ATSE:AVAX

Stock Analysis Report

Executive Summary

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

Snowflake

Fundamentals

Mediocre balance sheet and overvalued.

Risks

  • Avax has significant price volatility in the past 3 months.
  • Avax is not covered by any analysts.

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

1.0%

AVAX

0.6%

GR Construction

2.3%

GR Market


1 Year Return

48.8%

AVAX

29.5%

GR Construction

17.8%

GR Market

AVAX outperformed the Construction industry which returned 29.5% over the past year.

AVAX outperformed the Market in Greece which returned 17.8% over the past year.


Share holder returns

AVAXIndustryMarket
7 Day1.0%0.6%2.3%
30 Day-16.7%-0.8%5.7%
90 Day15.7%17.5%4.9%
1 Year48.8%48.8%29.5%29.5%21.6%17.8%
3 Year125.6%125.6%140.0%119.7%63.4%48.9%
5 Year-51.2%-51.2%7.6%0.8%-78.9%-79.5%

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

0.55x

Price to Book (PB) ratio


Intrinsic Value Based on Future Cash Flows

Unable to calculate intrinsic value for Avax to establish if it is available at moderate discount.

Unable to calculate intrinsic value for Avax to establish if it is available at substantial discount.


Price Based on Earnings

Avax is loss making, we can't compare its value to the Europe Construction industry average.

Avax is loss making, we can't compare the value of its earnings to the Greece market.


Price Based on Expected Growth

Unable to calculate PEG ratio for Avax, we can't assess if its growth is good value.


Price Based on Value of Assets

Avax is good value based on assets compared to the GR Construction industry average.


Next Steps

Future Growth

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

11.6%

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?

21.9%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Avax does not make a profit even though their year on year earnings growth rate was positive over the past 5 years.

Unable to compare Avax's 1-year earnings growth to the 5-year average as it is not currently profitable.

Unable to compare Avax's 1-year growth to the Europe Construction industry average as it is not currently profitable.


Return on Equity

It is difficult to establish if Avax has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.


Return on Assets

Avax used its assets less efficiently than the Europe Construction industry average last year based on Return on Assets.


Return on Capital Employed

It is difficult to establish if Avax improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.


Next Steps

Financial Health

How is Avax's financial position?


Financial Position Analysis

Avax is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.

Avax's long term commitments exceed its cash and other short term assets.


Debt to Equity History and Analysis

Avax's level of debt (671.5%) compared to net worth is high (greater than 40%).

The level of debt compared to net worth has increased over the past 5 years (253% vs 671.5% today).


Balance Sheet

Low level of unsold assets.

Debt is not covered by short term assets, assets are 0.9x debt.


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.

Avax has sufficient cash runway for 1.8 years based on current free cash flow.

Avax has sufficient cash runway for 1.6 years if free cash flow continues to reduce at historical rates of -10.7% each year.


Next Steps

Dividend

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


Dividend Yield and Payments Analysis

Unable to evaluate Avax's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.

Unable to evaluate Avax's dividend against the top 25% market benchmark as the company has not reported any payouts.

Unable to perform a dividend volatility check as Avax has not reported any payouts.

Unable to verify if Avax's dividend has been increasing as the company has not reported any payouts.


Current Payout to Shareholders

Unable to calculate sustainability of dividends as Avax has not reported any payouts.


Future Payout to Shareholders

Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.


Next Steps

Management

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

0.7yrs

Average board tenure


CEO

Konstantine Mitzalis 0

0yrs

Tenure

0

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 Age and Tenure

0.7yrs

Average Tenure

The average tenure for the Avax board of directors is less than 3 years, this suggests a new board.


Insider Trading

No 3 month open market individual insider trading information.


Ownership Breakdown


Management Team

  • Konstantine Mitzalis

    MD & Director

    • Tenure: 0yrs
  • Konstantine Kouvaras

    Deputy Chairman

    • Tenure: 0yrs
  • Christos Joannou

    Executive Chairman

    • Tenure: 4.3yrs
  • Konstantine Lysarides

    Vice Chairman

    • Tenure: 0.5yrs
  • George Giannopoulos

    Chief Accountant

    • Tenure: 5.7yrs

Board Members

  • Konstantine Mitzalis

    MD & Director

    • Tenure: 0yrs
  • Konstantine Kouvaras

    Deputy Chairman

    • Tenure: 0yrs
  • Christos Joannou

    Executive Chairman

    • Tenure: 4.3yrs
  • Konstantine Lysarides

    Vice Chairman

    • Tenure: 0.5yrs
  • Alexios Sotirakopoulos

    Independent Non Executive Director

    • Tenure: 0yrs
  • Christos Siatis

    Independent Non-Executive Director

    • Tenure: 0yrs
  • Aikaterini Pistiolis

    Non-Executive Director

    • Tenure: 0yrs
  • Michael Hatzipavlou

    Independent Non Executive Director

    • Tenure: 0.7yrs

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:
  • Industry: Construction and Engineering
  • Sector: Capital Goods
  • Market Cap: €48.534m
  • Shares outstanding: 77.65m
  • Website: https://www.jp-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

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 Analysis2019/09/22 20:42
End of Day Share Price2019/09/20 00:00
Earnings2018/12/31
Annual Earnings2018/12/31


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.