| Income Statement Evolution | |
|
|
|
| Annual Income Statement Data |
|
|
Actuals in M CNY |
Estimates in M CNY |
|
Fiscal Period December
|
2016 |
2017 |
2018 |
2019 (e) |
2020 (e) |
2021 (e) |
| Sales |
33 132 |
50 927 |
57 224 |
64 346 |
60 872 |
62 725 |
| EBITDA |
8 506 |
22 114 |
23 849 |
24 257 |
22 067 |
22 788 |
| Operating profit (EBIT) |
5 120 |
18 233 |
19 061 |
19 250 |
17 801 |
18 863 |
| Pre-Tax Profit (EBT) |
5 125 |
18 216 |
18 748 |
19 679 |
18 385 |
19 353 |
| Net income |
2 755 |
10 449 |
10 993 |
10 939 |
11 090 |
11 564 |
| P/E ratio |
17,3x |
7,85x |
6,76x |
7,60x |
7,94x |
7,57x |
| EPS ( CNY ) |
0,28 |
1,04 |
1,10 |
1,14 |
1,09 |
1,14 |
| Dividend per Share ( CNY ) |
0,11 |
0,42 |
0,33 |
0,42 |
0,34 |
0,38 |
| Yield |
2,27% |
5,12% |
4,44% |
4,85% |
3,92% |
4,38% |
| Reference price ( CNY ) |
4,850 |
8,160 |
7,440 |
8,640 |
8,640 |
8,640 |
| Announcement Date |
04/28/2017
01:16am |
03/29/2018
01:21pm |
01/24/2019
12:00am |
- |
- |
- |
|
|
|
|
Actuals in M CNY |
Estimates in M CNY |
|
Fiscal Period December
|
2016 |
2017 |
2018 |
2019 (e) |
2020 (e) |
2021 (e) |
| Debt |
14 022 |
9 050 |
4 400 |
- |
- |
- |
| Finance |
- |
- |
- |
13 866 |
26 339 |
40 378 |
| Operating income (EBITDA) |
8 506 |
22 114 |
23 849 |
24 257 |
22 067 |
22 788 |
Leverage
(Debt/EBITDA) |
1,65x |
0,41x |
0,18x |
- |
- |
- |
| Capital Expenditure |
2 008 |
5 008 |
4 410 |
3 695 |
4 535 |
1 000 |
| Free Cash Flow (FCF) |
- |
11 923 |
15 348 |
16 510 |
18 301 |
19 177 |
| Book Value Per Share (BVPS) ( CNY ) |
3,44 |
4,42 |
5,07 |
5,89 |
6,53 |
7,29 |
| Cash Flow per Share ( CNY ) |
0,83 |
1,69 |
1,98 |
2,10 |
1,80 |
2,52 |
| Announcement Date |
04/28/2017
01:16am |
03/29/2018
01:21pm |
01/24/2019
12:00am |
- |
- |
- |
|
|
|
|
|
Assessed data source
© 2019 S&P Global Market Intelligence
|
|
| Valuation |
2019e |
2020e |
| P/E ratio (Price / EPS) |
7,60x |
7,94x |
| Capitalization / Revenue |
1,30x |
1,38x |
| EV / Revenue |
1,09x |
1,15x |
| EV / EBITDA |
2,88x |
3,17x |
| Yield (DPS / Price) |
4,85% |
3,92% |
| Price to book (Price / BVPS) |
1,47x |
1,32x |
| Profitability |
2019e |
2020e |
| Operating Margin (EBIT / Sales) |
29,9% |
29,2% |
| Operating Leverage (Delta EBIT / Delta Sales) |
0,08x |
-1,39x |
| Net Margin (Net Profit / Revenue) |
17,0% |
18,2% |
| ROA (Net Profit / Asset) |
8,90% |
7,97% |
| ROE (Net Profit / Equities) |
21,0% |
16,5% |
| Rate of Dividend |
36,8% |
31,2% |
|
Year-on-year evolution of the PER
|
United Kingdom
Canada
France
Deutschland
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