Balance Sheet SMCP S.A

Equities

SMCP

FR0013214145

Apparel & Accessories Retailers

Market Closed - Euronext Paris Other stock markets 11:35:17 2025-01-22 am EST			5-day change	1st Jan Change
3.210 ^EUR	+1.90%		-1.68%	-12.53%

Jan. 03	SMCP: ADP G converted into ordinary shares	CF
Oct. 29	SMCP: organic sales down by almost 3% for the first nine months	CF

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Published financial data: SMCP S.A

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	1.13B	873M	1.04B	1.21B	1.23B
Total Revenues	1.13B	873M	1.04B	1.21B	1.23B
Cost of Goods Sold, Total	419M	348M	380M	437M	455M
Gross Profit	713M	525M	658M	769M	775M
Selling General & Admin Expenses, Total	260M	200M	236M	281M	303M
Stock-Based Compensation (IS)	10M	9.2M	6.7M	5.6M	3M
Depreciation & Amortization - (IS)	155M	173M	154M	155M	156M
Other Operating Expenses	165M	145M	173M	222M	236M
Other Operating Expenses, Total	590M	527M	570M	664M	698M
Operating Income	123M	-2.2M	88.6M	106M	77.5M
Interest Expense, Total	-25.29M	-27.4M	-25.9M	-22.6M	-27.1M
Interest And Investment Income	-	-	-	-	-
Net Interest Expenses	-25.29M	-27.4M	-25.9M	-22.6M	-27.1M
Currency Exchange Gains (Loss)	-2.94M	-1.6M	300K	-1.3M	-300K
Other Non Operating Income (Expenses)	-734K	1.8M	-1.1M	100K	-600K
EBT, Excl. Unusual Items	94.34M	-29.4M	61.9M	81.8M	49.5M
Restructuring Charges	-	-	-	-	-
Merger & Related Restructuring Charges	-1.88M	-	-	-	-
Impairment of Goodwill	-	-51.9M	-5M	-	-5M
Gain (Loss) On Sale Of Investments	-	-	-	-	-
Gain (Loss) On Sale Of Assets	-	-	-	-	-
Asset Writedown	-1.06M	-30.7M	-22.1M	-9.8M	-20M
Legal Settlements	-	-	-	-	-
Other Unusual Items	-24.29M	3.3M	900K	-3.3M	-1.9M
EBT, Incl. Unusual Items	67.11M	-109M	35.7M	68.7M	22.6M
Income Tax Expense	23.44M	-6.5M	12.1M	17.4M	11.4M
Earnings From Continuing Operations	43.67M	-102M	23.6M	51.3M	11.2M
Net Income to Company	43.67M	-102M	23.6M	51.3M	11.2M
Net Income - (IS)	43.67M	-102M	23.6M	51.3M	11.2M
Net Income to Common Incl Extra Items	43.67M	-102M	23.6M	51.3M	11.2M
Net Income to Common Excl. Extra Items	43.67M	-102M	23.6M	51.3M	11.2M
Per Share Items
Net EPS - Basic	0.6	-1.38	0.32	0.68	0.15
Basic EPS - Continuing Operations	0.6	-1.38	0.32	0.68	0.15
Basic Weighted Average Shares Outstanding	73.37M	73.93M	74.56M	75.09M	75.06M
Net EPS - Diluted	0.55	-1.38	0.3	0.65	0.14
Diluted EPS - Continuing Operations	0.55	-1.38	0.3	0.65	0.14
Diluted Weighted Average Shares Outstanding	78.84M	73.93M	79.61M	79.23M	78.45M
Normalized Basic EPS	0.8	-0.25	0.52	0.68	0.41
Normalized Diluted EPS	0.75	-0.25	0.49	0.65	0.39
Supplemental Items
EBITDA	163M	50.9M	140M	152M	121M
EBITA	131M	8.9M	100M	113M	84.4M
EBIT	123M	-2.2M	88.6M	106M	77.5M
EBITDAR	186M	-	160M	173M	144M
Total Revenues (As Reported)	-	-	-	-	-
Effective Tax Rate - (Ratio)	34.93	5.98	33.89	25.33	50.44
Total Current Taxes	29.51M	6.1M	4.1M	16.6M	10.5M
Total Deferred Taxes	-6.07M	-12.6M	8M	800K	900K
Normalized Net Income	58.96M	-18.38M	38.69M	51.12M	30.94M
Interest on Long-Term Debt	32.94M	21.8M	19.8M	16.8M	23.3M
Non-Cash Pension Expense	40K	100K	0	0	100K
Supplemental Operating Expense Items
Net Rental Expense, Total	22.64M	-	20.3M	21.3M	23.2M
Imputed Operating Lease Interest Expense	7.24M	-	4.7M	4.72M	6.62M
Imputed Operating Lease Depreciation	15.4M	-	15.6M	16.58M	16.58M
Stock-Based Comp., SG&A Exp. (Total)	-	-	-	-	-
