Cash flow Meko AB

Equities

MEKO

SE0002110064

Auto Vehicles, Parts & Service Retailers

Market Closed - Nasdaq Stockholm Other stock markets 17:00:00 06/09/2024 BST			5-day change	1st Jan Change
126.20 ^SEK	-2.62%		-4.68%	+15.36%

08-29	Meko Partners with Sustainability Platform Worldfavor	MT
08-22	Transcript : Meko AB, Q2 2024 Earnings Call, Aug 22, 2024

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Published financial data: MEKO AB

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	11.84B	11.51B	12.31B	14.07B	16.76B
Other Revenues, Total	175M	190M	243M	324M	516M
Total Revenues	12.02B	11.7B	12.55B	14.39B	17.28B
Cost of Goods Sold, Total	6.54B	6.32B	6.71B	7.74B	9.5B
Gross Profit	5.48B	5.38B	5.84B	6.65B	7.78B
Selling General & Admin Expenses, Total	3.95B	3.87B	4.14B	5.02B	5.92B
Depreciation & Amortization - (IS)	614M	606M	582M	660M	747M
Amortization of Goodwill and Intangible Assets - (IS)	215M	230M	223M	197M	190M
Other Operating Expenses, Total	4.78B	4.71B	4.95B	5.87B	6.86B
Operating Income	702M	675M	895M	774M	923M
Interest Expense, Total	-151M	-133M	-115M	-152M	-286M
Interest And Investment Income	12M	10M	9M	17M	38M
Net Interest Expenses	-139M	-123M	-106M	-135M	-248M
Currency Exchange Gains (Loss)	6M	-2M	-8M	-29M	-30M
Other Non Operating Income (Expenses)	-17M	-16M	-23M	-14M	-13M
EBT, Excl. Unusual Items	552M	534M	758M	596M	632M
Restructuring Charges	-	-	-	-15M	-50M
Impairment of Goodwill	-	-	-	-	-
Asset Writedown	3M	-	-	-	-
Insurance Settlements	-	63M	-	-	-
Other Unusual Items	-	-	-	-	-
EBT, Incl. Unusual Items	555M	597M	758M	581M	582M
Income Tax Expense	134M	150M	172M	104M	132M
Earnings From Continuing Operations	421M	447M	586M	477M	450M
Net Income to Company	421M	447M	586M	477M	450M
Minority Interest	-8M	-15M	-14M	-23M	-31M
Net Income - (IS)	413M	432M	572M	454M	419M
Net Income to Common Incl Extra Items	413M	432M	572M	454M	419M
Net Income to Common Excl. Extra Items	413M	432M	572M	454M	419M
Per Share Items
Net EPS - Basic	7.33	7.67	10.21	8.12	7.49
Basic EPS - Continuing Operations	7.33	7.67	10.21	8.12	7.49
Basic Weighted Average Shares Outstanding	56.34M	56.32M	56.05M	55.89M	55.92M
Net EPS - Diluted	7.33	7.67	10.21	8.12	7.49
Diluted EPS - Continuing Operations	7.33	7.67	10.21	8.12	7.49
Diluted Weighted Average Shares Outstanding	56.34M	56.32M	56.05M	55.89M	55.92M
Normalized Basic EPS	5.98	5.66	8.2	6.25	6.51
Normalized Diluted EPS	5.98	5.66	8.2	6.25	6.51
Dividend Per Share	-	-	3	3.3	3.7
Payout Ratio	-	-	-	37	44.15
Supplemental Items
EBITDA	993M	965M	1.17B	1.04B	1.2B
EBITA	883M	858M	1.06B	906M	1.04B
EBIT	702M	675M	895M	774M	923M
EBITDAR	1.04B	1.01B	1.21B	1.06B	1.22B
Total Revenues (As Reported)	12.02B	11.76B	12.55B	14.39B	17.28B
Effective Tax Rate - (Ratio)	24.14	25.13	22.69	17.9	22.68
Current Domestic Taxes	42M	12M	46M	36M	28M
Current Foreign Taxes	144M	177M	163M	145M	156M
Total Current Taxes	186M	189M	209M	181M	184M
Total Deferred Taxes	-53M	-39M	-36M	-76M	-53M
Normalized Net Income	337M	319M	460M	350M	364M
Interest Capitalized	-	-	-	26M	7M
Interest on Long-Term Debt	43M	39M	39M	41M	63M
Non-Cash Pension Expense	2M	2M	2M	2M	2M
Supplemental Operating Expense Items
Net Rental Expense, Total	52M	41M	45M	20M	28M
Imputed Operating Lease Interest Expense	12.36M	8.25M	8.66M	5.3M	11.39M
Imputed Operating Lease Depreciation	39.64M	32.75M	36.34M	14.7M	16.61M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	355M	420M	892M	741M	623M
Total Cash And Short Term Investments	355M	420M	892M	741M	623M
Accounts Receivable, Total	855M	828M	974M	1.28B	1.33B
Other Receivables	719M	671M	753M	906M	1.03B
Total Receivables	1.57B	1.5B	1.73B	2.18B	2.36B
Inventory	2.85B	2.7B	3.02B	4.15B	4.46B
Prepaid Expenses	6M	7M	11M	11M	18M
Other Current Assets, Total	-	-	-	-	-
Total Current Assets	4.79B	4.63B	5.65B	7.08B	7.46B
Gross Property Plant And Equipment	3.35B	2.63B	2.76B	3.93B	3.73B
Accumulated Depreciation	-1.07B	-571M	-668M	-1.33B	-1.12B
Net Property Plant And Equipment	2.28B	2.06B	2.09B	2.6B	2.62B
Long-term Investments	23M	31M	26M	54M	34M
Goodwill	3.77B	3.68B	3.76B	4.14B	4.11B
Other Intangibles, Total	1.77B	1.58B	1.45B	1.6B	1.49B
Accounts Receivable Long-Term	67M	62M	62M	76M	92M
Deferred Tax Assets Long-Term	-	1M	3M	19M	-
Deferred Charges Long-Term	155M	146M	184M	200M	204M
Other Long-Term Assets, Total	10M	4M	5M	7M	32M
Total Assets	12.87B	12.19B	13.23B	15.77B	16.04B
Liabilities
Accounts Payable, Total	1.35B	1.32B	1.68B	2.19B	2.43B
