Financials IMPOL SEVAL Valjaonica Aluminijuma a.d.

Equities

IMPL

RSIMPLE20713

Aluminum

End-of-day quote Belgrade S.E. 06:00:00 2024-04-22 pm EDT 5-day change 1st Jan Change
6,500 RSD +8.33% Intraday chart for IMPOL SEVAL Valjaonica Aluminijuma a.d. +8.33% +18.18%

Valuation

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Capitalization 1 3,581 2,827 3,140 3,345 3,486 4,545
Enterprise Value (EV) 1 6,223 5,824 5,231 6,219 5,340 5,745
P/E ratio 6.75 x 4.51 x 9.09 x 953 x 4.18 x 2.3 x
Yield 1.08% 1.58% - 3.52% 16.9% -
Capitalization / Revenue 0.24 x 0.23 x 0.23 x 0.28 x 0.16 x 0.19 x
EV / Revenue 0.41 x 0.47 x 0.38 x 0.51 x 0.25 x 0.24 x
EV / EBITDA 5.76 x 4.98 x 5.87 x 15.1 x 3.12 x 1.68 x
EV / FCF -14.7 x -10.4 x 9.48 x -7.22 x 16.8 x 28.8 x
FCF Yield -6.82% -9.6% 10.5% -13.9% 5.95% 3.47%
Price to Book 0.65 x 0.44 x 0.46 x 0.5 x 0.45 x 0.45 x
Nbr of stocks (in thousands) 942 942 942 942 942 942
Reference price 2 3,800 3,000 3,332 3,550 3,699 4,823
Announcement Date 4/23/18 4/18/19 4/27/20 4/26/21 5/4/22 5/4/23
1RSD in Million2RSD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Net sales 1 15,121 12,524 13,759 12,119 21,198 24,397
EBITDA 1 1,080 1,170 891.5 410.5 1,711 3,419
EBIT 1 669.6 745.6 437 18.46 1,246 2,867
Operating Margin 4.43% 5.95% 3.18% 0.15% 5.88% 11.75%
Earnings before Tax (EBT) 1 771.9 897.3 496.8 8.451 1,187 2,824
Net income 1 530.5 626.4 345.2 3.509 833.5 1,977
Net margin 3.51% 5% 2.51% 0.03% 3.93% 8.11%
EPS 2 563.0 664.8 366.4 3.724 884.5 2,098
Free Cash Flow 1 -424.3 -559.1 551.8 -861.7 318 199.6
FCF margin -2.81% -4.46% 4.01% -7.11% 1.5% 0.82%
FCF Conversion (EBITDA) - - 61.89% - 18.59% 5.84%
FCF Conversion (Net income) - - 159.83% - 38.15% 10.09%
Dividend per Share 2 41.00 47.50 - 124.8 623.9 -
Announcement Date 4/23/18 4/18/19 4/27/20 4/26/21 5/4/22 5/4/23
1RSD in Million2RSD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Net Debt 1 2,643 2,997 2,091 2,874 1,854 1,201
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 2.446 x 2.561 x 2.346 x 7 x 1.084 x 0.3512 x
Free Cash Flow 1 -424 -559 552 -862 318 200
ROE (net income / shareholders' equity) 14.8% 15% 7.47% 0.08% 16.4% 31.7%
ROA (Net income/ Total Assets) 4.12% 3.95% 2.11% 0.09% 5.16% 11.9%
Assets 1 12,885 15,877 16,363 4,090 16,139 16,662
Book Value Per Share 2 5,844 6,772 7,265 7,158 8,303 10,680
Cash Flow per Share 2 293.0 258.0 501.0 400.0 815.0 1,022
Capex 1 967 824 740 705 564 389
Capex / Sales 6.4% 6.58% 5.38% 5.81% 2.66% 1.59%
Announcement Date 4/23/18 4/18/19 4/27/20 4/26/21 5/4/22 5/4/23
1RSD in Million2RSD
Estimates
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