Financials Airtel Malawi Plc

Equities

AIRTEL

MWAIRT001156

Wireless Telecommunications Services

End-of-day quote Malawi S.E. 06:00:00 2024-06-05 pm EDT 5-day change 1st Jan Change
51.12 MWK 0.00% Intraday chart for Airtel Malawi Plc -0.18% -14.80%

Valuation

Fiscal Period: December 2020 2021 2022 2023
Capitalization 1 307,780 440,000 623,040 660,000
Enterprise Value (EV) 1 348,269 465,393 641,052 750,553
P/E ratio 13.9 x 13.6 x 16.9 x 468 x
Yield 7.51% 7.38% 4.41% 1.63%
Capitalization / Revenue 2.79 x 3.34 x 4.06 x 3.4 x
EV / Revenue 3.16 x 3.53 x 4.18 x 3.87 x
EV / EBITDA 7.35 x 7.53 x 8.44 x 8.72 x
EV / FCF 20.2 x 10.1 x 10.1 x 15.9 x
FCF Yield 4.94% 9.87% 9.93% 6.3%
Price to Book 12.8 x 13.2 x 16.5 x 56.4 x
Nbr of stocks (in thousands) 11,000,000 11,000,000 11,000,000 11,000,000
Reference price 2 27.98 40.00 56.64 60.00
Announcement Date 7/6/21 4/21/22 5/17/24 5/17/24
1MWK in Million2MWK
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 92,922 92,824 110,233 131,769 153,464 193,999
EBITDA 1 37,237 37,179 47,384 61,781 75,912 86,061
EBIT 1 28,517 27,589 36,319 51,127 65,097 72,762
Operating Margin 30.69% 29.72% 32.95% 38.8% 42.42% 37.51%
Earnings before Tax (EBT) 1 10,051 25,231 31,739 46,217 52,765 2,274
Net income 1 2,310 15,908 22,093 32,335 36,925 1,409
Net margin 2.49% 17.14% 20.04% 24.54% 24.06% 0.73%
EPS 2 0.2100 1.446 2.008 2.940 3.357 0.1281
Free Cash Flow 1 37,779 8,495 17,221 45,913 63,652 47,263
FCF margin 40.66% 9.15% 15.62% 34.84% 41.48% 24.36%
FCF Conversion (EBITDA) 101.46% 22.85% 36.34% 74.32% 83.85% 54.92%
FCF Conversion (Net income) 1,635.51% 53.4% 77.95% 141.99% 172.38% 3,354.36%
Dividend per Share - 1.250 2.100 2.950 2.500 0.9770
Announcement Date 7/17/20 7/17/20 7/6/21 4/21/22 5/17/24 5/17/24
1MWK in Million2MWK
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 40,916 41,193 40,489 25,393 18,012 90,553
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 1.099 x 1.108 x 0.8545 x 0.411 x 0.2373 x 1.052 x
Free Cash Flow 1 37,779 8,495 17,221 45,913 63,652 47,263
ROE (net income / shareholders' equity) 17% 163% 111% 113% 104% 5.69%
ROA (Net income/ Total Assets) 13.7% 16.1% 18% 21.4% 22.8% 20.3%
Assets 1 16,874 98,937 122,702 150,985 162,023 6,957
Book Value Per Share 2 0.3500 1.430 2.190 3.030 3.440 1.060
Cash Flow per Share 2 0.2300 0.5200 1.580 3.500 5.370 3.840
Capex 1 26,608 29,148 19,307 8,504 15,831 17,241
Capex / Sales 28.64% 31.4% 17.51% 6.45% 10.32% 8.89%
Announcement Date 7/17/20 7/17/20 7/6/21 4/21/22 5/17/24 5/17/24
1MWK in Million2MWK
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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