Cash flow Amplifon S.p.A.

Equities

AMP

IT0004056880

Medical Equipment, Supplies & Distribution

Market Closed - Borsa Italiana Other stock markets 11:44:59 2024-09-10 am EDT			After market 03:59:59 pm
27.80 ^EUR	-1.91%		27.74	-0.20%

03:52pm	AMPLIFON : Incorporating the moderation in profitability guidance, although long-term attractiveness is intact
12:09pm	Hearing Aid Stocks Drop After Apple Adds Health Features to AirPods	DJ

fcadb22abebe9e49282.MooR-aTUKKNRFzQj6PpyDv9M34zqLUhne_dckYjmGmY.euNwgOWSZ_Y1W1N7q6s3TaA4lO6ESR4eTrMOp9LfX190-HuOyKNH-Q54dQ

Published financial data: AMPLIFON S.P.A.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	1.73B	1.56B	1.95B	2.12B	2.26B
Total Revenues	1.73B	1.56B	1.95B	2.12B	2.26B
Cost of Goods Sold, Total	1.33B	1.19B	1.46B	1.59B	1.71B
Gross Profit	401M	366M	487M	528M	548M
Selling General & Admin Expenses, Total	9.5M	8.69M	9.81M	12.39M	15.94M
Depreciation & Amortization - (IS)	130M	137M	143M	160M	173M
Amortization of Goodwill and Intangible Assets - (IS)	60.53M	61.48M	74.71M	80.08M	93.39M
Other Operating Expenses	-1.37M	-4M	-5.41M	-9.83M	-9.08M
Other Operating Expenses, Total	199M	204M	222M	242M	273M
Operating Income	202M	162M	265M	286M	275M
Interest Expense, Total	-25.94M	-28.47M	-27.68M	-30.69M	-44.62M
Interest And Investment Income	201K	182K	198K	598K	2.08M
Net Interest Expenses	-25.74M	-28.29M	-27.48M	-30.09M	-42.54M
Income (Loss) On Equity Invest.	188K	-346K	120K	309K	555K
Currency Exchange Gains (Loss)	-445K	761K	1.12M	-2.72M	-3.17M
Other Non Operating Income (Expenses)	-578K	-1.2M	2.15M	-2.39M	-5.97M
EBT, Excl. Unusual Items	176M	133M	241M	251M	224M
Restructuring Charges	-2.02M	-	-	-	-
Merger & Related Restructuring Charges	-22.19M	-	-11.91M	-5.58M	-2.3M
Impairment of Goodwill	-	-	-	-	-
Gain (Loss) On Sale Of Investments	-373K	-106K	1.45M	-45K	1.66M
Gain (Loss) On Sale Of Assets	-	-	-	-	-
Asset Writedown	-1.05M	-3.49M	-4.52M	-333K	-1.01M
Other Unusual Items	-	9.68M	-2.54M	-949K	-12.43M
EBT, Incl. Unusual Items	150M	139M	223M	244M	210M
Income Tax Expense	41.62M	38.26M	59.76M	64.96M	54.72M
Earnings From Continuing Operations	109M	101M	164M	179M	155M
Earnings Of Discontinued Operations	-	-	-5.76M	-	-
Net Income to Company	109M	101M	158M	179M	155M
Minority Interest	142K	-58K	-58K	-255K	114K
Net Income - (IS)	109M	101M	158M	179M	155M
Net Income to Common Incl Extra Items	109M	101M	158M	179M	155M
Net Income to Common Excl. Extra Items	109M	101M	164M	179M	155M
Per Share Items
Net EPS - Basic	0.49	0.45	0.7	0.8	0.69
Basic EPS - Continuing Operations	0.49	0.45	0.73	0.8	0.69
Basic Weighted Average Shares Outstanding	222M	224M	225M	224M	224M
Net EPS - Diluted	0.48	0.45	0.69	0.79	0.69
Diluted EPS - Continuing Operations	0.48	0.45	0.72	0.79	0.69
Diluted Weighted Average Shares Outstanding	226M	227M	227M	227M	225M
Normalized Basic EPS	0.5	0.37	0.67	0.7	0.63
Normalized Diluted EPS	0.49	0.37	0.66	0.69	0.62
Dividend Per Share	-	0.22	0.26	0.29	0.29
Payout Ratio	28.47	-	31.28	32.62	42.13
American Depositary Receipts Ratio (ADR)	4	4	4	4	4
Supplemental Items
EBITDA	284M	251M	387M	417M	385M
EBITA	242M	203M	340M	366M	330M
EBIT	202M	162M	265M	286M	275M
EBITDAR	296M	260M	397M	429M	401M
Effective Tax Rate - (Ratio)	27.72	27.46	26.76	26.65	26.09
Total Current Taxes	47.33M	47.38M	63.44M	66.9M	61.63M
Total Deferred Taxes	-5.72M	-9.12M	-3.68M	-1.95M	-6.9M
Normalized Net Income	110M	83.22M	150M	156M	140M
Interest on Long-Term Debt	11.36M	10.43M	10.36M	11.37M	14.81M
Supplemental Operating Expense Items
Net Rental Expense, Total	11.3M	9.74M	10.8M	12.39M	15.94M
