European Assets (EAT)

Company name:	European Assets Trust Plc
EPIC:	EAT	Trading Currency:	GBX
Market Sector:	SSC5	ISIN:	GB00BHJVQ590
Market Segment:	SSMM	Share Type:	DE
WWW Address:	http://www.fandc.com	Description:	ORD GBP0.10
Industry Sector:	GENERAL FINANCIAL

Price	Price Change [%]	Bid	Offer	Open	High	Low	Volume
106.50	1.0 [0.95]	105.50	107.50	-	-	-	751,286
Market Cap. [m]	Shares In Issue [m]	Beta	EPS	DPS	PE Ratio	Yield	52-Wks-Range
383.45	360.05	0.02	1.91	5.86	55.78	5.51	111.50 - 62.40

European Assets Key Figures

(at previous day's close)
Market Cap.	383.45	m
Shares In Issue	360.05	m
Prev. Close	105.50
PE Ratio	55.78
Dividend Yield	5.51	%
EPS - basic	1.91	p
Dividend PS	5.86	p
Dividend Cover	-
Cash Flow PS	10.02	p
Return On Equity (ROE)	1.53	%
Operating Margin	-	%
PEG Factor	-1.39
EPS Growth Rate	-40.00	%
Dividends PS Growth Rate	-86.62	%
Net Debt	-11.43	m
Gross Gearing	0.02	%
Quick Assets	13.61	m
Net Working Capital	13.53	m
Intangibles / Fixed Assets	-	%
Turnover PS	-	p
Pre-Tax Profit PS	2.20	p
Retained Profit PS	-4.26	p
Cash PS	3.19	p
Net Cash PS	3.17	p
Net Tangible Asset Value PS *	115.99	p
Net Asset Value PS	115.99	p
Spread	2.00 (1.86%)
* Calculation based on Ordinary Capital figure as contained in last annual report, and the most recent shares in issue figure. Therefore the ratio might be exposed to inaccuracies.

European Assets Balance Sheet

Share Price Performance

Sample Period ^†	High	Low
1 week	107.50	104.00
4 weeks	109.00	103.00
12 weeks	109.00	96.80
1 year	111.50	62.40

Share Price Chart (5 years)

European Assets Historic Returns

Period ^†	Open	Change	%	Open Avg.	Avg. Daily Vol [m]	Total Vol [m]	VWAP
1 week	107.25	-0.75	-0.70	104.00	0.32		106.98
4 weeks	103.00	3.50	3.40	103.00	0.35		106.23
12 weeks	96.80	9.70	10.02	96.80	0.35		104.12
26 weeks	84.30	22.20	26.33	81.60	0.52		96.57
1 year	99.00	7.50	7.58	62.40	0.56		95.72
3 years	131.00	-24.50	-18.70	62.40	0.41		103.50
5 years	105.00	1.50	1.43	62.40	0.27		104.07
† periods calculated are whole weeks rather than calendar months

European Assets Key Management Ratios

European Assets Investment Ratios

(Market value analysis) at previous day's close
PQ Ratio	0.00
PE Ratio	55.78
Tobin's Q Ratio	0.84
Tobin's Q Ratio (excl. intangibles)	0.84
Dividend Yield	5.51	%
Market-to-Book Ratio	0.92
Price-to-Pre-Tax Profit PS	48.47
Price-to-Retained Profit PS	-24.99
Price-to-Cash Flow PS	10.63
Price-to-Sales PS	-
Price-to-Net Tangible Asset Value PS	0.92
Price-to-Cash PS	33.34
Net Working Capital PS	3.76
Price Pct to Working Capital PS	28.33	%
Earnings Yield	1.79	%
Average PE	20.01
Years in average	4
PE to PE average	278.69	%

European Assets Financial Ratios

(Leverage Ratios)
Debt Ratio	-	%
Debt-to-Equity Ratio	-
Debt-to-Equity Ratio (excl. Intgbl)	-
Debt-to-Equity Market Value	-
Net Gearing	-2.74	%
Net Gearing (excl. Intangibles)	-2.74	%
Gross Gearing	0.02	%
Gross Gearing (excl. Intangibles)	0.02	%
Gearing Under 1 Year	0.02	%
Gearing Under 1 Year (excl. Intgbl)	0.02	%
Assets/Equity	1.00
Cash/Equity	2.75
(Liquidity Ratios)
Net Working Capital to Total Assets	3.24	%
Current Ratio	182.75
Quick Ratio (Acid Test)	182.75
Liquidity Ratio	154.44
Cash & Equiv/Current Assets	84.51	%
(Solvency Ratios)
Enterprise Value	371.95	m
CFO/Sales	-
CFO/Attributable Profit	5.65
CFO/Assets	0.09
CFO/Debt	484.52
Total Debt/Equity Market Value	0.00
Total Debt/Sales	-
Total Debt/Pre-Tax Profit	0.01
Total Debt	0.07	m
Total Debt/Net Current Assets	0.01	%
(Dodds - Graham Ratios)
3 yr Compound Earnings Growth	-	%
5 yr Compound Earnings Growth	-	%
10 yr Compound Earnings Growth	-	%
Earn drops > 5% in 10yrs	11

