Income Statement Eramet

Equities

ERA

FR0000131757

Diversified Mining

Market Closed - Euronext Paris Other stock markets 11:35:07 2024-09-18 EDT			5-day change	1st Jan Change
62.55 ^EUR	-1.42%		+2.21%	-12.52%

09-09	Nerves of steel needed in the current environment
09-06	Eramet: down on analysts' comments	CF

e1f.Il3DOcG7DRKuK_QLaPfcYvd_ZghPnMknhal3MdSfkAs.Fj-RSqPuWGeZUcFDJ8amLq4gHGUu9vFqt9E4QbDdxz50DrEAjdY6P8dntQ

Published financial data: ERAMET

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	3.67B	3.55B	3.67B	5.01B	3.25B
Other Revenues, Total	12M	37M	42M	88M	89M
Total Revenues	3.68B	3.59B	3.71B	5.1B	3.34B
Cost of Goods Sold, Total	2.83B	1.31B	962M	1.5B	1.1B
Gross Profit	851M	2.28B	2.75B	3.61B	2.24B
Selling General & Admin Expenses, Total	201M	1.87B	1.68B	2.02B	1.86B
R&D Expenses	25M	-	-	-	-
Depreciation & Amortization - (IS)	289M	-	-	-	240M
Amortization of Goodwill and Intangible Assets - (IS)	-	281M	259M	271M	-
Other Operating Expenses	57M	90M	50M	81M	121M
Other Operating Expenses, Total	572M	2.24B	1.99B	2.37B	2.22B
Operating Income	279M	41M	754M	1.24B	15M
Interest Expense, Total	-124M	-133M	-114M	-106M	-144M
Interest And Investment Income	13M	11M	9M	9M	42M
Net Interest Expenses	-111M	-122M	-105M	-97M	-102M
Income (Loss) On Equity Invest.	-7M	86M	121M	258M	295M
Currency Exchange Gains (Loss)	-1M	-24M	12M	29M	286M
Other Non Operating Income (Expenses)	-2M	5M	-1M	12M	-3M
EBT, Excl. Unusual Items	158M	-14M	781M	1.44B	491M
Restructuring Charges	-16M	-8M	-	-2M	-5M
Impairment of Goodwill	-	-1M	-	-	-
Gain (Loss) On Sale Of Investments	0	-27M	-7M	-7M	4M
Gain (Loss) On Sale Of Assets	-	2M	-1M	-	-
Asset Writedown	-25M	-493M	117M	-221M	-218M
Other Unusual Items	-35M	-14M	-1M	-16M	-172M
EBT, Incl. Unusual Items	82M	-555M	889M	1.19B	100M
Income Tax Expense	227M	121M	98M	264M	88M
Earnings From Continuing Operations	-145M	-676M	791M	930M	12M
Earnings Of Discontinued Operations	-	-	-426M	-156M	6M
Net Income to Company	-145M	-676M	365M	774M	18M
Minority Interest	-39M	1M	-67M	-34M	91M
Net Income - (IS)	-184M	-675M	298M	740M	109M
Net Income to Common Incl Extra Items	-184M	-675M	298M	740M	109M
Net Income to Common Excl. Extra Items	-184M	-675M	724M	896M	103M
Per Share Items
Net EPS - Basic	-6.94	-25.47	10.43	25.81	3.81
Basic EPS - Continuing Operations	-6.94	-25.47	25.34	31.25	3.6
Basic Weighted Average Shares Outstanding	26.53M	26.51M	28.57M	28.67M	28.59M
Net EPS - Diluted	-6.94	-25.47	10.39	25.47	3.75
Diluted EPS - Continuing Operations	-6.94	-25.47	25.24	30.84	3.54
Diluted Weighted Average Shares Outstanding	26.53M	26.51M	28.69M	29.04M	28.94M
Normalized Basic EPS	2.25	-0.29	14.74	30.2	13.92
Normalized Diluted EPS	2.25	-0.29	14.68	29.82	13.75
Dividend Per Share	-	-	2.5	3.5	1.5
Payout Ratio	-10.87	-0.59	1.34	9.73	91.74
American Depositary Receipts Ratio (ADR)	0.1	0.1	0.1	0.1	0.1
Supplemental Items
EBITDA	559M	312M	1.02B	1.5B	374M
EBITA	303M	68M	794M	1.28B	50M
EBIT	279M	41M	754M	1.24B	15M
Effective Tax Rate - (Ratio)	276.83	-21.8	11.02	22.11	88
Total Current Taxes	169M	119M	123M	234M	107M
Total Deferred Taxes	58M	2M	-25M	30M	-19M
Normalized Net Income	59.75M	-7.75M	421M	866M	398M
Interest on Long-Term Debt	18M	-	-	-	-
Non-Cash Pension Expense	0	3M	-16M	1M	5M
Supplemental Operating Expense Items
Research And Development Expense From Footnotes	25M	-	-	-	-
