Company Valuation: Impact Developer & Contractor S.A.

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 491.1 1,089 851 622 449.3 520.3
Change - 121.8% -21.88% -26.91% -27.76% 15.79%
Enterprise Value (EV) 1 689.3 1,386 1,187 984.3 694.5 655.7
Change - 101.02% -14.34% -17.07% -29.45% -5.58%
P/E 6.66x 13.7x 9.8x 23.2x 7.66x 6.96x
PBR 0.77x 1.54x 0.97x 0.68x 0.47x 0.5x
PEG - 1.62x 13.99x -0.3x 0x 0.3x
Capitalization / Revenue 2.39x 7.89x 3.88x 3.63x 1.46x 1.57x
EV / Revenue 3.36x 10x 5.42x 5.75x 2.25x 1.98x
EV / EBITDA 18.3x 107x 31.6x 97.9x 13.8x 16.2x
EV / EBIT 19.2x 114x 33.7x 163x 14.9x 18.5x
EV / FCF -19.2x -18.6x -11.6x -42.7x 7.09x 4.91x
FCF Yield -5.2% -5.39% -8.65% -2.34% 14.1% 20.4%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 0.6726 0.7294 0.7345 0.2267 0.496 0.6321
Distribution rate - - - - - -
Net sales 1 205.3 138.1 219.2 171.2 308.3 331.1
EBITDA 1 37.73 12.96 37.57 10.05 50.49 40.38
EBIT 1 35.99 12.17 35.24 6.047 46.61 35.43
Net income 1 74.86 78.8 85.62 26.81 58.68 74.75
Net Debt 1 198.2 296.4 336 362.3 245.1 135.4
Reference price 2 4.476 10.000 7.200 5.260 3.800 4.400
Nbr of stocks (in thousands) 109,711 108,924 118,188 118,247 118,247 118,247
Announcement Date 20/3/21 29/4/22 28/4/23 30/4/24 30/4/25 31/3/26
1RON in Million2RON
Estimates

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
- - - - 106M
15.87x4.99x13.43x3.19% 45.16B
8.7x1.46x7.66x4.08% 30.1B
18.46x3.97x16.19x1.35% 28.4B
5.58x0.6x1.23x9.03% 26.66B
13.77x3.05x14.62x2.55% 25.55B
9.03x2.33x7.17x3.86% 21.29B
14.05x6.62x17.72x1.52% 20.63B
8.5x0.94x3.43x2.63% 21.74B
16.39x9.6x18.19x5.05% 17.52B
Average 12.26x 3.73x 11.07x 3.7% 23.71B
Weighted average by Cap. 12.48x 3.59x 11.03x 3.67%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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  4. Valuation Impact Developer & Contractor S.A.