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F.G. Europe

ATSE:FGE
Snowflake Description

Moderate growth potential with questionable track record.

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

F.G. Europe S.A. engages in the import and trading of consumer durable goods in Europe. The last earnings update was 30 days ago. More info.


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  • F.G. Europe has significant price volatility in the past 3 months.
FGE Share Price and Events
7 Day Returns
0%
ATSE:FGE
0.2%
Europe Retail Distributors
-0%
GR Market
1 Year Returns
-0.9%
ATSE:FGE
-7.4%
Europe Retail Distributors
-6.5%
GR Market
FGE Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
F.G. Europe (FGE) 0% 38.4% 50.8% -0.9% -15.8% -48.2%
Europe Retail Distributors 0.2% 7.4% 5.4% -7.4% -7% -0.1%
GR Market -0% 7.8% 17.3% -6.5% 23.5% -59.5%
1 Year Return vs Industry and Market
  • FGE outperformed the Retail Distributors industry which returned -7.4% over the past year.
  • FGE outperformed the Market in Greece which returned -6.5% over the past year.

Value

 Is F.G. Europe 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 F.G. Europe 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 F.G. Europe.

ATSE:FGE 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 32.7%
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:FGE
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GR Govt Bond Rate 4.9%
Equity Risk Premium S&P Global 15%
Retail Distributors Unlevered Beta Simply Wall St/ S&P Global 0.87
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.87 (1 + (1- 29%) (226.2%))
1.849
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.85
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 4.93% + (1.849 * 14.99%)
32.65%

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

The calculations below outline how an intrinsic value for F.G. Europe 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:FGE DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 32.65%)
2019 1.77 Est @ -4.56% 1.33
2020 1.74 Est @ -1.72% 0.99
2021 1.74 Est @ 0.28% 0.75
2022 1.77 Est @ 1.67% 0.57
2023 1.82 Est @ 2.65% 0.44
2024 1.88 Est @ 3.34% 0.35
2025 1.95 Est @ 3.81% 0.27
2026 2.03 Est @ 4.15% 0.21
2027 2.12 Est @ 4.38% 0.17
2028 2.22 Est @ 4.55% 0.13
Present value of next 10 years cash flows €5.21
ATSE:FGE DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €2.22 × (1 + 4.93%) ÷ (32.65% – 4.93%)
€8.40
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €8.40 ÷ (1 + 32.65%)10
€0.50
ATSE:FGE Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €5.21 + €0.50
€5.71
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €5.71 / 52.80
€0.11
ATSE:FGE Discount to Share Price
Calculation Result
Value per share (EUR) From above. €0.11
Current discount Discount to share price of €0.57
= -1 x (€0.57 - €0.11) / €0.11
-427.4%

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

  • The current share price of F.G. Europe is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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 F.G. Europe's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are F.G. Europe's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ATSE:FGE PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in EUR €0.00
ATSE:FGE Share Price ** ATSE (2019-04-25) in EUR €0.57
Europe Retail Distributors Industry PE Ratio Median Figure of 21 Publicly-Listed Retail Distributors Companies 17.53x
Greece Market PE Ratio Median Figure of 96 Publicly-Listed Companies 15.05x

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

** Primary Listing of F.G. Europe.

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

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

= 0.57 ÷ 0.00

198.05x

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

  • F.G. Europe is overvalued based on earnings compared to the Europe Retail Distributors industry average.
  • F.G. Europe is overvalued based on earnings compared to the Greece market.
Price based on expected Growth
Does F.G. Europe's expected growth come at a high price?
Raw Data
ATSE:FGE PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 198.05x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
38.7%per year
Europe Retail Distributors Industry PEG Ratio Median Figure of 7 Publicly-Listed Retail Distributors Companies 1.1x
Greece Market PEG Ratio Median Figure of 19 Publicly-Listed Companies 1.12x

*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 F.G. Europe, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on F.G. Europe's assets?
Raw Data
ATSE:FGE PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in EUR €0.27
ATSE:FGE Share Price * ATSE (2019-04-25) in EUR €0.57
Europe Retail Distributors Industry PB Ratio Median Figure of 25 Publicly-Listed Retail Distributors Companies 1.56x
Greece Market PB Ratio Median Figure of 138 Publicly-Listed Companies 0.86x
ATSE:FGE PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 0.57 ÷ 0.27

2.1x

* Primary Listing of F.G. Europe.

