Cash flow GN Store Nord A/S

Equities

GN

DK0010272632

Household Electronics

Market Closed - Nasdaq Copenhagen Other stock markets 11:20:00 2024-09-11 am EDT			5-day change	1st Jan Change
160.55 ^DKK	+1.29%		-2.13%	-6.55%

Sep. 10	Hearing Aid Stocks Drop After Apple Adds Health Features to AirPods	DJ
Sep. 10	Hearing aid makers slip after Apple rolls out hearing aid features, analysts shrug off threat	RE

77aed4e9623.yifuIiyZXcUGNfn7BD9-OdQppnImaOvg9RpFIIUOPhA._2ioEFbPGJBleYOscEY7WL5v6RVJBY26oXd1a8F5Z2D9SbgQG_Uw8U5juA

Published financial data: GN STORE NORD A/S

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	12.57B	13.45B	15.78B	18.69B	18.12B
Total Revenues	12.57B	13.45B	15.78B	18.69B	18.12B
Cost of Goods Sold, Total	4.99B	6.15B	7.09B	9.3B	9.08B
Gross Profit	7.58B	7.3B	8.68B	9.38B	9.04B
Selling General & Admin Expenses, Total	4.24B	4.39B	4.7B	5.8B	5.78B
R&D Expenses	977M	1.05B	1.38B	1.37B	1.16B
Amortization of Goodwill and Intangible Assets - (IS)	199M	198M	161M	420M	389M
Other Operating Expenses	3M	-103M	-15M	17M	-8M
Other Operating Expenses, Total	5.42B	5.53B	6.23B	7.61B	7.32B
Operating Income	2.16B	1.77B	2.45B	1.77B	1.72B
Interest Expense, Total	-111M	-68M	-91M	-380M	-326M
Interest And Investment Income	47M	5M	2M	7M	63M
Net Interest Expenses	-64M	-63M	-89M	-373M	-263M
Income (Loss) On Equity Invest.	3M	-9M	-36M	19M	-64M
Currency Exchange Gains (Loss)	-21M	-20M	92M	89M	-100M
Other Non Operating Income (Expenses)	-270M	41M	-98M	-262M	-100M
EBT, Excl. Unusual Items	1.81B	1.72B	2.32B	1.25B	1.19B
Restructuring Charges	-	-	-	-103M	-
Merger & Related Restructuring Charges	-30M	-	-	-357M	-
Gain (Loss) On Sale Of Investments	263M	36M	5M	141M	1M
Gain (Loss) On Sale Of Assets	-21M	-4M	4M	-9M	61M
Asset Writedown	-106M	-136M	-69M	-47M	-315M
Other Unusual Items	-	-	14M	-146M	-594M
EBT, Incl. Unusual Items	1.91B	1.61B	2.27B	725M	343M
Income Tax Expense	445M	343M	481M	155M	77M
Earnings From Continuing Operations	1.47B	1.27B	1.79B	570M	266M
Earnings Of Discontinued Operations	-	-	-	-	-
Net Income to Company	1.47B	1.27B	1.79B	570M	266M
Minority Interest	-14M	-17M	-34M	-59M	-38M
Net Income - (IS)	1.45B	1.25B	1.76B	511M	228M
Net Income to Common Incl Extra Items	1.45B	1.25B	1.76B	511M	228M
Net Income to Common Excl. Extra Items	1.45B	1.25B	1.76B	511M	228M
Per Share Items
Net EPS - Basic	11.12	9.72	13.63	4	1.64
Basic EPS - Continuing Operations	11.12	9.72	13.63	4	1.64
Basic Weighted Average Shares Outstanding	131M	129M	129M	128M	139M
Net EPS - Diluted	10.98	9.63	13.49	3.99	1.64
Diluted EPS - Continuing Operations	10.98	9.63	13.49	3.99	1.64
Diluted Weighted Average Shares Outstanding	132M	130M	130M	128M	139M
Normalized Basic EPS	8.53	8.19	10.98	5.63	5.08
Normalized Diluted EPS	8.43	8.12	10.86	5.62	5.08
Dividend Per Share	1.45	1.45	1.55	-	-
Payout Ratio	12.24	14.94	10.71	40.7	-
American Depositary Receipts Ratio (ADR)	3	3	3	3	3
Supplemental Items
EBITDA	2.51B	2.15B	2.81B	2.43B	2.33B
EBITA	2.36B	1.96B	2.61B	2.19B	2.11B
EBIT	2.16B	1.77B	2.45B	1.77B	1.72B
EBITDAR	2.52B	2.17B	2.82B	2.44B	2.34B
Effective Tax Rate - (Ratio)	23.26	21.28	21.18	21.38	22.45
Total Current Taxes	418M	523M	434M	211M	240M
Total Deferred Taxes	31M	-180M	41M	-49M	-162M
Normalized Net Income	1.12B	1.06B	1.41B	720M	706M
Interest on Long-Term Debt	12M	10M	10M	6M	8M
Non-Cash Pension Expense	3M	2M	1M	1M	-1M
Supplemental Operating Expense Items
Selling and Marketing Expenses	3.36B	3.35B	3.49B	4.51B	4.3B
General and Administrative Expenses	885M	1.04B	1.21B	1.29B	1.48B
Research And Development Expense From Footnotes	981M	1.15B	1.39B	1.4B	1.55B
Net Rental Expense, Total	15M	17M	13M	10M	7M
Imputed Operating Lease Interest Expense	2.44M	1.43M	1.08M	2.18M	1.22M
Imputed Operating Lease Depreciation	12.56M	15.57M	11.92M	7.82M	5.78M
Stock-Based Comp., Other (Total)	40M	77M	50M	111M	-67M
Total Stock-Based Compensation	40M	77M	50M	111M	-67M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	1.73B	1.66B	6.21B	990M	2.16B
Total Cash And Short Term Investments	1.73B	1.66B	6.21B	990M	2.16B
Accounts Receivable, Total	2.81B	2.68B	3.29B	4.03B	4.44B
Other Receivables	334M	433M	517M	779M	795M
Total Receivables	3.14B	3.11B	3.81B	4.81B	5.24B
Inventory	1.31B	1.72B	1.95B	3.52B	2.66B
Other Current Assets, Total	13M	28M	28M	50M	128M
Total Current Assets	6.19B	6.52B	11.99B	9.37B	10.18B
Gross Property Plant And Equipment	2.48B	2.53B	2.92B	3.03B	2.9B
Accumulated Depreciation	-1.41B	-1.48B	-1.62B	-1.78B	-1.86B
Net Property Plant And Equipment	1.08B	1.06B	1.3B	1.26B	1.04B
Long-term Investments	445M	641M	383M	456M	412M
Goodwill	4.75B	4.36B	5.36B	11.57B	11.15B
Other Intangibles, Total	2.67B	2.64B	2.91B	5.98B	5.77B
Loans Receivable Long-Term	498M	443M	529M	702M	770M
