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Royal Unibrew

DB:0R1
Snowflake Description

Solid track record second-rate dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
0R1
DB
DKK28B
Market Cap
  1. Home
  2. DE
  3. Food, Beverage & Tobacco
Company description

Royal Unibrew A/S produces, markets, sells, and distributes beer, malt, soft drinks, ciders, and long drinks. The last earnings update was 46 days ago. More info.


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0R1 Share Price and Events
7 Day Returns
0.6%
DB:0R1
-0.2%
DE Beverage
2.5%
DE Market
1 Year Returns
-
DB:0R1
4.9%
DE Beverage
2.6%
DE Market
0R1 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Royal Unibrew (0R1) 0.6% 1.4% 14.5% - - -
DE Beverage -0.2% 2.3% -1.1% 4.9% 24.3% 68.1%
DE Market 2.5% 0.2% 1% 2.6% 7.8% 23.7%
1 Year Return vs Industry and Market
  • No trading data on 0R1.
  • No trading data on 0R1.
Price Volatility
0R1
Industry
5yr Volatility vs Market

0R1 Value

 Is Royal Unibrew undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Royal Unibrew to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Royal Unibrew.

DB:0R1 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 5 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 5%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:0R1
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Beverage Unlevered Beta Simply Wall St/ S&P Global 0.51
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.508 (1 + (1- 22%) (11.2%))
0.7
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (0.8 * 5.96%)
5%

Discounted Cash Flow Calculation for DB:0R1 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Royal Unibrew is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

DB:0R1 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (DKK, Millions) Source Present Value
Discounted (@ 5%)
2020 1,168.16 Analyst x5 1,112.58
2021 1,221.16 Analyst x5 1,107.71
2022 1,280.00 Analyst x1 1,105.84
2023 1,328.00 Analyst x1 1,092.72
2024 1,360.41 Est @ 2.44% 1,066.12
2025 1,384.58 Est @ 1.78% 1,033.43
2026 1,402.74 Est @ 1.31% 997.17
2027 1,416.59 Est @ 0.99% 959.09
2028 1,427.34 Est @ 0.76% 920.39
2029 1,435.90 Est @ 0.6% 881.86
Present value of next 10 years cash flows DKK10,276.00
DB:0R1 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= DKK1,435.90 × (1 + 0.23%) ÷ (5% – 0.23%)
DKK30,184.09
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= DKK30,184.09 ÷ (1 + 5%)10
DKK18,537.47
DB:0R1 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= DKK10,276.00 + DKK18,537.47
DKK28,813.47
Equity Value per Share
(DKK)
= Total value / Shares Outstanding
= DKK28,813.47 / 49.30
DKK584.4
DB:0R1 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:0R1 represents 0.13293x of CPSE:RBREW
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.13293x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (DKK) x Listing Adjustment Factor
= DKK 584.40 x 0.13293
€77.68
Value per share (EUR) From above. €77.68
Current discount Discount to share price of €74.36
= -1 x (€74.36 - €77.68) / €77.68
4.3%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Royal Unibrew is available for.
Intrinsic value
4%
Share price is €74.36 vs Future cash flow value of €77.68
Current Discount Checks
For Royal Unibrew to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Royal Unibrew's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Royal Unibrew's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Royal Unibrew's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Royal Unibrew's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:0R1 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in DKK DKK21.63
CPSE:RBREW Share Price ** CPSE (2019-10-11) in DKK DKK559.4
Germany Beverage Industry PE Ratio Median Figure of 7 Publicly-Listed Beverage Companies 27.57x
Germany Market PE Ratio Median Figure of 417 Publicly-Listed Companies 19.72x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Royal Unibrew.

