Cash flow Clean Seas Seafood Limited

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Fishing & Farming

Market Closed - Australian S.E. Other stock markets 01:53:28 2024-09-20 am EDT			5-day change	1st Jan Change
0.1550 ^AUD	-3.12%		-8.82%	-41.51%

Aug. 28	Clean Seas Seafood Limited, 2024 Earnings Call, Aug 28, 2024
Aug. 27	Clean Seas Seafood Limited Reports Production Results for the Year Ended 30 June 2024	CI

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Published financial data: CLEAN SEAS SEAFOOD LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: June	2020	2021	2022	2023	2024
Revenues	40.31M	48.46M	66.16M	69.41M	68.8M
Other Revenues, Total	-	-	-	-	-
Total Revenues	40.31M	48.46M	66.16M	69.41M	68.8M
Cost of Goods Sold, Total	49.8M	59.59M	35.99M	40.44M	79.17M
Gross Profit	-9.49M	-11.13M	30.17M	28.97M	-10.37M
Selling General & Admin Expenses, Total	12.37M	13.78M	13.37M	15.33M	15.21M
Depreciation & Amortization - (IS)	3.44M	3.81M	3.83M	3.84M	3.71M
Other Operating Expenses	4.15M	3.42M	3.88M	3.4M	4.35M
Other Operating Expenses, Total	19.96M	21.01M	21.08M	22.58M	23.27M
Operating Income	-29.45M	-32.14M	9.09M	6.39M	-33.64M
Interest Expense, Total	-1.39M	-1.42M	-786K	-384K	-605K
Interest And Investment Income	11K	5K	1K	53K	104K
Net Interest Expenses	-1.38M	-1.41M	-785K	-331K	-501K
Other Non Operating Income (Expenses)	1.38M	1.45M	369K	611K	682K
EBT, Excl. Unusual Items	-29.45M	-32.1M	8.68M	6.67M	-33.45M
Gain (Loss) On Sale Of Assets	-	-	-	-	-
Asset Writedown	-	-	-	-675K	-
Legal Settlements	15M	-	-	-	-
EBT, Incl. Unusual Items	-14.45M	-32.1M	8.68M	6M	-33.45M
Income Tax Expense	-	-	-	-	-
Earnings From Continuing Operations	-14.45M	-32.1M	8.68M	6M	-33.45M
Net Income to Company	-14.45M	-32.1M	8.68M	6M	-33.45M
Net Income - (IS)	-14.45M	-32.1M	8.68M	6M	-33.45M
Net Income to Common Incl Extra Items	-14.45M	-32.1M	8.68M	6M	-33.45M
Net Income to Common Excl. Extra Items	-14.45M	-32.1M	8.68M	6M	-33.45M
Per Share Items
Net EPS - Basic	-0.16	-0.27	0.05	0.04	-0.18
Basic EPS - Continuing Operations	-0.16	-0.27	0.05	0.04	-0.18
Basic Weighted Average Shares Outstanding	92.84M	117M	165M	165M	185M
Net EPS - Diluted	-0.16	-0.27	0.05	0.04	-0.18
Diluted EPS - Continuing Operations	-0.16	-0.27	0.05	0.04	-0.18
Diluted Weighted Average Shares Outstanding	92.84M	117M	167M	168M	185M
Normalized Basic EPS	-0.2	-0.17	0.03	0.03	-0.11
Normalized Diluted EPS	-0.2	-0.17	0.03	0.02	-0.11
Supplemental Items
EBITDA	-26.3M	-28.58M	12.73M	10.01M	-30.19M
EBITA	-29.45M	-32.14M	9.14M	6.44M	-33.64M
EBIT	-29.45M	-32.14M	9.09M	6.39M	-33.64M
EBITDAR	-	-	-	-	-
Effective Tax Rate - (Ratio)	-	-	-	-	-
Current Domestic Taxes	-	-	-	-	-
Total Current Taxes	-	-	-	-	-
Normalized Net Income	-18.41M	-20.06M	5.42M	4.17M	-20.91M
Interest on Long-Term Debt	1.09M	1.32M	786K	384K	605K
Non-Cash Pension Expense	152K	93K	163K	159K	284K
Supplemental Operating Expense Items
Net Rental Expense, Total	-	-	-	-	-
Imputed Operating Lease Interest Expense	-	-	-	-	-
Imputed Operating Lease Depreciation	-	-	-	-	-
Stock-Based Comp., SG&A Exp. (Total)	344K	49K	422K	315K	-354K
Total Stock-Based Compensation	344K	49K	422K	315K	-354K

