Cash flow Azelis Group N.V.

Stocks

AZE

BE0974400328

Diversified Industrial Goods Wholesale

Market Closed - Euronext Bruxelles Other stock markets 16:55:00 20/07/2026 BST			5-day change	1st Jan Change
10.59 ^EUR	0.00%		+1.73%	+13.26%

06-16	Brenntag Lags Dax as Deutsche Bank Pivots to IMCD and Azelis	DP
05-13	Azelis Group NV Approves Dividend for the Fiscal Year 2025, Payable on 1 July 2026	CI

fc7008e695e06f15c13a1f7ce833.OzkYlxWLo5VhvPF74oNUStGhNejSz6FrRKBDkJyzpbA.cnR5-kL54eIu7qUB2s8cHeSQAdmTquwcN9EzxrHe1vtNXF_HWOjs_SzPyQ

Published financial data: AZELIS GROUP N.V.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	2.83B	4.11B	4.15B	4.21B	4.11B
Total Revenues	2.83B	4.11B	4.15B	4.21B	4.11B
Cost of Goods Sold, Total	2.19B	3.16B	3.19B	3.21B	3.16B
Gross Profit	642M	945M	961M	1.01B	947M
Selling General & Admin Expenses, Total	366M	481M	490M	527M	526M
Depreciation & Amortization - (IS)	19.9M	27.84M	34.34M	41.48M	44.46M
Amortization of Goodwill and Intangible Assets - (IS)	39.48M	56.89M	66.76M	73.44M	71.89M
Other Operating Expenses	-8.47M	-15.8M	-23.45M	-23.96M	-21.7M
Other Operating Expenses, Total	417M	550M	568M	618M	621M
Operating Income	225M	395M	393M	389M	326M
Interest Expense, Total	-53.24M	-39.66M	-100M	-114M	-99.9M
Interest And Investment Income	618K	621K	10.69M	14.82M	5.12M
Net Interest Expenses	-52.62M	-39.04M	-89.79M	-98.71M	-94.78M
Income (Loss) On Equity Invest.	-68K	59K	100K	19K	31K
Currency Exchange Gains (Loss)	-1.24M	-2.09M	-7.68M	-12.12M	-20.17M
Other Non Operating Income (Expenses)	-14.08M	-25.72M	-21.23M	3.05M	-17.04M
EBT, Excl. Unusual Items	157M	329M	274M	281M	194M
Merger & Related Restructuring Charges	-8.9M	-6.9M	-5.8M	-3.2M	-1.7M
Asset Writedown	-	-	-	-	-10.86M
Insurance Settlements	-	-	-	-	-
Other Unusual Items	-28.02M	-6.96M	-21.07M	-22.06M	-6.13M
EBT, Incl. Unusual Items	120M	315M	247M	256M	175M
Income Tax Expense	49.97M	95.79M	57.93M	66.64M	61.82M
Earnings From Continuing Operations	70.22M	219M	189M	189M	113M
Net Income to Company	70.22M	219M	189M	189M	113M
Minority Interest	-2.47M	-5.69M	-11.61M	-8.78M	-2.22M
Net Income - (IS)	67.76M	213M	178M	181M	111M
Net Income to Common Incl Extra Items	67.76M	213M	178M	181M	111M
Net Income to Common Excl. Extra Items	67.76M	213M	178M	181M	111M
Per Share Items
Net EPS - Basic	0.29	0.91	0.74	0.74	0.46
Basic EPS - Continuing Operations	0.29	0.91	0.74	0.74	0.46
Basic Weighted Average Shares Outstanding	234M	234M	240M	244M	244M
Net EPS - Diluted	0.29	0.91	0.74	0.74	0.46
Diluted EPS - Continuing Operations	0.29	0.91	0.74	0.74	0.46
Diluted Weighted Average Shares Outstanding	234M	234M	240M	244M	244M
Normalized Basic EPS	0.41	0.85	0.67	0.69	0.49
Normalized Diluted EPS	0.41	0.85	0.67	0.69	0.49
