Cash flow BRITVIC

Equities

BVIC

GB00B0N8QD54

Delayed London S.E. Other stock markets 02:30:00 2025-01-17 EST			5-day change	1st Jan Change
1,313.00 ^GBX	-.--%		+0.23%	+0.31%

01-20	Britvic Delists from London Bourse	MT
01-17	Carlsberg completes GBP3.3 billion takeover of Britvic	AN

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Published financial data: BRITVIC

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: September	2020	2021	2022	2023	2024
Revenues	1.41B	1.41B	1.62B	1.75B	1.9B
Total Revenues	1.41B	1.41B	1.62B	1.75B	1.9B
Cost of Goods Sold, Total	852M	822M	952M	1.05B	1.09B
Gross Profit	561M	583M	666M	700M	810M
Selling General & Admin Expenses, Total	422M	422M	474M	518M	606M
Other Operating Expenses, Total	422M	422M	474M	518M	606M
Operating Income	139M	161M	192M	182M	204M
Interest Expense, Total	-19.8M	-18.5M	-17.7M	-25.5M	-32.3M
Interest And Investment Income	1.5M	900K	700K	1.1M	3.6M
Net Interest Expenses	-18.3M	-17.6M	-17M	-24.4M	-28.7M
Other Non Operating Income (Expenses)	-600K	-100K	-300K	-300K	-2.1M
EBT, Excl. Unusual Items	120M	143M	175M	157M	173M
Restructuring Charges	-	-	-	-	-
Merger & Related Restructuring Charges	-	-	-	-	-
Impairment of Goodwill	-4.2M	-	-	-	-
Gain (Loss) On Sale Of Assets	-400K	-	-	-	-
Asset Writedown	-3.9M	-	-	-	-
Other Unusual Items	-200K	-100K	-	-	-
EBT, Incl. Unusual Items	111M	143M	175M	157M	173M
Income Tax Expense	16.6M	39.7M	34.9M	32.8M	47.4M
Earnings From Continuing Operations	94.6M	103M	140M	124M	126M
Net Income to Company	94.6M	103M	140M	124M	126M
Net Income - (IS)	94.6M	103M	140M	124M	126M
Net Income to Common Incl Extra Items	94.6M	103M	140M	124M	126M
Net Income to Common Excl. Extra Items	94.6M	103M	140M	124M	126M
Per Share Items
Net EPS - Basic	0.36	0.39	0.53	0.48	0.51
Basic EPS - Continuing Operations	0.36	0.39	0.53	0.48	0.51
Basic Weighted Average Shares Outstanding	266M	267M	266M	257M	248M
Net EPS - Diluted	0.35	0.39	0.52	0.48	0.5
Diluted EPS - Continuing Operations	0.35	0.39	0.52	0.48	0.5
Diluted Weighted Average Shares Outstanding	267M	267M	267M	259M	251M
Normalized Basic EPS	0.28	0.33	0.41	0.38	0.44
Normalized Diluted EPS	0.28	0.33	0.41	0.38	0.43
Dividend Per Share	0.22	0.24	0.29	0.31	0.1
Payout Ratio	60.89	72.48	48.43	60.89	62.88
American Depositary Receipts Ratio (ADR)	2	2	2	2	2
Supplemental Items
EBITDA	191M	212M	242M	235M	264M
EBITA	148M	169M	201M	190M	215M
EBIT	139M	161M	192M	182M	204M
EBITDAR	-	-	-	-	-
Effective Tax Rate - (Ratio)	14.93	27.78	19.93	20.92	27.37
Total Current Taxes	15.5M	20.3M	15.3M	28.6M	40.6M
Total Deferred Taxes	1.1M	19.4M	19.6M	4.2M	6.8M
Normalized Net Income	74.94M	89.38M	109M	98M	108M
