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KORE's net profit rose 30.5% yoy to USD -24.5 mil in 2021

By Helgi Analytics - August 29, 2022

KORE made a net profit of USD -24.5 mil with revenues of USD 248 mil in 2021, up by 30.5% and up by 16.1%, respecti...

KORE's price/earnings (P/E) rose 21.1% yoy to -11.6 in 2021

By Helgi Analytics - August 29, 2022

KORE stock traded at USD 6.74 per share at the end 2021 translating into a market capitalization of USD 283 mil. Since the end of...

KORE's ROCE remain unchanged yoy at -3.84% in 2021

By Helgi Analytics - August 29, 2022

KORE made a net profit of USD -24.5 mil in 2021, up 30.5% compared to the previous year. Historically, between 2019 and 2021...

Profit Statement 2019 2020 2021
Sales USD mil 169 214 248
Gross Profit USD mil 105 116 126
EBITDA USD mil 40.2 42.9 34.3
EBIT USD mil -7.94 -9.54 -16.2
Financing Cost USD mil ... ... 23.3
Pre-Tax Profit USD mil -36.4 -40.5 -34.1
Net Profit USD mil -23.4 -35.2 -24.5
Dividends USD mil 0 0 0
Balance Sheet 2019 2020 2021
Total Assets USD mil ... 700 760
Non-Current Assets USD mil ... 638 598
Current Assets USD mil ... 62.3 161
Working Capital USD mil ... 6.07 29.9
Shareholders' Equity USD mil ... 20.2 272
Liabilities USD mil ... 680 487
Total Debt USD mil ... 319 403
Net Debt USD mil ... -1.94 317
Ratios 2019 2020 2021
ROE % ... -174 -16.7
ROCE % ... ... -3.84
Gross Margin % 62.4 54.2 50.8
EBITDA Margin % 23.8 20.1 13.8
EBIT Margin % -4.70 -4.46 -6.51
Net Margin % -13.9 -16.5 -9.85
Net Debt/EBITDA ... -0.045 9.25
Net Debt/Equity % ... -9.58 116
Cost of Financing % ... ... 6.44
Valuation 2019 2020 2021
Market Capitalisation USD mil ... 516 283
Enterprise Value (EV) USD mil ... 514 600
Number Of Shares mil 71.8 71.8 41.9
Share Price USD ... 7.18 6.74
EV/EBITDA ... 12.0 17.5
EV/Sales ... 2.40 2.42
Price/Earnings (P/E) ... -14.6 -11.6
Price/Book Value (P/BV) ... 25.5 1.04
Dividend Yield % ... 0 0

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overview Unit 2019 2020 2021 2022 2023 2024 2025 2026 2027
income statement                  
Sales USD mil 169 214              
Gross Profit USD mil 105 116              
EBIT USD mil -7.94 -9.54              
Net Profit USD mil -23.4 -35.2              
                     
ROE % ... -174              
EBIT Margin % -4.70 -4.46              
Net Margin % -13.9 -16.5              
balance sheet                  
Total Assets USD mil ... 700              
Non-Current Assets USD mil ... 638              
Current Assets USD mil ... 62.3              
                     
Shareholders' Equity USD mil ... 20.2              
Liabilities USD mil ... 680              
Non-Current Liabilities USD mil ... 628              
Current Liabilities USD mil ... 52.2              
                     
