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Piraeus Port Authority

BST:PZE
Snowflake Description

Solid track record with excellent balance sheet and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
PZE
BST
€576M
Market Cap
  1. Home
  2. DE
  3. Transportation
Company description

Piraeus Port Authority S.A. provides port services at the port of Piraeus, Greece. The last earnings update was 50 days ago. More info.


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PZE Share Price and Events
7 Day Returns
0%
BST:PZE
0.9%
DE Infrastructure
-1%
DE Market
1 Year Returns
58.6%
BST:PZE
12.8%
DE Infrastructure
9.1%
DE Market
PZE Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Piraeus Port Authority (PZE) 0% 7.7% 8.5% 58.6% 92.7% 74.9%
DE Infrastructure 0.9% -0.6% 2.9% 12.8% 35.6% 25.6%
DE Market -1% 4.4% 13% 9.1% 13.8% 20.2%
1 Year Return vs Industry and Market
  • PZE outperformed the Infrastructure industry which returned 12.8% over the past year.
  • PZE outperformed the Market in Germany which returned 9.1% over the past year.
Price Volatility
PZE
Industry
5yr Volatility vs Market

Value

 Is Piraeus Port Authority 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 Piraeus Port Authority 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 Piraeus Port Authority.

BST:PZE 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 15.6%
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 BST:PZE
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 15%
Infrastructure Unlevered Beta Simply Wall St/ S&P Global 0.9
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.903 (1 + (1- 29%) (21.8%))
1.029
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.03
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.029 * 14.99%)
15.65%

Discounted Cash Flow Calculation for BST:PZE using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Piraeus Port Authority 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.

BST:PZE DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 15.65%)
2020 20.40 Analyst x1 17.64
2021 24.10 Analyst x1 18.02
2022 27.90 Analyst x1 18.04
2023 30.55 Est @ 9.49% 17.08
2024 32.60 Est @ 6.71% 15.76
2025 34.15 Est @ 4.76% 14.27
2026 35.31 Est @ 3.4% 12.76
2027 36.18 Est @ 2.45% 11.31
2028 36.82 Est @ 1.78% 9.95
2029 37.31 Est @ 1.32% 8.72
Present value of next 10 years cash flows €143.00
BST:PZE DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= €37.31 × (1 + 0.23%) ÷ (15.65% – 0.23%)
€242.47
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €242.47 ÷ (1 + 15.65%)10
€56.65
BST:PZE Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €143.00 + €56.65
€199.65
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €199.65 / 25.00
€7.99
BST:PZE Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in BST:PZE represents 0.99783x of ATSE:PPA
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.99783x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (EUR) x Listing Adjustment Factor
= € 7.99 x 0.99783
€7.97
Value per share (EUR) From above. €7.97
Current discount Discount to share price of €23.00
= -1 x (€23.00 - €7.97) / €7.97
-188.6%

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

  • The current share price of Piraeus Port Authority is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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 Piraeus Port Authority's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Piraeus Port Authority's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BST:PZE PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in EUR €1.22
ATSE:PPA Share Price ** ATSE (2019-11-14) in EUR €23.05
Europe Infrastructure Industry PE Ratio Median Figure of 36 Publicly-Listed Infrastructure Companies 17.3x
Germany Market PE Ratio Median Figure of 399 Publicly-Listed Companies 19.41x

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

** Primary Listing of Piraeus Port Authority.

BST:PZE PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ATSE:PPA Share Price ÷ EPS (both in EUR)

= 23.05 ÷ 1.22

18.89x

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

  • Piraeus Port Authority is overvalued based on earnings compared to the Europe Infrastructure industry average.
  • Piraeus Port Authority is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Piraeus Port Authority's expected growth come at a high price?
Raw Data
BST:PZE PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 18.89x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
18.6%per year
Europe Infrastructure Industry PEG Ratio Median Figure of 21 Publicly-Listed Infrastructure Companies 2.45x
Germany Market PEG Ratio Median Figure of 253 Publicly-Listed Companies 1.36x

*Line of best fit is calculated by linear regression .

