WSE:SFG

Stock Analysis Report

AS Silvano Fashion Group

Executive Summary

AS Silvano Fashion Group designs, manufactures, distributes, and retails women’s lingerie.


Snowflake Analysis

Flawless balance sheet, good value and pays a dividend.

Share Price & News

How has AS Silvano Fashion Group's share price performed over time and what events caused price changes?


Latest Share Price and Events

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


Market Performance


7 Day Return

4.3%

SFG

1.8%

PL Specialty Retail

5.1%

PL Market


1 Year Return

-37.5%

SFG

-40.4%

PL Specialty Retail

-30.0%

PL Market

Return vs Industry: SFG exceeded the Polish Specialty Retail industry which returned -41.9% over the past year.

Return vs Market: SFG underperformed the Polish Market which returned -33.2% over the past year.


Shareholder returns

SFGIndustryMarket
7 Day4.3%1.8%5.1%
30 Day-23.8%-24.2%-9.5%
90 Day-25.2%-29.7%-23.4%
1 Year-29.5%-37.5%-39.1%-40.4%-28.0%-30.0%
3 Year-14.1%-44.0%-49.7%-56.0%-28.3%-33.4%
5 Year101.0%9.4%-63.2%-70.6%-26.0%-35.5%

Price Volatility Vs. Market

How volatile is AS Silvano Fashion Group's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is AS Silvano Fashion Group 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: SFG (PLN6.7) is trading below our estimate of fair value (PLN20.56)

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


Price To Earnings Ratio

PE vs Industry: SFG is good value based on its PE Ratio (4.7x) compared to the Specialty Retail industry average (6.6x).

PE vs Market: SFG is good value based on its PE Ratio (4.7x) compared to the Polish market (9.3x).


Price to Earnings Growth Ratio

PEG Ratio: SFG's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: SFG is overvalued based on its PB Ratio (1.9x) compared to the PL Specialty Retail industry average (1x).


Next Steps

Future Growth

How is AS Silvano Fashion Group forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

-14.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SFG's earnings are forecast to decline over the next 3 years (-14.1% per year).

Earnings vs Market: SFG's earnings are forecast to decline over the next 3 years (-14.1% per year).

High Growth Earnings: SFG's earnings are forecast to decline over the next 3 years.

Revenue vs Market: SFG's revenue (0.8% per year) is forecast to grow slower than the Polish market (4.5% per year).

High Growth Revenue: SFG's revenue (0.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: SFG's Return on Equity is forecast to be high in 3 years time (34.5%)


Next Steps

Past Performance

How has AS Silvano Fashion Group performed over the past 5 years?

5.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: SFG has high quality earnings.

Growing Profit Margin: SFG's current net profit margins (18.7%) are higher than last year (17.4%).


Past Earnings Growth Analysis

Earnings Trend: SFG's earnings have grown by 5.5% per year over the past 5 years.

Accelerating Growth: SFG's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: SFG had negative earnings growth (-1.2%) over the past year, making it difficult to compare to the Specialty Retail industry average (2.9%).


Return on Equity

High ROE: SFG's Return on Equity (37.5%) is considered high.


Next Steps

Financial Health

How is AS Silvano Fashion Group's financial position?


Financial Position Analysis

Short Term Liabilities: SFG's short term assets (€27.1M) exceed its short term liabilities (€10.2M).

Long Term Liabilities: SFG's short term assets (€27.1M) exceed its long term liabilities (€6.4M).


Debt to Equity History and Analysis

Debt Level: SFG is debt free.

Reducing Debt: SFG had no debt 5 years ago.

Debt Coverage: SFG has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: SFG has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet


Next Steps

Dividend

What is AS Silvano Fashion Group's current dividend yield, its reliability and sustainability?

12.90%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: SFG's dividend (14.29%) is higher than the bottom 25% of dividend payers in the Polish market (3.11%).

High Dividend: SFG's dividend (14.29%) is in the top 25% of dividend payers in the Polish market (8.88%)


Stability and Growth of Payments

Stable Dividend: SFG's dividend payments have been volatile in the past 10 years.

Growing Dividend: SFG's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (67.5%), SFG's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

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

6.8yrs

Average board tenure


CEO

AS Silvano Fashion Group has no CEO, or we have no data on them.


Board Members

NamePositionTenureCompensationOwnership
Stephan Balkin
Member of Supervisory Boardno datano data22.22% 56.7m
Risto Mägi
Member of Supervisory Boardno datano datano data
Toomas Tool
Chairman of Supervisory Board7.42yrsno data1.72% 4.4m
Mart Mutso
Member of Supervisory Board6.75yrsno datano data
Triin Nellis
Member of Supervisory Board0.92yrno datano data

6.8yrs

Average Tenure

Experienced Board: SFG's board of directors are considered experienced (6.8 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

AS Silvano Fashion Group's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: AS Silvano Fashion Group
  • Ticker: SFG
  • Exchange: WSE
  • Founded: 1908
  • Industry: Apparel Retail
  • Sector: Retail
  • Market Cap: €55.800m
  • Listing Market Cap: €254.971m
  • Shares outstanding: 36.00m
  • Website: https://www.silvanofashion.com

Number of Employees


Location

  • AS Silvano Fashion Group
  • Tulika 15/17
  • Tallinn
  • 10613
  • Estonia

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SFG1TTLSE (OMX Nordic Exchange Tallinn)YesClass A SharesEEEUROct 2006
SFGWSE (Warsaw Stock Exchange)YesClass A SharesPLPLNOct 2006
0FZDLSE (London Stock Exchange)YesClass A SharesGBEUROct 2006
FQEDB (Deutsche Boerse AG)YesClass A SharesDEEUROct 2006

Biography

AS Silvano Fashion Group designs, manufactures, distributes, and retails women’s lingerie. The company sells its products under the Milavitsa, Lauma Lingerie, Alisee, Aveline, Laumelle, and Hidalgo brands through wholesales channel and franchised sales, as well as through Milavitsa and Lauma Lingerie retail stores. It also offers logistics services. The company owns 680 branded stores, including 631 Milavitsa and 49 Lauma Lingerie stores, which include 594 franchise and 86 Group own operated retail stores in Russia, Belarus, Ukraine, the Baltics, and internationally. AS Silvano Fashion Group was founded in 1908 and is based in Tallinn, Estonia. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/07 21:37
End of Day Share Price2020/04/07 00:00
Earnings2019/12/31
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.