Dividend Per Share	0.03	0.28	0.22	0.23	0.23
Payout Ratio	-	3.29	38.14	29.5	49.38
American Depositary Receipts Ratio (ADR)	0.5	0.5	0.5	0.5	0.5
Supplemental Items
EBITDA	268M	458M	469M	468M	404M
EBITA	263M	450M	456M	459M	394M
EBIT	225M	395M	393M	389M	326M
EBITDAR	270M	460M	469M	470M	407M
Total Revenues (As Reported)	2.84B	4.12B	4.18B	4.24B	4.13B
Effective Tax Rate - (Ratio)	41.58	30.44	23.43	26.02	35.28
Total Current Taxes	52.05M	87.34M	79.47M	77.9M	67.2M
Total Deferred Taxes	-2.08M	8.46M	-21.54M	-11.26M	-5.38M
Normalized Net Income	95.73M	200M	160M	167M	119M
Interest on Long-Term Debt	2.95M	3.42M	4.56M	8.21M	8.36M
Non-Cash Pension Expense	-281K	865K	293K	-65K	155K
Supplemental Operating Expense Items
Research And Development Expense From Footnotes	1.7M	2M	1.43M	1.66M	4.12M
Net Rental Expense, Total	2.78M	1.95M	449K	1.83M	3.35M
Imputed Operating Lease Interest Expense	1.03M	506K	225K	920K	1.44M
Imputed Operating Lease Depreciation	1.76M	1.45M	224K	913K	1.91M
Stock-Based Comp., SG&A Exp. (Total)	-	839K	1.37M	1.28M	1.8M
Total Stock-Based Compensation	-	839K	1.37M	1.28M	1.8M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	141M	268M	485M	304M	263M
Short Term Investments	-	-	-	-	-
Total Cash And Short Term Investments	141M	268M	485M	304M	263M
Accounts Receivable, Total	376M	443M	445M	496M	440M
Other Receivables	57.79M	105M	101M	104M	95.57M
Total Receivables	433M	548M	546M	600M	535M
Inventory	467M	628M	563M	678M	588M
Other Current Assets, Total	1.52M	280K	60K	604K	5K
Total Current Assets	1.04B	1.44B	1.59B	1.58B	1.39B
Gross Property Plant And Equipment	172M	236M	309M	381M	430M
Accumulated Depreciation	-53.48M	-81.25M	-112M	-154M	-198M
Net Property Plant And Equipment	119M	155M	197M	228M	232M
Long-term Investments	180K	235K	285K	254K	240K
Goodwill	1.8B	2.17B	2.41B	2.54B	2.47B
Other Intangibles, Total	1B	1.17B	1.35B	1.38B	1.27B
Deferred Tax Assets Long-Term	10.48M	20.6M	15.69M	22.1M	25.67M
Deferred Charges Long-Term	3.54M	3.83M	3.72M	7.59M	18.42M
Other Long-Term Assets, Total	1.36M	11.76M	7.75M	1.39M	4.23M
Total Assets	3.98B	4.98B	5.57B	5.76B	5.41B
Liabilities
Accounts Payable, Total	369M	463M	434M	487M	438M
Accrued Expenses, Total	77.84M	99.31M	84.44M	81.39M	64.52M
Short-term Borrowings	40.52M	30.41M	18.29M	19.15M	14.24M
Current Portion of Long-Term Debt	62.6M	125M	80.56M	47.18M	94.61M
Current Portion of Leases	15.2M	20.39M	26.27M	29.28M	28.36M
Current Income Taxes Payable	17.05M	23.99M	11.5M	20.22M	14.72M
Other Current Liabilities	96.55M	213M	285M	135M	54.91M
Total Current Liabilities	678M	975M	940M	819M	710M
Long-Term Debt	840M	1.18B	1.55B	1.61B	1.6B
Long-Term Leases	54.08M	81.17M	100M	134M	134M
Pension & Other Post Retirement Benefits	8.82M	8.52M	13.64M	13.88M	13.03M
