Financials Vittia S.A.

Equities

VITT3

BRVITTACNOR4

Agricultural Chemicals

Delayed Sao Paulo Other stock markets 15:04:02 15/05/2024 BST			5-day change	1st Jan Change
5.3 ^BRL	+1.92%		-5.69%	-45.31%

03-15	Transcript : Vittia S.A., Q4 2023 Earnings Call, Mar 15, 2024
03-14	Vittia S.A. Reports Earnings Results for the Full Year Ended December 31, 2023	CI

Valuation

Fiscal Period: December	2021	2022	2023	2024	2025	2026
Capitalization ¹	2,063	1,850	1,517	799.8	-	-
Enterprise Value (EV) ¹	2,063	1,989	1,517	932.8	891.8	875.8
P/E ratio	-	12.6 x	15.7 x	4.4 x	4.57 x	3.87 x
Yield	0.68%	1.81%	-	3.57%	5.87%	10.6%
Capitalization / Revenue	2.4 x	2.17 x	2.01 x	0.87 x	0.73 x	0.65 x
EV / Revenue	2.4 x	2.34 x	2.01 x	1.01 x	0.81 x	0.71 x
EV / EBITDA	11.7 x	9.13 x	10.7 x	5.7 x	3.44 x	2.91 x
EV / FCF	-	33,913,358 x	-	-	-	-
FCF Yield	-	0%	-	-	-	-
Price to Book	-	-	-	-	-	-
Nbr of stocks (in thousands)	157,354	156,529	156,573	153,808	-	-
Reference price ²	13.11	11.82	9.691	5.200	5.200	5.200
Announcement Date	16/03/22	16/03/23	14/03/24	-	-	-

¹BRL in Million²BRL

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2021	2022	2023	2024	2025	2026
Net sales ¹	858	851.2	756.1	919.9	1,095	1,231
EBITDA ¹	176.1	217.9	141.7	163.8	259.6	300.8
EBIT ¹	142.8	181.3	98.98	132.3	167.3	197.2
Operating Margin	16.65%	21.3%	13.09%	14.38%	15.27%	16.01%
Earnings before Tax (EBT) ¹	-	-	-	118	157.7	189.5
Net income ¹	-	147.5	97.36	180	170.9	201.8
Net margin	-	17.33%	12.88%	19.57%	15.61%	16.39%
EPS ²	-	0.9364	0.6182	1.182	1.138	1.344
Free Cash Flow	-	58.66	-	-	-	-
FCF margin	-	6.89%	-	-	-	-
FCF Conversion (EBITDA)	-	26.92%	-	-	-	-
FCF Conversion (Net income)	-	39.78%	-	-	-	-
Dividend per Share ²	0.0891	0.2136	-	0.1854	0.3051	0.5532
Announcement Date	16/03/22	16/03/23	14/03/24	-	-	-

¹BRL in Million²BRL

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4
Net sales ¹	148.6	72.78	291.4	243.3	129.4	86.73	366.6	333.7
EBITDA ¹	25.36	-18.56	90.13	49.94	11.35	-14.17	94.06	74.19
EBIT ¹	-	-	-	33.24	2.967	-20.47	84.67	65.09
Operating Margin	-	-	-	13.66%	2.29%	-23.6%	23.09%	19.51%
Earnings before Tax (EBT) ¹	-	-	-	-	1.619	-24.18	82.45	58.1
Net income ¹	-	-	-	-	1.258	-18.09	61.88	43.62
Net margin	-	-	-	-	0.97%	-20.86%	16.88%	13.07%
EPS ²	-	-	-	-	0.008850	-0.1272	0.4351	0.3067
Dividend per Share ²	-	-	-	-	-	-	0.1088	0.0767
Announcement Date	11/05/23	10/08/23	10/11/23	14/03/24	-	-	-	-

¹BRL in Million²BRL

Estimates

Balance Sheet Analysis

Fiscal Period: December	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	140	-	133	92	76
Net Cash position ¹	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	0.6407 x	-	0.812 x	0.3544 x	0.2527 x
Free Cash Flow	-	58.7	-	-	-	-
ROE (net income / shareholders' equity)	27.9%	27.9%	-	13.6%	21.1%	21.9%
ROA (Net income/ Total Assets)	-	16.3%	-	17%	18%	19%
Assets ¹	-	902.1	-	1,059	949.6	1,062
Book Value Per Share	-	-	-	-	-	-
Cash Flow per Share	-	-	-	-	-	-
Capex	-	61.3	-	-	-	-
Capex / Sales	-	7.2%	-	-	-	-
Announcement Date	16/03/22	16/03/23	14/03/24	-	-	-

¹BRL in Million

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Vittia S.A.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

5.2 BRL

Average target price

13.25 BRL

Spread / Average Target

+154.81%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Other Agricultural Chemicals

	1st Jan change	Capi.
VITTIA S.A.	-45.31%	156M
CORTEVA, INC.	+19.87%	40.11B
PHOSAGRO	-.--%	11.24B
FMC CORPORATION	+3.87%	8.27B
PI INDUSTRIES LIMITED	+4.24%	6.67B
ICL GROUP LTD	-3.19%	6.14B
OCI N.V.	-1.37%	5.84B
YUNNAN YUNTIANHUA CO., LTD.	+37.05%	5.42B
THE FERTILISERS AND CHEMICALS TRAVANCORE LIMITED	-13.81%	5.12B
UPL LIMITED	-12.43%	4.59B

Other Agricultural Chemicals