Interest on Long-Term Debt	2.1M	1.9M	2.1M	1.9M	2.1M
Non-Cash Pension Expense	-2.5M	-1.4M	-2.9M	14.6M	-3.6M
Supplemental Operating Expense Items
Advertising Expense	10.2M	8.3M	10.3M	11.8M	18M
Selling and Marketing Expenses	239M	230M	277M	283M	321M
General and Administrative Expenses	183M	192M	196M	235M	285M
Research And Development Expense From Footnotes	7.9M	7.2M	8.5M	5.9M	6.8M
Net Rental Expense, Total	-	-	-	-	-
Imputed Operating Lease Interest Expense	-	-	-	-	-
Imputed Operating Lease Depreciation	-	-	-	-	-
Stock-Based Comp., Other (Total)	600K	4.5M	4.2M	9.3M	15.1M
Total Stock-Based Compensation	600K	4.5M	4.2M	9.3M	15.1M

Fiscal Period: September	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	109M	71.1M	87.6M	79.2M	52.8M
Short Term Investments	-	-	-	10.9M	11.3M
Trading Asset Securities, Total	10.3M	900K	11.8M	10M	1.3M
Total Cash And Short Term Investments	120M	72M	99.4M	100M	65.4M
Accounts Receivable, Total	295M	336M	400M	377M	384M
Other Receivables	29.4M	24.9M	28.8M	23.6M	15.4M
Total Receivables	324M	361M	428M	401M	400M
Inventory	118M	135M	172M	210M	203M
Prepaid Expenses	24.2M	22.4M	27.7M	30M	22M
Other Current Assets, Total	32.1M	19.9M	47M	24.2M	11.6M
Total Current Assets	619M	610M	774M	765M	702M
Gross Property Plant And Equipment	994M	1.03B	1.12B	1.12B	1.08B
Accumulated Depreciation	-453M	-490M	-539M	-526M	-463M
Net Property Plant And Equipment	541M	544M	583M	596M	615M
Long-term Investments	25.2M	19.7M	34.5M	14.7M	9.5M
Goodwill	195M	198M	204M	212M	216M
Other Intangibles, Total	215M	221M	212M	222M	224M
Accounts Receivable Long-Term	-	-	-	-	3M
Deferred Tax Assets Long-Term	4.8M	4M	4.4M	4.2M	7.9M
Other Long-Term Assets, Total	108M	150M	156M	83.4M	76.6M
Total Assets	1.71B	1.75B	1.97B	1.9B	1.85B
Liabilities
Accounts Payable, Total	214M	268M	354M	396M	319M
Accrued Expenses, Total	242M	264M	283M	244M	250M
Short-term Borrowings	-	-	-	48.9M	16.5M
Current Portion of Long-Term Debt	80.1M	2.2M	43.2M	50.9M	43.5M
Current Portion of Leases	9.6M	8.9M	8.6M	7.5M	9.2M
Current Income Taxes Payable	2.4M	1.4M	200K	100K	500K
Other Current Liabilities	34M	20.4M	32.2M	34.6M	64.1M
Total Current Liabilities	583M	565M	721M	782M	703M
Long-Term Debt	589M	578M	563M	551M	621M
Long-Term Leases	70.2M	66.2M	65.3M	59.8M	62.3M
Pension & Other Post Retirement Benefits	10.7M	9.6M	1.4M	1.4M	1.6M
Deferred Tax Liability Non Current	69.4M	101M	123M	111M	112M
Other Non Current Liabilities	8.8M	6.7M	6.8M	1.3M	10.9M
Total Liabilities	1.33B	1.33B	1.48B	1.51B	1.51B
Common Stock, Total	53.4M	53.5M	52.7M	50.9M	49.8M
Additional Paid In Capital	154M	156M	157M	157M	157M
Retained Earnings	112M	158M	179M	126M	124M