Deferred Tax Liability Non Current	135M	191M	218M	226M	221M
Other Non Current Liabilities	13.78M	103M	72.97M	35.68M	10.7M
Total Liabilities	1.73B	2.54B	2.9B	2.84B	2.69B
Common Stock, Total	5.68B	5.68B	5.88B	5.88B	5.88B
Additional Paid In Capital	-	-	-	-	-
Retained Earnings	565M	799M	962M	1.15B	1.21B
Comprehensive Income and Other	-4.02B	-4.09B	-4.25B	-4.15B	-4.4B
Total Common Equity	2.23B	2.38B	2.59B	2.88B	2.69B
Minority Interest	23.79M	55.14M	86.58M	44.01M	21.15M
Total Equity	2.25B	2.44B	2.68B	2.92B	2.72B
Total Liabilities And Equity	3.98B	4.98B	5.57B	5.76B	5.41B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	234M	234M	244M	244M	243M
ECS Total Common Shares Outstanding	234M	234M	244M	-	243M
Book Value / Share	9.53	10.2	10.63	11.81	11.07
Tangible Book Value	-576M	-956M	-1.16B	-1.04B	-1.05B
Tangible Book Value Per Share	-2.46	-4.09	-4.78	-4.29	-4.29
Total Debt	1.01B	1.44B	1.78B	1.84B	1.87B
Net Debt	871M	1.17B	1.29B	1.54B	1.61B
Debt Equivalent of Unfunded Proj. Benefit Obligation	6.17M	-8.12M	3.7M	5.87M	7.28M
Debt Equivalent Oper. Leases	22.28M	15.63M	3.59M	14.66M	26.82M
Minority Interest, Total (Incl. Fin. Div)	23.79M	55.14M	86.58M	44.01M	21.15M
Equity Method Investments, Total	180K	235K	285K	254K	240K
Account Code - Inventory Valuation	6	6	5	5	5
Inventories - Others	506M	688M	620M	715M	616M
Land - (BS)	31.57M	32.49M	30.92M	27.28M	38.78M
Machinery, Total	12.3M	15.19M	19.9M	20.75M	25.86M
Full Time Employees	3K	3.8K	3.48K	4.32K	4K
Part Time Employees	-	-	-	-	3
Accumulated Allowance for Doubtful Accounts (Supple)	21.78M	38.91M	29.39M	29.86M	27.89M

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	67.76M	213M	178M	181M	111M
Depreciation & Amortization - CF	19.9M	27.76M	38.29M	41.88M	44.44M
Amortization of Goodwill and Intangible Assets - (CF)	37.78M	54.86M	63.02M	69.51M	67.79M
Depreciation & Amortization, Total	57.69M	82.62M	101M	111M	112M
Amortization of Deferred Charges, Total - (CF)	33.01M	3.44M	4.55M	9.22M	8.24M
(Gain) Loss on Sale of Investments - (CF)	-	-	-6.66M	-32.45M	-9.41M
Asset Writedown & Restructuring Costs	-	120K	-1.65M	1.88M	10.86M
(Income) Loss On Equity Investments - (CF)	68K	-59K	-100K	-19K	-31K
Stock-Based Compensation (CF)	-	839K	1.37M	1.28M	1.8M
Other Operating Activities, Total	1.48M	83.52M	120M	184M	138M
Change In Accounts Receivable	-47.9M	27.19M	79.35M	-55.17M	30.99M
Change In Inventories	-101M	-65.75M	124M	-98.11M	66.04M
Change In Accounts Payable	80.4M	22.34M	-77.76M	22.71M	-46.01M
Change in Other Net Operating Assets	-1.23M	1.14M	3.01M	-2.34M	-2.03M
Cash from Operations	89.9M	369M	525M	323M	422M
Capital Expenditure	-18.29M	-18.44M	-15.48M	-13.88M	-8.06M
Cash Acquisitions	-634M	-554M	-585M	-241M	-152M
