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OFFON

HMS HYDRAULIC MACHINES & SYSTEMS GROUP PLC

(HMSG)
  Report
Delayed Quote. Delayed London Stock Exchange - 06/18 11:35:03 am
4.54 USD   -4.22%
06/17HMS HYDRAULIC MACHINES & SYSTEMS GROUP PLC : Ex-dividend day for final dividend
FA
06/10HMS Group Reports Rub 1.3 billion EBITDA for 3 -4-
DJ
06/10HMS Group Reports Rub 1.3 billion EBITDA for 3 -3-
DJ
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SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

HMS Group Reports FY 2020 EBITDA of Rub 4.9 -2-

04/28/2021 | 04:02am EDT

by large contracts. EBITDA margin was up to 13.0%, compared with 8.6% in 2019.

in millions of Rub  2020   2019   Change yoy 4Q 2020 3Q 2020 Change qoq 
Orders              22,617 17,363 30%        7,511   10,512  -29% 
Backlog             24,765 16,067 54%        24,765  25,264  -2% 
Revenue             14,947 17,884 -16%       6,080   3,075   98% 
EBITDA              1,939  1,546  25%        796     489     63% 
EBITDA margin       13.0%  8.6%              13.1%   15.9% 

Construction[iv] ? Order intake equaled Rub 247 million. Backlog stood at Rub 1.5 billion. ? Revenue was down to Rub 718 million, compared with Rub 1.4 billion in 2019. EBITDA was Rub (63) million, compared

with Rub (29) million last year.

in millions of Rub  2020    2019    Change yoy 4Q 2020 3Q 2020 Change qoq 
Orders                247     155   60%          32      5     521% 
Backlog               1,541   1,628 -5%          1,541   1,652 -7% 
Revenue               718     1,394 -49%         138     174   -21% 
EBITDA               (63)    (29)   117%        (43)    (59)   -27% 
EBITDA margin       -8.8%   -2.1%              -31.2%  -34.0% 

Working capital and Capital expenditures ? Working capital declined to Rub 6.8 billion, by 24% yoy, compared with Rub 8.8 billion in 2019. As a share of

revenue, working capital declined to 14.5% which is a very low ratio. It was the result of tough anti-crisis

measures initiated by the company. ? Maintenance capex was down to Rub 1.4 billion, by 11% yoy, compared with Rub 1.6 billion in 2019

in millions of Rub            2020  2019  Change yoy 4Q 2020 3Q 2020 Change qoq 
Working capital               6,752 8,846 -24%       6,752   8,715   -23% 
Working capital / Revenue LTM 14.5% 17.2%            14.5%   18.9% 
Capex                         1,392 1,571 -11%       250     399     -37% 
Acquisition                   0     670              0       0 

DEBT POSITION ? Total debt declined by 9% yoy to Rub 22.2 billion, compared with Rub 24.3 billion in 2019. Net debt was down to

Rub 11.8 billion, by 18% yoy, compared with Rub 14.4 billion in 2019. ? Net debt to EBITDA LTM ratio decreased to 2.39x, compared with 2.98x in 2019.

in millions of Rub     2020   2019   Change yoy 4Q 2020 3Q 2020 Change qoq 
Total debt             22,175 24,321 -9%        22,175  22,832  -3% 
Net debt               11,814 14,369 -18%       11,814  13,897  -15% 
Net debt / EBITDA LTM  2.39   2.98              2.39    2.89 

SIGNIFICANT EVENTS AFTER THE REPORTING DATE & FINANCIAL MANAGEMENT

LARGE CONTRACTS ? After the reporting date, in April 2021, the company announced the signature of a Rub 7.5 billion contract to

design and manufacture oil & gas equipment for one of the largest gas fields in Russia. The contract is for

manufacture, delivery and installation of membrane modules and elements, turbocompressor units for an interstage

compressor station and gas transportation units for a gas booster station as part of a helium concentrate membrane

recovery unit. This is a follow-up contract HMS Group has secured with this client. The first one was announced in

2017 in a Rub 10.2 billion contract, and that was the first project of that kind in Russia.

BUYBACK PROGRAM ? After the reporting date, HMS Group repurchased 176,000 GDRs under its buyback program.

DIVIDENDS ? The Board of Directors at the meeting on April 21, 2021, recommended payment of a final dividends in respect of FY

2020 in the amount of Rub 4.25 per one ordinary share (Rub 21.25 per one GDR). The dividends are subject to the

approval at the AGM on June 24, 2021. Subject to such approval, the Dividends may be paid on July 1, 2021 to

shareholders on the Company's register at close of business (UK time) on June 18, 2021 (the "Record Date").

MOEX LISTING ? Also, the Board of Directors approved the listing of the Group's GDRs as a Foreign Issuer on the Moscow Exchange.

The Company's GDRs will continue trading on the Main Market of the London Stock Exchange. Trading of HMS Group's

GDRs on the Moscow Exchange is expected to commence in the second quarter of 2021, subject to approval by the

Moscow Exchange.

