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Impexmetal

WSE:IPX
Snowflake Description

Flawless balance sheet with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
IPX
WSE
PLN797M
Market Cap
  1. Home
  2. PL
  3. Materials
Company description

Impexmetal S.A. produces, sells, and trades in non-ferrous metals, semi-finished products, and bearings in Poland, other European countries, and internationally. The last earnings update was 38 days ago. More info.


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IPX Share Price and Events
7 Day Returns
-1.2%
WSE:IPX
1.1%
PL Metals and Mining
0.3%
PL Market
1 Year Returns
-1.2%
WSE:IPX
-14.7%
PL Metals and Mining
-1.5%
PL Market
IPX Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Impexmetal (IPX) -1.2% -1.4% 12% -1.2% 64.7% 64.1%
PL Metals and Mining 1.1% -2.3% -9% -14.7% 41% -13.4%
PL Market 0.3% 3.4% -4.1% -1.5% 16% -8.6%
1 Year Return vs Industry and Market
  • IPX outperformed the Metals and Mining industry which returned -14.7% over the past year.
Price Volatility
IPX
Industry
5yr Volatility vs Market

IPX Value

 Is Impexmetal 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 Impexmetal 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 Impexmetal.

WSE:IPX Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 2 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 14%
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:IPX
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year PL Govt Bond Rate 2.9%
Equity Risk Premium S&P Global 7.1%
Metals and Mining Unlevered Beta Simply Wall St/ S&P Global 1.03
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.025 (1 + (1- 19%) (97.13%))
1.557
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.56
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.85% + (1.557 * 7.14%)
13.97%

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

The calculations below outline how an intrinsic value for Impexmetal 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:IPX DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (PLN, Millions) Source Present Value
Discounted (@ 13.97%)
2019 25.90 Analyst x1 22.73
2020 58.60 Analyst x1 45.12
2021 19.00 Analyst x1 12.84
2022 12.47 Est @ -34.39% 7.39
2023 9.57 Est @ -23.21% 4.98
2024 8.10 Est @ -15.4% 3.70
2025 7.30 Est @ -9.92% 2.92
2026 6.85 Est @ -6.09% 2.41
2027 6.62 Est @ -3.41% 2.04
2028 6.52 Est @ -1.53% 1.76
Present value of next 10 years cash flows PLN105.87
WSE:IPX DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= PLN6.52 × (1 + 2.85%) ÷ (13.97% – 2.85%)
PLN60.28
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= PLN60.28 ÷ (1 + 13.97%)10
PLN16.30
WSE:IPX Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= PLN105.87 + PLN16.30
PLN122.18
Equity Value per Share
(PLN)
= Total value / Shares Outstanding
= PLN122.18 / 189.80
PLN0.64
WSE:IPX Discount to Share Price
Calculation Result
Value per share (PLN) From above. PLN0.64
Current discount Discount to share price of PLN4.20
= -1 x (PLN4.20 - PLN0.64) / PLN0.64
-552.5%

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

  • The current share price of Impexmetal is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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 Impexmetal's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Impexmetal's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
WSE:IPX PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in PLN PLN0.85
WSE:IPX Share Price ** WSE (2019-06-17) in PLN PLN4.2
Poland Metals and Mining Industry PE Ratio Median Figure of 15 Publicly-Listed Metals and Mining Companies 6.33x
Poland Market PE Ratio Median Figure of 455 Publicly-Listed Companies 10.83x

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

** Primary Listing of Impexmetal.

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

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

= 4.2 ÷ 0.85

4.94x

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

  • Impexmetal is good value based on earnings compared to the PL Metals and Mining industry average.
  • Impexmetal is good value based on earnings compared to the Poland market.
Price based on expected Growth
Does Impexmetal's expected growth come at a high price?
Raw Data
WSE:IPX PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 4.94x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
-2.3%per year
Poland Metals and Mining Industry PEG Ratio Median Figure of 11 Publicly-Listed Metals and Mining Companies 0.42x
Poland Market PEG Ratio Median Figure of 109 Publicly-Listed Companies 1.03x

*Line of best fit is calculated by linear regression .

