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Vivo Energy

JSE:VVO
Snowflake Description

Undervalued with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
VVO
JSE
£775M
Market Cap
  1. Home
  2. ZA
  3. Retail
Company description

Vivo Energy plc operates as a retailer and distributor of fuels and lubricants in Africa. The last earnings update was 22 days ago. More info.


Add to Portfolio Compare Print
  • Vivo Energy has significant price volatility in the past 3 months.
VVO Share Price and Events
7 Day Returns
-1.3%
JSE:VVO
-12.1%
ZA Specialty Retail
-5.2%
ZA Market
1 Year Returns
-35.6%
JSE:VVO
-50.2%
ZA Specialty Retail
-33.8%
ZA Market
VVO Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Vivo Energy (VVO) -1.3% -26.8% -34.4% -35.6% - -
ZA Specialty Retail -12.1% -37.6% -45.2% -50.2% -47.5% -59.8%
ZA Market -5.2% -21.1% -29% -33.8% -28% -31.7%
1 Year Return vs Industry and Market
  • VVO outperformed the Specialty Retail industry which returned -50.2% over the past year.
  • VVO underperformed the Market in South Africa which returned -33.8% over the past year.
Price Volatility
Industry
5yr Volatility vs Market

Value

 Is Vivo Energy 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 Vivo Energy 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 Vivo Energy.

JSE:VVO Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 8 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 15.4%
Perpetual Growth Rate 10-Year ZA Government Bond Rate 8.6%

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 JSE:VVO
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year ZA Govt Bond Rate 8.6%
Equity Risk Premium S&P Global 6.1%
Specialty Retail Unlevered Beta Simply Wall St/ S&P Global 0.74
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.738 (1 + (1- 19%) (75.38%))
1.126
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.13
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 8.6% + (1.126 * 6.07%)
15.44%

Discounted Cash Flow Calculation for JSE:VVO using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Vivo Energy 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.

JSE:VVO DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 15.44%)
2020 147.20 Analyst x5 127.52
2021 224.60 Analyst x5 168.55
2022 238.75 Analyst x4 155.21
2023 282.00 Analyst x1 158.81
2024 327.00 Analyst x1 159.53
2025 365.36 Est @ 11.73% 154.41
2026 404.78 Est @ 10.79% 148.19
2027 445.80 Est @ 10.13% 141.38
2028 488.93 Est @ 9.67% 134.33
2029 534.65 Est @ 9.35% 127.25
Present value of next 10 years cash flows $1,475.00
JSE:VVO DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $534.65 × (1 + 8.6%) ÷ (15.44% – 8.6%)
$8,493.32
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $8,493.32 ÷ (1 + 15.44%)10
$2,021.40
JSE:VVO Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $1,475.00 + $2,021.40
$3,496.40
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $3,496.40 / 1,201.80
$2.91
JSE:VVO Discount to Share Price
Calculation Result
Exchange Rate USD/GBP
(Reporting currency to currency of LSE:VVO)
0.806
Value per Share
(GBP)
= Value per Share in USD x Exchange Rate (USD/GBP)
= $2.91 x 0.806
£2.34
Non-primary Listing Adjustment Factor 1 share in JSE:VVO represents 23.18572x of LSE:VVO
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
23.18572x
Value per Share
(Listing Adjusted, ZAR)
= Value per Share (GBP) x Listing Adjustment Factor
= £ 2.34 x 23.18572
ZAR54.36
Value per share (ZAR) From above. ZAR54.36
Current discount Discount to share price of ZAR15.00
= -1 x (ZAR15.00 - ZAR54.36) / ZAR54.36
72.4%

