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FrigoglassI.C

ATSE:FRIGO
Snowflake Description

Adequate balance sheet and slightly overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
FRIGO
ATSE
€38M
Market Cap
  1. Home
  2. GR
  3. Capital Goods
Company description

Frigoglass S.A.I.C., together with its subsidiaries, engages in the manufacture, trade, and distribution of commercial refrigeration units and packaging materials for the beverage industry. The last earnings update was 26 days ago. More info.


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  • FrigoglassI.C has significant price volatility in the past 3 months.
FRIGO Share Price and Events
7 Day Returns
8%
ATSE:FRIGO
2.1%
Europe Machinery
0.6%
GR Market
1 Year Returns
-42.6%
ATSE:FRIGO
-8.4%
Europe Machinery
-7.1%
GR Market
FRIGO Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
FrigoglassI.C (FRIGO) 8% -13.6% -9.2% -42.6% -83.3% -99.1%
Europe Machinery 2.1% 10.7% 13.8% -8.4% 28.5% 30.9%
GR Market 0.6% 8.5% 18.5% -7.1% 20.3% -77.7%
1 Year Return vs Industry and Market
  • FRIGO underperformed the Machinery industry which returned -8.4% over the past year.
  • FRIGO underperformed the Market in Greece which returned -7.1% over the past year.
Price Volatility
FRIGO
Industry
5yr Volatility vs Market

FRIGO Value

 Is FrigoglassI.C 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 FrigoglassI.C 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 FrigoglassI.C.

ATSE:FRIGO Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. 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:FRIGO
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GR Govt Bond Rate 4.9%
Equity Risk Premium S&P Global 15%
Machinery Unlevered Beta Simply Wall St/ S&P Global 1.07
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.066 (1 + (1- 29%) (717.06%))
4.68
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:FRIGO using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for FrigoglassI.C 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.

ATSE:FRIGO DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 34.91%)
2019 18.83 Est @ 15.34% 13.96
2020 21.13 Est @ 12.21% 11.61
2021 23.25 Est @ 10.03% 9.47
2022 25.22 Est @ 8.5% 7.61
2023 27.10 Est @ 7.43% 6.06
2024 28.91 Est @ 6.68% 4.79
2025 30.69 Est @ 6.16% 3.77
2026 32.46 Est @ 5.79% 2.96
2027 34.26 Est @ 5.53% 2.31
2028 36.09 Est @ 5.35% 1.81
Present value of next 10 years cash flows €64.35
ATSE:FRIGO DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €36.09 × (1 + 4.93%) ÷ (34.91% – 4.93%)
€126.32
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €126.32 ÷ (1 + 34.91%)10
€6.32
ATSE:FRIGO Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €64.35 + €6.32
€70.67
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €70.67 / 355.44
€0.2
ATSE:FRIGO Discount to Share Price
Calculation Result
Value per share (EUR) From above. €0.20
Current discount Discount to share price of €0.11
= -1 x (€0.11 - €0.20) / €0.20
45.7%

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

Current Discount
Amount off the current price FrigoglassI.C is available for.
Intrinsic value
46%
Share price is €0.108 vs Future cash flow value of €0.19883
Current Discount Checks
For FrigoglassI.C to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • FrigoglassI.C's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • FrigoglassI.C's share price is below the future cash flow value, and 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 FrigoglassI.C's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are FrigoglassI.C's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ATSE:FRIGO PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in EUR €-0.02
ATSE:FRIGO Share Price ** ATSE (2019-04-23) in EUR €0.11
Europe Machinery Industry PE Ratio Median Figure of 184 Publicly-Listed Machinery Companies 16.49x
Greece Market PE Ratio Median Figure of 96 Publicly-Listed Companies 14.33x

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

** Primary Listing of FrigoglassI.C.

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

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

= 0.11 ÷ -0.02

-5.18x

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

  • FrigoglassI.C is loss making, we can't compare its value to the Europe Machinery industry average.
  • FrigoglassI.C is loss making, we can't compare the value of its earnings to the Greece market.
Price based on expected Growth
Does FrigoglassI.C's expected growth come at a high price?
Raw Data
ATSE:FRIGO PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -5.18x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
Europe Machinery Industry PEG Ratio Median Figure of 121 Publicly-Listed Machinery Companies 1.94x
Greece Market PEG Ratio Median Figure of 19 Publicly-Listed Companies 1.1x

*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 FrigoglassI.C, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on FrigoglassI.C's assets?
Raw Data
ATSE:FRIGO PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in EUR €-0.26
ATSE:FRIGO Share Price * ATSE (2019-04-23) in EUR €0.11
Europe Machinery Industry PB Ratio Median Figure of 247 Publicly-Listed Machinery Companies 1.79x
Greece Market PB Ratio Median Figure of 138 Publicly-Listed Companies 0.89x
ATSE:FRIGO PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 0.11 ÷ -0.26

-0.42x

* Primary Listing of FrigoglassI.C.

