OM:SAGA B

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Executive Summary

AB Sagax (publ) operates as a property company in Sweden, Finland, France, Germany, the Netherlands, Spain, and Denmark.


Snowflake Analysis

Imperfect balance sheet and overvalued.


Similar Companies

Share Price & News

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


Latest Share Price and Events

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


Market Performance


7 Day Return

0.3%

SAGA B

2.3%

SE Real Estate

-0.1%

SE Market


1 Year Return

40.0%

SAGA B

1.2%

SE Real Estate

15.7%

SE Market

Return vs Industry: SAGA B exceeded the Swedish Real Estate industry which returned 1.2% over the past year.

Return vs Market: SAGA B exceeded the Swedish Market which returned 15.7% over the past year.


Shareholder returns

SAGA BIndustryMarket
7 Day0.3%2.3%-0.1%
30 Day0.5%-2.4%3.9%
90 Day28.7%8.9%18.3%
1 Year40.9%40.0%2.9%1.2%17.5%15.7%
3 Year154.0%145.1%45.7%36.8%26.8%13.5%
5 Year387.3%355.2%91.3%69.0%38.5%10.8%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

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

16.8x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: SAGA B (SEK132) is trading above our estimate of fair value (SEK92.01)

Significantly Below Fair Value: SAGA B is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: SAGA B is poor value based on its PE Ratio (16.8x) compared to the SE Real Estate industry average (9.3x).

PE vs Market: SAGA B is good value based on its PE Ratio (16.8x) compared to the Swedish market (22.5x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: SAGA B is overvalued based on its PB Ratio (2.9x) compared to the SE Real Estate industry average (1x).


Next Steps

Future Growth

How is AB Sagax forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

-1.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SAGA B's earnings are forecast to decline over the next 3 years (-1.2% per year).

Earnings vs Market: SAGA B's earnings are forecast to decline over the next 3 years (-1.2% per year).

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

Revenue vs Market: SAGA B's revenue (10.1% per year) is forecast to grow faster than the Swedish market (6.3% per year).

High Growth Revenue: SAGA B's revenue (10.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: SAGA B's Return on Equity is forecast to be low in 3 years time (15%).


Next Steps

Past Performance

How has AB Sagax performed over the past 5 years?

19.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: SAGA B has a large one-off gain of SEK1.5B impacting its June 30 2020 financial results.

Growing Profit Margin: SAGA B's current net profit margins are lower than last year .


Past Earnings Growth Analysis

Earnings Trend: SAGA B's earnings have grown by 19.5% per year over the past 5 years.

Accelerating Growth: SAGA B's earnings growth over the past year (5.5%) is below its 5-year average (19.5% per year).

Earnings vs Industry: SAGA B earnings growth over the past year (5.5%) underperformed the Real Estate industry 5.5%.


Return on Equity

High ROE: SAGA B's Return on Equity (16.9%) is considered low.


Next Steps

Financial Health

How is AB Sagax's financial position?


Financial Position Analysis

Short Term Liabilities: SAGA B's short term assets (SEK609.0M) do not cover its short term liabilities (SEK2.6B).

Long Term Liabilities: SAGA B's short term assets (SEK609.0M) do not cover its long term liabilities (SEK20.8B).


Debt to Equity History and Analysis

Debt Level: SAGA B's debt to equity ratio (95.4%) is considered high.

Reducing Debt: SAGA B's debt to equity ratio has reduced from 193.7% to 95.4% over the past 5 years.

Debt Coverage: SAGA B's debt is not well covered by operating cash flow (11.3%).

Interest Coverage: SAGA B's interest payments on its debt are well covered by EBIT (5.7x coverage).


Balance Sheet


Next Steps

Dividend

What is AB Sagax current dividend yield, its reliability and sustainability?

0.49%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: SAGA B's dividend (0.49%) isn’t notable compared to the bottom 25% of dividend payers in the Swedish market (1.38%).

High Dividend: SAGA B's dividend (0.49%) is low compared to the top 25% of dividend payers in the Swedish market (5.03%).


Stability and Growth of Payments

Stable Dividend: SAGA B is not paying a notable dividend for the Swedish market, therefore no need to check if payments are stable.

Growing Dividend: SAGA B is not paying a notable dividend for the Swedish market, therefore no need to check if payments are increasing.


Current Payout to Shareholders

Dividend Coverage: SAGA B is not paying a notable dividend for the Swedish market.