Net Debt/EBITDA ... -0.045              
Net Debt/Equity % ... -9.58              
Cost of Financing % ... ...   ... ... ... ... ... ...
cash flow                  
Total Cash From Operations USD mil 14.3 26.5              
Total Cash From Investing USD mil -50.4 -11.6              
Total Cash From Financing USD mil 37.0 -12.7              
Net Change In Cash USD mil 0.881 2.15              
valuation                  
Market Capitalisation USD mil ... 516              
Enterprise Value (EV) USD mil ... 514              
Number Of Shares mil 71.8 71.8              
Share Price USD ... 7.18              
Price/Earnings (P/E) ... -14.6              
Price/Cash Earnings (P/CE) ... 29.8              
EV/EBITDA ... 12.0              
Price/Book Value (P/BV) ... 25.5              
Dividend Yield % ... 0              
income statement Unit 2019 2020 2021 2022 2023 2024 2025 2026 2027
income statement                  
Sales USD mil 169 214              
Cost of Goods & Services USD mil 63.7 97.9              
Gross Profit USD mil 105 116              
Selling, General & Admin USD mil 65.3 72.9   ... ... ... ... ... ...
Other Operating Expense USD mil ... ...   ... ... ... ... ... ...
Other Operating Cost (Income) USD mil ... ...   ... ... ... ... ... ...
EBITDA USD mil 40.2 42.9              
Depreciation USD mil 48.1 52.5              
EBIT USD mil -7.94 -9.54              
Net Financing Cost USD mil 28.4 31.0              
Financing Cost USD mil ... ...   ... ... ... ... ... ...
Financing Income USD mil ... ...   ... ... ... ... ... ...
FX (Gain) Loss USD mil ... ...   ... ... ... ... ... ...
Extraordinary Cost USD mil ... ...   ... ... ... ... ... ...
Pre-Tax Profit USD mil -36.4 -40.5              
Tax USD mil -12.9 -5.32              
Minorities USD mil 0 0              
Net Profit USD mil -23.4 -35.2              
Net Profit Avail. to Common USD mil -23.4 -35.2              
Dividends USD mil 0 0              
growth rates                  
Total Revenue Growth % ... 26.4              
EBITDA Growth % ... 6.86              
EBIT Growth % ... 20.1              
Pre-Tax Profit Growth % ... 11.4              
Net Profit Growth % ... 50.2              
ratios                  
ROE % ... -174              
ROA % ... -5.03              
ROCE % ... ...              
Gross Margin % 62.4 54.2              
EBITDA Margin % 23.8 20.1              
EBIT Margin % -4.70 -4.46              
Net Margin % -13.9 -16.5              
Payout Ratio % 0 0              
Cost of Financing % ... ...   ... ... ... ... ... ...
Net Debt/EBITDA ... -0.045              
balance sheet Unit 2019 2020 2021 2022 2023 2024 2025 2026 2027
balance sheet                  
Cash & Cash Equivalents USD mil ... 10.3              
Receivables USD mil ... 40.7              
Inventories USD mil ... 5.84              
Other ST Assets USD mil ... 0.726              
Current Assets USD mil ... 62.3              
Property, Plant & Equipment USD mil ... 13.7              
LT Investments & Receivables USD mil ... 0              
Intangible Assets USD mil ... 623              
Goodwill USD mil ... 0              
Non-Current Assets USD mil ... 638              
Total Assets USD mil ... 700              
                     
Trade Payables USD mil ... 40.4              
Short-Term Debt USD mil ... 4.02              
Other ST Liabilities USD mil ... 7.77              
Current Liabilities USD mil ... 52.2              
Long-Term Debt USD mil ... 315              
Other LT Liabilities USD mil ... 313              
Non-Current Liabilities USD mil ... 628              
Liabilities USD mil ... 680              
Preferred Equity and Hybrid Capital USD mil ... 0              
Share Capital USD mil ... 252              
Treasury Stock USD mil ... 0              
Equity Before Minority Interest USD mil ... 20.2              
Minority Interest USD mil ... 0              
Equity USD mil ... 20.2              
growth rates                  
Total Asset Growth % ... ...              
Shareholders' Equity Growth % ... ...              
Net Debt Growth % ... ...              
Total Debt Growth % ... ...              
ratios                  
Total Debt USD mil ... 319              
Net Debt USD mil ... -1.94              
Working Capital USD mil ... 6.07              
Capital Employed USD mil ... 644              
Net Debt/Equity % ... -9.58              
Current Ratio ... 1.19              
Quick Ratio ... 0.976              
cash flow Unit 2019 2020 2021 2022 2023 2024 2025 2026 2027
cash flow                  
Net Profit USD mil -23.4 -35.2              
Depreciation USD mil 48.1 52.5              
Non-Cash Items USD mil ... ...              
Change in Working Capital USD mil ... ...              
Total Cash From Operations USD mil 14.3 26.5              
                     
Capital Expenditures USD mil -50.4 -11.6              
Net Change in LT Investment USD mil ... ...   ... ... ... ... ... ...
Net Cash From Acquisitions USD mil ... ...   ... ... ... ... ... ...
Other Investing Activities USD mil ... ...   ... ... ... ... ... ...
Total Cash From Investing USD mil -50.4 -11.6              
                     
Dividends Paid USD mil 0 0              
Issuance Of Shares USD mil -0.080 -0.200              
Issuance Of Debt USD mil 39.2 -12.5              
Other Financing Activities USD mil ... ...   ... ... ... ... ... ...
Total Cash From Financing USD mil 37.0 -12.7              
                     
