Financials Silverlake Axis Ltd.

Equities

Market Closed - Singapore S.E. Other stock markets 05:08:02 2024-04-26 am EDT			5-day change	1st Jan Change
0.275 ^SGD	0.00%		+5.77%	-1.79%

Feb. 16	Singapore Shares Soar at Market Close; SIA Engineering Shares Jump 1%	MT
Feb. 16	Silverlake Axis' Fiscal H1 Attributable Profit Falls 11% Amid Higher Spending	MT

Fiscal Period: June	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	4,322	1,871	1,918	991.6	766.1	2,420	-	-
Enterprise Value (EV) ¹	3,954	1,525	1,527	428.2	177.4	2,420	2,420	2,420
P/E ratio	17.6 x	10.3 x	13.2 x	18.3 x	4.51 x	13.4 x	12.8 x	12 x
Yield	3.33%	3.93%	2.22%	1.76%	6.89%	2.25%	2.3%	2.49%
Capitalization / Revenue	6.35 x	2.82 x	3.06 x	1.35 x	1 x	3.01 x	2.86 x	2.68 x
EV / Revenue	6.35 x	2.82 x	3.06 x	1.35 x	1 x	3.01 x	2.86 x	2.68 x
EV / EBITDA	15.5 x	7.7 x	8.15 x	3.7 x	2.87 x	10.1 x	9.45 x	8.13 x
EV / FCF	13.5 x	9.18 x	9.81 x	3.7 x	11.4 x	13.4 x	13.1 x	3.93 x
FCF Yield	7.41%	10.9%	10.2%	27.1%	8.8%	7.46%	7.65%	25.5%
Price to Book	7.31 x	2.51 x	1.84 x	3.27 x	0.72 x	1.96 x	1.72 x	1.53 x
Nbr of stocks (in thousands)	2,645,053	2,589,357	2,644,127	2,510,340	2,511,842	2,514,757	-	-
Reference price ²	1.634	0.7224	0.7254	1.253	0.3050	0.9622	0.9622	0.9622
Announcement Date	8/23/19	8/26/20	8/26/21	8/29/22	8/25/23	-	-	-

¹MYR in Million²MYR

Estimates

Fiscal Period: June	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	680.8	663.7	626.1	736.5	765.9	802.9	847.4	902.1
EBITDA ¹	278.7	243	235.3	268.3	266.5	238.5	256.1	297.7
EBIT ¹	254.7	218.4	198	231.6	227.1	209.1	225	263.8
Operating Margin	37.41%	32.9%	31.62%	31.44%	29.65%	26.04%	26.55%	29.24%
Earnings before Tax (EBT) ¹	284.7	212.6	186.7	231.9	229.6	243.1	261.9	266.9
Net income ¹	245.6	184.7	143.1	182.2	169.6	182.1	194.7	200.4
Net margin	36.08%	27.83%	22.85%	24.73%	22.14%	22.68%	22.98%	22.21%
EPS ²	0.0927	0.0704	0.0549	0.0685	0.0676	0.0720	0.0753	0.0800
Free Cash Flow ¹	320.1	203.7	195.5	268.3	67.45	180.5	185	616.3
FCF margin	47.02%	30.69%	31.23%	36.42%	8.81%	22.48%	21.83%	68.32%
FCF Conversion (EBITDA)	114.86%	83.81%	83.1%	99.99%	25.31%	75.69%	72.23%	207.02%
FCF Conversion (Net income)	130.34%	110.28%	136.65%	147.27%	39.77%	99.12%	95.01%	307.53%
Dividend per Share ²	0.0544	0.0284	0.0161	0.0220	0.0210	0.0216	0.0222	0.0240
Announcement Date	8/23/19	8/26/20	8/26/21	8/29/22	8/25/23	-	-	-

¹MYR in Million²MYR

Estimates

Fiscal Period: June	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	368	346	391	563	589	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	320	204	196	268	67.4	181	185	616
ROE (net income / shareholders' equity)	41%	27.6%	15.9%	18.1%	16.2%	14.6%	13.8%	12.5%
ROA (Net income/ Total Assets)	22.4%	13.9%	10.1%	12.8%	10.9%	12.1%	12%	12.4%
Assets ¹	1,095	1,325	1,416	1,428	1,563	1,511	1,629	1,616
Book Value Per Share ²	0.2200	0.2900	0.3900	0.3800	0.4200	0.4900	0.5600	0.6300
Cash Flow per Share	0.1200	0.0800	0.0800	0.1000	0.0300	-	-	-
Capex ¹	5.08	6.12	1.38	2.04	5.17	4	4.3	4.5
Capex / Sales	0.75%	0.92%	0.22%	0.28%	0.67%	0.5%	0.51%	0.5%
Announcement Date	8/23/19	8/26/20	8/26/21	8/29/22	8/25/23	-	-	-

¹MYR in Million²MYR

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

B-

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

0.9622 MYR

Average target price

1.278 MYR

Spread / Average Target

+32.82%

	1st Jan change	Capi.
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