Financials Continental Reinsurance Plc

Equities

CONTINSURE

NGCONTINSUR9

Reinsurance

End-of-day quote Nigerian S.E. 04:30:00 27/11/2019 am IST 5-day change 1st Jan Change
2.2 NGN -.--% Intraday chart for Continental Reinsurance Plc -2.65% -.--%

Valuation

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Capitalization 1 14,522 19,812 22,820 22,820 22,820 22,820
Enterprise Value (EV) 1 5,443 5,202 8,819 3,966 6,783 5,647
P/E ratio 5.16 x 5.67 x 12.3 x 12.5 x 7.24 x 4.9 x
Yield 10% - - - - -
Capitalization / Revenue 0.57 x 0.76 x 0.55 x 0.51 x 0.4 x 0.31 x
EV / Revenue 0.21 x 0.2 x 0.21 x 0.09 x 0.12 x 0.08 x
EV / EBITDA 2.12 x 2.61 x 3.72 x 0.92 x 1.25 x 0.9 x
EV / FCF 3.09 x -68.1 x 2.32 x 1.71 x 0.98 x 0.47 x
FCF Yield 32.3% -1.47% 43.1% 58.6% 102% 215%
Price to Book 0.75 x 0.82 x 0.98 x 0.9 x 0.8 x 0.68 x
Nbr of stocks (in thousands) 1,03,72,744 1,03,72,744 1,03,72,744 1,03,72,744 1,03,72,744 1,03,72,744
Reference price 2 1.400 1.910 2.200 2.200 2.200 2.200
Announcement Date 16/03/18 19/03/19 09/09/20 01/03/21 09/02/22 28/04/23
1NGN in Million2NGN
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Net sales 1 25,608 25,969 41,371 44,957 57,035 73,211
EBITDA 1 2,566 1,992 2,370 4,318 5,438 6,254
EBIT 1 2,443 1,873 2,237 4,167 5,278 6,058
Operating Margin 9.54% 7.21% 5.41% 9.27% 9.25% 8.27%
Earnings before Tax (EBT) 1 3,570 4,359 2,396 4,827 6,667 8,437
Net income 1 2,814 3,496 1,849 2,202 3,804 5,620
Net margin 10.99% 13.46% 4.47% 4.9% 6.67% 7.68%
EPS 2 0.2713 0.3370 0.1782 0.1760 0.3039 0.4490
Free Cash Flow 1 1,760 -76.33 3,797 2,323 6,937 12,116
FCF margin 6.87% -0.29% 9.18% 5.17% 12.16% 16.55%
FCF Conversion (EBITDA) 68.58% - 160.25% 53.81% 127.55% 193.73%
FCF Conversion (Net income) 62.55% - 205.41% 105.49% 182.33% 215.59%
Dividend per Share 2 0.1400 - - - - -
Announcement Date 16/03/18 19/03/19 09/09/20 01/03/21 09/02/22 28/04/23
1NGN in Million2NGN
Estimates

Balance Sheet Analysis

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Net Debt 1 - - - - - -
Net Cash position 1 9,079 14,610 14,001 18,854 16,037 17,173
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow 1 1,760 -76.3 3,797 2,323 6,937 12,116
ROE (net income / shareholders' equity) 12.2% 13.4% 6.41% 10.1% 13.5% 14.6%
ROA (Net income/ Total Assets) 3.66% 2.32% 2.25% 3.46% 3.48% 2.97%
Assets 1 76,821 1,50,475 82,250 63,641 1,09,310 1,89,064
Book Value Per Share 2 1.870 2.330 2.240 2.440 2.760 3.220
Cash Flow per Share 2 0.8800 1.410 1.360 1.520 1.300 1.380
Capex 1 1,246 935 1,093 1,161 251 222
Capex / Sales 4.87% 3.6% 2.64% 2.58% 0.44% 0.3%
Announcement Date 16/03/18 19/03/19 09/09/20 01/03/21 09/02/22 28/04/23
1NGN in Million2NGN
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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