Cash flow Medacta Group SA

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CH0468525222

Medical Equipment, Supplies & Distribution

Market Closed - Swiss Exchange Other stock markets 11:31:01 2025-01-24 am EST			5-day change	1st Jan Change
111.00 ^CHF	+0.36%		-0.36%	+4.13%

Sep. 25	Swiss Market Index Advances Ahead of SNB's Rate Decision Day	MT
Sep. 25	Medacta Group SA - Analyst/Investor Day

1d1b7e7243e3217.brHx6YRwKbEH3Q6iG1y5y14__a-vm1Su8m1IyxkvNuE.XMOSrKkcavQxjnTxSB7f-xxX0Mju0TqemRUK_HcCZYwF18eP3kUanD-6YQ

Published financial data: MEDACTA GROUP SA

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	311M	302M	363M	437M	511M
Total Revenues	311M	302M	363M	437M	511M
Cost of Goods Sold, Total	86.93M	88.24M	102M	132M	163M
Gross Profit	224M	214M	261M	305M	348M
Selling General & Admin Expenses, Total	174M	155M	183M	220M	252M
R&D Expenses	7.64M	6.83M	10.91M	15.08M	18.77M
Other Operating Expenses	-627K	-697K	-1.14M	505K	90K
Other Operating Expenses, Total	181M	161M	193M	236M	271M
Operating Income	43.09M	52.84M	67.98M	69.46M	76.51M
Interest Expense, Total	-3.36M	-3.04M	-3.44M	-3.66M	-6.83M
Interest And Investment Income	46K	144K	332K	348K	103K
Net Interest Expenses	-3.31M	-2.9M	-3.11M	-3.32M	-6.73M
Currency Exchange Gains (Loss)	-2.44M	-7.66M	1.03M	-2.98M	-10.46M
Other Non Operating Income (Expenses)	-226K	1.05M	-1.25M	-381K	1.47M
EBT, Excl. Unusual Items	37.11M	43.33M	64.66M	62.78M	60.79M
Merger & Related Restructuring Charges	-	-	-	-	-
Gain (Loss) On Sale Of Assets	-159K	-1.14M	-901K	-	-
Asset Writedown	-	-	-397K	-517K	-791K
Legal Settlements	-14.66M	840K	-7.91M	-6.85M	-524K
Other Unusual Items	-8.66M	-3.1M	-	-627K	-753K
EBT, Incl. Unusual Items	13.63M	39.93M	55.45M	54.79M	58.73M
Income Tax Expense	1.77M	2.84M	3.93M	8.54M	11.36M
Earnings From Continuing Operations	11.86M	37.09M	51.52M	46.25M	47.36M
Net Income to Company	11.86M	37.09M	51.52M	46.25M	47.36M
Net Income - (IS)	11.86M	37.09M	51.52M	46.25M	47.36M
Net Income to Common Incl Extra Items	11.86M	37.09M	51.52M	46.25M	47.36M
Net Income to Common Excl. Extra Items	11.86M	37.09M	51.52M	46.25M	47.36M
Per Share Items
Net EPS - Basic	0.59	1.85	2.58	2.32	2.37
Basic EPS - Continuing Operations	0.59	1.85	2.58	2.32	2.37
Basic Weighted Average Shares Outstanding	20M	20M	20M	19.98M	19.95M
Net EPS - Diluted	0.59	1.85	2.58	2.31	2.37
Diluted EPS - Continuing Operations	0.59	1.85	2.58	2.31	2.37
Diluted Weighted Average Shares Outstanding	20M	20M	20M	20M	19.99M
Normalized Basic EPS	1.16	1.35	2.02	1.96	1.9
Normalized Diluted EPS	1.16	1.35	2.02	1.96	1.9
Dividend Per Share	-	-	0.52	0.55	0.59
Payout Ratio	-	-	-	22.53	23.34
Supplemental Items
EBITDA	69.49M	81.95M	98.72M	107M	120M
EBITA	46.28M	56.15M	71.12M	72.68M	79.72M
EBIT	43.09M	52.84M	67.98M	69.46M	76.51M
EBITDAR	69.6M	82.08M	98.89M	107M	120M
Effective Tax Rate - (Ratio)	13.01	7.11	7.09	15.59	19.35
Total Current Taxes	-1.89M	7.18M	8.5M	7.7M	7.38M
Total Deferred Taxes	3.67M	-4.34M	-4.57M	844K	3.98M
Normalized Net Income	23.19M	27.08M	40.41M	39.24M	38M
Interest on Long-Term Debt	340K	345K	324K	496K	1.2M
Non-Cash Pension Expense	-1.21M	-1.35M	-1.43M	-1.71M	-2.82M
Supplemental Operating Expense Items
