Cash flow Thai Union Group

Equities

TU

TH0450010Y08

Food Processing

End-of-day quote Thailand S.E. Other stock markets 17/09/2024			5-day change	1st Jan Change
15.20 ^THB	0.00%		-1.30%	+1.33%

08-08	Transcript : Thai Union Group Public Company Limited, Q2 2024 Earnings Call, Aug 08, 2024
08-07	Thai Union Group Public Company Limited Updates on Significant Loan Arrangement	CI

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Published financial data: THAI UNION GROUP

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	126B	132B	141B	156B	136B
Other Revenues, Total	-	-	-	-	-
Total Revenues	126B	132B	141B	156B	136B
Cost of Goods Sold, Total	106B	109B	115B	129B	113B
Gross Profit	20.11B	23.42B	25.73B	27.02B	23.22B
Selling General & Admin Expenses, Total	16.27B	15.37B	17.31B	18.99B	16.31B
Other Operating Expenses	-647M	-1.65B	36.03M	195M	80.1M
Other Operating Expenses, Total	15.62B	13.72B	17.34B	19.19B	16.39B
Operating Income	4.49B	9.7B	8.38B	7.83B	6.83B
Interest Expense, Total	-1.9B	-1.71B	-1.71B	-1.93B	-2.12B
Interest And Investment Income	324M	85.64M	52.95M	69.5M	232M
Net Interest Expenses	-1.58B	-1.62B	-1.66B	-1.86B	-1.88B
Income (Loss) On Equity Invest.	591M	-527M	-269M	-1.03B	679M
Currency Exchange Gains (Loss)	54.06M	-24.45M	1.64B	512M	336M
Other Non Operating Income (Expenses)	1.05B	-15.79M	1.11B	1.14B	72.24M
EBT, Excl. Unusual Items	4.61B	7.51B	9.21B	6.59B	6.04B
Restructuring Charges	-	-	-	103M	-
Impairment of Goodwill	-	-	-165M	-76.8M	-
Gain (Loss) On Sale Of Investments	-139M	-	-	-30.49M	-204M
Gain (Loss) On Sale Of Assets	-38.12M	-2.7M	-34.59M	-17.61M	-18.59M
Other Unusual Items	-	-228M	-	-	-
EBT, Incl. Unusual Items	4.43B	7.28B	9.01B	6.56B	5.81B
Income Tax Expense	158M	724M	742M	-840M	-620M
Earnings From Continuing Operations	4.27B	6.56B	8.27B	7.4B	6.43B
Earnings Of Discontinued Operations	-102M	-46.22M	-	-	-19.63B
Net Income to Company	4.17B	6.51B	8.27B	7.4B	-13.2B
Minority Interest	-352M	-263M	-259M	-265M	-733M
Net Income - (IS)	3.82B	6.25B	8.01B	7.14B	-13.93B
Preferred Dividend and Other Adjustments	-	301M	300M	300M	300M
Net Income to Common Incl Extra Items	3.82B	5.95B	7.71B	6.84B	-14.23B
Net Income to Common Excl. Extra Items	3.92B	5.99B	7.71B	6.84B	5.4B
Per Share Items
Net EPS - Basic	0.8	1.26	1.66	1.47	-3.15
Basic EPS - Continuing Operations	0.82	1.27	1.66	1.47	1.19
Basic Weighted Average Shares Outstanding	4.77B	4.71B	4.66B	4.66B	4.52B
Net EPS - Diluted	0.8	1.26	1.66	1.47	-3.15
Diluted EPS - Continuing Operations	0.82	1.27	1.66	1.47	1.19
Diluted Weighted Average Shares Outstanding	4.77B	4.71B	4.66B	4.66B	4.52B
Normalized Basic EPS	0.53	0.94	1.18	0.83	0.67
Normalized Diluted EPS	0.53	0.94	1.18	0.83	0.67
