Financials Grupo Hotelero Santa Fe, S.A.B. de C.V.

Equities

End-of-day quote Mexican S.E. Other stock markets 06:00:00 2024-04-25 pm EDT			5-day change	1st Jan Change
3.58 ^MXN	-1.10%		-2.45%	-8.21%

Feb. 23	Transcript : Grupo Hotelero Santa Fe, S.A.B. de C.V., Q4 2023 Earnings Call, Feb 23, 2024
Feb. 22	Grupo Hotelero Santa Fe, S.A.B. de C.V. Reports Earnings Results for the Fourth Quarter Ended December 31, 2023	CI

Fiscal Period: December	2018	2019	2021	2022	2023	2024	2025
Capitalization ¹	4,043	3,074	2,858	3,437	2,564	2,564	-
Enterprise Value (EV) ¹	6,936	5,545	5,514	6,573	2,793	5,331	5,313
P/E ratio	15.1 x	18.6 x	-94 x	-	-	-	-
Yield	-	-	-	-	-	-	-
Capitalization / Revenue	1.96 x	1.37 x	1.62 x	1.3 x	0.94 x	0.9 x	0.78 x
EV / Revenue	3.36 x	2.48 x	3.13 x	2.48 x	0.94 x	1.88 x	1.61 x
EV / EBITDA	10.3 x	8.59 x	13.8 x	8.77 x	3.33 x	6.76 x	5.76 x
EV / FCF	-	-	-106,363,303 x	-	-	-	13,149,957 x
FCF Yield	-	-	-0%	-	-	-	0%
Price to Book	-	-	0.59 x	-	-	-	-
Nbr of stocks (in thousands)	487,739	486,438	608,044	716,085	716,085	716,085	-
Reference price ²	8.290	6.320	4.700	4.800	3.580	3.580	3.580
Announcement Date	2/21/19	2/20/20	2/17/22	2/16/23	2/22/24	-	-

¹MXN in Million²MXN

Estimates

Fiscal Period: December	2018	2019	2021	2022	2023	2024	2025
Net sales ¹	2,065	2,238	1,761	2,652	2,959	2,836	3,296
EBITDA ¹	675.8	645.6	400.7	749.2	839.7	789	922
EBIT ¹	450.6	378.7	135.6	354.6	380.2	413	524
Operating Margin	21.82%	16.92%	7.7%	13.37%	12.85%	14.56%	15.9%
Earnings before Tax (EBT) ¹	314	272.5	-109	345.8	716.8	-14	148
Net income ¹	266	179.4	-0.141	198.3	592.9	-11	108
Net margin	12.88%	8.01%	-0.01%	7.48%	20.04%	-0.39%	3.28%
EPS	0.5500	0.3400	-0.0500	-	-	-	-
Free Cash Flow	-	-	-51.84	-	-	-	404
FCF margin	-	-	-2.94%	-	-	-	12.26%
FCF Conversion (EBITDA)	-	-	-	-	-	-	43.82%
FCF Conversion (Net income)	-	-	-	-	-	-	374.07%
Dividend per Share	-	-	-	-	-	-	-
Announcement Date	2/21/19	2/20/20	2/17/22	2/16/23	2/22/24	-	-

¹MXN in Million

Estimates

Fiscal Period: December	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4
Net sales ¹	483.6	462.8	546.3	589.1	670	652.4	740.9	871.5	722	655.9	709.9
EBITDA ¹	128.1	103.3	165	169.3	192.8	171.5	215.5	-	204.3	-	180.3
EBIT	61.95	-	-	-	-	-	-	-	126.4	-	-
Operating Margin	12.81%	-	-	-	-	-	-	-	17.51%	-	-
Earnings before Tax (EBT)	-	-	-	-	-	-	-	-	-	-82.06	-
Net income ¹	106	-	71.17	76.94	47.18	45.86	-	106.7	386.2	-	5.226
Net margin	21.92%	-	13.03%	13.06%	7.04%	7.03%	-	12.24%	53.49%	-	0.74%
EPS	0.2300	-	-	-	-	-	-	-	-	-	-
Dividend per Share	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	7/22/21	10/21/21	2/17/22	4/21/22	7/21/22	10/20/22	2/16/23	4/24/23	7/20/23	10/19/23	2/22/24

¹MXN in Million

Estimates

Fiscal Period: December	2018	2019	2021	2022	2023	2024	2025
Net Debt ¹	2,892	2,471	2,657	3,136	3,032	2,767	2,749
Net Cash position ¹	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	4.28 x	3.827 x	6.631 x	4.186 x	3.666 x	3.507 x	2.982 x
Free Cash Flow	-	-	-51.8	-	-	-	404
ROE (net income / shareholders' equity)	6.56%	3.86%	0.42%	-	-	-	-
ROA (Net income/ Total Assets)	3.03%	1.76%	0.19%	-	-	-	-
Assets ¹	8,789	10,208	-74.16	-	-	-	-
Book Value Per Share	-	-	7.930	-	-	-	-
Cash Flow per Share	-	-	-	-	-	-	-
Capex	-	-	392	-	-	-	316
Capex / Sales	-	-	22.27%	-	-	-	9.59%
Announcement Date	2/21/19	2/20/20	2/17/22	2/16/23	2/22/24	-	-

¹MXN in Million

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

3.58 MXN

Average target price

5.5 MXN

Spread / Average Target

+53.63%

	1st Jan change	Capi.
GRUPO HOTELERO SANTA FE, S.A.B. DE C.V.	-8.21%	149M
H WORLD GROUP LIMITED	+19.80%	12.57B
WHITBREAD PLC	-16.77%	6.95B
WYNDHAM HOTELS & RESORTS, INC.	-8.23%	5.95B
CHOICE HOTELS INTERNATIONAL, INC.	+5.08%	5.91B
SHANGHAI JIN JIANG INTERNATIONAL HOTELS CO., LTD.	-7.69%	3.72B
SHANGRI-LA ASIA LIMITED	+5.97%	2.58B
ATOUR LIFESTYLE HOLDINGS LIMITED	+7.49%	2.57B
CHALET HOTELS LIMITED	+26.90%	2.31B
BTG HOTELS (GROUP) CO., LTD.	-3.46%	2.32B