Upcoming Dividend • Jun 01
Upcoming dividend of RM0.05 per share Eligible shareholders must have bought the stock before 08 June 2026. Payment date: 23 June 2026. Payout ratio is a comfortable 34% and this is well supported by cash flows. Trailing yield: 2.0%. Lower than top quartile of Malaysian dividend payers (5.4%). Lower than average of industry peers (4.5%). Reported Earnings • May 31
First quarter 2026 earnings released: EPS: RM0.035 (vs RM0.034 in 1Q 2025) First quarter 2026 results: EPS: RM0.035 (up from RM0.034 in 1Q 2025). Revenue: RM159.8m (up 7.8% from 1Q 2025). Net income: RM22.3m (up 14% from 1Q 2025). Profit margin: 14% (in line with 1Q 2025). Revenue is forecast to grow 9.2% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Beverage industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has increased by 48% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 29
Spritzer Bhd Approves First and Final Dividend for the Financial Year Ended December 31, 2025 Spritzer Bhd announced at annual general meeting held on 29 May 2026, the shareholders approved first and final dividend of 5.0 sen per share, under the single tier system, in respect of the financial year ended December 31, 2025. Declared Dividend • May 01
Dividend increased to RM0.05 Dividend of RM0.05 is 25% higher than last year. Ex-date: 8th June 2026 Payment date: 23rd June 2026 Dividend yield will be 2.0%, which is lower than the industry average of 3.8%. Sustainability & Growth Dividend is well covered by both earnings (35% earnings payout ratio) and cash flows (30% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 38% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Apr 30
Spritzer Bhd, Annual General Meeting, May 29, 2026 Spritzer Bhd, Annual General Meeting, May 29, 2026, at 10:30 Singapore Standard Time. Location: lot 898, jalan reservoir, off jalan air kuning, 34000 taiping, perak darul ridzuan, Malaysia Reported Earnings • Mar 02
Full year 2025 earnings released: EPS: RM0.14 (vs RM0.11 in FY 2024) Full year 2025 results: EPS: RM0.14 (up from RM0.11 in FY 2024). Revenue: RM659.8m (up 14% from FY 2024). Net income: RM90.8m (up 28% from FY 2024). Profit margin: 14% (up from 12% in FY 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.6% p.a. on average during the next 2 years, compared to a 5.7% growth forecast for the Beverage industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has increased by 55% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Nov 29
Third quarter 2025 earnings released: EPS: RM0.037 (vs RM0.027 in 3Q 2024) Third quarter 2025 results: EPS: RM0.037 (up from RM0.027 in 3Q 2024). Revenue: RM169.9m (up 16% from 3Q 2024). Net income: RM23.6m (up 38% from 3Q 2024). Profit margin: 14% (up from 12% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.9% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Beverage industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has increased by 57% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Oct 17
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to RM2.46, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 14x in the Beverage industry in Malaysia. Total returns to shareholders of 299% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at RM1.69 per share. Buy Or Sell Opportunity • Sep 24
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 32% to RM2.05. The fair value is estimated to be RM1.69, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 33%. Revenue is forecast to grow by 16% in 2 years. Earnings are forecast to grow by 18% in the next 2 years. Price Target Changed • Aug 30
Price target increased by 11% to RM2.00 Up from RM1.79, the current price target is an average from 4 analysts. New target price is 15% above last closing price of RM1.74. Stock is up 33% over the past year. The company is forecast to post earnings per share of RM0.13 for next year compared to RM0.11 last year. Reported Earnings • Aug 29
Second quarter 2025 earnings released: EPS: RM0.036 (vs RM0.031 in 2Q 2024) Second quarter 2025 results: EPS: RM0.036 (up from RM0.031 in 2Q 2024). Revenue: RM164.9m (up 13% from 2Q 2024). Net income: RM22.7m (up 15% from 2Q 2024). Profit margin: 14% (in line with 2Q 2024). Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Beverage industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 33% per year whereas the company’s share price has increased by 38% per year. Price Target Changed • Aug 28
Price target increased by 10% to RM1.90 Up from RM1.73, the current price target is an average from 4 analysts. New target price is 8.1% above last closing price of RM1.76. Stock is up 36% over the past year. The company is forecast to post earnings per share of RM0.13 for next year compared to RM0.11 last year. Reported Earnings • May 31
