VRG S.A. |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 3.3 PLN | -.--% |
|
+1.54% | -2.94% |
| Apr. 11 | VRG S.A. Reports Earnings Results for the Full Year Ended December 31, 2023 | CI |
| Apr. 11 | VRG S.A. Reports Earnings Results for the Fourth Quarter Ended December 31, 2023 | CI |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|
| Capitalization 1 | 947.2 | 649.4 | 883.9 | 780.7 | 773.7 | - | - |
| Enterprise Value (EV) 1 | 1,286 | 672.2 | 1,158 | 780.7 | 818.1 | 816.6 | 773.7 |
| P/E ratio | 15.5 x | - | 14 x | 8.54 x | 8.25 x | 7.67 x | - |
| Yield | - | - | - | - | 7.27% | 7.88% | 7.88% |
| Capitalization / Revenue | 0.89 x | 0.76 x | 0.83 x | 0.61 x | 0.52 x | 0.48 x | - |
| EV / Revenue | 1.2 x | 0.79 x | 1.08 x | 0.61 x | 0.55 x | 0.51 x | - |
| EV / EBITDA | 6.48 x | 6.83 x | 5.74 x | 3.12 x | 4.98 x | 4.67 x | - |
| EV / FCF | 15,376,785 x | 5,322,994 x | 6,569,019 x | - | - | - | - |
| FCF Yield | 0% | 0% | 0% | - | - | - | - |
| Price to Book | 1.1 x | - | - | - | 0.76 x | 0.73 x | - |
| Nbr of stocks (in thousands) | 234,456 | 234,456 | 234,456 | 234,456 | 234,456 | - | - |
| Reference price 2 | 4.040 | 2.770 | 3.770 | 3.330 | 3.300 | 3.300 | 3.300 |
| Announcement Date | 3/31/20 | 3/29/21 | 4/8/22 | 4/4/23 | - | - | - |
1PLN in Million2PLN
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,068 | 853.7 | 1,070 | 1,274 | 1,494 | 1,609 | - |
| EBITDA 1 | 198.5 | 98.4 | 201.6 | 250.3 | 164.2 | 174.9 | - |
| EBIT 1 | 87.49 | -11.9 | 97.53 | 140.6 | 136.2 | 143.4 | - |
| Operating Margin | 8.19% | -1.39% | 9.12% | 11.04% | 9.12% | 8.91% | - |
| Earnings before Tax (EBT) 1 | 79.36 | -48.07 | - | 117.6 | 116.8 | 125.2 | - |
| Net income 1 | 63.99 | -48.2 | 66.31 | 92.96 | 94.58 | 101.4 | - |
| Net margin | 5.99% | -5.65% | 6.2% | 7.3% | 6.33% | 6.3% | - |
| EPS 2 | 0.2600 | - | 0.2700 | 0.3900 | 0.4000 | 0.4300 | - |
| Free Cash Flow | 83.62 | 126.3 | 176.3 | - | - | - | - |
| FCF margin | 7.83% | 14.79% | 16.48% | - | - | - | - |
| FCF Conversion (EBITDA) | 42.13% | 128.33% | 87.44% | - | - | - | - |
| FCF Conversion (Net income) | 130.67% | - | 265.87% | - | - | - | - |
| Dividend per Share 2 | - | - | - | - | 0.2400 | 0.2600 | 0.2600 |
| Announcement Date | 3/31/20 | 3/29/21 | 4/8/22 | 4/4/23 | - | - | - |
1PLN in Million2PLN
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2024 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 305 | 348.8 | 243.8 | 341.8 | 319.4 | 369 | 267 | 335.3 | 297.1 | 278.1 |
| EBITDA 1 | - | 79.68 | 32.56 | 87.05 | 60.6 | 70.11 | 35.33 | 74.98 | 51.61 | 35.4 |
| EBIT 1 | 43 | 53.61 | 5.013 | 60.18 | 33.3 | 42.06 | 4.727 | 43.28 | 19.73 | 4.8 |
| Operating Margin | 14.1% | 15.37% | 2.06% | 17.61% | 10.43% | 11.4% | 1.77% | 12.91% | 6.64% | 1.73% |
| Earnings before Tax (EBT) 1 | 29.79 | 49.59 | -3.735 | 49.98 | 11.71 | 59.68 | - | - | - | 4.8 |
| Net income 1 | 23.7 | 39.79 | -2.913 | 39.33 | 9.2 | 47.34 | - | 47.68 | - | 3.9 |
| Net margin | 7.77% | 11.41% | -1.19% | 11.51% | 2.88% | 12.83% | - | 14.22% | - | 1.4% |
| EPS | - | - | - | - | - | - | - | - | - | - |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 11/17/21 | 4/8/22 | 5/18/22 | 8/26/22 | 11/17/22 | 4/4/23 | 6/20/23 | 8/24/23 | 11/15/23 | - |
1PLN in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Net Debt 1 | 339 | 22.7 | 274 | - | 44.4 | 42.9 |
| Net Cash position 1 | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 1.706 x | 0.231 x | 1.36 x | - | 0.2705 x | 0.2453 x |
| Free Cash Flow | 83.6 | 126 | 176 | - | - | - |
| ROE (net income / shareholders' equity) | 7.67% | -5.74% | - | - | 9.4% | 9.7% |
| ROA (Net income/ Total Assets) | 4.5% | -3.33% | - | - | - | - |
| Assets 1 | 1,421 | 1,446 | - | - | - | - |
| Book Value Per Share 2 | 3.680 | - | - | - | 4.360 | 4.530 |
| Cash Flow per Share | - | - | - | - | - | - |
| Capex | 25 | 16.9 | - | - | - | - |
| Capex / Sales | 2.34% | 1.98% | - | - | - | - |
| Announcement Date | 3/31/20 | 3/29/21 | 4/8/22 | 4/4/23 | - | - |
1PLN in Million2PLN
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
2
Last Close Price
3.3
PLN
Average target price
4.505
PLN
Spread / Average Target
+36.52%
EPS Revisions
Quarterly revenue - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| -2.94% | 191M | |
| +5.56% | 414B | |
| +3.25% | 141B | |
| -30.69% | 45.4B | |
| +15.12% | 18.53B | |
| +13.47% | 10.46B | |
| +27.93% | 8.45B | |
| -0.24% | 6.75B | |
| +29.06% | 6.31B | |
| -10.17% | 6.28B |
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- Financials VRG S.A.