Beta (60-Mnth)	Beta (36-Mnth)
0.0248	0.0278

European Assets Operating Ratios

(Profitability Ratios)
Return On Capital Employed (ROCE)	1.89	%
Return On Assets (ROA)	1.41	%
Net Profit Margin	-	%
Assets Turnover	-
Return On Equity (ROE)	1.53	%
Return On Investment (ROI)	1.41	%
Dividend Payout Ratio	330.00	%
Plowback Ratio	-230.00	%
Growth from Plowback Ratio	-3.25	%
Net Income Of Revenues	-	%
(Asset Utilisation Multiples)
Shareholders Equity Turnover	-
Fixed Assets Turnover	-
Current Assets Turnover	-
Net Working Capital Turnover
Inventory Turnover	-
(Other Operating Ratios)
Total Assets-to-Sales	-
Debtors-to-Sales	-	%
Debt Collection Period	-	Days

European Assets Dividends

Announcement Date	Type	Curr.	Dividend Amount	Period Start	Period End	Ex Date	Record Date	Payment Date	Total Dividend Amount
01 Oct 2020	Interim	EUX	1.75	31/12/2019	31/12/2020	08/10/2020	09/10/2020	30/10/2020	-
01 Jul 2020	Interim	EUX	1.76	31/12/2019	31/12/2020	09/07/2020	10/07/2020	31/07/2020	-
31 Mar 2020	Interim	EUX	1.75	31/12/2019	31/12/2020	09/04/2020	14/04/2020	30/04/2020	-
07 Jan 2020	Interim	EUX	1.76	31/12/2018	31/12/2019	16/01/2020	17/01/2020	31/01/2020	6.93
02 Oct 2019	Interim	EUX	1.71	31/12/2018	31/12/2019	10/10/2019	11/10/2019	31/10/2019	-
03 Jul 2019	Interim	EUX	1.71	31/12/2018	31/12/2019	11/07/2019	12/07/2019	31/07/2019	-
20 Feb 2019	Interim	EUX	1.75	31/12/2018	31/12/2019	28/02/2019	01/03/2019	15/03/2019	-
08 Jan 2019	Interim	EUX	1.97	31/12/2017	31/12/2018	17/01/2019	18/01/2019	31/01/2019	51.80
03 Oct 2018	Interim	EUX	2.35	31/12/2017	31/12/2018	11/10/2018	12/10/2018	31/10/2018	-
03 Jul 2018	Interim	EUX	23.68	31/12/2017	31/12/2018	12/07/2018	13/07/2018	31/07/2018	-
04 Apr 2018	Interim	EUX	23.80	31/12/2017	31/12/2018	12/04/2018	13/04/2018	30/04/2018	-
05 Jan 2018	Interim	EUX	22.00	31/12/2016	31/12/2017	18/01/2018	19/01/2018	31/01/2018	82.20
01 Aug 2017	Interim	EUX	29.64	31/12/2016	31/12/2017	10/08/2017	11/08/2017	31/08/2017	-
02 May 2017	Interim	EUX	26.28	31/12/2016	31/12/2017	11/05/2017	12/05/2017	31/05/2017	-
05 Jan 2017	Interim	EUX	26.28	31/12/2016	31/12/2017	12/01/2017	13/01/2017	31/01/2017	-
01 Aug 2016	Interim	EUX	33.49	31/12/2015	31/12/2016	11/08/2016	12/08/2016	31/08/2016	94.29
04 May 2016	Interim	EUX	30.40	31/12/2015	31/12/2016	12/05/2016	13/05/2016	31/05/2016	-
07 Jan 2016	Interim	EUX	30.40	31/12/2015	31/12/2016	14/01/2016	15/01/2016	29/01/2016	-
30 Jul 2015	Interim	EUX	26.89	31/12/2014	31/12/2015	13/08/2015	14/08/2015	28/08/2015	77.43
01 May 2015	Interim	EUX	25.27	31/12/2014	31/12/2015	14/05/2015	15/05/2015	29/05/2015	-
07 Jan 2015	Interim	EUX	25.27	31/12/2014	31/12/2015	15/01/2015	16/01/2015	30/01/2015	-
01 Aug 2014	Interim	EUX	25.61	31/12/2013	31/12/2014	13/08/2014	15/08/2014	29/08/2014	72.21