Deferred Tax Assets Long-Term	423M	392M	435M	491M	494M
Other Long-Term Assets, Total	629M	626M	640M	773M	821M
Total Assets	16.68B	16.68B	23.55B	30.59B	30.64B
Liabilities
Accounts Payable, Total	1.06B	1.24B	1.28B	1.55B	1.72B
Accrued Expenses, Total	-	-	-	-	-
Current Portion of Long-Term Debt	1.2B	356M	1.63B	6.03B	9.74B
Current Portion of Leases	132M	121M	127M	109M	87M
Current Income Taxes Payable	66M	253M	72M	226M	229M
Other Current Liabilities	2.5B	3.06B	3.04B	3.81B	3.87B
Total Current Liabilities	4.96B	5.03B	6.14B	11.73B	15.64B
Long-Term Debt	5.34B	5.07B	9.51B	9.87B	3.53B
Long-Term Leases	357M	324M	311M	262M	211M
Pension & Other Post Retirement Benefits	26M	36M	7M	7M	9M
Deferred Tax Liability Non Current	552M	362M	402M	915M	745M
Other Non Current Liabilities	599M	685M	948M	1B	921M
Total Liabilities	11.83B	11.5B	17.32B	23.79B	21.06B
Common Stock, Total	569M	569M	553M	549M	604M
Additional Paid In Capital	-	-	-	-	-
Retained Earnings	8.62B	9.77B	10.5B	10.51B	12.78B
Treasury Stock	-3.42B	-3.64B	-3.73B	-3.37B	-2.72B
Comprehensive Income and Other	-921M	-1.52B	-1.1B	-897M	-1.07B
Total Common Equity	4.85B	5.18B	6.23B	6.8B	9.59B
Total Equity	4.85B	5.18B	6.23B	6.8B	9.59B
Total Liabilities And Equity	16.68B	16.68B	23.55B	30.59B	30.64B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	129M	129M	128M	128M	146M
ECS Total Common Shares Outstanding	129M	129M	128M	128M	146M
Book Value / Share	37.6	40.15	48.77	53.14	65.84
Tangible Book Value	-2.57B	-1.83B	-2.04B	-10.75B	-7.34B
Tangible Book Value Per Share	-19.95	-14.18	-15.99	-83.97	-50.39
Total Debt	7.03B	5.87B	11.58B	16.27B	13.56B
Net Debt	5.31B	4.21B	5.37B	15.28B	11.4B
Debt Equivalent of Unfunded Proj. Benefit Obligation	26M	36M	-8M	-20M	-24M
Debt Equivalent Oper. Leases	120M	136M	104M	80M	56M
Equity Method Investments, Total	257M	523M	153M	319M	276M
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Raw Materials, Total	296M	449M	660M	735M	622M
Inventories - Work In Process, Total	19M	24M	35M	27M	27M
Inventories - Finished Goods, Total	991M	1.25B	1.25B	2.75B	2.01B
Buildings, Total	442M	419M	636M	671M	679M
Machinery, Total	940M	780M	923M	958M	935M
Full Time Employees	6.28K	6.52K	7.23K	7.89K	7.16K
Assets under Capital Lease - Gross	-	-	-	-	-
Assets under Capital Lease - Accumulated Depreciation	-	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	150M	216M	181M	174M	182M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	1.45B	1.25B	1.76B	511M	228M
Depreciation & Amortization - CF	303M	330M	331M	392M	354M
Amortization of Goodwill and Intangible Assets - (CF)	199M	198M	161M	420M	392M
Depreciation & Amortization, Total	502M	528M	492M	812M	746M
Amortization of Deferred Charges, Total - (CF)	466M	503M	631M	668M	662M
(Gain) Loss From Sale Of Asset	15M	-	-11M	-9M	-
Asset Writedown & Restructuring Costs	106M	136M	69M	54M	321M
Stock-Based Compensation (CF)	39M	77M	50M	111M	-67M
Provision and Write-off of Bad Debts	10M	130M	-29M	40M	154M
Net Cash From Discontinued Operations	-	-	-	-	-
Other Operating Activities, Total	-73M	212M	-136M	-267M	156M
Change In Accounts Receivable	-456M	-189M	-610M	-393M	-490M
Change In Inventories	-336M	-471M	-137M	-1.03B	756M
Change In Accounts Payable	480M	1.03B	37M	132M	172M
Cash from Operations	2.21B	3.21B	2.11B	627M	2.64B
Capital Expenditure	-232M	-221M	-457M	-209M	-93M
Sale of Property, Plant, and Equipment	-	2M	4M	5M	17M
Cash Acquisitions	-704M	-147M	-354M	-7.26B	-36M
Divestitures	2M	1M	-	-	441M
Sale (Purchase) of Intangible assets	-715M	-872M	-1.07B	-1.46B	-1.34B
Other Investing Activities, Total	36M	-250M	110M	-255M	-131M
Cash from Investing	-1.61B	-1.49B	-1.76B	-9.18B	-1.14B
Short Term Debt Issued, Total	1.17B	-	417M	1.72B	-
Long-Term Debt Issued, Total	3.9B	-	5.13B	1.84B	254M
Total Debt Issued	5.07B	-	5.55B	3.56B	254M
Short Term Debt Repaid, Total	-	-855M	-	-	-3.27B
Long-Term Debt Repaid, Total	-2.63B	-458M	-139M	-	-
Total Debt Repaid	-2.63B	-1.31B	-139M	-	-3.27B
Issuance of Common Stock	271M	194M	159M	22M	2.67B
Repurchase of Common Stock	-1.63B	-453M	-1.17B	-	-
Common Dividends Paid	-178M	-187M	-188M	-208M	-
Common & Preferred Stock Dividends Paid	-178M	-187M	-188M	-208M	-
Other Financing Activities, Total	-409M	-12M	-30M	-30M	39M
Cash from Financing	494M	-1.77B	4.19B	3.34B	-312M
Foreign Exchange Rate Adjustments	4M	-19M	16M	-14M	-13M
Net Change in Cash	1.09B	-71M	4.55B	-5.22B	1.17B
Supplemental Items
Cash Interest Paid	302M	99M	320M	744M	428M
Cash Income Tax Paid (Refund)	483M	289M	571M	185M	175M
Levered Free Cash Flow	1.14B	1.61B	31.12M	-610M	1.36B
Unlevered Free Cash Flow	1.21B	1.65B	88M	-373M	1.56B
Change In Net Working Capital	202M	-531M	1.09B	1.4B	-578M
Net Debt Issued / Repaid	2.44B	-1.31B	5.41B	3.56B	-3.02B

