Financials MPC Container Ships ASA

Equities

MPCC

NO0010791353

Marine Freight & Logistics

Market Closed - Oslo Bors Other stock markets 10:45:00 2024-04-26 am EDT			5-day change	1st Jan Change
17.26 ^NOK	+5.89%		+29.34%	+29.53%

Apr. 25	MPC Container Ships Obtains $55 Million Loan for Two Vessels	MT
Mar. 21	MPC Container Ships ASA(OB:MPCC) added to Oslo OBX Total Return Index	CI

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	188.5	291.9	1,237	735.9	581.6	693.4	-	-
Enterprise Value (EV) ¹	427.9	541.1	1,288	763.9	585.5	766.1	706.1	702.4
P/E ratio	-4.78 x	-2.74 x	6.06 x	1.69 x	1.8 x	3.54 x	11.6 x	-29.4 x
Yield	-	-	11.9%	39.2%	48.8%	20.1%	5.54%	0.86%
Capitalization / Revenue	1.02 x	1.7 x	3.21 x	1.19 x	0.82 x	1.5 x	1.96 x	2.61 x
EV / Revenue	2.32 x	3.15 x	3.35 x	1.24 x	0.82 x	1.65 x	2 x	2.65 x
EV / EBITDA	19.3 x	33.5 x	4.44 x	1.69 x	1.37 x	2.66 x	4.49 x	9.7 x
EV / FCF	-11.6 x	-20 x	7.63 x	2.06 x	2.52 x	7.82 x	7.59 x	48.4 x
FCF Yield	-8.61%	-5%	13.1%	48.5%	39.6%	12.8%	13.2%	2.06%
Price to Book	0.46 x	0.77 x	1.7 x	1.02 x	0.78 x	0.91 x	0.91 x	0.89 x
Nbr of stocks (in thousands)	83,902	393,905	443,700	443,700	443,700	443,700	-	-
Reference price ²	2.246	0.7411	2.788	1.659	1.311	1.563	1.563	1.563
Announcement Date	2/28/20	2/25/21	2/24/22	2/28/23	2/27/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	184.7	171.9	384.7	617	711.3	463.7	353.8	265.4
EBITDA ¹	22.12	16.16	290.4	451	428.5	287.6	157.2	72.42
EBIT ¹	-17.94	-42.49	230.7	346.1	336.3	209.4	76.12	-11
Operating Margin	-9.71%	-24.72%	59.97%	56.09%	47.28%	45.15%	21.52%	-4.15%
Earnings before Tax (EBT) ¹	-39.66	-64.42	190.5	436.1	325.8	196.9	60.98	-22.19
Net income ¹	-39.7	-64.46	189.7	435	325.1	195.9	60.03	-23.11
Net margin	-21.49%	-37.5%	49.32%	70.5%	45.71%	42.24%	16.97%	-8.71%
EPS ²	-0.4700	-0.2700	0.4600	0.9800	0.7300	0.4415	0.1353	-0.0532
Free Cash Flow ¹	-36.82	-27.07	169	370.2	231.9	98	93	14.5
FCF margin	-19.94%	-15.75%	43.92%	59.99%	32.6%	21.13%	26.29%	5.46%
FCF Conversion (EBITDA)	-	-	58.17%	82.07%	54.12%	34.07%	59.18%	20.02%
FCF Conversion (Net income)	-	-	89.05%	85.09%	71.33%	50.03%	154.93%	-
Dividend per Share ²	-	-	0.3316	0.6500	0.6400	0.3141	0.0866	0.0134
Announcement Date	2/28/20	2/25/21	2/24/22	2/28/23	2/27/24	-	-	-

