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(RON)AY 0.30 0.30 0.31 0.32 0.33 0.33 7.4% Meggitt [GB] 16 ... · motoare cu turbina de gaze si...
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14MAY 18 Pret actiune (rebazat la 11/05/17) 0.161RON /0.322 RON DoD Wo W MoM YTD YoY -5.2% -0.9% -5.0% -6.8% +53.9% P/E P/B P/S EV/EBIT EV/EBITDA 7.4x 1.8x 1.0x 10.6x 6.0x Sursa: BVB, EquityRT F Y 14 F Y 15 F Y 16 F Y 17 Capitalizare DPS (brut) n/a n/a 0.0105 0.0242 Capitalizare % Distribuit n/a n/a 35.7% 65.5% Numar de actiuni Randament n/a n/a 8.4% 9.1% Valoarea nominala Date financiare (miiRON) Cumulat 3M 16 3M 17 6M 17 9M 17 F Y 17 3M 18 YoY B ilant Active totale 112,096 112,195 113,459 123,268 124,642 128,665 14.7% Datorii totale 74,391 63,715 64,252 63,017 64,530 66,761 4.8% Capitaluri proprii 37,705 48,480 49,207 60,251 60,113 61,904 27.7% Cont de profit si pierdere Venituri totale 14,720 21,721 46,527 77,015 106,613 18,615 -14.3% Sursa: BVB Cheltuieli totale 11,889 18,110 36,847 53,134 78,527 15,472 -14.6% EB IT 2,831 3,611 9,680 23,881 28,087 3,143 -13.0% EBITDA 4,222 5,229 12,956 28,845 34,789 5,532 5.8% Profit net 1,643 2,218 6,825 17,868 13,651 1,791 -19.2% Trimestrial 1Q 16 1Q 17 2 Q 17 3 Q 17 4 Q 17 1Q 18 YoY Cont de profit si pierdere Venituri totale 14,720 21,721 24,805 30,488 29,599 18,615 -14.3% Cheltuieli totale 11,889 18,110 18,737 16,286 25,393 15,472 -14.6% EB IT 2,831 3,611 6,069 14,202 4,205 3,143 -13.0% EBITDA 4,222 5,229 7,726 15,889 5,945 5,532 5.8% Profit net 1,643 2,218 4,607 11,043 4,218 - 1,791 -19.2% Informatii operationale (miiRON) Venituri pe segmente F Y 15 3M 16 F Y 16 3M 17 F Y 17 3M 18 YoY Euro pa 68,786 n/a 82,586 n/a 97,367 n/a n/a SUA 355 n/a 444 n/a 213 n/a n/a Asia 0 n/a 0 n/a 3,186 n/a n/a Sursa: Companie Indicatori cheie 3M 16 3M 17 6M 17 9M 17 F Y 17 3M 18 YoY P/E P/B EPS LTM (RON) 0.02 0.03 0.04 0.06 0.04 0.04 15.5% 7.4x 1.8x BVPS (RON) 0.09 0.12 0.12 0.14 0.14 0.15 28.1% 10.2x 3.9x SPS LTM (RON) 0.18 0.25 0.26 0.30 0.27 0.27 6.4% 22.3x 4.0x APS (RON) 0.30 0.30 0.31 0.32 0.33 0.33 7.4% 16.9x 1.5x ROaE⁷ 19.5% 26.6% 30.4% 41.1% 25.7% 24.0% -2.6pp 29.9x 2.5x ROaA ⁷ 6.0% 10.2% 11.9% 17.9% 11.3% 11.0% 0.8pp 15.7x 2.3x marja EB IT 30.3% 18.7% 23.7% 32.5% 27.9% 17.9% -0.8pp 122.3x 1.2x marja EBITDA 45.2% 27.0% 31.7% 39.2% 34.5% 31.5% 4.5pp 20.4x 3.0x marja Profit net 17.6% 11.5% 16.7% 24.3% 13.5% 10.2% -1.3pp 52.9x 15.4x Sursa: Companie, EquityRT, BT Equity Research Sursa: Reuters, BT Equity Research Volum zilnic mediu (LTM ) 2 133 miiRON Infiintata in 1975, TBM este unicul producator de motoare cu turbina de gaze si ansamble mecanice pentru aeronave din cadrul industriei romanesti. Principalele produse/activitati realizate sunt: motoare Turmo, Viper, modernizare elicoptere Puma, piese de schimb pentru motoare Turmo, Viper, Spey, piese si motoare pentru