LUYANG ENERGY-SAVING MATERIALS CO., LTD.

Financials Luyang Energy-Saving Materials Co., Ltd.

Equities

002088

CNE000001PK1

Specialty Chemicals

End-of-day quote Shenzhen S.E. Other stock markets 03:30:00 30/04/2024 am IST			5-day change	1st Jan Change
13.25 ^CNY	-0.67%		-0.60%	-7.02%

26/04	Luyang Energy-Saving Materials Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
2023	Luyang Energy-Saving Materials Co., Ltd. completed the acquisition of Unifrax Co., Ltd. from UNIFRAX UK HOLD CO LTD.	CI

Valuation

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Capitalization ¹	3,066	3,863	4,011	13,165	11,706	6,709	6,709	-
Enterprise Value (EV) ¹	3,066	3,863	4,011	13,165	11,706	7,215	6,709	6,709
P/E ratio	9.96 x	11.1 x	10.7 x	24.5 x	20.1 x	14.7 x	11.6 x	9.71 x
Yield	7.67%	2.81%	-	2.69%	3.46%	5.61%	7.21%	7.5%
Capitalization / Revenue	1.66 x	1.8 x	1.72 x	4.16 x	3.47 x	2.05 x	1.74 x	1.64 x
EV / Revenue	1.66 x	1.8 x	1.72 x	4.16 x	3.47 x	2.05 x	1.74 x	1.64 x
EV / EBITDA	7.18 x	8.06 x	7.64 x	-	15.3 x	11 x	9.5 x	7.75 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	1.51 x	1.75 x	1.69 x	5 x	4.06 x	2.57 x	2.25 x	1.89 x
Nbr of stocks (in thousands)	5,06,741	5,06,383	5,06,358	5,06,333	5,06,333	5,06,333	5,06,333	-
Reference price ²	6.050	7.629	7.921	26.00	23.12	13.25	13.25	13.25
Announcement Date	24/02/19	27/02/20	26/02/21	18/02/22	09/03/23	26/04/24	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net sales ¹	1,842	2,147	2,326	3,164	3,370	3,519	3,854	4,098
EBITDA ¹	426.9	479	525	-	765.3	656.8	706	866.1
EBIT ¹	337.2	380.1	417.9	588.6	652.2	555.3	650.7	782.1
Operating Margin	18.3%	17.7%	17.97%	18.6%	19.35%	15.78%	16.88%	19.09%
Earnings before Tax (EBT) ¹	340.3	389.7	425.6	602.4	658.9	555.4	654	782.6
Net income ¹	307.2	340.3	370.1	534.7	582.3	492	577.3	690.8
Net margin	16.67%	15.85%	15.91%	16.9%	17.28%	13.98%	14.98%	16.86%
EPS ²	0.6071	0.6857	0.7429	1.060	1.150	0.9700	1.143	1.365
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	0.4643	0.2143	-	0.7000	0.8000	0.8000	0.9550	0.9933
Announcement Date	24/02/19	27/02/20	26/02/21	18/02/22	09/03/23	26/04/24	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2024 Q1
Net sales ¹	700.6
EBITDA	-
EBIT	-
Operating Margin	-
Earnings before Tax (EBT)	-
Net income	-
Net margin	-
EPS	-
Dividend per Share	-
Announcement Date	26/04/24

¹CNY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	16.1%	16.5%	16%	21.8%	21.4%	16.2%	19.5%	19.7%
ROA (Net income/ Total Assets)	11.7%	11.5%	11.6%	14.6%	15.1%	13.1%	13.9%	14.5%
Assets ¹	2,624	2,946	3,194	3,653	3,868	4,132	4,146	4,756
Book Value Per Share ²	4.010	4.350	4.690	5.200	5.690	5.540	5.880	7.010
Cash Flow per Share ²	0.4600	0.5300	0.8800	1.040	1.210	0.6500	1.590	1.220
Capex ¹	173	111	-	73.1	108	134	122	111
Capex / Sales	9.39%	5.16%	-	2.31%	3.19%	3.81%	3.17%	2.71%
Announcement Date	24/02/19	27/02/20	26/02/21	18/02/22	09/03/23	26/04/24	-	-

¹CNY in Million²CNY

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Luyang Energy-Saving Materials Co., Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

13.25 CNY

Average target price

21.33 CNY

Spread / Average Target

+61.01%

Consensus

EPS Revisions

Estimates Revisions

Annual profits - Rate of surprise

Company calendar

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