Financials Namibia Breweries Limited

Equities

NBS

NA0009114944

Brewers

End-of-day quote NAMIBIAN S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
30 ZAR 0.00% Intraday chart for Namibia Breweries Limited 0.00% -4.73%

Valuation

Fiscal Period: June 2018 2019 2020 2021 2022 2023
Capitalization 1 9,281 9,983 7,227 6,445 8,451 7,598
Enterprise Value (EV) 1 9,253 10,189 7,626 6,461 8,202 8,135
P/E ratio 23.3 x 10.7 x 27.7 x 17.3 x 15.7 x 1.49 x
Yield 2.05% 2.07% 3.03% 1.79% - -
Capitalization / Revenue 3.45 x 3.22 x 2.73 x 2.43 x 2.8 x 2.24 x
EV / Revenue 3.44 x 3.29 x 2.88 x 2.44 x 2.71 x 2.4 x
EV / EBITDA 12.1 x 12.5 x 12.7 x 8.53 x 10.2 x 14.2 x
EV / FCF 31.5 x 35.3 x 38.5 x 12.2 x -13.6 x 10.8 x
FCF Yield 3.17% 2.83% 2.6% 8.21% -7.34% 9.24%
Price to Book 5.72 x 5.11 x 4.12 x 3.38 x 3.45 x 3.61 x
Nbr of stocks (in thousands) 206,529 206,529 206,529 206,529 206,529 206,529
Reference price 2 44.94 48.34 34.99 31.20 40.92 36.79
Announcement Date 9/10/18 9/6/19 9/18/20 11/15/21 9/23/22 9/22/23
1NAD in Million2NAD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: June 2018 2019 2020 2021 2022 2023
Net sales 1 2,687 3,098 2,646 2,649 3,021 3,388
EBITDA 1 765.6 813.1 599.1 757.3 805.7 572.3
EBIT 1 610.9 649.7 451 610.3 665.1 418
Operating Margin 22.74% 20.98% 17.04% 23.04% 22.01% 12.34%
Earnings before Tax (EBT) 1 568.9 1,087 343.6 517.9 648.3 5,161
Net income 1 397.7 931.1 261.3 373.2 539.9 5,095
Net margin 14.8% 30.06% 9.88% 14.09% 17.87% 150.36%
EPS 2 1.926 4.508 1.265 1.807 2.614 24.67
Free Cash Flow 1 293.6 288.6 198.2 530.5 -602.1 751.4
FCF margin 10.93% 9.32% 7.49% 20.03% -19.93% 22.18%
FCF Conversion (EBITDA) 38.35% 35.5% 33.08% 70.04% - 131.3%
FCF Conversion (Net income) 73.82% 31% 75.84% 142.15% - 14.75%
Dividend per Share 2 0.9200 1.000 1.060 0.5600 - -
Announcement Date 9/10/18 9/6/19 9/18/20 11/15/21 9/23/22 9/22/23
1NAD in Million2NAD
Estimates

Balance Sheet Analysis

Fiscal Period: June 2018 2019 2020 2021 2022 2023
Net Debt 1 - 206 399 16.5 - 537
Net Cash position 1 28.7 - - - 249 -
Leverage (Debt/EBITDA) - 0.2535 x 0.6663 x 0.0219 x - 0.9377 x
Free Cash Flow 1 294 289 198 530 -602 751
ROE (net income / shareholders' equity) 26.3% 52% 14.1% 20.4% 22.2% 223%
ROA (Net income/ Total Assets) 14.7% 14% 9.37% 12.6% 12.2% 7.11%
Assets 1 2,711 6,669 2,788 2,967 4,427 71,634
Book Value Per Share 2 7.860 9.470 8.500 9.240 11.90 10.20
Cash Flow per Share 2 2.050 0.9300 1.200 2.920 3.640 0.4700
Capex 1 163 123 164 130 135 243
Capex / Sales 6.07% 3.98% 6.21% 4.91% 4.48% 7.18%
Announcement Date 9/10/18 9/6/19 9/18/20 11/15/21 9/23/22 9/22/23
1NAD in Million2NAD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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