Cash flow Adicon Holdings Limited

Equities

9860

KYG0086A1076

Healthcare Facilities & Services

Market Closed - Hong Kong S.E. Other stock markets 01:38:16 16/09/2024 pm IST			5-day change	1st Jan Change
8.740 ^HKD	+12.48%		-1.80%	-32.98%

30/08	Adicon Holdings Limited Reports Earnings Results for the Half Year Ended June 30, 2024	CI
29/06	281,541,805 Ordinary Shares of Adicon Holdings Limited are subject to a Lock-Up Agreement Ending on 29-JUN-2024.	CI

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Published financial data: ADICON HOLDINGS LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023
Revenues	2.74B	3.38B	4.86B	3.3B
Total Revenues	2.74B	3.38B	4.86B	3.3B
Cost of Goods Sold, Total	1.63B	1.94B	2.97B	1.88B
Gross Profit	1.12B	1.44B	1.89B	1.42B
Selling General & Admin Expenses, Total	596M	753M	836M	756M
R&D Expenses	102M	125M	163M	144M
Other Operating Expenses	4.59M	5.06M	6.22M	13.82M
Other Operating Expenses, Total	702M	883M	1B	914M
Operating Income	414M	559M	890M	505M
Interest Expense, Total	-19.64M	-16.33M	-63.37M	-86.32M
Interest And Investment Income	3.76M	6.29M	8.87M	20.16M
Net Interest Expenses	-15.88M	-10.04M	-54.5M	-66.16M
Currency Exchange Gains (Loss)	1.43M	-50K	-6.74M	-8.2M
Other Non Operating Income (Expenses)	-9.96M	-27.61M	4.83M	-30.74M
EBT, Excl. Unusual Items	390M	521M	834M	400M
Gain (Loss) On Sale Of Investments	-32.56M	-39.7M	-112M	-57.86M
Gain (Loss) On Sale Of Assets	-1.73M	-2.92M	-1.75M	-3.77M
Other Unusual Items	2.44M	-61.53M	100M	11.48M
EBT, Incl. Unusual Items	358M	417M	821M	349M
Income Tax Expense	68.73M	94.95M	136M	87.05M
Earnings From Continuing Operations	289M	322M	685M	262M
Net Income to Company	289M	322M	685M	262M
Minority Interest	-5.33M	-6.76M	-4.09M	-27.44M
Net Income - (IS)	284M	316M	681M	235M
Net Income to Common Incl Extra Items	284M	316M	681M	235M
Net Income to Common Excl. Extra Items	284M	316M	681M	235M
Per Share Items
Net EPS - Basic	0.49	0.5	1.04	0.34
Basic EPS - Continuing Operations	0.49	0.5	1.04	0.34
Basic Weighted Average Shares Outstanding	578M	631M	653M	691M
Net EPS - Diluted	0.48	0.5	0.96	0.31
Diluted EPS - Continuing Operations	0.48	0.5	0.96	0.31
Diluted Weighted Average Shares Outstanding	587M	631M	706M	717M
Normalized Basic EPS	0.41	0.51	0.79	0.32
Normalized Diluted EPS	0.41	0.51	0.73	0.31
Payout Ratio	-	143.43	127.06	-
Supplemental Items
EBITDA	479M	645M	1.02B	611M
EBITA	414M	560M	892M	512M
EBIT	414M	559M	890M	505M
EBITDAR	492M	659M	1.04B	628M
Effective Tax Rate - (Ratio)	19.19	22.76	16.56	24.92
Total Current Taxes	82.61M	113M	175M	77.95M
Total Deferred Taxes	-13.88M	-18.35M	-39.19M	9.1M
Normalized Net Income	238M	319M	517M	222M
Interest on Long-Term Debt	10.83M	10.62M	13.7M	12.72M
Supplemental Operating Expense Items
Selling and Marketing Expenses	359M	490M	553M	485M
General and Administrative Expenses	237M	263M	282M	271M
Research And Development Expense From Footnotes	102M	125M	163M	144M
Net Rental Expense, Total	13.08M	13.83M	13.39M	17.1M
Imputed Operating Lease Interest Expense	-	2.05M	4.68M	7.75M
Imputed Operating Lease Depreciation	-	11.78M	8.7M	9.36M
Stock-Based Comp., Other (Total)	63.6M	37.32M	15.05M	17.05M
Total Stock-Based Compensation	63.6M	37.32M	15.05M	17.05M