Treasury Stock	-3.7M	-1.5M	-7.2M	-21.4M	-23.4M
Comprehensive Income and Other	59.8M	53.7M	106M	78.8M	35.7M
Total Common Equity	376M	420M	488M	392M	343M
Total Equity	376M	420M	488M	392M	343M
Total Liabilities And Equity	1.71B	1.75B	1.97B	1.9B	1.85B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	267M	267M	263M	252M	247M
ECS Total Common Shares Outstanding	267M	267M	263M	252M	247M
Book Value / Share	1.41	1.57	1.86	1.55	1.39
Tangible Book Value	-33.9M	2M	71.6M	-42.6M	-97.1M
Tangible Book Value Per Share	-0.13	0.01	0.27	-0.17	-0.39
Total Debt	749M	655M	680M	718M	752M
Net Debt	630M	583M	581M	618M	687M
Debt Equivalent of Unfunded Proj. Benefit Obligation	-91.1M	-132M	-138M	-72.6M	-73.3M
Debt Equivalent Oper. Leases	-	-	-	-	-
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	62M	66.5M	93.3M	101M	85.8M
Inventories - Finished Goods, Total	55.3M	67.3M	77.5M	108M	116M
Inventories - Others	1.2M	1.2M	1.2M	1.2M	1.6M
Land - (BS)	213M	213M	218M	231M	223M
Machinery, Total	680M	691M	775M	741M	748M
Full Time Employees	4.46K	4.21K	4.35K	4.43K	5K
Accumulated Allowance for Doubtful Accounts (Supple)	6M	7.7M	8.4M	8.6M	-

Fiscal Period: September	2020	2021	2022	2023	2024
Net Income	94.6M	103M	140M	124M	126M
Depreciation & Amortization - CF	54M	53.2M	51.8M	54.9M	58.6M
Amortization of Goodwill and Intangible Assets - (CF)	8.8M	8.2M	8.4M	8.3M	11.1M
Depreciation & Amortization, Total	62.8M	61.4M	60.2M	63.2M	69.7M
Amortization of Deferred Charges, Total - (CF)	7.1M	6.6M	7.2M	7.3M	8M
(Gain) Loss From Sale Of Asset	5.6M	2.8M	900K	3.2M	7.7M
Asset Writedown & Restructuring Costs	7.6M	-	-	3.8M	-3.6M
Stock-Based Compensation (CF)	100K	3.8M	4.2M	9.3M	15M
Other Operating Activities, Total	4M	38.4M	28.2M	44.2M	49.2M
Change In Accounts Receivable	22.4M	-44.2M	-56.4M	16.3M	-12M
Change In Inventories	11.9M	-15.4M	-26M	-37.8M	-5M
Change In Accounts Payable	-45.3M	74.2M	84.3M	5.8M	-54.1M
Change in Other Net Operating Assets	-2M	1.5M	-3.2M	-900K	-9.8M
Cash from Operations	169M	232M	240M	238M	191M
Capital Expenditure	-43.7M	-56.4M	-72.9M	-69.8M	-63.4M
Sale of Property, Plant, and Equipment	-	100K	-	-	-
Cash Acquisitions	-2.2M	-31.2M	-	-24.8M	-24.1M
Divestitures	13.2M	-	-	-	-
Sale (Purchase) of Intangible assets	-6.3M	-17.3M	-11.7M	-8.1M	-7.3M
Investment in Marketable and Equity Securities, Total	-	-	-	600K	-400K
Other Investing Activities, Total	700K	600K	200K	1.8M	4M
Cash from Investing	-38.3M	-104M	-84.4M	-100M	-91.2M
Long-Term Debt Issued, Total	152M	-	-	45.5M	-
Total Debt Issued	152M	-	-	45.5M	-
Long-Term Debt Repaid, Total	-144M	-74.2M	-9.3M	-38.7M	-83.4M
Total Debt Repaid	-144M	-74.2M	-9.3M	-38.7M	-83.4M
