Cash flow Avance Gas Holding Ltd

Equities

AGAS

BMG067231032

Oil & Gas Transportation Services

Market Closed - Oslo Bors Other stock markets 15:45:00 18/09/2024 BST			5-day change	1st Jan Change
110.00 ^NOK	+0.92%		+9.56%	-26.47%

08-28	Transcript : Avance Gas Holding Ltd, Q2 2024 Earnings Call, Aug 28, 2024
08-28	Avance Gas Holding Ltd Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2024	CI

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Published financial data: AVANCE GAS HOLDING LTD

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	250M	206M	211M	255M	352M
Total Revenues	250M	206M	211M	255M	352M
Cost of Goods Sold, Total	118M	107M	110M	112M	119M
Gross Profit	133M	99.06M	101M	142M	233M
Selling General & Admin Expenses, Total	5.53M	3.87M	6.47M	6.67M	6.9M
Depreciation & Amortization - (IS)	41.85M	41.7M	47.21M	45.02M	43.93M
Other Operating Expenses, Total	47.38M	45.58M	53.68M	51.69M	50.83M
Operating Income	85.38M	53.48M	47.22M	90.6M	183M
Interest Expense, Total	-29.68M	-22.21M	-16.21M	-20.62M	-24.6M
Interest And Investment Income	376K	26K	1.86M	1.69M	5.18M
Net Interest Expenses	-29.3M	-22.19M	-14.35M	-18.93M	-19.42M
Currency Exchange Gains (Loss)	102K	223K	136K	-302K	60K
Other Non Operating Income (Expenses)	-183K	-91K	-401K	-737K	579K
EBT, Excl. Unusual Items	56M	31.43M	32.61M	70.63M	164M
Impairment of Goodwill	-	-	-	-	-
Gain (Loss) On Sale Of Assets	-	5.83M	-	18.65M	-
Asset Writedown	-	33.73M	-	-	-
Other Unusual Items	-	-	-	-	-
EBT, Incl. Unusual Items	56M	70.99M	32.61M	89.28M	164M
Income Tax Expense	45K	85K	498K	285K	258K
Earnings From Continuing Operations	55.95M	70.91M	32.11M	88.99M	164M
Net Income to Company	55.95M	70.91M	32.11M	88.99M	164M
Net Income - (IS)	55.95M	70.91M	32.11M	88.99M	164M
Net Income to Common Incl Extra Items	55.95M	70.91M	32.11M	88.99M	164M
Net Income to Common Excl. Extra Items	55.95M	70.91M	32.11M	88.99M	164M
Per Share Items
Net EPS - Basic	0.88	1.11	0.44	1.16	2.14
Basic EPS - Continuing Operations	0.88	1.11	0.44	1.16	2.14
Basic Weighted Average Shares Outstanding	63.69M	63.69M	73.13M	76.59M	76.59M
Net EPS - Diluted	0.88	1.11	0.44	1.16	2.12
Diluted EPS - Continuing Operations	0.88	1.11	0.44	1.16	2.12
Diluted Weighted Average Shares Outstanding	63.9M	63.83M	73.22M	76.9M	77.04M
Normalized Basic EPS	0.55	0.31	0.28	0.58	1.34
Normalized Diluted EPS	0.55	0.31	0.28	0.57	1.33
Dividend Per Share	0.3	0.11	0.26	1.1	2.15
Payout Ratio	-	26.95	71.87	55.94	93.65
Supplemental Items
EBITDA	124M	91.26M	85.53M	129M	221M
EBITA	85.38M	53.48M	47.22M	90.6M	183M
EBIT	85.38M	53.48M	47.22M	90.6M	183M
Effective Tax Rate - (Ratio)	0.08	0.12	1.53	0.32	0.16
Current Foreign Taxes	-	85K	498K	285K	258K
Total Current Taxes	-	85K	498K	285K	258K
Normalized Net Income	35M	19.64M	20.38M	44.14M	102M
Interest Capitalized	-	393K	2.72M	2.59M	1.24M
Interest on Long-Term Debt	29.68M	22.6M	19.31M	23.22M	25.83M
Supplemental Operating Expense Items
General and Administrative Expenses	5.53M	3.87M	6.47M	6.67M	6.9M
Maintenance & Repair Expenses, Total	4.73M	3.83M	2.21M	1.27M	1.57M
Stock-Based Comp., G&A Exp. (Total)	88.64K	-165K	290K	-298K	211K
Total Stock-Based Compensation	88.64K	-165K	290K	-298K	211K

