Cash flow Net Holding

Equities

NTHOL

TRANTHOL91Q6

Casinos & Gaming

Market Closed - Borsa Istanbul Other stock markets 10:09:46 2024-12-06 am EST			5-day change	1st Jan Change
49.04 ^TRY	+4.88%		+6.84%	+153.83%

Nov. 11	Net Holding A.S. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2024	CI
Sep. 30	Net Holding A.S. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2024	CI

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Published financial data: NET HOLDING

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	923M	422M	1.01B	3.38B	9.49B
Other Revenues, Total	-	-	-	-	-
Total Revenues	923M	422M	1.01B	3.38B	9.49B
Cost of Goods Sold, Total	653M	413M	643M	2.16B	5.73B
Gross Profit	270M	8.11M	369M	1.22B	3.76B
Selling General & Admin Expenses, Total	123M	77.74M	143M	284M	1.58B
Other Operating Expenses	4.38M	98.15M	119M	106M	188M
Other Operating Expenses, Total	127M	176M	262M	391M	1.76B
Operating Income	143M	-168M	107M	826M	2B
Interest Expense, Total	-156M	-165M	-226M	-331M	-718M
Interest And Investment Income	300M	86.1M	2.51B	3.07B	2.54B
Net Interest Expenses	144M	-78.86M	2.28B	2.74B	1.82B
Income (Loss) On Equity Invest.	-192K	-841K	-2.83M	-	-
Currency Exchange Gains (Loss)	-101M	-301M	-998M	-768M	-2.46B
Other Non Operating Income (Expenses)	-8.83M	-11.21M	-19.19M	-31M	3.5B
EBT, Excl. Unusual Items	176M	-560M	1.37B	2.76B	4.85B
Gain (Loss) On Sale Of Investments	-8.92M	-816K	-2.52M	-97.45M	-20.34M
Insurance Settlements	1.38M	784K	1.27M	3.39M	6.06M
EBT, Incl. Unusual Items	169M	-560M	1.37B	2.67B	4.84B
Income Tax Expense	79.91M	-75.84M	353M	-268M	2.12B
Earnings From Continuing Operations	88.92M	-484M	1.01B	2.94B	2.72B
Earnings Of Discontinued Operations	-1.36M	-234K	-	-	-
Net Income to Company	87.56M	-484M	1.01B	2.94B	2.72B
Minority Interest	-11.13M	-5.26M	-105M	-276M	-490M
Net Income - (IS)	76.43M	-490M	910M	2.66B	2.23B
Net Income to Common Incl Extra Items	76.43M	-490M	910M	2.66B	2.23B
Net Income to Common Excl. Extra Items	77.79M	-489M	910M	2.66B	2.23B
Per Share Items
Net EPS - Basic	0.21	-1.43	1.93	5.61	3.96
Basic EPS - Continuing Operations	0.21	-1.43	1.93	5.61	3.96
Basic Weighted Average Shares Outstanding	367M	342M	472M	475M	-
Net EPS - Diluted	0.21	-1.43	1.93	5.61	3.96
Diluted EPS - Continuing Operations	0.21	-1.43	1.93	5.61	3.96
Diluted Weighted Average Shares Outstanding	367M	342M	472M	475M	-
Normalized Basic EPS	0.27	-1.04	1.59	3.06	4.51
Normalized Diluted EPS	0.27	-1.04	1.59	3.06	4.51
Payout Ratio	16.16	-0.94	3.52	0.55	0.96
Supplemental Items
EBITDA	275M	-19.57M	256M	1.13B	3.49B
EBITA	144M	-167M	107M	826M	2B
EBIT	143M	-168M	107M	826M	2B
EBITDAR	275M	-18.85M	257M	1.13B	3.49B
Effective Tax Rate - (Ratio)	47.33	13.55	25.79	-10.04	43.8
Current Domestic Taxes	-	969K	1.77M	8M	11.85M
Current Foreign Taxes	-	3.65M	5.29M	13.5M	195K
Total Current Taxes	35.42M	4.62M	7.05M	21.5M	12.05M
Deferred Domestic Taxes	-	-7.78M	15.69M	57.71M	-2.67M
Deferred Foreign Taxes	-	-72.68M	330M	-347M	2.11B
Total Deferred Taxes	44.48M	-80.46M	346M	-290M	2.11B
Normalized Net Income	99.1M	-355M	751M	1.45B	2.54B
Non-Cash Pension Expense	-	-	-	-	-
Supplemental Operating Expense Items
Advertising Expense	19.88M	13.3M	24.28M	55.53M	119M
Marketing Expenses	8.11M	4.13M	5.42M	12.66M	29.89M
