Financials E1 Corporation

Equities

A017940

KR7017940008

Oil & Gas Refining and Marketing

End-of-day quote Korea S.E. Other stock markets 06:00:00 2024-04-29 pm EDT			5-day change	1st Jan Change
68,800 ^KRW	-1.15%		+3.77%	+10.43%

Mar. 21	E1 Corporation Reports Earnings Results for the Full Year Ended December 31, 2023	CI
2023	E1 Corporation Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023	CI

Valuation

Fiscal Period: December	2022	2023	2024	2025	2026
Capitalization ¹	262,781	360,203	397,206	-	-
Enterprise Value (EV) ²	262.8	360.2	1,607	1,510	1,386
P/E ratio	1.85 x	-	-	-	-
Yield	-	-	7.5%	7.5%	7.5%
Capitalization / Revenue	-	0.05 x	0.05 x	0.05 x	0.04 x
EV / Revenue	-	0.05 x	0.2 x	0.18 x	0.16 x
EV / EBITDA	-	-	3.6 x	3.22 x	2.54 x
EV / FCF	-	-	-	-	-
FCF Yield	-	-	-	-	-
Price to Book	-	-	0.27 x	0.25 x	0.24 x
Nbr of stocks (in thousands)	5,782	5,782	5,782	-	-
Reference price ³	45,450	62,300	68,700	68,700	68,700
Announcement Date	3/16/23	2/8/24	-	-	-

¹KRW in Million²KRW in Billions³KRW

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2022	2023	2024	2025	2026
Net sales ¹	-	7,828	7,957	8,497	8,935
EBITDA ¹	-	-	446.1	468.6	545
EBIT ¹	-	93.17	283.5	286.2	342.9
Operating Margin	-	1.19%	3.56%	3.37%	3.84%
Earnings before Tax (EBT)	-	-	-	-	-
Net income	141.9	-	-	-	-
Net margin	-	-	-	-	-
EPS	24,536	-	-	-	-
Free Cash Flow	-	-	-	-	-
FCF margin	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-
Dividend per Share ²	-	-	5,150	5,150	5,150
Announcement Date	3/16/23	2/8/24	-	-	-

¹KRW in Billions²KRW

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2023 Q1	2023 Q2	2023 Q3	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1
Net sales ¹	-	1,875	1,839	2,076	1,976	1,756	2,149	2,200
EBITDA ¹	-	130.3	22.51	119.9	115.7	96	114.5	110.9
EBIT ¹	-	99.28	-14.44	81.4	75.3	54.8	72	67.4
Operating Margin	-	5.3%	-0.78%	3.92%	3.81%	3.12%	3.35%	3.06%
Earnings before Tax (EBT)	-	-	-	-	-	-	-	-
Net income	124.2	-	-	-	-	-	-	-
Net margin	-	-	-	-	-	-	-	-
EPS	21,473	-	-	-	-	-	-	-
Dividend per Share	-	-	-	-	-	-	-	-
Announcement Date	5/15/23	8/11/23	11/14/23	-	-	-	-	-

¹KRW in Billions

Estimates

Balance Sheet Analysis

Fiscal Period: December	2022	2023	2024	2025	2026
Net Debt ¹	-	-	1,210	1,113	989
Net Cash position ¹	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	2.711 x	2.375 x	1.814 x
Free Cash Flow	-	-	-	-	-
ROE (net income / shareholders' equity)	-	13.4%	8.6%	9.3%	9.9%
ROA (Net income/ Total Assets)	-	-	3.1%	3.6%	4%
Assets	-	-	-	-	-
Book Value Per Share ²	-	-	251,924	270,307	292,162
Cash Flow per Share ²	-	-	29,482	37,641	42,862
Capex ¹	-	-	62.4	79.7	97.3
Capex / Sales	-	-	0.78%	0.94%	1.09%
Announcement Date	3/16/23	2/8/24	-	-	-

¹KRW in Billions²KRW

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for E1 Corporation

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

68,700 KRW

Average target price

85,000 KRW

Spread / Average Target

+23.73%

Consensus

Quarterly revenue - Rate of surprise

Company calendar

Sector Petroleum Product Wholesale

	1st Jan change	Capi.
E1 CORPORATION	+10.43%	287M
PTT OIL AND RETAIL BUSINESS	-2.09%	6.05B
PETRONAS DAGANGAN	-0.64%	4.52B
QATAR FUEL COMPANY Q.P.S.C. ("WOQOD")	-12.79%	3.93B
RUBIS	+42.76%	3.58B
VIVA ENERGY GROUP LIMITED	-4.01%	3.41B
AMERIGAS PARTNERS, L.P.	+23.40%	3.23B
PT AKR CORPORINDO TBK	+13.56%	2.04B
GLOBAL PARTNERS LP	+12.64%	1.59B
WORLD KINECT CORPORATION	+4.21%	1.4B

Petroleum Product Wholesale