Selling and Marketing Expenses	127M	110M	133M	160M	187M
General and Administrative Expenses	46.51M	45.21M	50.94M	60.62M	65.8M
Research And Development Expense From Footnotes	7.64M	6.83M	11.31M	16.22M	20.32M
Net Rental Expense, Total	106K	122K	173K	170K	317K
Imputed Operating Lease Interest Expense	17.95K	19.59K	33.35K	32.39K	92.09K
Imputed Operating Lease Depreciation	88.05K	102K	140K	138K	225K
Stock-Based Comp., Other (Total)	-	-	468K	1.15M	2.31M
Total Stock-Based Compensation	-	-	468K	1.15M	2.31M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	27.24M	48.07M	20.4M	32.26M	20.79M
Total Cash And Short Term Investments	27.24M	48.07M	20.4M	32.26M	20.79M
Accounts Receivable, Total	48.05M	45.78M	59.44M	77.96M	94.65M
Other Receivables	7.42M	5.42M	7.86M	7.21M	6.85M
Total Receivables	55.47M	51.2M	67.29M	85.16M	101M
Inventory	102M	114M	136M	160M	214M
Prepaid Expenses	3.19M	2.95M	2.78M	3.18M	3.79M
Other Current Assets, Total	259K	1.3M	1.47M	2.75M	8.46M
Total Current Assets	188M	218M	228M	284M	348M
Gross Property Plant And Equipment	279M	298M	360M	441M	539M
Accumulated Depreciation	-122M	-145M	-180M	-223M	-271M
Net Property Plant And Equipment	157M	153M	180M	218M	267M
Goodwill	59K	59K	59K	59K	59K
Other Intangibles, Total	18.25M	16.84M	16.05M	14.35M	13.5M
Loans Receivable Long-Term	-	-	-	-	-
Deferred Tax Assets Long-Term	21.28M	21.59M	29.03M	31.66M	27.94M
Deferred Charges Long-Term	27.27M	31.89M	35.87M	35.78M	37.86M
Other Long-Term Assets, Total	456K	488K	479K	481K	712K
Total Assets	413M	442M	489M	584M	696M
Liabilities
Accounts Payable, Total	17.84M	16.48M	25.95M	28.48M	38.85M
Accrued Expenses, Total	23.65M	22.34M	27.96M	32.13M	39.81M
Current Portion of Long-Term Debt	47.5M	66.34M	64.49M	7.09M	46.92M
Current Portion of Leases	5.44M	5.4M	5.71M	6.36M	8.61M
Current Income Taxes Payable	22.8M	23.2M	6.84M	9.42M	7.44M
Unearned Revenue Current, Total	-	-	-	-	-
Other Current Liabilities	3.28M	11.06M	5.6M	5.58M	7.78M
Total Current Liabilities	121M	145M	137M	89.06M	149M
Long-Term Debt	85.38M	65.04M	49.55M	138M	116M
Long-Term Leases	14.54M	13.64M	15.47M	21.37M	32.14M
Pension & Other Post Retirement Benefits	11.14M	13.02M	12.14M	8.86M	12.58M
Deferred Tax Liability Non Current	38.65M	36.27M	39.84M	44.62M	48.7M
Other Non Current Liabilities	19.1M	4.43M	9.31M	8.33M	6.91M
Total Liabilities	289M	277M	263M	310M	366M
Common Stock, Total	1.78M	1.78M	1.78M	1.78M	1.78M
Additional Paid In Capital	21.23M	21.23M	21.23M	16.02M	10.49M
Retained Earnings	103M	139M	192M	236M	282M
Treasury Stock	-	-	-	-	-8.07M
Comprehensive Income and Other	-2.65M	2.31M	11.03M	21.14M	43.53M
Total Common Equity	123M	165M	226M	275M	330M
Total Equity	123M	165M	226M	275M	330M
Total Liabilities And Equity	413M	442M	489M	584M	696M
Supplemental Items
ECS Total Shares Outstanding on Filing Date	20M	20M	19.99M	19.96M	19.93M
ECS Total Common Shares Outstanding	20M	20M	19.99M	19.96M	19.93M
Book Value / Share	6.16	8.24	11.33	13.76	16.56
Tangible Book Value	105M	148M	210M	260M	316M
Tangible Book Value Per Share	5.25	7.39	10.52	13.04	15.88
Total Debt	153M	150M	135M	172M	204M
Net Debt	126M	102M	115M	140M	183M
Debt Equivalent of Unfunded Proj. Benefit Obligation	8.45M	10.11M	8.93M	5.46M	7.33M
