Cash flow MultiChoice Group Limited

Equities

MCG

ZAE000265971

Broadcasting

End-of-day quote Johannesburg S.E. Other stock markets 2024-09-13			5-day change	1st Jan Change
107.60 ^ZAR	-0.38%		0.00%	+32.81%

08-27	MultiChoice Group Limited Announces John James Volkwyn Declines Re-Election to the Board of Directors	CI
07-25	Vivendi posts H1 growth helped by Lagardère consolidation, Havas	RE

16d0be5c6.yASMhjhd83qnUxEt2Ew5TAd_vAVexooi5Hik-0UIrXA.hVfp7Uk7wTvsPEJ_jjRAD0Qx82Msrf9Hlhb21hE-3yGvV86_QDq_TfAmVA

Published financial data: MULTICHOICE GROUP LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2020	2021	2022	2023	2024
Revenues	51.39B	53.34B	55.24B	59.14B	55.97B
Total Revenues	51.39B	53.34B	55.24B	59.14B	55.97B
Cost of Goods Sold, Total	28.45B	27.81B	29.77B	33.44B	30.81B
Gross Profit	22.93B	25.53B	25.47B	25.7B	25.16B
Selling General & Admin Expenses, Total	14.57B	15.05B	14.85B	15.62B	17.19B
Provision for Bad Debts	175M	152M	58M	24M	200M
Other Operating Expenses	-5M	-21M	-4M	-87M	-
Other Operating Expenses, Total	14.74B	15.18B	14.91B	15.55B	17.39B
Operating Income	8.19B	10.35B	10.56B	10.15B	7.77B
Interest Expense, Total	-1.04B	-1.08B	-1.21B	-1.46B	-2B
Interest And Investment Income	456M	366M	260M	449M	640M
Net Interest Expenses	-583M	-714M	-950M	-1.01B	-1.36B
Income (Loss) On Equity Invest.	-44M	-58M	-134M	-2.48B	-752M
Currency Exchange Gains (Loss)	-2.26B	-757M	-2.12B	-5.58B	-5.59B
Other Non Operating Income (Expenses)	-	-	-	-	-
EBT, Excl. Unusual Items	5.31B	8.82B	7.36B	1.09B	63M
Merger & Related Restructuring Charges	-	-25M	-	-159M	-123M
Impairment of Goodwill	-	-	-	-	-
Gain (Loss) On Sale Of Investments	-	-	-	-9M	450M
Gain (Loss) On Sale Of Assets	-	0	-269M	3M	16M
Asset Writedown	-28M	76M	-	-2M	-1.11B
Insurance Settlements	-	35M	-	-	-
Other Unusual Items	33M	-	-	-	-
EBT, Incl. Unusual Items	5.31B	8.9B	7.09B	921M	-706M
Income Tax Expense	3.44B	4.83B	4.21B	3.84B	3.44B
Earnings From Continuing Operations	1.87B	4.08B	2.88B	-2.92B	-4.15B
Net Income to Company	1.87B	4.08B	2.88B	-2.92B	-4.15B
Minority Interest	-1.36B	-1.92B	-1.53B	-558M	174M
Net Income - (IS)	507M	2.16B	1.36B	-3.48B	-3.97B
Net Income to Common Incl Extra Items	507M	2.16B	1.36B	-3.48B	-3.97B
Net Income to Common Excl. Extra Items	507M	2.16B	1.36B	-3.48B	-3.97B
Per Share Items
Net EPS - Basic	1.17	5.06	3.18	-8.15	-9.35
Basic EPS - Continuing Operations	1.17	5.06	3.18	-8.15	-9.35
Basic Weighted Average Shares Outstanding	435M	427M	427M	427M	425M
Net EPS - Diluted	1.15	4.97	3.09	-8.15	-9.35
Diluted EPS - Continuing Operations	1.15	4.97	3.09	-8.15	-9.35
Diluted Weighted Average Shares Outstanding	439M	435M	439M	427M	425M
Normalized Basic EPS	4.49	8.42	7.2	0.29	0.5
Normalized Diluted EPS	4.45	8.26	7.01	0.29	0.5
Dividend Per Share	5.65	5.65	5.65	-	-
Payout Ratio	-	111.57	178.06	-69.44	-
American Depositary Receipts Ratio (ADR)	1	1	1	1	1
Supplemental Items
EBITDA	9.33B	11.42B	11.54B	11.1B	8.67B
EBITA	8.26B	10.41B	10.62B	10.2B	7.82B
EBIT	8.19B	10.35B	10.56B	10.15B	7.77B
EBITDAR	9.37B	11.46B	11.56B	11.14B	8.71B
Effective Tax Rate - (Ratio)	64.81	54.21	59.35	417.05	-487.54
Current Domestic Taxes	3.31B	2.59B	3B	2.5B	2.11B
Current Foreign Taxes	929M	1.34B	1.11B	1.55B	1.32B
Total Current Taxes	4.24B	3.94B	4.12B	4.04B	3.42B
Deferred Domestic Taxes	-747M	867M	74M	-225M	30M
Deferred Foreign Taxes	-45M	23M	20M	22M	-11M
Total Deferred Taxes	-792M	890M	94M	-203M	19M
Normalized Net Income	1.96B	3.6B	3.08B	122M	213M
Interest on Long-Term Debt	713M	730M	727M	884M	1.51B
Supplemental Operating Expense Items
Net Rental Expense, Total	38M	37M	19M	38M	39M
Imputed Operating Lease Interest Expense	17.98M	18M	11.21M	23.31M	27.53M
Imputed Operating Lease Depreciation	20.02M	19M	7.79M	14.69M	11.47M
Maintenance & Repair Expenses, Total	-	-	-	1B	1.18B
Stock-Based Comp., SG&A Exp. (Total)	344M	489M	420M	492M	543M
Stock-Based Comp., Other (Total)	-	-	-	-	-
Total Stock-Based Compensation	344M	489M	420M	492M	543M

