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Semapa - Sociedade de Investimento e Gestão SGPS

BATS-CHIXE:SEMU
Snowflake Description

Very undervalued established dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SEMU
BATS-CHIXE
€640M
Market Cap
  1. Home
  2. GB
  3. Materials
Company description

Semapa - Sociedade de Investimento e Gestão, SGPS, S.A., through its subsidiaries, produces and sells cellulose pulp and paper and related products. The last earnings update was 50 days ago. More info.


Add to Portfolio Compare Print
  • Semapa - Sociedade de Investimento e Gestão SGPS has significant price volatility in the past 3 months.
SEMU Share Price and Events
7 Day Returns
7.7%
BATS-CHIXE:SEMU
-2.2%
Europe Forestry
-5.4%
GB Market
1 Year Returns
-43.5%
BATS-CHIXE:SEMU
-19.7%
Europe Forestry
-25.2%
GB Market
SEMU Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Semapa - Sociedade de Investimento e Gestão SGPS (SEMU) 7.7% -28.6% -40.6% -43.5% -43.3% -42.3%
Europe Forestry -2.2% -15.4% -23.1% -19.7% -29% -14.1%
GB Market -5.4% -20.6% -29.1% -25.2% -25.9% -25.1%
1 Year Return vs Industry and Market
  • SEMU underperformed the Forestry industry which returned -19.7% over the past year.
  • SEMU underperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned -25.2% over the past year.
Price Volatility
SEMU
Industry
5yr Volatility vs Market

SEMU Value

 Is Semapa - Sociedade de Investimento e Gestão SGPS 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 Semapa - Sociedade de Investimento e Gestão SGPS 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 Semapa - Sociedade de Investimento e Gestão SGPS.

BATS-CHIXE:SEMU Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 3 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 17%
Perpetual Growth Rate 10-Year GB Government Bond Rate 0.5%

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 BATS-CHIXE:SEMU
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 0.5%
Equity Risk Premium S&P Global 8.2%
Forestry Unlevered Beta Simply Wall St/ S&P Global 1.02
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.02 (1 + (1- 21%) (280.41%))
2.526
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.53% + (2 * 8.23%)
16.99%

Discounted Cash Flow Calculation for BATS-CHIXE:SEMU using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Semapa - Sociedade de Investimento e Gestão SGPS 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.

BATS-CHIXE:SEMU DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 16.99%)
2020 353.00 Analyst x1 301.74
2021 356.00 Analyst x1 260.11
2022 380.00 Analyst x1 237.32
2023 390.50 Est @ 2.76% 208.46
2024 398.68 Est @ 2.09% 181.92
2025 405.16 Est @ 1.62% 158.03
2026 410.41 Est @ 1.3% 136.83
2027 414.79 Est @ 1.07% 118.20
2028 418.54 Est @ 0.91% 101.95
2029 421.86 Est @ 0.79% 87.84
Present value of next 10 years cash flows €1,792.00
BATS-CHIXE:SEMU DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= €421.86 × (1 + 0.53%) ÷ (16.99% – 0.53%)
€2,576.52
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €2,576.52 ÷ (1 + 16.99%)10
€536.47
BATS-CHIXE:SEMU Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €1,792.00 + €536.47
€2,328.47
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €2,328.47 / 80.45
€28.94
BATS-CHIXE:SEMU Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in BATS-CHIXE:SEMU represents 1.03271x of ENXTLS:SEM
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.03271x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (EUR) x Listing Adjustment Factor
= € 28.94 x 1.03271
€29.89
Value per share (EUR) From above. €29.89
Current discount Discount to share price of €8.21
= -1 x (€8.21 - €29.89) / €29.89
72.5%

