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Elemental Holding

WSE:EMT
Snowflake Description

Undervalued with adequate balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
EMT
WSE
PLN199M
Market Cap
  1. Home
  2. PL
  3. Commercial Services
Company description

Elemental Holding S.A. operates in the recycling and recyclable material trading industry in Poland, rest of Europe, and Asia. The last earnings update was 20 days ago. More info.


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EMT Share Price and Events
7 Day Returns
-2.8%
WSE:EMT
-0.6%
PL Commercial Services
-0.9%
PL Market
1 Year Returns
-0.3%
WSE:EMT
-13.7%
PL Commercial Services
-7.4%
PL Market
EMT Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Elemental Holding (EMT) -2.8% -7.3% -10.3% -0.3% -67.2% -52.4%
PL Commercial Services -0.6% -0.4% 2.6% -13.7% -2.3% 13%
PL Market -0.9% -7.1% -6.3% -7.4% 9.6% -11.5%
1 Year Return vs Industry and Market
  • EMT outperformed the Commercial Services industry which returned -13.7% over the past year.
  • EMT outperformed the Market in Poland which returned -7.4% over the past year.
Price Volatility
EMT
Industry
5yr Volatility vs Market

EMT Value

 Is Elemental Holding 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 Elemental Holding 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

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

WSE:EMT Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 1 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 11.2%
Perpetual Growth Rate 10-Year PL 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 WSE:EMT
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year PL Govt Bond Rate 2.9%
Equity Risk Premium S&P Global 7.1%
Commercial Services Unlevered Beta Simply Wall St/ S&P Global 0.72
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.718 (1 + (1- 19%) (90.7%))
1.164
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.16
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.85% + (1.164 * 7.14%)
11.16%

Discounted Cash Flow Calculation for WSE:EMT using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Elemental Holding 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.

WSE:EMT DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (PLN, Millions) Source Present Value
Discounted (@ 11.16%)
2019 40.30 Analyst x1 36.25
2020 19.60 Analyst x1 15.86
2021 34.60 Analyst x1 25.19
2022 57.30 Analyst x1 37.53
2023 64.76 Est @ 13.01% 38.15
2024 71.21 Est @ 9.97% 37.74
2025 76.79 Est @ 7.83% 36.61
2026 81.65 Est @ 6.34% 35.02
2027 85.97 Est @ 5.29% 33.17
2028 89.89 Est @ 4.56% 31.20
Present value of next 10 years cash flows PLN326.73
WSE:EMT DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= PLN89.89 × (1 + 2.85%) ÷ (11.16% – 2.85%)
PLN1,112.32
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= PLN1,112.32 ÷ (1 + 11.16%)10
PLN386.08
WSE:EMT Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= PLN326.73 + PLN386.08
PLN712.81
Equity Value per Share
(PLN)
= Total value / Shares Outstanding
= PLN712.81 / 170.47
PLN4.18
WSE:EMT Discount to Share Price
Calculation Result
Value per share (PLN) From above. PLN4.18
Current discount Discount to share price of PLN1.17
= -1 x (PLN1.17 - PLN4.18) / PLN4.18
72.1%

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

Current Discount
Amount off the current price Elemental Holding is available for.
Intrinsic value
>50%
Share price is PLN1.17 vs Future cash flow value of PLN4.18
Current Discount Checks
For Elemental Holding to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Elemental Holding's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Elemental Holding's share price is below the future cash flow value, and 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 Elemental Holding's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Elemental Holding's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
WSE:EMT PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in PLN PLN0.15
WSE:EMT Share Price ** WSE (2019-05-20) in PLN PLN1.17
Poland Commercial Services Industry PE Ratio Median Figure of 23 Publicly-Listed Commercial Services Companies 9.26x
Poland Market PE Ratio Median Figure of 463 Publicly-Listed Companies 10.7x

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

** Primary Listing of Elemental Holding.

WSE:EMT PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= WSE:EMT Share Price ÷ EPS (both in PLN)

= 1.17 ÷ 0.15

7.62x

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

  • Elemental Holding is good value based on earnings compared to the PL Commercial Services industry average.
  • Elemental Holding is good value based on earnings compared to the Poland market.
Price based on expected Growth
Does Elemental Holding's expected growth come at a high price?
Raw Data
WSE:EMT PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 7.62x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
16.2%per year
Europe Commercial Services Industry PEG Ratio Median Figure of 52 Publicly-Listed Commercial Services Companies 1.36x
Poland Market PEG Ratio Median Figure of 113 Publicly-Listed Companies 0.93x

*Line of best fit is calculated by linear regression .

