Cash flow Kitwave Group plc

Equities

KITW

GB00BNYKB709

Food Retail & Distribution

Market Closed - London S.E. Other stock markets 11:35:04 2024-09-11 EDT			5-day change	1st Jan Change
321.00 ^GBX	-1.83%		-2.73%	+25.88%

09-03	EARNINGS AND TRADING: STV swings to profit; Kitwave enjoys busy summer	AN
07-15	The Country Range Group Ltd acquired Foodservice division of Kitwave Group plc.	CI

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Published financial data: KITWAVE GROUP PLC

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: October	2019	2020	2021	2022	2023
Revenues	367M	395M	381M	503M	602M
Total Revenues	367M	395M	381M	503M	602M
Cost of Goods Sold, Total	303M	323M	312M	400M	470M
Gross Profit	64.03M	71.45M	68.58M	103M	132M
Selling General & Admin Expenses, Total	49.47M	63.89M	66.96M	82.63M	103M
Depreciation & Amortization - (IS)	2.8M	-	-	-	-
Amortization of Goodwill and Intangible Assets - (IS)	-	96K	-	-	-
Other Operating Expenses	-	-2.01M	-	-	-
Other Operating Expenses, Total	52.28M	61.98M	66.96M	82.63M	103M
Operating Income	11.76M	9.47M	1.63M	20M	29.18M
Interest Expense, Total	-6.92M	-7.18M	-9.68M	-2.53M	-4.5M
Net Interest Expenses	-6.92M	-7.18M	-9.68M	-2.53M	-4.5M
Currency Exchange Gains (Loss)	-	3.33K	-2K	33K	-
Other Non Operating Income (Expenses)	336K	867K	5.41M	-	-
EBT, Excl. Unusual Items	5.17M	3.16M	-2.65M	17.5M	24.68M
Restructuring Charges	-	-	-	-	-
Impairment of Goodwill	-1.67M	-1.92M	-	-	-
Gain (Loss) On Sale Of Assets	16K	3.33K	55K	164K	179K
Other Unusual Items	8K	5.33K	4.72M	177K	4K
EBT, Incl. Unusual Items	3.52M	1.25M	2.12M	17.84M	24.86M
Income Tax Expense	1.53M	1.2M	1.03M	3.5M	5.9M
Earnings From Continuing Operations	1.99M	43.33K	1.1M	14.34M	18.96M
Net Income to Company	1.99M	43.33K	1.1M	14.34M	18.96M
Net Income - (IS)	1.99M	43.33K	1.1M	14.34M	18.96M
Net Income to Common Incl Extra Items	1.99M	43.33K	1.1M	14.34M	18.96M
Net Income to Common Excl. Extra Items	1.99M	43.33K	1.1M	14.34M	18.96M
Per Share Items
Net EPS - Basic	24.92	-	0.02	0.2	0.27
Basic EPS - Continuing Operations	24.92	-	0.02	0.2	0.27
Basic Weighted Average Shares Outstanding	80K	-	46.04M	70.03M	70M
Net EPS - Diluted	24.92	-	0.02	0.2	0.26
Diluted EPS - Continuing Operations	24.92	-	0.02	0.2	0.26
Diluted Weighted Average Shares Outstanding	80K	-	46.06M	70.03M	73.05M
Normalized Basic EPS	40.4	-	-0.04	0.16	0.22
Normalized Diluted EPS	40.4	-	-0.04	0.16	0.21
Dividend Per Share	-	-	0.07	0.09	0.11
Payout Ratio	-	-	143.7	34.17	38.77
Supplemental Items
EBITDA	14.56M	12.74M	3.6M	21.95M	31.43M
EBITA	11.76M	9.47M	1.63M	20M	29.18M
EBIT	11.76M	9.47M	1.63M	20M	29.18M
EBITDAR	18.84M	27.04M	-	-	-
Effective Tax Rate - (Ratio)	43.42	96.52	48.4	19.62	23.74
Current Domestic Taxes	-	1.24M	807K	3.51M	6.15M
Total Current Taxes	1.58M	1.24M	807K	3.51M	6.15M
Total Deferred Taxes	-49K	-36.67K	221K	-13K	-252K
Normalized Net Income	3.23M	1.98M	-1.66M	10.94M	15.42M
Interest on Long-Term Debt	5.02M	7.96M	8.32M	1.43M	1.66M
Supplemental Operating Expense Items
Selling and Marketing Expenses	-	-	31.2M	44.01M	54.57M
General and Administrative Expenses	49.47M	63.89M	35.76M	38.62M	48.38M
Net Rental Expense, Total	4.28M	7.93M	-	-	-
Imputed Operating Lease Interest Expense	3.28M	-	-	-	-
Imputed Operating Lease Depreciation	997K	-	-	-	-
Stock-Based Comp., Other (Total)	-	-	227K	863K	964K
Total Stock-Based Compensation	-	-	227K	863K	964K

