Cash flow Bravida Holding AB

Equities

BRAV

SE0007491303

Construction & Engineering

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595539.5X8fps4USs3XQWD6YyYgzuHtaIE4t94eKRZobh9y7xI.litL_IVyKJSFADmiG2JlvtGpCc9g0rp4Wl8uKEwqgFDVJUrfp3wQguAHWA

Published financial data: BRAVIDA HOLDING AB

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Revenues	21.15B	21.88B	26.3B	29.42B	29.65B
Total Revenues	21.15B	21.88B	26.3B	29.42B	29.65B
Cost of Goods Sold, Total	18.09B	18.58B	22.34B	25.03B	25.36B
Gross Profit	3.05B	3.3B	3.97B	4.4B	4.29B
Selling General & Admin Expenses, Total	1.71B	1.79B	2.27B	2.67B	2.76B
Other Operating Expenses, Total	1.71B	1.79B	2.27B	2.67B	2.76B
Operating Income	1.35B	1.51B	1.7B	1.72B	1.53B
Interest Expense, Total	-47M	-51M	-67M	-174M	-183M
Interest And Investment Income	2M	4M	15M	40M	32M
Net Interest Expenses	-45M	-47M	-52M	-134M	-151M
Currency Exchange Gains (Loss)	-11M	3M	-1M	-1M	-3M
Other Non Operating Income (Expenses)	-19M	-12M	-11M	-12M	-14M
EBT, Excl. Unusual Items	1.27B	1.46B	1.63B	1.58B	1.37B
EBT, Incl. Unusual Items	1.27B	1.46B	1.63B	1.58B	1.37B
Income Tax Expense	276M	318M	349M	336M	301M
Earnings From Continuing Operations	997M	1.14B	1.28B	1.24B	1.06B
Net Income to Company	997M	1.14B	1.28B	1.24B	1.06B
Minority Interest	5M	10M	-16M	-15M	-9M
Net Income - (IS)	1B	1.15B	1.27B	1.23B	1.06B
Net Income to Common Incl Extra Items	1B	1.15B	1.27B	1.23B	1.06B
Net Income to Common Excl. Extra Items	1B	1.15B	1.27B	1.23B	1.06B
Per Share Items
Net EPS - Basic	4.94	5.66	6.22	6.02	5.17
Basic EPS - Continuing Operations	4.94	5.66	6.22	6.02	5.17
Basic Weighted Average Shares Outstanding	203M	203M	204M	204M	204M
Net EPS - Diluted	4.93	5.64	6.21	6	5.16
Diluted EPS - Continuing Operations	4.93	5.64	6.21	6	5.16
Diluted Weighted Average Shares Outstanding	203M	203M	204M	204M	205M
Normalized Basic EPS	3.95	4.54	4.93	4.76	4.13
Normalized Diluted EPS	3.94	4.52	4.92	4.75	4.13
Dividend Per Share	2.5	3	3.25	3.5	3.75
Payout Ratio	45.61	44.16	48.15	53.95	67.61
Supplemental Items
EBITDA	1.38B	1.55B	1.74B	1.78B	1.6B
EBITA	1.35B	1.51B	1.7B	1.73B	1.53B
EBIT	1.35B	1.51B	1.7B	1.72B	1.53B
EBITDAR	1.49B	1.66B	1.9B	2B	1.86B
Effective Tax Rate - (Ratio)	21.68	21.84	21.38	21.29	22.04
Total Current Taxes	184M	295M	198M	203M	314M
Total Deferred Taxes	92M	23M	150M	133M	-13M
Normalized Net Income	801M	920M	1B	971M	845M
Interest on Long-Term Debt	28M	25M	23M	42M	71M
Non-Cash Pension Expense	-	-	-	-	-
Supplemental Operating Expense Items
Net Rental Expense, Total	107M	113M	166M	217M	261M
Imputed Operating Lease Interest Expense	13.62M	16.86M	34.15M	103M	121M
Imputed Operating Lease Depreciation	93.38M	96.14M	132M	114M	140M
Stock-Based Comp., Other (Total)	24M	48M	43M	45M	18M
Total Stock-Based Compensation	24M	48M	43M	45M	18M

