Cash flow ERG S.p.A.

Equities

ERG

IT0001157020

Independent Power Producers

Real-time Borsa Italiana Other stock markets 11:34:24 19/09/2024 BST			5-day change	1st Jan Change
24.52 ^EUR	-0.49%		-1.53%	-15.04%

09-12	Lists expected to rise on ECB day	AN
09-11	Mib down slightly, traders waiting for ECB	AN

d69f15510df5739bbdb2d.NNuzgGV_-scaXsY1F2oShJLIVrq7HbkMfFC_dnnC2wQ.VYvZ7y44zrRRaqFfWTxk7OWrIor5Qt1UDhX9RgChnW1ug_XkPQvLo09ogw

Published financial data: ERG S.P.A.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues - (Utility Template)	1.02B	974M	1.04B	714M	741M
Other Revenues, Total	2.71M	3.9M	5.26M	-	-
Total Revenues	1.02B	978M	1.04B	714M	741M
Operations And Maintenance	34.02M	38.87M	40.5M	39.85M	45.57M
Selling General & Admin Expenses, Total	26.52M	25.73M	532K	477K	446K
Depreciation & Amortization - (IS) - (Collected)	305M	234M	187M	177M	157M
Amortization of Goodwill and Intangible Assets - (IS)	-	71.13M	50.41M	58.74M	67.78M
Provision for Bad Debts	-	-	8.42M	300K	-
Other Operating Expenses	462M	436M	555M	179M	170M
Total Operating Expenses	828M	805M	842M	455M	440M
Operating Income (REIT / Utility Template)	196M	172M	202M	259M	300M
Interest Expense, Total	-42.32M	-39.21M	-34.44M	-37.66M	-48.03M
Interest and Investment Income	1.97M	2.65M	3.32M	2.02M	18.49M
Net Interest Expenses	-40.35M	-36.56M	-31.12M	-35.64M	-29.54M
Income (Loss) on Equity Invest.	-546K	344K	659K	2.29M	5.39M
Currency Exchange Gains (Loss)	-25K	-142K	246K	47K	-18K
Other Non Operating Income (Expenses)	-79.51M	-5.22M	-1.04M	6.88M	26.86M
EBT, Excl. Unusual Items	76.02M	131M	170M	233M	303M
Restructuring Charges	-	-	-	-	-
Total Merger & Related Restructuring Charges	-4.4M	-	-2M	-900K	-100K
Gain (Loss) on Sale of Assets	73K	-	92.55M	-	-
Asset Writedown	-659K	-8.09M	-25.52M	-43.18M	-
Insurance Settlements	-	4.7M	-	-	-
Other Unusual Items	-18.73M	-61M	-30.66M	-2.16M	-12.94M
EBT, Incl. Unusual Items	52.3M	66.28M	205M	187M	290M
Income Tax Expense	19.53M	-43.26M	30.3M	97.57M	74.06M
Earnings From Continuing Operations	32.77M	110M	174M	88.97M	216M
Earnings Of Discontinued Operations	-	-	-	294M	-35.58M
Net Income to Company	32.77M	110M	174M	383M	180M
Minority Interest	-1.22M	-1.66M	-1.55M	-4.16M	-1.83M
Net Income - (IS)	31.55M	108M	173M	379M	179M
Net Income to Common Incl Extra Items	31.55M	108M	173M	379M	179M
Net Income to Common Excl. Extra Items	31.55M	108M	173M	84.81M	214M
Per Share Items
Net EPS - Basic	0.21	0.72	1.16	2.53	1.2
Basic EPS - Continuing Operations	0.21	0.72	1.16	0.57	1.44
Basic Weighted Average Shares Outstanding	149M	149M	149M	150M	149M
Net EPS - Diluted	0.21	0.72	1.16	2.53	1.2
Diluted EPS - Continuing Operations	0.21	0.72	1.16	0.57	1.44
Diluted Weighted Average Shares Outstanding	149M	149M	149M	150M	149M
Normalized Basic EPS	0.31	0.54	0.7	0.95	1.26
Normalized Diluted EPS	0.31	0.54	0.7	0.95	1.26
Dividend Per Share	0.75	0.75	0.9	1	1
Payout Ratio	353.86	103.49	64.87	35.52	83.7
American Depositary Receipts Ratio (ADR)	10	10	10	10	10
Supplemental Items
Utility Revenues	1.02B	974M	1.04B	714M	741M
Non Utility Revenues	22.8M	21.88M	8.34M	12.68M	26.21M
EBITDA	495M	470M	454M	486M	516M
EBITA	268M	243M	260M	318M	368M
EBIT	196M	172M	202M	259M	300M
EBITDAR	520M	495M	470M	501M	-
Effective Tax Rate - (Ratio)	37.34	-65.28	14.8	52.31	25.53
Current Domestic Taxes	-	-	-	-	-
Total Current Taxes	38.4M	47.81M	35.48M	144M	45.51M
Deferred Domestic Taxes	-	-	-	-	-
Total Deferred Taxes	-18.74M	-90.11M	-4.9M	-47.73M	30.91M
Normalized Net Income	46.29M	80.01M	105M	141M	188M
Interest Capitalized	-	2M	6M	10M	4M
