Financials Pact Group Holdings Ltd

Equities

PGH

AU000000PGH3

Non-Paper Containers & Packaging

Market Closed - Australian S.E. Other stock markets 02:10:43 2024-04-26 am EDT			5-day change	1st Jan Change
0.85 ^AUD	+0.59%		0.00%	-0.58%

Apr. 07	Australian Takeover Panel Declines to Conduct Proceedings Over Bennamon Industries' Bid for Pact Group	MT
Apr. 03	Australia's Takeovers Panel Accepts Bennamon Undertakings in Relation to Its Takeover Bid for Pact Group	MT

Valuation

Fiscal Period: June	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	959.7	753.3	1,273	621.4	227.2	292.6	-	-
Enterprise Value (EV) ¹	1,643	1,822	1,273	1,182	813.2	292.6	292.6	292.6
P/E ratio	-3.27 x	8.52 x	14.6 x	51.6 x	-34.7 x	3.24 x	4.87 x	4.94 x
Yield	-	1.37%	2.97%	2.77%	-	-	8.91%	11%
Capitalization / Revenue	0.52 x	0.42 x	0.72 x	0.34 x	0.12 x	0.16 x	0.16 x	0.16 x
EV / Revenue	0.52 x	0.42 x	0.72 x	0.34 x	0.12 x	0.16 x	0.16 x	0.16 x
EV / EBITDA	4.16 x	2.5 x	4.04 x	2.14 x	0.82 x	1.05 x	1.06 x	1.08 x
EV / FCF	24.5 x	6.51 x	8.92 x	7.37 x	4.03 x	5.42 x	3.75 x	3.85 x
FCF Yield	4.09%	15.4%	11.2%	13.6%	24.8%	18.5%	26.7%	26%
Price to Book	2.98 x	2.02 x	2.95 x	1.47 x	0.56 x	0.59 x	0.55 x	0.52 x
Nbr of stocks (in thousands)	343,994	343,994	343,994	344,290	344,290	344,290	-	-
Reference price ²	2.790	2.190	3.700	1.805	0.6600	0.8500	0.8500	0.8500
Announcement Date	8/13/19	8/18/20	8/17/21	8/16/22	8/15/23	-	-	-

¹AUD in Million²AUD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: June	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	1,834	1,809	1,762	1,838	1,949	1,852	1,780	1,790
EBITDA ¹	230.7	301.8	314.9	289.8	277	280	277.1	271.1
EBIT ¹	148.4	166.3	182.9	156.2	145.3	147.8	147.8	146.3
Operating Margin	8.09%	9.19%	10.38%	8.5%	7.46%	7.98%	8.31%	8.17%
Earnings before Tax (EBT)	-313.9	110	123.3	-	-	-	79.68	79.15
Net income ¹	-289.6	88.85	87.5	12.2	-6.6	88.44	60.98	60.81
Net margin	-15.79%	4.91%	4.97%	0.66%	-0.34%	4.78%	3.43%	3.4%
EPS ²	-0.8530	0.2570	0.2530	0.0350	-0.0190	0.2620	0.1746	0.1720
Free Cash Flow ¹	39.23	115.7	142.8	84.28	56.4	54	78	76
FCF margin	2.14%	6.39%	8.1%	4.59%	2.89%	2.92%	4.38%	4.25%
FCF Conversion (EBITDA)	17%	38.32%	45.33%	29.08%	20.36%	19.29%	28.15%	28.04%
FCF Conversion (Net income)	-	130.17%	163.14%	690.8%	-	61.06%	127.91%	124.99%
Dividend per Share ²	-	0.0300	0.1100	0.0500	-	-	0.0758	0.0931
Announcement Date	8/13/19	8/18/20	8/17/21	8/16/22	8/15/23	-	-	-

¹AUD in Million²AUD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: June	2020 S1	2020 S2	2021 S1	2022 S1	2023 S1
Net sales	885.1	924	894.4	-	-
EBITDA	145.4	156.4	164.2	-	-
EBIT	78.64	87.62	98.6	-	-
Operating Margin	8.88%	9.48%	11.02%	-	-
Earnings before Tax (EBT)	-	-	-	-	-
Net income ¹	34.78	-	-	-21	24
Net margin	3.93%	-	-	-	-
EPS	0.1010	-	-	-	-
Dividend per Share	-	0.0300	5.000	-	-
Announcement Date	2/18/20	8/18/20	2/16/21	2/15/22	2/14/23

¹AUD in Million

Estimates

Balance Sheet Analysis

Fiscal Period: June	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	684	1,068	-	561	586	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	2.963 x	3.54 x	-	1.935 x	2.116 x	-	-	-
Free Cash Flow ¹	39.2	116	143	84.3	56.4	54	78	76
ROE (net income / shareholders' equity)	17.1%	21.1%	23.2%	16.4%	10.8%	10.5%	10.9%	10.1%
ROA (Net income/ Total Assets)	4.45%	4.08%	4.67%	3.46%	2.16%	8.08%	8.12%	8.06%
Assets ¹	-6,504	2,179	1,873	353.1	-305.3	1,095	751	754.4
Book Value Per Share ²	0.9400	1.080	1.260	1.230	1.190	1.440	1.550	1.650
Cash Flow per Share	0.3200	0.5600	0.6400	0.5000	0.5400	-	-	-
Capex ¹	69.5	76.5	78.3	90.3	130	106	107	107
Capex / Sales	3.79%	4.23%	4.44%	4.91%	6.67%	5.72%	6%	6%
Announcement Date	8/13/19	8/18/20	8/17/21	8/16/22	8/15/23	-	-	-

¹AUD in Million²AUD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Pact Group Holdings Ltd

Trading Rating

Investor Rating

ESG Refinitiv

C+

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

0.85 AUD

Average target price

1.54 AUD

Spread / Average Target

+81.18%

Consensus

EPS Revisions

Estimates Revisions

Annual profits - Rate of surprise

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