Cash flow Verallia

Equities

VRLA

FR0013447729

Non-Paper Containers & Packaging

Real-time Euronext Paris Other stock markets 03:20:23 2025-01-22 am EST			5-day change	1st Jan Change
25.18 ^EUR	0.00%		+11.71%	+3.71%

Nov. 13	Verallia: Invesco Ltd exceeds 10% of share capital	CF
Nov. 08	VERALLIA : Berenberg downgrades, no longer recommends buying	CF

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Published financial data: VERALLIA

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	2.59B	2.54B	2.67B	3.35B	3.9B
Total Revenues	2.59B	2.54B	2.67B	3.35B	3.9B
Cost of Goods Sold, Total	2.04B	1.97B	2.04B	2.53B	2.85B
Gross Profit	542M	568M	632M	824M	1.05B
Selling General & Admin Expenses, Total	173M	162M	175M	194M	215M
Other Operating Expenses	14.7M	-	-	-	-
Other Operating Expenses, Total	187M	162M	175M	194M	215M
Operating Income	355M	406M	457M	630M	835M
Interest Expense, Total	-93.8M	-55.5M	-48.4M	-53.4M	-88.4M
Interest And Investment Income	9.3M	10M	16M	20.3M	28.7M
Net Interest Expenses	-84.5M	-45.5M	-32.4M	-33.1M	-59.7M
Income (Loss) On Equity Invest.	-700K	1.4M	2.4M	200K	300K
Currency Exchange Gains (Loss)	-200K	8M	-900K	-12.8M	-15.3M
Other Non Operating Income (Expenses)	3M	-	-	-1.4M	-
EBT, Excl. Unusual Items	273M	370M	426M	583M	760M
Restructuring Charges	-2.9M	-22.1M	2.3M	800K	-3.4M
Merger & Related Restructuring Charges	-59.4M	-60.4M	-59.7M	-65.6M	-71.3M
Gain (Loss) On Sale Of Assets	1.3M	-3.2M	-6.3M	1.3M	3.2M
Asset Writedown	-700K	-	-	-1.4M	-2.5M
Other Unusual Items	-32.5M	-12.2M	-23.4M	-40.3M	-43.5M
EBT, Incl. Unusual Items	178M	272M	339M	478M	643M
Income Tax Expense	53.8M	62.4M	89.4M	122M	167M
Earnings From Continuing Operations	125M	210M	249M	356M	475M
Net Income to Company	125M	210M	249M	356M	475M
Minority Interest	-9M	-7.5M	-6.7M	-13.6M	-5.3M
Net Income - (IS)	116M	202M	243M	342M	470M
Net Income to Common Incl Extra Items	116M	202M	243M	342M	470M
Net Income to Common Excl. Extra Items	116M	202M	243M	342M	470M
Per Share Items
Net EPS - Basic	1	1.67	2.01	2.92	4.02
Basic EPS - Continuing Operations	1	1.67	2.01	2.92	4.02
Basic Weighted Average Shares Outstanding	116M	121M	121M	117M	117M
Net EPS - Diluted	1	1.67	2.01	2.92	4.01
Diluted EPS - Continuing Operations	1	1.67	2.01	2.92	4.01
Diluted Weighted Average Shares Outstanding	116M	121M	121M	117M	117M
Normalized Basic EPS	1.4	1.85	2.15	2.99	4.02
Normalized Diluted EPS	1.4	1.85	2.15	2.99	4.01
Dividend Per Share	0.85	0.95	1.05	1.4	2.15
Payout Ratio	-	6.48	47.07	35.88	34.85
Supplemental Items
EBITDA	616M	660M	716M	924M	1.16B
EBITA	417M	467M	517M	630M	835M
EBIT	355M	406M	457M	630M	835M
Effective Tax Rate - (Ratio)	30.16	22.94	26.4	25.56	26.05
Current Domestic Taxes	8.2M	8.4M	12.5M	13.1M	33.6M
Current Foreign Taxes	62.8M	64.6M	95.4M	122M	143M
Total Current Taxes	71M	73M	108M	135M	177M
Deferred Domestic Taxes	-13M	-8.3M	-4.5M	-2M	-7.1M
Deferred Foreign Taxes	-4.2M	-2.3M	-14M	-11.3M	-2.4M
Total Deferred Taxes	-17.2M	-10.6M	-18.5M	-13.3M	-9.5M
Normalized Net Income	161M	224M	259M	351M	470M
