Cash flow Givaudan SA

Equities

GIVN

CH0010645932

Specialty Chemicals

Market Closed - Swiss Exchange Other stock markets 11:31:19 2024-12-13 am EST			5-day change	1st Jan Change
4,021.00 ^CHF	-0.49%		+1.85%	+15.41%

Dec. 09	GIVAUDAN AG : Gets a Neutral rating from UBS	ZD
Dec. 03	Swiss Fragrance Group Givaudan Establishes New Humanitarian Fund	MT

3dcaa9983a727f205eb281a9b6856f8._i80oGtHO_77E_izFQEvg1kS9z93ENC5gXyVsx_Jvaw.n15m-iAYTp22UJfDQnROwglqxAxBfr_-xhanwFi_xca_XFnHUnVdrKpmiw

Published financial data: GIVAUDAN SA

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	6.2B	6.32B	6.68B	7.12B	6.92B
Total Revenues	6.2B	6.32B	6.68B	7.12B	6.92B
Cost of Goods Sold, Total	3.67B	3.66B	3.83B	4.36B	4.07B
Gross Profit	2.53B	2.66B	2.86B	2.76B	2.85B
Selling General & Admin Expenses, Total	1.02B	1.07B	1.16B	1.11B	1.1B
R&D Expenses	528M	536M	562M	522M	519M
Other Operating Expenses	50M	20M	29M	30M	108M
Other Operating Expenses, Total	1.6B	1.63B	1.76B	1.66B	1.73B
Operating Income	931M	1.03B	1.1B	1.1B	1.11B
Interest Expense, Total	-70M	-82M	-89M	-95M	-114M
Interest And Investment Income	5M	5M	8M	11M	8M
Net Interest Expenses	-65M	-77M	-81M	-84M	-106M
Income (Loss) On Equity Invest.	4M	3M	2M	11M	5M
Currency Exchange Gains (Loss)	-5M	-52M	43M	96M	96M
Other Non Operating Income (Expenses)	-33M	15M	-81M	-191M	-111M
EBT, Excl. Unusual Items	832M	920M	982M	930M	998M
Restructuring Charges	-	-13M	-3M	-	-
Merger & Related Restructuring Charges	-29M	-25M	-12M	-5M	-3M
Gain (Loss) On Sale Of Investments	-	-	-	-	-
Gain (Loss) On Sale Of Assets	-4M	-6M	-2M	3M	-5M
Asset Writedown	-1M	-	-	-	-1M
Insurance Settlements	10M	-	-	-	-
Other Unusual Items	-	-	-	-	-
EBT, Incl. Unusual Items	808M	876M	965M	928M	989M
Income Tax Expense	106M	133M	144M	72M	96M
Earnings From Continuing Operations	702M	743M	821M	856M	893M
Net Income to Company	702M	743M	821M	856M	893M
Net Income - (IS)	702M	743M	821M	856M	893M
Net Income to Common Incl Extra Items	702M	743M	821M	856M	893M
Net Income to Common Excl. Extra Items	702M	743M	821M	856M	893M
Per Share Items
Net EPS - Basic	76.17	80.59	89.03	92.83	96.81
Basic EPS - Continuing Operations	76.17	80.59	89.03	92.83	96.81
Basic Weighted Average Shares Outstanding	9.22M	9.22M	9.22M	9.22M	9.22M
Net EPS - Diluted	75.59	79.96	88.37	92.51	96.47
Diluted EPS - Continuing Operations	75.59	79.96	88.37	92.51	96.47
Diluted Weighted Average Shares Outstanding	9.29M	9.29M	9.29M	9.25M	9.26M
Normalized Basic EPS	56.42	62.37	66.56	63.03	67.62
Normalized Diluted EPS	55.99	61.88	66.06	62.82	67.39
Dividend Per Share	62	64	66	67	68
Payout Ratio	78.63	76.85	71.74	70.91	69.09
American Depositary Receipts Ratio (ADR)	0.02	0.02	0.02	0.02	0.02
Supplemental Items
EBITDA	1.2B	1.33B	1.4B	1.37B	1.36B
EBITA	1.05B	1.18B	1.25B	1.21B	1.21B
EBIT	931M	1.03B	1.1B	1.1B	1.11B
