Financials Sarawak Plantation

Equities

End-of-day quote BURSA MALAYSIA Other stock markets 06:00:00 2024-04-25 pm EDT			5-day change	1st Jan Change
2.2 ^MYR	+1.38%		-1.35%	+4.76%

Apr. 16	Sarawak Plantation Berhad Reports Production Results for the Month of March 2024	CI
Mar. 06	Sarawak Plantation Berhad Reports Production Results for the Month of February 2024	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025
Capitalization ¹	586	627.8	692	588.8	586	613.9	-
Enterprise Value (EV) ¹	586	627.8	692	588.8	471.4	613.9	613.9
P/E ratio	28 x	10.3 x	5.41 x	6.09 x	9.09 x	9.84 x	8.82 x
Yield	2.38%	4.44%	4.03%	7.11%	4.76%	4.77%	5.3%
Capitalization / Revenue	1.69 x	1.35 x	0.88 x	0.83 x	1.03 x	1.1 x	1.07 x
EV / Revenue	1.69 x	1.35 x	0.88 x	0.83 x	1.03 x	1.1 x	1.07 x
EV / EBITDA	11.6 x	6.46 x	3.68 x	3.26 x	4.68 x	5.06 x	5.06 x
EV / FCF	-	-	-	-	8.76 x	8.97 x	8.92 x
FCF Yield	-	-	-	-	11.4%	11.1%	11.2%
Price to Book	1.06 x	1.08 x	1.03 x	0.83 x	0.78 x	0.79 x	0.78 x
Nbr of stocks (in thousands)	279,032	279,032	279,032	279,032	279,032	279,032	-
Reference price ²	2.100	2.250	2.480	2.110	2.100	2.200	2.200
Announcement Date	2/18/20	2/19/21	2/23/22	2/21/23	2/26/24	-	-

¹MYR in Million²MYR

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025
Net sales ¹	347.5	465.8	790.5	710.9	570.7	555.7	574.3
EBITDA ¹	50.54	97.18	188.2	180.8	125.2	121.4	121.3
EBIT ¹	25.06	67.23	147	138.9	82.92	86.7	83.23
Operating Margin	7.21%	14.44%	18.6%	19.54%	14.53%	15.6%	14.49%
Earnings before Tax (EBT) ¹	28.41	83.05	168.4	134.2	87.44	82.3	89.78
Net income ¹	20.92	61	127.8	96.71	64.44	62.02	70.52
Net margin	6.02%	13.1%	16.17%	13.6%	11.29%	11.16%	12.28%
EPS ²	0.0750	0.2186	0.4581	0.3466	0.2310	0.2237	0.2495
Free Cash Flow ¹	-	-	-	-	66.88	68.4	68.8
FCF margin	-	-	-	-	11.72%	12.31%	11.98%
FCF Conversion (EBITDA)	-	-	-	-	53.44%	56.36%	56.7%
FCF Conversion (Net income)	-	-	-	-	103.79%	110.29%	97.56%
Dividend per Share ²	0.0500	0.1000	0.1000	0.1500	0.1000	0.1050	0.1167
Announcement Date	2/18/20	2/19/21	2/23/22	2/21/23	2/26/24	-	-

¹MYR in Million²MYR

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025
Net Debt	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	115	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-
Free Cash Flow ¹	-	-	-	-	66.9	68.4	68.8
ROE (net income / shareholders' equity)	2.96%	10.7%	20.4%	14%	8.82%	8.16%	8.57%
ROA (Net income/ Total Assets)	1.92%	7.13%	13.8%	10%	6.76%	9.65%	8.33%
Assets ¹	1,087	856	926.3	962.7	953.3	642.7	846.2
Book Value Per Share ²	1.980	2.090	2.400	2.550	2.680	2.780	2.810
Cash Flow per Share	-	-	-	-	-	-	-
Capex ¹	-	30.5	-	-	14.4	40.9	29.3
Capex / Sales	-	6.55%	-	-	2.52%	7.35%	5.1%
Announcement Date	2/18/20	2/19/21	2/23/22	2/21/23	2/26/24	-	-

¹MYR in Million²MYR

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

D+

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

2.2 MYR

Average target price

2.152 MYR

Spread / Average Target

-2.18%