Cash flow Publicis Groupe S.A.

Equities

PUB

FR0000130577

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Market Closed - Euronext Paris Other stock markets 16:35:19 13/09/2024 BST			5-day change	1st Jan Change
96.50 ^EUR	+1.24%		+1.43%	+14.88%

09-04	PUBLICIS : price target raised by UBS	CF
08-09	PUBLICIS : A positive trend

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Published financial data: PUBLICIS GROUPE S.A.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	11B	10.79B	11.74B	14.2B	14.8B
Total Revenues	11B	10.79B	11.74B	14.2B	14.8B
Cost of Goods Sold, Total	5.96B	6.07B	6.59B	8.13B	8.4B
Gross Profit	5.04B	4.71B	5.15B	6.07B	6.4B
Selling General & Admin Expenses, Total	-	-	-	-	-
Depreciation & Amortization - (IS)	553M	600M	477M	535M	482M
Amortization of Goodwill and Intangible Assets - (IS)	204M	275M	256M	287M	268M
Other Operating Expenses	2.64B	2.37B	2.78B	3.18B	3.44B
Other Operating Expenses, Total	3.4B	3.25B	3.52B	4.01B	4.19B
Operating Income	1.64B	1.46B	1.64B	2.06B	2.21B
Interest Expense, Total	-207M	-262M	-185M	-205M	-199M
Interest And Investment Income	112M	66M	30M	85M	198M
Net Interest Expenses	-95M	-196M	-155M	-120M	-1M
Income (Loss) On Equity Invest.	-5M	-1M	-	5M	6M
Currency Exchange Gains (Loss)	-2M	-2M	2M	-15M	-7M
Other Non Operating Income (Expenses)	14M	7M	-7M	18M	-13M
EBT, Excl. Unusual Items	1.55B	1.27B	1.48B	1.95B	2.19B
Restructuring Charges	-243M	-401M	-175M	-163M	-258M
Merger & Related Restructuring Charges	-40M	-	-	-	-
Impairment of Goodwill	-	-15M	-	-28M	-6M
Gain (Loss) On Sale Of Investments	-40M	-	42M	-	-
Gain (Loss) On Sale Of Assets	-	-	-	-	-
Asset Writedown	-75M	-64M	-	-	-
Other Unusual Items	-1M	-26M	-1M	-105M	-190M
EBT, Incl. Unusual Items	1.15B	767M	1.34B	1.65B	1.74B
Income Tax Expense	305M	196M	307M	431M	415M
Earnings From Continuing Operations	844M	571M	1.04B	1.22B	1.32B
Net Income to Company	844M	571M	1.04B	1.22B	1.32B
Minority Interest	-3M	5M	-9M	-	-10M
Net Income - (IS)	841M	576M	1.03B	1.22B	1.31B
Net Income to Common Incl Extra Items	841M	576M	1.03B	1.22B	1.31B
Net Income to Common Excl. Extra Items	841M	576M	1.03B	1.22B	1.31B
Per Share Items
Net EPS - Basic	3.59	2.4	4.13	4.87	5.23
Basic EPS - Continuing Operations	3.59	2.4	4.13	4.87	5.23
Basic Weighted Average Shares Outstanding	234M	240M	249M	251M	251M
Net EPS - Diluted	3.55	2.38	4.08	4.82	5.17
Diluted EPS - Continuing Operations	3.55	2.38	4.08	4.82	5.17
Diluted Weighted Average Shares Outstanding	237M	242M	252M	254M	254M
Normalized Basic EPS	4.12	3.34	3.68	4.85	5.42
Normalized Diluted EPS	4.08	3.31	3.63	4.8	5.35
Dividend Per Share	1.15	2	0.33	0.14	3.19
Payout Ratio	33.89	17.71	22.1	6.81	55.34
American Depositary Receipts Ratio (ADR)	0.25	0.25	0.25	0.25	0.25
Supplemental Items
EBITDA	1.9B	1.86B	1.93B	2.37B	2.5B
EBITA	1.76B	1.71B	1.8B	2.23B	2.38B
EBIT	1.64B	1.46B	1.64B	2.06B	2.21B
EBITDAR	-	-	-	2.44B	2.54B
Total Revenues (As Reported)	11B	10.79B	11.74B	14.2B	14.8B
Effective Tax Rate - (Ratio)	26.54	25.55	22.86	26.07	23.89
Total Current Taxes	325M	311M	367M	560M	573M
Total Deferred Taxes	-20M	-115M	-60M	-129M	-158M
Normalized Net Income	964M	801M	914M	1.22B	1.36B
Interest on Long-Term Debt	70M	77M	70M	87M	79M
Non-Cash Pension Expense	8M	8M	7M	7M	14M
Supplemental Operating Expense Items
Net Rental Expense, Total	-	-	-	68M	40M
Imputed Operating Lease Interest Expense	-	-	-	17.99M	10.39M