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

Current Discount
Amount off the current price Semapa - Sociedade de Investimento e Gestão SGPS is available for.
Intrinsic value
>50%
Share price is €8.21 vs Future cash flow value of €29.89
Current Discount Checks
For Semapa - Sociedade de Investimento e Gestão SGPS to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Semapa - Sociedade de Investimento e Gestão SGPS's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Semapa - Sociedade de Investimento e Gestão SGPS'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 Semapa - Sociedade de Investimento e Gestão SGPS's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Semapa - Sociedade de Investimento e Gestão SGPS's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BATS-CHIXE:SEMU PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in EUR €1.54
ENXTLS:SEM Share Price ** ENXTLS (2020-04-02) in EUR €7.95
Europe Forestry Industry PE Ratio Median Figure of 31 Publicly-Listed Forestry Companies 9.17x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 748 Publicly-Listed Companies 12.44x

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

** Primary Listing of Semapa - Sociedade de Investimento e Gestão SGPS.

BATS-CHIXE:SEMU PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ENXTLS:SEM Share Price ÷ EPS (both in EUR)

= 7.95 ÷ 1.54

5.15x

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

  • Semapa - Sociedade de Investimento e Gestão SGPS is good value based on earnings compared to the Europe Forestry industry average.
  • Semapa - Sociedade de Investimento e Gestão SGPS is good value based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does Semapa - Sociedade de Investimento e Gestão SGPS's expected growth come at a high price?
Raw Data
BATS-CHIXE:SEMU PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 5.15x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
6.9%per year
Europe Forestry Industry PEG Ratio Median Figure of 21 Publicly-Listed Forestry Companies 0.43x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 518 Publicly-Listed Companies 0.97x

*Line of best fit is calculated by linear regression .

BATS-CHIXE:SEMU PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 5.15x ÷ 6.9%

0.74x

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

  • Semapa - Sociedade de Investimento e Gestão SGPS is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Semapa - Sociedade de Investimento e Gestão SGPS's assets?
Raw Data
BATS-CHIXE:SEMU PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in EUR €11.88
ENXTLS:SEM Share Price * ENXTLS (2020-04-02) in EUR €7.95
Europe Forestry Industry PB Ratio Median Figure of 38 Publicly-Listed Forestry Companies 0.96x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,323 Publicly-Listed Companies 1.07x
BATS-CHIXE:SEMU PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ENXTLS:SEM Share Price ÷ Book Value per Share (both in EUR)

= 7.95 ÷ 11.88

0.67x

* Primary Listing of Semapa - Sociedade de Investimento e Gestão SGPS.

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

  • Semapa - Sociedade de Investimento e Gestão SGPS is good value based on assets compared to the Europe Forestry industry average.
X
Value checks
We assess Semapa - Sociedade de Investimento e Gestão SGPS'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 Forestry 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 Forestry industry average (and greater than 0)? (1 check)
  5. Semapa - Sociedade de Investimento e Gestão SGPS has a total score of 6/6, 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.

SEMU Future Performance

 How is Semapa - Sociedade de Investimento e Gestão SGPS expected to perform in the next 1 to 3 years based on estimates from 3 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
6.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Semapa - Sociedade de Investimento e Gestão SGPS expected to grow at an attractive rate?
  • Semapa - Sociedade de Investimento e Gestão SGPS's earnings growth is expected to exceed the low risk savings rate of 0.5%.
Growth vs Market Checks
  • Semapa - Sociedade de Investimento e Gestão SGPS's earnings growth is positive but not above the United Kingdom of Great Britain and Northern Ireland market average.
  • Semapa - Sociedade de Investimento e Gestão SGPS's revenue growth is positive but not above the United Kingdom of Great Britain and Northern Ireland market average.
Annual Growth Rates Comparison
Raw Data
BATS-CHIXE:SEMU Future Growth Rates Data Sources
Data Point Source Value (per year)
BATS-CHIXE:SEMU Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 6.9%
BATS-CHIXE:SEMU Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 2.3%
Europe Forestry Industry Earnings Growth Rate Market Cap Weighted Average -8%
Europe Forestry Industry Revenue Growth Rate Market Cap Weighted Average 0.4%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 15.3%
United Kingdom of Great Britain and Northern Ireland Market Revenue Growth Rate Market Cap Weighted Average 2.4%

