Financials Rainbow Tours S.A.

Equities

RBW

PLRNBWT00031

Leisure & Recreation

Market Closed - Warsaw S.E. Other stock markets 11:55:56 2024-05-17 am EDT			5-day change	1st Jan Change
112.2 ^PLN	-4.27%		+18.23%	+83.93%

May. 15	Rainbow Tours Provides Consolidated Earnings Guidance for the First Quarter of 2024	CI
Apr. 19	Rainbow Tours S.A. Reports Earnings Results for the Full Year Ended December 31, 2023	CI

Valuation

Fiscal Period: December	2019	2021	2022	2024	2025	2026
Capitalization ¹	513.7	349.2	275.9	1,705	-	-
Enterprise Value (EV) ¹	567.1	349.2	275.7	1,890	1,329	1,232
P/E ratio	-	-	-	-	-	-
Yield	-	-	7.91%	2.38%	4.7%	5.01%
Capitalization / Revenue	0.29 x	0.27 x	0.12 x	0.42 x	0.36 x	0.32 x
EV / Revenue	0.32 x	0.27 x	0.12 x	0.46 x	0.28 x	0.23 x
EV / EBITDA	10.1 x	-	5.07 x	7.33 x	4.92 x	4.29 x
EV / FCF	7.78 x	-	-	24.1 x	9.41 x	8.43 x
FCF Yield	12.9%	-	-	4.15%	10.6%	11.9%
Price to Book	-	-	-	-	-	-
Nbr of stocks (in thousands)	14,552	14,552	14,552	14,552	-	-
Reference price ²	35.30	24.00	18.96	117.2	117.2	117.2
Announcement Date	6/30/20	4/6/22	4/28/23	-	-	-

¹PLN in Million²PLN

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2021	2022	2024	2025	2026
Net sales ¹	1,746	1,279	2,393	4,066	4,681	5,395
EBITDA ¹	56.09	-	54.42	257.9	270.4	286.9
EBIT ¹	38.81	-	32.83	235.8	248.1	264.4
Operating Margin	2.22%	-	1.37%	5.8%	5.3%	4.9%
Earnings before Tax (EBT)	35.51	-	-	-	-	-
Net income	28.6	18.72	-	-	-	-
Net margin	1.64%	1.46%	-	-	-	-
EPS	-	-	-	-	-	-
Free Cash Flow ¹	72.9	-	-	78.48	141.3	146.2
FCF margin	4.18%	-	-	1.93%	3.02%	2.71%
FCF Conversion (EBITDA)	129.99%	-	-	30.43%	52.26%	50.96%
FCF Conversion (Net income)	254.96%	-	-	-	-	-
Dividend per Share ²	-	-	1.500	2.790	5.510	5.870
Announcement Date	6/30/20	4/6/22	4/28/23	-	-	-

¹PLN in Million²PLN

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2024 Q1
Net sales ¹	315.8	504.7	-	459.8	556	709.1	1,434	731.7
EBITDA ¹	-1.291	1.441	-	-15.68	30.58	49.62	146.4	45.77
EBIT ¹	-	-5.225	-	-17.28	24.27	43.24	142.6	39.25
Operating Margin	-	-1.04%	-	-3.76%	4.36%	6.1%	9.94%	5.36%
Earnings before Tax (EBT)	-	-	63.29	-	-	-	-	-
Net income	-	-	49.5	-	-	-	-	-
Net margin	-	-	-	-	-	-	-	-
EPS	-	-	-	-	-	-	-	-
Dividend per Share	-	-	-	-	-	-	-	-
Announcement Date	5/27/22	9/30/22	11/18/22	4/28/23	5/26/23	9/29/23	11/17/23	-

¹PLN in Million

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2021	2022	2024	2025	2026
Net Debt ¹	53.4	-	-	185	-	-
Net Cash position ¹	-	-	0.23	-	376	473
Leverage (Debt/EBITDA)	0.9528 x	-	-	0.717 x	-	-
Free Cash Flow ¹	72.9	-	-	78.5	141	146
ROE (net income / shareholders' equity)	24.4%	-	19.5%	74.3%	51.9%	40.1%
ROA (Net income/ Total Assets)	-	-	-	17.6%	15.7%	14.6%
Assets	-	-	-	-	-	-
Book Value Per Share	-	-	-	-	-	-
Cash Flow per Share	-	-	-	-	-	-
Capex ¹	42.1	-	-	23.1	23.1	23.5
Capex / Sales	2.41%	-	-	0.57%	0.49%	0.44%
Announcement Date	6/30/20	4/6/22	4/28/23	-	-	-

¹PLN 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 Rainbow Tours S.A.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

117.2 PLN

Average target price

93.4 PLN

Spread / Average Target

-20.31%

Consensus

Quarterly revenue - Rate of surprise

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