Iberpapel Gestión, S.A. (IBG.MC) | Investment Case

1. Company Snapshot

1.a. Company Description

Iberpapel Gestión, S.A., together with its subsidiaries, manufactures, sells, and exports writing and printing paper in Spain, rest of European Union, Africa, South America, and internationally.The company operates through Paper, Gas Power Generation, and Forestry Activity and Other segments.It offers paper for bags and packaging, as well as label face products.

The company also generates 10 Mwh of electricity through biomass; and 50 Mwh of electricity through gas cogeneration.In addition, it owns and manages 25,788 hectares of land in Spain, Argentina, and Uruguay.Further, the company is involved in the reforestation and forestry operations; and sale of timber.

Iberpapel Gestión, S.A. was founded in 1935 and is headquartered in San Sebastián, Spain.

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1.b. Last Insights on IBG

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1.c. Company Highlights

Last Price	20.5
Change Percentage	0.99%
Open	20.1
Previous Close	20.3
Market Cap ( Millions)	223
Volume	1599
Year High	22.3
Year Low	17.55
M A 50	19.97
M A 200	20.03

FCF Yield	0.00%
Dividend Yield	4.88%
ROE	4.46%
Debt / Equity	4.72%
Net Debt / EBIDTA	-194.08%
Price To Book	0.67
Price Earnings Ratio	14.84
Price To FCF	0
Price To sales	0.97
EV / EBITDA	4.96

2. Transcript Summary

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3. NewsRoom

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4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (4.53%)

6. Segments

Paper

Expected Growth: 4.5%

Iberpapel Gestión, S.A.'s 4.5% growth is driven by increasing demand for sustainable packaging, rising e-commerce sales, and growing adoption of paper-based products in the Spanish market. Additionally, the company's focus on cost reduction, operational efficiency, and strategic investments in new products and technologies have contributed to its growth momentum.

Electrical Energy Cogeneration Gas

Expected Growth: 4.8%

Iberpapel Gestión's 4.8% growth in Electrical Energy Cogeneration Gas is driven by increasing demand for renewable energy, favorable Spanish government policies, and rising industrial consumption. Additionally, the company's efficient cogeneration technology and strategic location near high-demand areas contribute to its growth.

Forestry and Other

Expected Growth: 4.2%

Iberpapel Gestión's Forestry and Other segment growth of 4.2% is driven by increasing demand for sustainable forestry products, expansion into new markets, and strategic partnerships. Additionally, the company's focus on certified forestry practices and commitment to environmental sustainability have contributed to its growth.

7. Detailed Products

Paper Products

Iberpapel Gestión, S.A. offers a wide range of paper products, including printing and writing paper, packaging paper, and specialty paper.

Pulp Products

The company produces and sells pulp products, including bleached eucalyptus pulp and unbleached eucalyptus pulp.

Energy and Biofuels

Iberpapel Gestión, S.A. generates and sells electricity and biofuels from biomass, mainly from forestry waste.

Forestry and Land Management

The company manages and sells forestry products, including timber, and offers land management services.

Recycled Fiber

Iberpapel Gestión, S.A. collects, processes, and sells recycled fiber from waste paper and cardboard.

8. Iberpapel Gestión, S.A.'s Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for Iberpapel Gestión, S.A. is medium due to the availability of alternative products in the paper and pulp industry.

Bargaining Power Of Customers

The bargaining power of customers for Iberpapel Gestión, S.A. is low due to the company's strong market position and diversified customer base.

Bargaining Power Of Suppliers

The bargaining power of suppliers for Iberpapel Gestión, S.A. is medium due to the presence of multiple suppliers in the market, but the company's large scale of operations gives it some bargaining power.

Threat Of New Entrants

The threat of new entrants for Iberpapel Gestión, S.A. is low due to the high barriers to entry in the paper and pulp industry, including significant capital requirements and regulatory hurdles.

Intensity Of Rivalry

The intensity of rivalry for Iberpapel Gestión, S.A. is high due to the competitive nature of the paper and pulp industry, with multiple players competing for market share.

9. SWOT Analysis

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

	Value
Debt Weight	7.09%
Debt Cost	3.95%
Equity Weight	92.91%
Equity Cost	7.18%
WACC	6.95%
Leverage	7.63%

11. Quality Control: Iberpapel Gestión, S.A. passed 4 out of 9 key points

Strong Liquidity

Low Debt

Strong Interest Coverage

Healthy Cash Flow

Operating Efficiency

Strong Return On Equity

Consistent Revenue Growth

Consistent Operating Cash Flow Growth

Margin Improvement

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Semapa

A-Score: 7.2/10

Value: 8.4

Growth: 5.6

Quality: 4.8

Yield: 7.5

Momentum: 7.5

Volatility: 9.7

1-Year Total Return ->

Iberpapel

A-Score: 7.0/10

Value: 8.2

Growth: 5.0

Quality: 6.1

Yield: 7.5

Momentum: 6.0

Volatility: 9.3

1-Year Total Return ->

Exacompta Clairefontaine

A-Score: 6.4/10

Value: 9.2

Growth: 5.2

Quality: 3.9

Yield: 7.5

Momentum: 7.0

Volatility: 5.3

1-Year Total Return ->

Nordic Paper Holding

A-Score: 5.6/10

Value: 7.7

Growth: 4.9

Quality: 5.1

Yield: 9.4

Momentum: 4.0

Volatility: 2.7

1-Year Total Return ->

CPH

A-Score: 5.5/10

Value: 4.6

Growth: 3.4

Quality: 5.7

Yield: 6.2

Momentum: 5.5

Volatility: 7.3

1-Year Total Return ->

Arctic Paper

A-Score: 4.0/10

Value: 9.6

Growth: 3.1

Quality: 2.5

Yield: 4.4

Momentum: 0.0

Volatility: 4.7

1-Year Total Return ->

Peers Metrics

12.e Scoring ^Insights

12.f DCF ^BETA

Parameters

Short Term Growth

-4.76%

Short term Time

10.0

Long-Term Growth

2.00%

WACC

6.95%

Iberpapel Gestión, S.A. - ES0147561015

1. Company Snapshot

1.a. Company Description

1.b. Last Insights on IBG

Have nothing to say about that one ...

1.c. Company Highlights

Better Quality

Less Volatile

Stable Momentum

Average Yield

Lower Growth

Revenues Miss

Higher Yield

Cheaper

Average Growth

Average Quality

Fairly Valued

2. Transcript Summary

3. NewsRoom

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (4.53%)

6. Segments

Paper

Expected Growth: 4.5%

Electrical Energy Cogeneration Gas

Expected Growth: 4.8%

Forestry and Other

Expected Growth: 4.2%

7. Detailed Products

Paper Products

Pulp Products

Energy and Biofuels

Forestry and Land Management

Recycled Fiber

8. Iberpapel Gestión, S.A.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Bargaining Power Of Customers

Bargaining Power Of Suppliers

Threat Of New Entrants

Intensity Of Rivalry

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

11. Quality Control: Iberpapel Gestión, S.A. passed 4 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

20.5$

Current Price

20.5$

Potential

-0.00%

Expected Cash-Flows

12.e Scoring ^Insights

12.f DCF ^BETA