Cash flow Kerry Logistics Network Limited

Equities

636 BMG524181036

Air Freight & Logistics

Market Closed - Hong Kong S.E. Other stock markets 03:08:09 2025-02-07 am EST			5-day change	1st Jan Change
6.680 ^HKD	0.00%		+1.67%	-2.91%

Dec. 11	Kerry Logistics Network to Buy Back Perpetual Convertible Bonds For HK$744.5 Million	MT
Nov. 20	Kerry Logistics Network Limited Appoints Wong Siew Loong as Chief Commercial Officer for the Group & Managing Director for South East Asia	CI

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Published financial data: KERRY LOGISTICS NETWORK LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	41.14B	53.36B	78.95B	86.65B	47.41B
Total Revenues	41.14B	53.36B	78.95B	86.65B	47.41B
Cost of Goods Sold, Total	35.74B	47.19B	69.95B	78.3B	42.51B
Gross Profit	5.4B	6.17B	9B	8.35B	4.9B
Selling General & Admin Expenses, Total	2.84B	3.07B	3.63B	3.63B	2.71B
Other Operating Expenses, Total	2.84B	3.07B	3.63B	3.63B	2.71B
Operating Income	2.56B	3.1B	5.38B	4.72B	2.19B
Interest Expense, Total	-358M	-303M	-251M	-393M	-577M
Interest And Investment Income	74.98M	59.12M	48.96M	72.79M	70.03M
Net Interest Expenses	-283M	-244M	-202M	-320M	-507M
Income (Loss) On Equity Invest.	85.53M	118M	158M	167M	195M
EBT, Excl. Unusual Items	2.36B	2.97B	5.33B	4.57B	1.88B
Impairment of Goodwill	-41.85M	-	-130M	-	-
Gain (Loss) On Sale Of Investments	46.67M	19.88M	54.47M	425M	-12.9M
Gain (Loss) On Sale Of Assets	2.08B	60.57M	7.77M	86.46M	2.36M
Asset Writedown	483M	1.07B	299M	9.32M	10.5M
Other Unusual Items	-	118M	-	-14.15M	13.7M
EBT, Incl. Unusual Items	4.93B	4.24B	5.56B	5.08B	1.89B
Income Tax Expense	589M	773M	1.3B	1.26B	464M
Earnings From Continuing Operations	4.34B	3.47B	4.27B	3.82B	1.43B
Earnings Of Discontinued Operations	-	-	4.77B	-	-837M
Net Income to Company	4.34B	3.47B	9.03B	3.82B	593M
Minority Interest	-551M	-574M	-1.09B	-241M	198M
Net Income - (IS)	3.79B	2.9B	7.94B	3.58B	791M
Preferred Dividend and Other Adjustments	-	-	-	-	12.87M
Net Income to Common Incl Extra Items	3.79B	2.9B	7.94B	3.58B	778M
Net Income to Common Excl. Extra Items	3.79B	2.9B	3.17B	3.58B	1.61B
Per Share Items
Net EPS - Basic	2.21	1.63	4.4	1.98	0.43
Basic EPS - Continuing Operations	2.21	1.63	1.76	1.98	0.89
Basic Weighted Average Shares Outstanding	1.71B	1.78B	1.8B	1.81B	1.81B
Net EPS - Diluted	2.21	1.63	4.4	1.98	0.21
Diluted EPS - Continuing Operations	2.21	1.63	1.76	1.98	0.67
Diluted Weighted Average Shares Outstanding	1.72B	1.78B	1.81B	1.81B	1.84B
Normalized Basic EPS	0.54	0.72	1.24	1.45	0.76
Normalized Diluted EPS	0.54	0.72	1.24	1.45	0.75
Dividend Per Share	0.27	0.35	0.71	0.66	0.22
Payout Ratio	11.31	17.96	10.21	39.39	109
American Depositary Receipts Ratio (ADR)	10	10	10	10	10
Supplemental Items
EBITDA	3.52B	4.13B	6.41B	5.67B	3.13B
EBITA	2.7B	3.24B	5.52B	4.88B	2.36B
EBIT	2.56B	3.1B	5.38B	4.72B	2.19B
EBITDAR	4.28B	4.48B	6.67B	6.26B	3.69B
Effective Tax Rate - (Ratio)	11.95	18.22	23.35	24.74	24.51
Total Current Taxes	609M	730M	1.34B	1.24B	525M
Total Deferred Taxes	-18.36M	71.6M	111M	39.59M	-49.72M
Normalized Net Income	926M	1.29B	2.24B	2.62B	1.37B
Interest on Long-Term Debt	112M	110M	129M	93.61M	96.74M
Non-Cash Pension Expense	1.7M	1.88M	876K	991K	1.4M
Supplemental Operating Expense Items
