Financials Mena Transport

Equities

MENA

THA369010006

Ground Freight & Logistics

End-of-day quote Thailand S.E. Other stock markets 03:30:00 31/05/2024 am IST			5-day change	1st Jan Change
1.32 ^THB	-4.35%		-8.33%	-41.59%

10/05	Mena Transport Public Company Limited Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
23/04	Mena Transport Public Company Limited Approves the Payment Dividend, Payable Within May 17, 2024	CI

Valuation

Fiscal Period: December	2023	2024	2025	2026
Capitalization ¹	1,659	968.9	-	-
Enterprise Value (EV) ¹	1,946	1,003	1,028	1,012
P/E ratio	22.6 x	12 x	10.2 x	8.8 x
Yield	1.33%	2.27%	3.03%	3.79%
Capitalization / Revenue	2.1 x	1.14 x	1.04 x	0.99 x
EV / Revenue	2.47 x	1.18 x	1.11 x	1.03 x
EV / EBITDA	14.8 x	5.31 x	4.69 x	4.16 x
EV / FCF	90 x	201 x	-114 x	-169 x
FCF Yield	1.11%	0.5%	-0.88%	-0.59%
Price to Book	1.84 x	1 x	0.92 x	0.85 x
Nbr of stocks (in thousands)	7,34,000	7,34,000	-	-
Reference price ²	2.260	1.320	1.320	1.320
Announcement Date	29/02/24	-	-	-

¹THB in Million²THB

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2023	2024	2025	2026
Net sales ¹	789.1	847	929	978
EBITDA ¹	131.4	189	219	243
EBIT ¹	78.46	64	76	81
Operating Margin	9.94%	7.56%	8.18%	8.28%
Earnings before Tax (EBT) ¹	83.64	92	110	127
Net income ¹	71.43	78	97	113
Net margin	9.05%	9.21%	10.44%	11.55%
EPS ²	0.1000	0.1100	0.1300	0.1500
Free Cash Flow ¹	21.63	5	-9	-6
FCF margin	2.74%	0.59%	-0.97%	-0.61%
FCF Conversion (EBITDA)	16.46%	2.65%	-	-
FCF Conversion (Net income)	30.28%	6.41%	-	-
Dividend per Share ²	0.0300	0.0300	0.0400	0.0500
Announcement Date	29/02/24	-	-	-

¹THB in Million²THB

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2023 Q2	2023 Q3	2023 Q4	2024 Q1
Net sales ¹	-	195.8	201.6	196.5
EBITDA ¹	29.39	36.06	-	26.39
EBIT ¹	16.22	22.56	17.71	10.43
Operating Margin	-	11.52%	8.78%	5.31%
Earnings before Tax (EBT) ¹	-	25.63	21.84	12.32
Net income ¹	-	22.42	18.35	10.78
Net margin	-	11.45%	9.1%	5.49%
EPS ²	-	0.0300	0.0300	0.0100
Dividend per Share	-	-	-	-
Announcement Date	15/08/23	10/11/23	29/02/24	10/05/24

¹THB in Million²THB

Estimates

Balance Sheet Analysis

Fiscal Period: December	2023	2024	2025	2026
Net Debt ¹	287	34	59	43
Net Cash position ¹	-	-	-	-
Leverage (Debt/EBITDA)	2.183 x	0.1799 x	0.2694 x	0.177 x
Free Cash Flow ¹	21.6	5	-9	-6
ROE (net income / shareholders' equity)	8.13%	8.4%	9.6%	10.3%
ROA (Net income/ Total Assets)	-	-	-	-
Assets ¹	-	-	-	-
Book Value Per Share ²	1.230	1.320	1.430	1.560
Cash Flow per Share	-	-	-	-
Capex	-	-	-	-
Capex / Sales	-	-	-	-
Announcement Date	29/02/24	-	-	-

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 Mena Transport

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

1.32 THB

Average target price

1.92 THB

Spread / Average Target

+45.45%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Other Ground Freight & Logistics

	1st Jan change	Capi.
MENA TRANSPORT	-41.59%	2.63Cr
CANADIAN NATIONAL RAILWAY COMPANY	+4.17%	8.1TCr
CANADIAN PACIFIC KANSAS CITY LIMITED	+3.48%	7.42TCr
KANSAS CITY SOUTHERN	-.--%	2.67TCr
XPO, INC.	+22.14%	1.24TCr
U-HAUL HOLDING COMPANY	-11.94%	1.2TCr
C.H. ROBINSON WORLDWIDE, INC.	-0.01%	1.01TCr
KNIGHT-SWIFT TRANSPORTATION HOLDINGS INC.	-16.31%	779.77Cr
RUMO S.A.	-14.12%	695.49Cr
AYVENS	+6.52%	607.49Cr

Other Ground Freight & Logistics