Income Statement Neoen

Equities

NEOEN

FR0011675362

Independent Power Producers

Market Closed - Euronext Paris Other stock markets 11:35:02 2024-09-09 am EDT			5-day change	1st Jan Change
38.84 ^EUR	+0.26%		+0.41%	+28.27%

Aug. 27	Neoen Begins Second Phase of Australian Battery Capacity Project	MT
Aug. 27	Neoen: virtual battery contract with AGL Energy	CF

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Published financial data: NEOEN

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues - (Utility Template)	247M	294M	324M	481M	502M
Other Revenues, Total	5.8M	5M	9.6M	22.5M	22.3M
Total Revenues	253M	299M	334M	503M	524M
Operations And Maintenance	17.2M	22.7M	26M	35.9M	49.6M
Selling General & Admin Expenses, Total	41.9M	51.2M	60M	99.4M	97.8M
Depreciation & Amortization - (IS) - (Collected)	80.2M	110M	108M	-	176M
Amortization of Goodwill and Intangible Assets - (IS)	-	-	-	151M	-
Other Operating Expenses	-21.5M	-44.8M	-49.4M	-44.6M	-127M
Total Operating Expenses	118M	139M	144M	242M	196M
Operating Income (REIT / Utility Template)	135M	160M	189M	262M	328M
Interest Expense, Total	-68.7M	-82.4M	-83.4M	-137M	-186M
Interest and Investment Income	-	-	-	-	-
Net Interest Expenses	-68.7M	-82.4M	-83.4M	-137M	-186M
Income (Loss) on Equity Invest.	700K	700K	300K	500K	-
Currency Exchange Gains (Loss)	300K	-9.4M	-4.3M	-6.9M	-7.4M
Other Non Operating Income (Expenses)	-24.7M	-25.9M	-30.1M	-7.7M	40.9M
EBT, Excl. Unusual Items	43M	42.9M	71.9M	111M	176M
Total Merger & Related Restructuring Charges	-	-	-	-	-
Gain (Loss) on Sale of Assets	-	-	-	-	48.6M
Asset Writedown	1.5M	-14.1M	-10.4M	-27.3M	-10.5M
Insurance Settlements	-	-	-	-	6.5M
Other Unusual Items	400K	-4M	-8M	-5.2M	-8.5M
EBT, Incl. Unusual Items	44.9M	24.8M	53.5M	78.3M	212M
Income Tax Expense	23.7M	21.4M	13.3M	32.6M	64.2M
Earnings From Continuing Operations	21.2M	3.4M	40.2M	45.7M	147M
Earnings Of Discontinued Operations	16.7M	-	-	-	-
Net Income to Company	37.9M	3.4M	40.2M	45.7M	147M
Minority Interest	-1.9M	500K	800K	-500K	2.8M
Net Income - (IS)	36M	3.9M	41M	45.2M	150M
Net Income to Common Incl Extra Items	36M	3.9M	41M	45.2M	150M
Net Income to Common Excl. Extra Items	19.3M	3.9M	41M	45.2M	150M
Per Share Items
Net EPS - Basic	0.42	0.05	0.43	0.41	1.13