Imputed Operating Lease Interest Expense	2.08M	1.52M	1.5M	1.95M	3.75M
Imputed Operating Lease Depreciation	9.22M	8.22M	9.3M	10.45M	12.19M
Stock-Based Comp., COGS (Total)	16.5M	16.38M	17.11M	13.07M	30.28M
Total Stock-Based Compensation	16.5M	16.38M	17.11M	13.07M	30.28M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	138M	545M	269M	180M	193M
Short Term Investments	240K	-	-	-	-
Trading Asset Securities, Total	2.2M	-	-	-	-
Total Cash And Short Term Investments	141M	545M	269M	180M	193M
Accounts Receivable, Total	205M	169M	169M	192M	231M
Other Receivables	51.4M	35.77M	77.21M	53.91M	70.16M
Total Receivables	257M	205M	246M	246M	301M
Inventory	64.59M	57.43M	62.57M	76.26M	88.32M
Prepaid Expenses	12.58M	10.18M	8.78M	13.48M	18.36M
Other Current Assets, Total	11.96M	23.56M	60.75M	77.48M	19.96M
Total Current Assets	487M	841M	647M	593M	621M
Gross Property Plant And Equipment	1.06B	1.15B	1.33B	1.45B	1.63B
Accumulated Depreciation	-448M	-566M	-711M	-810M	-934M
Net Property Plant And Equipment	615M	587M	624M	645M	700M
Long-term Investments	10.47M	6.33M	13.12M	2.09M	2.44M
Goodwill	1.22B	1.28B	1.68B	1.75B	1.8B
Other Intangibles, Total	368M	361M	415M	420M	417M
Loans Receivable Long-Term	-	-	-	8.49M	12.46M
Deferred Tax Assets Long-Term	81.43M	83.67M	85.18M	81.78M	82.7M
Deferred Charges Long-Term	7.34M	7.78M	9.45M	11.13M	11.28M
Other Long-Term Assets, Total	67.52M	59.92M	40.77M	59.83M	47.31M
Total Assets	2.85B	3.23B	3.52B	3.58B	3.69B
Liabilities
Accounts Payable, Total	177M	181M	243M	326M	359M
Accrued Expenses, Total	126M	131M	221M	171M	177M
Short-term Borrowings	94.62M	5.66M	62.29M	19.1M	147M
Current Portion of Long-Term Debt	69.36M	70.07M	89.37M	225M	170M
Current Portion of Leases	81.58M	85.43M	98.66M	99.72M	114M
Current Income Taxes Payable	24.53M	41.31M	30.86M	57.55M	46.65M
Unearned Revenue Current, Total	102M	110M	113M	120M	130M
Other Current Liabilities	47.44M	47.28M	29.27M	38.95M	37.13M
Total Current Liabilities	722M	671M	886M	1.06B	1.18B
Long-Term Debt	755M	1.08B	1.01B	799M	710M
Long-Term Leases	343M	337M	353M	369M	384M
Unearned Revenue Non Current	135M	130M	144M	154M	154M
Pension & Other Post Retirement Benefits	25.28M	24.02M	20.76M	8.94M	12.96M
Deferred Tax Liability Non Current	102M	95.15M	105M	107M	98.45M
Other Non Current Liabilities	72.47M	93.37M	64.97M	41.77M	52.99M
Total Liabilities	2.16B	2.43B	2.59B	2.54B	2.59B
Common Stock, Total	4.53M	4.53M	4.53M	4.53M	4.53M
Additional Paid In Capital	203M	203M	203M	203M	203M
Retained Earnings	543M	649M	753M	871M	966M
Treasury Stock	-29.13M	-14.28M	-28.84M	-49.9M	-17.5M
Comprehensive Income and Other	-25.6M	-41.5M	-6.21M	10.3M	-54.54M
Total Common Equity	695M	801M	925M	1.04B	1.1B
Minority Interest	1.08M	985K	2.1M	1.84M	759K
Total Equity	696M	802M	927M	1.04B	1.1B
Total Liabilities And Equity	2.85B	3.23B	3.52B	3.58B	3.69B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	223M	225M	225M	225M	226M
ECS Total Common Shares Outstanding	223M	225M	225M	225M	226M
Book Value / Share	3.12	3.56	4.11	4.62	4.88
Tangible Book Value	-888M	-842M	-1.17B	-1.14B	-1.12B
Tangible Book Value Per Share	-3.98	-3.75	-5.2	-5.06	-4.94
Total Debt	1.34B	1.57B	1.62B	1.51B	1.52B
Net Debt	1.2B	1.03B	1.35B	1.33B	1.33B
Debt Equivalent Oper. Leases	90.36M	77.94M	86.38M	99.14M	127M
Minority Interest, Total (Incl. Fin. Div)	1.08M	985K	2.1M	1.84M	759K
Equity Method Investments, Total	2.31M	2M	2.13M	2.09M	2.44M
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Work In Process, Total	-	-	-	-	-
Inventories - Finished Goods, Total	71.11M	69.83M	73.58M	89.76M	100M
Land - (BS)	209K	205K	219K	154K	129K