Fiscal Period: June	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	22.17M	30.07M	12.98M	6.36M	4.3M
Total Cash And Short Term Investments	22.17M	30.07M	12.98M	6.36M	4.3M
Accounts Receivable, Total	2.73M	6.08M	4.78M	4.56M	3.21M
Other Receivables	246K	308K	516K	668K	453K
Total Receivables	2.97M	6.38M	5.3M	5.22M	3.66M
Inventory	60.67M	43.76M	57.28M	73.44M	51.25M
Prepaid Expenses	1.07M	1.56M	1.94M	1.5M	2.06M
Total Current Assets	86.89M	81.78M	77.51M	86.52M	61.27M
Gross Property Plant And Equipment	44.22M	47.65M	52.69M	52.98M	59.3M
Accumulated Depreciation	-27.59M	-31.4M	-34.41M	-33.28M	-36.53M
Net Property Plant And Equipment	16.63M	16.24M	18.28M	19.7M	22.77M
Other Intangibles, Total	2.96M	3.74M	3.55M	2.83M	2.83M
Other Long-Term Assets, Total	244K	244K	117K	117K	117K
Total Assets	107M	102M	99.46M	109M	86.98M
Liabilities
Accounts Payable, Total	4.26M	5.23M	6.69M	11.93M	5.91M
Accrued Expenses, Total	1.18M	1.25M	1.34M	1.4M	2.2M
Short-term Borrowings	9.37M	10.87M	3.3M	1.17M	6.15M
Current Portion of Leases	1.55M	1.16M	1.24M	512K	428K
Other Current Liabilities	2.16M	3.67M	2.77M	1.74M	1.98M
Total Current Liabilities	18.52M	22.18M	15.32M	16.76M	16.66M
Long-Term Debt	13.08M	9.55M	1.99M	4.09M	7.54M
Long-Term Leases	2.34M	1.43M	1.1M	822K	513K
Other Non Current Liabilities	324K	300K	300K	434K	289K
Total Liabilities	34.26M	33.47M	18.72M	22.11M	25M
Common Stock, Total	196M	225M	228M	228M	237M
Retained Earnings	-124M	-156M	-148M	-142M	-175M
Comprehensive Income and Other	766K	102K	507K	704K	-
Total Common Equity	72.46M	68.53M	80.74M	87.05M	61.98M
Total Equity	72.46M	68.53M	80.74M	87.05M	61.98M
Total Liabilities And Equity	107M	102M	99.46M	109M	86.98M
Supplemental Items
ECS Total Shares Outstanding on Filing Date	109M	160M	165M	165M	201M
ECS Total Common Shares Outstanding	106M	159M	165M	165M	201M
Book Value / Share	0.68	0.43	0.49	0.53	0.31
Tangible Book Value	69.5M	64.8M	77.19M	84.23M	59.15M
Tangible Book Value Per Share	0.66	0.41	0.47	0.51	0.29
Total Debt	26.34M	23.02M	7.62M	6.6M	14.63M
Net Debt	4.17M	-7.06M	-5.36M	241K	10.33M
Debt Equivalent Oper. Leases	-	-	-	-	-
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Raw Materials, Total	1.66M	1.36M	4.56M	2.5M	5.52M
Inventories - Finished Goods, Total	65.14M	43.92M	51.74M	70.1M	44.92M
Inventories - Others	587K	662K	990K	845K	813K
Land - (BS)	4.24M	4.37M	4.44M	4.57M	4.76M
Machinery, Total	39.15M	42.45M	47.52M	47.64M	53.88M
Full Time Employees	92	-	-	-	93
Part Time Employees	-	-	-	-	28
Accumulated Allowance for Doubtful Accounts (Supple)	76K	76K	58K	58K	58K