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

  • FrigoglassI.C has negative assets, we can't compare the value of its assets to the Europe Machinery industry average.
X
Value checks
We assess FrigoglassI.C'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 Machinery 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 Machinery industry average (and greater than 0)? (1 check)
  5. FrigoglassI.C has a total score of 2/6, 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.

FRIGO Future Performance

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

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 FrigoglassI.C 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 Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

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
8.4%
Expected Machinery industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is FrigoglassI.C expected to grow at an attractive rate?
  • Unable to compare FrigoglassI.C's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare FrigoglassI.C's earnings growth to the Greece market average as no estimate data is available.
  • Unable to compare FrigoglassI.C's revenue growth to the Greece market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
ATSE:FRIGO Future Growth Rates Data Sources
Data Point Source Value (per year)
Europe Machinery Industry Earnings Growth Rate Market Cap Weighted Average 8.4%
Europe Machinery Industry Revenue Growth Rate Market Cap Weighted Average 4.1%
Greece Market Earnings Growth Rate Market Cap Weighted Average 16.4%
Greece Market Revenue Growth Rate Market Cap Weighted Average 8.8%

*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
ATSE:FRIGO Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ATSE:FRIGO Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
ATSE:FRIGO Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-12-31 417 41 -7
2018-09-30 435 -1 68
2018-06-30 430 -16 60
2018-03-31 403 -34 36
2017-12-31 386 -34 28
2017-09-30 339 3 -52
2017-06-30 346 18 -56
2017-03-31 369 26 -52
2016-12-31 382 28 -49
2016-09-30 413 22 -80
2016-06-30 428 15 -83
2016-03-31 436 36 -67

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if FrigoglassI.C is high growth as no earnings estimate data is available.
  • Unable to determine if FrigoglassI.C is high growth as no revenue estimate data is available.
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:FRIGO 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 0 Analyst Estimates (S&P Global) See Below

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

ATSE:FRIGO Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
ATSE:FRIGO Past Financials Data
Date (Data in EUR Millions) EPS *
2018-12-31 -0.02
2018-09-30 0.20
2018-06-30 0.24
2018-03-31 0.21
2017-12-31 0.33
2017-09-30 -3.08
2017-06-30 -3.34
2017-03-31 -3.06
2016-12-31 -2.93
2016-09-30 -4.76
2016-06-30 -4.94
2016-03-31 -3.95

*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.
  • Unable to establish if FrigoglassI.C will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Examine FrigoglassI.C's financial health to determine how well-positioned it is against times of financial stress by looking at its level of debt over time and how much cash it has left.
  2. FrigoglassI.C's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Capital Goods companies here
  3. FrigoglassI.C's competitive advantages and company strategy can generally be found in its financial reports archived here.
  4. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess FrigoglassI.C'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.
FrigoglassI.C has a total score of 0/6, 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.

FRIGO Past Performance

  How has FrigoglassI.C 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 FrigoglassI.C's growth in the last year to its industry (Machinery).
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.
  • FrigoglassI.C does not make a profit even though their year on year earnings growth rate was positive over the past 5 years.
  • Unable to compare FrigoglassI.C's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare FrigoglassI.C's 1-year growth to the Europe Machinery industry average as it is not currently profitable.
Earnings and Revenue History
FrigoglassI.C'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 FrigoglassI.C Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ATSE:FRIGO Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 417.30 -7.40 41.83 3.59
2018-09-30 434.64 67.82 42.10 3.54
2018-06-30 430.39 60.15 41.95 3.47
2018-03-31 403.50 35.80 41.19 3.59
2017-12-31 386.05 27.61 41.30 3.74
2017-09-30 339.26 -52.00 44.12 3.56
2017-06-30 346.41 -56.34 45.09 3.96
2017-03-31 368.65 -51.59 48.54 4.02
2016-12-31 382.34 -49.50 49.65 4.09
2016-09-30 412.81 -80.31 50.51 4.41
2016-06-30 428.42 -83.25 51.30 4.41
2016-03-31 435.78 -66.56 51.23 4.56
2015-12-31 453.88 -62.09 51.67 4.43
2015-09-30 597.73 -24.29 59.62 4.36
2015-06-30 551.15 -19.46 58.95 4.24
2015-03-31 515.93 -56.62 57.32 4.06
2014-12-31 487.05 -56.50 56.15 4.14
2014-09-30 380.12 -85.21 48.11 4.15
2014-06-30 410.57 -81.64 49.75 4.18
2014-03-31 473.01 -38.15 52.10 4.26
2013-12-31 522.51 -30.77 56.30 4.31
2013-09-30 538.03 -19.35 60.15 4.27
2013-06-30 556.04 -21.51 61.56 4.36
2013-03-31 562.75 -19.10 64.07 4.45
2012-12-31 581.25 -14.96 63.81 4.46
2012-09-30 555.54 6.63 59.63 4.55
2012-06-30 570.94 17.21 58.01 4.31