Imputed Operating Lease Depreciation	-	-	-	50.01M	29.61M
Stock-Based Comp., COGS (Total)	49M	55M	52M	64M	85M
Total Stock-Based Compensation	49M	55M	52M	64M	85M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	3.41B	3.7B	3.66B	4.62B	4.25B
Total Cash And Short Term Investments	3.41B	3.7B	3.66B	4.62B	4.25B
Accounts Receivable, Total	11.24B	10.4B	12.29B	13.24B	14.7B
Other Receivables	442M	420M	491M	465M	800M
Total Receivables	11.68B	10.82B	12.78B	13.7B	15.5B
Inventory	411M	230M	277M	327M	341M
Prepaid Expenses	99M	107M	147M	174M	226M
Other Current Assets, Total	216M	276M	259M	287M	238M
Total Current Assets	15.82B	15.13B	17.13B	19.11B	20.55B
Gross Property Plant And Equipment	4.75B	4.22B	4.39B	4.48B	3.41B
Accumulated Depreciation	-1.91B	-1.95B	-2.28B	-2.12B	-1.2B
Net Property Plant And Equipment	2.84B	2.27B	2.1B	2.36B	2.21B
Long-term Investments	174M	168M	213M	262M	231M
Goodwill	11.63B	10.86B	11.76B	12.55B	12.42B
Other Intangibles, Total	1.98B	1.51B	1.38B	1.25B	958M
Accounts Receivable Long-Term	22M	21M	21M	71M	16M
Loans Receivable Long-Term	21M	34M	35M	68M	37M
Deferred Tax Assets Long-Term	143M	137M	175M	186M	212M
Other Long-Term Assets, Total	33M	33M	32M	48M	78M
Total Assets	32.66B	30.16B	32.85B	35.9B	36.72B
Liabilities
Accounts Payable, Total	13.41B	12.89B	14.48B	15.66B	17.08B
Accrued Expenses, Total	1.05B	1.21B	1.44B	1.44B	1.53B
Short-term Borrowings	6M	3M	12M	1M	1M
Current Portion of Long-Term Debt	1.86B	943M	290M	1.01B	883M
Current Portion of Leases	336M	292M	288M	360M	360M
Current Income Taxes Payable	351M	296M	328M	486M	378M
Unearned Revenue Current, Total	353M	404M	470M	549M	513M
Other Current Liabilities	580M	750M	923M	881M	1.09B
Total Current Liabilities	17.95B	16.78B	18.23B	20.39B	21.83B
Long-Term Debt	4.29B	3.65B	3.45B	2.99B	2.46B
Long-Term Leases	2.2B	1.85B	1.8B	2.2B	1.99B
Pension & Other Post Retirement Benefits	277M	290M	272M	244M	265M
Deferred Tax Liability Non Current	413M	247M	274M	219M	98M
Other Non Current Liabilities	149M	178M	271M	260M	319M
Total Liabilities	25.27B	23B	24.29B	26.3B	26.97B
Common Stock, Total	96M	99M	101M	102M	102M
Additional Paid In Capital	-	-	-	4.04B	-
Comprehensive Income and Other	7.3B	7.08B	8.49B	5.5B	9.69B
Total Common Equity	7.4B	7.18B	8.59B	9.64B	9.79B
Minority Interest	-9M	-22M	-33M	-35M	-40M
Total Equity	7.39B	7.16B	8.56B	9.6B	9.75B
Total Liabilities And Equity	32.66B	30.16B	32.85B	35.9B	36.72B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	237M	240M	250M	252M	251M
ECS Total Common Shares Outstanding	237M	240M	250M	252M	251M
Book Value / Share	31.23	29.95	34.41	38.24	39.06
Tangible Book Value	-6.21B	-5.18B	-4.55B	-4.16B	-3.59B
Tangible Book Value Per Share	-26.19	-21.62	-18.23	-16.5	-14.34
Total Debt	8.69B	6.74B	5.84B	6.56B	5.7B
Net Debt	5.27B	3.04B	2.18B	1.94B	1.45B
Debt Equivalent of Unfunded Proj. Benefit Obligation	224M	228M	198M	178M	215M
Debt Equivalent Oper. Leases	-	-	-	544M	320M
Minority Interest, Total (Incl. Fin. Div)	-9M	-22M	-33M	-35M	-40M
Equity Method Investments, Total	32M	24M	25M	55M	46M
Account Code - Inventory Valuation	3	3	3	3	3
Inventories - Work In Process, Total	-	-	-	-	211M
Inventories - Others	413M	243M	285M	345M	153M
Land - (BS)	166M	167M	167M	167M	169M
Machinery, Total	1.27B	1.09B	1.13B	1.17B	1.11B
Full Time Employees	77.16K	74.23K	87.29K	96.36K	102K
Part Time Employees	-	-	-	1.67K	1.65K
Assets under Capital Lease - Gross	-	-	-	-	-