General and Administrative Expenses	2.84B	3.07B	3.63B	3.63B	2.71B
Net Rental Expense, Total	763M	349M	259M	598M	567M
Imputed Operating Lease Interest Expense	199M	65.76M	43.74M	172M	231M
Imputed Operating Lease Depreciation	564M	283M	215M	426M	336M
Stock-Based Comp., Other (Total)	-	-	-	-	69.16M
Total Stock-Based Compensation	-	-	-	-	69.16M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	5.83B	8.47B	9.08B	9.24B	6.52B
Short Term Investments	2.09B	2.15B	2.92B	2.24B	2.56B
Trading Asset Securities, Total	120M	122M	800M	38.14M	389K
Total Cash And Short Term Investments	8.03B	10.74B	12.81B	11.52B	9.08B
Accounts Receivable, Total	7.98B	9.83B	12.85B	10.2B	8.57B
Other Receivables	24.85M	10.2M	63.97M	722M	480M
Notes Receivable	-	-	-	-	4.6M
Total Receivables	8.01B	9.84B	12.91B	10.92B	9.05B
Inventory	505M	405M	375M	482M	411M
Prepaid Expenses	435M	729M	911M	971M	794M
Other Current Assets, Total	20.62M	14.14M	11.75M	12.38M	12.84M
Total Current Assets	17B	21.73B	27.01B	23.9B	19.35B
Gross Property Plant And Equipment	20.18B	21.1B	14.73B	14.27B	12.29B
Accumulated Depreciation	-4.86B	-4.64B	-2.86B	-3.18B	-2.76B
Net Property Plant And Equipment	15.33B	16.46B	11.87B	11.09B	9.53B
Long-term Investments	1.63B	2.24B	2.84B	2.19B	2.15B
Goodwill	3.88B	4.02B	3.65B	4.94B	5.03B
Other Intangibles, Total	884M	750M	649M	920M	753M
Loans Receivable Long-Term	80.66M	83.18M	20.73M	9.02M	-
Deferred Tax Assets Long-Term	73.88M	98.48M	156M	463M	381M
Other Long-Term Assets, Total	10.32B	11.51B	1.95B	1.82B	4.92B
Total Assets	49.2B	56.9B	48.16B	45.33B	42.12B
Liabilities
Accounts Payable, Total	3.96B	5.06B	6.27B	4.53B	4.31B
Accrued Expenses, Total	1.31B	1.41B	2.83B	4.16B	3.28B
Short-term Borrowings	234M	221M	199M	83.8M	62.54M
Current Portion of Long-Term Debt	1.95B	3.94B	3.68B	2.23B	3.26B
Current Portion of Leases	962M	1.01B	1.38B	1.2B	927M
Current Income Taxes Payable	411M	436M	752M	493M	364M
Unearned Revenue Current, Total	-	-	-	-	174M
Other Current Liabilities	2.15B	2.83B	2.73B	2.45B	2.28B
Total Current Liabilities	10.98B	14.91B	17.84B	15.15B	14.65B
Long-Term Debt	6.4B	5.3B	2.47B	6.8B	5.51B
Long-Term Leases	2.55B	3.18B	2.38B	1.45B	1.1B
Pension & Other Post Retirement Benefits	124M	143M	50.03M	52.11M	20.26M
Deferred Tax Liability Non Current	656M	744M	406M	614M	732M
Other Non Current Liabilities	1.42B	142M	177M	24.1M	-
Total Liabilities	22.13B	24.42B	23.33B	24.08B	22.01B
Common Stock, Total	858M	899M	904M	904M	904M
Additional Paid In Capital	3.24B	3.96B	4.07B	4.07B	4.07B
Retained Earnings	20.52B	22.65B	15.91B	13.45B	17.97B
Comprehensive Income and Other	-1.6B	-31.2M	157M	-	-5.37B
Total Common Equity	23.01B	27.48B	21.04B	18.43B	17.59B
Minority Interest	4.06B	5B	3.79B	2.82B	2.52B
Total Equity	27.07B	32.48B	24.84B	21.25B	20.11B
Total Liabilities And Equity	49.2B	56.9B	48.16B	45.33B	42.12B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	1.72B	1.8B	1.81B	1.81B	1.81B
ECS Total Common Shares Outstanding	1.72B	1.8B	1.81B	1.81B	1.81B
Book Value / Share	13.41	15.29	11.64	10.2	9.3
Tangible Book Value	18.25B	22.71B	16.74B	12.57B	11.8B
Tangible Book Value Per Share	10.63	12.64	9.26	6.96	6.1
Total Debt	12.09B	13.66B	10.1B	11.76B	10.86B
Net Debt	4.05B	2.92B	-2.7B	246M	1.78B
Debt Equivalent of Unfunded Proj. Benefit Obligation	124M	143M	50.03M	52.11M	20.26M
