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Australian Vintage

DB:MGE
Snowflake Description

Flawless balance sheet and undervalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
MGE
DB
A$146M
Market Cap
  1. Home
  2. DE
  3. Food, Beverage & Tobacco
Company description

Australian Vintage Ltd produces, packages, markets, and distributes wine. The last earnings update was 45 days ago. More info.


Add to Portfolio Compare Print
MGE Share Price and Events
7 Day Returns
-2.7%
DB:MGE
-0.2%
DE Beverage
2.5%
DE Market
1 Year Returns
-12.6%
DB:MGE
4.9%
DE Beverage
2.6%
DE Market
MGE Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Australian Vintage (MGE) -2.7% -1.5% 1.4% -12.6% -21.7% 10.2%
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
  • MGE underperformed the Beverage industry which returned 4.9% over the past year.
  • MGE underperformed the Market in Germany which returned 2.6% over the past year.
Price Volatility
MGE
Industry
5yr Volatility vs Market

Value

 Is Australian Vintage 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 Australian Vintage 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 Australian Vintage.

DB:MGE Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 1 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:MGE
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- 30%) (55.55%))
0.802
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% + (0.802 * 5.96%)
5.01%

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

The calculations below outline how an intrinsic value for Australian Vintage 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:MGE DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (AUD, Millions) Source Present Value
Discounted (@ 5.01%)
2020 12.10 Analyst x1 11.52
2021 19.10 Analyst x1 17.32
2022 20.70 Analyst x1 17.88
2023 21.79 Est @ 5.25% 17.92
2024 22.60 Est @ 3.74% 17.70
2025 23.21 Est @ 2.69% 17.31
2026 23.66 Est @ 1.95% 16.81
2027 24.00 Est @ 1.43% 16.23
2028 24.26 Est @ 1.07% 15.62
2029 24.46 Est @ 0.82% 15.00
Present value of next 10 years cash flows A$163.00
DB:MGE DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= A$24.46 × (1 + 0.23%) ÷ (5.01% – 0.23%)
A$512.66
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= A$512.66 ÷ (1 + 5.01%)10
A$314.44
DB:MGE Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= A$163.00 + A$314.44
A$477.44
Equity Value per Share
(AUD)
= Total value / Shares Outstanding
= A$477.44 / 280.71
A$1.7
DB:MGE Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:MGE represents 0.56154x of ASX:AVG
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.56154x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (AUD) x Listing Adjustment Factor
= A$ 1.70 x 0.56154
€0.96
Value per share (EUR) From above. €0.96
Current discount Discount to share price of €0.29
= -1 x (€0.29 - €0.96) / €0.96
69.4%

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

Current Discount
Amount off the current price Australian Vintage is available for.
Intrinsic value
>50%
Share price is €0.292 vs Future cash flow value of €0.95509
Current Discount Checks
For Australian Vintage to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Australian Vintage's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Australian Vintage's share price is below the future cash flow value, and 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 Australian Vintage's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Australian Vintage's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:MGE PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in AUD A$0.03
ASX:AVG Share Price ** ASX (2019-10-11) in AUD A$0.52
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 Australian Vintage.

DB:MGE PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ASX:AVG Share Price ÷ EPS (both in AUD)

= 0.52 ÷ 0.03

17.9x

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

  • Australian Vintage is good value based on earnings compared to the DE Beverage industry average.
  • Australian Vintage is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Australian Vintage's expected growth come at a high price?
Raw Data
DB:MGE PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 17.9x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
15.4%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:MGE PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 17.9x ÷ 15.4%

1.16x

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

  • Australian Vintage is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Australian Vintage's assets?
Raw Data
DB:MGE PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in AUD A$1.06
ASX:AVG Share Price * ASX (2019-10-11) in AUD A$0.52
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:MGE PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ASX:AVG Share Price ÷ Book Value per Share (both in AUD)

= 0.52 ÷ 1.06

0.49x

* Primary Listing of Australian Vintage.

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

  • Australian Vintage is good value based on assets compared to the DE Beverage industry average.
X
Value checks
We assess Australian Vintage'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. Australian Vintage has a total score of 5/6, 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.

