Financials Asia Cement (China) Holdings Corporation

Equities

Market Closed - Hong Kong S.E. Other stock markets 04:08:22 2024-04-29 am EDT			5-day change	1st Jan Change
2.02 ^HKD	+5.21%		+9.78%	-17.21%

02:45pm	Asia Cement Holdings Corporation Announces Re-Designation of Directors	CI
Apr. 19	Asia Cement to Swing to Loss in Q1	MT

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Capitalization ¹	7,553	16,299	9,324	6,358	5,092	2,928	2,928	-
Enterprise Value (EV) ¹	9,175	14,671	7,020	331.5	-1,432	-4,009	-4,757	-4,922
P/E ratio	3.12 x	5.18 x	3.49 x	3.59 x	12.1 x	32.6 x	23.1 x	21.2 x
Yield	12.9%	4.81%	8.59%	11.1%	4.92%	1.85%	2.6%	2.82%
Capitalization / Revenue	0.67 x	1.29 x	0.86 x	0.54 x	0.53 x	0.47 x	0.41 x	0.41 x
EV / Revenue	0.81 x	1.16 x	0.65 x	0.03 x	-0.15 x	-0.54 x	-0.67 x	-0.69 x
EV / EBITDA	2.04 x	2.64 x	1.53 x	0.09 x	-1.04 x	-3.58 x	-4.94 x	-5.01 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	0.62 x	1.14 x	0.58 x	0.37 x	0.3 x	0.21 x	0.17 x	0.17 x
Nbr of stocks (in thousands)	1,566,851	1,566,851	1,566,851	1,566,851	1,566,851	1,566,851	1,566,851	-
Reference price ²	4.821	10.40	5.950	4.058	3.250	1.868	1.868	1.868
Announcement Date	3/20/19	3/24/20	4/1/21	3/30/22	3/3/23	3/4/24	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net sales ¹	11,330	12,609	10,824	11,756	9,614	7,427	7,115	7,145
EBITDA ¹	4,495	5,549	4,593	3,819	1,375	1,120	962.5	982.5
EBIT ¹	3,624	4,443	3,687	2,918	532.7	285.3	222.1	251.7
Operating Margin	31.99%	35.24%	34.06%	24.82%	5.54%	3.84%	3.12%	3.52%
Earnings before Tax (EBT)	-	-	-	-	-	-	-	-
Net income	-	-	-	-	-	-	-	-
Net margin	-	-	-	-	-	-	-	-
EPS ²	1.545	2.009	1.703	1.129	0.2680	0.0680	0.0810	0.0879
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	0.6200	0.5000	0.5110	0.4500	0.1600	0.0410	0.0486	0.0528
Announcement Date	3/20/19	3/24/20	4/1/21	3/30/22	3/3/23	3/4/24	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net Debt ¹	1,621	-	-	-	-	-	-	-
Net Cash position ¹	-	1,628	2,303	6,026	6,525	7,484	7,685	7,849
Leverage (Debt/EBITDA)	0.3607 x	-	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	22%	23.9%	17.5%	10.6%	2.45%	0.63%	0.75%	0.81%
ROA (Net income/ Total Assets)	-	-	-	-	-	-	-	-
Assets	-	-	-	-	-	-	-	-
Book Value Per Share ²	7.710	9.100	10.30	11.00	10.80	10.70	10.80	10.80
Cash Flow per Share ²	1.860	3.120	3.200	1.590	1.030	0.7100	0.5700	0.5600
Capex ¹	158	239	455	347	361	301	635	635
Capex / Sales	1.39%	1.9%	4.2%	2.95%	3.75%	4.05%	8.92%	8.89%
Announcement Date	3/20/19	3/24/20	4/1/21	3/30/22	3/3/23	3/4/24	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

1.868 CNY

Average target price

2.208 CNY

Spread / Average Target

+18.17%

	1st Jan change	Capi.
ASIA CEMENT (CHINA) HOLDINGS CORPORATION	-17.21%	384M
HOLCIM LTD	+19.57%	48.58B
JAMES HARDIE INDUSTRIES PLC	-3.74%	15.52B
ANHUI CONCH CEMENT COMPANY LIMITED	+3.55%	15.46B
SHREE CEMENT LIMITED	-15.73%	10.44B
EAGLE MATERIALS INC.	+27.35%	8.84B
DANGOTE CEMENT PLC	+105.28%	8.27B
TIANSHAN MATERIAL CO., LTD.	+4.79%	7.96B
TAIWAN CEMENT CORP.	-7.17%	7.34B
BUZZI S.P.A.	+24.55%	6.73B