Selling and Marketing Expenses	27.99M	17.43M	29.7M	68.19M	149M
General and Administrative Expenses	94.69M	60.3M	113M	216M	1.43B
Net Rental Expense, Total	584K	721K	980K	1.3M	1.12M
Imputed Operating Lease Interest Expense	565K	533K	645K	1.01M	1.16M
Imputed Operating Lease Depreciation	19.63K	189K	335K	291K	-40.54K
Maintenance & Repair Expenses, Total	16.23M	10.03M	15.42M	58.37M	36.44M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	434M	333M	1.21B	1.11B	2.04B
Short Term Investments	66.22M	78.7M	260K	-	168K
Trading Asset Securities, Total	-	-	-	916K	693K
Total Cash And Short Term Investments	500M	411M	1.21B	1.11B	2.05B
Accounts Receivable, Total	196M	133M	215M	202M	121M
Other Receivables	2.24M	2.77M	4.4M	6.12M	147M
Notes Receivable	1.35M	1.17M	-	-	-
Total Receivables	200M	137M	219M	209M	268M
Inventory	39.44M	36.14M	59.89M	153M	311M
Prepaid Expenses	40.81M	37.29M	43.63M	174M	392M
Other Current Assets, Total	31.29M	34.98M	56.06M	95.14M	205M
Total Current Assets	812M	656M	1.59B	1.74B	3.22B
Gross Property Plant And Equipment	5.35B	5.63B	12B	17.93B	46.49B
Accumulated Depreciation	-564M	-744M	-930M	-1.3B	-11.2B
Net Property Plant And Equipment	4.79B	4.89B	11.07B	16.63B	35.29B
Long-term Investments	172M	170M	189M	2.38M	15.94M
Other Intangibles, Total	2.46M	3.1M	61.37M	117M	404M
Deferred Tax Assets Long-Term	31.51M	104M	330M	1.27B	3.24B
Other Long-Term Assets, Total	1.69B	1.75B	4.51B	7.7B	15.63B
Total Assets	7.5B	7.57B	17.75B	27.47B	57.8B
Liabilities
Accounts Payable, Total	159M	147M	469M	688M	1.23B
Accrued Expenses, Total	33.87M	31.74M	54.47M	130M	343M
Short-term Borrowings	23.12M	85.66M	178M	229M	453M
Current Portion of Long-Term Debt	353M	496M	951M	1.17B	1.76B
Current Portion of Leases	36.43M	59.06M	129M	132M	89.13M
Current Income Taxes Payable	35.42M	4.62M	7.05M	21.5M	11.7M
Unearned Revenue Current, Total	56.16M	10.09M	60.23M	1.05B	1.86B
Other Current Liabilities	10.25M	12.31M	4.67M	4.37M	339M
Total Current Liabilities	707M	846M	1.85B	3.43B	6.09B
Long-Term Debt	833M	1.22B	1.98B	1.73B	1.99B
Long-Term Leases	247M	223M	180M	138M	1.24B
Unearned Revenue Non Current	638K	129K	2.31K	2.3M	1.52M
Pension & Other Post Retirement Benefits	5.65M	6.56M	8.83M	15.87M	27.14M
Deferred Tax Liability Non Current	1.15B	1.14B	3.08B	4.82B	12.84B
Other Non Current Liabilities	641K	107K	12.84M	21.85M	2.03M
Total Liabilities	2.94B	3.43B	7.12B	10.15B	22.18B
Common Stock, Total	564M	564M	564M	564M	564M
Additional Paid In Capital	-	-	-	-	-
Retained Earnings	1.2B	775M	2.12B	5.16B	11.09B
Treasury Stock	-451M	-504M	-234M	-226M	-1.05B
Comprehensive Income and Other	3.17B	3.21B	7.45B	10.64B	22.84B
Total Common Equity	4.49B	4.04B	9.9B	16.13B	33.43B
Minority Interest	69.69M	101M	732M	1.19B	2.18B
Total Equity	4.56B	4.14B	10.64B	17.32B	35.62B
Total Liabilities And Equity	7.5B	7.57B	17.75B	27.47B	57.8B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	367M	342M	472M	475M	468M
ECS Total Common Shares Outstanding	367M	342M	472M	475M	468M
Book Value / Share	12.25	11.82	20.98	33.98	71.4
Tangible Book Value	4.49B	4.04B	9.84B	16.02B	33.03B
Tangible Book Value Per Share	12.24	11.81	20.85	33.73	70.53
Total Debt	1.49B	2.08B	3.42B	3.39B	5.53B
Net Debt	991M	1.67B	2.21B	2.28B	3.49B
