Financials PT Summarecon Agung Tbk

Equities

End-of-day quote INDONESIA S.E. Other stock markets 23:00:00 02/05/2024 BST			5-day change	1st Jan Change
510 ^IDR	0.00%		+2.00%	-11.30%

03-18	PT Summarecon Agung Tbk Reports Earnings Results for the Full Year Ended December 31, 2023	CI
2023	PT Summarecon Agung Tbk Reports Earnings Results for the Nine Months Ended September 30, 2023	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	14,498,916	11,613,559	13,784,655	9,987,684	9,492,427	8,419,370	-	-
Enterprise Value (EV) ²	21,895	19,415	18,050	12,754	13,397	11,662	10,843	8,419
P/E ratio	28.2 x	64.6 x	40.1 x	16 x	12.4 x	9.19 x	8.49 x	7.85 x
Yield	0.5%	-	-	0.99%	-	1.47%	1.91%	1.72%
Capitalization / Revenue	2.44 x	2.31 x	2.48 x	1.75 x	1.43 x	1.15 x	1.11 x	1.08 x
EV / Revenue	3.68 x	3.86 x	3.24 x	2.23 x	2.01 x	1.6 x	1.44 x	1.08 x
EV / EBITDA	11.8 x	12.6 x	9.93 x	6.43 x	6.19 x	5.1 x	4.39 x	3.43 x
EV / FCF	79.2 x	-69.4 x	7.72 x	5.76 x	32.7 x	26.5 x	23.2 x	-
FCF Yield	1.26%	-1.44%	13%	17.4%	3.06%	3.77%	4.31%	-
Price to Book	1.97 x	1.7 x	1.59 x	1.09 x	0.97 x	0.78 x	0.74 x	0.66 x
Nbr of stocks (in thousands)	14,426,782	14,426,782	16,508,568	16,508,568	16,508,568	16,508,568	-	-
Reference price ³	1,005	805.0	835.0	605.0	575.0	510.0	510.0	510.0
Announcement Date	27/03/20	06/04/21	25/03/22	24/03/23	18/03/24	-	-	-

¹IDR in Million²IDR in Billions³IDR

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	5,942	5,030	5,568	5,719	6,659	7,294	7,552	7,825
EBITDA ¹	1,858	1,546	1,819	1,984	2,164	2,286	2,467	2,457
EBIT ¹	1,580	1,270	1,554	1,726	1,900	2,004	2,208	2,080
Operating Margin	26.59%	25.25%	27.92%	30.18%	28.53%	27.47%	29.24%	26.58%
Earnings before Tax (EBT) ¹	922.9	439.8	755.9	1,018	1,345	1,409	1,633	1,606
Net income ¹	515	179.8	323.7	625.4	766	911.4	974.8	1,014
Net margin	8.67%	3.58%	5.81%	10.93%	11.5%	12.49%	12.91%	12.96%
EPS ²	35.70	12.47	20.82	37.88	46.40	55.48	60.07	65.00
Free Cash Flow ³	276,300	-279,930	2,337,909	2,213,020	409,781	439,900	467,200	-
FCF margin	4,650.24%	-5,565.23%	41,988.97%	38,693.25%	6,154%	6,030.82%	6,186.54%	-
FCF Conversion (EBITDA)	14,870.44%	-	128,553.43%	111,528.28%	18,939.25%	19,243.21%	18,935.78%	-
FCF Conversion (Net income)	53,652.1%	-	722,226.03%	353,869.64%	53,498.37%	48,267.11%	47,928.23%	-
Dividend per Share ²	5.000	-	-	6.000	-	7.487	9.760	8.790
Announcement Date	27/03/20	06/04/21	25/03/22	24/03/23	18/03/24	-	-	-

¹IDR in Billions²IDR³IDR in Million

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	7,396	7,801	4,265	2,767	3,905	3,242	2,423	-
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	3.98 x	5.047 x	2.345 x	1.394 x	1.805 x	1.418 x	0.9822 x	-
Free Cash Flow ²	276,300	-279,930	2,337,909	2,213,020	409,781	439,900	467,200	-
ROE (net income / shareholders' equity)	7.22%	2.53%	4.18%	7%	8.05%	8.67%	8.41%	8.1%
ROA (Net income/ Total Assets)	2.16%	0.73%	1.27%	2.3%	2.57%	2.68%	2.88%	2.95%
Assets ¹	23,871	24,682	25,487	27,238	29,801	34,071	33,847	34,373
Book Value Per Share ³	511.0	475.0	525.0	557.0	595.0	650.0	689.0	778.0
Cash Flow per Share ³	35.00	-1.590	157.0	161.0	84.70	55.40	64.20	-
Capex ¹	228	257	105	444	988	1,069	771	1,357
Capex / Sales	3.84%	5.11%	1.89%	7.76%	14.84%	14.65%	10.21%	17.34%
Announcement Date	27/03/20	06/04/21	25/03/22	24/03/23	18/03/24	-	-	-

¹IDR in Billions²IDR in Million³IDR

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

B-

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

510 IDR

Average target price

764.2 IDR

Spread / Average Target

+49.84%

	1st Jan change	Capi.
PT SUMMARECON AGUNG TBK	-11.30%	524M
MITSUI FUDOSAN CO., LTD.	+40.41%	29.66B
SUN HUNG KAI PROPERTIES LIMITED	-11.60%	27.69B
CHINA RESOURCES LAND LIMITED	+7.86%	27.57B
DLF LIMITED	+20.90%	26.07B
MITSUBISHI ESTATE CO., LTD.	+49.25%	24.02B
CHINA OVERSEAS LAND & INVESTMENT LTD.	+13.23%	21.83B
EMAAR PROPERTIES	-1.52%	18.77B
SUMITOMO REALTY & DEVELOPMENT CO., LTD.	+28.90%	16.76B
CK ASSET HOLDINGS LIMITED	-13.27%	15.28B