WSE:IPX PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 4.94x ÷ -2.3%

-2.11x

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

  • Impexmetal earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Impexmetal's assets?
Raw Data
WSE:IPX PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in PLN PLN8.58
WSE:IPX Share Price * WSE (2019-06-17) in PLN PLN4.2
Poland Metals and Mining Industry PB Ratio Median Figure of 18 Publicly-Listed Metals and Mining Companies 0.73x
Poland Market PB Ratio Median Figure of 687 Publicly-Listed Companies 0.96x
WSE:IPX PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 4.2 ÷ 8.58

0.49x

* Primary Listing of Impexmetal.

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

  • Impexmetal is good value based on assets compared to the PL Metals and Mining industry average.
X
Value checks
We assess Impexmetal'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 Metals and Mining 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 Metals and Mining industry average (and greater than 0)? (1 check)
  5. Impexmetal has a total score of 3/6, 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.

IPX Future Performance

 How is Impexmetal expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

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
-2.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Impexmetal expected to grow at an attractive rate?
  • Impexmetal's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2.9%.
Growth vs Market Checks
  • Impexmetal's earnings are expected to decrease over the next 1-3 years, this is below the Poland market average.
  • Impexmetal's revenue growth is positive but not above the Poland market average.
Annual Growth Rates Comparison
Raw Data
WSE:IPX Future Growth Rates Data Sources
Data Point Source Value (per year)
WSE:IPX Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts -2.3%
WSE:IPX Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 1.2%
Poland Metals and Mining Industry Earnings Growth Rate Market Cap Weighted Average -0.7%
Poland Metals and Mining Industry Revenue Growth Rate Market Cap Weighted Average 0.6%
Poland Market Earnings Growth Rate Market Cap Weighted Average 10.5%
Poland Market Revenue Growth Rate Market Cap Weighted Average 5.6%

*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:IPX Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in PLN Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
WSE:IPX Future Estimates Data
Date (Data in PLN Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 3,238 221 1
2020-12-31 3,333 202 154 2
2019-12-31 3,048 277 144 1
WSE:IPX Past Financials Data
Date (Data in PLN Millions) Revenue Cash Flow Net Income *
2019-03-31 3,255 226 161
2018-12-31 3,300 214 163
2018-09-30 3,375 191 106
2018-06-30 3,384 200 92
2018-03-31 3,383 205 82
2017-12-31 3,353 160 74
2017-09-30 3,230 176 136
2017-06-30 3,115 94 141
2017-03-31 3,004 100 133
2016-12-31 2,893 125 130
2016-09-30 2,871 114 186
2016-06-30 2,881 273 158

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Impexmetal's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Impexmetal's revenue is expected to grow by 1.2% 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:IPX Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from Impexmetal Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WSE:IPX Future Estimates Data
Date (Data in PLN Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31
2020-12-31 0.80 0.80 0.80 1.00
2019-12-31 0.70 0.70 0.70 1.00
WSE:IPX Past Financials Data
Date (Data in PLN Millions) EPS *
2019-03-31 0.85
2018-12-31 0.86
2018-09-30 0.56
2018-06-30 0.48
2018-03-31 0.43
2017-12-31 0.39
2017-09-30 0.71
2017-06-30 0.74
2017-03-31 0.69
2016-12-31 0.68
2016-09-30 0.97
2016-06-30 0.82

*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 Impexmetal will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Impexmetal'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 Poland 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.
Impexmetal has a total score of 0/6, 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.

