Financials Leong Hup International

Equities

End-of-day quote BURSA MALAYSIA Other stock markets 06:00:00 2024-05-30 pm EDT			5-day change	1st Jan Change
0.56 ^MYR	+1.82%		-1.75%	-0.88%

Apr. 25	Leong Hup International Berhad Announces Single-Tier Interim Dividend for the Financial Year Ending 31 December 2024, Payable on 27 May 2024	CI
Feb. 27	Leong Hup International Berhad Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	3,212	2,500	1,916	1,807	2,062	2,044	-	-
Enterprise Value (EV) ¹	4,948	4,538	4,449	4,177	4,000	4,344	4,044	4,051
P/E ratio	20.8 x	22.1 x	22.4 x	8.25 x	6.83 x	7.57 x	7.14 x	6.83 x
Yield	1.82%	0.8%	-	-	5.31%	3.78%	4.11%	4.41%
Capitalization / Revenue	0.53 x	0.41 x	0.27 x	0.2 x	0.22 x	0.22 x	0.21 x	0.2 x
EV / Revenue	0.82 x	0.75 x	0.62 x	0.46 x	0.42 x	0.46 x	0.41 x	0.4 x
EV / EBITDA	7.61 x	8.37 x	8.3 x	5.46 x	3.83 x	4.74 x	4.24 x	4.06 x
EV / FCF	18.2 x	-74.5 x	-15.2 x	12.3 x	5.18 x	91.3 x	10.2 x	43.2 x
FCF Yield	5.49%	-1.34%	-6.58%	8.12%	19.3%	1.1%	9.81%	2.32%
Price to Book	1.91 x	1.46 x	1.06 x	0.9 x	0.92 x	0.84 x	0.77 x	0.68 x
Nbr of stocks (in thousands)	3,650,000	3,650,000	3,650,000	3,650,000	3,650,000	3,650,000	-	-
Reference price ²	0.8800	0.6850	0.5250	0.4950	0.5650	0.5600	0.5600	0.5600
Announcement Date	2/18/20	2/23/21	2/22/22	2/28/23	2/27/24	-	-	-

¹MYR in Million²MYR

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	6,055	6,041	7,154	9,043	9,540	9,424	9,812	10,157
EBITDA ¹	650.5	542	536.1	765.3	1,043	917.3	954.4	998.8
EBIT ¹	425	282.6	252.3	464	724	612.9	648.9	685.6
Operating Margin	7.02%	4.68%	3.53%	5.13%	7.59%	6.5%	6.61%	6.75%
Earnings before Tax (EBT) ¹	288.8	157.1	140.3	326.6	554.7	455	494.8	530.7
Net income ¹	150.6	113.1	85.4	218.9	301.7	283.6	309.9	330.8
Net margin	2.49%	1.87%	1.19%	2.42%	3.16%	3.01%	3.16%	3.26%
EPS ²	0.0423	0.0310	0.0234	0.0600	0.0827	0.0740	0.0784	0.0820
Free Cash Flow ¹	271.5	-60.95	-292.5	339.4	771.7	47.6	396.7	93.8
FCF margin	4.48%	-1.01%	-4.09%	3.75%	8.09%	0.51%	4.04%	0.92%
FCF Conversion (EBITDA)	41.73%	-	-	44.34%	73.96%	5.19%	41.56%	9.39%
FCF Conversion (Net income)	180.29%	-	-	155.03%	255.75%	16.78%	128.02%	28.36%
Dividend per Share ²	0.0160	0.005500	-	-	0.0300	0.0212	0.0230	0.0247
Announcement Date	2/18/20	2/23/21	2/22/22	2/28/23	2/27/24	-	-	-

¹MYR in Million²MYR

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	1,736	2,038	2,533	2,370	1,938	2,300	2,001	2,007
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	2.668 x	3.76 x	4.724 x	3.097 x	1.857 x	2.507 x	2.096 x	2.01 x
Free Cash Flow ¹	271	-60.9	-293	339	772	47.6	397	93.8
ROE (net income / shareholders' equity)	10.2%	6.75%	4.86%	11.5%	14.2%	11.4%	11.2%	10.5%
ROA (Net income/ Total Assets)	2.94%	2.04%	1.42%	3.39%	4.6%	3.67%	3.73%	3.77%
Assets ¹	5,122	5,552	6,014	6,461	6,559	7,735	8,300	8,782
Book Value Per Share ²	0.4600	0.4700	0.4900	0.5500	0.6100	0.6700	0.7300	0.8300
Cash Flow per Share	0.1800	0.1200	0.0100	-	-	-	-	-
Capex ¹	404	484	333	286	221	290	290	310
Capex / Sales	6.67%	8.01%	4.65%	3.16%	2.32%	3.08%	2.96%	3.05%
Announcement Date	2/18/20	2/23/21	2/22/22	2/28/23	2/27/24	-	-	-

¹MYR in Million²MYR

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

D+

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

0.56 MYR

Average target price

0.775 MYR

Spread / Average Target

+38.39%

	1st Jan change	Capi.
LEONG HUP INTERNATIONAL	-0.88%	434M
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