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	85.91M	75.88M	102M	224M	132M
Trading Asset Securities, Total	-	-	-	-	4.95M
Total Cash And Short Term Investments	85.91M	75.88M	102M	224M	136M
Accounts Receivable, Total	25.77M	16.29M	21.1M	12.23M	42.4M
Other Receivables	331K	164K	135K	2K	563K
Total Receivables	26.1M	16.46M	21.23M	12.23M	42.96M
Inventory	9.28M	4.36M	7.93M	4.98M	9.78M
Prepaid Expenses	4.42M	45K	6.94M	7.46M	14.21M
Other Current Assets, Total	10.44M	7.51M	5.94M	13.63M	50.35M
Total Current Assets	136M	104M	144M	263M	254M
Gross Property Plant And Equipment	1.07B	1.09B	1.15B	1.1B	1.21B
Accumulated Depreciation	-312M	-298M	-345M	-298M	-312M
Net Property Plant And Equipment	763M	793M	809M	799M	896M
Long-term Investments	-	-	2.24M	-	3.65M
Goodwill	-	-	-	-	-
Other Intangibles, Total	-	-	-	-	-
Other Long-Term Assets, Total	-	-	-	5.87M	-
Total Assets	899M	897M	955M	1.07B	1.15B
Liabilities
Accounts Payable, Total	14.24M	2.85M	7.48M	4.31M	4.43M
Accrued Expenses, Total	9.02M	3.77M	7.49M	5.74M	10.99M
Short-term Borrowings	-	-	-	-	-
Current Portion of Long-Term Debt	43.52M	46.97M	43.51M	30.52M	36.23M
Current Portion of Leases	-	2.25M	6.76M	6.76M	33.62M
Other Current Liabilities	372K	56K	457K	2.37M	10.08M
Total Current Liabilities	67.14M	55.9M	65.69M	49.7M	95.36M
Long-Term Debt	421M	347M	275M	345M	420M
Long-Term Leases	-	42.12M	75.66M	68.89M	34.4M
Total Liabilities	488M	445M	416M	464M	550M
Common Stock, Total	64.53M	64.53M	77.43M	77.43M	77.43M
Additional Paid In Capital	475M	475M	526M	526M	526M
Retained Earnings	-106M	-53.86M	-44.82M	-5.62M	4.77M
Treasury Stock	-11.35M	-11.35M	-11.35M	-11.35M	-11.35M
Comprehensive Income and Other	-11.21M	-21.38M	-8.52M	17.33M	6.6M
Total Common Equity	411M	453M	539M	604M	604M
Total Equity	411M	453M	539M	604M	604M
Total Liabilities And Equity	899M	897M	955M	1.07B	1.15B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	63.69M	63.69M	76.59M	76.59M	76.59M
ECS Total Common Shares Outstanding	63.69M	63.69M	76.59M	76.59M	76.59M
Book Value / Share	6.45	7.11	7.04	7.88	7.88
Tangible Book Value	411M	453M	539M	604M	604M
Tangible Book Value Per Share	6.45	7.11	7.04	7.88	7.88
Total Debt	464M	438M	401M	452M	524M
Net Debt	378M	362M	299M	227M	388M
Account Code - Inventory Valuation	5	5	5	5	5
Machinery, Total	1.07B	1.06B	1.06B	1.01B	1.12B
Full Time Employees	8	7	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	255K	131K	353K	504K	257K

