Financials Malayan Flour Mills

Equities

End-of-day quote BURSA MALAYSIA Other stock markets 18:00:00 2024-05-02 EDT			5-day change	1st Jan Change
0.67 ^MYR	+0.75%		+0.75%	+4.69%

02-29	Malayan Flour Mills Berhad Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023	CI
02-29	Malayan Flour Mills Berhad Announces Second Interim Single Tier Dividend for the Financial Year Ended 31 December 2023, Payable on 29 March 2024	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	642.6	656.7	698.5	775.4	654.7	830.2	-	-
Enterprise Value (EV) ¹	642.6	656.7	698.5	775.4	654.7	830.2	830.2	830.2
P/E ratio	19.1 x	120 x	5.39 x	7.12 x	-98.5 x	8.82 x	6.91 x	5.78 x
Yield	4.69%	1.54%	2.92%	3.95%	4.69%	5.22%	5.97%	6.72%
Capitalization / Revenue	0.24 x	0.24 x	0.29 x	0.27 x	0.21 x	0.26 x	0.25 x	0.23 x
EV / Revenue	0.24 x	0.24 x	0.29 x	0.27 x	0.21 x	0.26 x	0.25 x	0.23 x
EV / EBITDA	4.24 x	5.26 x	2.97 x	4.62 x	3.95 x	3.86 x	3.57 x	3.31 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	0.56 x	0.61 x	0.56 x	0.57 x	0.49 x	0.6 x	0.57 x	0.54 x
Nbr of stocks (in thousands)	1,004,095	1,010,282	1,019,653	1,020,210	1,022,893	1,239,154	-	-
Reference price ²	0.6400	0.6500	0.6850	0.7600	0.6400	0.6700	0.6700	0.6700
Announcement Date	20-02-27	21-02-26	22-02-28	23-02-27	24-02-29	-	-	-

¹MYR in Million²MYR

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	2,682	2,681	2,427	2,916	3,149	3,152	3,373	3,605
EBITDA ¹	151.6	124.8	235.2	167.8	165.7	215.3	232.3	250.8
EBIT ¹	82.59	53.06	183.3	125.2	128.5	161.8	174.3	188.3
Operating Margin	3.08%	1.98%	7.55%	4.29%	4.08%	5.13%	5.17%	5.22%
Earnings before Tax (EBT) ¹	78.3	36.74	96.9	179.4	31.96	126.3	163	193.1
Net income ¹	43.25	5.413	173.9	145	-6.681	94.2	120.8	144.3
Net margin	1.61%	0.2%	7.17%	4.97%	-0.21%	2.99%	3.58%	4%
EPS ²	0.0335	0.005400	0.1272	0.1067	-0.006500	0.0760	0.0970	0.1160
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	0.0300	0.0100	0.0200	0.0300	0.0300	0.0350	0.0400	0.0450
Announcement Date	20-02-27	21-02-26	22-02-28	23-02-27	24-02-29	-	-	-

¹MYR in Million²MYR

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)	-	-	-	11.1%	-	6.9%	8.5%	9.6%
ROA (Net income/ Total Assets)	-	-	-	5.31%	-	-	-	-
Assets ¹	-	-	-	2,731	-	-	-	-
Book Value Per Share ²	1.140	1.060	1.230	1.340	1.310	1.120	1.180	1.250
Cash Flow per Share	-	-	-	-	-	-	-	-
Capex ¹	213	73.7	47.7	50.3	35.6	50	50	50
Capex / Sales	7.95%	2.75%	1.97%	1.72%	1.13%	1.59%	1.48%	1.39%
Announcement Date	20-02-27	21-02-26	22-02-28	23-02-27	24-02-29	-	-	-

¹MYR in Million²MYR

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

D+

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

0.67 MYR

Average target price

0.8 MYR

Spread / Average Target

+19.40%

	1st Jan change	Capi.
MALAYAN FLOUR MILLS	+4.69%	175M
LIEN HWA INDUSTRIAL HOLDINGS CORPORATION	-0.15%	3.25B
NIPPN CORPORATION	+9.40%	1.24B
MODERN MILLS COMPANY	0.00%	1.23B
SHOWA SANGYO CO., LTD.	+11.85%	774M
NITTO FUJI FLOUR MILLING CO.,LTD.	+10.37%	317M
SÖKE DEGIRMENCILIK SANAYI VE TICARET	+8.88%	210M
RFM CORPORATION	+8.33%	192M
OMAN FLOUR MILLS COMPANY SAOG	-9.80%	188M
ULUSOY UN SANAYI VE TICARET	+15.21%	177M