IPX Past Performance

  How has Impexmetal 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 Impexmetal's growth in the last year to its industry (Metals and Mining).
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.
  • Impexmetal's year on year earnings growth rate has been positive over the past 5 years.
  • Impexmetal's 1-year earnings growth exceeds its 5-year average (97.5% vs 9.1%)
  • Impexmetal's earnings growth has exceeded the PL Metals and Mining industry average in the past year (97.5% vs 5.3%).
Earnings and Revenue History
Impexmetal'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 Impexmetal Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WSE:IPX Past Revenue, Cash Flow and Net Income Data
Date (Data in PLN Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 3,255.34 161.06 155.95
2018-12-31 3,299.68 163.12 154.72
2018-09-30 3,374.93 105.97 156.07
2018-06-30 3,384.42 91.84 158.19
2018-03-31 3,383.13 81.55 158.74
2017-12-31 3,353.39 74.03 158.41
2017-09-30 3,230.05 135.84 155.48
2017-06-30 3,114.82 141.39 149.90
2017-03-31 3,004.10 133.05 147.36
2016-12-31 2,893.22 130.30 147.65
2016-09-30 2,870.66 186.41 140.79
2016-06-30 2,880.85 157.93 137.00
2016-03-31 3,022.53 147.93 131.62
2015-12-31 3,154.06 139.61 123.92
2015-09-30 3,198.88 105.34 120.97
2015-06-30 3,215.59 115.00 116.48
2015-03-31 3,046.74 113.13 113.94
2014-12-31 2,819.49 104.40 111.57
2014-09-30 2,725.03 62.71 110.41
2014-06-30 2,709.63 53.63 111.65
2014-03-31 2,686.97 49.15 113.20
2013-12-31 2,728.68 59.85 113.86
2013-09-30 2,734.89 70.68 114.42
2013-06-30 2,646.80 63.78 113.08
2013-03-31 2,587.26 67.49 111.69
2012-12-31 2,596.29 70.21 112.25
2012-09-30 2,624.54 77.49 112.70
2012-06-30 2,675.48 84.81 114.48

*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.
  • Impexmetal has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Impexmetal used its assets less efficiently than the PL Metals and Mining industry average last year based on Return on Assets.
  • Impexmetal has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Impexmetal'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 Metals and Mining 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.
Impexmetal has a total score of 4/6, 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.

IPX Health

 How is Impexmetal'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 Impexmetal's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Impexmetal is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Impexmetal's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Impexmetal'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 2.7x 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 Impexmetal Company Filings, last reported 2 months ago.

WSE:IPX Past Debt and Equity Data
Date (Data in PLN Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 2,173.54 774.30 132.13
2018-12-31 1,899.64 474.61 133.60
2018-09-30 1,890.93 474.10 85.55
2018-06-30 1,830.65 476.24 75.66
2018-03-31 1,818.34 511.86 133.02
2017-12-31 1,780.21 473.20 113.63
2017-09-30 1,834.92 516.53 111.81
2017-06-30 1,819.58 493.01 138.49
2017-03-31 1,774.46 547.57 144.09
2016-12-31 1,700.57 496.18 152.47
2016-09-30 1,605.11 488.25 52.98
2016-06-30 1,534.25 413.09 66.19
2016-03-31 1,503.29 437.87 74.06
2015-12-31 1,466.29 407.58 72.86
2015-09-30 1,389.99 388.61 49.15
2015-06-30 1,392.79 425.59 51.57
2015-03-31 1,229.74 431.20 45.99
2014-12-31 1,198.39 399.31 34.45
2014-09-30 1,159.16 426.26 27.94
2014-06-30 1,108.95 375.70 40.97
2014-03-31 1,077.25 407.75 40.79
2013-12-31 1,071.15 411.79 36.84
2013-09-30 1,053.84 390.18 52.84
2013-06-30 1,019.41 390.02 35.16
2013-03-31 1,001.43 363.22 34.20
2012-12-31 986.33 340.34 36.51
2012-09-30 979.06 354.87 64.00
2012-06-30 972.09 398.42 52.46
  • Impexmetal's level of debt (28.5%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (37.8% vs 28.5% today).
  • Debt is well covered by operating cash flow (36.4%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 27.2x coverage).
X
Financial health checks
We assess Impexmetal'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. Impexmetal has a total score of 6/6, 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.

