Financials Al Massaleh Real Estate K.S.C.P.

Equities

MASSALEH

KW0EQ0400683

Real Estate Development & Operations

End-of-day quote Kuwait S.E. 06:00:00 2023-12-06 pm EST 5-day change 1st Jan Change
0.0297 KWD -.--% Intraday chart for Al Massaleh Real Estate K.S.C.P. -.--% -.--%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 8.625 8.719 8.059 12.14 7.117 6.999
Enterprise Value (EV) 1 68.47 67.08 66.88 74.5 55.4 54.22
P/E ratio -3.51 x -5.16 x -4.85 x -4.52 x -9.02 x -1.58 x
Yield - - - - - -
Capitalization / Revenue 1.34 x 1.9 x 1.31 x 3.24 x 1.34 x 1.38 x
EV / Revenue 10.7 x 14.6 x 10.8 x 19.9 x 10.5 x 10.7 x
EV / EBITDA 15.4 x 28.4 x 17.4 x 30.9 x 14 x 18.3 x
EV / FCF -1,115 x 32.1 x 18.6 x 10.8 x -4.95 x 9.94 x
FCF Yield -0.09% 3.12% 5.38% 9.22% -20.2% 10.1%
Price to Book 0.38 x 0.42 x 0.41 x 0.71 x 0.45 x 0.62 x
Nbr of stocks (in thousands) 235,654 235,654 235,654 232,920 235,654 235,654
Reference price 2 0.0366 0.0370 0.0342 0.0521 0.0302 0.0297
Announcement Date 5/8/19 4/1/20 4/1/21 3/31/22 4/2/23 4/22/24
1KWD in Million2KWD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 6.422 4.584 6.174 3.74 5.294 5.084
EBITDA 1 4.445 2.363 3.843 2.411 3.955 2.967
EBIT 1 3.123 0.9507 2.427 1.001 2.546 1.579
Operating Margin 48.62% 20.74% 39.3% 26.77% 48.09% 31.05%
Earnings before Tax (EBT) 1 -2.286 -2.038 -3.481 -3.003 1.826 -8.165
Net income 1 -2.318 -1.691 -1.663 -2.714 -0.7889 -4.428
Net margin -36.1% -36.88% -26.93% -72.58% -14.9% -87.1%
EPS 2 -0.0104 -0.007174 -0.007055 -0.0115 -0.003347 -0.0188
Free Cash Flow 1 -0.0614 2.091 3.597 6.869 -11.19 5.457
FCF margin -0.96% 45.63% 58.26% 183.69% -211.37% 107.35%
FCF Conversion (EBITDA) - 88.51% 93.6% 284.95% - 183.95%
FCF Conversion (Net income) - - - - - -
Dividend per Share - - - - - -
Announcement Date 5/8/19 4/1/20 4/1/21 3/31/22 4/2/23 4/22/24
1KWD in Million2KWD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 59.8 58.4 58.8 62.4 48.3 47.2
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 13.46 x 24.7 x 15.31 x 25.87 x 12.21 x 15.92 x
Free Cash Flow 1 -0.06 2.09 3.6 6.87 -11.2 5.46
ROE (net income / shareholders' equity) -9.01% -9.62% -18.7% -19.2% 12.3% -47%
ROA (Net income/ Total Assets) 1.88% 0.64% 1.68% 0.66% 1.67% 1.15%
Assets 1 -123.6 -264.5 -98.96 -408.7 -47.23 -384.3
Book Value Per Share 2 0.1000 0.0900 0.0800 0.0700 0.0700 0.0500
Cash Flow per Share 2 0.0200 0.0100 0.0100 0.0100 0.0100 0
Capex 1 0.01 - - - - -
Capex / Sales 0.15% - - - - -
Announcement Date 5/8/19 4/1/20 4/1/21 3/31/22 4/2/23 4/22/24
1KWD in Million2KWD
Estimates
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