These are sample pages! In real pages data is updated every day.

Valuatum main web page


Research Database
UPM1V.HSE Recommendation Buy
Risk - Target price 16
  Share price 16.16
 
 Company Views - UPM-Kymmene
Estimates updated
Price updated
Page generated
Older estimates		 23.Oct.2003 22:26 (EEST)
6.Nov.2003 23:00 (EET)
7.Nov.2003 03:27 (EET)
 

Analyst: Henry Nurminen, +358 10 236 4709
henry.nurminen@mandatum.fi






Income statement 2000 2001 2002 2003e 2004e 2005e
Turnover 9583.0 9918.0 10475.0 9853.0 10449.9 10673.3
EBITDA 2234.0 2138.0 2126.0 1604.7 1815.7 2134.3
EBIT 1560.0 1394.0 1108.0 702.7 914.0 1239.4
Pre-tax profit 1417.0 1113.0 835.0 484.7 649.3 985.5
Reported earnings 1024.0 798.8 582.3 316.6 428.6 669.0
Free cash flow -278.5 -1473.2 1195.8 764.7 857.9 989.6

Balance sheet 2000 2001 2002 2003e 2004e 2005e
Fixed assets 9336.0 10750.0 10124.0 10031.9 9945.2 9907.6
Shareholders' equity 6175.0 6838.0 6953.0 6843.2 6879.2 7155.5
Interest bearing debt 4552.0 6719.0 5906.0 5658.5 5406.2 4999.5
Total assets 13113.0 16431.0 15374.0 15096.2 15078.5 14988.4

Net debt 4071.0 6041.0 5481.0 5264.3 4988.2 4572.6

Key figures 2000 2001 2002 2003e 2004e 2005e
Turnover growth % 16.0% 3.5% 5.6% -5.9% 6.1% 2.1%
EBITDA % 23.3% 21.6% 20.3% 16.3% 17.4% 20.0%
EBIT % 16.3% 14.1% 10.6% 7.1% 8.7% 11.6%
ROE % 17.5% 12.3% 8.4% 4.6% 6.2% 9.5%
ROI % 16.7% 12.0% 8.8% 5.8% 7.7% 10.4%
Equity ratio 47.1% 41.6% 45.2% 45.3% 45.6% 47.7%
Gearing 65.9% 88.3% 78.8% 76.9% 72.5% 63.9%

Share data 2000 2001 2002 2003e 2004e 2005e
EPS (adj.) 1.99 1.61 1.12 0.60 0.82 1.28
FCF per share -0.54 -2.97 2.30 1.46 1.64 1.89
Div. per share 0.75 0.75 0.75 0.75 0.75 0.75
Book Value per share 12.32 13.22 13.37 13.07 13.14 13.66

Pricing and key ratios 2000 2001 2002 2003e 2004e 2005e
Share price 18.28 18.62 15.30 16.16 16.16 16.16
Market Cap 9161.1 9637.2 7959.5 8461.0 8461.0 8461.0
EV 13232.1 15678.2 13440.5 13725.4 13449.5 13034.6
 
P/E 9.2 11.6 13.7 26.7 19.8 12.7
P/FCF -33.7 -6.3 6.7 11.1 9.9 8.5
P/BV 1.5 1.4 1.2 1.2 1.2 1.2
P/S 1.0 0.9 0.8 0.9 0.8 0.8
EV/EBITDA 5.9 7.3 6.3 8.6 7.4 6.1
Div. yield % 4.1% 4.0% 4.9% 4.6% 4.6% 4.6%