Dividend Per Share	0.47	0.72	0.95	0.84	0.54
Payout Ratio	50.02	45.46	53	62.9	-26.44
American Depositary Receipts Ratio (ADR)	1	1	1	1	1
Supplemental Items
EBITDA	7.51B	12.88B	11.78B	11.28B	10.12B
EBITA	4.57B	9.79B	8.49B	7.93B	6.91B
EBIT	4.49B	9.7B	8.38B	7.83B	6.83B
EBITDAR	7.64B	12.98B	11.89B	11.56B	10.37B
Total Revenues (As Reported)	-	-	-	-	-
Effective Tax Rate - (Ratio)	3.57	9.94	8.23	-12.79	-10.67
Total Current Taxes	566M	753M	708M	986M	744M
Total Deferred Taxes	-358M	-29.1M	33.94M	-1.83B	-1.36B
Normalized Net Income	2.53B	4.43B	5.5B	3.85B	3.04B
Interest Capitalized	-	-	-	-	-
Interest on Long-Term Debt	100M	92.14M	96.81M	107M	108M
Non-Cash Pension Expense	271M	65.29M	130M	62.27M	88.94M
Supplemental Operating Expense Items
Selling and Marketing Expenses	7.21B	7.57B	9.29B	11.1B	8.74B
General and Administrative Expenses	9.06B	7.79B	8.01B	7.89B	7.57B
Research And Development Expense From Footnotes	75.73M	163M	106M	103M	74.61M
Net Rental Expense, Total	131M	92.86M	108M	278M	242M
Imputed Operating Lease Interest Expense	31.74M	21.19M	22.67M	64.76M	62.58M
Imputed Operating Lease Depreciation	98.92M	71.67M	85.34M	213M	180M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	4.69B	6.29B	9.02B	12.24B	14.49B
Short Term Investments	-	-	700M	788M	1.96B
Trading Asset Securities, Total	358M	803M	217M	888M	566M
Total Cash And Short Term Investments	5.05B	7.09B	9.94B	13.92B	17.02B
Accounts Receivable, Total	12.53B	11.31B	12.57B	14.48B	13.38B
Other Receivables	1.91B	1.49B	2.58B	2.81B	2.2B
Notes Receivable	133M	8.94M	13.79M	79.89M	101M
Total Receivables	14.57B	12.81B	15.16B	17.37B	15.68B
Inventory	36.87B	38.55B	46.64B	52.62B	50.48B
Prepaid Expenses	523M	597M	725M	492M	529M
Other Current Assets, Total	2.53B	1.42B	2.4B	3.23B	2.12B
Total Current Assets	59.55B	60.46B	74.86B	87.62B	85.83B
Gross Property Plant And Equipment	54.8B	58.22B	58.39B	62.15B	65.36B
Accumulated Depreciation	-27.37B	-30.19B	-30.03B	-32.13B	-33.98B
Net Property Plant And Equipment	27.44B	28.03B	28.36B	30.02B	31.39B
Long-term Investments	21.79B	21.75B	29.08B	29.15B	11.4B
Goodwill	12.39B	13.41B	13.5B	13.06B	13.52B
Other Intangibles, Total	15.51B	16.54B	16.89B	16.2B	16.34B
Loans Receivable Long-Term	241M	601K	668K	691K	-
Deferred Tax Assets Long-Term	1.97B	2.06B	2.35B	4.07B	5.4B
Other Long-Term Assets, Total	3.03B	2.33B	1.56B	2.44B	1.58B
Total Assets	142B	145B	167B	183B	165B
Liabilities
Accounts Payable, Total	11.84B	10.77B	12.23B	13.71B	10.76B
Accrued Expenses, Total	6.85B	7.65B	8.4B	7.37B	7.1B
Short-term Borrowings	11.28B	13.47B	9.67B	9.71B	8.59B
Current Portion of Long-Term Debt	3.67B	7.97B	14.72B	2.28B	20.03B
Current Portion of Leases	387M	414M	351M	470M	437M