Fiscal Period: March	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	9.14B	8.54B	6.16B	7.54B	7.28B
Trading Asset Securities, Total	-	-	-	7M	-
Total Cash And Short Term Investments	9.14B	8.54B	6.16B	7.55B	7.28B
Accounts Receivable, Total	1.46B	1.54B	1.55B	2.13B	2.36B
Other Receivables	1.35B	1.17B	1.34B	1.99B	2.39B
Total Receivables	2.81B	2.72B	2.89B	4.12B	4.75B
Inventory	874M	659M	811M	890M	1.44B
Prepaid Expenses	1.05B	624M	1.24B	1.46B	909M
Restricted Cash	459M	427M	201M	-	-
Other Current Assets, Total	6.51B	5.99B	5.97B	9B	6.79B
Total Current Assets	20.85B	18.95B	17.26B	23.02B	21.16B
Gross Property Plant And Equipment	34.82B	32.35B	31.81B	34.58B	34.15B
Accumulated Depreciation	-17.09B	-17.39B	-18.75B	-22.45B	-23.9B
Net Property Plant And Equipment	17.74B	14.96B	13.06B	12.13B	10.25B
Long-term Investments	351M	1.87B	6.14B	5.23B	4.94B
Goodwill	3.51B	3.49B	3.48B	3.51B	3.52B
Other Intangibles, Total	828M	1.52B	1.47B	1.84B	975M
Accounts Receivable Long-Term	-	-	54M	71M	87M
Deferred Tax Assets Long-Term	2.12B	1.52B	1.37B	1.55B	1.45B
Other Long-Term Assets, Total	858M	18M	-	253M	1.48B
Total Assets	46.26B	42.33B	42.84B	47.61B	43.85B
Liabilities
Accounts Payable, Total	1.16B	1.33B	1.97B	1.95B	2.18B
Accrued Expenses, Total	4.13B	4.3B	4.73B	5.13B	3.5B
Short-term Borrowings	-	683M	1.3B	375M	-
Current Portion of Long-Term Debt	-	-	-	-	-
Current Portion of Leases	2.06B	1.98B	1.82B	2.36B	2.64B
Current Income Taxes Payable	2.65B	1.76B	2.66B	3.82B	3.4B
Unearned Revenue Current, Total	3.53B	3.16B	3.33B	3.55B	2.98B
Other Current Liabilities	4.75B	5.36B	5.08B	5.51B	5.82B
Total Current Liabilities	18.27B	18.56B	20.89B	22.7B	20.53B
Long-Term Debt	263M	1.21B	2.72B	8.05B	12.04B
Long-Term Leases	16.89B	12.43B	10.66B	10.75B	9.1B
Deferred Tax Liability Non Current	1.02B	251M	178M	635M	317M
Other Non Current Liabilities	3M	358M	320M	142M	2.93B
Total Liabilities	36.45B	32.81B	34.76B	42.26B	44.92B
Common Stock, Total	454M	454M	454M	454M	454M
Retained Earnings	25.32B	25.49B	24.67B	18.88B	16.16B
Treasury Stock	-	-	-1.84B	-1.6B	-1.8B
Comprehensive Income and Other	-13.05B	-13.52B	-12.34B	-8.01B	-9.9B
Total Common Equity	12.72B	12.43B	10.95B	9.72B	4.91B
Minority Interest	-2.92B	-2.91B	-2.88B	-4.37B	-5.98B
Total Equity	9.8B	9.51B	8.08B	5.34B	-1.07B
Total Liabilities And Equity	46.26B	42.33B	42.84B	47.61B	43.85B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	427M	427M	426M	428M	425M
ECS Total Common Shares Outstanding	427M	427M	426M	428M	425M
Book Value / Share	29.8	29.11	25.74	22.7	11.55
Tangible Book Value	8.38B	7.42B	6B	4.37B	411M
Tangible Book Value Per Share	19.64	17.38	14.11	10.2	0.97
Total Debt	19.21B	16.31B	16.5B	21.52B	23.79B
Net Debt	10.07B	7.77B	10.34B	13.98B	16.51B
Debt Equivalent Oper. Leases	304M	296M	152M	304M	312M
Minority Interest, Total (Incl. Fin. Div)	-2.92B	-2.91B	-2.88B	-4.37B	-5.98B
Equity Method Investments, Total	166M	1.74B	5.88B	4.88B	4.56B
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Finished Goods, Total	1.5B	1.08B	1.42B	1.42B	1.87B
Land - (BS)	2.69B	2.57B	2.56B	2.63B	2.5B
Machinery, Total	10.24B	9.44B	9.08B	9.66B	8.89B
Full Time Employees	6.89K	7.03K	7.2K	7.1K	8K
Accumulated Allowance for Doubtful Accounts (Supple)	820M	747M	729M	712M	897M

