Balance Sheet Gecina

Equities

GFC

FR0010040865

Diversified REITs

Real-time Euronext Paris Other stock markets 07:04:45 2025-01-16 am EST			5-day change	1st Jan Change
90.25 ^EUR	-0.99%		+1.12%	-0.11%

Jan. 14	Gecina Secures Nine-year Office Lease Deal in France	MT
Jan. 14	Gecina: lease signed for Icône building	CF

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Published financial data: GECINA

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Rental Revenues	673M	658M	613M	626M	667M
Tenant Reimbursements	-	123M	-	-	-
Other Revenues, Total	14.71M	9.75M	126M	118M	136M
Total Revenues	688M	791M	740M	744M	802M
Property Expenses	-18.22M	189M	181M	111M	210M
Selling General & Admin Expenses, Total	92.97M	92.04M	80.48M	79.72M	77.86M
Depreciation & Amortization - (IS) - (Collected)	13.4M	9.66M	11.11M	9.88M	11.28M
Amortization of Goodwill and Intangible Assets - (IS)	-	-	-	-	-
Other Operating Expenses	72.55M	7.1M	-625K	66.57M	2.89M
Total Operating Expenses	161M	297M	272M	268M	302M
Operating Income (REIT / Utility Template)	528M	493M	468M	476M	501M
Interest Expense, Total	-102M	-94.68M	-88.93M	-95.78M	-88.16M
Interest and Investment Income	-	3.55M	6.7M	12.13M	-
Net Interest Expenses	-102M	-91.13M	-82.24M	-83.65M	-88.16M
Currency Exchange Gains (Loss)	-75K	228K	398K	-2K	-44K
Other Non Operating Income (Expenses)	-21.9M	-23.77M	11.5M	53.67M	-68.02M
EBT, Excl. Unusual Items	404M	379M	398M	446M	345M
Impairment of Goodwill	-	-	-	-	-17.46M
Gain (Loss) on Sale of Assets	102M	-4.32M	24.4M	5.38M	66.97M
Asset Writedown	1B	-230M	460M	-281M	-2.19B
Insurance Settlements	-	-	2.4M	-	-
Legal Settlements	30M	-	-	-	-
Other Unusual Items	-15.93M	-	-31.71M	-	-
EBT, Incl. Unusual Items	1.52B	145M	852M	171M	-1.79B
Income Tax Expense	4.14M	-9.57M	1.85M	3.38M	1.99M
Earnings From Continuing Operations	1.52B	154M	851M	167M	-1.79B
Earnings Of Discontinued Operations	-	-	-	-	-
Net Income to Company	1.52B	154M	851M	167M	-1.79B
Minority Interest	-1.6M	492K	-1.32M	2.15M	5.91M
Net Income - (IS)	1.52B	155M	849M	170M	-1.79B
Net Income to Common Incl Extra Items	1.52B	155M	849M	170M	-1.79B
Net Income to Common Excl. Extra Items	1.52B	155M	849M	170M	-1.79B
Per Share Items
Net EPS - Basic	20.58	2.1	11.53	2.3	-24.2
Basic EPS - Continuing Operations	20.58	2.1	11.53	2.3	-24.2
Basic Weighted Average Shares Outstanding	73.64M	73.56M	73.68M	73.76M	73.85M
Net EPS - Diluted	20.52	2.1	11.5	2.29	-24.2
Diluted EPS - Continuing Operations	20.52	2.1	11.5	2.29	-24.2
Diluted Weighted Average Shares Outstanding	73.85M	73.7M	73.83M	73.94M	73.85M
Normalized Basic EPS	3.4	3.22	3.36	3.81	3
Normalized Diluted EPS	3.39	3.22	3.35	3.8	3
Dividend Per Share	5.3	5.3	5.3	5.3	5.3
Payout Ratio	26.77	251.47	45.96	230.54	-21.9
Supplemental Items
EBITDA	541M	503M	479M	486M	512M
EBITA	530M	493M	468M	476M	501M
EBIT	528M	493M	468M	476M	501M
EBITDAR	551M	513M	-	-	-
Effective Tax Rate - (Ratio)	0.27	-6.61	0.22	1.98	-0.11
Total Current Taxes	1.68M	-13.86M	-928K	-350K	109K
