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Athens Water Supply and Sewerage

ATSE:EYDAP
Snowflake Description

Excellent balance sheet and good value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
EYDAP
ATSE
€797M
Market Cap
  1. Home
  2. GR
  3. Utilities
Company description

Athens Water Supply and Sewerage Company S.A. The last earnings update was 45 days ago. More info.


Add to Portfolio Compare Print
EYDAP Share Price and Events
7 Day Returns
-5.2%
ATSE:EYDAP
-2.8%
Europe Water Utilities
-1.6%
GR Market
1 Year Returns
47%
ATSE:EYDAP
11.4%
Europe Water Utilities
30.7%
GR Market
EYDAP Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Athens Water Supply and Sewerage (EYDAP) -5.2% -3.2% -4.8% 47% 37.2% 17.2%
Europe Water Utilities -2.8% -0.5% 12.8% 11.4% 2% 3.4%
GR Market -1.6% 1.8% 6.2% 30.7% 49.3% -75.1%
1 Year Return vs Industry and Market
  • EYDAP outperformed the Water Utilities industry which returned 11.4% over the past year.
  • EYDAP outperformed the Market in Greece which returned 30.7% over the past year.
Price Volatility
EYDAP
Industry
5yr Volatility vs Market

Value

 Is Athens Water Supply and Sewerage 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 Athens Water Supply and Sewerage 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 Athens Water Supply and Sewerage.

ATSE:EYDAP 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 16.9%
Perpetual Growth Rate 10-Year GR Government Bond Rate 4.9%

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 ATSE:EYDAP
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GR Govt Bond Rate 4.9%
Equity Risk Premium S&P Global 15%
Water Utilities Unlevered Beta Simply Wall St/ S&P Global 0.3
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.3 (1 + (1- 29%) (0.39%))
0.532
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)
= 4.93% + (0.8 * 14.99%)
16.92%

Discounted Cash Flow Calculation for ATSE:EYDAP using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Athens Water Supply and Sewerage 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.

ATSE:EYDAP DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 16.92%)
2020 112.68 Est @ 19.88% 96.37
2021 130.02 Est @ 15.4% 95.11
2022 145.96 Est @ 12.26% 91.31
2023 160.64 Est @ 10.06% 85.95
2024 174.33 Est @ 8.52% 79.77
2025 187.31 Est @ 7.44% 73.30
2026 199.84 Est @ 6.69% 66.89
2027 212.16 Est @ 6.16% 60.73
2028 224.45 Est @ 5.79% 54.95
2029 236.87 Est @ 5.54% 49.60
Present value of next 10 years cash flows €753.00
ATSE:EYDAP DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= €236.87 × (1 + 4.93%) ÷ (16.92% – 4.93%)
€2,072.66
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €2,072.66 ÷ (1 + 16.92%)10
€434.00
ATSE:EYDAP Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €753.00 + €434.00
€1,187.00
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €1,187.00 / 106.50
€11.15
ATSE:EYDAP Discount to Share Price
Calculation Result
Value per share (EUR) From above. €11.15
Current discount Discount to share price of €7.48
= -1 x (€7.48 - €11.15) / €11.15
32.9%

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

Current Discount
Amount off the current price Athens Water Supply and Sewerage is available for.
Intrinsic value
33%
Share price is €7.48 vs Future cash flow value of €11.15
Current Discount Checks
For Athens Water Supply and Sewerage to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Athens Water Supply and Sewerage's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Athens Water Supply and Sewerage's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Athens Water Supply and Sewerage's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Athens Water Supply and Sewerage's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ATSE:EYDAP PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in EUR €0.52
ATSE:EYDAP Share Price ** ATSE (2019-11-11) in EUR €7.48
Europe Water Utilities Industry PE Ratio Median Figure of 10 Publicly-Listed Water Utilities Companies 16.84x
Greece Market PE Ratio Median Figure of 92 Publicly-Listed Companies 16.93x

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

** Primary Listing of Athens Water Supply and Sewerage.

ATSE:EYDAP PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

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

= 7.48 ÷ 0.52

14.47x

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

  • Athens Water Supply and Sewerage is good value based on earnings compared to the Europe Water Utilities industry average.
  • Athens Water Supply and Sewerage is good value based on earnings compared to the Greece market.
Price based on expected Growth
Does Athens Water Supply and Sewerage's expected growth come at a high price?
Raw Data
ATSE:EYDAP PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 14.47x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
Not available
Global Water Utilities Industry PEG Ratio Median Figure of 37 Publicly-Listed Water Utilities Companies 1.06x
Greece Market PEG Ratio Median Figure of 26 Publicly-Listed Companies 1.04x

*Line of best fit is calculated by linear regression .

