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Ellaktor

ATSE:ELLAKTOR
Snowflake Description

Moderate growth potential with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
ELLAKTOR
ATSE
€422M
Market Cap
  1. Home
  2. GR
  3. Capital Goods
Company description

Ellaktor S.A., through its subsidiaries, engages in construction and quarrying, real estate development and management, wind power, environment, and concession businesses. The last earnings update was 115 days ago. More info.


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  • Ellaktor has significant price volatility in the past 3 months.
ELLAKTOR Share Price and Events
7 Day Returns
-6.5%
ATSE:ELLAKTOR
-5.6%
GR Construction
-5.6%
GR Market
1 Year Returns
22.6%
ATSE:ELLAKTOR
22.2%
GR Construction
5.3%
GR Market
ELLAKTOR Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Ellaktor (ELLAKTOR) -6.5% -3.8% 32.1% 22.6% 55.8% -41.7%
GR Construction -5.6% -3.7% 30.1% 22.2% 95.9% -14.9%
GR Market -5.6% -8.3% 8.1% 5.3% 36.6% -56.5%
1 Year Return vs Industry and Market
  • ELLAKTOR matched the Construction industry (22.2%) over the past year.
  • ELLAKTOR outperformed the Market in Greece which returned 5.3% over the past year.
Price Volatility
ELLAKTOR
Industry
5yr Volatility vs Market

Value

 Is Ellaktor 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 Ellaktor 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 Ellaktor.

ATSE:ELLAKTOR Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 2 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 34.9%
Perpetual Growth Rate 10-Year GR Government Bond Rate 4.9%

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 ATSE:ELLAKTOR
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GR Govt Bond Rate 4.9%
Equity Risk Premium S&P Global 15%
Construction Unlevered Beta Simply Wall St/ S&P Global 1.02
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.023 (1 + (1- 29%) (365.32%))
2.794
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 4.93% + (2 * 14.99%)
34.91%

Discounted Cash Flow Calculation for ATSE:ELLAKTOR using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Ellaktor is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

ATSE:ELLAKTOR DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 34.91%)
2020 187.25 Analyst x2 138.79
2021 125.00 Analyst x1 68.68
2022 141.00 Analyst x1 57.42
2023 154.91 Est @ 9.87% 46.76
2024 167.90 Est @ 8.39% 37.57
2025 180.24 Est @ 7.35% 29.89
2026 192.18 Est @ 6.62% 23.62
2027 203.93 Est @ 6.12% 18.58
2028 215.68 Est @ 5.76% 14.57
2029 227.57 Est @ 5.51% 11.39
Present value of next 10 years cash flows €447.27
ATSE:ELLAKTOR DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= €227.57 × (1 + 4.93%) ÷ (34.91% – 4.93%)
€796.52
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €796.52 ÷ (1 + 34.91%)10
€39.87
ATSE:ELLAKTOR Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €447.27 + €39.87
€487.15
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €487.15 / 209.70
€2.32
ATSE:ELLAKTOR Discount to Share Price
Calculation Result
Value per share (EUR) From above. €2.32
Current discount Discount to share price of €2.01
= -1 x (€2.01 - €2.32) / €2.32
13.5%

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

Current Discount
Amount off the current price Ellaktor is available for.
Intrinsic value
13%
Share price is €2.01 vs Future cash flow value of €2.32
Current Discount Checks
For Ellaktor to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Ellaktor's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Ellaktor's share price is below the future cash flow value, but not at a substantial discount (< 40%).
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 Ellaktor's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Ellaktor's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ATSE:ELLAKTOR PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in EUR €-0.72
ATSE:ELLAKTOR Share Price ** ATSE (2019-08-16) in EUR €2.01
Europe Construction Industry PE Ratio Median Figure of 89 Publicly-Listed Construction Companies 10.87x
Greece Market PE Ratio Median Figure of 98 Publicly-Listed Companies 16.17x

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

** Primary Listing of Ellaktor.

ATSE:ELLAKTOR PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ATSE:ELLAKTOR Share Price ÷ EPS (both in EUR)

= 2.01 ÷ -0.72

-2.78x

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

  • Ellaktor is loss making, we can't compare its value to the Europe Construction industry average.
  • Ellaktor is loss making, we can't compare the value of its earnings to the Greece market.
Price based on expected Growth
Does Ellaktor's expected growth come at a high price?
Raw Data
ATSE:ELLAKTOR PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -2.78x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
69.3%per year
Europe Construction Industry PEG Ratio Median Figure of 45 Publicly-Listed Construction Companies 1.1x
Greece Market PEG Ratio Median Figure of 23 Publicly-Listed Companies 1.17x

*Line of best fit is calculated by linear regression .

