Financials SAL Saudi Logistics Services Company

Equities

4263

SA15T1L22JH8

Air Freight & Logistics

Market Closed - Saudi Arabian S.E. Other stock markets 05:50:04 29/05/2024 pm IST			5-day change	1st Jan Change
256.2 ^SAR	-1.99%		-6.77%	+31.79%

22/05	Tadawul Shares in Green as Saudi Racks Up Deals at Tokyo Business Forum	MT
22/05	SAL Saudi Logistics Signs 20-year Lease to Develop Cargo Facilities at Riyadh Airport	MT

Valuation

Fiscal Period: December	2023	2024	2025	2026
Capitalization ¹	15,552	20,496	-	-
Enterprise Value (EV) ¹	16,025	20,793	20,704	20,611
P/E ratio	30.5 x	28.7 x	27.6 x	23.6 x
Yield	2.26%	2.23%	2.41%	2.92%
Capitalization / Revenue	10.7 x	11.2 x	10.2 x	8.88 x
EV / Revenue	11 x	11.3 x	10.3 x	8.93 x
EV / EBITDA	22.2 x	22.3 x	21 x	19 x
EV / FCF	21.7 x	32.1 x	31.5 x	28.4 x
FCF Yield	4.61%	3.11%	3.18%	3.53%
Price to Book	12.6 x	13.3 x	12.1 x	9.92 x
Nbr of stocks (in thousands)	80,000	80,000	-	-
Reference price ²	194.4	256.2	256.2	256.2
Announcement Date	04/03/24	-	-	-

¹SAR in Million²SAR

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2022	2023	2024	2025	2026
Net sales ¹	-	1,456	1,832	2,005	2,308
EBITDA ¹	-	720.9	931.8	984.9	1,084
EBIT ¹	-	586.2	807.8	829.6	959.9
Operating Margin	-	40.27%	44.09%	41.38%	41.6%
Earnings before Tax (EBT) ¹	-	550.6	735	780.8	927.5
Net income ¹	362.4	509.7	680.5	730.2	867.5
Net margin	-	35.01%	37.15%	36.42%	37.59%
EPS ²	4.530	6.370	8.927	9.285	10.85
Free Cash Flow ¹	-	739.1	647	658	727
FCF margin	-	50.77%	35.32%	32.82%	31.5%
FCF Conversion (EBITDA)	-	102.52%	69.44%	66.81%	67.08%
FCF Conversion (Net income)	-	145%	95.08%	90.11%	83.8%
Dividend per Share ²	-	4.400	5.724	6.176	7.471
Announcement Date	12/09/23	04/03/24	-	-	-

¹SAR in Million²SAR

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2023 Q3	2023 Q4	2024 Q1
Net sales ¹	-	410.6	452.5
EBITDA	-	-	-
EBIT ¹	-	-	227.8
Operating Margin	-	-	50.35%
Earnings before Tax (EBT)	-	-	-
Net income ¹	116	-	208.4
Net margin	-	-	46.06%
EPS	1.450	-	-
Dividend per Share	-	-	-
Announcement Date	09/11/23	04/03/24	12/05/24

¹SAR in Million

Estimates

Balance Sheet Analysis

Fiscal Period: December	2022	2023	2024	2025	2026
Net Debt ¹	-	473	297	208	115
Net Cash position ¹	-	-	-	-	-
Leverage (Debt/EBITDA)	-	0.6562 x	0.3187 x	0.2111 x	0.1064 x
Free Cash Flow ¹	-	739	647	658	727
ROE (net income / shareholders' equity)	-	44.2%	48.4%	46.9%	45.3%
ROA (Net income/ Total Assets)	-	15.5%	20.9%	21.2%	20.2%
Assets ¹	-	3,284	3,256	3,445	4,295
Book Value Per Share ²	-	15.40	19.20	21.10	25.80
Cash Flow per Share ²	-	8.700	12.70	12.50	13.50
Capex ¹	-	69.6	181	213	270
Capex / Sales	-	4.78%	9.88%	10.61%	11.69%
Announcement Date	12/09/23	04/03/24	-	-	-

¹SAR in Million²SAR

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for SAL Saudi Logistics Services Company

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

256.2 SAR

Average target price

224.8 SAR

Spread / Average Target

-12.24%

Consensus

EPS Revisions

Estimates Revisions

Annual profits - Rate of surprise

Company calendar

Sector Freight Logistics

	1st Jan change	Capi.
SAL SAUDI LOGISTICS SERVICES COMPANY	+31.79%	5.58B
JD LOGISTICS, INC.	-9.92%	7.06B
ID LOGISTICS GROUP	+27.45%	2.65B
EXPOLANKA HOLDINGS PLC	+5.06%	976M
SHENZHEN EASTTOP SUPPLY CHAIN MANAGEMENT CO., LTD.	-9.90%	608M
CRYOPORT, INC.	-29.70%	548M
SHANDONG XINNENG TAISHAN POWER GENERATION CO.,LTD.	-28.99%	508M
CHINA MASTER LOGISTICS CO., LTD.	-5.03%	473M
SHANGHAI SHINE-LINK INTERNATIONAL LOGISTICS CO., LTD.	-11.58%	430M
ELANDERS AB	+9.79%	356M

Freight Logistics