Income Statement Croda International Plc

Equities

CRDA

GB00BJFFLV09

Specialty Chemicals

Market Closed - London S.E. Other stock markets 16:35:29 16/01/2025 GMT			5-day change	1st Jan Change
3,204.00 ^GBX	+0.79%		-3.64%	-5.35%

09:32am	UBS cuts JD Sports, Exane BNP raises Deliveroo	AN
01-10	Morgan Stanley Downgrades Croda International to Equalweight, Lowers PT	MT

2792.o_fUVsKrssze0ZfZ8eqvUICFTt3YNqk5KhpuKnCTILk.yKGHb6iY6q-Y5uf0sofWOri9ebaaZNhPcFJcaAXabu2TjpNht8Lw9Ifpxg

Published financial data: CRODA INTERNATIONAL PLC

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	1.38B	1.39B	1.89B	2.09B	1.69B
Total Revenues	1.38B	1.39B	1.89B	2.09B	1.69B
Cost of Goods Sold, Total	866M	758M	951M	1.1B	964M
Gross Profit	512M	632M	939M	986M	730M
Selling General & Admin Expenses, Total	192M	332M	500M	538M	477M
Other Operating Expenses, Total	192M	332M	500M	538M	477M
Operating Income	320M	300M	439M	447M	253M
Interest Expense, Total	-18.2M	-18.3M	-22.1M	-24.1M	-26M
Interest And Investment Income	900K	500K	1.5M	2.7M	9.4M
Net Interest Expenses	-17.3M	-17.8M	-20.6M	-21.4M	-16.6M
Other Non Operating Income (Expenses)	-	-1.5M	-2.5M	-	-
EBT, Excl. Unusual Items	303M	281M	416M	426M	236M
Merger & Related Restructuring Charges	-300K	-11.7M	-1.5M	-	-
Gain (Loss) On Sale Of Assets	-	-	-	356M	-
Other Unusual Items	-	-	-3.3M	-1.7M	-
EBT, Incl. Unusual Items	302M	270M	412M	780M	236M
Income Tax Expense	78.5M	67.9M	88.7M	127M	64.2M
Earnings From Continuing Operations	224M	202M	323M	653M	172M
Net Income to Company	224M	202M	323M	653M	172M
Minority Interest	100K	-	-2M	-4M	-1.1M
Net Income - (IS)	224M	202M	321M	649M	171M
Preferred Dividend and Other Adjustments	-	-	-	-	-
Net Income to Common Incl Extra Items	224M	202M	321M	649M	171M
Net Income to Common Excl. Extra Items	224M	202M	321M	649M	171M
Per Share Items
Net EPS - Basic	1.73	1.55	2.3	4.66	1.22
Basic EPS - Continuing Operations	1.73	1.55	2.3	4.66	1.22
Basic Weighted Average Shares Outstanding	130M	130M	140M	139M	140M
Net EPS - Diluted	1.72	1.55	2.3	4.65	1.22
Diluted EPS - Continuing Operations	1.72	1.55	2.3	4.65	1.22
Diluted Weighted Average Shares Outstanding	130M	130M	140M	140M	140M
Normalized Basic EPS	1.46	1.35	1.85	1.88	1.05
Normalized Diluted EPS	1.46	1.35	1.85	1.88	1.05
Dividend Per Share	0.9	0.91	1	1.08	1.09
Payout Ratio	51.54	57.49	41.3	22.24	88.13
American Depositary Receipts Ratio (ADR)	0.5	0.5	0.5	0.5	0.5
Supplemental Items
EBITDA	376M	370M	502M	516M	323M
EBITA	329M	314M	439M	447M	254M
EBIT	320M	300M	439M	447M	253M
EBITDAR	377M	371M	504M	517M	324M
Effective Tax Rate - (Ratio)	25.97	25.19	21.56	16.24	27.17
Current Domestic Taxes	15.1M	13.2M	11.5M	28.1M	-1.5M
Current Foreign Taxes	50.5M	52.1M	95M	100M	62.1M
Total Current Taxes	65.6M	65.3M	106M	128M	60.6M
Total Deferred Taxes	12.9M	2.6M	-17.8M	-1.4M	3.6M
