Cash flow Adicon Holdings Limited

Equities

9860

KYG0086A1076

Healthcare Facilities & Services

Market Closed - Hong Kong S.E. Other stock markets 01:39:08 05/12/2025 pm IST			5-day change	1st Jan Change
5.330 ^HKD	+0.95%		-2.38%	-40.91%

14/11	Adicon Unit to Acquire Crown Bioscience for Up to $204 Million; Shares Fall 8%	MT
13/11	Adicon Holdings Limited entered into a definitive agreement to acquire Crown Bioscience, Inc. from Crown Bioscience International.	CI

3962959fdbb128fd51b.0sOsT3aivmy6BVse0URwTGZs4lIlvSjcrokciSOsLvI.447YOSzR4R7yTWxSoytGCChfjxZC7FCm3dYu_EaYf7S3r-0aNMSMBuh8MA

Published financial data: ADICON HOLDINGS LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Revenues	274.17Cr	337.95Cr	486.06Cr	329.78Cr	291.41Cr
Total Revenues	274.17Cr	337.95Cr	486.06Cr	329.78Cr	291.41Cr
Cost of Goods Sold, Total	162.51Cr	193.71Cr	296.59Cr	187.97Cr	181.78Cr
Gross Profit	111.67Cr	144.24Cr	189.47Cr	141.81Cr	109.63Cr
Selling General & Admin Expenses, Total	60Cr	75Cr	84Cr	76Cr	72Cr
R&D Expenses	10Cr	13Cr	16Cr	14Cr	12Cr
Other Operating Expenses	45.87L	50.63L	62.15L	1.38Cr	1.23Cr
Other Operating Expenses, Total	70Cr	88Cr	100.45Cr	91Cr	85Cr
Operating Income	41Cr	56Cr	89Cr	50Cr	25Cr
Interest Expense, Total	-1.96Cr	-1.63Cr	-6.34Cr	-8.63Cr	-5.24Cr
Interest And Investment Income	37.65L	62.89L	88.74L	2.02Cr	2.15Cr
Net Interest Expenses	-1.59Cr	-1Cr	-5.45Cr	-6.62Cr	-3.09Cr
Currency Exchange Gains (Loss)	14.27L	-50T	-67.43L	-81.98L	75.94L
Other Non Operating Income (Expenses)	-99.64L	-2.76Cr	48.28L	-3.07Cr	63.68L
EBT, Excl. Unusual Items	39Cr	52Cr	83Cr	40Cr	23Cr
Gain (Loss) On Sale Of Investments	-3.26Cr	-3.97Cr	-11Cr	-5.79Cr	-14Cr
Gain (Loss) On Sale Of Assets	-17.29L	-29.15L	-17.52L	-37.67L	-79.18L
Other Unusual Items	24.39L	-6.15Cr	10Cr	1.15Cr	1.16Cr
EBT, Incl. Unusual Items	36Cr	42Cr	82Cr	35Cr	9.2Cr