Current Income Taxes Payable	548M	393M	399M	514M	517M
Other Current Liabilities	1.24B	3.35B	2.31B	2.76B	3.05B
Total Current Liabilities	35.81B	44.01B	48.08B	36.82B	50.47B
Long-Term Debt	44.41B	36.46B	45.83B	47.84B	40B
Long-Term Leases	963M	787M	809M	862M	730M
Pension & Other Post Retirement Benefits	2.55B	2.7B	3.19B	3.02B	3.16B
Deferred Tax Liability Non Current	4B	4.41B	4.74B	4.55B	4.71B
Other Non Current Liabilities	2.39B	469M	1.74B	1.35B	359M
Total Liabilities	90.11B	88.84B	104B	94.44B	99.43B
Common Stock, Total	1.19B	1.19B	1.19B	1.19B	1.16B
Additional Paid In Capital	19.95B	19.95B	19.95B	19.95B	19.95B
Retained Earnings	31.51B	34.9B	38.45B	41.3B	22.02B
Treasury Stock	-	-1.52B	-1.52B	-1.52B	-2.98B
Comprehensive Income and Other	-4.23B	-2.34B	1.25B	19.72B	18.48B
Total Common Equity	48.42B	52.19B	59.32B	80.64B	58.63B
Minority Interest	3.37B	3.55B	2.89B	7.49B	7.39B
Total Equity	51.79B	55.74B	62.21B	88.13B	66.02B
Total Liabilities And Equity	142B	145B	167B	183B	165B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	4.77B	4.65B	4.65B	4.65B	4.46B
ECS Total Common Shares Outstanding	4.77B	4.65B	4.65B	4.65B	4.46B
Book Value / Share	8.9	9.93	11.47	16.05	11.82
Tangible Book Value	20.52B	22.24B	28.93B	51.38B	28.77B
Tangible Book Value Per Share	3.05	3.5	4.94	9.76	5.12
Total Debt	60.7B	59.09B	71.38B	61.17B	69.79B
Net Debt	55.66B	52B	61.44B	47.25B	52.77B
Debt Equivalent of Unfunded Proj. Benefit Obligation	2.55B	2.7B	3.19B	3.02B	3.16B
Debt Equivalent Oper. Leases	1.05B	743M	864M	2.22B	1.94B
Minority Interest, Total (Incl. Fin. Div)	3.37B	3.55B	2.89B	7.49B	7.39B
Equity Method Investments, Total	10.28B	9.27B	12.77B	12.18B	9.34B
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	10.83B	10.94B	12.91B	16.3B	15.04B
Inventories - Work In Process, Total	382M	312M	548M	901M	1.35B
Inventories - Finished Goods, Total	25.33B	27.94B	33.82B	36.35B	35.43B
Inventories - Others	327M	592M	628M	789M	844M
Land - (BS)	2.99B	3.41B	3.16B	3.43B	3.51B
Buildings, Total	17.09B	18.45B	18.21B	19.18B	20.02B
Machinery, Total	30.35B	32.83B	32.03B	33.43B	34.96B
Full Time Employees	14.32K	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	313M	272M	300M	453M	332M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	3.82B	6.25B	8.01B	7.14B	-13.93B
Depreciation & Amortization - CF	3.38B	3.58B	3.77B	3.92B	3.79B
Amortization of Goodwill and Intangible Assets - (CF)	75.15M	90.33M	104M	98.82M	80.71M
Depreciation & Amortization, Total	3.46B	3.67B	3.87B	4.02B	3.87B
Amortization of Deferred Charges, Total - (CF)	259M	315M	351M	345M	366M
(Gain) Loss From Sale Of Asset	63.96M	275M	149M	40.09M	2.33B
(Gain) Loss on Sale of Investments - (CF)	-649M	-836M	-1.04B	24.98M	15.6B
