Loading...

We've got a brand new version of Simply Wall St! Try it out

Havila Shipping

OB:HAVI
Snowflake Description

Imperfect balance sheet with weak fundamentals.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
HAVI
OB
NOK95M
Market Cap
  1. Home
  2. NO
  3. Energy
Company description

Havila Shipping ASA, together with its subsidiaries, engages in the shipping business. The last earnings update was 22 days ago. More info.


Add to Portfolio Compare Print
HAVI Share Price and Events
7 Day Returns
24.2%
OB:HAVI
-0.3%
NO Energy Services
1.6%
NO Market
1 Year Returns
-44.1%
OB:HAVI
-32.6%
NO Energy Services
-8.3%
NO Market
HAVI Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Havila Shipping (HAVI) 24.2% 12.7% 0% -44.1% -97.4% -99.9%
NO Energy Services -0.3% 14.9% -3.1% -32.6% 12.6% -56.2%
NO Market 1.6% 7.6% 2.7% -8.3% 31.1% 16.1%
1 Year Return vs Industry and Market
  • HAVI underperformed the Energy Services industry which returned -32.6% over the past year.
  • HAVI underperformed the Market in Norway which returned -8.3% over the past year.
Price Volatility
HAVI
Industry
5yr Volatility vs Market

Value

 Is Havila Shipping 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 Havila Shipping 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 Havila Shipping.

OB:HAVI Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 13.7%
Perpetual Growth Rate 10-Year NO Government Bond Rate 1.8%

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 OB:HAVI
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year NO Govt Bond Rate 1.8%
Equity Risk Premium S&P Global 6%
Energy Services Unlevered Beta Simply Wall St/ S&P Global 1.08
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.083 (1 + (1- 23%) (4468.36%))
26.02
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)
= 1.76% + (2 * 5.96%)
13.68%

Discounted Cash Flow Calculation for OB:HAVI using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Havila Shipping 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.

OB:HAVI DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (NOK, Millions) Source Present Value
Discounted (@ 13.68%)
2020 3.47 Est @ -16.59% 3.05
2021 3.08 Est @ -11.09% 2.39
2022 2.86 Est @ -7.23% 1.95
2023 2.73 Est @ -4.53% 1.64
2024 2.66 Est @ -2.65% 1.40
2025 2.62 Est @ -1.32% 1.22
2026 2.61 Est @ -0.4% 1.07
2027 2.62 Est @ 0.25% 0.94
2028 2.64 Est @ 0.7% 0.83
2029 2.67 Est @ 1.02% 0.74
Present value of next 10 years cash flows NOK15.00
OB:HAVI DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= NOK2.67 × (1 + 1.76%) ÷ (13.68% – 1.76%)
NOK22.75
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= NOK22.75 ÷ (1 + 13.68%)10
NOK6.31
OB:HAVI Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= NOK15.00 + NOK6.31
NOK21.31
Equity Value per Share
(NOK)
= Total value / Shares Outstanding
= NOK21.31 / 23.78
NOK0.9
OB:HAVI Discount to Share Price
Calculation Result
Value per share (NOK) From above. NOK0.90
Current discount Discount to share price of NOK4.00
= -1 x (NOK4.00 - NOK0.90) / NOK0.90
-346.2%

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

  • The current share price of Havila Shipping 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 Havila Shipping's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Havila Shipping's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OB:HAVI PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in NOK NOK-45.74
OB:HAVI Share Price ** OB (2019-09-19) in NOK NOK4
Norway Energy Services Industry PE Ratio Median Figure of 14 Publicly-Listed Energy Services Companies 18.05x
Norway Market PE Ratio Median Figure of 149 Publicly-Listed Companies 13.35x

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

** Primary Listing of Havila Shipping.

OB:HAVI PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= OB:HAVI Share Price ÷ EPS (both in NOK)

= 4 ÷ -45.74

-0.09x

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

  • Havila Shipping is loss making, we can't compare its value to the NO Energy Services industry average.
  • Havila Shipping is loss making, we can't compare the value of its earnings to the Norway market.
Price based on expected Growth
Does Havila Shipping's expected growth come at a high price?
Raw Data
OB:HAVI PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -0.09x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
Norway Energy Services Industry PEG Ratio Median Figure of 10 Publicly-Listed Energy Services Companies 0.68x
Norway Market PEG Ratio Median Figure of 110 Publicly-Listed Companies 0.77x

*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 Havila Shipping, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Havila Shipping's assets?
Raw Data
OB:HAVI PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in NOK NOK-36.26
OB:HAVI Share Price * OB (2019-09-19) in NOK NOK4
Norway Energy Services Industry PB Ratio Median Figure of 35 Publicly-Listed Energy Services Companies 0.64x
Norway Market PB Ratio Median Figure of 239 Publicly-Listed Companies 1.12x
OB:HAVI PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= OB:HAVI Share Price ÷ Book Value per Share (both in NOK)

= 4 ÷ -36.26

-0.11x

* Primary Listing of Havila Shipping.