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

Current Discount
Amount off the current price Vivo Energy is available for.
Intrinsic value
>50%
Share price is ZAR15 vs Future cash flow value of ZAR54.36
Current Discount Checks
For Vivo Energy to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Vivo Energy's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Vivo Energy'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 Vivo Energy's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Vivo Energy's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
JSE:VVO PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in USD $0.11
LSE:VVO Share Price ** LSE (2020-04-02) in GBP £0.65
LSE:VVO Share Price converted to USD reporting currency Exchange rate (GBP/ USD) 1.241 $0.8
South Africa Specialty Retail Industry PE Ratio Median Figure of 12 Publicly-Listed Specialty Retail Companies 8.38x
South Africa Market PE Ratio Median Figure of 201 Publicly-Listed Companies 8.08x

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

** Primary Listing of Vivo Energy.

JSE:VVO PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= LSE:VVO Share Price ÷ EPS (both in USD)

= 0.8 ÷ 0.11

7.41x

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

  • Vivo Energy is good value based on earnings compared to the ZA Specialty Retail industry average.
  • Vivo Energy is good value based on earnings compared to the South Africa market.
Price based on expected Growth
Does Vivo Energy's expected growth come at a high price?
Raw Data
JSE:VVO PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 7.41x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts
10.7%per year
South Africa Specialty Retail Industry PEG Ratio Median Figure of 6 Publicly-Listed Specialty Retail Companies 0.92x
South Africa Market PEG Ratio Median Figure of 78 Publicly-Listed Companies 0.84x

*Line of best fit is calculated by linear regression .

JSE:VVO PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 7.41x ÷ 10.7%

0.69x

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

  • Vivo Energy is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Vivo Energy's assets?
Raw Data
JSE:VVO PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in USD $0.59
LSE:VVO Share Price * LSE (2020-04-02) in GBP £0.65
LSE:VVO Share Price converted to USD reporting currency Exchange rate (GBP/ USD) 1.241 $0.8
South Africa Specialty Retail Industry PB Ratio Median Figure of 12 Publicly-Listed Specialty Retail Companies 1.18x
South Africa Market PB Ratio Median Figure of 271 Publicly-Listed Companies 0.67x
JSE:VVO PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= LSE:VVO Share Price ÷ Book Value per Share (both in USD)

= 0.8 ÷ 0.59

1.35x

* Primary Listing of Vivo Energy.

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

  • Vivo Energy is overvalued based on assets compared to the ZA Specialty Retail industry average.
X
Value checks
We assess Vivo Energy'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 Specialty Retail 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 Specialty Retail industry average (and greater than 0)? (1 check)
  5. Vivo Energy has a total score of 5/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

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

Future Performance

 How is Vivo Energy expected to perform in the next 1 to 3 years based on estimates from 8 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
10.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Vivo Energy expected to grow at an attractive rate?
  • Vivo Energy's earnings growth is expected to exceed the low risk savings rate of 8.6%.
Growth vs Market Checks
  • Vivo Energy's earnings growth is positive but not above the South Africa market average.
  • Vivo Energy's revenue growth is positive but not above the South Africa market average.
Annual Growth Rates Comparison
Raw Data
JSE:VVO Future Growth Rates Data Sources
Data Point Source Value (per year)
JSE:VVO Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts 10.7%
JSE:VVO Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 8 Analysts 3.6%
South Africa Specialty Retail Industry Earnings Growth Rate Market Cap Weighted Average 12.7%
South Africa Specialty Retail Industry Revenue Growth Rate Market Cap Weighted Average 5.1%
South Africa Market Earnings Growth Rate Market Cap Weighted Average 16%
South Africa Market Revenue Growth Rate Market Cap Weighted Average 8.4%

*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
JSE:VVO Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
JSE:VVO Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-12-31 10,341 387 235 1
2023-12-31 8,513 363 202 2
2022-12-31 9,227 364 198 6
2021-12-31 8,383 353 178 8
2020-12-31 7,697 249 148 8
2020-04-03
JSE:VVO Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-12-31 8,302 445 136
2019-09-30 8,041 329 134
2019-06-30 7,780 208 133
2019-03-31 7,723 217 127
2018-12-31 7,549 251 135
2018-09-30 7,344 229 127
2018-06-30 7,140 206 118
2018-03-31 6,864 246 121
2017-12-31 6,694 248 120