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

  • Unable to calculate PEG ratio for Athens Water Supply and Sewerage, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Athens Water Supply and Sewerage's assets?
Raw Data
ATSE:EYDAP PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in EUR €8.89
ATSE:EYDAP Share Price * ATSE (2019-11-11) in EUR €7.48
Europe Water Utilities Industry PB Ratio Median Figure of 10 Publicly-Listed Water Utilities Companies 1.65x
Greece Market PB Ratio Median Figure of 134 Publicly-Listed Companies 0.9x
ATSE:EYDAP PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 7.48 ÷ 8.89

0.84x

* Primary Listing of Athens Water Supply and Sewerage.

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

  • Athens Water Supply and Sewerage is good value based on assets compared to the Europe Water Utilities industry average.
X
Value checks
We assess Athens Water Supply and Sewerage'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 Water Utilities 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 Water Utilities industry average (and greater than 0)? (1 check)
  5. Athens Water Supply and Sewerage has a total score of 4/6, 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 Athens Water Supply and Sewerage 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
11.2%
Expected annual growth in earnings per share.
Earnings growth vs Low Risk Savings
Is Athens Water Supply and Sewerage expected to grow at an attractive rate?
  • Athens Water Supply and Sewerage's earnings growth is expected to exceed the low risk savings rate of 4.9%.
Growth vs Market Checks
  • Athens Water Supply and Sewerage's earnings growth is positive but not above the Greece market average.
  • Athens Water Supply and Sewerage's revenue growth is positive but not above the Greece market average.
Annual Growth Rates Comparison
Raw Data
ATSE:EYDAP Future Growth Rates Data Sources
Data Point Source Value (per year)
ATSE:EYDAP Future Earnings per Share Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 11.2%
ATSE:EYDAP Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 0.6%
Europe Water Utilities Industry Earnings Growth Rate Market Cap Weighted Average -0.6%
Europe Water Utilities Industry Revenue Growth Rate Market Cap Weighted Average 0.5%
Greece Market Earnings Growth Rate Market Cap Weighted Average 17.9%
Greece Market Revenue Growth Rate Market Cap Weighted Average 3.7%

*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
ATSE:EYDAP 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.
ATSE:EYDAP Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 323 1
2019-12-31 321 1
2019-11-11
ATSE:EYDAP Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-06-30 321 108 55
2019-03-31 322 110 51
2018-12-31 322 112 48
2018-09-30 326 99 49
2018-06-30 329 85 49
2018-03-31 328 77 46
2017-12-31 327 68 43
2017-09-30 327 54 36
2017-06-30 326 39 29
2017-03-31 328 46 26
2016-12-31 329 52 24
2016-09-30 321 72 17

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Athens Water Supply and Sewerage's earnings are expected to grow by 11.2% yearly, however this is not considered high growth (20% yearly).
  • Athens Water Supply and Sewerage's revenue is expected to grow by 0.6% 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
ATSE:EYDAP 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 Athens Water Supply and Sewerage Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ATSE:EYDAP Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 0.62 0.62 0.62 1.00
2019-12-31 0.56 0.56 0.56 1.00
2019-11-11
ATSE:EYDAP Past Financials Data
Date (Data in EUR Millions) EPS *
2019-06-30 0.52
2019-03-31 0.48
2018-12-31 0.45
2018-09-30 0.46
2018-06-30 0.46
2018-03-31 0.44
2017-12-31 0.41
2017-09-30 0.34
2017-06-30 0.27
2017-03-31 0.25
2016-12-31 0.23
2016-09-30 0.16

*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.
  • Unable to establish if Athens Water Supply and Sewerage will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Athens Water Supply and Sewerage'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.
Athens Water Supply and Sewerage 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.

