Financials Novem Group S.A.

Equities

LU2356314745

Auto, Truck & Motorcycle Parts

End-of-day quote Xetra Other stock markets 23:00:00 08/05/2024 BST			5-day change	1st Jan Change
5.76 ^EUR	0.00%		-1.71%	-20.00%

02-15	Transcript : Novem Group S.A., Q3 2024 Earnings Call, Feb 15, 2024
02-15	Novem Group S.A. Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2023	CI

Valuation

Fiscal Period: March	2022	2023	2024	2025	2026
Capitalization ¹	445.4	421.7	247	-	-
Enterprise Value (EV) ¹	577.5	505.6	347.4	315.4	283.1
P/E ratio	10.1 x	8.45 x	6.22 x	4.15 x	3.83 x
Yield	3.86%	4.08%	10.7%	9.3%	10.6%
Capitalization / Revenue	0.72 x	0.6 x	0.37 x	0.35 x	0.34 x
EV / Revenue	0.94 x	0.72 x	0.52 x	0.45 x	0.39 x
EV / EBITDA	5.56 x	4.47 x	3.46 x	2.52 x	2.14 x
EV / FCF	9.31 x	6.29 x	5.3 x	6.47 x	4.99 x
FCF Yield	10.7%	15.9%	18.9%	15.5%	20%
Price to Book	6.58 x	3.93 x	1.8 x	2.12 x	1.9 x
Nbr of stocks (in thousands)	43,030	43,030	43,030	-	-
Reference price ²	10.35	9.800	5.740	5.740	5.740
Announcement Date	02/06/22	01/06/23	-	-	-

¹EUR in Million²EUR

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March	2021	2022	2023	2024	2025	2026
Net sales ¹	602.7	614.5	700.3	673.5	705.8	733.2
EBITDA ¹	-	103.8	113	100.5	125.3	132.4
EBIT ¹	-	80.9	81.7	70.27	92.58	98.52
Operating Margin	-	13.17%	11.67%	10.43%	13.12%	13.44%
Earnings before Tax (EBT) ¹	-	50.5	70.9	53.05	84.93	92.9
Net income ¹	9.735	44	50	39.67	59.22	64.42
Net margin	1.62%	7.16%	7.14%	5.89%	8.39%	8.79%
EPS ²	-	1.020	1.160	0.9233	1.382	1.500
Free Cash Flow ¹	-	62	80.4	65.5	48.75	56.75
FCF margin	-	10.09%	11.48%	9.73%	6.91%	7.74%
FCF Conversion (EBITDA)	-	59.73%	71.15%	65.2%	38.91%	42.86%
FCF Conversion (Net income)	-	140.91%	160.8%	165.13%	82.31%	88.09%
Dividend per Share ²	-	0.4000	0.4000	0.6133	0.5336	0.6097
Announcement Date	15/07/21	02/06/22	01/06/23	-	-	-

¹EUR in Million²EUR

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March	2022 Q2	2023 Q1	2023 Q2	2023 Q3	2024 Q1
Net sales ¹	139.2	-	177.4	166.9	181.9
EBITDA	-	-	-	-	-
EBIT ¹	12.4	-	20.1	19	21.4
Operating Margin	8.91%	-	11.33%	11.38%	11.76%
Earnings before Tax (EBT)	-	-	-	-	-
Net income	-	8.5	-	-	-
Net margin	-	-	-	-	-
EPS	-	-	-	-	-
Dividend per Share	-	-	-	-	-
Announcement Date	16/12/21	18/08/22	30/11/22	16/02/23	17/08/23

¹EUR in Million

Estimates

Balance Sheet Analysis

Fiscal Period: March	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	132	83.9	100	68.4	36.1
Net Cash position ¹	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	1.273 x	0.7425 x	0.9989 x	0.5458 x	0.2723 x
Free Cash Flow ¹	-	62	80.4	65.5	48.8	56.8
ROE (net income / shareholders' equity)	-	-	57.2%	39.5%	37.7%	35.3%
ROA (Net income/ Total Assets)	-	8.33%	8.27%	6.54%	7.77%	8.72%
Assets ¹	-	528.3	604.9	606.2	762.6	739.2
Book Value Per Share ²	-	1.570	2.490	3.190	2.710	3.020
Cash Flow per Share ²	-	1.870	2.290	2.320	-	-
Capex ¹	-	18.5	17.9	15.4	23.4	26.2
Capex / Sales	-	3.01%	2.56%	2.29%	3.32%	3.57%
Announcement Date	15/07/21	02/06/22	01/06/23	-	-	-

¹EUR in Million²EUR

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Novem Group S.A.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

5.74 EUR

Average target price

14.18 EUR

Spread / Average Target

+146.95%

Consensus

EPS Revisions

Estimates Revisions

Quarterly revenue - Rate of surprise

Company calendar

Sector Automotive Accessories

	1st Jan change	Capi.
NOVEM GROUP S.A.	-20.00%	266M
GENTEX CORPORATION	+7.65%	8.13B
CHANGZHOU XINGYU AUTOMOTIVE LIGHTING SYSTEMS CO.,LTD.	+4.23%	5.4B
THULE GROUP AB	+17.89%	3.16B
TOYOTA BOSHOKU CORPORATION	+1.90%	2.61B
ADIENT PLC	-20.49%	2.6B
NINGBO JIFENG AUTO PARTS CO., LTD.	-1.56%	2.32B
PHINIA INC.	+44.21%	2B
KUNSHAN HUGUANG AUTO HARNESS CO.,LTD.	+47.54%	1.77B
NINGBO HUAXIANG ELECTRONIC CO., LTD.	+11.15%	1.61B

Automotive Accessories