BST:PZE PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 18.89x ÷ 18.6%

1.01x

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

  • Piraeus Port Authority is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Piraeus Port Authority's assets?
Raw Data
BST:PZE PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in EUR €8.57
ATSE:PPA Share Price * ATSE (2019-11-14) in EUR €23.05
Germany Infrastructure Industry PB Ratio Median Figure of 5 Publicly-Listed Infrastructure Companies 1.55x
Germany Market PB Ratio Median Figure of 573 Publicly-Listed Companies 1.85x
BST:PZE PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ATSE:PPA Share Price ÷ Book Value per Share (both in EUR)

= 23.05 ÷ 8.57

2.69x

* Primary Listing of Piraeus Port Authority.

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

  • Piraeus Port Authority is overvalued based on assets compared to the DE Infrastructure industry average.
X
Value checks
We assess Piraeus Port Authority'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 Infrastructure 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 Infrastructure industry average (and greater than 0)? (1 check)
  5. Piraeus Port Authority 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.

Future Performance

 How is Piraeus Port Authority 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
18.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Piraeus Port Authority expected to grow at an attractive rate?
  • Piraeus Port Authority's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Piraeus Port Authority's earnings growth is expected to exceed the Germany market average.
  • Piraeus Port Authority's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
BST:PZE Future Growth Rates Data Sources
Data Point Source Value (per year)
BST:PZE Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts 18.6%
BST:PZE Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 3.8%
Germany Infrastructure Industry Earnings Growth Rate Market Cap Weighted Average 2.9%
Europe Infrastructure Industry Revenue Growth Rate Market Cap Weighted Average 2.5%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.6%
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
BST:PZE Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
BST:PZE Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 159 58 81 1
2021-12-31 152 54 74 1
2020-12-31 146 50 68 1
2019-12-31 140 48 62 1
2019-11-15
BST:PZE Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-06-30 140 60 30
2019-03-31 136 58 29
2018-12-31 133 55 28
2018-09-30 128 48 24
2018-06-30 123 41 20
2018-03-31 117 37 16
2017-12-31 112 33 11
2017-09-30 110 20 10
2017-06-30 109 8 10
2017-03-31 106 5 8
2016-12-31 103 3 7
2016-09-30 99 15 0

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Piraeus Port Authority's earnings are expected to grow by 18.6% yearly, however this is not considered high growth (20% yearly).
  • Piraeus Port Authority's revenue is expected to grow by 3.8% 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
BST:PZE Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below

All data from Piraeus Port Authority Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BST:PZE Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31
2021-12-31
2020-12-31
2019-12-31
2019-11-15
BST:PZE Past Financials Data
Date (Data in EUR Millions) EPS *
2019-06-30 1.22
2019-03-31 1.17
2018-12-31 1.12
2018-09-30 0.96
2018-06-30 0.80
2018-03-31 0.63
2017-12-31 0.45
2017-09-30 0.42
2017-06-30 0.38
2017-03-31 0.32
2016-12-31 0.27
2016-09-30 0.02

*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.
  • Piraeus Port Authority is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Piraeus Port Authority'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.
Piraeus Port Authority 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 Piraeus Port Authority 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 Piraeus Port Authority's growth in the last year to its industry (Infrastructure).
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.
  • Piraeus Port Authority has delivered over 20% year on year earnings growth in the past 5 years.
  • Piraeus Port Authority's 1-year earnings growth exceeds its 5-year average (51.7% vs 34%)
  • Piraeus Port Authority's earnings growth has exceeded the Europe Infrastructure industry average in the past year (51.7% vs 13.4%).
Earnings and Revenue History
Piraeus Port Authority'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 Piraeus Port Authority Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BST:PZE Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 140.00 30.50 24.09
2019-03-31 136.46 29.19 22.31
2018-12-31 132.93 27.88 20.53
2018-09-30 127.97 24.00 17.36
2018-06-30 123.01 20.11 17.99
2018-03-31 117.27 15.70 17.69
2017-12-31 111.53 11.29 17.39
2017-09-30 110.45 10.41 19.07
2017-06-30 109.37 9.52 20.76
2017-03-31 106.43 8.11 21.22
2016-12-31 103.50 6.70 21.67
2016-09-30 99.28 0.38 28.33
2016-06-30 97.33 2.36 28.23
2016-03-31 101.64 8.46 28.04
2015-12-31 99.88 8.38 27.15
2015-09-30 99.76 10.27 21.51
2015-06-30 102.87 11.08 20.21
2015-03-31 102.92 6.45 19.71
2014-12-31 104.32 6.76 19.58
2014-09-30 106.74 8.56 18.66
2014-06-30 106.94 7.89 17.11
2014-03-31 108.00 7.94 19.25
2013-12-31 108.63 8.05 19.58
2013-09-30 106.78 8.50 18.20
2013-06-30 105.46 9.52 19.73
2013-03-31 106.02 7.80 19.04
2012-12-31 106.59 7.18 20.16