Income Tax Expense	6.87Cr	9.49Cr	14Cr	8.7Cr	2.94Cr
Earnings From Continuing Operations	29Cr	32Cr	68Cr	26Cr	6.26Cr
Net Income to Company	29Cr	32Cr	68Cr	26Cr	6.26Cr
Minority Interest	-53.32L	-67.55L	-40.91L	-2.74Cr	-1.55Cr
Net Income - (IS)	28Cr	32Cr	68Cr	23Cr	4.7Cr
Net Income to Common Incl Extra Items	28Cr	32Cr	68Cr	23Cr	4.7Cr
Net Income to Common Excl. Extra Items	28Cr	32Cr	68Cr	23Cr	4.7Cr
Per Share Items
Net EPS - Basic	0.49	0.5	1.04	0.34	0.07
Basic EPS - Continuing Operations	0.49	0.5	1.04	0.34	0.07
Basic Weighted Average Shares Outstanding	58Cr	63Cr	65Cr	69Cr	72Cr
Net EPS - Diluted	0.48	0.5	0.96	0.31	0.07
Diluted EPS - Continuing Operations	0.48	0.5	0.96	0.31	0.07
Diluted Weighted Average Shares Outstanding	59Cr	63Cr	71Cr	72Cr	72Cr
Normalized Basic EPS	0.41	0.51	0.79	0.32	0.18
Normalized Diluted EPS	0.41	0.51	0.73	0.31	0.18
Payout Ratio	-	143.43	127.06	-	-
Supplemental Items
EBITDA	48Cr	65Cr	102.19Cr	61Cr	36Cr
EBITA	41Cr	56Cr	89Cr	51Cr	25Cr
EBIT	41Cr	56Cr	89Cr	50Cr	25Cr
EBITDAR	49Cr	66Cr	103.53Cr	63Cr	37Cr
Effective Tax Rate - (Ratio)	19.19	22.76	16.56	24.92	31.97
Total Current Taxes	8.26Cr	11Cr	18Cr	7.8Cr	5.5Cr
Total Deferred Taxes	-1.39Cr	-1.84Cr	-3.92Cr	90.96L	-2.56Cr
Normalized Net Income	24Cr	32Cr	52Cr	22Cr	13Cr
Interest on Long-Term Debt	1.08Cr	1.06Cr	1.37Cr	1.27Cr	1.18Cr
Supplemental Operating Expense Items
Selling and Marketing Expenses	36Cr	49Cr	55Cr	49Cr	47Cr
General and Administrative Expenses	24Cr	26Cr	28Cr	27Cr	25Cr
Research And Development Expense From Footnotes	10Cr	13Cr	16Cr	14Cr	12Cr
Net Rental Expense, Total	1.31Cr	1.38Cr	1.34Cr	1.71Cr	1.6Cr
Imputed Operating Lease Interest Expense	-	20.51L	46.82L	77.48L	51.92L
Imputed Operating Lease Depreciation	-	1.18Cr	87.05L	93.57L	1.08Cr
Stock-Based Comp., Other (Total)	6.36Cr	3.73Cr	1.5Cr	1.71Cr	21.51L
Total Stock-Based Compensation	6.36Cr	3.73Cr	1.5Cr	1.71Cr	21.51L