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Vivo Energy's earnings are expected to grow by 10.7% yearly, however this is not considered high growth (20% yearly).
  • Vivo Energy's revenue is expected to grow by 3.6% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
JSE:VVO 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 8 Analyst Estimates (S&P Global) See Below

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

JSE:VVO Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-12-31 0.19 0.19 0.19 1.00
2023-12-31 0.17 0.17 0.17 1.00
2022-12-31 0.15 0.18 0.12 5.00
2021-12-31 0.14 0.15 0.11 5.00
2020-12-31 0.11 0.13 0.06 5.00
2020-04-03
JSE:VVO Past Financials Data
Date (Data in USD Millions) EPS *
2019-12-31 0.11
2019-09-30 0.11
2019-06-30 0.11
2019-03-31 0.08
2018-12-31 0.11
2018-09-30 0.14
2018-06-30 0.20
2018-03-31 53.58
2017-12-31 53.21

*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.
  • Vivo Energy is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Vivo Energy'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 South Africa market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the South Africa 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.
Vivo Energy 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 Vivo Energy 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 Vivo Energy's growth in the last year to its industry (Specialty Retail).
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.
  • Vivo Energy's year on year earnings growth rate has been positive over the past 5 years.
  • Vivo Energy's 1-year earnings growth is less than its 5-year average (0.7% vs 16.2%)
  • Vivo Energy's earnings growth has exceeded the ZA Specialty Retail industry average in the past year (0.7% vs -3.4%).
Earnings and Revenue History
Vivo Energy'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 Vivo Energy Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

JSE:VVO Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 8,302.00 136.00 379.00
2019-09-30 8,040.66 134.50 372.71
2019-06-30 7,779.65 133.15 366.17
2019-03-31 7,723.06 126.86 363.48
2018-12-31 7,549.00 135.00 365.00
2018-09-30 7,344.26 126.66 364.70
2018-06-30 7,139.52 118.31 364.39
2018-03-31 6,863.75 120.56 405.22
2017-12-31 6,693.52 119.72 351.71
2016-12-31 5,729.35 88.66 347.20
2015-12-31 5,971.77 56.45 295.82

*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.
  • Vivo Energy has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Vivo Energy used its assets less efficiently than the ZA Specialty Retail industry average last year based on Return on Assets.
  • Vivo Energy has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Vivo Energy'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 Specialty Retail 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.
Vivo Energy has a total score of 3/6, 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 Vivo Energy'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 Vivo Energy's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Vivo Energy's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Vivo Energy's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Vivo Energy's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 2.9x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Vivo Energy Company Filings, last reported 3 months ago.

JSE:VVO Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 804.00 600.00 517.00
2019-09-30 804.00 600.00 517.00
2019-06-30 734.58 654.48 314.44
2019-03-31 734.58 654.48 314.44
2018-12-31 581.00 600.00 393.00
2018-09-30 581.00 600.00 393.00
2018-06-30 511.74 588.87 321.58
2018-03-31 508.77 611.36 389.47
2017-12-31 447.62 655.19 422.49
2016-12-31 588.46 237.55 371.28
2015-12-31 525.48 277.20 301.80
  • Vivo Energy's level of debt (74.6%) compared to net worth is high (greater than 40%).
  • Unable to establish if Vivo Energy's debt level has increased without past 5-year debt data.
  • Debt is well covered by operating cash flow (74.2%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 5.7x coverage).
X
Financial health checks
We assess Vivo Energy'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. Vivo Energy has a total score of 3/6, 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 Vivo Energy'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
4.68%
Current annual income from Vivo Energy dividends. Estimated to be 5.38% next year.
If you bought ZAR2,000 of Vivo Energy shares you are expected to receive ZAR94 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?
  • Vivo Energy's pays a higher dividend yield than the bottom 25% of dividend payers in South Africa (4.65%).
  • Vivo Energy's dividend is below the markets top 25% of dividend payers in South Africa (13.76%).
Upcoming dividend payment