Normalized Net Income	189M	176M	258M	262M	147M
Interest Capitalized	-	-	-	-	-
Interest on Long-Term Debt	16M	17.1M	19.9M	19.9M	22.8M
Non-Cash Pension Expense	18.2M	23.9M	13.5M	9.3M	3.9M
Supplemental Operating Expense Items
Selling and Marketing Expenses	65.9M	71.7M	93M	102M	77.2M
General and Administrative Expenses	126M	259M	406M	-	405M
Research And Development Expense From Footnotes	43.6M	46M	74.5M	81.8M	80.3M
Net Rental Expense, Total	1.5M	1M	1.4M	1M	1.2M
Imputed Operating Lease Interest Expense	388K	191K	269K	248K	376K
Imputed Operating Lease Depreciation	1.11M	809K	1.13M	752K	824K
Stock-Based Comp., Other (Total)	-5.2M	13.6M	41.3M	-11M	-4.2M
Total Stock-Based Compensation	-5.2M	13.6M	41.3M	-11M	-4.2M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	81.9M	106M	113M	321M	172M
Total Cash And Short Term Investments	81.9M	106M	113M	321M	172M
Accounts Receivable, Total	176M	238M	277M	315M	318M
Other Receivables	31.9M	41.6M	45.9M	47.1M	65.8M
Total Receivables	208M	280M	323M	362M	384M
Inventory	269M	303M	443M	464M	341M
Prepaid Expenses	9M	9.8M	14.6M	14.1M	11.9M
Total Current Assets	568M	699M	894M	1.16B	909M
Gross Property Plant And Equipment	1.36B	1.56B	1.7B	1.56B	1.68B
Accumulated Depreciation	-513M	-577M	-624M	-500M	-544M
Net Property Plant And Equipment	851M	981M	1.08B	1.06B	1.13B
Long-term Investments	4.7M	5.2M	3.3M	3.4M	1.9M
Goodwill	348M	867M	852M	845M	938M
Other Intangibles, Total	96.8M	445M	420M	409M	471M
Deferred Tax Assets Long-Term	11.8M	14.5M	13.5M	10.3M	14.4M
Other Long-Term Assets, Total	10.2M	17.6M	35.3M	123M	114M
Total Assets	1.89B	3.03B	3.29B	3.61B	3.58B
Liabilities
Accounts Payable, Total	63.8M	97.8M	133M	121M	126M
Accrued Expenses, Total	62.8M	83.8M	132M	131M	80.9M
Short-term Borrowings	18.8M	28.7M	18.5M	39M	22.3M
Current Portion of Long-Term Debt	90.7M	20.4M	32.4M	82.9M	14.4M
Current Portion of Leases	7.8M	10.7M	12.2M	12.9M	13.7M
Current Income Taxes Payable	52.3M	48.7M	49M	43.8M	21.4M
Other Current Liabilities	40.2M	55.3M	82.1M	56.9M	41.7M
Total Current Liabilities	336M	345M	460M	488M	320M
Long-Term Debt	477M	776M	795M	402M	588M
Long-Term Leases	35.7M	71M	78.3M	79.2M	71.3M
Pension & Other Post Retirement Benefits	85.2M	49.9M	27.4M	23.1M	26.8M
Deferred Tax Liability Non Current	82.4M	160M	151M	173M	193M
Other Non Current Liabilities	6.1M	31M	15.9M	16M	11.6M
Total Liabilities	1.02B	1.43B	1.53B	1.18B	1.21B
Preferred Stock Non Redeemable	1.1M	1.1M	1.1M	-	-
Total Preferred Equity	1.1M	1.1M	1.1M	-	-
Common Stock, Total	14M	15.1M	15.1M	15.1M	15.1M
Additional Paid In Capital	93.3M	708M	708M	708M	708M
Retained Earnings	719M	843M	1.07B	1.65B	1.64B
Comprehensive Income and Other	34.4M	19.3M	-43.8M	47.1M	-10.3M
Total Common Equity	860M	1.58B	1.75B	2.42B	2.35B
Minority Interest	7M	9.3M	12.8M	15.5M	15.6M
Total Equity	869M	1.6B	1.77B	2.43B	2.37B
