Company Valuation: Thrace Plastics Holding Company S.A.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 297.7 170.2 179.9 168.1 173.1 215.1 - -
Change - -42.81% 5.67% -6.57% 3.01% 24.22% - -
Enterprise Value (EV) 1 288.4 191.7 196.2 202.5 230.1 279.3 267.9 246.9
Change - -33.53% 2.35% 3.22% 13.61% 21.39% -4.08% -7.84%
P/E 4.15x 6.63x 10.1x 16.2x 9.23x 10.8x 9.75x 9.13x
PBR - - - - - - - -
PEG - -0.1x -0.3x -0.4x 0.1x 1.75x 0.9x 1.34x
Capitalization / Revenue 0.69x 0.43x 0.52x 0.45x 0.44x 0.51x 0.48x 0.46x
EV / Revenue 0.67x 0.49x 0.57x 0.55x 0.59x 0.66x 0.6x 0.53x
EV / EBITDA 2.73x 3.97x 4.46x 4.79x 4.77x 4.87x 4.37x 3.81x
EV / EBIT 3.36x 6.85x 9.5x 12.9x 11.2x 10.2x 8.83x 7.73x
EV / FCF 5.08x - 11.8x 271x -17.8x 25x 11.2x 8.04x
FCF Yield 19.7% - 8.45% 0.37% -5.62% 3.99% 8.92% 12.4%
Dividend per Share 2 0.2723 0.2617 0.2388 0.2357 0.2343 0.2715 0.2885 0.3
Rate of return 3.95% 6.61% 5.7% 6.01% 5.8% 5.41% 5.75% 5.98%
EPS 2 1.661 0.5977 0.413 0.2415 0.4379 0.465 0.515 0.55
Distribution rate 16.4% 43.8% 57.8% 97.6% 53.5% 58.4% 56% 54.5%
Net sales 1 428.4 394.4 345.4 370.4 389.6 424.1 449 469.6
EBITDA 1 105.8 48.26 44.02 42.26 48.22 57.3 61.25 64.8
EBIT 1 85.92 28 20.66 15.66 20.61 27.4 30.35 31.95
Net income 1 72.03 25.74 18.33 10.36 18.77 20.15 22.4 24.2
Net Debt 1 -9.262 21.46 16.3 34.42 56.93 64.2 52.8 31.8
Reference price 2 6.890 3.960 4.190 3.920 4.040 5.020 5.020 5.020
Nbr of stocks (in thousands) 43,204 42,990 42,935 42,880 42,857 42,844 - -
Announcement Date 4/14/22 4/26/23 4/23/24 4/25/25 4/21/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
10.8x0.66x4.87x5.41% 249M
12.7x0.64x6.97x1.96% 4.91B
16.87x - - - 1.96B
71.55x2.85x13.64x0.7% 1.64B
31.88x4.85x25.61x1.23% 856M
Average 28.76x 2.25x 12.77x 2.32% 1.92B
Weighted average by Cap. 25.26x 1.58x 10.42x 1.72%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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