Cash flow Carmila

Equities

CARM

FR0010828137

Commercial REITs

Real-time Euronext Paris Other stock markets 08:11:34 14/05/2026 BST			5-day change	1st Jan Change
16.48 ^EUR	+1.23%		-3.18%	-3.18%

05-06	JCDecaux lifted by digital growth in Q1, caution maintained for Q2
05-05	It's kicking off, but they're still talking

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Published financial data: CARMILA

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Rental Revenues	350M	352M	357M	369M	404M
Property Management Fee	10.27M	11.5M	11.7M	12.54M	14.75M
Other Revenues, Total	76.43M	80.76M	93.75M	97.18M	107M
Total Revenues	436M	444M	462M	478M	525M
Property Expenses	159M	140M	111M	120M	136M
Selling General & Admin Expenses, Total	35.53M	37.96M	41.1M	44.13M	49.49M
Depreciation & Amortization - (IS) - (Collected)	2.85M	1.24M	2.19M	-2.38M	2.99M
Other Operating Expenses	28.06M	26.43M	14.9M	24.79M	28.36M
Total Operating Expenses	225M	205M	169M	186M	217M
Operating Income (REIT / Utility Template)	211M	239M	294M	292M	308M
Interest Expense, Total	-57.71M	-62.98M	-66.26M	-93.97M	-121M
Interest and Investment Income	1.12M	1.05M	2.05M	27.53M	39.58M
Net Interest Expenses	-56.59M	-61.93M	-64.2M	-66.44M	-81.13M
Other Non Operating Income (Expenses)	-19.03M	-6.19M	-11.5M	-9.21M	-4.5M
EBT, Excl. Unusual Items	136M	171M	218M	216M	223M
Total Merger & Related Restructuring Charges	-	-	-	-	-5.2M
Impairment of Goodwill	-	-	-	-	-
Gain (Loss) on Sale of Investments	-	-	-	-	-10.5M
Gain (Loss) on Sale of Assets	-65K	38K	-2.71M	-164K	-3.29M
Asset Writedown	-334M	-4.67M	6.88M	-207M	-35.17M
Other Unusual Items	-	-5.58M	-	-	147M
EBT, Incl. Unusual Items	-198M	161M	222M	9.46M	316M
Income Tax Expense	-196K	-31.83M	2.46M	6.73M	1.61M
Earnings From Continuing Operations	-198M	192M	220M	2.72M	314M
Net Income to Company	-198M	192M	220M	2.72M	314M
Minority Interest	-469K	-215K	-344K	53K	-310K
Net Income - (IS)	-199M	192M	219M	2.78M	314M
Net Income to Common Incl Extra Items	-199M	192M	219M	2.78M	314M
Net Income to Common Excl. Extra Items	-199M	192M	219M	2.78M	314M
Per Share Items
Net EPS - Basic	-1.42	1.33	1.52	0.02	2.21
Basic EPS - Continuing Operations	-1.42	1.33	1.52	0.02	2.21
Basic Weighted Average Shares Outstanding	140M	144M	144M	143M	142M
Net EPS - Diluted	-1.42	1.33	1.52	0.02	2.21
Diluted EPS - Continuing Operations	-1.42	1.33	1.52	0.02	2.21
Diluted Weighted Average Shares Outstanding	140M	145M	144M	143M	142M
Normalized Basic EPS	0.6	0.74	0.94	0.95	0.98
Normalized Diluted EPS	0.6	0.74	0.94	0.95	0.98
Dividend Per Share	1	1	1.17	1.2	1.25
Payout Ratio	-36.61	49.16	65.45	6K	54.39
Supplemental Items
EBITDA	212M	239M	294M	292M	311M
EBITA	212M	239M	294M	292M	310M
EBIT	211M	239M	294M	292M	308M
Total Revenues (As Reported)	429M	429M	446M	462M	507M
Effective Tax Rate - (Ratio)	0.1	-19.83	1.11	71.18	0.51
Total Current Taxes	-204K	4.78M	878K	6.97M	-1.76M
Total Deferred Taxes	8K	-36.61M	1.58M	-237K	3.37M
Normalized Net Income	84.44M	106M	136M	135M	139M
Interest Capitalized	1.13M	491K	-	-	-
Interest on Long-Term Debt	38.2M	45.08M	46.49M	46.04M	59.57M
Non-Cash Pension Expense	94K	-	-	-	-