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	1.75B	1.59B	1.31B	1.05B	909M
Short Term Investments	-	-	-	-	-
Total Cash And Short Term Investments	1.75B	1.59B	1.31B	1.05B	909M
Accounts Receivable, Total	4.65B	6.46B	8.44B	9.43B	8.78B
Other Receivables	332M	424M	368M	440M	429M
Total Receivables	4.98B	6.89B	8.8B	9.87B	9.21B
Inventory	135M	147M	274M	290M	263M
Prepaid Expenses	106M	134M	225M	208M	175M
Other Current Assets, Total	-	-	1M	-	-
Total Current Assets	6.97B	8.76B	10.61B	11.42B	10.55B
Gross Property Plant And Equipment	1.32B	1.34B	1.56B	2.1B	2.14B
Accumulated Depreciation	-203M	-200M	-237M	-265M	-313M
Net Property Plant And Equipment	1.11B	1.14B	1.33B	1.83B	1.82B
Long-term Investments	7M	17M	25M	28M	31M
Goodwill	8.9B	9.53B	10.44B	11B	11.4B
Other Intangibles, Total	1M	3M	2M	1M	1M
Deferred Tax Assets Long-Term	34M	29M	25M	20M	10M
Other Long-Term Assets, Total	26M	29M	43M	35M	41M
Total Assets	17.05B	19.52B	22.47B	24.33B	23.87B
Liabilities
Accounts Payable, Total	2.12B	2.53B	3.26B	3.2B	2.56B
Accrued Expenses, Total	2.06B	2.14B	2.41B	2.68B	2.8B
Short-term Borrowings	1.35B	1.6B	1.06B	1.26B	1.62B
Current Portion of Long-Term Debt	-	-	-	-	-
Current Portion of Leases	343M	356M	384M	475M	505M
Current Income Taxes Payable	101M	240M	34M	17M	145M
Unearned Revenue Current, Total	2.05B	3.14B	3.94B	4.27B	4.1B
Other Current Liabilities	701M	861M	1.1B	1.35B	1.17B
Total Current Liabilities	8.73B	10.88B	12.18B	13.26B	12.9B
Long-Term Debt	500M	-	500M	500M	-
Long-Term Leases	679M	638M	666M	1B	980M
Pension & Other Post Retirement Benefits	647M	563M	230M	410M	244M
Deferred Tax Liability Non Current	322M	386M	628M	648M	667M
Other Non Current Liabilities	301M	217M	328M	250M	252M
Total Liabilities	11.18B	12.68B	14.54B	16.07B	15.04B
Common Stock, Total	4M	4M	4M	4M	4M
Additional Paid In Capital	3.52B	3.52B	3.52B	3.52B	3.52B
Retained Earnings	2.42B	3.28B	4.22B	4.68B	5.23B
Comprehensive Income and Other	-85M	13M	155M	22M	45M
Total Common Equity	5.86B	6.82B	7.9B	8.23B	8.8B
Minority Interest	21M	16M	40M	37M	29M
Total Equity	5.88B	6.83B	7.94B	8.27B	8.83B
Total Liabilities And Equity	17.05B	19.52B	22.47B	24.33B	23.87B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	203M	203M	204M	204M	204M
ECS Total Common Shares Outstanding	203M	203M	204M	204M	204M
Book Value / Share	28.85	33.53	38.77	40.32	43.04
Tangible Book Value	-3.05B	-2.72B	-2.55B	-2.77B	-2.61B
Tangible Book Value Per Share	-15.03	-13.37	-12.5	-13.58	-12.75
Total Debt	2.87B	2.6B	2.61B	3.24B	3.1B
Net Debt	1.12B	1B	1.3B	2.19B	2.19B
Debt Equivalent of Unfunded Proj. Benefit Obligation	644M	554M	213M	-	-
Debt Equivalent Oper. Leases	856M	904M	1.33B	1.74B	2.09B
Minority Interest, Total (Incl. Fin. Div)	21M	16M	40M	37M	29M
Equity Method Investments, Total	-	10M	13M	16M	18M
Account Code - Inventory Valuation	5	5	5	5	5
Buildings, Total	19M	81M	181M	208M	213M
Machinery, Total	294M	291M	355M	437M	478M
Full Time Employees	12K	12K	13K	14K	14.14K
Accumulated Allowance for Doubtful Accounts (Supple)	139M	131M	127M	171M	333M
Order Backlog	13.79B	16.52B	16.88B	-	-

