Financials Guaranty Trust Holding Company Plc London S.E.

Equities

Delayed London S.E. Other stock markets 11:35:13 2024-05-17 EDT			5-day change	1st Jan Change
1.94 ^USD	+0.52%		-6.73%	-28.15%

05-03	Guaranty Trust Holding Company Plc Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
04-12	Transcript : Guaranty Trust Holding Company Plc, 2023 Earnings Call, Apr 12, 2024

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	825,211	740,797	569,240	490,019	862,860	850,077	-	-
Enterprise Value (EV) ¹	825,211	740,797	569,240	490,019	862,860	850,077	850,077	850,077
P/E ratio	4.27 x	4.55 x	4.26 x	3.87 x	2.12 x	1.53 x	2.24 x	0.31 x
Yield	9.43%	9.27%	11.5%	13%	-	10.4%	13.6%	16.7%
Capitalization / Revenue	2.25 x	1.84 x	1.45 x	1.07 x	-	0.64 x	0.64 x	0.59 x
EV / Revenue	2.25 x	1.84 x	1.45 x	1.07 x	-	0.64 x	0.64 x	0.59 x
EV / EBITDA	-	-	-	-	-	-	-	-
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	1.24 x	1.14 x	0.89 x	0.74 x	-	0.72 x	0.6 x	0.51 x
Nbr of stocks (in thousands)	27,784,888	22,899,430	21,893,831	21,305,181	21,305,181	21,305,181	-	-
Reference price ²	29.70	32.35	26.00	23.00	40.50	39.90	39.90	39.90
Announcement Date	3/2/20	3/19/21	3/7/22	4/17/23	4/9/24	-	-	-

¹NGN in Million²NGN

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	367,490	401,916	393,056	459,983	-	1,322,660	1,318,104	1,442,374
EBITDA	-	-	-	-	-	-	-	-
EBIT ¹	236,519	254,477	230,029	226,141	712,262	618,623	716,259	817,387
Operating Margin	64.36%	63.32%	58.52%	49.16%	-	46.77%	54.34%	56.67%
Earnings before Tax (EBT) ¹	231,708	238,095	221,500	214,200	609,308	806,073	815,662	953,882
Net income ¹	195,382	199,609	172,107	166,737	534,425	768,720	611,194	700,863
Net margin	53.17%	49.66%	43.79%	36.25%	-	58.12%	46.37%	48.59%
EPS ²	6.960	7.110	6.100	5.950	19.07	26.12	17.80	129.2
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	2.800	3.000	3.000	3.000	-	4.155	5.443	6.655
Announcement Date	3/2/20	3/19/21	3/7/22	4/17/23	4/9/24	-	-	-

¹NGN in Million²NGN

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	37.4%	27.1%	20.6%	18.8%	-	43.1%	29.2%	25.8%
ROA (Net income/ Total Assets)	6.58%	4.59%	3.4%	2.81%	-	6.1%	4.1%	3.7%
Assets ¹	2,970,798	4,351,786	5,061,976	5,941,306	-	12,601,967	14,907,171	18,942,243
Book Value Per Share ²	24.00	28.40	29.40	31.00	-	55.20	66.00	77.70
Cash Flow per Share	-	-	-	-	-	-	-	-
Capex	-	-	-	-	-	-	-	-
Capex / Sales	-	-	-	-	-	-	-	-
Announcement Date	3/2/20	3/19/21	3/7/22	4/17/23	4/9/24	-	-	-

¹NGN in Million²NGN

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

39.9 NGN

Average target price

61.98 NGN

Spread / Average Target

+55.35%

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