Income Statement Giglio Group S.p.A.

Equities

GGTV

IT0005122400

Diversified Industrial Goods Wholesale

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Published financial data: GIGLIO GROUP S.P.A.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	37.74M	41.29M	38.24M	36.59M	17.96M
Other Revenues, Total	1.01M	696K	219K	508K	3.3M
Total Revenues	38.75M	41.99M	38.46M	37.1M	21.25M
Cost of Goods Sold, Total	36.4M	39.34M	38.64M	36.42M	22.77M
Gross Profit	2.35M	2.64M	-177K	681K	-1.52M
Selling General & Admin Expenses, Total	972K	454K	467K	387K	390K
Provision for Bad Debts	-	-48K	-	-	-
Depreciation & Amortization - (IS)	1.3M	828K	456K	340K	281K
Amortization of Goodwill and Intangible Assets - (IS)	475K	1.05M	1.07M	870K	836K
Other Operating Expenses	339K	244K	409K	106K	187K
Other Operating Expenses, Total	3.08M	2.53M	2.4M	1.7M	1.69M
Operating Income	-734K	118K	-2.58M	-1.02M	-3.21M
Interest Expense, Total	-1.03M	-961K	-1.39M	-887K	-654K
Interest And Investment Income	1K	-	3K	4K	-
Net Interest Expenses	-1.03M	-961K	-1.38M	-883K	-654K
Currency Exchange Gains (Loss)	-331K	332K	-138K	-22K	-2K
Other Non Operating Income (Expenses)	-226K	-326K	-66K	-132K	-57K
EBT, Excl. Unusual Items	-2.32M	-837K	-4.17M	-2.06M	-3.92M
Impairment of Goodwill	-	-1.61M	-	-	-
Gain (Loss) On Sale Of Investments	-	333K	-	-	-
Asset Writedown	20K	-852K	-647K	-108K	93K
Legal Settlements	-	-	-	-	-
Other Unusual Items	-1.28M	600K	-	-	6K
EBT, Incl. Unusual Items	-3.58M	-2.36M	-4.81M	-2.17M	-3.82M
Income Tax Expense	1.19M	284K	-191K	-73K	121K
Earnings From Continuing Operations	-4.77M	-2.65M	-4.62M	-2.09M	-3.95M
Earnings Of Discontinued Operations	-11.03M	-	-	-	-
Net Income to Company	-15.8M	-2.65M	-4.62M	-2.09M	-3.95M
Minority Interest	-	-	-	16K	-
Net Income - (IS)	-15.8M	-2.65M	-4.62M	-2.08M	-3.95M
Net Income to Common Incl Extra Items	-15.8M	-2.65M	-4.62M	-2.08M	-3.95M
Net Income to Common Excl. Extra Items	-4.77M	-2.65M	-4.62M	-2.08M	-3.95M
Per Share Items
Net EPS - Basic	-0.98	-0.13	-0.21	-0.09	-0.12
Basic EPS - Continuing Operations	-0.3	-0.13	-0.21	-0.09	-0.12
Basic Weighted Average Shares Outstanding	16.06M	20.75M	21.97M	21.97M	33.27M
Net EPS - Diluted	-0.98	-0.13	-0.21	-0.09	-0.12
Diluted EPS - Continuing Operations	-0.3	-0.13	-0.21	-0.09	-0.12
Diluted Weighted Average Shares Outstanding	16.06M	20.75M	21.97M	21.97M	33.27M
Normalized Basic EPS	-0.09	-0.03	-0.12	-0.06	-0.07
Normalized Diluted EPS	-0.09	-0.03	-0.12	-0.06	-0.07
Supplemental Items
EBITDA	267K	1M	-1.8M	-501K	-2.32M
EBITA	-259K	839K	-1.94M	-606K	-2.6M
EBIT	-734K	118K	-2.58M	-1.02M	-3.21M
EBITDAR	519K	1.09M	-1.62M	-253K	-2.24M
Effective Tax Rate - (Ratio)	-33.11	-12.02	3.97	3.37	-3.16
Total Current Taxes	823K	270K	208K	96K	13K
Total Deferred Taxes	363K	14K	-399K	-169K	108K
Normalized Net Income	-1.45M	-523K	-2.6M	-1.27M	-2.45M
Interest on Long-Term Debt	840K	623K	310K	608K	525K
Non-Cash Pension Expense	-	217K	-	121K	-
Supplemental Operating Expense Items
Advertising Expense	341K	151K	164K	65K	235K
Marketing Expenses	379K	210K	123K	74K	80K
Selling and Marketing Expenses	720K	361K	287K	139K	315K
Research And Development Expense From Footnotes	-	327K	426K	454K	-
Net Rental Expense, Total	252K	93K	180K	248K	75K
Imputed Operating Lease Interest Expense	91.59K	36.59K	115K	93.62K	31.37K
Imputed Operating Lease Depreciation	160K	56.41K	65.37K	154K	43.63K
Maintenance & Repair Expenses, Total	14K	22K	11K	16K	14K

