Stock 1622 REDCO PROPERTIES GROUP LIMITED
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Financials Redco Properties Group Limited

Equities

1622

KYG733101318

Real Estate Development & Operations

Market Closed - Hong Kong S.E.
Other stock markets
 04:08:19 2023-03-29 am EDT 		5-day change 1st Jan Change
1.33 HKD +0.76% Intraday chart for Redco Properties Group Limited -.--% -.--%
Apr. 24 Redco Properties Group Limited Reports Earnings Results for the Full Year Ended December 31, 2023 CI
Apr. 15 Redco Properties Expects Loss in First Six Months of 2023 MT

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 13,909 12,061 8,669 7,553 5,050 4,144
Enterprise Value (EV) 1 21,479 19,036 19,341 20,056 19,386 19,186
P/E ratio 14 x 11.7 x 6.69 x 8.54 x -1.06 x -2.66 x
Yield 1.4% 0.88% 2.05% - - -
Capitalization / Revenue 2.06 x 1.4 x 0.7 x 0.37 x 0.27 x 0.78 x
EV / Revenue 3.19 x 2.21 x 1.55 x 0.98 x 1.04 x 3.59 x
EV / EBITDA 12 x 9.25 x 15 x 7.13 x -4.96 x -46.4 x
EV / FCF -4.49 x -8.08 x -2.9 x -12.1 x 3.07 x 17.5 x
FCF Yield -22.3% -12.4% -34.5% -8.26% 32.5% 5.72%
Price to Book 3.18 x 2.33 x 1.27 x 0.96 x 2.32 x 8.87 x
Nbr of stocks (in thousands) 3,551,609 3,551,609 3,551,609 3,551,609 3,551,609 3,551,609
Reference price 2 3.916 3.396 2.441 2.127 1.422 1.167
Announcement Date 4/22/19 4/23/20 4/27/21 4/27/22 5/30/24 5/30/24
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 6,736 8,602 12,452 20,396 18,636 5,339
EBITDA 1 1,795 2,057 1,292 2,812 -3,912 -413.9
EBIT 1 1,785 2,034 1,260 2,753 -3,946 -447.6
Operating Margin 26.5% 23.65% 10.12% 13.5% -21.17% -8.38%
Earnings before Tax (EBT) 1 2,213 2,641 2,126 3,857 -5,450 -1,225
Net income 1 990.7 1,035 1,296 884 -4,763 -1,556
Net margin 14.71% 12.03% 10.41% 4.33% -25.56% -29.14%
EPS 2 0.2790 0.2914 0.3649 0.2489 -1.341 -0.4381
Free Cash Flow 1 -4,783 -2,356 -6,680 -1,656 6,306 1,097
FCF margin -71.01% -27.39% -53.64% -8.12% 33.83% 20.55%
FCF Conversion (EBITDA) - - - - - -
FCF Conversion (Net income) - - - - - -
Dividend per Share 2 0.0550 0.0300 0.0500 - - -
Announcement Date 4/22/19 4/23/20 4/27/21 4/27/22 5/30/24 5/30/24
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 7,570 6,975 10,672 12,503 14,336 15,042
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 4.218 x 3.391 x 8.26 x 4.446 x -3.665 x -36.35 x
Free Cash Flow 1 -4,783 -2,356 -6,680 -1,656 6,306 1,097
ROE (net income / shareholders' equity) 23% 19% 12.8% 17.2% -52.7% -42.6%
ROA (Net income/ Total Assets) 4.06% 2.6% 1.06% 1.96% -3.3% -0.5%
Assets 1 24,433 39,787 122,296 45,024 144,161 309,947
Book Value Per Share 2 1.230 1.460 1.920 2.220 0.6100 0.1300
Cash Flow per Share 2 1.600 3.120 2.720 2.120 0.5300 0.2200
Capex 1 22.8 44.7 49.1 51.6 17 30.9
Capex / Sales 0.34% 0.52% 0.39% 0.25% 0.09% 0.58%
Announcement Date 4/22/19 4/23/20 4/27/21 4/27/22 5/30/24 5/30/24
1CNY in Million2CNY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Annual profits - Rate of surprise

Company calendar

Sector Other Real Estate Development & Operations

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