EBITDAR	1.22B	1.35B	1.42B	1.38B	1.37B
Effective Tax Rate - (Ratio)	13.12	15.18	14.92	7.76	9.71
Total Current Taxes	131M	170M	187M	57M	158M
Total Deferred Taxes	-25M	-37M	-43M	15M	-62M
Normalized Net Income	520M	575M	614M	581M	624M
Interest on Long-Term Debt	10M	10M	-	-	-
Non-Cash Pension Expense	7M	7M	3M	3M	3M
Supplemental Operating Expense Items
Selling and Marketing Expenses	791M	848M	921M	907M	897M
General and Administrative Expenses	221M	218M	239M	200M	202M
Research And Development Expense From Footnotes	528M	536M	562M	522M	519M
Net Rental Expense, Total	14M	17M	18M	19M	7M
Imputed Operating Lease Interest Expense	2.12M	2.6M	2.81M	2.98M	1.29M
Imputed Operating Lease Depreciation	11.88M	14.4M	15.19M	16.02M	5.71M
Stock-Based Comp., Other (Total)	41M	56M	67M	18M	29M
Total Stock-Based Compensation	41M	56M	67M	18M	29M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	452M	411M	273M	475M	600M
Short Term Investments	-	-	-	-	-
Trading Asset Securities, Total	4M	4M	4M	13M	8M
Total Cash And Short Term Investments	456M	415M	277M	488M	608M
Accounts Receivable, Total	1.36B	1.36B	1.46B	1.51B	1.45B
Other Receivables	213M	220M	204M	199M	189M
Total Receivables	1.58B	1.58B	1.67B	1.71B	1.64B
Inventory	1.15B	1.2B	1.38B	1.42B	1.28B
Prepaid Expenses	35M	50M	65M	64M	66M
Other Current Assets, Total	24M	54M	16M	21M	25M
Total Current Assets	3.24B	3.3B	3.41B	3.71B	3.62B
Gross Property Plant And Equipment	4.12B	4.13B	4.34B	4.51B	4.5B
Accumulated Depreciation	-1.79B	-1.91B	-2.05B	-2.21B	-2.26B
Net Property Plant And Equipment	2.33B	2.22B	2.29B	2.29B	2.24B
Long-term Investments	211M	215M	334M	339M	319M
Goodwill	3.15B	3.29B	3.5B	3.42B	3.2B
Other Intangibles, Total	1.14B	1.25B	1.36B	1.22B	1.26B
Deferred Tax Assets Long-Term	211M	218M	182M	112M	118M
Other Long-Term Assets, Total	120M	161M	354M	412M	375M
Total Assets	10.4B	10.66B	11.42B	11.51B	11.13B
Liabilities
Accounts Payable, Total	833M	809M	1.01B	861M	891M
Accrued Expenses, Total	192M	217M	240M	169M	170M
Short-term Borrowings	2M	1M	1M	-	-
Current Portion of Long-Term Debt	291M	160M	379M	307M	397M
Current Portion of Leases	42M	45M	48M	49M	45M
Current Income Taxes Payable	111M	157M	188M	123M	136M
Other Current Liabilities	359M	407M	454M	462M	422M
Total Current Liabilities	1.83B	1.8B	2.32B	1.97B	2.06B
Long-Term Debt	3.4B	3.88B	3.88B	4.3B	4.1B
Long-Term Leases	399M	369M	356M	352M	362M
Pension & Other Post Retirement Benefits	601M	545M	371M	177M	165M
Deferred Tax Liability Non Current	280M	310M	280M	270M	232M
Other Non Current Liabilities	230M	254M	271M	205M	209M
Total Liabilities	6.74B	7.15B	7.48B	7.27B	7.13B
Common Stock, Total	92M	92M	92M	92M	92M
Retained Earnings	5.96B	6.13B	6.36B	6.61B	6.73B
Treasury Stock	-168M	-168M	-211M	-228M	-199M
Comprehensive Income and Other	-2.24B	-2.57B	-2.32B	-2.25B	-2.63B