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

  • Havila Shipping has negative assets, we can't compare the value of its assets to the NO Energy Services industry average.
X
Value checks
We assess Havila Shipping'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 Energy Services 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 Energy Services industry average (and greater than 0)? (1 check)
  5. Havila Shipping has a total score of 0/6, 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 Havila Shipping expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Havila Shipping has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

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
39.4%
Expected Energy Services industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Havila Shipping expected to grow at an attractive rate?
  • Unable to compare Havila Shipping's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Havila Shipping's earnings growth to the Norway market average as no estimate data is available.
  • Unable to compare Havila Shipping's revenue growth to the Norway market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
OB:HAVI Future Growth Rates Data Sources
Data Point Source Value (per year)
Norway Energy Services Industry Earnings Growth Rate Market Cap Weighted Average 39.4%
Norway Energy Services Industry Revenue Growth Rate Market Cap Weighted Average 11.4%
Norway Market Earnings Growth Rate Market Cap Weighted Average 14.8%
Norway Market Revenue Growth Rate Market Cap Weighted Average 4.4%

*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
OB:HAVI Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in NOK Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OB:HAVI Future Estimates Data
Date (Data in NOK Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
OB:HAVI Past Financials Data
Date (Data in NOK Millions) Revenue Cash Flow Net Income *
2019-06-30 651 48 -1,076
2019-03-31 612 1 -1,152
2018-12-31 591 -35 -1,140
2018-09-30 569 -102 767
2018-06-30 579 -128 803
2018-03-31 569 -169 831
2017-12-31 587 -227 775
2017-09-30 695 -53 -1,384
2017-06-30 772 90 -1,392
2017-03-31 884 228 -1,370
2016-12-31 1,080 412 -1,202
2016-09-30 1,205 368 -1,561

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Havila Shipping is high growth as no earnings estimate data is available.
  • Unable to determine if Havila Shipping is high growth as no revenue estimate data is available.
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
OB:HAVI Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Havila Shipping Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OB:HAVI Future Estimates Data
Date (Data in NOK Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
OB:HAVI Past Financials Data
Date (Data in NOK Millions) EPS *
2019-06-30 -45.74
2019-03-31 -49.83
2018-12-31 -51.87
2018-09-30 37.62
2018-06-30 41.63
2018-03-31 45.50
2017-12-31 53.16
2017-09-30 -134.45
2017-06-30 -240.92
2017-03-31 -1,015.88
2016-12-31 -3,983.85
2016-09-30 -5,172.43

*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 Havila Shipping will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Havila Shipping's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Energy companies here
  2. Havila Shipping's competitive advantages and company strategy can generally be found in its financial reports archived here.
  3. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess Havila Shipping'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 Norway market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Norway 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.
Havila Shipping has a total score of 0/6, 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 Havila Shipping 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 Havila Shipping's growth in the last year to its industry (Energy Services).
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.
  • Havila Shipping does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Havila Shipping's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Havila Shipping's 1-year growth to the NO Energy Services industry average as it is not currently profitable.
Earnings and Revenue History
Havila Shipping'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 Havila Shipping Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OB:HAVI Past Revenue, Cash Flow and Net Income Data
Date (Data in NOK Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 650.84 -1,076.20 3.80
2019-03-31 612.20 -1,151.80 3.80
2018-12-31 590.69 -1,140.29 3.80
2018-09-30 569.29 766.83 4.16
2018-06-30 578.52 803.15 4.16
2018-03-31 569.47 831.03 4.16
2017-12-31 586.85 774.63 4.16
2017-09-30 694.87 -1,384.06 5.48
2017-06-30 772.43 -1,391.71 5.48
2017-03-31 884.41 -1,369.77 5.48
2016-12-31 1,079.79 -1,202.31 5.48
2016-09-30 1,204.78 -1,561.02 4.72
2016-06-30 1,352.70 -1,568.01 4.72
2016-03-31 1,501.33 -1,430.88 4.72
2015-12-31 1,570.01 -1,526.66 4.72
2015-09-30 1,651.01 -205.89 4.60
2015-06-30 1,754.60 -61.43 4.60
2015-03-31 1,754.00 -98.68 4.60
2014-12-31 1,723.25 3.59 4.60
2014-09-30 1,649.54 74.51 3.78
2014-06-30 1,548.35 69.39 3.78
2014-03-31 1,508.51 79.12 3.78
2013-12-31 1,454.44 13.48 3.78
2013-09-30 1,401.45 54.00 3.47
2013-06-30 1,349.47 25.45 3.47
2013-03-31 1,336.39 -24.49 3.47
2012-12-31 1,350.24 0.21 3.47
2012-09-30 1,412.29 -11.57 3.20

