Cash flow Virgin Money UK PLC

Equities

CYBG

GB00BD6GN030

Banks

Market Closed - London S.E. Other stock markets 11:35:21 2024-09-19 EDT			5-day change	1st Jan Change
217.20 ^GBX	0.00%		+0.09%	+32.08%

09-18	Big banks in Britain eyed by watchdog over low saving rates	RE
09-12	Britain's challenger banks boosted by capital rules revamp	RE

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Published financial data: VIRGIN MONEY UK PLC

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: September	2019	2020	2021	2022	2023
Interest Income On Loans	2.42B	2.13B	1.91B	2.22B	3.83B
Interest Income On Investments	13M	8M	4M	2M	3M
Interest Income, Total	2.43B	2.14B	1.91B	2.22B	3.83B
Interest On Deposits	919M	854M	553M	641M	2.15B
Interest Expense, Total	919M	854M	553M	641M	2.15B
Net Interest Income	1.51B	1.28B	1.36B	1.58B	1.69B
Gain (Loss) on Sale of Assets	35M	-	-	-	-
Gain (Loss) on Sale of Invest. & Securities - (Rev)	3M	16M	-	4M	1M
Income (Loss) on Equity Invest. (Income Block)	-1M	-7M	-5M	-4M	-
Total Other Non Interest Income	198M	151M	137M	140M	139M
Non Interest Income, Total	235M	160M	132M	140M	140M
Revenues Before Provison For Loan Losses	1.75B	1.44B	1.49B	1.72B	1.83B
Provision For Loan Losses	252M	501M	-131M	52M	309M
Total Revenues	1.5B	942M	1.62B	1.66B	1.52B
Salaries And Other Employee Benefits	417M	386M	389M	421M	432M
Occupancy Expense	108M	149M	273M	170M	190M
Selling General & Admin Expenses, Total	506M	368M	289M	269M	408M
Total Other Non Interest Expense	-	-	-56M	-	-
Non Interest Expense, Total	1.03B	903M	895M	860M	1.03B
EBT, Excl. Unusual Items	466M	39M	725M	804M	488M
Restructuring Charges	-154M	-139M	-146M	-82M	-131M
Total Merger & Related Restructuring Charges	-138M	-	-	-	-
Asset Writedown	-	-	-7M	-47M	-
Other Unusual Items	-406M	-68M	-155M	-80M	-12M
EBT, Incl. Unusual Items	-232M	-168M	417M	595M	345M
Income Tax Expense	-38M	-27M	-57M	58M	99M
Earnings From Continuing Operations	-194M	-141M	474M	537M	246M
Net Income to Company	-194M	-141M	474M	537M	246M
Minority Interest	-74M	-79M	-79M	-70M	-54M
Net Income - (IS)	-268M	-220M	395M	467M	192M
Preferred Dividend and Other Adjustments	-15M	-	-	-	-
Net Income to Common Incl Extra Items	-253M	-220M	395M	467M	192M
Net Income to Common Excl. Extra Items	-253M	-220M	395M	467M	192M
Per Share Items
Net EPS - Basic	-0.18	-0.15	0.27	0.32	0.14
Basic EPS - Continuing Operations	-0.18	-0.15	0.27	0.32	0.14
Basic Weighted Average Shares Outstanding	1.41B	1.44B	1.44B	1.44B	1.38B
Net EPS - Diluted	-0.18	-0.15	0.27	0.32	0.14
Diluted EPS - Continuing Operations	-0.18	-0.15	0.27	0.32	0.14
Diluted Weighted Average Shares Outstanding	1.41B	1.44B	1.44B	1.44B	1.38B
Normalized Basic EPS	0.15	-0.04	0.26	0.3	0.18
Normalized Diluted EPS	0.15	-0.04	0.26	0.3	0.18
Dividend Per Share	-	-	0.01	0.1	0.05
Payout Ratio	-29.1	-35.91	20	25.7	105.21
American Depositary Receipts Ratio (ADR)	1	1	1	1	1
Supplemental Items
Effective Tax Rate - (Ratio)	16.38	16.07	-13.67	9.75	28.7
Current Domestic Taxes	15M	4M	62M	85M	38M
Total Current Taxes	15M	4M	62M	85M	38M
Deferred Domestic Taxes	-53M	-31M	-119M	-27M	61M
Total Deferred Taxes	-53M	-31M	-119M	-27M	61M
Normalized Net Income	217M	-54.62M	374M	432M	251M
Non-Cash Pension Expense	9M	-	-9M	-24M	-50M
Supplemental Operating Expense Items
Stock-Based Comp., SG&A Exp. (Total)	4M	10M	8M	4M	-
Stock-Based Comp., Other (Total)	-	-	-	-	6M
Total Stock-Based Compensation	4M	10M	8M	4M	6M

