ATSE:MOH

Stock Analysis Report

Motor Oil (Hellas) Corinth Refineries

Executive Summary

Motor Oil (Hellas) Corinth Refineries S.A.

Snowflake

Fundamentals

Excellent balance sheet established dividend payer.

Share Price & News

How has Motor Oil (Hellas) Corinth Refineries's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

-6.4%

ATSE:MOH

-2.4%

GR Oil and Gas

-5.5%

GR Market


1 Year Return

2.5%

ATSE:MOH

-5.9%

GR Oil and Gas

5.4%

GR Market

MOH outperformed the Oil and Gas industry which returned -5.9% over the past year.

MOH underperformed the Market in Greece which returned 5.4% over the past year.


Share holder returns

MOHIndustryMarket
7 Day-6.4%-2.4%-5.5%
30 Day-8.5%-7.2%-8.5%
90 Day3.2%-8.2%9.2%
1 Year8.6%2.5%-0.8%-5.9%8.6%5.4%
3 Year137.7%98.1%39.0%19.5%50.3%36.7%
5 Year225.5%153.7%28.3%0.3%-52.9%-56.5%

Price Volatility Vs. Market

How volatile is Motor Oil (Hellas) Corinth Refineries's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Motor Oil (Hellas) Corinth Refineries undervalued based on future cash flows and its price relative to the stock market?

6.99x

Price to Earnings (PE) ratio


Intrinsic Value Based on Future Cash Flows

Motor Oil (Hellas) Corinth Refineries's share price is above the future cash flow value, it's not available at a moderate discount (< 20%).

Motor Oil (Hellas) Corinth Refineries's share price is above the future cash flow value, it's not available at a substantial discount (< 40%).


Price Based on Earnings

Motor Oil (Hellas) Corinth Refineries is good value based on earnings compared to the Europe Oil and Gas industry average.

Motor Oil (Hellas) Corinth Refineries is good value based on earnings compared to the Greece market.


Price Based on Expected Growth

Motor Oil (Hellas) Corinth Refineries earnings are not expected to grow next year, we can't assess if its growth is good value.


Price Based on Value of Assets

Motor Oil (Hellas) Corinth Refineries is overvalued based on assets compared to the Europe Oil and Gas industry average.


Next Steps

Future Growth

How is Motor Oil (Hellas) Corinth Refineries expected to perform in the next 1 to 3 years based on estimates from 8 analysts?

-1.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Motor Oil (Hellas) Corinth Refineries's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.

Motor Oil (Hellas) Corinth Refineries's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.

Motor Oil (Hellas) Corinth Refineries's revenues are expected to decrease over the next 1-3 years, this is below the Greece market average.

Motor Oil (Hellas) Corinth Refineries's earnings are expected to decrease over the next 1-3 years, this is below the Greece market average.

Motor Oil (Hellas) Corinth Refineries's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 4.9%.


Earnings per Share Growth Estimates


Future Return on Equity

Motor Oil (Hellas) Corinth Refineries is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).


Next Steps

Past Performance

How has Motor Oil (Hellas) Corinth Refineries performed over the past 5 years?

40.8%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Motor Oil (Hellas) Corinth Refineries has delivered over 20% year on year earnings growth in the past 5 years.

Motor Oil (Hellas) Corinth Refineries's 1-year earnings growth is less than its 5-year average (21.5% vs 40.8%)

Motor Oil (Hellas) Corinth Refineries's earnings growth has not exceeded the Europe Oil and Gas industry average in the past year (21.5% vs 37.3%).


Return on Equity

Motor Oil (Hellas) Corinth Refineries has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).


Return on Assets

Motor Oil (Hellas) Corinth Refineries used its assets more efficiently than the Europe Oil and Gas industry average last year based on Return on Assets.


Return on Capital Employed

Motor Oil (Hellas) Corinth Refineries's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).


Next Steps

Financial Health

How is Motor Oil (Hellas) Corinth Refineries's financial position?


Financial Position Analysis

Motor Oil (Hellas) Corinth Refineries is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.

Motor Oil (Hellas) Corinth Refineries's cash and other short term assets cover its long term commitments.


Debt to Equity History and Analysis

Motor Oil (Hellas) Corinth Refineries's level of debt (76.7%) compared to net worth is high (greater than 40%).

The level of debt compared to net worth has been reduced over the past 5 years (207.1% vs 76.7% today).

Debt is well covered by operating cash flow (36.4%, greater than 20% of total debt).

Interest payments on debt are well covered by earnings (EBIT is 11.7x coverage).


Balance Sheet

High level of physical assets or inventory.

Debt is covered by short term assets, assets are 1.9x debt.


Next Steps

Dividend

What is Motor Oil (Hellas) Corinth Refineries's current dividend yield, its reliability and sustainability?

6.97%

Expected Dividend Yield


Dividend Yield and Payments Analysis

Motor Oil (Hellas) Corinth Refineries's pays a higher dividend yield than the bottom 25% of dividend payers in Greece (1.91%).

