ATSE:PPA

Stock Analysis Report

Piraeus Port Authority

Executive Summary

Piraeus Port Authority S.A. provides port services at the port of Piraeus, Greece.

Snowflake

Fundamentals

Excellent balance sheet with solid track record.

Risks

  • Piraeus Port Authority's last earnings update was 192 days ago.
  • Piraeus Port Authority is covered by less than 3 analysts.

Share Price & News

How has Piraeus Port Authority's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

6.8%

ATSE:PPA

-0.4%

GR Infrastructure

4.6%

GR Market


1 Year Return

43.9%

ATSE:PPA

3.7%

GR Infrastructure

8.2%

GR Market

PPA outperformed the Infrastructure industry which returned 3.7% over the past year.

PPA outperformed the Market in Greece which returned 8.2% over the past year.


Share holder returns

PPAIndustryMarket
7 Day6.8%-0.4%4.6%
30 Day-2.1%-3.9%-6.1%
90 Day3.7%-0.3%7.1%
1 Year46.5%43.9%7.2%3.7%11.6%8.2%
3 Year90.6%84.4%40.5%27.6%56.5%42.5%
5 Year47.2%40.1%65.6%39.8%-80.2%-80.8%

Price Volatility Vs. Market

How volatile is Piraeus Port Authority's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Piraeus Port Authority undervalued based on future cash flows and its price relative to the stock market?

21.16x

Price to Earnings (PE) ratio


Intrinsic Value Based on Future Cash Flows

Piraeus Port Authority's share price is above the future cash flow value, it's not available at a moderate discount (< 20%).

Piraeus Port Authority's share price is above the future cash flow value, it's not available at a substantial discount (< 40%).


Price Based on Earnings

Piraeus Port Authority is overvalued based on earnings compared to the Europe Infrastructure industry average.

Piraeus Port Authority is overvalued based on earnings compared to the Greece market.


Price Based on Expected Growth

Piraeus Port Authority is poor value based on expected growth next year.


Price Based on Value of Assets

Piraeus Port Authority is overvalued based on assets compared to the Europe Infrastructure industry average.


Next Steps

Future Growth

How is Piraeus Port Authority expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

18.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Piraeus Port Authority's revenue is expected to grow by 4.4% yearly, however this is not considered high growth (20% yearly).

Piraeus Port Authority's earnings are expected to grow by 18.9% yearly, however this is not considered high growth (20% yearly).

Piraeus Port Authority's revenue growth is expected to exceed the Greece market average.

Piraeus Port Authority's earnings growth is expected to exceed the Greece market average.

Piraeus Port Authority's earnings growth is expected to exceed the low risk savings rate of 4.9%.


Earnings per Share Growth Estimates


Future Return on Equity

Piraeus Port Authority is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).


Next Steps

Past Performance

How has Piraeus Port Authority performed over the past 5 years?

25.4%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Piraeus Port Authority has delivered over 20% year on year earnings growth in the past 5 years.

Piraeus Port Authority's 1-year earnings growth exceeds its 5-year average (147% vs 25.4%)

Piraeus Port Authority's earnings growth has exceeded the Europe Infrastructure industry average in the past year (147% vs 6.8%).


Return on Equity

Piraeus Port Authority has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

Piraeus Port Authority used its assets more efficiently than the Europe Infrastructure industry average last year based on Return on Assets.


Return on Capital Employed

Piraeus Port Authority has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).


Next Steps

Financial Health

How is Piraeus Port Authority's financial position?


Financial Position Analysis

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

Piraeus Port Authority's long term commitments exceed its cash and other short term assets.


Debt to Equity History and Analysis

Piraeus Port Authority's level of debt (29.9%) compared to net worth is satisfactory (less than 40%).

The level of debt compared to net worth has been reduced over the past 5 years (53.5% vs 29.9% today).

Debt is well covered by operating cash flow (88.8%, greater than 20% of total debt).

Interest payments on debt are well covered by earnings (EBIT is 263.1x coverage).