Asset Writedown & Restructuring Costs	674M	56.1M	262M	-35.64M	91.07M
Provision for Credit Losses	906K	-	-	-	100M
(Income) Loss On Equity Investments - (CF)	-591M	527M	269M	1.03B	540M
Provision and Write-off of Bad Debts	-22.77M	-46.8M	-	196M	58.86M
Net Cash From Discontinued Operations	-116M	-46.22M	-	-	-19.63B
Other Operating Activities, Total	4.41B	2.85B	1.75B	664M	22.18B
Change In Accounts Receivable	231M	1.86B	-2.34B	-1.62B	1.57B
Change In Inventories	-128M	-1.04B	-6.34B	-6.3B	1.97B
Change In Accounts Payable	571M	-464M	1.5B	741M	-3.32B
Change in Other Net Operating Assets	-224M	73.89M	-168M	-372M	-543M
Cash from Operations	11.76B	13.43B	6.29B	5.87B	11.24B
Capital Expenditure	-4.6B	-3.85B	-4.17B	-5.34B	-4.92B
Sale of Property, Plant, and Equipment	113M	129M	443M	301M	182M
Cash Acquisitions	-164M	-	-	-	-
Divestitures	-	-	-	208K	-
Sale (Purchase) of Intangible assets	-	-	-	-	-
Investment in Marketable and Equity Securities, Total	48.62M	-134M	-4.62B	-605M	-2.12B
Net (Increase) Decrease in Loans Originated / Sold - Investing	-321M	-	-	-	-
Other Investing Activities, Total	443M	124M	244M	229M	279M
Cash from Investing	-4.49B	-3.74B	-8.1B	-5.41B	-6.58B
Short Term Debt Issued, Total	2.93M	2.1B	45.95M	56.93M	-
Long-Term Debt Issued, Total	6B	4.3M	23.31B	4.18B	11.56B
Total Debt Issued	6B	2.11B	23.35B	4.23B	11.56B
Short Term Debt Repaid, Total	-1.95B	-37M	-3.86B	-6.05M	-1.17B
Long-Term Debt Repaid, Total	-9.73B	-4.08B	-8.46B	-15.5B	-2.72B
Total Debt Repaid	-11.69B	-4.12B	-12.32B	-15.5B	-3.9B
Issuance of Common Stock	6B	-	-	-	-
Repurchase of Common Stock	-	-1.52B	-	-	-2.98B
Common Dividends Paid	-1.91B	-2.84B	-4.25B	-4.49B	-3.68B
Common & Preferred Stock Dividends Paid	-1.91B	-2.84B	-4.25B	-4.49B	-3.68B
Other Financing Activities, Total	-2.44B	-1.83B	-2.2B	18.5B	-3.41B
Cash from Financing	-4.03B	-8.2B	4.58B	2.74B	-2.4B
Foreign Exchange Rate Adjustments	-69.08M	42.31M	37.82M	-4.14M	-46.82M
Net Change in Cash	3.17B	1.54B	2.81B	3.19B	2.21B
Supplemental Items
Cash Interest Paid	1.95B	1.75B	1.59B	2B	2.14B
Cash Income Tax Paid (Refund)	-56.77M	668M	883M	960M	807M
Levered Free Cash Flow	3.42B	7.93B	-6.15B	-5.06B	4.21B
Unlevered Free Cash Flow	4.58B	8.97B	-5.12B	-3.89B	5.49B
Change In Net Working Capital	-2.69B	-2.81B	10.37B	7.77B	-1.96B
Net Debt Issued / Repaid	-5.68B	-2.01B	11.03B	-11.27B	7.67B

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	1.98	4.23	3.37	2.8	2.45
Return on Total Capital	2.51	5.33	4.22	3.46	3
Return On Equity %	8.69	12.19	14.03	9.85	8.35
Return on Common Equity	8.55	11.91	13.83	9.77	7.75
Margin Analysis
Gross Profit Margin %	15.93	17.69	18.24	17.37	17.06
SG&A Margin	12.88	11.61	12.27	12.21	11.98
EBITDA Margin %