Debt Equivalent Oper. Leases	6.11B	2.79B	2.07B	4.78B	4.54B
Minority Interest, Total (Incl. Fin. Div)	4.06B	5B	3.79B	2.82B	2.52B
Equity Method Investments, Total	1.29B	1.88B	2.25B	1.63B	1.68B
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Finished Goods, Total	505M	405M	375M	482M	411M
Land - (BS)	4.76B	4.91B	1.86B	1.88B	1.91B
Buildings, Total	2.2B	2.53B	2.71B	3.01B	3.2B
Machinery, Total	5.45B	5.88B	4.03B	4.32B	2.94B
Full Time Employees	47.2K	42.37K	51.4K	43.9K	33.1K
Accumulated Allowance for Doubtful Accounts (Supple)	218M	293M	344M	358M	336M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	3.79B	2.9B	7.94B	3.58B	791M
Depreciation & Amortization - CF	1.79B	2.01B	2.12B	2.05B	2.01B
Amortization of Goodwill and Intangible Assets - (CF)	135M	139M	142M	157M	169M
Depreciation & Amortization, Total	1.92B	2.15B	2.26B	2.21B	2.18B
Amortization of Deferred Charges, Total - (CF)	-	-	-	-	-
(Gain) Loss From Sale Of Asset	-2.08B	-60.57M	-2.2B	-86.46M	-3.42M
(Gain) Loss on Sale of Investments - (CF)	-46.67M	-19.88M	-54.47M	-425M	255K
Asset Writedown & Restructuring Costs	-441M	-1.07B	-2.14B	-9.32M	-10.5M
(Income) Loss On Equity Investments - (CF)	-85.53M	-118M	-159M	-167M	-195M
Stock-Based Compensation (CF)	-	-	-	-	69.16M
Provision and Write-off of Bad Debts	90.61M	96.46M	107M	107M	77.09M
Net Cash From Discontinued Operations	-	-	-	-	-18.23M
Other Operating Activities, Total	575M	580M	1.69B	-667M	-271M
Change In Inventories	-677M	-2.22B	-5.02B	5.14B	1.2B
Change in Other Net Operating Assets	156M	2.09B	3.35B	-4.3B	-870M
Cash from Operations	3.2B	4.33B	5.77B	5.38B	2.95B
Capital Expenditure	-1.68B	-1.27B	-1.64B	-1.61B	-761M
Sale of Property, Plant, and Equipment	191M	90.67M	167M	119M	86.47M
Cash Acquisitions	-638M	-127M	-265M	-1.13B	-1.04B
Divestitures	3.65B	90.61M	13.62B	-	96.09M
Sale (Purchase) of Real Estate properties	-9.35M	-41.02M	-	-3.33M	-20.71M
Sale (Purchase) of Intangible assets	-	-	-	-	-4.43M
Investment in Marketable and Equity Securities, Total	286M	-531M	-1.14B	1.88B	121M
Other Investing Activities, Total	127M	203M	55.8M	170M	-222M
Cash from Investing	1.93B	-1.58B	10.8B	-574M	-1.75B
Long-Term Debt Issued, Total	7.91B	6.86B	6.62B	9.23B	8.13B
Total Debt Issued	7.91B	6.86B	6.62B	9.23B	8.13B
Long-Term Debt Repaid, Total	-10.29B	-7.34B	-7.85B	-7.57B	-9.65B
Total Debt Repaid	-10.29B	-7.34B	-7.85B	-7.57B	-9.65B
Issuance of Common Stock	118M	78.68M	103M	1.17M	774M
Repurchase of Common Stock	-	-32.5M	-	-	-76.5M
Common Dividends Paid	-428M	-520M	-810M	-1.41B	-862M
Common & Preferred Stock Dividends Paid	-428M	-520M	-810M	-1.41B	-862M
Special Dividend Paid	-600M	-248M	-13.16B	-	-
Other Financing Activities, Total	-403M	949M	-626M	-4.4B	-2.01B
Cash from Financing	-3.7B	-256M	-15.72B	-4.15B	-3.69B
Foreign Exchange Rate Adjustments	49.08M	169M	-221M	-392M	-35.12M
Net Change in Cash	1.48B	2.66B	635M	272M	-2.53B
Supplemental Items
Cash Interest Paid	246M	193M	161M	299M	499M
Cash Income Tax Paid (Refund)	602M	699M	921M	2.2B	394M
Levered Free Cash Flow	1.75B	2.5B	3.47B	4.17B	3.38B
Unlevered Free Cash Flow	1.97B	2.69B	3.62B	4.41B	3.74B
Change In Net Working Capital	-133M	130M	361M	-867M	-886M
Net Debt Issued / Repaid	-2.39B	-483M	-1.23B	1.66B	-1.52B