Past Performance

  How has Athens Water Supply and Sewerage 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 Athens Water Supply and Sewerage's growth in the last year to its industry (Water Utilities).
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.
  • Athens Water Supply and Sewerage's year on year earnings growth rate has been positive over the past 5 years.
  • Athens Water Supply and Sewerage's 1-year earnings growth exceeds its 5-year average (11.3% vs 1.7%)
  • Athens Water Supply and Sewerage's earnings growth has exceeded the Europe Water Utilities industry average in the past year (11.3% vs 6.8%).
Earnings and Revenue History
Athens Water Supply and Sewerage'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 Athens Water Supply and Sewerage Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ATSE:EYDAP Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 320.64 55.05 96.40
2019-03-31 321.53 51.48 94.12
2018-12-31 322.41 47.91 91.85
2018-09-30 325.70 48.68 91.88
2018-06-30 328.99 49.46 91.92
2018-03-31 328.17 46.44 94.50
2017-12-31 327.34 43.43 97.07
2017-09-30 326.79 36.01 96.60
2017-06-30 326.23 28.58 96.12
2017-03-31 327.54 26.32 95.93
2016-12-31 328.85 24.05 95.74
2016-09-30 320.88 17.03 94.20
2016-06-30 326.95 33.96 93.98
2016-03-31 329.58 38.22 92.42
2015-12-31 324.27 43.66 90.98
2015-09-30 325.00 43.65 94.74
2015-06-30 326.30 43.37 90.34
2015-03-31 327.62 45.57 92.58
2014-12-31 326.39 41.92 91.68
2014-09-30 318.49 43.47 83.81
2014-06-30 327.00 59.88 97.25
2014-03-31 333.70 57.96 91.09
2013-12-31 336.17 78.16 89.45
2013-09-30 348.79 79.05 86.38
2013-06-30 352.22 70.88 71.64
2013-03-31 350.35 70.98 71.00
2012-12-31 353.34 51.62 69.73

*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.
  • Athens Water Supply and Sewerage has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Athens Water Supply and Sewerage used its assets less efficiently than the Europe Water Utilities industry average last year based on Return on Assets.
  • Athens Water Supply and Sewerage has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Athens Water Supply and Sewerage'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 Water Utilities 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.
Athens Water Supply and Sewerage 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 Athens Water Supply and Sewerage'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 Athens Water Supply and Sewerage's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Athens Water Supply and Sewerage is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Athens Water Supply and Sewerage's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Athens Water Supply and Sewerage'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 1.4690449250507E+18x 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 Athens Water Supply and Sewerage Company Filings, last reported 4 months ago.

ATSE:EYDAP Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 946.99 0.00 429.53
2019-03-31 946.99 0.00 429.53
2018-12-31 949.23 0.00 383.55
2018-09-30 949.23 0.00 383.55
2018-06-30 918.52 0.00 322.08
2018-03-31 918.52 0.00 322.08
2017-12-31 942.03 0.00 294.92
2017-09-30 942.03 0.00 294.92
2017-06-30 909.45 0.00 264.85
2017-03-31 909.45 0.00 264.85
2016-12-31 904.77 0.00 280.54
2016-09-30 904.77 0.00 280.54
2016-06-30 942.29 0.00 310.11
2016-03-31 942.29 0.00 310.11
2015-12-31 966.94 0.00 260.42
2015-09-30 942.41 0.00 254.54
2015-06-30 917.06 0.00 230.06
2015-03-31 930.39 0.00 243.48
2014-12-31 921.31 0.00 233.31
2014-09-30 950.37 0.00 229.30
2014-06-30 925.57 0.00 222.79
2014-03-31 956.09 0.00 270.46
2013-12-31 950.62 3.14 331.97
2013-09-30 897.69 65.76 70.21
2013-06-30 861.48 123.74 61.23
2013-03-31 869.07 160.48 31.01
2012-12-31 843.66 185.48 43.11
  • Athens Water Supply and Sewerage's level of debt (0%) compared to net worth is satisfactory (less than 40%).
  • Unable to establish if Athens Water Supply and Sewerage's debt level has increased without past 5-year debt data.
  • Debt is well covered by operating cash flow (2.4301423589291E+19%, greater than 20% of total debt).
  • Athens Water Supply and Sewerage earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Athens Water Supply and Sewerage'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. Athens Water Supply and Sewerage 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 Athens Water Supply and Sewerage'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
3.61%
Current annual income from Athens Water Supply and Sewerage dividends. Estimated to be 2.7% next year.
If you bought €2,000 of Athens Water Supply and Sewerage shares you are expected to receive €72 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?
  • Athens Water Supply and Sewerage's pays a higher dividend yield than the bottom 25% of dividend payers in Greece (1.86%).
  • Athens Water Supply and Sewerage's dividend is below the markets top 25% of dividend payers in Greece (3.66%).
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
ATSE:EYDAP 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 Water Utilities Industry Average Dividend Yield Market Cap Weighted Average of 11 Stocks 4.6%
Greece Market Average Dividend Yield Market Cap Weighted Average of 50 Stocks 4%
Greece Minimum Threshold Dividend Yield 10th Percentile 1.2%
Greece Bottom 25% Dividend Yield 25th Percentile 1.9%
Greece 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.