Effect of FX Rates USD mil ... ...   ... ... ... ... ... ...
Net Change In Cash USD mil 0.881 2.15              
ratios                  
Days Sales Outstanding days ... 69.4              
Days Sales Of Inventory days ... 21.8              
Days Payable Outstanding days ... 151              
Cash Conversion Cycle days ... -59.5              
Cash Earnings USD mil 24.7 17.3              
Free Cash Flow USD mil -36.1 14.9              
Capital Expenditures (As % of Sales) % 29.8 5.43              
other ratios Unit 2019 2020 2021 2022 2023 2024 2025 2026 2027
                   
Operating Cost (As % of Sales) % ... ...   ... ... ... ... ... ...
Effective Tax Rate % 35.6 13.1              
Total Revenue Growth (5-year average) % ... ... ... ... ...        
valuation Unit 2019 2020 2021 2022 2023 2024 2025 2026 2027
                   
Market Capitalisation USD mil ... 516              
Enterprise Value (EV) USD mil ... 514              
Number Of Shares mil 71.8 71.8              
Share Price USD ... 7.18              
EV/EBITDA ... 12.0              
Price/Earnings (P/E) ... -14.6              
Price/Cash Earnings (P/CE) ... 29.8              
P/FCF ... 34.7              
Price/Book Value (P/BV) ... 25.5              
Dividend Yield % ... 0              
Free Cash Flow Yield % ... 2.88              
Earnings Per Share (EPS) USD -0.326 -0.490              
Cash Earnings Per Share USD 0.344 0.241              
Free Cash Flow Per Share USD -0.503 0.207              
Book Value Per Share USD ... 0.282              
Dividend Per Share USD 0 0              
EV/Sales ... 2.40              
EV/EBIT ... -53.8              
EV/Free Cash Flow ... 34.5              
EV/Capital Employed ... 0.798              
Earnings Per Share Growth % ... 50.2              
Cash Earnings Per Share Growth % ... -30.0              
Book Value Per Share Growth % ... ...              

Get all company financials in excel:

Download Sample   $19.99

KORE's Net Margin rose 40.2% yoy to -9.85% in 2021

By Helgi Analytics - August 29, 2022

KORE made a net profit of USD -24.5 mil with revenues of USD 248 mil in 2021, up by 30.5% and up by 16.1%, respectively, compared to the previous year. This translates into a net margin of -9.85%. Historically, between 2019 and 2021, the firm’s ne...

KORE's Net Debt/EBITDA rose 20,620% yoy to 9.25 in 2021

By Helgi Analytics - August 29, 2022

KORE's net debt stood at USD 317 mil and accounted for 116% of equity at the end of 2021. The ratio is up 126 pp compared to the previous year. Historically, the firm’s net debt to equity reached a high of 116% in 2021 and a low of -9.58% ...

KORE's P/FCF fell 129% yoy to -10.0 in 2021

By Helgi Analytics - August 29, 2022

KORE stock traded at USD 6.74 per share at the end 2021 translating into a market capitalization of USD 283 mil. Since the end of 2016, the stock has appreciated by 0% representing an annual average growth of %. At the end of 2021, the firm traded at pri...

KORE's Capital Expenditures fell 15.7% yoy to USD 13.4 mil in 2021

By Helgi Analytics - August 29, 2022

KORE invested a total of USD 13.4 mil in 2021, up 15.7% compared to the previous year. Historically, between 2019 - 2021, the company's investments stood at a high of USD 50.4 mil in 2019 and a low of USD 11.6 mil in 2020. As a percen...

KORE's Share Price fell 6.13% yoy to USD 6.74 in 2021

By Helgi Analytics - August 29, 2022

KORE stock traded at USD 6.74 per share at the end 2021 implying a market capitalization of USD 283 mil. Since the end of 2016, stock has appreciated by % implying an annual average growth of % In absolute terms, the value of the company rose by USD ...

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Finance

KORE has been growing its sales by 7.97% a year on average in the last 5 years. EBITDA has grown on average by 10.6% a year during that time to total of USD 104 mil in 2027, or 26.7% of sales. That’s compared to 25.8% average margin seen in last five years.

The company netted USD 29.5 mil in 2027 implying ROE of 15.1% and ROCE of 3.96%. Again, the average figures were 0.792% and -0.090%, respectively when looking at the previous 5 years.

KORE’s net debt amounted to USD 287 mil at the end of 2027, or 136% of equity. When compared to EBITDA, net debt was 2.76x, down when compared to average of 3.44x seen in the last 5 years.

Valuation

KORE stock traded at USD 3.03 per share at the end of 2027 resulting in a market capitalization of USD 231 mil. Over the previous five years, stock price grew by 0% or 0% a year on average. The closing price put stock at a 12-month trailing EV/EBITDA of 4.98x and price to earnings (PE) of 7.83x as of 2027.