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	55.95M	70.91M	32.11M	88.99M	164M
Depreciation & Amortization - CF	38.33M	37.78M	38.31M	38.34M	37.93M
Depreciation & Amortization, Total	38.33M	37.78M	38.31M	38.34M	37.93M
Amortization of Deferred Charges, Total - (CF)	6.2M	5.54M	10.14M	10.32M	7.07M
(Gain) Loss From Sale Of Asset	-	-5.83M	-	-18.65M	-
Asset Writedown & Restructuring Costs	-	-33.73M	-	-	-
Stock-Based Compensation (CF)	89K	-165K	-669K	-298K	211K
Other Operating Activities, Total	-6.27M	-481K	-2.37M	-1.96M	-2.93M
Change In Accounts Receivable	-12.02M	9.78M	-4.8M	9M	-30.73M
Change In Accounts Payable	7.03M	-11.38M	5.03M	-3.17M	125K
Change in Other Net Operating Assets	-5.84M	6.55M	-5.15M	-389K	-9.92M
Cash from Operations	83.46M	78.95M	72.6M	122M	165M
Capital Expenditure	-8.82M	-66.22M	-60.18M	-155M	-177M
Sale of Property, Plant, and Equipment	-	34.26M	-	142M	-
Other Investing Activities, Total	-	-	-	-	-
Cash from Investing	-8.82M	-31.96M	-60.18M	-13.58M	-177M
Short Term Debt Issued, Total	-	-	-	-	-
Long-Term Debt Issued, Total	540M	59.47M	41.65M	429M	115M
Total Debt Issued	540M	59.47M	41.65M	429M	115M
Long-Term Debt Repaid, Total	-576M	-97.34M	-67.78M	-365M	-43.15M
Total Debt Repaid	-576M	-97.34M	-67.78M	-365M	-43.15M
Issuance of Common Stock	81K	-	64.41M	-	-
Repurchase of Common Stock	-	-	-	-	-
Common Dividends Paid	-	-19.11M	-23.08M	-49.79M	-153M
Common & Preferred Stock Dividends Paid	-	-19.11M	-23.08M	-49.79M	-153M
Other Financing Activities, Total	-	-	-1.71M	-145K	928K
Cash from Financing	-36.19M	-56.98M	13.5M	14.23M	-80.41M
Foreign Exchange Rate Adjustments	163K	-40K	110K	-509K	-205K
Miscellaneous Cash Flow Adjustments	-	-	-	-	-
Net Change in Cash	38.62M	-10.03M	26.03M	122M	-92.73M
Supplemental Items
Cash Interest Paid	28.13M	20.93M	17.6M	19.06M	24M
Levered Free Cash Flow	59.78M	1.39M	3.01M	-62.25M	-105M
Unlevered Free Cash Flow	75.65M	13.66M	11.9M	-53M	-91.09M
Change In Net Working Capital	10.83M	-4.92M	4.93M	-754K	71.92M
Net Debt Issued / Repaid	-36.27M	-37.87M	-26.13M	64.16M	71.85M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	6.03	3.72	3.19	5.6	10.28
Return on Total Capital	6.16	3.79	3.22	5.68	10.45
Return On Equity %	14.43	16.42	6.48	15.57	27.09
Return on Common Equity	14.43	16.42	6.48	15.57	27.09
Margin Analysis
Gross Profit Margin %	53.01	48.15	47.89	55.9	66.26
SG&A Margin	2.21	1.88	3.07	2.62	1.96
EBITDA Margin %	49.4	44.36	40.6	50.66	62.6
EBITA Margin %	34.09	26	22.41	35.59	51.83
EBIT Margin %	34.09	26	22.41	35.59	51.83
Income From Continuing Operations Margin %	22.34	34.47	15.24	34.96	46.43
