Cash flow Crest Nicholson Holdings plc

Equities

CRST

GB00B8VZXT93

Homebuilding

Market Closed - London S.E. Other stock markets 11:35:10 2024-09-10 EDT			5-day change	1st Jan Change
194.70 ^GBX	-1.17%		-5.30%	-10.36%

08-27	Deutsche Bank cuts Associated British Foods	AN
08-27	Stocks seen higher as UK shop prices decrease	AN

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Published financial data: CREST NICHOLSON HOLDINGS PLC

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: October	2019	2020	2021	2022	2023
Revenues	1.09B	678M	787M	914M	658M
Total Revenues	1.09B	678M	787M	914M	658M
Cost of Goods Sold, Total	884M	570M	620M	719M	557M
Gross Profit	202M	108M	167M	194M	101M
Selling General & Admin Expenses, Total	65.9M	53.3M	49.5M	50.8M	54M
Provision for Bad Debts	-	-	-	-	600K
Other Operating Expenses	-	-	-	-	800K
Other Operating Expenses, Total	65.9M	53.3M	49.5M	50.8M	55.4M
Operating Income	136M	54.4M	117M	144M	45.2M
Interest Expense, Total	-14.2M	-13.6M	-11.6M	-11.2M	-14.2M
Interest And Investment Income	3.6M	3.4M	3.4M	2.8M	3.6M
Net Interest Expenses	-10.6M	-10.2M	-8.2M	-8.4M	-10.6M
Income (Loss) On Equity Invest.	-900K	-500K	1.7M	2.5M	3.3M
Other Non Operating Income (Expenses)	-	-	-1M	-2.3M	-
EBT, Excl. Unusual Items	124M	43.7M	110M	135M	37.9M
Restructuring Charges	-	-7.5M	-	-	-500K
Gain (Loss) On Sale Of Investments	-3.4M	-7.9M	-	-	-
Asset Writedown	-	-43.2M	8M	-	-
Legal Settlements	-	-	-	-	-13M
Other Unusual Items	-18.4M	1.4M	-30.8M	-102M	-1.3M
EBT, Incl. Unusual Items	103M	-13.5M	86.9M	32.8M	23.1M
Income Tax Expense	20.2M	-2.8M	16M	6.4M	5.2M
Earnings From Continuing Operations	82.5M	-10.7M	70.9M	26.4M	17.9M
Net Income to Company	82.5M	-10.7M	70.9M	26.4M	17.9M
Net Income - (IS)	82.5M	-10.7M	70.9M	26.4M	17.9M
Net Income to Common Incl Extra Items	82.5M	-10.7M	70.9M	26.4M	17.9M
Net Income to Common Excl. Extra Items	82.5M	-10.7M	70.9M	26.4M	17.9M
Per Share Items
Net EPS - Basic	0.32	-0.04	0.28	0.1	0.07
Basic EPS - Continuing Operations	0.32	-0.04	0.28	0.1	0.07
Basic Weighted Average Shares Outstanding	257M	257M	257M	256M	256M
Net EPS - Diluted	0.32	-0.04	0.27	0.1	0.07
Diluted EPS - Continuing Operations	0.32	-0.04	0.27	0.1	0.07
Diluted Weighted Average Shares Outstanding	257M	257M	258M	258M	257M
Normalized Basic EPS	0.3	0.11	0.27	0.33	0.09
Normalized Diluted EPS	0.3	0.11	0.27	0.33	0.09
Dividend Per Share	0.11	-	0.14	0.17	0.17
Payout Ratio	102.67	-	14.81	145.83	243.58
American Depositary Receipts Ratio (ADR)	2	2	2	2	2
Supplemental Items
EBITDA	138M	58.8M	118M	144M	45.7M
EBITA	136M	54.4M	117M	144M	45.2M
EBIT	136M	54.4M	117M	144M	45.2M
EBITDAR	143M	-	-	-	-
Effective Tax Rate - (Ratio)	19.67	20.74	18.41	19.51	22.51
Current Domestic Taxes	17.6M	-3.5M	11.6M	6.1M	3.5M
Total Current Taxes	17.6M	-3.5M	11.6M	6.1M	3.5M
Deferred Domestic Taxes	2.6M	700K	4.4M	300K	1.7M
Total Deferred Taxes	2.6M	700K	4.4M	300K	1.7M
Normalized Net Income	77.81M	27.31M	68.56M	84.56M	23.69M
Interest on Long-Term Debt	-	900K	900K	800K	800K
Non-Cash Pension Expense	400K	500K	900K	600K	100K
Supplemental Operating Expense Items
General and Administrative Expenses	65.5M	52.8M	47.8M	50.2M	53.9M
Net Rental Expense, Total	4.2M	-	-	-	-
Imputed Operating Lease Interest Expense	3.14M	-	-	-	-
Imputed Operating Lease Depreciation	1.06M	-	-	-	-
Stock-Based Comp., Other (Total)	-400K	500K	1.8M	1.9M	1.5M
Total Stock-Based Compensation	-400K	500K	1.8M	1.9M	1.5M