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	122.86Cr	110.92Cr	168.06Cr	96Cr	104.38Cr
Trading Asset Securities, Total	-	-	-	5.08Cr	-
Total Cash And Short Term Investments	122.86Cr	110.92Cr	168.06Cr	101.03Cr	104.38Cr
Accounts Receivable, Total	94Cr	121.38Cr	185.71Cr	151.55Cr	137.74Cr
Total Receivables	94Cr	121.38Cr	185.71Cr	151.55Cr	137.74Cr
Inventory	10Cr	11Cr	23Cr	18Cr	13Cr
Other Current Assets, Total	6.11Cr	11Cr	13Cr	60Cr	50Cr
Total Current Assets	233.49Cr	253.81Cr	389.5Cr	330.34Cr	305.07Cr
Gross Property Plant And Equipment	61Cr	76Cr	102.58Cr	109.33Cr	112.2Cr
Accumulated Depreciation	-29Cr	-32Cr	-43Cr	-49Cr	-56Cr
Net Property Plant And Equipment	32Cr	44Cr	59Cr	60Cr	56Cr
Long-term Investments	-	-	81.04L	15.35L	-
Goodwill	-	2.57Cr	7.98Cr	7.98Cr	7.98Cr
Other Intangibles, Total	30.11L	2.05Cr	14Cr	15Cr	15Cr
Accounts Receivable Long-Term	18.52L	18.16L	21.23L	24.74L	25.11L
Deferred Tax Assets Long-Term	5.2Cr	7.46Cr	12Cr	10Cr	13Cr
Other Long-Term Assets, Total	77.47L	96.45L	1.28Cr	31Cr	70Cr
Total Assets	272.35Cr	310.98Cr	485.42Cr	455.35Cr	468.5Cr
Liabilities
Accounts Payable, Total	44Cr	55Cr	112.35Cr	74Cr	72Cr
Accrued Expenses, Total	29Cr	43Cr	61Cr	46Cr	37Cr
Short-term Borrowings	12Cr	4.2Cr	6.97Cr	8.61Cr	-
Current Portion of Long-Term Debt	41.78L	71.41L	4.31Cr	97.8L	47Cr
Current Portion of Leases	2.84Cr	3.17Cr	5.14Cr	4.92Cr	6.07Cr
Current Income Taxes Payable	4.41Cr	5.03Cr	12Cr	7.78Cr	3.03Cr
Unearned Revenue Current, Total	1.17Cr	2.07Cr	2.11Cr	3.65Cr	3.11Cr
Other Current Liabilities	7.71Cr	26Cr	37Cr	30Cr	24Cr
Total Current Liabilities	100.9Cr	138.78Cr	241.84Cr	175.7Cr	192.51Cr
Long-Term Debt	54Cr	71Cr	161.25Cr	79Cr	84Cr
Long-Term Leases	13Cr	15Cr	18Cr	15Cr	12Cr
Deferred Tax Liability Non Current	15.36L	1.03Cr	2.85Cr	2.32Cr	2.27Cr
Total Liabilities	168.44Cr	225.7Cr	424.19Cr	272.49Cr	291.03Cr
Common Stock, Total	77T	86T	86T	97T	97T
Retained Earnings	73Cr	59Cr	41Cr	64Cr	69Cr
Treasury Stock	-	-	-	-	-11Cr
Comprehensive Income and Other	30Cr	21Cr	10Cr	106.67Cr	107.18Cr
Total Common Equity	102.43Cr	80Cr	51Cr	170.81Cr	164.81Cr
Minority Interest	1.48Cr	4.86Cr	10Cr	12Cr	13Cr
Total Equity	103.91Cr	85Cr	61Cr	182.86Cr	177.47Cr
Total Liabilities And Equity	272.35Cr	310.98Cr	485.42Cr	455.35Cr	468.5Cr
Supplemental Items
ECS Total Shares Outstanding on Filing Date	58Cr	63Cr	65Cr	73Cr	71Cr
ECS Total Common Shares Outstanding	58Cr	63Cr	65Cr	73Cr	71Cr
Book Value / Share	1.77	1.27	0.78	2.35	2.31
Tangible Book Value	102.13Cr	76Cr	29Cr	147.69Cr	141.42Cr
Tangible Book Value Per Share	1.77	1.2	0.44	2.03	1.98
Total Debt	82Cr	94Cr	195.92Cr	108.98Cr	149.12Cr
Net Debt	-41Cr	-17Cr	28Cr	7.96Cr	45Cr
Debt Equivalent Oper. Leases	10Cr	11Cr	11Cr	14Cr	13Cr
Minority Interest, Total (Incl. Fin. Div)	1.48Cr	4.86Cr	10Cr	12Cr	13Cr
Account Code - Inventory Valuation	-	-	5	5	5
Inventories - Raw Materials, Total	1.64Cr	1.7Cr	2.16Cr	10.42L	9L
Inventories - Finished Goods, Total	1.39Cr	68.21L	6.98Cr	6.83Cr	4.63Cr
Inventories - Others	7.27Cr	8.56Cr	14Cr	11Cr	7.97Cr
Machinery, Total	32Cr	42Cr	57Cr	64Cr	68Cr
Full Time Employees	-	-	-	5.71T	5.44T
Accumulated Allowance for Doubtful Accounts (Supple)	4.6Cr	7.51Cr	19Cr	24Cr	37Cr