Total Liabilities And Equity	1.89B	3.03B	3.29B	3.61B	3.58B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	129M	140M	140M	140M	140M
ECS Total Common Shares Outstanding	129M	140M	140M	140M	140M
Book Value / Share	6.68	11.36	12.56	17.3	16.85
Tangible Book Value	415M	273M	480M	1.16B	944M
Tangible Book Value Per Share	3.22	1.96	3.44	8.32	6.76
Total Debt	630M	907M	936M	616M	710M
Net Debt	548M	800M	823M	295M	538M
Debt Equivalent of Unfunded Proj. Benefit Obligation	60.9M	17.2M	-21.4M	-111M	-99.8M
Debt Equivalent Oper. Leases	12M	8M	11.2M	8M	9.6M
Minority Interest, Total (Incl. Fin. Div)	7M	9.3M	12.8M	15.5M	15.6M
Equity Method Investments, Total	2.8M	1.8M	-	-	-
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Raw Materials, Total	56.7M	63.9M	122M	136M	98.3M
Inventories - Work In Process, Total	43.3M	39.8M	56M	45.8M	35.6M
Inventories - Finished Goods, Total	169M	199M	265M	282M	207M
Land - (BS)	199M	257M	297M	305M	320M
Machinery, Total	1.11B	1.2B	1.28B	1.12B	1.22B
Full Time Employees	4.58K	5.68K	6.14K	5.82K	5.85K
Accumulated Allowance for Doubtful Accounts (Supple)	2.2M	2.5M	2.9M	5.8M	6.8M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	224M	202M	321M	649M	171M
Depreciation & Amortization - CF	55.6M	66.1M	76.3M	83.4M	85.2M
Amortization of Goodwill and Intangible Assets - (CF)	8.9M	13.7M	0	300K	700K
Depreciation & Amortization, Total	64.5M	79.8M	76.3M	83.7M	85.9M
Amortization of Deferred Charges, Total - (CF)	1.9M	2M	2.7M	2.7M	3.6M
(Gain) Loss From Sale Of Asset	-3.8M	-	5.8M	200K	200K
(Gain) Loss on Sale of Investments - (CF)	-	-	-	-	1.5M
Asset Writedown & Restructuring Costs	1.4M	1.4M	1.1M	42.2M	22M
(Income) Loss On Equity Investments - (CF)	800K	1.1M	700K	-	-
Stock-Based Compensation (CF)	-5.2M	4.1M	29.1M	-11M	-4.2M
Other Operating Activities, Total	18.8M	4.3M	13.7M	-325M	28.4M
Change In Accounts Receivable	8.3M	-15.6M	-53.2M	-43.3M	-19M
Change In Inventories	12.2M	-7M	-141M	-98.1M	118M
Change In Accounts Payable	-18.9M	15.3M	91.6M	7.6M	-69.7M
Cash from Operations	304M	287M	348M	308M	338M
Capital Expenditure	-105M	-115M	-153M	-141M	-180M
Sale of Property, Plant, and Equipment	4.2M	200K	200K	1.7M	4M
Cash Acquisitions	-3.7M	-868M	-58.1M	-	-204M
Divestitures	-	-	-	584M	-
Sale (Purchase) of Intangible assets	-5.8M	-6.2M	-5.7M	-11.2M	-8.6M
Investment in Marketable and Equity Securities, Total	-1.3M	-1.5M	-	-	-
Other Investing Activities, Total	-200K	-1.2M	400K	-8.3M	-20.5M
Cash from Investing	-112M	-992M	-216M	425M	-410M
Long-Term Debt Issued, Total	752M	439M	320M	233M	336M
Total Debt Issued	752M	439M	320M	233M	336M
Long-Term Debt Repaid, Total	-646M	-209M	-297M	-632M	-228M
Total Debt Repaid	-646M	-209M	-297M	-632M	-228M
Issuance of Common Stock	-	616M	-	-	-
Repurchase of Common Stock	-4.3M	-6.9M	-2.4M	-7.3M	-9.8M
Common Dividends Paid	-115M	-116M	-132M	-144M	-151M
