Financials Airtel Networks Zambia Plc

Equities

ATEL

ZM0000000342

Wireless Telecommunications Services

End-of-day quote Lusaka S.E. 06:00:00 2024-05-02 pm EDT 5-day change 1st Jan Change
43.5 ZMW 0.00% Intraday chart for Airtel Networks Zambia Plc 0.00% 0.00%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 3,640 3,274 3,067 1,872 1,794 4,524
Enterprise Value (EV) 1 5,199 5,266 5,553 3,674 4,389 7,972
P/E ratio 56.1 x 208 x -9.01 x 2.7 x 1.95 x 3.97 x
Yield - - - 13.3% 49.3% -
Capitalization / Revenue 1.86 x 1.52 x 1.18 x 0.52 x 0.4 x 0.8 x
EV / Revenue 2.66 x 2.44 x 2.14 x 1.03 x 0.99 x 1.41 x
EV / EBITDA 6.16 x 5.65 x 5.5 x 2.25 x 1.96 x 2.76 x
EV / FCF 24.5 x 36 x 12.7 x 7.23 x -79.1 x 13.5 x
FCF Yield 4.09% 2.78% 7.85% 13.8% -1.26% 7.41%
Price to Book -309 x -83.3 x -8.07 x 5.97 x 2.66 x 10.3 x
Nbr of stocks (in thousands) 104,000 104,000 104,000 104,000 104,000 104,000
Reference price 2 35.00 31.48 29.49 18.00 17.25 43.50
Announcement Date 2/10/20 2/10/20 2/25/21 4/9/22 8/21/23 2/28/24
1ZMW in Million2ZMW
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 1,958 2,154 2,598 3,580 4,450 5,640
EBITDA 1 844.6 932.8 1,009 1,629 2,235 2,893
EBIT 1 579.6 661.9 719.4 1,254 1,793 2,275
Operating Margin 29.6% 30.72% 27.69% 35.01% 40.28% 40.34%
Earnings before Tax (EBT) 1 230.5 216.8 -262.2 1,103 1,460 1,770
Net income 1 64.86 15.74 -340.6 693.3 921.5 1,139
Net margin 3.31% 0.73% -13.11% 19.36% 20.71% 20.2%
EPS 2 0.6236 0.1514 -3.275 6.666 8.860 10.95
Free Cash Flow 1 212.5 146.3 436.1 508 -55.51 590.7
FCF margin 10.85% 6.79% 16.78% 14.19% -1.25% 10.47%
FCF Conversion (EBITDA) 25.16% 15.69% 43.2% 31.18% - 20.42%
FCF Conversion (Net income) 327.67% 929.4% - 73.28% - 51.85%
Dividend per Share - - - 2.400 8.500 -
Announcement Date 2/10/20 2/10/20 2/25/21 4/9/22 8/21/23 2/28/24
1ZMW in Million2ZMW
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 1,559 1,992 2,486 1,802 2,595 3,448
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 1.846 x 2.136 x 2.463 x 1.106 x 1.161 x 1.192 x
Free Cash Flow 1 213 146 436 508 -55.5 591
ROE (net income / shareholders' equity) 28.7% -61.7% 163% -2,088% 187% 205%
ROA (Net income/ Total Assets) 15.7% 16.3% 14.7% 23% 27.9% 28%
Assets 1 412.3 96.6 -2,319 3,015 3,306 4,064
Book Value Per Share 2 -0.1100 -0.3800 -3.650 3.010 6.470 4.230
Cash Flow per Share 2 0.3100 0.2800 0.6400 0.4000 1.120 0.7800
Capex 1 535 470 615 556 711 1,044
Capex / Sales 27.32% 21.83% 23.67% 15.52% 15.98% 18.51%
Announcement Date 2/10/20 2/10/20 2/25/21 4/9/22 8/21/23 2/28/24
1ZMW in Million2ZMW
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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