WSE:IPL

Stock Analysis Report

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Executive Summary

Impel S.A., together with its subsidiaries, provides outsourcing services to companies and institutions in Poland. More Details


Snowflake Analysis

Undervalued with excellent balance sheet.

Share Price & News

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


Latest Share Price and Events

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


Market Performance


7 Day Return

-4.1%

IPL

-0.4%

PL Commercial Services

-0.6%

PL Market


1 Year Return

77.3%

IPL

38.3%

PL Commercial Services

-17.5%

PL Market

Return vs Industry: IPL exceeded the Polish Commercial Services industry which returned 43.8% over the past year.

Return vs Market: IPL exceeded the Polish Market which returned -16.6% over the past year.


Shareholder returns

IPLIndustryMarket
7 Day-4.1%-0.4%-0.6%
30 Day-4.9%2.8%-1.8%
90 Day46.3%-0.3%-10.2%
1 Year77.3%77.3%40.6%38.3%-16.8%-17.5%
3 Year-51.7%-51.7%14.6%11.0%-26.0%-30.4%
5 Year-56.2%-58.1%33.4%30.2%-16.0%-25.1%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: IPL (PLN11.7) is trading below our estimate of fair value (PLN75.85)

Significantly Below Fair Value: IPL is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: IPL is good value based on its PE Ratio (9.5x) compared to the PL Commercial Services industry average (11.1x).

PE vs Market: IPL is good value based on its PE Ratio (9.5x) compared to the Polish market (12.6x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: IPL is good value based on its PB Ratio (0.4x) compared to the PL Commercial Services industry average (1.2x).


Next Steps

Future Growth

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

27.4%

Forecasted Commercial Services 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 Impel 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 Impel performed over the past 5 years?

-18.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: IPL has a large one-off loss of PLN17.7M impacting its June 30 2020 financial results.

Growing Profit Margin: IPL's current net profit margins (0.7%) are higher than last year (0.5%).


Past Earnings Growth Analysis

Earnings Trend: IPL's earnings have declined by 18.7% per year over the past 5 years.

Accelerating Growth: IPL's earnings growth over the past year (54.1%) exceeds its 5-year average (-18.7% per year).

Earnings vs Industry: IPL earnings growth over the past year (54.1%) exceeded the Commercial Services industry 19.4%.


Return on Equity

High ROE: IPL's Return on Equity (5.4%) is considered low.


Next Steps

Financial Health

How is Impel's financial position?


Financial Position Analysis

Short Term Liabilities: IPL's short term assets (PLN773.1M) exceed its short term liabilities (PLN654.7M).

Long Term Liabilities: IPL's short term assets (PLN773.1M) exceed its long term liabilities (PLN85.9M).


Debt to Equity History and Analysis

Debt Level: IPL's debt to equity ratio (66.5%) is considered high.

Reducing Debt: IPL's debt to equity ratio has reduced from 87.6% to 66.5% over the past 5 years.

Debt Coverage: IPL's debt is well covered by operating cash flow (48.8%).

Interest Coverage: IPL's interest payments on its debt are well covered by EBIT (7.3x coverage).


Balance Sheet


Next Steps

Dividend

What is Impel current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

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

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


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: IPL is not paying a notable dividend for the Polish market.


Future Payout to Shareholders

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


Next Steps

Management

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

9.3yrs

Average management tenure


CEO

Grzegorz Dzik

16.75yrs

Tenure

zł1,224,000

Compensation

Mr. Grzegorz Dzik has been General Director of Impel Group and Managing Director at Impel S.A. since 2020. Mr. Dzik has been the President of the Management Board and Chief Executive Officer at Impel S.A. ...


CEO Compensation Analysis

Compensation vs Market: Grzegorz's total compensation ($USD317.75K) is above average for companies of similar size in the Polish market ($USD150.40K).

Compensation vs Earnings: Grzegorz's compensation has increased by more than 20% in the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Grzegorz Dzik
President of the Management Board16.75yrszł1.22mno data
Wojciech Rembikowski
CFO, VP of Management Board & MD of Finance Division13.75yrszł867.00kno data
Jakub Dzik
VP of Management Board & MD of Operations Divisionno datazł793.90kno data
Monika Chudobska
VP of Management Board & MD of Personnel Divisionno datazł656.00kno data
Miroslaw Greber
VP of Management Board & MD of Sales Divisionno datazł702.00kno data
Dawid Poplawski
VP of the Management Board & MD of Controlling and Administration Division0.75yrzł137.79kno data
Józef Biegaj
Member of Supervisory Board & Secretary of Supervisory Board6.17yrszł456.00kno data
Bogdan Dzik
FM General Director4.75yrszł1.18mno data

9.3yrs

Average Tenure

Experienced Management: IPL's management team is seasoned and experienced (9.3 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Józef Biegaj
Member of Supervisory Board & Secretary of Supervisory Board6.17yrszł456.00kno data
Piotr Urbanczyk
Independent Vice Chairman of the Supervisory Board0.25yrzł60.00kno data
Krzysztof Wachowski
Independent Member of the Supervisory Board0.25yrno datano data
Andrzej Kaleta
Independent Chairman of the Supervisory Boardno datazł96.00kno data
Tadeusz Wieckowski
Member of the Supervisory Boardno datazł48.00kno data

0.3yrs

Average Tenure

Experienced Board: IPL's board of directors are not considered experienced ( 0.3 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.


Ownership Breakdown

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


Top Shareholders

Company Information

Impel S.A.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Impel S.A.
  • Ticker: IPL
  • Exchange: WSE
  • Founded: 1990
  • Industry: Diversified Support Services
  • Sector: Commercial Services
  • Market Cap: zł156.955m
  • Shares outstanding: 12.87m
  • Website: https://www.impel.pl

Number of Employees


Location

  • Impel S.A.
  • ul. Slezna 118
  • Wroclaw
  • 53-111
  • Poland

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
IPLWSE (Warsaw Stock Exchange)YesBearer SharesPLPLNNov 2003
0LUJLSE (London Stock Exchange)YesBearer SharesGBPLNNov 2003

Biography

Impel S.A., together with its subsidiaries, provides outsourcing services to companies and institutions in Poland. It operates through Facility Management; Digital Services & Business Process Outsourcing; ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/21 21:08
End of Day Share Price2020/10/21 00:00
Earnings2020/06/30
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.