Balance Sheet Pollard Banknote Limited

Equities

PBL

CA73150R1055

Casinos & Gaming

Market Closed - Toronto S.E. Other stock markets 21:00:00 13/09/2024 BST			5-day change	1st Jan Change
23.35 ^CAD	-0.21%		-4.26%	-27.10%

08-29	Pollard Banknote Partners With Alberta Gaming on eInstant Games	MT
08-26	Pollard Banknote to provide iLottery solution for Kansas Lottery	MT

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Published financial data: POLLARD BANKNOTE LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	398M	414M	459M	482M	520M
Total Revenues	398M	414M	459M	482M	520M
Cost of Goods Sold, Total	307M	323M	368M	400M	435M
Gross Profit	91.11M	91.04M	91.1M	81.82M	85.82M
Selling General & Admin Expenses, Total	55.34M	52.76M	63.75M	67.25M	78.97M
Other Operating Expenses	-1.99M	-1.24M	-524K	-462K	-316K
Other Operating Expenses, Total	53.35M	51.51M	63.23M	66.79M	78.66M
Operating Income	37.76M	39.53M	27.87M	15.03M	7.16M
Interest Expense, Total	-6.42M	-4.84M	-4.98M	-8.26M	-10.52M
Net Interest Expenses	-6.42M	-4.84M	-4.98M	-8.26M	-10.52M
Income (Loss) On Equity Invest.	-3.94M	1.59M	12.34M	23.72M	39.06M
Currency Exchange Gains (Loss)	2.8M	942K	-1.42M	-3.72M	2.04M
EBT, Excl. Unusual Items	30.2M	37.22M	33.81M	26.77M	37.74M
Merger & Related Restructuring Charges	-1.2M	-2.2M	-1M	-	-
Gain (Loss) On Sale Of Investments	-	-	-	-	-
Gain (Loss) On Sale Of Assets	-	-	-	-	-
Insurance Settlements	-	-	952K	-	242K
Legal Settlements	-	-	-2.52M	-	-
Other Unusual Items	-	11.12M	-4.12M	-4.56M	-440K
EBT, Incl. Unusual Items	29M	46.14M	27.12M	22.22M	37.54M
Income Tax Expense	6.98M	12.85M	7.41M	2.94M	6.12M
Earnings From Continuing Operations	22.02M	33.29M	19.7M	19.28M	31.42M
Net Income to Company	22.02M	33.29M	19.7M	19.28M	31.42M
Net Income - (IS)	22.02M	33.29M	19.7M	19.28M	31.42M
Net Income to Common Incl Extra Items	22.02M	33.29M	19.7M	19.28M	31.42M
Net Income to Common Excl. Extra Items	22.02M	33.29M	19.7M	19.28M	31.42M
Per Share Items
Net EPS - Basic	0.86	1.3	0.74	0.72	1.17
Basic EPS - Continuing Operations	0.86	1.3	0.74	0.72	1.17
Basic Weighted Average Shares Outstanding	25.63M	25.64M	26.74M	26.92M	26.94M
Net EPS - Diluted	0.86	1.28	0.73	0.71	1.15
Diluted EPS - Continuing Operations	0.86	1.28	0.73	0.71	1.15
Diluted Weighted Average Shares Outstanding	25.89M	26.02M	27.06M	27.23M	27.41M
Normalized Basic EPS	0.74	0.91	0.79	0.62	0.88
Normalized Diluted EPS	0.73	0.89	0.78	0.61	0.86
Dividend Per Share	0.16	0.16	0.16	0.16	0.16
Payout Ratio	17.46	12.32	21.61	22.34	13.72
Supplemental Items
EBITDA	57.23M	59.65M	51.83M	38.56M	33.06M
EBITA	42.22M	44.67M	34.08M	20.9M	13.56M
EBIT	37.76M	39.53M	27.87M	15.03M	7.16M
EBITDAR	60.9M	-	-	42.1M	36.56M
Effective Tax Rate - (Ratio)	24.08	27.86	27.34	13.23	16.31
Total Current Taxes	2.14M	10.96M	14.25M	9.58M	23.14M
Total Deferred Taxes	4.85M	1.9M	-6.83M	-6.65M	-17.01M
Normalized Net Income	18.88M	23.26M	21.13M	16.73M	23.59M
Interest on Long-Term Debt	6.42M	4.84M	4.98M	8.26M	10.52M
Non-Cash Pension Expense	1.06M	1.19M	1.43M	1.09M	412K
Supplemental Operating Expense Items
Selling and Marketing Expenses	15.91M	14.64M	17.54M	17.46M	20.68M
General and Administrative Expenses	39.42M	38.11M	46.21M	49.8M	58.3M
Research And Development Expense From Footnotes	102K	120K	120K	120K	85K
Net Rental Expense, Total	3.67M	-	-	3.55M	3.51M