Stock-Based Comp., Other (Total)	10M	9.2M	6.7M	5.6M	3M
Total Stock-Based Compensation	10M	9.2M	6.7M	5.6M	3M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	52.33M	127M	131M	73.3M	50.9M
Short Term Investments	-	-	-	-	-
Total Cash And Short Term Investments	52.33M	127M	131M	73.3M	50.9M
Accounts Receivable, Total	58.44M	53.5M	56.7M	62.9M	68.2M
Other Receivables	41.69M	20.4M	19M	15.5M	21.7M
Total Receivables	100M	73.9M	75.7M	78.4M	89.9M
Inventory	248M	223M	234M	292M	282M
Prepaid Expenses	21.73M	19.8M	20.3M	20.7M	23.1M
Other Current Assets, Total	-	16.1M	24.4M	25.2M	24.4M
Total Current Assets	422M	460M	485M	489M	470M
Gross Property Plant And Equipment	906M	934M	1.03B	1.14B	1.22B
Accumulated Depreciation	-218M	-371M	-476M	-600M	-692M
Net Property Plant And Equipment	688M	563M	555M	536M	528M
Long-term Investments	-	-	-	-	-
Goodwill	683M	631M	626M	626M	627M
Other Intangibles, Total	690M	685M	679M	674M	675M
Loans Receivable Long-Term	21.46M	19.6M	-	-	-
Deferred Tax Assets Long-Term	43.89M	53.3M	48.4M	35.7M	32M
Other Long-Term Assets, Total	722K	500K	19.9M	18.8M	19.5M
Total Assets	2.55B	2.41B	2.41B	2.38B	2.35B
Liabilities
Accounts Payable, Total	144M	129M	139M	153M	146M
Accrued Expenses, Total	61.21M	41.3M	62.5M	71.3M	54M
Short-term Borrowings	2.99M	42.6M	39.9M	26.9M	42.2M
Current Portion of Long-Term Debt	1K	-	70.3M	77.3M	71.4M
Current Portion of Leases	102M	100M	99.2M	100M	107M
Other Current Liabilities	19.61M	26.2M	37.1M	41.3M	49.1M
Total Current Liabilities	330M	339M	448M	470M	469M
Long-Term Debt	437M	467M	339M	262M	224M
Long-Term Leases	402M	320M	313M	303M	306M
Unearned Revenue Non Current	-	-	-	-	-
Pension & Other Post Retirement Benefits	3.93M	4.5M	5.2M	4.2M	4.9M
Deferred Tax Liability Non Current	183M	182M	182M	169M	167M
Other Non Current Liabilities	3.79M	4M	3.4M	700K	700K
Total Liabilities	1.36B	1.32B	1.29B	1.21B	1.17B
Preferred Stock Convertible	1.2M	1.05M	-	-	-
Total Preferred Equity	1.2M	1.05M	-	-	-
Common Stock, Total	81.02M	81.65M	83.3M	83.9M	83.9M
Additional Paid In Capital	951M	951M	950M	950M	950M
Retained Earnings	43.67M	-102M	23.6M	51.3M	11.2M
Treasury Stock	-6.51M	-2.6M	-5.4M	-7.7M	-5M
Comprehensive Income and Other	119M	167M	70.7M	95M	140M
Total Common Equity	1.19B	1.09B	1.12B	1.17B	1.18B
Minority Interest	7K	-	-	-	-
Total Equity	1.19B	1.1B	1.12B	1.17B	1.18B
Total Liabilities And Equity	2.55B	2.41B	2.41B	2.38B	2.35B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	73.59M	74.64M	75.05M	74.62M	74.89M
ECS Total Common Shares Outstanding	73.06M	73.96M	74.31M	74.57M	74.89M
Book Value / Share	16.27	14.8	15.1	15.72	15.76
Tangible Book Value	-184M	-222M	-183M	-129M	-122M
Tangible Book Value Per Share	-2.52	-3	-2.46	-1.72	-1.62
Total Debt	944M	930M	861M	769M	750M
Net Debt	892M	803M	730M	696M	699M
Debt Equivalent of Unfunded Proj. Benefit Obligation	3.93M	4.5M	5.2M	4.2M	4.9M
Debt Equivalent Oper. Leases	181M	-	162M	170M	186M
Minority Interest, Total (Incl. Fin. Div)	7K	-	-	-	-
Account Code - Inventory Valuation	3	3	3	3	3
Inventories - Raw Materials, Total	37.46M	32.4M	35.8M	44.7M	39.3M
Inventories - Finished Goods, Total	233M	215M	222M	275M	267M
Buildings, Total	-	-	-	-	-
Machinery, Total	5.4M	5.7M	3.8M	3.8M	3.9M
Full Time Employees	5.73K	5.19K	5.38K	5.61K	5.77K
Accumulated Allowance for Doubtful Accounts (Supple)	113K	100K	300K	200K	800K

