Financials Energoprojekt Holding a.d.

Equities

ENHL

RSHOLDE58279

Construction & Engineering

End-of-day quote Belgrade S.E. 06:00:00 2024-04-29 pm EDT 5-day change 1st Jan Change
375 RSD -6.02% Intraday chart for Energoprojekt Holding a.d. -6.02% +7.14%

Valuation

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Capitalization 1 10,834 7,237 7,259 4,333 3,380 3,532
Enterprise Value (EV) 1 15,608 12,412 10,069 5,238 4,044 2,470
P/E ratio 19 x 15.4 x 12.4 x 3.92 x 6.16 x -108 x
Yield - - - - - -
Capitalization / Revenue 0.33 x 0.32 x 0.28 x 0.17 x 0.16 x 0.25 x
EV / Revenue 0.48 x 0.54 x 0.38 x 0.2 x 0.2 x 0.17 x
EV / EBITDA 8.65 x 15.1 x 7.72 x 2.76 x 2.74 x 8.6 x
EV / FCF -3.45 x -15.7 x 6.24 x 7.01 x -3.62 x 2.1 x
FCF Yield -29% -6.38% 16% 14.3% -27.7% 47.6%
Price to Book 0.56 x 0.37 x 0.37 x 0.24 x 0.18 x 0.18 x
Nbr of stocks (in thousands) 10,834 10,834 10,834 10,834 10,834 10,834
Reference price 2 1,000 668.0 670.0 400.0 312.0 326.0
Announcement Date 4/30/18 4/30/19 5/14/20 4/29/21 5/4/22 5/4/23
1RSD in Million2RSD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Net sales 1 32,708 22,825 26,287 26,006 20,538 14,319
EBITDA 1 1,804 821.5 1,305 1,895 1,474 287.2
EBIT 1 974.2 158.1 760.7 1,420 1,045 -242.7
Operating Margin 2.98% 0.69% 2.89% 5.46% 5.09% -1.7%
Earnings before Tax (EBT) 1 737 1,071 785.1 1,390 1,232 266.4
Net income 1 569.5 471.4 585.4 1,105 548.9 -32.66
Net margin 1.74% 2.07% 2.23% 4.25% 2.67% -0.23%
EPS 2 52.51 43.51 54.04 102.0 50.67 -3.015
Free Cash Flow 1 -4,525 -791.4 1,613 747.1 -1,118 1,175
FCF margin -13.83% -3.47% 6.14% 2.87% -5.44% 8.21%
FCF Conversion (EBITDA) - - 123.63% 39.44% - 409.1%
FCF Conversion (Net income) - - 275.56% 67.61% - -
Dividend per Share - - - - - -
Announcement Date 4/30/18 4/30/19 5/14/20 4/29/21 5/4/22 5/4/23
1RSD in Million2RSD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Net Debt 1 4,775 5,175 2,810 904 664 -
Net Cash position 1 - - - - - 1,062
Leverage (Debt/EBITDA) 2.647 x 6.3 x 2.153 x 0.4774 x 0.4503 x -
Free Cash Flow 1 -4,525 -791 1,613 747 -1,118 1,175
ROE (net income / shareholders' equity) 2.64% 4.06% 3.16% 5.74% 4.37% 0.29%
ROA (Net income/ Total Assets) 1.37% 0.24% 1.22% 2.47% 1.87% -0.42%
Assets 1 41,637 193,360 47,902 44,752 29,368 7,709
Book Value Per Share 2 1,782 1,817 1,799 1,637 1,766 1,782
Cash Flow per Share 2 273.0 192.0 227.0 269.0 203.0 448.0
Capex 1 491 119 118 93.2 311 478
Capex / Sales 1.5% 0.52% 0.45% 0.36% 1.51% 3.34%
Announcement Date 4/30/18 4/30/19 5/14/20 4/29/21 5/4/22 5/4/23
1RSD in Million2RSD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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