ALLTRONICS HOLDINGS LIMITED

Financials Alltronics Holdings Limited

Equities

833

KYG022791340

Electronic Equipment & Parts

Market Closed - Hong Kong S.E. Other stock markets 04:08:22 2024-05-10 EDT			5-day change	1st Jan Change
0.51 ^HKD	+2.00%		+5.15%	+5.15%

03-28	Alltronics Holdings Limited Proposes Final Dividend for the Year Ended 31 December 2023, Payable on 28 June 2024	CI
03-28	Alltronics Holdings Limited Reports Earnings Results for the Full Year Ended December 31, 2023	CI

Valuation

Fiscal Period: December	2017	2018	2019	2020	2021	2022
Capitalization ¹	2,403	1,116	411.6	473.1	279.1	255.5
Enterprise Value (EV) ¹	4,371	1,450	607.9	597.5	476.6	246.5
P/E ratio	21.7 x	10.7 x	-1.57 x	3.86 x	4.02 x	2.28 x
Yield	3.15%	-	-	7%	3.39%	7.41%
Capitalization / Revenue	1.79 x	0.87 x	0.33 x	0.21 x	0.17 x	0.15 x
EV / Revenue	3.26 x	1.13 x	0.48 x	0.27 x	0.29 x	0.14 x
EV / EBITDA	22.9 x	14.8 x	6.19 x	2.18 x	2.81 x	1.27 x
EV / FCF	-34.5 x	-6.73 x	1.44 x	3.2 x	-14.2 x	1.2 x
FCF Yield	-2.9%	-14.9%	69.3%	31.2%	-7.06%	83.4%
Price to Book	4.4 x	1.95 x	1.28 x	1.05 x	0.55 x	0.43 x
Nbr of stocks (in thousands)	473,058	473,058	473,058	473,058	473,058	473,058
Reference price ²	5.080	2.360	0.8700	1.000	0.5900	0.5400
Announcement Date	18-04-25	19-04-26	20-04-23	21-04-22	22-04-25	23-04-25

¹HKD in Million²HKD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2017	2018	2019	2020	2021	2022
Net sales ¹	1,341	1,285	1,261	2,204	1,656	1,732
EBITDA ¹	191	98.03	98.25	274.4	169.6	194.5
EBIT ¹	173.9	79.08	77.78	253.6	149	174.8
Operating Margin	12.97%	6.15%	6.17%	11.51%	9%	10.09%
Earnings before Tax (EBT) ¹	184.1	101.5	-320	180.6	95.32	146.7
Net income ¹	111	104.2	-262	122.4	69.35	112.1
Net margin	8.28%	8.11%	-20.78%	5.56%	4.19%	6.47%
EPS ²	0.2346	0.2203	-0.5540	0.2588	0.1466	0.2369
Free Cash Flow ¹	-126.6	-215.3	421.2	186.7	-33.65	205.4
FCF margin	-9.44%	-16.76%	33.41%	8.47%	-2.03%	11.86%
FCF Conversion (EBITDA)	-	-	428.74%	68.05%	-	105.62%
FCF Conversion (Net income)	-	-	-	152.48%	-	183.35%
Dividend per Share ²	0.1600	-	-	0.0700	0.0200	0.0400
Announcement Date	18-04-25	19-04-26	20-04-23	21-04-22	22-04-25	23-04-25

¹HKD in Million²HKD

Estimates

Balance Sheet Analysis

Fiscal Period: December	2017	2018	2019	2020	2021	2022
Net Debt ¹	1,968	333	196	124	198	-
Net Cash position ¹	-	-	-	-	-	8.97
Leverage (Debt/EBITDA)	10.31 x	3.399 x	1.999 x	0.4535 x	1.165 x	-
Free Cash Flow ¹	-127	-215	421	187	-33.6	205
ROE (net income / shareholders' equity)	23%	14%	-73.4%	32.3%	13.6%	21.6%
ROA (Net income/ Total Assets)	4.72%	1.33%	2%	13.8%	6.86%	8.45%
Assets ¹	2,353	7,848	-13,097	885.6	1,011	1,327
Book Value Per Share ²	1.160	1.210	0.6800	0.9600	1.070	1.250
Cash Flow per Share ²	0.3600	0.1400	0.1300	0.4000	0.2900	0.6100
Capex ¹	28.8	24.2	8.07	8.44	8.44	5.98
Capex / Sales	2.14%	1.88%	0.64%	0.38%	0.51%	0.35%
Announcement Date	18-04-25	19-04-26	20-04-23	21-04-22	22-04-25	23-04-25

¹HKD in Million²HKD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Sector Electronic Component

	1st Jan change	Capi.
ALLTRONICS HOLDINGS LIMITED	+5.15%	30.88M
AMPHENOL CORPORATION	+28.69%	76.62B
HON HAI PRECISION INDUSTRY CO., LTD.	+62.20%	72.38B
LUXSHARE PRECISION INDUSTRY CO., LTD.	-14.37%	29.31B
JABIL INC.	-7.42%	14.22B
AVIC JONHON OPTRONIC TECHNOLOGY CO.,LTD.	-7.23%	10.61B
LENS TECHNOLOGY CO., LTD.	+8.71%	9.81B
BYD ELECTRONIC (INTERNATIONAL) COMPANY LIMITED	-9.56%	9.54B
EOPTOLINK TECHNOLOGY INC., LTD.	+69.97%	8.24B
YAGEO CORPORATION	+6.37%	8.21B

Electronic Component

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Financials Alltronics Holdings Limited

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