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	9.09	6.62	7.61	4.09	3.51
Return on Total Capital	12.93	9.63	10.6	5.42	4.64
Return On Equity %	29.52	25.31	31.38	8.75	3.25
Return on Common Equity	29.24	24.97	30.79	7.84	2.78
Margin Analysis
Gross Profit Margin %	60.3	54.26	55.04	50.22	49.88
SG&A Margin	33.75	32.61	29.81	31.05	31.88
EBITDA Margin %	19.95	15.99	17.8	13.02	12.86
EBITA Margin %	18.75	14.61	16.54	11.74	11.64
EBIT Margin %	17.17	13.14	15.52	9.49	9.48
Income From Continuing Operations Margin %	11.67	9.44	11.35	3.05	1.47
Net Income Margin %	11.56	9.31	11.13	2.73	1.26
Net Avail. For Common Margin %	11.56	9.31	11.13	2.73	1.26
Normalized Net Income Margin	8.87	7.85	8.96	3.85	3.89
Levered Free Cash Flow Margin	9.06	11.96	0.2	-3.27	7.49
Unlevered Free Cash Flow Margin	9.61	12.27	0.56	-2	8.61
Asset Turnover
Asset Turnover	0.85	0.81	0.78	0.69	0.59
Fixed Assets Turnover	15.82	12.61	13.39	14.63	15.82
Receivables Turnover (Average Receivables)