Loading...

April

LSE:0N69
Snowflake Description

Excellent balance sheet with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
0N69
LSE
€880M
Market Cap
  1. Home
  2. GB
  3. Insurance
Company description

April SA, together with its subsidiaries, designs, manages, and distributes insurance solutions and assistance services for individuals, professionals, and businesses. The last earnings update was 15 days ago. More info.


Add to Portfolio Compare Print
0N69 Share Price and Events
7 Day Returns
0%
LSE:0N69
3.8%
GB Insurance
1.9%
GB Market
1 Year Returns
43.3%
LSE:0N69
-4.5%
GB Insurance
2.5%
GB Market
0N69 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
April (0N69) 0% 0.2% - 43.3% - -
GB Insurance 3.8% 3.5% 10.1% -4.5% 14.3% 23.7%
GB Market 1.9% 3% 7.9% 2.5% 15.6% 6.8%
1 Year Return vs Industry and Market
  • 0N69 outperformed the Insurance industry which returned -4.5% over the past year.
  • 0N69 outperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned 2.5% over the past year.
Price Volatility
0N69
Industry
5yr Volatility vs Market
Related Companies

Value

 Is April undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of April to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for April.

LSE:0N69 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= €17.64 * 6%
€1.06
Book Value of Equity per Share Weighted future Book Value estimates from 2 analysts. €17.64
Discount Rate (Cost of Equity) See below 6.8%
Perpetual Growth Rate 10-Year GB Government Bond Rate 1.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for LSE:0N69
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 1.2%
Equity Risk Premium S&P Global 6.7%
Insurance Unlevered Beta Simply Wall St/ S&P Global 0.72
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.725 (1 + (1- 33%) (7.75%))
0.841
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.84
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.23% + (0.841 * 6.65%)
6.82%

Discounted Cash Flow Calculation for LSE:0N69 using Excess Returns Model Model

The calculations below outline how an intrinsic value for April is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

LSE:0N69 Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (6% – 6.82%) * €17.64)
€-0.15
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= €-0.15 / (6.82% - 1.23%)
€-2.63
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= €17.64 + €-2.63
€15.01
LSE:0N69 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in LSE:0N69 represents 0.99302x of ENXTPA:APR
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.99302x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (EUR) x Listing Adjustment Factor
= € 15.01 x 0.99302
€14.90
Value per share (EUR) From above. €14.90
Current discount Discount to share price of €21.35
= -1 x (€21.35 - €14.90) / €14.90
-43.3%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of April is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for April's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are April's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
LSE:0N69 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in EUR €0.70
ENXTPA:APR Share Price ** ENXTPA (2019-04-08) in EUR €21.5
United Kingdom of Great Britain and Northern Ireland Insurance Industry PE Ratio Median Figure of 19 Publicly-Listed Insurance Companies 16.26x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 796 Publicly-Listed Companies 16.29x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of April.

LSE:0N69 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ENXTPA:APR Share Price ÷ EPS (both in EUR)

= 21.5 ÷ 0.70

30.93x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • April is overvalued based on earnings compared to the GB Insurance industry average.
  • April is overvalued based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does April's expected growth come at a high price?
Raw Data
LSE:0N69 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 30.93x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
21.4%per year
United Kingdom of Great Britain and Northern Ireland Insurance Industry PEG Ratio Median Figure of 16 Publicly-Listed Insurance Companies 1.54x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 563 Publicly-Listed Companies 1.47x

*Line of best fit is calculated by linear regression .

LSE:0N69 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 30.93x ÷ 21.4%

1.45x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • April is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on April's assets?
Raw Data
LSE:0N69 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in EUR €15.24
ENXTPA:APR Share Price * ENXTPA (2019-04-08) in EUR €21.5
United Kingdom of Great Britain and Northern Ireland Insurance Industry PB Ratio Median Figure of 24 Publicly-Listed Insurance Companies 2.12x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,365 Publicly-Listed Companies 1.51x
LSE:0N69 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ENXTPA:APR Share Price ÷ Book Value per Share (both in EUR)