Issuance of Common Stock	6.7M	2.2M	1M	2.3M	156M
Repurchase of Common Stock	-2.8M	-	-45.7M	-94M	-58.3M
Common Dividends Paid	-57.6M	-74.8M	-67.9M	-75.5M	-79.1M
Common & Preferred Stock Dividends Paid	-57.6M	-74.8M	-67.9M	-75.5M	-79.1M
Other Financing Activities, Total	-23.7M	-16.3M	-18M	-23.2M	-28.6M
Cash from Financing	-68.8M	-163M	-140M	-184M	-93.4M
Foreign Exchange Rate Adjustments	-1.5M	-3.1M	1.2M	-300K	-300K
Net Change in Cash	60.2M	-38.1M	16.5M	-45.8M	6M
Supplemental Items
Cash Interest Paid	18.6M	17.3M	16.9M	23M	28M
Cash Income Tax Paid (Refund)	21.7M	15.4M	18.4M	21.9M	34.5M
Levered Free Cash Flow	86.38M	109M	74.79M	115M	118M
Unlevered Free Cash Flow	98.75M	121M	85.85M	131M	138M
Change In Net Working Capital	8.5M	-21.5M	21.4M	-15.4M	11.8M
Net Debt Issued / Repaid	8.6M	-74.2M	-9.3M	6.8M	-83.4M

Fiscal Period: September	2020	2021	2022	2023	2024
Profitability
Return on Assets	5.03	5.83	6.5	5.85	6.8
Return on Total Capital	7.79	9.13	10.77	9.92	11.56
Return On Equity %	23.92	25.94	31.2	28.19	34.24
Return on Common Equity	23.92	25.94	31.2	28.19	34.24
Margin Analysis
Gross Profit Margin %	39.71	41.49	41.15	40	42.64
SG&A Margin	29.88	30.05	29.26	29.62	31.9
EBITDA Margin %	13.49	15.06	14.94	13.42	13.88
EBITA Margin %	10.45	12.02	12.41	10.85	11.33
EBIT Margin %	9.83	11.44	11.89	10.38	10.74
Income From Continuing Operations Margin %	6.7	7.34	8.66	7.09	6.62
Net Income Margin %	6.7	7.34	8.66	7.09	6.62
Net Avail. For Common Margin %	6.7	7.34	8.66	7.09	6.62
Normalized Net Income Margin	5.31	6.36	6.76	5.6	5.7
Levered Free Cash Flow Margin	6.12	7.77	4.62	6.57	6.19
Unlevered Free Cash Flow Margin	6.99	8.59	5.3	7.48	7.26
Asset Turnover
Asset Turnover	0.82	0.82	0.87	0.9	1.01
Fixed Assets Turnover	2.73	2.59	2.87	2.97	3.13
Receivables Turnover (Average Receivables)	4.61	4.45	4.4	4.5	4.99
Inventory Turnover (Average Inventory)	6.56	6.49	6.2	5.5	5.28
Short Term Liquidity
Current Ratio	1.06	1.08	1.07	0.98	1
Quick Ratio	0.76	0.77	0.73	0.64	0.66
Operating Cash Flow to Current Liabilities	0.29	0.41	0.33	0.3	0.27
Days Sales Outstanding (Average Receivables)	79.65	81.96	82.96	81.08	73.4
Days Outstanding Inventory (Average Inventory)	55.92	56.27	58.83	66.42	69.34
Average Days Payable Outstanding	106.1	104.89	114.64	125.9	120.88
Cash Conversion Cycle (Average Days)	29.47	33.34	27.14	21.6	21.86
Long Term Solvency
Total Debt/Equity	199.49	155.79	139.39	183.33	219.24
Total Debt / Total Capital	66.61	60.91	58.23	64.71	68.68
LT Debt/Equity	175.61	153.15	128.77	155.94	199.07
Long-Term Debt / Total Capital	58.63	59.87	53.79	55.04	62.36
Total Liabilities / Total Assets	78	75.92	75.21	79.36	81.49
EBIT / Interest Expense	7.01	8.69	10.87	7.12	6.32
