MISX:UPRO

Stock Analysis Report

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Executive Summary

Public Joint-Stock Company Unipro engages in the generation and sale of electricity and heat in Russia.


Snowflake Analysis

Flawless balance sheet with acceptable track record.


Similar Companies

Share Price & News

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


Latest Share Price and Events

Stable Share Price: UPRO has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

1.5%

UPRO

1.1%

RU Renewable Energy

2.8%

RU Market


1 Year Return

11.1%

UPRO

19.4%

RU Renewable Energy

0.6%

RU Market

Return vs Industry: UPRO underperformed the Russian Renewable Energy industry which returned 19.4% over the past year.

Return vs Market: UPRO exceeded the Russian Market which returned 0.1% over the past year.


Shareholder returns

UPROIndustryMarket
7 Day1.5%1.1%2.8%
30 Day-1.0%2.5%6.3%
90 Day-4.5%0.4%1.9%
1 Year20.9%11.1%28.6%19.4%7.2%0.6%
3 Year37.7%6.8%44.7%18.2%65.5%39.3%
5 Year54.7%-3.0%90.8%68.0%120.1%71.7%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is Unipro undervalued compared to its fair value and its price relative to the market?

0.7%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: UPRO (RUB2.78) is trading below our estimate of fair value (RUB2.8)

Significantly Below Fair Value: UPRO is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: UPRO is good value based on its PE Ratio (10.1x) compared to the Renewable Energy industry average (27x).

PE vs Market: UPRO is poor value based on its PE Ratio (10.1x) compared to the Russian market (8.2x).


Price to Earnings Growth Ratio

PEG Ratio: UPRO is poor value based on its PEG Ratio (1.4x)


Price to Book Ratio

PB vs Industry: UPRO is overvalued based on its PB Ratio (1.4x) compared to the RU Renewable Energy industry average (1.1x).


Next Steps

Future Growth

How is Unipro forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

7.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: UPRO's forecast earnings growth (7.4% per year) is below the savings rate (8.3%).

Earnings vs Market: UPRO's earnings (7.4% per year) are forecast to grow slower than the Russian market (15.6% per year).

High Growth Earnings: UPRO's earnings are forecast to grow, but not significantly.

Revenue vs Market: UPRO's revenue (4.7% per year) is forecast to grow slower than the Russian market (7% per year).

High Growth Revenue: UPRO's revenue (4.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: UPRO's Return on Equity is forecast to be low in 3 years time (17.2%).


Next Steps

Past Performance

How has Unipro performed over the past 5 years?

10.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: UPRO has high quality earnings.

Growing Profit Margin: UPRO's current net profit margins (22.4%) are higher than last year (22.1%).


Past Earnings Growth Analysis

Earnings Trend: UPRO's earnings have grown by 10.6% per year over the past 5 years.

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

Earnings vs Industry: UPRO had negative earnings growth (-2%) over the past year, making it difficult to compare to the Renewable Energy industry average (21.9%).


Return on Equity

High ROE: UPRO's Return on Equity (13.8%) is considered low.


Next Steps

Financial Health

How is Unipro's financial position?


Financial Position Analysis

Short Term Liabilities: UPRO's short term assets (RUB18.2B) exceed its short term liabilities (RUB8.7B).

Long Term Liabilities: UPRO's short term assets (RUB18.2B) exceed its long term liabilities (RUB6.2B).


Debt to Equity History and Analysis

Debt Level: UPRO is debt free.

Reducing Debt: UPRO had no debt 5 years ago.

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

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


Balance Sheet


Next Steps

Dividend

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

7.99%

Current Dividend Yield


Upcoming Dividend Payment


Dividend Yield vs Market

Notable Dividend: UPRO's dividend (7.99%) is higher than the bottom 25% of dividend payers in the Russian market (3.71%).

High Dividend: UPRO's dividend (7.99%) is low compared to the top 25% of dividend payers in the Russian market (9.07%).