Accrued Expenses, Total	479M	430M	476M	643M	767M
Short-term Borrowings	407M	68M	-	-	-
Current Portion of Long-Term Debt	341M	316M	197M	-	12M
Current Portion of Leases	457M	432M	467M	520M	583M
Current Income Taxes Payable	75M	107M	115M	70M	65M
Unearned Revenue Current, Total	2M	-	-	-	-
Other Current Liabilities	317M	609M	482M	511M	543M
Total Current Liabilities	3.43B	3.28B	3.42B	3.94B	4.4B
Long-Term Debt	3.33B	2.74B	3B	4.37B	3.64B
Long-Term Leases	1.32B	1.17B	1.18B	1.02B	1.38B
Pension & Other Post Retirement Benefits	-	-	-	-	-
Deferred Tax Liability Non Current	428M	388M	357M	501M	426M
Other Non Current Liabilities	27M	19M	46M	20M	25M
Total Liabilities	8.54B	7.6B	8B	9.85B	9.86B
Common Stock, Total	141M	141M	141M	141M	141M
Additional Paid In Capital	2.99B	2.99B	2.99B	2.99B	2.99B
Retained Earnings	1.4B	1.81B	2.36B	2.61B	2.87B
Comprehensive Income and Other	-232M	-416M	-316M	61M	38M
Total Common Equity	4.3B	4.53B	5.17B	5.8B	6.04B
Minority Interest	32M	68M	55M	125M	137M
Total Equity	4.34B	4.6B	5.23B	5.93B	6.18B
Total Liabilities And Equity	12.87B	12.19B	13.23B	15.77B	16.04B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	56.32M	56.32M	56.32M	55.79M	55.99M
ECS Total Common Shares Outstanding	56.32M	56.32M	56.32M	55.79M	55.99M
Book Value / Share	76.4	80.38	91.86	103.97	107.84
Tangible Book Value	-1.24B	-737M	-36M	69M	438M
Tangible Book Value Per Share	-22.02	-13.09	-0.64	1.24	7.82
Total Debt	5.85B	4.72B	4.84B	5.91B	5.61B
Net Debt	5.5B	4.3B	3.95B	5.17B	4.99B
Debt Equivalent of Unfunded Proj. Benefit Obligation	7M	-1M	-1M	-5M	-6M
Debt Equivalent Oper. Leases	416M	328M	360M	160M	224M
Minority Interest, Total (Incl. Fin. Div)	32M	68M	55M	125M	137M
Equity Method Investments, Total	23M	31M	26M	27M	34M
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Finished Goods, Total	2.87B	2.71B	3.02B	4.15B	4.46B
Land - (BS)	58M	42M	47M	1.01B	410M
Machinery, Total	839M	864M	950M	1.28B	1.33B
Full Time Employees	4.98K	4.89K	5.09K	5.32K	5.96K
Part Time Employees	664	624	617	603	606
Assets under Capital Lease - Gross	-	-	-	-	-
Assets under Capital Lease - Accumulated Depreciation	-	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	46M	51M	43M	59M	68M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	413M	432M	572M	454M	419M
Depreciation & Amortization - CF	613M	587M	580M	661M	747M
Amortization of Goodwill and Intangible Assets - (CF)	181M	183M	167M	132M	117M
Depreciation & Amortization, Total	794M	770M	747M	793M	864M
Amortization of Deferred Charges, Total - (CF)	34M	47M	56M	65M	73M
(Gain) Loss From Sale Of Asset	5M	16M	1M	-5M	-105M
(Gain) Loss on Sale of Investments - (CF)	-	-	9M	1M	-
Asset Writedown & Restructuring Costs	-3M	20M	2M	15M	50M
Other Operating Activities, Total	-52M	39M	38M	-79M	70M
Change In Accounts Receivable	-53M	15M	-201M	-186M	-219M
Change In Inventories	6M	2M	-236M	-251M	-296M
Change in Other Net Operating Assets	-2M	284M	239M	241M	396M
Cash from Operations	1.14B	1.62B	1.23B	1.05B	1.25B
Capital Expenditure	-88M	-103M	-96M	-137M	-155M
Sale of Property, Plant, and Equipment	5M	8M	1M	5M	445M
Cash Acquisitions	-64M	-37M	-33M	-1.33B	-37M
Divestitures	-	1M	2M	16M	50M
Sale (Purchase) of Intangible assets	-43M	-49M	-78M	-71M	-76M
Investment in Marketable and Equity Securities, Total	-	-	-	-1M	-20M
Other Investing Activities, Total	-9M	-6M	3M	-11M	6M
Cash from Investing	-199M	-186M	-201M	-1.53B	213M
Short Term Debt Issued, Total	129M	-	-	-	-
Long-Term Debt Issued, Total	529M	42M	1.24B	3.06B	1M
Total Debt Issued	658M	42M	1.24B	3.06B	1M
Short Term Debt Repaid, Total	-	-339M	-68M	-	-
Long-Term Debt Repaid, Total	-1.44B	-1.03B	-1.67B	-2.56B	-1.38B
Total Debt Repaid	-1.44B	-1.37B	-1.74B	-2.56B	-1.38B
Issuance of Common Stock	-	-	-	-	-
Repurchase of Common Stock	-2M	-	-	-	-
Common Dividends Paid	-	-	-	-168M	-185M
Common & Preferred Stock Dividends Paid	-	-	-	-168M	-185M
Other Financing Activities, Total	-9M	-13M	-64M	-41M	-31M
Cash from Financing	-798M	-1.34B	-569M	286M	-1.6B
Foreign Exchange Rate Adjustments	5M	-35M	15M	49M	12M
Net Change in Cash	150M	65M	472M	-150M	-118M
Supplemental Items
Cash Interest Paid	151M	113M	95M	126M	223M
Cash Income Tax Paid (Refund)	226M	170M	192M	240M	168M
Levered Free Cash Flow	976M	1.47B	858M	115M	994M
Unlevered Free Cash Flow	1.07B	1.55B	929M	210M	1.17B
Change In Net Working Capital	65M	-465M	259M	924M	110M
Net Debt Issued / Repaid	-787M	-1.33B	-505M	495M	-1.38B