*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
BATS-CHIXE:SEMU Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
BATS-CHIXE:SEMU Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 2,381 503 155 1
2021-12-31 2,281 483 125 2
2020-12-31 2,230 465 105 3
2020-04-03
BATS-CHIXE:SEMU Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-12-31 2,229 124
2019-09-30 2,250 480 147
2019-06-30 2,257 462 147
2019-03-31 2,250 333 145
2018-12-31 2,208 445 133
2018-09-30 2,207 427 144
2018-06-30 2,172 452 140
2018-03-31 2,168 528 137
2017-12-31 2,179 429 124
2017-09-30 2,165 434 121
2017-06-30 2,138 393 111
2017-03-31 2,110 380 112

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Semapa - Sociedade de Investimento e Gestão SGPS's earnings are expected to grow by 6.9% yearly, however this is not considered high growth (20% yearly).
  • Semapa - Sociedade de Investimento e Gestão SGPS's revenue is expected to grow by 2.3% 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
BATS-CHIXE:SEMU 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 3 Analyst Estimates (S&P Global) See Below

All data from Semapa - Sociedade de Investimento e Gestão SGPS Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BATS-CHIXE:SEMU Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 1.91 1.91 1.91 1.00
2021-12-31 1.54 1.65 1.43 2.00
2020-12-31 1.43 1.72 1.22 3.00
2020-04-03
BATS-CHIXE:SEMU Past Financials Data
Date (Data in EUR Millions) EPS *
2019-12-31 1.54
2019-09-30 1.83
2019-06-30 1.82
2019-03-31 1.80
2018-12-31 1.64
2018-09-30 1.78
2018-06-30 1.73
2018-03-31 1.70
2017-12-31 1.54
2017-09-30 1.51
2017-06-30 1.38
2017-03-31 1.38

*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.
  • Semapa - Sociedade de Investimento e Gestão SGPS is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Semapa - Sociedade de Investimento e Gestão SGPS'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 Europe 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.
Semapa - Sociedade de Investimento e Gestão SGPS has a total score of 1/6, 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.

SEMU Past Performance

  How has Semapa - Sociedade de Investimento e Gestão SGPS 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 Semapa - Sociedade de Investimento e Gestão SGPS's growth in the last year to its industry (Forestry).
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.
  • Semapa - Sociedade de Investimento e Gestão SGPS's year on year earnings growth rate has been positive over the past 5 years.
  • Semapa - Sociedade de Investimento e Gestão SGPS's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Semapa - Sociedade de Investimento e Gestão SGPS's 1-year earnings growth is negative, it can't be compared to the Europe Forestry industry average.
Earnings and Revenue History
Semapa - Sociedade de Investimento e Gestão SGPS'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 Semapa - Sociedade de Investimento e Gestão SGPS Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BATS-CHIXE:SEMU Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 2,228.50 124.10
2019-09-30 2,250.21 147.10 239.80
2019-06-30 2,256.72 146.92 247.54
2019-03-31 2,250.15 145.12 253.93
2018-12-31 2,207.76 132.55 257.16
2018-09-30 2,206.57 143.52 268.36
2018-06-30 2,172.02 139.88 266.62
2018-03-31 2,168.37 136.98 262.91
2017-12-31 2,179.12 124.09 260.34
2017-09-30 2,165.06 121.41 253.28
2017-06-30 2,138.39 110.93 247.72
2017-03-31 2,109.75 111.59 265.80
2016-12-31 2,093.99 114.86 242.09
2016-09-30 2,113.25 87.23 255.71
2016-06-30 2,148.61 77.58 268.19
2016-03-31 2,154.55 78.89 244.86
2015-12-31 2,150.51 81.53 244.82
2015-09-30 2,117.65 98.62 214.65
2015-06-30 2,081.13 116.20 193.71
2015-03-31 2,055.38 115.46 183.75
2014-12-31 2,022.67 112.80 194.68
2014-09-30 1,982.12 156.57 190.94
2014-06-30 1,983.23 154.70 192.14
2014-03-31 1,992.42 151.44 193.53
2013-12-31 1,971.46 146.13 194.86
2013-09-30 1,989.03 85.59 180.85
2013-06-30 1,994.96 83.48 185.14

