Financials Creative & Innovative System Corporation

Equities

End-of-day quote Korea S.E. Other stock markets 06:00:00 2024-05-30 pm EDT			5-day change	1st Jan Change
10,980 ^KRW	+3.58%		+1.01%	-0.18%

Mar. 05	Creative & Innovative System Corporation completed the acquisition of 12.96% stake in CI Solid Co., Ltd. from Hanjun Kim and others.	CI
2023	Creative & Innovative System Corporation agreed to acquire remaining 12.96% stake in CI Solid Co., Ltd. from Hanjun Kim and others for KRW 6.03 billion.	CI

Fiscal Period: December	2021	2022	2023	2024
Capitalization ¹	884,700	556,621	772,834	784,421
Enterprise Value (EV) ¹	884,700	556,621	772,834	784,421
P/E ratio	-34.1 x	47.4 x	25.3 x	32.8 x
Yield	-	-	-	-
Capitalization / Revenue	-	3.49 x	2.49 x	2.89 x
EV / Revenue	-	3.49 x	2.49 x	2.89 x
EV / EBITDA	-	62,637,365,145 x	-	-
EV / FCF	-	14.2 x	-9.2 x	-78.4 x
FCF Yield	-	7.03%	-10.9%	-1.27%
Price to Book	-	4.05 x	2.57 x	2.88 x
Nbr of stocks (in thousands)	61,437	61,847	70,258	71,441
Reference price ²	14,400	9,000	11,000	10,980
Announcement Date	3/21/22	2/16/23	2/15/24	-

¹KRW in Million²KRW

Estimates

Fiscal Period: December	2021	2022	2023	2024
Net sales ¹	-	159.4	310.2	271.7
EBITDA	-	8.886	-	-
EBIT ¹	-	7.865	38.94	30.4
Operating Margin	-	4.93%	12.56%	11.19%
Earnings before Tax (EBT) ¹	-	17.57	36.03	28
Net income ¹	-24.58	13.51	28.92	23.5
Net margin	-	8.48%	9.32%	8.65%
EPS ²	-422.0	190.0	434.0	335.0
Free Cash Flow ³	-	39,128	-84,035	-10,000
FCF margin	-	24,552.71%	-27,093.64%	-3,680.53%
FCF Conversion (EBITDA)	-	440,310.35%	-	-
FCF Conversion (Net income)	-	289,594.1%	-	-
Dividend per Share	-	-	-	-
Announcement Date	3/21/22	2/16/23	2/15/24	-

¹KRW in Billions²KRW³KRW in Million

Estimates

Fiscal Period: December	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q2	2023 Q3	2023 Q4
Net sales ¹	-	32.83	23.37	79.93	27.05	35.9	221.4
EBITDA	-	-	-	-	-	-	-
EBIT ¹	-	7.382	-1.638	0.5331	4.51	6.529	30.27
Operating Margin	-	22.48%	-7.01%	0.67%	16.67%	18.19%	13.67%
Earnings before Tax (EBT) ¹	-	11.72	0.8016	1.818	-1.597	11.59	28.1
Net income ¹	1.21	8.687	0.3886	1.398	-1.708	9.121	23.44
Net margin	-	26.46%	1.66%	1.75%	-6.31%	25.41%	10.59%
EPS	20.00	-	-	-	-	-	-
Dividend per Share	-	-	-	-	-	-	-
Announcement Date	5/13/22	8/12/22	11/11/22	2/16/23	8/14/23	11/7/23	2/15/24

¹KRW in Billions

Estimates

Fiscal Period: December	2021	2022	2023	2024
Net Debt	-	-	-	-
Net Cash position	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-
Free Cash Flow ¹	-	39,128	-84,035	-10,000
ROE (net income / shareholders' equity)	-	10.5%	14.4%	9.2%
ROA (Net income/ Total Assets)	-	3.06%	5.56%	3.7%
Assets ²	-	441.3	520.5	635.1
Book Value Per Share ³	-	2,221	4,285	3,815
Cash Flow per Share ³	-	-	-1,075	475.0
Capex	-	16.1	-	-
Capex / Sales	-	10.09%	-	-
Announcement Date	3/21/22	2/16/23	2/15/24	-

¹KRW in Million²KRW in Billions³KRW

Estimates

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

10,980 KRW

Average target price

15,300 KRW

Spread / Average Target

+39.34%

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