SICO CAPITAL - SICO SAUDI REIT FUND |
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|
5-day change | 1st Jan Change | ||
| 4.77 SAR | -0.63% |
|
-3.83% | +4.84% |
| Apr. 03 | SICO Capital - SICO Saudi REIT Fund Reports Earnings Results for the Full Year Ended December 31, 2023 | CI |
| Mar. 31 | SICO Saudi REIT Fund Reports Wider FY23 Loss; Total Income Down | MT |
Valuation
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Capitalization 1 | 408.7 | 464.2 | 457.9 | 490.5 | 320 | 260.4 |
| Enterprise Value (EV) 1 | 401 | 444.7 | 456.1 | 625.6 | 463 | 395.2 |
| P/E ratio | 16.6 x | - | -8.32 x | 499 x | -3.84 x | -4.99 x |
| Yield | 7.28% | - | - | 1.75% | - | - |
| Capitalization / Revenue | 10.3 x | 11.9 x | 58.5 x | 32.3 x | 8.88 x | 12.4 x |
| EV / Revenue | 10.1 x | 11.4 x | 58.3 x | 41.2 x | 12.8 x | 18.8 x |
| EV / EBITDA | 12.7 x | 14.2 x | 85.7 x | 47.6 x | 27.3 x | -302 x |
| EV / FCF | - | 13,705,610 x | 130,103,908 x | 60,076,945 x | 279,034,917 x | 26,887,812 x |
| FCF Yield | - | 0% | 0% | 0% | 0% | 0% |
| Price to Book | 0.7 x | - | 0.91 x | 0.98 x | 0.78 x | 0.73 x |
| Nbr of stocks (in thousands) | 57,240 | 57,240 | 57,240 | 57,240 | 57,240 | 57,240 |
| Reference price 2 | 7.140 | 8.110 | 8.000 | 8.570 | 5.590 | 4.550 |
| Announcement Date | 4/9/19 | 3/31/21 | 3/31/21 | 3/31/22 | 4/3/23 | 4/3/24 |
1SAR in Million2SAR
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net sales 1 | 39.62 | 38.94 | 7.829 | 15.18 | 36.05 | 21 |
| EBITDA 1 | 31.56 | 31.35 | 5.323 | 13.13 | 16.94 | -1.308 |
| EBIT 1 | 24.64 | 24.44 | -1.595 | 4.06 | 7.229 | -11.01 |
| Operating Margin | 62.19% | 62.75% | -20.38% | 26.75% | 20.05% | -52.46% |
| Earnings before Tax (EBT) 1 | 24.64 | 24.44 | -55.04 | 0.9825 | -83.39 | -52.23 |
| Net income 1 | 24.64 | 24.44 | -55.04 | 0.9825 | -83.39 | -52.23 |
| Net margin | 62.19% | 62.75% | -702.98% | 6.47% | -231.32% | -248.76% |
| EPS 2 | 0.4304 | - | -0.9615 | 0.0172 | -1.457 | -0.9125 |
| Free Cash Flow | - | 32.44 | 3.506 | 10.41 | 1.659 | 14.7 |
| FCF margin | - | 83.31% | 44.77% | 68.61% | 4.6% | 69.99% |
| FCF Conversion (EBITDA) | - | 103.48% | 65.85% | 79.3% | 9.8% | - |
| FCF Conversion (Net income) | - | 132.78% | - | 1,059.92% | - | - |
| Dividend per Share 2 | 0.5200 | - | - | 0.1500 | - | - |
| Announcement Date | 4/9/19 | 3/31/21 | 3/31/21 | 3/31/22 | 4/3/23 | 4/3/24 |
1SAR in Million2SAR
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | 135 | 143 | 135 |
| Net Cash position 1 | 7.69 | 19.5 | 1.84 | - | - | - |
| Leverage (Debt/EBITDA) | - | - | - | 10.28 x | 8.443 x | -103 x |
| Free Cash Flow | - | 32.4 | 3.51 | 10.4 | 1.66 | 14.7 |
| ROE (net income / shareholders' equity) | - | 4.22% | -10.2% | 0.2% | -18.3% | -13.6% |
| ROA (Net income/ Total Assets) | - | 2.63% | -0.18% | 0.44% | 0.73% | -1.25% |
| Assets 1 | - | 930.2 | 29,831 | 223.8 | -11,364 | 4,191 |
| Book Value Per Share 2 | 10.20 | - | 8.760 | 8.770 | 7.170 | 6.250 |
| Cash Flow per Share 2 | 0 | - | 0.0200 | 0.1900 | 0.0900 | 0.0600 |
| Capex | - | - | - | - | - | - |
| Capex / Sales | - | - | - | - | - | - |
| Announcement Date | 4/9/19 | 3/31/21 | 3/31/21 | 3/31/22 | 4/3/23 | 4/3/24 |
1SAR in Million2SAR
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Change in Enterprise Value/EBITDA
| 1st Jan change | Capi. | |
|---|---|---|
| +4.84% | 72.81M | |
| +6.70% | 700M | |
| -6.19% | 612M | |
| -9.10% | 606M | |
| -4.93% | 432M | |
| +0.51% | 428M | |
| -12.75% | 354M | |
| +2.27% | 237M | |
| +4.84% | 229M | |
| -15.15% | 201M |
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