TAURON POLSKA ENERGIA S.A. |
Delayed
Other stock markets
|
5-day change | 1st Jan Change | ||
| 3.287 PLN | +8.70% |
|
+12.97% | -11.81% |
| Apr. 19 | Poland's Tauron seeks to spur renewables expansion | RE |
| Apr. 19 | Transcript : TAURON Polska Energia S.A., 2023 Earnings Call, Apr 19, 2024 |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 2,874 | 4,770 | 4,651 | 3,714 | 6,544 | 5,300 | - | - |
| Enterprise Value (EV) 1 | 15,951 | 18,182 | 16,926 | 18,523 | 6,544 | 18,670 | 19,934 | 22,499 |
| P/E ratio | -164 x | -1.92 x | 14 x | -26.5 x | 3.93 x | 3.21 x | 2.47 x | - |
| Yield | - | - | - | - | - | - | - | - |
| Capitalization / Revenue | 0.15 x | 0.23 x | 0.18 x | 0.1 x | 0.15 x | 0.12 x | 0.14 x | 0.15 x |
| EV / Revenue | 0.82 x | 0.89 x | 0.66 x | 0.51 x | 0.15 x | 0.43 x | 0.51 x | 0.64 x |
| EV / EBITDA | 4.43 x | 4.49 x | 4.08 x | 4.61 x | 1.06 x | 3.72 x | 3.64 x | 4.09 x |
| EV / FCF | -7.98 x | 135 x | 8.91 x | -16.8 x | - | 28.2 x | -82.6 x | -148 x |
| FCF Yield | -12.5% | 0.74% | 11.2% | -5.96% | - | 3.55% | -1.21% | -0.67% |
| Price to Book | 0.16 x | 0.31 x | 0.28 x | 0.22 x | - | 0.33 x | 0.29 x | - |
| Nbr of stocks (in thousands) | 1,752,549 | 1,752,549 | 1,752,549 | 1,752,549 | 1,752,549 | 1,752,549 | - | - |
| Reference price 2 | 1.640 | 2.722 | 2.654 | 2.119 | 3.734 | 3.024 | 3.024 | 3.024 |
| Announcement Date | 4/1/20 | 3/31/21 | 3/31/22 | 3/29/23 | 4/18/24 | - | - | - |
1PLN in Million2PLN
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 19,558 | 20,367 | 25,614 | 36,311 | 42,657 | 43,141 | 38,992 | 35,070 |
| EBITDA 1 | 3,599 | 4,052 | 4,152 | 4,016 | 6,145 | 5,016 | 5,483 | 5,500 |
| EBIT 1 | 295.5 | -1,015 | 916 | 1,119 | 3,394 | 2,694 | 3,237 | 2,787 |
| Operating Margin | 1.51% | -4.98% | 3.58% | 3.08% | 7.96% | 6.24% | 8.3% | 7.95% |
| Earnings before Tax (EBT) 1 | -15.37 | -1,656 | 675 | 133 | 2,302 | 2,411 | 2,652 | - |
| Net income 1 | -10.91 | -2,485 | 338 | -134 | 1,673 | 1,651 | 2,030 | 1,666 |
| Net margin | -0.06% | -12.2% | 1.32% | -0.37% | 3.92% | 3.83% | 5.21% | 4.75% |
| EPS 2 | -0.0100 | -1.420 | 0.1900 | -0.0800 | 0.9500 | 0.9413 | 1.223 | - |
| Free Cash Flow 1 | -2,000 | 134.4 | 1,899 | -1,104 | - | 663 | -241.4 | -151.6 |
| FCF margin | -10.22% | 0.66% | 7.41% | -3.04% | - | 1.54% | -0.62% | -0.43% |
| FCF Conversion (EBITDA) | - | 3.32% | 45.74% | - | - | 13.22% | - | - |
| FCF Conversion (Net income) | - | - | 561.83% | - | - | 40.15% | - | - |
| Dividend per Share 2 | - | - | - | - | - | - | - | - |
| Announcement Date | 4/1/20 | 3/31/21 | 3/31/22 | 3/29/23 | 4/18/24 | - | - | - |
1PLN in Million2PLN
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 5,990 | 7,758 | 9,813 | 8,311 | 8,692 | 9,501 | 13,559 | 9,723 | 9,160 | 10,215 | 10,641 |
| EBITDA 1 | 733.4 | 446.8 | 1,955 | 396 | 495 | 1,170 | 2,230 | 2,044 | 1,197 | 674 | 1,215 |
| EBIT 1 | 275.4 | -108.9 | 1,418 | -252 | -41 | -6 | 1,697 | 1,488 | 640 | -431 | 658 |
| Operating Margin | 4.6% | -1.4% | 14.45% | -3.03% | -0.47% | -0.06% | 12.52% | 15.3% | 6.99% | -4.22% | 6.18% |
| Earnings before Tax (EBT) | - | - | - | - | - | - | - | - | - | - | - |
| Net income 1 | 101 | -118.9 | 900 | -273 | -232 | -529 | 1,034 | 840 | 385 | -585 | 406 |
| Net margin | 1.69% | -1.53% | 9.17% | -3.28% | -2.67% | -5.57% | 7.63% | 8.64% | 4.2% | -5.73% | 3.82% |
| EPS | - | - | - | - | - | - | - | - | - | - | - |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 11/17/21 | 3/31/22 | 5/10/22 | 8/17/22 | 11/23/22 | 3/29/23 | 5/30/23 | 9/6/23 | 11/23/23 | 4/18/24 | - |
1PLN in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 13,076 | 13,411 | 12,275 | 14,809 | - | 13,370 | 14,634 | 17,200 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 3.633 x | 3.31 x | 2.956 x | 3.688 x | - | 2.665 x | 2.669 x | 3.127 x |
| Free Cash Flow 1 | -2,000 | 134 | 1,899 | -1,104 | - | 663 | -241 | -152 |
| ROE (net income / shareholders' equity) | 5.26% | -14.7% | 2.09% | -0.81% | - | 5.74% | 10% | - |
| ROA (Net income/ Total Assets) | 2.43% | - | - | - | - | - | - | - |
| Assets 1 | -449.5 | - | - | - | - | - | - | - |
| Book Value Per Share 2 | 10.40 | 8.860 | 9.410 | 9.460 | - | 9.210 | 10.60 | - |
| Cash Flow per Share | 1.160 | 2.310 | 2.850 | - | - | - | - | - |
| Capex 1 | 4,035 | 3,908 | 3,255 | 3,879 | - | 5,049 | 4,983 | 5,000 |
| Capex / Sales | 20.63% | 19.19% | 12.71% | 10.68% | - | 11.7% | 12.78% | 14.26% |
| Announcement Date | 4/1/20 | 3/31/21 | 3/31/22 | 3/29/23 | 4/18/24 | - | - | - |
1PLN in Million2PLN
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
OUTPERFORM
Number of Analysts
5
Last Close Price
3.024
PLN
Average target price
4.74
PLN
Spread / Average Target
+56.75%
EPS Revisions
Quarterly revenue - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| -19.01% | 1.33B | |
| -20.86% | 84.79B | |
| +55.95% | 78.13B | |
| -.--% | 51.55B | |
| +1.51% | 50.24B | |
| -2.70% | 46B | |
| -4.01% | 39.87B | |
| +3.79% | 35.48B | |
| +16.66% | 35.53B | |
| -21.37% | 25.95B |
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