Debt Equivalent Oper. Leases	4.68M	5.77M	7.84M	10.42M	8.99M
Minority Interest, Total (Incl. Fin. Div)	69.69M	101M	732M	1.19B	2.18B
Equity Method Investments, Total	136M	167M	187M	-	-
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	24.59M	23.3M	45.58M	69.99M	130M
Inventories - Finished Goods, Total	5.26M	4.57M	4.69M	11M	31.5M
Inventories - Others	9.6M	8.31M	9.65M	71.72M	149M
Land - (BS)	167M	173M	422M	559M	1.6B
Buildings, Total	3.92B	3.92B	8.95B	15.39B	28.3B
Machinery, Total	482M	540M	692M	1.25B	11.31B
Full Time Employees	4.32K	4.07K	4.1K	5.36K	5.98K
Accumulated Allowance for Doubtful Accounts (Supple)	12.52M	12.55M	21.29M	14.25M	12.86M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	76.43M	-490M	910M	2.66B	2.23B
Depreciation & Amortization - CF	159M	175M	179M	336M	1.79B
Amortization of Goodwill and Intangible Assets - (CF)	1.68M	393K	355K	370K	876K
Depreciation & Amortization, Total	160M	176M	179M	336M	1.79B
Asset Writedown & Restructuring Costs	-210M	-	-2.48B	-2.89B	-2.22B
(Income) Loss On Equity Investments - (CF)	-15.36M	-31.18M	-19.97M	187M	122M
Provision and Write-off of Bad Debts	1.6M	1.42M	8.77M	1.58M	-
Net Cash From Discontinued Operations	-1.36M	-234K	-	-	-
Other Operating Activities, Total	163M	403M	2.11B	878M	1.18B
Change In Accounts Receivable	91.19M	68.22M	-92.79M	24.54M	105M
Change In Inventories	-5.34M	3.3M	-23.75M	-92.8M	-157M
Change In Accounts Payable	50.32M	-2.23M	411M	211M	483M
Change in Unearned Revenues	40.71M	-46.57M	50.01M	997M	801M
Change in Other Net Operating Assets	12.85M	30.65M	-98.77M	27.16M	-497M
Cash from Operations	364M	113M	958M	2.34B	3.85B
Capital Expenditure	-164M	-240M	-384M	-1.41B	-1.89B
Sale of Property, Plant, and Equipment	9.49M	1.32M	1.65M	2.8M	1.27B
Divestitures	-	-3.12M	-	59K	-
Sale (Purchase) of Real Estate properties	-35.53M	-8.1M	-22.13M	-125M	-430M
Sale (Purchase) of Intangible assets	-749K	-715K	-57.29M	-140M	-85.16M
Investment in Marketable and Equity Securities, Total	-	-	-	-	-
Other Investing Activities, Total	-	-	-	-	-
Cash from Investing	-191M	-251M	-461M	-1.67B	-1.14B
Long-Term Debt Issued, Total	217M	240M	847M	570M	515M
Total Debt Issued	217M	240M	847M	570M	515M
Short Term Debt Repaid, Total	-	-	-	-	-
Long-Term Debt Repaid, Total	-158M	-134M	-1.2B	-1.45B	-1.73B
Total Debt Repaid	-158M	-134M	-1.2B	-1.45B	-1.73B
Issuance of Common Stock	-	-	844M	45.92M	-
Repurchase of Common Stock	-18.03M	-52.37M	-77.88M	-2.09M	-115M
Common Dividends Paid	-12.35M	-4.58M	-32.05M	-14.56M	-21.33M
Common & Preferred Stock Dividends Paid	-12.35M	-4.58M	-32.05M	-14.56M	-21.33M
Other Financing Activities, Total	-99.61M	-75.04M	-147M	-262M	-204M
Cash from Financing	-71.62M	-25.9M	230M	-1.11B	-1.56B
Foreign Exchange Rate Adjustments	40.9M	62.29M	150M	339M	-130M
Miscellaneous Cash Flow Adjustments	-	-	-	-	-804M
Net Change in Cash	143M	-102M	877M	-101M	217M
Supplemental Items
Cash Interest Paid	156M	165M	226M	331M	338M
Cash Income Tax Paid (Refund)	40.8M	37.26M	43.63M	174M	392M
Levered Free Cash Flow	159M	-296M	-80.68M	149M	1.14B
Unlevered Free Cash Flow	257M	-193M	60.73M	356M	1.59B
Change In Net Working Capital	-172M	22.51M	-256M	-1.05B	-521M
Net Debt Issued / Repaid	58.37M	106M	-358M	-879M	-1.22B