*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.
  • It is difficult to establish if Havila Shipping has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) due to its liabilities exceeding its assets.
  • It is difficult to establish if Havila Shipping has efficiently used its assets last year compared to the NO Energy Services industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Havila Shipping improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Havila Shipping'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 Energy Services 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.
Havila Shipping has a total score of 0/6, 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 Havila Shipping'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 Havila Shipping's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Havila Shipping is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Havila Shipping's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Havila Shipping'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.
  • Havila Shipping has negative shareholder equity (liabilities exceed assets) therefore debt is not covered by short term assets.
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 Havila Shipping Company Filings, last reported 2 months ago.

OB:HAVI Past Debt and Equity Data
Date (Data in NOK Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 -862.15 4,124.68 97.21
2019-03-31 -804.49 4,110.03 67.05
2018-12-31 -712.54 4,105.70 75.95
2018-09-30 121.31 4,049.23 85.42
2018-06-30 213.16 4,073.85 133.04
2018-03-31 346.32 4,049.52 190.79
2017-12-31 423.14 4,145.25 238.91
2017-09-30 556.47 4,155.33 298.17
2017-06-30 608.98 4,229.67 355.11
2017-03-31 713.81 4,299.63 442.81
2016-12-31 -699.94 5,596.59 544.32
2016-09-30 385.76 5,556.30 441.18
2016-06-30 454.32 5,589.60 349.69
2016-03-31 534.72 5,575.39 266.88
2015-12-31 502.41 5,643.87 196.35
2015-09-30 1,933.75 5,727.61 309.26
2015-06-30 2,012.16 5,756.01 315.55
2015-03-31 1,956.48 5,935.35 368.88
2014-12-31 2,022.10 5,913.85 328.01
2014-09-30 2,147.91 5,942.35 338.19
2014-06-30 2,075.49 5,993.76 342.10
2014-03-31 2,058.47 6,068.20 529.51
2013-12-31 2,021.61 5,933.49 387.10
2013-09-30 2,075.00 6,038.43 391.59
2013-06-30 2,008.33 6,106.70 431.51
2013-03-31 1,988.80 6,101.33 383.69
2012-12-31 2,002.44 6,261.46 485.70
2012-09-30 1,823.90 5,684.46 416.93
  • Havila Shipping has negative shareholder equity (liabilities exceed assets), this is a more serious situation compared with a high debt level.
  • Irrelevant to check if Havila Shipping's debt level has increased considering it has negative shareholder equity.
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Havila Shipping has sufficient cash runway for more than 3 years based on current free cash flow.
  • Unable to confirm if Havila Shipping has at least 1 year of cash runway based on growing free cash flows without relevant data.
X
Financial health checks
We assess Havila Shipping'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. Havila Shipping has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


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

Dividends

 What is Havila Shipping'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
0%
Current annual income from Havila Shipping dividends.
If you bought NOK2,000 of Havila Shipping shares you are expected to receive NOK0 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?
  • Unable to evaluate Havila Shipping's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Havila Shipping's dividend against the top 25% market benchmark as the company has not reported any payouts.
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
OB:HAVI 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 0 Analyst Estimates (S&P Global) See Below
Norway Energy Services Industry Average Dividend Yield Market Cap Weighted Average of 8 Stocks 4.2%
Norway Market Average Dividend Yield Market Cap Weighted Average of 115 Stocks 4.4%
Norway Minimum Threshold Dividend Yield 10th Percentile 1.5%
Norway Bottom 25% Dividend Yield 25th Percentile 2.5%
Norway Top 25% Dividend Yield 75th Percentile 6.4%

Industry and Market average data is calculated daily.