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

  • F.G. Europe is overvalued based on assets compared to the Europe Retail Distributors industry average.
X
Value checks
We assess F.G. Europe'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 Retail Distributors 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 Retail Distributors industry average (and greater than 0)? (1 check)
  5. F.G. Europe 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 F.G. Europe expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover F.G. Europe, future earnings growth has been estimated based on fundamentals.
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
38.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is F.G. Europe expected to grow at an attractive rate?
  • F.G. Europe's earnings growth is expected to exceed the low risk savings rate of 4.9%.
Growth vs Market Checks
  • F.G. Europe's earnings growth is expected to exceed the Greece market average.
  • Unable to compare F.G. Europe's revenue growth to the Greece market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
ATSE:FGE Future Growth Rates Data Sources
Data Point Source Value (per year)
ATSE:FGE Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 38.7%
Europe Retail Distributors Industry Earnings Growth Rate Market Cap Weighted Average 22.4%
Europe Retail Distributors Industry Revenue Growth Rate Market Cap Weighted Average 1.8%
Greece Market Earnings Growth Rate Market Cap Weighted Average 15.7%
Greece Market Revenue Growth Rate Market Cap Weighted Average 8.6%

*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:FGE 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:FGE Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
ATSE:FGE Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-12-31 69 2 0
2018-06-30 94 -19 -2
2018-03-31 95 -8 -1
2017-12-31 73 2 -1
2017-09-30 96 6 0
2017-06-30 95 9 1
2017-03-31 95 4 2
2016-12-31 95 -1 2
2016-09-30 92 14 0
2016-06-30 101 18 2
2016-03-31 99 14 -1

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • F.G. Europe's earnings are expected to grow significantly at over 20% yearly.
  • Unable to determine if F.G. Europe 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:FGE 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 F.G. Europe Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ATSE:FGE Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
ATSE:FGE Past Financials Data
Date (Data in EUR Millions) EPS *
2018-12-31 0.00
2018-06-30 -0.04
2018-03-31 -0.03
2017-12-31 -0.02
2017-09-30 0.00
2017-06-30 0.02
2017-03-31 0.03
2016-12-31 0.03
2016-09-30 0.00
2016-06-30 0.03
2016-03-31 -0.02

*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 F.G. Europe will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess F.G. Europe'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.
F.G. Europe 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 F.G. Europe 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 F.G. Europe's growth in the last year to its industry (Retail Distributors).
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.
  • F.G. Europe's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • F.G. Europe has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • F.G. Europe has become profitable in the last year making it difficult to compare the Europe Retail Distributors industry average.
Earnings and Revenue History
F.G. Europe'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 F.G. Europe Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ATSE:FGE 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 69.46 0.15 15.45
2018-06-30 93.68 -1.85 19.52
2018-03-31 95.37 -1.42 19.13
2017-12-31 73.18 -1.00 14.92
2017-09-30 95.91 0.13 17.67
2017-06-30 94.76 1.25 16.59
2017-03-31 94.77 1.51 17.30
2016-12-31 94.79 1.78 18.00
2016-09-30 92.42 -0.14 19.09
2016-06-30 100.55 1.74 20.11
2016-03-31 99.27 -0.89 20.89
2015-12-31 95.15 -0.04 19.04
2015-09-30 94.09 1.30 18.22
2015-06-30 78.05 -3.38 17.82
2015-03-31 80.03 -1.64 15.62
2014-12-31 72.72 -3.60 15.57
2014-09-30 73.77 -3.59 15.29
2014-06-30 80.18 -1.54 15.21
2014-03-31 92.76 2.10 15.06
2013-12-31 99.10 3.64 15.40
2013-09-30 103.73 3.65 17.37
2013-06-30 113.41 4.66 18.15
2013-03-31 113.30 4.68 18.47
2012-12-31 111.12 4.79 18.47
2012-09-30 104.99 4.94 18.38
2012-06-30 101.24 5.51 18.26