DB:0R1 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= CPSE:RBREW Share Price ÷ EPS (both in DKK)

= 559.4 ÷ 21.63

25.87x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Royal Unibrew is good value based on earnings compared to the DE Beverage industry average.
  • Royal Unibrew is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does Royal Unibrew's expected growth come at a high price?
Raw Data
DB:0R1 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 25.87x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
4.2%per year
Europe Beverage Industry PEG Ratio Median Figure of 31 Publicly-Listed Beverage Companies 2.84x
Germany Market PEG Ratio Median Figure of 264 Publicly-Listed Companies 1.38x

*Line of best fit is calculated by linear regression .

DB:0R1 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 25.87x ÷ 4.2%

6.15x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Royal Unibrew is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Royal Unibrew's assets?
Raw Data
DB:0R1 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in DKK DKK53.32
CPSE:RBREW Share Price * CPSE (2019-10-11) in DKK DKK559.4
Germany Beverage Industry PB Ratio Median Figure of 8 Publicly-Listed Beverage Companies 1.56x
Germany Market PB Ratio Median Figure of 597 Publicly-Listed Companies 1.74x
DB:0R1 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= CPSE:RBREW Share Price ÷ Book Value per Share (both in DKK)

= 559.4 ÷ 53.32

10.49x

* Primary Listing of Royal Unibrew.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Royal Unibrew is overvalued based on assets compared to the DE Beverage industry average.
X
Value checks
We assess Royal Unibrew's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Beverage industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Beverage industry average (and greater than 0)? (1 check)
  5. Royal Unibrew has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

0R1 Future Performance

 How is Royal Unibrew expected to perform in the next 1 to 3 years based on estimates from 5 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
4.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Royal Unibrew expected to grow at an attractive rate?
  • Royal Unibrew's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Royal Unibrew's earnings growth is positive but not above the Germany market average.
  • Royal Unibrew's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:0R1 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:0R1 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 4.2%
DB:0R1 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 2.7%
Germany Beverage Industry Earnings Growth Rate Market Cap Weighted Average -0.7%
Europe Beverage Industry Revenue Growth Rate Market Cap Weighted Average 4.5%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.8%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:0R1 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in DKK Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:0R1 Future Estimates Data
Date (Data in DKK Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 8,502 1,665 1,300 2
2022-12-31 8,358 1,611 1,253 2
2021-12-31 8,177 1,569 1,238 5
2020-12-31 7,931 1,497 1,179 5
2019-12-31 7,683 1,153 1,119 5
2019-10-12
DB:0R1 Past Financials Data
Date (Data in DKK Millions) Revenue Cash Flow Net Income *
2019-06-30 7,571 1,229 1,081
2019-03-31 7,368 1,363 1,052
2018-12-31 7,298 1,214 1,041
2018-09-30 7,139 1,516 1,015
2018-06-30 6,720 1,270 942
2018-03-31 6,482 943 862
2017-12-31 6,384 1,168 831
2017-09-30 6,335 1,078 811
2017-06-30 6,363 1,170 810
2017-03-31 6,344 1,082 796
2016-12-31 6,340 985 784
2016-09-30 6,297 1,113 764

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Royal Unibrew's earnings are expected to grow by 4.2% yearly, however this is not considered high growth (20% yearly).
  • Royal Unibrew's revenue is expected to grow by 2.7% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:0R1 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below

All data from Royal Unibrew Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:0R1 Future Estimates Data
Date (Data in DKK Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 27.54 27.54 27.54 1.00
2022-12-31 26.24 26.24 26.24 1.00
2021-12-31 25.82 26.74 24.97 5.00
2020-12-31 24.15 24.58 23.75 5.00
2019-12-31 22.54 23.02 22.20 5.00
2019-10-12
DB:0R1 Past Financials Data
Date (Data in DKK Millions) EPS *
2019-06-30 21.63
2019-03-31 20.98
2018-12-31 20.62
2018-09-30 20.03
2018-06-30 18.37
2018-03-31 16.75
2017-12-31 15.99
2017-09-30 15.48
2017-06-30 15.42
2017-03-31 15.09
2016-12-31 14.71
2016-09-30 14.27

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Royal Unibrew is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Royal Unibrew's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Royal Unibrew has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