First quarter 2025 earnings released: EPS: RM0.034 (vs RM0.024 in 1Q 2024) First quarter 2025 results: EPS: RM0.034 (up from RM0.024 in 1Q 2024). Revenue: RM149.7m (up 11% from 1Q 2024). Net income: RM19.7m (up 27% from 1Q 2024). Profit margin: 13% (up from 12% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Beverage industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 35% per year whereas the company’s share price has increased by 36% per year. Announcement • May 30
Spritzer Bhd Announces First and Final Dividend for Financial Year Ended 31 December 2024 Spritzer Bhd at AGM held on May 30, 2025 declared a first and final dividend of 4.0 sen per share, under the single tier system, in respect of the financial year ended December 31, 2024. Upcoming Dividend • May 29
Upcoming dividend of RM0.04 per share Eligible shareholders must have bought the stock before 05 June 2025. Payment date: 20 June 2025. Payout ratio is a comfortable 36% but the company is paying out more than the cash it is generating. Trailing yield: 2.4%. Lower than top quartile of Malaysian dividend payers (5.6%). Lower than average of industry peers (4.1%). Declared Dividend • May 01
Dividend of RM0.04 announced Shareholders will receive a dividend of RM0.04. Ex-date: 5th June 2025 Payment date: 20th June 2025 Dividend yield will be 2.5%, which is lower than the industry average of 3.8%. Sustainability & Growth Dividend is covered by earnings (36% earnings payout ratio) but not covered by cash flows (122% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 2.4% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Apr 30
Spritzer Bhd, Annual General Meeting, May 30, 2025 Spritzer Bhd, Annual General Meeting, May 30, 2025, at 10:30 Singapore Standard Time. Location: lot 898, jalan reservoir, off jalan air kuning, 34000 taiping, perak darul ridzuan, Malaysia Reported Earnings • Mar 02
Full year 2024 earnings released: EPS: RM0.22 (vs RM0.078 in FY 2023) Full year 2024 results: EPS: RM0.22 (up from RM0.078 in FY 2023). Revenue: RM576.4m (up 17% from FY 2023). Net income: RM71.1m (up 44% from FY 2023). Profit margin: 12% (up from 10% in FY 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.6% p.a. on average during the next 2 years, compared to a 4.6% growth forecast for the Beverage industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has only increased by 31% per year, which means it is significantly lagging earnings growth. Announcement • Feb 28
Spritzer Bhd Proposes First and Final Dividend in Respect of the Financial Year Ended 31 December 2024 The Board of Directors of Spritzer Bhd proposed a first and final dividend of 4.00 sen per share, under the single tier system in respect of the financial year ended 31 December 2024. The first and final dividend is subject to the shareholders' approval at the forthcoming Annual General Meeting. The book closure date and payment date will be announced at a later date. Major Estimate Revision • Dec 04
Consensus EPS estimates increase by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from RM552.2m to RM570.6m. EPS estimate increased from RM0.195 to RM0.216 per share. Net income forecast to grow 8.9% next year vs 8.7% growth forecast for Beverage industry in Malaysia. Consensus price target up from RM2.81 to RM3.25. Share price was steady at RM2.85 over the past week. Price Target Changed • Nov 29
Price target increased by 18% to RM3.32 Up from RM2.81, the current price target is an average from 4 analysts. New target price is 14% above last closing price of RM2.91. Stock is up 60% over the past year. The company is forecast to post earnings per share of RM0.22 for next year compared to RM0.16 last year. Reported Earnings • Nov 28
Third quarter 2024 earnings released: EPS: RM0.054 (vs RM0.053 in 3Q 2023) Third quarter 2024 results: EPS: RM0.054 (up from RM0.053 in 3Q 2023). Revenue: RM143.5m (up 8.2% from 3Q 2023). Net income: RM17.1m (flat on 3Q 2023). Profit margin: 12% (in line with 3Q 2023). Revenue is forecast to grow 6.6% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Beverage industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 33% per year whereas the company’s share price has increased by 31% per year. Announcement • Oct 01
Spritzer Bhd Announces Appointment of Chow Shan Lee as Principal Officer Spritzer Bhd announced appointment of Miss Chow Shan Lee as Principal Officer. Date of change is 01 October 2024. Age is 54 years. Professional Qualification: Chartered Accountant, Malaysian Institute of Accountants (-MIA-), Member since 2000. She's a Chartered Accountant, Chartered Accountants Australia and New Zealand (-CA ANZ-), Member since 1998. She has a degree in Accountancy from Victoria University of Wellington, New Zealand-1993.
