Cash flow Ferroglobe PLC

Equities

GSM

GB00BYW6GV68

Specialty Mining & Metals

Market Closed - Nasdaq Other stock markets 04:00:00 2024-09-09 pm EDT			5-day change	1st Jan Change
4.190 ^USD	-0.48%		-5.20%	-35.64%

Aug. 06	Transcript : Ferroglobe PLC, Q2 2024 Earnings Call, Aug 06, 2024
Aug. 05	Earnings Flash (GSM) FERROGLOBE Posts Q2 EPS $0.13, vs. Street Est of $0.05	MT

2513668f28e0c8b2.D-Qb3VfVUzrvA1FLSBTy2BItNvUfl-K2L8EvfIaXY_U.P5JwrWeUFH2dVSsCD3ybr2BDQr9dwqTvWpBwF8_fOZpMnGGqAvg4TYh0aQ

Published financial data: FERROGLOBE PLC

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	1.62B	1.14B	1.78B	2.6B	1.65B
Total Revenues	1.62B	1.14B	1.78B	2.6B	1.65B
Cost of Goods Sold, Total	1.21B	835M	1.18B	1.29B	879M
Gross Profit	401M	309M	594M	1.31B	771M
Selling General & Admin Expenses, Total	284M	215M	254M	315M	306M
Depreciation & Amortization - (IS)	120M	108M	97.33M	81.56M	73.53M
Other Operating Expenses	171M	98.43M	187M	199M	169M
Other Operating Expenses, Total	575M	421M	538M	595M	549M
Operating Income	-175M	-112M	56.47M	718M	222M
Interest Expense, Total	-51.58M	-45.11M	-56.35M	-52.11M	-30.05M
Interest And Investment Income	68K	16K	-	-	-
Net Interest Expenses	-51.52M	-45.1M	-56.35M	-52.11M	-30.05M
Currency Exchange Gains (Loss)	2.88M	25.55M	-2.39M	-10M	-7.55M
Other Non Operating Income (Expenses)	-7.6M	-18.52M	-92.58M	-6.63M	-3.32M
EBT, Excl. Unusual Items	-231M	-151M	-94.85M	649M	181M
Restructuring Charges	-	-35.68M	-27.37M	-	-
Impairment of Goodwill	-174M	-	-	-	-
Gain (Loss) On Sale Of Investments	-456K	-	-373K	-	-
Gain (Loss) On Sale Of Assets	-2.22M	1.29M	1.39M	-459K	-
Asset Writedown	-3.07M	-37.5M	1.27M	-56.65M	-25.29M
Insurance Settlements	-	-	-	-	-
Legal Settlements	-1.17M	-	-	-	-
Other Unusual Items	-	-	-	-	-
EBT, Incl. Unusual Items	-412M	-222M	-120M	592M	156M
Income Tax Expense	-41.54M	21.94M	-4.56M	148M	57.54M
Earnings From Continuing Operations	-370M	-244M	-115M	444M	98.48M
Earnings Of Discontinued Operations	84.64M	-5.4M	-	-	-
Net Income to Company	-286M	-250M	-115M	444M	98.48M
Minority Interest	5.04M	3.42M	4.75M	-3.51M	-15.82M
Net Income - (IS)	-281M	-246M	-111M	440M	82.66M
Net Income to Common Incl Extra Items	-281M	-246M	-111M	440M	82.66M
Net Income to Common Excl. Extra Items	-365M	-241M	-111M	440M	82.66M
Per Share Items
Net EPS - Basic	-1.66	-1.46	-0.63	2.34	0.44
Basic EPS - Continuing Operations	-2.16	-1.42	-0.63	2.34	0.44
Basic Weighted Average Shares Outstanding	169M	169M	177M	188M	188M
Net EPS - Diluted	-1.66	-1.46	-0.63	2.32	0.43
Diluted EPS - Continuing Operations	-2.16	-1.43	-0.63	2.32	0.43
Diluted Weighted Average Shares Outstanding	169M	169M	177M	190M	190M
Normalized Basic EPS	-0.82	-0.54	-0.31	2.14	0.52
Normalized Diluted EPS	-0.82	-0.54	-0.31	2.12	0.51
Dividend Per Share	-	-	-	-	-
Payout Ratio	-	-	-	-	-
Supplemental Items
EBITDA	-64.23M	-4.27M	146M	794M	288M
EBITA	-167M	-105M	63.71M	718M	223M
EBIT	-175M	-112M	56.47M	718M	222M
Effective Tax Rate - (Ratio)	10.09	-9.86	3.8	25.01	36.88
Total Current Taxes	6.89M	5.21M	5.28M	139M	60.58M
Total Deferred Taxes	-48.43M	16.73M	-9.85M	9.42M	-3.04M
Normalized Net Income	-139M	-90.66M	-54.53M	402M	97.5M
Interest on Long-Term Debt	35.68M	36.35M	43.68M	42.5M	26.13M
Non-Cash Pension Expense	5.65M	3.5M	4.57M	-2.01M	-
Supplemental Operating Expense Items
Research And Development Expense From Footnotes	-	-	-	-	-
Stock-Based Comp., SG&A Exp. (Total)	4.86M	2.04M	3.75M	5.94M	7.4M
Stock-Based Comp., Other (Total)	-61K	-1K	-	-	-