0R1 Past Performance

  How has Royal Unibrew performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Royal Unibrew's growth in the last year to its industry (Beverage).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Royal Unibrew's year on year earnings growth rate has been positive over the past 5 years.
  • Royal Unibrew's 1-year earnings growth exceeds its 5-year average (14.7% vs 11.4%)
  • Royal Unibrew's earnings growth has exceeded the DE Beverage industry average in the past year (14.7% vs -2%).
Earnings and Revenue History
Royal Unibrew's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Royal Unibrew Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:0R1 Past Revenue, Cash Flow and Net Income Data
Date (Data in DKK Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 7,571.09 1,080.94 2,584.50
2019-03-31 7,367.50 1,052.27 2,506.98
2018-12-31 7,298.09 1,040.92 2,481.60
2018-09-30 7,139.26 1,014.93 2,419.81
2018-06-30 6,719.66 942.19 2,277.92
2018-03-31 6,481.76 862.50 2,238.23
2017-12-31 6,384.39 830.66 2,221.47
2017-09-30 6,334.76 810.53 2,238.45
2017-06-30 6,362.73 809.68 2,249.34
2017-03-31 6,344.39 795.52 2,265.14
2016-12-31 6,340.38 783.75 2,286.54
2016-09-30 6,296.99 764.39 2,296.53
2016-06-30 6,269.27 753.95 2,308.16
2016-03-31 6,092.13 717.89 2,274.26
2015-12-31 6,032.12 711.43 2,252.40
2015-09-30 5,960.11 673.78 2,241.11
2015-06-30 5,987.03 680.20 2,247.64
2015-03-31 6,079.58 702.81 2,260.72
2014-12-31 6,055.90 624.17 2,290.59
2014-09-30 6,130.73 662.06 2,323.52
2014-06-30 5,680.32 562.00 2,173.94
2014-03-31 4,996.42 451.66 1,944.30
2013-12-31 4,481.00 479.58 1,694.62
2013-09-30 3,815.24 428.43 1,395.42
2013-06-30 3,489.79 398.56 1,253.66
2013-03-31 3,428.75 378.62 1,228.75
2012-12-31 3,430.01 371.19 1,235.59

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Whilst Royal Unibrew made outstanding use of shareholders’ funds last year (Return on Equity greater than 40%), this is metric is skewed due to its high level of debt.
  • Royal Unibrew used its assets more efficiently than the DE Beverage industry average last year based on Return on Assets.
  • Royal Unibrew has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Royal Unibrew's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Beverage industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Royal Unibrew has a total score of 5/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

0R1 Health

 How is Royal Unibrew's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Royal Unibrew's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Royal Unibrew's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Royal Unibrew's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Royal Unibrew's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.6x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Royal Unibrew Company Filings, last reported 3 months ago.

DB:0R1 Past Debt and Equity Data
Date (Data in DKK Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 2,662.73 3,089.36 89.14
2019-03-31 3,000.58 3,186.16 139.46
2018-12-31 2,908.16 2,441.89 145.15
2018-09-30 2,776.49 2,536.65 139.61
2018-06-30 2,554.29 2,050.43 94.40
2018-03-31 2,790.78 2,297.03 72.62
2017-12-31 2,814.15 1,659.60 684.63
2017-09-30 2,799.93 1,072.77 10.62
2017-06-30 2,636.53 1,172.65 15.04
2017-03-31 2,935.06 1,172.34 30.49
2016-12-31 2,911.38 997.96 6.92
2016-09-30 2,895.09 1,097.16 43.75
2016-06-30 2,712.15 1,273.12 12.38
2016-03-31 2,944.62 1,309.47 40.03
2015-12-31 2,934.81 1,517.14 333.19
2015-09-30 2,896.09 1,523.44 200.13
2015-06-30 2,723.56 1,753.45 126.92
2015-03-31 2,900.19 1,751.17 41.47
2014-12-31 2,818.35 2,044.04 491.45
2014-09-30 2,717.23 2,055.67 449.28
2014-06-30 2,439.73 2,357.45 315.93
2014-03-31 2,156.64 2,721.91 83.60
2013-12-31 2,132.98 2,623.17 243.96
2013-09-30 2,025.19 2,823.95 220.22
2013-06-30 1,276.83 593.15 153.07
2013-03-31 1,338.07 593.93 192.86
2012-12-31 1,347.60 594.32 273.78
  • Royal Unibrew's level of debt (107.6%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (96.4% vs 107.6% today).
  • Debt is well covered by operating cash flow (42.9%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 40.6x coverage).
X
Financial health checks
We assess Royal Unibrew's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Royal Unibrew has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

