Financials B2 Impact ASA

Equities

B2H

NO0010633951

Corporate Financial Services

Market Closed - Oslo Bors 15:45:00 06/05/2024 BST 5-day change 1st Jan Change
9.3 NOK +3.91% Intraday chart for B2 Impact ASA +8.01% +26.53%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 3,917 3,042 4,217 3,043 2,709 3,298 - -
Enterprise Value (EV) 1 15,296 14,110 13,284 12,085 11,744 12,613 13,268 13,833
P/E ratio 36.8 x 9.89 x 7.45 x 9.59 x 7.82 x 6.91 x 5.66 x 4.4 x
Yield 0.84% - 4.05% 2.54% 9.52% 8.08% 9.57% 10.7%
Capitalization / Revenue 1.36 x 0.96 x 1.39 x 0.99 x 0.72 x 0.88 x 0.84 x 0.78 x
EV / Revenue 5.32 x 4.45 x 4.38 x 3.92 x 3.11 x 3.35 x 3.36 x 3.25 x
EV / EBITDA 14 x 10.5 x 9.52 x 8.53 x 6.97 x 7.95 x 7.98 x 7.64 x
EV / FCF -20.3 x 9.48 x 5.77 x 9.73 x 5.46 x -16.6 x -53.5 x 84.9 x
FCF Yield -4.91% 10.5% 17.3% 10.3% 18.3% -6.03% -1.87% 1.18%
Price to Book 0.92 x 0.64 x 0.85 x 0.6 x 0.51 x 0.58 x 0.55 x 0.52 x
Nbr of stocks (in thousands) 409,933 409,933 407,086 387,181 368,595 368,532 - -
Reference price 2 9.555 7.420 10.36 7.860 7.350 8.950 8.950 8.950
Announcement Date 28/02/20 12/02/21 10/02/22 15/02/23 15/02/24 - - -
1NOK in Million2NOK
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 2,874 3,174 3,036 3,085 3,775 3,768 3,949 4,252
EBITDA 1 1,093 1,338 1,396 1,417 1,684 1,588 1,662 1,812
EBIT 1 958.6 1,224 1,308 1,334 1,578 1,526 1,662 1,906
Operating Margin 33.36% 38.56% 43.08% 43.24% 41.8% 40.5% 42.08% 44.82%
Earnings before Tax (EBT) 1 164.9 411 742 421 468 621.6 751.6 967.4
Net income 1 106.8 309 573 326 363 487.4 590.4 759.9
Net margin 3.71% 9.74% 18.87% 10.57% 9.62% 12.93% 14.95% 17.87%
EPS 2 0.2600 0.7500 1.390 0.8200 0.9400 1.296 1.580 2.033
Free Cash Flow 1 -751.8 1,488 2,302 1,242 2,151 -760 -248 163
FCF margin -26.16% 46.88% 75.82% 40.26% 56.98% -20.17% -6.28% 3.83%
FCF Conversion (EBITDA) - 111.21% 164.9% 87.65% 127.73% - - 9%
FCF Conversion (Net income) - 481.55% 401.75% 380.98% 592.56% - - 21.45%
Dividend per Share 2 0.0800 - 0.4200 0.2000 0.7000 0.7230 0.8561 0.9533
Announcement Date 28/02/20 12/02/21 10/02/22 15/02/23 15/02/24 - - -
1NOK in Million2NOK
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 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
Net sales 1 792 726 716 825 797 824 914 1,102 1,008 946 894.5 989.8 984.6 980.7 -
EBITDA 1 392 288 309 259 358 364 404 499 394 387 370 417 386 414 350
EBIT 1 370 267 289 139 337 343 375 471 370 362 360.2 400.1 383.6 394.5 328
Operating Margin 46.72% 36.78% 40.36% 16.85% 42.28% 41.63% 41.03% 42.74% 36.71% 38.27% 40.27% 40.42% 38.96% 40.22% -
Earnings before Tax (EBT) 1 210 155 125 32 185 80 117 210 58 83 117.7 162.2 154.9 168.3 141.8
Net income 1 162 120 97 25 143 62 91 163 45 65 91.19 125.8 120.3 130.7 110.2
Net margin 20.45% 16.53% 13.55% 3.03% 17.94% 7.52% 9.96% 14.79% 4.46% 6.87% 10.2% 12.71% 12.22% 13.33% -
EPS 2 0.3900 0.2900 0.2400 0.0600 0.3600 0.1500 0.2300 0.4200 0.1200 0.1700 0.2400 0.3300 0.3250 0.3500 0.2930
Dividend per Share 2 - 0.4200 - - - 0.2000 - - - 0.7000 - - - 0.6700 -
Announcement Date 04/11/21 10/02/22 11/05/22 23/08/22 10/11/22 15/02/23 16/05/23 23/08/23 10/11/23 15/02/24 - - - - -
1NOK in Million2NOK
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 11,379 11,068 9,067 9,042 9,035 9,315 9,970 10,535
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 10.41 x 8.272 x 6.495 x 6.381 x 5.365 x 5.867 x 5.997 x 5.816 x
Free Cash Flow 1 -752 1,488 2,302 1,242 2,151 -760 -248 163
ROE (net income / shareholders' equity) 2.49% 6.9% 12.2% 10.7% 8.9% 8.47% 9.94% 11.9%
ROA (Net income/ Total Assets) 0.64% 1.81% 3.53% 2.05% 2.86% 2.73% 3.29% 3.96%
Assets 1 16,558 17,056 16,241 15,908 12,712 17,848 17,938 19,194
Book Value Per Share 2 10.30 11.50 12.20 13.00 14.40 15.50 16.20 17.20
Cash Flow per Share - - - - - - - -
Capex 1 3,117 1,760 1,192 2,157 2,584 3,464 3,707 4,064
Capex / Sales 108.46% 55.45% 39.26% 69.92% 68.45% 91.92% 93.88% 95.57%
Announcement Date 28/02/20 12/02/21 10/02/22 15/02/23 15/02/24 - - -
1NOK in Million2NOK
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
B
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
3
Last Close Price
8.95 NOK
Average target price
10.37 NOK
Spread / Average Target
+15.83%
Consensus
  1. Stock Market
  2. Equities
  3. B2H Stock
  4. Financials B2 Impact ASA