Financials Alan Allman Associates London S.E.

Equities

0HNG

FR0000062465

Business Support Services

Delayed London S.E. Other stock markets 12:39:18 2021-03-26 pm EDT			5-day change	1st Jan Change
4.54 ^EUR	+127.00%		-.--%	-.--%

Apr. 24	Alan Allman Associates Reports Earnings Results for the Full Year Ended December 31, 2023	CI
2023	Alan Allman Associates acquired WINNING consulting.	CI

Valuation

Fiscal Period: December	2021	2022	2023	2024	2025
Capitalization ¹	560.5	393.6	493.7	365.4	-
Enterprise Value (EV) ¹	628	512.1	654	521.3	517.4
P/E ratio	87.3 x	42.8 x	85 x	30.4 x	21.2 x
Yield	-	0.56%	0.45%	0.62%	-
Capitalization / Revenue	2.98 x	1.23 x	1.35 x	0.86 x	0.73 x
EV / Revenue	3.34 x	1.6 x	1.79 x	1.22 x	1.03 x
EV / EBITDA	36.4 x	15.9 x	18.3 x	12 x	9.87 x
EV / FCF	39.3 x	28.4 x	24.5 x	25.5 x	19.8 x
FCF Yield	2.54%	3.52%	4.09%	3.92%	5.05%
Price to Book	15.4 x	8.12 x	7.71 x	4.08 x	3.09 x
Nbr of stocks (in thousands)	42,790	43,833	44,682	45,395	-
Reference price ²	13.10	8.980	11.05	8.050	8.050
Announcement Date	4/25/22	6/23/23	4/24/24	-	-

¹EUR in Million²EUR

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2021	2022	2023	2024	2025
Net sales ¹	188.3	320.7	365.6	426.2	500.8
EBITDA ¹	17.24	32.19	35.74	43.5	52.45
EBIT ¹	13.35	22.18	23.14	32.85	41.35
Operating Margin	7.09%	6.92%	6.33%	7.71%	8.26%
Earnings before Tax (EBT) ¹	10.94	-	11.25	20.5	31
Net income ¹	6.434	9.428	5.722	12.05	17.3
Net margin	3.42%	2.94%	1.57%	2.83%	3.45%
EPS ²	0.1500	0.2100	0.1300	0.2650	0.3800
Free Cash Flow ¹	15.96	18.04	26.72	20.45	26.15
FCF margin	8.48%	5.63%	7.31%	4.8%	5.22%
FCF Conversion (EBITDA)	92.59%	56.06%	74.77%	47.01%	49.86%
FCF Conversion (Net income)	248.1%	191.37%	466.95%	169.71%	151.16%
Dividend per Share ²	-	0.0500	0.0500	0.0500	-
Announcement Date	4/25/22	6/23/23	4/24/24	-	-

¹EUR in Million²EUR

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2022 S1	2022 S2
Net sales ¹	-	165.2
EBITDA	-	-
EBIT	-	-
Operating Margin	-	-
Earnings before Tax (EBT)	-	-
Net income	6.264	-
Net margin	-	-
EPS	0.1400	-
Dividend per Share	-	-
Announcement Date	9/28/22	6/23/23

¹EUR in Million

Estimates

Balance Sheet Analysis

Fiscal Period: December	2021	2022	2023	2024	2025
Net Debt ¹	67.4	119	160	156	152
Net Cash position ¹	-	-	-	-	-
Leverage (Debt/EBITDA)	3.912 x	3.682 x	4.484 x	3.584 x	2.898 x
Free Cash Flow ¹	16	18	26.7	20.5	26.2
ROE (net income / shareholders' equity)	25.2%	22.2%	10.1%	15.6%	16.3%
ROA (Net income/ Total Assets)	-	-	-	-	-
Assets ¹	-	-	-	-	-
Book Value Per Share ²	0.8500	1.110	1.430	1.980	2.610
Cash Flow per Share ²	0.4400	0.5300	0.6600	0.7000	0.9000
Capex ¹	2.77	5.5	3.24	6.15	6.85
Capex / Sales	1.47%	1.72%	0.89%	1.44%	1.37%
Announcement Date	4/25/22	6/23/23	4/24/24	-	-

¹EUR in Million²EUR

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Alan Allman Associates

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

UNDERPERFORM

Number of Analysts

Last Close Price

8.05 EUR

Average target price

8.8 EUR

Spread / Average Target

+9.32%

Consensus

EPS Revisions

Estimates Revisions

Quarterly revenue - Rate of surprise

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