Fiscal Period: September	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	10.16B	9.76B	10.24B	1.62B	1.49B
Investment Securities, Total	4.33B	5.08B	4.35B	5.06B	6.19B
Trading Asset Securities, Total	633M	521M	293M	420M	196M
Total investments	4.96B	5.6B	4.64B	5.48B	6.39B
Gross Loans	73.49B	73.2B	72.58B	73.19B	73.38B
Allowance For Loan Losses	-362M	-735M	-496M	-454M	-612M
Other Adjustments to Gross Loans	-36M	-36M	-209M	-986M	-575M
Net Loans	73.1B	72.43B	71.88B	71.75B	72.19B
Gross Property Plant And Equipment	349M	-	-	-	-
Accumulated Depreciation	-204M	-	-	-	-
Net Property Plant And Equipment	145M	288M	250M	211M	184M
Goodwill	11M	11M	11M	11M	11M
Other Intangibles, Total	505M	480M	362M	256M	162M
Investment in Real Estate	-	-	-	-	40M
Accrued Interest Receivable	-	-	-	-	-
Other Receivables	976M	30M	23M	10M	87M
Restricted Cash	238M	273M	276M	11.26B	10.46B
Other Current Assets, Total	-	-	-	-	-
Deferred Tax Assets Long-Term (Collected)	322M	326M	377M	146M	193M
Other Long-Term Assets, Total	590M	1.06B	1.04B	1.16B	577M
Total Assets	91B	90.26B	89.1B	91.91B	91.79B
Liabilities
Accrued Expenses, Total	130M	94M	76M	74M	67M
Interest Bearing Deposits	60.84B	63.03B	61.96B	60.46B	62.14B
Non-Interest Bearing Deposits	3B	4.55B	4.94B	4.95B	4.54B
Total Deposits	63.84B	67.58B	66.89B	65.41B	66.69B
Short-Term Borrowings	273M	250M	209M	1.53B	842M
Current Portion of Long-Term Debt	1.83B	1.65B	1.29B	1.53B	1.88B
Current Portion of Leases	-	27M	26M	22M	22M
Long-Term Debt	16.63B	12.52B	12.29B	14.22B	14.15B
Long-Term Leases	-	148M	128M	110M	158M
Current Income Taxes Payable	-	-	-	1M	-
Accrued Interest Payable	207M	188M	99M	74M	218M
Other Current Liabilities - (Bank / Utility Template)	-	-	-	-	-
Unearned Revenue Non Current	-	35M	20M	-	-
Pension & Other Post Retirement Benefits	3M	-	-	-	-
Deferred Tax Liability Non-Current	201M	274M	296M	350M	179M
Other Non Current Liabilities	2.86B	2.56B	2.3B	2.24B	1.98B
Total Liabilities	85.98B	85.33B	83.63B	85.57B	86.18B
Common Stock, Total	143M	144M	144M	141M	134M
Additional Paid In Capital	3M	3M	5M	7M	9M
Retained Earnings	2.66B	2.62B	3.05B	3.47B	3.05B
Treasury Stock	-1M	-	-	-	-2M
Comprehensive Income and Other	2.22B	2.16B	2.28B	2.72B	2.41B
Total Common Equity	5.02B	4.93B	5.47B	6.34B	5.61B
Total Equity	5.02B	4.93B	5.47B	6.34B	5.61B
Total Liabilities And Equity	91B	90.26B	89.1B	91.91B	91.79B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	1.43B	1.44B	1.44B	1.41B	1.34B
ECS Total Common Shares Outstanding	1.43B	1.44B	1.44B	1.41B	1.34B
Book Value / Share	3.5	3.43	3.8	4.5	3.73
Tangible Book Value	4.5B	4.44B	5.1B	6.07B	5.43B
Tangible Book Value Per Share	3.14	3.09	3.54	4.31	3.6
Tangible Book Value Per Share (As Reported)	2.49	2.44	2.9	3.83	3.6
Average Assets	89.91B	90.52B	90.54B	89.5B	92.19B
Average Loans	72.5B	73.13B	72.63B	72.36B	73.02B
Total Debt	18.74B	14.6B	13.94B	17.42B	17.05B
Deposits at Interest - Cash	8.54B	8.25B	8.88B	11.4B	10.58B
Debt Equivalent of Unfunded Proj. Benefit Obligation	-396M	-723M	-847M	-1B	-512M
Net Debt	7.95B	4.31B	3.41B	15.38B	15.37B
Equity Method Investments, Total	-	-	-	-	10M
Full Time Employees	9.67K	9.28K	7.42K	7.83K	8.11K
Number Of Offices	-	-	-	-	-