= 21.5 ÷ 15.24

1.41x

* Primary Listing of April.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • April is good value based on assets compared to the GB Insurance industry average.
X
Value checks
We assess April's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Insurance industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Insurance industry average (and greater than 0)? (1 check)
  5. April has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is April expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
21.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is April expected to grow at an attractive rate?
  • April's earnings growth is expected to exceed the low risk savings rate of 1.2%.
Growth vs Market Checks
  • April's earnings growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
  • April's revenue growth is positive but not above the United Kingdom of Great Britain and Northern Ireland market average.
Annual Growth Rates Comparison
Raw Data
LSE:0N69 Future Growth Rates Data Sources
Data Point Source Value (per year)
LSE:0N69 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 21.4%
LSE:0N69 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 4.6%
United Kingdom of Great Britain and Northern Ireland Insurance Industry Earnings Growth Rate Market Cap Weighted Average 11.8%
United Kingdom of Great Britain and Northern Ireland Insurance Industry Revenue Growth Rate Market Cap Weighted Average 18.3%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 10.9%
United Kingdom of Great Britain and Northern Ireland Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
LSE:0N69 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
LSE:0N69 Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 1,173 59 1
2020-12-31 1,083 52 2
2019-12-31 1,059 52 1
LSE:0N69 Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-12-31 1,006 82 28
2018-09-30 991 70 36
2018-06-30 975 57 43
2018-03-31 957 53 41
2017-12-31 939 48 40
2017-09-30 921 55 29
2017-06-30 903 62 18
2017-03-31 890 51 19
2016-12-31 878 40 20
2016-09-30 859 26 31
2016-06-30 839 11 41
2016-03-31 826 22 41

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • April's earnings are expected to grow significantly at over 20% yearly.
  • April's revenue is expected to grow by 4.6% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
LSE:0N69 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from April Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:0N69 Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 1.44 1.44 1.44 1.00
2020-12-31 1.29 1.37 1.21 2.00
2019-12-31 1.28 1.28 1.28 1.00
LSE:0N69 Past Financials Data
Date (Data in EUR Millions) EPS *
2018-12-31 0.70
2018-09-30 0.88
2018-06-30 1.07
2018-03-31 1.02
2017-12-31 0.98
2017-09-30 0.71
2017-06-30 0.44
2017-03-31 0.47
2016-12-31 0.50
2016-09-30 0.75
2016-06-30 1.01
2016-03-31 1.03

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • April is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess April's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United Kingdom of Great Britain and Northern Ireland market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United Kingdom of Great Britain and Northern Ireland market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
April has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has April performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare April's growth in the last year to its industry (Insurance).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • April's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • April's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • April's 1-year earnings growth is negative, it can't be compared to the GB Insurance industry average.
Earnings and Revenue History
April's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from April Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:0N69 Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 1,006.45 28.18 34.79
2018-09-30 990.63 35.74 34.39
2018-06-30 974.82 43.30 33.98
2018-03-31 957.14 41.46 33.84
2017-12-31 939.45 39.63 33.70
2017-09-30 921.21 28.75 33.07
2017-06-30 902.96 17.87 32.45
2017-03-31 890.29 19.00 32.72
2016-12-31 877.63 20.13 33.00
2016-09-30 858.56 30.52 32.94
2016-06-30 839.49 40.91 32.87
2016-03-31 826.46 41.50 32.65
2015-12-31 813.43 42.09 32.42
2015-09-30 804.02 40.58 32.07
2015-06-30 794.62 39.06 31.72
2015-03-31 789.13 38.73 31.36
2014-12-31 783.63 38.41 31.00
2014-06-30 800.59 50.47 32.02
2014-03-31 803.03 51.26 31.88
2013-12-31 805.46 52.05 31.75
2013-06-30 810.86 49.46 30.59
2013-03-31 808.44 51.13 30.12
2012-12-31 806.03 52.81 29.66
2012-09-30 796.71 55.60 29.42
2012-06-30 787.40 58.38 29.19

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • April has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • April used its assets more efficiently than the GB Insurance industry average last year based on Return on Assets.
  • April's use of capital has not improved over the past 3 years (Return on Capital Employed).
X
Past performance checks
We assess April's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Insurance industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
April has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is April's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up April's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • April is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • April's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of April's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 8.8x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from April Company Filings, last reported 3 months ago.

LSE:0N69 Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 617.09 68.19 136.21
2018-09-30 617.09 68.19 136.21
2018-06-30 641.94 73.77 94.47
2018-03-31 641.94 73.77 94.47
2017-12-31 632.12 52.18 107.84
2017-09-30 632.12 52.18 107.84
2017-06-30 618.13 55.04 111.29
2017-03-31 618.13 55.04 111.29
2016-12-31 614.82 18.08 99.50
2016-09-30 614.82 18.08 99.50
2016-06-30 620.52 27.46 120.36
2016-03-31 620.52 27.46 120.36
2015-12-31 606.57 21.16 101.81
2015-09-30 606.57 21.16 101.81
2015-06-30 595.94 19.38 102.94
2015-03-31 595.94 19.38 102.94
2014-12-31 579.26 15.35 81.34
2014-06-30 562.20 27.97 118.14
2014-03-31 562.20 27.97 118.14
2013-12-31 551.19 19.85 102.00
2013-06-30 527.07 19.58 124.95
2013-03-31 527.07 19.58 124.95
2012-12-31 515.60 14.49 116.77
2012-09-30 515.60 14.49 116.77
2012-06-30 490.04 14.43 168.27
  • April's level of debt (11.1%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (3.6% vs 11.1% today).
  • Debt is well covered by operating cash flow (120%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 682.9x coverage).
X
Financial health checks
We assess April's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. April has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0.79%
Current annual income from April dividends. Estimated to be 1.53% next year.
If you bought €2,000 of April shares you are expected to receive €16 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • April's pays a lower dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (2.02%).
  • April's dividend is below the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (5.19%).
Upcoming dividend payment