Debt Equivalent Oper. Leases	848K	976K	1.38M	1.36M	2.54M
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Raw Materials, Total	15.17M	15.21M	19.13M	26.7M	36.67M
Inventories - Work In Process, Total	10.3M	11.16M	14.48M	18.05M	24.04M
Inventories - Finished Goods, Total	84.79M	87.81M	102M	116M	153M
Inventories - Others	-	-	-	-	-
Land - (BS)	7.38M	7.42M	7.73M	12.93M	15.43M
Buildings, Total	35.85M	36.3M	44.12M	48.23M	52.08M
Machinery, Total	205M	219M	270M	333M	402M
Full Time Employees	1.1K	1.18K	1.34K	1.54K	1.66K
Part Time Employees	-	-	-	-	68
Accumulated Allowance for Doubtful Accounts (Supple)	664K	988K	2.55M	2.45M	4.27M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	11.86M	37.09M	51.52M	46.25M	47.36M
Depreciation & Amortization - CF	27.58M	30.49M	32.14M	39.9M	46.63M
Amortization of Goodwill and Intangible Assets - (CF)	3.2M	3.31M	3.13M	3.23M	3.21M
Depreciation & Amortization, Total	30.78M	33.8M	35.27M	43.13M	49.84M
Amortization of Deferred Charges, Total - (CF)	2.29M	3.2M	4.76M	7.87M	7.81M
(Gain) Loss From Sale Of Asset	159K	1.14M	901K	-22K	-140K
Asset Writedown & Restructuring Costs	670K	12K	397K	517K	791K
Stock-Based Compensation (CF)	-	-	468K	1.15M	2.31M
Other Operating Activities, Total	2.14M	888K	-12.78M	13.82M	13.25M
Change In Accounts Receivable	-3.21M	718K	-13.94M	-17.74M	-19.18M
Change In Inventories	-11.68M	-13.49M	-16.79M	-20.78M	-44.09M
Change In Accounts Payable	-2.81M	-1.39M	8.52M	1.43M	8.47M
Change in Other Net Operating Assets	12.44M	-2.39M	-4.27M	-2.11M	8.7M
Cash from Operations	42.64M	59.59M	54.06M	73.51M	75.13M
Capital Expenditure	-41.47M	-27.28M	-46.49M	-58.4M	-69.66M
Sale of Property, Plant, and Equipment	9.98M	3.22M	2.57M	6.38M	7.08M
Cash Acquisitions	-875K	-	-	-220K	-
Sale (Purchase) of Real Estate properties	-	-	-	-4.75M	-1.58M
Sale (Purchase) of Intangible assets	-10.08M	-10.09M	-8.13M	-8.1M	-10.98M
Investment in Marketable and Equity Securities, Total	413K	-32K	10K	-8K	-5.46M
Cash from Investing	-42.04M	-34.19M	-52.04M	-65.11M	-80.61M
Long-Term Debt Issued, Total	-	4.34M	846K	59.16M	30.48M
Total Debt Issued	-	4.34M	846K	59.16M	30.48M
Long-Term Debt Repaid, Total	-32.2M	-10.37M	-30.82M	-42.39M	-25.64M
Total Debt Repaid	-32.2M	-10.37M	-30.82M	-42.39M	-25.64M
Issuance of Common Stock	21.23M	-	-	-	-
Repurchase of Common Stock	-	-	-1.24M	-2.92M	-3.91M
Common Dividends Paid	-	-	-	-10.42M	-11.05M
Common & Preferred Stock Dividends Paid	-	-	-	-10.42M	-11.05M
Other Financing Activities, Total	-	-	-	-	-
Cash from Financing	-10.98M	-6.03M	-31.21M	3.44M	-10.13M
Foreign Exchange Rate Adjustments	3.91M	1.45M	1.53M	15K	4.14M
Net Change in Cash	-6.47M	20.83M	-27.66M	11.86M	-11.47M
Supplemental Items
Cash Interest Paid	2.26M	1.88M	1.7M	2.3M	5.78M
Cash Income Tax Paid (Refund)	3.19M	8.5M	25.43M	8.34M	8.78M
Levered Free Cash Flow	-8.31M	27.16M	-18.48M	-7.76M	-35.12M
Unlevered Free Cash Flow	-6.21M	29.06M	-16.33M	-5.47M	-30.85M
Change In Net Working Capital	14.64M	3.59M	44.71M	34.52M	58M
Net Debt Issued / Repaid	-32.2M	-6.03M	-29.97M	16.77M	4.84M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	6.92	7.73	9.13	8.09	7.47