ATSE:EYDAP Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 0.22 1.00
2019-12-31 0.19 1.00
2019-11-11
ATSE:EYDAP Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-04-05 0.270 3.780
2018-04-03 0.200 3.695
2017-04-07 0.110 1.838
2016-03-31 0.310 5.833
2015-03-30 0.200 3.994
2014-03-28 0.380 5.184
2013-07-01 0.150 2.030
2012-03-30 0.170 4.082
2011-03-30 0.040 1.091
2011-03-29 0.040 0.744
2010-03-01 0.020 0.386
2010-01-15 0.020 0.347
2009-01-15 0.130 2.143
2008-12-31 0.130 2.352

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 Athens Water Supply and Sewerage's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.9x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Athens Water Supply and Sewerage's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.2%) - 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 Athens Water Supply and Sewerage afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Athens Water Supply and Sewerage 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 Athens Water Supply and Sewerage'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
Harry Sachinis
AGE 61
TENURE AS CEO 0.4 years
CEO Bio

Mr. Charalambos Sachinis also known as Harry, has been Chief Executive Officer & Executive Director at Athens Water Supply and Sewerage Company S.A. since June 26, 2019. Since 2017 he held the position of the Business Development Officer at Aegean Airlines. Previously, he held positions such as Partner at Global Finance, and Operating Partner at Advent International. From 2009 to 2014 he was the Chairman and CEO of DEPA Group where he improved business efficiency, negotiated and completed major supply contracts, and contributed in the shaping of alternative gas supply routes to Europe. From 2004 to 2009 he served as a President of the McGraw-Hill Companies’ Business Information Group, which he made into one of the top global business-to-business information companies, specializing in the aerospace and defence, construction and energy industries. Earlier, he was President of Platts, which he built into the world’s largest energy price and information provider. He actively promoted transparency and integrity in the global energy markets. He was also Group Vice President of Standard & Poor’s, where he grew key strategic businesses in the financial information sector. He is a Member of the Boards of Directors of ICAP, of ATHEXClear, of ENEXClear, and of the Atlantic Council, and on the Investment Committee of CNL Capital. He holds an engineering degree from the National Technical University of Athens, Greece and an MBA from Harvard Business School.

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

Average tenure and age of the Athens Water Supply and Sewerage management team in years:

0.5
Average Tenure
47
Average Age
  • The average tenure for the Athens Water Supply and Sewerage management team is less than 2 years, this suggests a new team.
Management Team

Harry Sachinis

TITLE
CEO & Executive Director
AGE
61
TENURE
0.4 yrs

Leventi Maria

TITLE
CFO & Director of the Economic Department

Dimitra Zarkadoula

TITLE
Chief Accountant Supervisor & Head of Accounting Department

O. Panagiotopoulou

TITLE
Director of Administration

Ioannis Moutzouridis

TITLE
Director of Legal Services & Legal Advisor to the Board of Directors
AGE
44
TENURE
4.3 yrs

Antigoni Sinodinou

TITLE
Head of Internal Department of Safety & Prevention

Angigoni Sinodinou

TITLE
Executive Director of Coordination & Supportive Operations
TENURE
0.5 yrs

Anastasios Tossios

TITLE
Deputy CEO & Executive Director
AGE
47
TENURE
0.4 yrs

Christina Kontaratou

TITLE
Secretary

Stefanos Georgiadis

TITLE
Consultant to the CEO & Engineering Consultant
TENURE
9.5 yrs
Board of Directors Tenure