Stability and Growth of Payments

Stable Dividend: UPRO has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: UPRO's dividend payments have increased, but the company has only paid a dividend for 8 years.


Current Payout to Shareholders

Dividend Coverage: At its current payout ratio (80.4%), UPRO's payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: UPRO's dividends in 3 years are not forecast to be well covered by earnings (92.7% payout ratio).


Next Steps

Management

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

7.7yrs

Average management tenure


CEO

Maxim Shirokov (53yo)

7.92yrs

Tenure

Mr. Maxim Gennadyevich Shirokov has been the Chief Executive Officer, Director General and Member of Management Board at Public Joint-Stock Company Unipro (also known as, Open Joint-Stock Company E.ON Russ ...


Leadership Team

NamePositionTenureCompensationOwnership
Maxim Shirokov
Chairman of Management Board7.92yrsno datano data
Ulf Backmeyer
CFO, Deputy Chairman of Management Board and Deputy CEO for Finance & Economicsno datano datano data
Igor Popov
Deputy General Director for Production & Member of Management Board7.83yrsno datano data
Anna Koblova
Chief Accountant0.75yrno datano data
Galina Shcheglova
Head of IR Deptno datano datano data
Elena Gabdulkhaeva
Director of Corporate Governanceno datano datano data
Dmitry Ermilichev
Director of Public Relations & Government Relations7.67yrsno datano data
Natalya Mashistova
Human Resource Director6.67yrsno datano data
Vasilieva Alexandrovna
Deputy Head of the Personnel Management Department - Corporate Center of RAO UESno datano datano data
Dmitry Fedorchuk
Head of the Corporate Management Department of Business Unit 2 of Rao Uesno datano datano data

7.7yrs

Average Tenure

50yo

Average Age

Experienced Management: UPRO's management team is seasoned and experienced (7.7 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Maxim Shirokov
Chairman of Management Board7.92yrsno datano data
Anna Belova
Independent Deputy Chairman of the Board0.50yrno datano data
Andreas Schierenbeck
Chairman of the Board0.50yrno datano data
Reiner Hartmann
Director12yrsno datano data
Gunter Rümmler
Director3yrsno datano data
Patrick Wolff
Director4yrsno datano data
Oleg Vyugin
Independent Director2.5yrsno datano data
Georgiy Abdushelishvili
Independent Director1yrno datano data
David Bryson
Director1.42yrsno datano data

2.5yrs

Average Tenure

57yo

Average Age

Experienced Board: UPRO's board of directors are not considered experienced ( 2.5 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

Public Joint-Stock Company Unipro's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Public Joint-Stock Company Unipro
  • Ticker: UPRO
  • Exchange: MISX
  • Founded: 2005
  • Industry: Independent Power Producers and Energy Traders
  • Sector: Utilities
  • Market Cap: ₽175.149b
  • Shares outstanding: 63.05b
  • Website: https://www.unipro.energy

Number of Employees


Location

  • Public Joint-Stock Company Unipro
  • 10, Building B
  • 23th Floor
  • Moscow
  • 123112
  • Russia

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
UPROMISX (Micex - Rts)YesOrdinary SharesRURUBAug 2006

Biography

Public Joint-Stock Company Unipro engages in the generation and sale of electricity and heat in Russia. It operates five power plants with a total capacity of 11,245.1 megawatts. The company sells its electricity and capacity through wholesale electricity and capacity markets to retail companies. Public Joint-Stock Company Unipro is also involved in the provision of engineering and fund management activities. The company was formerly known as Open Joint-Stock Company E.ON Russia and changed its name to Public Joint-Stock Company Unipro in June 2016. The company was founded in 2005 and is headquartered in Moscow, Russia. Public Joint-Stock Company Unipro is a subsidiary of Uniper SE. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/06/05 21:43
End of Day Share Price2020/06/05 00:00
Earnings2020/03/31
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.