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

  • Unable to calculate PEG ratio for Ellaktor, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Ellaktor's assets?
Raw Data
ATSE:ELLAKTOR PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in EUR €2.69
ATSE:ELLAKTOR Share Price * ATSE (2019-08-16) in EUR €2.01
Greece Construction Industry PB Ratio Median Figure of 7 Publicly-Listed Construction Companies 0.72x
Greece Market PB Ratio Median Figure of 138 Publicly-Listed Companies 0.9x
ATSE:ELLAKTOR PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ATSE:ELLAKTOR Share Price ÷ Book Value per Share (both in EUR)

= 2.01 ÷ 2.69

0.75x

* Primary Listing of Ellaktor.

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

  • Ellaktor is overvalued based on assets compared to the GR Construction industry average.
X
Value checks
We assess Ellaktor'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 Construction 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 Construction industry average (and greater than 0)? (1 check)
  5. Ellaktor has a total score of 0/6, 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 Ellaktor 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
69.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Ellaktor expected to grow at an attractive rate?
  • Ellaktor's earnings growth is expected to exceed the low risk savings rate of 4.9%.
Growth vs Market Checks
  • Ellaktor's earnings growth is expected to exceed the Greece market average.
  • Ellaktor's revenues are expected to decrease over the next 1-3 years, this is below the Greece market average.
Annual Growth Rates Comparison
Raw Data
ATSE:ELLAKTOR Future Growth Rates Data Sources
Data Point Source Value (per year)
ATSE:ELLAKTOR Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 69.3%
ATSE:ELLAKTOR Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts -5.4%
Europe Construction Industry Earnings Growth Rate Market Cap Weighted Average 13.6%
Europe Construction Industry Revenue Growth Rate Market Cap Weighted Average 2.9%
Greece Market Earnings Growth Rate Market Cap Weighted Average 15.9%
Greece Market Revenue Growth Rate Market Cap Weighted Average 4%

*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
ATSE:ELLAKTOR Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (7 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.
ATSE:ELLAKTOR Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 1,599 246 72 1
2021-12-31 1,526 218 66 1
2020-12-31 1,475 252 68 2
2019-12-31 1,666 171 50 2
ATSE:ELLAKTOR Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-12-31 1,857 47 -125
2018-09-30 1,885 108 -120
2018-06-30 1,858 136 -76
2018-03-31 1,862 137 -59
2017-12-31 1,866 138 -41
2017-09-30 1,910 91 -92
2017-06-30 2,025 137 -102
2017-03-31 1,984 148 -112
2016-12-31 1,942 160 -122
2016-09-30 1,830 200 -120
2016-06-30 1,638 106 -100
2016-03-31 1,579 125 -105

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Ellaktor's earnings are expected to grow significantly at over 20% yearly.
  • Ellaktor's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
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
ATSE:ELLAKTOR Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (7 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from Ellaktor Company Filings, last reported 7 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ATSE:ELLAKTOR Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 0.34 0.34 0.34 1.00
2021-12-31 0.31 0.31 0.31 1.00
2020-12-31 0.32 0.36 0.28 2.00
2019-12-31 0.25 0.27 0.22 2.00
ATSE:ELLAKTOR Past Financials Data
Date (Data in EUR Millions) EPS *
2018-12-31 -0.72
2018-09-30 -0.70
2018-06-30 -0.44
2018-03-31 -0.34
2017-12-31 -0.24
2017-09-30 -0.53
2017-06-30 -0.59
2017-03-31 -0.65
2016-12-31 -0.71
2016-09-30 -0.70
2016-06-30 -0.58
2016-03-31 -0.61

