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Aquafil

BIT:ECNL
Snowflake Description

Proven track record with adequate balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
ECNL
BIT
€517M
Market Cap
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Last updated 2019/03/19 22:24
Company description

Aquafil S.p.A. produces and sells polyamide 6 fibers and polymers in Italy and internationally. The last earnings update was 5 days ago. More info.

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ECNL Share Price and Events
7 Day Returns
12.2%
BIT:ECNL
-41.3%
IT Luxury
-41.4%
IT Market
1 Year Returns
-16.5%
BIT:ECNL
-38.7%
IT Luxury
-44.5%
IT Market
ECNL Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Aquafil (ECNL) 12.2% 6.9% 11.4% -16.5% - -
IT Luxury -41.3% -40.4% -32.9% -38.7% -20.8% -11.6%
IT Market -41.4% -40.4% -35.2% -44.5% -36.4% -39.9%
1 Year Return vs Industry and Market
  • ECNL outperformed the Luxury industry which returned -38.7% over the past year.
  • ECNL outperformed the Market in Italy which returned -44.5% over the past year.
Price Volatility
Industry
5yr Volatility vs Market

ECNL Value

 Is Aquafil 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 Aquafil 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    Our intrinsic value calculation method has changed recently, learn more here.

Below are the data sources, inputs and calculation used to determine the intrinsic value for Aquafil.

BIT:ECNL Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 2 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 11.7%
Perpetual Growth Rate 10-Year IT Government Bond Rate 2.9%

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 BIT:ECNL
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year IT Govt Bond Rate 2.9%
Equity Risk Premium S&P Global 9%
Luxury Unlevered Beta Simply Wall St/ S&P Global 0.69
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.686 (1 + (1- 24%) (51%)) 		0.968
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)		 0.97
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.93% + (0.968 * 9.02%) 		11.66%

Discounted Cash Flow Calculation for BIT:ECNL using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Aquafil 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.

BIT:ECNL DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 11.66%)
2019 39.00 Analyst x1 34.93
2020 46.50 Analyst x2 37.29
2021 56.00 Analyst x1 40.22
2022 63.76 Est @ 13.86% 41.01
2023 70.51 Est @ 10.59% 40.62
2024 76.36 Est @ 8.29% 39.39
2025 81.46 Est @ 6.68% 37.63
2026 85.99 Est @ 5.56% 35.57
2027 90.09 Est @ 4.77% 33.38
2028 93.89 Est @ 4.22% 31.15
Present value of next 10 years cash flows €371.19
BIT:ECNL DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €93.89 × (1 + 2.93%) ÷ (11.66% – 2.93%) 		€1,107.02
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €1,107.02 ÷ (1 + 11.66%)10 		€367.28
BIT:ECNL Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €371.19 + €367.28 		€738.47
Equity Value per Share
(EUR)		 = Total value / Shares Outstanding
= €738.47 / 51.14 		€14.44
BIT:ECNL Discount to Share Price
Calculation Result
Value per share (EUR) From above. €14.44
Current discount Discount to share price of €9.94
= -1 x (€9.94 - €14.44) / €14.44 		31.2%

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

Current Discount
Amount off the current price Aquafil is available for.
Intrinsic value
31%
Share price is €9.94 vs Future cash flow value of €14.44
Current Discount Checks
For Aquafil to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Aquafil's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Aquafil's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Aquafil's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Aquafil's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BIT:ECNL PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in EUR €0.59
BIT:ECNL Share Price ** BIT (2019-03-19) in EUR €9.94
Italy Luxury Industry PE Ratio Median Figure of 15 Publicly-Listed Luxury Companies 14.85x
Italy Market PE Ratio Median Figure of 239 Publicly-Listed Companies 11.55x

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

** Primary Listing of Aquafil.

BIT:ECNL PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= BIT:ECNL Share Price ÷ EPS (both in EUR)

= 9.94 ÷ 0.59

 16.85x

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

  • Aquafil is overvalued based on earnings compared to the IT Luxury industry average.
  • Aquafil is overvalued based on earnings compared to the Italy market.
Price based on expected Growth
Does Aquafil's expected growth come at a high price?
Raw Data
BIT:ECNL PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 16.85x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts		 9.4%per year
Italy Luxury Industry PEG Ratio Median Figure of 9 Publicly-Listed Luxury Companies 2.02x
Italy Market PEG Ratio Median Figure of 159 Publicly-Listed Companies 0.87x

*Line of best fit is calculated by linear regression .

