Financials Aluminium Du Maroc SA

Equities

End-of-day quote Casablanca S.E. Other stock markets 18:00:00 2024-05-02 EDT			5-day change	1st Jan Change
1,572 ^MAD	-0.44%		+4.80%	+14.83%

04-30	Aluminium Du Maroc SA Reports Earnings Results for the Full Year Ended December 31, 2023	CI
2023	Aluminium Du Maroc SA Reports Earnings Results for the Half Year Ended June 30, 2023	CI

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Capitalization ¹	729.2	783.3	626.7	648.6	660.7	732.5	732.5	-
Enterprise Value (EV) ¹	729.2	1,181	626.7	1,064	1,308	637.9	1,216	732.5
P/E ratio	-	13 x	-	35.7 x	-	70.2 x	35.6 x	26.6 x
Yield	-	4.16%	-	7.18%	4.94%	4.45%	4.45%	4.45%
Capitalization / Revenue	0.79 x	0.88 x	0.69 x	0.55 x	0.47 x	0.5 x	0.56 x	0.51 x
EV / Revenue	0.79 x	1.32 x	0.69 x	0.91 x	0.92 x	0.5 x	0.93 x	0.51 x
EV / EBITDA	-	16.1 x	-	8.33 x	10.4 x	7.51 x	9.73 x	-
EV / FCF	-	24.7 x	-	-13.3 x	10.9 x	3.11 x	168 x	-
FCF Yield	-	4.04%	-	-7.52%	9.19%	32.1%	0.59%	-
Price to Book	-	-	-	-	-	-	-	-
Nbr of stocks (in thousands)	466	466	466	466	466	466	466	-
Reference price ²	1,565	1,681	1,345	1,392	1,418	1,572	1,572	1,572
Announcement Date	19-04-03	20-04-30	21-05-03	22-03-30	23-04-28	24-04-30	-	-

¹MAD in Million²MAD

Estimates

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net sales ¹	925.2	893.1	907.5	1,172	1,419	1,270	1,302	1,433
EBITDA ¹	-	73.12	-	127.7	125.6	84.91	125	-
EBIT ¹	-	60.34	-	127.6	122.7	84.21	94.7	-
Operating Margin	-	6.76%	-	10.89%	8.65%	6.63%	7.27%	-
Earnings before Tax (EBT)	-	-	33.66	-	-	-	-	-
Net income ¹	57.35	60.12	-	18.2	4.5	6.67	20.6	27.5
Net margin	6.2%	6.73%	-	1.55%	0.32%	0.53%	1.58%	1.92%
EPS ²	-	129.0	-	38.97	-	22.40	44.10	59.10
Free Cash Flow ¹	-	47.71	-	-80	120.2	383	7.23	-
FCF margin	-	5.34%	-	-6.83%	8.47%	31.76%	0.56%	-
FCF Conversion (EBITDA)	-	65.25%	-	-	95.7%	375.49%	5.78%	-
FCF Conversion (Net income)	-	79.36%	-	-	2,671.11%	3,682.69%	35.1%	-
Dividend per Share ²	-	70.00	-	100.0	70.00	70.00	70.00	70.00
Announcement Date	19-04-03	20-04-30	21-05-03	22-03-30	23-04-28	24-04-30	-	-

¹MAD in Million²MAD

Estimates

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net Debt ¹	-	397	-	415	647	460	484	-
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	5.436 x	-	3.252 x	5.154 x	4.51 x	3.872 x	-
Free Cash Flow ¹	-	47.7	-	-80	120	383	7.23	-
ROE (net income / shareholders' equity)	-	15.1%	-	5.92%	1.54%	4.01%	8.47%	11.8%
ROA (Net income/ Total Assets)	-	-	-	-	-	-	-	-
Assets ¹	-	-	-	-	-	-	-	-
Book Value Per Share	-	-	-	-	-	-	-	-
Cash Flow per Share	-	-	-	-	-	-	-	-
Capex ¹	-	16.2	-	23.4	12.7	13.2	13.7	-
Capex / Sales	-	1.81%	-	2%	0.9%	1.09%	1.05%	-
Announcement Date	19-04-03	20-04-30	21-05-03	22-03-30	23-04-28	24-04-30	-	-

¹MAD in Million

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

UNDERPERFORM

Number of Analysts

Last Close Price

1,572 MAD

Average target price

1,297 MAD

Spread / Average Target

-17.49%

	1st Jan change	Capi.
ALUMINIUM DU MAROC SA	+14.83%	72.88M
HINDALCO INDUSTRIES LIMITED	+5.23%	17.24B
NORSK HYDRO ASA	+1.37%	12.82B
HENAN SHENHUO COAL INDUSTARY AND ELECTRICITY POWER CORPORATION LIMITED	+29.23%	6.75B
ALCOA CORPORATION	+8.15%	6.6B
INNER MONGOLIA DIAN TOU ENERGY CORPORATION LIMITED	+47.65%	6.53B
EN+ GROUP INTERNATIONAL	-.--%	5.94B
NATIONAL ALUMINIUM COMPANY LIMITED	+40.28%	4.08B
SHENZHEN KEDALI INDUSTRY CO., LTD.	+12.86%	3.56B
ALUMINA LIMITED	+71.82%	2.98B