Preferred Dividends Paid	-100K	-100K	-100K	-	-
Common & Preferred Stock Dividends Paid	-115M	-116M	-132M	-144M	-151M
Special Dividend Paid	-152M	-	-	-	-
Other Financing Activities, Total	-	-	-900K	-1.4M	-
Cash from Financing	-165M	722M	-113M	-552M	-52.4M
Foreign Exchange Rate Adjustments	-4.5M	-2.8M	-2.4M	6.8M	-6.7M
Net Change in Cash	22.8M	14.7M	16.5M	187M	-131M
Supplemental Items
Cash Interest Paid	17M	17.5M	19.8M	23.2M	24.2M
Cash Income Tax Paid (Refund)	68.3M	70.7M	112M	131M	69.3M
Levered Free Cash Flow	151M	110M	145M	84.68M	57.81M
Unlevered Free Cash Flow	162M	122M	159M	99.74M	74.06M
Change In Net Working Capital	-11.8M	40.3M	77.2M	103M	-19.7M
Net Debt Issued / Repaid	107M	230M	23.2M	-399M	108M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	10.51	7.63	8.69	8.09	4.4
Return on Total Capital	13.36	9.39	10.55	9.72	5.16
Return On Equity %	23.98	16.37	19.21	31.13	7.17
Return on Common Equity	24.21	16.49	19.23	31.16	7.17
Margin Analysis
Gross Profit Margin %	37.18	45.46	49.69	47.17	43.08
SG&A Margin	13.96	23.85	26.43	25.77	28.16
EBITDA Margin %	27.26	26.59	26.59	24.7	19.08
EBITA Margin %	23.87	22.6	23.25	21.41	14.97
EBIT Margin %	23.22	21.61	23.25	21.4	14.92
Income From Continuing Operations Margin %	16.24	14.5	17.08	31.27	10.16
Net Income Margin %	16.25	14.5	16.98	31.08	10.09
Net Avail. For Common Margin %	16.25	14.5	16.98	31.08	10.09
Normalized Net Income Margin	13.73	12.64	13.66	12.54	8.65
Levered Free Cash Flow Margin	10.93	7.93	7.68	4.05	3.41
Unlevered Free Cash Flow Margin	11.75	8.75	8.42	4.77	4.37
Asset Turnover
Asset Turnover	0.72	0.57	0.6	0.61	0.47
Fixed Assets Turnover	1.69	1.52	1.84	1.95	1.55
Receivables Turnover (Average Receivables)	7.43	6.71	7.33	7.06	5.36
Inventory Turnover (Average Inventory)	3.11	2.65	2.55	2.43	2.4
Short Term Liquidity
Current Ratio	1.69	2.02	1.94	2.38	2.84
Quick Ratio	0.86	1.12	0.95	1.4	1.74
Operating Cash Flow to Current Liabilities	0.9	0.83	0.76	0.63	1.05
Days Sales Outstanding (Average Receivables)	49.11	54.55	49.83	51.71	68.13
Days Outstanding Inventory (Average Inventory)	117.26	137.94	143.13	149.97	152.36
Average Days Payable Outstanding	28.43	37.34	38.64	41.23	53.49
Cash Conversion Cycle (Average Days)	137.93	155.14	154.32	160.45	167
Long Term Solvency
Total Debt/Equity	72.48	56.86	53	25.33	29.99
Total Debt / Total Capital	42.02	36.25	34.64	20.21	23.07
LT Debt/Equity	58.98	53.11	49.43	19.79	27.86
Long-Term Debt / Total Capital	34.19	33.86	32.31	15.79	21.43
Total Liabilities / Total Assets	54.07	47.34	46.38	32.69	33.84
EBIT / Interest Expense	17.58	16.42	19.88	18.55	9.73
EBITDA / Interest Expense	21.12	20.78	23.33	22.02	13.03
(EBITDA - Capex) / Interest Expense	15.34	14.5	16.41	16.17	6.09
Total Debt / EBITDA	1.64	2.38	1.82	1.16	2.1
Net Debt / EBITDA	1.42	2.1	1.6	0.56	1.59
Total Debt / (EBITDA - Capex)	2.26	3.42	2.58	1.58	4.48