Net Income Margin %	22.34	34.47	15.24	34.96	46.43
Net Avail. For Common Margin %	22.34	34.47	15.24	34.96	46.43
Normalized Net Income Margin	13.98	9.55	9.67	17.34	29.06
Levered Free Cash Flow Margin	23.87	0.68	1.43	-24.46	-29.91
Unlevered Free Cash Flow Margin	30.21	6.64	5.65	-20.82	-25.85
Asset Turnover
Asset Turnover	0.28	0.23	0.23	0.25	0.32
Fixed Assets Turnover	0.32	0.26	0.26	0.32	0.42
Receivables Turnover (Average Receivables)	12.68	9.78	11.27	15.28	12.9
Inventory Turnover (Average Inventory)	15.65	15.64	17.86	17.39	16.11
Short Term Liquidity
Current Ratio	2.03	1.87	2.19	5.28	2.66
Quick Ratio	1.67	1.65	1.87	4.76	1.88
Operating Cash Flow to Current Liabilities	1.24	1.41	1.11	2.46	1.73
Days Sales Outstanding (Average Receivables)	28.79	37.41	32.39	23.89	28.3
Days Outstanding Inventory (Average Inventory)	23.32	23.41	20.43	20.99	22.65
Average Days Payable Outstanding	32.29	30.74	16.63	19.68	12.9
Cash Conversion Cycle (Average Days)	19.83	30.08	36.19	25.2	38.05
Long Term Solvency
Total Debt/Equity	112.94	96.78	74.34	74.76	86.83
Total Debt / Total Capital	53.04	49.18	42.64	42.78	46.48
LT Debt/Equity	102.36	85.9	65.01	68.59	75.26
Long-Term Debt / Total Capital	48.07	43.65	37.29	39.25	40.28
Total Liabilities / Total Assets	54.27	49.56	43.57	43.45	47.66
EBIT / Interest Expense	2.88	2.41	2.91	4.39	7.42
EBITDA / Interest Expense	4.17	4.11	5.28	6.25	8.97
(EBITDA - Capex) / Interest Expense	3.87	1.13	1.56	-1.27	1.75
Total Debt / EBITDA	3.75	4.8	4.69	3.5	2.38
Net Debt / EBITDA	3.06	3.97	3.49	1.76	1.76
Total Debt / (EBITDA - Capex)	4.04	17.49	15.81	-17.26	12.16
Net Debt / (EBITDA - Capex)	3.29	14.46	11.79	-8.69	9
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	92.72	-17.85	2.41	20.82	38.41
Gross Profit, 1 Yr. Growth %	343.52	-25.38	1.85	41.03	64.07
EBITDA, 1 Yr. Growth %	441.99	-26.23	-6.28	50.76	71.05
EBITA, 1 Yr. Growth %	-643.64	-37.36	-11.71	91.87	101.56
EBIT, 1 Yr. Growth %	-643.64	-37.36	-11.71	91.87	101.56
Earnings From Cont. Operations, 1 Yr. Growth %	-229.47	26.73	-54.72	177.16	83.81
Net Income, 1 Yr. Growth %	-229.47	26.73	-54.72	177.16	83.81
Normalized Net Income, 1 Yr. Growth %	-229.74	-43.87	3.75	116.61	131.97
Diluted EPS Before Extra, 1 Yr. Growth %	-229.18	26.36	-60.44	164.2	82.76
Accounts Receivable, 1 Yr. Growth %	87.5	-36.77	29.49	-42.04	246.77
Inventory, 1 Yr. Growth %	61.4	-53.06	82.03	-37.27	96.46
Net Property, Plant and Equip., 1 Yr. Growth %	-4.08	3.94	2.04	-1.2	12.1
Total Assets, 1 Yr. Growth %	3.24	-0.2	6.48	11.77	8.03
Tangible Book Value, 1 Yr. Growth %