Cash flow Pasquarelli Auto S.p.A.

Equities

PSQ

IT0005546319

Auto Vehicles, Parts & Service Retailers

Market Closed - Borsa Italiana Other stock markets 09:14:59 11/09/2024 pm IST			5-day change	1st Jan Change
0.9800 ^EUR	+2.30%		-2.00%	-7.55%

10/09	ITALY GROWTH WINNERS & LOSERS: Pasquarelli Auto rises; 4AIM hurt.	AN
21/08	ITALY GROWTH WINNERS & LOSERS: Good Copernico; goes down Pasquarelli Auto.	AN

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Published financial data: PASQUARELLI AUTO S.P.A.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023
Revenues	19Cr	20Cr	25Cr
Other Revenues, Total	4L	6L	4L
Total Revenues	19Cr	20Cr	25Cr
Cost of Goods Sold, Total	18Cr	19Cr	23Cr
Gross Profit	1.49Cr	1.84Cr	2.27Cr
Selling General & Admin Expenses, Total	69.41L	81.35L	1.21Cr
Depreciation & Amortization - (IS)	8L	9L	10.37L
Amortization of Goodwill and Intangible Assets - (IS)	7L	6L	10L
Other Operating Expenses	7L	6L	10.79L
Other Operating Expenses, Total	90.52L	1.03Cr	1.52Cr
Operating Income	58.84L	81.33L	75.08L
Interest Expense, Total	-4L	-4L	-13.72L
Net Interest Expenses	-4L	-4L	-13.72L
Other Non Operating Income (Expenses)	-23.47T	-12.7T	1L
EBT, Excl. Unusual Items	54.65L	76.92L	62.58L
EBT, Incl. Unusual Items	54.65L	76.92L	62.58L
Income Tax Expense	15.26L	21.93L	20.17L
Earnings From Continuing Operations	39.39L	54.99L	42.41L
Net Income to Company	39.39L	54.99L	42.41L
Net Income - (IS)	39.39L	54.99L	42.41L
Net Income to Common Incl Extra Items	39.39L	54.99L	42.41L
Net Income to Common Excl. Extra Items	39.39L	54.99L	42.41L
Per Share Items
Net EPS - Basic	-	5.21	0.17
Basic EPS - Continuing Operations	-	5.21	0.17
Basic Weighted Average Shares Outstanding	-	10.56L	2.48Cr
Net EPS - Diluted	-	5.21	0.17
Diluted EPS - Continuing Operations	-	5.21	0.17
Diluted Weighted Average Shares Outstanding	-	10.56L	2.48Cr
Normalized Basic EPS	-	4.55	0.16
Normalized Diluted EPS	-	4.55	0.16
Supplemental Items
EBITDA	73.23L	96.85L	95.09L
EBITA	65.42L	87.66L	84.72L
EBIT	58.84L	81.33L	75.08L
EBITDAR	91.38L	1.22Cr	1.3Cr
Total Revenues (As Reported)	19Cr	20Cr	25Cr
Effective Tax Rate - (Ratio)	27.92	28.51	32.23
Current Domestic Taxes	15.26L	21.93L	20.17L
Total Current Taxes	15.26L	21.93L	20.17L
Normalized Net Income	34.16L	48.07L	39.11L
Supplemental Operating Expense Items
Advertising Expense	7L	10L	14.36L
Selling and Marketing Expenses	7L	-	14.36L
Net Rental Expense, Total	18.15L	25.14L	34.49L
Imputed Operating Lease Interest Expense	-	5L	14.86L
Imputed Operating Lease Depreciation	-	20.47L	19.63L