Total Common Equity	3.64B	3.49B	3.93B	4.23B	3.99B
Minority Interest	19M	18M	12M	5M	5M
Total Equity	3.66B	3.51B	3.94B	4.24B	4B
Total Liabilities And Equity	10.4B	10.66B	11.42B	11.51B	11.13B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	9.22M	9.22M	9.22M	9.23M	9.23M
ECS Total Common Shares Outstanding	9.22M	9.22M	9.22M	9.23M	9.23M
Book Value / Share	394.88	378.65	426.1	458.66	432.74
Tangible Book Value	-646M	-1.05B	-924M	-414M	-466M
Tangible Book Value Per Share	-70.08	-114.25	-100.21	-44.87	-50.5
Total Debt	4.13B	4.45B	4.67B	5B	4.9B
Net Debt	3.68B	4.04B	4.39B	4.52B	4.3B
Debt Equivalent of Unfunded Proj. Benefit Obligation	507M	464M	243M	46M	69M
Debt Equivalent Oper. Leases	112M	136M	144M	152M	56M
Minority Interest, Total (Incl. Fin. Div)	19M	18M	12M	5M	5M
Equity Method Investments, Total	34M	35M	37M	53M	48M
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	438M	460M	542M	597M	490M
Inventories - Work In Process, Total	773M	815M	919M	911M	870M
Land - (BS)	131M	129M	131M	128M	120M
Buildings, Total	1.44B	1.51B	1.56B	1.57B	1.53B
Machinery, Total	1.84B	1.88B	1.97B	2.07B	2.08B
Full Time Employees	14.97K	15.85K	16.84K	16.68K	16.26K
Part Time Employees	-	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	20M	19M	20M	24M	23M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	702M	743M	821M	856M	893M
Depreciation & Amortization - CF	193M	201M	204M	209M	202M
Amortization of Goodwill and Intangible Assets - (CF)	123M	150M	148M	112M	100M
Depreciation & Amortization, Total	316M	351M	352M	321M	302M
Amortization of Deferred Charges, Total - (CF)	39M	39M	41M	45M	56M
(Gain) Loss on Sale of Investments - (CF)	8M	-41M	59M	184M	84M
Asset Writedown & Restructuring Costs	-1M	19M	7M	-5M	25M
Stock-Based Compensation (CF)	41M	56M	67M	4M	29M
Other Operating Activities, Total	46M	100M	37M	-190M	-64M
Change In Accounts Receivable	-101M	-76M	-93M	-112M	-112M
Change In Inventories	-28M	-68M	-165M	-82M	43M
Change In Accounts Payable	108M	27M	167M	-95M	105M
Change in Other Net Operating Assets	6M	-17M	-5M	22M	12M
Cash from Operations	1.14B	1.13B	1.29B	948M	1.37B
Capital Expenditure	-275M	-188M	-186M	-226M	-215M
Sale of Property, Plant, and Equipment	74M	8M	9M	15M	4M
Cash Acquisitions	-478M	-629M	-401M	-	-183M
Sale (Purchase) of Real Estate properties	2M	-	-	-	-
Sale (Purchase) of Intangible assets	-45M	-37M	-70M	-78M	-60M
Investment in Marketable and Equity Securities, Total	-105M	-3M	-92M	-6M	-13M
Other Investing Activities, Total	-64M	30M	-167M	-133M	0
Cash from Investing	-891M	-819M	-907M	-428M	-467M
Short Term Debt Issued, Total	2.9B	3.04B	1.51B	2.82B	2.86B
Long-Term Debt Issued, Total	660M	1.4B	316M	708M	738M
Total Debt Issued	3.56B	4.45B	1.83B	3.52B	3.6B
Short Term Debt Repaid, Total	-2.92B	-3.3B	-1.51B	-3.04B	-3.11B