Future Payout to Shareholders

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


Next Steps

Management

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

6.1yrs

Average management tenure


CEO

David Mindus (48 yo)

16.58yrs

Tenure

Mr. David Mindus has been the Chief Executive Director, Managing Director and Director of AB Sagax since 2004. Mr. Mindus serves as Director of Torslanda Property Investment AB (publ) since 2019. Mr. Mindu ...


CEO Compensation Analysis

Compensation vs Market: David's total compensation ($USD0.00) is below average for companies of similar size in the Swedish market ($USD2.51M).

Compensation vs Earnings: Insufficient data to compare David's compensation with company performance.


Leadership Team

NamePositionTenureCompensationOwnership
David Mindus
CEO & Director16.58yrsno data19.68%
SEK 9.0b
Agneta Segerhammar
Chief Finance Officer2.58yrsno datano data
Björn Garat
Head of Finance & Deputy MD8.58yrsno data0.50%
SEK 227.7m
Urban Sjölund
Head of Asset Management5.58yrsno data0.013%
SEK 5.9m
Jaakko Vehanen
Chief Executive Officer of Sagax Finland Oy13.58yrsno data0.023%
SEK 10.4m
Romain Autreaux
Chief Executive Officer of Sagax - France6.58yrsno data0.012%
SEK 5.4m
Arend den Boef
Chief Executive Officer of Sagax Nederland BV3.58yrsno data0.0050%
SEK 2.3m
Vincent Spruijt
Chief Executive Officer of Sagax Nederland BV3.58yrsno data0.0047%
SEK 2.2m
Mikael Dahlberg
Group Controllerno datano datano data

6.1yrs

Average Tenure

44.5yo

Average Age

Experienced Management: SAGA B's management team is seasoned and experienced (6.1 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
David Mindus
CEO & Director16.58yrsno data19.68%
SEK 9.0b
Ulrika Werdelin
Independent Director10.58yrskr180.00k0.24%
SEK 108.3m
Philip Engelbert
Independent Director13.58yrskr180.00k1.48%
SEK 676.7m
Johan Cederlund
Independent Director10.58yrskr180.00k0.038%
SEK 17.3m
Johan Thorell
Independent Director16.58yrskr180.00k0.50%
SEK 230.6m
Staffan Salen
Chairman4.58yrskr330.00k0.44%
SEK 202.2m

12.1yrs

Average Tenure

50.5yo

Average Age

Experienced Board: SAGA B's board of directors are seasoned and experienced ( 12.1 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: SAGA B insiders have only sold shares in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 4.3%.


Top Shareholders

Company Information

AB Sagax (publ)'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: AB Sagax (publ)
  • Ticker: SAGA B
  • Exchange: OM
  • Founded: 2000
  • Industry: Real Estate Operating Companies
  • Sector: Real Estate
  • Market Cap: kr45.701b
  • Shares outstanding: 443.08m
  • Website: https://www.sagax.se

Number of Employees


Location

  • AB Sagax (publ)
  • Engelbrektsplan 1
  • Stockholm
  • Stockholm County
  • 114 34
  • Sweden

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SAGA AOM (OMX Nordic Exchange Stockholm)YesSeries A Common SharesSESEKApr 1999
EFEABST (Boerse-Stuttgart)YesSeries A Common SharesDEEURApr 1999
SAGAAsBATS-CHIXE (BATS 'Chi-X Europe')YesSeries A Common SharesGBSEKApr 1999
SAGA PREFOM (OMX Nordic Exchange Stockholm)NPV PRFSESEKFeb 2006
0HDHLSE (London Stock Exchange)NPV PRFGBSEKFeb 2006
SAGAPsBATS-CHIXE (BATS 'Chi-X Europe')NPV PRFGBSEKFeb 2006
SAGA BOM (OMX Nordic Exchange Stockholm)Series B Common SharesSESEKApr 2013
0QDXLSE (London Stock Exchange)Series B Common SharesGBSEKApr 2013
SAGABsBATS-CHIXE (BATS 'Chi-X Europe')Series B Common SharesGBSEKApr 2013
SAGA DOM (OMX Nordic Exchange Stockholm)Series D Common SharesSESEKNov 2016

Biography

AB Sagax (publ) operates as a property company in Sweden, Finland, France, Germany, the Netherlands, Spain, and Denmark. The company invests in commercial properties primarily in the warehouse and light in ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/08/04 22:04
End of Day Share Price2020/08/04 00:00
Earnings2020/06/30
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.