Stock 600033 FUJIAN EXPRESSWAY DEVELOPMENT CO.,LTD
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Financials Fujian Expressway Development Co.,Ltd

Equities

600033

CNE000001717

Highways & Rail Tracks

End-of-day quote Shanghai S.E.
Other stock markets
 18:00:00 2024-04-29 EDT 		5-day change 1st Jan Change
3.38 CNY +1.81% Intraday chart for Fujian Expressway Development Co.,Ltd +1.81% +9.03%
04-29 Fujian Expressway Development Co.,Ltd Reports Earnings Results for the First Quarter Ended March 31, 2024 CI
04-17 Fujian Expressway Development Co.,Ltd Reports Earnings Results for the Full Year Ended December 31, 2023 CI

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 8,151 8,425 7,218 7,739 7,959 8,508
Enterprise Value (EV) 1 11,675 11,130 9,244 9,728 6,156 8,829
P/E ratio 11.1 x 10.2 x 16 x 9.33 x 32.2 x 9.43 x
Yield 5.05% 1.63% 3.8% 5.32% 5.17% 3.87%
Capitalization / Revenue 3.07 x 2.9 x 3.1 x 2.6 x 1.84 x 2.79 x
EV / Revenue 4.39 x 3.83 x 3.97 x 3.27 x 1.43 x 2.9 x
EV / EBITDA 5.34 x 4.6 x 4.95 x 3.93 x 20.9 x 3.52 x
EV / FCF 9.02 x 12 x 12.8 x 7.03 x 25.2 x 6.95 x
FCF Yield 11.1% 8.36% 7.8% 14.2% 3.97% 14.4%
Price to Book 0.9 x 0.89 x 0.73 x 0.74 x 2.84 x 0.76 x
Nbr of stocks (in thousands) 2,744,400 2,744,400 2,744,400 2,744,400 2,744,400 2,744,400
Reference price 2 2.970 3.070 2.630 2.820 2.900 3.100
Announcement Date 19-04-19 20-04-03 21-04-30 22-03-29 23-04-28 24-04-18
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 2,659 2,904 2,326 2,977 4,317 3,050
EBITDA 1 2,185 2,417 1,867 2,478 294.3 2,506
EBIT 1 1,543 1,735 1,094 1,645 251.5 1,581
Operating Margin 58.03% 59.76% 47.01% 55.25% 5.83% 51.86%
Earnings before Tax (EBT) 1 1,300 1,459 789.5 1,448 57.99 1,552
Net income 1 733.5 827.6 452.2 829.2 44.78 902.3
Net margin 27.58% 28.5% 19.44% 27.85% 1.04% 29.59%
EPS 2 0.2673 0.3016 0.1648 0.3021 0.0900 0.3288
Free Cash Flow 1 1,294 930.9 721.1 1,384 244.7 1,271
FCF margin 48.66% 32.05% 31% 46.49% 5.67% 41.69%
FCF Conversion (EBITDA) 59.21% 38.51% 38.63% 55.85% 83.14% 50.73%
FCF Conversion (Net income) 176.39% 112.48% 159.46% 166.9% 546.43% 140.9%
Dividend per Share 2 0.1500 0.0500 0.1000 0.1500 0.1500 0.1200
Announcement Date 19-04-19 20-04-03 21-04-30 22-03-29 23-04-28 24-04-18
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 3,524 2,704 2,026 1,989 - 321
Net Cash position 1 - - - - 1,802 -
Leverage (Debt/EBITDA) 1.613 x 1.119 x 1.085 x 0.8025 x - 0.1283 x
Free Cash Flow 1 1,294 931 721 1,384 245 1,271
ROE (net income / shareholders' equity) 8.86% 9.49% 4.84% 8.43% 1.66% 8.57%
ROA (Net income/ Total Assets) 5.52% 6.29% 4.1% 6.25% 4.11% 5.93%
Assets 1 13,284 13,151 11,034 13,260 1,089 15,224
Book Value Per Share 2 3.310 3.470 3.600 3.820 1.020 4.060
Cash Flow per Share 2 0.3600 0.4100 0.1300 0.1300 0.6700 0.4200
Capex 1 164 214 622 461 22.7 709
Capex / Sales 6.17% 7.37% 26.75% 15.49% 0.53% 23.25%
Announcement Date 19-04-19 20-04-03 21-04-30 22-03-29 23-04-28 24-04-18
1CNY in Million2CNY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Sector Highway Operators

1st Jan change Capi.
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GRUPO CCR S.A. Stock Grupo CCR S.A.
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