*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.
  • Semapa - Sociedade de Investimento e Gestão SGPS has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Semapa - Sociedade de Investimento e Gestão SGPS used its assets less efficiently than the Europe Forestry industry average last year based on Return on Assets.
  • Semapa - Sociedade de Investimento e Gestão SGPS has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Semapa - Sociedade de Investimento e Gestão SGPS'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 Forestry 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.
Semapa - Sociedade de Investimento e Gestão SGPS has a total score of 2/6, 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.

SEMU Health

 How is Semapa - Sociedade de Investimento e Gestão SGPS'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 Semapa - Sociedade de Investimento e Gestão SGPS's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Semapa - Sociedade de Investimento e Gestão SGPS is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Semapa - Sociedade de Investimento e Gestão SGPS's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Semapa - Sociedade de Investimento e Gestão SGPS'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 0.5x 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 Semapa - Sociedade de Investimento e Gestão SGPS Company Filings, last reported 3 months ago.

BATS-CHIXE:SEMU Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 1,293.53 1,793.35 179.95
2019-09-30 1,293.53 1,721.74 179.95
2019-06-30 1,240.41 1,789.34 216.56
2019-03-31 1,304.45 1,837.62 283.66
2018-12-31 1,257.59 1,736.95 184.65
2018-09-30 1,225.88 1,800.04 196.82
2018-06-30 1,166.68 1,850.14 222.29
2018-03-31 1,235.74 1,877.53 322.34
2017-12-31 1,221.95 1,917.70 245.94
2017-09-30 1,194.81 1,960.65 223.10
2017-06-30 1,143.89 1,989.62 193.18
2017-03-31 1,258.50 1,964.52 202.78
2016-12-31 1,227.08 1,961.02 184.10
2016-09-30 1,147.07 2,012.35 163.19
2016-06-30 1,127.73 2,067.11 148.52
2016-03-31 1,157.96 1,998.43 184.73
2015-12-31 1,131.63 2,011.04 208.49
2015-09-30 1,184.48 1,985.89 189.72
2015-06-30 1,209.50 1,985.61 193.32
2015-03-31 1,280.95 1,911.22 476.63
2014-12-31 1,236.82 2,003.43 602.97
2014-09-30 1,191.36 2,029.60 572.65
2014-06-30 1,195.36 1,905.92 421.62
2014-03-31 1,240.55 2,143.14 668.36
2013-12-31 1,210.00 2,118.56 650.03
2013-09-30 1,148.99 2,194.62 675.04
2013-06-30 1,130.41 2,180.12 598.66
  • Semapa - Sociedade de Investimento e Gestão SGPS's level of debt (133.1%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (161.8% vs 133.1% today).
  • Debt is well covered by operating cash flow (27.9%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 4.7x coverage).
X
Financial health checks
We assess Semapa - Sociedade de Investimento e Gestão SGPS'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. Semapa - Sociedade de Investimento e Gestão SGPS has a total score of 4/6, 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.