BIT:ECNL PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 16.85x ÷ 9.4%

 1.79x

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

  • Aquafil is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Aquafil's assets?
Raw Data
BIT:ECNL PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in EUR €2.77
BIT:ECNL Share Price * BIT (2019-03-19) in EUR €9.94
Italy Luxury Industry PB Ratio Median Figure of 21 Publicly-Listed Luxury Companies 1.72x
Italy Market PB Ratio Median Figure of 312 Publicly-Listed Companies 1.1x
BIT:ECNL PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= BIT:ECNL Share Price ÷ Book Value per Share (both in EUR)

= 9.94 ÷ 2.77

 3.58x

* Primary Listing of Aquafil.

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

  • Aquafil is overvalued based on assets compared to the IT Luxury industry average.
X
Value checks
We assess Aquafil'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 Luxury 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 Luxury industry average (and greater than 0)? (1 check)
    5. Aquafil has a total score of 1/6, 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.

ECNL Future Performance

 How is Aquafil expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
9.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Aquafil expected to grow at an attractive rate?
  • Aquafil's earnings growth is expected to exceed the low risk savings rate of 2.9%.
Growth vs Market Checks
  • Aquafil's earnings growth is positive but not above the Italy market average.
  • Aquafil's revenue growth is positive but not above the Italy market average.
Annual Growth Rates Comparison
Raw Data
BIT:ECNL Future Growth Rates Data Sources
Data Point Source Value (per year)
BIT:ECNL Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 9.4%
BIT:ECNL Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 2.7%
Italy Luxury Industry Earnings Growth Rate Market Cap Weighted Average 9%
Italy Luxury Industry Revenue Growth Rate Market Cap Weighted Average 6%
Italy Market Earnings Growth Rate Market Cap Weighted Average 10.7%
Italy Market Revenue Growth Rate Market Cap Weighted Average 3.7%

*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
BIT:ECNL Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
BIT:ECNL Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 605 79 38 1
2020-12-31 587 75 40 2
2019-12-31 571 70 34 1
BIT:ECNL Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-12-31 557 35 30
2018-09-30 577 47 32
2018-06-30 562 37 31
2018-03-31 552 65 27
2017-12-31 549 50 25
2017-09-30 518 29 22
2017-06-30 509 59 22
2017-03-31 501 23 23
2016-12-31 482 52 20

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Aquafil's earnings are expected to grow by 9.4% yearly, however this is not considered high growth (20% yearly).
  • Aquafil's revenue is expected to grow by 2.7% yearly, however this is not considered high growth (20% yearly).
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
BIT:ECNL Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from Aquafil Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BIT:ECNL Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 0.71 0.71 0.71 1.00
2020-12-31 0.74 0.80 0.67 2.00
2019-12-31 0.63 0.63 0.63 1.00
BIT:ECNL Past Financials Data
Date (Data in EUR Millions) EPS *
2018-12-31 0.59
2018-09-30 0.64
2018-06-30 0.65
2018-03-31
2017-12-31 0.55
2017-09-30 0.44
2017-06-30 0.41
2017-03-31
2016-12-31 0.44

*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.
  • Aquafil is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Aquafil'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 Italy market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Italy 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.
Aquafil has a total score of 1/6, 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.

ECNL Past Performance

  How has Aquafil 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 Aquafil's growth in the last year to its industry (Luxury).
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.
  • Aquafil's year on year earnings growth rate has been positive over the past 5 years.
  • Aquafil's 1-year earnings growth exceeds its 5-year average (19.8% vs 12.4%)
  • Aquafil's earnings growth has exceeded the IT Luxury industry average in the past year (19.8% vs 9.8%).
Earnings and Revenue History
Aquafil'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 Aquafil Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BIT:ECNL Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 556.96 30.10 200.44
2018-09-30 577.03 31.76 185.64
2018-06-30 561.79 31.34 184.13
2018-03-31 551.53 26.78 181.54
2017-12-31 549.33 25.12 182.06
2017-09-30 518.31 22.22 204.27
2017-06-30 509.00 22.40 214.83
2017-03-31 501.27 22.67 196.75
2016-12-31 482.00 20.02 173.66
2015-12-31 502.68 13.72 101.91
2014-12-31 510.02 9.04 90.94
2013-12-31 475.42 25.85 82.49

*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.
  • Whilst Aquafil has efficiently used shareholders’ funds last year (Return on Equity greater than 20%), this is metric is skewed due to its high level of debt.
  • Aquafil used its assets less efficiently than the IT Luxury industry average last year based on Return on Assets.
  • Aquafil has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
Show me more strong past performing companies in the Luxury industry
X
Past performance checks
We assess Aquafil'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 Luxury 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.
Aquafil has a total score of 4/6, 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.

ECNL Health

 How is Aquafil'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 Aquafil's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Aquafil is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Aquafil's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Aquafil'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 Aquafil Company Filings, last reported 2 months ago.