01 May 2014	Interim	EUX	23.30	31/12/2013	31/12/2014	14/05/2014	16/05/2014	30/05/2014	-
08 Jan 2014	Interim	EUX	23.30	31/12/2013	31/12/2014	15/01/2014	17/01/2014	31/01/2014	-
30 Jul 2013	Interim	EUX	19.36	31/12/2012	31/12/2013	07/08/2013	09/08/2013	30/08/2013	57.57
01 May 2013	Interim	EUX	19.63	31/12/2012	31/12/2013	08/05/2013	10/05/2013	31/05/2013	-
03 Jan 2013	Interim	EUX	18.34	31/12/2012	31/12/2013	09/01/2013	11/01/2013	31/01/2013	-
27 Jul 2012	Interim	EUX	16.14	31/12/2011	31/12/2012	08/08/2012	10/08/2012	31/08/2012	55.02
01 May 2012	Interim	EUX	16.14	31/12/2011	31/12/2012	09/05/2012	11/05/2012	31/05/2012	-
05 Jan 2012	Interim	EUX	14.70	31/12/2011	31/12/2012	11/01/2012	13/01/2012	31/01/2012	-
03 Aug 2011	Interim	EUX	17.00	31/12/2010	31/12/2011	10/08/2011	12/08/2011	26/08/2011	51.00
04 May 2011	Interim	EUX	17.00	31/12/2010	31/12/2011	11/05/2011	13/05/2011	27/05/2011	-
06 Jan 2011	Interim	EUX	17.00	31/12/2010	31/12/2011	12/01/2011	14/01/2011	28/01/2011	-
02 Aug 2010	Interim	EUX	14.73	31/12/2009	31/12/2010	11/08/2010	13/08/2010	27/08/2010	43.53
04 May 2010	Interim	EUX	14.40	31/12/2009	31/12/2010	12/05/2010	14/05/2010	28/05/2010	-
07 Jan 2010	Interim	EUX	14.40	31/12/2009	31/12/2010	13/01/2010	15/01/2010	29/01/2010	-
05 Aug 2009	Interim	EUX	11.91	31/12/2008	31/12/2009	12/08/2009	14/08/2009	28/08/2009	-
07 May 2009	Interim	EUX	10.88	31/12/2007	31/12/2008	13/05/2009	15/05/2009	29/05/2009	-
07 May 2009	Interim	EUX	10.88	31/12/2007	31/12/2008	13/05/2009	15/05/2009	29/05/2009	-
06 Aug 2008	Interim	EUX	27.00	31/12/2006	31/12/2007	13/08/2008	15/08/2008	29/08/2008	-
06 May 2008	Interim	EUX	27.00	01/07/2007	31/12/2007	14/05/2008	16/05/2008	30/05/2008	-
24 Jul 2007	Final	EUX	32.00	31/12/2006	31/12/2007	08/08/2007	10/08/2007	24/08/2007	91.20
02 May 2007	Interim	EUX	29.60	31/12/2006	31/12/2007	09/05/2007	11/05/2007	25/05/2007	-
02 Jan 2007	Interim	EUX	29.60	31/12/2006	31/12/2007	10/01/2007	12/01/2007	26/01/2007	-
04 Jan 2007	Final	EUX	-	31/12/2005	31/12/2006	10/01/2007	12/01/2007	26/01/2007	73.25
24 Jul 2006	Interim	EUX	27.25	31/12/2005	31/12/2006	09/08/2006	11/08/2006	23/08/2006	-
05 May 2006	Interim	EUX	23.00	31/12/2005	31/12/2006	10/05/2006	12/05/2006	24/05/2006	-
05 Jan 2006	Interim	EUX	23.00	31/12/2005	31/12/2006	11/01/2006	13/01/2006	25/01/2006	-
02 Aug 2005	Final	EUX	20.50	31/12/2004	31/12/2005	10/08/2005	12/08/2005	24/08/2005	55.50
05 May 2005	Interim	EUX	17.50	31/12/2004	31/12/2005	11/05/2005	13/05/2005	25/05/2005	-
06 Jan 2005	Interim	EUX	17.50	31/12/2004	31/12/2005	12/01/2005	14/01/2005	26/01/2005	-
02 Aug 2004	Final	EUX	15.50	31/12/2003	31/12/2004	11/08/2004	13/08/2004	25/08/2004	46.50
04 May 2004	Interim	EUX	15.50	31/12/2003	31/12/2004	12/05/2004	14/05/2004	26/05/2004	-
08 Jan 2004	Interim	EUX	15.50	31/12/2003	31/12/2004	14/01/2004	16/01/2004	28/01/2004	-