Rolls-Royce. Actualmente, principalii clienti sunt pe piata interna (M in. Apararii si IAR Brasov), dar TBM are totodata tranzactii comerciale cu clienti aflati in Europa (Rolls-Royce), SUA (General Electric USA). Capitalul societatii este privat, iar actiunile se tranzactioneaza la BVB (segment principal) si sunt incluse in componenta indicelui BET-XT, BET- XT-TR, BET Plus. TBM inclusa in indicii: BET-XT, BET-XT-TR, BETPlus. Descriere Detalii de tranzactionare 1 Ultimul pret (la 11/05/2018) 0.266 RON Structura actionariatului 5 Venituri (la 31/12/17) Segmente de venit Structura geografica P ret M in /M ax (LTM ) 3 Dividend (RON) 4 Detalii actiune (la 11/05/18) 98,086,977 RON 21,163,152 EUR 369,442,475 0.10 RON Companii comparabile (Ultimele date) Turbomecanica [RO] Safran [FR] M TU Aero Engines [DE] CTT Systems [SE] Meggitt [GB] Senior [GB] Figeac Aero [FR] Latecoere [FR] FACC [AT] 4% 79% 17% Repere si piese de aviatie Reparatii motoare Altele 26% 15% 59% Viehmann Radu Ciorapciu Dana Maria Altii - 0.5 1.0 1.5 2.0 0.1 0.2 0.2 0.3 0.4 May17 Sep17 Jan18 May18 Volume (mRON) TBM BET-XT 96.6% 0.2% 3.2% Europa USA Asia
Transcript of (RON)AY 0.30 0.30 0.31 0.32 0.33 0.33 7.4% Meggitt [GB] 16 ... · motoare cu turbina de gaze si...
![Page 1: (RON)AY 0.30 0.30 0.31 0.32 0.33 0.33 7.4% Meggitt [GB] 16 ... · motoare cu turbina de gaze si ansamble mecanice pentru aeronave din cadrul industriei romanesti. Principalele produse/activitati](https://reader030.fdocumente.com/reader030/viewer/2022020217/5dd090a4d6be591ccb619ae7/html5/thumbnails/1.jpg)
14MAY18
P ret act iune (rebazat la 11/ 05/ 17)
0.161 RON /0.322 RON
DoD WoW M oM YTD YoY
-5.2% -0.9% -5.0% -6.8% +53.9%
P/E P/B P/S EV/EBIT EV/EBITDA
7.4x 1.8x 1.0x 10.6x 6.0x
Sursa: BVB, EquityRT
F Y14 F Y15 F Y16 F Y17 Capitalizare
DPS (brut) n/a n/a 0.0105 0.0242 Capitalizare
% Distribuit n/a n/a 35.7% 65.5% Numar de actiuni
Randament n/a n/a 8.4% 9.1% Valoarea nominala
D ate f inanciare (miiR ON )
C umulat 3M 16 3M 17 6M 17 9M 17 F Y17 3M 18 Yo Y
Bilant
Active to tale 112,096 112,195 113,459 123,268 124,642 128,665 14.7%
Datorii to tale 74,391 63,715 64,252 63,017 64,530 66,761 4.8%
Capitaluri proprii 37,705 48,480 49,207 60,251 60,113 61,904 27.7%
Cont de profit si pierdere
Venituri to tale 14,720 21,721 46,527 77,015 106,613 18,615 -14.3% Sursa: BVB
Cheltuieli to tale 11,889 18,110 36,847 53,134 78,527 15,472 -14.6%
EBIT 2,831 3,611 9,680 23,881 28,087 3,143 -13.0%
EBITDA 4,222 5,229 12,956 28,845 34,789 5,532 5.8%
P ro f it net 1,643 2,218 6,825 17,868 13,651 1,791 -19.2%
T rimestria l 1Q16 1Q17 2Q17 3Q17 4Q17 1Q18 Yo Y
Cont de profit si pierdere
Venituri to tale 14,720 21,721 24,805 30,488 29,599 18,615 -14.3%
Cheltuieli to tale 11,889 18,110 18,737 16,286 25,393 15,472 -14.6%
EBIT 2,831 3,611 6,069 14,202 4,205 3,143 -13.0%
EBITDA 4,222 5,229 7,726 15,889 5,945 5,532 5.8%