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	3.7	3.37	4.4	3.34	3.63
Return on Total Capital	4.78	4.33	5.77	4.42	4.88
Return On Equity %	10.28	10.01	11.93	8.55	7.44
Return on Common Equity	10.16	9.78	11.79	8.27	7.08
Margin Analysis
Gross Profit Margin %	45.62	46	46.55	46.18	45.02
SG&A Margin	32.88	33.09	33.01	34.85	34.25
EBITDA Margin %	8.26	8.25	9.31	7.23	6.92
EBITA Margin %	7.35	7.33	8.46	6.3	6.02
EBIT Margin %	5.84	5.77	7.13	5.38	5.34
Income From Continuing Operations Margin %	3.5	3.82	4.67	3.31	2.6
Net Income Margin %	3.44	3.69	4.56	3.15	2.42
Net Avail. For Common Margin %	3.44	3.69	4.56	3.15	2.42
Normalized Net Income Margin	2.8	2.72	3.66	2.43	2.11
Levered Free Cash Flow Margin	8.12	12.55	6.83	0.8	5.75
Unlevered Free Cash Flow Margin	8.91	13.26	7.4	1.46	6.79
Asset Turnover
Asset Turnover	1.01	0.93	0.99	0.99	1.09
Fixed Assets Turnover	8.67	5.39	6.06	6.14	6.62
Receivables Turnover (Average Receivables)	13.74	13.68	13.66	12.49	12.85
Inventory Turnover (Average Inventory)	2.31	2.27	2.34	2.16	2.21
Short Term Liquidity
Current Ratio	1.4	1.41	1.65	1.8	1.7
Quick Ratio	0.56	0.58	0.77	0.74