Fiscal Period: October	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	171M	239M	351M	374M	163M
Trading Asset Securities, Total	1M	800K	1.1M	1.3M	1.1M
Total Cash And Short Term Investments	172M	240M	352M	375M	164M
Accounts Receivable, Total	126M	80.8M	81.5M	74.5M	63.3M
Other Receivables	15.4M	15.7M	25.4M	41M	66.7M
Notes Receivable	-	-	-	-	-
Total Receivables	142M	96.5M	107M	116M	130M
Inventory	1.15B	1.02B	1.04B	990M	1.16B
Prepaid Expenses	3.5M	2.1M	1.3M	1.9M	1.9M
Total Current Assets	1.47B	1.36B	1.5B	1.48B	1.46B
Gross Property Plant And Equipment	15.3M	34.6M	22.3M	22.2M	19.1M
Accumulated Depreciation	-9.2M	-26.6M	-17.4M	-17.6M	-10.8M
Net Property Plant And Equipment	6.1M	8M	4.9M	4.6M	8.3M
Long-term Investments	8.2M	8.3M	11M	12.3M	13.3M
Goodwill	29M	29M	29M	29M	29M
Accounts Receivable Long-Term	5M	5.5M	2.1M	9.7M	4.5M
Loans Receivable Long-Term	-	-	-	-	-
Deferred Tax Assets Long-Term	6.4M	8.4M	4.8M	4.8M	3.3M
Other Long-Term Assets, Total	53.5M	50.1M	59.1M	36.4M	11.5M
Total Assets	1.58B	1.47B	1.61B	1.58B	1.53B
Liabilities
Accounts Payable, Total	130M	112M	161M	207M	203M
Accrued Expenses, Total	240M	208M	255M	178M	125M
Current Portion of Long-Term Debt	1.9M	-	-	-	14.2M
Current Portion of Leases	-	2.3M	1.9M	1.6M	2M
Current Income Taxes Payable	3.2M	-	-	-	1.7M
Unearned Revenue Current, Total	32M	32.8M	25M	19M	5.7M
Other Current Liabilities	16M	16.5M	22.6M	75.5M	87.3M
Total Current Liabilities	423M	371M	466M	481M	439M
Long-Term Debt	132M	97.2M	97.9M	97.1M	83.5M
Long-Term Leases	-	4.7M	2.7M	2.3M	4.4M
Unearned Revenue Non Current	1.6M	-	-	300K	300K
Pension & Other Post Retirement Benefits	6.2M	13.8M	-	-	-
Deferred Tax Liability Non Current	-	-	4.1M	3.2M	2.5M
Other Non Current Liabilities	160M	155M	136M	112M	145M
Total Liabilities	722M	642M	707M	696M	674M
Common Stock, Total	12.8M	12.8M	12.8M	12.8M	12.8M
Additional Paid In Capital	74.2M	74.2M	74.2M	74.2M	74.2M
Retained Earnings	767M	744M	815M	796M	769M
Total Common Equity	854M	831M	902M	883M	856M
Total Equity	854M	831M	902M	883M	856M
Total Liabilities And Equity	1.58B	1.47B	1.61B	1.58B	1.53B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	257M	257M	257M	256M	256M
ECS Total Common Shares Outstanding	257M	257M	257M	256M	256M
Book Value / Share	3.33	3.24	3.51	3.45	3.34
Tangible Book Value	825M	802M	873M	854M	827M
Tangible Book Value Per Share	3.21	3.12	3.4	3.33	3.23
Total Debt	133M	104M	102M	101M	104M
Net Debt	-38.2M	-136M	-249M	-274M	-59.6M
Debt Equivalent of Unfunded Proj. Benefit Obligation	6.2M	13.8M	-16.7M	-11.1M	-10M
Debt Equivalent Oper. Leases	33.6M	-	-	-	-
Equity Method Investments, Total	2M	3.7M	6.8M	9M	10.7M
Account Code - Inventory Valuation	3	3	3	3	3
Inventories - Work In Process, Total	917M	897M	966M	943M	1.04B
Inventories - Finished Goods, Total	207M	107M	57.7M	30.1M	89.6M
Inventories - Others	26.8M	20.9M	14.1M	17.2M	34.5M
Machinery, Total	15.3M	14M	5M	4.6M	5.7M
Full Time Employees	966	657	700	797	778
Accumulated Allowance for Doubtful Accounts (Supple)	-	100K	100K	300K	700K