*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 FrigoglassI.C has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) due to its liabilities exceeding its assets.
  • FrigoglassI.C used its assets less efficiently than the Europe Machinery industry average last year based on Return on Assets.
  • It is difficult to establish if FrigoglassI.C 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 FrigoglassI.C'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 Machinery 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.
FrigoglassI.C 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.

FRIGO Health

 How is FrigoglassI.C'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 FrigoglassI.C's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • FrigoglassI.C is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • FrigoglassI.C's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of FrigoglassI.C'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.
  • High level of physical assets or inventory.
  • FrigoglassI.C has negative shareholder equity (liabilities exceed assets) therefore debt is not covered by short term assets.
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 FrigoglassI.C Company Filings, last reported 3 months ago.

ATSE:FRIGO Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 -42.96 275.26 49.06
2018-09-30 -40.21 278.51 67.83
2018-06-30 -38.21 280.44 68.59
2018-03-31 -47.28 283.71 53.92
2017-12-31 -42.27 275.86 53.13
2017-09-30 -185.99 386.75 56.09
2017-06-30 -171.70 385.42 55.29
2017-03-31 -108.65 380.90 51.48
2016-12-31 -128.85 381.88 57.53
2016-09-30 -82.32 392.73 77.58
2016-06-30 -63.31 379.87 60.33
2016-03-31 -12.44 370.01 62.96
2015-12-31 -0.42 362.01 58.06
2015-09-30 37.69 348.00 48.03
2015-06-30 54.86 343.93 40.63
2015-03-31 61.47 332.62 44.85
2014-12-31 66.98 303.07 68.81
2014-09-30 83.41 299.59 46.73
2014-06-30 82.95 309.43 69.95
2014-03-31 116.56 310.72 34.79
2013-12-31 112.51 294.30 61.39
2013-09-30 155.88 338.13 69.84
2013-06-30 168.94 325.02 68.29
2013-03-31 158.08 319.06 27.08
2012-12-31 151.43 300.37 78.33
2012-09-30 174.72 324.73 28.12
2012-06-30 191.79 327.99 86.91
  • FrigoglassI.C has negative shareholder equity (liabilities exceed assets), this is a more serious situation compared with a high debt level.
  • Irrelevant to check if FrigoglassI.C's debt level has increased considering it has negative shareholder equity.
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.

  • Whilst loss making FrigoglassI.C has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.
  • Whilst loss making FrigoglassI.C has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 32.9% per year.
X
Financial health checks
We assess FrigoglassI.C'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. FrigoglassI.C has a total score of 4/6, 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.

FRIGO Dividends

 What is FrigoglassI.C'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 FrigoglassI.C dividends.
If you bought €2,000 of FrigoglassI.C 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 FrigoglassI.C's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate FrigoglassI.C'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:FRIGO 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 0 Analyst Estimates (S&P Global) See Below
Europe Machinery Industry Average Dividend Yield Market Cap Weighted Average of 141 Stocks 2.5%
Greece Market Average Dividend Yield Market Cap Weighted Average of 51 Stocks 4.1%
Greece Minimum Threshold Dividend Yield 10th Percentile 1%
Greece Bottom 25% Dividend Yield 25th Percentile 1.6%
Greece Top 25% Dividend Yield 75th Percentile 4.7%

Industry and Market average data is calculated daily.

