Financials Arbonia AG

Equities

ARBN

CH0110240600

Construction Supplies & Fixtures

Market Closed - Swiss Exchange Other stock markets 11:31:30 2024-04-26 am EDT			5-day change	1st Jan Change
12.1 ^CHF	+2.54%		-1.14%	+25.65%

Apr. 18	Arbonia to Sell Climate Division to Midea Electrics Netherlands for EUR760 Million	MT
Apr. 18	Midea Electrics Netherlands BV signed an agreement to acquire Climate Division of Arbonia for an enterprise value of approximately CHF 740 million.	CI

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	867.2	979.8	1,424	892	667.9	839.1	-	-
Enterprise Value (EV) ¹	1,048	1,120	1,331	1,076	854.5	938.1	933	865.1
P/E ratio	33.2 x	21.8 x	10.2 x	46.1 x	-38.5 x	56.3 x	32.6 x	23 x
Yield	1.75%	3.32%	1.46%	2.32%	-	2.13%	2.78%	2.48%
Capitalization / Revenue	0.61 x	0.7 x	1.2 x	0.74 x	1.32 x	1.21 x	0.99 x	1.04 x
EV / Revenue	0.74 x	0.8 x	1.12 x	0.9 x	1.69 x	1.35 x	1.1 x	1.07 x
EV / EBITDA	8.42 x	7.1 x	10.7 x	9.94 x	26.9 x	14.5 x	10.1 x	8.97 x
EV / FCF	-872 x	24.5 x	-19.8 x	-5.47 x	36.5 x	25.2 x	11.8 x	12.5 x
FCF Yield	-0.11%	4.08%	-5.04%	-18.3%	2.74%	3.98%	8.46%	8.02%
Price to Book	1 x	1.1 x	1.36 x	0.89 x	0.73 x	0.86 x	0.95 x	1 x
Nbr of stocks (in thousands)	68,828	69,197	69,123	69,037	69,351	69,351	-	-
Reference price ²	12.60	14.16	20.60	12.92	9.630	12.10	12.10	12.10
Announcement Date	2/25/20	3/2/21	3/1/22	2/28/23	2/20/24	-	-	-

¹CHF in Million²CHF

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	1,416	1,396	1,186	1,202	504.6	694.4	848.8	809.6
EBITDA ¹	124.5	157.8	124.7	108.3	31.72	64.53	92.03	96.42
EBIT ¹	39.7	73.28	53.31	37	-8.858	12.39	34.11	44.87
Operating Margin	2.8%	5.25%	4.49%	3.08%	-1.76%	1.78%	4.02%	5.54%
Earnings before Tax (EBT) ¹	34.29	59.55	43.92	29.82	-24.02	14.2	40.6	71.3
Net income ¹	26.2	44.91	138.7	19.13	-17.21	14.5	25.93	41.62
Net margin	1.85%	3.22%	11.7%	1.59%	-3.41%	2.09%	3.05%	5.14%
EPS ²	0.3800	0.6500	2.010	0.2800	-0.2500	0.2150	0.3709	0.5255
Free Cash Flow ¹	-1.201	45.77	-67.1	-196.9	23.42	37.3	78.94	69.4
FCF margin	-0.08%	3.28%	-5.66%	-16.38%	4.64%	5.37%	9.3%	8.57%
FCF Conversion (EBITDA)	-	29%	-	-	73.82%	57.8%	85.77%	71.98%
FCF Conversion (Net income)	-	101.9%	-	-	-	257.33%	304.49%	166.76%
Dividend per Share ²	0.2200	0.4700	0.3000	0.3000	-	0.2575	0.3367	0.3000
Announcement Date	2/25/20	3/2/21	3/1/22	2/28/23	2/20/24	-	-	-

¹CHF in Million²CHF

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2020 S1	2020 S2	2021 S1	2022 S1	2023 S1
Net sales ¹	-	751.3	588.6	630.9	570.4
EBITDA ¹	-	103.4	67.58	52.43	44.88
EBIT ¹	-	-	34.9	17.83	6.202
Operating Margin	-	-	5.93%	2.83%	1.09%
Earnings before Tax (EBT)	-	53.59	-	17	-
Net income ¹	4.599	40.32	-	11.69	-2.039
Net margin	-	5.37%	-	1.85%	-0.36%
EPS	0.0700	-	-	-	-
Dividend per Share	-	-	-	-	-
Announcement Date	8/18/20	3/2/21	8/24/21	8/23/22	8/22/23

¹CHF in Million

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	181	141	-	184	187	99	93.9	26
Net Cash position ¹	-	-	93.2	-	-	-	-	-
Leverage (Debt/EBITDA)	1.451 x	0.8908 x	-	1.702 x	5.885 x	1.534 x	1.02 x	0.2697 x
Free Cash Flow ¹	-1.2	45.8	-67.1	-197	23.4	37.3	78.9	69.4
ROE (net income / shareholders' equity)	2.98%	5.09%	4.24%	1.88%	-1.31%	1.84%	2.82%	3.81%
ROA (Net income/ Total Assets)	-	-	-	-	-	-	-	-
Assets ¹	-	-	-	-	-	-	-	-
Book Value Per Share ²	12.60	12.90	15.10	14.40	13.30	14.10	12.70	12.10
Cash Flow per Share ²	1.600	2.000	1.340	-0.3700	1.460	9.700	0.7000	1.180
Capex ¹	113	95.5	145	158	77.6	67	56.9	50
Capex / Sales	7.98%	6.84%	12.23%	13.14%	15.37%	9.65%	6.71%	6.18%
Announcement Date	2/25/20	3/2/21	3/1/22	2/28/23	2/20/24	-	-	-

¹CHF in Million²CHF

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Arbonia AG

Trading Rating

Investor Rating

ESG Refinitiv

B+

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

12.1 CHF

Average target price

12.08 CHF

Spread / Average Target

-0.14%

Consensus

EPS Revisions

Estimates Revisions

Quarterly revenue - Rate of surprise

Company calendar

Sector Other Construction Supplies & Fixtures

	1st Jan change	Capi.
ARBONIA AG	+25.65%	917M
SAINT-GOBAIN	+12.87%	40.33B
ASSA ABLOY AB	+3.17%	30.34B
BUILDERS FIRSTSOURCE, INC.	+12.41%	22.89B
CARLISLE COMPANIES INCORPORATED	+28.21%	19.09B
MASCO CORPORATION	+4.28%	15.38B
TREX COMPANY, INC.	+9.35%	9.84B
FORTUNE BRANDS INNOVATIONS, INC.	-2.57%	9.32B
AGC INC.	+10.03%	7.75B
SIMPSON MANUFACTURING CO., INC.	-12.31%	7.37B

Other Construction Supplies & Fixtures