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	1B	1.15B	1.27B	1.23B	1.06B
Depreciation & Amortization - CF	432M	432M	467M	596M	633M
Amortization of Goodwill and Intangible Assets - (CF)	-	-	1M	1M	-
Depreciation & Amortization, Total	432M	432M	468M	597M	633M
(Gain) Loss From Sale Of Asset	2M	-	-	-	-
Asset Writedown & Restructuring Costs	-	-	-	-	-
Stock-Based Compensation (CF)	17M	35M	37M	38M	17M
Other Operating Activities, Total	146M	181M	161M	-57M	156M
Change In Accounts Receivable	342M	-1.65B	-1.36B	-857M	935M
Change In Inventories	12M	-3M	-70M	25M	24M
Change in Other Net Operating Assets	218M	1.3B	1.09B	444M	-925M
Cash from Operations	2.17B	1.44B	1.59B	1.42B	1.9B
Capital Expenditure	-34M	-88M	-142M	-113M	-54M
Sale of Property, Plant, and Equipment	-	-	-	-	-
Cash Acquisitions	-282M	-421M	-675M	-505M	-540M
Divestitures	-	-	-	-	-
Sale (Purchase) of Intangible assets	-	-	-	-	-
Investment in Marketable and Equity Securities, Total	-	-	-	-	-
Other Investing Activities, Total	-	-	-	-	1M
Cash from Investing	-316M	-509M	-817M	-618M	-593M
Long-Term Debt Issued, Total	2.05B	749M	1.59B	1.63B	1.5B
Total Debt Issued	2.05B	749M	1.59B	1.63B	1.5B
Short Term Debt Repaid, Total	-	-	-	-	-
Long-Term Debt Repaid, Total	-2.58B	-1.39B	-2.06B	-1.96B	-2.2B
Total Debt Repaid	-2.58B	-1.39B	-2.06B	-1.96B	-2.2B
Common Dividends Paid	-457M	-507M	-610M	-662M	-714M
Common & Preferred Stock Dividends Paid	-457M	-507M	-610M	-662M	-714M
Other Financing Activities, Total	-	-	-	1M	-1M
Cash from Financing	-990M	-1.15B	-1.08B	-999M	-1.41B
Foreign Exchange Rate Adjustments	-90M	69M	18M	-62M	-30M
Miscellaneous Cash Flow Adjustments	1M	-	-1M	-	-
Net Change in Cash	776M	-154M	-286M	-262M	-138M
Supplemental Items
Cash Interest Paid	47M	51M	67M	174M	203M
Cash Income Tax Paid (Refund)	244M	210M	359M	230M	257M
Levered Free Cash Flow	1.77B	1.24B	1.07B	1.21B	1.42B
Unlevered Free Cash Flow	1.8B	1.27B	1.11B	1.32B	1.54B
Change In Net Working Capital	-534M	63M	316M	286M	18M
Net Debt Issued / Repaid	-533M	-644M	-468M	-338M	-696M