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

  • Unable to calculate PEG ratio for Elemental Holding, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Elemental Holding's assets?
Raw Data
WSE:EMT PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in PLN PLN2.85
WSE:EMT Share Price * WSE (2019-05-20) in PLN PLN1.17
Poland Commercial Services Industry PB Ratio Median Figure of 25 Publicly-Listed Commercial Services Companies 0.96x
Poland Market PB Ratio Median Figure of 689 Publicly-Listed Companies 0.97x
WSE:EMT PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= WSE:EMT Share Price ÷ Book Value per Share (both in PLN)

= 1.17 ÷ 2.85

0.41x

* Primary Listing of Elemental Holding.

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

  • Elemental Holding is good value based on assets compared to the PL Commercial Services industry average.
X
Value checks
We assess Elemental Holding'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 Commercial Services 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 Commercial Services industry average (and greater than 0)? (1 check)
  5. Elemental Holding has a total score of 5/6, 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.

EMT Future Performance

 How is Elemental Holding expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

  • No analysts cover Elemental Holding, future earnings growth has been estimated based on fundamentals.
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
16.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Elemental Holding expected to grow at an attractive rate?
  • Elemental Holding's earnings growth is expected to exceed the low risk savings rate of 2.9%.
Growth vs Market Checks
  • Elemental Holding's earnings growth is expected to exceed the Poland market average.
  • Elemental Holding's revenue growth is expected to exceed the Poland market average.
Annual Growth Rates Comparison
Raw Data
WSE:EMT Future Growth Rates Data Sources
Data Point Source Value (per year)
WSE:EMT Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts 16.2%
WSE:EMT Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 7.8%
Poland Commercial Services Industry Earnings Growth Rate Market Cap Weighted Average 8.5%
Europe Commercial Services Industry Revenue Growth Rate Market Cap Weighted Average 4%
Poland Market Earnings Growth Rate Market Cap Weighted Average 10%
Poland Market Revenue Growth Rate Market Cap Weighted Average 5.5%

*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
WSE:EMT Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in PLN Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
WSE:EMT Future Estimates Data
Date (Data in PLN Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31
2021-12-31 49
2020-12-31 2,085 39 1
2019-12-31 1,892 31 1
WSE:EMT Past Financials Data
Date (Data in PLN Millions) Revenue Cash Flow Net Income *
2018-12-31 1,784 35 26
2018-09-30 1,617 18 24
2018-06-30 1,530 13 24
2018-03-31 1,419 -2 19
2017-12-31 1,392 -8 25
2017-09-30 1,319 -3 34
2017-06-30 1,242 14 37
2017-03-31 1,167 34 50
2016-12-31 1,010 16 51
2016-09-30 940 12 50
2016-06-30 884 2 54
2016-03-31 913 -10 46

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Elemental Holding's earnings are expected to grow by 16.2% yearly, however this is not considered high growth (20% yearly).
  • Elemental Holding's revenue is expected to grow by 7.8% 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
WSE:EMT Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below

All data from Elemental Holding Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WSE:EMT Future Estimates Data
Date (Data in PLN Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31
2021-12-31
2020-12-31
2019-12-31
WSE:EMT Past Financials Data
Date (Data in PLN Millions) EPS *
2018-12-31 0.15
2018-09-30 0.14
2018-06-30 0.14
2018-03-31 0.11
2017-12-31 0.15
2017-09-30 0.20
2017-06-30 0.22
2017-03-31 0.29
2016-12-31 0.30
2016-09-30 0.29
2016-06-30 0.32
2016-03-31 0.28

*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.
  • Unable to establish if Elemental Holding will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Elemental Holding'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 Poland market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe 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.
Elemental Holding has a total score of 3/6, 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.

