Financials Interregional Distribution Grid Company of the North-West

Equities

MRKZ

RU000A0JPPB9

Electric Utilities

End-of-day quote Moscow Micex - RTS 06:00:00 2022-07-07 pm EDT 5-day change 1st Jan Change
0.0275 RUB +0.73% Intraday chart for Interregional Distribution Grid Company of the North-West -.--% -.--%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 5,316 5,120 5,201 4,986 2,634 2,634
Enterprise Value (EV) 1 20,709 20,183 20,990 21,349 18,378 14,763
P/E ratio 4.64 x 4.74 x -4.56 x -5.65 x -10.2 x -4.78 x
Yield - - - - - -
Capitalization / Revenue 0.08 x 0.1 x 0.11 x 0.1 x 0.05 x 0.05 x
EV / Revenue 0.32 x 0.41 x 0.44 x 0.42 x 0.34 x 0.27 x
EV / EBITDA 3 x 2.79 x 4.07 x 3.01 x 2.13 x 2.07 x
EV / FCF -17.8 x 7.55 x 51.1 x 1,116 x 25.8 x -6.14 x
FCF Yield -5.62% 13.3% 1.96% 0.09% 3.87% -16.3%
Price to Book 0.27 x 0.26 x 0.28 x 0.28 x 0.15 x 0.16 x
Nbr of stocks (in thousands) 95,785,923 95,785,923 95,785,923 95,785,923 95,785,923 95,785,923
Reference price 2 0.0555 0.0534 0.0543 0.0520 0.0275 0.0275
Announcement Date 3/19/19 3/12/20 3/11/21 3/15/22 3/22/23 3/18/24
1RUB in Million2RUB
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 64,854 49,136 48,253 50,352 53,307 53,710
EBITDA 1 6,909 7,234 5,160 7,089 8,645 7,139
EBIT 1 2,714 2,899 755.6 2,834 4,119 2,615
Operating Margin 4.18% 5.9% 1.57% 5.63% 7.73% 4.87%
Earnings before Tax (EBT) 1 1,573 1,399 -1,272 -1,020 -212.7 -1,140
Net income 1 1,146 1,081 -1,141 -882.8 -259.2 -551
Net margin 1.77% 2.2% -2.36% -1.75% -0.49% -1.03%
EPS 2 0.0120 0.0113 -0.0119 -0.009216 -0.002705 -0.005752
Free Cash Flow 1 -1,164 2,674 410.9 19.13 712.1 -2,405
FCF margin -1.79% 5.44% 0.85% 0.04% 1.34% -4.48%
FCF Conversion (EBITDA) - 36.97% 7.96% 0.27% 8.24% -
FCF Conversion (Net income) - 247.46% - - - -
Dividend per Share - - - - - -
Announcement Date 3/19/19 3/12/20 3/11/21 3/15/22 3/22/23 3/18/24
1RUB in Million2RUB
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 15,393 15,063 15,789 16,364 15,744 12,129
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 2.228 x 2.082 x 3.06 x 2.308 x 1.821 x 1.699 x
Free Cash Flow 1 -1,164 2,674 411 19.1 712 -2,405
ROE (net income / shareholders' equity) 6.1% 5.52% -5.94% -4.87% -1.47% -5.95%
ROA (Net income/ Total Assets) 3.41% 3.61% 0.96% 3.59% 4.91% 2.95%
Assets 1 33,629 29,971 -118,358 -24,564 -5,275 -18,653
Book Value Per Share 2 0.2000 0.2100 0.1900 0.1800 0.1800 0.1800
Cash Flow per Share 2 0 0 0.0100 0.0100 0.0400 0.0400
Capex 1 7,516 4,747 4,244 5,429 5,742 7,603
Capex / Sales 11.59% 9.66% 8.8% 10.78% 10.77% 14.16%
Announcement Date 3/19/19 3/12/20 3/11/21 3/15/22 3/22/23 3/18/24
1RUB in Million2RUB
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Chiffre d''affaires - Rate of surprise

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