Stock AGAS AVANCE GAS HOLDING LTD
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Financials Avance Gas Holding Ltd

Equities

AGAS

BMG067231032

Oil & Gas Transportation Services

Market Closed - Oslo Bors
Other stock markets
 10:45:00 2024-04-26 am EDT 		5-day change 1st Jan Change
153.2 NOK +4.08% Intraday chart for Avance Gas Holding Ltd +5.22% +2.41%
Apr. 17 Nordic Shares Decreased Wednesday; Bravida Holding Took Biggest Hit DJ
Feb. 14 Transcript : Avance Gas Holding Ltd, Q4 2023 Earnings Call, Feb 14, 2024

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 3,183 307.1 302 465.5 1,127 1,062 - -
Enterprise Value (EV) 2 3,550 647.8 590 692.8 1,488 1,443 1,399 1,491
P/E ratio 6.05 x 6.64 x 8.89 x 4.97 x 6.66 x 5.36 x 10.3 x 9.93 x
Yield 5.64% 2.25% 6.65% 19.1% 15.2% 23.6% 8.31% 9.14%
Capitalization / Revenue 18.3 x 2.13 x 2.11 x 2.54 x 4.12 x 4.28 x 5.05 x 4.64 x
EV / Revenue 20.5 x 4.5 x 4.13 x 3.79 x 5.44 x 5.81 x 6.66 x 6.51 x
EV / EBITDA 27.9 x 6.81 x 6.25 x 5.11 x 6.57 x 7.03 x 8.42 x 8.35 x
EV / FCF 47.6 x 50.9 x 44.1 x -21.7 x -145 x 4.21 x 19.7 x 30.1 x
FCF Yield 2.1% 1.97% 2.27% -4.62% -0.69% 23.7% 5.07% 3.32%
Price to Book 0.75 x 0.69 x 0.56 x 0.42 x 1.81 x 2.05 x 2.05 x 2.06 x
Nbr of stocks (in thousands) 63,656 63,694 76,593 76,593 76,593 76,593 - -
Reference price 3 50.00 41.12 34.72 59.55 149.6 153.2 153.2 153.2
Announcement Date 2/27/20 2/19/21 2/22/22 2/28/23 2/14/24 - - -
1NOK in Million2USD in Million3NOK
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 173.6 144.1 143 183 273.7 248.2 210.2 228.9
EBITDA 1 127.2 95.19 94.43 135.6 226.6 205.2 166.2 178.5
EBIT 1 85.38 59.31 47.22 109.2 182.6 193.7 122.7 129.7
Operating Margin 49.19% 41.16% 33.02% 59.69% 66.71% 78.03% 58.36% 56.68%
Earnings before Tax (EBT) 1 56 70.99 32.61 89.28 163.8 207 107.5 112.3
Net income 1 55.95 70.91 32.11 88.99 163.6 206.8 107.5 112.3
Net margin 32.24% 49.21% 22.46% 48.62% 59.75% 83.3% 51.16% 49.07%
EPS 2 8.267 6.192 3.907 11.99 22.46 28.57 14.90 15.43
Free Cash Flow 1 74.65 12.73 13.38 -31.98 -10.3 342.5 71 49.5
FCF margin 43.01% 8.84% 9.35% -17.47% -3.76% 137.98% 33.77% 21.63%
FCF Conversion (EBITDA) 58.67% 13.38% 14.17% - - 166.89% 42.71% 27.72%
FCF Conversion (Net income) 133.41% 17.96% 41.66% - - 165.65% 66.02% 44.07%
Dividend per Share 2 2.818 0.9234 2.308 11.37 22.77 36.15 12.72 14.01
Announcement Date 2/27/20 2/19/21 2/22/22 2/28/23 2/14/24 - - -
1USD in Million2NOK
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 31.6 32.91 46.86 43.56 39.12 53.5 62.35 62.57 59.24 89.59 80.66 52.67 54.62 69.24 43
EBITDA 1 19.45 21.56 34.77 31.61 27.73 41.5 51.27 51.55 46.06 77.68 69.58 42.17 43.76 58.71 33
EBIT 1 8.077 10.18 22.67 20.47 16.59 38.75 40.72 40.02 35.25 66.62 86.9 43.15 33.07 47.69 23
Operating Margin 25.56% 30.93% 48.37% 46.98% 42.42% 72.43% 65.31% 63.97% 59.5% 74.36% 107.73% 81.93% 60.55% 68.88% 53.49%
Earnings before Tax (EBT) 1 4.221 7.99 24.31 18.46 11.65 34.86 36.37 35.76 30.11 61.59 110.5 50.76 28.73 43.06 19
Net income 1 4.221 7.492 24.3 18.4 11.6 34.71 36.32 35.71 30.08 61.47 110.5 50.76 28.73 43.06 19
Net margin 13.36% 22.77% 51.86% 42.24% 29.67% 64.89% 58.25% 57.07% 50.77% 68.61% 136.95% 96.37% 52.59% 62.19% 44.19%
EPS 2 0.5374 0.8879 3.070 2.351 1.496 4.650 5.227 4.898 4.168 8.474 13.06 6.123 3.598 5.944 2.542
Dividend per Share 2 0.4475 0.4439 1.919 1.982 1.983 5.167 5.598 5.283 5.314 6.885 18.17 10.57 4.021 5.289 2.542
Announcement Date 11/25/21 2/22/22 5/25/22 8/31/22 11/24/22 2/28/23 5/30/23 8/30/23 11/28/23 2/14/24 - - - - -
1USD in Million2NOK
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 367 341 288 227 361 380 337 429
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 2.886 x 3.579 x 3.051 x 1.676 x 1.595 x 1.852 x 2.025 x 2.4 x
Free Cash Flow 1 74.6 12.7 13.4 -32 -10.3 343 71 49.5
ROE (net income / shareholders' equity) 14.4% 16.4% 6.48% 15.6% 27.1% 40.2% 19.8% 19.8%
ROA (Net income/ Total Assets) 6.32% 7.89% 3.47% 8.8% 14.7% 26% 8.5% 9.6%
Assets 1 884.9 898.1 926.3 1,012 1,111 795.2 1,265 1,170
Book Value Per Share 2 66.30 59.60 61.90 143.0 82.60 74.80 74.80 74.40
Cash Flow per Share 12.30 10.50 - - - - - -
Capex 1 8.82 66.2 60.2 155 177 140 72 121
Capex / Sales 5.08% 45.96% 42.09% 84.74% 64.82% 56.2% 34.25% 53.01%
Announcement Date 2/27/20 2/19/21 2/22/22 2/28/23 2/14/24 - - -
1USD in Million2NOK
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Avance Gas Holding Ltd

Trading Rating
Investor Rating
ESG Refinitiv
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
3
Last Close Price
153.2 NOK
Average target price
156 NOK
Spread / Average Target
+1.83%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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Sea-Borne Tankers
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