***

Webcast to discuss FY 2020 IFRS

Date: Wednesday, April 28, 2021

Time: 5.00 PM (MOSCOW) / 3.00 PM (London) / 10.00 AM (NY)

HMS Group FY 2020 IFRS results

Conference passcode: 5377110

To participate in the conference call, please dial in:

Russia Local: +7 499 609 1260

Russia Toll Free: 8 800 100 9471

UK Local: +44 (0)330 027 1846

UK Toll Free: 0800 031 4838

US Local: +1 334 777 6978

US Toll Free: 800 367 2403

Live link

https://www.webcast-eqs.com/hmsgroup20210428

Contacts:

Investor Relations, ir@hms.ru

***

HMS Group is the leading pump and compressor manufacturer, as well as provider of flow control solutions and related services to the oil and gas, nuclear and thermal power generation and water utilities sectors in Russia and the CIS. HMS Group's products are mission-critical elements of projects across a diverse range of industries. It has participated in a number of large-scale infrastructure projects in Russia, including providing pumps and modular equipment to the Vankor oil field and pumping stations on recent trunk pipelines projects linking Russia's core oil producing areas to export ports on the Pacific Ocean and Baltic Sea. HMS Group's global depositary receipts ("GDRs") are listed under the symbol "HMSG" on the London Stock Exchange.

Press Release Information Accuracy Disclaimer

Information published in press releases was accurate at the time of publication but may be superseded by subsequent releases or other information.

LEI: 254900DDFETNLASV8M53

Consolidated Statement of Financial Position at 31 December 2020

in thousands of Russian Roubles, unless otherwise stated 31 December 2020 31 December 2019 
ASSETS 
Non-current assets: 
Property, plant and equipment                            14,684,279       15,532,576 
Other intangible assets                                  1,743,399        2,001,646 
Goodwill                                                 3,255,984        3,370,275 
Right-of-use assets                                      183,211          174,614 
Investments in associates                                94,307           94,489 
Deferred income tax assets                               786,455          631,428 
Other long-term assets                                   42,252           42,316 
Investment property                                      176,833          186,632 
Total non-current assets                                 20,966,720       22,033,976 
 
 
Current assets: 
Inventories                                              8,847,749        7,859,051 
Trade and other receivables and other financial assets   15,598,766       18,051,909 
Contract assets                                          6,201,354        8,058,877 
Current income tax receivable                            94,972           227,917 
Cash and cash equivalents                                10,360,588       9,952,118 
Total current assets                                     41,103,429       44,149,872 
TOTAL ASSETS                                             62,070,149       66,183,848 
 
EQUITY AND LIABILITIES 
 
EQUITY 
Share capital                                            48,329           48,329 
Share premium                                            3,523,535        3,523,535 
Treasury shares                                          (33,055)         (319,475) 
Other reserves                                           129,392          62,716 
Currency translation reserve                             646,427          (44,878) 
Retained earnings                                        5,510,974        7,029,094 
Equity attributable to the shareholders of the Company   9,825,602        10,299,321 
Non-controlling interests                                3,518,674        3,569,953 
TOTAL EQUITY                                             13,344,276       13,869,274 
 
LIABILITIES 
Non-current liabilities: 
Long-term borrowings                                     20,452,736       20,582,061 
Deferred income tax liability                            1,421,489        1,620,211 
Retirement benefit obligations                           646,213          597,238 
Provisions for liabilities and charges                   228,199          154,809 
Lease liabilities                                        153,048          139,272 
Other long-term payables                                 230,581          240,172 
Total non-current liabilities                            23,132,266       23,333,763 
 
 
Current liabilities: 
Trade and other payables                                 17,969,950       20,658,429 
Contract liabilities                                     4,304,845        2,248,029 
Short-term borrowings                                    1,548,574        3,578,390 
Provisions for liabilities and charges                   589,762          550,050 
Retirement benefit obligations                           77,859           76,904 
Lease liabilities                                        20,440           21,329 
Current income tax payable                               134,080          218,974 
Other taxes payable                                      948,097          1,628,706 
Total current liabilities                                25,593,607       28,980,811 
TOTAL LIABILITIES                                        48,725,873       52,314,574 
TOTAL EQUITY AND LIABILITIES                             62,070,149       66,183,848 

(MORE TO FOLLOW) Dow Jones Newswires

April 28, 2021 04:01 ET (08:01 GMT)

Stocks mentioned in the article
ChangeLast1st jan.
DJ INDUSTRIAL -1.58% 33290.08 Delayed Quote.11.20%
HMS HOLDINGS CORP. 0.01% 36.975 End-of-day quote.0.61%
HMS HYDRAULIC MACHINES & SYSTEMS GROUP PLC -4.22% 4.54 Delayed Quote.13.50%
LONDON BRENT OIL 0.44% 73.22 Delayed Quote.42.82%
LONDON STOCK EXCHANGE GROUP PLC -0.23% 7966 Delayed Quote.-11.57%
RTS INDEX -1.15% 1647.02 Real-time Quote.18.73%
US DOLLAR / RUSSIAN ROUBLE (USD/RUB) -0.16% 72.686 Delayed Quote.-1.86%
WTI 0.78% 71.41 Delayed Quote.48.31%
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Financials
Sales 2021 61 000 M 839 M 839 M
Net income 2021 - - -
Net Debt 2021 14 275 M 196 M 196 M
P/E ratio 2021 -
Yield 2021 8,14%
Capitalization 7 718 M 106 M 106 M
EV / Sales 2021 0,36x
EV / Sales 2022 0,34x
Nbr of Employees 13 000
Free-Float 98,6%
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Technical analysis trends HMS HYDRAULIC MACHINES & SYSTEMS GROUP PLC
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 1
Average target price 395,31 RUB
Last Close Price 330,52 RUB
Spread / Highest target 19,6%
Spread / Average Target 19,6%
Spread / Lowest Target 19,6%
Managers and Directors
NameTitle
Artem Vladimirovich Molchanov CEO, Managing Director & Executive Director
Kirill Vladimirovich Molchanov CFO, Executive Director & First Deputy CEO
Nikolay Nikolaevich Yamburenko Chairman
Ezio Vergani Independent Non-Executive Director
Giorgio Veronesi Independent Non-Executive Director
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