Working experience and occupation Ms. Chow started her career as an Audit Assistant in Ernst & Young and her last position in the firm was Audit Manager. She then joined two glove manufacturers as Group Accountant and Group Financial Controller, respectively. Since 2012, Ms. Chow has served as the Group Accountant of Spritzer Group and over the past decade, her role has involved a variety of responsibilities that have supported the Group's financial health and growth. She has overseen the preparation of financial statements, managed budgets, and ensured compliance with regulatory requirements as well as actively involved Groups digital transformation. As the Group Accountant, she has mentored and developed a cohesive accounting team, fostering an environment of continuous learning and professional growth. The designation of Ms. Chow Shan Lee is Group Financial Controller. Reported Earnings • Aug 30
Second quarter 2024 earnings released: EPS: RM0.062 (vs RM0.038 in 2Q 2023) Second quarter 2024 results: EPS: RM0.062 (up from RM0.038 in 2Q 2023). Revenue: RM147.4m (up 19% from 2Q 2023). Net income: RM19.8m (up 63% from 2Q 2023). Profit margin: 13% (up from 9.8% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Beverage industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jun 05
First quarter 2024 earnings released: EPS: RM0.049 (vs RM0.022 in 1Q 2023) First quarter 2024 results: EPS: RM0.049 (up from RM0.022 in 1Q 2023). Revenue: RM136.3m (up 23% from 1Q 2023). Net income: RM15.5m (up 117% from 1Q 2023). Profit margin: 11% (up from 6.5% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Beverage industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 22% per year whereas the company’s share price has increased by 26% per year. Price Target Changed • Jun 04
Price target increased by 18% to RM2.59 Up from RM2.20, the current price target is an average from 4 analysts. New target price is 8.0% below last closing price of RM2.81. Stock is up 78% over the past year. The company is forecast to post earnings per share of RM0.17 for next year compared to RM0.16 last year. Announcement • May 30
Spritzer Bhd Approves the First and Final Dividend for the Financial Year Ended December 31, 2023 Spritzer Bhd approved the first and final dividend of 5.5 sen per share, under the single tier system, in respect of the financial year ended December 31, 2023, at the AGM held on May 30, 2024. Upcoming Dividend • May 30
Upcoming dividend of RM0.055 per share Eligible shareholders must have bought the stock before 06 June 2024. Payment date: 21 June 2024. Payout ratio is a comfortable 35% but the company is not cash flow positive. Trailing yield: 2.1%. Lower than top quartile of Malaysian dividend payers (4.4%). Lower than average of industry peers (3.5%). Announcement • May 01
Spritzer Bhd, Annual General Meeting, May 30, 2024 Spritzer Bhd, Annual General Meeting, May 30, 2024, at 10:30 Singapore Standard Time. Location: Lot 898, Jalan Reservoir, Off Jalan Air Kuning Taiping Perak Malaysia Agenda: To declare a first and final dividend; to re-elect Chok Hooa @ Chok Yin Fatt as Director; to re-elect Lim Seng Lee as Director; to re-elect Tan Chow Yin as Director; to approve the payment of Directors' fees; to approve the payment of other benefits to the Non-Executive Directors from May 31, 2024 until the next AGM of the Company; to re-appoint Deloitte PLT as Auditors of the Company and to authorise the Directors to fix their remuneration; and to consider and approve other matters of business. Declared Dividend • May 01
Dividend of RM0.055 announced Shareholders will receive a dividend of RM0.055. Ex-date: 6th June 2024 Payment date: 21st June 2024 Dividend yield will be 2.3%, which is lower than the industry average of 3.8%. Sustainability & Growth Dividend is covered by earnings (35% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 7.5% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 22% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 29
Full year 2023 earnings released: EPS: RM0.15 (vs RM0.12 in FY 2022) Full year 2023 results: EPS: RM0.15 (up from RM0.12 in FY 2022). Revenue: RM494.3m (up 13% from FY 2022). Net income: RM49.5m (up 34% from FY 2022). Profit margin: 10.0% (up from 8.5% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.4% p.a. on average during the next 2 years, compared to a 4.5% growth forecast for the Beverage industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 16% per year. Announcement • Feb 28