0R1 Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.93%
Current annual income from Royal Unibrew dividends. Estimated to be 2.25% next year.
If you bought €2,000 of Royal Unibrew shares you are expected to receive €39 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Royal Unibrew's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.46%).
  • Royal Unibrew's dividend is below the markets top 25% of dividend payers in Germany (3.86%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:0R1 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
Germany Beverage Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 1.8%
Germany Market Average Dividend Yield Market Cap Weighted Average of 337 Stocks 3.1%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.5%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:0R1 Future Dividends Estimate Data
Date (Data in DKK) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 15.25 1.00
2022-12-31 14.53 1.00
2021-12-31 13.37 5.00
2020-12-31 12.39 5.00
2019-12-31 11.35 6.00
2019-10-12
DB:0R1 Past Annualized Dividends Data
Date (Data in DKK) Dividend per share (annual) Avg. Yield (%)
2019-03-06 10.800 2.135
2018-03-06 8.900 1.868
2017-03-08 8.150 2.458
2016-03-01 7.200 2.461
2015-04-28 6.800 2.724
2014-11-26 0.000 0.000
2014-08-14 0.000 0.000
2014-04-29 0.000 0.000
2014-03-11 0.000 0.000
2014-01-15 0.000 0.000
2013-03-07 3.850 3.260
2012-03-09 3.400 3.957
2011-04-28 2.500 3.974
2009-11-06 0.000 0.000
2009-08-26 0.000 0.000
2009-04-29 0.000 0.000
2009-04-03 0.000 0.000
2009-02-26 0.000 0.000

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Royal Unibrew has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but Royal Unibrew only paid a dividend in the past 8 years.
Current Payout to shareholders
What portion of Royal Unibrew's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.9x coverage).
X
Income/ dividend checks
We assess Royal Unibrew's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Royal Unibrew afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Royal Unibrew has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

0R1 Management

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

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Hans Savonije
AGE 63
TENURE AS CEO 2.1 years
CEO Bio

Mr. Johannes F. C. M. Savonije, also known as Hans, has been Chief Executive Officer and President of Royal Unibrew A/S since September 18, 2017 also serves as its Member of Executive Board. Mr. Savonije served as the Chief Operating Officer of Royal Unibrew A/S since September 2008 until September 18, 2017. Mr. Savonije served as an Acting Managing Director of Hartwall Ltd. since April 2014. He served as a Director of International at Royal Unibrew A/S since September 2008. He has almost 35 years of experience. Mr. Savonije served as an Executive Director of Northern Europe of Royal Unibrew A/S since September 29, 2008. He served as an Executive Director of Unilever, the Coca-Cola Company and Remy Cointreau in both Eastern and Western Europe. Mr. Savonije served as an Executive Director of World Lotteries Association. He holds a B.A. in Business Administration.

