WSE:BDZ

Stock Analysis Report

Elektrocieplownia Bedzin

Executive Summary

Elektrocieplownia Bedzin S.A., through its subsidiaries, produces heat and electricity in Poland.

Snowflake

Fundamentals

Fair value with worrying balance sheet.


Similar Companies

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

-5.7%

BDZ

0.03%

PL Electric Utilities

1.9%

PL Market


1 Year Return

-40.0%

BDZ

-13.9%

PL Electric Utilities

0.2%

PL Market

Return vs Industry: BDZ underperformed the Polish Electric Utilities industry which returned -13.9% over the past year.

Return vs Market: BDZ underperformed the Polish Market which returned 0.2% over the past year.


Shareholder returns

BDZIndustryMarket
7 Day-5.7%0.03%1.9%
30 Day-11.0%-0.2%0.5%
90 Day-27.4%-6.8%-5.7%
1 Year-40.0%-40.0%-13.8%-13.9%3.3%0.2%
3 Year-36.4%-36.4%-20.8%-21.7%12.3%4.3%
5 Year37.0%37.0%-59.6%-63.0%0.2%-12.0%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is Elektrocieplownia Bedzin 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: BDZ (PLN14.15) is trading below our estimate of fair value (PLN398.93)

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


Price To Earnings Ratio

PE vs Industry: BDZ is unprofitable, so we can't compare its PE Ratio to the Electric Utilities industry average.

PE vs Market: BDZ is unprofitable, so we can't compare its PE Ratio to the Polish market.


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: BDZ is good value based on its PB Ratio (0.3x) compared to the PL Electric Utilities industry average (0.3x).


Next Steps

Future Growth

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

22.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: BDZ is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: BDZ is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: BDZ is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: Insufficient data to determine if BDZ's revenue is forecast to grow faster than the Polish market.

High Growth Revenue: Insufficient data to determine if BDZ's revenue is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if BDZ's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Elektrocieplownia Bedzin performed over the past 5 years?

-20.7%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: BDZ is unprofitable, and losses have increased over the past 5 years at a rate of -20.7% per year.

Accelerating Growth: Unable to compare BDZ's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: BDZ is unprofitable, making it difficult to compare its past year earnings growth to the Electric Utilities industry (-19.5%).


Return on Equity

High ROE: BDZ has a negative Return on Equity (-5.78%), as it is currently unprofitable.


Return on Assets

ROA vs Industry: BDZ is currently unprofitable, so its Return on Assets is negative.


Return on Capital Employed

ROCE Improving: BDZ is currently unprofitable, so its Return on Capital Employed is negative.


Next Steps

Financial Health

How is Elektrocieplownia Bedzin's financial position?


Financial Position Analysis

Short Term Liabilities: BDZ's short term assets (PLN179.2M) do not cover its short term liabilities (PLN187.1M)

Long Term Liabilities: BDZ's short term assets (179.2M) do not cover its long term liabilities (234.2M)


Debt to Equity History and Analysis

Debt Level: BDZ's debt to equity ratio (204.1%) is considered high

Reducing Debt: BDZ's debt to equity ratio has increased from 0% to 204.1% over the past 5 years.

Debt Coverage: BDZ's debt is well covered by operating cash flow (42.8%).

Interest Coverage: BDZ is unprofitable, therefore interest payments are not well covered by earnings.


Balance Sheet

Inventory Level: BDZ has a high level of physical assets or inventory.

Debt Coverage by Assets: BDZ's debt is not covered by short term assets (assets are 0.5x debt).


Next Steps

Dividend

What is Elektrocieplownia Bedzin's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

company0%marketbottom25%2.7%markettop25%7.2%industryaverage4.0%forecastin3Yearsn/a

Current dividend yield vs market & industry


Stability and Growth of Payments

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

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

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

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


Current Payout to Shareholders

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


Future Payout to Shareholders

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


Next Steps

Management

What is the CEO of Elektrocieplownia Bedzin's salary, the management and board of directors tenure and is there insider trading?

14.8yrs

Average management tenure


CEO

Krzysztof Kwiatkowski (65yo)

6.8yrs

Tenure

0

Krzysztof Kwiatkowski has been President of the Management Board of Elektrocieplownia Bedzin S.A since 2013. Krzysztof Kwiatkowski has been the President of the Management Board of Towarzystwo Finansowo-Le ...


CEO Compensation Analysis

Compensation vs. Market: Krzysztof's total compensation ($USD0.00) is too low to compare against companies of similar size in the Polish market ($USD0.00).

Compensation vs Earnings: Krzysztof's compensation has been consistent with company performance over the past year.


Management Age and Tenure

14.8yrs

Average Tenure

65yo

Average Age

Experienced Management: BDZ's management team is seasoned and experienced (14.8 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown


Management Team

  • Krzysztof Kwiatkowski (65yo)

    President of the Management Board

    • Tenure: 6.8yrs
  • Zbigniew Robak

    Assistant Chairman

    • Tenure: 0yrs
    • Compensation: zł3.00k
  • Sabina Apel (50yo)

    Finance Director

    • Tenure: 0yrs
    • Compensation: zł521.00k
  • Józef Kijak (68yo)

    Executive Director

    • Tenure: 20.8yrs
  • Jolanta Dabrowska-Macha

    Chief Accountant

    • Tenure: 14.8yrs
  • Adam Andrzejewski

    Secretary to the Supervisory Board

    • Tenure: 0yrs

Board Members

  • Janusz Niedzwiecki

    President of the Supervisory Board

    • Tenure: 0yrs
  • Wieslaw Glanowski

    Member of the Supervisory Board

    • Tenure: 0yrs
  • Waldemar Organista

    Deputy Chairman of the Supervisory Board

    • Tenure: 0yrs
  • Wojciech Sobczak

    Member of Supervisory Board

    • Tenure: 0yrs
  • Miroslaw Len

    Member of the Supervisory Board

    • Tenure: 0yrs

Company Information

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


Key Information

  • Name: Elektrocieplownia Bedzin S.A.
  • Ticker: BDZ
  • Exchange: WSE
  • Founded:
  • Industry: Electric Utilities
  • Sector: Utilities
  • Market Cap: zł42.333m
  • Shares outstanding: 2.99m
  • Website: https://www.ecbedzin.pl

Location

  • Elektrocieplownia Bedzin S.A.
  • ul. Boleslawa Krzywoustego 7
  • Poznan
  • 61-144
  • Poland

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BDZWSE (Warsaw Stock Exchange)YesBearer SharesPLPLNJan 1999

Biography

Elektrocieplownia Bedzin S.A., through its subsidiaries, produces heat and electricity in Poland. The company operates through two segments, Energy and Financial Services. It produces electricity and heat  ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/22 20:40
End of Day Share Price2019/10/22 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.