Spritzer Bhd Proposes First and Final Dividend for the Financial Year Ended 31 December 2023 The Board of Directors of Spritzer Bhd proposed a first and final dividend of 5.50 sen per share, under the single tier system in respect of the financial year ended 31 December 2023. The first and final dividend is subject to the shareholders' approval at the forthcoming Annual General Meeting. The book closure date and payment date will be announced at a later date. Valuation Update With 7 Day Price Move • Jan 08
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to RM2.16, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 17x in the Beverage industry in Malaysia. Total returns to shareholders of 86% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at RM1.22 per share. Major Estimate Revision • Dec 04
Consensus EPS estimates increase by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has improved. 2023 revenue forecast increased from RM456.0m to RM486.1m. EPS estimate increased from RM0.148 to RM0.163 per share. Net income forecast to grow 5.4% next year vs 5.4% growth forecast for Beverage industry in Malaysia. Consensus price target up from RM1.80 to RM2.02. Share price rose 7.7% to RM1.82 over the past week. Price Target Changed • Nov 28
Price target increased by 13% to RM2.02 Up from RM1.80, the current price target is an average from 4 analysts. New target price is 11% above last closing price of RM1.82. Stock is up 31% over the past year. The company is forecast to post earnings per share of RM0.16 for next year compared to RM0.12 last year. Reported Earnings • Nov 28
Third quarter 2023 earnings released: EPS: RM0.053 (vs RM0.036 in 3Q 2022) Third quarter 2023 results: EPS: RM0.053 (up from RM0.036 in 3Q 2022). Revenue: RM133.2m (up 10% from 3Q 2022). Net income: RM17.0m (up 49% from 3Q 2022). Profit margin: 13% (up from 9.5% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.6% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Beverage industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 14% per year. Reported Earnings • Aug 30
Second quarter 2023 earnings released: EPS: RM0.038 (vs RM0.024 in 2Q 2022) Second quarter 2023 results: EPS: RM0.038 (up from RM0.024 in 2Q 2022). Revenue: RM125.2m (up 17% from 2Q 2022). Net income: RM12.2m (up 59% from 2Q 2022). Profit margin: 9.7% (up from 7.1% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Beverage industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 7% per year. Upcoming Dividend • Jun 01
Upcoming dividend of RM0.063 per share at 2.7% yield Eligible shareholders must have bought the stock before 08 June 2023. Payment date: 23 June 2023. Payout ratio is a comfortable 35% but the company is not cash flow positive. Trailing yield: 2.7%. Lower than top quartile of Malaysian dividend payers (5.3%). Lower than average of industry peers (3.9%). Upcoming Dividend • Jun 01
Upcoming dividend of RM0.063 per share at 2.7% yield Eligible shareholders must have bought the stock before 08 June 2023. Payment date: 23 June 2023. Payout ratio is a comfortable 35% but the company is not cash flow positive. Trailing yield: 2.7%. Lower than top quartile of Malaysian dividend payers (5.3%). Lower than average of industry peers (3.9%). Announcement • May 31
Spritzer Bhd Approves First and Final Dividend for the Financial Year Ended December 31, 2022 Spritzer Bhd announced that at the Annual General Meeting held on May 30, 2023 declared first and final dividend of 6.25 sen per share, under the single tier system, in respect of the financial year ended December 31, 2022. Reported Earnings • Feb 28
Full year 2022 earnings released: EPS: RM0.18 (vs RM0.12 in FY 2021) Full year 2022 results: EPS: RM0.18 (up from RM0.12 in FY 2021). Revenue: RM438.3m (up 32% from FY 2021). Net income: RM37.0m (up 53% from FY 2021). Profit margin: 8.4% (up from 7.3% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Beverage industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 3% per year. Reported Earnings • Dec 03
Third quarter 2022 earnings released: EPS: RM0.055 (vs RM0.029 in 3Q 2021) Third quarter 2022 results: EPS: RM0.055 (up from RM0.029 in 3Q 2021). Revenue: RM120.6m (up 51% from 3Q 2021). Net income: RM11.4m (up 91% from 3Q 2021). Profit margin: 9.5% (up from 7.5% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Beverage industry in Malaysia. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has remained flat. Price Target Changed • Dec 01
Price target increased to RM2.44 Up from RM2.26, the current price target is an average from 4 analysts. New target price is 17% above last closing price of RM2.09. Stock is up 7.2% over the past year. The company is forecast to post earnings per share of RM0.14 for next year compared to RM0.12 last year. Board Change • Nov 16