Long-Term Debt Repaid, Total	-236M	-836M	-71M	-59M	-439M
Total Debt Repaid	-3.16B	-4.14B	-1.58B	-3.09B	-3.55B
Repurchase of Common Stock	-	-	-69M	-51M	-29M
Common Dividends Paid	-552M	-571M	-589M	-607M	-617M
Common & Preferred Stock Dividends Paid	-552M	-571M	-589M	-607M	-617M
Other Financing Activities, Total	-61M	-88M	-109M	-81M	-99M
Cash from Financing	-204M	-346M	-518M	-308M	-699M
Foreign Exchange Rate Adjustments	-12M	-9M	-1M	-11M	-82M
Net Change in Cash	29M	-41M	-138M	201M	125M
Supplemental Items
Cash Interest Paid	51M	53M	72M	72M	97M
Cash Income Tax Paid (Refund)	106M	125M	153M	182M	121M
Levered Free Cash Flow	671M	811M	890M	339M	999M
Unlevered Free Cash Flow	714M	860M	943M	396M	1.07B
Change In Net Working Capital	-57M	3M	-55M	368M	-262M
Net Debt Issued / Repaid	409M	313M	249M	431M	46M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	5.92	6.12	6.22	5.98	6.15
Return on Total Capital	7.87	8.18	8.29	7.69	7.67
Return On Equity %	19	20.73	22.04	20.93	21.69
Return on Common Equity	19.1	20.84	22.13	20.98	21.71
Margin Analysis
Gross Profit Margin %	40.79	42.06	42.71	38.81	41.16
SG&A Margin	16.46	16.96	17.43	15.62	15.98
EBITDA Margin %	19.36	21.05	20.95	19.19	19.73
EBITA Margin %	16.99	18.68	18.66	17	17.56
EBIT Margin %	15.01	16.31	16.44	15.43	16.11
Income From Continuing Operations Margin %	11.32	11.75	12.28	12.03	12.91
Net Income Margin %	11.32	11.75	12.28	12.03	12.91
Net Avail. For Common Margin %	11.32	11.75	12.28	12.03	12.91
Normalized Net Income Margin	8.38	9.1	9.18	8.17	9.02
Levered Free Cash Flow Margin	10.82	12.83	13.32	4.76	14.45
Unlevered Free Cash Flow Margin	11.51	13.61	14.11	5.57	15.45
Asset Turnover
Asset Turnover	0.63	0.6	0.61	0.62	0.61
Fixed Assets Turnover	3.04	2.78	2.96	3.1	3.05
Receivables Turnover (Average Receivables)	4.74	4.64	4.74	4.78	4.67
Inventory Turnover (Average Inventory)	3.27	3.12	2.97	3.11	3.02
Short Term Liquidity
Current Ratio	1.77	1.84	1.47	1.88	1.75
Quick Ratio	1.11	1.11	0.84	1.12	1.09
Operating Cash Flow to Current Liabilities	0.62	0.63	0.56	0.48	0.67
Days Sales Outstanding (Average Receivables)	77.02	78.85	77.08	76.31	78.23
Days Outstanding Inventory (Average Inventory)	111.65	117.4	123.02	117.46	121.01
Average Days Payable Outstanding	76.06	80.88	82.73	77.56	81.55
Cash Conversion Cycle (Average Days)	112.61	115.37	117.36	116.22	117.69
Long Term Solvency
Total Debt/Equity	112.9	126.88	118.42	118.13	122.69
Total Debt / Total Capital	53.03	55.92	54.22	54.15	55.09
LT Debt/Equity	103.74	121.01	107.56	109.72	111.63
Long-Term Debt / Total Capital	48.73	53.34	49.24	50.3	50.13
Total Liabilities / Total Assets	64.8	67.09	65.49	63.19	64.07
EBIT / Interest Expense	13.3	12.57	12.35	11.56	9.77
EBITDA / Interest Expense	17.81	16.85	16.3	14.94	12.42
(EBITDA - Capex) / Interest Expense	13.89	14.56	14.21	12.56	10.54