Fiscal Period: October	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	1.2M	342K	4.97M	5.51M	673K
Total Cash And Short Term Investments	1.2M	342K	4.97M	5.51M	673K
Accounts Receivable, Total	52.4M	34.32M	44.36M	47.21M	50.98M
Other Receivables	-	2.3M	1.88M	1.51M	1.38M
Total Receivables	52.4M	36.62M	46.25M	48.72M	52.37M
Inventory	32.62M	23.2M	26.04M	31.85M	35.41M
Prepaid Expenses	-	7.94M	6.57M	8.98M	11.2M
Total Current Assets	86.22M	68.1M	83.82M	95.06M	99.65M
Gross Property Plant And Equipment	17.74M	24.74M	55.55M	67.83M	79.84M
Accumulated Depreciation	-7.81M	-11.35M	-22.26M	-28.34M	-33.51M
Net Property Plant And Equipment	9.94M	13.39M	33.29M	39.49M	46.33M
Long-term Investments	20K	20K	20K	35K	45K
Goodwill	21.35M	26.03M	31.25M	44.34M	58.68M
Other Intangibles, Total	-	412K	431K	737K	4.88M
Other Long-Term Assets, Total	-	175K	-	-	-
Total Assets	118M	108M	149M	180M	210M
Liabilities
Accounts Payable, Total	42.51M	27.83M	36.09M	43.84M	45.68M
Accrued Expenses, Total	2.59M	6.82M	8.39M	9.58M	11.14M
Short-term Borrowings	24.02M	14.81M	14.62M	20.35M	6.4M
Current Portion of Long-Term Debt	2.09M	2.87M	-	-	-
Current Portion of Leases	904K	1.39M	4.72M	5.51M	6.4M
Current Income Taxes Payable	2.42M	1.98M	370K	62K	594K
Other Current Liabilities	2.33M	6.45M	2.85M	4.48M	6.77M
Total Current Liabilities	76.86M	62.15M	67.04M	83.82M	77M
Long-Term Debt	43M	48.49M	-	-	20M
Long-Term Leases	3.14M	2.89M	19.92M	23.24M	26.27M
Deferred Tax Liability Non Current	42K	54K	275K	715K	1.88M
Other Non Current Liabilities	-	1K	-	-	-
Total Liabilities	123M	114M	87.23M	108M	125M
Common Stock, Total	1K	1K	700K	700K	700K
Additional Paid In Capital	12.99M	12.99M	64.18M	64.18M	64.18M
Retained Earnings	14.59M	14.66M	29.57M	39.01M	50.62M
Comprehensive Income and Other	-33.1M	-33.1M	-32.87M	-32.01M	-31.06M
Total Common Equity	-5.51M	-5.45M	61.58M	71.89M	84.44M
Total Equity	-5.51M	-5.45M	61.58M	71.89M	84.44M
Total Liabilities And Equity	118M	108M	149M	180M	210M
Supplemental Items
ECS Total Shares Outstanding on Filing Date	80K	80K	70M	70M	70M
ECS Total Common Shares Outstanding	80K	80K	70M	70M	70M
Book Value / Share	-68.92	-68.11	0.88	1.03	1.21
Tangible Book Value	-26.86M	-31.9M	29.9M	26.81M	20.89M
Tangible Book Value Per Share	-335.8	-398.69	0.43	0.38	0.3
Total Debt	73.15M	70.45M	39.26M	49.1M	59.07M
Net Debt	71.95M	70.1M	34.29M	43.59M	58.4M
Debt Equivalent Oper. Leases	34.22M	-	-	-	-
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	-	-	-	-	-
Inventories - Finished Goods, Total	32.62M	23.2M	26.04M	31.85M	35.41M
Machinery, Total	15.45M	19.14M	15.45M	17.01M	21.45M
Full Time Employees	972	1.16K	1.15K	1.5K	600
Accumulated Allowance for Doubtful Accounts (Supple)	-	-	2.02M	2.09M	2.15M