*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.
  • Ellaktor is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Ellaktor'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 Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe 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.
Ellaktor 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 Ellaktor 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 Ellaktor's growth in the last year to its industry (Construction).
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.
  • Ellaktor does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Ellaktor's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Ellaktor's 1-year growth to the Europe Construction industry average as it is not currently profitable.
Earnings and Revenue History
Ellaktor'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 Ellaktor Company Filings, last reported 7 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ATSE:ELLAKTOR 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 1,857.29 -124.58 77.28
2018-09-30 1,884.55 -119.95 76.11
2018-06-30 1,858.35 -75.99 72.62
2018-03-31 1,862.05 -58.58 70.70
2017-12-31 1,865.75 -41.17 68.79
2017-09-30 1,910.27 -91.97 58.92
2017-06-30 2,024.65 -101.90 56.86
2017-03-31 1,983.53 -111.90 54.93
2016-12-31 1,942.41 -121.90 53.00
2016-09-30 1,830.48 -119.87 57.16
2016-06-30 1,637.78 -100.01 57.46
2016-03-31 1,578.90 -104.77 60.09
2015-12-31 1,533.08 -106.07 57.98
2015-09-30 1,561.53 -84.95 59.94
2015-06-30 1,636.93 -53.70 59.97
2015-03-31 1,629.91 -70.06 58.47
2014-12-31 1,544.50 -51.62 61.92
2014-09-30 1,437.90 -60.70 60.79
2014-06-30 1,319.77 -64.26 59.77
2014-03-31 1,274.26 -29.03 60.41
2013-12-31 1,241.37 -47.97 56.80
2013-09-30 1,246.87 -13.74 58.11
2013-06-30 1,208.31 -16.41 60.43
2013-03-31 1,211.79 -7.70 62.40
2012-12-31 1,232.82 11.91 64.26
2012-09-30 1,106.63 118.13 69.01

*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.
  • It is difficult to establish if Ellaktor has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Ellaktor has efficiently used its assets last year compared to the Europe Construction industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Ellaktor improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Ellaktor'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 Construction 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.
Ellaktor has a total score of 0/6, 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 Ellaktor'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 Ellaktor's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Ellaktor is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Ellaktor's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Ellaktor'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 not covered by short term assets, assets are 0.9x 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 Ellaktor Company Filings, last reported 7 months ago.

ATSE:ELLAKTOR Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 652.02 1,536.93 504.86
2018-09-30 726.82 1,413.28 401.09
2018-06-30 795.15 1,411.83 441.36
2018-03-31 795.15 1,411.83 441.36
2017-12-31 860.19 1,513.43 517.60
2017-09-30
2017-06-30 881.48 1,569.86 485.20
2017-03-31 881.48 1,569.86 485.20
2016-12-31 892.42 1,577.03 538.65
2016-09-30 892.42 1,577.03 538.65
2016-06-30 985.11 1,619.30 507.87
2016-03-31 985.11 1,619.30 507.87
2015-12-31 1,031.23 1,646.28 563.98
2015-09-30 1,073.79 1,629.73 420.93
2015-06-30 1,092.47 1,638.71 480.66
2015-03-31 1,098.76 1,658.49 474.02
2014-12-31 1,116.23 1,723.11 681.92
2014-09-30 1,167.73 1,734.49 733.80
2014-06-30 1,129.01 1,714.40 706.87
2014-03-31 1,132.59 1,730.09 710.08
2013-12-31 1,150.38 1,755.26 847.91
2013-09-30 1,174.39 1,882.19 954.80
2013-06-30 1,195.81 1,876.06 722.88
2013-03-31 1,232.85 1,905.07 643.64
2012-12-31 1,253.71 1,902.29 840.40
2012-09-30 1,253.46 1,950.44 931.15
  • Ellaktor's level of debt (235.7%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (152.6% vs 235.7% today).
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.

  • Ellaktor has sufficient cash runway for more than 3 years based on current free cash flow.
  • Ellaktor has sufficient cash runway for more than 3 years if free cash flow continues to reduce at historical rates of -11% each year.
X
Financial health checks
We assess Ellaktor'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. Ellaktor has a total score of 3/6, 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 Ellaktor'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%
Current annual income from Ellaktor dividends. Estimated to be 1% next year.
If you bought €2,000 of Ellaktor shares you are expected to receive €0 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?
  • Unable to evaluate Ellaktor's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Ellaktor's dividend against the top 25% market benchmark as the company has not reported any payouts.
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
ATSE:ELLAKTOR 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
Europe Construction Industry Average Dividend Yield Market Cap Weighted Average of 72 Stocks 3.8%
Greece Market Average Dividend Yield Market Cap Weighted Average of 50 Stocks 4.2%
Greece Minimum Threshold Dividend Yield 10th Percentile 1.3%
Greece Bottom 25% Dividend Yield 25th Percentile 1.9%
Greece Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

