BRIMSTONE INVESTMENT CORPORATION LIMITED

Cash flow Brimstone Investment Corporation Limited

Equities

BRT

ZAE000015277

Fishing & Farming

End-of-day quote Johannesburg S.E. Other stock markets 2024-12-02			5-day change	1st Jan Change
5.300 ^ZAR	-7.67%		+8.16%	+3.72%

Jul. 31	Brimstone Investment Corporation Limited Provides Earnings Guidance for the Six Months Ended 30 June 2024	CI
Jul. 30	Brimstone Investment Corporation Limited Reports Earnings Results for the Half Year Ended June 30, 2024	CI

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Published financial data: BRIMSTONE INVESTMENT CORPORATION LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	4.26B	4.6B	4.98B	6.14B	6.46B
Interest And Invest. Income (Rev)	175M	111M	74.92M	75.69M	68.2M
Total Revenues	4.44B	4.71B	5.05B	6.21B	6.53B
Cost of Goods Sold, Total	3.63B	4.05B	4.36B	5.7B	6.07B
Gross Profit	808M	668M	695M	510M	455M
Selling General & Admin Expenses, Total	152M	118M	-	-	-
Other Operating Expenses, Total	152M	118M	-	-	-
Operating Income	656M	550M	695M	510M	455M
Interest Expense, Total	-523M	-396M	-214M	-300M	-466M
Interest And Investment Income	53.16M	28.34M	19.8M	18.74M	125M
Net Interest Expenses	-470M	-368M	-194M	-281M	-341M
Income (Loss) On Equity Invest.	144M	153M	257M	228M	428M
Other Non Operating Income (Expenses)	112M	220M	-352M	1M	-5.84M
EBT, Excl. Unusual Items	442M	555M	406M	458M	537M
Gain (Loss) On Sale Of Investments	-298M	-439M	580M	-36.39M	-51.4M
Asset Writedown	5.98M	2.58M	-5.64M	4.33M	14.59M
Other Unusual Items	31.05M	-9.11M	-10.63M	20.44M	-
EBT, Incl. Unusual Items	182M	109M	969M	446M	500M
Income Tax Expense	106M	153M	206M	122M	77.88M
Earnings From Continuing Operations	75.33M	-43.83M	763M	325M	422M
Earnings Of Discontinued Operations	-	-	158M	-	-
Net Income to Company	75.33M	-43.83M	921M	325M	422M
Minority Interest	-161M	-141M	-189M	-135M	-131M
Net Income - (IS)	-85.77M	-185M	732M	190M	291M
Net Income to Common Incl Extra Items	-85.77M	-185M	732M	190M	291M
Net Income to Common Excl. Extra Items	-85.77M	-185M	574M	190M	291M
Per Share Items
Net EPS - Basic	-0.36	-0.73	2.92	0.77	1.18
Basic EPS - Continuing Operations	-0.36	-0.73	2.29	0.77	1.18
Basic Weighted Average Shares Outstanding	240M	253M	250M	248M	247M
Net EPS - Diluted	-0.36	-0.73	2.92	0.76	1.17
Diluted EPS - Continuing Operations	-0.36	-0.73	2.29	0.76	1.17
Diluted Weighted Average Shares Outstanding	240M	253M	251M	251M	250M
Normalized Basic EPS	0.48	0.82	0.26	0.61	0.83
Normalized Diluted EPS	0.48	0.82	0.26	0.6	0.82
Dividend Per Share	-	-	0.3	0.33	0.4
Payout Ratio	-128.75	-	-	40.22	29.01
Supplemental Items
EBITDA	854M	761M	925M	758M	727M
EBITA	665M	559M	706M	521M	464M
EBIT	656M	550M	695M	510M	455M
EBITDAR	871M	777M	938M	770M	749M
Total Revenues (As Reported)	4.44B	4.71B	5.05B	6.21B	6.53B
Effective Tax Rate - (Ratio)	58.51	140.19	21.25	27.31	15.58
Current Domestic Taxes	137M	125M	136M	60.76M	48.42M
