Financials Johore Tin

Equities

End-of-day quote BURSA MALAYSIA Other stock markets 06:00:00 2024-04-25 pm EDT			5-day change	1st Jan Change
1.71 ^MYR	-1.72%		+1.79%	+14.00%

Apr. 16	Able Global Berhad Announces Resignation of Yong May Li as Company Secretary	CI
Feb. 26	Able Global Berhad Declares Single Tier Fourth Interim Dividend in Respect of Financial Year Ended 31 December 2023, Payable on March 29, 2024	CI

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Capitalization ¹	298.1	537.1	618.2	495.2	415.2	525.9	525.9	-
Enterprise Value (EV) ¹	298.1	537.1	618.2	501.8	415.2	461.3	525.9	525.9
P/E ratio	7.74 x	11.1 x	15.8 x	12.4 x	12.5 x	8.88 x	9.66 x	9.4 x
Yield	5.21%	3.7%	2.69%	3.11%	2.96%	4.33%	4.05%	4.19%
Capitalization / Revenue	0.59 x	0.93 x	1.23 x	0.99 x	0.75 x	0.71 x	0.76 x	0.73 x
EV / Revenue	0.59 x	0.93 x	1.23 x	0.99 x	0.75 x	0.71 x	0.76 x	0.73 x
EV / EBITDA	4.98 x	7.07 x	9.51 x	7.69 x	7.25 x	5.54 x	6.09 x	6.01 x
EV / FCF	15,267,501 x	18,510,987 x	-	-	-	-	-	-
FCF Yield	0%	0%	-	-	-	-	-	-
Price to Book	-	-	1.73 x	1.3 x	-	1.05 x	1.07 x	1.01 x
Nbr of stocks (in thousands)	310,471	310,471	307,563	307,563	307,563	307,563	307,563	-
Reference price ²	0.9600	1.730	2.010	1.610	1.350	1.710	1.710	1.710
Announcement Date	2/26/19	2/25/20	3/19/21	2/25/22	2/27/23	2/26/24	-	-

¹MYR in Million²MYR

Estimates

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net sales ¹	501.1	578.7	501.9	499.9	550.1	648.5	691	718.6
EBITDA ¹	59.84	75.94	65.03	64.4	57.25	83.26	86.4	87.5
EBIT ¹	49.82	63.73	54.59	55.19	45.8	73.11	74.95	75.95
Operating Margin	9.94%	11.01%	10.88%	11.04%	8.32%	11.27%	10.85%	10.57%
Earnings before Tax (EBT) ¹	48.5	62.65	53.21	54.58	43.35	69.32	72.4	74.4
Net income ¹	38.54	48.58	39.48	39.89	33.15	51.99	54.45	56.05
Net margin	7.69%	8.4%	7.87%	7.98%	6.03%	8.02%	7.88%	7.8%
EPS ²	0.1241	0.1565	0.1276	0.1297	0.1078	0.1690	0.1770	0.1820
Free Cash Flow	19.52	29.02	-	-	-	-	-	-
FCF margin	3.9%	5.01%	-	-	-	-	-	-
FCF Conversion (EBITDA)	32.62%	38.21%	-	-	-	-	-	-
FCF Conversion (Net income)	50.66%	59.73%	-	-	-	-	-	-
Dividend per Share ²	0.0500	0.0640	0.0540	0.0500	0.0400	0.0650	0.0693	0.0717
Announcement Date	2/26/19	2/25/20	3/19/21	2/25/22	2/27/23	2/26/24	-	-

¹MYR in Million²MYR

Estimates

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net Debt	-	-	-	6.67	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	0.1035 x	-	-	-	-
Free Cash Flow	19.5	29	-	-	-	-	-	-
ROE (net income / shareholders' equity)	12.7%	14.1%	11.3%	10.8%	8.49%	12.3%	11.5%	11%
ROA (Net income/ Total Assets)	9.2%	10.6%	8.6%	7.95%	5.3%	6.81%	6.55%	6.55%
Assets ¹	418.9	457	458.9	501.5	624.9	763.1	831.3	855.7
Book Value Per Share ²	-	-	1.160	1.240	-	1.430	1.600	1.700
Cash Flow per Share	-	-	-	-	-	-	-	-
Capex ¹	24.3	18.9	0.76	15.5	10.9	15	15	15
Capex / Sales	4.85%	3.27%	0.15%	3.1%	1.97%	2.4%	2.17%	2.09%
Announcement Date	2/26/19	2/25/20	3/19/21	2/25/22	2/27/23	2/26/24	-	-

¹MYR in Million²MYR

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

D+

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

1.71 MYR

Average target price

2.007 MYR

Spread / Average Target

+17.35%

	1st Jan change	Capi.
JOHORE TIN	+14.00%	110M
INNER MONGOLIA YILI INDUSTRIAL GROUP CO., LTD.	+4.71%	24.52B
CHINA MENGNIU DAIRY COMPANY LIMITED	-22.38%	8.1B
WANT WANT CHINA HOLDINGS LIMITED	-4.45%	6.82B
NESTLÉ (MALAYSIA)	+8.16%	6.26B
VIETNAM DAIRY PRODUCTS	-3.85%	5.36B
EMMI AG	-3.40%	5.16B
CHINA FEIHE LIMITED	-0.23%	5.02B
GLANBIA PLC	+20.72%	4.98B
HEBEI YANGYUAN ZHIHUI BEVERAGE CO., LTD.	+22.01%	4.53B