*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.
  • F.G. Europe has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • F.G. Europe used its assets less efficiently than the Europe Retail Distributors industry average last year based on Return on Assets.
  • F.G. Europe has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess F.G. Europe'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 Retail Distributors 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.
F.G. Europe has a total score of 2/6, 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 F.G. Europe'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 F.G. Europe's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • F.G. Europe is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • F.G. Europe's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of F.G. Europe'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.
  • Debt is covered by short term assets, assets are 1.3x 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 F.G. Europe Company Filings, last reported 3 months ago.

ATSE:FGE Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 30.61 68.08 2.60
2018-06-30 35.54 76.37 5.37
2018-03-31 35.54 76.37 5.37
2017-12-31 38.94 70.04 5.35
2017-09-30 38.94 70.04 5.35
2017-06-30 40.65 68.54 18.85
2017-03-31 40.65 68.54 18.85
2016-12-31 39.55 76.32 9.92
2016-09-30 39.55 76.32 9.92
2016-06-30 39.19 79.53 20.38
2016-03-31 39.19 79.53 20.38
2015-12-31 36.56 88.28 20.62
2015-09-30 38.17 74.21 4.27
2015-06-30 36.39 76.60 6.82
2015-03-31 37.46 74.49 4.43
2014-12-31 35.59 78.74 5.48
2014-09-30 35.02 81.62 5.50
2014-06-30 37.87 85.26 18.38
2014-03-31 48.65 87.38 23.02
2013-12-31 49.37 80.72 12.14
2013-09-30 50.17 76.08 6.84
2013-06-30 50.28 73.83 12.77
2013-03-31 57.24 78.78 8.68
2012-12-31 55.39 87.13 18.79
2012-09-30 59.40 92.66 12.89
2012-06-30 59.25 94.50 22.27
  • F.G. Europe's level of debt (222.4%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (163.7% vs 222.4% today).
  • Debt is not well covered by operating cash flow (2.9%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 1.6x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess F.G. Europe'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. F.G. Europe has a total score of 2/6, 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 F.G. Europe'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 F.G. Europe dividends.
If you bought €2,000 of F.G. Europe 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 F.G. Europe's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate F.G. Europe'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:FGE 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 Retail Distributors Industry Average Dividend Yield Market Cap Weighted Average of 15 Stocks 3.4%
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 4.6%

Industry and Market average data is calculated daily.

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

ATSE:FGE Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
ATSE:FGE Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2015-11-30 0.000 0.000
2015-08-31 0.000 0.000
2015-05-28 0.000 0.000
2015-03-31 0.000 0.000
2014-03-31 0.200 23.075
2011-11-22 0.000 0.000
2011-07-29 0.000 0.000
2011-07-27 0.000 0.000
2011-05-20 0.000 0.000
2011-03-01 0.000 0.000
2011-01-17 0.000 0.000
2010-04-30 0.135 20.069
2010-04-15 0.150 15.378
2010-03-01 0.135 13.095
2010-01-15 0.135 12.706
2009-11-09 0.000 0.000

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

  • Unable to perform a dividend volatility check as F.G. Europe has not reported any payouts.
  • Unable to verify if F.G. Europe's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of F.G. Europe's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as F.G. Europe 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 F.G. Europe'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 F.G. Europe afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. F.G. Europe 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 F.G. Europe'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.
  • F.G. Europe has no CEO, or we have no data on them.
Management Team