Motor Oil (Hellas) Corinth Refineries's dividend is above the markets top 25% of dividend payers in Greece (3.94%).

Dividends per share have been volatile in the past 10 years (annual drop of over 20%).

Dividends per share have increased over the past 10 years.


Current Payout to Shareholders

Dividends paid are well covered by earnings (2.2x coverage).


Future Payout to Shareholders

Dividends after 3 years are expected to be well covered by earnings (2x coverage).


Next Steps

Management

What is the CEO of Motor Oil (Hellas) Corinth Refineries's salary, the management and board of directors tenure and is there insider trading?

8.4yrs

Average management tenure


CEO

Vardis Vardinoyannis (86yo)

0.0yrs

Tenure

0

Mr. Vardis John Vardinoyannis serves as the Chairman, Managing Director and Chief Executive Representative at Motor Oil Hellas Corinth Refineries SA. Mr. Vardinoyannis is one of the founders of Motor Oil H ...


Management Age and Tenure

8.4yrs

Average Tenure

64yo

Average Age

The average tenure for the Motor Oil (Hellas) Corinth Refineries management team is over 5 years, this suggests they are a seasoned and experienced team.


Board Age and Tenure

8.4yrs

Average Tenure

68yo

Average Age

The tenure for the Motor Oil (Hellas) Corinth Refineries board of directors is about average.


Insider Trading

No 3 month open market individual insider trading information.


Ownership Breakdown


Management Team

  • Vardis Vardinoyannis (86yo)

    Chairman & MD

    • Tenure: 0.0yrs
  • Petros Tzannetakis (64yo)

    Deputy MD

    • Tenure: 0.0yrs
  • Spyros Balezos

    Group Banking Manager & Treasurer

    • Tenure: 0.0yrs
  • Ioannis Dimakis

    Head of Shareholders’ Office & Corporate Announcements Officer

    • Tenure: 0.0yrs
  • Ioannis Kosmadakis (67yo)

    Deputy MD & Director

    • Tenure: 13.3yrs
  • Theodoros Porfiris

    Chief Accountant

    • Tenure: 0.0yrs
  • Michael-Matheos Stiakakis (64yo)

    GM of Refinery Manufacturing & Executive Director

    • Tenure: 8.4yrs
  • Philip Malergos

    Financial Controller

    • Tenure: 0.0yrs
  • Theofanis Voutsaras (56yo)

    General Manager of Administration & Human Resources and Executive Director

    • Tenure: 8.7yrs
  • Relina Kontoyiannis (57yo)

    General Manager of Marketing

    • Tenure: 1.6yrs

Board Members

  • Georgios Alexandridis (86yo)

    Non-Executive Director

    • Tenure: 0.0yrs
  • Vardis Vardinoyannis (86yo)

    Chairman & MD

    • Tenure: 0.0yrs
  • Petros Tzannetakis (64yo)

    Deputy MD

    • Tenure: 0.0yrs
  • Demosthenes Vardinoyannis

    Non-Executive Director

    • Tenure: 0.2yrs
  • Antonios Theocharis (86yo)

    Non Executive Independent Director

    • Tenure: 13.3yrs
  • Ioannis Kosmadakis (67yo)

    Deputy MD & Director

    • Tenure: 13.3yrs
  • Michael-Matheos Stiakakis (64yo)

    GM of Refinery Manufacturing & Executive Director

    • Tenure: 8.4yrs
  • Theofanis Voutsaras (56yo)

    General Manager of Administration & Human Resources and Executive Director

    • Tenure: 8.7yrs
  • Panayotis Constantaras (69yo)

    Non Executive Independent Director

    • Tenure: 1.6yrs
  • Yannis Vardinoyannis

    Vice Chairman

    • Tenure: 0.6yrs

Company Information

Motor Oil (Hellas) Corinth Refineries S.A.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Motor Oil (Hellas) Corinth Refineries S.A.
  • Ticker: MOH
  • Exchange: ATSE
  • Founded: 1970
  • Industry: Oil and Gas Refining and Marketing
  • Sector: Energy
  • Market Cap: €2.260b
  • Shares outstanding: 110.78m
  • Website: https://www.moh.gr

Number of Employees


Location

  • Motor Oil (Hellas) Corinth Refineries S.A.
  • Irodou Attikou 12A
  • Maroussi
  • 151 24
  • Greece

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
MHZDB (Deutsche Boerse AG)YesOrdinary SharesDEEURAug 2001
MOHATSE (The Athens Stock Exchange)YesOrdinary SharesGREURAug 2001
0MQTLSE (London Stock Exchange)YesOrdinary SharesGBEURAug 2001
MOHC.YOTCPK (Pink Sheets LLC)UNSPONSORED ADRUSUSDOct 2008

Biography

Motor Oil (Hellas) Corinth Refineries S.A. engages in oil refining and oil products trading in Greece and internationally. It operates through three segments: Refinery’s Activities, Sales to/from Gas Stati ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/08/18 20:40
End of Day Share Price2019/08/16 00:00
Earnings2019/03/31
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.