SOCIÉTÉ D'EXPLOITATI

MSA
End-of-day quote. End-of-day quote  - 11/30
271MAD -1.45%
Valuation
Fiscal Period: December 2020 2021
Capitalization1 15 41319 890
Entreprise Value (EV)1 15 41322 159
P/E ratio -28,8x
Yield 3,81%2,88%
Capitalization / Revenue 5,59x5,87x
EV / Revenue 5,59x6,54x
EV / EBITDA -15,7x
Price to Book --
Nbr of stocks (in thousands) 73 39673 396
Reference price (MAD) 210271
Announcement Date 04/30/2021-
Previous period Next period
1 MAD in Million
Estimates
Income Statement Evolution
Annual Income Statement Data
Fiscal Period: December 2020 2021
Net sales1 2 7573 388
EBITDA1 -1 409
Operating profit (EBIT)1 -996
Operating Margin -29,4%
Pre-Tax Profit (EBT)1 -790
Net income1 -695
Net margin -20,5%
EPS2 -9,40
Dividend per Share2 8,007,80
Announcement Date 04/30/2021-
Previous period Next period
1 MAD in Million
2 MAD
Finances - Leverage
Fiscal Period: December 2020 2021
Net Debt1 -2 269
Net Cash position1 --
Leverage (Debt / EBITDA) -1,61x
Free Cash Flow1 -174
ROE (Net Profit / Equities) 14,0%37,8%
Shareholders' equity1 -1 842
ROA (Net Profit / Asset) --
Assets1 --
Book Value Per Share --
Cash Flow per Share --
Capex1 -1 034
Capex / Sales -30,5%
Announcement Date 04/30/2021-
Previous period Next period
1 MAD in Million
Financial Ratios
Size 2021e 2022e
Capitalization 19 890 M MAD -
Entreprise Value (EV) 22 159 M MAD 21 901 M MAD
Valuation 2021e 2022e
P/E ratio (Price / EPS) 28,8x 24,9x
Capitalization / Revenue 5,87x 5,41x
EV / Revenue 6,54x 6,03x
EV / EBITDA 15,7x 14,3x
Yield (DPS / Price) 2,88% 3,19%
Price to book (Price / BVPS) - -
Profitability 2021e 2022e
Operating Margin (EBIT / Sales) 29,4% 35,2%
Operating Leverage (Delta EBIT / Delta Sales) - 3,53x
Net Margin (Net Profit / Revenue) 20,5% 22,0%
ROA (Net Profit / Asset) - -
ROE (Net Profit / Equities) 37,8% 38,5%
Rate of Dividend 83,0% 79,4%
Balance Sheet Analysis 2021e 2022e
CAPEX / Sales   30,5% 20,1%
Cash Flow / Sales - -
Capital Intensity (Assets / Sales) - -
Financial Leverage (Net Debt / EBITDA) 1,61x 1,29x
Price Earning Ratio
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
EPS & Dividend