Executive Summary
Ciech S.A. manufactures and sells various chemical products in Poland, other European Union countries, other European countries, Africa, Asia, and internationally. More Details
Rewards
Risk Analysis
Snowflake Analysis
Acceptable track record with moderate growth potential.
Similar Companies
Share Price & News
How has Ciech's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: CIE has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
5.8%
CIE
-3.3%
PL Chemicals
-0.6%
PL Market
1 Year Return
-15.1%
CIE
-9.9%
PL Chemicals
-17.5%
PL Market
Return vs Industry: CIE underperformed the Polish Chemicals industry which returned -9.2% over the past year.
Return vs Market: CIE exceeded the Polish Market which returned -16.6% over the past year.
Shareholder returns
| CIE | Industry | Market | |
|---|---|---|---|
| 7 Day | 5.8% | -3.3% | -0.6% |
| 30 Day | -5.7% | -2.6% | -1.8% |
| 90 Day | -14.3% | -18.6% | -10.2% |
| 1 Year | -15.1%-15.1% | -6.4%-9.9% | -16.8%-17.5% |
| 3 Year | -48.5%-54.9% | -44.5%-49.9% | -26.0%-30.4% |
| 5 Year | -55.8%-63.2% | -49.5%-56.0% | -16.0%-25.1% |
Price Volatility Vs. Market
How volatile is Ciech's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 week ago | Simply Wall St
How Many Ciech S.A. (WSE:CIE) Shares Do Institutions Own?3 weeks ago | Simply Wall St
These 4 Measures Indicate That Ciech (WSE:CIE) Is Using Debt Extensively1 month ago | Simply Wall St
Does Ciech's (WSE:CIE) Statutory Profit Adequately Reflect Its Underlying Profit?Valuation
Is Ciech undervalued compared to its fair value and its price relative to the market?
21.19x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: CIE (PLN27.25) is trading above our estimate of fair value (PLN26.92)
Significantly Below Fair Value: CIE is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: CIE is poor value based on its PE Ratio (21.2x) compared to the PL Chemicals industry average (15.8x).
PE vs Market: CIE is poor value based on its PE Ratio (21.2x) compared to the Polish market (12.6x).
Price to Earnings Growth Ratio
PEG Ratio: CIE is good value based on its PEG Ratio (0.8x)
Price to Book Ratio
PB vs Industry: CIE is good value based on its PB Ratio (0.7x) compared to the PL Chemicals industry average (0.9x).
Next Steps
Future Growth
How is Ciech forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?
25.5%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: CIE's forecast earnings growth (25.5% per year) is above the savings rate (2.9%).
Earnings vs Market: CIE's earnings (25.5% per year) are forecast to grow faster than the Polish market (14.4% per year).
High Growth Earnings: earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: CIE's revenue (3.3% per year) is forecast to grow slower than the Polish market (4.8% per year).
High Growth Revenue: CIE's revenue (3.3% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: CIE's Return on Equity is forecast to be low in 3 years time (8.8%).
Next Steps
Past Performance
How has Ciech performed over the past 5 years?
-27.1%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: CIE has a large one-off loss of PLN41.7M impacting its June 30 2020 financial results.
Growing Profit Margin: CIE's current net profit margins (2.1%) are higher than last year (0.6%).
Past Earnings Growth Analysis
Earnings Trend: CIE's earnings have declined by 27.1% per year over the past 5 years.
Accelerating Growth: CIE's earnings growth over the past year (191.7%) exceeds its 5-year average (-27.1% per year).
Earnings vs Industry: CIE earnings growth over the past year (191.7%) exceeded the Chemicals industry 27.3%.
Return on Equity
High ROE: CIE's Return on Equity (3.3%) is considered low.
Next Steps
Financial Health
How is Ciech's financial position?
Financial Position Analysis
Short Term Liabilities: CIE's short term assets (PLN1.6B) exceed its short term liabilities (PLN1.3B).
Long Term Liabilities: CIE's short term assets (PLN1.6B) do not cover its long term liabilities (PLN2.1B).
Debt to Equity History and Analysis
Debt Level: CIE's debt to equity ratio (110.6%) is considered high.
Reducing Debt: CIE's debt to equity ratio has increased from 109% to 110.6% over the past 5 years.
Debt Coverage: CIE's debt is well covered by operating cash flow (33.6%).
Interest Coverage: CIE's interest payments on its debt are well covered by EBIT (8.1x coverage).
Balance Sheet
Next Steps
Dividend
What is Ciech current dividend yield, its reliability and sustainability?
4.34%
Forecast Dividend Yield
Dividend Yield vs Market
Notable Dividend: Unable to evaluate CIE's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.
High Dividend: Unable to evaluate CIE'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 CIE's dividends per share have been stable in the past.
Growing Dividend: Insufficient data to determine if CIE's dividend payments have been increasing.
Current Payout to Shareholders
Dividend Coverage: CIE is not paying a notable dividend for the Polish market.
Future Payout to Shareholders
Future Dividend Coverage: No need to calculate the sustainability of CIE'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?
2.1yrs
Average management tenure
CEO
Dawid Jakubowicz
2.08yrs
Tenure
Mr. Dawid Jakubowicz serves as a Board Member at Kulczyk Investments S.A. He has been President of Management Board at CIECH S.A. December 5, 2018. He served as Member of the Supervisory Board of CIECH S.A ...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President of the Management Board | 2.08yrs | no data | 0.011% PLN 155.7k | |
| Member of the Management Board | 2.08yrs | no data | 0.0037% PLN 52.6k | |
| Member of Management Board | 0.50yr | no data | no data | |
| Chief Accountant | no data | no data | no data |
2.1yrs
Average Tenure
Experienced Management: CIE's management team is considered experienced (2.1 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Member of the Supervisory Board | 6.25yrs | no data | no data | |
| Member of the Supervisory Board | 0.42yr | no data | no data | |
| Chairman of the Supervisory Board | 5yrs | zł38.00k | no data | |
| Member of the Supervisory Board | 6.25yrs | no data | no data | |
| Deputy Chairman of the Supervisory Board | 0.42yr | no data | no data | |
| Member of the Supervisory Board | 0.75yr | no data | no data |
2.9yrs
Average Tenure
55yo
Average Age
Experienced Board: CIE's board of directors are not considered experienced ( 2.9 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
Ciech S.A.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: Ciech S.A.
- Ticker: CIE
- Exchange: WSE
- Founded: 1945
- Industry: Commodity Chemicals
- Sector: Materials
- Market Cap: zł1.436b
- Shares outstanding: 52.70m
- Website: https://www.ciechgroup.com
Number of Employees
Location
- Ciech S.A.
- ul. Wspólna 62
- Warsaw
- 00-684
- Poland
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| CIE | WSE (Warsaw Stock Exchange) | Yes | Ordinary Bearer Shares | PL | PLN | Feb 2005 |
| 0LS7 | LSE (London Stock Exchange) | Yes | Ordinary Bearer Shares | GB | PLN | Feb 2005 |
| CHX | DB (Deutsche Boerse AG) | Yes | Ordinary Bearer Shares | DE | EUR | Feb 2005 |
Biography
Ciech S.A. manufactures and sells various chemical products in Poland, other European Union countries, other European countries, Africa, Asia, and internationally. It operates through four segments: Soda, ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/10/21 21:59 |
| End of Day Share Price | 2020/10/21 00:00 |
| Earnings | 2020/06/30 |
| Annual Earnings | 2019/12/31 |
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.