George Feidakis

TITLE
Chairman of the Board
AGE
67

Michalis Poulis

TITLE
Chief Financial Officer

Athanasios Charmpis

TITLE
Chief Accounting Officer
AGE
54

Panagiotis Fragopoulos

TITLE
Technical Support Director
AGE
63

Evagelos Lianopoulos

TITLE
Alternate GM and IR & Shareholders Manager
AGE
66

Athanasios Feidakis

TITLE
General Sales Manager and Executive Director
AGE
44

Konstantinos Demenagas

TITLE
Executive Director

Antonios Kanavos

TITLE
Treasury Manager
TENURE
13.3 yrs

Athanasios Fiedakis

TITLE
GM & Executive Director
Board of Directors

George Feidakis

TITLE
Chairman of the Board
AGE
67

Spyros Lioukas

TITLE
Vice-Chairman of the Board
AGE
71

Athanasios Feidakis

TITLE
General Sales Manager and Executive Director
AGE
44

Konstantinos Demenagas

TITLE
Executive Director

Athanasios Fiedakis

TITLE
GM & Executive Director

Ioannis Katsoulakos

TITLE
Independent Non-Executive Director
AGE
65

Ioannis Pantousis

TITLE
Director
AGE
63
TENURE
10.8 yrs

Panagiotis Ekonomopoulos

TITLE
Non Executive Director

Nicolaos Pimplis

TITLE
Independent Non-Executive Director
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 F.G. Europe'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. F.G. Europe 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

Should F.G. Europe S.A. (ATH:FGE) Focus On Improving This Fundamental Metric?

With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. … One way to conceptualize this, is that for each €1 of shareholders' equity it has, the company made €0.014 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

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Some F.G. Europe (ATH:FGE) Shareholders Have Copped A Big 52% Share Price Drop

Europe is loss-making, we think the market is probably more focussed on revenue and revenue growth, at least for now. … Generally speaking, companies without profits are expected to grow revenue every year, and at a good clip. … We'd want to see proof that future revenue growth is likely to be significantly stronger before getting too interested in F.G.

Simply Wall St -

Should You Be Concerned About F.G. Europe S.A.'s (ATH:FGE) Historical Volatility?

Beta is a widely used metric to measure a stock's exposure to market risk (volatility). … A stock with a beta below one is either less volatile than the market, or more volatile but not corellated with the overall market. … In comparison a stock with a beta of over one tends to be move in a similar direction to the market in the long term, but with greater changes in price.

Simply Wall St -

What Does FG Europe SA's (ATH:FGE) Ownership Structure Look Like?

In this analysis, my focus will be on developing a perspective on FG Europe SA’s (ATH:FGE) latest ownership structure, a less discussed, but important factor. … A company's ownership structure is often linked to its share performance in both the long- and short-term. … ATSE:FGE Ownership Summary August 24th 18

Simply Wall St -

What does FG Europe SA's (ATH:FGE) Balance Sheet Tell Us About Its Future?

Investors are always looking for growth in small-cap stocks like FG Europe SA (ATH:FGE), with a market cap of €24.71m. … However, an important fact which most ignore is: how financially healthy is the business?

Simply Wall St -

Who Really Owns FG. Europe S.A. (ATH:FGE)?

Europe S.A.’s (ATSE:FGE) most recent ownership structure, not a frequent subject of discussion among individual investors. … With this size of ownership, retail investors can collectively play a role in major company policies that affect shareholders returns, including executive remuneration and the appointment of directors. … As a result, potential investors should further explore the company's business relations with these companies and find out if they can affect shareholder returns in the long-term.Next Steps: The company's high institutional ownership makes margin of safety a very important consideration to existing investors since long bull and bear trends often emerge when these big-ticket investors see a change in long-term potential of the company.

