OB:HAVI

Stock Analysis Report

Havila Shipping

Executive Summary

Havila Shipping ASA, together with its subsidiaries, engages in the shipping business.

Snowflake

Fundamentals

Worrying balance sheet with weak fundamentals.


Similar Companies

Share Price & News

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


Latest Share Price and Events

Stable Share Price: HAVI has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

2.8%

HAVI

0.2%

NO Energy Services

-0.3%

NO Market


1 Year Return

-30.0%

HAVI

-22.4%

NO Energy Services

-3.2%

NO Market

Return vs Industry: HAVI exceeded the Norwegian Energy Services industry which returned -22.4% over the past year.

Return vs Market: HAVI underperformed the Norwegian Market which returned -3.2% over the past year.


Shareholder returns

HAVIIndustryMarket
7 Day2.8%0.2%-0.3%
30 Day1.2%3.7%3.1%
90 Day-6.0%16.2%10.0%
1 Year-30.0%-30.0%-20.9%-22.4%2.0%-3.2%
3 Year-96.3%-96.3%8.8%0.6%41.8%24.1%
5 Year-99.9%-99.9%-28.7%-51.5%56.8%20.9%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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


Share Price vs. Fair Value

Below Fair Value: HAVI (NOK3.29) is trading above our estimate of fair value (NOK0.9)

Significantly Below Fair Value: HAVI is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: HAVI is unprofitable, so we can't compare its PE Ratio to the Energy Services industry average.

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


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: HAVI has negative assets, so we can't compare its PB Ratio to the NO Energy Services industry average.


Next Steps

Future Growth

How is Havila Shipping forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

43.3%

Forecasted Energy industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Havila Shipping has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has Havila Shipping performed over the past 5 years?

-3.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: HAVI has large one-off items impacting its financial results.

Growing Profit Margin: HAVI's current net profit margins (-165.4%) are lower than last year (138.8%).


Past Earnings Growth Analysis

Earnings Trend: HAVI is unprofitable, and losses have increased over the past 5 years at a rate of -3.2% per year.

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

Earnings vs Industry: HAVI is unprofitable, making it difficult to compare its past year earnings growth to the Energy Services industry (14%).


Return on Equity

High ROE: HAVI's liabilities exceed its assets, so it is difficult to calculate its Return on Equity.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Havila Shipping's financial position?


Financial Position Analysis

Short Term Liabilities: HAVI has negative shareholder equity, which is a more serious situation than short term assets not covering short term liabilities.

Long Term Liabilities: HAVI has negative shareholder equity, which is a more serious situation than short term assets not covering long term liabilities.


Debt to Equity History and Analysis

Debt Level: HAVI has negative shareholder equity, which is a more serious situation than a high debt level.

Reducing Debt: HAVI's has negative shareholder equity, so we do not need to check if its debt has reduced over time.


Balance Sheet

Inventory Level: HAVI has a high level of physical assets or inventory.

Debt Coverage by Assets: HAVI has negative shareholder equity (liabilities exceed assets) therefore debt is not covered by short term assets.


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: HAVI has sufficient cash runway for more than 3 years based on its current free cash flow.

Forecast Cash Runway: Insufficient data to determine if HAVI has enough cash runway if its free cash flow continues to grow or shrink based on historical rates.


Next Steps

Dividend

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


Dividend Yield vs Market

company0%marketbottom25%2.5%markettop25%6.1%industryaverage4.4%forecastin3Yearsn/a

Current dividend yield vs market & industry

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

High Dividend: Unable to evaluate HAVI'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 HAVI's dividends per share have been stable in the past.

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


Current Payout to Shareholders

Dividend Coverage: HAVI is not paying a notable dividend for the Norwegian market.


Future Payout to Shareholders

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


Next Steps

Management

What is the CEO of Havila Shipping's salary, the management and board of directors tenure and is there insider trading?

11.3yrs

Average management tenure


CEO

Njål Sævik (50yo)

16.8yrs

Tenure

kr1,472,000

Compensation

Mr. Njål Sævik has been the Chief Executive Officer at Havila Shipping ASA since 2003 and serves as its Managing Director. Mr. Sævik is a Director of Axxis Geo Solutions AS. Mr. Sævik has been with offshor ...


Management Age and Tenure

11.3yrs

Average Tenure

Experienced Management: HAVI's management team is seasoned and experienced (11.3 years average tenure).


Board Age and Tenure

3.5yrs

Average Tenure

57yo

Average Age

Experienced Board: HAVI's board of directors are considered experienced (3.5 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 22%.


Management Team

  • Arne Dale

    Chief Financial Officer

    • Tenure: 11.3yrs
  • Njål Sævik (50yo)

    CEO, MD & Administration Director

    • Tenure: 16.8yrs
    • Compensation: kr1.47m
  • Runar Smadal

    Human Resource Director

    • Tenure: 0yrs
  • Olav Vikebakk

    Deputy Managing Director

    • Tenure: 1.3yrs

Board Members

  • Jostein Sætrenes (55yo)

    Chairman

    • Tenure: 2.5yrs
  • Jogeir Romestrand (58yo)

    Director

    • Tenure: 2.5yrs
  • Helge Aarseth (72yo)

    Deputy Chairman

    • Tenure: 0yrs
  • Hege Rabben (48yo)

    Director

    • Tenure: 16.8yrs
  • Nina Skage (57yo)

    Director

    • Tenure: 4.6yrs

Company Information

Havila Shipping ASA's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Havila Shipping ASA
  • Ticker: HAVI
  • Exchange: OB
  • Founded: 2003
  • Industry: Oil and Gas Equipment and Services
  • Sector: Energy
  • Market Cap: kr78.224m
  • Shares outstanding: 23.78m
  • Website: https://www.havilashipping.no

Number of Employees


Location

  • Havila Shipping ASA
  • Mjølstadnesvegen 24
  • Fosnavåg
  • Møre og Romsdal
  • 6092
  • Norway

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
HAVIOB (Oslo Bors)YesOrdinary SharesNONOKMar 2005
0LGILSE (London Stock Exchange)YesOrdinary SharesGBNOKMar 2005
HAVIOBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBNOKMar 2005

Biography

Havila Shipping ASA, together with its subsidiaries, engages in the shipping business. It manages and operates offshore service vessels primarily in the Norwegian, British, and Danish sectors of the North  ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/11/13 20:41
End of Day Share Price2019/11/13 00:00
Earnings2019/06/30
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.