EMT Past Performance

  How has Elemental Holding 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 Elemental Holding's growth in the last year to its industry (Commercial Services).
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.
  • Elemental Holding's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Elemental Holding's 1-year earnings growth exceeds its 5-year average (5.3% vs -2.1%)
  • Elemental Holding's earnings growth has not exceeded the PL Commercial Services industry average in the past year (5.3% vs 34.4%).
Earnings and Revenue History
Elemental Holding'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 Elemental Holding Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WSE:EMT Past Revenue, Cash Flow and Net Income Data
Date (Data in PLN Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 1,783.91 26.08 89.98
2018-09-30 1,617.38 23.84 71.12
2018-06-30 1,530.07 23.80 66.26
2018-03-31 1,418.98 18.54 59.74
2017-12-31 1,392.17 24.77 59.95
2017-09-30 1,319.02 33.60 72.46
2017-06-30 1,242.48 36.83 68.74
2017-03-31 1,166.58 49.72 63.64
2016-12-31 1,009.92 50.76 59.76
2016-09-30 940.20 49.98 59.98
2016-06-30 884.39 53.72 61.89
2016-03-31 913.22 45.87 63.37
2015-12-31 927.33 45.55 64.73
2015-09-30 905.15 42.36 63.74
2015-06-30 915.55 36.13 61.51
2015-03-31 794.51 34.17 59.08
2014-12-31 763.40 31.14 53.60
2014-09-30 792.98 30.17 43.86
2014-06-30 772.42 28.43 37.29
2014-03-31 811.10 28.13 32.44
2013-12-31 858.71 24.45 29.93
2013-09-30 845.54 26.85 29.36
2013-06-30 868.79 24.75 27.78
2013-03-31 895.33 20.32 26.12
2012-12-31 894.94 19.18 24.99
2012-09-30 810.85 12.18 24.04
2012-06-30 719.61 11.04 21.09

*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.
  • Elemental Holding has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Elemental Holding used its assets less efficiently than the PL Commercial Services industry average last year based on Return on Assets.
  • Elemental Holding's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Elemental Holding'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 Commercial Services 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.
Elemental Holding has a total score of 1/6, 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.

EMT Health

 How is Elemental Holding'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 Elemental Holding's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Elemental Holding is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Elemental Holding's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Elemental Holding'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 2.1x 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 Elemental Holding Company Filings, last reported 4 months ago.

WSE:EMT Past Debt and Equity Data
Date (Data in PLN Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 515.85 180.28 27.61
2018-09-30 515.70 178.46 38.45
2018-06-30 508.38 178.68 50.89
2018-03-31 492.97 158.43 23.37
2017-12-31 480.46 175.03 41.74
2017-09-30 467.30 160.24 38.59
2017-06-30 457.96 95.92 61.54
2017-03-31 462.59 101.39 90.62
2016-12-31 450.32 154.08 83.05
2016-09-30 397.57 66.99 111.51
2016-06-30 385.23 82.05 128.12
2016-03-31 367.39 81.97 125.63
2015-12-31 354.74 67.98 98.29
2015-09-30 289.10 76.65 118.43
2015-06-30 275.07 83.24 68.05
2015-03-31 301.40 148.27 65.05
2014-12-31 275.46 116.21 104.27
2014-09-30 285.51 71.68 52.96
2014-06-30 276.30 71.30 49.70
2014-03-31 266.76 55.26 60.91
2013-12-31 257.55 72.52 20.77
2013-09-30 197.81 51.68 35.65
2013-06-30 184.76 50.14 28.87
2013-03-31 136.10 44.96 8.76
2012-12-31 117.28 54.14 4.50
2012-09-30 112.99 47.30 4.72
2012-06-30 94.44 42.99 3.53
  • Elemental Holding's level of debt (34.9%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (28.1% vs 34.9% today).
  • Debt is not well covered by operating cash flow (19.1%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 6.8x coverage).
X
Financial health checks
We assess Elemental Holding'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. Elemental Holding 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.

EMT Dividends

 What is Elemental Holding'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
0%
Current annual income from Elemental Holding dividends.
If you bought PLN2,000 of Elemental Holding shares you are expected to receive PLN0 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?
  • Unable to evaluate Elemental Holding's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Elemental Holding's dividend against the top 25% market benchmark as the company has not reported any payouts.
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
WSE:EMT 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 1 Analyst Estimates (S&P Global) See Below
Europe Commercial Services Industry Average Dividend Yield Market Cap Weighted Average of 77 Stocks 3.1%
Poland Market Average Dividend Yield Market Cap Weighted Average of 200 Stocks 4.1%
Poland Minimum Threshold Dividend Yield 10th Percentile 1.5%
Poland Bottom 25% Dividend Yield 25th Percentile 2.8%
Poland Top 25% Dividend Yield 75th Percentile 7.9%

Industry and Market average data is calculated daily.