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	28Cr	32Cr	68Cr	23Cr	4.7Cr
Depreciation & Amortization - CF	11Cr	14Cr	19Cr	16Cr	17Cr
Amortization of Goodwill and Intangible Assets - (CF)	9T	9L	22.32L	71.98L	79.54L
Depreciation & Amortization, Total	11Cr	14Cr	19Cr	17Cr	17Cr
Amortization of Deferred Charges, Total - (CF)	7L	8L	26.21L	12.92L	20.8L
(Gain) Loss From Sale Of Asset	19.96L	32.94L	30.52L	37.67L	1.03Cr
(Gain) Loss on Sale of Investments - (CF)	3.26Cr	3.97Cr	11Cr	5.79Cr	14Cr
Stock-Based Compensation (CF)	6.36Cr	3.73Cr	1.5Cr	1.71Cr	21.51L
Other Operating Activities, Total	3.91Cr	6.62Cr	70.54L	3.77Cr	-2.34Cr
Change In Accounts Receivable	-29Cr	-30Cr	-65Cr	28Cr	-17.32L
Change In Inventories	-2.22Cr	-45.36L	-12Cr	3.68Cr	4.73Cr
Change In Accounts Payable	12Cr	10Cr	51Cr	-38Cr	-2.12Cr
Change in Other Net Operating Assets	13Cr	17Cr	13Cr	-8.26Cr	-15Cr
Cash from Operations	48Cr	56Cr	89Cr	38Cr	23Cr
Capital Expenditure	-11Cr	-16Cr	-23Cr	-15Cr	-12Cr
Sale of Property, Plant, and Equipment	37.88L	17.82L	38.66L	59.64L	20.19L
Cash Acquisitions	-	-2.11Cr	-4.87Cr	-1.81Cr	-
Sale (Purchase) of Intangible assets	-6L	-11.15L	-6.91Cr	-1.62Cr	-25.75L
Investment in Marketable and Equity Securities, Total	-	-3Cr	-	-5.01Cr	4.68Cr
Other Investing Activities, Total	19.64L	80.9L	88.74L	75.1L	2.15Cr
Cash from Investing	-10Cr	-20Cr	-33Cr	-22Cr	-4.73Cr
Long-Term Debt Issued, Total	23Cr	4.2Cr	109.84Cr	66Cr	92Cr
Total Debt Issued	23Cr	4.2Cr	109.84Cr	66Cr	92Cr
Short Term Debt Repaid, Total	-9.1Cr	-	-	-	-
Long-Term Debt Repaid, Total	-15Cr	-18Cr	-22Cr	-98Cr	-57Cr
Total Debt Repaid	-24Cr	-18Cr	-22Cr	-98Cr	-57Cr
Issuance of Common Stock	7.68Cr	6.48Cr	-	23Cr	-
Repurchase of Common Stock	-	-	-	-	-11Cr
Issuance of Preferred Stock	44Cr	13Cr	-	-	-
Common Dividends Paid	-	-45Cr	-87Cr	-	-
Common & Preferred Stock Dividends Paid	-	-45Cr	-87Cr	-	-
Other Financing Activities, Total	2.58Cr	-8Cr	-1.18Cr	97Cr	-34Cr
Cash from Financing	54Cr	-48Cr	37.22L	87Cr	-10Cr
Foreign Exchange Rate Adjustments	34.98L	-83.48L	80.55L	-84.5L	32.15L
Net Change in Cash	92Cr	-12Cr	57Cr	101.91Cr	8.44Cr
Supplemental Items
Cash Interest Paid	87.26L	59.06L	3.77Cr	8.49Cr	4.12Cr
Cash Income Tax Paid (Refund)	4.7Cr	11Cr	10Cr	12Cr	11Cr
Levered Free Cash Flow	-	48Cr	59Cr	-44Cr	25Cr
Unlevered Free Cash Flow	-	49Cr	63Cr	-39Cr	28Cr
Change In Net Working Capital	-	-12Cr	-16Cr	72Cr	-7.08Cr
Net Debt Issued / Repaid	-87.45L	-14Cr	88Cr	-33Cr	35Cr