Fiscal Period: December	2020	2021	2022	2023
Assets
Cash And Equivalents	1.23B	1.11B	1.68B	959M
Trading Asset Securities, Total	-	-	-	50.84M
Total Cash And Short Term Investments	1.23B	1.11B	1.68B	1.01B
Accounts Receivable, Total	942M	1.21B	1.86B	1.52B
Total Receivables	942M	1.21B	1.86B	1.52B
Inventory	103M	109M	229M	177M
Other Current Assets, Total	61.12M	106M	128M	601M
Total Current Assets	2.33B	2.54B	3.89B	3.3B
Gross Property Plant And Equipment	613M	755M	1.03B	1.09B
Accumulated Depreciation	-289M	-316M	-432M	-495M
Net Property Plant And Equipment	324M	440M	594M	598M
Long-term Investments	-	-	8.1M	1.54M
Goodwill	-	25.69M	79.8M	79.8M
Other Intangibles, Total	3.01M	20.5M	144M	151M
Accounts Receivable Long-Term	1.85M	1.82M	2.12M	2.47M
Deferred Tax Assets Long-Term	51.98M	74.56M	118M	104M
Other Long-Term Assets, Total	7.75M	9.64M	12.84M	313M
Total Assets	2.72B	3.11B	4.85B	4.55B
Liabilities
Accounts Payable, Total	439M	547M	1.12B	744M
Accrued Expenses, Total	288M	431M	611M	455M
Short-term Borrowings	116M	42M	69.68M	86.09M
Current Portion of Long-Term Debt	4.18M	7.14M	43.11M	9.78M
Current Portion of Leases	28.42M	31.65M	51.4M	49.2M
Current Income Taxes Payable	44.08M	50.3M	125M	77.79M
Unearned Revenue Current, Total	11.66M	20.68M	21.06M	36.49M
Other Current Liabilities	77.09M	258M	375M	299M
Total Current Liabilities	1.01B	1.39B	2.42B	1.76B
Long-Term Debt	544M	713M	1.61B	792M
Long-Term Leases	130M	146M	182M	153M
Deferred Tax Liability Non Current	1.54M	10.26M	28.5M	23.17M
Total Liabilities	1.68B	2.26B	4.24B	2.72B
Common Stock, Total	77K	86K	86K	97K
Retained Earnings	728M	591M	406M	641M
Comprehensive Income and Other	297M	214M	104M	1.07B
Total Common Equity	1.02B	804M	511M	1.71B
Minority Interest	14.78M	48.61M	102M	121M
Total Equity	1.04B	853M	612M	1.83B
Total Liabilities And Equity	2.72B	3.11B	4.85B	4.55B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	578M	631M	653M	727M
ECS Total Common Shares Outstanding	578M	631M	653M	727M
Book Value / Share	1.77	1.27	0.78	2.35
Tangible Book Value	1.02B	758M	287M	1.48B
Tangible Book Value Per Share	1.77	1.2	0.44	2.03
Total Debt	823M	940M	1.96B	1.09B
Net Debt	-406M	-169M	279M	79.58M
Debt Equivalent Oper. Leases	105M	111M	107M	137M
Minority Interest, Total (Incl. Fin. Div)	14.78M	48.61M	102M	121M
Account Code - Inventory Valuation	-	-	5	5
Inventories - Raw Materials, Total	16.36M	17.02M	21.65M	1.04M
Inventories - Finished Goods, Total	13.87M	6.82M	69.83M	68.27M
Inventories - Others	72.7M	85.56M	138M	107M
Machinery, Total	320M	416M	572M	637M
Full Time Employees	-	-	-	5.71K
Accumulated Allowance for Doubtful Accounts (Supple)	46M	75.08M	190M	242M