Stock-Based Comp., SG&A Exp. (Total)	-	6M	6M	8M	11M
Stock-Based Comp., Other (Total)	9M	-	-	-	-
Total Stock-Based Compensation	9M	6M	6M	8M	11M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	556M	1.46B	789M	1.12B	1.08B
Short Term Investments	365M	395M	387M	537M	522M
Trading Asset Securities, Total	-	-	-	8M	10M
Total Cash And Short Term Investments	921M	1.86B	1.18B	1.67B	1.62B
Accounts Receivable, Total	362M	348M	375M	369M	221M
Other Receivables	261M	293M	294M	433M	140M
Total Receivables	623M	641M	669M	802M	361M
Inventory	1.1B	906M	577M	724M	619M
Prepaid Expenses	-	-	-	-	-
Other Current Assets, Total	32M	73M	694M	788M	376M
Total Current Assets	2.67B	3.48B	3.12B	3.98B	2.97B
Gross Property Plant And Equipment	6.42B	6.32B	5.32B	5.64B	5.78B
Accumulated Depreciation	-3.87B	-4.11B	-3B	-3.34B	-3.47B
Net Property Plant And Equipment	2.55B	2.21B	2.32B	2.3B	2.31B
Long-term Investments	266M	299M	272M	310M	458M
Goodwill	207M	201M	206M	208M	186M
Other Intangibles, Total	212M	243M	210M	166M	143M
Loans Receivable Long-Term	-	-	-	-	-
Deferred Tax Assets Long-Term	8M	2M	41M	44M	64M
Deferred Charges Long-Term	42M	36M	61M	112M	105M
Other Long-Term Assets, Total	18M	18M	16M	39M	42M
Total Assets	5.98B	6.48B	6.24B	7.16B	6.28B
Liabilities
Accounts Payable, Total	458M	541M	403M	424M	445M
Accrued Expenses, Total	357M	412M	369M	460M	401M
Short-term Borrowings	72M	61M	101M	195M	97M
Current Portion of Long-Term Debt	489M	203M	352M	316M	498M
Current Portion of Leases	26M	23M	16M	25M	26M
Current Income Taxes Payable	49M	92M	110M	150M	88M
Unearned Revenue Current, Total	32M	31M	5M	1M	1M
Other Current Liabilities	139M	146M	793M	945M	196M
Total Current Liabilities	1.62B	1.51B	2.15B	2.52B	1.75B
Long-Term Debt	1.54B	2.82B	1.58B	1.38B	1.53B
Long-Term Leases	104M	90M	68M	91M	74M
Pension & Other Post Retirement Benefits	165M	150M	70M	60M	71M
Deferred Tax Liability Non Current	223M	221M	225M	270M	246M
Other Non Current Liabilities	690M	699M	820M	600M	607M
Total Liabilities	4.34B	5.48B	4.91B	4.91B	4.28B
Common Stock, Total	81M	81M	88M	88M	88M
Additional Paid In Capital	377M	377M	466M	466M	466M
Treasury Stock	-16M	-14M	-18.9M	-22.6M	-26M
Comprehensive Income and Other	956M	320M	477M	1.25B	1.07B
Total Common Equity	1.4B	764M	1.01B	1.78B	1.6B
Minority Interest	241M	233M	323M	464M	394M
Total Equity	1.64B	997M	1.34B	2.24B	1.99B
Total Liabilities And Equity	5.98B	6.48B	6.24B	7.16B	6.28B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	26.46M	26.47M	26.56M	26.63M	28.49M
ECS Total Common Shares Outstanding	26.46M	26.47M	26.56M	26.63M	28.49M
Book Value / Share	52.84	28.86	38.11	66.87	56.15
Tangible Book Value	979M	320M	596M	1.41B	1.27B
Tangible Book Value Per Share	37	12.09	22.44	52.83	44.61
Total Debt	2.23B	3.19B	2.11B	2B	2.23B
Net Debt	1.31B	1.34B	937M	336M	611M
Debt Equivalent of Unfunded Proj. Benefit Obligation	215M	200M	103M	90M	99M
Minority Interest, Total (Incl. Fin. Div)	241M	233M	323M	464M	394M
Equity Method Investments, Total	22M	99M	97M	297M	315M
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	395M	356M	333M	466M	374M
Inventories - Work In Process, Total	440M	359M	38M	60M	45M
Inventories - Finished Goods, Total	263M	185M	206M	198M	198M
Inventories - Others	-	6M	-	-	2M
Land - (BS)	1.05B	954M	855M	874M	836M
Machinery, Total	-	-	-	-	-
Full Time Employees	12.39K	12.39K	12.41K	8.48K	8.57K
