LJSE:CICG

Stock Analysis Report

Cinkarna Celje d. d

Executive Summary

Cinkarna Celje, d. d., a chemical-processing company, produces and markets titanium dioxide pigments in Slovenia.


Snowflake Analysis

Flawless balance sheet and undervalued.

Share Price & News

How has Cinkarna Celje d. d's share price performed over time and what events caused price changes?


Latest Share Price and Events

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


Market Performance


7 Day Return

-0.8%

CICG

1.8%

SI Chemicals

-1.0%

SI Market


1 Year Return

-38.3%

CICG

-17.1%

SI Chemicals

-17.9%

SI Market

Return vs Industry: CICG underperformed the SI Chemicals industry which returned -17.1% over the past year.

Return vs Market: CICG underperformed the SI Market which returned -17.9% over the past year.


Shareholder returns

CICGIndustryMarket
7 Day-0.8%1.8%-1.0%
30 Day-25.0%-10.2%-16.9%
90 Day-31.4%-20.0%-23.4%
1 Year-28.9%-38.3%-14.6%-17.1%-12.4%-17.9%
3 Year-4.0%-28.4%-10.5%-18.6%8.6%-7.6%
5 Year1.5%-31.7%-3.7%-17.7%8.6%-16.9%

Price Volatility Vs. Market

How volatile is Cinkarna Celje d. d's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Cinkarna Celje d. d 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: CICG (€129) is trading below our estimate of fair value (€352.74)

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


Price To Earnings Ratio

PE vs Industry: CICG is good value based on its PE Ratio (5.9x) compared to the Chemicals industry average (12.9x).

PE vs Market: CICG is good value based on its PE Ratio (5.9x) compared to the SI market (6x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: CICG is good value based on its PB Ratio (0.6x) compared to the XE Chemicals industry average (1.2x).


Next Steps

Future Growth

How is Cinkarna Celje d. d forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

11.9%

Forecasted Materials industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Cinkarna Celje d. d has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has Cinkarna Celje d. d performed over the past 5 years?

26.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CICG has high quality earnings.

Growing Profit Margin: CICG's current net profit margins (10.9%) are lower than last year (19.2%).


Past Earnings Growth Analysis

Earnings Trend: CICG's earnings have grown significantly by 26% per year over the past 5 years.

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

Earnings vs Industry: CICG had negative earnings growth (-53.1%) over the past year, making it difficult to compare to the Chemicals industry average (1.6%).


Return on Equity

High ROE: CICG's Return on Equity (10.9%) is considered low.


Next Steps

Financial Health

How is Cinkarna Celje d. d's financial position?


Financial Position Analysis

Short Term Liabilities: CICG's short term assets (€96.7M) exceed its short term liabilities (€14.2M).

Long Term Liabilities: CICG's short term assets (€96.7M) exceed its long term liabilities (€27.6M).


Debt to Equity History and Analysis

Debt Level: CICG is debt free.

Reducing Debt: CICG has no debt compared to 5 years ago when its debt to equity ratio was 1.6%.

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

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


Balance Sheet

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

Debt Coverage by Assets: Insufficient data to determine if CICG's debt is covered by short term assets.


Next Steps

Dividend

What is Cinkarna Celje d. d's current dividend yield, its reliability and sustainability?

21.91%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: CICG's dividend (21.91%) is higher than the bottom 25% of dividend payers in the SI market (4.88%).

High Dividend: CICG's dividend (21.91%) is in the top 25% of dividend payers in the SI market (10.53%)


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (129.4%), CICG's dividend payments are not well 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?

2.5yrs

Average board tenure


CEO

Tomaz Bencina

no data

Tenure

€351,770

Compensation

Mr. Tomaz Bencina, BSc (Metallurgy) and BSc (Economics) serves as the President of Management Board, Member of Management Board and General Manager at Cinkarna Celje, d. d. 


CEO Compensation Analysis

Compensation vs Market: Tomaz's total compensation ($USD379.51K) is above average for companies of similar size in the SI market ($USD216.41K).

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


Board Members

NamePositionTenureCompensationOwnership
Aleš Skok
Member of Supervisory Board2.5yrs€16.48kno data
Mario Gobbo
Supervisory Board Member0.25yrno datano data
Dušan Mestinšek
Member of Supervisory Boardno data€17.11kno data
Dejan Rajbar
Member of Supervisory Board4.67yrs€19.44kno data
Aleš Stevanovic
Member of Supervisory Board4.67yrs€15.52kno data
Luka Gaberšcik
Member of Supervisory Board1.25yrsno datano data

2.5yrs

Average Tenure

Experienced Board: CICG'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

Cinkarna Celje, d. d.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Cinkarna Celje, d. d.
  • Ticker: CICG
  • Exchange: LJSE
  • Founded: 1873
  • Industry: Commodity Chemicals
  • Sector: Materials
  • Market Cap: €102.694m
  • Shares outstanding: 796.08k
  • Website: https://www.cinkarna.si

Number of Employees


Location

  • Cinkarna Celje, d. d.
  • Kidriceva 26
  • Celje
  • 3001
  • Slovenia

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CICGLJSE (Ljubljana Stock Exchange)YesCommon SharesSIEURDec 1998

Biography

Cinkarna Celje, d. d., a chemical-processing company, produces and markets titanium dioxide pigments in Slovenia. It offers titanium dioxide; ultrafine titanium dioxide; TiO2 intermediates, such as titanyl sulphate, metatitanium acid, and sodium titanate; sulphuric acid; TiO2 co-products, including calcium sulphate dehydrate; zinc wires and alloys, as well as zinc anodes and bars; recycled zinc; flexo, gravure, and offset printing inks; powder coatings; and CC MASTER - masterbatch, an environmentally friendly color concentrate or a concentrate of additives based on polyethylene, polypropylene, polystyrene, and ethylene-vinyl acetate. The company also provides anticorrosion coatings; tile adhesives and grouts; mortars, plasters, and screeds; products for facades and water insulation; levelling compounds; repair mortars; and additives for cement based mixtures. In addition, it offers copper and sulphur fungicides, copper oxychloride - inorganic salt, substrates, fertilizers, phyto-pharmaceuticals, and valves and elements, as well as provides PTFE products and rubber coatings. Cinkarna Celje, d. d. also exports its products. The company was founded in 1873 and is headquartered in Celje, Slovenia. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/05 22:22
End of Day Share Price2020/04/03 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.