Motor Sich

Motor Sich (MSICH) is the largest producer of aircraft and helicopter engines in the CIS. The company manufactures engines for helicopters and airplanes. With aircrafts in some 100 countries being powered by MSICH engines, maintenance and repair services account for a large share of company sales.

Shareholders Structure

SUMMARY

Market Price ($) 199.8
Market Cap ($m) 415
Enterprise Value ($m) 454
Shares Outstanding 2,077,990
Code MSICH

Recommendations

FV ($) ****
Upside (%) ****
Recommendation ****
Indicator 2016 2017 2018 2019E 2020F
Sales ($m) 413 565 *** *** ***
EBITDA ($m) 172 234 *** *** ***
Net Income ($m) 80 107 *** *** ***
Net Debt ($m) 3 1 *** *** ***
Indicator 2016 2017 2018 2019E 2020F
P/E 5.19 3.87 *** *** ***
P/Sales 1.01 0.73 *** *** ***
EV/EBITDA 2.4 1.8 *** *** ***
P/Book 0.69 0.58 *** *** ***

Latest news about Motor Sich

Nov 06, 2019
| Aircraft engines

Motor Sich — Trump adviser reportedly in talks to buy company

The Wall Street Journal reported that Erik Prince, a private defense contractor and informal adviser to US President Donald Trump, is in talks to acquire Ukrainian Motor Sich (MSICH), a leading producer of aircraft and helicopter engines in the CIS. According to the newspaper article, Prince, who has been to Ukraine nine times since 2014, visited MSICH’s manufacturing premises. Previously a founder of the defense contractor formerly known as Blackwater, Prince is currently the executive director of a private security contractor based in Hong Kong and Beijing. Based on the article, the US administration sought out other potential buyers for MSICH in order to prevent the company being acquired by Chinese investors.
Nov 01, 2019
| Aircraft engines

Motor Sich — Reports weak 3Q19/9M19 results, but sales improve in 3Q19

Motor Sich (MSICH), the leading producer of aircraft and helicopter engines in the CIS, published unaudited 3Q19/9M19 results. In 9M19, sales fell 17% y-o-y to $242m, EBITDA plummeted 89% to $6m, and the company posted a net loss of $20m. As of end-9M19, net debt surged to $90m from $43m a year before and vs. $83.1m vs. end-1H19 on a slashed cash position.
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