Basic EPS - Continuing Operations	0.23	0.05	0.43	0.41	1.13
Basic Weighted Average Shares Outstanding	84.85M	85.21M	96.2M	111M	133M
Net EPS - Diluted	0.4	0.04	0.38	0.37	1.04
Diluted EPS - Continuing Operations	0.22	0.04	0.38	0.37	1.04
Diluted Weighted Average Shares Outstanding	89.46M	94.66M	108M	122M	144M
Normalized Basic EPS	0.29	0.32	0.48	0.62	0.84
Normalized Diluted EPS	0.28	0.29	0.42	0.56	0.78
Dividend Per Share	-	-	0.1	0.12	0.15
Payout Ratio	-	-	-	4.65	2.06
Supplemental Items
Utility Revenues	247M	294M	324M	481M	502M
Non Utility Revenues	5.9M	5M	9.6M	22.5M	22.3M
EBITDA	213M	263M	298M	401M	491M
EBITA	137M	162M	192M	264M	331M
EBIT	135M	160M	189M	262M	328M
EBITDAR	213M	-	-	-	-
Total Revenues (As Reported)	253M	299M	334M	503M	524M
Effective Tax Rate - (Ratio)	52.78	86.29	24.86	41.63	30.34
Total Current Taxes	15.3M	14.5M	14.6M	22.6M	22.2M
Total Deferred Taxes	8.4M	6.9M	-1.4M	10M	41.9M
Normalized Net Income	24.98M	27.31M	45.74M	68.75M	112M
Interest Capitalized	-	-	-	-	-
Interest on Long-Term Debt	4M	5.2M	5.4M	6.8M	9.1M
Supplemental Operating Expense Items
Research And Development Expense From Footnotes	2M	2.6M	8.1M	18.4M	4.9M
Net Rental Expense, Total	86.41K	-	-	-	-
Imputed Operating Lease Interest Expense	23.14K	-	-	-	-
Imputed Operating Lease Depreciation	63.27K	-	-	-	-
Maintenance & Repair Expenses, Total	17.2M	22.7M	26M	35.9M	49.6M
Stock-Based Comp., Other (Total)	3.8M	4.9M	3.2M	3.8M	4.2M
Total Stock-Based Compensation	3.8M	4.9M	3.2M	3.8M	4.2M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	460M	375M	593M	623M	774M
Trading Asset Securities, Total	-	-	-	31.1M	35.2M
Accounts Receivable, Total	57.6M	80.9M	83.6M	139M	115M
Other Receivables	98.1M	96.8M	105M	65.9M	108M
Accounts Receivable (Summary Subtotal)	156M	178M	189M	205M	223M
Inventory - (Utility Template)	700K	4.7M	8.7M	10.6M	9.8M
Prepaid Expenses	7.7M	7.8M	8.2M	9.8M	8.1M
Other Current Assets, Total	100K	-	-	31.6M	54M
Total Current Assets	625M	565M	798M	911M	1.1B
Gross Property Plant And Equipment	2.66B	3.22B	4.18B	5.22B	6.18B
Accumulated Depreciation	-274M	-379M	-502M	-649M	-761M
Net Property Plant And Equipment	2.39B	2.84B	3.68B	4.57B	5.42B
Goodwill	700K	700K	700K	700K	700K
Other Intangibles, Total	79.2M	73.2M	102M	96.5M	99.1M
Long-Term Investments - (Utility Template)	9.4M	9.8M	50.8M	301M	200M
