Cash flow D'Ieteren Group

Equities

DIE

BE0974259880

Auto Vehicles, Parts & Service Retailers

Market Closed - Euronext Bruxelles Other stock markets 11:39:42 2024-09-10 EDT			After market 13:40:00
210.40 ^EUR	-6.90%		209.60	-0.38%

04:52pm	D’IETEREN GROUP : Family shareholding consolidation improves cash return for everyone
01:32pm	Four steps back, one step forward

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Published financial data: D'IETEREN GROUP

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	3.8B	3.32B	3.36B	4.71B	7.98B
Total Revenues	3.8B	3.32B	3.36B	4.71B	7.98B
Cost of Goods Sold, Total	3.3B	2.88B	2.88B	3.74B	6.18B
Gross Profit	496M	441M	479M	971M	1.81B
Selling General & Admin Expenses, Total	380M	367M	355M	757M	1.46B
Other Operating Expenses	-6.2M	39.5M	16.7M	-8.4M	-27.5M
Other Operating Expenses, Total	374M	406M	372M	748M	1.43B
Operating Income	122M	34.1M	108M	222M	374M
Interest Expense, Total	-5.6M	-5.1M	-4.6M	-39.6M	-96.7M
Interest And Investment Income	1.4M	5.1M	-	-	24.1M
Net Interest Expenses	-4.2M	0	-4.6M	-39.6M	-72.6M
Income (Loss) On Equity Invest.	93.2M	150M	188M	210M	357M
Other Non Operating Income (Expenses)	-2.9M	-1.7M	1.5M	6.6M	-45.6M
EBT, Excl. Unusual Items	208M	182M	293M	399M	613M
Restructuring Charges	-2.5M	-3.2M	-21.8M	-	-
Merger & Related Restructuring Charges	-	-	-	-18.6M	-
Impairment of Goodwill	-102M	-21M	-	-	-
Gain (Loss) On Sale Of Investments	-	-	12.4M	10.2M	-
Gain (Loss) On Sale Of Assets	-10.1M	100K	100K	3.4M	-
Asset Writedown	-	-	-	-	-
Other Unusual Items	-	-	-	-	-
EBT, Incl. Unusual Items	93.2M	158M	283M	394M	613M
Income Tax Expense	28.7M	17.4M	28M	58.5M	103M
Earnings From Continuing Operations	64.5M	141M	255M	336M	510M
Earnings Of Discontinued Operations	-	-	-	2.9M	-
Net Income to Company	64.5M	141M	255M	339M	510M
Minority Interest	-	1.1M	1.1M	-100K	-5.6M
Net Income - (IS)	64.5M	142M	256M	339M	505M
Preferred Dividend and Other Adjustments	700K	1.6M	3M	3.9M	5.9M
Net Income to Common Incl Extra Items	63.8M	140M	254M	335M	499M
Net Income to Common Excl. Extra Items	63.8M	140M	254M	332M	499M
Per Share Items
Net EPS - Basic	1.18	2.62	4.75	6.29	9.41
Basic EPS - Continuing Operations	1.18	2.62	4.75	6.23	9.41
Basic Weighted Average Shares Outstanding	53.97M	53.59M	53.37M	53.23M	53.02M
Net EPS - Diluted	1.18	2.6	4.7	6.22	9.34
Diluted EPS - Continuing Operations	1.18	2.6	4.7	6.17	9.34
Diluted Weighted Average Shares Outstanding	54.26M	53.97M	53.89M	53.81M	53.42M
Normalized Basic EPS	2.41	2.15	3.45	4.69	7.12
Normalized Diluted EPS	2.4	2.13	3.42	4.64	7.07
Dividend Per Share	1	1.35	2.1	3	3.75
Payout Ratio	84.96	37.98	28.42	33.55	31.84
American Depositary Receipts Ratio (ADR)	0.5	0.5	0.5	0.5	0.5
Supplemental Items
EBITDA	164M	81M	136M	311M	481M
EBITA	129M	42.6M	116M	243M	431M
EBIT	122M	34.1M	108M	222M	374M
EBITDAR	-	-	-	-	-
Effective Tax Rate - (Ratio)	30.79	11	9.88	14.84	16.74
Total Current Taxes	41.1M	17.8M	32.2M	-	112M
Total Deferred Taxes	-11.4M	-300K	-5M	-	-8.9M
Normalized Net Income	130M	115M	184M	249M	377M
Interest on Long-Term Debt	26.5M	-	-	-	-
Non-Cash Pension Expense	300K	-2.7M	0	-	1.2M
Supplemental Operating Expense Items
Research And Development Expense From Footnotes	12M	15.75M	25.22M	-	54M
Net Rental Expense, Total	-	-	-	-	-
Imputed Operating Lease Interest Expense	-	-	-	-	-
Imputed Operating Lease Depreciation	-	-	-	-	-