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

WSE:EMT Future Dividends Estimate Data
Date (Data in PLN) Dividend per Share (annual) Avg. No. Analysts
2022-12-31
2021-12-31
2020-12-31
2019-12-31

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

  • Unable to perform a dividend volatility check as Elemental Holding has not reported any payouts.
  • Unable to verify if Elemental Holding's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Elemental Holding's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Elemental Holding has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Elemental Holding'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 Elemental Holding afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Elemental Holding has a total score of 0/6, see the detailed checks below.


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

EMT Management

 What is the CEO of Elemental Holding'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
Pawel Jarski
COMPENSATION PLN0
CEO Bio

Mr. Pawel Jarski has been the President of Management Board at Elemental Holding S.A. since March 2011. From 2001 to 2003, Mr. Jarski conducted his business activity consisting in providing IT services to companies and simultaneously worked as a Project Manager in several companies with foreign capital. Between 2004 and 2010, he was a co-owner and the Management Board President at SYNERGIS Sp. z o.o. company, which in its third year of operations in Poland became the leader in the waste electrical and electronic equipment collection and treatment market and a major company in the non-ferrous metals trading and recycling market. Moreover, between 2008 and 2010, as the management board president, he managed SYNERGIS Electrorecycling SA and Electro-System SA, until the companies were sold to a sector investor. In 2010, after selling SYNERGIS Sp. z o.o. to another sector investor, Mr. Jarski performed a function of a Managing Director at Tesla Recycling SA, whose core business was recycling and management of rare metals. Mr. Jarski worked at Tesla Recycling SA until March 2011. Mr. Jarski has been a Member of Supervisory Boards at Syntom S.A. since November 2011 and Tesla Recycling S.A. since November 2011. Mr. Jarski serves as Chairman of Supervisory Board at Prime Minerals S.A. and served as its Member of supervisory Board since April 28, 2015. He is a scholarship holder of Helsinki School of Economics (Finland) and Jonkoping Business School (Switzerland) where he studied business management related fields. Mr. Jarski graduated from Kozminski University, his speciality being IT in Management and Human Resource Management.

CEO Compensation
  • Pawel's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Pawel's remuneration is higher than average for companies of similar size in Poland.
Management Team

Pawel Jarski

TITLE
President of Management Board

Michal Zygmunt

TITLE
Vice-President of the Management Board

Anna Kostro

TITLE
Member of Management Board

Krzysztof Spyra

TITLE
Member of the Management Board
TENURE
1.1 yrs
Board of Directors

Jaroslaw Michalik

TITLE
Chairman of the Supervisory Board
AGE
38
TENURE
1.1 yrs

Tomasz Malinowski

TITLE
Member of Supervisory Board
TENURE
3.9 yrs

Karol Kuch

TITLE
Member of Supervisory Board
AGE
41

Marek Piosik

TITLE
Member of the Supervisory Board

Edyta Jusiel

TITLE
Member of the Supervisory Board
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 (PLN) Value (PLN)
X
Management checks
We assess Elemental Holding'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. Elemental Holding 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.

EMT News

Simply Wall St News

Should You Worry About Elemental Holding S.A.’s (WSE:EMT) ROCE?

In particular, we'll consider its Return On Capital Employed (ROCE), as that can give us insight into how profitably the company is able to employ capital in its business. … Return On Capital Employed (ROCE): What is it? … ROCE measures the 'return' (pre-tax profit) a company generates from capital employed in its business.

Simply Wall St -

What Should Investors Know About Elemental Holding SA's (WSE:EMT) Capital Returns?

This share represents a portion of capital used by the company to operate the business, and it is important the company is able to use the capital base efficiently to create adequate cash flows for you as an investor. … You need to pay attention to this because your return on investment is linked to dividends and internal investments to improve the business, which can only occur if the company is expected to produce adequate earnings with the capital that has been provided. … To understand Elemental Holding’s capital returns we will look at a useful metric called return on capital employed.

Simply Wall St -

Who Are The Major Shareholders In Elemental Holding SA (WSE:EMT)?

