Financials Allianz Malaysia

Equities

End-of-day quote BURSA MALAYSIA Other stock markets 06:00:00 2024-05-23 pm EDT			5-day change	1st Jan Change
22.92 ^MYR	-0.43%		-1.97%	+24.30%

May. 24	Allianz Malaysia's Profit, Revenue Rise in Q1	MT
May. 23	Allianz Malaysia Berhad Reports Earnings Results for the First Quarter Ended March 31, 2024	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	2,880	2,614	2,283	2,520	3,282	4,079	-	-
Enterprise Value (EV) ¹	2,880	2,614	2,283	2,520	3,282	4,079	4,079	4,079
P/E ratio	11.4 x	9.83 x	9.3 x	10.4 x	8.73 x	8.47 x	8.04 x	7.61 x
Yield	3.13%	3.92%	4.9%	6%	5.45%	5.13%	5.39%	5.64%
Capitalization / Revenue	0.64 x	0.54 x	0.44 x	0.45 x	0.66 x	0.79 x	0.75 x	0.69 x
EV / Revenue	0.64 x	0.54 x	0.44 x	0.45 x	0.66 x	0.79 x	0.75 x	0.69 x
EV / EBITDA	-	-	-	-	-	-	-	-
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	1.53 x	0.65 x	0.55 x	0.6 x	0.64 x	0.97 x	0.9 x	0.83 x
Nbr of stocks (in thousands)	176,888	176,889	177,509	177,969	177,969	177,969	-	-
Reference price ²	16.28	14.78	12.86	14.16	18.44	22.92	22.92	22.92
Announcement Date	2/27/20	2/24/21	2/22/22	2/23/23	2/26/24	-	-	-

¹MYR in Million²MYR

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	4,502	4,871	5,241	5,566	4,942	5,134	5,449	5,911
EBITDA	-	-	-	-	-	-	-	-
EBIT	-	731.4	626.6	705.2	-	-	-	-
Operating Margin	-	15.02%	11.96%	12.67%	-	-	-	-
Earnings before Tax (EBT) ¹	692.1	729.6	625.6	704.4	956.9	1,030	1,083	1,129
Net income ¹	492.5	520.3	478.5	472.8	730.9	761.9	800.5	839.5
Net margin	10.94%	10.68%	9.13%	8.5%	14.79%	14.84%	14.69%	14.2%
EPS ²	1.423	1.503	1.383	1.366	2.111	2.705	2.852	3.012
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	0.5100	0.5800	0.6300	0.8500	1.005	1.175	1.235	1.293
Announcement Date	2/27/20	2/24/21	2/22/22	2/23/23	2/26/24	-	-	-

¹MYR in Million²MYR

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	14%	13.5%	11.7%	11.3%	14.9%	14.5%	14.2%	13.9%
ROA (Net income/ Total Assets)	2.65%	2.5%	2.1%	1.96%	2.93%	2.88%	2.83%	2.78%
Assets ¹	18,557	20,813	22,775	24,163	24,956	26,499	28,336	30,251
Book Value Per Share ²	10.60	22.80	23.40	23.80	28.90	23.70	25.50	27.50
Cash Flow per Share	-	-0.3900	-	-	-	-	-	-
Capex ¹	-	16	20.1	21.1	32.2	19	19.7	20.4
Capex / Sales	-	0.33%	0.38%	0.38%	0.65%	0.37%	0.36%	0.35%
Announcement Date	2/27/20	2/24/21	2/22/22	2/23/23	2/26/24	-	-	-

¹MYR in Million²MYR

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

B-

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

22.92 MYR

Average target price

23.86 MYR

Spread / Average Target

+4.11%

	1st Jan change	Capi.
ALLIANZ MALAYSIA	+24.30%	871M
ALLIANZ SE	+9.49%	111B
CHUBB LIMITED	+17.15%	110B
MARSH & MCLENNAN COMPANIES	+9.72%	103B
ZURICH INSURANCE GROUP LTD	+6.92%	74.28B
HARTFORD FINANCIAL SERVICES GROUP (THE), INC.	+26.00%	29.77B
TALANX AG	+12.76%	20.4B
BB SEGURIDADE PARTICIPAÇÕES S.A.	-2.85%	12.74B
POWSZECHNY ZAKLAD UBEZPIECZE? SPÓLKA AKCYJNA	+7.26%	11.18B
ASR NEDERLAND N.V.	+11.94%	10.94B