EMIRATES INTEGRATED TELECOMMUNICATIONS COMPANY Financials Emirates Integrated Telecommunications Company
Equities
DU
AEE000701012
Integrated Telecommunications Services
|
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 5.85 AED | 0.00% |
|
+4.09% | +12.72% |
| Apr. 30 | UAE Shares Close Mixed as Gaza Ceasefire Talks Proceed | MT |
| Apr. 30 | UAE-based Telco Du Resumes Trading in Dubai | MT |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 25,022 | 26,064 | 30,008 | 26,291 | 23,526 | 26,518 | - | - |
| Enterprise Value (EV) 1 | 24,377 | 26,130 | 30,417 | 26,804 | 23,526 | 27,093 | 26,916 | 27,514 |
| P/E ratio | 14.5 x | 18 x | 27.6 x | 21.5 x | 14 x | 14.2 x | 13.3 x | 12.4 x |
| Yield | 6.16% | 4.87% | 3.17% | 4.14% | - | 6.58% | 6.54% | 7.01% |
| Capitalization / Revenue | 1.99 x | 2.35 x | 2.57 x | 2.06 x | 1.73 x | 1.93 x | 1.84 x | 1.8 x |
| EV / Revenue | 1.94 x | 2.36 x | 2.6 x | 2.1 x | 1.73 x | 1.97 x | 1.87 x | 1.87 x |
| EV / EBITDA | 4.29 x | 5.8 x | 6.62 x | 5.21 x | 4.06 x | 4.52 x | 4.29 x | 4.21 x |
| EV / FCF | 12.7 x | 35.5 x | 29.4 x | 25.3 x | - | 13.4 x | 13.1 x | 12.1 x |
| FCF Yield | 7.88% | 2.82% | 3.4% | 3.95% | - | 7.45% | 7.61% | 8.25% |
| Price to Book | 2.91 x | 3.04 x | 3.52 x | 3 x | - | 2.75 x | 2.71 x | 2.64 x |
| Nbr of stocks (in thousands) | 4,532,906 | 4,532,906 | 4,532,906 | 4,532,906 | 4,532,906 | 4,532,906 | - | - |
| Reference price 2 | 5.520 | 5.750 | 6.620 | 5.800 | 5.190 | 5.850 | 5.850 | 5.850 |
| Announcement Date | 2/11/20 | 2/9/21 | 2/11/22 | 2/14/23 | 2/13/24 | - | - | - |
1AED in Million2AED
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 12,588 | 11,084 | 11,682 | 12,754 | 13,636 | 13,766 | 14,411 | 14,734 |
| EBITDA 1 | 5,684 | 4,507 | 4,592 | 5,143 | 5,800 | 5,998 | 6,280 | 6,528 |
| EBIT 1 | 3,750 | 2,616 | 2,567 | 3,031 | 3,601 | 3,811 | 3,899 | 4,080 |
| Operating Margin | 29.79% | 23.61% | 21.97% | 23.76% | 26.41% | 27.68% | 27.05% | 27.69% |
| Earnings before Tax (EBT) 1 | 3,760 | - | 1,101 | 1,220 | 1,668 | 1,894 | 2,920 | 3,056 |
| Net income 1 | 1,731 | 1,443 | 1,101 | 1,220 | 1,668 | 1,872 | 1,984 | 2,142 |
| Net margin | 13.75% | 13.02% | 9.42% | 9.56% | 12.23% | 13.6% | 13.77% | 14.54% |
| EPS 2 | 0.3800 | 0.3200 | 0.2400 | 0.2700 | 0.3700 | 0.4121 | 0.4389 | 0.4708 |
| Free Cash Flow 1 | 1,921 | 736.1 | 1,033 | 1,058 | - | 2,019 | 2,048 | 2,270 |
| FCF margin | 15.26% | 6.64% | 8.84% | 8.3% | - | 14.67% | 14.21% | 15.41% |
| FCF Conversion (EBITDA) | 33.79% | 16.33% | 22.49% | 20.58% | - | 33.66% | 32.61% | 34.78% |
| FCF Conversion (Net income) | 110.96% | 51.02% | 93.84% | 86.76% | - | 107.83% | 103.19% | 105.98% |
| Dividend per Share 2 | 0.3400 | 0.2800 | 0.2100 | 0.2400 | - | 0.3850 | 0.3825 | 0.4100 |