Buildings, Total	240M	267M	290M	299M	322M
Machinery, Total	302M	288M	324M	335M	363M
Full Time Employees	11K	11.26K	12.59K	13.2K	12.72K
Accumulated Allowance for Doubtful Accounts (Supple)	12.54M	12.86M	14.77M	12.78M	14.84M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	109M	101M	158M	179M	155M
Depreciation & Amortization - CF	130M	137M	143M	160M	174M
Amortization of Goodwill and Intangible Assets - (CF)	39.97M	40.61M	74.71M	80.08M	55.43M
Depreciation & Amortization, Total	170M	178M	218M	240M	229M
Amortization of Deferred Charges, Total - (CF)	20.56M	20.88M	-	-	38.02M
(Gain) Loss From Sale Of Asset	-	-	-	-	-
Asset Writedown & Restructuring Costs	3.08M	3.49M	9.6M	334K	506K
(Income) Loss On Equity Investments - (CF)	-370K	311K	-120K	-306K	-550K
Stock-Based Compensation (CF)	-	-	-	-	-
Net Cash From Discontinued Operations	-50K	-	-	-	-
Other Operating Activities, Total	24.26M	36.29M	9.19M	36.74M	11.03M
Change In Accounts Receivable	-33.25M	32.87M	3.02M	-22.51M	-49.12M
Change In Inventories	-2.96M	942K	178K	-16.21M	-11.36M
Change In Accounts Payable	3.24M	5.65M	53.09M	80.24M	24.15M
Change in Other Net Operating Assets	26.28M	11.93M	11.82M	-37.9M	16.62M
Cash from Operations	319M	391M	462M	459M	414M
Capital Expenditure	-50.51M	-30.11M	-51.77M	-56.85M	-75.34M
Sale of Property, Plant, and Equipment	2.24M	3.64M	2.37M	9.34M	1.8M
Cash Acquisitions	-73.19M	-89.2M	-428M	-87.49M	-122M
Sale (Purchase) of Intangible assets	-40.6M	-30.73M	-61.63M	-58.79M	-66.31M
Investment in Marketable and Equity Securities, Total	378K	-	5.17M	-	-
Other Investing Activities, Total	-	12.11M	-	-	-
Cash from Investing	-162M	-134M	-534M	-194M	-261M
Long-Term Debt Issued, Total	-	232M	7.89M	-	-
Total Debt Issued	-	232M	7.89M	-	-
Long-Term Debt Repaid, Total	-82.76M	-72.8M	-95.22M	-236M	-116M
Total Debt Repaid	-82.76M	-72.8M	-95.22M	-236M	-116M
Issuance of Common Stock	-	-	458K	-	-
Repurchase of Common Stock	-	-	-31.08M	-53.09M	-
Common Dividends Paid	-30.94M	-	-49.36M	-58.24M	-65.36M
Common & Preferred Stock Dividends Paid	-30.94M	-	-49.36M	-58.24M	-65.36M
Other Financing Activities, Total	2.38M	-7.73M	-41.33M	-6.84M	46.51M
Cash from Financing	-111M	152M	-209M	-354M	-135M
Foreign Exchange Rate Adjustments	444K	-2.05M	3.4M	68K	-3.51M
Miscellaneous Cash Flow Adjustments	1.71M	-	-	-	-
Net Change in Cash	48.46M	407M	-276M	-88.89M	13.49M
Supplemental Items
Cash Income Tax Paid (Refund)	46.98M	34.46M	65.58M	44.86M	77.68M
Levered Free Cash Flow	230M	322M	314M	338M	321M
Unlevered Free Cash Flow	246M	340M	331M	357M	349M
Change In Net Working Capital	-3.71M	-83.54M	-43.71M	-41.74M	-21.56M
Net Debt Issued / Repaid	-82.76M	159M	-87.33M	-236M	-116M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	4.95	3.34	4.91	5.03	4.73
Return on Total Capital	7.13	4.59	6.73	7	6.64
Return On Equity %	16.8	13.49	18.92	18.17	14.47
Return on Common Equity	16.85	13.5	18.95	18.18	14.5
Margin Analysis
Gross Profit Margin %	23.15	23.53	25.01	24.91	24.27
SG&A Margin	0.55	0.56	0.5	0.58	0.71
EBITDA Margin %	16.41	16.11	19.84	19.67	17.03
EBITA Margin %	13.99	13.04	17.44	17.25	14.62
EBIT Margin %	11.68	10.43	13.6	13.47	12.17
Income From Continuing Operations Margin %	6.27	6.5	8.4	8.44	6.86
Net Income Margin %	6.27	6.49	8.1	8.42	6.86
Net Avail. For Common Margin %	6.27	6.49	8.39	8.42	6.86
Normalized Net Income Margin	6.35	5.35	7.73	7.38	6.19
Levered Free Cash Flow Margin	13.27	20.68	16.09	15.96	14.22
Unlevered Free Cash Flow Margin	14.2	21.83	16.98	16.86	15.45
Asset Turnover
Asset Turnover	0.68	0.51	0.58	0.6	0.62
Fixed Assets Turnover