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Gross Property Plant And Equipment	5.83B	5.89B	5.82B	5.56B	6.28B
Accumulated Depreciation	-5.15M	-6.56M	-4.4M	-5.23M	-9.04M
Net Property Plant And Equipment	5.82B	5.88B	5.82B	5.55B	6.27B
Total Real Estate Assets	5.82B	5.88B	5.82B	5.55B	6.27B
Cash And Equivalents	320M	238M	357M	860M	154M
Accounts Receivable, Total	149M	75.49M	102M	107M	106M
Other Receivables	74.82M	90.51M	69.05M	63.75M	73.21M
Investment In Debt and Equity Securities	1.24M	7.28M	5.03M	5.93M	7.86M
Other Intangibles, Total	4.58M	4.66M	3.64M	1.94M	1.99M
Other Current Assets, Total	11.29M	-274K	9.45M	14.5M	11.11M
Deferred Tax Assets Long-Term (Collected)	11.11M	9.86M	9.85M	6.11M	5.86M
Other Long-Term Assets, Total	59.75M	62.76M	141M	120M	113M
Total Assets	6.45B	6.37B	6.51B	6.73B	6.74B
Liabilities
Current Portion of Long-Term Debt	18.89M	26.09M	24.2M	573M	33.05M
Current Portion of Leases	1.36M	1.98M	1.52M	1.32M	2.27M
Short-Term Borrowings	234M	200M	50.02M	13K	42.02M
Long-Term Debt	2.37B	2.35B	2.5B	2.44B	2.64B
Long-Term Leases	34.44M	33.74M	34.04M	44.11M	42.4M
Accounts Payable, Total	27.77M	20.98M	19.72M	19.4M	38.58M
Accrued Expenses, Total	54.39M	53.41M	46M	48.88M	51.88M
Current Income Taxes Payable	1.61M	770K	1.05M	855K	326K
Unearned Revenue, Current	66.55M	36.17M	76.36M	79.81M	77.19M
Other Current Liabilities - (Brok / FS / Ins. / REIT Template)	117M	40.34M	22.03M	10.62M	38.07M
Pension & Other Post Retirement Benefits	771K	474K	378K	759K	1.31M
Deferred Tax Liability Non-Current	177M	139M	141M	137M	261M
Other Non Current Liabilities	82.24M	86.21M	88.93M	84.64M	98.11M
Total Liabilities	3.18B	2.99B	3.01B	3.44B	3.32B
Common Stock, Total	856M	875M	863M	855M	850M
Additional Paid In Capital	2.04B	1.99B	1.83B	1.65B	1.5B
Retained Earnings	-199M	544M	765M	769M	1.05B
Treasury Stock	-2.54M	-2.35M	-2.7M	-3.16M	-5.48M
Comprehensive Income and Other	569M	-28.47M	50.96M	20.18M	17.84M
Total Common Equity	3.26B	3.37B	3.5B	3.29B	3.41B
Minority Interest	5.73M	5.78M	5.78M	5.44M	5.45M
Total Equity	3.27B	3.38B	3.51B	3.29B	3.42B
Total Liabilities And Equity	6.45B	6.37B	6.51B	6.73B	6.74B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	142M	145M	144M	142M	141M
ECS Total Common Shares Outstanding	142M	145M	144M	142M	141M
Book Value / Share	22.95	23.2	24.37	23.12	24.17
Tangible Book Value	3.26B	3.37B	3.5B	3.29B	3.41B
Tangible Book Value Per Share	22.92	23.17	24.35	23.1	24.15
Total Debt	2.66B	2.61B	2.61B	3.06B	2.76B
Net Debt	2.34B	2.37B	2.25B	2.19B	2.6B
Debt Equivalent of Unfunded Proj. Benefit Obligation	-	-	-	-	-
Minority Interest, Total (Incl. Fin. Div)	5.73M	5.78M	5.78M	5.44M	5.45M
Equity Method Investments, Total	48.06M	50.31M	75.55M	77.23M	77.82M
Account Code - Inventory Valuation	3	3	3	3	3
Machinery, Total	5.04M	5.27M	879K	660K	2.56M
Full Time Employees	194	229	273	274	260
Accumulated Allowance for Doubtful Accounts (Supple)	54.52M	85.85M	63.92M	61.25M	72.86M

