Havanna Holding SA Class B

Havanna Holding SA Class B

3,890.00
ARS
-160.00
(-3.95%)
253.08EPS
22.16P/E
251.32BMarket Cap
Havanna Holding SA Class B
BYMA:HAVA.CI
(Buenos Aires Stock Exchange)

Recent

price

3,890.00

P/E

ratio

22.16

div

yld

-0.63%

ROIC.AI

2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
ARS
18.9
15.42
19.75
22.11
44.54
69.6
91
88.1
227.57
917.85
2,059.81
3,302.17
3,361.04
3,619.08
Revenue per Share
1.13
1.05
1.54
1.63
1.48
4.63
3.67
-18.05
10
156.63
332.88
362.28
241.5
241.44
Basic EPS, GAAP
1.23
0.75
0.32
0.29
3.08
2.29
6.09
3.65
51.18
186.89
245.83
398.36
74.88
140.51
Free Cash Flow per Basic Share
1.06
0.66
1.05
1.47
2.37
4.18
12.85
15.15
- -
30.59
189.55
497.58
145.53
-24.52
Dividend per Share
1.7
2.19
2.8
6.59
24.43
38.31
43.55
32.82
108.72
382.78
1,008.13
1,186.79
1,292.05
1,358.45
Book Value per Share
0.3
0.79
1.4
5.17
11.54
18.34
16.34
-8.06
29.02
134.35
467.31
477.34
584.7
532.09
Tangible Book Value per Share
25
43
43
45
47
47
47
47
47
47
47
47
47
47
Basic Weighted Avg Shares
471
659
843
998
2,092
3,270
4,275
4,139
10,686
43,117
96,762
155,123
157,888
170,001
Sales/Revenue/Turnover
13.85
13.16
14.63
11.01
12.74
14.57
11.86
-8.68
20
28.32
24.76
21.28
17.12
15.61
Operating Margin (%)
8
9
- -
21
53
99
325
402
554
1,573
3,878
6,486
7,810
8,076
Depreciation Expense
28
45
66
74
69
218
173
-848
470
7,358
15,637
17,019
11,345
11,341
Net Income, GAAP
42.22
38.98
37.84
37.08
59.81
45.81
52.5
- -
68.19
40
42.1
41.33
39.27
39.32
Effective Tax Rate (%)
5.96
6.8
7.82
7.39
3.32
6.66
4.04
-20.49
4.4
17.06
16.16
10.97
7.19
6.67
Profit Margin (%)
-28
-9
-31
76
101
128
-344
-1,543
-1,705
-1,989
-630
-7,788
19,638
15,063
Working Capital
5
33
45
47
59
73
139
379
292
665
1,358
9,100
35,169
41,028
LT Debt
78
100
127
295
1,202
1,885
2,143
1,653
5,229
18,834
49,603
58,401
63,569
66,831
Total Equity
- -
25.61
27.47
23.25
11.45
14.32
9.38
- -
10.3
41.95
30.37
23.5
16.02
16.22
Return on Invested Capital (%)
- -
30.95
32.98
25.18
8.54
12.9
7.94
- -
14.31
53.72
44.97
32.42
16.25
20.25
Return on Capital (%)
- -
53.91
61.9
36.77
9.71
14.77
8.97
-47.27
14.13
63.74
47.86
33.01
19.48
20
Return on Common Equity (%)

Capital Structure

ARS

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
6,336
5,448
9,974
LT Borrowings
32,434
32,362
38,091
LT Finance Leases
2,735
2,920
2,937
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
47
47
47
Market Capitalization
285,145
222,432
251,322

Working Capital

ARS

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
49,121
57,057
43,479
Cash, Cash Equivalents & STI
4,320
14,187
1,419
Accounts Receivable, Net
21,234
17,557
14,992
Inventories
19,093
19,885
21,177
Total Current Liabilities
29,483
29,201
28,416
Payables & Accruals
- -
- -
- -
ST Debt
6,336
5,448
9,974
Deferred Revenue
- -
- -
- -

Growth Rates

ARS

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
115.31%
133.28%
8.85%
Free Cash Flow
266.49%
316.22%
-81.2%
Net Income, GAAP
100.66%
279.86%
-33.34%
Sales/Revenue/Turnover
86%
129.64%
1.78%
Total Cash Common Dividend
- -
- -
-70.75%

Quarterly Revenue

ARS

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
41,863
26,428
30,165
38,077
155,123
2025
51,047
35,743
35,858
50,424
157,888
2026
51,430
32,288
- -
- -
- -

Quarterly Earnings Per Share

ARS

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
195.74
65.47
-18.81
70.13
362.28
2025
156.97
17.05
37.57
57.41
241.5
2026
163.15
-16.71
- -
- -
- -

Quarterly Dividends Per Share

ARS

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
179.48
255.88
25.98
28.11
497.58
2025
- -
- -
-35.12
10.6
145.53
2026
- -
- -
- -
- -
- -
Business
Havanna Holding S.A., through its operating subsidiaries, manufactures, markets, and retails premium confectionery, specialty coffee, and bakery goods, while operating an extensive network of franchised and company-owned café-boutiques. Founded in 1947 and headquartered in Buenos Aires, Argentina, the company conducts its business across industrial manufacturing, retail food service, and wholesale distribution segments. The company's product and service offerings encompass: traditional and specialty alfajores, including milk chocolate, dark chocolate, 70% pure cocoa, white chocolate, walnut, meringue, sea salt-infused, and certified gluten-free formulations; chocolate confections and specialties, comprising chocolate-covered dulce de leche cones under the Havannet brand, chocolate bars, filled bonbons, artisanal pralines, seasonal panettones, and holiday confections; spreads and condiments, centered on proprietary artisanal dulce de leche varieties; baked goods, including sweet and savory cookies, biscuits, and assorted pastries; and hot and cold beverages, featuring proprietary espresso coffee blends, whole-bean and ground coffees, teas, and specialty chocolate beverages. In addition, the company provides comprehensive retail hospitality and food service operations through its branded Havanna café concept, offering table service, take-away dining, and packaged corporate and holiday gift sets. Havanna Holding S.A. operates through a diversified distribution infrastructure that includes dedicated retail boutiques, airport travel retail and duty-free locations, mass-market supermarket channels, convenience stores, corporate gift programs, and direct-to-consumer e-commerce channels. While maintaining its core operational base and extensive retail network across Argentina, the company distributes and markets its products internationally, operating retail locations and commercial partnerships in Brazil, the United States, Chile, Uruguay, Paraguay, Bolivia, Peru, and Spain, alongside selective export distribution to additional global markets. In recent developments, Havanna Holding S.A. has executed key strategic expansions, product rollouts, and operational enhancements across its domestic and international operations. The company launched its high-profile commemorative Mar del Plata sea salt and double dulce de leche alfajor, which set historical sales records and was subsequently incorporated into permanent domestic production and international export distribution. Operationally, the company has completed capital expenditures to upgrade and automate packaging and manufacturing lines at its primary industrial production facility in the Batán Industrial Park near Mar del Plata, increasing capacity to satisfy growing export demand. Additionally, Havanna Holding S.A. has accelerated its international store openings, focusing on expanding its franchise network in key urban centers across Brazil and the southeastern United States, while simultaneously broadening its portfolio of certified gluten-free (sin TACC) and better-for-you confectionery items to target health-conscious consumer segments.