Balance Sheet

High level of physical assets or inventory.

Debt is covered by short term assets, assets are 1.6x debt.


Next Steps

Dividend

What is Piraeus Port Authority's current dividend yield, its reliability and sustainability?

2.19%

Expected Dividend Yield


Dividend Yield and Payments Analysis

Piraeus Port Authority's pays a lower dividend yield than the bottom 25% of dividend payers in Greece (1.83%).

Piraeus Port Authority's dividend is below the markets top 25% of dividend payers in Greece (4.02%).

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 (2.6x coverage).


Future Payout to Shareholders

Dividends after 3 years are expected to be well covered by earnings (2.7x coverage).


Next Steps

Management

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

3.0yrs

Average management tenure


CEO

Chengqiu Fu 0

3.0yrs

Tenure

0

Mr. Chengqiu Fu has been the Chief Executive Officer and Executive Director at Piraeus Port Authority SA since August 10, 2016 and serves as its Managing Director and also served as its Chairman since Janu ...


Management Age and Tenure

3.0yrs

Average Tenure

The tenure for the Piraeus Port Authority management team is about average.


Board Age and Tenure

3.0yrs

Average Tenure

56yo

Average Age

The tenure for the Piraeus Port Authority board of directors is about average.


Insider Trading

No 3 month open market individual insider trading information.


Ownership Breakdown


Management Team

  • Athanasios Liagkos

    Senior Consultant & Non-Executive Director

    • Tenure: 0.0yrs
  • Chengqiu Fu

    CEO & MD

    • Tenure: 3.0yrs
  • Xiaoli Deng

    Deputy Chief Executive Officer

    • Tenure: 3.0yrs
  • Jianchun Li

    Deputy Chief Executive Officer

    • Tenure: 3.0yrs
  • Angelos Karakostas

    Deputy Chief Executive Officer

    • Tenure: 3.0yrs

Board Members

  • Gordon Kwong (70yo)

    Independent Non-Executive Director

    • Tenure: 3.0yrs
  • Eric Ip (66yo)

    Independent Non-Executive Director

    • Tenure: 3.0yrs
  • Weilong Ye (56yo)

    Non-Executive Director

    • Tenure: 3.0yrs
  • Zenggang Yu (56yo)

    Chairman of the Board of Directors

    • Tenure: 0.1yrs
  • Athanasios Liagkos

    Senior Consultant & Non-Executive Director

    • Tenure: 0.0yrs
  • Loannis Moralis

    Non Executive Director

    • Tenure: 4.8yrs
  • Boming Feng (50yo)

    Non-Executive Director

    • Tenure: 3.0yrs
  • Jianhui Zhu (56yo)

    Non-Executive Director

    • Tenure: 3.0yrs
  • Chengqiu Fu

    CEO & MD

    • Tenure: 3.0yrs
  • Nikolaos Arvanitis

    Independent Non-Executive Director

    • Tenure: 3.0yrs

Company Information

Piraeus Port Authority S.A.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Piraeus Port Authority S.A.
  • Ticker: PPA
  • Exchange: ATSE
  • Founded: 1930
  • Industry: Marine Ports and Services
  • Sector: Transportation
  • Market Cap: €590.000m
  • Shares outstanding: 25.00m
  • Website: https://www.olp.gr

Number of Employees


Location

  • Piraeus Port Authority S.A.
  • 10 Akti Miaouli Street
  • Piraeus
  • Greece

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PZEBST (Boerse-Stuttgart)YesOrdinary SharesDEEURAug 2003
PPAATSE (The Athens Stock Exchange)YesOrdinary SharesGREURAug 2003
0FHOLSE (London Stock Exchange)YesOrdinary SharesGBEURAug 2003

Biography

Piraeus Port Authority S.A. provides port services at the port of Piraeus, Greece. It operates through Container Terminal, Handling Car, Coasting, Cruise, Ship Repairing, and Other segments. The company of ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/08/25 20:52
End of Day Share Price2019/08/23 00:00
Earnings2018/12/31
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.