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	5.02	5.17	5.05	4.61	3.98
Return on Total Capital	9.7	10.4	10.61	9.78	8.18
Return On Equity %	17.38	17.91	17.38	15.33	12.46
Return on Common Equity	17.51	18.12	17.23	15.22	12.4
Margin Analysis
Gross Profit Margin %	14.44	15.08	15.09	14.94	14.47
SG&A Margin	8.07	8.17	8.64	9.08	9.3
EBITDA Margin %	6.53	7.07	6.61	6.05	5.41
EBITA Margin %	6.37	6.91	6.45	5.87	5.17
EBIT Margin %	6.37	6.91	6.45	5.86	5.17
Income From Continuing Operations Margin %	4.71	5.2	4.88	4.22	3.59
Net Income Margin %	4.74	5.25	4.82	4.17	3.56
Net Avail. For Common Margin %	4.74	5.25	4.82	4.17	3.56
Normalized Net Income Margin	3.79	4.21	3.82	3.3	2.85
Levered Free Cash Flow Margin	8.37	5.68	4.07	4.12	4.8
Unlevered Free Cash Flow Margin	8.5	5.82	4.23	4.49	5.19
Asset Turnover
Asset Turnover	1.26	1.2	1.25	1.26	1.23
Fixed Assets Turnover	18.86	19.39	21.29	18.63	16.22
Receivables Turnover (Average Receivables)	4.36	3.94	3.53	3.29	3.26
Inventory Turnover (Average Inventory)	140.8	131.75	106.1	88.74	91.73
Short Term Liquidity
Current Ratio	0.8	0.81	0.87	0.86	0.82
Quick Ratio	0.77	0.78	0.83	0.82	0.78
Operating Cash Flow to Current Liabilities	0.25	0.13	0.13	0.11	0.15
Days Sales Outstanding (Average Receivables)	83.96	92.71	103.38	110.83	112.39
Days Outstanding Inventory (Average Inventory)	2.6	2.77	3.44	4.11	3.99
Average Days Payable Outstanding	44.09	45.72	47.07	47.1	41.63
Cash Conversion Cycle (Average Days)	42.47	49.76	59.75	67.84	74.75
Long Term Solvency
Total Debt/Equity	48.88	38.01	32.93	39.18	35.12
Total Debt / Total Capital	32.83	27.54	24.77	28.15	25.99
LT Debt/Equity	20.06	9.34	14.69	18.16	11.1
Long-Term Debt / Total Capital	13.48	6.77	11.05	13.05	8.22
Total Liabilities / Total Assets	65.54	64.99	64.69	66.03	63.01
EBIT / Interest Expense	28.68	29.65	25.31	9.91	8.38
EBITDA / Interest Expense	37.87	38.12	32.3	13.34	11.84
(EBITDA - Capex) / Interest Expense	37.15	36.39	30.18	12.7	11.55
Total Debt / EBITDA	1.61	1.34	1.21	1.39	1.43
Net Debt / EBITDA	0.63	0.52	0.6	0.94	1.01
Total Debt / (EBITDA - Capex)	1.64	1.4	1.29	1.47	1.47
Net Debt / (EBITDA - Capex)	0.64	0.54	0.65	0.99	1.04
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	3.64	3.45	20.24	11.86	0.78
Gross Profit, 1 Yr. Growth %	5.27	8.02	20.28	10.81	-2.41
EBITDA, 1 Yr. Growth %	9.78	11.79	12.42	2.47	-9.94
EBITA, 1 Yr. Growth %	9.95	12	12.24	1.71	-11.12
EBIT, 1 Yr. Growth %	10.22	12.17	12.17	1.71	-11.07
Earnings From Cont. Operations, 1 Yr. Growth %	12.78	14.14	12.74	-3.2	-14.25
Net Income, 1 Yr. Growth %	13.61	14.57	10.37	-3.16	-13.94
Normalized Net Income, 1 Yr. Growth %	11.6	14.91	9.13	-3.26	-13.02
Diluted EPS Before Extra, 1 Yr. Growth %	13.33	14.4	10.11	-3.38	-14
Accounts Receivable, 1 Yr. Growth %	-8.03	39.09	30.47	11.83	-6.94
Inventory, 1 Yr. Growth %	10.66	8.89	86.39	5.84	-9.31
Net Property, Plant and Equip., 1 Yr. Growth %	-1.68	2.88	16	38.06	-0.38
Total Assets, 1 Yr. Growth %	3.29	14.44	15.15	8.28	-1.92
Tangible Book Value, 1 Yr. Growth %	-3.08	-10.92	-6.29	8.88	-5.95
Common Equity, 1 Yr. Growth %	4.8	16.41	15.83	4.23	6.93
Cash From Operations, 1 Yr. Growth %	35.77	-33.81	10.79	-10.99	33.8
Capital Expenditures, 1 Yr. Growth %	0	158.82	61.36	-20.42	-52.21
Levered Free Cash Flow, 1 Yr. Growth %	33.97	-29.87	-13.77	13.19	17.4
Unlevered Free Cash Flow, 1 Yr. Growth %	32.99	-29.24	-12.64	18.7	16.4
Dividend Per Share, 1 Yr. Growth %	11.11	20	8.33	7.69	7.14
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	4.66	3.54	11.53	15.97	6.18
Gross Profit, 2 Yr. CAGR %	4.38	6.64	13.99	15.45	3.99
