SOOSAN HEAVY INDUSTRIES CO., LTD.

Financials Soosan Heavy Industries Co., Ltd.

Equities

A017550

KR7017550005

Heavy Machinery & Vehicles

End-of-day quote Korea S.E. Other stock markets 03:30:00 13/05/2024 am IST			5-day change	1st Jan Change
2,030 ^KRW	-0.73%		+0.50%	-3.79%

2023	Soosan Heavy Industries Co., Ltd.(KOSE:A017550) dropped from S&P Global BMI Index	CI
2023	Soosan Heavy Industries Co., Ltd. announced that it has received KRW 19.999999559 billion in funding	CI

Valuation

Fiscal Period: December	2018	2019	2020	2021	2022	2023
Capitalization ¹	84,882	1,30,153	1,56,904	1,58,446	1,43,870	1,31,662
Enterprise Value (EV) ¹	1,46,680	1,80,225	2,10,528	1,84,809	1,88,997	1,46,284
P/E ratio	12.8 x	895 x	38.9 x	13.9 x	9.13 x	7.08 x
Yield	-	0.4%	0.33%	0.34%	0.38%	0.47%
Capitalization / Revenue	1 x	0.82 x	1.14 x	0.63 x	0.5 x	0.58 x
EV / Revenue	1.73 x	1.14 x	1.53 x	0.73 x	0.66 x	0.65 x
EV / EBITDA	48.1 x	14.6 x	18 x	9.66 x	6.87 x	6.84 x
EV / FCF	-5.18 x	18 x	9.75 x	-19.6 x	-10 x	42.3 x
FCF Yield	-19.3%	5.57%	10.3%	-5.11%	-10%	2.36%
Price to Book	0.86 x	1.3 x	1.51 x	1.3 x	1.04 x	0.75 x
Nbr of stocks (in thousands)	51,444	51,444	51,444	53,985	53,985	62,399
Reference price ²	1,650	2,530	3,050	2,935	2,665	2,110
Announcement Date	19/03/19	17/03/20	23/03/21	23/03/22	23/03/23	20/03/24

¹KRW in Million²KRW

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2018	2019	2020	2021	2022	2023
Net sales ¹	84,622	1,57,806	1,37,830	2,52,992	2,86,297	2,26,541
EBITDA ¹	3,048	12,378	11,726	19,136	27,493	21,385
EBIT ¹	391.6	7,129	6,942	14,192	22,559	16,580
Operating Margin	0.46%	4.52%	5.04%	5.61%	7.88%	7.32%
Earnings before Tax (EBT) ¹	8,795	1,958	5,071	14,175	20,268	19,186
Net income ¹	6,651	145.3	4,032	11,393	15,749	16,873
Net margin	7.86%	0.09%	2.93%	4.5%	5.5%	7.45%
EPS ²	129.3	2.825	78.37	211.3	291.9	297.9
Free Cash Flow ¹	-28,314	10,033	21,584	-9,448	-18,904	3,458
FCF margin	-33.46%	6.36%	15.66%	-3.73%	-6.6%	1.53%
FCF Conversion (EBITDA)	-	81.05%	184.07%	-	-	16.17%
FCF Conversion (Net income)	-	6,902.99%	535.35%	-	-	20.49%
Dividend per Share	-	10.00	10.00	10.00	10.00	10.00
Announcement Date	19/03/19	17/03/20	23/03/21	23/03/22	23/03/23	20/03/24

¹KRW in Million²KRW

Estimates

Balance Sheet Analysis

Fiscal Period: December	2018	2019	2020	2021	2022	2023
Net Debt ¹	61,797	50,073	53,624	26,363	45,126	14,622
Net Cash position ¹	-	-	-	-	-	-
Leverage (Debt/EBITDA)	20.27 x	4.045 x	4.573 x	1.378 x	1.641 x	0.6837 x
Free Cash Flow ¹	-28,314	10,033	21,584	-9,448	-18,904	3,458
ROE (net income / shareholders' equity)	6.95%	0.15%	3.95%	10.1%	12.1%	10.7%
ROA (Net income/ Total Assets)	0.16%	2.3%	2.07%	3.75%	5.66%	3.95%
Assets ¹	42,85,578	6,330	1,94,950	3,03,455	2,78,036	4,27,306
Book Value Per Share ²	1,924	1,951	2,015	2,261	2,566	2,813
Cash Flow per Share ²	185.0	178.0	508.0	531.0	397.0	473.0
Capex ¹	868	1,806	823	7,517	9,436	11,835
Capex / Sales	1.03%	1.14%	0.6%	2.97%	3.3%	5.22%
Announcement Date	19/03/19	17/03/20	23/03/21	23/03/22	23/03/23	20/03/24

¹KRW in Million²KRW

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Sector Heavy Trucks

	1st Jan change	Capi.
SOOSAN HEAVY INDUSTRIES CO., LTD.	-3.79%	93.17M
AB VOLVO	+8.14%	53.45B
SINOTRUK (HONG KONG) LIMITED	+34.79%	7.14B
ANHUI HELI CO.,LTD.	+52.11%	3.02B
SINOTRUK JINAN TRUCK CO.,LTD	+23.73%	2.65B
CIMC VEHICLES (GROUP) CO., LTD.	+7.79%	2.5B
MITSUBISHI LOGISNEXT CO., LTD.	+18.52%	1.08B
WABASH NATIONAL CORPORATION	-9.68%	1.05B
SHANGHAI NEW POWER AUTOMOTIVE TECHNOLOGY COMPANY LIMITED	-28.76%	702M
KAMAZ PUBLICLY TRADED COMPANY	-.--%	666M

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A017550 Stock
Financials Soosan Heavy Industries Co., Ltd.

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