Total Deferred Taxes	-4.13M	-1.59M	169K	504K	270K
Normalized Net Income	251M	237M	247M	281M	221M
Interest Capitalized	7.66M	3.78M	4.2M	5.34M	9.5M
Interest on Long-Term Debt	9.18M	5.31M	5.73M	6.85M	10.99M
Non-Cash Pension Expense	225K	-54K	-238K	-346K	177K
Supplemental Operating Expense Items
Net Rental Expense, Total	10.55M	10.27M	-	-	-
Imputed Operating Lease Interest Expense	1.25M	1.11M	-	-	-
Imputed Operating Lease Depreciation	9.3M	9.17M	-	-	-
Stock-Based Comp., SG&A Exp. (Total)	2.77M	4.2M	4.09M	4.87M	4.55M
Total Stock-Based Compensation	2.77M	4.2M	4.09M	4.87M	4.55M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Gross Property Plant And Equipment	18.85B	19.14B	19.67B	19.63B	16.7B
Accumulated Depreciation	-36.04M	-46.53M	-50.41M	-51.48M	-56M
Net Property Plant And Equipment	18.82B	19.09B	19.62B	19.57B	16.64B
Total Real Estate Assets	18.82B	19.09B	19.62B	19.57B	16.64B
Cash And Equivalents	37.85M	174M	15.1M	50.57M	144M
Accounts Receivable, Total	66.1M	56.36M	39.35M	33.33M	32.24M
Other Receivables	57.73M	41.04M	41.12M	62.99M	53.28M
Investment In Debt and Equity Securities	1.44M	1.25M	13.26M	13.72M	5.46M
Goodwill	196M	191M	185M	183M	166M
Other Intangibles, Total	7.02M	9M	10.61M	13.53M	12.78M
Other Current Assets, Total	1.05B	474M	304M	264M	241M
Deferred Tax Assets Long-Term (Collected)	1.9M	1.9M	1.67M	1.16M	892K
Other Long-Term Assets, Total	220M	207M	212M	481M	351M
Total Assets	20.45B	20.25B	20.44B	20.68B	17.65B
Liabilities
Current Portion of Long-Term Debt	222M	287M	614M	355M	49.6M
Current Portion of Leases	-	-	-	-	-
Short-Term Borrowings	1.66B	1.33B	1.13B	1.57B	550M
Long-Term Debt	5.4B	5.62B	5.17B	5.45B	5.91B
Long-Term Leases	50.48M	50.72M	50.57M	50.07M	49.61M
Accounts Payable, Total	47.6M	61.46M	57.06M	49.19M	49.04M
Accrued Expenses, Total	47.38M	47.27M	44.61M	38.06M	54.45M
Current Income Taxes Payable	1.6M	4.5M	4.02M	3.78M	3.54M
Unearned Revenue, Current	7.15M	2.51M	3.4M	2.18M	9.22M
Other Current Liabilities - (Brok / FS / Ins. / REIT Template)	251M	242M	278M	283M	282M
Pension & Other Post Retirement Benefits	15.29M	15.93M	-	-	-
Deferred Tax Liability Non-Current	1.65M	64K	-	-	-
Other Non Current Liabilities	20.38M	86.86M	100M	91.18M	92.71M
Total Liabilities	7.73B	7.75B	7.46B	7.9B	7.05B
Common Stock, Total	573M	574M	574M	575M	575M
Additional Paid In Capital	3.28B	3.3B	3.3B	3.3B	3.31B
Retained Earnings	1.52B	155M	849M	170M	-1.79B
Comprehensive Income and Other	7.33B	8.45B	8.23B	8.71B	8.49B
Total Common Equity	12.7B	12.47B	12.96B	12.76B	10.58B
Minority Interest	27.35M	26.58M	26.87M	23.68M	16.72M
Total Equity	12.73B	12.5B	12.98B	12.78B	10.6B
Total Liabilities And Equity	20.45B	20.25B	20.44B	20.68B	17.65B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	73.45M	73.62M	73.71M	73.8M	73.88M
ECS Total Common Shares Outstanding	73.45M	73.62M	73.71M	73.8M	73.88M
Book Value / Share	172.89	169.44	175.76	172.86	143.24
Tangible Book Value	12.5B	12.27B	12.76B	12.56B	10.4B
