Coy: TOTAL NIG. PLC. (TOTAL)
Rating: Hold
Current Market Price: N168.00
Latest Interim Dividend: N4.00
Year High: N168.00
Year Low: N130.00
Fair Value: N110.68
By: Jeariogbe Tunde Segun (Equity Analyst)
Half year Earnings Brief
- The management announced N4.00 Interim Cash Dividend
- The closure date for the said dividend is between 16th – 20th August, 2021, while the qualification date is 13th August, 2021, Meanwhile the Payment Date is 13th September, 2021
- The half year numbers released for the period ended 30th June, 2021 is the reflection of the various improvement in the oil and gas sector of the economy, both locally and internationally.
- Thus, the numbers released are all positive as against the negative performance posted at the end of 2020 half year business session
- Turnover Improved by 41.82% to stand at N151.33 billion versus N106.70 billion in the corresponding quarter
- A total of N8.06 billion was reported as profit for the period as against N537.18 million lost after tax posted in the corresponding quarter of 2020
- Kindly see below, for our result comparison and estimated ratios;
TOTAL NIGERIA |
Bourse |
Nigerian Stock Exchange |
Code Name |
TOTAL |
Sector |
OIL AND GAS |
Market Classification |
MAIN BOARD |
Nature of Business |
MARKETING OF PETROLEUM PRODUCTS |
Date of Incorporation |
Jan-06-1956 |
Date Listed |
Jan-01-1970 |
End of Accounting Year |
31ST DECEMBER |
Website |
www.total.com.ng |
Registrar |
CardinalStone Registrars Limited |
Auditor |
KPMG Professional Services |
Share Price@Relsd (N) |
168.00 |
Earnings per Share |
23.76 |
Intrinsic Value(N) |
110.68 |
Share Outstanding |
339,522,286 |
Market Capitalisation |
57,039,744,048 |
TOTAL NIGERIA-H1 2021 |
Statement of Comprehensive Income |
|
2021(000) |
2020(000) |
%CHG |
Turnover |
151,333,238 |
106,704,944 |
41.82 |
Cost of Sales |
125,829,551 |
94,304,878 |
33.43 |
Operating Profit |
12,525,969 |
716,812 |
1,847.46 |
OPEX |
15,383,907 |
13,762,141 |
11.78 |
DEPRECIATION |
3,384,890 |
3,071,833 |
10.19 |
AMORTISATION |
22,266 |
5,570 |
299.75 |
FINANCE COST |
842,010 |
1,954,671 |
56.92 |
NET FINANCE INCOME |
747,403 |
192,913 |
487.43 |
PBT |
11,778,566 |
796,920 |
1,578.01 |
TAX |
3,712,976 |
259,732 |
1,329.54 |
PAT |
8,065,590 |
537,188 |
1,601.45 |
TOTAL COMP INCOME |
8,065,590 |
537,188 |
1,601.45 |
Statement of Financial Position |
Current Assets |
142,109,466 |
80,893,344 |
75.68 |
Non Current Assets |
44,793,825 |
45,289,594 |
-1.09 |
Total Assets |
186,903,291 |
126,182,938 |
48.12 |
Current Liabilities |
148,461,640 |
95,761,711 |
55.03 |
Non Current Liabilities |
5,620,475 |
4,914,368 |
14.37 |
Total Liabilities |
154,082,115 |
100,676,079 |
53.05 |
Net Assets |
32,821,176 |
25,506,859 |
28.68 |
Retained Earnings |
32,651,415 |
25,337,098 |
28.87 |
Shares Outstanding |
339,522 |
339,522 |
|
DIVIDEND INFORMATION |
Tickers |
2021 |
2020 |
%Chg |
Total Dividend |
4.00 |
– |
#DIV/0! |
Payout Ratio |
16.84% |
0.00% |
#DIV/0! |
Dividend Yield |
2.38% |
0.00% |
#DIV/0! |
Sustainable Growth Rate |
20.44% |
-2.11% |
1,070.37 |
Financial Strength/Solvency Ratio |
TICKERS |
2021 |
2020 |
%CHG |
Debt Ratio |
82.44% |
79.79% |
3.33 |
Total Debt to Equity Ratio (MRQ) |
469.46% |
394.70% |
18.94 |
Equity Ratio |
17.56% |
20.21% |
-13.13 |
TICKERS |
2021 |
Industrial Average |
%CHG |
Beta Value |
0.53 |
0.71 |
-25.35 |
PROFITABILITY RATIOS |
TICKERS |
2021 |
2020 |
%CHG |
EBITDA MARGIN |
8.28% |
-0.67% |
1,332.13 |
PRE-TAX MARGIN |
7.78% |
-0.75% |
1,142.14 |
EFFECTIVE TAX RATE |
46.03% |
-48.35% |
195.21 |
CS TO TO |
83.15% |
88.38% |
-5.92 |
ROE |
24.57% |
-2.11% |
1,266.84 |
ROA |
4.32% |
-0.43% |
1,113.66 |
EFFICIENCY RATIOS |
|
2021 |
2020 |
%Chg |
OPEX TO TO |
10.17% |
12.90% |
-21.18 |
TO TO TA |
80.97% |
84.56% |
-4.25 |
Working Capital Turnover |
(23.82) |
(7.18) |
231.96 |
Working Capital Ratio |
0.96 |
0.84 |
13.32 |
Investment/Valuation Ratios |
Tickers |
2021 |
2020 |
%Chg |
Price at Released |
168.00 |
97.50 |
72.31 |
EPS |
23.76 |
-1.58 |
1,601.45 |
TCIP/SHARE |
23.76 |
-1.58 |
1,601.45 |
P/E-Ratio |
7.07 |
-61.62 |
111.48 |
Earnings Yield |
14.14% |
-1.62% |
971.38 |
BV/Share |
96.67 |
75.13 |
28.68 |
PBV |
1.74 |
1.30 |
33.91 |
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