Fiscal Period: October	2019	2020	2021	2022	2023
Net Income	82.5M	-10.7M	70.9M	26.4M	17.9M
Depreciation & Amortization - CF	2.5M	7.1M	3.4M	2.3M	2.8M
Depreciation & Amortization, Total	2.5M	7.1M	3.4M	2.3M	2.8M
Amortization of Deferred Charges, Total - (CF)	700K	700K	700K	700K	600K
(Gain) Loss on Sale of Investments - (CF)	-	7.9M	-	-	-
Asset Writedown & Restructuring Costs	-	28.5M	-12M	-10.5M	-800K
(Income) Loss On Equity Investments - (CF)	900K	500K	-1.7M	-2.5M	-3.3M
Stock-Based Compensation (CF)	-400K	500K	1.8M	1.9M	1.5M
Provision and Write-off of Bad Debts	-	-	-	-	600K
Other Operating Activities, Total	-4.8M	-3.3M	-300K	11.7M	3.8M
Change In Accounts Receivable	-11.5M	45.8M	4.8M	-17M	27M
Change In Inventories	62.1M	96.8M	-3.4M	55.5M	-182M
Change In Accounts Payable	2.2M	-52.9M	73.5M	-13.4M	-31.9M
Change in Other Net Operating Assets	-9M	-6.7M	-11.2M	-3.4M	-1.5M
Cash from Operations	125M	114M	126M	51.7M	-166M
Capital Expenditure	-3.8M	-300K	-200K	-100K	-1.8M
Investment in Marketable and Equity Securities, Total	-15.1M	-4.2M	-500K	12M	-400K
Net (Increase) Decrease in Loans Originated / Sold - Investing	3.5M	-	-	-	-
Other Investing Activities, Total	600K	300K	100K	2.5M	3.8M
Cash from Investing	-14.8M	-4.2M	-600K	14.4M	1.6M
Long-Term Debt Issued, Total	-	-	-	-	-
Total Debt Issued	-	-	-	-	-
Long-Term Debt Repaid, Total	-36.9M	-39.8M	-2.7M	-2.1M	-2.4M
Total Debt Repaid	-36.9M	-39.8M	-2.7M	-2.1M	-2.4M
Issuance of Common Stock	1.9M	400K	200K	-	-
Repurchase of Common Stock	-3.8M	-1.8M	-1.6M	-1.1M	-1M
Common Dividends Paid	-84.7M	-	-10.5M	-38.5M	-43.6M
Common & Preferred Stock Dividends Paid	-84.7M	-	-10.5M	-38.5M	-43.6M
Other Financing Activities, Total	-600K	-	-	-1.5M	-
Cash from Financing	-124M	-41.2M	-14.6M	-43.2M	-47M
Net Change in Cash	-13.7M	68.8M	111M	22.9M	-211M
Supplemental Items
Cash Interest Paid	11.1M	8.7M	6.9M	6.3M	5.6M
Cash Income Tax Paid (Refund)	24.2M	3.1M	13.9M	1.4M	14.3M
Levered Free Cash Flow	93.22M	154M	138M	141M	-224M
Unlevered Free Cash Flow	101M	162M	144M	147M	-215M
Change In Net Working Capital	-18.1M	-121M	-66M	-53.3M	246M
Net Debt Issued / Repaid	-36.9M	-39.8M	-2.7M	-2.1M	-2.4M

Fiscal Period: October	2019	2020	2021	2022	2023
Profitability
Return on Assets	5.32	2.23	4.76	5.63	1.82
Return on Total Capital	8.37	3.54	7.58	9.02	2.91
Return On Equity %	9.55	-1.27	8.21	2.96	2.06
Return on Common Equity	9.55	-1.27	8.21	2.96	2.06
Margin Analysis
Gross Profit Margin %	18.58	15.89	21.19	21.27	15.3
SG&A Margin	6.07	7.86	6.29	5.56	8.21
EBITDA Margin %	12.75	8.67	15.03	15.75	6.95
EBITA Margin %	12.52	8.02	14.9	15.71	6.87
EBIT Margin %	12.52	8.02	14.9	15.71	6.87
Income From Continuing Operations Margin %	7.59	-1.58	9.01	2.89	2.72
Net Income Margin %	7.59	-1.58	9.01	2.89	2.72
Net Avail. For Common Margin %	7.59	-1.58	9.01	2.89	2.72
Normalized Net Income Margin	7.16	4.03	8.72	9.26	3.6
Levered Free Cash Flow Margin	8.58	22.73	17.51	15.41	-34
Unlevered Free Cash Flow Margin	9.33	23.88	18.34	16.1	-32.74
Asset Turnover
Asset Turnover	0.68	0.44	0.51	0.57	0.42
Fixed Assets Turnover	199.34	96.16	121.95	192.34	101.94
Receivables Turnover (Average Receivables)	9.9	6.54	9.69	11.71	9.54
Inventory Turnover (Average Inventory)	0.75	0.52	0.6	0.71	0.52
Short Term Liquidity
Current Ratio	3.47	3.68	3.21	3.08	3.33
Quick Ratio	0.74	0.91	0.98	1.02	0.67
Operating Cash Flow to Current Liabilities	0.3	0.31	0.27	0.11	-0.38
Days Sales Outstanding (Average Receivables)	36.86	55.93	37.66	31.16	38.25
Days Outstanding Inventory (Average Inventory)	487.83	698.4	605.06	514.44	706.18
Average Days Payable Outstanding	56.43	99.6	77.88	99.98	102.15
Cash Conversion Cycle (Average Days)	468.25	654.73	564.83	445.62	642.27
Long Term Solvency
Total Debt/Equity	15.61	12.54	11.37	11.44	12.16
Total Debt / Total Capital	13.5	11.14	10.21	10.26	10.84
LT Debt/Equity	15.39	12.26	11.16	11.26	10.26
Long-Term Debt / Total Capital