Financials Winfarm

Equities

Market Closed - Euronext Paris Other stock markets 09:35:07 2024-04-26 am EDT			5-day change	1st Jan Change
4.92 ^EUR	-0.20%		-0.81%	-22.88%

Feb. 01	WINFARM Announces Unaudited Revenue Results for Fourth Quarter and Full Year 2023	CI
2023	WINFARM Société anonyme Reports Unaudited Consolidated Revenue Results for the Third Quarter and Nine Months of 2023	CI

Fiscal Period: December	2020	2021	2022	2023	2024	2025
Capitalization ¹	67.22	60.66	30.03	9.848	9.848	-
Enterprise Value (EV) ¹	68.31	70.23	53.01	12.77	38.51	30.55
P/E ratio	137 x	43.5 x	46.3 x	48.9 x	9.64 x	2.07 x
Yield	-	-	-	-	14.2%	-
Capitalization / Revenue	0.68 x	0.56 x	0.23 x	0.09 x	0.07 x	0.06 x
EV / Revenue	0.69 x	0.65 x	0.4 x	0.09 x	0.26 x	0.19 x
EV / EBITDA	25.2 x	14.3 x	11.8 x	5.55 x	5.97 x	2.83 x
EV / FCF	-	-	-10.1 x	-5.94 x	8.02 x	3.43 x
FCF Yield	-	-	-9.86%	-16.8%	12.5%	29.1%
Price to Book	3.32 x	2.67 x	1.3 x	0.41 x	0.47 x	-
Nbr of stocks (in thousands)	1,937	2,002	2,002	2,002	2,002	-
Reference price ²	34.70	30.30	15.00	4.920	4.920	4.920
Announcement Date	4/30/21	4/15/22	3/30/23	3/28/24	-	-

¹EUR in Million²EUR

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025
Net sales ¹	86.8	98.87	108.1	130.9	137.4	147.3	162
EBITDA ¹	-	2.709	4.896	4.5	2.3	6.452	10.8
EBIT ¹	-	0.651	2.163	1.116	-2.5	1.692	6.3
Operating Margin	-	0.66%	2%	0.85%	-1.82%	1.15%	3.89%
Earnings before Tax (EBT) ¹	-	0.529	2.053	0.927	1.225	1.184	-
Net income ¹	-	0.491	1.393	0.6	-3	1.001	4.7
Net margin	-	0.5%	1.29%	0.46%	-2.18%	0.68%	2.9%
EPS ²	-6.346	0.2534	0.6959	0.3243	0.1005	0.5106	2.380
Free Cash Flow ¹	-	-	-	-5.229	-6	4.8	8.9
FCF margin	-	-	-	-3.99%	-4.19%	3.26%	5.49%
FCF Conversion (EBITDA)	-	-	-	-	-	74.39%	82.41%
FCF Conversion (Net income)	-	-	-	-	-	479.42%	189.36%
Dividend per Share ²	-	-	-	-	-	0.7000	-
Announcement Date	10/9/20	4/30/21	4/15/22	3/30/23	3/28/24	-	-

¹EUR in Million²EUR

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025
Net Debt ¹	-	1.09	9.57	23	25.8	28.7	20.7
Net Cash position ¹	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	0.4009 x	1.954 x	5.109 x	5.581 x	4.442 x	1.917 x
Free Cash Flow ¹	-	-	-	-5.23	-6	4.8	8.9
ROE (net income / shareholders' equity)	-	5.54%	6.48%	2.83%	3.96%	4.86%	18.3%
ROA (Net income/ Total Assets)	-	-	-	-	-	-	-
Assets ¹	-	-	-	-	-	-	-
Book Value Per Share ²	-	10.50	11.40	11.60	12.00	10.40	-
Cash Flow per Share ²	-	0.7000	1.070	2.050	1.620	2.540	4.600
Capex ¹	-	-	-	9.34	6.9	0.7	0.8
Capex / Sales	-	-	-	7.13%	4.82%	0.48%	0.49%
Announcement Date	10/9/20	4/30/21	4/15/22	3/30/23	3/28/24	-	-

¹EUR in Million²EUR

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

4.92 EUR

Average target price

9.65 EUR

Spread / Average Target

+96.14%

	1st Jan change	Capi.
WINFARM	-22.88%	10.51M
KWS SAAT SE & CO. KGAA	-11.82%	1.66B
DONG SUH COMPANIES INC.	+3.85%	1.35B
ZHONGNONGFA SEED INDUSTRY GROUP CO., LTD.	-10.34%	998M
SHENZHEN CEREALS HOLDINGS CO.,LTD	-15.38%	991M
MOLINOS AGRO S.A.	-9.65%	975M
BAYWA AG	-17.09%	877M
KERNEL HOLDING S.A.	+10.38%	732M
XI'AN TOURISM CO., LTD.	-2.24%	441M
CHONGQING HONGJIU FRUIT CO., LIMITED	-66.86%	357M