*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.
  • Piraeus Port Authority has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Piraeus Port Authority used its assets more efficiently than the Europe Infrastructure industry average last year based on Return on Assets.
  • Piraeus Port Authority has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Piraeus Port Authority'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 Infrastructure 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.
Piraeus Port Authority 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.

Health

 How is Piraeus Port Authority'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 Piraeus Port Authority's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Piraeus Port Authority is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Piraeus Port Authority's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Piraeus Port Authority'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 1.9x 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 Piraeus Port Authority Company Filings, last reported 4 months ago.

BST:PZE Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 214.22 59.50 88.53
2019-03-31 214.22 59.50 88.53
2018-12-31 208.95 62.50 80.94
2018-09-30 208.95 62.50 80.94
2018-06-30 194.49 65.50 48.15
2018-03-31 194.49 65.50 48.15
2017-12-31 185.90 68.50 61.86
2017-09-30 185.90 68.50 61.86
2017-06-30 179.59 71.50 42.31
2017-03-31 179.59 71.50 42.31
2016-12-31 177.59 74.50 43.76
2016-09-30 177.59 74.50 43.76
2016-06-30 173.13 80.50 56.78
2016-03-31 173.13 80.50 56.78
2015-12-31 174.32 80.50 59.43
2015-09-30 178.23 83.50 48.85
2015-06-30 173.72 83.50 62.52
2015-03-31 169.29 86.50 55.48
2014-12-31 168.59 86.50 54.47
2014-09-30 171.63 87.67 48.44
2014-06-30 166.31 87.67 44.50
2014-03-31 167.04 88.83 42.76
2013-12-31 166.01 88.83 40.62
2013-09-30 166.61 90.00 22.89
2013-06-30 161.96 90.00 21.38
2013-03-31 160.89 90.00 20.32
2012-12-31 159.75 90.00 14.66
  • Piraeus Port Authority's level of debt (27.8%) 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 (52.7% vs 27.8% today).
  • Debt is well covered by operating cash flow (100.7%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 33.8x coverage).
X
Financial health checks
We assess Piraeus Port Authority'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. Piraeus Port Authority has a total score of 5/6, 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 Piraeus Port Authority'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
1.84%
Current annual income from Piraeus Port Authority dividends. Estimated to be 2.25% next year.
If you bought €2,000 of Piraeus Port Authority shares you are expected to receive €37 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?
  • Piraeus Port Authority's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.38%).
  • Piraeus Port Authority's dividend is below the markets top 25% of dividend payers in Germany (3.67%).
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
BST:PZE 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
Europe Infrastructure Industry Average Dividend Yield Market Cap Weighted Average of 34 Stocks 4%
Germany Market Average Dividend Yield Market Cap Weighted Average of 333 Stocks 3%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.7%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

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

BST:PZE Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 0.59 1.00
2021-12-31 0.54 1.00
2020-12-31 0.49 1.00
2019-12-31 0.45 1.00
2019-11-15
BST:PZE Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-02-14 0.424 2.019
2018-02-13 0.171 1.069
2017-02-16 0.089 0.599
2016-03-29 0.111 0.877
2015-08-27 0.990 7.263
2015-03-31 0.099 0.734
2015-03-30 0.099 0.864
2014-03-27 0.120 0.816
2013-06-28 0.050 0.281
2012-05-30 0.010 0.074
2012-02-29 0.010 0.098
2011-11-28 0.020 0.209
2011-08-29 0.020 0.205
2011-05-27 0.020 0.158
2011-03-14 0.020 0.132
2010-11-29 0.000 0.000
2010-08-30 0.000 0.000
2010-07-30 0.000 0.000
2010-05-25 0.000 0.000
2010-03-29 0.000 0.000
2009-03-26 0.070 0.499
2009-01-15 0.070 0.694