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

ATSE:FRIGO Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
ATSE:FRIGO Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2012-05-10 0.000 0.000
2012-02-23 0.000 0.000
2011-11-08 0.000 0.000
2011-08-04 0.000 0.000
2011-07-28 0.000 0.000
2011-05-12 0.000 0.000
2011-05-02 0.000 0.000
2011-02-22 0.000 0.000
2011-02-18 0.000 0.000
2010-07-05 0.255 1.102

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

  • Unable to perform a dividend volatility check as FrigoglassI.C has not reported any payouts.
  • Unable to verify if FrigoglassI.C's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of FrigoglassI.C's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as FrigoglassI.C 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.
X
Income/ dividend checks
We assess FrigoglassI.C'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 FrigoglassI.C afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. FrigoglassI.C 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.

FRIGO Management

 What is the CEO of FrigoglassI.C'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
Nikos Mamoulis
TENURE AS CEO 3.8 years
CEO Bio

Mr. Nikolaos Mamoulis, also known as Nikos, has been the Chief Executive Officer at Frigoglass SAIC since July 10, 2015 and serves as its Managing Director. Mr. Mamoulis served as the Chief Financial Officer of Frigoglass SAIC from October 2013 to July 10, 2015. He served as Chief Financial Officer at Boutaris Group, Hellenic Bottling Company (3E) and Lafarge – Heracles General Cement Company and the Boutros Group. He began his career in 1987 where he held various positions in the finance field. He rejoined Coca-Cola Hellenic in 2005 as Region Finance Director covering almost all Group operations and served as Group Financial Controller since 2010. He has wealth of experience in the container glass industry. He has more than 25 years of experience in senior financial positions with different business sectors and a wealth of knowledge in Finance and International markets. He has been the Chairman of the Board and Director at Coca-Cola Hellenic Bottling Company S.A. since April 2013. He has been an Executive Director at Frigoglass SAIC since August 02, 2015. He has been a Non Executive Director of Beta Glass Plc since March 17, 2016. Mr. Mamoulis holds a Bachelor’s degree in Business Administration from the Economic University of Athens.

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

Average tenure of the FrigoglassI.C management team in years:

3.8
Average Tenure
  • The tenure for the FrigoglassI.C management team is about average.
Management Team

Nikos Mamoulis

TITLE
CEO, MD & Executive Director
TENURE
3.8 yrs

Charalampos Goritsas

TITLE
Group Chief Financial Officer
TENURE
0.7 yrs

Ioannis Stamatakos

TITLE
Investor Relations Manager

Manolis Souliotis

TITLE
Group Human Resources Director
TENURE
4.8 yrs

Vasileios Stergiou

TITLE
Head of Finance

Loucas Komis

TITLE
Secretary & Non-Executive Director
Board of Directors Tenure

Average tenure and age of the FrigoglassI.C board of directors in years:

3.7
Average Tenure
66.5
Average Age
  • The tenure for the FrigoglassI.C board of directors is about average.
Board of Directors

Harry David

TITLE
Non-Executive Chairman
TENURE
12.4 yrs

Nikos Mamoulis

TITLE
CEO, MD & Executive Director
TENURE
3.7 yrs

George Leventis

TITLE
Vice Chairman
TENURE
1.3 yrs

Loucas Komis

TITLE
Secretary & Non-Executive Director
TENURE
22.8 yrs

Iordanis Aivazis

TITLE
Independent Non-Executive Director
AGE
68
TENURE
1.3 yrs

Evangelos Kaloussis

TITLE
Independent Non-Executive Director
AGE
75
TENURE
12.8 yrs

John Costopoulos

TITLE
Independent Non-Executive Director
TENURE
4.1 yrs

Jeremy Michael Jorgen Jensen

TITLE
Independent Non-Executive Director
AGE
59
TENURE
1.3 yrs

Stephen Bentley

TITLE
Independent Non-Executive Director
AGE
65
TENURE
1.3 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 (€)
X
Management checks
We assess FrigoglassI.C'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. FrigoglassI.C 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.

FRIGO News

Simply Wall St News

Frigoglass SAIC (ATH:FRIGO): 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. … This is because the actual cash flow generated by the business dictates the potential for income (dividends) and capital appreciation (price increases), which are the two ways to achieve positive returns when buying a stock. … Thus, to understand how your money can grow by investing in FrigoglassI.C, you need to look at what the company returns to owners for the use of their capital, which can be done in many ways but today we will use return on capital employed (ROCE)

Simply Wall St -

Is It Time To Buy Frigoglass SAIC (ATH:FRIGO) Based Off Its PE Ratio?

and want to better understand how you can grow your money by investing in Frigoglass SAIC (ATH:FRIGO). … Frigoglass SAIC (ATH:FRIGO) is trading with a trailing P/E of 0.8x, which is lower than the industry average of 21x. … While this makes FRIGO appear like a great stock to buy, you might change your mind after I explain the assumptions behind the P/E ratio

Simply Wall St -

How Does Frigoglass SA.I.C. (ATH:FRIGO)’s Prospect Stack Up To Its Capital Goods Peers?

