BDL:BRTOR

Stock Analysis Report

Executive Summary

Brait SE, an investment holding company, focuses on its investment portfolio of sizeable unlisted businesses operating in the consumer sector.


Snowflake Analysis

Overvalued with worrying balance sheet.


Similar Companies

Share Price & News

How has Brait's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: BRTOR's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-15.2%

BRTOR

-5.8%

LU Capital Markets

1.9%

LU Market


1 Year Return

-75.6%

BRTOR

11.0%

LU Capital Markets

-16.8%

LU Market

Return vs Industry: BRTOR underperformed the Luxembourg Capital Markets industry which returned 11% over the past year.

Return vs Market: BRTOR underperformed the Luxembourg Market which returned -16.8% over the past year.


Shareholder returns

BRTORIndustryMarket
7 Day-15.2%-5.8%1.9%
30 Day-48.6%-2.2%-7.0%
90 Day-53.7%2.5%-4.7%
1 Year-75.6%-75.6%15.3%11.0%-13.8%-16.8%
3 Year-92.1%-92.2%10.7%-2.3%-19.4%-27.8%
5 Year-92.9%-93.1%2.8%-16.3%-39.1%-49.1%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

Is Brait undervalued compared to its fair value and its price relative to the market?

0.18x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate BRTOR's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate BRTOR's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: BRTOR is unprofitable, so we can't compare its PE Ratio to the Capital Markets industry average.

PE vs Market: BRTOR is unprofitable, so we can't compare its PE Ratio to the Luxembourg market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate BRTOR's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: BRTOR is good value based on its PB Ratio (0.2x) compared to the XE Capital Markets industry average (1.3x).


Next Steps

Future Growth

How is Brait forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

145.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: BRTOR is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: BRTOR is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: BRTOR is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: Insufficient data to determine if BRTOR's revenue is forecast to grow faster than the Luxembourg market.

High Growth Revenue: Insufficient data to determine if BRTOR's revenue is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if BRTOR's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Brait performed over the past 5 years?

-56.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: BRTOR is currently unprofitable.

Growing Profit Margin: BRTOR is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: BRTOR is unprofitable, and losses have increased over the past 5 years at a rate of -56% per year.

Accelerating Growth: Unable to compare BRTOR's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: BRTOR is unprofitable, making it difficult to compare its past year earnings growth to the Capital Markets industry (5.7%).


Return on Equity

High ROE: BRTOR has a negative Return on Equity (-53.59%), as it is currently unprofitable.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Brait's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: BRTOR has a low level of unsold assets or inventory.

Debt Coverage by Assets: BRTOR's debt is not covered by short term assets (assets are 0.1x debt).


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.

Stable Cash Runway: BRTOR has been profitable on average in the past, therefore cash runway is not a concern.

Forecast Cash Runway: BRTOR has been profitable on average in the past, therefore cash runway is not a concern.


Financial Institutions Analysis

Asset Level: BRTOR's level of assets compared to its equity is low.

Allowance for Bad Loans: Insufficient data to determine if BRTOR has a sufficient allowance for bad loans.

Low Risk Liabilities: BRTOR reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if BRTOR has an acceptable proportion of non-loan assets held.

Low Risk Deposits: BRTOR has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: Insufficient data to determine if BRTOR has an appropriate level of bad loans.


Next Steps

Dividend

What is Brait's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

company0%marketbottom25%2.7%markettop25%7.1%industryaverage3.3%forecastin3Years0%

Current dividend yield vs market & industry

Notable Dividend: Unable to evaluate BRTOR's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate BRTOR's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if BRTOR's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if BRTOR's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: BRTOR is not paying a notable dividend for the Luxembourg market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of BRTOR's dividend in 3 years as they are not forecast to pay a notable one for the Luxembourg market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

7.8yrs

Average board tenure


CEO

Brait has no CEO, or we have no data on them.


Board Members

NamePositionTenureCompensationOwnership
John Botts
Independent Non-Executive Director4.1yrs€93.00kno data
Christopher Seabrooke
Independent Non-Executive Director10.7yrs€132.00kno data
Christoffel F. Wiese
Non-Executive Director8.8yrs€149.00k1.9% 10.4m
Hermanus Roelof Troskie
Independent Non-Executive Director14.6yrs€83.00k0.0038% 20.7k
Alan Jacobs
Independent Non-Executive Director5yrs€83.00kno data
Phillip Moleketi
Independent Non-Executive Chairman10.4yrs€176.00k0.011% 58.9k
Lawrence Porter
Independent Non-Executive Director6.8yrs€41.00kno data
Paul Roelofse
Alternate Director0.3yrsno datano data

7.8yrs

Average Tenure

66yo

Average Age

Experienced Board: BRTOR's board of directors are considered experienced (7.8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: BRTOR insiders have only sold shares in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Brait SE's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Brait SE
  • Ticker: BRTOR
  • Exchange: BDL
  • Founded: 2011
  • Industry: Asset Management and Custody Banks
  • Sector: Diversified Financials
  • Market Cap: R9.042b
  • Listing Market Cap: R546.444m
  • Shares outstanding: 1.32b
  • Website: https://www.brait.com

Number of Employees


Location

  • Brait SE
  • Avantech Building
  • 4th Floor
  • San Gwann
  • 2805
  • Malta

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BRTORBDL (Bourse de Luxembourg)YesOrdinary SharesLUEURJan 1992
BATJSE (The Johannesburg Securities Exchange)YesOrdinary SharesZAZARJan 1992

Biography

Brait SE, an investment holding company, focuses on its investment portfolio of sizeable unlisted businesses operating in the consumer sector. The company’s primary investment portfolio includes Virgin Active, Premier, Iceland Foods, and New Look. The company’s New Look business offers apparel, footwear, and accessories for women, men, and teenage girls. It also operates 238 health clubs under Virgin Active in South Africa, the United Kingdom, Italy, Australia, Namibia, Botswana, Thailand, and Singapore. In addition, the company operates Premier, which produces fast moving consumer goods, including wheat flour, maize meal, bread, feminine hygiene products, sugar confectionery, animal feeds, and other food products in South Africa, Eswatini, Lesotho, and Mozambique. Further, the company produces and exports wine, spirits, and craft beer through DGB in South Africa; and manufactures and supplies glass packaging products to the beverage and food companies through Consol in South Africa, Nigeria, and Kenya. Additionally, it offers frozen food, such as milk, eggs, ready meals, pizza, party food, meat, fish, poultry, vegetables, and grocery in Iceland, Ireland, Czech Republic, Spain, Portugal, the Channel Islands, the Isle of Man, Malta, and Norway. As of September 13, 2019, the company operated 960 food retail stores under the Iceland brand name in the United Kingdom, as well as distributes its products through Internet. Brait SE was incorporated in 2011 and is based in San Gwann, Malta. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/25 21:11
End of Day Share Price2020/02/25 00:00
Earnings2019/09/30
Annual Earnings2019/03/31


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.