04 Dec 2003	Final	EUX	2.00	31/12/2002	31/12/2003	10/12/2003	12/12/2003	24/12/2003	37.00
07 Nov 2003	Interim	EUX	2.00	31/12/2002	31/12/2003	12/11/2003	14/11/2003	26/11/2003	-
09 Oct 2003	Interim	EUX	2.00	31/12/2002	31/12/2003	15/10/2003	17/10/2003	29/10/2003	-
04 Sep 2003	Interim	EUX	2.00	31/12/2002	31/12/2003	10/09/2003	12/09/2003	24/09/2003	-
07 Aug 2003	Interim	EUX	2.00	31/12/2002	31/12/2003	13/08/2003	15/08/2003	27/08/2003	-
10 Jul 2003	Interim	EUX	2.00	31/12/2002	31/12/2003	16/07/2003	18/07/2003	30/07/2003	-
24 Dec 2002	Interim	EUX	25.00	31/12/2002	31/12/2003	31/12/2003	06/01/2003	16/01/2003	-
05 Dec 2002	Final	EUX	7.50	31/12/2001	31/12/2002	11/12/2002	13/12/2002	24/12/2002	90.00
07 Nov 2002	Interim	EUX	7.50	31/12/2001	31/12/2002	13/11/2002	15/11/2002	27/11/2002	-
09 Oct 2002	Interim	EUX	7.50	31/12/2001	31/12/2002	16/10/2002	18/10/2002	30/10/2002	-
04 Sep 2002	Interim	EUX	7.50	31/12/2001	31/12/2002	11/09/2002	13/09/2002	25/09/2002	-
06 Aug 2002	Interim	EUX	7.50	31/12/2001	31/12/2002	14/08/2002	16/08/2002	28/08/2002	-
08 Jul 2002	Interim	EUX	7.50	31/12/2001	31/12/2002	17/07/2002	19/07/2002	31/07/2002	-
26 Feb 2002	Interim	EUX	30.00	31/12/2001	31/12/2002	06/03/2002	08/03/2002	20/03/2002	-
07 Feb 2002	Interim	EUX	7.50	31/12/2001	31/12/2002	13/02/2002	15/02/2002	27/02/2002	-
10 Jan 2002	Interim	EUX	7.50	31/12/2001	31/12/2002	16/01/2002	18/01/2002	30/01/2002	-
03 Dec 2001	Final	EUX	13.00	31/12/2000	31/12/2001	12/12/2001	14/12/2001	27/12/2001	156.00
01 Nov 2001	Interim	EUX	13.00	31/12/2000	31/12/2001	07/11/2001	09/11/2001	21/11/2001	-
01 Oct 2001	Interim	EUX	13.00	31/12/2000	31/12/2001	10/10/2001	12/11/2001	24/10/2001	-
03 Sep 2001	Interim	EUX	13.00	31/12/2000	31/12/2001	12/09/2001	14/09/2001	26/09/2001	-
01 Aug 2001	Interim	EUX	13.00	31/12/2000	31/12/2001	08/08/2001	10/08/2001	22/08/2001	-
02 Jul 2001	Interim	EUX	13.00	31/12/2000	31/12/2001	11/07/2001	13/07/2001	27/07/2001	-
01 Jun 2001	Interim	EUX	13.00	31/12/2000	31/12/2001	13/06/2001	15/06/2001	27/06/2001	-
03 May 2001	Interim	EUX	13.00	31/12/2000	31/12/2001	11/05/2001	13/05/2001	25/05/2001	-
03 Apr 2001	Interim	EUX	13.00	31/12/2000	31/12/2001	15/04/2001	17/04/2001	25/04/2001	-
01 Mar 2001	Interim	EUX	13.00	31/12/2000	31/12/2001	14/03/2001	16/03/2001	28/03/2001	-
14 Feb 2001	Interim	EUX	13.00	31/12/2000	31/12/2001	14/02/2002	16/02/2001	28/02/2001	-
18 Sep 2000	Final	EUX	57.00	31/12/1999	31/12/2000	06/11/2000	10/11/2000	24/11/2000	60.60
04 Aug 2000	Interim	EUX	3.60	30/12/1999	30/06/2000	14/08/2000	18/08/2000	31/08/2000	-
04 Aug 2000	Final	EUX	3.20	31/12/1998	31/12/1999	14/08/2000	18/08/2000	31/08/2000	6.80
30 Jul 1999	Interim	EUX	3.60	30/12/1998	30/06/1999	09/08/1999	13/08/1999	31/08/1999	-
02 Mar 1999	Final	EUX	3.20	31/12/1997	31/12/1998	26/04/1999	30/04/1999	27/06/1999	6.80

