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MZVM
КАС-20 PFTS MSCI EE
MZVM, $p.s.
КАС-20


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Market Comment Today's Highlights Upcoming Events Research
   
Closing Price, $ 14.85
Average Daily Volume, $'000 198
Shares outstanding, mln 15
Free Float 18%
Market Cap, $ mln 222.77
Enterprise value, $ mln 241.77
P/E 42.4
EV/EBITDA 16.12
EV/Sales 0.5
Recommendation BUY


2005
Net sales, $ mln 495
EBITDA, $ mln 15
Operating profit, $ mln 10
Pretax profit, $ mln 3
Net profit, $ mln 5
Net Debt, $ mln 19
EPS, $ 0.35
Return on equity, % 7.4%
Operating margin, % 0.02
EBITDA margin, % 3%
Net profit margin, % 1%


Mariupol Heavy Mashinery Plant (MZVM)
Mariupol Heavy Machinery Plant (MZVM) is one of Ukraine’s major rolling stock manufacturers, with annual output that exceeds 4,000 railcars. MZVM remains export oriented, with 80% of its supply going to Russia, Iran and Kazakhstan. MZVM’s trading operations are managed by Azovmash, a holding company affiliated with System Capital Management (SCM). The government’s 11% minority stake was proposed for privatization in 2005, but the actual auction date has not been set thus far. There is a possibility that SCM may create a machine-building holding once privatization is completed.

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