LSE:0OGQ

Stock Analysis Report

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Executive Summary

AmRest Holdings SE, through its subsidiaries, operates and manages quick service and casual dining restaurants in Central and Eastern Europe, Western Europe, Russia, and China.


Snowflake Analysis

Reasonable growth potential with poor track record.

Share Price & News

How has AmRest Holdings's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 0OGQ's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

0%

0OGQ

11.0%

GB Hospitality

3.2%

GB Market


1 Year Return

n/a

0OGQ

-26.4%

GB Hospitality

-11.7%

GB Market

Return vs Industry: Insufficient data to determine how 0OGQ performed against the UK Hospitality industry.

Return vs Market: Insufficient data to determine how 0OGQ performed against the UK Market.


Shareholder returns

0OGQIndustryMarket
7 Day0%11.0%3.2%
30 Day-0.03%0.3%5.9%
90 Day-35.9%-23.1%-6.3%
1 Yearn/a-23.9%-26.4%-7.4%-11.7%
3 Year-24.6%-24.6%-20.5%-29.2%-4.8%-16.5%
5 Yearn/a1.4%-16.6%13.4%-12.0%

Price Volatility Vs. Market

How volatile is AmRest Holdings's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is AmRest Holdings undervalued compared to its fair value and its price relative to the market?

67.66x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: 0OGQ (PLN25.69) is trading above our estimate of fair value (PLN18.47)

Significantly Below Fair Value: 0OGQ is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: 0OGQ is poor value based on its PE Ratio (67.7x) compared to the Hospitality industry average (18.5x).

PE vs Market: 0OGQ is poor value based on its PE Ratio (67.7x) compared to the UK market (14.7x).


Price to Earnings Growth Ratio

PEG Ratio: 0OGQ is poor value based on its PEG Ratio (2.3x)


Price to Book Ratio

PB vs Industry: 0OGQ is overvalued based on its PB Ratio (3.3x) compared to the GB Hospitality industry average (1x).


Next Steps

Future Growth

How is AmRest Holdings forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?

30.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 0OGQ's forecast earnings growth (30% per year) is above the savings rate (1.2%).

Earnings vs Market: 0OGQ's earnings (30% per year) are forecast to grow faster than the UK market (20.3% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: 0OGQ's revenue (6.9% per year) is forecast to grow faster than the UK market (3.6% per year).

High Growth Revenue: 0OGQ's revenue (6.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 0OGQ's Return on Equity is forecast to be low in 3 years time (14.5%).


Next Steps

Past Performance

How has AmRest Holdings performed over the past 5 years?

7.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 0OGQ has a large one-off gain of €28.2M impacting its March 31 2020 financial results.

Growing Profit Margin: 0OGQ's current net profit margins (1%) are lower than last year (2.5%).


Past Earnings Growth Analysis

Earnings Trend: 0OGQ's earnings have grown by 7% per year over the past 5 years.

Accelerating Growth: 0OGQ's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 0OGQ had negative earnings growth (-52.4%) over the past year, making it difficult to compare to the Hospitality industry average (-10.9%).


Return on Equity

High ROE: 0OGQ's Return on Equity (5.1%) is considered low.


Next Steps

Financial Health

How is AmRest Holdings's financial position?


Financial Position Analysis

Short Term Liabilities: 0OGQ's short term assets (€261.8M) do not cover its short term liabilities (€1.1B).

Long Term Liabilities: 0OGQ's short term assets (€261.8M) do not cover its long term liabilities (€884.4M).


Debt to Equity History and Analysis

Debt Level: 0OGQ's debt to equity ratio (188.1%) is considered high.

Reducing Debt: 0OGQ's debt to equity ratio has increased from 108.1% to 188.1% over the past 5 years.

Debt Coverage: 0OGQ's debt is well covered by operating cash flow (39.6%).

Interest Coverage: 0OGQ's interest payments on its debt are not well covered by EBIT (1.5x coverage).