Interest on Long-Term Debt	58.82M	28.49M	18.96M	18.68M	16.59M
Non-Cash Pension Expense	-	-	-	-	-
Supplemental Operating Expense Items
Advertising Expense	1.08M	684K	532K	477K	446K
Selling and Marketing Expenses	1.08M	684K	532K	477K	446K
Net Rental Expense, Total	25.44M	25.05M	15.91M	15.48M	-
Imputed Operating Lease Interest Expense	3.88M	3.67M	1.77M	2.02M	-
Imputed Operating Lease Depreciation	21.56M	21.38M	14.13M	13.46M	-
Maintenance & Repair Expenses, Total	34.02M	38.87M	40.5M	39.85M	45.57M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	654M	656M	860M	393M	468M
Short Term Investments - (Utility / Insurance Templates)	-	20.34M	424M	211M	238M
Trading Asset Securities, Total	-	50.25M	-	35.76M	30.77M
Accounts Receivable, Total	193M	178M	320M	202M	158M
Other Receivables	75.66M	64.91M	69.45M	97.99M	87.6M
Accounts Receivable (Summary Subtotal)	269M	243M	390M	300M	245M
Inventory - (Utility Template)	22.27M	49.38M	32.3M	17.6M	20.02M
Prepaid Expenses	-	-	-	-	-
Notes Receivable (Collected)	22.42M	-	-	-	-
Other Current Assets, Total	47.8M	43.5M	1B	349M	54.31M
Total Current Assets	1.02B	1.06B	2.71B	1.31B	1.06B
Gross Property Plant And Equipment	5.13B	5.3B	4.7B	4.76B	5.09B
Accumulated Depreciation	-2.8B	-3.04B	-2.65B	-2.48B	-2.52B
Net Property Plant And Equipment	2.34B	2.26B	2.05B	2.27B	2.57B
Goodwill	221M	223M	306M	408M	413M
Other Intangibles, Total	890M	826M	689M	972M	991M
Long-Term Investments - (Utility Template)	23.43M	12.68M	13.1M	34.91M	36.75M
Loans Receivable Long-Term - (Utility Template)	-	-	-	-	-
Deferred Tax Assets Long-Term (Collected)	42.26M	53.52M	150M	138M	41.4M
Other Long-Term Assets, Total	74.93M	89.06M	87.72M	92.32M	93.26M
Total Assets	4.6B	4.53B	6B	5.23B	5.2B
Liabilities
Accounts Payable, Total	87.83M	74.2M	254M	123M	122M
Accrued Expenses, Total	14.5M	21.82M	20.14M	25.95M	13.36M
Short-Term Borrowings	2.37M	74.09M	1.05B	62.19M	158M
Current Portion of Long-Term Debt	119M	76.75M	291M	312M	27.96M
Current Portion of Leases	7.41M	8.86M	6.28M	22.37M	6.35M
Current Income Taxes Payable	5.4M	17.01M	19.8M	52.31M	40.22M
Unearned Revenue, Current	157K	251K	4.94M	7.27M	2.49M
Other Current Liabilities - (Bank / Utility Template)	88.76M	81.51M	261M	231M	61.23M
Total Current Liabilities	326M	355M	1.91B	836M	432M
Long-Term Debt	2.03B	2.01B	2.07B	1.75B	2.02B
Long-Term Leases	70.13M	91.86M	123M	151M	166M
Unearned Revenue Non Current	1.8M	1.63M	1.48M	791K	14.5M
Pension & Other Post Retirement Benefits	5.38M	5.42M	4.29M	3.72M	3.54M
Deferred Tax Liability Non-Current	209M	120M	107M	197M	192M
Other Non Current Liabilities, Total	172M	171M	216M	232M	236M
Total Liabilities	2.82B	2.76B	4.44B	3.17B	3.06B
Common Stock, Total	15.03M	15.03M	15.03M	15.03M	15.03M
Additional Paid In Capital	64.57M	64.57M	69.17M	69.17M	74.54M
Retained Earnings	698M	773M	728M	820M	482M
Treasury Stock	-	-	-	-	-66.74M
Comprehensive Income and Other	997M	906M	747M	1.14B	1.63B
Total Common Equity	1.77B	1.76B	1.56B	2.05B	2.13B
Minority Interest	11.53M	9.67M	9.64M	9.33M	6.66M
Total Equity	1.79B	1.77B	1.57B	2.05B	2.14B
Total Liabilities And Equity	4.6B	4.53B	6B	5.23B	5.2B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	149M	149M	150M	150M	146M
ECS Total Common Shares Outstanding	149M	149M	150M	150M	147M
Book Value / Share	11.92	11.81	10.43	13.68	14.5
Tangible Book Value	664M	708M	564M	666M	730M
Tangible Book Value Per Share	4.46	4.76	3.77	4.45	4.96
Total Debt	2.23B	2.27B	3.55B	2.3B	2.37B
Net Debt	1.58B	1.54B	2.26B	1.66B	1.64B
Debt Equivalent Oper. Leases	204M	200M	127M	124M	-
Minority Interest, Total (Incl. Fin. Div)	11.53M	9.67M	9.64M	9.33M	6.66M
