Financials EXEO Group, Inc.

Equities

1951

JP3254200003

Construction & Engineering

Market Closed - Japan Exchange Other stock markets 02:00:00 2024-09-13 EDT			5-day change	1st Jan Change
1,546.00 ^JPY	-1.34%		-2.74%	-1.37%

08-27	EXEO Group Disposes Shares as Restricted Stock Compensation	MT
08-01	EXEO Group, Inc. agreed to acquire Interactive Communication Design Co., Ltd.	CI

Projected Income Statement: EXEO Group, Inc.

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	524,574	573,339	594,840	627,607	614,095	632,539	656,668	678,983
Change	-	9.3%	3.75%	5.51%	-2.15%	3%	3.81%	3.4%
EBITDA ¹	39,560	45,276	49,794	41,252	44,263	45,787	48,012	51,083
Change	-	14.45%	9.98%	-17.15%	7.3%	3.44%	4.86%	6.4%
EBIT ¹	31,100	36,623	42,380	32,552	34,121	35,567	37,783	40,117
Change	-	17.76%	15.72%	-23.19%	4.82%	4.24%	6.23%	6.18%
Interest Paid ¹	-208	-148	-226	-640	-797	-1,000	-1,000	-1,000
Earnings before Tax (EBT) ¹	26,854	38,665	44,112	37,430	36,176	35,925	38,150	40,400
Change	-	43.98%	14.09%	-15.15%	-3.35%	-0.69%	6.19%	5.9%
Net income ¹	15,603	24,192	27,766	22,233	20,058	22,896	24,319	25,840
Change	-	55.05%	14.77%	-19.93%	-9.78%	14.15%	6.22%	6.25%
Announcement Date	5/14/20	5/14/21	5/13/22	5/12/23	5/10/24	-	-	-

¹JPY in Million

Estimates

Fiscal Period: March	2020 Q1	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4
Net sales ¹	91,722	120,580	121,437	190,835	106,146	118,719	123,258	225,216	120,257	140,682	134,371	199,530	120,883	144,302	152,141	210,281	124,382	140,792	138,213	210,708	125,415	143,294	157,928	209,144
Change	-	31.46%	0.71%	57.15%	-44.38%	11.85%	3.82%	82.72%	-46.6%	16.98%	-4.49%	48.49%	-39.42%	19.37%	5.43%	38.21%	-40.85%	13.19%	-1.83%	52.45%	-40.48%	13.99%	10.21%	32.43%
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	9,234	22,880	-	8,950	9,787	25,323
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	147.78%	-100%	-	9.35%	158.74%
EBIT ¹	3,982	6,784	6,805	13,529	4,162	7,040	7,596	17,825	8,378	8,650	7,561	17,791	3,716	4,834	6,715	17,287	2,494	6,718	5,917	18,992	2,938	6,791	7,409	18,642
Change	-	70.37%	0.31%	98.81%	-69.24%	69.15%	7.9%	134.66%	-53%	3.25%	-12.59%	135.3%	-79.11%	30.09%	38.91%	157.44%	-85.57%	169.37%	-11.92%	220.97%	-84.53%	129.41%	9.11%	151.6%
Charge d'intérêts	-81	-	-30	-	-42	-	-38	-	-39	-	-62	-	-104	-	-164	-	-203	-	-223	-	-246	-	-	-
Earnings before Tax (EBT) ¹	3,856	6,802	7,297	8,899	5,061	7,178	8,446	17,980	8,918	9,040	8,576	17,578	5,728	6,281	7,442	17,979	4,711	7,739	6,543	17,183	5,384	6,800	6,100	18,800
Change	-	76.4%	7.28%	21.95%	-43.13%	41.83%	17.67%	112.88%	-50.4%	1.37%	-5.13%	104.97%	-67.41%	9.65%	18.48%	141.59%	-73.8%	64.28%	-15.45%	162.62%	-68.67%	65.85%	-10.29%	208.2%
Net income ¹	2,344	3,931	4,565	4,763	3,071	4,383	5,121	11,617	5,530	5,636	5,092	11,508	2,912	3,698	4,172	11,451	2,615	4,726	3,651	9,066	3,009	4,294	4,314	11,725
Change	-	67.7%	16.13%	4.34%	-35.52%	42.72%	16.84%	126.85%	-52.4%	1.92%	-9.65%	126%	-74.7%	26.99%	12.82%	174.47%	-77.16%	80.73%	-22.75%	148.32%	-66.81%	101.11%	0.47%	171.79%
Announcement Date	8/9/19	11/12/19	2/13/20	5/14/20	8/7/20	11/11/20	2/10/21	5/14/21	8/6/21	11/10/21	2/10/22	5/13/22	8/10/22	11/11/22	2/10/23	5/12/23	8/10/23	11/10/23	2/9/24	5/10/24	8/9/24	-	-	-