Loans Receivable Long-Term - (Utility Template)	11.6M	13M	12.1M	15.9M	89.4M
Deferred Tax Assets Long-Term (Collected)	55.6M	62.2M	58.3M	56.8M	77.9M
Deferred Charges Long-Term	104M	136M	167M	194M	248M
Other Long-Term Assets, Total	113M	78.9M	78.1M	131M	159M
Total Assets	3.39B	3.78B	4.95B	6.27B	7.4B
Liabilities
Accounts Payable, Total	27.4M	33.2M	51.6M	60.3M	58M
Accrued Expenses, Total	7.3M	10.1M	11.7M	13.1M	15.2M
Current Portion of Long-Term Debt	154M	300M	445M	392M	307M
Current Portion of Leases	6.2M	7.1M	7.7M	6.9M	11.4M
Current Income Taxes Payable	28.2M	27.4M	27.4M	35.6M	31M
Unearned Revenue, Current	21.3M	18.6M	15.8M	15.1M	14.7M
Other Current Liabilities - (Bank / Utility Template)	109M	164M	318M	366M	440M
Total Current Liabilities	354M	560M	877M	890M	877M
Long-Term Debt	2.12B	2.28B	2.29B	2.85B	3.18B
Long-Term Leases	130M	161M	212M	258M	303M
Deferred Tax Liability Non-Current	49.6M	53.3M	85.7M	194M	226M
Other Non Current Liabilities, Total	47.9M	79.8M	108M	166M	149M
Total Liabilities	2.71B	3.14B	3.57B	4.36B	4.74B
Common Stock, Total	170M	171M	214M	229M	304M
Additional Paid In Capital	501M	502M	1.05B	1.25B	1.93B
Retained Earnings	36M	3.9M	41M	45.2M	150M
Treasury Stock	-3.8M	-400K	-3.1M	-3.2M	-3.2M
Comprehensive Income and Other	-42.4M	-40.1M	59.3M	375M	268M
Total Common Equity	661M	637M	1.36B	1.89B	2.65B
Minority Interest	19.5M	4.8M	9.2M	20.5M	13M
Total Equity	680M	642M	1.37B	1.91B	2.66B
Total Liabilities And Equity	3.39B	3.78B	4.95B	6.27B	7.4B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	84.89M	85.54M	107M	115M	152M
ECS Total Common Shares Outstanding	84.89M	85.54M	107M	115M	152M
Book Value / Share	7.79	7.44	12.77	16.54	17.47
Tangible Book Value	581M	563M	1.26B	1.8B	2.55B
Tangible Book Value Per Share	6.85	6.58	11.81	15.69	16.81
Total Debt	2.41B	2.75B	2.95B	3.51B	3.8B
Net Debt	1.95B	2.37B	2.36B	2.86B	3B
Debt Equivalent Oper. Leases	691K	-	-	-	-
Minority Interest, Total (Incl. Fin. Div)	19.5M	4.8M	9.2M	20.5M	13M
Equity Method Investments, Total	6.9M	7.3M	16.6M	24.4M	15.6M
Account Code - Inventory Valuation	3	3	3	3	3
Inventories - Finished Goods, Total	700K	4.7M	-	-	-
Inventories - Others	-	-	-	-	-
Full Time Employees	211	232	288	169.1	186
Accumulated Allowance for Doubtful Accounts (Supple)	-	-	-	-	-