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	43.67M	-102M	23.6M	51.3M	11.2M
Depreciation & Amortization - CF	142M	161M	142M	148M	149M
Amortization of Goodwill and Intangible Assets - (CF)	7.67M	11.1M	11.4M	7.1M	6.9M
Depreciation & Amortization, Total	150M	172M	153M	155M	156M
Amortization of Deferred Charges, Total - (CF)	-	-	-	-	-
Asset Writedown & Restructuring Costs	5.12M	79.8M	27.1M	9.8M	25M
Stock-Based Compensation (CF)	-	-	6.7M	5.6M	3M
Other Operating Activities, Total	34.56M	27.2M	34.3M	32.3M	24.4M
Change In Accounts Receivable	-31.09M	5.9M	-7.1M	-5.5M	-2.6M
Change In Inventories	-18.14M	21.1M	-3.4M	-58M	9.7M
Change In Accounts Payable	17.54M	-1M	16M	18.1M	-10.8M
Cash from Operations	201M	203M	250M	209M	216M
Capital Expenditure	-72M	-57.8M	-46.7M	-45.5M	-55M
Sale of Property, Plant, and Equipment	3.56M	-	600K	-	-
Cash Acquisitions	-94.99M	-2.9M	-	-	-6.1M
Sale (Purchase) of Intangible assets	-	-	-	-	-
Investment in Marketable and Equity Securities, Total	-1.08M	1.7M	-1.1M	900K	-600K
Other Investing Activities, Total	-	-	-	-	-
Cash from Investing	-165M	-59M	-47.2M	-44.6M	-61.7M
Short Term Debt Issued, Total	27.37M	-	-	-	-
Long-Term Debt Issued, Total	261M	145M	53M	-	32.6M
Total Debt Issued	288M	145M	53M	-	32.6M
Short Term Debt Repaid, Total	-	-	-112M	-85M	-76.2M
Long-Term Debt Repaid, Total	-293M	-200M	-120M	-121M	-128M
Total Debt Repaid	-293M	-200M	-233M	-206M	-204M
Issuance of Common Stock	-	-	-	-	-
Repurchase of Common Stock	-4.86M	-	-5.5M	-7.4M	-2.4M
Other Financing Activities, Total	-20.26M	-12.7M	-14.2M	-9.4M	-17.1M
Cash from Financing	-29.81M	-68.2M	-200M	-223M	-191M
Foreign Exchange Rate Adjustments	818K	-1M	1.5M	200K	-500K
Miscellaneous Cash Flow Adjustments	-	100K	-	-	-
Net Change in Cash	7.86M	75.2M	4.9M	-58.1M	-37.7M
Supplemental Items
Cash Interest Paid	17.44M	12.9M	14.6M	9.9M	16.3M
Cash Income Tax Paid (Refund)	40.88M	2.2M	5M	12.2M	16.9M
Levered Free Cash Flow	94.74M	114M	174M	132M	115M
Unlevered Free Cash Flow	111M	131M	190M	146M	132M
Change In Net Working Capital	54.2M	-8.5M	-21.6M	35.4M	20.2M
Net Debt Issued / Repaid	-4.69M	-55.5M	-180M	-206M	-172M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	3.5	-0.06	2.3	2.76	2.05
Return on Total Capital	4.29	-0.07	2.76	3.37	2.5
