Financials HF Company

Equities

Market Closed - Euronext Paris Other stock markets 06:25:06 2024-04-26 am EDT			5-day change	1st Jan Change
5.54 ^EUR	0.00%		-6.10%	+2.97%

Feb. 20	Stef: SPFA crosses the 10% threshold	CF
Jan. 03	Equasens to Acquire 70% Stake in Digipharmacie	MT

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Capitalization ¹	18.28	16.33	17.44	21.97	17.05	17.3	17.3	-
Enterprise Value (EV) ¹	2.679	7.129	5.936	-2.542	-4.484	13.9	13.3	12.7
P/E ratio	-4.48 x	-14.7 x	-2.12 x	31.8 x	32.1 x	139 x	185 x	111 x
Yield	8.99%	-	-	7.14%	19.6%	9.03%	9.03%	9.03%
Capitalization / Revenue	0.51 x	0.51 x	0.6 x	0.92 x	2.65 x	2.93 x	3.85 x	3.68 x
EV / Revenue	0.07 x	0.22 x	0.2 x	-0.11 x	-0.7 x	2.36 x	2.96 x	2.7 x
EV / EBITDA	-1.58 x	10.2 x	4.57 x	1.84 x	-	-	-	-
EV / FCF	-0.8 x	-15.6 x	9.76 x	-	-	27.8 x	19 x	63.5 x
FCF Yield	-125%	-6.42%	10.2%	-	-	3.6%	5.26%	1.57%
Price to Book	0.44 x	0.4 x	-	-	-	0.64 x	0.68 x	0.72 x
Nbr of stocks (in thousands)	3,288	3,272	3,241	3,138	3,122	3,123	3,123	-
Reference price ²	5.560	4.990	5.380	7.000	5.460	5.540	5.540	5.540
Announcement Date	4/17/19	3/30/20	2/4/21	4/19/22	4/28/23	-	-	-

¹EUR in Million²EUR

Estimates

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net sales ¹	36	32.2	29.1	24	6.432	5.9	4.5	4.7
EBITDA ¹	-1.7	0.7	1.3	-1.379	-	-	-	-
EBIT ¹	-3.1	-1.4	-8.4	-2.6	-0.618	-0.5	-0.5	-0.4
Operating Margin	-8.61%	-4.35%	-28.87%	-10.83%	-9.61%	-8.47%	-11.11%	-8.51%
Earnings before Tax (EBT)	-3.798	-1.47	-	-	-	-	-	-
Net income ¹	-4.1	-1.1	-8	0.7	0.532	0.1	0.1	0.1
Net margin	-11.39%	-3.42%	-27.49%	2.92%	8.27%	1.69%	2.22%	2.13%
EPS ²	-1.240	-0.3400	-2.540	0.2200	0.1700	0.0400	0.0300	0.0500
Free Cash Flow ¹	-3.343	-0.458	0.608	-	-	0.5	0.7	0.2
FCF margin	-9.29%	-1.42%	2.09%	-	-	8.47%	15.56%	4.26%
FCF Conversion (EBITDA)	-	-	46.77%	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	500%	700%	200%
Dividend per Share ²	0.5000	-	-	0.5000	1.070	0.5000	0.5000	0.5000
Announcement Date	4/17/19	3/30/20	2/4/21	4/19/22	4/28/23	-	-	-

¹EUR in Million²EUR

Estimates

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net Debt ¹	-	-	-	-	-	-	-	-
Net Cash position ¹	15.6	9.2	11.5	24.5	21.5	3.4	4	4.6
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	-3.34	-0.46	0.61	-	-	0.5	0.7	0.2
ROE (net income / shareholders' equity)	-9.03%	-2.69%	-0.63%	-5.92%	-	0.4%	0.3%	0.6%
ROA (Net income/ Total Assets)	-	-	-	-	-	-	-	-
Assets ¹	-	-	-	-	-	-	-	-
Book Value Per Share ²	12.80	12.60	-	-	-	8.640	8.160	7.710
Cash Flow per Share ²	-0.8600	0.0900	0.7200	-0.4500	0.1100	0.1900	0.1700	0.1800
Capex ¹	1.22	0.76	0.79	-	-	0.3	0.3	0.3
Capex / Sales	3.4%	2.37%	2.71%	-	-	5.08%	6.67%	6.38%
Announcement Date	4/17/19	3/30/20	2/4/21	4/19/22	4/28/23	-	-	-

¹EUR in Million²EUR

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

5.54 EUR

Average target price

7.6 EUR

Spread / Average Target

+37.18%

	1st Jan change	Capi.
HF COMPANY	+2.97%	18.47M
INDUS TOWERS LIMITED	+77.49%	11.41B
INWIT S.P.A.	-12.79%	10.07B
PT DAYAMITRA TELEKOMUNIKASI TBK.	-17.73%	2.95B
STATE GRID INFORMATION & COMMUNICATION CO., LTD.	+11.22%	2.8B
PT TOWER BERSAMA INFRASTRUCTURE TBK	-11.24%	2.59B
PT SARANA MENARA NUSANTARA TBK.	-19.70%	2.44B
DIGITAL TELECOMMUNICATIONS INFRASTRUCTURE FUND	0.00%	2.22B
CHORUS LIMITED	-8.46%	1.85B
3BB INTERNET INFRASTRUCTURE FUND	-7.20%	1.25B