Balance Sheet Synthomer plc

Equities

SYNT

GB00BNTVWJ75

Specialty Chemicals

Real-time Estimate Cboe Europe Other stock markets 16:03:19 17/09/2024 BST			5-day change	1st Jan Change
217.50 ^GBX	+1.16%		+0.69%	+14.65%

09-04	Synthomer plc Appoints Uwe Gottfried Halder as Director	CI
09-04	Synthomer plc Appoints Peter John Hill as Director	CI

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Published financial data: SYNTHOMER PLC

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	1.46B	1.64B	2.33B	2.38B	1.97B
Total Revenues	1.46B	1.64B	2.33B	2.38B	1.97B
Cost of Goods Sold, Total	1.19B	1.21B	1.62B	1.97B	1.66B
Gross Profit	274M	437M	709M	412M	307M
Selling General & Admin Expenses, Total	99.5M	183M	192M	166M	169M
Depreciation & Amortization - (IS)	52.1M	69.8M	71.3M	86.7M	104M
Amortization of Goodwill and Intangible Assets - (IS)	8.7M	30.9M	36.2M	44.8M	49.3M
Other Operating Expenses, Total	160M	284M	300M	298M	323M
Operating Income	114M	154M	410M	115M	-15.7M
Interest Expense, Total	-7.8M	-27.1M	-29.4M	-46.2M	-74.2M
Interest And Investment Income	900K	1.2M	1M	1.6M	10.2M
Net Interest Expenses	-6.9M	-25.9M	-28.4M	-44.6M	-64M
Income (Loss) On Equity Invest.	900K	1.2M	2.6M	1.7M	1.4M
Currency Exchange Gains (Loss)	3.5M	-	-	-	-
EBT, Excl. Unusual Items	111M	129M	384M	71.9M	-78.3M
Restructuring Charges	-800K	-42.5M	-29.7M	-19.2M	-14.7M
Merger & Related Restructuring Charges	-9.2M	-14.6M	-11.9M	-6.5M	-2M
Impairment of Goodwill	-	-	-	-134M	-
Gain (Loss) On Sale Of Assets	-	-6.6M	-7.4M	-300K	-300K
Asset Writedown	-	-36.6M	-	-	-5.6M
Other Unusual Items	-500K	-8.5M	-51M	46.6M	-5.9M
EBT, Incl. Unusual Items	100M	20.3M	284M	-41.2M	-107M
Income Tax Expense	14.9M	21.8M	73.9M	-15.3M	-4.5M
Earnings From Continuing Operations	85.6M	-1.5M	210M	-25.9M	-102M
Earnings Of Discontinued Operations	-	-	-	-7.1M	35.5M
Net Income to Company	85.6M	-1.5M	210M	-33M	-66.8M
Minority Interest	-1M	4.6M	-1.3M	500K	-200K
Net Income - (IS)	84.6M	3.1M	209M	-32.5M	-67M
Net Income to Common Incl Extra Items	84.6M	3.1M	209M	-32.5M	-67M
Net Income to Common Excl. Extra Items	84.6M	3.1M	209M	-25.4M	-102M
Per Share Items
Net EPS - Basic	4.3	0.15	9.66	-1.39	-0.78
Basic EPS - Continuing Operations	4.3	0.15	9.66	-1.09	-1.2
Basic Weighted Average Shares Outstanding	19.67M	21.24M	21.61M	23.37M	85.38M
Net EPS - Diluted	4.28	0.14	9.62	-1.39	-0.78
Diluted EPS - Continuing Operations	4.28	0.14	9.62	-1.09	-1.2
Diluted Weighted Average Shares Outstanding	19.77M	21.37M	21.7M	23.42M	85.63M
Normalized Basic EPS	3.48	4.02	11.04	1.94	-0.58
Normalized Diluted EPS	3.46	3.99	11	1.94	-0.57
Dividend Per Share	0.8	2.32	6	-	-
Payout Ratio	56.62	412.9	35.22	-306.15	-
American Depositary Receipts Ratio (ADR)	1	1	1	1	1
Supplemental Items
EBITDA	157M	208M	464M	191M	69.3M
EBITA	114M	154M	410M	115M	-15.7M
EBIT	114M	154M	410M	115M	-15.7M
EBITDAR	-	-	-	-	-
Effective Tax Rate - (Ratio)	14.83	107.39	26.03	37.14	4.21
Total Current Taxes	14.9M	44.4M	76.1M	20.1M	11.6M
Total Deferred Taxes	0	-22.6M	-2.2M	-34.7M	1.5M
Normalized Net Income	68.38M	85.29M	239M	45.44M	-49.14M
Interest on Long-Term Debt	1.1M	1.6M	1.5M	1.4M	1.8M
Non-Cash Pension Expense	2.7M	3.7M	2.4M	1.6M	2.7M
Supplemental Operating Expense Items
Selling and Marketing Expenses	43.8M	53.9M	55.8M	73.5M	74.5M
General and Administrative Expenses	53M	125M	134M	91.5M	92.1M
Research And Development Expense From Footnotes	16.6M	25.8M	28.9M	33.7M	34M