P ro f it net 1,643 2,218 4,607 11,043 4,218- 1,791 -19.2%
Info rmatii o perat io nale (miiR ON )
Venituri pe segmente F Y15 3M 16 F Y16 3M 17 F Y17 3M 18 Yo Y
Europa 68,786 n/a 82,586 n/a 97,367 n/a n/a
SUA 355 n/a 444 n/a 213 n/a n/a
Asia 0 n/a 0 n/a 3,186 n/a n/a Sursa: Companie
Indicato ri cheie
3M 16 3M 17 6M 17 9M 17 F Y17 3M 18 Yo Y P / E P / B
EPS LT M (RON) 0.02 0.03 0.04 0.06 0.04 0.04 15.5% 7.4x 1.8x
BVPS (RON) 0.09 0.12 0.12 0.14 0.14 0.15 28.1% 10.2x 3.9x
SPS LT M (RON) 0.18 0.25 0.26 0.30 0.27 0.27 6.4% 22.3x 4.0x
APS (RON) 0.30 0.30 0.31 0.32 0.33 0.33 7.4% 16.9x 1.5x
ROaE⁷ 19.5% 26.6% 30.4% 41.1% 25.7% 24.0% -2.6pp 29.9x 2.5x
ROaA⁷ 6.0% 10.2% 11.9% 17.9% 11.3% 11.0% 0.8pp 15.7x 2.3x
marja EBIT 30.3% 18.7% 23.7% 32.5% 27.9% 17.9% -0.8pp 122.3x 1.2x
marja EBITDA 45.2% 27.0% 31.7% 39.2% 34.5% 31.5% 4.5pp 20.4x 3.0x
marja Profit net 17.6% 11.5% 16.7% 24.3% 13.5% 10.2% -1.3pp 52.9x 15.4x
Sursa: Companie, EquityRT, BT Equity Research Sursa: Reuters, BT Equity Research
Volum zilnic mediu (LTM )2 133 miiRON
Infiintata in 1975, TBM este unicul producator de
motoare cu turbina de gaze si ansamble mecanice
pentru aeronave din cadrul industriei romanesti.
Principalele produse/activitati realizate sunt: motoare
Turmo, Viper, modernizare elicoptere Puma, piese de
schimb pentru motoare Turmo, Viper, Spey, piese si
motoare pentru Rolls-Royce. Actualmente, principalii
clienti sunt pe piata interna (M in. Apararii si IAR
Brasov), dar TBM are totodata tranzactii comerciale
cu clienti aflati in Europa (Rolls-Royce), SUA (General
Electric USA). Capitalul societatii este privat, iar
actiunile se tranzactioneaza la BVB (segment principal)
si sunt incluse in componenta indicelui BET-XT, BET-
XT-TR, BET Plus.
TBM inclusa in indicii: BET-XT, BET-XT-TR, BETPlus.
D escriere D etalii de tranzact io nare 1
Ultimul pret (la 11/05/2018) 0.266 RON
Structura act io nariatului 5
Venituri ( la 31/ 12/ 17)
Segmente de venit
Structura geografica
Pret M in /M ax (LTM )3
D ividend (R ON ) 4 D etalii act iune ( la 11/ 05/ 18)
98,086,977 RON
21,163,152 EUR
369,442,475
0.10 RON
C o mpanii co mparabile (Ult imele date)
Turbomecanica [RO]
Safran [FR]
M TU Aero Engines [DE]
CTT Systems [SE]
M eggitt [GB]
Senior [GB]
Figeac Aero [FR]
Latecoere [FR]
FACC [AT]
4%
79%
17%Repere si piese deaviatie
Reparatii motoare
Altele
26%
15%59%
Viehmann Radu
Ciorapciu DanaMaria
Altii
-
0.5
1.0
1.5
2.0
0.1
0.2
0.2
0.3
0.4
May17 Sep17 Jan18 May18
Volume (mRON) TBM BET-XT
96.6%
0.2% 3.2%
Europa
USA
Asia
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![(RON)N 0.34 0.30 0.31 0.31 0.31 0.30 1.3% Meggitt [GB] 23 ... · realizate sunt: motoare Turmo, Viper, modernizare elicoptere Puma, piese de schimb pentru motoare Turmo, Viper, Spey,](https://static.fdocumente.com/doc/165x107/5dd090a2d6be591ccb619adf/ronn-034-030-031-031-031-030-13-meggitt-gb-23-realizate-sunt-motoare.jpg)