Purchase April before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
LSE:0N69 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
United Kingdom of Great Britain and Northern Ireland Insurance Industry Average Dividend Yield Market Cap Weighted Average of 21 Stocks 4.5%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 705 Stocks 4.2%
United Kingdom of Great Britain and Northern Ireland Minimum Threshold Dividend Yield 10th Percentile 1%
United Kingdom of Great Britain and Northern Ireland Bottom 25% Dividend Yield 25th Percentile 2%
United Kingdom of Great Britain and Northern Ireland Top 25% Dividend Yield 75th Percentile 5.2%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

LSE:0N69 Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.36 1.00
2020-12-31 0.32 2.00
2019-12-31 0.32 1.00
LSE:0N69 Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-04-04 0.170 0.796
2019-01-15 0.170 0.808
2018-04-05 0.270 1.904
2018-03-07 0.270 1.758
2017-04-12 0.260 1.901
2017-03-09 0.260 2.153
2016-04-07 0.260 2.189
2016-03-02 0.260 2.250
2015-04-01 0.420 3.330
2015-02-25 0.420 3.409
2014-03-31 0.500 3.462
2014-02-27 0.500 2.935
2013-03-18 0.330 2.282
2013-02-28 0.330 2.430
2012-03-20 0.490 3.731
2012-03-06 0.490 3.111
2011-03-15 0.490 3.325
2011-02-28 0.490 2.259
2010-03-09 0.440 2.037
2009-04-20 0.370 1.503

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • April is not paying a notable dividend for United Kingdom of Great Britain and Northern Ireland, therefore no need to check if the payments are stable.
  • April is not paying a notable dividend for United Kingdom of Great Britain and Northern Ireland, therefore no need to check if the payments are increasing.
Current Payout to shareholders
What portion of April's earnings are paid to the shareholders as a dividend.
  • No need to calculate the sustainability of April's dividends as it is not paying a notable one for United Kingdom of Great Britain and Northern Ireland.
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (4x coverage).
X
Income/ dividend checks
We assess April's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can April afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. April has a total score of 1/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of April's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Emmanuel Morandini
COMPENSATION €578,233
AGE 56
TENURE AS CEO 2.3 years
CEO Bio

Mr. Emmanuel Morandini is an ISTOM engineering graduate and holds an Executive MBA from ESSEC business school. He started his career in 1986 at CERIC Group (engineering) and later joined La Hénin Vie, which in 1999 became La Mondiale Partenaire, as Deputy CEO. In 2002 he joined CNP Assurances, where he served as Chairman and CEO of the Group’s subsidiaries in Argentina, Spain, Italy and Portugal. He joined April SA in 2014 as Deputy CEO. Mr. Morandini serves as Chief Executive Officer at April SA since December 07, 2016.

CEO Compensation
  • Emmanuel's compensation has been consistent with company performance over the past year.
  • Emmanuel's remuneration is lower than average for companies of similar size in United Kingdom of Great Britain and Northern Ireland.
Management Team Tenure

Average tenure of the April management team in years:

2
Average Tenure
  • The tenure for the April management team is about average.
Management Team

Emmanuel Morandini

TITLE
Chief Executive Officer
COMPENSATION
€578K
AGE
56
TENURE
2.3 yrs

Emmanuel Maillet

TITLE
Deputy Director General in charge of Finance & Legal Affairs
AGE
40
TENURE
2 yrs

Guillaume CEREZO

TITLE
Investor relations & analysts / investors

Marc-André Dupont

TITLE
Chairman and CEO of Property & Casualty Cluster

Roger Mainguy

TITLE
Chairman and CEO of Health & Personal Protection Division
TENURE
1 yrs

Daniel Bohbot

TITLE
Chairman & CEO of the Legal Protection Cluster

Emmanuel Legras

TITLE
Chairman & CEO of the International Cluster - Mobility & Assistance

Claude Cuerin

TITLE
Chairman of April Partenaires and Chief Executive Officer of April Partenaires

Lionel Boismery

TITLE
Chairman of April Marine and Chief Executive Officer of April Marine
Board of Directors Tenure

Average tenure and age of the April board of directors in years:

11.7
Average Tenure
64
Average Age
  • The average tenure for the April board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Bruno Rousset