Future Performance

 How is Australian Vintage expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

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
15.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Australian Vintage expected to grow at an attractive rate?
  • Australian Vintage's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Australian Vintage's earnings growth is expected to exceed the Germany market average.
  • Australian Vintage's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:MGE Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:MGE Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts 15.4%
DB:MGE Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 3.6%
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:MGE Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in AUD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:MGE Future Estimates Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-06-30
2022-06-30 299 28 14 1
2021-06-30 290 26 13 1
2020-06-30 278 24 12 1
2019-10-12
DB:MGE Past Financials Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income *
2019-06-30 269 24 8
2019-03-31 265 25 9
2018-12-31 275 27 10
2018-09-30 270 27 9
2018-06-30 249 27 8
2018-03-31 244 22 7
2017-12-31 239 17 7
2017-09-30 233 16 6
2017-06-30 226 14 4
2017-03-31 229 5
2016-12-31 232 3 6
2016-09-30 237 5 2

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Australian Vintage's earnings are expected to grow by 15.4% yearly, however this is not considered high growth (20% yearly).
  • Australian Vintage's revenue is expected to grow by 3.6% 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:MGE 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 1 Analyst Estimates (S&P Global) See Below

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

DB:MGE Future Estimates Data
Date (Data in AUD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-06-30
2022-06-30 0.05 0.05 0.05 1.00
2021-06-30 0.04 0.04 0.04 1.00
2020-06-30 0.04 0.04 0.04 1.00
2019-10-12
DB:MGE Past Financials Data
Date (Data in AUD Millions) EPS *
2019-06-30 0.03
2019-03-31 0.03
2018-12-31 0.03
2018-09-30 0.03
2018-06-30 0.03
2018-03-31 0.03
2017-12-31 0.03
2017-09-30 0.02
2017-06-30 0.02
2017-03-31 0.02
2016-12-31 0.02
2016-09-30 0.01

*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.
  • Australian Vintage is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Australian Vintage'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.
Australian Vintage 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.

Past Performance

  How has Australian Vintage 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 Australian Vintage'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.
  • Australian Vintage's year on year earnings growth rate has been positive over the past 5 years.
  • Australian Vintage's 1-year earnings growth exceeds its 5-year average (5.6% vs 1.4%)
  • Australian Vintage's earnings growth has exceeded the DE Beverage industry average in the past year (5.6% vs -2%).
Earnings and Revenue History
Australian Vintage'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 Australian Vintage Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:MGE Past Revenue, Cash Flow and Net Income Data
Date (Data in AUD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 269.17 8.12 54.07
2019-03-31 264.68 8.94 53.46
2018-12-31 275.33 9.75 52.86
2018-09-30 269.97 8.72 51.62
2018-06-30 249.48 7.69 50.37
2018-03-31 244.47 7.42 49.73
2017-12-31 239.46 7.14 49.08
2017-09-30 232.96 5.72 49.02
2017-06-30 226.45 4.30 48.95
2017-03-31 229.36 4.92 49.48
2016-12-31 232.26 5.53 50.00
2016-09-30 237.47 1.67 49.72
2016-06-30 242.69 -2.20 49.44
2016-03-31 240.83 -1.70 49.13
2015-12-31 238.98 -1.21 48.83
2015-09-30 234.94 4.08 48.26
2015-06-30 230.90 9.37 47.70
2015-03-31 231.26 10.16 47.33
2014-12-31 231.62 10.96 46.96
2014-09-30 223.19 10.75 45.54
2014-06-30 214.75 10.54 44.12
2014-03-31 209.29 9.17 42.53
2013-12-31 203.83 7.79 40.95
2013-09-30 206.19 7.43 40.99
2013-06-30 208.55 7.07 41.03
2013-03-31 214.84 6.86 41.19
2012-12-31 221.13 6.64 41.34

*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.
  • Australian Vintage has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Australian Vintage used its assets less efficiently than the DE Beverage industry average last year based on Return on Assets.
  • Australian Vintage has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Australian Vintage'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.
Australian Vintage has a total score of 4/6, 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.

Health

 How is Australian Vintage'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 Australian Vintage's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Australian Vintage is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Australian Vintage's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Australian Vintage'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 covered by short term assets, assets are 2.8x 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 Australian Vintage Company Filings, last reported 3 months ago.