Assets under Capital Lease - Accumulated Depreciation	-	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	112M	152M	193M	183M	185M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	841M	576M	1.03B	1.22B	1.31B
Depreciation & Amortization - CF	547M	545M	388M	467M	426M
Amortization of Goodwill and Intangible Assets - (CF)	123M	244M	161M	171M	169M
Depreciation & Amortization, Total	670M	789M	549M	638M	595M
Amortization of Deferred Charges, Total - (CF)	87M	150M	184M	184M	155M
(Gain) Loss From Sale Of Asset	-5M	-6M	28M	103M	-1M
(Gain) Loss on Sale of Investments - (CF)	25M	-	-	-	-
Asset Writedown & Restructuring Costs	202M	241M	122M	109M	153M
(Income) Loss On Equity Investments - (CF)	5M	1M	-	-5M	-6M
Stock-Based Compensation (CF)	49M	55M	52M	64M	85M
Other Operating Activities, Total	74M	113M	46M	107M	-236M
Change In Accounts Receivable	-529M	-24M	-1.22B	-710M	-2.3B
Change In Inventories	-14M	139M	-23M	-46M	-22M
Change In Accounts Payable	937M	932M	1.02B	751M	2.32B
Cash from Operations	2.34B	2.97B	1.79B	2.42B	2.05B
Capital Expenditure	-232M	-167M	-139M	-198M	-180M
Sale of Property, Plant, and Equipment	7M	12M	3M	4M	2M
Cash Acquisitions	-4.14B	-146M	-276M	-523M	-194M
Divestitures	88M	1M	3M	-43M	11M
Investment in Marketable and Equity Securities, Total	20M	-9M	4M	11M	13M
Cash from Investing	-4.26B	-309M	-405M	-749M	-348M
Long-Term Debt Issued, Total	3.41B	2M	9M	-	5M
Total Debt Issued	3.41B	2M	9M	-	5M
Long-Term Debt Repaid, Total	-888M	-1.69B	-1.16B	-327M	-846M
Total Debt Repaid	-888M	-1.69B	-1.16B	-327M	-846M
Issuance of Common Stock	7M	8M	-	41M	-
Repurchase of Common Stock	-	-	-127M	-	-189M
Common Dividends Paid	-285M	-102M	-227M	-83.2M	-726M
Common & Preferred Stock Dividends Paid	-285M	-102M	-227M	-83.2M	-726M
Special Dividend Paid	-	-	-	-520M	-
Other Financing Activities, Total	-118M	-210M	-173M	-111M	1M
Cash from Financing	2.13B	-1.99B	-1.68B	-1B	-1.76B
Foreign Exchange Rate Adjustments	4M	-379M	238M	300M	-311M
Net Change in Cash	215M	290M	-50M	968M	-366M
Supplemental Items
Cash Interest Paid	173M	261M	176M	188M	178M
Cash Income Tax Paid (Refund)	349M	293M	362M	430M	669M
Levered Free Cash Flow	1.62B	2.35B	1.61B	2.2B	1.67B
Unlevered Free Cash Flow	1.75B	2.52B	1.72B	2.33B	1.8B
Change In Net Working Capital	-151M	-776M	-54M	-354M	237M
Net Debt Issued / Repaid	2.52B	-1.68B	-1.15B	-327M	-841M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	3.42	2.92	3.25	3.75	3.8
Return on Total Capital	7.33	6.11	7.23	8.43	8.72
Return On Equity %	11.85	7.85	13.18	13.46	13.67
Return on Common Equity	11.8	7.9	13.02	13.41	13.51
Margin Analysis
Gross Profit Margin %	45.78	43.7	43.89	42.74	43.23
SG&A Margin	-	-	-	-	-
EBITDA Margin %	17.29	17.23	16.48	16.72	16.92
EBITA Margin %	15.99	15.84	15.32	15.72	16.05
EBIT Margin %	14.87	13.58	13.95	14.52	14.9
Income From Continuing Operations Margin %	7.67	5.29	8.83	8.61	8.93
Net Income Margin %	7.64	5.34	8.75	8.61	8.86
Net Avail. For Common Margin %	7.64	5.34	8.75	8.61	8.86
Normalized Net Income Margin	8.77	7.42	7.79	8.58	9.18
Levered Free Cash Flow Margin	14.71	21.83	13.69	15.51	11.3
Unlevered Free Cash Flow Margin	15.88	23.35	14.68	16.41	12.14
Asset Turnover
Asset Turnover	0.37	0.34	0.37	0.41	0.41
Fixed Assets Turnover	4.24	4.22	5.37	6.36	6.47
Receivables Turnover (Average Receivables)	1.04	1	1.03	1.11	1.06
Inventory Turnover (Average Inventory)