Income Statement Associated British Foods plc

Equities

ABF

GB0006731235

Food Processing

Market Closed - London S.E. Other stock markets 11:35:19 2025-01-13 am EST			5-day change	1st Jan Change
1,963.00 ^GBX	+1.63%		-3.63%	-3.92%

Dec. 27	George Weston Signs Automatic Share Purchase Plan	MT
Dec. 27	George Weston Brief: Entering into Automatic Share Purchase Plan	MT

2bcaf5d4b274.i-3oQRKLsINrsoCy1J9DgiYUwYQWFc7GNrxF-ryBbME.7I-tKSv-1dxd1diBg9Z1t0dthPNxWoGCAs52kfb1OLvUlNgsY83n9F3zwQ

Published financial data: ASSOCIATED BRITISH FOODS PLC

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: September	2020	2021	2022	2023	2024
Revenues	13.94B	13.88B	17B	19.75B	20.07B
Total Revenues	13.94B	13.88B	17B	19.75B	20.07B
Cost of Goods Sold, Total	10.8B	10.75B	13.22B	15.59B	18.24B
Gross Profit	3.14B	3.13B	3.78B	4.16B	1.84B
Selling General & Admin Expenses, Total	2.24B	2.26B	2.5B	2.76B	-73M
Other Operating Expenses, Total	2.24B	2.26B	2.5B	2.76B	-73M
Operating Income	893M	875M	1.28B	1.4B	1.91B
Interest Expense, Total	-124M	-111M	-111M	-128M	-135M
Interest And Investment Income	11M	9M	19M	48M	71M
Net Interest Expenses	-113M	-102M	-92M	-80M	-64M
Income (Loss) On Equity Invest.	57M	79M	109M	124M	117M
Currency Exchange Gains (Loss)	1M	-	4M	-20M	-50M
EBT, Excl. Unusual Items	838M	852M	1.3B	1.42B	1.91B
Restructuring Charges	-111M	-141M	-	-5M	-
Merger & Related Restructuring Charges	-	-	-	-	-2M
Impairment of Goodwill	-23M	-	-	-	-
Gain (Loss) On Sale Of Assets	4M	24M	-16M	25M	42M
Asset Writedown	-22M	-1M	-206M	-102M	-35M
Other Unusual Items	-	-9M	-	-2M	-
EBT, Incl. Unusual Items	686M	725M	1.08B	1.34B	1.92B
Income Tax Expense	221M	227M	356M	272M	437M
Earnings From Continuing Operations	465M	498M	720M	1.07B	1.48B
Net Income to Company	465M	498M	720M	1.07B	1.48B
Minority Interest	-10M	-20M	-20M	-24M	-25M
Net Income - (IS)	455M	478M	700M	1.04B	1.46B
Net Income to Common Incl Extra Items	455M	478M	700M	1.04B	1.46B
Net Income to Common Excl. Extra Items	455M	478M	700M	1.04B	1.46B
Per Share Items
Net EPS - Basic	0.58	0.61	0.89	1.34	1.94
Basic EPS - Continuing Operations	0.58	0.61	0.89	1.34	1.94
Basic Weighted Average Shares Outstanding	790M	790M	789M	778M	751M
Net EPS - Diluted	0.58	0.6	0.89	1.34	1.94
Diluted EPS - Continuing Operations	0.58	0.6	0.89	1.34	1.94
Diluted Weighted Average Shares Outstanding	790M	790M	789M	778M	751M
Normalized Basic EPS	0.65	0.65	1	1.11	1.56
Normalized Diluted EPS	0.65	0.65	1	1.11	1.56
Dividend Per Share	-	0.27	0.44	0.47	0.63
Payout Ratio	59.56	10.25	54.29	33.05	27.84
American Depositary Receipts Ratio (ADR)	1	1	1	1	1
Supplemental Items
EBITDA	1.52B	1.48B	1.87B	2.01B	2.56B
EBITA	982M	949M	1.34B	1.48B	2.01B
EBIT	893M	875M	1.28B	1.4B	1.91B
EBITDAR	1.53B	1.49B	1.87B	2.02B	2.57B
Effective Tax Rate - (Ratio)	32.22	31.31	33.09	20.3	22.8
Current Domestic Taxes	60M	55M	32M	12M	55M
Current Foreign Taxes	199M	199M	245M	267M	347M
Total Current Taxes	259M	254M	277M	279M	402M
Deferred Domestic Taxes	8M	10M	15M	28M	48M
Deferred Foreign Taxes	-46M	-37M	64M	-35M	-13M
Total Deferred Taxes	-38M	-27M	79M	-7M	35M
Normalized Net Income	514M	512M	791M	866M	1.17B
Interest Capitalized	-	-	-	-	5M
Interest on Long-Term Debt	84M	84M	81M	91M	102M
Non-Cash Pension Expense	-2M	5M	-9M	-58M	-73M
Supplemental Operating Expense Items
Selling and Marketing Expenses	1.29B	1.3B	1.46B	1.6B	-
General and Administrative Expenses	953M	952M	1.04B	1.22B	-
Research And Development Expense From Footnotes	31M	34M	44M	51M	58M
Net Rental Expense, Total	6M	5M	4M	4M	2M
Imputed Operating Lease Interest Expense	2.53M	1.14M	938K	1.08M	605K
Imputed Operating Lease Depreciation	3.47M	3.86M	3.06M	2.92M	1.39M
Stock-Based Comp., COGS (Total)	8M	-	-	-	-
Stock-Based Comp., Other (Total)	-	17M	19M	18M	31M
Total Stock-Based Compensation	8M	17M	19M	18M	31M

