Financials SPG Co., Ltd.

Equities

End-of-day quote Korea S.E. Other stock markets 03:30:00 13/05/2024 am IST			5-day change	1st Jan Change
28,100 ^KRW	-1.58%		-0.53%	-21.94%

06/05	Simon Property Q1 FFO, Revenue Increase	MT
06/03	New Zealand Shares Rise on Wednesday, Investore Property Declares Dividend Reinvestment Plan Issue Price	MT

Fiscal Period: December	2021	2023	2024	2025	2026
Capitalization ¹	2,53,323	7,98,385	6,23,184	-	-
Enterprise Value (EV) ²	253.3	798.4	664.3	668.5	672.3
P/E ratio	10.9 x	-	-	-	-
Yield	-	-	0.71%	0.8%	0.89%
Capitalization / Revenue	-	2.03 x	1.47 x	1.22 x	1.17 x
EV / Revenue	-	2.03 x	1.56 x	1.31 x	1.26 x
EV / EBITDA	-	-	21.7 x	18.1 x	14.7 x
EV / FCF	-	-	-6,643 x	955 x	292 x
FCF Yield	-	-	-0.02%	0.1%	0.34%
Price to Book	-	-	2.7 x	2.45 x	2.3 x
Nbr of stocks (in thousands)	21,377	22,177	22,177	-	-
Reference price ³	11,850	36,000	28,100	28,100	28,100
Announcement Date	17/03/22	19/03/24	-	-	-

¹KRW in Million²KRW in Billions³KRW

Estimates

Fiscal Period: December	2021	2023	2024	2025	2026
Net sales ¹	-	393.8	424.6	508.9	531.9
EBITDA ¹	-	-	30.6	36.9	45.8
EBIT ¹	-	15.97	23.3	33.6	37.6
Operating Margin	-	4.06%	5.49%	6.6%	7.07%
Earnings before Tax (EBT)	-	-	-	-	-
Net income	22.92	-	-	-	-
Net margin	-	-	-	-	-
EPS	1,092	-	-	-	-
Free Cash Flow ²	-	-	-100	700	2,300
FCF margin	-	-	-23.55%	137.55%	432.41%
FCF Conversion (EBITDA)	-	-	-	1,897.02%	5,021.83%
FCF Conversion (Net income)	-	-	-	-	-
Dividend per Share ³	-	-	200.0	225.0	250.0
Announcement Date	17/03/22	19/03/24	-	-	-

¹KRW in Billions²KRW in Million³KRW

Estimates

Fiscal Period: December	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4
Net sales ¹	97.57	96.94	101.3	104.6	107.8	111
EBITDA	-	-	-	-	-	-
EBIT ¹	-	2.648	5.1	5.6	6.1	6.6
Operating Margin	-	2.73%	5.03%	5.35%	5.66%	5.95%
Earnings before Tax (EBT)	-	-	-	-	-	-
Net income	-0.049	-	-	-	-	-
Net margin	-0.05%	-	-	-	-	-
EPS	-	-	-	-	-	-
Dividend per Share	-	-	-	-	-	-
Announcement Date	14/11/23	19/03/24	-	-	-	-

¹KRW in Billions

Estimates

Fiscal Period: December	2021	2023	2024	2025	2026
Net Debt ¹	-	-	41.1	45.3	49.1
Net Cash position ¹	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	1.343 x	1.228 x	1.072 x
Free Cash Flow ²	-	-	-100	700	2,300
ROE (net income / shareholders' equity)	-	-	7.4%	10.6%	11%
ROA (Net income/ Total Assets)	-	-	4.7%	5.7%	7.1%
Assets	-	-	-	-	-
Book Value Per Share ³	-	-	10,424	11,450	12,233
Cash Flow per Share ³	-	-	1,331	1,612	-
Capex ¹	-	-	14.5	15.3	16
Capex / Sales	-	-	3.41%	3.01%	3.01%
Announcement Date	17/03/22	19/03/24	-	-	-

¹KRW in Billions²KRW in Million³KRW

Estimates

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

28,100 KRW

Average target price

38,000 KRW

Spread / Average Target

+35.23%

	1st Jan change	Capi.
SPG CO., LTD.	-21.94%	46Cr
GENERAC HOLDINGS, INC.	+8.38%	849.03Cr
KEMPOWER OYJ	-31.93%	127.19Cr
SHANGHAI RUKING TECHNOLOGIES CO., LTD.	-29.54%	78Cr
HANGZHOU WEIGUANG ELECTRONIC CO.,LTD.	+7.22%	74Cr
NINGBO ZHONGDA LEADER INTELLIGENT TRANSMISSION CO., LTD.	-9.46%	69Cr
NEWONDER SPECIAL ELECTRIC CO.,LTD.	-7.51%	55Cr
ZHEJIANG DEHONG AUTOMOTIVE ELECTRONIC & ELECTRICAL CO., LTD.	-31.42%	39Cr
HONDA INDIA POWER PRODUCTS LIMITED	+2.89%	29Cr
ZHEJIANG DIBAY ELECTRIC CO.,LTD.	-13.32%	25Cr