IPX Dividends

 What is Impexmetal'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 Impexmetal dividends.
If you bought PLN2,000 of Impexmetal 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 Impexmetal's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Impexmetal'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:IPX 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 2 Analyst Estimates (S&P Global) See Below
Poland Metals and Mining Industry Average Dividend Yield Market Cap Weighted Average of 9 Stocks 5.2%
Poland Market Average Dividend Yield Market Cap Weighted Average of 203 Stocks 4.3%
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 7.5%

Industry and Market average data is calculated daily.

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

WSE:IPX Future Dividends Estimate Data
Date (Data in PLN) Dividend per Share (annual) Avg. No. Analysts
2021-12-31
2020-12-31
2019-12-31
WSE:IPX Past Annualized Dividends Data
Date (Data in PLN) Dividend per share (annual) Avg. Yield (%)
2014-11-14 0.000 0.000
2014-08-13 0.000 0.000
2014-05-13 0.000 0.000
2014-04-15 0.000 0.000
2014-02-20 0.000 0.000
2012-04-20 0.200 6.470
2012-02-22 0.200 4.731
2011-08-11 0.200 5.497
2011-04-15 0.200 4.086
2010-02-25 0.000 0.000
2009-11-12 0.000 0.000
2009-09-01 0.000 0.000

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

  • Unable to perform a dividend volatility check as Impexmetal has not reported any payouts.
  • Unable to verify if Impexmetal's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Impexmetal's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Impexmetal 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 Impexmetal'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 Impexmetal afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Impexmetal 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.

IPX Management

 What is the CEO of Impexmetal'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
Piotr Szeliga
COMPENSATION PLN123,000
TENURE AS CEO 0.6 years
CEO Bio

Mr. Piotr Szeliga is President of the Management Board at Impexmetal S.A. November 7, 2018 and was its Member of Supervisory Board until November 7, 2018. He served as an Acting President of the Management Board and General Director at Boryszew S.A. since January 2018 until 2018. Mr. Szeliga served as a Member of Management Board at Boryszew S.A. since October 01, 2016 until 2018 and served as its Director of the Metals Segment until January 2018. Mr. Szeliga served as the Chief Executive Officer and President of Management Board of Boryszew S.A. since May 2012 and September 2007 respectively. He served as Managerial Controlling Advisor of Boryszew S.A. He served as the Chairman of the Management Board of Impexmetal SA (AKA Impexmetal Spolka Akcyjna) since September 6, 2007 and served as its Member of Management Board since July 17, 2007 and General Director since 2007. He joined Impexmetal S.A. since 2003 and served as its Financial Director of Planning and Development of Impexmetal Group, Financial Director of Accounting. Mr. Szeliga served as Financial Director of Impexmetal Spolka Akcyjna since July 17, 2007. He served as an Acting Financial Director of Impexmetal S.A. since January 2007. He served as a Member of Management Board and Financial Director of Impexmetal S.A. since July 17, 2007. He served as an Acting Chairman of the Management Board of Impexmetal S.A. since September 6, 2007. He served as Director of Accounting of at Boryszew S.A. since February 2006 and its Financial Director since January 2007. He served as Financial Controller of ce-market.com S.A from 2000 to 2003. He served as Senior Consultant - Manager of projects of Arthur Andersen Sp. z o.o. from 1996 to 2000. He serves as Deputy Chairman of Supervisory Board at ZM SILESIA SA. He serves as Vice Chairman and Member of the Supervisory Board of Impexmetal Capital Group, Aluminium Konin-Impexmetal S.A., WM Dziedzice S.A., HMN Szopienice S.A., ZM Silesia S.A., FLT Polska Sp. z o.o., Baterpol Sp. z o.o. and FLT and Metals Ltd., London. He served as Vice Chairman of the Supervisory Board of Hutmen S.A (formerly Hutmen Spólka Akcyjna) until July 20, 2017 and serves as its Member of the Supervisory Board. He is a Certified Auditor, registered under no 10363. Mr. Szeliga is graduated Master of Arts in Economy and graduated Economic Academy in Cracow and Stockholm University/Stockholm International Banking Institute and ACCA Diploma in International Financial Reporting.