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	-199M	192M	219M	2.78M	314M
Depreciation, Depletion & Amortization	475K	1.44M	865K	1.52M	2.79M
Amortization of Goodwill and Intangible Assets - (CF)	632K	-101K	77K	226K	1.28M
Total Depreciation, Depletion & Amortization	1.11M	1.34M	942K	1.75M	4.07M
Amortization of Deferred Charges, Total	-108K	160K	11.08M	8.33M	9.01M
(Gain) Loss On Sale of Asset - (CF)	66K	-33K	3.6M	-859K	3.08M
Total Asset Writedown	337M	9.72M	790K	207M	41.82M
(Income) Loss On Equity Investments - (CF)	3.19M	-3.07M	-4.95M	-3.74M	-3.65M
Change in Other Net Operating Assets (Collected)	-36.11M	21.86M	22.77M	-5.84M	12.24M
Other Operating Activities	61.21M	35.75M	68.8M	66.19M	-84.13M
Cash from Operations	168M	258M	322M	276M	296M
Acquisition of Real Estate Assets, Total	-80.91M	-64.58M	-88.76M	-60.45M	-84.68M
Sale of Real Estate Assets, Total	307K	8.22M	146M	128M	11.53M
Net Sale / Acquisition of Real Estate Assets	-80.6M	-56.37M	57.27M	67.86M	-73.15M
Cash Acquisitions	-	-	-	-	-172M
Net (Increase) Decrease in Loans Originated / Sold - Investing	-183K	-4.13M	-1.78M	1.75M	-
Other Investing Activities, Total	6.19M	-84.96M	-23.82M	-12.94M	16.39M
Cash from Investing	-74.6M	-145M	31.68M	56.67M	-229M
Long-Term Debt Issued, Total	968M	300M	380M	794M	441M
Total Debt Issued	968M	300M	380M	794M	441M
Long-Term Debt Repaid, Total	-798M	-325M	-380M	-372M	-943M
Total Debt Repaid	-798M	-325M	-380M	-372M	-943M
Issuance of Common Stock	135K	190K	-	-	-
Repurchase of Common Stock	-	-	-29.84M	-20.47M	-2.23M
Common Dividends Paid	-72.77M	-94.45M	-144M	-167M	-171M
Common & Preferred Stock Dividends Paid	-72.77M	-94.45M	-144M	-167M	-171M
Other Financing Activities, Total	-53.53M	-66.45M	-62.5M	-63.91M	-97.57M
Cash from Financing	43.83M	-186M	-236M	171M	-773M
Miscellaneous Cash Flow Adjustments	-	-	-	2K	-
Net Change in Cash	137M	-73.14M	119M	503M	-706M
Supplemental Items
Cash Interest Paid	53.99M	59.6M	64.32M	82.94M	121M
Cash Income Tax Paid (Refund)	4.72M	2.17M	-3.2M	5.39M	-808K
Net Debt Issued / Repaid	170M	-24.83M	374K	422M	-502M
Levered Free Cash Flow	69.4M	64.61M	153M	124M	171M
Unlevered Free Cash Flow	105M	104M	184M	174M	238M
Change In Net Working Capital	26.75M	46.8M	976K	10.24M	-40.98M