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

ATSE:ELLAKTOR Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2022-12-31
2021-12-31
2020-12-31 0.04 1.00
2019-12-31 0.00 1.00
ATSE:ELLAKTOR Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2012-11-29 0.000 0.000
2012-09-03 0.000 0.000
2012-06-01 0.000 0.000
2012-03-29 0.000 0.000
2011-03-30 0.030 1.873
2011-03-28 0.030 0.895
2010-03-01 0.100 2.961
2010-01-15 0.100 2.267
2009-03-27 0.120 2.199
2008-12-31 0.120 3.050

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

  • Unable to perform a dividend volatility check as Ellaktor has not reported any payouts.
  • Unable to verify if Ellaktor's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Ellaktor's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Ellaktor has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of Ellaktor's dividends in 3 years as they are not expected to pay a notable one for Greece.
X
Income/ dividend checks
We assess Ellaktor's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.3%) - 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 Ellaktor afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Ellaktor has a total score of 0/6, 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 Ellaktor'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
Anastasios Kallitsantsis
AGE 66
TENURE AS CEO 1.1 years
CEO Bio

Mr. Anastasios Parisis Kallitsantsis is Chairman at Aktor SA. Mr. Kallitsants is served as Executive Member of Elliniki Technodomiki Anemos S.A. Production of Electrical Energyand since October 2018 until january 2019 and served as its Chief Executive Officer, Managing Director, General Manager and Chairman of the Board of Directors of EL.TECH. ANEMOS S.A. Mr. Kallitsantsis served as the Managing Director and Executive Member of Reds S.A until July 2019. He has been Managing Director of Elliniki Technodomiki A.E. since 1980. He was Chairman of Ellaktor S.A. (formerly, Elliniki Technodomiki TEB) from 2006 to June 2018. He is Executive Director of Ellaktor S.A. since June 2018. He is Managing Director of Ellaktor S.A. since July 2018. He served as Chief Executive Officer of Reds S.A. He served as General Manager of Elliniki Technodomiki AE since 1979. He served as Vice-President of Elpedison Power SA. He served as Vice-president of the Business and Industry Association since 2008. He served as the Managing Director/Chief Executive Officer of ELLAKTOR S.A. (alternate name: Hellenic Technodomiki Tev SA) from 1998 to 2005. He is the Founder and an active member of several companies in the construction sector, while undertaking the responsibility for the implementation of various projects both private and public. He served as a Director of Helector S.A. He has been a Director of Elliniki Technodomiki AE since 1979. He served as a Director of Aktor SA. Mr. Kallitsantsis holds Degree in Civil engineering from National Technical University of Athens (Metsovio Polytechnic) in 1976.

CEO Compensation
  • Insufficient data for Anastasios to compare compensation growth.
  • Insufficient data for Anastasios to establish whether their remuneration is reasonable compared to companies of similar size in .
Management Team Tenure

Average tenure of the Ellaktor management team in years:

0.2
Average Tenure
  • The average tenure for the Ellaktor management team is less than 2 years, this suggests a new team.
Management Team

Anastasios Kallitsantsis

TITLE
MD & Executive Director
AGE
66
TENURE
1.1 yrs

Manos Christeas

TITLE
Chief Financial Officer
TENURE
0.2 yrs

Evangelos Panopoulos

TITLE
Head of Accounting Department

Pitoskas Stergios

TITLE
Head of Investors Relations

Alexandros Spiliotopoulos

TITLE
Financial Consultant
TENURE
0.2 yrs

Mountzia Maria - Athina

TITLE
Head of Strategic Planning

Antony Hadjioannou

TITLE
Deputy Chief Financial Officer
TENURE
0.2 yrs

Neroutsos Konstantinos

TITLE
Executive Officer of design Development and Maintenance

Megalokonomos Konstantinos

TITLE
Executive Officer of Financial Department

Kokotsis Ioannis

TITLE
Executive Officer of Investments Programmes
Board of Directors Tenure

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

1.1
Average Tenure
60
Average Age
  • The average tenure for the Ellaktor board of directors is less than 3 years, this suggests a new board.
Board of Directors