Fiscal Period: June	2020	2021	2022	2023	2024
Net Income	-14.45M	-32.1M	8.68M	6M	-33.45M
Depreciation & Amortization - CF	3.44M	3.81M	3.78M	3.79M	3.71M
Amortization of Goodwill and Intangible Assets - (CF)	-	-	52K	52K	-
Depreciation & Amortization, Total	3.44M	3.81M	3.83M	3.84M	3.71M
Asset Writedown & Restructuring Costs	-	-	-	675K	-
Other Operating Activities, Total	3.11M	3.94M	3.25M	2.89M	1.96M
Change In Accounts Receivable	2.79M	-3.41M	1.08M	76K	1.56M
Change In Inventories	5.38M	16.92M	-13.53M	-16.16M	22.19M
Change In Accounts Payable	-559K	952K	2.5M	4.22M	-5.23M
Change in Other Net Operating Assets	265K	56K	403K	-38K	-198K
Cash from Operations	-26K	-9.83M	6.22M	1.51M	-9.46M
Capital Expenditure	-2.42M	-3.33M	-6M	-5M	-6.43M
Sale of Property, Plant, and Equipment	-	-	41K	106K	-
Sale (Purchase) of Intangible assets	-	-	-604K	-	-
Other Investing Activities, Total	11K	5K	814K	53K	102K
Cash from Investing	-2.41M	-3.32M	-5.75M	-4.84M	-6.33M
Long-Term Debt Issued, Total	23.89M	10.85M	4.16M	2.1M	14.04M
Total Debt Issued	23.89M	10.85M	4.16M	2.1M	14.04M
Long-Term Debt Repaid, Total	-2.97M	-12.65M	-19.83M	-5.07M	-8.39M
Total Debt Repaid	-2.97M	-12.65M	-19.83M	-5.07M	-8.39M
Issuance of Common Stock	11.6M	24.97M	-	-	9.51M
Other Financing Activities, Total	-1.65M	-2.12M	-1.88M	-331K	-1.43M
Cash from Financing	30.88M	21.06M	-17.56M	-3.3M	13.73M
Net Change in Cash	28.44M	7.9M	-17.09M	-6.62M	-2.06M
Supplemental Items
Cash Interest Paid	612K	1.23M	758K	331K	641K
Cash Income Tax Paid (Refund)	-	-	-	-	-
Levered Free Cash Flow	-10.13M	-4.87M	-9.35M	-8.44M	-6.28M
Unlevered Free Cash Flow	-9.26M	-3.99M	-8.85M	-8.2M	-5.9M
Change In Net Working Capital	-7.78M	-15.57M	12.18M	11.35M	-18.2M
Net Debt Issued / Repaid	20.92M	-1.8M	-15.67M	-2.97M	5.65M