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	2.99M	5.08M	2.47M	1.79M	966K
Short Term Investments	-	-	-	-	-
Total Cash And Short Term Investments	2.99M	5.08M	2.47M	1.79M	966K
Accounts Receivable, Total	12.18M	9.95M	9.93M	11.29M	4.48M
Other Receivables	12.09M	1.54M	934K	2.11M	999K
Total Receivables	24.27M	11.49M	10.86M	13.4M	5.48M
Inventory	1.86M	1.75M	2.24M	1.56M	393K
Prepaid Expenses	-	339K	-	454K	114K
Deferred Tax Assets Current	-	-	-	-	-
Other Current Assets, Total	16K	1.49M	1.31M	24K	4K
Total Current Assets	29.14M	20.16M	16.89M	17.23M	6.95M
Gross Property Plant And Equipment	9.26M	7.98M	4.12M	3.51M	3.6M
Accumulated Depreciation	-6.22M	-6.63M	-3.05M	-3.05M	-3.06M
Net Property Plant And Equipment	3.04M	1.36M	1.07M	456K	538K
Long-term Investments	7K	8K	8K	5K	2.05M
Goodwill	14.8M	12.35M	13.35M	13.35M	10.26M
Other Intangibles, Total	1.06M	3.06M	2.88M	2.08M	4.61M
Accounts Receivable Long-Term	-	-	-	-	-
Deferred Tax Assets Long-Term	783K	829K	949K	1.02M	903K
Deferred Charges Long-Term	1.46M	-	-	-	-
Other Long-Term Assets, Total	835K	663K	231K	242K	818K
Total Assets	51.13M	38.43M	35.38M	34.39M	26.13M
Liabilities
Accounts Payable, Total	19.4M	12.84M	9.1M	10.83M	6.8M
Accrued Expenses, Total	3.85M	2.88M	3M	4.78M	1.58M
Short-term Borrowings	14.25M	1.83M	2.51M	2.82M	4.53M
Current Portion of Long-Term Debt	4.03M	1.85M	6.71M	5.27M	-
Current Portion of Leases	741K	414K	392K	62K	232K
Current Income Taxes Payable	1.34M	630K	400K	468K	183K
Unearned Revenue Current, Total	1.05M	682K	1.67M	976K	2.3M
Other Current Liabilities	3.35M	3.52M	2.95M	1.97M	1.81M
Total Current Liabilities	48.02M	24.65M	26.72M	27.18M	17.42M
Long-Term Debt	2.63M	11.6M	8.38M	10.7M	6.65M
Long-Term Leases	1.15M	587K	558K	203K	96K
Pension & Other Post Retirement Benefits	-	730K	673K	365K	315K
Deferred Tax Liability Non Current	3K	387K	192K	141K	-
Other Non Current Liabilities	924K	155K	1.15M	77K	271K
Total Liabilities	52.73M	38.1M	37.67M	38.66M	24.75M
Common Stock, Total	3.66M	4.15M	4.39M	4.39M	6.65M
Retained Earnings	-21.45M	-24.19M	-28.79M	-30.91M	-31.44M
Comprehensive Income and Other	16.18M	20.36M	22.1M	22.2M	26.17M
Total Common Equity	-1.61M	325K	-2.3M	-4.32M	1.38M
Minority Interest	-	-	-	43K	-
Total Equity	-1.61M	325K	-2.3M	-4.27M	1.38M
Total Liabilities And Equity	51.13M	38.43M	35.38M	34.39M	26.13M
Supplemental Items
ECS Total Shares Outstanding on Filing Date	18.31M	20.75M	21.97M	21.97M	33.27M
ECS Total Common Shares Outstanding	18.31M	20.75M	21.97M	21.97M	33.27M
Book Value / Share	-0.09	0.02	-0.1	-0.2	0.04
Tangible Book Value	-17.47M	-15.09M	-18.53M	-19.75M	-13.49M
Tangible Book Value Per Share	-0.95	-0.73	-0.84	-0.9	-0.41
Total Debt	22.8M	16.28M	18.54M	19.05M	11.51M
Net Debt	19.81M	11.19M	16.07M	17.26M	10.54M
Debt Equivalent Oper. Leases	2.02M	744K	1.44M	1.98M	600K
Minority Interest, Total (Incl. Fin. Div)	-	-	-	43K	-
Equity Method Investments, Total	-	-	-	5K	2.05M
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Finished Goods, Total	1.86M	1.75M	2.24M	1.56M	393K
Machinery, Total	4.86M	4.8M	2.23M	2.11M	1.95M
Full Time Employees	-	83	97	60	43
Accumulated Allowance for Doubtful Accounts (Supple)	1.44M	1.39M	1.56M	1.67M	150K

