Financials AIMS APAC REIT

Equities

O5RU

SG2D63974620

Commercial REITs

Market Closed - Singapore S.E. 10:04:37 06/05/2024 BST 5-day change 1st Jan Change
1.27 SGD +1.60% Intraday chart for AIMS APAC REIT +0.79% -2.31%

Valuation

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 981.1 734.9 911.6 989.7 950.9 1,013 - -
Enterprise Value (EV) 1 1,466 1,352 1,492 1,823 1,729 1,759 1,756 1,759
P/E ratio 19.5 x 8.48 x 19.2 x 11 x 10.1 x 11.8 x 11.3 x 10.7 x
Yield 7.22% 9.13% 6.94% 6.81% 7.53% 7.75% 7.83% 7.95%
Capitalization / Revenue 8.31 x 6.18 x 7.43 x 6.95 x 5.68 x 5.85 x 5.73 x 5.63 x
EV / Revenue 12.4 x 11.4 x 12.2 x 12.8 x 10.3 x 10.2 x 9.94 x 9.78 x
EV / EBITDA - 17.2 x 19.7 x 20.6 x 17.2 x 16.3 x 16 x 15.7 x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Price to Book - 0.77 x 0.95 x 0.99 x 0.96 x 0.91 x 0.94 x 0.95 x
Nbr of stocks (in thousands) 690,913 706,663 706,663 712,017 720,344 810,564 - -
Reference price 2 1.420 1.040 1.290 1.390 1.320 1.250 1.250 1.250
Announcement Date 23/04/19 11/05/20 04/05/21 27/04/22 04/05/23 - - -
1SGD in Million2SGD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: Maart 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 118.1 118.9 122.6 142.4 167.4 173.2 176.8 179.8
EBITDA 1 - 78.68 75.54 88.58 100.3 108 110 112
EBIT 1 68.95 78.68 75.54 88.58 100.3 108 110 112
Operating Margin 58.39% 66.19% 61.6% 62.21% 59.9% 62.34% 62.23% 62.28%
Earnings before Tax (EBT) 1 52.77 93.08 60.07 112.3 112.1 94.67 99.93 103.2
Net income 1 50.05 85.52 47.57 89.24 93.36 84.37 89.93 92.8
Net margin 42.39% 71.95% 38.79% 62.67% 55.78% 48.7% 50.88% 51.6%
EPS 2 0.0730 0.1227 0.0673 0.1259 0.1301 0.1060 0.1109 0.1172
Free Cash Flow - - - - - - - -
FCF margin - - - - - - - -
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 0.1025 0.0950 0.0895 0.0946 0.0994 0.0968 0.0978 0.0993
Announcement Date 23/04/19 11/05/20 04/05/21 27/04/22 04/05/23 - - -
1SGD in Million2SGD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March 2024 S1
Net sales 1 86.83
EBITDA -
EBIT -
Operating Margin -
Earnings before Tax (EBT) -
Net income 1 30.99
Net margin 35.69%
EPS 2 0.0401
Dividend per Share -
Announcement Date 02/11/23
1SGD in Million2SGD
Estimates

Balance Sheet Analysis

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 485 617 580 833 778 746 743 745
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) - 7.846 x 7.682 x 9.405 x 7.757 x 6.906 x 6.755 x 6.655 x
Free Cash Flow - - - - - - - -
ROE (net income / shareholders' equity) 5.36% 9.08% 5.43% 9.09% 8.06% 8.23% 8.4% 8.67%
ROA (Net income/ Total Assets) 3.38% 5.46% 2.98% 4.2% 2.22% 3.21% 3.26% 3.43%
Assets 1 1,481 1,567 1,598 2,125 4,215 2,628 2,756 2,706
Book Value Per Share 2 - 1.350 1.360 1.400 1.370 1.370 1.330 1.320
Cash Flow per Share 2 0.1100 0.1200 0.1100 0.1300 0.1500 0.1000 0.1000 0.1000
Capex 1 14.3 28.6 139 493 3.05 18.8 18.7 12
Capex / Sales 12.14% 24.05% 113.51% 345.99% 1.82% 10.85% 10.58% 6.69%
Announcement Date 23/04/19 11/05/20 04/05/21 27/04/22 04/05/23 - - -
1SGD in Million2SGD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
C+
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
3
Last Close Price
1.25 SGD
Average target price
1.49 SGD
Spread / Average Target
+19.20%
Consensus

Annual profits - Rate of surprise

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