Cash flow Ratti S.p.A.

Equities

RAT

IT0004724107

Apparel & Accessories

Market Closed - Borsa Italiana Other stock markets 11:44:59 2024-09-20 am EDT			5-day change	1st Jan Change
1.920 ^EUR	+1.59%		+2.67%	-28.89%

May. 27	Ratti, Matteo Montorfano is the new chairman of the board of statutory auditors	AN
May. 15	Ratti, revenues increase slightly in first quarter	AN

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Published financial data: RATTI S.P.A.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	116M	71.32M	78.47M	88.6M	92.12M
Other Revenues, Total	745K	642K	504K	704K	407K
Total Revenues	117M	71.96M	78.97M	89.3M	92.52M
Cost of Goods Sold, Total	60.87M	37.95M	42.25M	48.51M	55.33M
Gross Profit	56.15M	34.01M	36.72M	40.79M	37.2M
Selling General & Admin Expenses, Total	34.08M	26.7M	27.45M	31.92M	33.38M
Depreciation & Amortization - (IS)	4.43M	4.6M	4.52M	5.02M	5.19M
Amortization of Goodwill and Intangible Assets - (IS)	-	-	-	-	-
Other Operating Expenses	1.25M	1.78M	1.06M	875K	905K
Other Operating Expenses, Total	39.76M	33.08M	33.03M	37.81M	39.48M
Operating Income	16.39M	933K	3.69M	2.98M	-2.28M
Interest Expense, Total	-360K	-343K	-338K	-418K	-1.49M
Interest And Investment Income	31K	10K	2K	59K	776K
Net Interest Expenses	-329K	-333K	-336K	-359K	-716K
Income (Loss) On Equity Invest.	-	49K	184K	153K	118K
Currency Exchange Gains (Loss)	-104K	-101K	25K	-183K	-71K
Other Non Operating Income (Expenses)	-160K	-29K	-52K	146K	31K
EBT, Excl. Unusual Items	15.8M	519K	3.51M	2.74M	-2.92M
Gain (Loss) On Sale Of Investments	40K	-	-	-	-142K
Gain (Loss) On Sale Of Assets	5K	-128K	-77K	-76K	159K
Asset Writedown	-	-13K	-	-	-
Other Unusual Items	162K	44K	348K	179K	257K
EBT, Incl. Unusual Items	16.01M	422K	3.78M	2.84M	-2.64M
Income Tax Expense	3.12M	-6K	871K	224K	-786K
Earnings From Continuing Operations	12.89M	428K	2.91M	2.62M	-1.86M
Net Income to Company	12.89M	428K	2.91M	2.62M	-1.86M
Minority Interest	-79K	-7K	17K	36K	30K
Net Income - (IS)	12.81M	421K	2.92M	2.66M	-1.83M
Net Income to Common Incl Extra Items	12.81M	421K	2.92M	2.66M	-1.83M
Net Income to Common Excl. Extra Items	12.81M	421K	2.92M	2.66M	-1.83M
Per Share Items
Net EPS - Basic	0.47	0.02	0.11	0.1	-0.07
Basic EPS - Continuing Operations	0.47	0.02	0.11	0.1	-0.07
Basic Weighted Average Shares Outstanding	27.35M	27.35M	27.35M	27.35M	27.35M
Net EPS - Diluted	0.47	0.02	0.11	0.1	-0.07
Diluted EPS - Continuing Operations	0.47	0.02	0.11	0.1	-0.07
Diluted Weighted Average Shares Outstanding	27.35M	27.35M	27.35M	27.35M	27.35M
Normalized Basic EPS	0.36	0.01	0.08	0.06	-0.07
Normalized Diluted EPS	0.36	0.01	0.08	0.06	-0.07
Dividend Per Share	-	-	0.1	0.1	-
Payout Ratio	42.7	-	-	103.01	-149.54
Supplemental Items
EBITDA	20.51M	5.17M	7.85M	7.58M	2.46M
EBITA	16.51M	1.1M	3.88M	3.23M	-2.04M
EBIT	16.39M	933K	3.69M	2.98M	-2.28M
EBITDAR	21.49M	6.05M	8.9M	8.8M	3.83M
Total Revenues (As Reported)	118M	68.55M	-	-	-
Effective Tax Rate - (Ratio)	19.47	-1.42	23.05	7.88	29.72
Total Current Taxes	3.02M	220K	665K	181K	54K
Total Deferred Taxes	97K	-226K	206K	43K	-840K
Normalized Net Income	9.8M	317K	2.21M	1.75M	-1.79M
Interest on Long-Term Debt	385K	352K	348K	428K	1.51M
Supplemental Operating Expense Items
Advertising Expense	351K	224K	318K	453K	489K
Selling and Marketing Expenses	351K	224K	318K	453K	489K
Research And Development Expense From Footnotes	-	-	-	-	-
Net Rental Expense, Total	985K	883K	1.05M	1.22M	1.37M
Imputed Operating Lease Interest Expense	74.99K	51K	58.28K	96.2K	461K
Imputed Operating Lease Depreciation	910K	832K	995K	1.13M	909K
Maintenance & Repair Expenses, Total	1.87M	1.23M	1.66M	1.96M	2.12M
Stock-Based Comp., SG&A Exp. (Total)	245K	369K	159K	-	-
Total Stock-Based Compensation	245K	369K	159K	-	-