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Piraeus Port Authority's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.9x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.7x coverage).
X
Income/ dividend checks
We assess Piraeus Port Authority's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.7%) - 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 Piraeus Port Authority afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Piraeus Port Authority has a total score of 4/6, 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 Piraeus Port Authority'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
Chengqiu Fu
TENURE AS CEO 3.3 years
CEO Bio

Mr. Chengqiu Fu has been the Chief Executive Officer and Executive Director at Piraeus Port Authority SA since August 10, 2016 and serves as its Managing Director and also served as its Chairman since January 19, 2018 until July 2019.

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

Average tenure of the Piraeus Port Authority management team in years:

3.3
Average Tenure
  • The tenure for the Piraeus Port Authority management team is about average.
Management Team

Chengqiu Fu

TITLE
CEO & MD
TENURE
3.3 yrs

Xiaoli Deng

TITLE
Deputy Chief Executive Officer
TENURE
3.3 yrs

Jianchun Li

TITLE
Deputy Chief Executive Officer
TENURE
3.3 yrs

Angelos Karakostas

TITLE
Deputy Chief Executive Officer
TENURE
3.3 yrs

Athanasios Liagkos

TITLE
Senior Consultant & Non-Executive Director
TENURE
3.3 yrs
Board of Directors Tenure

Average tenure and age of the Piraeus Port Authority board of directors in years:

3.3
Average Tenure
56
Average Age
  • The tenure for the Piraeus Port Authority board of directors is about average.
Board of Directors

Zenggang Yu

TITLE
Chairman of the Board of Directors
AGE
56
TENURE
0.3 yrs

Chengqiu Fu

TITLE
CEO & MD
TENURE
3.3 yrs

Athanasios Liagkos

TITLE
Senior Consultant & Non-Executive Director

Gordon Kwong

TITLE
Independent Non-Executive Director
AGE
70
TENURE
3.3 yrs

Loannis Moralis

TITLE
Non Executive Director
TENURE
5.1 yrs

Weilong Ye

TITLE
Non-Executive Director
AGE
56
TENURE
3.3 yrs

Boming Feng

TITLE
Non-Executive Director
AGE
50
TENURE
3.3 yrs

Jianhui Zhu

TITLE
Non-Executive Director
AGE
56
TENURE
3.3 yrs

Nikolaos Arvanitis

TITLE
Independent Non-Executive Director
TENURE
3.3 yrs

Eric Ip

TITLE
Independent Non-Executive Director
AGE
66
TENURE
3.3 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 (€)
X
Management checks
We assess Piraeus Port Authority'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. Piraeus Port Authority 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

Piraeus Port Authority S.A. provides port services at the port of Piraeus, Greece. It operates through Container Terminal, Handling Car, Coasting, Cruise, Ship Repairing, and Other segments. The company offers anchoring services of vessels, cargo handling, loading, and unloading services, as well as goods storage and car transportation services. It is also involved in maintenance of port facilities. In addition, the company offers port services, including water, electricity, space management, merchandise management, and telephone connection to ships; and services to travelers, as well as rents space to third parties. Piraeus Port Authority S.A. was founded in 1930 and is headquartered in Piraeus, Greece. Piraeus Port Authority S.A. is a subsidiary of COSCO SHIPPING (Hong Kong) Limited.

Details
Name: Piraeus Port Authority S.A.
PZE
Exchange: BST
Founded: 1930
€576,250,000
25,000,000
Website: http://www.olp.gr
Address: Piraeus Port Authority S.A.
10 Akti Miaouli Street,
Piraeus,
Greece
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ATSE PPA Ordinary Shares The Athens Stock Exchange GR EUR 08. Aug 2003
BST PZE Ordinary Shares Boerse-Stuttgart DE EUR 08. Aug 2003
LSE 0FHO Ordinary Shares London Stock Exchange GB EUR 08. Aug 2003
Number of employees
Current staff
Staff numbers
1,013
Piraeus Port Authority employees.
Industry
Marine Ports and Services
Transportation
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/11/15 20:31
End of day share price update: 2019/11/14 00:00
Last estimates confirmation: 2019/05/29
Last earnings filing: 2019/09/26
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.