Average tenure and age of the Athens Water Supply and Sewerage board of directors in years:

2.1
Average Tenure
47
Average Age
  • The average tenure for the Athens Water Supply and Sewerage board of directors is less than 3 years, this suggests a new board.
Board of Directors

Theodora Varvarigou

TITLE
Chairman of the Board
TENURE
0.4 yrs

Harry Sachinis

TITLE
CEO & Executive Director
AGE
61
TENURE
0.4 yrs

Anastasios Tossios

TITLE
Deputy CEO & Executive Director
AGE
47
TENURE
0.4 yrs

Michail Stavroulakis

TITLE
Independent Non-Executive Director
TENURE
4.3 yrs

Chris Mistriotis

TITLE
Non-Executive Director
AGE
43

Panos Skoularikis

TITLE
Non-Executive Director
AGE
47
TENURE
9.3 yrs

Emmanouel Aggelakis

TITLE
Non-Executive Director
AGE
55
TENURE
10.6 yrs

Alexandros Pouliasis

TITLE
Independent Non-Executive Director
AGE
42
TENURE
3.8 yrs

Georgios Alexandrakis

TITLE
Non-Executive Director
AGE
43
TENURE
2.1 yrs

Ekaterini Beritsi

TITLE
Independent Non-Executive Member
TENURE
0.4 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 Athens Water Supply and Sewerage'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. Athens Water Supply and Sewerage 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

Is There Now An Opportunity In Athens Water Supply and Sewerage Company S.A. (ATH:EYDAP)?

Athens Water Supply and Sewerage Company S.A. … The stock’s ratio of 17.45x is currently trading slightly above its industry peers’ ratio of 15.93x, which means if you buy Athens Water Supply and Sewerage today, you’d be paying a relatively fair price for it. … And if you believe that Athens Water Supply and Sewerage should be trading at this level in the long run, there’s only an insignificant downside when the price falls to its real value.

Simply Wall St -

Despite Its High P/E Ratio, Is Athens Water Supply and Sewerage Company S.A. (ATH:EYDAP) Still Undervalued?

We'll apply a basic P/E ratio analysis to Athens Water Supply and Sewerage Company S.A.'s (ATH:EYDAP), to help you decide if the stock is worth further research. … The formula for P/E is: Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS) Or for Athens Water Supply and Sewerage: P/E of 16.85 = €7.58 ÷ €0.45 (Based on the year to December 2018.) Is A High Price-to-Earnings Ratio Good? … The Verdict On Athens Water Supply and Sewerage's P/E Ratio Athens Water Supply and Sewerage has a P/E of 16.9.

Simply Wall St -

Can You Imagine How Athens Water Supply and Sewerage's (ATH:EYDAP) Shareholders Feel About The 40% Share Price Increase?

(ATH:EYDAP) share price is 40% higher than it was a year ago, much better than the market return of around 11% (not including dividends) in the same period. … Check out our latest analysis for Athens Water Supply and Sewerage While markets are a powerful pricing mechanism, share prices reflect investor sentiment, not just underlying business performance. … A Different Perspective We're pleased to report that Athens Water Supply and Sewerage shareholders have received a total shareholder return of 46% over one year.

Simply Wall St -

Why Athens Water Supply and Sewerage Company S.A.’s (ATH:EYDAP) Use Of Investor Capital Doesn’t Look Great

Analysts use this formula to calculate return on capital employed: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for Athens Water Supply and Sewerage: 0.034 = €51m ÷ (€1.5b - €63m) (Based on the trailing twelve months to December 2018.) So, Athens Water Supply and Sewerage has an ROCE of 3.4%. … Do Athens Water Supply and Sewerage's Current Liabilities Skew Its ROCE? … Athens Water Supply and Sewerage has a low level of current liabilities, which have a negligible impact on its already low ROCE.

Simply Wall St -

These Factors Make Athens Water Supply and Sewerage Company S.A. (ATH:EYDAP) An Interesting Investment

Athens Water Supply and Sewerage Company S.A. … For those interested in digger a bit deeper into my commentary, read the full report on Athens Water Supply and Sewerage here. … ATSE:EYDAP Intrinsic value, June 5th 2019 Next Steps: For Athens Water Supply and Sewerage, I've compiled three key factors you should look at: Future Outlook: What are well-informed industry analysts predicting for EYDAP’s future growth?