CEO Compensation
  • Insufficient data for Hans to compare compensation growth.
  • Insufficient data for Hans to establish whether their remuneration is reasonable compared to companies of similar size in Germany.
Management Team

Hans Savonije

TITLE
CEO, President & Member of Executive Board
AGE
63
TENURE
2.1 yrs

Lars Jensen

TITLE
CFO & Member of Executive Board
AGE
46
TENURE
7.9 yrs

Claus Kærgaard

TITLE
Sales Development Manager & Director
AGE
51

Martin Alsø

TITLE
Business Unit Manager & Director
AGE
45
Board of Directors Tenure

Average tenure and age of the Royal Unibrew board of directors in years:

1.5
Average Tenure
58.5
Average Age
  • The average tenure for the Royal Unibrew board of directors is less than 3 years, this suggests a new board.
Board of Directors

Walther Thygesen

TITLE
Independent Chairman of the Board
AGE
69
TENURE
1.8 yrs

Jais Valeur

TITLE
Deputy Chairman
AGE
57
TENURE
1.8 yrs

Claus Kærgaard

TITLE
Sales Development Manager & Director
AGE
51
TENURE
1.5 yrs

Martin Alsø

TITLE
Business Unit Manager & Director
AGE
45
TENURE
5.5 yrs

Lars Vestergaard

TITLE
Independent Director
AGE
45
TENURE
1.5 yrs

Karsten Slotte

TITLE
Independent Director
AGE
66
TENURE
6.1 yrs

Einar Nielsen

TITLE
Director
AGE
65
TENURE
1.5 yrs

Christian Sagild

TITLE
AGE
60
TENURE
1.5 yrs

Floris van Woerkom

TITLE
AGE
56
TENURE
1.5 yrs

Heidi Kleinbach-Sauter

TITLE
Director
AGE
62
TENURE
0.5 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Royal Unibrew's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Royal Unibrew has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

0R1 News

Simply Wall St News

0R1 Company Info

Description

Royal Unibrew A/S produces, markets, sells, and distributes beer, malt, soft drinks, ciders, and long drinks. It also provides spring water, natural mineral water, energy drink, fruit juices, nectar drinks, and ready-to-drink and shots products. The company offers its products under the Royal Beer, Schiøtz, Lottrup, Kissmeyer, Anarkist, Albani, Ceres, Thor, Faxe Kondi, Nikoline, Egekilde, Faxe Kondi Booster, Tempt, Nørden, Polar Monkey, Lorina, PureThé, InFreshhh, LemonSoda, OranSoda, PelmoSoda, TonicSoda, Crodo Lisiel, Crodo Chinotto, Karjala, Lapin Kulta, Aura, Lahden Erikois, Original Long Drink, Upcider, Happy Joe, Jaffa, ED, Novelle, Kalnapilis, Taurus, the Vilkmerges, Cido, Mangali, Fruts, Lacplesa Alus, Livu Alus, the Lielvardes, Meistriti Gildi, Vitamalt, Supermalt, and Powermalt brands. It also provides license-based international brands, such as Heineken and PepsiCo; and a range of international spirits and wine brands, including Johnny Walker, Captain Morgan, Lanson, Baileys, and JP. Chenet on an agency basis. It serves customers in Denmark, Germany, Italy, France, Finland, Lithuania, Latvia, Estonia, and internationally. The company was formerly known as The Danish Brewery Group A/S and changed its name to Royal Unibrew A/S in May 2005. Royal Unibrew A/S is headquartered in Faxe, Denmark.

Details
Name: Royal Unibrew A/S
0R1
Exchange: DB
Founded:
DKK3,692,762,463
49,304,645
Website: http://www.royalunibrew.com
Address: Royal Unibrew A/S
Faxe Allé 1,
Faxe,
4640,
Denmark
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
CPSE RBREW Share Capital OMX Nordic Exchange Copenhagen DK DKK 05. May 1998
DB 0R1 Share Capital Deutsche Boerse AG DE EUR 05. May 1998
LSE 0R6Z Share Capital London Stock Exchange GB DKK 05. May 1998
BATS-CHIXE RBREWC Share Capital BATS 'Chi-X Europe' GB DKK 05. May 1998
Number of employees
Current staff
Staff numbers
2,416
Royal Unibrew employees.
Industry
Brewers
Food, Beverage & Tobacco
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/10/12 23:31
End of day share price update: 2019/10/11 00:00
Last estimates confirmation: 2019/09/10
Last earnings filing: 2019/08/27
Last earnings reported: 2019/06/30
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.