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	42.54M	55.09M	42.8M	35.41M	17.94M
Short Term Investments	-	-	-	-	-
Total Cash And Short Term Investments	42.54M	55.09M	42.8M	35.41M	17.94M
Accounts Receivable, Total	21.22M	13.75M	16.72M	15.68M	12.38M
Other Receivables	1.77M	1.61M	2.36M	3.32M	3.13M
Total Receivables	22.99M	15.36M	19.09M	19M	15.51M
Inventory	28.6M	23.35M	23.52M	32.94M	33.04M
Prepaid Expenses	428K	-	-	-	-
Other Current Assets, Total	110K	73K	81K	756K	434K
Total Current Assets	94.67M	93.87M	85.49M	88.11M	66.92M
Gross Property Plant And Equipment	118M	123M	127M	131M	132M
Accumulated Depreciation	-80.26M	-82.51M	-85.32M	-89.26M	-92.32M
Net Property Plant And Equipment	38.06M	40.19M	41.22M	41.43M	39.82M
Long-term Investments	641K	638K	845K	880K	736K
Other Intangibles, Total	2.4M	3.44M	4.03M	5.3M	6.96M
Deferred Tax Assets Long-Term	3.56M	3.81M	3.56M	3.5M	4.33M
Other Long-Term Assets, Total	680K	570K	881K	1.1M	980K
Total Assets	140M	143M	136M	140M	120M
Liabilities
Accounts Payable, Total	23.01M	14.47M	17.87M	21.98M	20.43M
Accrued Expenses, Total	7.03M	5.32M	4.79M	5.66M	5.25M
Short-term Borrowings	15K	30K	14K	581K	537K
Current Portion of Long-Term Debt	8.81M	11.1M	12.11M	19.08M	9.06M
Current Portion of Leases	316K	329K	355K	445K	452K
Current Income Taxes Payable	80K	10K	39K	4K	52K
Other Current Liabilities	2.02M	1.55M	1.7M	2.04M	1.33M
Total Current Liabilities	41.27M	32.81M	36.87M	49.79M	37.11M
Long-Term Debt	29.7M	41.38M	29.38M	20.38M	18.2M
Long-Term Leases	1.77M	1.57M	1.44M	1.24M	990K
Pension & Other Post Retirement Benefits	5.76M	4.78M	3.88M	3.29M	3.07M
Deferred Tax Liability Non Current	334K	337K	352K	590K	482K
Other Non Current Liabilities	1.53M	1.43M	1.38M	1.57M	1.32M
Total Liabilities	80.36M	82.31M	73.3M	76.86M	61.18M
Common Stock, Total	11.12M	11.12M	11.12M	11.12M	11.12M
Additional Paid In Capital	16.83M	16.83M	16.83M	16.83M	16.83M
Retained Earnings	30.65M	31.07M	33.99M	33.85M	29.24M
Comprehensive Income and Other	834K	1.02M	625K	1.54M	1.28M
Total Common Equity	59.43M	60.03M	62.56M	63.33M	58.46M
Minority Interest	224K	180K	164K	125K	92K
Total Equity	59.65M	60.21M	62.73M	63.46M	58.56M
Total Liabilities And Equity	140M	143M	136M	140M	120M
Supplemental Items
ECS Total Shares Outstanding on Filing Date	27.35M	27.35M	27.35M	27.35M	27.35M
ECS Total Common Shares Outstanding	27.35M	27.35M	27.35M	27.35M	27.35M
Book Value / Share	2.17	2.2	2.29	2.32	2.14
Tangible Book Value	57.03M	56.6M	58.53M	58.03M	51.51M
Tangible Book Value Per Share	2.09	2.07	2.14	2.12	1.88
Total Debt	40.6M	54.41M	43.3M	41.73M	29.24M
Net Debt	-1.93M	-677K	498K	6.32M	11.31M
Debt Equivalent Oper. Leases	7.88M	7.06M	8.42M	9.78M	10.96M
Minority Interest, Total (Incl. Fin. Div)	224K	180K	164K	125K	92K
Equity Method Investments, Total	626K	623K	688K	720K	718K
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	5.91M	4.96M	4.88M	6.19M	6.4M
Inventories - Work In Process, Total	15.01M	13.24M	13.73M	20.04M	17.89M
Inventories - Finished Goods, Total	16.3M	14.49M	14.33M	15.95M	19.46M
Land - (BS)	23.7M	25.89M	27.27M	27.63M	28.32M
Machinery, Total	78.84M	80.01M	84.04M	87.81M	88.46M
Full Time Employees	825	741	711	715	752
Assets under Capital Lease - Gross	-	-	-	-	-
Assets under Capital Lease - Accumulated Depreciation	-	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	561K	918K	987K	1.2M	873K

