Financials ADAMA Ltd.

Equities

000553

CNE0000004V0

Agricultural Chemicals

End-of-day quote Shenzhen S.E. Other stock markets 06:00:00 2024-04-25 pm EDT			5-day change	1st Jan Change
6.02 ^CNY	+1.18%		-0.33%	-13.26%

Apr. 25	ADAMA Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
Apr. 22	ADAMA Launches New Cereal Fungicide Avastel for Superior Disease Control and Long-lasting Protection	CI

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	23,527	17,562	18,846	20,233	15,429	13,394	-	-
Enterprise Value (EV) ¹	23,527	17,562	19,197	25,210	21,465	16,090	16,023	16,522
P/E ratio	88.3 x	53.2 x	125 x	34.6 x	-10.1 x	93.1 x	30.4 x	20.9 x
Yield	0.12%	0.2%	0.09%	0.3%	-	0.17%	0.62%	0.5%
Capitalization / Revenue	0.85 x	0.62 x	0.61 x	0.54 x	0.47 x	0.43 x	0.41 x	0.36 x
EV / Revenue	0.85 x	0.62 x	0.62 x	0.67 x	0.65 x	0.52 x	0.49 x	0.44 x
EV / EBITDA	5.21 x	4.06 x	4.44 x	5.1 x	7.55 x	5.36 x	4.72 x	5.1 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	1.09 x	0.85 x	0.93 x	0.85 x	0.69 x	0.64 x	0.63 x	0.61 x
Nbr of stocks (in thousands)	2,446,554	2,337,866	2,329,812	2,329,812	2,329,812	2,329,812	-	-
Reference price ²	10.00	7.820	8.440	9.050	6.940	6.020	6.020	6.020
Announcement Date	3/30/20	3/30/21	3/30/22	3/20/23	3/26/24	-	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	27,563	28,445	31,039	37,382	32,779	31,023	32,893	37,189
EBITDA ¹	4,515	4,329	4,328	4,940	2,844	3,000	3,391	3,241
EBIT ¹	2,179	538	1,876	2,575	411	260	632	-
Operating Margin	7.91%	1.89%	6.04%	6.89%	1.25%	0.84%	1.92%	-
Earnings before Tax (EBT) ¹	452	1,551	544.3	421.6	-1,405	200.8	613.5	880.2
Net income ¹	277	352.8	157	609	-1,606	146.2	461	662.8
Net margin	1%	1.24%	0.51%	1.63%	-4.9%	0.47%	1.4%	1.78%
EPS ²	0.1132	0.1469	0.0676	0.2616	-0.6893	0.0647	0.1977	0.2877
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	0.0120	0.0160	0.008000	0.0270	-	0.0100	0.0372	0.0300
Announcement Date	3/30/20	3/30/21	3/30/22	3/20/23	3/26/24	-	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q3	2022 Q1
Net sales	-	-
EBITDA	-	-
EBIT	-	-
Operating Margin	-	-
Earnings before Tax (EBT)	-	-
Net income ¹	-371	427.7
Net margin	-	-
EPS ²	-0.1592	0.1840
Dividend per Share	-	-
Announcement Date	10/27/21	4/27/22

¹CNY in Million²CNY

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	351	4,977	6,036	2,695	2,628	3,128
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	0.081 x	1.007 x	2.122 x	0.8985 x	0.775 x	0.9651 x
Free Cash Flow	-	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	6.43%	1.61%	0.74%	2.76%	-7.13%	0.69%	2.07%	2.89%
ROA (Net income/ Total Assets)	3.28%	0.77%	-	1.13%	-2.83%	0.2%	0.9%	1.2%
Assets ¹	8,443	46,057	-	54,107	56,745	73,112	51,223	55,231
Book Value Per Share ²	9.140	9.180	9.050	10.60	10.10	9.370	9.610	9.860
Cash Flow per Share ²	0.3500	0.8700	1.960	0.5900	1.120	2.070	1.190	0.8400
Capex ¹	1,760	1,947	2,589	2,667	2,370	2,046	2,063	2,123
Capex / Sales	6.39%	6.84%	8.34%	7.13%	7.23%	6.59%	6.27%	5.71%
Announcement Date	3/30/20	3/30/21	3/30/22	3/20/23	3/26/24	-	-	-

¹CNY in Million²CNY

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for ADAMA Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

B-

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

6.02 CNY

Average target price

6.6 CNY

Spread / Average Target

+9.63%

Consensus

EPS Revisions

Estimates Revisions

Annual profits - Rate of surprise

Company calendar

Sector Pesticide

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ZHEJIANG XINAN CHEMICAL INDUSTRIAL GROUP CO.,LTD	-5.70%	1.6B
NUFARM LIMITED	-2.11%	1.27B
SHENZHEN NOPOSION CROP SCIENCE CO., LTD.	-2.91%	1.1B
LIER CHEMICAL CO.,LTD.	-22.97%	1.02B
NANTONG JIANGSHAN AGROCHEMICAL & CHEMICALS CO.,LTD.	-8.05%	951M
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Pesticide