Fiscal Period: March	2020	2021	2022	2023	2024
Net Income	507M	2.16B	1.36B	-3.48B	-3.97B
Depreciation & Amortization - CF	2.64B	2.57B	2.46B	2.54B	2.56B
Amortization of Goodwill and Intangible Assets - (CF)	71M	65M	53M	50M	52M
Depreciation & Amortization, Total	2.71B	2.64B	2.51B	2.58B	2.61B
Amortization of Deferred Charges, Total - (CF)	12.96B	11.82B	14.34B	15.14B	15.13B
(Gain) Loss From Sale Of Asset	-	-	-	-	-
Asset Writedown & Restructuring Costs	28M	-	287M	-	1.28B
Stock-Based Compensation (CF)	344M	140M	420M	433M	543M
Provision and Write-off of Bad Debts	-	152M	58M	24M	200M
Other Operating Activities, Total	4.34B	4.24B	4.84B	9.06B	4.85B
Change In Accounts Receivable	222M	156M	-1.12B	-1.63B	-1.94B
Change In Inventories	-16M	195M	-328M	154M	-807M
Change in Other Net Operating Assets	-13.33B	-12.58B	-13.72B	-16.54B	-14.66B
Cash from Operations	7.76B	8.93B	8.65B	5.75B	3.22B
Capital Expenditure	-618M	-755M	-626M	-690M	-517M
Sale of Property, Plant, and Equipment	40M	54M	15M	14M	6M
Cash Acquisitions	-	-	-	-	-
Divestitures	-	-	-	-	-
Sale (Purchase) of Intangible assets	-252M	-849M	-447M	-530M	-643M
Investment in Marketable and Equity Securities, Total	-78M	-1.4B	-4.37B	-259M	-132M
Net (Increase) Decrease in Loans Originated / Sold - Investing	-15M	21M	9M	12M	-1M
Other Investing Activities, Total	-459M	-146M	182M	179M	-8M
Cash from Investing	-1.38B	-3.08B	-5.24B	-1.27B	-1.3B
Long-Term Debt Issued, Total	-	2B	5.45B	12.91B	4B
Total Debt Issued	-	2B	5.45B	12.91B	4B
Long-Term Debt Repaid, Total	-1.44B	-2.49B	-4.87B	-10.49B	-2.57B
Total Debt Repaid	-1.44B	-2.49B	-4.87B	-10.49B	-2.57B
Repurchase of Common Stock	-1.68B	-152M	-395M	-109M	-577M
Common Dividends Paid	-	-2.41B	-2.42B	-2.42B	-
Common & Preferred Stock Dividends Paid	-	-2.41B	-2.42B	-2.42B	-
Other Financing Activities, Total	-1.64B	-1.49B	-1.98B	-1.52B	-176M
Cash from Financing	-4.76B	-4.54B	-4.22B	-1.62B	678M
Foreign Exchange Rate Adjustments	812M	-1.92B	-1.59B	-1.46B	-2.56B
Miscellaneous Cash Flow Adjustments	-	-	-	-	-317M
Net Change in Cash	2.42B	-608M	-2.38B	1.39B	-266M
Supplemental Items
Cash Interest Paid	737M	796M	752M	1.07B	1.79B
Cash Income Tax Paid (Refund)	3.99B	4.1B	3.57B	3.4B	3.66B
Levered Free Cash Flow	19.98B	20.11B	23.22B	20.26B	20.24B
Unlevered Free Cash Flow	20.63B	20.79B	23.98B	21.18B	21.49B
Change In Net Working Capital	-374M	-977M	-1.17B	2.17B	482M
Net Debt Issued / Repaid	-1.44B	-486M	580M	2.42B	1.43B