Stock-Based Comp., Other (Total)	2.3M	1.8M	7M	24.1M	56.1M
Total Stock-Based Compensation	2.3M	1.8M	7M	24.1M	56.1M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	722M	351M	355M	346M	758M
Short Term Investments	543M	737M	544M	129M	238M
Trading Asset Securities, Total	-	-	-	-	-
Total Cash And Short Term Investments	1.27B	1.09B	899M	474M	996M
Accounts Receivable, Total	426M	320M	346M	699M	696M
Other Receivables	39.6M	37.5M	43.8M	9.2M	277M
Total Receivables	465M	358M	390M	708M	973M
Inventory	493M	457M	446M	1.19B	1.43B
Restricted Cash	-	-	-	-	-
Other Current Assets, Total	100K	2.6M	100K	76.3M	3.8M
Total Current Assets	2.22B	1.91B	1.74B	2.45B	3.41B
Gross Property Plant And Equipment	556M	587M	626M	-	1.5B
Accumulated Depreciation	-287M	-324M	-360M	-	-806M
Net Property Plant And Equipment	269M	263M	265M	566M	690M
Long-term Investments	349M	675M	1.22B	1.38B	1.15B
Goodwill	97.1M	76.2M	83.2M	981M	586M
Other Intangibles, Total	445M	451M	439M	750M	1.24B
Loans Receivable Long-Term	-	-	40.6M	-	-
Deferred Tax Assets Long-Term	41.3M	39.2M	46.6M	57.4M	56M
Other Long-Term Assets, Total	33.5M	36.1M	42M	118M	80M
Total Assets	3.46B	3.45B	3.88B	6.3B	7.21B
Liabilities
Accounts Payable, Total	291M	253M	302M	985M	927M
Accrued Expenses, Total	43.7M	55.3M	94.8M	-	164M
Short-term Borrowings	-	-	-	-	5.5M
Current Portion of Long-Term Debt	33.8M	8.4M	36.6M	374M	264M
Current Portion of Leases	12.7M	9.5M	16.5M	-	81.8M
Current Income Taxes Payable	5M	1.7M	2.8M	11.7M	94.5M
Other Current Liabilities	117M	116M	111M	48.3M	361M
Total Current Liabilities	503M	444M	564M	1.42B	1.9B
Long-Term Debt	98.9M	44.6M	129M	1.23B	1.02B
Long-Term Leases	35.5M	40.9M	29M	-	256M
Pension & Other Post Retirement Benefits	31.6M	31.7M	25.5M	39.4M	78.9M
Deferred Tax Liability Non Current	133M	131M	133M	139M	276M
Other Non Current Liabilities	14.7M	11.6M	15.5M	295M	208M
Total Liabilities	817M	704M	896M	3.12B	3.74B
Common Stock, Total	160M	160M	160M	160M	160M
Additional Paid In Capital	24.4M	24.4M	24.4M	24.4M	24.4M
Retained Earnings	2.53B	2.6B	2.81B	2.96B	3.21B
Treasury Stock	-57M	-38M	-47.4M	-134M	-88.5M
Comprehensive Income and Other	-12.2M	-5M	26.9M	159M	148M
Total Common Equity	2.64B	2.74B	2.98B	3.17B	3.46B
Minority Interest	600K	3.5M	400K	12.7M	16M
Total Equity	2.64B	2.74B	2.98B	3.18B	3.47B
Total Liabilities And Equity	3.46B	3.45B	3.88B	6.3B	7.21B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	53.79M	53.38M	53.35M	53.23M	52.93M
ECS Total Common Shares Outstanding	53.79M	53.38M	53.35M	53.23M	52.93M
Book Value / Share	49.09	51.32	55.83	59.46	65.31
Tangible Book Value	2.1B	2.21B	2.46B	1.43B	1.63B
Tangible Book Value Per Share	39.02	41.44	46.04	26.95	30.77
Total Debt	181M	103M	212M	1.6B	1.63B
Net Debt	-1.08B	-985M	-687M	1.13B	630M
Debt Equivalent of Unfunded Proj. Benefit Obligation	31.6M	31.7M	25.5M	-	44.3M
Debt Equivalent Oper. Leases	-	-	-	-	-
Minority Interest, Total (Incl. Fin. Div)	600K	3.5M	400K	12.7M	16M
Equity Method Investments, Total	349M	675M	1.22B	1.37B	1.05B
Account Code - Inventory Valuation	8	8	8	-	8
Inventories - Finished Goods, Total	493M	456M	444M	-	1.43B
Inventories - Others	200K	900K	2M	-	8.9M
Machinery, Total	157M	174M	199M	-	566M
Full Time Employees	2.63K	1.61K	1.93K	-	2.47K
Part Time Employees	-	246	150	-	294
Accumulated Allowance for Doubtful Accounts (Supple)	4.9M	5.1M	4.8M	-	-