Return On Equity %	3.75	-8.94	2.13	4.48	0.95
Return on Common Equity	3.75	-8.95	2.13	4.48	0.95
Margin Analysis
Gross Profit Margin %	63.01	60.09	63.39	63.79	63
SG&A Margin	22.96	22.94	22.71	23.31	24.62
EBITDA Margin %	14.44	5.83	13.44	12.56	9.86
EBITA Margin %	11.57	1.02	9.63	9.35	6.86
EBIT Margin %	10.89	-0.25	8.53	8.76	6.3
Income From Continuing Operations Margin %	3.86	-11.71	2.27	4.25	0.91
Net Income Margin %	3.86	-11.71	2.27	4.25	0.91
Net Avail. For Common Margin %	3.86	-11.71	2.27	4.25	0.91
Normalized Net Income Margin	5.21	-2.1	3.72	4.24	2.51
Levered Free Cash Flow Margin	8.37	13.05	16.72	10.94	9.36
Unlevered Free Cash Flow Margin	9.77	15.01	18.28	12.12	10.74
Asset Turnover
Asset Turnover	0.51	0.35	0.43	0.5	0.52
Fixed Assets Turnover	2.96	1.4	1.86	2.21	2.31
Receivables Turnover (Average Receivables)	20.6	15.6	18.85	20.16	18.77
Inventory Turnover (Average Inventory)	1.78	1.48	1.67	1.66	1.59
Short Term Liquidity
Current Ratio	1.28	1.36	1.08	1.04	1
Quick Ratio	0.46	0.59	0.46	0.32	0.3
Operating Cash Flow to Current Liabilities	0.61	0.6	0.56	0.44	0.46
Days Sales Outstanding (Average Receivables)	17.72	23.46	19.36	18.1	19.44
Days Outstanding Inventory (Average Inventory)	204.6	247.29	219.08	219.49	229.84
Average Days Payable Outstanding	106.41	154.31	125.2	113.51	130.02
Cash Conversion Cycle (Average Days)	115.91	116.44	113.24	124.08	119.26
Long Term Solvency
Total Debt/Equity	79.34	84.92	76.75	65.62	63.51
Total Debt / Total Capital	44.24	45.92	43.42	39.62	38.84
LT Debt/Equity	70.54	71.86	58.09	48.2	44.85
Long-Term Debt / Total Capital	39.33	38.86	32.87	29.1	27.43
Total Liabilities / Total Assets	53.33	54.6	53.49	50.77	49.8
EBIT / Interest Expense	4.88	-0.08	3.42	4.67	2.86
EBITDA / Interest Expense	10.8	6.22	9.32	11.55	8.61
(EBITDA - Capex) / Interest Expense	7.95	4.11	7.52	9.54	6.58
Total Debt / EBITDA	3.46	5.46	3.57	2.95	3.21
Net Debt / EBITDA	3.27	4.72	3.02	2.67	2.99
Total Debt / (EBITDA - Capex)	4.7	8.27	4.42	3.57	4.2
Net Debt / (EBITDA - Capex)	4.44	7.14	3.75	3.23	3.92
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	11.28	-22.87	18.97	16.1	2.05
Gross Profit, 1 Yr. Growth %	9.84	-26.45	25.51	16.83	0.78
EBITDA, 1 Yr. Growth %	3.97	-69.81	189.03	10.58	-19.93
EBITA, 1 Yr. Growth %	0.49	-93.21	1.02K	14.18	-25.11
EBIT, 1 Yr. Growth %