Cash flow SSP Group plc

Equities

SSPG

GB00BGBN7C04

Restaurants & Bars

Real-time Estimate Cboe Europe Other stock markets 16:23:26 10/09/2024 BST			5-day change	1st Jan Change
160.55 ^GBX	-0.90%		-6.48%	-31.81%

09-05	Morgan Stanley Downgrades SSP Group to Equalweight, Cuts PT	MT
07-10	FTSE 100 edges up before Powell testifies again	AN

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Published financial data: SSP GROUP PLC

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: September	2019	2020	2021	2022	2023
Revenues	2.79B	1.43B	834M	2.19B	3.01B
Total Revenues	2.79B	1.43B	834M	2.19B	3.01B
Cost of Goods Sold, Total	2.17B	1.1B	684M	1.6B	2.15B
Gross Profit	627M	334M	151M	587M	858M
Selling General & Admin Expenses, Total	300M	230M	140M	292M	348M
Depreciation & Amortization - (IS)	98.3M	410M	337M	268M	301M
Amortization of Goodwill and Intangible Assets - (IS)	8.9M	10.6M	11.7M	13.8M	9.7M
Other Operating Expenses	-	-300K	-14.2M	-61.5M	-
Other Operating Expenses, Total	408M	651M	474M	513M	658M
Operating Income	219M	-317M	-324M	74.2M	200M
Interest Expense, Total	-18.1M	-52.6M	-67.7M	-83.3M	-103M
Interest And Investment Income	2.3M	2.5M	2.3M	3.9M	11.5M
Net Interest Expenses	-15.8M	-50.1M	-65.4M	-79.4M	-91.4M
Income (Loss) On Equity Invest.	4.1M	-2.4M	2.3M	6.6M	500K
Currency Exchange Gains (Loss)	-2.3M	-300K	300K	-3.3M	5M
Other Non Operating Income (Expenses)	-8M	-5.5M	4.9M	29.6M	9.9M
EBT, Excl. Unusual Items	197M	-375M	-382M	27.7M	124M
Restructuring Charges	-	-22.7M	-21.3M	-2.9M	-8.6M
Merger & Related Restructuring Charges	-	-600K	-	-	-
Impairment of Goodwill	-	-33M	-26.4M	-	-12.5M
Gain (Loss) On Sale Of Assets	-	-	-	-	-
Asset Writedown	-	-82.8M	-24.4M	-18.2M	-5.6M
Other Unusual Items	-	88.5M	42.7M	18.6M	-9M
EBT, Incl. Unusual Items	197M	-426M	-411M	25.2M	88.1M
Income Tax Expense	43.7M	-28.1M	-48.9M	15.3M	32M
Earnings From Continuing Operations	154M	-398M	-362M	9.9M	56.1M
Net Income to Company	154M	-398M	-362M	9.9M	56.1M
Minority Interest	-26.6M	22.7M	5M	-20.1M	-48M
Net Income - (IS)	127M	-375M	-357M	-10.2M	8.1M
Net Income to Common Incl Extra Items	127M	-375M	-357M	-10.2M	8.1M
Net Income to Common Excl. Extra Items	127M	-375M	-357M	-10.2M	8.1M
Per Share Items
Net EPS - Basic	0.28	-0.76	-0.51	-0.01	0.01
Basic EPS - Continuing Operations	0.28	-0.76	-0.51	-0.01	0.01
Basic Weighted Average Shares Outstanding	452M	492M	697M	796M	796M
Net EPS - Diluted	0.28	-0.76	-0.51	-0.01	0.01
Diluted EPS - Continuing Operations	0.28	-0.76	-0.51	-0.01	0.01
Diluted Weighted Average Shares Outstanding	458M	492M	697M	796M	806M
Normalized Basic EPS	0.21	-0.43	-0.34	-0	0.04
Normalized Diluted EPS	0.21	-0.43	-0.34	-0	0.04
Dividend Per Share	0.12	-	-	-	0.02
Payout Ratio	40.19	-7.15	-	-	-
Supplemental Items
EBITDA	320M	-203M	-230M	173M	307M
EBITA	222M	-314M	-321M	75.2M	201M
EBIT	219M	-317M	-324M	74.2M	200M
EBITDAR	872M	-53.9M	-134M	472M	704M
Effective Tax Rate - (Ratio)	22.16	6.6	11.89	60.71	36.32
Total Current Taxes	46.3M	100K	-1.6M	11.6M	23.1M
Total Deferred Taxes	-2.6M	-28.2M	-47.3M	3.7M	8.9M
Normalized Net Income	96.65M	-212M	-234M	-2.79M	29.38M
Interest on Long-Term Debt	-	27.8M	28.4M	37.9M	53.1M
Non-Cash Pension Expense	200K	200K	200K	200K	-200K
Supplemental Operating Expense Items
General and Administrative Expenses	-	-	800K	-	-
Net Rental Expense, Total	552M	149M	96.4M	299M	397M
Imputed Operating Lease Interest Expense	132M	42.54M	23.27M	101M	191M
Imputed Operating Lease Depreciation	420M	107M	73.13M	198M	206M
Stock-Based Comp., COGS (Total)	8.2M	2M	1.8M	4.5M	6.1M
Stock-Based Comp., Other (Total)	-	100K	-	-	200K
Total Stock-Based Compensation	8.2M	2.1M	1.8M	4.5M	6.3M

