Financials Lesieur Cristal S.A.

Equities

End-of-day quote Casablanca S.E. Other stock markets 23:00:00 25/04/2024 BST			5-day change	1st Jan Change
273 ^MAD	-0.22%		+0.37%	+1.11%

03-18	Lesieur Cristal S.A.(CBSE:LES) added to S&P Pan Arab Composite	CI
2023	Lesieur Cristal S.A. Reports Earnings Results for the Half Year Ended June 30, 2023	CI

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Capitalization ¹	3,744	4,974	4,476	5,416	6,355	7,543	7,543	-
Enterprise Value (EV) ¹	3,497	4,673	4,464	5,416	5,880	7,553	6,934	7,543
P/E ratio	45.2 x	30 x	-	39.2 x	32.9 x	96.1 x	74.6 x	62 x
Yield	2.58%	1.94%	-	-	1.96%	0.55%	1.1%	1.1%
Capitalization / Revenue	0.87 x	1.27 x	1.15 x	1.11 x	0.92 x	1.26 x	1.21 x	1.14 x
EV / Revenue	0.81 x	1.2 x	1.15 x	1.11 x	0.85 x	1.26 x	1.11 x	1.14 x
EV / EBITDA	9.2 x	13.3 x	11.5 x	12.1 x	8.02 x	21.3 x	17.6 x	-
EV / FCF	11 x	25.7 x	78.3 x	-	10.3 x	-20.9 x	10.5 x	-
FCF Yield	9.06%	3.89%	1.28%	-	9.74%	-4.78%	9.52%	-
Price to Book	2.49 x	-	-	-	-	-	-	-
Nbr of stocks (in thousands)	27,632	27,632	27,632	27,632	27,632	27,632	27,632	-
Reference price ²	135.5	180.0	162.0	196.0	230.0	273.0	273.0	273.0
Announcement Date	26/03/19	27/03/20	27/03/21	05/04/22	18/04/23	-	-	-

¹MAD in Million²MAD

Estimates

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net sales ¹	4,298	3,910	3,890	4,863	6,897	6,000	6,240	6,615
EBITDA ¹	380	351	389	448	733	354	393	-
EBIT ¹	290	254	287	309	463	174	206	-
Operating Margin	6.75%	6.5%	7.38%	6.35%	6.71%	2.9%	3.3%	-
Earnings before Tax (EBT)	-	-	244	-	-	-	-	-
Net income ¹	89	166	157	-	206	78.5	101	122
Net margin	2.07%	4.25%	4.04%	-	2.99%	1.31%	1.62%	1.84%
EPS ²	3.000	6.000	-	5.000	7.000	2.840	3.660	4.400
Free Cash Flow ¹	317	182	57	-	573	-361	660	-
FCF margin	7.38%	4.65%	1.47%	-	8.31%	-6.02%	10.58%	-
FCF Conversion (EBITDA)	83.42%	51.85%	14.65%	-	78.17%	-	167.94%	-
FCF Conversion (Net income)	356.18%	109.64%	36.31%	-	278.16%	-	653.47%	-
Dividend per Share ²	3.500	3.500	-	-	4.500	1.500	3.000	3.000
Announcement Date	26/03/19	27/03/20	27/03/21	05/04/22	18/04/23	-	-	-

¹MAD in Million²MAD

Estimates

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net Debt ¹	-	-	-	-	-	9.78	-	-
Net Cash position ¹	247	301	12	-	475	-	609	-
Leverage (Debt/EBITDA)	-	-	-	-	-	0.0276 x	-	-
Free Cash Flow ¹	317	182	57	-	573	-361	660	-
ROE (net income / shareholders' equity)	5.41%	10.1%	9.18%	7.92%	11.2%	4.25%	5.46%	6.39%
ROA (Net income/ Total Assets)	-	-	-	-	-	-	-	-
Assets ¹	-	-	-	-	-	-	-	-
Book Value Per Share	54.50	-	-	-	-	-	-	-
Cash Flow per Share	-	-	-	-	-	-	-	-
Capex ¹	101	41	42	-	93	90	93.6	-
Capex / Sales	2.35%	1.05%	1.08%	-	1.35%	1.5%	1.5%	-
Announcement Date	26/03/19	27/03/20	27/03/21	05/04/22	18/04/23	-	-	-

¹MAD in Million

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

UNDERPERFORM

Number of Analysts

Last Close Price

273 MAD

Average target price

257 MAD

Spread / Average Target

-5.86%

	1st Jan change	Capi.
LESIEUR CRISTAL S.A.	+1.11%	744M
NESTLÉ S.A.	-4.93%	266B
MONDELEZ INTERNATIONAL, INC.	-2.51%	94.98B
KRAFT HEINZ	+3.19%	46.39B
GENERAL MILLS, INC.	+8.74%	39.99B
DANONE	-0.65%	39.95B
THE HERSHEY COMPANY	-0.15%	38.02B
ARCHER-DANIELS-MIDLAND COMPANY	-16.78%	30.16B
NESTLÉ INDIA LIMITED	-6.61%	28.72B
ASSOCIATED BRITISH FOODS PLC	+11.32%	24.54B