SEMU Dividends

 What is Semapa - Sociedade de Investimento e Gestão SGPS'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
6.44%
Current annual income from Semapa - Sociedade de Investimento e Gestão SGPS dividends. Estimated to be 6.72% next year.
If you bought €2,000 of Semapa - Sociedade de Investimento e Gestão SGPS shares you are expected to receive €129 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?
  • Semapa - Sociedade de Investimento e Gestão SGPS's pays a higher dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (2.68%).
  • Semapa - Sociedade de Investimento e Gestão SGPS's dividend is below the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (7.57%).
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
BATS-CHIXE:SEMU 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 3 Analyst Estimates (S&P Global) See Below
Europe Forestry Industry Average Dividend Yield Market Cap Weighted Average of 21 Stocks 5.9%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 608 Stocks 5.7%
United Kingdom of Great Britain and Northern Ireland Minimum Threshold Dividend Yield 10th Percentile 1.4%
United Kingdom of Great Britain and Northern Ireland Bottom 25% Dividend Yield 25th Percentile 2.7%
United Kingdom of Great Britain and Northern Ireland Top 25% Dividend Yield 75th Percentile 7.6%

Industry and Market average data is calculated daily.

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

BATS-CHIXE:SEMU Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 0.68 1.00
2021-12-31 0.54 2.00
2020-12-31 0.48 3.00
2020-04-03
BATS-CHIXE:SEMU Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-03-18 0.512 4.152
2019-02-15 0.512 3.346
2018-05-03 0.512 2.977
2017-04-27 0.450 2.646
2016-03-23 0.329 2.766
2016-02-05 0.329 3.003
2015-03-31 0.375 2.991
2014-05-05 0.332 3.192
2014-04-04 0.332 3.227
2013-04-30 0.255 3.307
2012-03-01 0.255 4.541
2012-02-07 0.255 4.443
2010-11-30 0.255 3.790
2010-04-08 0.255 3.285
2009-04-08 0.204 2.904

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

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Semapa - Sociedade de Investimento e Gestão SGPS's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.8x coverage).
X
Income/ dividend checks
We assess Semapa - Sociedade de Investimento e Gestão SGPS's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.4%) - 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 Semapa - Sociedade de Investimento e Gestão SGPS afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Semapa - Sociedade de Investimento e Gestão SGPS has a total score of 5/6, see the detailed checks below.


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

SEMU Management

 What is the CEO of Semapa - Sociedade de Investimento e Gestão SGPS'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
João Nuno de Sottomayor de Castello Branco
COMPENSATION €1,423,610
TENURE AS CEO 4.8 years
CEO Bio

Engineer João Nuno de Sottomayor Pinto de Castello Branco serves as Vice Chairman at Secil - Companhia Geral de Cal e Cimento, S.A. Engineer de Castello Branco has been the Chief Executive Officer of SEMAPA - Sociedade de Investimento e Gestao SGPS SA since July 1, 2015 and serves as its Chairman of Executive Committee. He serves as Managing partners of McKinsey & Company - Iberian Office. He served as Chief Executive Officer of The Navigator Company, S.A. until January 1, 2020. He worked at Renault's engine development centre. He serves as Deputy Chairman of the Board of Directors of Portucel, S.A. He serves as Chairman of The Navigator Company, S.A. and has been its Director since October 5, 2015. He served as Deputy Chairman of The Navigator Company, S.A. He serves as a Director of SEMAPA - Sociedade de Investimento e Gestao SGPS SA since 2015. He serves as a Director of Sodim, SGPS, S.A. and Cimigest, SGPS, S.A. He holds Degree in Mechanical Engineering from Instituto Superior Técnico; MBA from INSEAD (France).

CEO Compensation
  • João Nuno de Sottomayor's compensation has been consistent with company performance over the past year, both up more than 20%.
  • João Nuno de Sottomayor's remuneration is about average for companies of similar size in United Kingdom of Great Britain and Northern Ireland.
Management Team

