PT SEKAR LAUT TBK

Financials PT Sekar Laut Tbk

Equities

SKLT

ID1000059702

Food Processing

End-of-day quote INDONESIA S.E. Other stock markets 06:00:00 2024-05-02 pm EDT			5-day change	1st Jan Change
127 ^IDR	-2.31%		-7.97%	-54.96%

Mar. 28	PT Sekar Laut Tbk Reports Earnings Results for the Full Year Ended December 31, 2023	CI
2023	PT Sekar Laut Tbk Reports Earnings Results for the Nine Months Ended September 30, 2023	CI

Valuation

Fiscal Period: December	2018	2019	2020	2021	2022	2023
Capitalization ¹	932,500	1,000,883	972,908	1,504,433	1,212,267	1,753,099
Enterprise Value (EV) ¹	1,108,559	1,171,422	1,062,780	1,496,777	1,262,244	1,688,167
P/E ratio	32.1 x	24.6 x	25.3 x	19.7 x	16.1 x	22.5 x
Yield	0.6%	0.93%	0.96%	1.98%	1.38%	-
Capitalization / Revenue	0.89 x	0.78 x	0.78 x	1.11 x	0.79 x	0.98 x
EV / Revenue	1.06 x	0.91 x	0.85 x	1.1 x	0.82 x	0.94 x
EV / EBITDA	15.6 x	12.2 x	11.3 x	11.7 x	11 x	13 x
EV / FCF	-37.5 x	-1,019 x	14.9 x	15.5 x	-25 x	-38.7 x
FCF Yield	-2.67%	-0.1%	6.71%	6.47%	-4%	-2.59%
Price to Book	2.74 x	2.63 x	2.39 x	2.77 x	2.07 x	2.85 x
Nbr of stocks (in thousands)	6,216,665	6,216,665	6,216,665	6,216,665	6,216,754	6,216,665
Reference price ²	150.0	161.0	156.5	242.0	195.0	282.0
Announcement Date	3/28/19	4/1/20	3/24/21	3/31/22	4/13/23	3/28/24

¹IDR in Million²IDR

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2018	2019	2020	2021	2022	2023
Net sales ¹	1,045,030	1,281,116	1,253,701	1,356,846	1,539,311	1,794,345
EBITDA ¹	71,043	96,173	94,449	127,618	115,094	129,896
EBIT ¹	50,660	72,908	69,509	103,234	89,813	102,725
Operating Margin	4.85%	5.69%	5.54%	7.61%	5.83%	5.72%
Earnings before Tax (EBT) ¹	39,568	56,782	55,674	101,725	92,440	97,118
Net income ¹	32,110	44,989	42,521	84,525	75,154	77,850
Net margin	3.07%	3.51%	3.39%	6.23%	4.88%	4.34%
EPS ²	4.669	6.542	6.183	12.29	12.09	12.51
Free Cash Flow ¹	-29,545	-1,150	71,309	96,833	-50,442	-43,648
FCF margin	-2.83%	-0.09%	5.69%	7.14%	-3.28%	-2.43%
FCF Conversion (EBITDA)	-	-	75.5%	75.88%	-	-
FCF Conversion (Net income)	-	-	167.7%	114.56%	-	-
Dividend per Share ²	0.9000	1.500	1.500	4.800	2.700	-
Announcement Date	3/28/19	4/1/20	3/24/21	3/31/22	4/13/23	3/28/24

¹IDR in Million²IDR

Estimates

Balance Sheet Analysis

Fiscal Period: December	2018	2019	2020	2021	2022	2023
Net Debt ¹	176,060	170,539	89,872	-	49,977	-
Net Cash position ¹	-	-	-	7,656	-	64,932
Leverage (Debt/EBITDA)	2.478 x	1.773 x	0.9515 x	-	0.4342 x	-
Free Cash Flow ¹	-29,545	-1,150	71,309	96,833	-50,442	-43,648
ROE (net income / shareholders' equity)	9.88%	12.5%	10.8%	17.8%	13.2%	11.1%
ROA (Net income/ Total Assets)	4.58%	5.93%	5.55%	7.76%	5.84%	5.54%
Assets ¹	701,577	759,300	765,764	1,089,293	1,286,930	1,404,164
Book Value Per Share ²	54.70	61.30	65.60	87.30	94.40	98.90
Cash Flow per Share ²	3.280	3.600	11.60	20.50	15.60	39.70
Capex ¹	32,052	37,069	9,660	17,371	49,669	69,651
Capex / Sales	3.07%	2.89%	0.77%	1.28%	3.23%	3.88%
Announcement Date	3/28/19	4/1/20	3/24/21	3/31/22	4/13/23	3/28/24

¹IDR in Million²IDR

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Sector Food Ingredients

	1st Jan change	Capi.
PT SEKAR LAUT TBK	-54.96%	49.23M
FOSHAN HAITIAN FLAVOURING AND FOOD COMPANY LTD.	+3.45%	30.13B
INTERNATIONAL FLAVORS & FRAGRANCES INC.	+7.00%	22.12B
KIKKOMAN CORPORATION	+10.44%	11.87B
LANCASTER COLONY CORPORATION	+15.09%	5.27B
MEIHUA HOLDINGS GROUP CO.,LTD	+16.44%	4.38B
ANGEL YEAST CO., LTD	-15.24%	3.53B
JONJEE HI-TECH INDUSTRIAL AND COMMERCIAL HOLDING CO.,LTD	+4.98%	3.13B
KEWPIE CORPORATION	+28.84%	2.91B
ANHUI HUAHENG BIOTECHNOLOGY CO., LTD.	-5.94%	2.57B

Food Ingredients

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SKLT Stock
Financials PT Sekar Laut Tbk

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