Imputed Operating Lease Interest Expense	1.46M	-	-	1.76M	2.17M
Imputed Operating Lease Depreciation	2.22M	-	-	1.79M	1.34M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	7.45M	1.89M	3.52M	1.48M	3.33M
Total Cash And Short Term Investments	7.45M	1.89M	3.52M	1.48M	3.33M
Accounts Receivable, Total	57.21M	66.04M	73.35M	79.31M	82.84M
Other Receivables	5.2M	338K	4.48M	10.06M	2.4M
Total Receivables	62.41M	66.38M	77.83M	89.38M	85.24M
Inventory	42.54M	46.62M	45.01M	62.13M	60.51M
Prepaid Expenses	7.22M	6.71M	7.58M	6.92M	8.14M
Restricted Cash	13M	19.06M	19.24M	25.03M	25.98M
Total Current Assets	133M	141M	153M	185M	183M
Gross Property Plant And Equipment	250M	273M	301M	321M	324M
Accumulated Depreciation	-158M	-176M	-197M	-221M	-223M
Net Property Plant And Equipment	91.9M	96.4M	105M	101M	101M
Long-term Investments	1.16M	881K	585K	549K	518K
Goodwill	69.99M	89.28M	108M	111M	111M
Other Intangibles, Total	53.76M	73.82M	94.1M	99.38M	104M
Deferred Tax Assets Long-Term	2.38M	3.22M	-	1.07M	8.77M
Deferred Charges Long-Term	445K	325K	205K	85K	0
Other Long-Term Assets, Total	-	-	584K	1.48M	7.78M
Total Assets	352M	405M	461M	499M	516M
Liabilities
Accounts Payable, Total	46.78M	56.95M	79.13M	85.92M	87.68M
Accrued Expenses, Total	-	-	-	-	-
Current Portion of Long-Term Debt	-	-	-	-	-
Current Portion of Leases	4.38M	5.11M	6.15M	6.08M	4.68M
Current Income Taxes Payable	641K	4.94M	194K	6.19M	52K
Unearned Revenue Current, Total	-	379K	2.24M	2.16M	3.37M
Other Current Liabilities	1.62M	3.51M	3.25M	4.68M	5.63M
Total Current Liabilities	53.41M	70.89M	90.97M	105M	101M
Long-Term Debt	127M	131M	115M	122M	120M
Long-Term Leases	11.55M	11.83M	10.42M	7.54M	12.87M
Unearned Revenue Non Current	-	-	-	-	881K
Pension & Other Post Retirement Benefits	26.55M	36.37M	22.54M	-	2.59M
Deferred Tax Liability Non Current	9.84M	10.69M	11.11M	12.62M	2.7M
Other Non Current Liabilities	337K	1.32M	4.28M	486K	767K
Total Liabilities	229M	262M	254M	247M	241M
Common Stock, Total	109M	109M	150M	150M	151M
Retained Earnings	8.94M	30.81M	58.69M	93.17M	120M
Comprehensive Income and Other	5.7M	2.56M	-1.58M	8.91M	4.45M
Total Common Equity	123M	142M	207M	252M	275M
Total Equity	123M	142M	207M	252M	275M
Total Liabilities And Equity	352M	405M	461M	499M	516M
Supplemental Items
ECS Total Shares Outstanding on Filing Date	25.64M	26.89M	26.92M	26.92M	26.97M
ECS Total Common Shares Outstanding	25.64M	25.71M	26.92M	26.92M	26.97M
Book Value / Share	4.81	5.54	7.69	9.36	10.19
Tangible Book Value	-471K	-20.71M	4.68M	41.4M	59.89M
Tangible Book Value Per Share	-0.02	-0.81	0.17	1.54	2.22
Total Debt	143M	148M	132M	135M	137M
Net Debt	136M	146M	128M	134M	134M
Debt Equivalent of Unfunded Proj. Benefit Obligation	26.55M	36.37M	22.54M	-988K	2.59M
Debt Equivalent Oper. Leases	29.39M	-	-	28.37M	28.06M
Equity Method Investments, Total	1.16M	881K	585K	549K	518K
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	17.96M	16.76M	21.68M	28.26M	28.32M
Inventories - Work In Process, Total	1.73M	2.21M	2.27M	1.6M	2.81M
Inventories - Finished Goods, Total	22.86M	27.66M	21.06M	32.27M	29.38M
Land - (BS)	1.69M	2.13M	2.13M	2.18M	2.16M
Buildings, Total	40.19M	46.37M	51.8M	53.64M	51.49M
Machinery, Total	194M	208M	224M	243M	249M
Full Time Employees	1.72K	1.78K	2.06K	2.19K	2.28K
Part Time Employees	114	122	105	67	62
Accumulated Allowance for Doubtful Accounts (Supple)	188K	177K	-	-	-