Sale (Purchase) of Intangible assets	-	-	-	-	-16.84M
Other Investing Activities, Total	-	-	-	-	-
Cash from Investing	-652M	-572M	-600M	-255M	-177M
Long-Term Debt Issued, Total	910M	641M	768M	1.28B	278M
Total Debt Issued	910M	641M	768M	1.28B	278M
Long-Term Debt Repaid, Total	-1.25B	-240M	-482M	-1.28B	-295M
Total Debt Repaid	-1.25B	-240M	-482M	-1.28B	-295M
Issuance of Common Stock	930M	-	200M	-	-
Repurchase of Common Stock	-	-3M	-3.41M	-2.51M	-1.14M
Common Dividends Paid	-	-7.01M	-67.77M	-53.31M	-54.91M
Common & Preferred Stock Dividends Paid	-	-7.01M	-67.77M	-53.31M	-54.91M
Other Financing Activities, Total	-67.22M	-49.4M	-110M	-197M	-187M
Cash from Financing	524M	341M	305M	-247M	-260M
Foreign Exchange Rate Adjustments	-477K	-546K	-1.12M	-2.4M	-20.63M
Miscellaneous Cash Flow Adjustments	-	-	-	-	-
Net Change in Cash	-38.93M	137M	229M	-182M	-36.03M
Supplemental Items
Cash Interest Paid	72.02M	41.18M	99.34M	122M	111M
Cash Income Tax Paid (Refund)	43.54M	90.33M	103M	61.11M	74.78M
Levered Free Cash Flow	50.78M	256M	358M	18.54M	243M
Unlevered Free Cash Flow	80.71M	279M	417M	81.94M	302M
Change In Net Working Capital	129M	34.86M	-83.16M	262M	-4.73M
Net Debt Issued / Repaid	-339M	400M	286M	6.27M	-16.93M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	4.06	5.52	4.65	4.29	3.65
Return on Total Capital	4.87	6.92	5.89	5.28	4.36
Return On Equity %	4.05	9.33	7.4	6.77	4.02
Return on Common Equity	3.94	9.24	7.14	6.61	3.99
Margin Analysis
Gross Profit Margin %	22.7	23	23.14	23.9	23.03
SG&A Margin	12.93	11.7	11.81	12.51	12.8
EBITDA Margin %	9.46	11.14	11.29	11.12	9.83
EBITA Margin %	9.3	10.96	10.98	10.88	9.58
EBIT Margin %	7.96	9.62	9.46	9.23	7.93
Income From Continuing Operations Margin %	2.48	5.33	4.56	4.5	2.76
Net Income Margin %	2.4	5.19	4.28	4.29	2.7
Net Avail. For Common Margin %	2.4	5.19	4.28	4.29	2.7
Normalized Net Income Margin	3.39	4.86	3.85	3.96	2.89
Levered Free Cash Flow Margin	1.8	6.23	8.61	0.44	5.92
Unlevered Free Cash Flow Margin	2.85	6.8	10.05	1.94	7.34
Asset Turnover
Asset Turnover	0.82	0.92	0.79	0.74	0.74
Fixed Assets Turnover	27.38	30.05	23.63	19.87	17.9
Receivables Turnover (Average Receivables)	9.51	10.04	9.35	8.95	8.78
Inventory Turnover (Average Inventory)	5.95	5.78	5.36	5.17	5
Short Term Liquidity
Current Ratio	1.54	1.48	1.7	1.93	1.95
Quick Ratio	0.85	0.84	1.1	1.1	1.12
Operating Cash Flow to Current Liabilities	0.13	0.38	0.56	0.39	0.59
Days Sales Outstanding (Average Receivables)	38.36	36.37	39.04	40.87	41.56
Days Outstanding Inventory (Average Inventory)	61.39	63.17	68.08	70.8	73.03
Average Days Payable Outstanding	46.34	45.64	52.35	50.73	54.92
Cash Conversion Cycle (Average Days)	53.42	53.9	54.77	60.95	59.67
Long Term Solvency