George Provopoulos

TITLE
Chairman & Lead Independent Director
AGE
69
TENURE
1.1 yrs

Anastasios Kallitsantsis

TITLE
MD & Executive Director
AGE
66

Dimitrios Kalitsantsis

TITLE
Vice Chairman
AGE
67
TENURE
1.1 yrs

Iordanis Aivazis

TITLE
Non-Executive Director
AGE
69
TENURE
1.1 yrs

Takis Doumanoglou

TITLE
Non Executive Director
AGE
55
TENURE
1.1 yrs

Michail Katounas

TITLE
Independent Non Executive Director
AGE
44
TENURE
1.1 yrs

Alexios Komninos

TITLE
Independent Non Executive Director
AGE
54
TENURE
1.1 yrs

Diana Markaki

TITLE
Independent Non Executive Director
AGE
37
TENURE
1.1 yrs

Eleni Papakonstantinou

TITLE
Independent Non Executive Director
AGE
60
TENURE
1.1 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Ellaktor'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. Ellaktor 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

Ellaktor SA (ATH:ELLAKTOR): What Are Investors Earning On Their Capital?

This share represents a portion of capital used by the company to operate the business, and it is important the company is able to use the capital base efficiently to create adequate cash flows for you as an investor. … You need to pay attention to this because your return on investment is linked to dividends and internal investments to improve the business, which can only occur if the company is expected to produce adequate earnings with the capital that has been provided. … Therefore, looking at how efficiently Ellaktor is able to use capital to create earnings will help us understand your potential return.

Simply Wall St -

Understanding Your Return On Investment In Ellaktor SA (ATH:ELLAKTOR)

This share represents a portion of capital used by the company to operate the business, and it is important the company is able to use the capital base efficiently to create adequate cash flows for you as an investor. … You need to pay attention to this because your return on investment is linked to dividends and internal investments to improve the business, which can only occur if the company is expected to produce adequate earnings with the capital that has been provided. … To understand Ellaktor’s capital returns we will look at a useful metric called return on capital employed.

Simply Wall St -

Negative Sentiment Around Ellaktor SA (ATH:ELLAKTOR) Is Justified

Ellaktor SA (ATH:ELLAKTOR) is a company I've been following for a while, and although it's currently trading below its fair value, I have reasons to believe it may not actually reach this figure. … Whether a company has a good future, in terms of its business operation and financial health, is an important question to address. … Since starting in in Greece, the company has now grown to a market cap of €336.24m

Simply Wall St -

One Factor To Consider Before Investing In ELLAKTOR SA (ATH:ELLAKTOR)

Free cash flow (FCF) is the amount of cash ELLAKTOR has left after it pays off its expenses, including its net capital expenditures, which is what the company needs to spend each year to maintain or grow its business operations. … Free Cash Flow = Operating Cash Flows – Net Capital Expenditure Free Cash Flow Yield = Free Cash Flow / Enterprise Value where Enterprise Value = Market Capitalisation + Net Debt Although, ELLAKTOR generate sufficient cash from its operational activities, its FCF yield of 7.08% is roughly in-line with the broader market’s high single-digit yield. … Current +1 year +2 year +3 year Operating Cash Flow (OCF) €137.85M €115.20M €116.40M €148.11M OCF Growth Year-On-Year -16.43% 1.04% 27.24% OCF Growth From Current Year -15.56% 7.45% Next Steps: ELLAKTOR is compensating investors at a cash yield similar to the wider market portfolio.

Simply Wall St -

ELLAKTOR SA (ATH:ELLAKTOR): Is Breakeven Near?

See our latest analysis for ELLAKTOR According to the industry analysts covering ELLAKTOR, breakeven is near. … ELLAKTOR is therefore projected to breakeven around a couple of months from now! … How fast will ELLAKTOR have to grow each year in order to reach the breakeven point by 2019?

Simply Wall St -

Interested In ELLAKTOR SA (ATH:ELLAKTOR)? Here's How It Performed Recently

After reading ELLAKTOR SA's (ATSE:ELLAKTOR) latest earnings update (30 June 2017), I found it beneficial to look back at how the company has performed in the past and compare this against the most recent numbers. … For the purpose of this commentary, I like to use data from the most recent 12 months, which either annualizes the most recent 6-month earnings update, or in some cases, the most recent annual report is already the latest available financial data. … ATSE:ELLAKTOR Income Statement Apr 12th 18 We can further analyze ELLAKTOR's loss by looking at what the industry has been experiencing over the past few years.