BIT:ECNL Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 143.81 263.44 106.16
2018-09-30 136.85 262.05 97.03
2018-06-30 133.38 240.62 93.66
2018-03-31 135.38 220.52 84.69
2017-12-31 125.50 212.08 100.01
2017-09-30
2017-06-30 76.47 247.51 84.86
2017-03-31 116.00 237.09 119.05
2016-12-31 116.00 237.09 119.05
2015-12-31 106.47 227.82 46.31
2014-12-31 92.07 242.48 54.05
2013-12-31 81.27 239.78 56.11
  • Aquafil's level of debt (183.2%) 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 (294.9% vs 183.2% today).
  • Debt is not well covered by operating cash flow (13.4%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 8.3x coverage).
Show me more healthy companies in the Luxury industry
X
Financial health checks
We assess Aquafil'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. Aquafil 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.

ECNL Dividends

 What is Aquafil'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
2.41%
Current annual income from Aquafil dividends. Estimated to be 2.73% next year.
If you bought €2,000 of Aquafil shares you are expected to receive €48 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?
  • Aquafil's pays a higher dividend yield than the bottom 25% of dividend payers in Italy (2.35%).
  • Aquafil's dividend is below the markets top 25% of dividend payers in Italy (7.45%).
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
BIT:ECNL Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
Italy Luxury Industry Average Dividend Yield Market Cap Weighted Average of 15 Stocks 2.6%
Italy Market Average Dividend Yield Market Cap Weighted Average of 176 Stocks 6.3%
Italy Minimum Threshold Dividend Yield 10th Percentile 1.5%
Italy Bottom 25% Dividend Yield 25th Percentile 2.3%
Italy Top 25% Dividend Yield 75th Percentile 7.4%

Industry and Market average data is calculated daily.

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

BIT:ECNL Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.24 1.00
2020-12-31 0.30 2.00
2019-12-31 0.24 1.00
BIT:ECNL Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-03-14 0.240 2.445
2018-03-27 0.240 2.194
2018-03-23 0.240 2.000

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

  • It is too early to tell whether Aquafil has stable dividend payments.
  • Aquafil only just started paying a dividend, it is too early to tell if payments are increasing.
Current Payout to shareholders
What portion of Aquafil's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.5x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3x coverage).
X
Income/ dividend checks
We assess Aquafil's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.5%) - 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 Aquafil afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
    7. Aquafil has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

ECNL Management

 What is the CEO of Aquafil'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
Giulio Bonazzi
COMPENSATION €1,453,163
AGE 55
CEO Bio

Mr. Giulio Bonazzi serves as the Chairman of the Board, Chief Executive Officer and President of Aquafil S.p.A. In 1987, Mr. Bonazzi started his career, working in the family business. After a year working in the commercial and technical divisions of Aquafil S.p.A., he attended a six-month training course at Horizon Carpet in the United States. In 1989 he became assistant production manager at the Arco plant, and a year later took over management of the division. Since 1991 he has also been a key figure at the Rovereto plant, where he implemented a restructuring program with the aim of rebalancing the accounts and boosting productivity. Early in 1992, he was given the task of restructuring Tessilbrenta, one of the family's businesses. He was also involved in the move to Slovenia, assisting with the acquisition of the Kranj factory. In 1994 he returned to Aquafil S.p.A., working on the acquisition of Julon d.d., an enterprise which was to become a fundamental asset for the Group. From 1995 to 1998 he held the office of General Manager at Julon, relocating with his family to Slovenia. In 1999 he returned to Italy as Vice Chairman of Aquafil S.p.A., before becoming Chairman of the group in 2008. At the end of 2011, he was elected as President of CIRFS, the European Association of the man-made fiber producers. Mr. Bonazzi graduated in Business Economics from the University of Venice.

CEO Compensation
  • Insufficient data for Giulio to compare compensation growth.
  • Giulio's remuneration is higher than average for companies of similar size in Italy.
Management Team

Giulio Bonazzi

TITLE
Chairman
COMPENSATION
€1M
AGE
55

Adriano Vivaldi

TITLE
CFO & Executive Director
COMPENSATION
€522K
AGE
56

Franco Rossi

TITLE
Executive Director
COMPENSATION
€409K
AGE
59

Giuseppe Cippa

TITLE
Vice Chairman of BFC Industrial Activities
COMPENSATION
€400K

Sergio Calliari

TITLE
Vice Chairperson of Finance Department & Executive Officer
COMPENSATION
€234K

Fabrizio Calenti

TITLE
GM & Executive Director
COMPENSATION
€506K
AGE
61

Bruno Torresani

TITLE
CEO & MD of Bcf Business Unit
AGE
77

Anacleto Moro

TITLE
Head of Energy & Recycling Business Unit
AGE
66
Board of Directors Tenure

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

1.7
Average Tenure
56
Average Age
  • The average tenure for the Aquafil board of directors is less than 3 years, this suggests a new board.
Board of Directors

