Financials PT Wismilak Inti Makmur Tbk

Equities

End-of-day quote INDONESIA S.E. Other stock markets 06:00:00 2024-04-28 pm EDT			5-day change	1st Jan Change
1,135 ^IDR	+3.18%		+0.89%	-36.06%

Mar. 27	PT Wismilak Inti Makmur Tbk Reports Earnings Results for the Full Year Ended December 31, 2023	CI
2023	PT Wismilak Inti Makmur Tbk Reports Earnings Results for the Nine Months Ended September 30, 2023	CI

Fiscal Period: December	2022	2024	2025
Capitalization ¹	1,322,920	2,356,003	-
Enterprise Value (EV) ²	1,323	1,211	964
P/E ratio	5.28 x	4.29 x	4.24 x
Yield	-	13.6%	14%
Capitalization / Revenue	0.36 x	0.42 x	0.39 x
EV / Revenue	0.36 x	0.22 x	0.16 x
EV / EBITDA	-	1.53 x	1.18 x
EV / FCF	-	2.85 x	2.51 x
FCF Yield	-	35%	39.9%
Price to Book	-	1.08 x	0.95 x
Nbr of stocks (in thousands)	2,099,874	2,075,773	-
Reference price ³	630.0	1,135	1,135
Announcement Date	3/29/23	-	-

¹IDR in Million²IDR in Billions³IDR

Estimates

Fiscal Period: December	2022	2024	2025
Net sales ¹	3,704	5,570	6,103
EBITDA ¹	-	791.4	820.1
EBIT ¹	-	729.7	752.7
Operating Margin	-	13.1%	12.33%
Earnings before Tax (EBT) ¹	-	703.3	712.4
Net income ¹	-	555.5	562.7
Net margin	-	9.97%	9.22%
EPS ²	119.3	264.5	268.0
Free Cash Flow ³	-	424,182	384,723
FCF margin	-	7,615.3%	6,303.34%
FCF Conversion (EBITDA)	-	53,601.51%	46,909.97%
FCF Conversion (Net income)	-	76,358.61%	68,371.5%
Dividend per Share ²	-	153.8	158.9
Announcement Date	3/29/23	-	-

¹IDR in Billions²IDR³IDR in Million

Estimates

Fiscal Period: December	2022	2024	2025
Net Debt ¹	-	-	-
Net Cash position ¹	-	1,145	1,392
Leverage (Debt/EBITDA)	-	-	-
Free Cash Flow ²	-	424,182	384,723
ROE (net income / shareholders' equity)	-	28.3%	25.8%
ROA (Net income/ Total Assets)	-	19.2%	17.8%
Assets ¹	-	2,901	3,161
Book Value Per Share ³	-	1,055	1,193
Cash Flow per Share	-	-	-
Capex ¹	-	143	149
Capex / Sales	-	2.57%	2.44%
Announcement Date	3/29/23	-	-

¹IDR in Billions²IDR in Million³IDR

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

1,135 IDR

Average target price

2,050 IDR

Spread / Average Target

+80.62%

	1st Jan change	Capi.
PT WISMILAK INTI MAKMUR TBK	-36.06%	145M
ALTRIA GROUP, INC.	+8.63%	75.27B
ITC LIMITED	-5.72%	65.56B
JAPAN TOBACCO, INC.	+16.46%	47.33B
KT&G CORPORATION	+3.34%	7.36B
PT HANJAYA MANDALA SAMPOERNA TBK	-5.59%	6.05B
RLX TECHNOLOGY INC.	-2.00%	2.49B
PT GUDANG GARAM TBK	-6.03%	2.26B
BRITISH AMERICAN TOBACCO BANGLADESH COMPANY LIMITED	-27.82%	1.84B
SCANDINAVIAN TOBACCO GROUP A/S	-3.50%	1.37B