15NOV 17 Pret actiune (rebazat la 14/11/16) n/a n/a n/a 1.005 1.335 DoD Wo W MoM YTD YoY -2.7% +3.8% +3.3% -3.1% +6.8% P/E P/B P/S EV/EBIT EV/EBITDA 6.4x 0.6x 0.4x 6.4x 3.3x Sursa: BVB, EquityRT F Y 13 F Y 14 F Y 15 F Y 16 Capitalizare DPS (brut) n/a n/a n/a n/a Capitalizare % Distribuit n/a n/a n/a n/a Numar de actiuni Randament n/a n/a n/a n/a Valoarea nominala Date financiare (RONmii) - Individuale Cumulat 9M 15 9M 16 F Y 16 3M 17 6M 17 9M 17 YoY B ilant Active totale 550,632 558,248 567,005 590,483 601,928 592,252 6.1% Datorii totale 199,951 199,054 200,844 213,604 213,617 195,664 -1.7% Capitaluri proprii 350,681 359,193 366,161 376,879 388,310 396,588 10.4% Cont de profit si pierdere Venituri din explo atare 355,302 495,848 654,521 189,459 368,507 537,687 8.4% Sursa: BVB Cheltuieli din explo atare 325,002 462,136 611,560 177,042 344,250 503,306 8.9% EB IT 30,300 33,711 42,961 12,417 24,257 34,381 2.0% EBITDA 46,427 63,352 81,221 22,500 46,306 67,554 6.6% Profit net 26,412 44,516 51,628 10,653 22,018 30,235 -32.1% Trimestrial 3 Q 15 3 Q 16 4 Q 16 1Q 17 2 Q 17 3 Q 17 YoY Cont de profit si pierdere Venituri din explo atare 115,179 163,297 158,673 189,459 179,048 169,180 3.6% Cheltuieli din explo atare 105,556 153,121 149,423 177,042 167,208 159,056 3.9% EB IT 9,623 10,177 9,250 12,417 11,840 10,123 -0.5% EBITDA 16,074 20,862 17,869 22,500 23,807 21,247 1.8% Profit net 7,778 8,875 7,111 10,653 11,365 8,216 -7.4% Informatii operationale 9M 15 9M 16 F Y 16 3M 17 6M 17 9M 17 YoY Cifra de afaceri (miiRON) 348,215 485,201 638,660 187,148 364,369 531,860 9.6% - Piata interna 107,469 119,805 155,412 37,411 72,212 146,902 22.6% - P iata externa 240,746 365,395 483,248 149,738 292,157 384,958 5.4% Sursa: Companie Indicatori cheie 9M 15 9M 16 F Y 16 3M 17 6M 17 9M 17 YoY P/E P/B EPS LTM (RON) 0.14 0.21 0.24 0.18 0.17 0.17 -17.4% 6.4x 0.6x BVPS (RON) 1.53 1.62 1.56 1.64 1.69 1.73 6.5% 14.5x 2.9x SPS LTM (RON) 2.04 2.82 2.92 3.05 3.10 3.13 11.0% Delphi Automotive [GB] 19.5x 8.3x APS (RON) 2.31 2.53 2.59 2.64 2.67 2.63 3.8% Valeo [FR] 13.9x 3.4x ROaE⁷ 9.5% 12.7% 15.1% 10.9% 10.3% 9.9% -2.9pp Autoliv [SE] 21.2x 2.7x ROaA ⁷ 6.3% 8.2% 9.1% 6.7% 6.5% 6.5% -1.7pp Faurecia [FR] 14.9x 2.8x marja EB IT 8.7% 6.9% 6.7% 6.6% 6.7% 6.5% -0.5pp Schaeffler [DE] 9.5x 4.0x marja EBITDA 13.3% 13.1% 12.7% 12.0% 12.7% 12.7% -0.4pp CIE Automotive [ES] 15.3x 4.0x marja Profit net 7.6% 9.2% 8.1% 5.7% 6.0% 5.7% -3.5pp AC [PL] 19.7x 4.6x Sursa: Companie, EquityRT, BT Equity Research Sursa: Reuters, BT Equity Research Compa [RO] Continental [DE] Recomandare BT Equity Research Detalii de tranzactionare 1 Pret tinta Ultimul pret (la 14/11/2017) RON 1.1 RON 240,703,142 EUR 51,784,162 218,821,038 RON 0.10 Rating Volum zilnic mediu (LTM ) 2 RON 0.06mn Structura actionariatului 5 Venituri (la 30/09/17) Structura cifrei de afaceri Distributia geografica Potential P ret M in /M ax (LTM ) 3 Descriere Compa este o companie romaneasca care se ocupa de proiectarea, producerea si comercializarea de componente si accesorii pentru industria auto. Cu o experienta vasta in domeniul de activitatea si investitii continue, CMP (top 100 exportatori din Romania) a reusit sa construiasca parteneriate puternice, de lunga durata, cu companii importante din industria automotive: Bosch, Delphi, Honeywell, Fuji-Kiko, Jtekt, Dacia- Renault , Daikin, Ina Schaeffler, Takat a, Haulotte Group, Hutchinson etc. Capitalul societatii este privat, iar actiunile se tranzactioneaza pe piata la BVB (segment principal). Dividend (RON) 4 Detalii actiune (la 14/11/17) Companii comparabile (Ultimele date) 55% 45% Asociatia salariatilor Altii - 0.5 1.0 0.0 0.5 1.0 1.5 Nov16 Mar17 Jul17 Nov17 Volume (RONmn) CMP BET-XT 99.5% 0.3% 0.1% 0.1% Produse finite Servicii Vz. Marfuri Altele 28% 72% Piata interna Piata externa