Fiscal Period: March	2020	2021	2022	2023	2024
Profitability
Return on Assets	11.74	14.6	15.51	14.03	10.61
Return on Total Capital	18.71	23.58	26.21	24.67	19.58
Return On Equity %	19.08	42.21	32.79	-43.51	-193.97
Return on Common Equity	4.09	17.19	11.62	-33.65	-54.35
Margin Analysis
Gross Profit Margin %	44.63	47.86	46.11	43.46	44.95
SG&A Margin	28.36	28.21	26.89	26.4	30.72
EBITDA Margin %	18.16	21.41	20.89	18.77	15.49
EBITA Margin %	16.08	19.52	19.22	17.25	13.97
EBIT Margin %	15.94	19.4	19.13	17.17	13.88
Income From Continuing Operations Margin %	3.64	7.64	5.22	-4.94	-7.41
Net Income Margin %	0.99	4.05	2.46	-5.88	-7.1
Net Avail. For Common Margin %	0.99	4.05	2.46	-5.88	-7.1
Normalized Net Income Margin	3.8	6.74	5.57	0.21	0.38
Levered Free Cash Flow Margin	38.89	37.71	42.04	34.26	36.17
Unlevered Free Cash Flow Margin	40.15	38.97	43.41	35.8	38.4
Asset Turnover
Asset Turnover	1.18	1.2	1.3	1.31	1.22
Fixed Assets Turnover	2.94	3.26	3.94	4.7	5
Receivables Turnover (Average Receivables)	28.16	35.49	35.72	32.15	24.94
Inventory Turnover (Average Inventory)	31.65	36.28	40.5	39.31	26.5
Short Term Liquidity
Current Ratio	1.14	1.02	0.83	1.01	1.03
Quick Ratio	0.65	0.61	0.43	0.51	0.59
Operating Cash Flow to Current Liabilities	0.42	0.48	0.41	0.25	0.16
Days Sales Outstanding (Average Receivables)	12.99	10.28	10.22	11.3