Fiscal Period: December	2020	2021	2022	2023
Net Income	284M	316M	681M	235M
Depreciation & Amortization - CF	113M	136M	189M	159M
Amortization of Goodwill and Intangible Assets - (CF)	9K	867K	2.23M	7.2M
Depreciation & Amortization, Total	113M	137M	191M	166M
Amortization of Deferred Charges, Total - (CF)	653K	750K	2.62M	1.29M
(Gain) Loss From Sale Of Asset	2M	3.29M	3.05M	3.77M
(Gain) Loss on Sale of Investments - (CF)	32.56M	39.7M	112M	57.86M
Stock-Based Compensation (CF)	63.6M	37.32M	15.05M	17.05M
Other Operating Activities, Total	39.11M	66.24M	7.05M	37.73M
Change In Accounts Receivable	-285M	-305M	-650M	283M
Change In Inventories	-22.24M	-4.54M	-115M	36.84M
Change In Accounts Payable	121M	105M	512M	-379M
Change in Other Net Operating Assets	133M	169M	135M	-82.65M
Cash from Operations	482M	564M	893M	378M
Capital Expenditure	-106M	-155M	-228M	-149M
Sale of Property, Plant, and Equipment	3.79M	1.78M	3.87M	5.96M
Cash Acquisitions	-	-21.08M	-48.69M	-18.07M
Sale (Purchase) of Intangible assets	-590K	-1.12M	-69.06M	-16.2M
Investment in Marketable and Equity Securities, Total	-	-30M	-	-50.07M
Other Investing Activities, Total	1.96M	8.09M	8.87M	7.51M
Cash from Investing	-101M	-197M	-333M	-220M
Long-Term Debt Issued, Total	230M	42M	1.1B	655M
Total Debt Issued	230M	42M	1.1B	655M
Short Term Debt Repaid, Total	-90.99M	-	-	-
Long-Term Debt Repaid, Total	-148M	-180M	-218M	-983M
Total Debt Repaid	-239M	-180M	-218M	-983M
Issuance of Common Stock	76.77M	64.81M	-	231M
Issuance of Preferred Stock	444M	129M	-	-
Common Dividends Paid	-	-453M	-865M	-
Common & Preferred Stock Dividends Paid	-	-453M	-865M	-
Other Financing Activities, Total	25.77M	-80.03M	-11.84M	967M
Cash from Financing	538M	-476M	3.72M	870M
Foreign Exchange Rate Adjustments	3.5M	-8.35M	8.06M	-8.45M
Net Change in Cash	922M	-118M	571M	1.02B
Supplemental Items
Cash Interest Paid	8.73M	5.91M	37.72M	84.85M
Cash Income Tax Paid (Refund)	46.97M	107M	101M	125M
Levered Free Cash Flow	-	482M	590M	-441M
Unlevered Free Cash Flow	-	492M	629M	-387M
Change In Net Working Capital	-	-124M	-162M	721M
Net Debt Issued / Repaid	-8.74M	-138M	881M	-328M