Fiscal Period: September	2019	2020	2021	2022	2023
Net Income	-268M	-220M	395M	467M	192M
Depreciation, Depletion & Amortization	25M	46M	55M	48M	56M
Amortization of Goodwill and Intangible Assets - (CF)	1M	1M	1M	3M	-
Total Depreciation, Depletion & Amortization	26M	47M	56M	51M	56M
Amortization of Deferred Charges, Total	82M	102M	123M	81M	60M
(Gain) Loss On Sale of Asset - (CF)	-35M	-	-	-	-
(Gain) Loss on Sale of Investments - (CF)	17M	-5M	5M	13M	11M
Total Asset Writedown	132M	6M	1M	47M	-
Restructuring Activities	-	-	11M	-	-
Provision for Credit Losses	252M	507M	-131M	52M	309M
Stock-Based Compensation (CF)	4M	10M	5M	4M	5M
Change in Trading Asset Securities	134M	-31M	299M	1.9B	-251M
Change in Other Net Operating Assets (Collected)	-2.55B	-1.9B	151M	580M	-1.26B
Other Operating Activities	90M	233M	326M	227M	581M
Cash from Operations	-2.11B	-1.25B	1.24B	3.43B	-295M
Capital Expenditure	-20M	-14M	-26M	-13M	-9M
Sale of Property, Plant, and Equipment	3M	5M	6M	1M	1M
Cash Acquisitions	4.11B	-	-	-	-
Purchase / Sale of Intangible Assets	-130M	-78M	-80M	-53M	-11M
Investment in Marketable and Equity Securities, Total	-591M	-685M	546M	-1.35B	-1.08B
Other Investing Activities, Total	27M	35M	19M	47M	232M
Cash from Investing	3.4B	-737M	465M	-1.37B	-869M
Long-Term Debt Issued, Total	2.87B	2.71B	4.08B	5.03B	2.57B
Total Debt Issued	2.87B	2.71B	4.08B	5.03B	2.57B
Long-Term Debt Repaid, Total	-3.3B	-5.5B	-4.46B	-2.53B	-2.47B
Total Debt Repaid	-3.3B	-5.5B	-4.46B	-2.53B	-2.47B
Issuance of Common Stock	247M	-	-	347M	-
Repurchase of Common Stock	-	-	-	-667M	-184M
Repurchase of Preferred Stock	-	-	-	-	-
Common Dividends Paid	-78M	-79M	-79M	-120M	-202M
Common & Preferred Stock Dividends Paid	-78M	-79M	-79M	-120M	-202M
Net Increase (Decrease) in Deposit Accounts - (CF)	2.84B	3.73B	-644M	-1.51B	1.25B
Other Financing Activities, Total	-282M	-195M	-161M	-246M	-742M
Cash from Financing	2.3B	666M	-1.27B	300M	226M
Net Change in Cash	3.58B	-1.32B	439M	2.36B	-938M
Supplemental Items
Cash Interest Paid	826M	879M	622M	624M	1.92B
Cash Income Tax Paid (Refund)	8M	12M	27M	59M	48M
Net Debt Issued / Repaid	-429M	-2.79B	-383M	2.5B	105M

Fiscal Period: September	2019	2020	2021	2022	2023
Profitability
Return on Assets	-0.29	-0.16	0.53	0.59	0.27
Return On Equity %	-4.73	-2.83	9.11	9.09	4.12
Return on Common Equity	-6.17	-4.42	7.59	7.91	3.21
Shareholders Value Added	-577M	-729M	-137M	-188M	-443M
Margin Analysis
SG&A Margin	68.87	95.86	58.7	51.68	67.85
Net Interest Income / Total Revenues %	101.14	136.2	83.77	94.71	111.13
EBT Excl. Non-Recurring Items Margin %	31.13	4.14	44.75	48.32	32.15
Income From Continuing Operations Margin %	-12.96	-14.97	29.26	32.27	16.21
Net Income Margin %	-17.9	-23.35	24.38	28.06	12.65
Net Avail. For Common Margin %	-16.9	-23.35	24.38	28.06	12.65
Normalized Net Income Margin	14.51	-5.8	23.09	25.99	16.53
Asset quality
Nonperforming Loans / Total Loans %	1.1	1.18	1.32	1.42	1.47
Nonperforming Loans / Total Assets %	0.89	0.96	1.07	1.13	1.18
Nonperforming Assets / Total Assets %	0.89	0.96	1.07	1.13	1.18
NPAs / Loans and OREO	1.1	1.18	1.32	1.42	1.47
NPAs / Equity	16.07	17.48	17.49	16.34	19.26
Allowance for Credit Losses / Net Charge-offs %	317.54	548.51	496	458.59	410.74
Allowance for Credit Losses / Nonperforming Loans %	44.86	85.27	51.83	43.82	56.67
Allowance for Credit Losses / Total Loans %	0.49	1	0.68	0.62	0.83
Net Charge-offs / Total Average Loans %	0.16	0.18	0.14	0.14	0.2
Provision for Loan Losses / Net Charge-offs %	221.05	373.88	-131	52.53	207.38
Earning Assets / IBL	110.38	111.23	113.25	113.62	112.49
Interest Income / Average Assets	2.71	2.36	2.11	2.48	4.16
Interest Expense / Average Assets	1.02	0.94	0.61	0.72	2.33
Net Interest Income / Average Assets	1.68	1.42	1.5	1.76	1.83
Non Interest Income / Average Assets	0.26	0.18	0.15	0.16	0.15
Non Interest Expense / Average Asset	1.15	1	0.99	0.96	1.12
Capital And Funding
Total Average Common Equity / Total Average Assets %