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	36M	3.9M	41M	45.2M	150M
Depreciation, Depletion & Amortization	80.5M	107M	113M	146M	170M
Amortization of Goodwill and Intangible Assets - (CF)	1.3M	1.8M	2.4M	2.6M	3.1M
Total Depreciation, Depletion & Amortization	81.8M	108M	115M	148M	173M
Amortization of Deferred Charges, Total	2M	2.6M	2.4M	2.7M	3.2M
(Gain) Loss On Sale of Asset - (CF)	3.1M	4.1M	-42M	-12.5M	-40.1M
(Income) Loss On Equity Investments - (CF)	-700K	-700K	-300K	-500K	-
Stock-Based Compensation (CF)	3.8M	4.9M	3.2M	3.8M	4.2M
Change in Accounts Receivable	-	-	-	-	-
Change In Inventories	-	-	-	-	-
Change in Accounts Payable	-	-	-	-	-
Change in Other Net Operating Assets (Collected)	-44.5M	-11.3M	44.3M	81.6M	-91M
Other Operating Activities	103M	110M	112M	188M	125M
Cash from Operations	184M	222M	276M	457M	325M
Capital Expenditure	-764M	-530M	-754M	-1.11B	-1.05B
Sale of Property, Plant, and Equipment	200K	100K	200K	1.1M	1.8M
Cash Acquisitions	-36.5M	-11M	-32.2M	-15.6M	-28.5M
Divestitures	10.6M	-	72.1M	26.2M	77.9M
Investment in Marketable and Equity Securities, Total	-23.2M	37.3M	3.2M	-15.4M	-83.9M
Other Investing Activities, Total	600K	900K	2M	1.2M	700K
Cash from Investing	-812M	-502M	-709M	-1.11B	-1.08B
Long-Term Debt Issued, Total	907M	794M	419M	1.19B	516M
Total Debt Issued	907M	794M	419M	1.19B	516M
Long-Term Debt Repaid, Total	-268M	-528M	-272M	-439M	-207M
Total Debt Repaid	-268M	-528M	-272M	-439M	-207M
Issuance of Common Stock	19.9M	27M	600M	48.1M	742M
Repurchase of Common Stock	-3.1M	-4.1M	-12.1M	-2.1M	-6.9M
Common Dividends Paid	-	-	-	-2.1M	-3.1M
Common & Preferred Stock Dividends Paid	-	-	-	-2.1M	-3.1M
Other Financing Activities, Total	-74.2M	-85.4M	-91.6M	-116M	-128M
Cash from Financing	582M	204M	644M	681M	913M
Foreign Exchange Rate Adjustments	2.8M	-9.5M	7.3M	9.4M	-4.2M
Miscellaneous Cash Flow Adjustments	100K	-	-	-3.8M	-
Net Change in Cash	-43.3M	-85.6M	218M	30.2M	155M
Supplemental Items
Cash Interest Paid	72M	74.6M	81.3M	108M	127M
Cash Income Tax Paid (Refund)	10.4M	18.1M	10.6M	17.2M	19.8M
Net Debt Issued / Repaid	639M	266M	147M	753M	309M
Levered Free Cash Flow	-697M	-331M	-411M	-864M	-747M
Unlevered Free Cash Flow	-654M	-280M	-359M	-779M	-631M
Change In Net Working Capital	62.5M	-33.9M	-156M	-14.4M	-30.1M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	2.84	2.79	2.71	2.91	3
Return on Total Capital	3.11	3.08	3.07	3.35	3.45
Return On Equity %	3.17	0.51	3.99	2.78	6.44
Return on Common Equity	2.96	0.6	4.1	2.77	6.61
Margin Analysis
Gross Profit Margin %	92.93	93.37	92.96	92.43	89.61
SG&A Margin	16.55	17.14	17.99	19.75	18.65
EBITDA Margin %	84.2	88.02	89.39	79.75	93.57
EBITA Margin %	53.99	54.12	57.49	52.48	63.16
EBIT Margin %	53.48	53.51	56.77	51.97	62.57
Income From Continuing Operations Margin %	8.37	1.14	12.05	9.08	28.11
Net Income Margin %	14.22	1.31	12.29	8.98	28.64
Net Avail. For Common Margin %	7.62	1.31	12.29	8.98	28.64
Normalized Net Income Margin	9.86	9.14	13.71	13.66	21.45
Levered Free Cash Flow Margin	-275.36	-110.9	-123.25	-171.71	-142.44
Unlevered Free Cash Flow Margin	-258.4	-93.66	-107.62	-154.74	-120.26
Asset Turnover
Asset Turnover	0.09	0.08	0.08	0.09	0.08
Fixed Assets Turnover	0.12	0.11	0.1	0.12	0.1
Receivables Turnover (Average Receivables)	4.98	4.24	3.94	3.65	4.53
Inventory Turnover (Average Inventory)	35.8	7.33	3.51	3.95	5.34
Short Term Liquidity
Current Ratio	1.77	1.01	0.91	1.02	1.26
Quick Ratio	1.74	0.99	0.89	0.97	1.18
Operating Cash Flow to Current Liabilities	0.52	0.4	0.31	0.51	0.37
Days Sales Outstanding (Average Receivables)	73.32	86.27	92.66	100.11	80.62
Days Outstanding Inventory (Average Inventory)	10.2	49.91	104.06	92.45	68.31
Average Days Payable Outstanding	530.55	465.96	562.76	510.54	402.04
Cash Conversion Cycle (Average Days)	-447.03	-329.78	-366.04	-317.98	-253.11
Long Term Solvency
Total Debt/Equity	354.83	428.52	214.95	183.33	142.76
Total Debt / Total Capital	78.01	81.08	68.25	64.71	58.81
LT Debt/Equity	331.26	380.72	182.03	162.48	130.8
Long-Term Debt / Total Capital