Financials Arvida Group Limited

Equities

End-of-day quote New Zealand S.E. Other stock markets 06:00:00 2024-04-25 pm EDT			5-day change	1st Jan Change
1.07 ^NZD	+0.94%		+0.94%	-2.73%

Mar. 18	Arvida Group Sells Strathallan Village in New Zealand's Timaru	MT
Feb. 21	Rio Tinto Says It Has Best Exploration Pipeline in Years -- Commodity Comment	DJ

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	538.1	677.4	895.1	1,239	672.9	782.2	-	-
Enterprise Value (EV) ¹	724.1	985.6	1,254	1,683	1,286	1,533	1,567	1,586
P/E ratio	9.17 x	14.9 x	6.86 x	5.33 x	8.17 x	7.49 x	7.09 x	4.61 x
Yield	4.12%	4.64%	3.24%	3.2%	5.22%	3.12%	3.46%	4.1%
Capitalization / Revenue	3.53 x	4.14 x	5.13 x	6.14 x	3.03 x	2.74 x	2.58 x	2.39 x
EV / Revenue	4.75 x	6.02 x	7.18 x	8.35 x	5.79 x	5.36 x	5.18 x	4.85 x
EV / EBITDA	14.4 x	15.4 x	19.7 x	18.7 x	11.5 x	12.9 x	13.2 x	12 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	0.98 x	0.94 x	1.08 x	0.92 x	0.48 x	0.52 x	0.48 x	0.45 x
Nbr of stocks (in thousands)	413,950	541,892	542,488	720,061	723,578	730,985	-	-
Reference price ²	1.300	1.250	1.650	1.720	0.9300	1.070	1.070	1.070
Announcement Date	5/27/19	5/26/20	5/25/21	5/29/22	5/29/23	-	-	-

¹NZD in Million²NZD

Estimates

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	152.4	163.7	174.5	201.7	222	285.9	302.8	327.2
EBITDA ¹	50.3	64.06	63.53	89.8	111.5	118.4	118.7	131.8
EBIT ¹	45.25	58.23	57.7	81.42	103.1	109.6	109.1	121.6
Operating Margin	29.68%	35.58%	33.07%	40.38%	46.44%	38.35%	36.02%	37.16%
Earnings before Tax (EBT)	61.86	22.27	133	197.7	-	-	-	-
Net income ¹	59.08	42.64	131.1	198.9	82.46	85.07	83.22	94.29
Net margin	38.75%	26.06%	75.13%	98.62%	37.15%	29.75%	27.49%	28.82%
EPS ²	0.1417	0.0840	0.2406	0.3230	0.1138	0.1428	0.1510	0.2319
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	0.0535	0.0580	0.0535	0.0550	0.0485	0.0334	0.0370	0.0439
Announcement Date	5/27/19	5/26/20	5/25/21	5/29/22	5/29/23	-	-	-

¹NZD in Million²NZD

Estimates

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	186	308	358	445	613	751	785	804
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	3.697 x	4.812 x	5.643 x	4.952 x	5.499 x	6.344 x	6.617 x	6.098 x
Free Cash Flow	-	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	7.29%	8.12%	6.7%	6.77%	6.02%	5.86%	5.56%	5.98%
ROA (Net income/ Total Assets)	3.72%	3.22%	2.54%	2.92%	2.46%	2.55%	2.17%	2.24%
Assets ¹	1,588	1,323	5,164	6,813	3,356	3,341	3,839	4,215
Book Value Per Share ²	1.330	1.330	1.520	1.870	1.930	2.080	2.210	2.400
Cash Flow per Share ²	0.1700	0.1900	0.2400	0.2500	0.2100	0.1300	0.1300	0.1500
Capex ¹	7.54	12.5	155	207	287	272	214	211
Capex / Sales	4.95%	7.61%	88.73%	102.88%	129.38%	94.96%	70.79%	64.54%
Announcement Date	5/27/19	5/26/20	5/25/21	5/29/22	5/29/23	-	-	-

¹NZD in Million²NZD

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

B-

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

1.07 NZD

Average target price

1.448 NZD

Spread / Average Target

+35.28%

	1st Jan change	Capi.
ARVIDA GROUP LIMITED	-2.73%	464M
ORPEA	-24.26%	2.18B
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AMVIS HOLDINGS, INC.	-26.82%	1.37B
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SONIDA SENIOR LIVING, INC.	+240.37%	432M
MEDITERRANEAN TOWERS LTD.	-7.77%	322M
HUMANA AB	+1.24%	124M
GOLDEN HOUSE LTD	+39.04%	88.82M