Tangible Book Value Per Share	170.13	166.72	173.12	170.19	140.83
Total Debt	7.34B	7.29B	6.97B	7.43B	6.56B
Net Debt	7.3B	7.11B	6.95B	7.38B	6.41B
Debt Equivalent of Unfunded Proj. Benefit Obligation	15.29M	15.93M	13.22M	10.29M	9.67M
Debt Equivalent Oper. Leases	84.37M	82.19M	-	-	-
Minority Interest, Total (Incl. Fin. Div)	27.35M	26.58M	26.87M	23.68M	16.72M
Equity Method Investments, Total	74.09M	76.33M	90.83M	151M	123M
Account Code - Inventory Valuation	3	3	3	3	3
Inventories - Finished Goods, Total	929M	368M	210M	208M	185M
Inventories - Others	37.8M	5.93M	-	-	-
Full Time Employees	513	498	500	478	473
Accumulated Allowance for Doubtful Accounts (Supple)	17.65M	24.76M	23.97M	25.86M	30.09M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	1.52B	155M	849M	170M	-1.79B
Depreciation, Depletion & Amortization	10.98M	9.66M	11.11M	9.88M	11.28M
Amortization of Goodwill and Intangible Assets - (CF)	2.42M	-	-	-	-
Total Depreciation, Depletion & Amortization	13.4M	9.66M	11.11M	9.88M	11.28M
(Gain) Loss On Sale of Asset - (CF)	-103M	46.48M	1.29M	-1.22M	-66.97M
(Gain) Loss on Sale of Investments - (CF)	-	-	-	-	-
Total Asset Writedown	-959M	187M	-485M	277M	2.2B
(Income) Loss On Equity Investments - (CF)	-4.65M	-4.4M	-4.6M	6.08M	20.84M
Stock-Based Compensation (CF)	2.77M	4.2M	4.09M	4.87M	4.55M
Change in Accounts Receivable	90.83M	4.34M	20.42M	-17.96M	4.96M
Change In Inventories	-	-	-	-	-
Change in Accounts Payable	2.99M	14.05M	-4.41M	-7.8M	-150K
Change in Unearned Revenues	4.01M	-4.64M	893K	-1.22M	7.05M
Change In Income Taxes	-18.98M	3.51M	-2.48M	-7.21M	16.5M
Change in Other Net Operating Assets (Collected)	2.29M	-837K	3.07M	-2.62M	-4.13M
Other Operating Activities	74.21M	90.06M	88.41M	54.75M	126M
Net Cash From Discontinued Operations	-	-	-	-	-
Cash from Operations	620M	505M	482M	484M	535M
Acquisition of Real Estate Assets, Total	-548M	-273M	-355M	-361M	-385M
Sale of Real Estate Assets, Total	876M	467M	507M	129M	1.25B
Net Sale / Acquisition of Real Estate Assets	328M	194M	152M	-231M	869M
Cash Acquisitions	-	-	-	-	-
Divestitures	-	-	-	-	-
Purchase / Sale of Intangible Assets	-2.49M	-5M	-5.98M	-8.23M	-5.94M
Investment in Marketable and Equity Securities, Total	-3.73M	-1.44M	-24.1M	-58.29M	-245K
Net (Increase) Decrease in Loans Originated / Sold - Investing	46.16M	469K	12K	1.96M	55K
Other Investing Activities, Total	-84.46M	-8.72M	72.3M	30.76M	20.78M
Cash from Investing	283M	180M	194M	-265M	884M
Long-Term Debt Issued, Total	4.45B	3.84B	3.49B	6.35B	5.07B
Total Debt Issued	4.45B	3.84B	3.49B	6.35B	5.07B
Long-Term Debt Repaid, Total	-4.65B	-3.9B	-3.79B	-6.03B	-5.91B
Total Debt Repaid	-4.65B	-3.9B	-3.79B	-6.03B	-5.91B
Issuance of Common Stock	9.34M	6.72M	4.93M	4.28M	4.1M
Repurchase of Common Stock	-108M	-	-	-13K	-36K
Common Dividends Paid	-406M	-389M	-390M	-391M	-391M
Common & Preferred Stock Dividends Paid	-406M	-389M	-390M	-391M	-391M
Other Financing Activities, Total	-190M	-110M	-145M	-117M	-92.01M