Fiscal Period: October	2019	2020	2021	2022	2023
Net Income	1.99M	43.33K	1.1M	14.34M	18.96M
Depreciation & Amortization - CF	2.8M	3.27M	7.82M	7.9M	8.99M
Depreciation & Amortization, Total	2.8M	3.27M	7.82M	7.9M	8.99M
Amortization of Deferred Charges, Total - (CF)	-	96K	150K	99K	975K
(Gain) Loss From Sale Of Asset	-16K	-3.33K	-55K	-164K	-179K
Asset Writedown & Restructuring Costs	1.66M	1.92M	-	-	-
Stock-Based Compensation (CF)	-	-	227K	863K	964K
Other Operating Activities, Total	6.93M	5.72M	1.1M	2.12M	4.53M
Change In Accounts Receivable	-3.25M	12.95M	-8.24M	-2.91M	-3.74M
Change In Inventories	-1.25M	7.64M	-2.84M	-4.17M	-2.55M
Change In Accounts Payable	-559K	-11.91M	8.67M	8.45M	2.35M
Cash from Operations	8.32M	19.72M	7.92M	26.52M	30.3M
Capital Expenditure	-963K	-2.08M	-2.96M	-2.61M	-3.92M
Sale of Property, Plant, and Equipment	262K	239K	248K	308K	473K
Cash Acquisitions	-222K	-9.44M	-	-16.91M	-19.59M
Cash from Investing	-923K	-11.29M	-2.71M	-19.21M	-23.04M
Short Term Debt Issued, Total	634K	-	4.56M	5.73M	-
Long-Term Debt Issued, Total	-	1.94M	5.5M	-	20M
Total Debt Issued	634K	1.29M	10.06M	5.73M	20M
Short Term Debt Repaid, Total	-542K	-9.21M	-4.75M	-	-13.95M
Long-Term Debt Repaid, Total	-3.25M	-1.68M	-61.11M	-5.07M	-6.56M
Total Debt Repaid	-3.79M	-7.26M	-65.86M	-5.07M	-20.5M
Issuance of Common Stock	-	-	64M	-	-
Common Dividends Paid	-	-	-1.58M	-4.9M	-7.35M
Common & Preferred Stock Dividends Paid	-	-	-1.58M	-4.9M	-7.35M
Other Financing Activities, Total	-3.99M	-3.04M	-7.2M	-2.53M	-4.25M
Cash from Financing	-7.14M	-9.01M	-577K	-6.77M	-12.1M
Net Change in Cash	248K	-575K	4.63M	543K	-4.84M
Supplemental Items
Cash Interest Paid	3.99M	3.04M	5.09M	2.53M	4.25M
Cash Income Tax Paid (Refund)	452K	1.8M	2.43M	4M	6.08M
Levered Free Cash Flow	557K	-	-5.49M	16.73M	19.24M
Unlevered Free Cash Flow	4.88M	-	560K	18.32M	22.06M
Change In Net Working Capital	4.31M	-	5.69M	436K	3.2M
Net Debt Issued / Repaid	-3.16M	-5.97M	-55.8M	666K	-503K