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

Malgorzata Iwanejko

TITLE
Member of the Management Board
COMPENSATION
PLN835K

Damian Pakulski

TITLE
Secretary & Member of the Supervisory Board

Piotr Szeliga

TITLE
President of the Management Board
COMPENSATION
PLN123K
TENURE
0.6 yrs

Agata Grabowska

TITLE
Chief Accountant

Piotr Górowski

TITLE
President of Board of Hutmen SA
COMPENSATION
PLN468K

Andrzej Latka

TITLE
President of the Board - Baterpol Sp z o o

Slawomir Lukaszewski

TITLE
President of the Board - FLT Polska Sp z o o

Boguslaw Peczela

TITLE
President of the Board for Aluminium Konin

Jan Ziaja

TITLE
President of the Board - Zaklady Metalurgiczne Silesia SA
Board of Directors Tenure

Average tenure of the Impexmetal board of directors in years:

3
Average Tenure
  • The tenure for the Impexmetal board of directors is about average.
Board of Directors

Arkadiusz Krezel

TITLE
Chairman of the Supervisory Board
TENURE
3 yrs

Karina Wsciubiak-Hankó

TITLE
Deputy Chairman of the Supervisory Board
AGE
39

Damian Pakulski

TITLE
Secretary & Member of the Supervisory Board
TENURE
4.4 yrs

Janusz Wisniewski

TITLE
Member of the Supervisory Board
TENURE
1 yrs

Pawel Blaszczyk

TITLE
Member of the Supervisory Board
TENURE
3 yrs
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 Impexmetal'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. Impexmetal 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.

IPX News

Simply Wall St News

Do Institutions Own Shares In Impexmetal S.A. (WSE:IPX)?

Our analysis of the ownership of the company, below, shows that institutional investors have bought into the company. … View our latest analysis for Impexmetal WSE:IPX Ownership Summary, May 14th 2019 What Does The Institutional Ownership Tell Us About Impexmetal? … Private Company Ownership Our data indicates that Private Companies hold 70%, of the company's shares.

Simply Wall St -

Evaluating Impexmetal S.A.’s (WSE:IPX) Investments In Its Business

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. … What is Return On Capital Employed (ROCE)? … ROCE is a metric for evaluating how much pre-tax income (in percentage terms) a company earns on the capital invested in its business.

Simply Wall St -

Did You Miss Impexmetal's (WSE:IPX) 51% Share Price Gain?

(WSE:IPX) shareholders have seen the share price rise 51% over three years, well in excess of the market return (13%, not including dividends). … By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time. … Impexmetal was able to grow its EPS at 0.7% per year over three years, sending the share price higher.

Simply Wall St -

Does Impexmetal S.A.'s (WSE:IPX) P/E Ratio Signal A Buying Opportunity?

The goal of this article is to teach you how to use price to earnings ratios (P/E ratios). … That corresponds to an earnings yield of approximately 16%. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

An Examination Of Impexmetal S.A. (WSE:IPX)

Attractive stocks have exceptional fundamentals. … is a company that has been able to sustain great financial health, trading at an attractive share price. … For those interested in understanding where the figures come from and want to see the analysis,

Simply Wall St -

What Kind Of Investor Owns Most Of Impexmetal S.A. (WSE:IPX)?

(WSE:IPX) have power over the company. … Impexmetal is a smaller company with a market capitalization of zł619m, so it may still be flying under the radar of many institutional investors. … Our analysis of the ownership of the company, below, shows that.

Simply Wall St -

Should You Be Tempted To Buy Impexmetal SA (WSE:IPX) At Its Current PE Ratio?

This analysis is intended to introduce important early concepts to people who are starting to invest. … While IPX 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. … I will break down what the P/E ratio is, how to interpret it and what to watch out for

Simply Wall St -

Who Are The Major Shareholders Of Impexmetal SA (WSE:IPX)?