Total Debt/Equity	44.97	58.85	66.36	63.15	69
Total Debt / Total Capital	31.02	37.05	39.89	38.71	40.83
LT Debt/Equity	39.71	51.63	61.68	59.87	63.95
Long-Term Debt / Total Capital	27.39	32.5	37.08	36.7	37.84
Total Liabilities / Total Assets	43.46	50.98	51.97	49.33	49.77
EBIT / Interest Expense	4.23	9.97	3.91	3.43	3.26
EBITDA / Interest Expense	5.31	12.05	4.92	4.41	4.39
(EBITDA - Capex) / Interest Expense	4.97	11.59	4.76	4.29	4.3
Total Debt / EBITDA	3.58	3	3.6	3.68	4.28
Net Debt / EBITDA	3.08	2.44	2.61	3.08	3.68
Total Debt / (EBITDA - Capex)	3.83	3.12	3.71	3.79	4.36
Net Debt / (EBITDA - Capex)	3.29	2.54	2.7	3.16	3.75
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	27.19	45.34	1.05	1.49	-2.45
Gross Profit, 1 Yr. Growth %	33.83	47.26	1.66	4.83	-5.99
EBITDA, 1 Yr. Growth %	41.19	71.02	1.93	-0.06	-14.06
EBITA, 1 Yr. Growth %	41.39	71.24	0.76	0.64	-14.46
EBIT, 1 Yr. Growth %	47.33	75.61	-1.19	-0.91	-16.59
Earnings From Cont. Operations, 1 Yr. Growth %	-1.11	211.68	-13.51	0.08	-40.14
Net Income, 1 Yr. Growth %	-4.52	214.65	-16.65	1.68	-38.46
Normalized Net Income, 1 Yr. Growth %	81.03	108.55	-20.52	4.61	-29.2
Diluted EPS Before Extra, 1 Yr. Growth %	379.79	214.07	-18.68	0	-38.29
Accounts Receivable, 1 Yr. Growth %	71.72	18.02	0.36	11.58	-11.41
Inventory, 1 Yr. Growth %	74.57	34.28	-10.35	20.46	-13.24
Net Property, Plant and Equip., 1 Yr. Growth %	34.82	30.59	26.96	15.76	1.83
Total Assets, 1 Yr. Growth %	34.77	24.99	11.97	3.42	-6.18
Tangible Book Value, 1 Yr. Growth %	-39.03	65.91	21.78	-10.28	0.03
Common Equity, 1 Yr. Growth %	83.21	7.05	8.62	11.05	-6.31
Cash From Operations, 1 Yr. Growth %	-23.18	127.65	42.22	-38.5	30.57
Capital Expenditures, 1 Yr. Growth %	51.49	0.85	-16.04	-10.38	76.36
Levered Free Cash Flow, 1 Yr. Growth %	-50.38	403.98	38.95	-94.81	1.15K
Unlevered Free Cash Flow, 1 Yr. Growth %	-41.23	245.97	48.66	-80.36	263.76
Dividend Per Share, 1 Yr. Growth %	-	827.33	-20.92	4.55	-1.74
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	16.17	35.96	21.19	1.27	-0.5
Gross Profit, 2 Yr. CAGR %	21.54	40.39	22.36	3.24	-0.73
EBITDA, 2 Yr. CAGR %	30.13	55.39	32.35	0.93	-7.17
EBITA, 2 Yr. CAGR %	44.22	55.6	31.66	0.7	-7.06
EBIT, 2 Yr. CAGR %	33.46	60.85	32.08	-1.05	-8.9
Earnings From Cont. Operations, 2 Yr. CAGR %	20.98	75.56	64.19	-6.96	-22.6
Net Income, 2 Yr. CAGR %	18.84	73.33	61.95	-7.94	-20.9
Normalized Net Income, 2 Yr. CAGR %	65.79	94.31	29.17	-8.82	-13.69
Diluted EPS Before Extra, 2 Yr. CAGR %	169.14	288.18	59.81	-9.82	-21.45
Accounts Receivable, 2 Yr. CAGR %	37.42	42.36	8.83	5.82	-0.58
Inventory, 2 Yr. CAGR %	33.47	53.11	9.72	3.92	2.23
Net Property, Plant and Equip., 2 Yr. CAGR %	26.13	32.69	28.76	21.23	8.57
Total Assets, 2 Yr. CAGR %	17.58	29.78	18.3	7.61	-1.5