Return on Total Capital	10.17	11.17	12.56	10.74	9.75
Return On Equity %	11.17	25.76	26.35	18.46	15.66
Return on Common Equity	11.17	25.76	26.35	18.46	15.66
Margin Analysis
Gross Profit Margin %	72.02	70.83	71.94	69.83	68.1
SG&A Margin	55.89	51.33	50.53	50.38	49.43
EBITDA Margin %	22.37	27.09	27.18	24.47	23.42
EBITA Margin %	14.9	18.56	19.58	16.63	15.61
EBIT Margin %	13.87	17.47	18.72	15.89	14.98
Income From Continuing Operations Margin %	3.82	12.26	14.19	10.58	9.27
Net Income Margin %	3.82	12.26	14.19	10.58	9.27
Net Avail. For Common Margin %	3.82	12.26	14.19	10.58	9.27
Normalized Net Income Margin	7.47	8.95	11.13	8.98	7.44
Levered Free Cash Flow Margin	-2.67	8.98	-5.09	-1.78	-6.88
Unlevered Free Cash Flow Margin	-2	9.61	-4.5	-1.25	-6.04
Asset Turnover
Asset Turnover	0.8	0.71	0.78	0.81	0.8
Fixed Assets Turnover	2.14	1.95	2.18	2.2	2.1
Receivables Turnover (Average Receivables)	6.74	6.45	6.9	6.36	5.92
Inventory Turnover (Average Inventory)	0.91	0.82	0.81	0.89	0.87
Short Term Liquidity
Current Ratio	1.56	1.5	1.67	3.18	2.33
Quick Ratio	0.69	0.69	0.64	1.32	0.82
Operating Cash Flow to Current Liabilities	0.35	0.41	0.4	0.83	0.5
Days Sales Outstanding (Average Receivables)	54.14	56.77	52.88	57.36	61.67
Days Outstanding Inventory (Average Inventory)	400.71	447.61	448.33	410.2	419.17
Average Days Payable Outstanding	69.63	62.32	62.55	63.65	56.74
Cash Conversion Cycle (Average Days)	385.22	442.06	438.66	403.92	424.1
Long Term Solvency
Total Debt/Equity	124.04	91.32	59.73	62.78	61.74
Total Debt / Total Capital	55.36	47.73	37.39	38.57	38.17
LT Debt/Equity	81.08	47.77	28.72	57.88	44.91
Long-Term Debt / Total Capital	36.19	24.97	17.98	35.56	27.77
Total Liabilities / Total Assets	70.13	62.73	53.73	53.01	52.57
EBIT / Interest Expense	12.83	17.36	19.75	18.96	11.2
EBITDA / Interest Expense	21.99	28.46	30	30.74	18.5
(EBITDA - Capex) / Interest Expense	9.64	19.5	16.49	14.79	8.3
Total Debt / EBITDA	2.07	1.74	1.31	1.53	1.61
Net Debt / EBITDA	1.7	1.18	1.11	1.24	1.45
Total Debt / (EBITDA - Capex)	4.72	2.53	2.38	3.18	3.59
Net Debt / (EBITDA - Capex)	3.88	1.72	2.02	2.59	3.23
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	13.94	-2.62	20.04	20.38	16.85
Gross Profit, 1 Yr. Growth %	9.67	-4.22	21.93	16.85	13.95
EBITDA, 1 Yr. Growth %	-17.97	23.24	20.45	9.35	11.86
EBITA, 1 Yr. Growth %	-28.21	29.7	26.66	3.52	9.68
EBIT, 1 Yr. Growth %	-30.16	31.79	28.65	3.54	10.16
Earnings From Cont. Operations, 1 Yr. Growth %	-74.08	212.77	38.9	-10.23	2.41
Net Income, 1 Yr. Growth %	-74.08	212.77	38.9	-10.23	2.41
Normalized Net Income, 1 Yr. Growth %	-36.27	27.02	49.21	-1.52	-3.17
Diluted EPS Before Extra, 1 Yr. Growth %	-74.08	212.77	39.27	-10.34	2.6
Accounts Receivable, 1 Yr. Growth %	8.97	-4.72	29.82	31.16	21.41
Inventory, 1 Yr. Growth %	13.9	12.35	19.18	17.79	33.45
Net Property, Plant and Equip., 1 Yr. Growth %	18.47	-2.6	17.2	21.56	22.35
Total Assets, 1 Yr. Growth %	12.85	7.12	10.71	19.46	19.06
Tangible Book Value, 1 Yr. Growth %	50.06	40.88	42.27	23.75	21.61
Common Equity, 1 Yr. Growth %	38.36	33.66	37.45	21.32	20.16
Cash From Operations, 1 Yr. Growth %	-35.8	39.77	-9.28	35.98	2.2
Capital Expenditures, 1 Yr. Growth %	-8.15	-34.21	70.39	25.63