Financials CSSC (Hong Kong) Shipping Company Limited

Equities

Market Closed - Hong Kong S.E. Other stock markets 09:08:34 21/06/2024 BST			5-day change	1st Jan Change
1.56 ^HKD	0.00%		-3.11%	+5.41%

06-04	Cssc (Hong Kong) Shipping Company Limited Proposes Final Dividend for the Year Ended December 31, 2023, Payable July 31, 2024	CI
05-23	CSSC (Hong Kong) Shipping’s Chairman Retires; Successor Named	MT

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	8,038	6,688	6,688	7,118	9,083	9,590	-	-
Enterprise Value (EV) ¹	23,958	6,688	35,186	33,525	9,083	9,590	9,590	9,590
P/E ratio	8.04 x	6.02 x	4.95 x	4.22 x	4.77 x	4.59 x	4.11 x	3.8 x
Yield	6.11%	-	8.26%	8.62%	8.11%	8.97%	9.62%	-
Capitalization / Revenue	3.5 x	-	2.71 x	2.22 x	2.5 x	2.37 x	2.02 x	2 x
EV / Revenue	3.5 x	-	2.71 x	2.22 x	2.5 x	2.37 x	2.02 x	2 x
EV / EBITDA	7.4 x	-	-	2.7 x	2.91 x	3.56 x	3.22 x	-
EV / FCF	8,570,627 x	-	-643,418 x	-	-	-	-	-
FCF Yield	0%	-	-0%	-	-	-	-	-
Price to Book	0.85 x	-	-	0.62 x	0.71 x	0.68 x	0.62 x	-
Nbr of stocks (in thousands)	6,136,066	6,136,066	6,136,066	6,136,066	6,136,878	6,147,720	-	-
Reference price ²	1.310	1.090	1.090	1.160	1.480	1.560	1.560	1.560
Announcement Date	29/03/20	31/03/21	25/03/22	24/03/23	26/03/24	-	-	-

¹HKD in Million²HKD

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	2,294	-	2,470	3,208	3,626	4,043	4,746	4,805
EBITDA ¹	1,086	-	-	2,634	3,121	2,693	2,978	-
EBIT	847.6	-	-	1,432	-	-	-	-
Operating Margin	36.94%	-	-	44.62%	-	-	-	-
Earnings before Tax (EBT) ¹	904.2	-	1,401	1,756	1,944	2,146	2,359	2,594
Net income ¹	883.1	1,109	1,352	1,685	1,902	2,102	2,318	2,541
Net margin	38.49%	-	54.72%	52.52%	52.44%	51.99%	48.85%	52.88%
EPS ²	0.1630	0.1810	0.2200	0.2750	0.3100	0.3400	0.3800	0.4100
Free Cash Flow	937.9	-	-10,395	-	-	-	-	-
FCF margin	40.88%	-	-420.85%	-	-	-	-	-
FCF Conversion (EBITDA)	86.37%	-	-	-	-	-	-	-
FCF Conversion (Net income)	106.21%	-	-	-	-	-	-	-
Dividend per Share ²	0.0800	-	0.0900	0.1000	0.1200	0.1400	0.1500	-
Announcement Date	29/03/20	31/03/21	25/03/22	24/03/23	26/03/24	-	-	-

¹HKD in Million²HKD

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	15,920	-	28,497	26,407	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	14.66 x	-	-	10.02 x	-	-	-	-
Free Cash Flow	938	-	-10,395	-	-	-	-	-
ROE (net income / shareholders' equity)	12.5%	-	14.2%	15.6%	15.7%	14.7%	16.1%	14.3%
ROA (Net income/ Total Assets)	3.1%	-	3.79%	4.14%	4.5%	4.43%	4.48%	4.34%
Assets ¹	28,487	-	35,707	40,698	42,258	47,503	51,810	58,548
Book Value Per Share ²	1.550	-	-	1.880	2.090	2.300	2.500	-
Cash Flow per Share ²	0.6200	-	-0.8200	0.6300	-	0.3600	0.4200	-
Capex ¹	2,439	-	5,376	1,990	2,626	2,447	3,250	3,386
Capex / Sales	106.3%	-	217.63%	62.04%	72.42%	60.51%	68.47%	70.47%
Announcement Date	29/03/20	31/03/21	25/03/22	24/03/23	26/03/24	-	-	-

¹HKD in Million²HKD

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

1.56 HKD

Average target price

2.08 HKD

Spread / Average Target

+33.33%

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