Financials SMT Scharf AG

Equities

S4AA

DE000A3DRAE2

Mining Support Services & Equipment

Market Closed - Xetra Other stock markets 11:36:28 2024-04-26 am EDT			5-day change	1st Jan Change
6.7 ^EUR	+1.52%		+3.88%	+4.69%

Apr. 10	SMT Scharf AG Reports Earnings Results for the Full Year Ended December 31, 2023	CI
Mar. 22	Germany’s SMT Scharf Secures Transport Systems Contract in Middle East	MT

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	45.71	39.67	77.7	63.47	35.02	36.66	-	-
Enterprise Value (EV) ¹	56.14	51.85	89.98	63.47	35.02	43.76	35.46	27.86
P/E ratio	8.33 x	-4.85 x	5.8 x	4.25 x	7.19 x	10.3 x	9.34 x	7.42 x
Yield	-	-	-	-	-	-	-	-
Capitalization / Revenue	0.61 x	0.79 x	0.9 x	0.68 x	0.48 x	0.49 x	0.45 x	0.42 x
EV / Revenue	0.74 x	1.03 x	1.05 x	0.68 x	0.48 x	0.59 x	0.43 x	0.32 x
EV / EBITDA	5.81 x	-35.9 x	6.48 x	3.73 x	4.87 x	8.79 x	5.26 x	3.39 x
EV / FCF	97.1 x	39.4 x	-13.1 x	14.2 x	-	5.06 x	4.27 x	3.62 x
FCF Yield	1.03%	2.54%	-7.65%	7.02%	-	19.8%	23.4%	27.6%
Price to Book	0.77 x	0.84 x	1.11 x	0.74 x	-	0.42 x	0.41 x	0.38 x
Nbr of stocks (in thousands)	4,571	4,571	5,472	5,472	5,472	5,472	-	-
Reference price ²	10.00	8.680	14.20	11.60	6.400	6.700	6.700	6.700
Announcement Date	3/30/20	3/31/21	3/31/22	4/11/23	4/10/24	-	-	-

¹EUR in Million²EUR

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	75.39	50.2	85.87	93.71	73.17	74.45	81.95	87.63
EBITDA ¹	9.667	-1.445	13.89	17.02	7.196	4.981	6.743	8.224
EBIT ¹	6.822	-8.1	11.24	14.32	3.952	2.706	4.543	6.126
Operating Margin	9.05%	-16.14%	13.09%	15.28%	5.4%	3.63%	5.54%	6.99%
Earnings before Tax (EBT) ¹	7.221	-6.729	14.1	18.64	7.602	5	5.643	7.276
Net income ¹	5.499	-8.168	12.56	14.54	4.881	3.6	3.927	4.978
Net margin	7.29%	-16.27%	14.62%	15.52%	6.67%	4.84%	4.79%	5.68%
EPS ²	1.200	-1.790	2.450	2.730	0.8900	0.6500	0.7172	0.9027
Free Cash Flow ¹	0.578	1.317	-6.883	4.457	-	8.65	8.3	7.7
FCF margin	0.77%	2.62%	-8.02%	4.76%	-	11.62%	10.13%	8.79%
FCF Conversion (EBITDA)	5.98%	-	-	26.19%	-	173.65%	123.09%	93.63%
FCF Conversion (Net income)	10.51%	-	-	30.65%	-	240.28%	211.34%	154.68%
Dividend per Share ²	-	-	-	-	-	-	-	-
Announcement Date	3/30/20	3/31/21	3/31/22	4/11/23	4/10/24	-	-	-

¹EUR in Million²EUR

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2020 S1	2021 Q3	2023 Q2	2024 Q1
Net sales	23.63	23.07	18.89	-
EBITDA	-	-	-	-
EBIT ¹	-1.814	-	-	-1
Operating Margin	-7.68%	-	-	-
Earnings before Tax (EBT)	-	-	-	-
Net income	-1.338	-	-0.018	-
Net margin	-5.66%	-	-0.1%	-
EPS	-	-	-	-
Dividend per Share	-	-	-	-
Announcement Date	8/14/20	11/12/21	8/14/23	-

¹EUR in Million

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	10.4	12.2	12.3	-	-	7.1	-	-
Net Cash position ¹	-	-	-	-	-	-	1.2	8.8
Leverage (Debt/EBITDA)	1.08 x	-8.423 x	0.8842 x	-	-	1.425 x	-	-
Free Cash Flow ¹	0.58	1.32	-6.88	4.46	-	8.65	8.3	7.7
ROE (net income / shareholders' equity)	9.95%	-15.4%	21.4%	18.7%	-	2.99%	4.43%	5.33%
ROA (Net income/ Total Assets)	6.15%	-9.11%	12.3%	11.5%	-	2.8%	3%	3.1%
Assets ¹	89.48	89.69	102.4	126.2	-	128.6	130.9	160.6
Book Value Per Share ²	12.90	10.30	12.80	15.60	-	15.80	16.50	17.50
Cash Flow per Share	-	-	-	-	-	-	-	-
Capex ¹	2.41	1.47	1.38	1.22	-	2.75	3.3	3.25
Capex / Sales	3.2%	2.93%	1.61%	1.3%	-	3.69%	4.03%	3.71%
Announcement Date	3/30/20	3/31/21	3/31/22	4/11/23	4/10/24	-	-	-

¹EUR in Million²EUR

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for SMT Scharf AG

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

6.7 EUR

Average target price

11 EUR

Spread / Average Target

+64.18%

Consensus

EPS Revisions

Estimates Revisions

Annual profits - Rate of surprise

Company calendar

Sector Mining Machinery & Equipment Manufacturing

	1st Jan change	Capi.
SMT SCHARF AG	+4.69%	39.14M
ZHENGZHOU COAL MINING MACHINERY GROUP COMPANY LIMITED	+29.09%	3.84B
SANY HEAVY EQUIPMENT INTERNATIONAL HOLDINGS COMPANY LIMITED	-33.11%	2.06B
SHANDONG MINING MACHINERY GROUP CO., LTD.	+9.31%	780M
NAIPU MINING MACHINERY CO., LTD.	+19.15%	586M
SHANGHAI CHUANGLI GROUP CO., LTD.	-9.31%	481M
LINZHOU HEAVY MACHINERY GROUP CO.,LTD	-11.85%	452M
NANCHANG MINERAL SYSTEMS CO., LTD.	-19.78%	393M
BGRIMM TECHNOLOGY CO., LTD.	-19.95%	370M
GRENEVIA S.A.	-29.55%	335M

Mining Machinery & Equipment Manufacturing