Today, I will be analyzing Elemental Holding SA’s (WSE:EMT) recent ownership structure, an important but not-so-popular subject among individual investors. … Differences in ownership structure of companies can have a profound effect on how management's incentives are aligned with shareholder returns, and whether they adhere to corporate governance best practices. … WSE:EMT Ownership Summary July 16th 18

Simply Wall St -

Should You Be Tempted To Buy Elemental Holding SA (WSE:EMT) Because Of Its PE Ratio?

and want to better understand how you can grow your money by investing in Elemental Holding SA (WSE:EMT). … Elemental Holding SA (WSE:EMT) trades with a trailing P/E of 7.4x, which is lower than the industry average of 11.9x. … While EMT might seem like an attractive stock to buy, it is important to understand the assumptions behind the P/E ratio before you make any investment decisions

Simply Wall St -

When Should You Buy Elemental Holding SA. (WSE:EMT)?

What’s more interesting is that, Elemental Holding’s share price is quite stable, which could mean two things: firstly, it may take the share price a while to move to its intrinsic value, and secondly, there may be less chances to buy low in the future once it reaches that value. … What does the future of Elemental Holding look like? … Although value investors would argue that it’s the intrinsic value relative to the price that matter the most, a more compelling investment thesis would be high growth potential at a cheap price.

Simply Wall St -

Elemental Holding SA. (WSE:EMT): Does The Earnings Decline Make It An Underperformer?

For Elemental Holding, its most recent trailing-twelve-month earnings is ZŁ33.60M, which, against last year’s level, has declined by a large -32.78%. … Given that these figures may be relatively short-term thinking, I have computed an annualized five-year figure for EMT's earnings, which stands at ZŁ31.40M This means that even though earnings declined from last year, over the past couple of years, Elemental Holding's earnings have been growing on average. … This means whatever uplift the industry is benefiting from, Elemental Holding has not been able to gain as much as its average peer.What does this mean?

Simply Wall St -

What does Elemental Holding SA.'s (WSE:EMT) Balance Sheet Tell Us About Its Future?

How does EMT’s operating cash flow stack up against its debt? … Additionally, EMT has generated cash from operations of ZŁ16.02M over the same time period, resulting in an operating cash to total debt ratio of 17.46%, signalling that EMT’s operating cash is not sufficient to cover its debt. … For EMT, the ratio of 13.94x suggests that interest is comfortably covered, which means that lenders may be inclined to lend more money to the company, as it is seen as safe in terms of payback.Next Steps: EMT’s cash flow coverage indicates it could improve its operating efficiency in order to meet demand for debt repayments should unforeseen events arise.

Simply Wall St -

EMT Company Info

Description

Elemental Holding S.A. operates in the recycling and recyclable material trading industry in Poland, rest of Europe, and Asia. The company is primarily involved in the recovery of reusable raw materials and rare metals from electronic devices, household appliances, and audio-visual equipment; and recovery of non-ferrous metals from used electronic and electric equipment, manufacturing wastes, structural elements from demolition, communal wastes, used cars, machines, and their parts. It also obtains and trades in raw non-ferrous metals, such as aluminum, copper, lead, and zinc; and their alloys, including brass, bronze, zamak, and kainer, as well as precious metals comprising platinum, gold, and silver. In addition, the company engages in the purchase, transport, and trade of recycled steel and non-ferrous metals; and international trade of non-ferrous metals. It supplies recyclable materials for metalworks and foundries. Elemental Holding S.A. is based in Grodzisk Mazowiecki, Poland.

Details
Name: Elemental Holding S.A.
EMT
Exchange: WSE
Founded:
PLN198,763,431
170,466,065
Website: http://www.elemental.biz
Address: Elemental Holding S.A.
ul. Traugutta 42A,
Grodzisk Mazowiecki,
05-825,
Poland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
WSE EMT Common Bearer Shares Warsaw Stock Exchange PL PLN 12. Jul 2012
LSE 0RKO Common Bearer Shares London Stock Exchange GB PLN 12. Jul 2012
Number of employees
Current staff
Staff numbers
0
Elemental Holding employees.
Industry
Environmental and Facilities Services
Commercial Services
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/20 21:50
End of day share price update: 2019/05/20 00:00
Last estimates confirmation: 2019/05/02
Last earnings filing: 2019/04/30
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.