TITLE
Chairman of the Board
COMPENSATION
€105K
AGE
62
TENURE
11.7 yrs

Emmanuel Maillet

TITLE
Deputy Director General in charge of Finance & Legal Affairs
AGE
40
TENURE
2 yrs

Claude Cuerin

TITLE
Chairman of April Partenaires and Chief Executive Officer of April Partenaires

Lionel Boismery

TITLE
Chairman of April Marine and Chief Executive Officer of April Marine

Nick Kidd

TITLE
Chairman of April Canada Inc

Dominique Takizawa

TITLE
Independent Director
COMPENSATION
€29K
AGE
61
TENURE
9.1 yrs

Jacques Tassi

TITLE
Independent Director
COMPENSATION
€20K
AGE
70
TENURE
8 yrs

Bernard Belletante

TITLE
Director
COMPENSATION
€10K
AGE
64
TENURE
11.7 yrs

Philippe Marcel

TITLE
Director
COMPENSATION
€15K
AGE
65
TENURE
11.7 yrs

André Arrago

TITLE
Director
COMPENSATION
€89K
AGE
68
TENURE
11.7 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
17. Apr 19 Buy Syquant Capital SAS Company 16. Apr 19 16. Apr 19 622 €21.30 €13,249
11. Apr 19 Buy Syquant Capital SAS Company 10. Apr 19 10. Apr 19 8,604 €21.30 €183,265
04. Apr 19 Buy Syquant Capital SAS Company 03. Apr 19 03. Apr 19 5,000 €21.25 €106,250
03. Apr 19 Buy Syquant Capital SAS Company 02. Apr 19 02. Apr 19 37,000 €21.25 €786,250
02. Apr 19 Buy Syquant Capital SAS Company 01. Apr 19 01. Apr 19 7,000 €21.25 €148,750
27. Mar 19 Buy Syquant Capital SAS Company 26. Mar 19 26. Mar 19 5,000 €21.20 €106,000
26. Mar 19 Buy Syquant Capital SAS Company 25. Mar 19 25. Mar 19 10,000 €21.20 €212,000
22. Mar 19 Buy Syquant Capital SAS Company 21. Mar 19 21. Mar 19 5,044 €21.20 €106,933
19. Mar 19 Buy Syquant Capital SAS Company 18. Mar 19 18. Mar 19 5,572 €21.10 €117,569
14. Mar 19 Buy Syquant Capital SAS Company 13. Mar 19 13. Mar 19 2,460 €21.10 €51,906
13. Mar 19 Buy Syquant Capital SAS Company 12. Mar 19 12. Mar 19 644 €21.10 €13,588
12. Mar 19 Buy Syquant Capital SAS Company 11. Mar 19 11. Mar 19 1,535 €21.00 €32,235
08. Mar 19 Buy Syquant Capital SAS Company 07. Mar 19 07. Mar 19 14,737 €21.00 €309,477
01. Feb 19 Buy Syquant Capital SAS Company 31. Jan 19 31. Jan 19 200,000 €21.00 €4,200,000
30. Jan 19 Buy Syquant Capital SAS Company 29. Jan 19 29. Jan 19 450,000 €20.80 €9,360,000
X
Management checks
We assess April's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. April has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

April SA, together with its subsidiaries, designs, manages, and distributes insurance solutions and assistance services for individuals, professionals, and businesses. The company’s Health & Personal Protection segment offers insurance policies that provide coverage for individual health, loan, corporate brokerage, expat, professional and individual personal protection in France, and local health and personal protection outside of France. Its Property & Casualty segment provides individual property and casualty, corporate property and casualty, travel and assistance, international property and casualty, and legal protection policies. The company also offers funeral insurance, pet insurance policies, etc.; and reinsurance products. It sells its products through a network of agencies and distributors, as well as through online sales channel linked with call centers and mobile sales networks. April SA was founded in 1988 and is headquartered in Lyon, France.

Details
Name: April SA
0N69
Exchange: LSE
Founded: 1988
€880,117,356
40,935,691
Website: http://www.april.fr
Address: April SA
114 Boulevard Marius Vivier Merle,
Lyon,
Rhône-Alpes, 69003,
France
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTPA APR Ordinary Shares Euronext Paris FR EUR 19. Jan 1998
DB B2B Ordinary Shares Deutsche Boerse AG DE EUR 19. Jan 1998
LSE 0N69 Ordinary Shares London Stock Exchange GB EUR 19. Jan 1998
BATS-CHIXE APRP Ordinary Shares BATS 'Chi-X Europe' GB EUR 19. Jan 1998
Number of employees
Current staff
Staff numbers
3,907
April employees.
Industry
Insurance Brokers
Insurance
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/19 21:07
End of day share price update: 2019/04/08 00:00
Last estimates confirmation: 2019/03/11
Last earnings filing: 2019/04/04
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.