Fiscal Period: September	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	233M	185M	774M	544M	303M
Total Cash And Short Term Investments	233M	185M	774M	544M	303M
Accounts Receivable, Total	66.1M	18.8M	27.2M	32.2M	45M
Other Receivables	64.9M	72.6M	76.1M	99.4M	86.1M
Total Receivables	131M	91.4M	103M	132M	131M
Inventory	38.7M	23.5M	23.7M	37M	42.4M
Prepaid Expenses	75.2M	44M	30.4M	11.9M	33.5M
Total Current Assets	478M	344M	931M	724M	510M
Gross Property Plant And Equipment	1.16B	2.49B	2.19B	2.12B	2.38B
Accumulated Depreciation	-689M	-778M	-800M	-911M	-858M
Net Property Plant And Equipment	466M	1.71B	1.39B	1.21B	1.52B
Long-term Investments	17.3M	12.2M	12M	17M	16.2M
Goodwill	648M	626M	582M	598M	562M
Other Intangibles, Total	99.1M	105M	102M	104M	119M
Deferred Tax Assets Long-Term	28.2M	49.8M	93.2M	89M	91M
Other Long-Term Assets, Total	54.3M	73.8M	69.7M	85.5M	81.2M
Total Assets	1.79B	2.92B	3.18B	2.82B	2.9B
Liabilities
Accounts Payable, Total	147M	92.1M	84.8M	93M	116M
Accrued Expenses, Total	208M	213M	281M	439M	428M
Short-term Borrowings	-	124M	298M	-	-
Current Portion of Long-Term Debt	128M	34.3M	6.5M	68.8M	12.6M
Current Portion of Leases	600K	289M	300M	216M	252M
Current Income Taxes Payable	30.9M	20.9M	24.9M	18.5M	23.3M
Unearned Revenue Current, Total	-	-	5.3M	3.5M	3.4M
Other Current Liabilities	202M	106M	166M	209M	218M
Total Current Liabilities	716M	880M	1.17B	1.05B	1.05B
Long-Term Debt	592M	723M	779M	771M	683M
Long-Term Leases	600K	1.06B	873M	638M	776M
Pension & Other Post Retirement Benefits	19.6M	18.6M	14.9M	10.8M	10.5M
Deferred Tax Liability Non Current	13.7M	10.4M	9.5M	6.9M	19.8M
Other Non Current Liabilities	34M	25.4M	28.7M	37.3M	32M
Total Liabilities	1.38B	2.72B	2.87B	2.51B	2.58B
Common Stock, Total	4.8M	5.8M	8.6M	8.6M	8.6M
Additional Paid In Capital	461M	473M	473M	473M	473M
Retained Earnings	-152M	-560M	-250M	-248M	-238M
Comprehensive Income and Other	14.1M	211M	8.9M	-7.8M	-17M
Total Common Equity	328M	130M	240M	225M	226M
Minority Interest	87.6M	71.9M	70.4M	86M	95.9M
Total Equity	416M	202M	311M	311M	322M
Total Liabilities And Equity	1.79B	2.92B	3.18B	2.82B	2.9B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	445M	537M	795M	796M	796M
ECS Total Common Shares Outstanding	445M	537M	795M	796M	796M
Book Value / Share	0.74	0.24	0.3	0.28	0.28
Tangible Book Value	-419M	-601M	-444M	-477M	-455M
Tangible Book Value Per Share	-0.94	-1.12	-0.56	-0.6	-0.57
Total Debt	721M	2.23B	2.26B	1.69B	1.72B
Net Debt	488M	2.05B	1.48B	1.15B	1.42B
Debt Equivalent of Unfunded Proj. Benefit Obligation	7.7M	6.8M	3.7M	-6.7M	-1.2M
Debt Equivalent Oper. Leases	4.41B	1.19B	771M	2.39B	3.17B
Minority Interest, Total (Incl. Fin. Div)	87.6M	71.9M	70.4M	86M	95.9M
Equity Method Investments, Total	17.3M	12.2M	12M	17M	16.2M
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Finished Goods, Total	33.4M	19.3M	20.1M	30.5M	36.4M
Inventories - Others	5.3M	4.2M	3.6M	6.5M	6M
Land - (BS)	284M	301M	298M	379M	414M
Machinery, Total	872M	914M	891M	1B	1.03B
Full Time Employees	40.65K	21.8K	23K	35K	42K
Accumulated Allowance for Doubtful Accounts (Supple)	6.2M	9.5M	10.1M	12.1M	9.5M