Total Current Taxes	137M	125M	136M	60.76M	48.42M
Deferred Domestic Taxes	-30.3M	27.98M	-70.69M	61.16M	29.46M
Total Deferred Taxes	-30.3M	27.98M	-70.69M	61.16M	29.46M
Normalized Net Income	115M	206M	64.7M	152M	205M
Interest on Long-Term Debt	202M	156M	146M	176M	244M
Supplemental Operating Expense Items
Research And Development Expense From Footnotes	1.95M	395K	100K	100K	9K
Net Rental Expense, Total	17.08M	16.2M	12.32M	11.58M	22.32M
Imputed Operating Lease Interest Expense	14.28M	10.04M	4.73M	6.08M	16.66M
Imputed Operating Lease Depreciation	2.8M	6.16M	7.59M	5.51M	5.66M
Stock-Based Comp., Other (Total)	9.44M	17.82M	36.51M	45.83M	45.24M
Total Stock-Based Compensation	9.44M	17.82M	36.51M	45.83M	45.24M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	319M	428M	863M	375M	422M
Short Term Investments	186M	-	-	-	-
Trading Asset Securities, Total	711M	555M	-	-	-
Total Cash And Short Term Investments	1.22B	983M	863M	375M	422M
Accounts Receivable, Total	742M	668M	616M	784M	761M
Other Receivables	182M	127M	140M	127M	154M
Notes Receivable	1.61M	1.04M	7.87M	8.84M	12.94M
Total Receivables	925M	796M	763M	920M	928M
Inventory	743M	825M	1.06B	1.16B	1.21B
Prepaid Expenses	-	40.57M	54.78M	57.57M	65.69M
Other Current Assets, Total	206M	444M	58.87M	48.93M	264M
Total Current Assets	3.09B	3.09B	2.8B	2.56B	2.89B
Gross Property Plant And Equipment	2.91B	3.19B	3.49B	3.9B	4.26B
Accumulated Depreciation	-782M	-976M	-1.1B	-1.29B	-1.6B
Net Property Plant And Equipment	2.13B	2.22B	2.39B	2.61B	2.66B
Long-term Investments	4.37B	3.23B	3.42B	3.78B	3.81B
Goodwill	850M	862M	865M	1.02B	1.04B
Other Intangibles, Total	640M	743M	777M	1.43B	1.48B
Loans Receivable Long-Term	95.6M	102M	106M	107M	125M
Deferred Tax Assets Long-Term	30.99M	5.2M	41.15M	35.58M	64.52M
Other Long-Term Assets, Total	61.45M	97.41M	106M	123M	187M
Total Assets	11.27B	10.34B	10.5B	11.66B	12.26B
Liabilities
Accounts Payable, Total	479M	586M	594M	620M	599M
Accrued Expenses, Total	44.09M	47.3M	208M	142M	137M
Short-term Borrowings	65.21M	32.74M	53.03M	24.72M	56.12M
Current Portion of Long-Term Debt	1.44B	1.02B	113M	373M	395M
Current Portion of Leases	13.67M	17.59M	24.64M	31.05M	34.1M
Current Income Taxes Payable	3.37M	4.85M	157K	512K	3.11M
Unearned Revenue Current, Total	3.32M	4.06M	28.5M	2.78M	4.37M
Other Current Liabilities	643M	492M	305M	292M	280M
Total Current Liabilities	2.69B	2.2B	1.33B	1.49B	1.51B
Long-Term Debt	3.91B	3.41B	3.95B	4.22B	4.44B
Long-Term Leases	161M	171M	142M	211M	217M
Unearned Revenue Non Current	32.24M	30.81M	32.15M	34.34M	30.99M
Pension & Other Post Retirement Benefits	22.4M	22.17M	20.59M	18.84M	18.15M
Deferred Tax Liability Non Current	632M	620M	631M	875M	925M
Other Non Current Liabilities	145M	133M	10.11M	10.58M	14.89M
Total Liabilities	7.59B	6.59B	6.11B	6.85B	7.15B
Common Stock, Total	39K	39K	39K	39K	39K
Additional Paid In Capital	193M	196M	173M	179M	172M