Simply Wall St -

FG. Europe S.A. (ATH:FGE): Does The Earnings Decline Make It An Underperformer?

Europe S.A.'s (ATSE:FGE) latest earnings update (30 June 2017), I found it helpful to revisit the company's performance in the past couple of years and compare this against the latest numbers. … To account for any quarterly or half-yearly updates, I use the ‘latest twelve-month’ data, 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. … Typically companies that face an extended period of reduction in earnings are going through some sort of reinvestment phase in order to keep up with the latest industry growth and disruption.

Simply Wall St -

Is There Now An Opportunity In FG. Europe S.A. (ATH:FGE)?

According to my valuation, the intrinsic value for the stock is €1.32, but it is currently trading at €0.63 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. … Europe, you can use our free platform to see my list of over 50 other stocks with a high growth potential.

Simply Wall St -

What You Must Know About FG. Europe S.A.'s (ATH:FGE) Return on Equity

Europe Breaking down ROE — the mother of all ratios Firstly, Return on Equity, or ROE, is simply the percentage of last years’ earning against the book value of shareholders’ equity. … Return on Equity = Net Profit ÷ Shareholders Equity ROE is assessed against cost of equity, which is measured using the Capital Asset Pricing Model (CAPM) – but let’s not dive into the details of that today. … This is called the Dupont Formula: Dupont Formula ROE = profit margin × asset turnover × financial leverage ROE = (annual net profit ÷ sales) × (sales ÷ assets) × (assets ÷ shareholders’ equity) ROE = annual net profit ÷ shareholders’ equity ATSE:FGE Last Perf Apr 4th 18 Essentially, profit margin shows how much money the company makes after paying for all its expenses.

Simply Wall St -

Is FG. Europe S.A.'s (ATH:FGE) Balance Sheet A Threat To Its Future?

How does FGE’s operating cash flow stack up against its debt? … With this debt repayment, FGE's cash and short-term investments stands at €9.92M for investing into the business. … For FGE, the ratio of 1.35x suggests that interest is not strongly covered, which means that debtors may be less inclined to loan the company more money, reducing its headroom for growth through debt.Next Steps: FGE’s cash flow coverage indicates it could improve its operating efficiency in order to meet demand for debt repayments should unforeseen events arise.

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Company Info

Description

F.G. Europe S.A. engages in the import and trading of consumer durable goods in Europe. It offers electrical appliances, including air conditioners for domestic and professional use, as well as technical support and services for air conditioners; and white electrical and electronic appliances, such as refrigerators, cookers, freezers, washing machines, dish washers, and build in appliances. The company also provides brown goods that include audio and video products comprising LCD TVs, audio systems, DVD/DVDR, and other appliances; and small appliances consisting of vacuum cleaners, press irones, microwave ovens, cooker hoods, etc. In addition, it engages in the operation of wind energy and hydroelectric power plants. The company distributes its products through distributors in Greece; and exports its products primarily to Italy, Albania, Serbia, Montenegro, Bosnia Herzegovina, FYROM, Bulgaria, Romania, and Turkey. F.G. Europe S.A. was founded in 1958 and is based in Athens, Greece.

Details
Name: F.G. Europe S.A.
FGE
Exchange: ATSE
Founded: 1958
€30,096,087
52,800,154
Website: http://www.fgeurope.gr
Address: F.G. Europe S.A.
128, Vouliagmenis Avenue,
Glyfada,
Athens,
166 74,
Greece
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ATSE FGE Ordinary Registered Shares The Athens Stock Exchange GR EUR 19. Jun 2003
LSE 0ED1 Ordinary Registered Shares London Stock Exchange GB EUR 19. Jun 2003
Number of employees
Current staff
Staff numbers
0
F.G. Europe employees.
Industry
Distributors
Retail
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/25 20:54
End of day share price update: 2019/04/25 00:00
Last estimates confirmation: 2018/04/30
Last earnings filing: 2019/03/26
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.