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 2 experienced directors. 6 highly experienced directors. Independent Non-Executive Director Chooi Ngan Loh was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 30
Second quarter 2022 earnings released: EPS: RM0.036 (vs RM0.019 in 2Q 2021) Second quarter 2022 results: EPS: RM0.036 (up from RM0.019 in 2Q 2021). Revenue: RM106.8m (up 41% from 2Q 2021). Net income: RM7.62m (up 87% from 2Q 2021). Profit margin: 7.1% (up from 5.4% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is expected to shrink by 2.4% compared to a 8.7% growth forecast for the Beverage industry in Malaysia. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has fallen by 3% per year. Price Target Changed • Jul 22
Price target decreased to RM2.38 Down from RM2.62, the current price target is an average from 3 analysts. New target price is 22% above last closing price of RM1.96. Stock is down 8.4% over the past year. The company is forecast to post earnings per share of RM0.12 for next year compared to RM0.12 last year. Announcement • Jun 03
Spritzer Bhd Announces Adoption of A Dividend Policy The Board of Directors of Spritzer Bhd. announced that the Company has adopted a dividend policy to allow shareholders to participate in the profits of Spritzer, as well as keeping sufficient reserves for future growth. Spritzer is committed to the payment of annual dividends. The quantum of dividends will be determined after taking into consideration, the level of available funds, the amount of retained earnings, capital expenditure commitments and other investment planning requirements. Spritzer targets a dividend pay-out ratio of at least 35% of its audited consolidated profit after taxation attributable to shareholders for each financial year, after excluding non-operating income that is capital in nature. This dividend policy will take effect from the financial year ending 31 December 2022. Upcoming Dividend • Jun 01
Upcoming dividend of RM0.045 per share Eligible shareholders must have bought the stock before 08 June 2022. Payment date: 23 June 2022. Payout ratio is a comfortable 39% but the company is paying out more than the cash it is generating. Trailing yield: 2.4%. Lower than top quartile of Malaysian dividend payers (4.6%). Lower than average of industry peers (2.9%). Reported Earnings • May 31
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: EPS: RM0.032 (up from RM0.029 in 1Q 2021). Revenue: RM99.8m (up 30% from 1Q 2021). Net income: RM6.65m (up 9.7% from 1Q 2021). Profit margin: 6.7% (down from 7.9% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.1%. Earnings per share (EPS) also missed analyst estimates by 13%. Over the next year, revenue is forecast to grow 4.5%, compared to a 12% growth forecast for the industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Price Target Changed • Apr 27
Price target decreased to RM2.62 Down from RM2.82, the current price target is an average from 2 analysts. New target price is 34% above last closing price of RM1.95. Stock is down 11% over the past year. The company is forecast to post earnings per share of RM0.15 for next year compared to RM0.12 last year. Board Change • Apr 27
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 2 experienced directors. 6 highly experienced directors. Independent Non-Executive Director Chooi Loh was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Price Target Changed • Mar 23
Price target decreased to RM2.62 Down from RM2.82, the current price target is an average from 2 analysts. New target price is 33% above last closing price of RM1.97. Stock is down 1.0% over the past year. The company is forecast to post earnings per share of RM0.15 for next year compared to RM0.12 last year. Board Change • Mar 23
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 2 experienced directors. 6 highly experienced directors. Independent Non-Executive Director Chooi Loh was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Feb 26
Spritzer Bhd Proposes First and Final Dividend for the Financial Year Ended December 31, 2021 Spritzer Bhd proposed first and final dividend of 4.5 sen per share, under the single tier system for the financial year ended December 31, 2021, the above dividend is subject to the shareholders' approval at the forthcoming Annual General Meeting. Announcement • Dec 24