European Assets Fundamentals

	31 Dec 2016 (EUR)		31 Dec 2017 (EUR)		31 Dec 2018 (EUR)		31 Dec 2019 (EUR)
turnover	-	-	-	-	-	-	-	-	m
pre tax profit	-30.05	-	76.90	-	-81.16	-	9.35	-	m
attributable profit	-35.18	-	76.90	-	-81.16	-	7.55	-	m
retained profit	-65.65	-	49.85	-	-113.96	-	-18.13	-	m
eps - basic	-107.00		228.00		3.50		2.10
eps - diluted	-107.00		228.00		3.50		2.10
dividends per share	94.29		82.20		51.80		6.93

European Assets Balance Sheet

	31 Dec 2016 (EUR)		31 Dec 2017 (EUR)		31 Dec 2018 (EUR)		31 Dec 2019 (EUR)


	31 Dec 2016 (EUR)		31 Dec 2017 (EUR)		31 Dec 2018 (EUR)		31 Dec 2019 (EUR)
ASSETS
fixed assets	-	-%	-	-%	-	-%	-	-%	m
intangibles	-	-%	-	-%	-	-%	-	-%	m
fixed investments	418.78	95.97%	509.88	99.76%	414.77	99.73%	477.49	96.74%	m
current assets - other	-	-%	-	-%	-	-%	-	-%	m
stocks	-	-%	-	-%	-	-%	-	-%	m
debtors	0.76	0.17%	1.25	0.24%	1.11	0.27%	2.49	0.50%	m
cash & securities	16.83	3.86%	-	-%	-	-%	13.59	2.75%	m

TOTAL	436.38	100%	511.13	100%	415.88	100%	493.57	100%	m

LIABILITIES
creditors - short	0.16	0.04%	2.98	0.58%	4.29	1.03%	0.09	0.02%	m
creditors - long	-	-%	-	-%	-	-%	-	-%	m
creditors - other	-	-%	-	-%	-	-%	-	-%	m
subordinated loans	-	-%	-	-%	-	-%	-	-%	m
insurance funds	-	-%	-	-%	-	-%	-	-%	m

TOTAL	0.16	0.04%	2.98	0.58%	4.29	1.03%	0.09	0.02%	m

EQUITY
ord cap, reserves	436.22	99.96%	508.15	99.42%	411.59	98.97%	493.48	99.98%	m
prefs, minorities	-	-%	-	-%	-	-%	-	-%	m

TOTAL	436.22	99.96%	508.15	99.42%	411.59	98.97%	493.48	99.98%	m

OTHER
NAV Basic	-		-		-		-
NAV Diluted	-		-		-		-

European Assets Cash Flow Statement

	31 Dec 2016 (EUR)	31 Dec 2017 (EUR)	31 Dec 2018 (EUR)	31 Dec 2019 (EUR)
Operating CF	19.65	-14.68	14.57	42.64	m
Pre-Financing CF	19.65	-14.68	14.57	42.64	m
Retained CF	7.50	-16.83	-	16.96	m

European Assets Brokers

Name	Activity	Type	Mnemonic	Code
J.P. Morgan Cazenove Limited	Market Maker(MMF)	Broker/Dealer	CAZR	CAZEGB2L
Cenkos Securities Plc	Market Maker(MMF)	Broker/Dealer	CNKS	CNKOGB21
Collins Stewart Europe Limited	Market Maker(MMF)	Broker/Dealer	CSCS	CSTEGB21
Canaccord Genuity Limited	Market Maker(MMF)	Broker/Dealer	CANA	HOARGB21001
J.P. Morgan Securities Ltd	Market Maker(MMF)	Broker/Dealer	JPMS	JPMSGB2L
UBS AG	Market Maker(MMF)	Broker/Dealer	UBS.	UBSWGB2LEQU
Winterflood Securities Ltd	Market Maker(MMF)	Broker/Dealer	WINS	WNTSGB2LBIC