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
Good value with adequate balance sheet.
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 is not significantly more volatile than the rest of Polish stocks over the past 3 months, typically moving +/- 7% a week.
Volatility Over Time: CIE's weekly volatility (7%) has been stable over the past year.
Market Performance
7 Day Return
-3.2%
CIE
1.9%
PL Chemicals
-0.8%
PL Market
1 Year Return
-16.8%
CIE
10.5%
PL Chemicals
2.0%
PL Market
Return vs Industry: CIE underperformed the Polish Chemicals industry which returned 10.5% over the past year.
Return vs Market: CIE underperformed the Polish Market which returned 2% over the past year.
Shareholder returns
| CIE | Industry | Market | |
|---|---|---|---|
| 7 Day | -3.2% | 1.9% | -0.8% |
| 30 Day | 4.9% | 13.2% | 6.7% |
| 90 Day | 14.6% | 17.8% | 17.1% |
| 1 Year | -16.8%-16.8% | 12.6%10.5% | 2.9%2.0% |
| 3 Year | -40.2%-47.6% | -35.3%-41.4% | -13.0%-18.3% |
| 5 Year | -52.1%-60.2% | -45.2%-52.2% | 26.3%12.1% |
Long-Term 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
3 days ago | Simply Wall St
What Is The Ownership Structure Like For Ciech S.A. (WSE:CIE)?2 weeks ago | Simply Wall St
Does Ciech (WSE:CIE) Have A Healthy Balance Sheet?4 weeks ago | Simply Wall St
Should You Use Ciech's (WSE:CIE) Statutory Earnings To Analyse It?Valuation
Is Ciech undervalued compared to its fair value and its price relative to the market?
29.6%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: CIE (PLN32.1) is trading below our estimate of fair value (PLN45.6)
Significantly Below Fair Value: CIE is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: CIE is good value based on its PE Ratio (15.5x) compared to the PL Chemicals industry average (15.8x).
PE vs Market: CIE is poor value based on its PE Ratio (15.5x) compared to the Polish market (13.8x).
Price to Earnings Growth Ratio
PEG Ratio: CIE is good value based on its PEG Ratio (0.6x)
Price to Book Ratio
PB vs Industry: CIE's PB Ratio (0.8x) is in line with the PL Chemicals industry average.
Next Steps
Future Growth
How is Ciech forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?
27.0%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: CIE's forecast earnings growth (27% per year) is above the savings rate (2.7%).
Earnings vs Market: CIE's earnings (27% per year) are forecast to grow faster than the Polish market (17.6% per year).
High Growth Earnings: earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: CIE's revenue (3.5% per year) is forecast to grow slower than the Polish market (6% per year).
High Growth Revenue: CIE's revenue (3.5% 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 (10.4%).
Next Steps
Past Performance
How has Ciech performed over the past 5 years?
-32.3%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: CIE has high quality earnings.
Growing Profit Margin: CIE became profitable in the past.
Past Earnings Growth Analysis
Earnings Trend: CIE's earnings have declined by 32.3% per year over the past 5 years.
Accelerating Growth: CIE has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.
Earnings vs Industry: CIE has become profitable in the last year, making it difficult to compare its past year earnings growth to the Chemicals industry (-1.4%).
Return on Equity
High ROE: CIE's Return on Equity (5.3%) is considered low.
Next Steps
Financial Health
How is Ciech's financial position?
Financial Position Analysis
Short Term Liabilities: CIE's short term assets (PLN1.4B) exceed its short term liabilities (PLN1.1B).
Long Term Liabilities: CIE's short term assets (PLN1.4B) do not cover its long term liabilities (PLN2.2B).
Debt to Equity History and Analysis
Debt Level: CIE's debt to equity ratio (91.3%) is considered high.
Reducing Debt: CIE's debt to equity ratio has reduced from 101.1% to 91.3% over the past 5 years.
Debt Coverage: CIE's debt is well covered by operating cash flow (43.4%).
Interest Coverage: CIE's interest payments on its debt are well covered by EBIT (10.2x coverage).
Balance Sheet
Next Steps
Dividend
What is Ciech current dividend yield, its reliability and sustainability?
4.15%
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?
2.3yrs
Average management tenure
CEO
Dawid Jakubowicz
2.33yrs
Tenure
zł1,440,000
Compensation
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 | 2.33yrs | zł1.44m | 0.041% PLN 714.3k | |
| Member of the Management Board | 2.33yrs | zł1.20m | 0.016% PLN 284.9k | |
| Member of Management Board | 0.75yr | no data | no data | |
| Chief Accountant | no data | no data | no data |
2.3yrs
Average Tenure
Experienced Management: CIE's management team is considered experienced (2.3 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Member of the Supervisory Board | 6.5yrs | zł461.00k | no data | |
| Member of the Supervisory Board | 0.67yr | no data | no data | |
| Chairman of the Supervisory Board | 5.25yrs | no data | no data | |
| Member of the Supervisory Board | 6.5yrs | zł369.00k | no data | |
| Deputy Chairman of the Supervisory Board | 0.67yr | zł171.00k | 0.0068% PLN 117.9k | |
| Member of the Supervisory Board | 1yr | no data | no data |
3.1yrs
Average Tenure
55yo
Average Age
Experienced Board: CIE's board of directors are considered experienced (3.1 years average tenure).
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: zł1.734b
- 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 | 2021/01/21 18:02 |
| End of Day Share Price | 2021/01/21 00:00 |
| Earnings | 2020/09/30 |
| 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.