Financials Aurora Design

Equities

AURA

THB100010008

Apparel & Accessories Retailers

End-of-day quote Thailand S.E. Other stock markets 03:30:00 21/05/2024 am IST			5-day change	1st Jan Change
13.1 ^THB	-2.24%		+0.77%	-14.94%

14/05	Aurora Design Public Company Limited Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
02/05	Aurora Design Public Company Limited Announces Resignation of Pichamon Ieamsamang as Accounting Manager (Chief Accountant)	CI

Valuation

Fiscal Period: December	2022	2023	2024	2025	2026
Capitalization ¹	23,345	20,544	17,475	-	-
Enterprise Value (EV) ¹	23,345	24,942	21,931	21,765	21,927
P/E ratio	-	24.1 x	18.2 x	16 x	15.1 x
Yield	-	-	2.67%	3.05%	3.28%
Capitalization / Revenue	0.8 x	0.69 x	0.58 x	0.55 x	0.5 x
EV / Revenue	0.8 x	0.84 x	0.73 x	0.68 x	0.63 x
EV / EBITDA	16 x	14.5 x	11.9 x	10.8 x	10.3 x
EV / FCF	-	-25.7 x	-16 x	-21.1 x	-15.5 x
FCF Yield	-	-3.89%	-6.26%	-4.73%	-6.47%
Price to Book	-	3.62 x	2.73 x	2.43 x	2.18 x
Nbr of stocks (in thousands)	13,34,000	13,34,000	13,34,000	-	-
Reference price ²	17.50	15.40	13.10	13.10	13.10
Announcement Date	27/02/23	28/02/24	-	-	-

¹THB in Million²THB

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2021	2022	2023	2024	2025	2026
Net sales ¹	-	29,358	29,578	30,240	32,015	34,736
EBITDA ¹	-	1,460	1,719	1,842	2,007	2,121
EBIT ¹	-	-	1,313	1,089	1,153	1,250
Operating Margin	-	-	4.44%	3.6%	3.6%	3.6%
Earnings before Tax (EBT) ¹	-	-	1,062	1,194	1,373	1,457
Net income ¹	586.1	707.9	850	955	1,098	1,166
Net margin	-	2.41%	2.87%	3.16%	3.43%	3.36%
EPS ²	58.61	-	0.6400	0.7200	0.8200	0.8700
Free Cash Flow ¹	-	-	-969.3	-1,372	-1,030	-1,419
FCF margin	-	-	-3.28%	-4.54%	-3.22%	-4.09%
FCF Conversion (EBITDA)	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-
Dividend per Share ²	-	-	-	0.3500	0.4000	0.4300
Announcement Date	07/07/22	27/02/23	28/02/24	-	-	-

¹THB in Million²THB

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2023 Q1	2023 Q2	2023 Q3	2024 Q1
Net sales ¹	-	7,546	6,630	8,062
EBITDA ¹	-	405.5	338.6	534.5
EBIT ¹	-	305.9	234.7	420.8
Operating Margin	-	4.05%	3.54%	5.22%
Earnings before Tax (EBT) ¹	-	249.1	176.5	342.6
Net income ¹	267.3	199.5	141.6	274.6
Net margin	-	2.64%	2.14%	3.41%
EPS ²	0.2000	0.1500	0.1100	0.2100
Dividend per Share	-	-	-	-
Announcement Date	12/05/23	15/08/23	14/11/23	14/05/24

¹THB in Million²THB

Estimates

Balance Sheet Analysis

Fiscal Period: December	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	4,398	4,456	4,290	4,452
Net Cash position ¹	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	2.559 x	2.419 x	2.138 x	2.099 x
Free Cash Flow ¹	-	-	-969	-1,372	-1,030	-1,419
ROE (net income / shareholders' equity)	-	19.3%	16%	15.8%	16.2%	15.3%
ROA (Net income/ Total Assets)	-	6.94%	-	-	-	-
Assets ¹	-	10,207	-	-	-	-
Book Value Per Share ²	-	-	4.260	4.790	5.400	6.020
Cash Flow per Share	-	-	-	-	-	-
Capex ¹	-	93.5	125	448	382	424
Capex / Sales	-	0.32%	0.42%	1.48%	1.19%	1.22%
Announcement Date	07/07/22	27/02/23	28/02/24	-	-	-

¹THB in Million²THB

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Aurora Design

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

13.1 THB

Average target price

16.2 THB

Spread / Average Target

+23.66%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Jewelry & Watch Retailers

	1st Jan change	Capi.
AURORA DESIGN	-14.94%	481M
KALYAN JEWELLERS INDIA LIMITED	+12.91%	4.97B
SIGNET JEWELERS LIMITED	-6.88%	4.46B
SHANGHAI YUYUAN TOURIST MART (GROUP) CO., LTD.	-1.93%	3.28B
LOVISA HOLDINGS LIMITED	+31.34%	2.35B
LUK FOOK HOLDINGS (INTERNATIONAL) LIMITED	-8.16%	1.47B
WATCHES OF SWITZERLAND GROUP PLC	-44.67%	1.27B
THE HOUR GLASS LIMITED	-4.22%	767M
ETHOS LIMITED	+12.81%	687M
MCLON JEWELLERY CO.,LTD.	-17.06%	424M

Jewelry & Watch Retailers