Stock 2370 MIDDLE EAST SPECIALIZED CABLES COMPANY
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Financials Middle East Specialized Cables Company

Equities

2370

SA11TGN15119

Electrical Components & Equipment

End-of-day quote Saudi Arabian S.E.
Other stock markets
 06:00:00 2024-04-29 pm EDT 		5-day change 1st Jan Change
33.2 SAR +1.22% Intraday chart for Middle East Specialized Cables Company +3.43% +48.61%
Apr. 29 Middle East Specialized Cables Secures SAR100 Million Credit Facilities MT
Mar. 17 Middle East Specialized Cables Company Reports Earnings Results for the Full Year Ended December 31, 2023 CI

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 494.4 378.4 616.8 809.6 396 893.6
Enterprise Value (EV) 1 601.1 481.3 682.7 825 459 888.7
P/E ratio -6.17 x -15.4 x 298 x -35.6 x -33.6 x 18.3 x
Yield - - - - - -
Capitalization / Revenue 0.84 x 0.81 x 1.17 x 1.57 x 0.49 x 0.96 x
EV / Revenue 1.02 x 1.03 x 1.3 x 1.6 x 0.56 x 0.96 x
EV / EBITDA -14.5 x 40.3 x 13.5 x 65.2 x 10.6 x 9.44 x
EV / FCF 6.6 x 19.8 x 19.3 x 12.8 x -24.4 x 34.3 x
FCF Yield 15.2% 5.06% 5.18% 7.81% -4.1% 2.91%
Price to Book 1.28 x 1.05 x 1.71 x 2.39 x 1.21 x 2.37 x
Nbr of stocks (in thousands) 40,000 40,000 40,000 40,000 40,000 40,000
Reference price 2 12.36 9.460 15.42 20.24 9.900 22.34
Announcement Date 4/4/19 3/30/20 4/4/21 4/10/22 4/5/23 3/17/24
1SAR in Million2SAR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 591.9 468.2 525.6 516.5 814.4 926.9
EBITDA 1 -41.42 11.94 50.54 12.66 43.3 94.17
EBIT 1 -63.74 -8.46 31.08 -5.428 25.57 76.34
Operating Margin -10.77% -1.81% 5.91% -1.05% 3.14% 8.24%
Earnings before Tax (EBT) 1 -69.91 -15.13 25.92 -10.19 19.09 65.53
Net income 1 -80.11 -24.58 2.067 -22.72 -11.79 48.94
Net margin -13.54% -5.25% 0.39% -4.4% -1.45% 5.28%
EPS 2 -2.003 -0.6146 0.0517 -0.5679 -0.2947 1.223
Free Cash Flow 1 91.06 24.36 35.39 64.4 -18.83 25.9
FCF margin 15.39% 5.2% 6.73% 12.47% -2.31% 2.79%
FCF Conversion (EBITDA) - 203.98% 70.01% 508.71% - 27.51%
FCF Conversion (Net income) - - 1,711.93% - - 52.93%
Dividend per Share - - - - - -
Announcement Date 4/4/19 3/30/20 4/4/21 4/10/22 4/5/23 3/17/24
1SAR in Million2SAR
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 107 103 65.9 15.4 63 -
Net Cash position 1 - - - - - 4.87
Leverage (Debt/EBITDA) -2.575 x 8.614 x 1.304 x 1.214 x 1.456 x -
Free Cash Flow 1 91.1 24.4 35.4 64.4 -18.8 25.9
ROE (net income / shareholders' equity) -18.8% -6.6% 0.57% -6.5% -3.54% 13.9%
ROA (Net income/ Total Assets) -4.96% -0.74% 2.88% -0.51% 2.23% 6.2%
Assets 1 1,614 3,306 71.72 4,487 -529 789.3
Book Value Per Share 2 9.620 8.990 9.030 8.460 8.210 9.440
Cash Flow per Share 2 0.3900 0.3600 1.230 1.700 1.090 0.5200
Capex 1 2.57 2.49 2.81 10.7 3.26 12.8
Capex / Sales 0.43% 0.53% 0.53% 2.06% 0.4% 1.38%
Announcement Date 4/4/19 3/30/20 4/4/21 4/10/22 4/5/23 3/17/24
1SAR in Million2SAR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Sector Other Electrical Components & Equipment

1st Jan change Capi.
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Other Electrical Components & Equipment
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