Interest on Long-Term Debt	25.1M	1.7M	32M	29.4M	46.7M
Non-Cash Pension Expense	8.9M	800K	1.1M	1.3M	3.1M
Supplemental Operating Expense Items
Research And Development Expense From Footnotes	4.9M	4.5M	3.6M	6.1M	2.2M
Stock-Based Comp., Other (Total)	11.5M	5.8M	10.1M	6.2M	6.2M
Total Stock-Based Compensation	11.5M	5.8M	10.1M	6.2M	6.2M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	219M	476M	495M	331M	475M
Total Cash And Short Term Investments	219M	476M	495M	331M	475M
Accounts Receivable, Total	115M	99.3M	122M	250M	144M
Other Receivables	48.7M	29.4M	32.1M	81.3M	47.9M
Total Receivables	163M	129M	154M	332M	192M
Inventory	455M	387M	404M	537M	712M
Prepaid Expenses	400K	200K	600K	400K	700K
Other Current Assets, Total	36.1M	34.8M	288M	317M	83.6M
Total Current Assets	874M	1.03B	1.34B	1.52B	1.46B
Gross Property Plant And Equipment	2.24B	2.34B	2.71B	3.36B	3.78B
Accumulated Depreciation	-938M	-1.05B	-1.36B	-1.75B	-1.99B
Net Property Plant And Equipment	1.3B	1.29B	1.35B	1.61B	1.8B
Long-term Investments	7.1M	8.3M	11.3M	13.5M	14.9M
Goodwill	551M	530M	530M	784M	688M
Other Intangibles, Total	499M	431M	372M	313M	416M
Loans Receivable Long-Term	26.8M	20.7M	20.2M	24.6M	27.4M
Deferred Tax Assets Long-Term	42.3M	27.1M	64.7M	27.5M	33.6M
Other Long-Term Assets, Total	4.1M	3.8M	126M	154M	22.2M
Total Assets	3.3B	3.34B	3.82B	4.44B	4.46B
Liabilities
Accounts Payable, Total	384M	368M	521M	741M	627M
Accrued Expenses, Total	108M	99.2M	108M	130M	153M
Short-term Borrowings	199M	158M	161M	159M	193M
Current Portion of Long-Term Debt	9.5M	10.9M	21.8M	24.5M	35.8M
Current Portion of Leases	17M	16.3M	14.2M	17.3M	20.2M
Current Income Taxes Payable	19.3M	21.8M	23.6M	44.3M	66.3M
Unearned Revenue Current, Total	17.7M	24.1M	34.7M	29.1M	92.9M
Other Current Liabilities	203M	186M	160M	332M	427M
Total Current Liabilities	958M	885M	1.05B	1.48B	1.62B
Long-Term Debt	1.55B	1.54B	1.54B	1.53B	1.57B
Long-Term Leases	36.3M	30.6M	33.2M	36.3M	41.3M
Pension & Other Post Retirement Benefits	133M	134M	118M	87.4M	88.9M
Deferred Tax Liability Non Current	167M	146M	264M	226M	142M
Other Non Current Liabilities	43.1M	24.1M	21.3M	23.2M	45.5M
Total Liabilities	2.88B	2.76B	3.02B	3.38B	3.5B
Common Stock, Total	400M	417M	413M	413M	413M
Additional Paid In Capital	78.4M	168M	138M	134M	133M
Treasury Stock	-	-	-165M	-152M	-166M
Comprehensive Income and Other	-92.4M	-46.6M	360M	608M	528M
Total Common Equity	386M	538M	746M	1B	908M
Minority Interest	33.4M	39.5M	53.3M	64M	50.6M
Total Equity	420M	578M	800M	1.07B	958M
Total Liabilities And Equity	3.3B	3.34B	3.82B	4.44B	4.46B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	118M	123M	117M	117M	117M
ECS Total Common Shares Outstanding	118M	123M	117M	117M	117M
Book Value / Share	3.26	4.37	6.39	8.56	7.77
Tangible Book Value	-664M	-422M	-156M	-93.6M	-196M
Tangible Book Value Per Share	-5.61	-3.43	-1.34	-0.8	-1.68
Total Debt	1.81B	1.75B	1.77B	1.76B	1.86B
Net Debt	1.59B	1.28B	1.27B	1.43B	1.39B
Debt Equivalent of Unfunded Proj. Benefit Obligation	125M	126M	108M	79.8M	84M
Minority Interest, Total (Incl. Fin. Div)	33.4M	39.5M	53.3M	64M	50.6M