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	22.02M	33.29M	19.7M	19.28M	31.42M
Depreciation & Amortization - CF	19.75M	20.38M	24.18M	24.27M	25.98M
Amortization of Goodwill and Intangible Assets - (CF)	4.46M	5.13M	6.2M	5.87M	6.4M
Depreciation & Amortization, Total	24.21M	25.52M	30.39M	30.14M	32.38M
Amortization of Deferred Charges, Total - (CF)	2.92M	5.95M	9.16M	10.84M	12.61M
(Gain) Loss From Sale Of Asset	-	-	-	-	-
(Gain) Loss on Sale of Investments - (CF)	-	-	-	-	-
(Income) Loss On Equity Investments - (CF)	3.94M	-1.59M	-12.34M	-23.72M	13K
Other Operating Activities, Total	-1.3M	7.46M	346K	9.25M	-17.13M
Change In Accounts Receivable	-21.57M	-6.56M	-1.35M	-4.36M	-343K
Change In Inventories	756K	-4.75M	2.63M	-15.69M	1.14M
Change In Accounts Payable	464K	869K	7.51M	5.77M	9.03M
Change in Unearned Revenues	-798K	-9K	1.87M	-71K	2.08M
Change In Income Taxes	-742K	-718K	-914K	-1.54M	28K
Change in Other Net Operating Assets	-607K	196K	-474K	505K	-6.6M
Cash from Operations	29.3M	59.65M	56.54M	30.4M	64.63M
Capital Expenditure	-17.24M	-12.96M	-22.23M	-14.32M	-14.58M
Sale of Property, Plant, and Equipment	20K	-	-	-	-
Cash Acquisitions	-8.54M	-44.59M	-38.37M	-15.14M	-13.99M
Sale (Purchase) of Intangible assets	-8.5M	-5.98M	-12.6M	-18.9M	-23.52M
Investment in Marketable and Equity Securities, Total	-4M	1.86M	12.61M	23.79M	-
Other Investing Activities, Total	-48K	-	-	-	-
Cash from Investing	-38.31M	-61.67M	-60.59M	-24.57M	-52.09M
Long-Term Debt Issued, Total	14.36M	5.06M	-	3.17M	-
Total Debt Issued	14.36M	5.06M	-	3.17M	-
Long-Term Debt Repaid, Total	-4.42M	-5.1M	-21.58M	-6.55M	-7.56M
Total Debt Repaid	-4.42M	-5.1M	-21.58M	-6.55M	-7.56M
Issuance of Common Stock	19K	298K	32.84M	-	862K
Common Dividends Paid	-3.84M	-4.1M	-4.26M	-4.31M	-4.31M
Common & Preferred Stock Dividends Paid	-3.84M	-4.1M	-4.26M	-4.31M	-4.31M
Other Financing Activities, Total	-557K	-96K	-641K	-44K	76K
Cash from Financing	5.56M	-3.94M	6.37M	-7.73M	-10.94M
Foreign Exchange Rate Adjustments	-269K	400K	-688K	-142K	247K
