Financials Canvest Environmental Protection Group Company Limited

Equities

Market Closed - Hong Kong S.E. Other stock markets 04:08:20 2024-04-26 am EDT			5-day change	1st Jan Change
3.89 ^HKD	-0.51%		-0.51%	+4.29%

Apr. 21	Redwheel backs Royal Mail owner's rejection of Kretinsky share offer	RE
Mar. 26	Canvest Environmental Protection Posts 25% Decline in 2023 Profit	MT

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Capitalization ¹	10,114	8,782	8,099	10,051	10,270	9,490	9,490	-
Enterprise Value (EV) ¹	12,926	13,147	15,511	21,060	22,043	9,099	21,651	20,843
P/E ratio	13.4 x	9.84 x	7.65 x	7.57 x	7.67 x	9.05 x	8.03 x	6.94 x
Yield	1.12%	2.03%	2.59%	2.62%	2.59%	2.17%	2.78%	3.8%
Capitalization / Revenue	3.04 x	2.22 x	1.62 x	1.48 x	1.25 x	1.83 x	1.86 x	1.81 x
EV / Revenue	3.89 x	3.33 x	3.11 x	3.1 x	2.67 x	1.83 x	4.25 x	3.97 x
EV / EBITDA	10.1 x	8.41 x	7.52 x	8.05 x	7.14 x	3.42 x	7.54 x	6.93 x
EV / FCF	-34.8 x	-25.5 x	-8.45 x	-8.44 x	-	-7,876 x	-41.3 x	9.61 x
FCF Yield	-2.87%	-3.92%	-11.8%	-11.8%	-	-0.01%	-2.42%	10.4%
Price to Book	1.91 x	1.51 x	1.14 x	1.18 x	1.18 x	0.97 x	0.92 x	0.84 x
Nbr of stocks (in thousands)	2,454,932	2,439,541	2,439,541	2,439,541	2,439,541	2,439,541	2,439,541	-
Reference price ²	4.120	3.600	3.320	4.120	4.210	3.890	3.890	3.890
Announcement Date	3/25/19	3/19/20	3/23/21	3/22/22	3/22/23	3/26/24	-	-

¹HKD in Million²HKD

Estimates

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net sales ¹	3,326	3,952	4,988	6,795	8,247	4,980	5,097	5,253
EBITDA ¹	1,274	1,564	2,062	2,616	3,086	2,657	2,872	3,006
EBIT ¹	990.3	1,171	1,479	1,863	2,057	1,645	1,837	2,046
Operating Margin	29.77%	29.63%	29.66%	27.41%	24.94%	33.02%	36.05%	38.95%
Earnings before Tax (EBT) ¹	852.3	1,022	1,257	1,547	1,647	1,140	1,356	1,608
Net income ¹	754.4	892.6	1,054	1,322	1,333	1,001	1,156	1,340
Net margin	22.68%	22.59%	21.13%	19.46%	16.16%	20.11%	22.68%	25.5%
EPS ²	0.3070	0.3660	0.4340	0.5440	0.5490	0.4120	0.4845	0.5606
Free Cash Flow ¹	-371.2	-514.9	-1,835	-2,495	-	-2.8	-524	2,168
FCF margin	-11.16%	-13.03%	-36.8%	-36.72%	-	-0.05%	-10.28%	41.27%
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	72.12%
FCF Conversion (Net income)	-	-	-	-	-	-	-	161.84%
Dividend per Share ²	0.0460	0.0730	0.0860	0.1080	0.1090	0.0810	0.1080	0.1480
Announcement Date	3/25/19	3/19/20	3/23/21	3/22/22	3/22/23	3/26/24	-	-

¹HKD in Million²HKD

Estimates

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net Debt ¹	2,811	4,364	7,412	11,009	11,772	12,563	12,162	11,353
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	2.207 x	2.791 x	3.595 x	4.208 x	3.814 x	4.217 x	4.235 x	3.776 x
Free Cash Flow ¹	-371	-515	-1,835	-2,495	-	-2.8	-524	2,168
ROE (net income / shareholders' equity)	14.8%	16.1%	16.3%	16.9%	15.5%	11.1%	11.7%	12.3%
ROA (Net income/ Total Assets)	7.48%	7.32%	6.49%	6.08%	5.3%	3.79%	4.27%	5.03%
Assets ¹	10,089	12,193	16,244	21,731	25,130	26,448	27,073	26,618
Book Value Per Share ²	2.160	2.390	2.920	3.480	3.570	4.010	4.240	4.620
Cash Flow per Share ²	-0.0600	-0.1700	-0.7300	-	-	0.9000	-	-
Capex ¹	66.7	91.6	69.8	115	115	377	100	125
Capex / Sales	2.01%	2.32%	1.4%	1.7%	1.39%	6.11%	1.96%	2.38%
Announcement Date	3/25/19	3/19/20	3/23/21	3/22/22	3/22/23	3/26/24	-	-

¹HKD in Million²HKD

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

3.89 HKD

Average target price

4.815 HKD

Spread / Average Target

+23.78%

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