Retained Earnings	1.5B	1.32B	2.05B	2.16B	2.37B
Comprehensive Income and Other	819M	976M	701M	980M	1.03B
Total Common Equity	2.52B	2.49B	2.92B	3.32B	3.58B
Minority Interest	1.16B	1.27B	1.47B	1.48B	1.53B
Total Equity	3.68B	3.76B	4.39B	4.8B	5.1B
Total Liabilities And Equity	11.27B	10.34B	10.5B	11.66B	12.26B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	236M	253M	248M	248M	246M
ECS Total Common Shares Outstanding	236M	253M	248M	248M	246M
Book Value / Share	10.66	9.85	11.8	13.4	14.57
Tangible Book Value	1.03B	886M	1.28B	878M	1.06B
Tangible Book Value Per Share	4.35	3.5	5.18	3.54	4.3
Total Debt	5.59B	4.65B	4.28B	4.86B	5.14B
Net Debt	4.37B	3.66B	3.41B	4.48B	4.72B
Debt Equivalent Oper. Leases	137M	130M	98.54M	92.67M	179M
Minority Interest, Total (Incl. Fin. Div)	1.16B	1.27B	1.47B	1.48B	1.53B
Equity Method Investments, Total	2.24B	2.44B	2.33B	2.66B	2.93B
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Raw Materials, Total	142M	181M	227M	282M	251M
Inventories - Work In Process, Total	34.94M	5.58M	35.32M	61.1M	34.37M
Inventories - Finished Goods, Total	566M	638M	799M	812M	923M
Land - (BS)	234M	257M	444M	458M	380M
Machinery, Total	2.44B	2.65B	2.75B	3.04B	3.44B
Full Time Employees	4.93K	4.68K	5.42K	5.49K	4.53K
Accumulated Allowance for Doubtful Accounts (Supple)	116M	164M	11.58M	12.66M	27.84M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	-85.77M	-185M	732M	190M	291M
Depreciation & Amortization - CF	220M	229M	249M	270M	300M
Amortization of Goodwill and Intangible Assets - (CF)	8.61M	9.12M	11.2M	11.5M	9.37M
Depreciation & Amortization, Total	228M	238M	260M	281M	310M
Amortization of Deferred Charges, Total - (CF)	1.95M	395K	100K	100K	9K
(Gain) Loss From Sale Of Asset	-77.7M	8.22M	2.77M	-4.49M	-94.62M
(Gain) Loss on Sale of Investments - (CF)	228M	393M	-596M	-1.86M	51.4M
Asset Writedown & Restructuring Costs	-5.98M	43.31M	11.87M	-7.82M	-14.59M
Provision for Credit Losses	2.86M	-	-	-	-
(Income) Loss On Equity Investments - (CF)	-144M	-153M	-257M	-228M	-428M
Stock-Based Compensation (CF)	9.44M	17.82M	36.51M	45.83M	45.24M
Net Cash From Discontinued Operations	-	-	-141M	-	-
Other Operating Activities, Total	437M	180M	727M	308M	415M
Change In Accounts Receivable	75.12M	115M	37.26M	-108M	-77.69M
Change In Inventories	39.99M	30.99M	-126M	49.38M	-8.76M
Change In Accounts Payable	-112M	136M	48.36M	-14.24M	-25.98M
Change in Other Net Operating Assets	-177M	-65.7M	-63.05M	4.18M	-816K
Cash from Operations	420M	759M	673M	515M	462M
Capital Expenditure	-361M	-380M	-339M	-337M	-544M
Sale of Property, Plant, and Equipment	175M	7.64M	2.6M	9.07M	64.18M
Cash Acquisitions	-558M	-22.51M	-65.12M	-770M	-
Divestitures	-	-	-5.67M	-	6.16M
Sale (Purchase) of Real Estate properties	-	-	-	-	-
Sale (Purchase) of Intangible assets	-30K	-35.29M	-2.04M	-2.86M	-286K
Investment in Marketable and Equity Securities, Total	-637M	1B	875M	-52.36M	-
Net (Increase) Decrease in Loans Originated / Sold - Investing	68K	-58.32M	7.79M	9.54M	-250K