Equity Method Investments, Total	600K	2M	5.1M	5.9M	6.7M
Account Code - Inventory Valuation	6	6	6	6	-
Inventories - Raw Materials, Total	133M	130M	140M	193M	226M
Inventories - Work In Process, Total	3M	2.2M	1.7M	2.2M	3.1M
Inventories - Finished Goods, Total	346M	286M	294M	374M	530M
Land - (BS)	65.8M	64.1M	65.6M	66.4M	66.1M
Buildings, Total	259M	249M	316M	429M	477M
Machinery, Total	1.71B	1.78B	2.16B	2.57B	2.78B
Full Time Employees	8.65K	8.6K	8.76K	10.32K	10.88K
Accumulated Allowance for Doubtful Accounts (Supple)	7.4M	10.3M	9M	12.5M	19.6M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	116M	202M	243M	342M	475M
Depreciation & Amortization - CF	218M	211M	216M	294M	323M
Amortization of Goodwill and Intangible Assets - (CF)	62M	60.8M	60.5M	-	-
Depreciation & Amortization, Total	280M	272M	276M	294M	323M
Amortization of Deferred Charges, Total - (CF)	21.7M	15.8M	15.5M	17.1M	14.3M
(Gain) Loss From Sale Of Asset	-1.4M	3.2M	6.4M	-1.3M	-3.1M
Asset Writedown & Restructuring Costs	300K	300K	600K	1.4M	3.8M
(Income) Loss On Equity Investments - (CF)	700K	-1.4M	-2.4M	-200K	-300K
Other Operating Activities, Total	3.4M	46.5M	58.9M	86.8M	144M
Change In Accounts Receivable	-13.9M	15.8M	107M	50.9M	92.7M
Change In Inventories	19.7M	55.3M	-16.9M	-92.8M	-192M
Change In Income Taxes	71M	-	-	-	-
Change In Deferred Taxes	-	-	-46.8M	800K	200K
Cash from Operations	497M	610M	642M	699M	858M
Capital Expenditure	-252M	-243M	-254M	-365M	-413M
Sale of Property, Plant, and Equipment	3.7M	-	-	4.5M	5.1M
Cash Acquisitions	-500K	1M	-200K	-248M	-38.4M
Sale (Purchase) of Intangible assets	-	-8.2M	-6.3M	-1.8M	-5.2M
Investment in Marketable and Equity Securities, Total	-	-	-	-	-
Net (Increase) Decrease in Loans Originated / Sold - Investing	8M	700K	-800K	-4.4M	-6.8M
Other Investing Activities, Total	19.3M	2.8M	-10.7M	75.2M	-1.5M
Cash from Investing	-222M	-246M	-272M	-540M	-460M
Short Term Debt Issued, Total	106M	-	2.9M	-	34.5M
Long-Term Debt Issued, Total	1.54B	207M	1.04B	6.8M	570M
Total Debt Issued	1.64B	207M	1.04B	6.8M	604M
Short Term Debt Repaid, Total	-	-40.9M	-	-1.7M	-
Long-Term Debt Repaid, Total	-1.89B	-228M	-1.04B	-172M	-565M
Total Debt Repaid	-1.89B	-269M	-1.04B	-174M	-565M
Issuance of Common Stock	-	20.1M	15.7M	13M	18.6M
Repurchase of Common Stock	-	-	-221M	-8.4M	-41.7M
Common Dividends Paid	-	-13.1M	-114M	-123M	-164M
Common & Preferred Stock Dividends Paid	-	-13.1M	-114M	-123M	-164M
Other Financing Activities, Total	-70.1M	-33.8M	-32.9M	-30.8M	-54.3M
Cash from Financing	-316M	-89.2M	-352M	-316M	-202M
Foreign Exchange Rate Adjustments	-1.5M	-17.1M	-	-6.9M	-52.6M
Miscellaneous Cash Flow Adjustments	-	100K	-100K	-	100K
Net Change in Cash	-42.9M	257M	18.4M	-164M	144M
Supplemental Items
Cash Interest Paid	70.4M	31.6M	31.4M	28.1M	51.2M
Cash Income Tax Paid (Refund)	59.1M	60.2M	91.4M	106M	131M
Levered Free Cash Flow	295M	333M	150M	399M	681M
Unlevered Free Cash Flow	335M	356M	170M	415M	722M
Change In Net Working Capital	-71.3M	-71.7M	147M	-87.9M	-289M