| Announcement Date | 2/11/20 | 2/9/21 | 2/11/22 | 2/14/23 | 2/13/24 | - | - | - |
1AED in Million2AED
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 S1 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 3,070 | 3,128 | 3,137 | - | 3,175 | 3,315 | 3,441 | 3,347 | 3,291 | 3,558 | 3,581 |
| EBITDA 1 | 1,242 | 1,269 | 1,267 | - | 1,303 | 1,304 | 1,366 | 1,517 | 1,485 | 1,430 | 1,587 |
| EBIT 1 | 702.7 | 754.9 | 753.1 | - | 783.3 | 738.9 | 852.9 | 922.1 | 932.4 | 892.7 | 1,065 |
| Operating Margin | 22.89% | 24.13% | 24.01% | - | 24.67% | 22.29% | 24.79% | 27.55% | 28.33% | 25.09% | 29.74% |
| Earnings before Tax (EBT) | - | - | - | - | - | - | - | 547.2 | - | - | - |
| Net income 1 | 320.5 | 311.2 | 297.6 | - | 319.3 | 286.2 | 370.5 | 397.2 | 503.8 | 396.4 | 602.9 |
| Net margin | 10.44% | 9.95% | 9.49% | - | 10.06% | 8.64% | 10.77% | 11.87% | 15.31% | 11.14% | 16.83% |
| EPS | - | - | - | - | - | - | 0.0800 | - | 0.1100 | 0.0900 | - |
| Dividend per Share | - | - | - | 0.1100 | - | - | - | - | - | - | - |
| Announcement Date | 2/11/22 | 4/28/22 | 7/22/22 | 7/22/22 | 11/1/22 | 2/14/23 | 5/3/23 | 7/26/23 | 10/30/23 | 2/13/24 | 4/29/24 |
1AED in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | 65.9 | 409 | 514 | - | 576 | 398 | 996 |
| Net Cash position 1 | 644 | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | - | 0.0146 x | 0.0891 x | 0.0998 x | - | 0.096 x | 0.0634 x | 0.1526 x |
| Free Cash Flow 1 | 1,921 | 736 | 1,033 | 1,058 | - | 2,019 | 2,048 | 2,270 |
| ROE (net income / shareholders' equity) | 20.2% | 16.8% | 12.9% | 14.1% | - | 19.9% | 20.6% | 21.6% |
| ROA (Net income/ Total Assets) | 10.4% | 8.83% | 6.76% | 7.34% | - | 11% | 11.3% | 12.2% |
| Assets 1 | 16,676 | 16,347 | 16,273 | 16,625 | - | 17,073 | 17,509 | 17,510 |
| Book Value Per Share 2 | 1.900 | 1.890 | 1.880 | 1.930 | - | 2.130 | 2.160 | 2.220 |
| Cash Flow per Share | - | - | - | - | - | - | - | - |
| Capex 1 | 1,351 | 2,009 | 1,998 | 2,565 | - | 2,128 | 2,166 | 2,231 |
| Capex / Sales | 10.73% | 18.13% | 17.1% | 20.11% | - | 15.45% | 15.03% | 15.14% |
| Announcement Date | 2/11/20 | 2/9/21 | 2/11/22 | 2/14/23 | 2/13/24 | - | - | - |
1AED in Million2AED
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
C+
Sell
Buy
Mean consensus
BUY
Number of Analysts
7
Last Close Price
5.85
AED
Average target price
7.049
AED
Spread / Average Target
+20.49%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +12.72% | 7.22B | |
| +7.48% | 196B | |
| +3.16% | 164B | |
| -0.41% | 116B | |
| -1.10% | 93.7B | |
| +12.30% | 71.82B | |
| +4.51% | 59.9B | |
| -7.67% | 49.58B | |
| -17.62% | 38.31B | |
| -31.58% | 38.3B |
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- Financials Emirates Integrated Telecommunications Company
