Company Valuation: Impact Developer & Contractor S.A.

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 491.1 1,089 851 622 449.3 520.3
Change - 121.8% -21.88% -26.91% -27.76% 15.79%
Enterprise Value (EV) 1 689.3 1,386 1,187 984.3 694.5 655.7
Change - 101.02% -14.34% -17.07% -29.45% -5.58%
P/E 6.66x 13.7x 9.8x 23.2x 7.66x 6.96x
PBR 0.77x 1.54x 0.97x 0.68x 0.47x 0.5x
PEG - 1.62x 13.99x -0.3x 0x 0.3x
Capitalization / Revenue 2.39x 7.89x 3.88x 3.63x 1.46x 1.57x
EV / Revenue 3.36x 10x 5.42x 5.75x 2.25x 1.98x
EV / EBITDA 18.3x 107x 31.6x 97.9x 13.8x 16.2x
EV / EBIT 19.2x 114x 33.7x 163x 14.9x 18.5x
EV / FCF -19.2x -18.6x -11.6x -42.7x 7.09x 4.91x
FCF Yield -5.2% -5.39% -8.65% -2.34% 14.1% 20.4%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 0.6726 0.7294 0.7345 0.2267 0.496 0.6321
Distribution rate - - - - - -
Net sales 1 205.3 138.1 219.2 171.2 308.3 331.1
EBITDA 1 37.73 12.96 37.57 10.05 50.49 40.38
EBIT 1 35.99 12.17 35.24 6.047 46.61 35.43
Net income 1 74.86 78.8 85.62 26.81 58.68 74.75
Net Debt 1 198.2 296.4 336 362.3 245.1 135.4
Reference price 2 4.476 10.000 7.200 5.260 3.800 4.400
Nbr of stocks (in thousands) 109,711 108,924 118,188 118,247 118,247 118,247
Announcement Date 20/03/21 29/04/22 28/04/23 30/04/24 30/04/25 31/03/26
1RON in Million2RON
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 107M
15.51x4.92x13.25x3.27% 44.16B
18.25x4x16.07x1.34% 28.47B
8.36x1.53x7.99x4.29% 27.74B
5.5x0.66x1.4x9.09% 26.47B
14.38x3.1x14.83x2.51% 26.04B
10.51x2.12x9.04x4% 21.13B
7.81x0.86x3.15x2.86% 19.97B
13.23x6.43x16.91x1.65% 19.16B
10.05x1.48x12.38x3.81% 18.38B
Average 11.51x 2.79x 10.56x 3.65% 23.16B
Weighted average by Cap. 11.97x 2.96x 10.77x 3.67%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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