Financials Aurora Design

Equities

AURA

THB100010008

Apparel & Accessories Retailers

End-of-day quote Thailand S.E. Other stock markets 06:00:00 2024-05-07 pm EDT			5-day change	1st Jan Change
13 ^THB	+1.56%		-3.70%	-15.58%

May. 02	Aurora Design Public Company Limited Announces Resignation of Pichamon Ieamsamang as Accounting Manager (Chief Accountant)	CI
May. 02	Aurora Design Public Company Limited Announces Changing of CFO	CI

Valuation

Fiscal Period: December	2022	2023	2024	2025	2026
Capitalization ¹	23,345	20,544	17,342	-	-
Enterprise Value (EV) ¹	23,345	24,942	21,798	21,632	21,794
P/E ratio	-	24.1 x	18.1 x	15.9 x	14.9 x
Yield	-	-	2.69%	3.08%	3.31%
Capitalization / Revenue	0.8 x	0.69 x	0.57 x	0.54 x	0.5 x
EV / Revenue	0.8 x	0.84 x	0.72 x	0.68 x	0.63 x
EV / EBITDA	16 x	14.5 x	11.8 x	10.8 x	10.3 x
EV / FCF	-	-25.7 x	-15.9 x	-21 x	-15.4 x
FCF Yield	-	-3.89%	-6.29%	-4.76%	-6.51%
Price to Book	-	3.62 x	2.71 x	2.41 x	2.16 x
Nbr of stocks (in thousands)	1,334,000	1,334,000	1,334,000	-	-
Reference price ²	17.50	15.40	13.00	13.00	13.00
Announcement Date	2/27/23	2/28/24	-	-	-

¹THB in Million²THB

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2021	2022	2023	2024	2025	2026
Net sales ¹	-	29,358	29,578	30,240	32,015	34,736
EBITDA ¹	-	1,460	1,719	1,842	2,007	2,121
EBIT ¹	-	-	1,313	1,089	1,153	1,250
Operating Margin	-	-	4.44%	3.6%	3.6%	3.6%
Earnings before Tax (EBT) ¹	-	-	1,062	1,194	1,373	1,457
Net income ¹	586.1	707.9	850	955	1,098	1,166
Net margin	-	2.41%	2.87%	3.16%	3.43%	3.36%
EPS ²	58.61	-	0.6400	0.7200	0.8200	0.8700
Free Cash Flow ¹	-	-	-969.3	-1,372	-1,030	-1,419
FCF margin	-	-	-3.28%	-4.54%	-3.22%	-4.09%
FCF Conversion (EBITDA)	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-
Dividend per Share ²	-	-	-	0.3500	0.4000	0.4300
Announcement Date	7/7/22	2/27/23	2/28/24	-	-	-

¹THB in Million²THB

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2023 Q1	2023 Q2	2023 Q3	2024 Q1
Net sales ¹	-	7,546	6,630	7,785
EBITDA ¹	-	405.5	338.6	544
EBIT ¹	-	305.9	234.7	436
Operating Margin	-	4.05%	3.54%	5.6%
Earnings before Tax (EBT) ¹	-	249.1	176.5	354
Net income ¹	267.3	199.5	141.6	273
Net margin	-	2.64%	2.14%	3.51%
EPS ²	0.2000	0.1500	0.1100	0.2000
Dividend per Share	-	-	-	-
Announcement Date	5/12/23	8/15/23	11/14/23	-

¹THB in Million²THB

Estimates

Balance Sheet Analysis

Fiscal Period: December	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	4,398	4,456	4,290	4,452
Net Cash position ¹	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	2.559 x	2.419 x	2.138 x	2.099 x
Free Cash Flow ¹	-	-	-969	-1,372	-1,030	-1,419
ROE (net income / shareholders' equity)	-	19.3%	16%	15.8%	16.2%	15.3%
ROA (Net income/ Total Assets)	-	6.94%	-	-	-	-
Assets ¹	-	10,207	-	-	-	-
Book Value Per Share ²	-	-	4.260	4.790	5.400	6.020
Cash Flow per Share	-	-	-	-	-	-
Capex ¹	-	93.5	125	448	382	424
Capex / Sales	-	0.32%	0.42%	1.48%	1.19%	1.22%
Announcement Date	7/7/22	2/27/23	2/28/24	-	-	-

¹THB in Million²THB

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Aurora Design

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

13 THB

Average target price

16.2 THB

Spread / Average Target

+24.62%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Jewelry & Watch Retailers

	1st Jan change	Capi.
AURORA DESIGN	-15.58%	463M
KALYAN JEWELLERS INDIA LIMITED	+11.07%	4.8B
SIGNET JEWELERS LIMITED	-11.79%	4.31B
SHANGHAI YUYUAN TOURIST MART (GROUP) CO., LTD.	-4.99%	3.23B
LOVISA HOLDINGS LIMITED	+27.54%	2.3B
WATCHES OF SWITZERLAND GROUP PLC	-54.13%	999M
THE HOUR GLASS LIMITED	-6.63%	745M
ETHOS LIMITED	+6.59%	663M
MCLON JEWELLERY CO.,LTD.	-17.06%	416M
CORTINA HOLDINGS LIMITED	-7.14%	404M

Jewelry & Watch Retailers