ABU QIR FERTILIZERS AND CHEMICAL INDUSTRIES CO. (S.A.E.)

Financials Abu Qir Fertilizers and Chemical Industries Co. (S.A.E.)

Equities

ABUK

EGS38191C010

Agricultural Chemicals

End-of-day quote Egyptian Exchange Other stock markets 23:00:00 01/05/2024 BST			5-day change	1st Jan Change
67 ^EGP	+7.29%		+6.35%	-20.24%

02-14	Abu Qir Fertilizers and Chemical Industries Co. (S.A.E.) Reports Earnings Results for the Second Quarter and Six Months Ended December 31, 2023	CI
2023	Abu Qir Fertilizers and Chemical Industries Co. (S.A.E.) Reports Earnings Results for the First Quarter Ended September 30, 2023	CI

Valuation

Fiscal Period: June	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	30,411	18,221	24,241	28,645	56,217	84,546	-	-
Enterprise Value (EV) ¹	24,595	12,215	17,015	42,846	38,771	57,113	57,096	62,379
P/E ratio	11.5 x	8.07 x	8.24 x	3.78 x	4.6 x	7.93 x	6.79 x	6.43 x
Yield	4.56%	7.62%	6.25%	11%	6.73%	8.24%	9.07%	9.79%
Capitalization / Revenue	3.54 x	2.31 x	2.74 x	1.75 x	2.61 x	4 x	3.29 x	3.1 x
EV / Revenue	2.87 x	1.55 x	1.92 x	2.62 x	1.8 x	2.7 x	2.22 x	2.29 x
EV / EBITDA	8.22 x	5.02 x	4.93 x	4.27 x	3.35 x	5.76 x	4.78 x	4.73 x
EV / FCF	9.22 x	5.57 x	7 x	4.74 x	4.47 x	7.85 x	7.24 x	7.82 x
FCF Yield	10.8%	18%	14.3%	21.1%	22.4%	12.7%	13.8%	12.8%
Price to Book	4.86 x	2.68 x	2.9 x	1.61 x	1.91 x	2.82 x	2.44 x	2.17 x
Nbr of stocks (in thousands)	1,261,876	1,261,876	1,261,876	1,261,876	1,261,876	1,261,876	-	-
Reference price ²	24.10	14.44	19.21	22.70	44.55	67.00	67.00	67.00
Announcement Date	25/08/19	27/08/20	24/08/21	23/08/22	30/08/23	-	-	-

¹EGP in Million²EGP

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: June	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	8,585	7,882	8,839	16,331	21,558	21,141	25,714	27,241
EBITDA ¹	2,993	2,431	3,451	10,031	11,586	9,914	11,934	13,182
EBIT ¹	2,892	2,335	3,337	9,922	11,586	9,804	11,786	12,964
Operating Margin	33.68%	29.62%	37.75%	60.75%	53.74%	46.37%	45.84%	47.59%
Earnings before Tax (EBT) ¹	4,065	3,409	4,318	11,568	18,511	14,416	16,593	17,932
Net income ¹	3,157	2,695	3,516	9,054	14,640	11,295	13,922	14,580
Net margin	36.78%	34.19%	39.78%	55.44%	67.91%	53.43%	54.14%	53.52%
EPS ²	2.100	1.790	2.330	6.000	9.690	8.448	9.872	10.41
Free Cash Flow ¹	2,668	2,194	2,431	9,045	8,682	7,279	7,882	7,976
FCF margin	31.07%	27.84%	27.5%	55.38%	40.27%	34.43%	30.65%	29.28%
FCF Conversion (EBITDA)	89.14%	90.26%	70.44%	90.17%	74.94%	73.42%	66.04%	60.5%
FCF Conversion (Net income)	84.49%	81.43%	69.14%	99.89%	59.3%	64.44%	56.61%	54.71%
Dividend per Share ²	1.100	1.100	1.200	2.500	3.000	5.522	6.075	6.558
Announcement Date	25/08/19	27/08/20	24/08/21	23/08/22	30/08/23	-	-	-

¹EGP in Million²EGP

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: Juni	2022 Q1	2023 Q3	2023 Q4
Net sales ¹	2,655	6,067	4,257
EBITDA	-	-	-
EBIT ¹	1,421	-	1,418
Operating Margin	53.54%	-	33.31%
Earnings before Tax (EBT) ¹	-	-	2,107
Net income	1,290	5,724	-
Net margin	48.57%	94.36%	-
EPS	-	-	-
Dividend per Share	-	-	-
Announcement Date	14/11/21	30/05/23	30/08/23

¹EGP in Million

Estimates

Balance Sheet Analysis

Fiscal Period: Juni	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	14,202	-	-	-	-
Net Cash position ¹	5,816	6,007	7,225	-	17,446	27,433	27,450	22,167
Leverage (Debt/EBITDA)	-	-	-	1.416 x	-	-	-	-
Free Cash Flow ¹	2,668	2,194	2,431	9,045	8,682	7,279	7,882	7,976
ROE (net income / shareholders' equity)	56.7%	41.3%	46.4%	69.2%	62.1%	36.5%	36.8%	35.1%
ROA (Net income/ Total Assets)	37.3%	29.3%	34.9%	54.5%	50.7%	29.7%	27.8%	23.9%
Assets ¹	8,464	9,184	10,080	16,610	28,899	38,095	50,126	61,066
Book Value Per Share ²	4.960	5.390	6.630	14.10	23.30	23.80	27.50	30.90
Cash Flow per Share	-	-	-	-	-	-	-	-
Capex ¹	127	228	147	210	151	273	153	244
Capex / Sales	1.48%	2.89%	1.66%	1.29%	0.7%	1.29%	0.59%	0.9%
Announcement Date	25/08/19	27/08/20	24/08/21	23/08/22	30/08/23	-	-	-

¹EGP in Million²EGP

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Abu Qir Fertilizers and Chemical Industries Co. (S.A.E.)

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

67 EGP

Average target price

77.07 EGP

Spread / Average Target

+15.02%

Consensus

EPS Revisions

Estimates Revisions

Annual profits - Rate of surprise

Company calendar

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