Simply Wall St -

What You Must Know About ELLAKTOR SA's (ATH:ELLAKTOR) Financial Strength

On top of this, ELLAKTOR has produced €159.51M in operating cash flow during the same period of time, resulting in an operating cash to total debt ratio of 10.08%, signalling that ELLAKTOR’s operating cash is not sufficient to cover its debt. … In ELLAKTOR’s case, it is able to generate 0.1x cash from its debt capital. … Running high debt, while not yet making money, can be risky in unexpected downturns as liquidity may dry up, making it hard to operate.Next Steps: ELLAKTOR’s debt and cash flow levels indicate room for improvement.

Simply Wall St -

Is ELLAKTOR SA (ATH:ELLAKTOR) Cheap For A Reason?

Two major red flags for ELLAKTOR are its debt level exceeds equity on its balance sheet, and its cash from its core activities is only enough to cover a mere 8.66% of this large debt amount. … One reason I do like ELLAKTOR as a business is its low level of fixed assets on its balance sheet (14.67% of total assets). … ELLAKTOR has virtually no fixed assets, which minimizes its downside risk.

Simply Wall St -

Is It The Right Time To Buy ELLAKTOR SA (ATH:ELLAKTOR)?

ELLAKTOR SA (ATSE:ELLAKTOR), a construction company based in Greece, saw a decent share price growth in the teens level on the ATSE over the last few months. … So, could the stock still be trading at a low price relative to its actual value? … Although value investors would argue that it’s the intrinsic value relative to the price that matter the most, a more compelling investment thesis would be high growth potential at a cheap price.

Simply Wall St -

Company Info

Description

Ellaktor S.A., through its subsidiaries, engages in construction and quarrying, real estate development and management, wind power, environment, and concession businesses. It constructs infrastructure projects, such as bridges, ring roads, motorways, tunnels, and dams; Olympic Games projects; office buildings, industrial units, commercial and convention centers, hotels, hospitals, sport facilities, underground parking stations, and housing complexes; shopping centers, retail parks, supermarkets, and stores; and cultural centers. The company also constructs airports, cargo facilities, schools, sewage treatment plants, and gas metering stations; undertakes expansion and automation, electromechanical installation, landscaping, and planting works, as well as landscape restoration projects; and mines for gold, silver, copper, lead, zinc, manganese, etc. In addition, it constructs and operates concession projects, including roads, bridges, car park stations, motorways, and waste management concessions; and mechanical and biological treatment facilities, landfills, power generation plants using biogas from landfills, disposal sites of waste and organic waste through anaerobic digestion plants, hospital waste incinerators, and leachate treatment facilities. Further, the company owns and operates 16 wind parks, 1 photovoltaic plant, and 1 hydro plant with a total installed capacity of 2891 megawatts. Additionally, it develops, operates, manages, and sells retail parks, commercial and entertainment centers, residential complexes, exhibition centers, office buildings, and buildings for mixed purpose. Ellaktor S.A. operates in Greece, Other European countries, Gulf countries, the Americas, Africa, and Australia. The company was formerly known as ELLINIKI TECHNODOMIKI TEB SA and changed its name to Ellaktor S.A. in 2008. Ellaktor S.A. is headquartered in Athens, Greece.

Details
Name: Ellaktor S.A.
ELLAKTOR
Exchange: ATSE
Founded:
€421,500,957
209,701,969
Website: http://www.ellaktor.gr
Address: Ellaktor S.A.
25 Ermou Street,
Athens - Lamia National Road,
Athens,
145 64,
Greece
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ATSE ELLAKTOR Common Shares The Athens Stock Exchange GR EUR 19. Oct 1994
OTCPK ELLK.F Common Shares Pink Sheets LLC US USD 19. Oct 1994
DB HLL Common Shares Deutsche Boerse AG DE EUR 19. Oct 1994
OTCPK ELLK.Y ADR Pink Sheets LLC US USD 11. Feb 2009
Number of employees
Current staff
Staff numbers
5,906
Ellaktor employees.
Industry
Construction and Engineering
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/08/17 20:36
End of day share price update: 2019/08/16 00:00
Last estimates confirmation: 2019/04/26
Last earnings filing: 2019/04/24
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.