Simply Wall St -

Does The Athens Water Supply and Sewerage Company S.A. (ATH:EYDAP) Share Price Tend To Follow The Market?

Some investors use beta as a measure of how much a certain stock is impacted by market risk (volatility). … View our latest analysis for Athens Water Supply and Sewerage What EYDAP's beta value tells investors Given that it has a beta of 1.15, we can surmise that the Athens Water Supply and Sewerage share price has been fairly sensitive to market volatility (over the last 5 years). … What this means for you: Since Athens Water Supply and Sewerage has a reasonably high beta, it's worth considering why it is so heavily influenced by broader market sentiment.

Simply Wall St -

Should You Investigate Athens Water Supply and Sewerage Company S.A. (ATH:EYDAP) At €6.00?

Athens Water Supply and Sewerage Company S.A. … (ATH:EYDAP), which is in the water utilities business, and is based in Greece,. … Today I will analyse the most recent data on Athens Water Supply and Sewerage’s outlook and valuation to see if the opportunity still exists

Simply Wall St -

Should Athens Water Supply and Sewerage Company S.A. (ATH:EYDAP) Be Part Of Your Dividend Portfolio?

Historically, Athens Water Supply and Sewerage Company S.A. … Does Athens Water Supply and Sewerage tick all the boxes of a great dividend stock? … View our latest analysis for Athens Water Supply and Sewerage

Simply Wall St -

How Do Athens Water Supply and Sewerage Company S.A.’s (ATH:EYDAP) Returns Compare To Its Industry?

Specifically, we're going to calculate its Return On Capital Employed (ROCE), in the hopes of getting some insight into the business. … What is Return On Capital Employed (ROCE)? … ROCE measures the amount of pre-tax profits a company can generate from the capital employed in its business.

Simply Wall St -

What Investors Should Know About Athens Water Supply and Sewerage Company S.A.'s (ATH:EYDAP) Financial Strength

(ATH:EYDAP), which has zero-debt on its balance sheet, can maximize capital returns by increasing debt due to its lower cost of capital. … Is EYDAP growing fast enough to value financial flexibility over lower cost of capital … Debt capital generally has lower cost of capital compared to equity funding.

Simply Wall St -

Company Info

Description

Athens Water Supply and Sewerage Company S.A. engages in water supply, and sewerage and waste management activities in Greece. The company is involved in the analysis, construction, establishment, operation, exploitation, maintenance, expansion, and modernization/renewal of water supply and sewerage installation and networks. It operates a water distribution network of 8,500 kilometers; 4 units of water refining with a total daily capacity of 1.8 million cubic water meters; a sewerage network of 6,000 kilometers, which primarily includes main collectors system and the secondary sewerage network; and 3 waste management centers in Psitalia, Metamorphosi, and Thriasio. The company also engages in irrigation and rain water collection activities. In addition, it produces electric energy through hydro, biogas, natural gas, and thermal energy sources. Athens Water Supply and Sewerage S.A. is headquartered in Athens, Greece.

Details
Name: Athens Water Supply and Sewerage Company S.A.
EYDAP
Exchange: ATSE
Founded:
€796,620,000
106,500,000
Website: http://www.eydap.gr
Address: Athens Water Supply and Sewerage Company S.A.
156 Oropou Street,
Galatsi,
Athens,
11146,
Greece
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ATSE EYDAP Ordinary Shares The Athens Stock Exchange GR EUR 31. Jan 2000
OTCPK AHWS.F Ordinary Shares Pink Sheets LLC US USD 31. Jan 2000
DB EYP Ordinary Shares Deutsche Boerse AG DE EUR 31. Jan 2000
Number of employees
Current staff
Staff numbers
2,240
Athens Water Supply and Sewerage employees.
Industry
Water Utilities
Utilities
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/11/11 20:33
End of day share price update: 2019/11/11 00:00
Last estimates confirmation: 2019/10/16
Last earnings filing: 2019/09/27
Last earnings reported: 2019/06/30
Last annual earnings reported: 2018/12/31


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

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.