Fiscal Period: September	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	2B	2.28B	2.12B	1.46B	1.32B
Short Term Investments	32M	32M	4M	-	334M
Trading Asset Securities, Total	-	-	-	4M	1M
Total Cash And Short Term Investments	2.03B	2.31B	2.12B	1.46B	1.66B
Accounts Receivable, Total	1.03B	1.02B	1.32B	1.32B	1.27B
Other Receivables	199M	248M	316M	347M	336M
Total Receivables	1.23B	1.27B	1.63B	1.67B	1.61B
Inventory	2.22B	2.24B	3.36B	3.31B	3.04B
Prepaid Expenses	132M	152M	194M	210M	192M
Other Current Assets, Total	145M	137M	520M	92M	27M
Total Current Assets	5.75B	6.1B	7.83B	6.74B	6.52B
Gross Property Plant And Equipment	14.64B	14.59B	15.95B	16.73B	17.42B
Accumulated Depreciation	-6B	-6.66B	-7.9B	-8.62B	-9.07B
Net Property Plant And Equipment	8.64B	7.94B	8.06B	8.12B	8.35B
Long-term Investments	295M	361M	415M	426M	411M
Goodwill	1.17B	1.12B	1.29B	1.27B	1.31B
Other Intangibles, Total	463M	457M	576M	604M	585M
Accounts Receivable Long-Term	35M	28M	25M	28M	-
Loans Receivable Long-Term	4M	4M	4M	3M	-
Deferred Tax Assets Long-Term	212M	218M	158M	193M	223M
Other Long-Term Assets, Total	100M	663M	1.42B	1.47B	1.61B
Total Assets	16.67B	16.9B	19.78B	18.84B	19.01B
Liabilities
Accounts Payable, Total	909M	938M	1.36B	1.18B	1.16B
Accrued Expenses, Total	943M	997M	1.28B	1.27B	1.28B
Short-term Borrowings	89M	86M	126M	69M	88M
Current Portion of Long-Term Debt	65M	244M	31M	99M	71M
Current Portion of Leases	297M	289M	316M	335M	267M
Current Income Taxes Payable	171M	172M	160M	109M	133M
Unearned Revenue Current, Total	464M	451M	477M	505M	499M
Other Current Liabilities	215M	105M	306M	124M	175M
Total Current Liabilities	3.15B	3.28B	4.05B	3.69B	3.67B
Long-Term Debt	318M	76M	480M	394M	454M
Long-Term Leases	3.34B	2.99B	2.94B	2.82B	2.8B
Pension & Other Post Retirement Benefits	166M	147M	79M	69M	74M
Deferred Tax Liability Non Current	210M	363M	647M	626M	682M
Other Non Current Liabilities	41M	31M	26M	48M	60M
Total Liabilities	7.23B	6.89B	8.22B	7.65B	7.74B
Common Stock, Total	45M	45M	45M	44M	42M
Retained Earnings	8.82B	9.69B	10.65B	10.91B	11.4B
Comprehensive Income and Other	491M	184M	754M	139M	-251M
Total Common Equity	9.36B	9.92B	11.45B	11.09B	11.19B
Minority Interest	84M	83M	106M	100M	92M
Total Equity	9.44B	10B	11.55B	11.19B	11.28B
Total Liabilities And Equity	16.67B	16.9B	19.78B	18.84B	19.01B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	790M	790M	789M	763M	740M
ECS Total Common Shares Outstanding	790M	790M	789M	763M	740M
Book Value / Share	11.84	12.55	14.52	14.53	15.12
Tangible Book Value	7.73B	8.34B	9.58B	9.22B	9.29B
Tangible Book Value Per Share	9.78	10.55	12.15	12.08	12.55
Total Debt	4.11B	3.69B	3.89B	3.72B	3.68B
Net Debt	2.08B	1.38B	1.76B	2.26B	2.02B
Debt Equivalent of Unfunded Proj. Benefit Obligation	53M	-519M	-1.36B	-1.41B	-1.47B
Debt Equivalent Oper. Leases	48M	40M	32M	32M	16M
Minority Interest, Total (Incl. Fin. Div)	84M	83M	106M	100M	92M
Equity Method Investments, Total	289M	338M	386M	394M	381M
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Raw Materials, Total	429M	411M	607M	599M	474M
Inventories - Work In Process, Total	119M	134M	167M	166M	187M
Inventories - Finished Goods, Total	1.67B	1.68B	2.58B	2.53B	2.36B
Inventories - Others	6M	6M	8M	11M	10M
Land - (BS)	2.74B	2.71B	2.82B	2.78B	2.68B
Machinery, Total	8.05B	8.03B	8.84B	9.41B	9.99B
Full Time Employees	133K	128K	132K	133K	138K
Accumulated Allowance for Doubtful Accounts (Supple)	-	-	-	-	-

