Financials Anhui Honglu Steel Construction(Group) CO., LTD

Equities

002541

CNE100000Z75

Construction & Engineering

End-of-day quote Shenzhen S.E. 23:00:00 20/06/2024 BST 5-day change 1st Jan Change
17.43 CNY -0.11% Intraday chart for Anhui Honglu Steel Construction(Group) CO., LTD -3.06% -19.79%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 5,546 19,131 28,418 20,210 14,994 11,981 - -
Enterprise Value (EV) 1 5,546 20,536 31,079 25,084 20,475 18,190 18,135 18,084
P/E ratio 9.9 x 24 x 25.5 x 17.8 x 13 x 9.39 x 8.43 x 7.4 x
Yield 1.51% 0.63% 0.62% 0.89% 1.2% 1.63% 1.86% 2.33%
Capitalization / Revenue 0.52 x 1.42 x 1.46 x 1.02 x 0.64 x 0.45 x 0.4 x 0.36 x
EV / Revenue 0.52 x 1.53 x 1.59 x 1.26 x 0.87 x 0.69 x 0.61 x 0.54 x
EV / EBITDA 6.11 x 15.7 x 16.7 x 12.2 x 10.5 x 8.1 x 7.16 x 6.47 x
EV / FCF - - - -21 x - 41.5 x 108 x 15.7 x
FCF Yield - - - -4.75% - 2.41% 0.93% 6.38%
Price to Book 1.12 x 3.19 x 3.91 x 2.54 x 1.63 x 1.17 x 1.04 x 0.93 x
Nbr of stocks (in thousands) 680,835 680,835 690,011 690,011 690,011 687,361 - -
Reference price 2 8.146 28.10 41.18 29.29 21.73 17.43 17.43 17.43
Announcement Date 28/02/20 26/02/21 27/02/22 30/03/23 29/03/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 10,755 13,460 19,515 19,848 23,539 26,456 29,918 33,411
EBITDA 1 908.3 1,306 1,858 2,060 1,955 2,245 2,534 2,794
EBIT 1 671.1 1,022 1,511 1,409 1,402 1,535 1,748 1,998
Operating Margin 6.24% 7.6% 7.74% 7.1% 5.96% 5.8% 5.84% 5.98%
Earnings before Tax (EBT) 1 678.1 1,019 1,512 1,406 1,388 1,556 1,757 2,005
Net income 1 559.1 795.3 1,150 1,163 1,179 1,303 1,482 1,685
Net margin 5.2% 5.91% 5.89% 5.86% 5.01% 4.93% 4.95% 5.04%
EPS 2 0.8231 1.169 1.615 1.650 1.670 1.856 2.068 2.356
Free Cash Flow 1 - - - -1,192 - 438.6 168 1,154
FCF margin - - - -6.01% - 1.66% 0.56% 3.45%
FCF Conversion (EBITDA) - - - - - 19.53% 6.63% 41.31%
FCF Conversion (Net income) - - - - - 33.65% 11.34% 68.49%
Dividend per Share 2 0.1231 0.1769 0.2538 0.2600 0.2600 0.2844 0.3250 0.4064
Announcement Date 28/02/20 26/02/21 27/02/22 30/03/23 29/03/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 6,137 3,519 5,382 5,524 5,423 5,018 6,054 5,897 6,571 4,427 6,600 6,510 7,808 5,315 8,877
EBITDA 1 646.9 301.3 521.4 546.2 - - - - - - 701.8 550.2 550.2 448.8 783.2
EBIT 1 452.9 246.5 400.7 449.8 312.3 249.8 417.2 368.2 366.9 253.9 333.2 354.9 475.2 250.8 585.2
Operating Margin 7.38% 7.01% 7.45% 8.14% 5.76% 4.98% 6.89% 6.24% 5.58% 5.73% 5.05% 5.45% 6.09% 4.72% 6.59%
Earnings before Tax (EBT) - - - - - - - - - - - - - - -
Net income - - - - - - - - - - - - - - -
Net margin - - - - - - - - - - - - - - -
EPS 2 0.4462 0.2412 0.4200 0.5200 0.4000 0.2907 0.5000 0.4700 0.4100 0.2945 0.4000 0.4600 0.5300 0.3169 0.7395
Dividend per Share 2 0.2538 - - - 0.2600 - - - - - - - 0.2976 - -
Announcement Date 27/02/22 27/04/22 24/08/22 27/10/22 30/03/23 27/04/23 24/08/23 25/10/23 29/03/24 26/04/24 - - - - -
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - 1,404 2,661 4,874 5,481 6,209 6,154 6,104
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) - 1.076 x 1.432 x 2.366 x 2.804 x 2.765 x 2.429 x 2.184 x
Free Cash Flow 1 - - - -1,192 - 439 168 1,154
ROE (net income / shareholders' equity) 12% 15% 17.9% 15% 13.5% 12.8% 12.7% 12.7%
ROA (Net income/ Total Assets) 4.83% 5.49% 6.43% 5.79% 5.38% 4.88% 5.13% 5.27%
Assets 1 11,586 14,486 17,892 20,083 21,937 26,733 28,916 31,999
Book Value Per Share 2 7.250 8.810 10.50 11.60 13.30 14.90 16.70 18.80
Cash Flow per Share 2 1.280 0.2300 -0.2800 0.9000 1.590 1.360 1.810 2.340
Capex 1 1,352 1,163 1,625 1,815 1,655 1,509 1,452 1,444
Capex / Sales 12.57% 8.64% 8.33% 9.14% 7.03% 5.7% 4.85% 4.32%
Announcement Date 28/02/20 26/02/21 27/02/22 30/03/23 29/03/24 - - -
1CNY in Million2CNY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
12
Last Close Price
17.43 CNY
Average target price
23.44 CNY
Spread / Average Target
+34.46%
Consensus
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