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	64.5M	142M	256M	339M	505M
Depreciation & Amortization - CF	34.8M	38.4M	37.5M	68.1M	132M
Amortization of Goodwill and Intangible Assets - (CF)	7.1M	8.5M	9M	20.4M	56.2M
Depreciation & Amortization, Total	41.9M	46.9M	46.5M	88.5M	188M
Amortization of Deferred Charges, Total - (CF)	-	-	-	-	-
Asset Writedown & Restructuring Costs	102M	21.4M	-	-	-
Provision for Credit Losses	-	-	-	-	-
(Income) Loss On Equity Investments - (CF)	-93.2M	-150M	-188M	-210M	-357M
Stock-Based Compensation (CF)	-	-	-	24.1M	53.5M
Net Cash From Discontinued Operations	-	-	-	-	-
Other Operating Activities, Total	8.6M	-7.5M	9.5M	5.3M	143M
Change In Accounts Receivable	-	-	-	94.2M	-81.6M
Change In Inventories	-	-	-	-260M	-193M
Change In Accounts Payable	-	-	-	6.9M	180M
Change in Other Net Operating Assets	-74.9M	126M	51.7M	-	-
Cash from Operations	49.2M	178M	176M	87.6M	437M
Capital Expenditure	-50.4M	-35M	-46.7M	-77M	-106M
Sale of Property, Plant, and Equipment	8.2M	1.9M	3.7M	10.4M	14.9M
Cash Acquisitions	-13.8M	-400K	-9M	-517M	-60.4M
Divestitures	-	-	-	-	92.1M
Investment in Marketable and Equity Securities, Total	-545M	-291M	-954M	418M	-277M
Other Investing Activities, Total	462M	4.3M	832M	223M	826M
Cash from Investing	-139M	-320M	-174M	57.1M	490M
Long-Term Debt Issued, Total	-	-	118M	107M	74.1M
Total Debt Issued	-	-	118M	107M	74.1M
Long-Term Debt Repaid, Total	-42M	-96.4M	-29.6M	-85.2M	-274M
Total Debt Repaid	-42M	-96.4M	-29.6M	-85.2M	-274M
Issuance of Common Stock	-	-	4.7M	30.7M	21.3M
Repurchase of Common Stock	-18.7M	-24.4M	-13.7M	-117M	-81.6M
Common Dividends Paid	-54.8M	-53.9M	-72.9M	-114M	-161M
Common & Preferred Stock Dividends Paid	-54.8M	-53.9M	-72.9M	-114M	-161M
Special Dividend Paid	-	-	-	-	-
Other Financing Activities, Total	-6.4M	1M	-6.4M	33.3M	-104M
Cash from Financing	-122M	-174M	400K	-145M	-525M
Foreign Exchange Rate Adjustments	300K	-500K	900K	400K	-400K
Net Change in Cash	-211M	-316M	3.3M	300K	401M
Supplemental Items
Cash Interest Paid	6.5M	5M	6.4M	19.8M	102M
Cash Income Tax Paid (Refund)	42M	32.1M	25.2M	57.2M	100M
Levered Free Cash Flow	3.95M	148M	137M	-456M	435M
Unlevered Free Cash Flow	7.45M	151M	140M	-431M	496M
Change In Net Working Capital	62.6M	-116M	-65.6M	606M	-124M
Net Debt Issued / Repaid	-42M	-96.4M	88.7M	22.2M	-200M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	2.22	0.62	1.84	2.73	3.44
Return on Total Capital	2.71	0.75	2.23	3.49	4.75
Return On Equity %	2.44	5.22	8.95	10.91	15.4
Return on Common Equity	2.41	5.21	8.89	10.81	15.11
Margin Analysis
Gross Profit Margin %	13.04	13.28	14.26	20.59	22.62
SG&A Margin	10	11.06	10.56	16.05	18.28
EBITDA Margin %	4.31	2.44	4.04	6.59	6.03
EBITA Margin %	3.4	1.28	3.47	5.15	5.39
EBIT Margin %	3.21	1.03	3.2	4.71	4.69
Income From Continuing Operations Margin %	1.7	4.24	7.6	7.12	6.39
Net Income Margin %	1.7	4.28	7.63	7.18	6.32
Net Avail. For Common Margin %	1.68	4.23	7.54	7.04	6.25
Normalized Net Income Margin	3.42	3.47	5.48	5.29	4.73
Levered Free Cash Flow Margin	0.1	4.45	4.07	-9.67	5.45
Unlevered Free Cash Flow Margin	0.2	4.54	4.15	-9.14	6.21
Asset Turnover
Asset Turnover	1.1	0.96	0.92	0.93	1.17
Fixed Assets Turnover	15.48	12.48	12.72	11.34	12.71
Receivables Turnover (Average Receivables)	9.57	8.9	10.09	8.74	12.62
Inventory Turnover (Average Inventory)	6.97	6.06	6.38	4.57	4.7
Short Term Liquidity
Current Ratio