Net Rental Expense, Total	-	-	-	-	-
Imputed Operating Lease Interest Expense	-	-	-	-	-
Imputed Operating Lease Depreciation	-	-	-	-	-
Stock-Based Comp., Other (Total)	600K	2M	2.1M	700K	1.8M
Total Stock-Based Compensation	600K	2M	2.1M	700K	1.8M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	104M	202M	505M	228M	371M
Trading Asset Securities, Total	-	-	-	9.4M	4.3M
Total Cash And Short Term Investments	104M	202M	505M	237M	376M
Accounts Receivable, Total	163M	229M	275M	201M	148M
Other Receivables	22.3M	23.6M	25.4M	97M	68.6M
Total Receivables	185M	253M	300M	298M	216M
Inventory	122M	170M	254M	408M	344M
Prepaid Expenses	5.6M	9.5M	12.3M	7.6M	5.6M
Other Current Assets, Total	4.9M	1.4M	3.2M	214M	9.4M
Total Current Assets	421M	636M	1.08B	1.16B	951M
Gross Property Plant And Equipment	811M	1.02B	1.04B	1.29B	1.29B
Accumulated Depreciation	-406M	-499M	-528M	-539M	-586M
Net Property Plant And Equipment	405M	522M	508M	754M	706M
Long-term Investments	7.5M	6.6M	7.4M	8.1M	7.5M
Goodwill	324M	493M	487M	481M	466M
Other Intangibles, Total	78.8M	378M	344M	584M	524M
Deferred Tax Assets Long-Term	22.8M	23.8M	29.2M	50.3M	36.8M
Other Long-Term Assets, Total	-	-	-	5.9M	16.5M
Total Assets	1.26B	2.06B	2.45B	3.05B	2.71B
Liabilities
Accounts Payable, Total	187M	205M	264M	254M	272M
Accrued Expenses, Total	30.7M	89M	99.4M	96.8M	91.1M
Short-term Borrowings	-	10.5M	-	18.5M	700K
Current Portion of Long-Term Debt	-	9.6M	-	-	-
Current Portion of Leases	7.5M	10.6M	8.8M	10.6M	13.8M
Current Income Taxes Payable	38.7M	58.5M	45.2M	33.6M	28M
Other Current Liabilities	34.6M	85.6M	146M	170M	82.4M
Total Current Liabilities	298M	468M	564M	583M	488M
Long-Term Debt	82.9M	644M	620M	1.23B	870M
Long-Term Leases	34.4M	44.4M	34.7M	34.9M	41.5M
Pension & Other Post Retirement Benefits	140M	221M	122M	79.3M	81.2M
Deferred Tax Liability Non Current	30.8M	43.3M	57.5M	44.9M	33.8M
Other Non Current Liabilities	2.5M	9.6M	20.3M	40.7M	29.8M
Total Liabilities	589M	1.43B	1.42B	2.02B	1.54B
Common Stock, Total	42.5M	42.5M	46.7M	46.7M	1.6M
Additional Paid In Capital	421M	421M	620M	620M	926M
Retained Earnings	204M	192M	384M	274M	210M
Comprehensive Income and Other	-18.6M	-41M	-31.2M	76.8M	11.3M
Total Common Equity	649M	615M	1.02B	1.02B	1.15B
Minority Interest	21.1M	13.1M	13.7M	14M	13.4M
Total Equity	670M	628M	1.03B	1.03B	1.16B
Total Liabilities And Equity	1.26B	2.06B	2.45B	3.05B	2.71B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	21.24M	21.24M	23.37M	23.36M	164M
ECS Total Common Shares Outstanding	21.24M	21.24M	23.37M	23.36M	164M
Book Value / Share	30.57	28.95	43.62	43.53	7.02
Tangible Book Value	246M	-256M	188M	-48.3M	159M
Tangible Book Value Per Share	11.59	-12.05	8.06	-2.07	0.97
Total Debt	125M	719M	663M	1.3B	926M
Net Debt	21.2M	517M	158M	1.06B	551M
Debt Equivalent of Unfunded Proj. Benefit Obligation	140M	221M	122M	73.4M	64.7M
Debt Equivalent Oper. Leases	-	-	-	-	-
Minority Interest, Total (Incl. Fin. Div)	21.1M	13.1M	13.7M	14M	13.4M
Equity Method Investments, Total	7.5M	6.6M	7.4M	8.1M	7.5M
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	55.5M	78.9M	120M	185M	163M
Inventories - Finished Goods, Total	66.4M	91.4M	133M	223M	181M
Land - (BS)	26.3M	63M	59.1M	72.4M	67.2M
Buildings, Total	88.5M	127M	128M	150M	144M
Machinery, Total	637M	739M	761M	997M	970M
Full Time Employees	2.85K	4.61K	4.63K	5.2K	4.2K
Accumulated Allowance for Doubtful Accounts (Supple)	900K	1.9M	1.5M	1.6M	1.1M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	84.6M	3.1M	209M	-32.5M	-67M
