Financials Sogeclair LIQUIDNET SYSTEMS

Equities

End-of-day quote LIQUIDNET SYSTEMS Other stock markets			5-day change	1st Jan Change
- ^EUR	-.--%		-.--%	-.--%

04-30	Sogeclair SA Reports Consolidated Turnover for the First Quarter of 2024	CI
03-13	Sogeclair SA Reports Earnings Results for the Full Year Ended December 31, 2023	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	86.5	62.66	73.47	60.91	55.92	58.82	-	-
Enterprise Value (EV) ¹	110.3	81.15	87.78	77.21	55.92	67.17	61.17	56.92
P/E ratio	17.4 x	-4.38 x	27.9 x	30.6 x	-	9.41 x	8.28 x	7.39 x
Yield	3.07%	4.25%	3.75%	4.52%	5.12%	4.77%	4.77%	4.77%
Capitalization / Revenue	0.47 x	0.51 x	0.61 x	0.45 x	0.38 x	0.37 x	0.35 x	0.33 x
EV / Revenue	0.6 x	0.66 x	0.73 x	0.57 x	0.38 x	0.42 x	0.36 x	0.32 x
EV / EBITDA	6.53 x	12.5 x	8.36 x	6.13 x	3.35 x	3.69 x	3.06 x	2.64 x
EV / FCF	22.1 x	3.7 x	-36.6 x	-36.1 x	-	6.75 x	6.44 x	5.42 x
FCF Yield	4.53%	27%	-2.74%	-2.77%	-	14.8%	15.5%	18.4%
Price to Book	1.44 x	-	-	-	-	1.18 x	1.08 x	0.98 x
Nbr of stocks (in thousands)	2,952	2,956	3,061	3,061	3,048	3,048	-	-
Reference price ²	29.30	21.20	24.00	19.90	18.35	19.30	19.30	19.30
Announcement Date	18/03/20	17/03/21	16/03/22	15/03/23	13/03/24	-	-	-

¹EUR in Million²EUR

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	185	123.1	121	134.9	148	158.4	169.7	180.6
EBITDA ¹	16.9	6.5	10.5	12.6	16.7	18.2	20	21.55
EBIT ¹	8.8	-13.3	4.1	4.7	6.9	9.05	10.55	11.85
Operating Margin	4.76%	-10.8%	3.39%	3.48%	4.66%	5.72%	6.22%	6.56%
Earnings before Tax (EBT)	7.799	-	-	-	-	-	-	-
Net income ¹	5	-14.3	2.6	2	3.1	6.3	7.1	8
Net margin	2.7%	-11.62%	2.15%	1.48%	2.09%	3.98%	4.18%	4.43%
EPS ²	1.680	-4.840	0.8600	0.6500	-	2.050	2.330	2.610
Free Cash Flow ¹	4.999	21.92	-2.401	-2.137	-	9.95	9.5	10.5
FCF margin	2.7%	17.81%	-1.98%	-1.58%	-	6.28%	5.6%	5.81%
FCF Conversion (EBITDA)	29.58%	337.31%	-	-	-	54.67%	47.5%	48.72%
FCF Conversion (Net income)	99.98%	-	-	-	-	157.94%	133.8%	131.25%
Dividend per Share ²	0.9000	0.9000	0.9000	0.9000	0.9400	0.9200	0.9200	0.9200
Announcement Date	18/03/20	17/03/21	16/03/22	15/03/23	13/03/24	-	-	-

¹EUR in Million²EUR

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	23.8	18.5	14.3	16.3	-	8.35	2.35	-
Net Cash position ¹	-	-	-	-	-	-	-	1.9
Leverage (Debt/EBITDA)	1.408 x	2.844 x	1.363 x	1.294 x	-	0.4588 x	0.1175 x	-
Free Cash Flow ¹	5	21.9	-2.4	-2.14	-	9.95	9.5	10.5
ROE (net income / shareholders' equity)	8.87%	-28.1%	5.87%	4.08%	5.04%	9.4%	10.6%	11.2%
ROA (Net income/ Total Assets)	-	-	-	-	-	-	-	-
Assets ¹	-	-	-	-	-	-	-	-
Book Value Per Share ²	20.40	-	-	-	-	16.40	17.90	19.80
Cash Flow per Share ²	5.590	0.3400	2.160	3.910	-	5.290	5.790	6.260
Capex ¹	3.64	3.92	-	-	-	6.3	6.8	7.2
Capex / Sales	1.97%	3.18%	-	-	-	3.98%	4.01%	3.99%
Announcement Date	18/03/20	17/03/21	16/03/22	15/03/23	13/03/24	-	-	-

¹EUR in Million²EUR

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

19.3 EUR

Average target price

30.2 EUR

Spread / Average Target

+56.48%

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