Net Change in Cash	-3.73M	-5.56M	1.63M	-2.04M	1.85M
Supplemental Items
Cash Interest Paid	6.37M	4.71M	3.54M	5.86M	9.71M
Cash Income Tax Paid (Refund)	3.99M	1.05M	21.07M	7.49M	24.2M
Levered Free Cash Flow	-802K	37.38M	26.35M	-7.68M	4.05M
Unlevered Free Cash Flow	3.21M	40.4M	29.47M	-2.52M	10.62M
Change In Net Working Capital	21.78M	-3.16M	-7.32M	19.68M	741K
Net Debt Issued / Repaid	9.94M	-43K	-21.58M	-3.38M	-7.56M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	7.17	6.53	4.02	1.96	0.88
Return on Total Capital	9.44	8.87	5.54	2.59	1.12
Return On Equity %	18.28	25.06	11.28	8.4	11.93
Return on Common Equity	18.28	25.06	11.28	8.4	11.93
Margin Analysis
Gross Profit Margin %	22.9	21.98	19.85	16.97	16.49
SG&A Margin	13.91	12.74	13.89	13.94	15.17
EBITDA Margin %	14.38	14.4	11.29	8	6.35
EBITA Margin %	10.61	10.79	7.42	4.33	2.61
EBIT Margin %	9.49	9.55	6.07	3.12	1.38
Income From Continuing Operations Margin %	5.53	8.04	4.29	4	6.04
Net Income Margin %	5.53	8.04	4.29	4	6.04
Net Avail. For Common Margin %	5.53	8.04	4.29	4	6.04
Normalized Net Income Margin	4.74	5.62	4.6	3.47	4.53
Levered Free Cash Flow Margin	-0.2	9.03	5.74	-1.59	0.78
Unlevered Free Cash Flow Margin	0.81	9.76	6.42	-0.52	2.04
Asset Turnover
Asset Turnover	1.21	1.09	1.06	1	1.02
Fixed Assets Turnover	4.87	4.4	4.57	4.7	5.17
Receivables Turnover (Average Receivables)	8.66	6.72	6.63	6.32	6.23
Inventory Turnover (Average Inventory)	6.98	7.25	8.03	7.48	7.09
Short Term Liquidity
Current Ratio	2.48	1.98	1.68	1.76	1.81
Quick Ratio	1.31	0.96	0.89	0.87	0.87
Operating Cash Flow to Current Liabilities	0.55	0.84	0.62	0.29	0.64
Days Sales Outstanding (Average Receivables)	42.15	54.46	55.09	57.77	58.59
Days Outstanding Inventory (Average Inventory)	52.29	50.5	45.45	48.83	51.5
Average Days Payable Outstanding	53.04	58.02	67.8	72.13	75.25
Cash Conversion Cycle (Average Days)	41.4	46.94	32.74	34.46	34.84
Long Term Solvency
Total Debt/Equity	116.17	103.96	63.64	53.69	49.94
Total Debt / Total Capital	53.74	50.97	38.89	34.94	33.31
LT Debt/Equity