OB:BALT-ME

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Baltic Sea Properties

Executive Summary

Baltic Sea Properties AS, together with its subsidiaries, engages in the commercial real estate business in the Baltics.


Snowflake Analysis

Mediocre balance sheet not a dividend payer.

Share Price & News

How has Baltic Sea Properties's share price performed over time and what events caused price changes?


Latest Share Price and Events

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


Market Performance


7 Day Return

0%

BALT-ME

-0.4%

NO Real Estate

-1.4%

NO Market


1 Year Return

-11.2%

BALT-ME

-1.8%

NO Real Estate

-18.1%

NO Market

Return vs Industry: BALT-ME underperformed the Norwegian Real Estate industry which returned -1.9% over the past year.

Return vs Market: BALT-ME exceeded the Norwegian Market which returned -17.9% over the past year.


Shareholder returns

BALT-MEIndustryMarket
7 Day0%-0.4%-1.4%
30 Day-5.6%-1.7%-4.7%
90 Day9.4%13.2%6.6%
1 Year-11.2%-11.2%1.8%-1.8%-15.6%-18.1%
3 Yearn/a21.9%11.7%-3.8%-0.3%
5 Yearn/a62.7%36.9%29.4%3.0%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is Baltic Sea Properties undervalued compared to its fair value and its price relative to the market?

1.11x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: BALT-ME (NOK30.2) is trading above our estimate of fair value (NOK5.03)

Significantly Below Fair Value: BALT-ME is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: BALT-ME is unprofitable, so we can't compare its PE Ratio to the NO Real Estate industry average.

PE vs Market: BALT-ME 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 BALT-ME's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: BALT-ME is overvalued based on its PB Ratio (1.1x) compared to the NO Real Estate industry average (0.9x).


Next Steps

Future Growth

How is Baltic Sea Properties forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

0.5%

Forecasted Real Estate 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 Baltic Sea Properties 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 Baltic Sea Properties performed over the past 5 years?

-61.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: BALT-ME is currently unprofitable.

Growing Profit Margin: BALT-ME is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: BALT-ME is unprofitable, and losses have increased over the past 5 years at a rate of -61.8% per year.

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

Earnings vs Industry: BALT-ME is unprofitable, making it difficult to compare its past year earnings growth to the Real Estate industry (12.7%).


Return on Equity

High ROE: BALT-ME has a negative Return on Equity (-22.45%), as it is currently unprofitable.


Next Steps

Financial Health

How is Baltic Sea Properties's financial position?


Financial Position Analysis

Short Term Liabilities: BALT-ME's short term assets (NOK97.9M) do not cover its short term liabilities (NOK277.0M).

Long Term Liabilities: BALT-ME's short term assets (NOK97.9M) do not cover its long term liabilities (NOK208.9M).


Debt to Equity History and Analysis

Debt Level: BALT-ME's debt to equity ratio (206.4%) is considered high.

Reducing Debt: BALT-ME's debt to equity ratio has reduced from 298.9% to 206.4% over the past 5 years.


Balance Sheet


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: BALT-ME has sufficient cash runway for more than a year based on its current free cash flow.

Forecast Cash Runway: BALT-ME has sufficient cash runway for 1.4 years if free cash flow continues to reduce at historical rates of 43.3% each year.


Next Steps

Dividend

What is Baltic Sea Properties's current dividend yield, its reliability and sustainability?

3.31%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: BALT-ME's dividend (3.31%) is higher than the bottom 25% of dividend payers in the Norwegian market (2.96%).

High Dividend: BALT-ME's dividend (3.31%) is low compared to the top 25% of dividend payers in the Norwegian market (7.1%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, BALT-ME has been paying a dividend for less than 10 years.

Growing Dividend: BALT-ME has only been paying a dividend for 2 years, and since then payments have not increased.


Current Payout to Shareholders

Dividend Coverage: BALT-ME is paying a dividend but the company is unprofitable.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

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

2.5yrs

Average board tenure


CEO

Lars Berger

2.67yrs

Tenure

Mr. Lars Christian Berger serves as Chief Executive Officer of Baltic Sea Properties AS since November 2017. He is experienced from finance and real estate management. He has worked as asset manager for se ...


Board Members

NamePositionTenureCompensationOwnership
John Afseth
Directorno datano data5.16% NOK10.4m
John Mosvold
Director5.5yrsno data0.23% NOK459.0k
Sigurd Persson
Chairman of the Board2.17yrsno datano data
Bjørn Bjøro
Director2.17yrsno datano data
James Clarke
Director2.75yrsno datano data

2.5yrs

Average Tenure

Experienced Board: BALT-ME's board of directors are not considered experienced ( 2.5 years average tenure), which suggests a new board.


Ownership

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


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold 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

Baltic Sea Properties AS's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Baltic Sea Properties AS
  • Ticker: BALT-ME
  • Exchange: OB
  • Founded:
  • Industry: Real Estate Operating Companies
  • Sector: Real Estate
  • Market Cap: kr201.368m
  • Shares outstanding: 6.67m
  • Website: https://www.balticsea.no

Location

  • Baltic Sea Properties AS
  • Rosenkrantz’ 20
  • Oslo
  • Oslo
  • 160
  • Norway

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BALT-MEOB (Oslo Bors)YesOrdinary SharesNONOKNov 2017

Biography

Baltic Sea Properties AS, together with its subsidiaries, engages in the commercial real estate business in the Baltics. It develops, rents out, and manages primarily logistics, industrial, and retail properties. The company is based in Oslo, Norway. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/07/10 20:53
End of Day Share Price2020/07/10 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


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.