Fiscal Period: October	2019	2020	2021	2022	2023
Profitability
Return on Assets	6.36	-	0.73	7.61	9.37
Return on Total Capital	11.19	-	1.08	11.27	13.79
Return On Equity %	-30.62	-	3.56	21.49	24.25
Return on Common Equity	-30.62	-	3.56	21.49	24.25
Margin Analysis
Gross Profit Margin %	17.47	18.1	18.02	20.4	21.94
SG&A Margin	13.5	16.19	17.59	16.42	17.09
EBITDA Margin %	3.97	3.23	0.95	4.36	5.22
EBITA Margin %	3.21	2.4	0.43	3.98	4.85
EBIT Margin %	3.21	2.4	0.43	3.98	4.85
Income From Continuing Operations Margin %	0.54	0.01	0.29	2.85	3.15
Net Income Margin %	0.54	0.01	0.29	2.85	3.15
Net Avail. For Common Margin %	0.54	0.01	0.29	2.85	3.15
Normalized Net Income Margin	0.88	0.5	-0.43	2.17	2.56
Levered Free Cash Flow Margin	0.15	-	-1.44	3.33	3.19
Unlevered Free Cash Flow Margin	1.33	-	0.15	3.64	3.66
Asset Turnover
Asset Turnover	3.17	-	2.73	3.06	3.09
Fixed Assets Turnover	38.35	-	12.05	13.82	14.03
Receivables Turnover (Average Receivables)	7.87	-	9.68	10.99	12.27
Inventory Turnover (Average Inventory)	9.46	-	12.68	13.84	13.98
Short Term Liquidity
Current Ratio	1.12	1.1	1.25	1.13	1.29
Quick Ratio	0.7	0.59	0.76	0.65	0.69
Operating Cash Flow to Current Liabilities	0.11	0.32	0.12	0.32	0.39
Days Sales Outstanding (Average Receivables)	46.35	-	37.72	33.22	29.76
Days Outstanding Inventory (Average Inventory)	38.6	-	28.79	26.38	26.11
Average Days Payable Outstanding	52.25	-	37.04	35.91	34.49
Cash Conversion Cycle (Average Days)	32.7	-	29.47	23.69	21.38
Long Term Solvency
Total Debt/Equity	-1.33K	-1.29K	63.74	68.31	69.96
Total Debt / Total Capital	108.15	108.38	38.93	40.58	41.16
LT Debt/Equity	-836.67	-942.85	32.34	32.33	54.79
Long-Term Debt / Total Capital	68.21	79.04	19.75	19.21	32.24
Total Liabilities / Total Assets	104.69	105.04	58.62	59.99	59.71
EBIT / Interest Expense	1.7	1.32	0.17	7.89	6.48
EBITDA / Interest Expense	2.1	1.78	0.98	11.01	8.47
(EBITDA - Capex) / Interest Expense	1.96	1.48	0.67	9.98	7.6
Total Debt / EBITDA	5.02	5.53	4.16	1.76	1.55
Net Debt / EBITDA	4.94	5.5	3.63	1.56	1.53
Total Debt / (EBITDA - Capex)	5.38	6.61	6.06	1.94	1.72
Net Debt / (EBITDA - Capex)	5.29	6.58	5.29	1.72	1.7
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	7.41	-	-3.54	32.15	19.7
Gross Profit, 1 Yr. Growth %	11.4	-	-4.01	49.64	28.74
EBITDA, 1 Yr. Growth %	17.23	-	-55.44	509.3	43.22
EBITA, 1 Yr. Growth %	16.96	-	-72.9	1.13K	45.89
EBIT, 1 Yr. Growth %	16.96	-	-72.9	1.13K	45.89
Earnings From Cont. Operations, 1 Yr. Growth %	12.02	-	-428.8	1.21K	32.19
Net Income, 1 Yr. Growth %	12.02	-	-428.8	1.21K	32.19
Normalized Net Income, 1 Yr. Growth %	9.02	-	132.37	-760.63	41
Diluted EPS Before Extra, 1 Yr. Growth %	12.02	-	-250	900.05	26.92
Accounts Receivable, 1 Yr. Growth %	28.69	-	29.28	6.4	8.01
Inventory, 1 Yr. Growth %	3.98	-	12.26	22.28	11.19
Net Property, Plant and Equip., 1 Yr. Growth %	8.19	-	11.31	18.61	17.32
Total Assets, 1 Yr. Growth %	3.5	-	14.59	20.72	16.66
Tangible Book Value, 1 Yr. Growth %	-11.4	-	-194.29	-10.35	-22.09
Common Equity, 1 Yr. Growth %	-26.56	-	-116K	16.73	17.47
Cash From Operations, 1 Yr. Growth %	-1.25	-	-66.88	235.08	14.22
Capital Expenditures, 1 Yr. Growth %	-16.77	-	42.13	-11.92	50.12
Levered Free Cash Flow, 1 Yr. Growth %	-187.25	-	-	-404.62	14.99
Unlevered Free Cash Flow, 1 Yr. Growth %	40.1	-	-	3.17K	20.42
Dividend Per Share, 1 Yr. Growth %