Cash from Financing	-897M	-548M	-835M	-183M	-1.33B
Miscellaneous Cash Flow Adjustments	-4K	1K	-	-	1K
Net Change in Cash	6.16M	136M	-159M	35.47M	93.14M
Supplemental Items
Cash Income Tax Paid (Refund)	7.48M	7.97M	8.73M	-12.8M	2.22M
Net Debt Issued / Repaid	-203M	-55.72M	-304M	321M	-847M
Levered Free Cash Flow	39.56M	859M	459M	253M	324M
Unlevered Free Cash Flow	103M	918M	514M	313M	379M
Change In Net Working Capital	237M	-604M	-216M	-13.04M	-55.95M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	1.64	1.52	1.44	1.45	1.63
Return on Total Capital	1.68	1.55	1.47	1.48	1.68
Return On Equity %	12.39	1.22	6.67	1.3	-15.34
Return on Common Equity	12.41	1.23	6.68	1.32	-15.31
Margin Analysis
Gross Profit Margin %	102.65	76.16	75.55	85.02	73.88
SG&A Margin	13.51	11.64	10.88	10.72	9.7
EBITDA Margin %	78.6	63.62	64.76	65.35	63.82
EBITA Margin %	77	62.4	63.26	64.03	62.41
EBIT Margin %	76.65	62.4	63.26	64.03	62.41
Income From Continuing Operations Margin %	220.41	19.52	114.98	22.51	-223.47
Net Income Margin %	220.18	19.58	114.8	22.8	-222.73
Net Avail. For Common Margin %	220.18	19.58	114.8	22.8	-222.73
Normalized Net Income Margin	36.41	29.99	33.42	37.79	27.57
Levered Free Cash Flow Margin	5.75	108.66	62.02	34	40.34
Unlevered Free Cash Flow Margin	15.01	116.14	69.53	42.04	47.21
Asset Turnover
Asset Turnover	0.03	0.04	0.04	0.04	0.04
Fixed Assets Turnover	0.04	0.04	0.04	0.04	0.04
Receivables Turnover (Average Receivables)	7.98	11.68	13.53	17.22	20.34
Inventory Turnover (Average Inventory)	-0.02	0.28	0.62	0.53	1.07
Short Term Liquidity
Current Ratio	0.54	0.38	0.19	0.18	0.47
Quick Ratio	0.07	0.14	0.04	0.06	0.23
Operating Cash Flow to Current Liabilities	0.28	0.26	0.23	0.21	0.54
Days Sales Outstanding (Average Receivables)	45.77	31.34	26.98	21.19	17.95
Days Outstanding Inventory (Average Inventory)	-16.66K	1.3K	587.12	683.44	341.53
Average Days Payable Outstanding	71.74	-49.42	1.16K	177.63	95.97
Cash Conversion Cycle (Average Days)	-16.68K	1.38K	-548.22	527	263.51
Long Term Solvency
Total Debt/Equity	57.64	58.3	53.67	58.13	61.87
Total Debt / Total Capital	36.56	36.83	34.93	36.76	38.22
LT Debt/Equity	42.83	45.4	40.24	43.04	56.21
Long-Term Debt / Total Capital	27.17	28.68	26.19	27.22	34.73
Total Liabilities / Total Assets	37.78	38.27	36.48	38.19	39.94
EBIT / Interest Expense	5.17	5.21	5.26	4.97	5.68
EBITDA / Interest Expense	5.3	5.31	5.39	5.08	5.81
(EBITDA - Capex) / Interest Expense	5.27	5.28	5.34	5.03	5.81
Total Debt / EBITDA	13.56	14.49	14.54	15.28	12.81
Net Debt / EBITDA	13.49	14.14	14.51	15.18	12.53
Total Debt / (EBITDA - Capex)	13.64	14.57	14.66	15.42	12.81
Net Debt / (EBITDA - Capex)	13.57	14.22	14.63	15.32	12.53
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	1.85	-3.82	-6.43	0.12	7.85
Gross Profit, 1 Yr. Growth %	0.95	-5.53	-7.17	0.52	4.6
EBITDA, 1 Yr. Growth %	3.12	-7.67	-4.8	0.96	3.98
EBITA, 1 Yr. Growth %	3.71	-7.16	-5.19	1.25	3.77
EBIT, 1 Yr. Growth %	3.24	-7.16	-5.19	1.25