BAINS DE MER DE MONACO |
Market Closed -
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After market 20:59:50 | |||
| 103.5 EUR | +0.49% |
|
103 | -0.48% |
| 07-04 | Société Anonyme des Bains de Mer et du Cercle des Étrangers à Monaco Reports Earnings Results for the Full Year Ended March 31, 2024 | CI |
| 05-29 | SBM: net income largely positive in 2023-24 | CF |
Valuation
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|
| Capitalization 1 | 1,155 | 1,373 | 1,554 | 1,598 | 2,251 | 2,525 |
| Enterprise Value (EV) 1 | 1,278 | 1,549 | 1,720 | 1,598 | 1,983 | 2,476 |
| P/E ratio | 448 x | 52.6 x | -19.6 x | 21 x | 2.51 x | 24.3 x |
| Yield | - | - | - | 1.53% | 1.31% | - |
| Capitalization / Revenue | 2.19 x | 2.22 x | 4.61 x | 3.01 x | 3.37 x | 3.59 x |
| EV / Revenue | 2.43 x | 2.5 x | 5.1 x | 3.01 x | 2.97 x | 3.52 x |
| EV / EBITDA | 33 x | 16.7 x | -3,917 x | 14.7 x | 13.9 x | 16.6 x |
| EV / FCF | -8.26 x | -26.7 x | 1,552 x | 17.3 x | 43.3 x | -20.2 x |
| FCF Yield | -12.1% | -3.75% | 0.06% | 5.77% | 2.31% | -4.94% |
| Price to Book | 1.86 x | 2.11 x | 2.74 x | 2.45 x | 1.49 x | 1.61 x |
| Nbr of stocks (in thousands) | 24,517 | 24,517 | 24,517 | 24,517 | 24,517 | 24,517 |
| Reference price 2 | 47.10 | 56.00 | 63.40 | 65.20 | 91.80 | 103.0 |
| Announcement Date | 11/07/19 | 08/07/20 | 23/06/21 | 30/06/22 | 05/07/23 | 04/07/24 |
1EUR in Million2EUR
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|
| Net sales 1 | 526.5 | 619.8 | 336.9 | 530.5 | 667 | 704 |
| EBITDA 1 | 38.71 | 92.8 | -0.439 | 108.7 | 142.7 | 149.5 |
| EBIT 1 | -8.613 | 22.74 | -77.88 | 36.76 | 72.28 | 73.61 |
| Operating Margin | -1.64% | 3.67% | -23.12% | 6.93% | 10.84% | 10.46% |
| Earnings before Tax (EBT) 1 | 2.782 | 26.3 | -79.35 | 76.35 | 896.2 | 103.9 |
| Net income 1 | 2.577 | 26.12 | -79.11 | 76.35 | 896.2 | 103.9 |
| Net margin | 0.49% | 4.21% | -23.48% | 14.39% | 134.37% | 14.76% |
| EPS 2 | 0.1051 | 1.065 | -3.230 | 3.110 | 36.56 | 4.240 |
| Free Cash Flow 1 | -154.8 | -58.06 | 1.108 | 92.28 | 45.83 | -122.4 |
| FCF margin | -29.41% | -9.37% | 0.33% | 17.39% | 6.87% | -17.39% |
| FCF Conversion (EBITDA) | - | - | - | 84.89% | 32.1% | - |
| FCF Conversion (Net income) | - | - | - | 120.86% | 5.11% | - |
| Dividend per Share | - | - | - | 1.000 | 1.200 | - |
| Announcement Date | 11/07/19 | 08/07/20 | 23/06/21 | 30/06/22 | 05/07/23 | 04/07/24 |
1EUR in Million2EUR
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|
| Net Debt 1 | 124 | 177 | 165 | - | - | - |
| Net Cash position 1 | - | - | - | 0.42 | 268 | 48.7 |
| Leverage (Debt/EBITDA) | 3.195 x | 1.902 x | -376.3 x | - | - | - |
| Free Cash Flow 1 | -155 | -58.1 | 1.11 | 92.3 | 45.8 | -122 |
| ROE (net income / shareholders' equity) | 0.45% | 4.13% | -13% | 12.5% | 82.9% | 6.76% |
| ROA (Net income/ Total Assets) | -0.42% | 1.01% | -3.6% | 1.78% | 2.7% | 2.21% |
| Assets 1 | -614.6 | 2,581 | 2,200 | 4,278 | 33,196 | 4,696 |
| Book Value Per Share 2 | 25.40 | 26.50 | 23.10 | 26.60 | 61.60 | 63.90 |
| Cash Flow per Share 2 | 4.850 | 4.480 | 4.110 | 8.500 | 10.60 | 2.840 |
| Capex 1 | 200 | 128 | 43.2 | 23.8 | 95.6 | 108 |
| Capex / Sales | 37.97% | 20.61% | 12.82% | 4.49% | 14.33% | 15.27% |
| Announcement Date | 11/07/19 | 08/07/20 | 23/06/21 | 30/06/22 | 05/07/23 | 04/07/24 |
1EUR in Million2EUR
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Change in Enterprise Value/EBITDA
| 1st Jan change | Capi. | |
|---|---|---|
| +1.47% | 2.73B | |
| +10.31% | 34.68B | |
| -7.67% | 21.94B | |
| +24.08% | 21.69B | |
| -22.86% | 19.72B | |
| +6.64% | 17.96B | |
| -29.37% | 17.09B | |
| +2.77% | 10.26B | |
| -19.67% | 8.05B | |
| -0.21% | 7.34B |
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