Spritzer Bhd Announces Flood Incident in the Shah Alam Factory of Chuan Sin Sdn. Bhd The Board of Directors of Spritzer Bhd announced that a branch factory of one of its subsidiary companies, Chuan Sin Sdn. Bhd. (“CS”), which is located at No. 1, Jalan Sitar 33/6, Seksyen 33, 40400 Shah Alam, Selangor Darul Ehsan was affected by flooding in Shah Alam over the weekend. The operations of CS Shah Alam plant are disrupted for a few days in order to carry out maintenance repairs on machineries and clearing up some stocks in-hand which were damaged. Reported Earnings • Nov 28
Third quarter 2021 earnings: EPS and revenues exceed analyst expectations Third quarter 2021 results: EPS: RM0.029 (down from RM0.05 in 3Q 2020). Revenue: RM80.0m (down 11% from 3Q 2020). Net income: RM5.99m (down 43% from 3Q 2020). Profit margin: 7.5% (down from 12% in 3Q 2020). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 2.0%. Earnings per share (EPS) also surpassed analyst estimates by 30%. Earnings per share (EPS) surpassed analyst estimates by 30%. Over the next year, revenue is forecast to grow 18%, compared to a 14% growth forecast for the industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 26
Second quarter 2021 earnings released: EPS RM0.02 (vs RM0.01 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: RM76.0m (up 38% from 2Q 2020). Net income: RM4.08m (up 102% from 2Q 2020). Profit margin: 5.4% (up from 3.7% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Reported Earnings • May 29
First quarter 2021 earnings released: EPS RM0.029 (vs RM0.042 in 1Q 2020) The company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2021 results: Revenue: RM76.7m (down 18% from 1Q 2020). Net income: RM6.06m (down 31% from 1Q 2020). Profit margin: 7.9% (down from 9.4% in 1Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Upcoming Dividend • May 27
Upcoming dividend of RM0.045 per share Eligible shareholders must have bought the stock before 03 June 2021. Payment date: 18 June 2021. Trailing yield: 2.1%. Lower than top quartile of Malaysian dividend payers (4.0%). In line with average of industry peers (2.2%). Price Target Changed • Mar 28
Price target increased to RM2.63 Up from RM2.34, the current price target is provided by 1 analyst. New target price is 30% above last closing price of RM2.03. Stock is up 7.4% over the past year. Reported Earnings • Feb 27
Full year 2020 earnings released: EPS RM0.17 (vs RM0.15 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: RM307.3m (down 18% from FY 2019). Net income: RM35.7m (up 14% from FY 2019). Profit margin: 12% (up from 8.3% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Analyst Estimate Surprise Post Earnings • Feb 27
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 2.0%. Earnings per share (EPS) also surpassed analyst estimates by 30%. Over the next year, revenue is forecast to grow 21%, compared to a 11% growth forecast for the Beverage industry in Malaysia. Price Target Changed • Jan 22
Price target raised to RM2.34 Up from RM2.13, the current price target is provided by 1 analyst. The new target price is 24% above the current share price of RM1.89. As of last close, the stock is down 14% over the past year. Is New 90 Day High Low • Dec 04
New 90-day high: RM2.07 The company is up 5.0% from its price of RM1.98 on 04 September 2020. The Malaysian market is up 8.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Beverage industry, which is up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is RM2.36 per share. Major Estimate Revision • Dec 03
Analysts update estimates The 2020 consensus revenue estimate was lowered from RM347.3m to RM333.9m. Earnings per share (EPS) increased from RM0.11 to RM0.13 for the same period. Net income is expected to grow by 0.2% next year compared to 7.4% growth forecast for the Beverage industry in Malaysia. The consensus price target of RM2.22 was unchanged from the last update. Share price is up 2.7% to RM1.89 over the past week. Reported Earnings • Nov 26
Third quarter 2020 earnings released: EPS RM0.05 The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: RM88.6m (down 9.8% from 3Q 2019). Net income: RM10.4m (up 14% from 3Q 2019). Profit margin: 12% (up from 9.3% in 3Q 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Oct 27
New 90-day low: RM1.85 The company is down 7.0% from its price of RM2.00 on 29 July 2020. The Malaysian market is down 4.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Beverage industry, which is down 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is RM0.62 per share. Is New 90 Day High Low • Sep 25
New 90-day low: RM1.87 The company is down 9.0% from its price of RM2.05 on 26 June 2020. The Malaysian market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Beverage industry, which is down 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is RM0.62 per share.