Equity Method Investments, Total	13.03M	11.87M	11.23M	-	-
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	-	-	-	-	-
Inventories - Finished Goods, Total	-	-	-	-	-
Inventories - Others	22.27M	49.38M	32.3M	17.6M	-
Land - (BS)	238M	239M	117M	99.83M	104M
Machinery, Total	4.73B	4.78B	4.17B	4.25B	4.43B
Full Time Employees	754	784	808	717	636
Accumulated Allowance for Doubtful Accounts (Supple)	7.78M	10.93M	13.85M	14.14M	5.34M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	31.55M	108M	173M	379M	179M
Depreciation, Depletion & Amortization	234M	234M	201M	177M	157M
Amortization of Goodwill and Intangible Assets - (CF)	71.06M	71.13M	58.8M	58.74M	67.78M
Total Depreciation, Depletion & Amortization	305M	305M	260M	235M	225M
Amortization of Deferred Charges, Total	-	-	3.75M	3.28M	2.48M
(Gain) Loss On Sale of Asset - (CF)	-	-	-	-	-
(Gain) Loss on Sale of Investments - (CF)	-	-	-	-	-
Total Asset Writedown	659K	8.09M	25.52M	43.18M	-
(Income) Loss On Equity Investments - (CF)	259K	-344K	-659K	-2.29M	-5.39M
Provision and Write-off of Bad Debts	903K	438K	8.44M	-	-8.8M
Change in Accounts Receivable	64.66M	15.49M	-167M	101M	53.37M
Change In Inventories	-650K	-5.92M	16.73M	-679K	-2.32M
Change in Accounts Payable	-5.64M	-14.11M	120M	-89.15M	-4.66M
Change In Income Taxes	-	-	-41.9M	-91.85M	-25.51M
Change in Other Net Operating Assets (Collected)	-4.75M	-38.85M	-353M	-32.93M	147M
Other Operating Activities	12.79M	32.86M	-13.89M	-85.77M	121M
Net Cash From Discontinued Operations	-	-	-	-	203M
Cash from Operations	405M	411M	30.59M	459M	883M
Capital Expenditure	-64.28M	-106M	-255M	-307M	-300M
Sale of Property, Plant, and Equipment	-	-	6.55M	4.41M	-
Cash Acquisitions	-155M	-3.38M	-50.86M	-416M	-84.7M
Purchase / Sale of Intangible Assets	-4.23M	-5.71M	-3.91M	-4.12M	-5.68M
Investment in Marketable and Equity Securities, Total	26.16M	-52.49M	-410M	253M	-19.19M
Net (Increase) Decrease in Loans Originated / Sold - Investing	36.18M	-	-	-	-
Other Investing Activities, Total	-1K	-357K	-14.08M	1.23B	93.12M
Cash from Investing	-161M	-168M	-727M	759M	-317M
Short Term Debt Issued, Total	66.87M	49.91M	1B	-	84.5M
Long-Term Debt Issued, Total	699M	600M	500M	-	330M
Total Debt Issued	766M	650M	1.5B	-	414M
Short Term Debt Repaid, Total	-19.98M	-99.83M	-195M	-1.19B	-30.08M
Long-Term Debt Repaid, Total	-943M	-623M	-327M	-361M	-451M
Total Debt Repaid	-963M	-723M	-522M	-1.56B	-481M
Issuance of Common Stock	-	-	-	-	-
Repurchase of Common Stock	-	-	-	-	-61.36M
Common Dividends Paid	-112M	-112M	-112M	-135M	-150M
Common & Preferred Stock Dividends Paid	-112M	-112M	-112M	-135M	-150M
Special Dividend Paid	-	-	-	-	-
Other Financing Activities, Total	-55.71M	-56.02M	35.89M	-4.42M	-214M
Cash from Financing	-365M	-241M	901M	-1.7B	-491M
Miscellaneous Cash Flow Adjustments	-2K	1K	-1K	10M	-
Net Change in Cash	-121M	2.04M	205M	-468M	74.76M
Supplemental Items
Cash Interest Paid	40.53M	52.51M	32.4M	29.15M	-
Cash Income Tax Paid (Refund)	40.96M	25.41M	41.9M	91.85M	25.51M
Net Debt Issued / Repaid	-197M	-73.37M	978M	-1.56B	-66.6M
Levered Free Cash Flow	418M	278M	-621M	703M	232M
Unlevered Free Cash Flow	444M	302M	-603M	723M	260M
Change In Net Working Capital	-84.76M	-1.07M	730M	-637M	-153M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	2.64	2.36	2.39	2.88	3.6
Return on Total Capital	3.05	2.67	2.76	3.42	4.24
Return On Equity %	1.81	6.16	10.46	4.91	10.3
Return on Common Equity	1.75	6.11	10.42	4.71	10.25
Margin Analysis
Gross Profit Margin %	59.12	59.05	48.85	74.78	77.71
SG&A Margin	8.94	9.28	6.12	7	7.18
EBITDA Margin %