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	12.81M	421K	2.92M	2.66M	-1.83M
Depreciation & Amortization - CF	4.32M	4.43M	4.33M	4.77M	4.95M
Amortization of Goodwill and Intangible Assets - (CF)	117K	171K	197K	249K	243K
Depreciation & Amortization, Total	4.43M	4.6M	4.52M	5.02M	5.19M
Minority Interest in Earnings - (CF)	79K	7K	-17K	-36K	-30K
(Gain) Loss From Sale Of Asset	-5K	79K	76K	75K	-159K
(Gain) Loss on Sale of Investments - (CF)	-	-	-	-	142K
Asset Writedown & Restructuring Costs	-	-	-	-	-
(Income) Loss On Equity Investments - (CF)	-	-49K	-184K	-153K	-118K
Other Operating Activities, Total	-1.1M	-567K	788K	-702K	-1.48M
Change In Accounts Receivable	2.19M	8.41M	-4.1M	474K	4.11M
Change In Inventories	101K	5.25M	-174K	-9.44M	-119K
Change In Accounts Payable	105K	-10.25M	2.44M	5.38M	-2.61M
Change in Other Net Operating Assets	-971K	-1.25M	-1.03M	-36K	-114K
Cash from Operations	17.64M	6.65M	5.25M	3.24M	3M
Capital Expenditure	-8.09M	-6.35M	-5.26M	-4.64M	-3.7M
Sale of Property, Plant, and Equipment	41K	21K	63K	58K	303K
Divestitures	-	-	-	-	-
Sale (Purchase) of Intangible assets	-1.5M	-1.22M	-792K	-1.52M	-1.9M
Investment in Marketable and Equity Securities, Total	-626K	-	-192K	-3K	-
Net (Increase) Decrease in Loans Originated / Sold - Investing	-	-	-150K	-	-120K
Other Investing Activities, Total	-357K	-468K	-1K	161K	937K
Cash from Investing	-10.53M	-8.01M	-6.33M	-5.94M	-4.47M
Short Term Debt Issued, Total	-	13K	-	512K	-
Long-Term Debt Issued, Total	10.34M	16.88M	15K	10.01M	7M
Total Debt Issued	10.34M	16.89M	15K	10.52M	7M
Short Term Debt Repaid, Total	-11K	-	-71K	-	-558K
Long-Term Debt Repaid, Total	-6.82M	-2.93M	-11.15M	-12.53M	-19.65M
Total Debt Repaid	-6.84M	-2.93M	-11.22M	-12.53M	-20.21M
Common Dividends Paid	-5.47M	-	-	-2.74M	-2.74M
Common & Preferred Stock Dividends Paid	-5.47M	-	-	-2.74M	-2.74M
