Financials Ananda Development

Equities

ANAN

TH4101010007

Real Estate Development & Operations

End-of-day quote Thailand S.E. 23:00:00 25/04/2024 BST 5-day change 1st Jan Change
0.79 THB 0.00% Intraday chart for Ananda Development 0.00% +2.60%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 8,732 6,333 6,791 6,041 3,208 3,291 - -
Enterprise Value (EV) 1 28,332 25,215 22,853 21,856 3,208 3,291 3,291 3,291
P/E ratio 12.4 x -10 x -6.27 x -9.06 x -2.76 x -7.18 x -10.5 x 26.3 x
Yield 4.48% - - - - - - -
Capitalization / Revenue 1.03 x 1.3 x 1.8 x 1.97 x 0.96 x 0.45 x 0.58 x 0.31 x
EV / Revenue 1.03 x 1.3 x 1.8 x 1.97 x 0.96 x 0.45 x 0.58 x 0.31 x
EV / EBITDA -31 x 36.3 x -206 x -7.98 x -2.91 x -4.8 x -5.9 x 12.9 x
EV / FCF -0.96 x -1.08 x - 1.94 x - 1.01 x -2.29 x -
FCF Yield -104% -92.7% - 51.6% - 99.2% -43.8% -
Price to Book 0.53 x 0.37 x 0.42 x 0.41 x - 0.31 x 0.31 x 0.31 x
Nbr of stocks (in thousands) 3,333,000 3,333,000 4,166,250 4,166,250 4,166,255 4,166,255 - -
Reference price 2 2.620 1.900 1.630 1.450 0.7700 0.7900 0.7900 0.7900
Announcement Date 27/02/20 23/02/21 24/02/22 23/02/23 29/02/24 - - -
1THB in Million2THB
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 8,483 4,860 3,771 3,065 3,355 7,374 5,654 10,659
EBITDA 1 -281.7 174.3 -32.95 -756.8 -1,102 -685 -557.5 255
EBIT 1 -437.2 -62.45 -229.7 -942.1 -1,304 -941 -787 -26
Operating Margin -5.15% -1.29% -6.09% -30.74% -38.85% -12.76% -13.92% -0.24%
Earnings before Tax (EBT) 1 810.5 25.65 -427.5 -212.1 -827.5 -721 -703.5 53
Net income 1 704.7 -96.14 -457.3 -295.8 -887 -467.1 -308.6 112
Net margin 8.31% -1.98% -12.13% -9.65% -26.44% -6.33% -5.46% 1.05%
EPS 2 0.2111 -0.1898 -0.2600 -0.1600 -0.2790 -0.1100 -0.0750 0.0300
Free Cash Flow 1 -9,054 -5,868 - 3,116 - 3,264 -1,440 -
FCF margin -106.74% -120.74% - 101.66% - 44.26% -25.47% -
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 0.1174 - - - - - - -
Announcement Date 27/02/20 23/02/21 24/02/22 23/02/23 29/02/24 - - -
1THB in Million2THB
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2020 S1 2021 S1 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 S1 2023 Q3 2023 Q4
Net sales 1 2,986 1,914 - 1,068 675.7 920.6 807 661.3 611.6 689.6 1,303 810.4 1,244
EBITDA 1 -836.5 -29.93 - - -103 - -180.3 - -165.6 -160.2 -323.9 -533.6 -242.9
EBIT 1 -957.6 -134.8 - -27.17 -143.2 21.87 93.37 -476.4 -213.6 -210.2 -421.8 -583.8 -296
Operating Margin -32.06% -7.04% - -2.54% -21.2% 2.38% 11.57% -72.03% -34.92% -30.48% -32.37% -72.04% -23.8%
Earnings before Tax (EBT) 1 - - - -178.1 -280.9 -32.15 16.56 - -38.9 -331.6 -664.5 -605.3 -129.7
Net income 1 -424.5 14.6 -251.9 -220 -281.3 -43.43 -16.1 45.01 -59.56 -84.52 -144.1 -542.5 -200.5
Net margin -14.21% 0.76% - -20.59% -41.62% -4.72% -2% 6.81% -9.74% -12.26% -11.06% -66.94% -16.12%
EPS - - - - - - - - - - - - -
Dividend per Share - - - - - - - - - - - - -
Announcement Date 11/08/20 10/08/21 11/11/21 24/02/22 12/05/22 11/08/22 10/11/22 23/02/23 15/05/23 16/08/23 16/08/23 13/11/23 29/02/24
1THB in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 19,600 18,883 16,062 15,815 - - - -
Net Cash position - - - - - - - -
Leverage (Debt/EBITDA) -69.58 x 108.3 x -487.5 x -20.9 x - - - -
Free Cash Flow 1 -9,054 -5,868 - 3,116 - 3,264 -1,440 -
ROE (net income / shareholders' equity) 4.32% -0.6% -2.64% -1.92% - -4.2% -2.68% 1.05%
ROA (Net income/ Total Assets) 1.56% -0.2% -1.11% -0.73% - -1.2% -1.3% 1.59%
Assets 1 45,185 48,070 41,340 40,680 - 38,925 23,735 7,044
Book Value Per Share 2 4.980 5.190 3.880 3.500 - 2.590 2.530 2.550
Cash Flow per Share 1.800 0.3400 0.0300 0.6500 - - - -
Capex 1 304 71.5 - 79.3 - 2,201 658 1,103
Capex / Sales 3.58% 1.47% - 2.59% - 29.85% 11.63% 10.35%
Announcement Date 27/02/20 23/02/21 24/02/22 23/02/23 29/02/24 - - -
1THB in Million2THB
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
More Ratings
Sell
Consensus
Buy
Mean consensus
SELL
Number of Analysts
2
Last Close Price
0.79 THB
Average target price
0.705 THB
Spread / Average Target
-10.76%
Consensus

Quarterly revenue - Rate of surprise

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