Other Investing Activities, Total	-	25.75M	46.45M	25.1M	9.41M
Cash from Investing	-1.38B	536M	521M	-1.12B	-464M
Short Term Debt Issued, Total	-	-	20.29M	-	31.4M
Long-Term Debt Issued, Total	2.62B	592M	586M	1.61B	393M
Total Debt Issued	2.62B	592M	606M	1.61B	424M
Short Term Debt Repaid, Total	-17.44M	-32.46M	-	-28.31M	-
Long-Term Debt Repaid, Total	-1.92B	-1.68B	-1.24B	-1.1B	-175M
Total Debt Repaid	-1.94B	-1.71B	-1.24B	-1.13B	-175M
Issuance of Common Stock	-	-	-	-	-
Repurchase of Common Stock	-44.06M	-	-34.89M	-93.92M	-21.61M
Common Dividends Paid	-110M	-	-	-76.4M	-84.5M
Common & Preferred Stock Dividends Paid	-110M	-	-	-76.4M	-84.5M
Other Financing Activities, Total	-267M	-70.65M	-89.61M	-201M	-97.68M
Cash from Financing	255M	-1.19B	-759M	110M	45.2M
Foreign Exchange Rate Adjustments	157K	575K	792K	5.88M	4.2M
Net Change in Cash	-706M	109M	435M	-488M	46.7M
Supplemental Items
Cash Interest Paid	271M	304M	122M	329M	412M
Cash Income Tax Paid (Refund)	122M	123M	145M	63.31M	37.67M
Levered Free Cash Flow	-382M	-333M	426M	-204M	-512M
Unlevered Free Cash Flow	-54.79M	-85.33M	559M	-16.96M	-221M
Change In Net Working Capital	343M	270M	-169M	322M	316M
Net Debt Issued / Repaid	676M	-1.12B	-634M	482M	249M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	3.7	3.18	4.17	2.87	2.38
Return on Total Capital	4.67	3.89	5.09	3.48	2.86
Return On Equity %	2	-1.18	18.73	7.06	8.52
Return on Common Equity	-3.28	-7.37	21.2	6.08	8.44
Margin Analysis
Gross Profit Margin %	18.21	14.16	13.75	8.2	6.97
SG&A Margin	3.43	2.5	-	-	-
EBITDA Margin %	19.24	16.13	18.3	12.2	11.13
EBITA Margin %	14.97	11.86	13.97	8.39	7.11
EBIT Margin %	14.78	11.67	13.75	8.2	6.97
Income From Continuing Operations Margin %	1.7	-0.93	15.1	5.22	6.46
Net Income Margin %	-1.93	-3.91	14.48	3.06	4.46
Net Avail. For Common Margin %	-1.93	-3.91	11.36	3.06	4.46
Normalized Net Income Margin	2.6	4.37	1.28	2.44	3.14
Levered Free Cash Flow Margin	-8.6	-7.06	8.42	-3.29	-7.84
Unlevered Free Cash Flow Margin	-1.23	-1.81	11.07	-0.27	-3.38
Asset Turnover
Asset Turnover	0.4	0.44	0.49	0.56	0.55
Fixed Assets Turnover	2.32	2.17	2.2	2.49	2.48
Receivables Turnover (Average Receivables)	5.64	6.53	7.76	8.77	8.37
Inventory Turnover (Average Inventory)	5.9	5.16	4.62	5.14	5.14
Short Term Liquidity
Current Ratio	1.15	1.4	2.11	1.72	1.91
Quick Ratio	0.8	0.81	1.22	0.87	0.89
Operating Cash Flow to Current Liabilities	0.16	0.34	0.51	0.35	0.31
Days Sales Outstanding (Average Receivables)	64.77	56.02	47.03	41.62	43.63
Days Outstanding Inventory (Average Inventory)	61.86	70.88	78.99	70.96	71
Average Days Payable Outstanding	47.67	47.18	46.86	38.23	36.28
Cash Conversion Cycle (Average Days)	78.97	79.71	79.16	74.34	78.36
Long Term Solvency
Total Debt/Equity	151.96	123.65	97.43	101.12	100.67
Total Debt / Total Capital	60.31	55.29	49.35	50.28	50.17
LT Debt/Equity	110.74	95.26	93.08	92.2	91.15