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

OB:HAVI Future Dividends Estimate Data
Date (Data in NOK) Dividend per Share (annual) Avg. No. Analysts
OB:HAVI Past Annualized Dividends Data
Date (Data in NOK) Dividend per share (annual) Avg. Yield (%)
2010-01-29 0.000 0.000
2009-10-23 0.000 0.000
2009-07-30 0.000 0.000
2009-04-29 0.000 0.000
2009-02-27 0.000 0.000
2009-02-05 0.000 0.000

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

  • Unable to perform a dividend volatility check as Havila Shipping has not reported any payouts.
  • Unable to verify if Havila Shipping's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Havila Shipping's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Havila Shipping has not reported any payouts.
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 Havila Shipping's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.5%) - 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 Havila Shipping afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Havila Shipping has a total score of 0/6, 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 Havila Shipping'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
Njål Sævik
COMPENSATION NOK1,472,000
AGE 50
TENURE AS CEO 16.7 years
CEO Bio

Mr. Njål Sævik has been the Chief Executive Officer at Havila Shipping ASA since 2003 and serves as its Managing Director. Mr. Sævik is a Director of Axxis Geo Solutions AS. Mr. Sævik has been with offshore related business since 1986, first as seaman thereafter in various administrative positions. He served as Deputy Managing Director of Bourbon Offshore Norway AS. Mr. Sævik served as the Chairman of the Board at ODIM ASA. He served as a Director of Havila Shipping ASA. He served as a Deputy Director of Fjord1 AS. He served as a Member of Supervisory Board at BN Bank ASA. Mr. Sævik is educated as captain and within Administration and Management from the Ålesund College in 1994.

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

Average tenure of the Havila Shipping management team in years:

11.2
Average Tenure
  • The average tenure for the Havila Shipping management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Njål Sævik

TITLE
CEO, MD & Administration Director
COMPENSATION
NOK1M
AGE
50
TENURE
16.7 yrs

Arne Dale

TITLE
Chief Financial Officer
TENURE
11.2 yrs

Runar Smadal

TITLE
Human Resource Director

Olav Vikebakk

TITLE
Deputy Managing Director
TENURE
1.1 yrs
Board of Directors Tenure

Average tenure and age of the Havila Shipping board of directors in years:

3.4
Average Tenure
57
Average Age
  • The tenure for the Havila Shipping board of directors is about average.
Board of Directors

Jostein Sætrenes

TITLE
Chairman
AGE
55
TENURE
2.3 yrs

Helge Aarseth

TITLE
Deputy Chairman
AGE
72

Jogeir Romestrand

TITLE
Director
AGE
58
TENURE
2.3 yrs

Hege Rabben

TITLE
Director
AGE
48
TENURE
16.7 yrs

Nina Skage

TITLE
Director
AGE
57
TENURE
4.4 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 (NOK) Value (NOK)
X
Management checks
We assess Havila Shipping'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. Havila Shipping 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 Havila Shipping (OB:HAVI) A Risky Investment?

OB:HAVI Historical Debt, August 30th 2019 How Strong Is Havila Shipping's Balance Sheet? … We can see from the most recent balance sheet that Havila Shipping had liabilities of kr172.9m falling due within a year, and liabilities of kr4.26b due beyond that. … But it is Havila Shipping's earnings that will influence how the balance sheet holds up in the future.

Simply Wall St -

Do Institutions Own Shares In Havila Shipping ASA (OB:HAVI)?

A look at the shareholders of Havila Shipping ASA (OB:HAVI) can tell us which group is most powerful. … Check out our latest analysis for Havila Shipping OB:HAVI Ownership Summary, July 10th 2019 What Does The Institutional Ownership Tell Us About Havila Shipping? … Insider Ownership Of Havila Shipping The definition of an insider can differ slightly between different countries, but members of the board of directors always count.

Simply Wall St -

Should You Be Concerned About Havila Shipping ASA's (OB:HAVI) Historical Volatility?

In finance, Beta is a measure of volatility. … Some investors use beta as a measure of how much a certain stock is impacted by market risk (volatility). … While we should keep in mind that Warren Buffett has cautioned that 'Volatility is far from synonymous with risk', beta is still a useful factor to consider.

Simply Wall St -

How Much Of Havila Shipping ASA (OB:HAVI) Do Institutions Own?

A look at the shareholders of Havila Shipping ASA (OB:HAVI) can tell us which group is most powerful. … Institutions often own shares in more established companies, while it's not unusual to see insiders own a fair bit of smaller companies. … Havila Shipping is a smaller company with a market capitalization of øre82m, so it may still be flying under the radar of many institutional investors.

Simply Wall St -

One Thing To Remember About The Havila Shipping ASA (OB:HAVI) Share Price

If you're interested in Havila Shipping ASA (OB:HAVI), then you might want to consider its beta (a measure of share price volatility) in order to understand how the stock could impact your portfolio. … Beta is a widely used metric to measure a stock's exposure to market risk (volatility). … The first thing to understand about beta is that the beta of the overall market is one.

