Stock 002578 FUJIAN MINFA ALUMINIUM INC.
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Financials Fujian Minfa Aluminium Inc.

Equities

002578

CNE1000012H0

Aluminum

End-of-day quote Shenzhen S.E.
Other stock markets
 06:00:00 2024-04-29 pm EDT 		5-day change 1st Jan Change
3.08 CNY -1.60% Intraday chart for Fujian Minfa Aluminium Inc. +4.41% -31.25%
Apr. 25 Fujian Minfa Aluminium Inc. Reports Earnings Results for the First Quarter Ended March 31, 2024 CI
Apr. 03 Fujian Minfa Aluminium Inc. Proposes Final Dividend for the Year 2023 CI

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 3,300 3,389 3,285 3,661 4,064 4,205
Enterprise Value (EV) 1 3,062 3,203 3,010 3,617 4,032 4,285
P/E ratio 83.5 x 71.2 x 50 x 65 x 86.6 x 149 x
Yield - - 0.86% - - 0.89%
Capitalization / Revenue 2.31 x 2.32 x 2.06 x 1.63 x 1.46 x 1.49 x
EV / Revenue 2.15 x 2.19 x 1.89 x 1.61 x 1.44 x 1.52 x
EV / EBITDA 27.9 x 27.8 x 21 x 21.5 x 24.7 x 38.9 x
EV / FCF -43.1 x 27.3 x 20.8 x -17.8 x -90.1 x -29.6 x
FCF Yield -2.32% 3.66% 4.8% -5.62% -1.11% -3.37%
Price to Book 2.2 x 2.42 x 2.29 x 2.5 x 2.68 x 2.72 x
Nbr of stocks (in thousands) 988,093 951,868 938,630 938,630 938,630 938,630
Reference price 2 3.340 3.560 3.500 3.900 4.330 4.480
Announcement Date 4/1/19 4/28/20 4/21/21 4/1/22 4/6/23 4/2/24
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 1,426 1,463 1,593 2,244 2,791 2,824
EBITDA 1 109.6 115.3 143 168.3 163.3 110.2
EBIT 1 34.39 38.6 57.5 61.02 59.96 24.95
Operating Margin 2.41% 2.64% 3.61% 2.72% 2.15% 0.88%
Earnings before Tax (EBT) 1 40.55 57.13 72.46 64.6 57.87 33.1
Net income 1 35.81 50.44 62.81 58.23 49.92 26.86
Net margin 2.51% 3.45% 3.94% 2.6% 1.79% 0.95%
EPS 2 0.0400 0.0500 0.0700 0.0600 0.0500 0.0300
Free Cash Flow 1 -71.03 117.1 144.4 -203.2 -44.76 -144.5
FCF margin -4.98% 8.01% 9.06% -9.06% -1.6% -5.12%
FCF Conversion (EBITDA) - 101.56% 100.95% - - -
FCF Conversion (Net income) - 232.27% 229.86% - - -
Dividend per Share - - 0.0300 - - 0.0400
Announcement Date 4/1/19 4/28/20 4/21/21 4/1/22 4/6/23 4/2/24
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 - - - - - 80.3
Net Cash position 1 238 186 276 43.5 31.8 -
Leverage (Debt/EBITDA) - - - - - 0.7286 x
Free Cash Flow 1 -71 117 144 -203 -44.8 -145
ROE (net income / shareholders' equity) 2.26% 3.41% 4.42% 4% 3.42% 1.8%
ROA (Net income/ Total Assets) 1.26% 1.45% 2.05% 2% 1.71% 0.63%
Assets 1 2,839 3,476 3,066 2,907 2,915 4,297
Book Value Per Share 2 1.520 1.470 1.530 1.560 1.620 1.640
Cash Flow per Share 2 0.2400 0.0800 0.1600 0.1800 0.4900 0.5800
Capex 1 98.4 29.9 58.9 20.5 35.1 83.6
Capex / Sales 6.9% 2.04% 3.7% 0.92% 1.26% 2.96%
Announcement Date 4/1/19 4/28/20 4/21/21 4/1/22 4/6/23 4/2/24
1CNY in Million2CNY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Annual profits - Rate of surprise

Company calendar

Sector Other Aluminum

1st Jan change Capi.
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Other Aluminum
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