Financials Union Bancaire pour le Commerce et L'Industrie Société anonyme

Equities

End-of-day quote Tunis Other stock markets 06:00:00 2024-04-28 pm EDT			5-day change	1st Jan Change
23.65 ^TND	0.00%		-0.17%	+5.11%

Apr. 15	Union Bancaire pour le Commerce et L'Industrie Société anonyme Reports Earnings Results for the Full Year Ended December 31, 2023	CI
2023	Union Bancaire pour le Commerce et L'Industrie Société anonyme Reports Earnings Results for the Half Year Ended June 30, 2023	CI

Fiscal Period: December	2019	2021	2022	2023	2024	2025	2026
Capitalization ¹	600	396	440	450	473	-	-
Enterprise Value (EV) ¹	600	396	440	450	473	473	473
P/E ratio	10.5 x	-	7.37 x	8.43 x	9.31 x	10.6 x	9.98 x
Yield	-	3.79%	-	-	5.29%	5.29%	5.29%
Capitalization / Revenue	2.3 x	1.5 x	1.49 x	1.49 x	1.5 x	1.5 x	-
EV / Revenue	2.3 x	1.5 x	1.49 x	1.49 x	1.5 x	1.5 x	-
EV / EBITDA	-	-	-	-	-	-	-
EV / FCF	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-
Price to Book	-	-	-	-	-	-	-
Nbr of stocks (in thousands)	20,002	20,002	20,002	20,002	20,002	-	-
Reference price ²	30.00	19.80	22.00	22.50	23.65	23.65	23.65
Announcement Date	4/1/20	4/13/22	4/7/23	4/15/24	-	-	-

¹TND in Million²TND

Estimates

Fiscal Period: December	2019	2021	2022	2023	2024	2025	2026
Net sales ¹	260.9	264.4	294.9	302.9	315	316	-
EBITDA	-	-	-	-	-	-	-
EBIT ¹	-	65.27	103.8	83.13	86	75.6	-
Operating Margin	-	24.68%	35.19%	27.45%	27.3%	23.92%	-
Earnings before Tax (EBT)	-	-	-	-	-	-	-
Net income ¹	-	30.51	59.72	53.36	50.8	44.6	47.3
Net margin	-	11.54%	20.25%	17.62%	16.13%	14.11%	-
EPS ²	2.870	-	2.986	2.668	2.540	2.230	2.370
Free Cash Flow	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-
Dividend per Share ²	-	0.7500	-	-	1.250	1.250	1.250
Announcement Date	4/1/20	4/13/22	4/7/23	4/15/24	-	-	-

¹TND in Million²TND

Estimates

Fiscal Period: December	2019	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	-	6.73%	12.5%	-	9.36%	7.89%	8.07%
ROA (Net income/ Total Assets)	-	-	-	-	-	-	-
Assets ¹	-	-	-	-	-	-	-
Book Value Per Share	-	-	-	-	-	-	-
Cash Flow per Share	-	-	-	-	-	-	-
Capex	-	-	-	-	-	-	-
Capex / Sales	-	-	-	-	-	-	-
Announcement Date	4/1/20	4/13/22	4/7/23	4/15/24	-	-	-

¹TND in Million

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

UNDERPERFORM

Number of Analysts

Last Close Price

23.65 TND

Average target price

25.3 TND

Spread / Average Target

+6.98%

	1st Jan change	Capi.
UNION BANCAIRE POUR LE COMMERCE ET L'INDUSTRIE SOCIÉTÉ ANONYME	+5.11%	151M
AGRICULTURAL BANK OF CHINA LIMITED	+16.61%	208B
PT BANK CENTRAL ASIA TBK	+4.26%	74.42B
ANZ GROUP HOLDINGS LIMITED	+8.64%	55.3B
INDUSTRIAL BANK CO., LTD.	+3.27%	48.03B
CRÉDIT AGRICOLE S.A.	+13.37%	47.15B
CHINA CITIC BANK CO., LTD.	+25.00%	45B
JAPAN POST BANK CO., LTD.	+11.66%	36.77B
QATAR NATIONAL BANK (Q.P.S.C.)	-16.09%	35.19B
INVEST BANK	-96.60%	32.25B