Net Debt Issued / Repaid	-246M	-62.4M	1M	-167M	39.2M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	6.67	7.64	7.98	9.53	11.66
Return on Total Capital	9.81	11.12	11.65	14.59	18.48
Return On Equity %	53	42.03	36.2	38.09	46.92
Return on Common Equity	56.49	43.72	37.77	39.09	49.18
Margin Analysis
Gross Profit Margin %	20.97	22.39	23.62	24.6	26.9
SG&A Margin	6.67	6.38	6.54	5.8	5.52
EBITDA Margin %	23.82	26.01	26.77	27.58	29.66
EBITA Margin %	16.13	18.41	19.34	18.8	21.39
EBIT Margin %	13.73	16.01	17.08	18.8	21.39
Income From Continuing Operations Margin %	4.82	8.27	9.32	10.61	12.18
Net Income Margin %	4.47	7.97	9.07	10.2	12.04
Net Avail. For Common Margin %	4.47	7.97	9.07	10.2	12.04
Normalized Net Income Margin	6.24	8.82	9.7	10.46	12.04
Levered Free Cash Flow Margin	11.41	13.15	5.62	11.91	17.45
Unlevered Free Cash Flow Margin	12.97	14.06	6.34	12.39	18.5
Asset Turnover
Asset Turnover	0.78	0.76	0.75	0.81	0.87
Fixed Assets Turnover	2.07	1.96	2.03	2.26	2.29
Receivables Turnover (Average Receivables)	22.09	23.7	24.21	18.02	19.78
Inventory Turnover (Average Inventory)	4.38	4.67	5.16	5.37	4.57
Short Term Liquidity
Current Ratio	0.91	1.16	1.28	1.03	0.91
Quick Ratio	0.4	0.68	0.62	0.45	0.41
Operating Cash Flow to Current Liabilities	0.52	0.69	0.61	0.47	0.53
Days Sales Outstanding (Average Receivables)	16.52	15.44	15.08	20.26	18.45
Days Outstanding Inventory (Average Inventory)	83.33	78.3	70.7	67.96	79.84
Average Days Payable Outstanding	71.52	72.35	78.76	86.6	82.43
Cash Conversion Cycle (Average Days)	28.33	21.39	7.02	1.62	15.86
Long Term Solvency
Total Debt/Equity	431.34	303.7	220.86	165.18	194.02
Total Debt / Total Capital	81.18	75.23	68.83	62.29	65.99
LT Debt/Equity	377.5	271.56	196.2	146.36	168.02
Long-Term Debt / Total Capital	71.05	67.27	61.15	55.19	57.15
Total Liabilities / Total Assets	87.3	82.68	79.05	75.97	78.51
EBIT / Interest Expense	3.78	7.32	9.44	11.8	9.44
EBITDA / Interest Expense	6.77	12.22	15.15	17.31	13.1
(EBITDA - Capex) / Interest Expense	4.07	7.84	9.91	10.47	8.43
Total Debt / EBITDA	2.85	2.59	2.41	1.91	1.61
Net Debt / EBITDA	2.51	1.89	1.73	1.55	1.2
Total Debt / (EBITDA - Capex)	4.74	4.03	3.68	3.15	2.5
Net Debt / (EBITDA - Capex)	4.16	2.94	2.65	2.56	1.86
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	7.04	-1.93	5.45	25.34	16.48
Gross Profit, 1 Yr. Growth %	22.53	4.68	11.26	30.53	27.4
EBITDA, 1 Yr. Growth %	0.87	3.32	5.23	25.2	25.41
EBITA, 1 Yr. Growth %	12.58	12.08	10.92	37.64	32.8
EBIT, 1 Yr. Growth %	14.96	14.37	12.49	37.64	32.8
Earnings From Cont. Operations, 1 Yr. Growth %	156.91	68.22	18.94	42.64	33.66
Net Income, 1 Yr. Growth %	181.27	74.83	20.04	40.97	37.43
Normalized Net Income, 1 Yr. Growth %	38.62	38.61	15.98	35.19	33.96
Diluted EPS Before Extra, 1 Yr. Growth %	178.82	67	20.36	45.19	37.41
Accounts Receivable, 1 Yr. Growth %	-3.94	-13.43	22.46	105.92	-42.37
Inventory, 1 Yr. Growth %	-4.75	-15	4.5	32.77	32.54
Net Property, Plant and Equip., 1 Yr. Growth %	8.32	-0.83	4.86	19.09	11.6
Total Assets, 1 Yr. Growth %	-1.3	0.96	14.42	16.4	-0.71
Tangible Book Value, 1 Yr. Growth %