Purchase Vivo Energy before the 'Ex-dividend' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
JSE:VVO 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 8 Analyst Estimates (S&P Global) See Below
South Africa Specialty Retail Industry Average Dividend Yield Market Cap Weighted Average of 8 Stocks 7.1%
South Africa Market Average Dividend Yield Market Cap Weighted Average of 170 Stocks 5.5%
South Africa Minimum Threshold Dividend Yield 10th Percentile 2.6%
South Africa Bottom 25% Dividend Yield 25th Percentile 4.6%
South Africa Top 25% Dividend Yield 75th Percentile 13.8%

Industry and Market average data is calculated daily.

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

JSE:VVO Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2024-12-31 0.06 1.00
2023-12-31 0.05 2.00
2022-12-31 0.05 6.00
2021-12-31 0.04 7.00
2020-12-31 0.04 8.00
2020-04-03
JSE:VVO Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2020-03-04 0.038 3.905
2019-09-11 0.024 1.553
2019-03-06 0.025 1.588
2018-08-02 0.013 0.817

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

  • Whilst dividend payments have been stable, Vivo Energy has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Vivo Energy only paid a dividend in the past 2 years.
Current Payout to shareholders
What portion of Vivo Energy's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.9x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.2x coverage).
X
Income/ dividend checks
We assess Vivo Energy's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 2.6%) - 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 Vivo Energy afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Vivo Energy 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 Vivo Energy'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
Christian Chammas
COMPENSATION $2,113,000
AGE 64
TENURE AS CEO 2 years
CEO Bio

Mr. Christian G. Chammas serves as Chief Executive Officer at Vivo Energy plc since April 20, 2018 and its Director at Vivo Energy plc since January 02, 2012. Mr. Chammas joined Vivo Group as Chief Executive Officer in January 2012. He has extensive experience in the energy sector and has a deep knowledge of Africa and emerging markets. He had been the Chairman and Director of Vivo Energy Mauritius Limited since March 21, 2013. Prior to joining the Group, Mr. Chammas was at total for 31 years where he held several executive positions in Central America, the Caribbean, Pacific and India. Christian served as chief executive officer for the Total group of companies in Nigeria, Cameroon and Kenya, followed by successive positions as executive vice president for the Total group of companies for Central Africa, executive vice president for the Total group of companies for Caribbean and Central America, and as Total group representative for India and executive country chairman for downstream companies. In his last role, Christian was the executive vice president for the Middle East and North Africa division of Total’s refining and marketing division. Christian is based in London but spends the majority of his time with employees, customers and other key stakeholders in the Group’s businesses across Africa. Christian joined Total in 1980 having graduated in 1979 with a degree in civil engineering.

CEO Compensation
  • Christian's compensation has increased by more than 20% in the past year whilst earnings fell less than 20%.
  • Christian's remuneration is higher than average for companies of similar size in South Africa.
Management Team Tenure

Average tenure of the Vivo Energy management team in years:

1.2
Average Tenure
  • The average tenure for the Vivo Energy management team is less than 2 years, this suggests a new team.
Management Team

Christian Chammas

TITLE
CEO & Director
COMPENSATION
$2M
AGE
64
TENURE
2 yrs

Johan S. Depraetere

TITLE
CFO & Director
COMPENSATION
$1M
AGE
51
TENURE
2 yrs

Giles Blackham

TITLE
Head of Investor Relations

Kevin Massie

TITLE
Group General Counsel
TENURE
0.4 yrs

Rob Foyle

TITLE
Head of Communications

Polycarp Igathe

TITLE
Executive Vice President of Sales & Marketing
TENURE
0.6 yrs

Herman Nieuwoudt

TITLE
Chief of Staff
TENURE
1.6 yrs

Eric Gosse

TITLE
Executive Vice President of Business Development
TENURE
1.3 yrs

Franck Yahaut

TITLE
Executive Vice President of West Africa
TENURE
1.2 yrs

Hans Paulsen

TITLE
Executive Vice President of East & Southern Africa
TENURE
0.8 yrs
Board of Directors Tenure