Fiscal Period: June	2020	2021	2022	2023	2024
Profitability
Return on Assets	-18.35	-19.25	5.64	3.83	-21.44
Return on Total Capital	-19.95	-21.11	6.32	4.39	-24.69
Return On Equity %	-19.8	-45.53	11.62	7.15	-44.89
Return on Common Equity	-19.8	-45.53	11.62	7.15	-44.89
Margin Analysis
Gross Profit Margin %	-23.55	-22.96	45.6	41.73	-15.07
SG&A Margin	30.68	28.44	20.2	22.09	22.1
EBITDA Margin %	-65.24	-58.98	19.24	14.42	-43.88
EBITA Margin %	-73.06	-66.32	13.82	9.28	-48.89
EBIT Margin %	-73.06	-66.32	13.74	9.21	-48.89
Income From Continuing Operations Margin %	-35.85	-66.23	13.11	8.64	-48.62
Net Income Margin %	-35.85	-66.23	13.11	8.64	-48.62
Net Avail. For Common Margin %	-35.85	-66.23	13.11	8.64	-48.62
Normalized Net Income Margin	-45.66	-41.4	8.2	6.01	-30.39
Levered Free Cash Flow Margin	-25.13	-10.05	-14.13	-12.16	-9.12
Unlevered Free Cash Flow Margin	-22.98	-8.23	-13.38	-11.82	-8.57
Asset Turnover
Asset Turnover	0.4	0.46	0.66	0.67	0.7
Fixed Assets Turnover	2.41	2.95	3.83	3.66	3.24
Receivables Turnover (Average Receivables)	10.16	11.01	12.19	14.87	17.73
Inventory Turnover (Average Inventory)	0.79	1.14	0.71	0.62	1.27
Short Term Liquidity
Current Ratio	4.69	3.69	5.06	5.16	3.68
Quick Ratio	1.36	1.64	1.19	0.69	0.48
Operating Cash Flow to Current Liabilities	-0	-0.44	0.41	0.09	-0.57
Days Sales Outstanding (Average Receivables)	36.03	33.15	29.95	24.55	20.65
Days Outstanding Inventory (Average Inventory)	465.63	319.85	512.32	589.87	288.24
Average Days Payable Outstanding	39.9	40.56	43.91	60.04	57.3
Cash Conversion Cycle (Average Days)	461.76	312.44	498.36	554.38	251.58
Long Term Solvency
Total Debt/Equity	36.35	33.58	9.44	7.58	23.6
Total Debt / Total Capital	26.66	25.14	8.63	7.05	19.1
LT Debt/Equity	21.27	16.03	3.83	5.64	13
Long-Term Debt / Total Capital	15.6	12	3.5	5.25	10.51
Total Liabilities / Total Assets	32.1	32.81	18.82	20.25	28.74
EBIT / Interest Expense	-21.2	-22.71	11.57	16.64	-55.6
EBITDA / Interest Expense	-18.73	-20.02	16.44	26.64	-49.46
(EBITDA - Capex) / Interest Expense	-20.47	-22.37	8.8	13.63	-60.1
Total Debt / EBITDA	-1.01	-0.81	0.59	0.64	-0.49
Net Debt / EBITDA	-0.16	0.25	-0.41	0.02	-0.35
Total Debt / (EBITDA - Capex)	-0.93	-0.73	1.1	1.26	-0.4
Net Debt / (EBITDA - Capex)	-0.15	0.22	-0.77	0.05	-0.28
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-13.19	20.21	36.53	4.91	-0.88
Gross Profit, 1 Yr. Growth %	-150.28	17.22	-371.15	-4.66	-136.64
EBITDA, 1 Yr. Growth %	-650.09	8.68	-144.53	-22.64	-423.43
EBITA, 1 Yr. Growth %	-1.83K	9.13	-128.45	-31.13	-683.13
EBIT, 1 Yr. Growth %	-1.83K	9.13	-128.29	-31.3	-688.44
Earnings From Cont. Operations, 1 Yr. Growth %	-1.1K	122.06	-127.03	-30.89	-657.94
Net Income, 1 Yr. Growth %	-1.1K	122.06	-127.03	-30.89	-657.94
Normalized Net Income, 1 Yr. Growth %	-2.14K	8.97	-127.03	-24.94	-657.94
Diluted EPS Before Extra, 1 Yr. Growth %	-1.02K	75.72	-117.76	-26.75	-608.99
Accounts Receivable, 1 Yr. Growth %	-47.66	122.77	-21.27	-4.77	-29.59
Inventory, 1 Yr. Growth %	-8.14	-27.88	30.91	28.2	-30.21
Net Property, Plant and Equip., 1 Yr. Growth %	-1.41	-2.33	12.53	7.75	15.61
Total Assets, 1 Yr. Growth %	13.61	-4.42	-2.49	9.75	-20.32
Tangible Book Value, 1 Yr. Growth %	-1.54	-6.77	19.12	9.12	-29.77
Common Equity, 1 Yr. Growth %	-1.47	-5.42	17.82	7.82	-28.8
Cash From Operations, 1 Yr. Growth %	-99.72	37.72K	-163.24	-75.72	-726.23
Capital Expenditures, 1 Yr. Growth %	-24.92	37.41	80.41	-16.77	28.76
Levered Free Cash Flow, 1 Yr. Growth %	-31.37	-51.91	91.81	-8.38	-29.19
Unlevered Free Cash Flow, 1 Yr. Growth %