KOREA MOVENEX CO., LTD.

Financials Korea Movenex Co., Ltd.

Equities

A010100

KR7010100006

Auto, Truck & Motorcycle Parts

End-of-day quote Korea S.E. Other stock markets 18:00:00 2024-05-19 EDT			5-day change	1st Jan Change
4,820 ^KRW	-0.52%		-4.55%	-47.95%

03-21	Korea Movenex Co., Ltd. Reports Earnings Results for the Full Year Ended December 31, 2023	CI
2023	Korea Movenex Co., Ltd. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023	CI

Valuation

Fiscal Period: December	2018	2019	2020	2021	2022	2023
Capitalization ¹	41,413	66,991	111,753	81,607	82,216	281,971
Enterprise Value (EV) ¹	186,211	168,488	186,626	158,500	169,382	353,181
P/E ratio	27.6 x	5.9 x	9.68 x	4.38 x	2.47 x	5.98 x
Yield	-	2.27%	1.36%	3.36%	2.59%	1.08%
Capitalization / Revenue	0.05 x	0.07 x	0.13 x	0.08 x	0.06 x	0.19 x
EV / Revenue	0.23 x	0.18 x	0.21 x	0.16 x	0.12 x	0.23 x
EV / EBITDA	5.72 x	3.58 x	4.04 x	2.67 x	2.36 x	3.78 x
EV / FCF	20.2 x	11.4 x	7.84 x	-26 x	39.1 x	17.3 x
FCF Yield	4.95%	8.75%	12.8%	-3.85%	2.56%	5.77%
Price to Book	0.2 x	0.31 x	0.5 x	0.32 x	0.28 x	0.86 x
Nbr of stocks (in thousands)	30,450	30,450	30,450	30,450	30,450	30,450
Reference price ²	1,360	2,200	3,670	2,680	2,700	9,260
Announcement Date	19-03-21	20-03-19	21-03-18	22-03-17	23-03-23	24-03-21

¹KRW in Million²KRW

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2018	2019	2020	2021	2022	2023
Net sales ¹	793,672	954,039	881,568	1,003,928	1,371,354	1,510,806
EBITDA ¹	32,548	47,076	46,179	59,295	71,737	93,465
EBIT ¹	2,331	15,077	13,874	26,202	37,005	59,330
Operating Margin	0.29%	1.58%	1.57%	2.61%	2.7%	3.93%
Earnings before Tax (EBT) ¹	1,315	20,836	14,718	34,192	44,487	75,105
Net income ¹	1,501	11,352	11,551	18,622	33,340	47,173
Net margin	0.19%	1.19%	1.31%	1.85%	2.43%	3.12%
EPS ²	49.31	372.8	379.0	611.6	1,095	1,549
Free Cash Flow ¹	9,221	14,745	23,803	-6,107	4,331	20,393
FCF margin	1.16%	1.55%	2.7%	-0.61%	0.32%	1.35%
FCF Conversion (EBITDA)	28.33%	31.32%	51.55%	-	6.04%	21.82%
FCF Conversion (Net income)	614.15%	129.89%	206.06%	-	12.99%	43.23%
Dividend per Share	-	50.00	50.00	90.00	70.00	100.0
Announcement Date	19-03-21	20-03-19	21-03-18	22-03-17	23-03-23	24-03-21

¹KRW in Million²KRW

Estimates

Balance Sheet Analysis

Fiscal Period: December	2018	2019	2020	2021	2022	2023
Net Debt ¹	144,798	101,497	74,873	76,893	87,166	71,210
Net Cash position ¹	-	-	-	-	-	-
Leverage (Debt/EBITDA)	4.449 x	2.156 x	1.621 x	1.297 x	1.215 x	0.7619 x
Free Cash Flow ¹	9,221	14,745	23,803	-6,107	4,331	20,393
ROE (net income / shareholders' equity)	-0.46%	4.87%	4.91%	7.91%	12.6%	15.7%
ROA (Net income/ Total Assets)	0.23%	1.46%	1.31%	2.4%	3.09%	4.43%
Assets ¹	656,216	778,757	879,439	777,453	1,080,273	1,064,888
Book Value Per Share ²	6,833	7,092	7,395	8,412	9,592	10,710
Cash Flow per Share ²	636.0	1,185	2,020	1,315	1,383	2,237
Capex ¹	29,561	29,569	32,908	41,963	45,002	73,996
Capex / Sales	3.72%	3.1%	3.73%	4.18%	3.28%	4.9%
Announcement Date	19-03-21	20-03-19	21-03-18	22-03-17	23-03-23	24-03-21

¹KRW in Million²KRW

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Sector Other Auto, Truck & Motorcycle Parts

	1st Jan change	Capi.
KOREA MOVENEX CO., LTD.	-47.95%	109M
DENSO CORPORATION	+22.78%	49.3B
APTIV PLC	-8.67%	22.34B
WEICHAI POWER CO., LTD.	+16.26%	19.84B
FUYAO GLASS INDUSTRY GROUP CO., LTD.	+27.60%	16.94B
HYUNDAI MOBIS CO.,LTD	-4.01%	15.1B
MAGNA INTERNATIONAL INC.	-17.45%	13.65B
CONTINENTAL AG	-19.11%	13.55B
SUMITOMO ELECTRIC INDUSTRIES, LTD.	+35.20%	11.9B
BOSCH LIMITED	+39.02%	10.92B

Other Auto, Truck & Motorcycle Parts

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