¹JPY in Million

Estimates

Fiscal Period: March	2020 S2	2021 S1	2021 S2	2022 S1	2022 S2	2023 S1	2023 S2	2024 S1	2025 S1
Net sales ¹	312,272	224,865	348,474	260,939	333,901	265,185	362,422	265,174	270,000
Change	-	-27.99%	54.97%	-25.12%	27.96%	-20.58%	36.67%	-26.83%	1.82%
EBITDA	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-
EBIT ¹	-	11,202	25,421	17,028	25,352	8,550	24,002	9,212	10,000
Change	-	-	126.93%	-33.02%	48.88%	-66.27%	180.73%	-61.62%	8.55%
Charge d'intérêts	-	-79	-	-83	-	-223	-	-361	-
Earnings before Tax (EBT)	-	12,239	26,426	17,958	26,154	12,009	25,421	12,450	-
Change	-	-	115.92%	-32.04%	45.64%	-54.08%	111.68%	-51.02%	-100%
Net income ¹	-	7,454	16,738	11,166	16,600	6,610	15,623	7,341	6,600
Change	-	-	124.55%	-33.29%	48.67%	-60.18%	136.35%	-53.01%	-10.09%
Announcement Date	5/14/20	11/11/20	5/14/21	11/10/21	5/13/22	11/11/22	5/12/23	11/10/23	-

¹JPY in Million

Estimates

Forecast Balance Sheet: EXEO Group, Inc.

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	-2,666	12,651	23,152	60,664	54,136	65,749	51,628	48,462
Change	-	374.53%	83.01%	162.02%	-10.76%	21.45%	-21.48%	-6.13%
Announcement Date	5/14/20	5/14/21	5/13/22	5/12/23	5/10/24	-	-	-

¹JPY in Million

Estimates

Cash Flow Forecast: EXEO Group, Inc.

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	20,262	12,244	20,802	15,263	15,655	5,000	11,500	11,500
Change	-	-39.57%	69.9%	-26.63%	2.57%	-68.06%	130%	0%
Free Cash Flow (FCF) ¹	-2,963	-2,948	6,018	-7,849	28,311	18,200	19,200	18,850
Change	-	-0.51%	-304.14%	-230.43%	-460.7%	-35.71%	5.49%	-1.82%
Announcement Date	5/14/20	5/14/21	5/13/22	5/12/23	5/10/24	-	-	-

¹JPY in Million

Estimates

Forecast Financial Ratios: EXEO Group, Inc.

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	7.54%	7.9%	8.37%	6.57%	7.21%	7.24%	7.31%	7.52%
EBIT Margin (%)	5.93%	6.39%	7.12%	5.19%	5.56%	5.62%	5.75%	5.91%
EBT Margin (%)	5.12%	6.74%	7.42%	5.96%	5.89%	5.68%	5.81%	5.95%
Net margin (%)	2.97%	4.22%	4.67%	3.54%	3.27%	3.62%	3.7%	3.81%
FCF margin (%)	-0.56%	-0.51%	1.01%	-1.25%	4.61%	2.88%	2.92%	2.78%
FCF / Net Income (%)	-18.99%	-12.19%	21.67%	-35.3%	141.15%	79.49%	78.95%	72.95%
Profitability
ROA	7.12%	8.16%	8.8%	6.07%	6.31%	6%	4.8%	4.25%
ROE	5.9%	8.8%	9.4%	7.3%	6.5%	7.25%	7.54%	7.87%
Financial Health
Leverage (Debt/EBITDA)	-	0.28x	0.46x	1.47x	1.22x	1.44x	1.08x	0.95x
Debt / Free cash flow	-	-4.29x	3.85x	-7.73x	1.91x	3.61x	2.69x	2.57x
Capital Intensity
CAPEX / Current Assets (%)	3.86%	2.14%	3.5%	2.43%	2.55%	0.79%	1.75%	1.69%
CAPEX / EBITDA (%)	51.22%	27.04%	41.78%	37%	35.37%	10.92%	23.95%	22.51%
CAPEX / FCF (%)	-683.83%	-415.33%	345.66%	-194.46%	55.3%	27.47%	59.9%	61.01%
Items per share
Cash flow per share ¹	98.86	139.2	158.8	142.6	142.7	136.8	157.4	164.7
Change	-	40.76%	14.1%	-10.2%	0.06%	-4.11%	15.1%	4.6%
Dividend per Share ¹	40	41	48	51	60	61.83	63.39	65.3
Change	-	2.5%	17.07%	6.25%	17.65%	3.06%	2.51%	3.01%
Book Value Per Share ¹	1,198	1,288	1,374	1,416	1,490	1,533	1,587	1,652
Change	-	7.58%	6.65%	3.06%	5.2%	2.9%	3.52%	4.14%
EPS ¹	69.88	108.7	125.3	102.5	94.76	109.8	117.7	126
Change	-	55.51%	15.33%	-18.22%	-7.54%	15.83%	7.19%	7.11%
Nbr of stocks (in thousands)	223,603	221,199	221,845	214,404	210,367	208,315	208,315	208,315
Announcement Date	5/14/20	5/14/21	5/13/22	5/12/23	5/10/24	-	-	-