EBITDA / Interest Expense	10.18	12.01	14.27	9.6	8.47
(EBITDA - Capex) / Interest Expense	7.97	8.96	10.15	6.86	6.51
Total Debt / EBITDA	3.72	2.95	2.69	2.93	2.75
Net Debt / EBITDA	3.12	2.62	2.3	2.53	2.51
Total Debt / (EBITDA - Capex)	4.74	3.95	3.79	4.11	3.58
Net Debt / (EBITDA - Capex)	3.99	3.52	3.23	3.53	3.27
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-8.58	-0.52	15.17	8.05	8.6
Gross Profit, 1 Yr. Growth %	-13.31	3.96	14.22	5.05	15.77
EBITDA, 1 Yr. Growth %	-14.68	11.02	18.89	-2.94	12.32
EBITA, 1 Yr. Growth %	-14.04	14.43	25.03	-5.48	13.33
EBIT, 1 Yr. Growth %	-13.9	15.78	26.25	-5.67	12.4
Earnings From Cont. Operations, 1 Yr. Growth %	16.93	9.09	45.28	-11.56	1.45
Net Income, 1 Yr. Growth %	16.93	9.09	45.28	-11.56	1.45
Normalized Net Income, 1 Yr. Growth %	-15.27	19.27	29.99	-10.45	10.46
Diluted EPS Before Extra, 1 Yr. Growth %	16.83	9.04	45.43	-8.76	4.8
Accounts Receivable, 1 Yr. Growth %	-7.26	13.9	18.93	-5.58	1.88
Inventory, 1 Yr. Growth %	-15.96	13.92	27.41	21.98	-3.29
Net Property, Plant and Equip., 1 Yr. Growth %	9.47	0.61	7.08	2.37	3.14
Total Assets, 1 Yr. Growth %	-1.99	2.65	13.54	-4.07	-2.32
Tangible Book Value, 1 Yr. Growth %	173.39	-107.14	1.6K	-159.5	127.93
Common Equity, 1 Yr. Growth %	-9.61	11.93	18.82	-19.73	-12.41
Cash From Operations, 1 Yr. Growth %	-8.81	37.62	6.35	-0.5	-19.92
Capital Expenditures, 1 Yr. Growth %	-35.16	29.06	29.26	-4.25	-9.17
Levered Free Cash Flow, 1 Yr. Growth %	15.46	26.54	-32.62	53.5	2.45
Unlevered Free Cash Flow, 1 Yr. Growth %	12.54	22.39	-29.95	52.29	5.4
Dividend Per Share, 1 Yr. Growth %	-28	12.04	19.83	6.21	-69.16
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-3.08	-4.64	7.04	11.56	8.33
Gross Profit, 2 Yr. CAGR %	-16.36	-5.07	8.97	9.54	10.28
EBITDA, 2 Yr. CAGR %	-5.65	-2.68	12.61	7.42	4.41
EBITA, 2 Yr. CAGR %	-5.59	-0.82	16.64	8.71	3.5
EBIT, 2 Yr. CAGR %	-5.25	-0.16	17.74	9.13	2.97
Earnings From Cont. Operations, 2 Yr. CAGR %	-10.12	12.94	21.74	13.36	-5.27
Net Income, 2 Yr. CAGR %	-10.12	12.94	21.74	13.36	-5.27
Normalized Net Income, 2 Yr. CAGR %	-5.51	0.53	20.85	7.89	-0.54
Diluted EPS Before Extra, 2 Yr. CAGR %	-10.41	12.87	21.78	15.19	-2.22
Accounts Receivable, 2 Yr. CAGR %	-2.98	2.78	16.39	5.97	-1.92
Inventory, 2 Yr. CAGR %	-9.44	-2.15	20.48	24.66	8.61
Net Property, Plant and Equip., 2 Yr. CAGR %	2	4.95	3.79	4.7	2.75
Total Assets, 2 Yr. CAGR %	-1.54	0.13	7.59	4.62	-3.2
Tangible Book Value, 2 Yr. CAGR %	-26.17	-59.84	59.91	218.48	16.45
Common Equity, 2 Yr. CAGR %	-0.24	0.59	14	-2.34	-16.15
Cash From Operations, 2 Yr. CAGR %	-9.65	12.03	19.14	2.87	-10.74
Capital Expenditures, 2 Yr. CAGR %	-43.38	-8.52	29.16	11.25	-6.74
