Financials Les Eaux Minérales d'Oulmès S.A.

Equities

End-of-day quote Casablanca S.E. Other stock markets 03:30:00 24/04/2024 am IST			5-day change	1st Jan Change
1,449 ^MAD	+2.40%		+8.54%	+7.41%

09/04	Les Eaux Minérales d'Oulmès S.A. Reports Earnings Results for the Full Year Ended December 31, 2023	CI
2023	Les Eaux Minérales d'Oulmès S.A. Reports Earnings Results for the Half Year Ended June 30, 2023	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	2,932	2,414	2,079	3,077	2,671	2,869	-	-
Enterprise Value (EV) ¹	4,219	3,630	3,149	4,218	2,671	4,190	4,197	2,869
P/E ratio	-	-	-	-	41.8 x	-	39 x	-
Yield	-	-	1.14%	1.06%	-	1.52%	1.52%	1.52%
Capitalization / Revenue	1.71 x	1.67 x	1.2 x	1.4 x	1.02 x	0.95 x	0.84 x	0.75 x
EV / Revenue	2.47 x	2.51 x	1.82 x	1.92 x	1.02 x	1.39 x	1.23 x	0.75 x
EV / EBITDA	16.6 x	15.4 x	10.2 x	13.5 x	6.35 x	8.84 x	7.92 x	-
EV / FCF	-28.4 x	99.7 x	17.8 x	-77.4 x	-	73.3 x	118 x	-
FCF Yield	-3.52%	1%	5.63%	-1.29%	-	1.37%	0.85%	-
Price to Book	-	-	-	-	-	-	-	-
Nbr of stocks (in thousands)	1,980	1,980	1,980	1,980	1,980	1,980	-	-
Reference price ²	1,481	1,219	1,050	1,554	1,349	1,449	1,449	1,449
Announcement Date	26/03/20	09/04/21	30/03/22	29/03/23	09/04/24	-	-	-

¹MAD in Million²MAD

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	1,710	1,448	1,734	2,196	2,625	3,018	3,417	3,837
EBITDA ¹	254.7	236.5	309.5	311.3	421	474	530	-
EBIT ¹	78.51	51.21	121.4	116.8	183.1	202	222	-
Operating Margin	4.59%	3.54%	7%	5.32%	6.98%	6.69%	6.5%	-
Earnings before Tax (EBT)	-	-	-	-	-	-	-	-
Net income ¹	12.1	-41.5	40.84	60.89	63.92	69.2	73.6	84.2
Net margin	0.71%	-2.87%	2.35%	2.77%	2.44%	2.29%	2.15%	2.19%
EPS	-	-	-	-	32.28	-	37.20	-
Free Cash Flow ¹	-148.3	36.4	177.2	-54.47	-	57.2	35.6	-
FCF margin	-8.67%	2.51%	10.22%	-2.48%	-	1.9%	1.04%	-
FCF Conversion (EBITDA)	-	15.39%	57.26%	-	-	12.07%	6.72%	-
FCF Conversion (Net income)	-	-	433.99%	-	-	82.66%	48.37%	-
Dividend per Share ²	-	-	12.00	16.50	-	22.00	22.00	22.00
Announcement Date	26/03/20	09/04/21	30/03/22	29/03/23	09/04/24	-	-	-

¹MAD in Million²MAD

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	1,286	1,217	1,070	1,141	-	1,321	1,328	-
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	5.051 x	5.144 x	3.456 x	3.664 x	-	2.787 x	2.506 x	-
Free Cash Flow ¹	-148	36.4	177	-54.5	-	57.2	35.6	-
ROE (net income / shareholders' equity)	1.5%	-6.78%	6.68%	9.34%	-	9.61%	9.84%	10.8%
ROA (Net income/ Total Assets)	-	-	-	-	-	-	-	-
Assets ¹	-	-	-	-	-	-	-	-
Book Value Per Share	-	-	-	-	-	-	-	-
Cash Flow per Share	-	-	-	-	-	-	-	-
Capex ¹	205	205	148	261	-	272	308	-
Capex / Sales	11.99%	14.13%	8.54%	11.87%	-	9.01%	9.01%	-
Announcement Date	26/03/20	09/04/21	30/03/22	29/03/23	09/04/24	-	-	-

¹MAD in Million

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

C+

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

1,449 MAD

Average target price

1,656 MAD

Spread / Average Target

+14.29%

	1st Jan change	Capi.
LES EAUX MINÉRALES D'OULMÈS S.A.	+7.41%	283M
KEURIG DR PEPPER INC.	+1.20%	45.71B
VARUN BEVERAGES LIMITED	+18.01%	22.74B
CELSIUS HOLDINGS, INC.	+34.19%	17.05B
ARCA CONTINENTAL, S.A.B. DE C.V.	-9.31%	16.6B
COCA-COLA HELLENIC	+11.50%	11.7B
SWIRE PACIFIC LIMITED	-1.51%	10.8B
SUNTORY BEVERAGE & FOOD LIMITED	+8.37%	9.89B
COCA-COLA CONSOLIDATED, INC.	-11.41%	7.71B
COCA-COLA IÇECEK ANONIM SIRKETI	+32.64%	5.46B