Financials Globus Maritime Limited

Equities

GLBS

MHY272651263

Marine Freight & Logistics

Market Closed - Nasdaq Other stock markets 04:30:00 2024-04-26 pm EDT			5-day change	1st Jan Change
1.95 ^USD	+1.06%		-2.99%	-26.42%

Mar. 15	Globus Maritime Limited Reports Earnings Results for the Full Year Ended December 31, 2023	CI
Jan. 25	Globus Maritime Limited Announces the Delivery of a 2024-Built Ultramax Dry Bulk Vessel ?Glbs Hero,? Expanding Fleet to Seven Vessels	CI

Valuation

Fiscal Period: December	2021	2022	2023	2024	2025	2026
Capitalization ¹	43.21	21.61	54.54	40.14	-	-
Enterprise Value (EV) ¹	43.21	21.61	54.54	40.14	40.14	40.14
P/E ratio	-	0.89 x	10.2 x	5.13 x	-12.2 x	-195 x
Yield	-	-	-	-	-	-
Capitalization / Revenue	1 x	0.35 x	1.75 x	0.86 x	0.9 x	0.73 x
EV / Revenue	1 x	0.35 x	1.75 x	0.86 x	0.9 x	0.73 x
EV / EBITDA	1.76 x	0.64 x	7.89 x	1.75 x	2.35 x	1.63 x
EV / FCF	-	-10.3 x	-	-0.63 x	-1.11 x	-1.23 x
FCF Yield	-	-9.73%	-	-159%	-90.2%	-81.2%
Price to Book	0.3 x	0.13 x	-	0.22 x	0.22 x	0.22 x
Nbr of stocks (in thousands)	20,577	20,582	20,582	20,582	-	-
Reference price ²	2.100	1.050	2.650	1.950	1.950	1.950
Announcement Date	4/11/22	3/20/23	3/15/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	-	43.38	61.76	31.2	46.7	44.8	54.8
EBITDA ¹	-	24.6	33.88	6.911	23	17.1	24.6
EBIT ¹	-	17.94	23.63	6.277	13.6	4.1	8.6
Operating Margin	-	41.36%	38.27%	20.12%	29.12%	9.15%	15.69%
Earnings before Tax (EBT)	-	-	-	-	-	-	-
Net income ¹	-17.37	-	24.28	5.272	7.8	-3.3	-0.2
Net margin	-	-	39.32%	16.89%	16.7%	-7.37%	-0.36%
EPS ²	-	-	1.180	0.2600	0.3800	-0.1600	-0.0100
Free Cash Flow ¹	-	-	-2.102	-	-63.9	-36.2	-32.6
FCF margin	-	-	-3.4%	-	-136.83%	-80.8%	-59.49%
FCF Conversion (EBITDA)	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-
Dividend per Share	-	-	-	-	-	-	-
Announcement Date	3/29/21	4/11/22	3/20/23	3/15/24	-	-	-

¹USD in Million²USD

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
Net sales ¹	12.76	18.63	18.44	19.14	15.87	8.305	8.579	7.835	7.681	7.11	8	8.9	12.3	17.5
EBITDA ¹	7.814	12.43	13.82	13.58	6.35	0.126	1.341	0.907	1.997	2.666	2.7	3.3	6.1	10.9
EBIT ¹	5.894	10.3	10.32	11.06	3.691	-2.582	-1.097	-1.422	-0.202	0.722	0.8	1	3.7	8.2
Operating Margin	46.21%	55.27%	55.95%	57.76%	23.26%	-31.09%	-12.79%	-18.15%	-2.63%	10.15%	10%	11.24%	30.08%	46.86%
Earnings before Tax (EBT)	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income ¹	-	-	-	11.02	4.335	-3.153	2.586	-1.161	3.469	0.378	-0.5	-0.3	2.2	6.4
Net margin	-	-	-	57.54%	27.32%	-37.97%	30.14%	-14.82%	45.16%	5.32%	-6.25%	-3.37%	17.89%	36.57%
EPS ²	-	-	-	0.5400	0.2100	-0.1500	0.1300	-0.0600	0.1700	0.0200	-0.0200	-0.0100	0.1100	0.3100
Dividend per Share	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	11/30/21	4/11/22	6/6/22	8/16/22	11/28/22	3/20/23	6/2/23	9/12/23	11/16/23	3/15/24	-	-	-	-

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-
Free Cash Flow ¹	-	-	-2.1	-	-63.9	-36.2	-32.6
ROE (net income / shareholders' equity)	-	-	15.3%	-	4.4%	-1.8%	-0.1%
ROA (Net income/ Total Assets)	-	-	-	-	-	-	-
Assets ¹	-	-	-	-	-	-	-
Book Value Per Share ²	-	7.110	8.290	-	8.930	8.770	8.760
Cash Flow per Share	-	-	-	-	-	-	-
Capex	-	-	-	-	-	-	-
Capex / Sales	-	-	-	-	-	-	-
Announcement Date	3/29/21	4/11/22	3/20/23	3/15/24	-	-	-

¹USD in Million²USD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Ratings for Globus Maritime Limited

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

1.95 USD

Average target price

4 USD

Spread / Average Target

+105.13%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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	1st Jan change	Capi.
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