Financials Gia Lai Electricity

Equities

GEG

VN000000GEG0

Independent Power Producers

End-of-day quote Ho Chi Minh S.E. 06:00:00 2024-06-05 pm EDT 5-day change 1st Jan Change
13,900 VND -1.77% Intraday chart for Gia Lai Electricity -0.36% +8.17%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024
Capitalization 1 5,505,075 5,369,269 7,122,129 5,150,990 4,385,055 4,743,367
Enterprise Value (EV) 1 5,505,075 5,369,269 7,122,129 5,150,990 4,385,055 4,743,367
P/E ratio - - 25.3 x 17.2 x - -
Yield - - 1.54% - - -
Capitalization / Revenue 4.75 x 3.59 x 5.16 x 2.46 x 2.03 x 1.98 x
EV / Revenue 4.75 x 3.59 x 5.16 x 2.46 x 2.03 x 1.98 x
EV / EBITDA - 8,205,346 x 6,667,917 x 3,428,536 x - -
EV / FCF - - -2,210,281 x -1,265,117 x - -
FCF Yield - - -0% -0% - -
Price to Book 2.37 x 1.75 x 1.91 x 1.2 x 1.01 x -
Nbr of stocks (in thousands) 257,317 316,880 341,255 341,253 341,249 341,249
Reference price 2 21,394 16,944 20,870 15,094 12,850 13,900
Announcement Date 1/30/20 2/1/21 1/28/22 1/30/23 1/30/24 -
1VND in Million2VND
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024
Net sales 1 1,158,297 1,494,523 1,381,119 2,093,233 2,163,456 2,401,000
EBITDA - 654,362 1,068,119 1,502,388 - -
EBIT 1 308,865 304,339 651,243 850,679 961,463 1,139,000
Operating Margin 26.67% 20.36% 47.15% 40.64% 44.44% 47.44%
Earnings before Tax (EBT) 1 - - 368,716 406,766 195,014 511,000
Net income 1 - - 282,832 315,693 137,244 405,000
Net margin - - 20.48% 15.08% 6.34% 16.87%
EPS - - 825.0 876.4 - -
Free Cash Flow - - -3,222,273 -4,071,553 - -
FCF margin - - -233.31% -194.51% - -
FCF Conversion (EBITDA) - - - - - -
FCF Conversion (Net income) - - - - - -
Dividend per Share - - 321.5 - - -
Announcement Date 1/30/20 2/1/21 1/28/22 1/30/23 1/30/24 -
1VND in Million
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2022 S1 2022 Q3
Net sales - -
EBITDA - -
EBIT - -
Operating Margin - -
Earnings before Tax (EBT) - -
Net income 1 171,585 125,506
Net margin - -
EPS 2 507.5 359.4
Dividend per Share - -
Announcement Date 8/1/22 10/27/22
1VND in Million2VND
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024
Net Debt - - - - - -
Net Cash position - - - - - -
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow - - -3,222,273 -4,071,553 - -
ROE (net income / shareholders' equity) 11.3% 9.59% 8.79% 8.25% 3.18% 7.39%
ROA (Net income/ Total Assets) 4.56% 3.56% 2.79% 2.13% 0.83% 2.77%
Assets 1 - - 10,122,818 14,795,586 16,625,521 14,620,939
Book Value Per Share 9,030 9,683 10,953 12,535 12,747 -
Cash Flow per Share - - - - - -
Capex - 761,941 3,916,316 3,880,179 - -
Capex / Sales - 50.98% 283.56% 185.37% - -
Announcement Date 1/30/20 2/1/21 1/28/22 1/30/23 1/30/24 -
1VND in Million
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
2
Last Close Price
13,900 VND
Average target price
17,050 VND
Spread / Average Target
+22.66%
Consensus

Annual profits - Rate of surprise

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