Fiscal Period: September	2020	2021	2022	2023	2024
Net Income	455M	478M	700M	1.04B	1.46B
Depreciation & Amortization - CF	827M	823M	802M	804M	849M
Amortization of Goodwill and Intangible Assets - (CF)	89M	74M	68M	82M	100M
Depreciation & Amortization, Total	916M	897M	870M	886M	949M
(Gain) Loss From Sale Of Asset	-4M	-24M	16M	-25M	-42M
Asset Writedown & Restructuring Costs	171M	142M	206M	109M	35M
(Income) Loss On Equity Investments - (CF)	-57M	-79M	-109M	-124M	-117M
Stock-Based Compensation (CF)	8M	17M	19M	18M	31M
Other Operating Activities, Total	117M	65M	173M	-11M	228M
Change In Accounts Receivable	81M	-98M	-288M	-107M	23M
Change In Inventories	199M	-120M	-953M	-94M	169M
Change In Accounts Payable	-174M	175M	512M	-15M	113M
Change in Other Net Operating Assets	41M	-40M	7M	-27M	30M
Cash from Operations	1.75B	1.41B	1.15B	1.65B	2.87B
Capital Expenditure	-561M	-551M	-680M	-997M	-1.12B
Sale of Property, Plant, and Equipment	30M	21M	30M	48M	43M
Cash Acquisitions	-16M	-57M	-154M	-94M	-93M
Divestitures	2M	34M	-	4M	24M
Sale (Purchase) of Intangible assets	-61M	-76M	-89M	-76M	-60M
Investment in Marketable and Equity Securities, Total	-1M	-14M	-7M	-4M	-338M
Other Investing Activities, Total	89M	82M	156M	213M	216M
Cash from Investing	-518M	-561M	-744M	-906M	-1.33B
Short Term Debt Issued, Total	-	-	-	-	-
Long-Term Debt Issued, Total	-	-	178M	-	66M
Total Debt Issued	-	-	178M	-	66M
Short Term Debt Repaid, Total	-43M	-10M	-12M	-13M	-50M
Long-Term Debt Repaid, Total	-249M	-308M	-321M	-308M	-348M
Total Debt Repaid	-292M	-318M	-333M	-321M	-398M
Repurchase of Common Stock	-	-	-50M	-494M	-582M
Common Dividends Paid	-271M	-49M	-380M	-345M	-405M
Common & Preferred Stock Dividends Paid	-271M	-49M	-380M	-345M	-405M
Special Dividend Paid	-	-	-	-	-97M
Other Financing Activities, Total	-115M	-145M	-92M	-122M	-153M
Cash from Financing	-678M	-512M	-677M	-1.28B	-1.57B
Foreign Exchange Rate Adjustments	-6M	-60M	74M	-73M	-126M
Net Change in Cash	551M	280M	-194M	-607M	-153M
Supplemental Items
Cash Interest Paid	104M	116M	114M	118M	140M
Cash Income Tax Paid (Refund)	254M	298M	304M	341M	340M
Levered Free Cash Flow	991M	652M	-145M	666M	1.38B
Unlevered Free Cash Flow	1.07B	722M	-75.88M	746M	1.46B
Change In Net Working Capital	-208M	112M	994M	-40M	-472M
Net Debt Issued / Repaid	-292M	-318M	-155M	-321M	-332M

