Financials Super Group Limited

Equities

End-of-day quote Johannesburg S.E. Other stock markets 06:00:00 2024-04-29 pm EDT			5-day change	1st Jan Change
27.96 ^ZAR	+0.22%		+5.83%	-6.02%

Feb. 27	Super Group Limited Reports Earnings Results for the Half Year Ended December 31, 2023	CI
2023	Super Group Limited Announces Change in Committee	CI

Fiscal Period: June	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	11,922	5,785	11,174	10,643	10,702	9,464	-	-
Enterprise Value (EV) ¹	14,964	8,927	16,098	29,743	33,290	31,196	29,919	28,405
P/E ratio	9.13 x	-17.5 x	10.9 x	7.77 x	6.87 x	6.87 x	5.62 x	4.9 x
Yield	-	-	-	2.14%	2.49%	2.65%	3.11%	3.46%
Capitalization / Revenue	0.31 x	0.17 x	0.28 x	0.23 x	0.17 x	0.14 x	0.13 x	0.12 x
EV / Revenue	0.39 x	0.26 x	0.41 x	0.64 x	0.54 x	0.45 x	0.41 x	0.37 x
EV / EBITDA	4.05 x	2.65 x	3.89 x	4.23 x	3.92 x	3.64 x	3.29 x	2.96 x
EV / FCF	117 x	6.12 x	14.9 x	23.5 x	77.5 x	14.5 x	10.4 x	9.69 x
FCF Yield	0.86%	16.3%	6.7%	4.26%	1.29%	6.91%	9.57%	10.3%
Price to Book	1.08 x	0.52 x	0.96 x	0.77 x	0.69 x	0.54 x	0.5 x	0.47 x
Nbr of stocks (in thousands)	362,476	361,548	359,764	361,888	333,098	338,481	-	-
Reference price ²	32.89	16.00	31.06	29.41	32.13	27.96	27.96	27.96
Announcement Date	8/26/19	9/15/20	8/30/21	8/30/22	8/28/23	-	-	-

¹ZAR in Million²ZAR

Estimates

Fiscal Period: June	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	37,900	34,578	39,518	46,238	61,877	68,970	72,689	76,894
EBITDA ¹	3,696	3,370	4,138	7,027	8,492	8,568	9,106	9,596
EBIT ¹	2,606	1,578	2,273	3,270	3,950	4,116	4,566	4,953
Operating Margin	6.88%	4.56%	5.75%	7.07%	6.38%	5.97%	6.28%	6.44%
Earnings before Tax (EBT) ¹	2,259	117.6	1,774	2,500	2,970	2,814	3,348	3,794
Net income ¹	1,308	-330.4	1,022	1,361	1,597	1,608	1,948	2,232
Net margin	3.45%	-0.96%	2.59%	2.94%	2.58%	2.33%	2.68%	2.9%
EPS ²	3.604	-0.9140	2.839	3.785	4.675	4.070	4.977	5.708
Free Cash Flow ¹	128.3	1,459	1,079	1,266	429.3	2,156	2,864	2,930
FCF margin	0.34%	4.22%	2.73%	2.74%	0.69%	3.13%	3.94%	3.81%
FCF Conversion (EBITDA)	3.47%	43.3%	26.08%	18.01%	5.06%	25.16%	31.45%	30.53%
FCF Conversion (Net income)	9.82%	-	105.57%	92.98%	26.88%	134.11%	147%	131.25%
Dividend per Share ²	-	-	-	0.6300	0.8000	0.7422	0.8698	0.9679
Announcement Date	8/26/19	9/15/20	8/30/21	8/30/22	8/28/23	-	-	-

¹ZAR in Million²ZAR

Estimates

Fiscal Period: June	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	3,042	3,142	4,924	19,100	22,587	21,732	20,455	18,941
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	0.8232 x	0.9324 x	1.19 x	2.718 x	2.66 x	2.537 x	2.246 x	1.974 x
Free Cash Flow ¹	128	1,459	1,079	1,266	429	2,156	2,864	2,930
ROE (net income / shareholders' equity)	13%	4.96%	8.94%	10.8%	11%	9.46%	10.3%	10.8%
ROA (Net income/ Total Assets)	-	-	-	-	-	2.8%	3.1%	3.3%
Assets ¹	-	-	-	-	-	57,414	62,848	67,650
Book Value Per Share ²	30.40	30.70	32.40	38.40	46.30	52.20	55.40	59.20
Cash Flow per Share ²	7.020	8.350	12.30	20.10	25.50	16.70	18.10	19.90
Capex ¹	1,765	1,558	2,503	1,309	2,130	2,574	2,630	2,805
Capex / Sales	4.66%	4.51%	6.33%	2.83%	3.44%	3.73%	3.62%	3.65%
Announcement Date	8/26/19	9/15/20	8/30/21	8/30/22	8/28/23	-	-	-

¹ZAR in Million²ZAR

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

27.96 ZAR

Average target price

37.42 ZAR

Spread / Average Target

+33.83%

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