Total Stock-Based Compensation	4.8M	2.03M	3.75M	5.94M	7.4M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	94.85M	103M	114M	318M	136M
Short Term Investments	5.54M	1.01M	104K	3K	2K
Total Cash And Short Term Investments	100M	104M	114M	318M	136M
Accounts Receivable, Total	232M	202M	322M	294M	220M
Other Receivables	105M	52.1M	66.8M	137M	106M
Notes Receivable	2.95M	3.08M	2.84M	2.68M	2.77M
Total Receivables	340M	257M	392M	434M	329M
Inventory	354M	247M	290M	500M	384M
Prepaid Expenses	13.42M	10.66M	3.21M	5.92M	5.69M
Restricted Cash	-	28.84M	-	2.88M	1.18M
Other Current Assets, Total	10.26M	10.06M	5.2M	25.75M	181M
Total Current Assets	818M	657M	804M	1.29B	1.04B
Gross Property Plant And Equipment	1.5B	1.49B	1.4B	1.28B	1.5B
Accumulated Depreciation	-866M	-996M	-962M	-923M	-997M
Net Property Plant And Equipment	634M	496M	441M	353M	501M
Long-term Investments	2.62M	5.06M	4.09M	14.19M	14.07M
Goodwill	29.7M	29.7M	29.7M	29.7M	29.7M
Other Intangibles, Total	51.27M	20.76M	101M	112M	138M
Loans Receivable Long-Term	-	-	-	-	-
Deferred Tax Assets Long-Term	59.55M	-	7.01M	7.14M	8.76M
Other Long-Term Assets, Total	139M	138M	137M	155M	29.54M
Total Assets	1.73B	1.35B	1.52B	1.96B	1.76B
Liabilities
Accounts Payable, Total	191M	152M	215M	220M	183M
Accrued Expenses, Total	60.5M	52.91M	55.71M	95.9M	95.56M
Short-term Borrowings	-	74.84M	93.09M	60.98M	30.68M
Current Portion of Long-Term Debt	48.93M	73.18M	100M	74.25M	20.47M
Current Portion of Leases	8.9M	8.54M	8.39M	8.93M	8.08M
Current Income Taxes Payable	3.05M	2.54M	1.78M	53.23M	8.35M
Unearned Revenue Current, Total	-	-	2.59M	3.25M	3.68M
Other Current Liabilities	84.82M	69.11M	177M	162M	144M
Total Current Liabilities	397M	433M	654M	678M	494M
Long-Term Debt	532M	381M	413M	385M	228M
Long-Term Leases	16.97M	13.99M	9.97M	12.94M	20.3M
Unearned Revenue Non Current	1.25M	620K	25.32M	37.26M	61.16M
Pension & Other Post Retirement Benefits	56.68M	56.4M	41.24M	25.55M	29.8M
Deferred Tax Liability Non Current	74.06M	27.78M	25.14M	35.85M	32.58M
Other Non Current Liabilities	54.08M	68.86M	34.85M	26.22M	23.41M
Total Liabilities	1.13B	981M	1.2B	1.2B	889M
Common Stock, Total	1.78M	1.78M	1.96M	1.96M	1.96M
Additional Paid In Capital	-	-	-	-	86.22M
Retained Earnings	-281M	-246M	-111M	440M	82.66M
Comprehensive Income and Other	763M	496M	323M	208M	577M
Total Common Equity	484M	251M	214M	650M	748M
Minority Interest	118M	115M	106M	107M	122M
Total Equity	602M	366M	320M	757M	870M
Total Liabilities And Equity	1.73B	1.35B	1.52B	1.96B	1.76B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	169M	169M	187M	187M	188M
ECS Total Common Shares Outstanding	169M	169M	187M	187M	187M
Book Value / Share	2.86	1.48	1.14	3.47	3.99
Tangible Book Value	403M	201M	83.63M	509M	580M
Tangible Book Value Per Share	2.38	1.19	0.45	2.71	3.09
Total Debt	606M	552M	625M	542M	307M
Net Debt	506M	448M	510M	224M	171M
Debt Equivalent of Unfunded Proj. Benefit Obligation	46.86M	44.75M	31.13M	20.15M	20.09M
Minority Interest, Total (Incl. Fin. Div)	118M	115M	106M	107M	122M
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Work In Process, Total	141M	99.26M	111M	266M	183M
Inventories - Finished Goods, Total	158M	101M	118M	170M	163M
Inventories - Others	55.38M	46.58M	60.75M	63.78M	38.27M
Land - (BS)	197M	208M	197M	175M	181M
Machinery, Total	1.28B	1.34B	1.21B	1.13B	1.2B
Full Time Employees	3.46K	3.27K	3.42K	3.26K	3.4K
Assets under Capital Lease - Gross	-	-	-	-	-
Assets under Capital Lease - Accumulated Depreciation	-	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	4.54M	1.7M	1.01M	1.19M	2.91M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	-281M	-246M	-111M	440M	82.66M
