Market Price ($) | 14.76 |
Market Cap ($m) | 1,240 |
Enterprise Value ($m) | 2,506 |
Акції | 84,031,230 |
Code | KER PW |
FV ($) | **** |
Upside (%) | **** |
Recommendation | **** |
Indicator | 2017 | 2018 | 2019 | 2020E | 2021E |
---|---|---|---|---|---|
Sales ($m) | 2,169 | 2,403 | *** | *** | *** |
EBITDA ($m) | 319 | 223 | *** | *** | *** |
Net Income ($m) | 176 | 52 | *** | *** | *** |
Net Debt ($m) | 511 | 619 | *** | *** | *** |
Indicator | 2017 | 2018 | 2019 | 2020E | 2021E |
---|---|---|---|---|---|
П/E | 7.04 | 23.78 | *** | *** | *** |
П/Продажі | 0.57 | 0.52 | *** | *** | *** |
EV/EBITDA | 5.5 | 8.4 | *** | *** | *** |
П/Книга | 1.07 | 1.05 | *** | *** | *** |
Year | 2022 | 2024 | 2027 |
---|---|---|---|
Issue Volume ($m) | 500 | 300 | 300 |
Coupon Rate (% p.a.) | 8.75% | 6.50% | 6.75% |
Coupon Frequency | S/A | S/A | S/A |
Дата погашення | 1/31/2022 | 10/17/2024 | 10/27/2027 |
Ratings: Moody`s/S&P/Fitch | -/B+/BB- | -/B+/BB- | -/B+/BB- |
Market Price* ($) | 105.25 | 105.75 | 106.00 |
Market YTM* | 3.48% | 4.69% | 5.31% |
Spread over UST* | 335 | 450 | 486 |
Note: *Based on bid price. |
Year | 2019 | 2020E | 2021E |
---|---|---|---|
Net Sales ($m) | 3,960 | *** | *** |
EBITDA ($m) | 346 | *** | *** |
Net Income ($m) | 189 | *** | *** |
EBIT Coverage Ratio (x) | 3.27 | *** | *** |
Net Debt/Equity (%) | 57.0% | *** | *** |
Covenants | |
---|---|
Restriction on payment of dividend | - |
Financial reports | A - within 120 days; Q - within 90 days |
Min. Fixed Charge Coverage Ratio* | 3:1 |
Events of Default | |
Failure to pay | 10 days |
Cross default | $30m |
Expiry of license, illegality, insolvency etc. | - |
Judgements | $30m/60 days |