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	3.47	3.65	6.4	6.31	3.13
Return on Total Capital	4.4	4.54	8.29	8.69	4.28
Return On Equity %	17.1	11.65	14.88	16.58	6.91
Return on Common Equity	17.6	11.47	13.08	18.13	8.97
Margin Analysis
Gross Profit Margin %	13.13	11.57	11.4	9.64	10.34
SG&A Margin	6.91	5.76	4.59	4.19	5.72
EBITDA Margin %	8.55	7.74	8.11	6.54	6.59
EBITA Margin %	6.55	6.07	6.99	5.63	4.98
EBIT Margin %	6.22	5.81	6.81	5.45	4.62
Income From Continuing Operations Margin %	10.55	6.5	5.4	4.41	3.02
Net Income Margin %	9.21	5.43	10.05	4.13	1.67
Net Avail. For Common Margin %	9.21	5.43	4.02	4.13	3.41
Normalized Net Income Margin	2.25	2.41	2.84	3.02	2.9
Levered Free Cash Flow Margin	4.25	4.69	4.39	4.81	7.13
Unlevered Free Cash Flow Margin	4.8	5.04	4.59	5.09	7.89
Asset Turnover
Asset Turnover	0.89	1.01	1.5	1.85	1.08
Fixed Assets Turnover	3.2	3.36	5.57	7.55	4.6
Receivables Turnover (Average Receivables)	5.3	5.99	6.96	7.52	5.05
Inventory Turnover (Average Inventory)	76.86	103.76	179.44	182.77	95.22
Short Term Liquidity
Current Ratio	1.55	1.46	1.51	1.58	1.32
Quick Ratio	1.46	1.38	1.44	1.48	1.24
Operating Cash Flow to Current Liabilities	0.29	0.29	0.32	0.36	0.2
Days Sales Outstanding (Average Receivables)	68.83	61.1	52.43	48.54	72.24
Days Outstanding Inventory (Average Inventory)	4.75	3.53	2.03	2	3.83
Average Days Payable Outstanding	39.07	35.07	29.59	25.15	38.03
Cash Conversion Cycle (Average Days)	34.51	29.56	24.87	25.38	38.05
Long Term Solvency
Total Debt/Equity