DB:MGE Past Debt and Equity Data
Date (Data in AUD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 298.83 76.65 8.06
2019-03-31 298.83 76.65 8.06
2018-12-31 297.02 88.70 9.39
2018-09-30 297.02 88.70 9.39
2018-06-30 292.89 80.01 7.71
2018-03-31 292.89 80.01 7.71
2017-12-31 289.36 90.05 7.17
2017-09-30 289.36 90.05 7.17
2017-06-30 286.84 80.22 2.62
2017-03-31 286.84 80.22 2.62
2016-12-31 269.73 104.35 5.65
2016-09-30 269.73 104.35 5.65
2016-06-30 266.50 107.56 6.01
2016-03-31 266.50 107.56 6.01
2015-12-31 286.86 101.09 5.66
2015-09-30 286.86 101.09 5.66
2015-06-30 292.36 104.34 2.31
2015-03-31 292.36 104.34 2.31
2014-12-31 287.41 103.63 7.98
2014-09-30 287.41 103.63 7.98
2014-06-30 288.24 111.87 4.20
2014-03-31 288.24 111.87 4.20
2013-12-31 281.00 107.18 3.18
2013-09-30 281.00 107.18 3.18
2013-06-30 240.90 137.43 1.00
2013-03-31 240.90 137.43 1.00
2012-12-31 236.97 142.27 5.86
  • Australian Vintage's level of debt (25.7%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (38.8% vs 25.7% today).
  • Debt is well covered by operating cash flow (30.8%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 5.2x coverage).
X
Financial health checks
We assess Australian Vintage'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. Australian Vintage has a total score of 6/6, 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.

Dividends

 What is Australian Vintage'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
3.85%
Current annual income from Australian Vintage dividends. Estimated to be 4.86% next year.
If you bought €2,000 of Australian Vintage shares you are expected to receive €77 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?
  • Australian Vintage's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.46%).
  • Australian Vintage's dividend is below the markets top 25% of dividend payers in Germany (3.86%).
Upcoming dividend payment

Purchase Australian Vintage before the 'Ex-dividend' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
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:MGE 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 1 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:MGE Future Dividends Estimate Data
Date (Data in A$) Dividend per Share (annual) Avg. No. Analysts
2023-06-30 0.03 1.00
2022-06-30 0.03 1.00
2021-06-30 0.02 1.00
2020-06-30 0.02 1.00
2019-10-12
DB:MGE Past Annualized Dividends Data
Date (Data in A$) Dividend per share (annual) Avg. Yield (%)
2019-08-28 0.020 4.075
2018-08-29 0.015 2.982
2017-08-30 0.010 1.949
2016-08-24 0.015 3.141
2016-02-24 0.000 0.000
2015-08-28 0.000 0.000
2015-08-26 0.000 0.000
2014-08-27 0.022 5.495
2013-08-23 0.026 6.667
2012-09-26 0.026 5.423
2012-08-22 0.026 5.514
2012-02-28 0.000 0.000
2011-08-24 0.025 8.212

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

  • Australian Vintage has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Australian Vintage has only been paying a dividend for 8 years, and since then dividends per share have fallen.
Current Payout to shareholders
What portion of Australian Vintage's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.5x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.8x coverage).
X
Income/ dividend checks
We assess Australian Vintage'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 Australian Vintage afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Australian Vintage 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.

Management

 What is the CEO of Australian Vintage'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
Neil McGuigan
COMPENSATION A$1,068,335
AGE 61
TENURE AS CEO 9.3 years
CEO Bio

Mr. Neil A. McGuigan, B. App. Sc (OENO), has been the Chief Executive Officer of Australian Vintage Ltd since May 3, 2010 and served as its serves as a General Manager of Production and Wine Supply. Mr. McGuigan has been an Executive Director of Australian Vintage Ltd since July 21, 2010.

