ATSE:AVAX

Stock Analysis Report

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Executive Summary

Avax S.A., together with its subsidiaries, operates as a construction company in Greece and internationally.


Snowflake Analysis

Adequate balance sheet and slightly overvalued.

Share Price & News

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


Latest Share Price and Events

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


Market Performance


7 Day Return

-0.3%

AVAX

1.9%

GR Construction

0.4%

GR Market


1 Year Return

-44.6%

AVAX

-18.7%

GR Construction

-16.2%

GR Market

Return vs Industry: AVAX underperformed the Greek Construction industry which returned -18.7% over the past year.

Return vs Market: AVAX underperformed the Greek Market which returned -16.2% over the past year.


Shareholder returns

AVAXIndustryMarket
7 Day-0.3%1.9%0.4%
30 Day-6.0%3.7%1.2%
90 Day-5.7%10.3%7.0%
1 Year-23.6%-44.6%-16.8%-18.7%-12.7%-16.2%
3 Year-25.1%-45.7%12.7%2.3%-12.5%-20.1%
5 Year35.7%-1.5%80.3%60.4%-24.6%-31.6%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: AVAX (€0.38) is trading below our estimate of fair value (€4.57)

Significantly Below Fair Value: AVAX is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: AVAX is unprofitable, so we can't compare its PE Ratio to the XE Construction industry average.

PE vs Market: AVAX is unprofitable, so we can't compare its PE Ratio to the Greek market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate AVAX's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: AVAX's PB Ratio (0.5x) is in line with the GR Construction industry average.


Next Steps

Future Growth

How is Avax forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

26.9%

Forecasted Capital Goods industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Avax has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has Avax performed over the past 5 years?

-0.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: AVAX is currently unprofitable.

Growing Profit Margin: AVAX is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: AVAX is unprofitable, and losses have increased over the past 5 years at a rate of 0.4% per year.

Accelerating Growth: Unable to compare AVAX's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: AVAX is unprofitable, making it difficult to compare its past year earnings growth to the Construction industry (11.3%).


Return on Equity

High ROE: AVAX has a negative Return on Equity (-22.52%), as it is currently unprofitable.


Next Steps

Financial Health

How is Avax's financial position?


Financial Position Analysis

Short Term Liabilities: AVAX's short term assets (€948.4M) exceed its short term liabilities (€883.7M).

Long Term Liabilities: AVAX's short term assets (€948.4M) exceed its long term liabilities (€572.7M).


Debt to Equity History and Analysis

Debt Level: AVAX's debt to equity ratio (695.7%) is considered high.

Reducing Debt: AVAX's debt to equity ratio has increased from 279.2% to 695.7% over the past 5 years.


Balance Sheet


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: Whilst unprofitable AVAX has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.

Forecast Cash Runway: AVAX is unprofitable but has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 4.1% per year.


Next Steps

Dividend

What is Avax current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

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

High Dividend: Unable to evaluate AVAX'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 AVAX's dividends per share have been stable in the past.

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


Current Payout to Shareholders

Dividend Coverage: AVAX is not paying a notable dividend for the Greek market.


Future Payout to Shareholders

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


Next Steps

Management

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

1.6yrs

Average board tenure


CEO

Konstantine Mitzalis

no data

Tenure

Mr. Konstantine Mitzalis serves as Managing Director of J&P-Avax S.A. Previously he was its Vice Chairman of J&P-Avax S.A. till March 2019.


Board Members

NamePositionTenureCompensationOwnership
Christos Joannou
Executive Chairman5.17yrsno datano data
Konstantine Mitzalis
MD & Directorno datano data7.5%
€ 4.2m
Konstantine Kouvaras
Deputy Chairman no datano data3.21%
€ 1.8m
Konstantine Lysarides
Vice Chairman1.42yrsno datano data
Alexios Sotirakopoulos
Independent Non Executive Directorno datano datano data
Christos Siatis
Independent Non-Executive Directorno datano datano data
Aikaterini Pistiolis
Non-Executive Directorno datano datano data
Michael Hatzipavlou
Independent Non Executive Director1.58yrsno datano data

1.6yrs

Average Tenure

Experienced Board: AVAX's board of directors are not considered experienced ( 1.6 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 been substantially diluted in the past year, with total shares outstanding growing by 85.9%.


Top Shareholders

Company Information

Avax S.A.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Avax S.A.
  • Ticker: AVAX
  • Exchange: ATSE
  • Founded: 1986
  • Industry: Construction and Engineering
  • Sector: Capital Goods
  • Market Cap: €55.419m
  • Shares outstanding: 144.32m
  • Website: https://www.avax.gr

Number of Employees


Location

  • Avax S.A.
  • 16 Amarousiou-Halandriou Street
  • Marousi
  • 151 25
  • Greece

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
IJ6BST (Boerse-Stuttgart)YesCommon Registered SharesDEEURSep 1994
AVAXATSE (The Athens Stock Exchange)YesCommon Registered SharesGREURSep 1994
0DO2LSE (London Stock Exchange)YesCommon Registered SharesGBEURSep 1994

Biography

Avax S.A., together with its subsidiaries, operates as a construction company in Greece and internationally. It operates through four segments: Construction, Concessions, Energy, and Other Activities. The ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/08/14 10:22
End of Day Share Price2020/08/13 00:00
Earnings2019/12/31
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.