As an industry laggard, FrigoglassI.C may be a cheaper stock relative to its peers. … ATSE:FRIGO PE PEG Gauge Jun 7th 18 The machinery industry is trading at a PE ratio of 23.06x, above the broader GR stock market PE of 14.47x. … Next Steps: FrigoglassI.C is a machinery industry laggard in terms of its future growth outlook.

Simply Wall St -

Who Are Frigoglass SA.I.C.'s (ATH:FRIGO) Major Shareholders?

In this article, I'm going to take a look at Frigoglass SA.I.C.’s (ATSE:FRIGO) latest ownership structure, a non-fundamental factor which is important, but remains a less discussed subject among investors. … The implications of these institutions’ actions can either benefit or hinder individual investors, so it is important to understand the ownership composition of your stock investment. … Check out our latest analysis for FrigoglassI.C ATSE:FRIGO Ownership_summary May 27th 18 Institutional Ownership Institutional investors are one of the largest group of market participants and their buy-sell decisions on a company's stock can significantly impact prices, more so, when there are relatively small amounts of shares available on the market to trade.

Simply Wall St -

Is Frigoglass SA.I.C. (ATH:FRIGO) A Buy At Its Current PE Ratio?

Formula Price-Earnings Ratio = Price per share ÷ Earnings per share P/E Calculation for FRIGO Price per share = €0.19 Earnings per share = €0.33 ∴ Price-Earnings Ratio = €0.19 ÷ €0.33 = 0.6x The P/E ratio itself doesn’t tell you a lot; however, it becomes very insightful when you compare it with other similar companies. … For example, if you accidentally compared higher growth firms with FRIGO, then FRIGO’s P/E would naturally be lower since investors would reward its peers’ higher growth with a higher price. … Alternatively, if you inadvertently compared less risky firms with FRIGO, FRIGO’s P/E would again be lower since investors would reward its peers’ lower risk with a higher price as well.

Simply Wall St -

Should You Buy Frigoglass SA.I.C. (ATH:FRIGO)?

My valuation model shows that the intrinsic value for the stock is €0.7, but it is currently trading at €0.17 on the share market, meaning that there is still an opportunity to buy now. … 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. … With a positive outlook on the horizon, it seems like this growth has not yet been fully factored into the share price.

Simply Wall St -

FRIGO Company Info

Description

Frigoglass S.A.I.C., together with its subsidiaries, engages in the manufacture, trade, and distribution of commercial refrigeration units and packaging materials for the beverage industry. The company operates through Ice Cold Merchandise Operations and Glass Operations segments. It also offers glass bottles and containers, primarily for soft drinks, beer, and spirits industries, as well as in the cosmetics and pharmaceutical industries; and produces plastic crates and metal crowns. In addition, the company provides integrated, standard and post warranty, repair call management, rebranding and refurbishment, one-to-one placement, spare parts management, preventive maintenance, and technical training services. It primarily operates in East Europe, West Europe, Africa, the Middle East, Asia, Oceania, and the United Sates. The company was founded in 1996 and is based in Athens, Greece.

Details
Name: Frigoglass S.A.I.C.
FRIGO
Exchange: ATSE
Founded: 1996
€38,387,277
355,437,751
Website: http://www.frigoglass.com
Address: Frigoglass S.A.I.C.
15, A. Metaxa Street,
Kifissia,
Athens,
145 64,
Greece
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ATSE FRIGO Ordinary Shares The Athens Stock Exchange GR EUR 03. Dec 1999
BST FP6N Ordinary Shares Boerse-Stuttgart DE EUR 03. Dec 1999
LSE 0RTT Ordinary Shares London Stock Exchange GB EUR 03. Dec 1999
Number of employees
Current staff
Staff numbers
3,350
FrigoglassI.C employees.
Industry
Industrial Machinery
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/23 20:36
End of day share price update: 2019/04/23 00:00
Last estimates confirmation: 2018/04/25
Last earnings filing: 2019/03/28
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.