Fiscal Period: December	2020	2021	2022	2023
Profitability
Return on Assets	-	11.98	13.97	6.7
Return on Total Capital	-	19.12	25.5	11.49
Return On Equity %	-	34.07	93.49	21.49
Return on Common Equity	-	34.51	103.54	21.17
Margin Analysis
Gross Profit Margin %	40.73	42.68	38.98	43
SG&A Margin	21.72	22.27	17.19	22.93
EBITDA Margin %	17.48	19.09	21.02	18.53
EBITA Margin %	15.12	16.57	18.36	15.52
EBIT Margin %	15.12	16.54	18.32	15.3
Income From Continuing Operations Margin %	10.56	9.54	14.09	7.95
Net Income Margin %	10.36	9.34	14.01	7.12
Net Avail. For Common Margin %	10.36	9.34	14.01	7.12
Normalized Net Income Margin	8.7	9.44	10.64	6.74
Levered Free Cash Flow Margin	-	14.27	12.13	-13.36
Unlevered Free Cash Flow Margin	-	14.57	12.95	-11.72
Asset Turnover
Asset Turnover	-	1.16	1.22	0.7
Fixed Assets Turnover	-	8.85	9.4	5.53
Receivables Turnover (Average Receivables)	-	3.13	3.17	1.96
Inventory Turnover (Average Inventory)	-	18.25	17.51	9.26
Short Term Liquidity
Current Ratio	2.31	1.83	1.61	1.88
Quick Ratio	2.15	1.67	1.46	1.44
Operating Cash Flow to Current Liabilities	0.48	0.41	0.37	0.21
Days Sales Outstanding (Average Receivables)	-	116.43	115.3	186.63
Days Outstanding Inventory (Average Inventory)	-	20	20.85	39.42
Average Days Payable Outstanding	-	92.59	98.79	186.56
Cash Conversion Cycle (Average Days)	-	43.84	37.36	39.5
Long Term Solvency
Total Debt/Equity	79.15	110.19	319.95	59.6
Total Debt / Total Capital	44.18	52.42	76.19	37.34
LT Debt/Equity	64.85	100.72	293.13	51.67
Long-Term Debt / Total Capital	36.2	47.92	69.8	32.37
Total Liabilities / Total Assets	61.85	72.58	87.39	59.84
EBIT / Interest Expense	21.1	34.25	14.05	5.85
EBITDA / Interest Expense	26.86	42.64	17.06	7.77
(EBITDA - Capex) / Interest Expense	21.46	33.15	13.46	6.04
Total Debt / EBITDA	1.56	1.35	1.81	1.62
Net Debt / EBITDA	-0.77	-0.24	0.26	0.12
Total Debt / (EBITDA - Capex)	1.95	1.74	2.3	2.09
Net Debt / (EBITDA - Capex)	-0.96	-0.31	0.33	0.15
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-	23.26	43.83	-32.15
Gross Profit, 1 Yr. Growth %	-	29.17	31.36	-25.15
EBITDA, 1 Yr. Growth %	-	34.56	58.42	-40.21
EBITA, 1 Yr. Growth %	-	35.11	59.38	-42.68
EBIT, 1 Yr. Growth %	-	34.9	59.23	-43.32
Earnings From Cont. Operations, 1 Yr. Growth %	-	11.35	112.5	-61.7
Net Income, 1 Yr. Growth %	-	11.06	115.75	-65.5
Normalized Net Income, 1 Yr. Growth %	-	33.84	62.03	-57.01
Diluted EPS Before Extra, 1 Yr. Growth %	-	4.17	92	-67.53
Accounts Receivable, 1 Yr. Growth %	-	28.82	53	-18.4
Inventory, 1 Yr. Growth %	-	6.28	109.71	-23.02
Net Property, Plant and Equip., 1 Yr. Growth %	-	35.64	35.21	0.69
Total Assets, 1 Yr. Growth %	-	14.18	56.09	-6.19
Tangible Book Value, 1 Yr. Growth %	-	-25.78	-62.1	414.02
Common Equity, 1 Yr. Growth %	-	-21.49	-36.48	234.38
Cash From Operations, 1 Yr. Growth %	-	17.07	58.25	-57.72
Capital Expenditures, 1 Yr. Growth %	-	46.13	47.28	-34.62
Levered Free Cash Flow, 1 Yr. Growth %	-	-	22.27	-174.71
Unlevered Free Cash Flow, 1 Yr. Growth %	-	-	27.78	-161.44
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-	-	33.15	-1.22
Gross Profit, 2 Yr. CAGR %	-	-	30.26	-0.84
EBITDA, 2 Yr. CAGR %	-	-	46.01	-2.66
EBITA, 2 Yr. CAGR %	-	-	46.74	-4.4
EBIT, 2 Yr. CAGR %	-	-	46.56	-5
Earnings From Cont. Operations, 2 Yr. CAGR %	-	-	53.82	-9.78
Net Income, 2 Yr. CAGR %	-	-	54.79	-13.72
Normalized Net Income, 2 Yr. CAGR %	-	-	47.26	-16.54
Diluted EPS Before Extra, 2 Yr. CAGR %	-	-	41.42	-21.04
Accounts Receivable, 2 Yr. CAGR %	-	-	40.39	11.74
Inventory, 2 Yr. CAGR %	-	-	49.29	27.05
Net Property, Plant and Equip., 2 Yr. CAGR %	-	-	35.42	16.68
Total Assets, 2 Yr. CAGR %	-	-	33.5	21.01
Tangible Book Value, 2 Yr. CAGR %	-	-	-46.96	39.58
Common Equity, 2 Yr. CAGR %	-	-	-29.38	45.73
Cash From Operations, 2 Yr. CAGR %	-	-	36.11	-18.2
Capital Expenditures, 2 Yr. CAGR %	-	-	46.7	-1.87
Levered Free Cash Flow, 2 Yr. CAGR %	-	-	-	-4.42
Unlevered Free Cash Flow, 2 Yr. CAGR %	-	-	-	-11.4
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-	-	-	6.35
Gross Profit, 3 Yr. CAGR %	-	-	-	8.29
EBITDA, 3 Yr. CAGR %	-	-	-	8.44
EBITA, 3 Yr. CAGR %	-	-	-	7.29
EBIT, 3 Yr. CAGR %	-	-	-	6.78
Earnings From Cont. Operations, 3 Yr. CAGR %	-	-	-	-3.23
Net Income, 3 Yr. CAGR %	-	-	-	-6.15
Normalized Net Income, 3 Yr. CAGR %	-	-	-	-2.31
Diluted EPS Before Extra, 3 Yr. CAGR %	-	-	-	-13.4
Accounts Receivable, 3 Yr. CAGR %	-	-	-	17.16
Inventory, 3 Yr. CAGR %	-	-	-	19.71
Net Property, Plant and Equip., 3 Yr. CAGR %	-	-	-	22.69
Total Assets, 3 Yr. CAGR %	-	-	-	18.69