Depreciation & Amortization - CF	113M	101M	90.09M	80.83M	72.87M
Amortization of Goodwill and Intangible Assets - (CF)	7.3M	7.18M	7.24M	725K	663K
Depreciation & Amortization, Total	120M	108M	97.33M	81.56M	73.53M
(Gain) Loss From Sale Of Asset	2.22M	-1.29M	-1.39M	368K	29K
(Gain) Loss on Sale of Investments - (CF)	-	-	373K	-	-
Asset Writedown & Restructuring Costs	178M	73.19M	-1.33M	56.65M	25.29M
Stock-Based Compensation (CF)	4.88M	2.02M	3.63M	5.84M	7.4M
Provision and Write-off of Bad Debts	-	-	-	-	-
Net Cash From Discontinued Operations	-82.27M	5.4M	-	-	-
Other Operating Activities, Total	-29.52M	82.89M	168M	83.03M	-8.8M
Change In Accounts Receivable	30.93M	71.03M	-161M	-72.56M	126M
Change In Inventories	91.53M	115M	-60.3M	-221M	102M
Change In Accounts Payable	-63.19M	-55.4M	64.38M	30.64M	-70.57M
Change in Other Net Operating Assets	-45.88M	-	-	-	-160M
Cash from Operations	-74.23M	154M	-1.34M	405M	178M
Capital Expenditure	-32.44M	-30.26M	-27.6M	-52.15M	-83.68M
Sale of Property, Plant, and Equipment	-	341K	-	-	-
Cash Acquisitions	9.09M	-	-	-	-
Divestitures	177M	-	-	-	-
Sale (Purchase) of Intangible assets	-184K	-2.65M	-	-1.15M	-2.79M
Investment in Marketable and Equity Securities, Total	-1.25M	-	-	-	-
Other Investing Activities, Total	14.11M	630K	3.75M	1.53M	4.66M
Cash from Investing	166M	-31.94M	-23.85M	-51.77M	-81.81M
Long-Term Debt Issued, Total	246M	178M	719M	937M	432M
Total Debt Issued	246M	178M	719M	937M	432M
Long-Term Debt Repaid, Total	-385M	-246M	-683M	-1.02B	-651M
Total Debt Repaid	-385M	-246M	-683M	-1.02B	-651M
Issuance of Common Stock	-	-	40M	-	-
Repurchase of Common Stock	-	-	-	-	-
Common Dividends Paid	-	-	-	-	-
Common & Preferred Stock Dividends Paid	-	-	-	-	-
Other Financing Activities, Total	-41.75M	-45.32M	-65.93M	-61M	-63.87M
Cash from Financing	-181M	-113M	10.45M	-140M	-282M
Foreign Exchange Rate Adjustments	-4.18M	-613K	-157K	-6.51M	287K
Miscellaneous Cash Flow Adjustments	-	-	-	-	-
Net Change in Cash	-93.47M	8.38M	-14.89M	206M	-185M
Supplemental Items
Cash Interest Paid	43.03M	37.91M	22.18M	60.82M	42.21M
Cash Income Tax Paid (Refund)	3.59M	-11.83M	3.79M	80.52M	113M
Levered Free Cash Flow	-178M	79.66M	113M	253M	83.4M
Unlevered Free Cash Flow	-146M	108M	148M	286M	102M
Change In Net Working Capital	129M	-101M	-39.63M	197M	31.18M
Net Debt Issued / Repaid	-139M	-68.02M	36.38M	-79.46M	-218M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	-5.66	-4.56	2.46	25.77	7.47
Return on Total Capital	-7.97	-6.61	3.79	39.99	11.22
Return On Equity %	-49.81	-50.49	-33.65	82.43	12.11
Return on Common Equity	-58.32	-65.52	-47.56	101.92	11.82
Margin Analysis
Gross Profit Margin %	24.82	27	33.39	50.53	46.71
SG&A Margin	17.57	18.77	14.25	12.12	18.54
EBITDA Margin %	-3.98	-0.37	8.23	30.58	17.44
EBITA Margin %	-10.36	-9.2	3.58	27.65	13.51
EBIT Margin %	-10.81	-9.83	3.17	27.62	13.47
Income From Continuing Operations Margin %	-22.92	-21.35	-6.49	17.08	5.97
Net Income Margin %	-17.37	-21.52	-6.22	16.95	5.01
Net Avail. For Common Margin %	-22.61	-21.05	-6.22	16.95	5.01
Normalized Net Income Margin	-8.62	-7.92	-3.07	15.48	5.91
Levered Free Cash Flow Margin	-11.03	6.96	6.36	9.75	5.05
Unlevered Free Cash Flow Margin	-9.04	9.42	8.34	11	6.19
Asset Turnover
Asset Turnover	0.84	0.74	1.24	1.49	0.89
Fixed Assets Turnover	2.31	2.03	3.8	6.54	3.34
Receivables Turnover (Average Receivables)	10.65	5.27	6.79	8.43	6.41
Inventory Turnover (Average Inventory)	2.99	2.78	4.42	3.25	1.99
Short Term Liquidity