CEO Compensation
  • Neil's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Neil's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure of the Australian Vintage management team in years:

6.2
Average Tenure
  • The average tenure for the Australian Vintage management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Neil McGuigan

TITLE
CEO & Executive Director
COMPENSATION
A$1M
AGE
61
TENURE
9.3 yrs

Mike Noack

TITLE
CFO & Company Secretary
COMPENSATION
A$640K
TENURE
17.8 yrs

Cameron Ferguson

TITLE
Chief Operating Officer of Australasia & North America
COMPENSATION
A$599K

Julian Dyer

TITLE
Chief Operating Officer of UK/Europe
COMPENSATION
A$558K

Josh Gibbons

TITLE
Chief Information Officer
TENURE
3.1 yrs

Rosie Davenport

TITLE
Communications & PR Manager

Alicia Kinlay

TITLE
Head Legal Counsel
TENURE
3.1 yrs

Scott Burton

TITLE
Marketing Manager
Board of Directors Tenure

Average tenure and age of the Australian Vintage board of directors in years:

4.5
Average Tenure
62.5
Average Age
  • The tenure for the Australian Vintage board of directors is about average.
Board of Directors

Richard Davis

TITLE
Chairman
COMPENSATION
A$120K
AGE
64
TENURE
4.3 yrs

Neil McGuigan

TITLE
CEO & Executive Director
COMPENSATION
A$1M
AGE
61
TENURE
9.3 yrs

Naseema Sparks

TITLE
Non-Executive Director
COMPENSATION
A$80K
AGE
66
TENURE
4.8 yrs

John Davies

TITLE
Non-Executive Director
COMPENSATION
A$80K
AGE
66
TENURE
4.8 yrs

Peter Perrin

TITLE
Non-Executive Director
COMPENSATION
A$80K
AGE
61
TENURE
2.6 yrs

Dixon Yuan

TITLE
Non-Independent Non-Executive Director
COMPENSATION
A$83K
AGE
42
TENURE
2.3 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 (€)
10. Sep 19 Buy Orbis Investment Management Limited Company 29. Aug 19 06. Sep 19 4,031,195 €0.30 €1,196,550
23. Jul 19 Sell Orbis Investment Management Limited Company 08. May 18 10. Jul 19 -902,736 €0.87 €-336,929
23. Jul 19 Buy Orbis Investment Management Limited Company 08. May 18 19. Jul 19 4,779,700 €0.40 €1,552,612
20. Dec 18 Buy Naseema Sparks Individual 12. Dec 18 12. Dec 18 19,700 €0.31 €6,037
18. Dec 18 Buy Vintage China Fund, L.P. Company 17. Dec 18 17. Dec 18 831,032 €0.32 €263,149
X
Management checks
We assess Australian Vintage'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. Australian Vintage 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.

News

Simply Wall St News

Company Info

Description

Australian Vintage Ltd produces, packages, markets, and distributes wine. The company operates through Australasia/North America Packaged, UK/Europe, Cellar Door, Australasia/North America Bulk Wine and Processing, and Vineyards segments. It offers wine under the Miranda, Nepenthe, McGuigan Wines, Tempus Two, and Passion Pop brands. The company also owns, operates, manages, and maintains vineyards; and provides packaged and bulk wines, as well as offers concentrate and winery processing services. Australian Vintage Ltd sells its products through retail, wholesale, and distributor channels, as well as through regional outlets. The company is headquartered in Balmain, Australia.

Details
Name: Australian Vintage Ltd
MGE
Exchange: DB
Founded:
A$89,944,316
280,708,071
Website: http://www.australianvintage.com.au
Address: Australian Vintage Ltd
2 Queens Place,
Balmain,
New South Wales, 2041,
Australia
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ASX AVG Ordinary Shares Australian Securities Exchange AU AUD 30. Mar 1992
DB MGE Ordinary Shares Deutsche Boerse AG DE EUR 30. Mar 1992
CHIA AVG Ordinary Shares Chi-X Australia AU AUD 30. Mar 1992
Number of employees
Current staff
Staff numbers
0
Australian Vintage employees.
Industry
Distillers and Vintners
Food, Beverage & Tobacco
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/10/12 22:34
End of day share price update: 2019/10/11 00:00
Last estimates confirmation: 2019/08/29
Last earnings filing: 2019/08/28
Last earnings reported: 2019/06/30
Last annual earnings reported: 2019/06/30


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.