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ANJT looking sharp as cashflow rises to a record
ANJT Current 960 Target 1,704 + 78%
May 2, 2022
1 minute read
Sales declined -1%
Last 5 quarters
28% 5% 14% 8% -1%
Costs down profit down
Last 5 quarters
-84% -75% -72% -73% -69%
Cashflow a record high
Last 5 quarters million dollars
7, 9, 13, 10, 20
Balance sheet net cash improved
Last 5 quarters million dollars
-217 -212 -201 -192 -181
Capital raised improved
Last 5 quarters million dollars
-165 -153 -142 -135 -127
May 2, 2022
1 minute read
Sales declined -1%
Last 5 quarters
28% 5% 14% 8% -1%
- Sales declined -1% in the first quarter to 76 million dollars -5% below our 79 million dollars forecast.
- This brings the average to 7% growth.
- We predict average growth of 4% in this next 12 months to bring sales to 86.5 million dollars in the first quarter 2023.
Costs down profit down
Last 5 quarters
-84% -75% -72% -73% -69%
- The cash cost ratio went from -73% to -69% profit from 14.0 to 11.2 million dollars in the first quarter.
- The average cost ratio is at -72% now.
- We use -72% cost ratio to predict a 11.9 million dollars profit in the first quarter 2023.
Cashflow a record high
Last 5 quarters million dollars
7, 9, 13, 10, 20
- Free cashflow went to a record high from 10 to 20 million dollars in the first quarter with lower -3 million dollars investment spending.
- Average quarterly Cashflow is at 13 million dollars now.
- We assume the same -3 million dollars investment spending which with higher sales gives 21 million dollars Cashflow in the first quarter 2023.
Balance sheet net cash improved
Last 5 quarters million dollars
-217 -212 -201 -192 -181
- Cash increased 27 to 39 million dollars in the first quarter.
- Liabilities increased 219 to 219 million dollars so net cash improved -192 to -181 million dollars.
- With our forecast cashflow & a -5 million dollars equity payout -41 million dollars liabilities net cash will be -104 million dollars in 12 months time.
Capital raised improved
Last 5 quarters million dollars
-165 -153 -142 -135 -127
- ANJT 29 quarter capital raised improved -135 to -127 million dollars in the first quarter with, a -8 million dollars new liabilities payment, 1 million dollars new equity & will be -82 million dollars in12 months time.
- At the current market value of 227 million dollars based on our forecasts it’s at 0.34 X assets with a 8 years payback & a 2% yield.
- Our cashflow forecast is 81 million dollars which means an 3 X valuation. A 5 X valuation gives a 78% higher target price of 1,704 rupiah.