Simply Wall St -

Does Havila Shipping ASA (OB:HAVI) Fall With The Market?

The first type is company-specific risk, which can be diversified away by investing in other companies to reduce exposure to one particular stock. … The other type of risk, which cannot be diversified away, is market risk. … Every stock in the market is exposed to this risk, which arises from macroeconomic factors such as economic growth and geo-political tussles just to name a few.

Simply Wall St -

Who Are Havila Shipping ASA's (OB:HAVI) Major Shareholders?

See our latest analysis for Havila Shipping OB:HAVI Ownership_summary May 7th 18 Institutional Ownership In HAVI's case, institutional ownership stands at 19.69%, significant enough to cause considerable price moves in the case of large institutional transactions, especially when there is a low level of public shares available on the market to trade. … This size of ownership gives retail investors collective power in deciding on major policy decisions such as executive compensation, appointment of directors and acquisitions of businesses. … Thus, investors not need worry too much about the consequences of these holdings.Next Steps: The company's high institutional ownership makes margin of safety a very important consideration to existing investors since long bull and bear trends often emerge when these big-ticket investors see a change in long-term potential of the company.

Simply Wall St -

Why You Need To Look At This Factor Before Buying Havila Shipping ASA (OB:HAVI)

HAVI's beta implies it may be a stock that investors with high-beta portfolios might find relevant if they wanted to reduce their exposure to market risk, especially during times of downturns. … With a market cap of ØRE215.12M, HAVI falls within the small-cap spectrum of stocks, which are found to experience higher relative risk compared to larger companies. … However, this is the opposite to what HAVI’s actual beta value suggests, which is lower stock volatility relative to the market.

Simply Wall St -

Havila Shipping ASA (OB:HAVI): Time For A Financial Health Check

How does HAVI’s operating cash flow stack up against its debt? … With this reduction in debt, the current cash and short-term investment levels stands at ØRE238.54M for investing into the business. … Maintaining a high level of debt, while revenues are still below costs, can be dangerous as liquidity tends to dry up in unexpected downturns.Next Steps: HAVI’s cash flow coverage indicates it could improve its operating efficiency in order to meet demand for debt repayments should unforeseen events arise.

Simply Wall St -

Havila Shipping ASA (OB:HAVI): Has Recent Earnings Growth Beaten Long-Term Trend?

Today I will take a look at Havila Shipping ASA's (OB:HAVI) most recent earnings update (31 December 2017) and compare these latest figures against its performance over the past few years, as well as how the rest of the energy services industry performed. … Check out our latest analysis for Havila Shipping How Did HAVI's Recent Performance Stack Up Against Its Past? … For Havila Shipping, its most recent trailing-twelve-month earnings is -ØRE435.33M, which, against the previous year's level, has become less negative.

Simply Wall St -

Company Info

Description

Havila Shipping ASA, together with its subsidiaries, engages in the shipping business. It manages and operates offshore service vessels primarily in the Norwegian, British, and Danish sectors of the North Sea; and Asia, Brazil, Gabonese Republic, and Netherlands. The company operates a fleet of 23 vessels, including 5 anchor handling vessels, 14 platform supply vessels, a rescue recovery vessel, and 3 subsea vessels. Its anchor handling tug and supply vessels are used for moving rigs and putting out anchors, as well as for supply services; platform supply vessels are used to carry goods, water, drilling mud, chemicals, etc. to and from the offshore installations; subsea vessels are used for under water construction work, as well as for support for under water operations; and rescue-and recovery vessels are used to offer security services, such as oil spill preparedness, fire protection, and rescue operation. The company was founded in 2003 and is headquartered in Fosnavåg, Norway. Havila Shipping ASA is a subsidiary of Havila Holding AS.

Details
Name: Havila Shipping ASA
HAVI
Exchange: OB
Founded: 2003
NOK95,105,200
23,776,300
Website: http://www.havilashipping.no
Address: Havila Shipping ASA
Mjølstadnesvegen 24,
Fosnavåg,
Møre og Romsdal, 6092,
Norway
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OB HAVI Ordinary Shares Oslo Bors NO NOK 02. Mar 2005
LSE 0LGI Ordinary Shares London Stock Exchange GB NOK 02. Mar 2005
BATS-CHIXE HAVIO Ordinary Shares BATS 'Chi-X Europe' GB NOK 02. Mar 2005
Number of employees
Current staff
Staff numbers
485
Havila Shipping employees.
Industry
Oil and Gas Equipment and Services
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/09/19 20:46
End of day share price update: 2019/09/19 00:00
Last estimates confirmation: 2017/03/01
Last earnings filing: 2019/08/28
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.