Financials Douja Promotion Groupe Addoha S.A.

Equities

End-of-day quote Casablanca S.E. Other stock markets 23:00:00 27/06/2024 BST			5-day change	1st Jan Change
30.28 ^MAD	+0.90%		+2.26%	+111.30%

04-30	Douja Promotion Groupe Addoha S.A. Reports Earnings Results for the Full Year Ended December 31, 2023	CI
2023	Douja Promotion Groupe Addoha S.A. Reports Earnings Results for the Half Year Ended June 30, 2023	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	3,627	2,555	4,242	2,511	5,730	11,679	-	-
Enterprise Value (EV) ¹	8,835	2,555	8,690	7,111	5,730	15,776	15,687	11,679
P/E ratio	10.8 x	-	-48.2 x	69.8 x	33.3 x	28.8 x	33.5 x	27.5 x
Yield	-	-	-	-	-	1.82%	1.82%	1.82%
Capitalization / Revenue	1.04 x	-	3.55 x	1.82 x	2.68 x	3.65 x	3.61 x	3.11 x
EV / Revenue	2.54 x	-	7.26 x	5.16 x	2.68 x	4.93 x	4.84 x	3.11 x
EV / EBITDA	11.4 x	-	-45.8 x	338 x	39.7 x	34.4 x	26.4 x	-
EV / FCF	18.9 x	12.7 x	28.3 x	-40.5 x	-	69.8 x	50.6 x	-
FCF Yield	5.28%	7.88%	3.54%	-2.47%	-	1.43%	1.98%	-
Price to Book	-	-	-	-	-	-	-	-
Nbr of stocks (in thousands)	319,834	399,828	399,828	399,828	399,828	399,828	-	-
Reference price ²	11.34	6.390	10.61	6.280	14.33	30.28	30.28	30.28
Announcement Date	19/04/20	29/04/22	29/04/22	03/05/23	30/04/24	-	-	-

¹MAD in Million²MAD

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	3,480	-	1,197	1,378	2,134	3,201	3,238	3,755
EBITDA ¹	777.4	-	-189.6	21.03	144.5	458	595	-
EBIT ¹	610.6	-	-143.7	126.7	143.8	457	409.4	250
Operating Margin	17.55%	-	-12.01%	9.19%	6.74%	14.28%	12.65%	6.66%
Earnings before Tax (EBT)	-	-	-	-	-	-	-	-
Net income ¹	335.6	-	-88.28	37.52	174.7	421	356.6	443.6
Net margin	9.64%	-	-7.38%	2.72%	8.19%	13.15%	11.01%	11.81%
EPS ²	1.050	-	-0.2200	0.0900	0.4300	1.050	0.9050	1.100
Free Cash Flow ¹	466.3	201.2	307.3	-175.5	-	226	310	-
FCF margin	13.4%	-	25.68%	-12.74%	-	7.06%	9.57%	-
FCF Conversion (EBITDA)	59.98%	-	-	-	-	49.34%	52.1%	-
FCF Conversion (Net income)	138.96%	-	-	-	-	53.68%	86.94%	-
Dividend per Share ²	-	-	-	-	-	0.5500	0.5500	0.5500
Announcement Date	19/04/20	29/04/22	29/04/22	03/05/23	30/04/24	-	-	-

¹MAD in Million²MAD

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	5,208	-	4,448	4,600	-	4,097	4,008	-
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	6.699 x	-	-23.46 x	218.7 x	-	8.945 x	6.736 x	-
Free Cash Flow ¹	466	201	307	-176	-	226	310	-
ROE (net income / shareholders' equity)	3.43%	-	-0.99%	0.43%	-	4.53%	5.87%	7.16%
ROA (Net income/ Total Assets)	-	-	-	-	-	-	-	-
Assets ¹	-	-	-	-	-	-	-	-
Book Value Per Share	-	-	-	-	-	-	-	-
Cash Flow per Share	-	-	-	-	-	-	-	-
Capex ¹	7.52	-	159	21.3	-	64	83.2	-
Capex / Sales	0.22%	-	13.28%	1.54%	-	2%	2.57%	-
Announcement Date	19/04/20	29/04/22	29/04/22	03/05/23	30/04/24	-	-	-

¹MAD in Million

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

D+

Sell

Buy

Mean consensus

UNDERPERFORM

Number of Analysts

Last Close Price

30.28 MAD

Average target price

20.8 MAD

Spread / Average Target

-31.31%

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