Balance Sheet


Next Steps

Dividend

What is AmRest Holdings's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate 0OGQ's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate 0OGQ's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if 0OGQ's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if 0OGQ's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of 0OGQ's dividend in 3 years as they are not forecast to pay a notable one for the UK market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

2.3yrs

Average management tenure


CEO

Mark Chandler (64yo)

1.17yrs

Tenure

€1,672,461

Compensation

Mr. Mark R. Chandler has been Member of Management Board at AmRest Holdings SE since July 31, 2013 and also serves as its CEO. He was CFO at AmRest Holdings SE since November 2008. Mr. Chandler is responsi ...


CEO Compensation Analysis

Compensation vs Market: Mark's total compensation ($USD0.00) is below average for companies of similar size in the UK market ($USD1.78M).

Compensation vs Earnings: Mark's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Mark Chandler
CEO & Member of Management Board1.17yrs€1.67mno data
Henry McGovern
no data€2.45m0.14% 8.2m
Oksana Staniszewska
Chief People Officer & Member of Management Board4.42yrs€929.69kno data
Olgierd Danielewicz
COO & Member of Management Board1.92yrs€890.00kno data
Eduardo Zamarripa
Chief Financial Officerno datano datano data
Robert Zuk
Global Chief Information Officer3yrsno datano data
Michal Serwatka
IR and M&A Directorno datano datano data
Peter Kaineder
Chief Strategy Officer2.33yrsno datano data
Adam Sawicki
Chief Digital Officer2.58yrsno datano data
Jerzy Tymofiejew
Chief Development Officer2yrsno datano data

2.3yrs

Average Tenure

52yo

Average Age

Experienced Management: 0OGQ's management team is considered experienced (2.3 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Carlos Fernández González
Director2.17yrs€320.50kno data
José Parés Gutiérrez
Chairman of the Board of Directorsno data€315.85kno data
Luis Álvarez Pérez
Vice-President of the Boardno data€315.85kno data
Romana Sadurska
Independent Directorno datano datano data
Pablo Castilla Reparaz
Independent Director2.17yrs€434.37kno data
Mustafa Ogretici
Independent Director2.17yrs€434.37kno data
Emilio Botella
Independent Directorno datano datano data

2.2yrs

Average Tenure

Experienced Board: 0OGQ's board of directors are not considered experienced ( 2.2 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

AmRest Holdings SE's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: AmRest Holdings SE
  • Ticker: 0OGQ
  • Exchange: LSE
  • Founded: 1993
  • Industry: Restaurants
  • Sector: Consumer Services
  • Market Cap: zł5.911b
  • Shares outstanding: 218.91m
  • Website: https://www.amrest.eu

Number of Employees


Location

  • AmRest Holdings SE
  • Calle Enrique Granados 6
  • B building, 2nd floor, office 6
  • Madrid
  • Madrid
  • 28224
  • Spain

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
EATWSE (Warsaw Stock Exchange)YesOrdinary SharesPLPLNApr 2005
0OGQLSE (London Stock Exchange)YesOrdinary SharesGBPLNApr 2005
ARHO.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDApr 2005
1QTDB (Deutsche Boerse AG)YesOrdinary SharesDEEURApr 2005
EATBME (Bolsas y Mercados Espanoles)YesOrdinary SharesESEURApr 2005
EAT NBMV (Bolsa Mexicana de Valores)YesOrdinary SharesMXMXNApr 2005

Biography

AmRest Holdings SE, through its subsidiaries, operates and manages quick service and casual dining restaurants in Central and Eastern Europe, Western Europe, Russia, and China. It operates Kentucky Fried Chicken, Pizza Hut, Burger King, and Starbucks restaurants on the basis of franchise and joint venture partnerships. The company also operates its own restaurant under the La Tagliatella brand name, as well as Blue Frog and KABB brand names. In addition, it provides on-site catering services; take away services; drive-in services at special sales points; and deliveries for orders placed online or by telephone. As of December 31, 2019, it operated 2,339 restaurants. The company was founded in 1993 and is based in Madrid, Spain. AmRest Holdings SE operates as a subsidiary of Fcapital Dutch B.V. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/05/28 22:15
End of Day Share Price2020/05/18 00:00
Earnings2020/03/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.