Fiscal Period: September	2020	2021	2022	2023	2024
Profitability
Return on Assets	3.67	3.26	4.35	4.53	6.3
Return on Total Capital	4.71	4.02	5.48	5.76	7.99
Return On Equity %	4.9	5.12	6.68	9.39	13.17
Return on Common Equity	4.84	4.96	6.55	9.26	13.06
Margin Analysis
Gross Profit Margin %	22.51	22.55	22.23	21.08	9.15
SG&A Margin	16.1	16.25	14.71	13.99	-0.36
EBITDA Margin %	10.91	10.69	10.98	10.19	12.77
EBITA Margin %	7.05	6.84	7.91	7.5	10.01
EBIT Margin %	6.41	6.3	7.51	7.09	9.51
Income From Continuing Operations Margin %	3.34	3.59	4.24	5.41	7.37
Net Income Margin %	3.26	3.44	4.12	5.29	7.25
Net Avail. For Common Margin %	3.26	3.44	4.12	5.29	7.25
Normalized Net Income Margin	3.69	3.69	4.66	4.38	5.83
Levered Free Cash Flow Margin	7.11	4.7	-0.85	3.37	6.86
Unlevered Free Cash Flow Margin	7.66	5.2	-0.45	3.78	7.28
Asset Turnover
Asset Turnover	0.92	0.83	0.93	1.02	1.06
Fixed Assets Turnover	1.93	1.68	2.13	2.44	2.45
Receivables Turnover (Average Receivables)	13.2	13.53	14.53	14.97	15.48
Inventory Turnover (Average Inventory)	4.6	4.82	4.72	4.67	5.75
Short Term Liquidity
Current Ratio	1.82	1.86	1.93	1.83	1.78
Quick Ratio	1.03	1.09	0.93	0.85	0.89
Operating Cash Flow to Current Liabilities	0.56	0.43	0.28	0.45	0.78
Days Sales Outstanding (Average Receivables)	27.58	27.42	25.06	24.31	23.52
Days Outstanding Inventory (Average Inventory)	79.07	76.9	77.1	77.88	63.29
Average Days Payable Outstanding	35.56	31.82	29.18	29.76	23.66
Cash Conversion Cycle (Average Days)	71.08	72.5	72.98	72.43	63.15
Long Term Solvency
Total Debt/Equity	43.55	36.86