Financials Sidi Kerir Petrochemicals Co.

Equities

SKPC

EGS380S1C017

Commodity Chemicals

End-of-day quote Egyptian Exchange Other stock markets 23:00:00 19/05/2024 BST			5-day change	1st Jan Change
31.98 ^EGP	-1.20%		+18.18%	+10.01%

02-05	Sidi Kerir Petrochemicals Co. Reports Earnings Results for the Full Year Ended December 31, 2023	CI
2023	Sidi Kerir Petrochemicals Co. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023	CI

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	4,714	4,888	4,914	8,266	21,977	24,177	-	-
Enterprise Value (EV) ¹	4,500	4,650	5,259	8,236	20,808	21,189	20,851	18,702
P/E ratio	11 x	11.2 x	10.4 x	7.45 x	10.6 x	6.95 x	7.58 x	6.86 x
Yield	-	-	-	-	-	6.48%	6.24%	6.63%
Capitalization / Revenue	0.95 x	1.41 x	0.96 x	0.95 x	1.67 x	1.48 x	1.47 x	1.39 x
EV / Revenue	0.91 x	1.34 x	1.02 x	0.95 x	1.58 x	1.3 x	1.27 x	1.08 x
EV / EBITDA	6.75 x	210 x	6.51 x	4.6 x	6.34 x	5.12 x	5.96 x	5.09 x
EV / FCF	239 x	-23.8 x	109 x	7.18 x	8.02 x	7.95 x	8.12 x	7.69 x
FCF Yield	0.42%	-4.19%	0.91%	13.9%	12.5%	12.6%	12.3%	13%
Price to Book	1.37 x	1.51 x	1.3 x	1.79 x	3.52 x	3.25 x	2.87 x	2.43 x
Nbr of stocks (in thousands)	756,000	756,000	756,000	756,000	756,000	756,000	-	-
Reference price ²	6.236	6.465	6.500	10.93	29.07	31.98	31.98	31.98
Announcement Date	26/02/20	25/02/21	17/02/22	16/02/23	05/02/24	-	-	-

¹EGP in Million²EGP

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	4,961	3,467	5,134	8,658	13,192	16,356	16,474	17,360
EBITDA ¹	666.6	22.19	808.1	1,790	3,280	4,135	3,499	3,676
EBIT ¹	609.6	-43.69	743.1	1,721	3,221	4,048	3,409	3,602
Operating Margin	12.29%	-1.26%	14.48%	19.88%	24.42%	24.75%	20.69%	20.75%
Earnings before Tax (EBT) ¹	601	12.87	691.3	1,630	3,255	4,292	3,761	3,853
Net income ¹	487	25.95	535.2	1,238	2,459	3,584	3,409	3,510
Net margin	9.82%	0.75%	10.42%	14.3%	18.64%	21.91%	20.7%	20.22%
EPS ²	0.5694	0.5764	0.6250	1.467	2.750	4.600	4.220	4.662
Free Cash Flow ¹	18.85	-195.1	48.04	1,147	2,596	2,666	2,568	2,431
FCF margin	0.38%	-5.63%	0.94%	13.25%	19.68%	16.3%	15.59%	14%
FCF Conversion (EBITDA)	2.83%	-	5.94%	64.08%	79.12%	64.47%	73.4%	66.13%
FCF Conversion (Net income)	3.87%	-	8.98%	92.63%	105.57%	74.39%	75.34%	69.25%
Dividend per Share ²	-	-	-	-	-	2.073	1.997	2.122
Announcement Date	26/02/20	25/02/21	17/02/22	16/02/23	05/02/24	-	-	-

¹EGP in Million²EGP

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2020 S1	2021 Q3	2021 S2	2022 S1	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4
Net sales ¹	1,671	1,098	-	3,879	1,923	2,856	-	2,948	3,169	3,459
EBITDA ¹	-	-	388.1	-	-	-	-	862	-	771.7
EBIT	-	109.1	-	-	382.6	776	-	-	-	-
Operating Margin	-	9.93%	-	-	19.9%	27.17%	-	-	-	-
Earnings before Tax (EBT)	-	-	-	-	-	-	-	-	-	-
Net income ¹	-29	-	-	468	276.9	493.6	520.1	678.2	605.1	644.4
Net margin	-1.74%	-	-	12.06%	14.4%	17.29%	-	23%	19.09%	18.63%
EPS	-	-	-	-	-	-	0.6200	-	-	-
Dividend per Share	-	-	-	-	-	-	-	-	-	-
Announcement Date	06/09/20	09/11/21	17/02/22	05/08/22	14/11/22	16/02/23	28/05/23	16/08/23	06/11/23	05/02/24

¹EGP in Million

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	345	-	-	-	-	-
Net Cash position ¹	214	237	-	29.2	1,169	2,988	3,326	5,475
Leverage (Debt/EBITDA)	-	-	0.4272 x	-	-	-	-	-
Free Cash Flow ¹	18.8	-195	48	1,147	2,596	2,666	2,569	2,431
ROE (net income / shareholders' equity)	13.5%	0.78%	15.2%	14.8%	41.3%	45.4%	35.1%	31.2%
ROA (Net income/ Total Assets)	8.81%	0.53%	9.96%	8.42%	23.3%	29.5%	22.1%	21.1%
Assets ¹	5,525	4,932	5,371	14,710	10,559	12,134	15,404	16,610
Book Value Per Share ²	4.560	4.290	5.000	6.100	8.270	9.850	11.20	13.20
Cash Flow per Share ²	0.7500	-0.1600	0.9100	1.540	3.690	3.460	4.120	3.840
Capex ¹	545	77.9	20.6	14.1	197	168	181	153
Capex / Sales	10.99%	2.25%	0.4%	0.16%	1.49%	1.03%	1.1%	0.88%
Announcement Date	26/02/20	25/02/21	17/02/22	16/02/23	05/02/24	-	-	-

¹EGP in Million²EGP

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Sidi Kerir Petrochemicals Co.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

31.98 EGP

Average target price

35.3 EGP

Spread / Average Target

+10.39%

Consensus

EPS Revisions

Estimates Revisions

Quarterly revenue - Rate of surprise

Company calendar

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