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	-	11.98	13.97	6.7	3.32
Return on Total Capital	-	19.12	25.5	11.49	4.95
Return On Equity %	-	34.07	93.49	21.49	3.47
Return on Common Equity	-	34.51	103.54	21.17	2.8
Margin Analysis
Gross Profit Margin %	40.73	42.68	38.98	43	37.62
SG&A Margin	21.72	22.27	17.19	22.93	24.67
EBITDA Margin %	17.48	19.09	21.02	18.53	12.29
EBITA Margin %	15.12	16.57	18.36	15.52	8.68
EBIT Margin %	15.12	16.54	18.32	15.3	8.41
Income From Continuing Operations Margin %	10.56	9.54	14.09	7.95	2.15
Net Income Margin %	10.36	9.34	14.01	7.12	1.61
Net Avail. For Common Margin %	10.36	9.34	14.01	7.12	1.61
Normalized Net Income Margin	8.7	9.44	10.64	6.74	4.36
Levered Free Cash Flow Margin	-	14.27	12.13	-13.36	8.64
Unlevered Free Cash Flow Margin	-	14.57	12.95	-11.72	9.77
Asset Turnover
Asset Turnover	-	1.16	1.22	0.7	0.63
Fixed Assets Turnover	-	8.85	9.4	5.53	5.01
Receivables Turnover (Average Receivables)	-	3.13	3.17	1.96	2.01
Inventory Turnover (Average Inventory)	-	18.25	17.51	9.26	11.98
Short Term Liquidity
Current Ratio	2.31	1.83	1.61	1.88	1.58
Quick Ratio	2.15	1.67	1.46	1.44	1.26
Operating Cash Flow to Current Liabilities	0.48	0.41	0.37	0.21	0.12
Days Sales Outstanding (Average Receivables)	-	116.43	115.3	186.63	181.66
Days Outstanding Inventory (Average Inventory)	-	20	20.85	39.42	30.56
Average Days Payable Outstanding	-	92.59	98.79	186.56	151.82
Cash Conversion Cycle (Average Days)	-	43.84	37.36	39.5	60.4
Long Term Solvency
Total Debt/Equity	79.15	110.19	319.95	59.6	84.02
Total Debt / Total Capital	44.18	52.42	76.19	37.34	45.66
LT Debt/Equity	64.85	100.72	293.13	51.67	54.23
Long-Term Debt / Total Capital	36.2	47.92	69.8	32.37	29.47
Total Liabilities / Total Assets	61.85	72.58	87.39	59.84	62.12
EBIT / Interest Expense	21.1	34.25	14.05	5.85	4.68
EBITDA / Interest Expense	26.86	42.64	17.06	7.77	8
(EBITDA - Capex) / Interest Expense	21.46	33.15	13.46	6.04	5.81
Total Debt / EBITDA	1.56	1.35	1.81	1.62	3.56
Net Debt / EBITDA	-0.77	-0.24	0.26	0.12	1.07
Total Debt / (EBITDA - Capex)	1.95	1.74	2.3	2.09	4.9
Net Debt / (EBITDA - Capex)	-0.96	-0.31	0.33	0.15	1.47
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-	23.26	43.83	-32.15	-11.64
Gross Profit, 1 Yr. Growth %	-	29.17	31.36	-25.15	-22.69
EBITDA, 1 Yr. Growth %	-	34.56	58.42	-40.21	-41.42
EBITA, 1 Yr. Growth %	-	35.11	59.38	-42.68	-50.58
EBIT, 1 Yr. Growth %	-	34.9	59.23	-43.32	-51.45
Earnings From Cont. Operations, 1 Yr. Growth %	-	11.35	112.5	-61.7	-76.15
Net Income, 1 Yr. Growth %	-	11.06	115.75	-65.5	-79.98
Normalized Net Income, 1 Yr. Growth %	-	33.84	62.03	-57.01	-39.22
Diluted EPS Before Extra, 1 Yr. Growth %	-	4.17	92	-67.53	-79.09