Average tenure and age of the Vivo Energy board of directors in years:

2
Average Tenure
60.5
Average Age
  • The average tenure for the Vivo Energy board of directors is less than 3 years, this suggests a new board.
Board of Directors

John Daly

TITLE
Independent Chairman of the Board
COMPENSATION
$275K
AGE
62
TENURE
2 yrs

Christian Chammas

TITLE
CEO & Director
COMPENSATION
$2M
AGE
64
TENURE
8.3 yrs

Johan S. Depraetere

TITLE
CFO & Director
COMPENSATION
$1M
AGE
51
TENURE
8 yrs

Carol Arrowsmith

TITLE
Independent Non-Executive Director
COMPENSATION
$78K
AGE
65
TENURE
2 yrs

Chris Rogers

TITLE
Independent Non-Executive Director
COMPENSATION
$78K
AGE
59
TENURE
2 yrs

Thembalihle Nyasulu

TITLE
Senior Independent Director
COMPENSATION
$78K
AGE
65
TENURE
2 yrs

Tope Lawani

TITLE
Non-Executive Director
AGE
49
TENURE
2.1 yrs

Javed Ahmed

TITLE
Non-Executive Director
AGE
50
TENURE
2.1 yrs

Gawad Abaza

TITLE
Independent Non-Executive Director
COMPENSATION
$63K
TENURE
1.3 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 (ZAR) Value (ZAR)
X
Management checks
We assess Vivo Energy'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. Vivo Energy has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

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

News

Simply Wall St News

Company Info

Description

Vivo Energy plc operates as a retailer and distributor of fuels and lubricants in Africa. It operates through three segments: Retail, Commercial, and Lubricants. The Retail segment sells petrol and diesel fuels at Shell and Engen-branded service stations; operates convenience retail shops, and quick service and fast casual restaurants; and provides other services, including lubricant bays, car washes, and ATMs. As of December 31, 2019, it operated 2,226 service stations in 23 countries under the Shell and Engen brands. The Commercial segment offers fuels, lubricants, and related product services to commercial customers in the transport, construction, power and industrial, infrastructure, mining, aviation, and marine sectors; and supplies liquefied petroleum gas primarily to consumers and fuels to the wholesale market. The Lubricants segment sells lubricants to commercial customers and retail consumers through service station forecourts and lubricant bays, as well as oil and repair shops, service centres, and resellers through a network of distributors; supplies lubricants to mining companies and B2B customers; and export of products to approximately 10 other African markets. The company was formerly known as VE Holding plc and changed its name to Vivo Energy plc in April 2018. Vivo Energy plc was founded in 2011 and is based in London, the United Kingdom.

Details
Name: Vivo Energy plc
VVO
Exchange: JSE
Founded: 2011
£17,807,208,172
1,201,798,866
Website: http://www.vivoenergy.com
Address: Vivo Energy plc
The Peak,
5th Floor,
London,
Greater London, SW1V IAN,
United Kingdom
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
LSE VVO Ordinary Shares London Stock Exchange GB GBP 04. May 2018
DB 7VE Ordinary Shares Deutsche Boerse AG DE EUR 04. May 2018
JSE VVO Ordinary Shares The Johannesburg Securities Exchange ZA ZAR 04. May 2018
BATS-CHIXE VVOL Ordinary Shares BATS 'Chi-X Europe' GB GBP 04. May 2018
Number of employees
Current staff
Staff numbers
2,701
Vivo Energy employees.
Industry
Automotive Retail
Retail
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/03 17:03
End of day share price update: 2020/04/02 00:00
Last estimates confirmation: 2020/04/01
Last earnings filing: 2020/03/12
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.