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	2025 Q1
Net sales ¹	118.5	142.5	142.9	151.7	160.1	162	180.1	194.4	184	152.8	131.3	116.2	112.7	104.3	89
EBITDA ¹	73.6	162.7	137.7	111.8	145.8	114	141.4	142.7	140.4	101.5	87.74	72.6	69.06	57.78	44
EBIT ¹	58.8	144.6	119.3	92.94	127.8	89.28	121.8	103.7	71.8	38.72	69.26	54.12	49.08	36.8	25
Operating Margin	49.62%	101.44%	83.45%	61.27%	79.82%	55.11%	67.62%	53.38%	39.03%	25.34%	52.77%	46.59%	43.53%	35.29%	28.09%
Earnings before Tax (EBT) ¹	46.58	128.4	116.9	90.38	124.6	104.3	119.7	101.5	68.33	36.18	66.7	51.45	45.62	33.22	21
Net income ¹	46.42	127.8	116.7	90.11	124.4	104	119.6	101.5	68.21	35.7	66.44	51.2	45.37	32.98	21
Net margin	39.17%	89.72%	81.62%	59.4%	77.75%	64.2%	66.41%	52.22%	37.08%	23.36%	50.62%	44.07%	40.24%	31.63%	23.6%
EPS ²	0.1100	0.2900	0.2600	0.2000	0.2800	0.2300	0.2700	0.2300	0.1500	0.0800	0.1520	0.1140	0.1038	0.0739	0.0500
Dividend per Share ²	-	0.3316	0.1600	0.1500	0.1900	0.1500	0.1500	0.1500	0.1400	0.1300	0.1093	0.0829	0.0836	0.0386	0.0300
Announcement Date	11/18/21	2/24/22	5/19/22	8/17/22	11/17/22	2/28/23	5/23/23	8/22/23	11/21/23	2/27/24	-	-	-	-	-

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	239	249	51.5	28.1	3.93	72.7	12.7	9
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	10.82 x	15.42 x	0.1773 x	0.0622 x	0.009174 x	0.2527 x	0.0808 x	0.1243 x
Free Cash Flow ¹	-36.8	-27.1	169	370	232	98	93	14.5
ROE (net income / shareholders' equity)	-9.2%	-16.3%	34.3%	50.4%	44.3%	25.8%	7.71%	-3.51%
ROA (Net income/ Total Assets)	-5.51%	-9.23%	22.2%	-	34%	19.2%	1.9%	-7.7%
Assets ¹	720.1	698.1	855.8	-	955.9	1,020	3,159	300.1
Book Value Per Share ²	4.850	0.9700	1.640	1.620	1.690	1.720	1.720	1.760
Cash Flow per Share	-	-	-	-	-	-	-	-
Capex ¹	61.3	43.6	41.1	66.3	253	180	21.5	34.5
Capex / Sales	33.2%	25.35%	10.68%	10.75%	35.53%	38.82%	6.08%	13%
Announcement Date	2/28/20	2/25/21	2/24/22	2/28/23	2/27/24	-	-	-

¹USD in Million²USD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for MPC Container Ships ASA

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

1.563 USD

Average target price

1.274 USD

Spread / Average Target

-18.50%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Deep Sea Freight

	1st Jan change	Capi.
MPC CONTAINER SHIPS ASA	+29.53%	693M
EVERGREEN MARINE CORPORATION (TAIWAN) LTD.	+30.31%	12.25B
WALLENIUS WILHELMSEN ASA	+21.24%	4.13B
COMPAÑÍA SUD AMERICANA DE VAPORES S.A.	+36.60%	4B
STAR BULK CARRIERS CORP.	+16.23%	2.8B
SHANGHAI JINJIANG SHIPPING (GROUP) CO., LTD.	-15.05%	1.89B
COSCO SHIPPING SPECIALIZED CARRIERS CO.,LTD.	+18.10%	1.88B
HÖEGH AUTOLINERS ASA	+16.21%	1.85B
GULF NAVIGATION HOLDING	+0.95%	1.66B
WISDOM MARINE LINES CO., LIMITED (CAYMAN)	+32.12%	1.57B

Deep Sea Freight