EBITDA, 2 Yr. CAGR %	5.53	10.86	12.1	7.33	-3.93
EBITA, 2 Yr. CAGR %	5.5	11.05	12.12	6.84	-4.92
EBIT, 2 Yr. CAGR %	5.68	11.19	12.17	6.81	-4.9
Earnings From Cont. Operations, 2 Yr. CAGR %	2.12	13.46	13.44	4.47	-8.89
Net Income, 2 Yr. CAGR %	2.65	14.09	12.45	3.38	-8.71
Normalized Net Income, 2 Yr. CAGR %	4.06	13.25	11.98	2.75	-8.27
Diluted EPS Before Extra, 2 Yr. CAGR %	2.48	13.87	12.23	3.14	-8.85
Accounts Receivable, 2 Yr. CAGR %	0.38	13.1	34.71	20.79	2.01
Inventory, 2 Yr. CAGR %	11.8	9.77	42.46	40.46	-2.03
Net Property, Plant and Equip., 2 Yr. CAGR %	257.51	0.57	9.24	26.55	17.27
Total Assets, 2 Yr. CAGR %	9.11	8.72	14.79	11.66	3.06
Tangible Book Value, 2 Yr. CAGR %	0.95	-7.08	-8.64	1.01	1.19
Common Equity, 2 Yr. CAGR %	5.88	10.45	16.12	9.88	5.57
Cash From Operations, 2 Yr. CAGR %	43.66	-5.2	-14.37	-0.7	9.13
Capital Expenditures, 2 Yr. CAGR %	68.33	60.88	104.36	13.32	-38.33
Levered Free Cash Flow, 2 Yr. CAGR %	50.86	-3.01	-22.23	-1.2	15.28
Unlevered Free Cash Flow, 2 Yr. CAGR %	50.18	-2.94	-21.38	1.83	17.54
Dividend Per Share, 2 Yr. CAGR %	11.8	15.47	14.02	8.01	7.42
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	6.94	4.26	8.83	11.64	10.67
Gross Profit, 3 Yr. CAGR %	5.85	5.58	11	12.92	9.16
EBITDA, 3 Yr. CAGR %	7.65	7.63	11.38	8.8	1.24
EBITA, 3 Yr. CAGR %	7.7	7.68	11.45	8.53	0.48
EBIT, 3 Yr. CAGR %	7.9	7.8	11.51	8.57	0.48
Earnings From Cont. Operations, 3 Yr. CAGR %	6.73	5.98	13.22	7.6	-2.19
Net Income, 3 Yr. CAGR %	7	6.48	12.83	6.99	-2.75
Normalized Net Income, 3 Yr. CAGR %	8.04	7.56	11.86	6.65	-2.8
Diluted EPS Before Extra, 3 Yr. CAGR %	6.79	6.31	12.6	6.77	-2.92
Accounts Receivable, 3 Yr. CAGR %	4.84	11.91	18.62	26.61	10.73
Inventory, 3 Yr. CAGR %	12.43	10.82	30.96	29.03	21.4
Net Property, Plant and Equip., 3 Yr. CAGR %	150.2	136.03	5.47	18.11	16.85
Total Assets, 3 Yr. CAGR %	8.48	10.86	10.82	12.58	6.94
Tangible Book Value, 3 Yr. CAGR %	-1.61	-3.17	-6.82	-3.14	-1.37
Common Equity, 3 Yr. CAGR %	7.97	9.28	12.22	12.01	8.88
Cash From Operations, 3 Yr. CAGR %	27.89	10.96	-0.15	-13.26	9.68
Capital Expenditures, 3 Yr. CAGR %	17.42	94.28	61.04	49.23	-15.02
Levered Free Cash Flow, 3 Yr. CAGR %	30.29	16.91	-6.74	-11.87	4.64
Unlevered Free Cash Flow, 3 Yr. CAGR %	29.47	16.91	-6.29	-9.8	6.47
Dividend Per Share, 3 Yr. CAGR %	17.27	14.47	13.04	11.87	7.72
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	8.28	8.14	8.75	8.79	7.76
Gross Profit, 5 Yr. CAGR %	7.52	8.15	9.03	9.42	8.14
EBITDA, 5 Yr. CAGR %	11.43	9.77	9.44	7.51	4.98
EBITA, 5 Yr. CAGR %	11.45	9.79	9.48	7.34	4.58
EBIT, 5 Yr. CAGR %	11.48	9.88	9.59	7.4	4.64
Earnings From Cont. Operations, 5 Yr. CAGR %	28.28	11.04	9.37	5.37	3.8
Net Income, 5 Yr. CAGR %	28.41	11.27	9.15	5.23	3.67
Normalized Net Income, 5 Yr. CAGR %	24.87	10.95	9.6	5.61	3.32
Diluted EPS Before Extra, 5 Yr. CAGR %	28.2	11.05	8.93	5.03	3.47
Accounts Receivable, 5 Yr. CAGR %	9.31	13.59	15.9	15.38	11.67
Inventory, 5 Yr. CAGR %	9.44	7.58	23.6	21.84	16.61
Net Property, Plant and Equip., 5 Yr. CAGR %	77.56	77.46	79.61	83.94	10.04
Total Assets, 5 Yr. CAGR %	8.4	10.29	10.96	11.18	7.65
Tangible Book Value, 5 Yr. CAGR %	-3.69	-5.18	-4.48	-1.52	-3.7
Common Equity, 5 Yr. CAGR %	10.57	10.88	11.16	9.52	9.51
Cash From Operations, 5 Yr. CAGR %	20.89	27.41	8.93	6.14	3.47
Capital Expenditures, 5 Yr. CAGR %	7.21	35.88	46.56	56.6	9.69
Levered Free Cash Flow, 5 Yr. CAGR %	30.21	32.29	6.01	9.3	1.51
Unlevered Free Cash Flow, 5 Yr. CAGR %	18.66	29.78	6.08	10.63	2.6
Dividend Per Share, 5 Yr. CAGR %	20.11	19.14	15.96	11.84	10.76