Financials Dutch Lady Milk Industries

Equities

End-of-day quote BURSA MALAYSIA Other stock markets 06:00:00 2024-06-13 pm EDT			5-day change	1st Jan Change
37.8 ^MYR	+1.07%		+0.05%	+63.21%

May. 27	Dutch Lady Milk Industries Berhad Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
May. 27	Dutch Lady Milk Industries Berhad Announces First Single-Tier Interim Dividend for the Financial Year Ending 31 December 2024, Payable on June 20, 2024	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	3,142	2,400	2,145	1,935	1,482	2,419	-	-
Enterprise Value (EV) ¹	3,142	2,400	2,145	1,830	1,482	2,419	2,419	2,419
P/E ratio	-	32.7 x	8.65 x	41.8 x	20.5 x	23 x	21.8 x	-
Yield	2.04%	2.13%	1.49%	1.65%	2.16%	1.89%	1.97%	2.8%
Capitalization / Revenue	2.95 x	2.18 x	1.89 x	1.44 x	1.03 x	1.63 x	1.59 x	1.54 x
EV / Revenue	2.95 x	2.18 x	1.89 x	1.44 x	1.03 x	1.63 x	1.59 x	1.54 x
EV / EBITDA	-	-	6.63 x	14.5 x	7.74 x	11.7 x	10.7 x	10.1 x
EV / FCF	-	-	-	56,840,433 x	-	-	-	-
FCF Yield	-	-	-	0%	-	-	-	-
Price to Book	21.7 x	14.4 x	5.61 x	4.88 x	3.39 x	4.97 x	4.55 x	-
Nbr of stocks (in thousands)	63,994	64,000	64,000	64,000	64,000	64,000	-	-
Reference price ²	49.10	37.50	33.52	30.24	23.16	37.80	37.80	37.80
Announcement Date	2/25/20	2/25/21	2/23/22	2/24/23	2/20/24	-	-	-

¹MYR in Million²MYR

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	1,067	1,101	1,134	1,339	1,443	1,485	1,522	1,569
EBITDA ¹	-	-	323.5	133.8	191.4	206.7	225.6	239.2
EBIT ¹	140.8	100	286.5	51.86	100	140.4	150.4	201.8
Operating Margin	13.2%	9.09%	25.27%	3.87%	6.93%	9.45%	9.89%	12.86%
Earnings before Tax (EBT) ¹	137.6	97.51	284.5	54.56	96.49	137.1	147.1	197.9
Net income ¹	103	73.36	248	46.27	72.39	105.5	111.2	150.4
Net margin	9.65%	6.67%	21.87%	3.45%	5.02%	7.1%	7.31%	9.59%
EPS ²	-	1.146	3.875	0.7230	1.131	1.646	1.737	-
Free Cash Flow	-	-	-	34.05	-	-	-	-
FCF margin	-	-	-	2.54%	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	25.46%	-	-	-	-
FCF Conversion (Net income)	-	-	-	73.59%	-	-	-	-
Dividend per Share ²	1.000	0.8000	0.5000	0.5000	0.5000	0.7150	0.7450	1.060
Announcement Date	2/25/20	2/25/21	2/23/22	2/24/23	2/20/24	-	-	-

¹MYR in Million²MYR

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	-	-	-	105	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow	-	-	-	34	-	-	-	-
ROE (net income / shareholders' equity)	-	47.2%	90.3%	11.9%	-	22.8%	27.5%	26.4%
ROA (Net income/ Total Assets)	-	-	-	-	-	-	-	-
Assets ¹	-	-	-	-	-	-	-	-
Book Value Per Share ²	2.260	2.600	5.980	6.200	6.830	7.600	8.300	-
Cash Flow per Share	-	-	-	-	-	-	-	-
Capex	-	-	-	-	-	-	-	-
Capex / Sales	-	-	-	-	-	-	-	-
Announcement Date	2/25/20	2/25/21	2/23/22	2/24/23	2/20/24	-	-	-

¹MYR in Million²MYR

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

UNDERPERFORM

Number of Analysts

Last Close Price

37.8 MYR

Average target price

30.82 MYR

Spread / Average Target

-18.45%

	1st Jan change	Capi.
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