Financials Zambian Breweries Plc

Equities

ZAMBREW

ZM0000000078

Brewers

End-of-day quote Lusaka S.E. 06:00:00 2024-06-13 pm EDT 5-day change 1st Jan Change
7 ZMW 0.00% Intraday chart for Zambian Breweries Plc 0.00% 0.00%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 4,100 4,368 3,948 3,686 3,822 3,822
Enterprise Value (EV) 1 1,703 4,175 3,582 4,253 4,761 5,556
P/E ratio 2.82 x 18.3 x 665 x 28.6 x 44.2 x -7.14 x
Yield - 1.25% - - - -
Capitalization / Revenue 2.29 x 2.09 x 1.71 x 1.2 x 1.04 x 0.92 x
EV / Revenue 0.95 x 2 x 1.55 x 1.39 x 1.3 x 1.34 x
EV / EBITDA 2.65 x 6.81 x 5.55 x 5.95 x 4.58 x 11.9 x
EV / FCF 0.53 x -1.85 x 7 x -5.3 x -23.1 x -34.6 x
FCF Yield 188% -54.1% 14.3% -18.9% -4.34% -2.89%
Price to Book 5.36 x 4.2 x 3.98 x 3.24 x 3.09 x 5.44 x
Nbr of stocks (in thousands) 546,000 546,000 546,000 546,007 546,007 546,007
Reference price 2 7.510 8.000 7.230 6.750 7.000 7.000
Announcement Date 8/6/19 3/10/20 9/9/21 9/18/23 9/18/23 5/7/24
1ZMW in Million2ZMW
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 1,787 2,093 2,305 3,069 3,675 4,153
EBITDA 1 642.9 613 645.5 714.9 1,040 468.5
EBIT 1 471.1 400.3 440.9 437.9 668.8 25.86
Operating Margin 26.36% 19.13% 19.12% 14.27% 18.2% 0.62%
Earnings before Tax (EBT) 1 476.3 356.9 8.485 106.2 142.2 -795.4
Net income 1 1,456 239.1 5.939 128.9 86.48 -535.6
Net margin 81.47% 11.43% 0.26% 4.2% 2.35% -12.9%
EPS 2 2.667 0.4379 0.0109 0.2361 0.1584 -0.9810
Free Cash Flow 1 3,199 -2,259 511.6 -802.3 -206.4 -160.6
FCF margin 179% -107.97% 22.19% -26.14% -5.62% -3.87%
FCF Conversion (EBITDA) 497.61% - 79.25% - - -
FCF Conversion (Net income) 219.7% - 8,613.64% - - -
Dividend per Share - 0.1000 - - - -
Announcement Date 8/6/19 3/10/20 9/9/21 9/18/23 9/18/23 5/7/24
1ZMW in Million2ZMW
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 - - - 568 939 1,734
Net Cash position 1 2,398 193 366 - - -
Leverage (Debt/EBITDA) - - - 0.794 x 0.9035 x 3.701 x
Free Cash Flow 1 3,199 -2,259 512 -802 -206 -161
ROE (net income / shareholders' equity) 31% 30.4% 0.58% 13.9% 8.35% -55.2%
ROA (Net income/ Total Assets) 7.37% 6.26% 8.76% 8.04% 9.98% 0.3%
Assets 1 19,770 3,820 67.83 1,604 866.5 -178,593
Book Value Per Share 2 1.400 1.900 1.820 2.090 2.270 1.290
Cash Flow per Share 2 4.390 0.4100 0.7300 0.2400 0.6500 0.5500
Capex 1 295 576 297 641 1,009 1,945
Capex / Sales 16.52% 27.51% 12.9% 20.9% 27.47% 46.84%
Announcement Date 8/6/19 3/10/20 9/9/21 9/18/23 9/18/23 5/7/24
1ZMW in Million2ZMW
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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