Financials INET Freehold and Leasehold Real Estate Investment Trust

Equities

End-of-day quote Thailand S.E. Other stock markets 03:30:00 17/05/2024 am IST			5-day change	1st Jan Change
8.35 ^THB	-0.60%		0.00%	-14.36%

10/05	Inet Leasehold Real Estate Investment Trust Announces Distribution Period from January 01, 2024 to March 31, 2024, Payable on June 10, 2024	CI
04/04	INET LEASEHOLD REAL ESTATE INVESTMENT TRUST will Change its Name to INET FREEHOLD AND LEASEHOLD REAL ESTATE	CI

Fiscal Period: December	2021	2022	2023	2024	2025
Capitalization ¹	3,762	3,218	4,212	4,212	-
Enterprise Value (EV) ¹	3,762	3,218	4,212	4,212	4,212
P/E ratio	29.4 x	-	-	8.79 x	8.7 x
Yield	1.99%	-	8.98%	8.98%	8.98%
Capitalization / Revenue	22.9 x	8.09 x	10.6 x	10.6 x	10.6 x
EV / Revenue	22.9 x	8.09 x	10.6 x	10.6 x	10.6 x
EV / EBITDA	26 x	9.96 x	11.6 x	11.6 x	11.6 x
EV / FCF	-	-	-	-	-
FCF Yield	-	-	-	-	-
Price to Book	1.07 x	-	0.73 x	0.71 x	0.7 x
Nbr of stocks (in thousands)	3,30,000	3,30,000	5,04,476	5,04,476	-
Reference price ²	11.40	9.750	8.350	8.350	8.350
Announcement Date	05/04/22	26/04/23	-	-	-

¹THB in Million²THB

Estimates

Fiscal Period: December	2021	2022	2023	2024	2025
Net sales ¹	163.9	397.6	397	397	397
EBITDA ¹	144.9	323.1	364	363	364
EBIT	-	-	-	-	-
Operating Margin	-	-	-	-	-
Earnings before Tax (EBT)	-	323.1	-	314	317
Net income ¹	-	502.4	309	314	317
Net margin	-	126.37%	77.83%	79.09%	79.85%
EPS	0.3880	-	-	0.9500	0.9600
Free Cash Flow	-	-	-	-	-
FCF margin	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-
Dividend per Share ²	0.2270	-	0.7500	0.7500	0.7500
Announcement Date	05/04/22	26/04/23	-	-	-

¹THB in Million²THB

Estimates

Fiscal Period: December	2021	2022	2023	2024	2025
Net Debt	-	-	-	-	-
Net Cash position	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-
Free Cash Flow	-	-	-	-	-
ROE (net income / shareholders' equity)	-	-	8.3%	8.2%	8.1%
ROA (Net income/ Total Assets)	-	-	6.6%	6.6%	6.7%
Assets ¹	-	-	4,682	4,758	4,731
Book Value Per Share ²	10.70	-	11.50	11.70	11.90
Cash Flow per Share	-	-	-	-	-
Capex	-	-	-	-	-
Capex / Sales	-	-	-	-	-
Announcement Date	05/04/22	26/04/23	-	-	-

¹THB in Million²THB

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

8.35 THB

Average target price

12.3 THB

Spread / Average Target

+47.31%

	1st Jan change	Capi.
INET FREEHOLD AND LEASEHOLD REAL ESTATE INVESTMENT TRUST	-14.36%	12Cr
REALTY INCOME CORPORATION	-3.99%	4.81TCr
ALEXANDRIA REAL ESTATE EQUITIES, INC.	-2.05%	2.17TCr
SEGRO PLC	+4.54%	1.61TCr
UNIBAIL-RODAMCO-WESTFIELD SE	+18.92%	1.21TCr
CAPITALAND INTEGRATED COMMERCIAL TRUST	-4.37%	995.42Cr
CAPITALAND ASCENDAS REIT	-12.54%	868.44Cr
FEDERAL REALTY INVESTMENT TRUST	-0.70%	843.01Cr
KLÉPIERRE	+3.16%	796.09Cr
FIBRA UNO	-16.85%	579.51Cr