Tangible Book Value, 2 Yr. CAGR %	-22.64	0.57	42.14	4.53	-5.27
Common Equity, 2 Yr. CAGR %	34.37	40.04	7.83	9.83	2
Cash From Operations, 2 Yr. CAGR %	8.84	77.48	80.09	-6.48	-10.39
Capital Expenditures, 2 Yr. CAGR %	21.96	23.6	-7.98	-13.26	-27.83
Levered Free Cash Flow, 2 Yr. CAGR %	89.6	58.13	165.37	-73.15	-17.5
Unlevered Free Cash Flow, 2 Yr. CAGR %	25.5	42.59	127.37	-45.97	-14.97
Dividend Per Share, 2 Yr. CAGR %	-	-	170.8	-9.07	1.35
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	66.15	25.18	23.16	14.23	0.01
Gross Profit, 3 Yr. CAGR %	71.74	29.57	26.07	16.21	0.06
EBITDA, 3 Yr. CAGR %	166.98	42.54	35.23	20.52	-4.23
EBITA, 3 Yr. CAGR %	114.19	52.72	34.83	20.38	-4.52
EBIT, 3 Yr. CAGR %	103.4	46.24	36.98	20.01	-6.4
Earnings From Cont. Operations, 3 Yr. CAGR %	10.73	65.85	38.66	39.21	-19.68
Net Income, 3 Yr. CAGR %	9.51	64.41	35.8	38.67	-19.51
Normalized Net Income, 3 Yr. CAGR %	39.54	78.97	44.55	20.4	-16.03
Diluted EPS Before Extra, 3 Yr. CAGR %	82.08	183.35	130.54	36.69	-20.54
Accounts Receivable, 3 Yr. CAGR %	31.01	30.63	26.7	9.74	-0.27
Inventory, 3 Yr. CAGR %	22.24	33.74	28.09	13.19	-2.15
Net Property, Plant and Equip., 3 Yr. CAGR %	62.21	27.6	30.75	24.27	14.39
Total Assets, 3 Yr. CAGR %	14.77	20	23.55	13.11	2.8
Tangible Book Value, 3 Yr. CAGR %	-13.16	-0.24	7.2	21.93	3.01
Common Equity, 3 Yr. CAGR %	23.61	24.56	28.67	8.89	4.16
Cash From Operations, 3 Yr. CAGR %	-15.32	69.35	64.94	25.88	4.53
Capital Expenditures, 3 Yr. CAGR %	26.04	14.47	8.65	-8.79	-24.1
Levered Free Cash Flow, 3 Yr. CAGR %	-	162.63	51.74	-28.52	-1.85
Unlevered Free Cash Flow, 3 Yr. CAGR %	-	75.97	44.84	0.51	2.43
Dividend Per Share, 3 Yr. CAGR %	-	-	-	97.18	-6.69
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-	-	46.45	15	13.08
Gross Profit, 5 Yr. CAGR %	-	-	49.96	18.32	14.58
EBITDA, 5 Yr. CAGR %	-	-	101.64	24.27	16.34
EBITA, 5 Yr. CAGR %	-	-	76.31	29.4	16.19
EBIT, 5 Yr. CAGR %	-	-	71.14	25.22	16.36
Earnings From Cont. Operations, 5 Yr. CAGR %	-	-	29.63	31.61	9.82
Net Income, 5 Yr. CAGR %	-	-	28.06	30.37	9.4
Normalized Net Income, 5 Yr. CAGR %	-	-	35.29	36.84	17.61
Diluted EPS Before Extra, 5 Yr. CAGR %	-	-	72.82	79.24	49.87
Accounts Receivable, 5 Yr. CAGR %	-	-	21.64	20.07	14.99
Inventory, 5 Yr. CAGR %	-	-	17.07	20.9	17.04
Net Property, Plant and Equip., 5 Yr. CAGR %	-	-	47.9	25.01	21.38
Total Assets, 5 Yr. CAGR %	-	-	16.17	14.88	12.85
Tangible Book Value, 5 Yr. CAGR %	-	-	5.76	1.64	2.03
Common Equity, 5 Yr. CAGR %	-	-	17.04	18.44	17.25
Cash From Operations, 5 Yr. CAGR %	-	-	28.82	33.59	29.22
Capital Expenditures, 5 Yr. CAGR %	-	-	11.13	2.45	-7.75
Levered Free Cash Flow, 5 Yr. CAGR %	-	-	-	5.59	18.92
Unlevered Free Cash Flow, 5 Yr. CAGR %	-	-	-	9.84	17.04