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	-15.8M	-2.65M	-4.62M	-2.08M	-3.95M
Depreciation & Amortization - CF	1.3M	828K	456K	340K	491K
Amortization of Goodwill and Intangible Assets - (CF)	475K	721K	645K	416K	611K
Depreciation & Amortization, Total	1.77M	1.55M	1.1M	756K	1.1M
Amortization of Deferred Charges, Total - (CF)	-	327K	426K	454K	225K
Asset Writedown & Restructuring Costs	-	2.46M	647K	108K	-93K
Provision and Write-off of Bad Debts	-20K	-48K	-	-	-
Net Cash From Discontinued Operations	-11.03M	-	-	-	-
Other Operating Activities, Total	13.39M	-91K	810K	-316K	509K
Change In Accounts Receivable	2.96M	2.23M	-251K	-206K	2.02M
Change In Inventories	3.46M	108K	-932K	679K	212K
Change In Accounts Payable	-5.94M	-7.03M	-2.14M	1.03M	1.19M
Change In Income Taxes	3.76M	4.13M	928K	591K	464K
Change In Deferred Taxes	-	70K	-196K	-50K	-
Change in Other Net Operating Assets	9M	2.3M	1.05M	-2.55M	376K
Cash from Operations	1.55M	3.36M	-3.18M	-1.58M	2.06M
Capital Expenditure	-53K	-184K	-363K	-	-360K
Sale of Property, Plant, and Equipment	1.18M	-	-	8K	-
Cash Acquisitions	564K	-	-1.58M	-	-
Sale (Purchase) of Intangible assets	-2.33M	-376K	-865K	-263K	-162K
Investment in Marketable and Equity Securities, Total	1K	-1K	-	3K	-
Cash from Investing	-640K	-561K	-2.81M	-252K	-522K
Short Term Debt Issued, Total	-	-	-	-	-
Long-Term Debt Issued, Total	8.34M	8.45M	2.02M	4.99M	458K
Total Debt Issued	8.34M	8.45M	2.02M	4.99M	458K
Long-Term Debt Repaid, Total	-12.7M	-12.24M	-636K	-3.94M	-3.52M
Total Debt Repaid	-12.7M	-12.24M	-636K	-3.94M	-3.52M
Issuance of Common Stock	3.59M	3.08M	2M	116K	2.38M
Other Financing Activities, Total	-33K	-	-	-	-
Cash from Financing	-811K	-703K	3.38M	1.16M	-680K
Miscellaneous Cash Flow Adjustments	-	-1K	-	-	1K
Net Change in Cash	101K	2.09M	-2.61M	-679K	861K
Supplemental Items
Cash Interest Paid	530K	347K	468K	884K	714K
Cash Income Tax Paid (Refund)	-	-	-	-	-
Levered Free Cash Flow	13.58M	3.41M	-4.95M	641K	2.41M
Unlevered Free Cash Flow	14.23M	4.01M	-4.09M	1.2M	2.82M
Change In Net Working Capital	-15.3M	-2.62M	2.77M	-887K	-4.02M
Net Debt Issued / Repaid	-4.37M	-3.79M	1.38M	1.04M	-3.06M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	-0.77	0.16	-4.37	-1.83	-7.98
Return on Total Capital	-1.76	0.39	-9.82	-4.12	-14.97
Return On Equity %	-140.17	404.74	469.1	63.74	-442.13
Return on Common Equity	-140.17	404.74	469.1	62.85	-442.13
Margin Analysis
Gross Profit Margin %	6.06	6.3	-0.46	1.84	-7.14
SG&A Margin	2.51	1.08	1.21	1.04	1.84
EBITDA Margin %	0.69	2.38	-4.68	-1.35	-10.91
EBITA Margin %	-0.67	2	-5.03	-1.63	-12.23
EBIT Margin %	-1.89	0.28	-6.71	-2.75	-15.11
Income From Continuing Operations Margin %	-12.31	-6.3	-12.02	-5.64	-18.57
Net Income Margin %	-40.77	-6.3	-12.02	-5.6	-18.57
Net Avail. For Common Margin %	-12.31	-6.3	-12.02	-5.6	-18.57
Normalized Net Income Margin	-3.75	-1.25	-6.77	-3.43	-11.54
Levered Free Cash Flow Margin	35.05	8.13	-12.88	1.73	11.32
Unlevered Free Cash Flow Margin	36.71	9.56	-10.63	3.22	13.25
Asset Turnover
Asset Turnover	0.65	0.93	1.04	1.06	0.84
Fixed Assets Turnover	17.1	19.1	31.71	48.62	52.8
Receivables Turnover (Average Receivables)	3.06	3.73	3.85	3.45	3.31
Inventory Turnover (Average Inventory)	10.2	21.77	19.36	19.18	45.63
Short Term Liquidity
Current Ratio	0.61	0.82	0.63	0.63	0.4
Quick Ratio	0.57	0.67	0.5	0.56	0.37
Operating Cash Flow to Current Liabilities	0.03	0.14	-0.12	-0.06	0.12
Days Sales Outstanding (Average Receivables)	119.44	98.08	94.87	105.85	110.11
Days Outstanding Inventory (Average Inventory)	35.77	16.81	18.86	19.03	8
Average Days Payable Outstanding	239.76	150.38	102.36	101.79	97.54
Cash Conversion Cycle (Average Days)	-84.55	-35.49	11.36	23.08	20.57
Long Term Solvency
Total Debt/Equity	-1.42K	5.01K	-807.62	-445.74	835.58