Accounts Receivable, 1 Yr. Growth %	-	28.82	53	-18.4	-9.11
Inventory, 1 Yr. Growth %	-	6.28	109.71	-23.02	-28.12
Net Property, Plant and Equip., 1 Yr. Growth %	-	35.64	35.21	0.69	-5.71
Total Assets, 1 Yr. Growth %	-	14.18	56.09	-6.19	2.89
Tangible Book Value, 1 Yr. Growth %	-	-25.78	-62.1	414.02	-4.24
Common Equity, 1 Yr. Growth %	-	-21.49	-36.48	234.38	-3.51
Cash From Operations, 1 Yr. Growth %	-	17.07	58.25	-57.72	-38.96
Capital Expenditures, 1 Yr. Growth %	-	46.13	47.28	-34.62	-22.95
Levered Free Cash Flow, 1 Yr. Growth %	-	-	22.27	-174.71	-157.16
Unlevered Free Cash Flow, 1 Yr. Growth %	-	-	27.78	-161.44	-173.6
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-	-	33.15	-1.22	-22.57
Gross Profit, 2 Yr. CAGR %	-	-	30.26	-0.84	-23.93
EBITDA, 2 Yr. CAGR %	-	-	46.01	-2.66	-40.82
EBITA, 2 Yr. CAGR %	-	-	46.74	-4.4	-46.77
EBIT, 2 Yr. CAGR %	-	-	46.56	-5	-47.54
Earnings From Cont. Operations, 2 Yr. CAGR %	-	-	53.82	-9.78	-69.78
Net Income, 2 Yr. CAGR %	-	-	54.79	-13.72	-73.72
Normalized Net Income, 2 Yr. CAGR %	-	-	47.26	-16.54	-50.44
Diluted EPS Before Extra, 2 Yr. CAGR %	-	-	41.42	-21.04	-73.94
Accounts Receivable, 2 Yr. CAGR %	-	-	40.39	11.74	-13.88
Inventory, 2 Yr. CAGR %	-	-	49.29	27.05	-25.62
Net Property, Plant and Equip., 2 Yr. CAGR %	-	-	35.42	16.68	-2.56
Total Assets, 2 Yr. CAGR %	-	-	33.5	21.01	-1.76
Tangible Book Value, 2 Yr. CAGR %	-	-	-46.96	39.58	121.86
Common Equity, 2 Yr. CAGR %	-	-	-29.38	45.73	79.62
Cash From Operations, 2 Yr. CAGR %	-	-	36.11	-18.2	-49.2
Capital Expenditures, 2 Yr. CAGR %	-	-	46.7	-1.87	-29.02
Levered Free Cash Flow, 2 Yr. CAGR %	-	-	-	-4.42	-34.65
Unlevered Free Cash Flow, 2 Yr. CAGR %	-	-	-	-11.4	-32.75
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-	-	-	6.35	-4.82
Gross Profit, 3 Yr. CAGR %	-	-	-	8.29	-8.74
EBITDA, 3 Yr. CAGR %	-	-	-	8.44	-17.82
EBITA, 3 Yr. CAGR %	-	-	-	7.29	-23.27
EBIT, 3 Yr. CAGR %	-	-	-	6.78	-24.04
Earnings From Cont. Operations, 3 Yr. CAGR %	-	-	-	-3.23	-42.1
Net Income, 3 Yr. CAGR %	-	-	-	-6.15	-46.99
Normalized Net Income, 3 Yr. CAGR %	-	-	-	-2.31	-26.44
Diluted EPS Before Extra, 3 Yr. CAGR %	-	-	-	-13.4	-49.3
Accounts Receivable, 3 Yr. CAGR %	-	-	-	17.16	4.3
Inventory, 3 Yr. CAGR %	-	-	-	19.71	5.08
Net Property, Plant and Equip., 3 Yr. CAGR %	-	-	-	22.69	8.68
Total Assets, 3 Yr. CAGR %	-	-	-	18.69	14.64
Tangible Book Value, 3 Yr. CAGR %	-	-	-	13.08	23.1
Common Equity, 3 Yr. CAGR %	-	-	-	18.58	27.02
Cash From Operations, 3 Yr. CAGR %	-	-	-	-7.82	-25.81
Capital Expenditures, 3 Yr. CAGR %	-	-	-	12.06	-9.47
Levered Free Cash Flow, 3 Yr. CAGR %	-	-	-	-	-19.47
Unlevered Free Cash Flow, 3 Yr. CAGR %	-	-	-	-	-16.71