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	2.04	2.33	2.85	2.76	2.86
Return on Total Capital	2.22	2.51	3.03	2.93	3.08
Return On Equity %	-5.82	5.79	6.38	0.08	9.36
Return on Common Equity	-5.84	5.79	6.38	0.08	9.37
Margin Analysis
Gross Profit Margin %	63.68	68.57	76.09	74.99	74.06
SG&A Margin	14.08	15	15.39	16.09	16.5
EBITDA Margin %	48.51	53.85	63.55	61.15	59.15
EBITA Margin %	48.6	53.76	63.52	61.12	58.92
EBIT Margin %	48.45	53.79	63.51	61.08	58.67
Income From Continuing Operations Margin %	-45.43	43.31	47.5	0.57	59.8
Net Income Margin %	-45.54	43.27	47.43	0.58	59.74
Net Avail. For Common Margin %	-45.54	43.27	47.43	0.58	59.74
Normalized Net Income Margin	19.35	23.98	29.38	28.3	26.42
Levered Free Cash Flow Margin	15.9	14.55	33.12	25.86	32.6
Unlevered Free Cash Flow Margin	24.17	23.42	39.69	36.47	45.22
Asset Turnover
Asset Turnover	0.07	0.07	0.07	0.07	0.08
Fixed Assets Turnover	0.07	0.08	0.08	0.08	0.09
Receivables Turnover (Average Receivables)	2.71	3.24	4.16	3.66	3.94
Short Term Liquidity
Current Ratio	1.06	1.06	2.23	1.42	1.22
Quick Ratio	1.04	1.06	2.19	1.4	1.18
Operating Cash Flow to Current Liabilities	0.32	0.68	1.34	0.38	1.05
Days Sales Outstanding (Average Receivables)	135.03	112.54	87.71	99.73	92.9
Average Days Payable Outstanding	65.37	63.76	67.19	59.68	77.88
Long Term Solvency
Total Debt/Equity	81.25	77.29	74.42	92.77	80.62
Total Debt / Total Capital	44.83	43.6	42.67	48.12	44.64
LT Debt/Equity	73.47	70.55	72.26	75.32	78.36
Long-Term Debt / Total Capital	40.54	39.79	41.43	39.08	43.38
Total Liabilities / Total Assets	49.34	46.94	46.15	51.07	49.29
EBIT / Interest Expense	3.66	3.79	4.43	3.11	2.55
EBITDA / Interest Expense	3.68	3.81	4.45	3.13	2.59
(EBITDA - Capex) / Interest Expense	3.67	3.81	4.45	3.13	2.59
Total Debt / EBITDA	12.49	10.88	8.86	10.4	8.83
Net Debt / EBITDA	10.99	9.89	7.65	7.47	8.33
Total Debt / (EBITDA - Capex)	12.55	10.88	8.86	10.4	8.83
Net Debt / (EBITDA - Capex)	11.04	9.89	7.65	7.47	8.33
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-3.8	1.74	4.14	3.44	9.83
Gross Profit, 1 Yr. Growth %	-20.15	9.56	15.56	1.94	8.48
EBITDA, 1 Yr. Growth %	-25.55	12.04	22.28	-0.73	4.27
EBITA, 1 Yr. Growth %	-24.94	12.9	22.98	-0.44	5.95
EBIT, 1 Yr. Growth %	-25.16	12.94	22.95	-0.52	5.51
Earnings From Cont. Operations, 1 Yr. Growth %	-282.91	-197	14.21	-98.76	11.43K
Net Income, 1 Yr. Growth %	-283.67	-196.66	14.16	-98.73	11.2K
Diluted EPS Before Extra, 1 Yr. Growth %	-279.45	-193.82	14.29	-98.72	11.26K
Normalized Net Income, 1 Yr. Growth %	-39.05	26.11	31.93	-0.38	2.55
Net Property, Plant and Equip., 1 Yr. Growth %	-4.19	1.08	-1.13	-4.55	12.92
Accounts Receivable, 1 Yr. Growth %	26.84	-49.18	34.71	4.83	-0.54
Total Assets, 1 Yr. Growth %	-1.04	-1.25	2.23	3.33	0.18
Common Equity, 1 Yr. Growth %	-7.84	3.44	3.76	-6.11	3.83
Tangible Book Value, 1 Yr. Growth %	-7.86	3.44	3.79	-6.07	3.83
Cash From Operations, 1 Yr. Growth %	-40.32	53.43	25.01	-14.36	7.33
Capital Expenditures, 1 Yr. Growth %	413.51	-	-	-	-
Levered Free Cash Flow, 1 Yr. Growth %	-63.16	-9.37	103.39	-19.24	34.36
Unlevered Free Cash Flow, 1 Yr. Growth %	-52.94	-3.15	76.54	-4.96	33.29
Dividend Per Share, 1 Yr. Growth %	0	0	17	2.56	4.17
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	1.51	-1.07	2.93	3.79	6.59
Gross Profit, 2 Yr. CAGR %	-7.12	-6.47	12.52	8.53	5.16
