Financials Sygnity S.A.

Equities

Market Closed - Warsaw S.E. Other stock markets 11:55:41 2024-04-30 am EDT			5-day change	1st Jan Change
65 ^PLN	-.--%		+4.84%	+55.50%

Mar. 21	Sygnity S.A. Reports Earnings Results for the Fifteen Months Ended December 31, 2023	CI
Mar. 01	Sygnity S.A. entered into an sale agreement to acquire Sagra Technology Sp. Z O.o for PLN 42.3 million.	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	57.32	204.9	200.7	492.9	950.7	1,477	-	-
Enterprise Value (EV) ¹	57.32	215.4	243.3	504.7	914.1	1,414	1,369	1,477
P/E ratio	3.39 x	7.04 x	-	-	-	-	-	-
Yield	-	-	-	-	-	-	-	-
Capitalization / Revenue	-	0.89 x	0.98 x	2.33 x	4.22 x	5.19 x	4.7 x	4.35 x
EV / Revenue	-	0.94 x	1.19 x	2.39 x	4.06 x	4.97 x	4.35 x	4.35 x
EV / EBITDA	-	4.06 x	3.99 x	13.9 x	19.1 x	23.2 x	19.9 x	19.4 x
EV / FCF	-	4.28 x	12.8 x	12.1 x	15.9 x	36.8 x	30.4 x	29.5 x
FCF Yield	-	23.3%	7.78%	8.24%	6.28%	2.72%	3.29%	3.39%
Price to Book	-	2.17 x	-	-	-	-	-	-
Nbr of stocks (in thousands)	22,567	22,567	22,654	22,713	22,744	22,724	-	-
Reference price ²	2.540	9.080	8.860	21.70	41.80	65.00	65.00	65.00
Announcement Date	12/18/19	12/17/20	12/16/21	12/14/22	11/15/23	-	-	-

¹PLN in Million²PLN

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	-	230	204.1	211.6	225.4	284.6	314.6	339.3
EBITDA ¹	-	53.04	60.99	36.19	47.87	60.9	68.9	76.2
EBIT ¹	-	36.88	49.17	25.43	37.86	50.5	58.7	65.7
Operating Margin	-	16.04%	24.1%	12.02%	16.8%	17.74%	18.66%	19.36%
Earnings before Tax (EBT)	-	29.8	52.32	23.01	37.16	-	-	-
Net income ¹	15.93	29.21	46.56	26.97	29.73	39.3	-	-
Net margin	-	12.7%	22.82%	12.74%	13.19%	13.81%	-	-
EPS	0.7500	1.290	-	-	-	-	-	-
Free Cash Flow ¹	-	50.28	18.94	41.58	57.45	38.4	45	50.1
FCF margin	-	21.86%	9.28%	19.65%	25.49%	13.49%	14.3%	14.77%
FCF Conversion (EBITDA)	-	94.8%	31.05%	114.91%	120.01%	63.05%	65.31%	65.75%
FCF Conversion (Net income)	-	172.12%	40.67%	154.21%	193.2%	97.71%	-	-
Dividend per Share	-	-	-	-	-	-	-	-
Announcement Date	12/18/19	12/17/20	12/16/21	12/14/22	11/15/23	-	-	-

¹PLN in Million

Estimates

Fiscal Period: December	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 S1	2023 Q3	2023 Q4
Net sales ¹	50.51	49.77	-	54.38	-	54	52.1	61.88	-	51.28	59.23
EBITDA ¹	10.89	11.04	-	10.86	-	9.206	7.31	16.22	-	8.785	14
EBIT ¹	8.138	8.237	9.616	8.203	-	6.501	4.554	13.86	-	6.15	11.64
Operating Margin	16.11%	16.55%	-	15.09%	-	12.04%	8.74%	22.4%	-	11.99%	19.65%
Earnings before Tax (EBT) ¹	7.091	-	-	7.213	-	-	-	13.3	-	-	11.39
Net income ¹	6.638	-	-	6.021	11.18	-	-	10.66	15.6	-	9.026
Net margin	13.14%	-	-	11.07%	-	-	-	17.23%	-	-	15.24%
EPS	-	-	-	-	0.4900	-	-	-	0.6900	-	-
Dividend per Share	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	6/16/21	8/13/21	12/16/21	2/24/22	6/14/22	8/11/22	12/14/22	2/10/23	6/14/23	8/11/23	11/15/23

¹PLN in Million

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	10.5	42.5	11.8	-	-	-	-
Net Cash position ¹	-	-	-	-	36.6	63.4	108	-
Leverage (Debt/EBITDA)	-	0.1982 x	0.6975 x	0.3274 x	-	-	-	-
Free Cash Flow ¹	-	50.3	18.9	41.6	57.4	38.4	45	50.1
ROE (net income / shareholders' equity)	-	36.5%	-	-	-	-	-	-
ROA (Net income/ Total Assets)	-	10.3%	-	-	-	-	-	-
Assets ¹	-	284.7	-	-	-	-	-	-
Book Value Per Share	-	4.180	-	-	-	-	-	-
Cash Flow per Share	-	-	-	-	-	-	-	-
Capex ¹	-	1.68	1.27	3.14	0.74	4.9	5.4	5.8
Capex / Sales	-	0.73%	0.62%	1.48%	0.33%	1.72%	1.72%	1.71%
Announcement Date	12/18/19	12/17/20	12/16/21	12/14/22	11/15/23	-	-	-

¹PLN in Million

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

SELL

Number of Analysts

Last Close Price

65 PLN

Average target price

35.8 PLN

Spread / Average Target

-44.92%

	1st Jan change	Capi.
SYGNITY S.A.	+55.50%	365M
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