Other Financing Activities, Total	-49K	-39K	-	-	-
Cash from Financing	-2.02M	13.92M	-11.2M	-4.74M	-15.95M
Foreign Exchange Rate Adjustments	93K	-12K	1K	63K	-50K
Net Change in Cash	5.19M	12.55M	-12.29M	-7.38M	-17.48M
Supplemental Items
Cash Interest Paid	416K	373K	368K	353K	1.05M
Cash Income Tax Paid (Refund)	4.14M	612K	138K	716K	115K
Levered Free Cash Flow	5.58M	340K	-146K	-4.24M	-1.67M
Unlevered Free Cash Flow	5.8M	554K	65.75K	-3.98M	-740K
Change In Net Working Capital	-464K	-2.57M	869K	4.71M	-1.09M
Net Debt Issued / Repaid	3.5M	13.96M	-11.2M	-2.01M	-13.21M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	7.62	0.41	1.65	1.35	-1.1
Return on Total Capital	10.93	0.54	2.09	1.77	-1.48
Return On Equity %	23.06	0.71	4.73	4.15	-3.05
Return on Common Equity	23	0.7	4.77	4.22	-3
Margin Analysis
Gross Profit Margin %	47.98	47.27	46.5	45.68	40.2
SG&A Margin	29.12	37.11	34.76	35.74	36.08
EBITDA Margin %	17.52	7.18	9.94	8.49	2.66
EBITA Margin %	14.11	1.53	4.92	3.62	-2.2
EBIT Margin %	14.01	1.3	4.67	3.34	-2.47
Income From Continuing Operations Margin %	11.01	0.59	3.68	2.93	-2.01
Net Income Margin %	10.95	0.58	3.7	2.97	-1.98
Net Avail. For Common Margin %	10.95	0.58	3.7	2.97	-1.98
Normalized Net Income Margin	8.37	0.44	2.8	1.96	-1.94
Levered Free Cash Flow Margin	4.77	0.47	-0.18	-4.75	-1.81
Unlevered Free Cash Flow Margin	4.96	0.77	0.08	-4.46	-0.8
Asset Turnover
Asset Turnover	0.87	0.51	0.57	0.65	0.71
Fixed Assets Turnover	3.31	1.84	1.94	2.16	2.28
Receivables Turnover (Average Receivables)	5.12	4.08	5.15	5.47	6.57
Inventory Turnover (Average Inventory)	2.12	1.46	1.8	1.72	1.68
Short Term Liquidity
Current Ratio	2.29	2.86	2.32	1.77	1.8
Quick Ratio	1.59	2.15	1.68	1.09	0.9
Operating Cash Flow to Current Liabilities	0.43	0.2	0.14	0.07	0.08
Days Sales Outstanding (Average Receivables)