Fiscal Period: September	2019	2020	2021	2022	2023
Net Income	127M	-375M	-357M	-10.2M	8.1M
Depreciation & Amortization - CF	98.3M	416M	337M	268M	301M
Amortization of Goodwill and Intangible Assets - (CF)	2.7M	2.8M	2.5M	1M	900K
Depreciation & Amortization, Total	101M	419M	339M	269M	302M
Amortization of Deferred Charges, Total - (CF)	6.2M	7.8M	9.2M	12.8M	8.8M
(Gain) Loss From Sale Of Asset	-	-	3.7M	-	-
(Gain) Loss on Sale of Investments - (CF)	-	-	-	-	6.7M
Asset Writedown & Restructuring Costs	-	110M	50.8M	18.2M	18.1M
(Income) Loss On Equity Investments - (CF)	-4.1M	2.4M	-2.3M	-6.6M	-7.2M
Stock-Based Compensation (CF)	8.2M	2M	1.8M	4.5M	5.7M
Other Operating Activities, Total	59.3M	-94.5M	-54.7M	5.5M	132M
Change In Accounts Receivable	-30.4M	77.2M	7.6M	-45.9M	-12.2M
Change In Inventories	-3.6M	15.5M	-200K	-13.3M	-5.3M
Change In Accounts Payable	37.7M	-162M	133M	198M	22.4M
Cash from Operations	301M	2.4M	130M	432M	479M
Capital Expenditure	-176M	-120M	-65.7M	-146M	-220M
Cash Acquisitions	-3.4M	-21.5M	-	-1.4M	-41.2M
Divestitures	-	-	-100K	-	-
Sale (Purchase) of Intangible assets	-18.1M	-17.3M	-8.9M	-13.6M	-22.6M
Investment in Marketable and Equity Securities, Total	-3M	-	-	-	-
Other Investing Activities, Total	7.6M	6M	4M	6.5M	18.8M
Cash from Investing	-193M	-153M	-70.7M	-154M	-265M
Short Term Debt Issued, Total	-	125M	175M	8.6M	-
Long-Term Debt Issued, Total	267M	134M	28M	1M	-
Total Debt Issued	267M	259M	203M	9.6M	-
Short Term Debt Repaid, Total	-	-	-	-	-1.2M
Long-Term Debt Repaid, Total	-35.2M	-270M	-63M	-442M	-293M
Total Debt Repaid	-35.2M	-270M	-63M	-442M	-295M
Issuance of Common Stock	-	227M	475M	-	-
Repurchase of Common Stock	-	-1.7M	-	-	-
Common Dividends Paid	-51M	-26.8M	-	-	-
Common & Preferred Stock Dividends Paid	-51M	-26.8M	-	-	-
Special Dividend Paid	-150M	-	-	-	-
Other Financing Activities, Total	-57.9M	-79.9M	-80.9M	-90M	-146M
Cash from Financing	-26.6M	108M	534M	-522M	-441M
Foreign Exchange Rate Adjustments	3.7M	-5.2M	-5.2M	14.6M	-13.4M
Net Change in Cash	85.5M	-48.3M	589M	-230M	-240M
Supplemental Items
Cash Interest Paid	18.5M	49.8M	63.3M	80.6M	111M
Cash Income Tax Paid (Refund)	37.1M	11M	-1.1M	2.3M	19.6M
Levered Free Cash Flow	55.59M	-8.74M	162M	299M	136M
Unlevered Free Cash Flow	66.9M	24.14M	204M	351M	200M
Change In Net Working Capital	-8.5M	69.2M	-131M	-178M	-800K
Net Debt Issued / Repaid	232M	-11.2M	140M	-432M	-295M

Fiscal Period: September	2019	2020	2021	2022	2023
Profitability
Return on Assets	8.19	-8.41	-6.64	1.54	4.37
Return on Total Capital	13.14	-11.1	-8.1	2.03	6.16
Return On Equity %	35.13	-128.79	-141.33	3.18	17.72
Return on Common Equity	36.03	-163.72	-192.93	-4.38	3.59
Margin Analysis
Gross Profit Margin %	22.43	23.31	18.05	26.85	28.51
SG&A Margin	10.75	16.08	16.83	13.38	11.55
EBITDA Margin %	11.46	-14.17	-27.63	7.92	10.21
EBITA Margin %	7.94	-21.92	-38.53	3.44	6.67
EBIT Margin %	7.84	-22.11	-38.83	3.4	6.64
Income From Continuing Operations Margin %	5.49	-27.75	-43.43	0.45	1.86
Net Income Margin %	4.54	-26.17	-42.83	-0.47	0.27
Net Avail. For Common Margin %	4.54	-26.17	-42.83	-0.47	0.27
Normalized Net Income Margin	3.46	-14.78	-28.01	-0.13	0.98
Levered Free Cash Flow Margin	1.99	-0.61	19.39	13.66	4.52
Unlevered Free Cash Flow Margin	2.39	1.68	24.46	16.04	6.65
Asset Turnover
Asset Turnover	1.67	0.61	0.27	0.73	1.05
Fixed Assets Turnover	6.67	1.32	0.54	1.68	2.21
Receivables Turnover (Average Receivables)	42.41	33.76	36.27	73.58	77.97
Inventory Turnover (Average Inventory)	58.75	35.34	28.97	52.67	54.2
Short Term Liquidity
Current Ratio	0.67	0.39	0.8	0.69	0.48
Quick Ratio	0.51	0.31	0.75	0.64	0.41
Operating Cash Flow to Current Liabilities