Depreciation & Amortization - CF	50.7M	64.9M	64.2M	86M	96.5M
Depreciation & Amortization, Total	50.7M	64.9M	64.2M	86M	96.5M
Amortization of Deferred Charges, Total - (CF)	1.4M	4.9M	7.1M	7.9M	8.8M
(Gain) Loss From Sale Of Asset	-	6.6M	7.4M	300K	300K
Asset Writedown & Restructuring Costs	5.1M	84.7M	48.1M	172M	41.6M
(Income) Loss On Equity Investments - (CF)	-900K	-1.2M	-2.6M	-1.7M	-1.4M
Stock-Based Compensation (CF)	600K	2M	2.1M	700K	1.8M
Net Cash From Discontinued Operations	-	-	-	14.7M	-57M
Other Operating Activities, Total	-8.1M	-1.7M	21.3M	-132M	45.8M
Change In Accounts Receivable	34.3M	19.1M	-64.8M	147M	52.7M
Change In Inventories	15M	17.1M	-87.7M	-12.3M	45.7M
Change In Accounts Payable	-30.8M	-12.7M	69.7M	-116M	-17.8M
Cash from Operations	152M	187M	274M	134M	150M
Capital Expenditure	-69.1M	-53.8M	-82.2M	-90.8M	-84M
Sale of Property, Plant, and Equipment	300K	-	-	-	-
Cash Acquisitions	-	-314M	-	-760M	-18.4M
Divestitures	-	100K	1.7M	300K	208M
Other Investing Activities, Total	1.6M	1.9M	1.9M	1.9M	1.9M
Cash from Investing	-67.2M	-366M	-78.6M	-848M	108M
Long-Term Debt Issued, Total	15M	1.29B	-	733M	548M
Total Debt Issued	15M	1.29B	-	733M	548M
Long-Term Debt Repaid, Total	-223M	-1B	-9.7M	-218M	-904M
Total Debt Repaid	-223M	-1B	-9.7M	-218M	-904M
Issuance of Common Stock	199M	-	206M	-	266M
Common Dividends Paid	-47.9M	-12.8M	-73.5M	-99.5M	-
Common & Preferred Stock Dividends Paid	-47.9M	-12.8M	-73.5M	-99.5M	-
Special Dividend Paid	-	-	-	-	-
Other Financing Activities, Total	-3.1M	-3.3M	-4.2M	-1.5M	-400K
Cash from Financing	-60M	273M	118M	414M	-90.9M
Foreign Exchange Rate Adjustments	2.7M	-6.5M	600K	3.7M	-5.4M
Net Change in Cash	27.4M	87.7M	314M	-296M	161M
Supplemental Items
Cash Interest Paid	8.1M	15.2M	28.6M	39.8M	64.5M
Cash Income Tax Paid (Refund)	11.1M	31.4M	86.4M	65.6M	-9.3M
Levered Free Cash Flow	81.66M	127M	210M	-312M	239M
Unlevered Free Cash Flow	86.54M	144M	229M	-283M	285M
Change In Net Working Capital	-32M	-30.2M	18.6M	359M	-272M
Net Debt Issued / Repaid	-208M	289M	-9.7M	516M	-356M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	5.58	5.79	11.36	2.61	-0.34
Return on Total Capital	8.92	8.97	16.83	3.57	-0.44
Return On Equity %	14.82	-0.23	25.28	-2.51	-9.33
Return on Common Equity	15.2	0.49	25.54	-2.49	-9.47
Margin Analysis
Gross Profit Margin %	18.76	26.6	30.44	17.3	15.59
SG&A Margin	6.82	11.12	8.24	6.97	8.59
EBITDA Margin %	10.75	12.64	19.92	8.02	3.52
EBITA Margin %	7.78	9.35	17.59	4.82	-0.8
EBIT Margin %	7.78	9.35	17.59	4.82	-0.8
Income From Continuing Operations Margin %	5.87	-0.09	9.01	-1.09	-5.19
Net Income Margin %	5.8	0.19	8.96	-1.36	-3.4
Net Avail. For Common Margin %	5.8	0.19	8.96	-1.07	-5.2
Normalized Net Income Margin	4.69	5.19	10.24	1.91	-2.49
Levered Free Cash Flow Margin	5.6	7.75	9.03	-13.09	12.12
Unlevered Free Cash Flow Margin	5.93	8.78	9.82	-11.88	14.47
Asset Turnover
Asset Turnover	1.15	0.99	1.03	0.87	0.69
Fixed Assets Turnover	3.77	3.55	4.52	3.78	2.7
Receivables Turnover (Average Receivables)	8.13	8.39	9.24	10.01	11.3
Inventory Turnover (Average Inventory)	8.99	8.26	7.64	5.96	4.42
Short Term Liquidity
Current Ratio	1.41	1.36	1.91	2	1.95
Quick Ratio	0.97	0.97	1.43	0.92	1.21
Operating Cash Flow to Current Liabilities	0.51	0.4	0.49	0.23	0.31
Days Sales Outstanding (Average Receivables)	44.89	43.63	39.52	36.47	32.31
Days Outstanding Inventory (Average Inventory)	40.62	44.31