Levered Free Cash Flow, 2 Yr. CAGR %	121.61	20.8	-6.9	1.7	25.4
Unlevered Free Cash Flow, 2 Yr. CAGR %	380.62	17.3	-6.71	3.29	26.69
Dividend Per Share, 2 Yr. CAGR %	-12.48	-10.19	15.87	12.82	-42.76
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-0.42	-2.23	1.56	7.38	10.56
Gross Profit, 3 Yr. CAGR %	-9.77	-10.07	0.97	7.64	11.58
EBITDA, 3 Yr. CAGR %	-2.37	-0.39	2.66	7.17	9.03
EBITA, 3 Yr. CAGR %	-3.55	0.66	5.36	8.74	10.23
EBIT, 3 Yr. CAGR %	-3.36	1.3	6.08	9.35	10.21
Earnings From Cont. Operations, 3 Yr. CAGR %	-5.36	-4.12	20.12	9.44	9.24
Net Income, 3 Yr. CAGR %	-5.36	-4.12	20.12	9.44	9.24
Normalized Net Income, 3 Yr. CAGR %	-3.83	2.11	7.36	9.36	8.74
Diluted EPS Before Extra, 3 Yr. CAGR %	-5.69	-4.34	20.11	10.61	11.62
Accounts Receivable, 3 Yr. CAGR %	1.31	2.35	7.9	8.55	4.59
Inventory, 3 Yr. CAGR %	-6.87	-2.24	6.85	20.98	14.55
Net Property, Plant and Equip., 3 Yr. CAGR %	5.42	1.53	5.65	3.32	4.17
Total Assets, 3 Yr. CAGR %	1.9	-0.28	4.17	3.72	2.26
Tangible Book Value, 3 Yr. CAGR %	-33.58	-68.2	79.4	15.01	184.88
Common Equity, 3 Yr. CAGR %	3.44	3.66	5.52	1.42	-5.82
Cash From Operations, 3 Yr. CAGR %	-5.18	3.95	8.98	12.2	-5.37
Capital Expenditures, 3 Yr. CAGR %	-32.13	-25.48	2.65	16.89	3.98
Levered Free Cash Flow, 3 Yr. CAGR %	59.65	83.78	-0.01	9.99	1.95
Unlevered Free Cash Flow, 3 Yr. CAGR %	43.06	204.53	-0.73	9.84	3.99
Dividend Per Share, 3 Yr. CAGR %	-6.59	-4.97	-1.12	12.56	-26.78
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	1.67	-0.37	2.5	3.07	4.21
Gross Profit, 5 Yr. CAGR %	-4.84	-5.46	-2.69	-2.69	4.59
EBITDA, 5 Yr. CAGR %	-1.02	-0.52	3.37	1.85	3.36
EBITA, 5 Yr. CAGR %	-2.87	-1.7	4.07	2.77	4.61
EBIT, 5 Yr. CAGR %	-3.76	-1.85	4.58	3.26	4.82
Earnings From Cont. Operations, 5 Yr. CAGR %	-1.84	-2.06	4.67	1.15	9.23
Net Income, 5 Yr. CAGR %	-1.84	-2.06	4.67	1.15	9.23
Normalized Net Income, 5 Yr. CAGR %	-4.27	-1.7	5.37	3.15	4.13
Diluted EPS Before Extra, 5 Yr. CAGR %	-2.99	-2.36	4.46	1.67	10.62
Accounts Receivable, 5 Yr. CAGR %	1.85	3.82	7.09	3.78	3.86
Inventory, 5 Yr. CAGR %	6.45	3.68	3.23	7.74	7.55
Net Property, Plant and Equip., 5 Yr. CAGR %	17.24	7.31	4.77	2.79	4.48
Total Assets, 5 Yr. CAGR %	5.61	1.33	4.07	1.52	1.26
Tangible Book Value, 5 Yr. CAGR %	-18.33	-57.05	-9.15	-7.29	50.92
Common Equity, 5 Yr. CAGR %	12.13	8.39	7.54	0.75	-3.75
Cash From Operations, 5 Yr. CAGR %	0.23	11.83	3.89	2.88	0.62
Capital Expenditures, 5 Yr. CAGR %	-4.18	-13.16	-12.21	-12.53	-1.22
Levered Free Cash Flow, 5 Yr. CAGR %	-5.01	75.88	28.65	45.53	9.47
Unlevered Free Cash Flow, 5 Yr. CAGR %	-4.4	74.56	20.55	98.2	9.45
Dividend Per Share, 5 Yr. CAGR %	-1.25	-0.25	1.82	1.78	-20.55