EBITDA, 2 Yr. CAGR %	-10.71	-8.31	17.35	10.32	2.69
EBITA, 2 Yr. CAGR %	-10.23	-8.08	17.86	10.64	2.66
EBIT, 2 Yr. CAGR %	-10.36	-8.06	17.84	10.6	2.45
Earnings From Cont. Operations, 2 Yr. CAGR %	10.09	33.2	5.25	-88.1	19.59
Net Income, 2 Yr. CAGR %	10.24	33.24	5.05	-87.98	19.62
Diluted EPS Before Extra, 2 Yr. CAGR %	8.69	29.75	3.55	-87.91	20.58
Normalized Net Income, 2 Yr. CAGR %	-19.33	-12.33	26.86	14.64	1.07
Net Property, Plant and Equip., 2 Yr. CAGR %	-1.66	-1.59	-0.03	-2.86	3.82
Accounts Receivable, 2 Yr. CAGR %	9.62	-19.71	-17.26	18.83	2.11
Total Assets, 2 Yr. CAGR %	-0.4	-1.14	0.48	2.78	1.74
Common Equity, 2 Yr. CAGR %	-5.41	-2.37	3.6	-1.3	-1.26
Tangible Book Value, 2 Yr. CAGR %	-5.42	-2.38	3.62	-1.26	-1.24
Cash From Operations, 2 Yr. CAGR %	-16.68	-4.31	38.49	3.47	-4.13
Capital Expenditures, 2 Yr. CAGR %	37.57	-	-	-	-
Levered Free Cash Flow, 2 Yr. CAGR %	-21.75	-41.44	46.58	28.16	5.74
Unlevered Free Cash Flow, 2 Yr. CAGR %	-12.92	-31.89	30.76	29.53	13.76
Dividend Per Share, 2 Yr. CAGR %	-18.35	0	8.17	9.54	3.36
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	11.27	1.59	0.64	3.1	5.76
Gross Profit, 3 Yr. CAGR %	-1.69	-1.86	0.36	8.88	8.52
EBITDA, 3 Yr. CAGR %	-3.18	-3.44	1.1	11.08	8.94
EBITA, 3 Yr. CAGR %	-2.99	-3.2	1.3	11.4	9.02
EBIT, 3 Yr. CAGR %	-3.09	-3.18	1.29	11.37	8.87
Earnings From Cont. Operations, 3 Yr. CAGR %	-14.23	5.54	26.54	-76.05	17.77
Net Income, 3 Yr. CAGR %	-14.12	5.51	26.55	-75.91	17.77
Diluted EPS Before Extra, 3 Yr. CAGR %	-18.62	3.49	24.38	-76.06	18.44
Normalized Net Income, 3 Yr. CAGR %	-9.06	-6.37	-0.64	17.04	10.46
Net Property, Plant and Equip., 3 Yr. CAGR %	2.22	-0.76	-1.44	-1.56	2.14
Accounts Receivable, 3 Yr. CAGR %	11.23	-15.16	-4.6	-10.47	11.99
Total Assets, 3 Yr. CAGR %	2.25	-0.68	-0.03	1.42	1.9
Common Equity, 3 Yr. CAGR %	-2.65	-2.55	-0.37	0.26	0.38
Tangible Book Value, 3 Yr. CAGR %	-2.65	-2.56	-0.36	0.28	0.41
Cash From Operations, 3 Yr. CAGR %	-13.97	2.12	4.61	17.99	4.74
Capital Expenditures, 3 Yr. CAGR %	49.91	-	-	-	-
Levered Free Cash Flow, 3 Yr. CAGR %	-29.17	-17.09	-6.67	20.16	31.5
Unlevered Free Cash Flow, 3 Yr. CAGR %	-21.54	-9.24	-6.44	17.56	31.71
Dividend Per Share, 3 Yr. CAGR %	-12.64	-12.64	5.37	6.27	7.72
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	9.97	9.4	7.86	2.46	2.98
Gross Profit, 5 Yr. CAGR %	1.74	3.19	3.76	2.17	2.25
EBITDA, 5 Yr. CAGR %	-0.86	1.78	4.73	1.95	1.79
EBITA, 5 Yr. CAGR %	-0.65	1.82	4.8	2.13	1.84
EBIT, 5 Yr. CAGR %	-0.71	1.83	4.8	2.11	1.75
Earnings From Cont. Operations, 5 Yr. CAGR %	-9.42	-8.24	-6.91	-55.91	23.71
Net Income, 5 Yr. CAGR %	-9.35	-8.19	-6.91	-55.74	23.73
Diluted EPS Before Extra, 5 Yr. CAGR %	5.82	-14.14	-10.39	-56.15	22.84
Normalized Net Income, 5 Yr. CAGR %	-5.33	0.69	3.89	0.85	0.04
Net Property, Plant and Equip., 5 Yr. CAGR %	6.35	3.93	1.31	-1.6	0.63
Accounts Receivable, 5 Yr. CAGR %	9.61	-5.12	-1.18	-2.92	-1.97
Total Assets, 5 Yr. CAGR %	6.84	4.13	1.54	0.69	0.67
Common Equity, 5 Yr. CAGR %	6.2	5.01	-0.2	-2.05	-0.73
Tangible Book Value, 5 Yr. CAGR %	6.22	5.02	-0.19	-2.04	-0.71
Cash From Operations, 5 Yr. CAGR %	-4.73	7.73	4.08	2.66	1.02
Capital Expenditures, 5 Yr. CAGR %	31.67	-	-	-	-
Levered Free Cash Flow, 5 Yr. CAGR %	-10.94	4.19	-4.74	1.76	-1.89
Unlevered Free Cash Flow, 5 Yr. CAGR %	-6.65	5.86	-3.42	4.64	1.17
Dividend Per Share, 5 Yr. CAGR %	-	37.97	-4.85	-4.36	4.56