João Nuno de Sottomayor de Castello Branco

TITLE
Chairman of Executive Committee
COMPENSATION
€1M
TENURE
4.8 yrs

José Miguel Gens Paredes

TITLE
CFO, Head of Investor Relations
COMPENSATION
€880K

Paulo Miguel Ventura

TITLE
Member of Executive Committee & Director
COMPENSATION
€858K

Ricardo dos Santos Pacheco Pires

TITLE
Member of Executive Committee & Director
COMPENSATION
€2M
TENURE
5.8 yrs

Paulo Costa

TITLE
Accountant

Rui Tiago Ramos Gouveia

TITLE
Company Secretary

Susana Coutinho

TITLE
Treasurer
Board of Directors Tenure

Average tenure of the Semapa - Sociedade de Investimento e Gestão SGPS board of directors in years:

8
Average Tenure
  • The tenure for the Semapa - Sociedade de Investimento e Gestão SGPS board of directors is about average.
Board of Directors

Heinz-Peter Elstrodt

TITLE
Chairman of the Board
AGE
62
TENURE
1.3 yrs

João Nuno de Sottomayor de Castello Branco

TITLE
Chairman of Executive Committee
COMPENSATION
€1M
TENURE
5.3 yrs

José Miguel Gens Paredes

TITLE
CFO, Head of Investor Relations
COMPENSATION
€880K
TENURE
14.3 yrs

Paulo Miguel Ventura

TITLE
Member of Executive Committee & Director
COMPENSATION
€858K
TENURE
14.3 yrs

Ricardo dos Santos Pacheco Pires

TITLE
Member of Executive Committee & Director
COMPENSATION
€2M
TENURE
5.8 yrs

Carlos Eduardo Alves

TITLE
Independent Director
COMPENSATION
€78K
TENURE
4.4 yrs

Francisco José Melo e Guedes

TITLE
Director
TENURE
19.3 yrs

José de Oliveira Vitorino

TITLE
Chairman of the Audit Board
COMPENSATION
€20K
TENURE
1.9 yrs

Vítor Manuel Galvão Novais Gonçalves

TITLE
Director
COMPENSATION
€78K
TENURE
10.3 yrs

António Pedro de Carvalho Viana-Baptista

TITLE
Independent Director
COMPENSATION
€128K
AGE
62
TENURE
10.3 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 Semapa - Sociedade de Investimento e Gestão SGPS'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. Semapa - Sociedade de Investimento e Gestão SGPS 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.

SEMU News

Simply Wall St News

SEMU Company Info

Description

Semapa - Sociedade de Investimento e Gestão, SGPS, S.A., through its subsidiaries, produces and sells cellulose pulp and paper and related products. It operates through three segments: Pulp and Paper, Cement and Derivatives, and Environment. The company also produces and sells cement, clinker, ready mixed concrete, aggregates, precast concrete, hydraulic lime, and mortar products; and operates quarries. In addition, it is involved in environment related activities; purchase of wood; and forest and agricultural production, and cutting timber. The company has operations in Portugal, other European countries, the United States, the Middle East, Africa, and Asia. Semapa - Sociedade de Investimento e Gestão, SGPS, S.A. was incorporated in 1991 and is headquartered in Lisbon, Portugal.

Details
Name: Semapa - Sociedade de Investimento e Gestão, SGPS, S.A.
SEMU
Exchange: BATS-CHIXE
Founded: 1991
€639,550,970
80,446,663
Website: http://www.semapa.pt
Address: Semapa - Sociedade de Investimento e Gestão, SGPS, S.A.
Avenida Fontes Pereira de Melo, 14,
10th Floor,
Lisbon,
Lisbon, 1050-121,
Portugal
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTLS SEM Common Shares Euronext Lisbon PT EUR 22. Aug 1995
LSE 0IE9 Common Shares London Stock Exchange GB EUR 22. Aug 1995
BATS-CHIXE SEMU Common Shares BATS 'Chi-X Europe' GB EUR 22. Aug 1995
Number of employees
Current staff
Staff numbers
6,006
Semapa - Sociedade de Investimento e Gestão SGPS employees.
Industry
Paper Products
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/03 19:49
End of day share price update: 2020/04/02 00:00
Last estimates confirmation: 2020/03/10
Last earnings filing: 2020/02/13
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


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.