Today, I will be analyzing Impexmetal SA’s (WSE:IPX) recent ownership structure, an important but not-so-popular subject among individual investors. … When it comes to ownership structure of a company, the impact has been observed in both the long-and short-term performance of shares. … 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.

Simply Wall St -

Should You Be Tempted To Buy Impexmetal SA. (WSE:IPX) At Its Current PE Ratio?

Formula Price-Earnings Ratio = Price per share ÷ Earnings per share P/E Calculation for IPX Price per share = PLN4.07 Earnings per share = PLN0.385 ∴ Price-Earnings Ratio = PLN4.07 ÷ PLN0.385 = 10.6x The P/E ratio isn’t a metric you view in isolation and only becomes useful when you compare it against other similar companies. … Since IPX's P/E of 10.6x is lower than its industry peers (11.7x), it means that investors are paying less than they should for each dollar of IPX's earnings. … For example, if you inadvertently compared lower risk firms with IPX, then investors would naturally value IPX at a lower price since it is a riskier investment.

Simply Wall St -

Impexmetal SA.'s (WSE:IPX) Earnings Dropped -28.47%, Did Its Industry Show Weakness Too?

Today I will run you through a basic sense check to gain perspective on how Impexmetal is doing by comparing its latest earnings with its long-term trend as well as the performance of its metals and mining industry peers. … For Impexmetal, its latest trailing-twelve-month earnings is ZŁ133.34M, which, against the prior year's level, has dropped by -28.47%. … Inspecting growth from a sector-level, the PL metals and mining industry has been enduring some headwinds over the past twelve months, leading to an average earnings drop of -11.68%.

Simply Wall St -

IPX Company Info

Description

Impexmetal S.A. produces, sells, and trades in non-ferrous metals, semi-finished products, and bearings in Poland, other European countries, and internationally. It operates through Aluminum, Copper, Zinc and Lead, and Trade segments. The company offers aluminum hot and cold-rolled sheets and strips, fluted sheets, and stucco sheets and strips; copper tubes consisting of installations tubes, copper rods, tellurium copper rods, bronze rods, copper flat bars, copper sections, and casting alloys; brass tubes comprising incondenser tubes; aluminum and brass profiles; brass wires, rods, and profiles; ECO alloy rods; and coins blanks, as well as copper alloy strips. It also provides refined lead and alloys of lead with antimony, tin, selenium, calcium, and silver; rolled and extruded lead and its alloy products, such as sheets, strips, anodes, pipes, rods, and wires; polypropylene; sodium sulphate; zinc-titanium sheets and strips, zinc and zinc-aluminum wires, gutter systems, zinc anodes, and casting alloys; and zinc and lead oxides, red lead exide, and zinc white products, as well as bearings, and balls and needles. In addition, Impexmetal S.A. purchases, processes, and trades in scrap accumulators and non-ferrous metals; and is involved in the lead production, as well as trade business. The company’s products are used in the automotive, constructing, installation, metallurgy and steel processing, trade, power, electrical, coin, chemical, furniture, pharmaceutical, cheramical, fodder, glassmaking, agriculture, mining, and railway engineering industries. The company was founded in 1951 and is headquartered in Warsaw, Poland. Impexmetal S.A. is a subsidiary of Boryszew S.A.

Details
Name: Impexmetal S.A.
IPX
Exchange: WSE
Founded: 1951
PLN797,155,800
189,799,000
Website: http://www.impexmetal.com.pl
Address: Impexmetal S.A.
No. 76, Jagiellonska Street,
Warsaw,
03-301,
Poland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
WSE IPX Common Bearer Shares Warsaw Stock Exchange PL PLN 25. Jun 1997
Number of employees
Current staff
Staff numbers
2,171
Impexmetal employees.
Industry
Diversified Metals and Mining
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/17 20:40
End of day share price update: 2019/06/17 00:00
Last estimates confirmation: 2019/04/26
Last earnings filing: 2019/05/10
Last earnings reported: 2019/03/31
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.