Financials Airtel Malawi Plc

Equities

AIRTEL

MWAIRT001156

Wireless Telecommunications Services

End-of-day quote Malawi S.E. 06:00:00 2024-04-24 pm EDT 5-day change 1st Jan Change
51.01 MWK +1.61% Intraday chart for Airtel Malawi Plc +1.69% -14.98%

Valuation

Fiscal Period: December 2020 2021
Capitalization 1 307,780 440,000
Enterprise Value (EV) 1 348,269 465,393
P/E ratio 13.9 x 13.6 x
Yield 7.51% 7.38%
Capitalization / Revenue 2.79 x 3.34 x
EV / Revenue 3.16 x 3.53 x
EV / EBITDA 7.35 x 7.53 x
EV / FCF 20.2 x 10.1 x
FCF Yield 4.94% 9.87%
Price to Book 12.8 x 13.2 x
Nbr of stocks (in thousands) 11,000,000 11,000,000
Reference price 2 27.98 40.00
Announcement Date 7/6/21 4/21/22
1MWK in Million2MWK
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021
Net sales 1 92,922 92,824 110,233 131,769
EBITDA 1 37,237 37,179 47,384 61,781
EBIT 1 28,517 27,589 36,319 51,127
Operating Margin 30.69% 29.72% 32.95% 38.8%
Earnings before Tax (EBT) 1 10,051 25,231 31,739 46,217
Net income 1 2,310 15,908 22,093 32,335
Net margin 2.49% 17.14% 20.04% 24.54%
EPS 2 0.2100 1.446 2.008 2.940
Free Cash Flow 1 37,779 8,495 17,221 45,913
FCF margin 40.66% 9.15% 15.62% 34.84%
FCF Conversion (EBITDA) 101.46% 22.85% 36.34% 74.32%
FCF Conversion (Net income) 1,635.51% 53.4% 77.95% 141.99%
Dividend per Share - 1.250 2.100 2.950
Announcement Date 7/17/20 7/17/20 7/6/21 4/21/22
1MWK in Million2MWK
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021
Net Debt 1 40,916 41,193 40,489 25,393
Net Cash position 1 - - - -
Leverage (Debt/EBITDA) 1.099 x 1.108 x 0.8545 x 0.411 x
Free Cash Flow 1 37,779 8,495 17,221 45,913
ROE (net income / shareholders' equity) 17% 163% 111% 113%
ROA (Net income/ Total Assets) 13.7% 16.1% 18% 21.4%
Assets 1 16,874 98,937 122,702 150,985
Book Value Per Share 2 0.3500 1.430 2.190 3.030
Cash Flow per Share 2 0.2300 0.5200 1.580 3.500
Capex 1 26,608 29,148 19,307 8,504
Capex / Sales 28.64% 31.4% 17.51% 6.45%
Announcement Date 7/17/20 7/17/20 7/6/21 4/21/22
1MWK in Million2MWK
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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