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	1.3	-1.39	0.53	2.28	2.39
Return on Total Capital	1.6	-1.71	0.66	2.97	3.26
Return On Equity %	2.08	-11.13	13.74	21.02	8.31
Return on Common Equity	1.85	-11.47	13.05	20.45	7.24
Margin Analysis
Gross Profit Margin %	29.23	1.92	36.47	36.03	39.65
SG&A Margin	13.29	18.44	14.13	8.42	16.61
EBITDA Margin %	29.79	-4.64	25.35	33.48	36.72
EBITA Margin %	15.64	-39.71	10.57	24.47	21.07
EBIT Margin %	15.46	-39.8	10.54	24.46	21.06
Income From Continuing Operations Margin %	9.64	-114.82	100.34	87.04	28.65
Net Income Margin %	8.28	-116.13	89.97	78.86	23.49
Net Avail. For Common Margin %	8.43	-116.07	89.97	78.86	23.49
Normalized Net Income Margin	10.74	-84.25	74.2	42.99	26.8
Levered Free Cash Flow Margin	17.24	-70.14	-7.98	4.42	12.04
Unlevered Free Cash Flow Margin	27.83	-45.68	6	10.54	16.76
Asset Turnover
Asset Turnover	0.13	0.06	0.08	0.15	0.18
Fixed Assets Turnover	0.21	0.09	0.13	0.24	0.3
Receivables Turnover (Average Receivables)	3.86	2.56	5.82	16.18	41.47
Inventory Turnover (Average Inventory)	17.76	10.94	13.38	20.31	20.35
Short Term Liquidity
Current Ratio	1.15	0.78	0.86	0.51	0.53
Quick Ratio	0.99	0.65	0.77	0.38	0.38
Operating Cash Flow to Current Liabilities	0.51	0.13	0.52	0.68	0.63
Days Sales Outstanding (Average Receivables)	94.51	142.93	62.74	22.56	8.8
Days Outstanding Inventory (Average Inventory)	20.55	33.46	27.27	17.97	17.94
Average Days Payable Outstanding	74.07	136.8	168.79	93.77	74.48
Cash Conversion Cycle (Average Days)	41	39.59	-78.78	-53.24	-47.74
Long Term Solvency
Total Debt/Equity	32.72	50.27	32.12	19.57	15.54
Total Debt / Total Capital	24.65	33.45	24.31	16.37	13.45
LT Debt/Equity	23.67	34.81	20.29	10.76	9.06
Long-Term Debt / Total Capital	17.84	23.16	15.36	9	7.84
Total Liabilities / Total Assets	39.2	45.31	40.08	36.94	38.38
EBIT / Interest Expense	0.91	-1.02	0.47	2.5	2.79
EBITDA / Interest Expense	1.94	0.05	1.26	3.52	5.29