Adriano Vivaldi

TITLE
CFO & Executive Director
COMPENSATION
€522K
AGE
56
TENURE
1.7 yrs

Franco Rossi

TITLE
Executive Director
COMPENSATION
€409K
AGE
59
TENURE
1.7 yrs

Fabrizio Calenti

TITLE
GM & Executive Director
COMPENSATION
€506K
AGE
61
TENURE
1.7 yrs

Francesco Profumo

TITLE
Independent Director
COMPENSATION
€5K
AGE
65
TENURE
1.7 yrs

Giulio Bonazzi

TITLE
Chairman
COMPENSATION
€1M
AGE
55

Simona Heidempergher

TITLE
Lead Independent Director
COMPENSATION
€5K
AGE
50

Stefano Longostrevi

TITLE
Chairman of Board of Statutory Auditors
COMPENSATION
€419K
AGE
53
TENURE
1.2 yrs

Silvana Bonazzi

TITLE
Non-Executive Director
COMPENSATION
€3K
AGE
25
TENURE
1.7 yrs

Carlo Pagliani

TITLE
Non-Executive Director
COMPENSATION
€4K
AGE
56
TENURE
1.7 yrs

Margherita Zambon

TITLE
Director
COMPENSATION
€15K
AGE
58
TENURE
1.7 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 Aquafil'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. Aquafil 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.

ECNL News

Simply Wall St News

Is Aquafil S.p.A. (BIT:ECNL) An Attractive Dividend Stock?

Dividends can be underrated but they form a large part of investment returns, playing an important role in compounding returns in the long run. … (BIT:ECNL) has begun paying dividends recently. … Participate in a short research study and receive a 6-month subscription to the award winning Simply Wall St research tool (valued at $60)

Simply Wall St - –

Do Institutions Own Aquafil S.p.A. (BIT:ECNL) Shares?

Large companies usually have institutions as shareholders, and we usually see insiders owning shares in smaller companies. … With a market capitalization of €483m, Aquafil is a small cap stock, so it might not be well known by many institutional investors. … institutions own shares in the company.

Simply Wall St - –

Is Aquafil SpA (BIT:ECNL) A Smart Choice For Dividend Investors?

Dividends can be underrated but they form a large part of investment returns, playing an important role in compounding returns in the long run. … How I analyze a dividend stock … Whenever I am looking at a potential dividend stock investment, I always check these five metrics:

Simply Wall St - –

When Can We Expect A Profit From Space3 Sp.A. (BIT:ECNL)?

I’ve put together a brief outline of industry analyst expectations for ECNL, its year of breakeven and its implied growth rate. … BIT:ECNL Past Future Earnings Mar 9th 18 Underlying developments driving ECNL’s growth isn’t the focus of this broad overview, though, bear in mind that generally a high growth rate is not out of the ordinary, particularly when a company is in a period of investment. … ECNL currently has no debt on its balance sheet, which is quite unusual for a cash-burning loss-making, growth company, which usually has a high level of debt relative to its equity.

Simply Wall St - –

ECNL Company Info

Description

Aquafil S.p.A. produces and sells polyamide 6 fibers and polymers in Italy and internationally. It offers bulk continuous filament fibers for the textile flooring sector and used in hotels, airports, offices, residential buildings, and the automotive market; nylon textile fibers for sportswear, classic, and technical or specialist apparel; and nylon 6 polymers primarily for engineering plastics sector and molding industry. The company also designs and constructs chemical plants. Aquafil S.p.A. markets its products under the Dryarn and ECONYL brands. The company was founded in 1969 and is headquartered in Arco, Italy.

Details
Name: Aquafil S.p.A.
ECNL
Exchange: BIT
Founded: 1969
€516,501,819
51,138,794
Website: http://www.aquafil.com
Address: Aquafil S.p.A.
via Linfano, 9,
Arco,
Trento, 38062,
Italy
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BIT ECNL Ordinary Shares Borsa Italiana IT EUR 05. Dec 2017
LSE 0ROH Ordinary Shares London Stock Exchange GB EUR 05. Dec 2017
BATS-CHIXE ECNLM Ordinary Shares BATS 'Chi-X Europe' GB EUR 05. Dec 2017
Number of employees
Current staff
Staff numbers
2,700
Aquafil employees.
Industry
Textiles
Consumer Durables
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/19 22:24
End of day share price update: 2019/03/19 00:00
Last estimates confirmation: 2019/03/19
Last earnings filing: 2019/03/14
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.

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