Part Time Employees	-	-	-	-	-
Assets under Capital Lease - Gross	192M	-	-	-	-
Assets under Capital Lease - Accumulated Depreciation	-135M	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	10M	11M	9M	14M	10M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	-184M	-675M	298M	740M	109M
Depreciation & Amortization - CF	270M	268M	246M	246M	343M
Amortization of Goodwill and Intangible Assets - (CF)	24M	27M	40M	39M	35M
Depreciation & Amortization, Total	294M	295M	286M	285M	378M
(Gain) Loss From Sale Of Asset	1M	2M	-12M	3M	96M
Asset Writedown & Restructuring Costs	28M	489M	103M	237M	165M
(Income) Loss On Equity Investments - (CF)	7M	-86M	-121M	-258M	-295M
Net Cash From Discontinued Operations	-	-	-70M	-125M	-69M
Other Operating Activities, Total	64M	-10M	239M	220M	-285M
Change In Accounts Receivable	44M	13M	-107M	6M	153M
Change In Inventories	-149M	177M	-124M	-150M	26M
Change In Accounts Payable	60M	81M	71M	-21M	19M
Change in Other Net Operating Assets	-79M	23M	80M	54M	-125M
Cash from Operations	86M	309M	643M	991M	172M
Capital Expenditure	-424M	-71M	-269M	-491M	-595M
Sale of Property, Plant, and Equipment	-	1M	2M	7M	6M
Cash Acquisitions	-1M	-	-	-	-
Divestitures	-	-	6M	79M	229M
Sale (Purchase) of Intangible assets	-	-289M	-43M	-39M	-110M
Investment in Marketable and Equity Securities, Total	131M	-16M	81M	78M	161M
Net (Increase) Decrease in Loans Originated / Sold - Investing	-	-	-	-	-
Other Investing Activities, Total	-	-	-55M	-147M	-248M
Cash from Investing	-294M	-375M	-278M	-513M	-557M
Short Term Debt Issued, Total	6M	-	57M	98M	-
Long-Term Debt Issued, Total	457M	1.46B	120M	167M	1.42B
Total Debt Issued	463M	1.46B	177M	265M	1.42B
Short Term Debt Repaid, Total	-	-9M	-	-	-69M
Long-Term Debt Repaid, Total	-421M	-482M	-1.2B	-398M	-1.14B
Total Debt Repaid	-421M	-491M	-1.2B	-398M	-1.2B
Issuance of Common Stock	-	-	-	-	-
Repurchase of Common Stock	-10M	-4M	-8M	-7M	-10M
Common Dividends Paid	-20M	-4M	-4M	-72M	-100M
Common & Preferred Stock Dividends Paid	-20M	-4M	-4M	-72M	-100M
Other Financing Activities, Total	-84M	9M	10M	152M	164M
Cash from Financing	-72M	969M	-1.03B	-60M	269M
Foreign Exchange Rate Adjustments	-12M	2M	3M	-64M	45M
Miscellaneous Cash Flow Adjustments	-	-	-13M	-	-
Net Change in Cash	-292M	905M	-672M	354M	-71M
Supplemental Items
Cash Interest Paid	124M	118M	114M	105M	144M
Cash Income Tax Paid (Refund)	262M	72M	117M	187M	172M
Levered Free Cash Flow	-161M	204M	518M	396M	-288M
Unlevered Free Cash Flow	-83.62M	287M	589M	463M	-198M
Change In Net Working Capital	137M	-320M	-138M	74M	-109M
Net Debt Issued / Repaid	42M	968M	-1.02B	-133M	215M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	2.91	0.41	7.43	11.55	0.14
Return on Total Capital	4.44	0.64	12.4	20.11	0.22
Return On Equity %	-8.17	-51.29	68.99	51.96	0.57
Return on Common Equity	-12.25	-62.44	83.36	64.16	6.09
Margin Analysis
Gross Profit Margin %	23.11	63.62	74.07	70.7	67.04
SG&A Margin	5.46	52.14	45.42	39.53	55.78
EBITDA Margin %	15.18	8.69	27.57	29.5	11.2
EBITA Margin %	8.23	1.89	21.4	25.03	1.5
EBIT Margin %	7.58	1.14	20.32	24.26	0.45
Income From Continuing Operations Margin %	-3.94	-18.83	21.32	18.23	0.36
Net Income Margin %	-5	-18.8	8.03	14.5	3.26
Net Avail. For Common Margin %	-5	-18.8	19.51	17.56	3.08
Normalized Net Income Margin	1.62	-0.22	11.35	16.97	11.91