Fiscal Period: December	2021	2022	2023
Assets
Cash And Equivalents	44.13L	27.07L	39.34L
Trading Asset Securities, Total	2L	4L	6L
Total Cash And Short Term Investments	46.02L	30.76L	45.01L
Accounts Receivable, Total	42.19L	64.15L	1.01Cr
Other Receivables	61.49L	78.59L	1.43Cr
Total Receivables	1.04Cr	1.43Cr	2.45Cr
Inventory	2.66Cr	3.88Cr	7.34Cr
Deferred Tax Assets Current	3.82T	-	-
Other Current Assets, Total	-	95.17T	4L
Total Current Assets	4.15Cr	5.63Cr	10Cr
Gross Property Plant And Equipment	1.74Cr	2.01Cr	2.17Cr
Accumulated Depreciation	-65.07L	-74.26L	-84.63L
Net Property Plant And Equipment	1.09Cr	1.27Cr	1.32Cr
Long-term Investments	-	3L	2L
Goodwill	45.22T	33.92T	22.61T
Other Intangibles, Total	10.07L	33.37L	50.19L
Deferred Charges Long-Term	-	-	7L
Other Long-Term Assets, Total	17.12L	11.85L	12.64L
Total Assets	5.52Cr	7.39Cr	12Cr
Liabilities
Accounts Payable, Total	1.92Cr	2.74Cr	5.55Cr
Accrued Expenses, Total	19.41L	20.16L	23.63L
Short-term Borrowings	38.94L	56.36L	1.1Cr
Current Portion of Long-Term Debt	63.61L	74.34L	1.33Cr
Current Income Taxes Payable	-	77.71T	77.71T
Other Current Liabilities	5L	11.85L	21.85L
Total Current Liabilities	3.19Cr	4.37Cr	8.44Cr
Long-Term Debt	59.92L	75.47L	60.8L
Unearned Revenue Non Current	5L	-	5L
Other Non Current Liabilities	17.68L	18.96L	21.23L
Total Liabilities	4.02Cr	5.32Cr	9.31Cr
Common Stock, Total	10.56L	10.56L	12.42L
Additional Paid In Capital	-	-	50.15L
Retained Earnings	98.97L	1.54Cr	1.96Cr
Comprehensive Income and Other	39.8L	42.38L	40.99L
Total Common Equity	1.49Cr	2.07Cr	3Cr
Total Equity	1.49Cr	2.07Cr	3Cr
Total Liabilities And Equity	5.52Cr	7.39Cr	12Cr
Supplemental Items
ECS Total Shares Outstanding on Filing Date	-	10.56L	2.48Cr
ECS Total Common Shares Outstanding	-	10.56L	2.48Cr
Book Value / Share	-	19.59	1.21
Tangible Book Value	1.39Cr	1.73Cr	2.5Cr
Tangible Book Value Per Share	-	16.4	1
Total Debt	1.62Cr	2.06Cr	3.03Cr
Net Debt	1.16Cr	1.75Cr	2.58Cr
Debt Equivalent Oper. Leases	1.45Cr	2.01Cr	2.76Cr
Account Code - Inventory Valuation	-	8	8
Inventories - Finished Goods, Total	2.66Cr	3.88Cr	7.34Cr
Land - (BS)	1.1Cr	1.34Cr	1.37Cr
Machinery, Total	35.68L	39.06L	44.39L
Full Time Employees	-	146	260

Fiscal Period: December	2021	2022	2023
Net Income	39.39L	54.99L	42.41L
Depreciation & Amortization - CF	8L	9L	10.37L
Amortization of Goodwill and Intangible Assets - (CF)	7L	6L	10L
Depreciation & Amortization, Total	14.39L	15.52L	20.01L
Other Operating Activities, Total	10.38L	6L	2L
Change In Accounts Receivable	5L	-21.96L	-35.73L
Change In Inventories	53.45L	-1.23Cr	-3.46Cr
Change In Accounts Payable	-61.41L	81.06L	2.93Cr
Change in Other Net Operating Assets	24.14L	-15.27L	-62.99L
Cash from Operations	85.54L	-2L	-86.55L
Capital Expenditure	-17L	-30.06L	-15.19L
Sale of Property, Plant, and Equipment	7.03T	-	-
Sale (Purchase) of Intangible assets	-6L	-29.52L	-33.04L
Investment in Marketable and Equity Securities, Total	-3L	1L	-2L
Cash from Investing	-25.27L	-58.5L	-49.97L
Short Term Debt Issued, Total	-	20.98L	99.93L
Long-Term Debt Issued, Total	15.9L	37L	11L
Total Debt Issued	15.9L	57.98L	1.11Cr
Short Term Debt Repaid, Total	-32.46L	-	-
Long-Term Debt Repaid, Total	-15.97L	-14.1L	-14.15L
Total Debt Repaid	-48.43L	-14.1L	-14.15L
Issuance of Common Stock	-	-	52.01L
Cash from Financing	-32.54L	43.88L	1.49Cr
Net Change in Cash	27.73L	-17.06L	12.27L
Supplemental Items
Cash Income Tax Paid (Refund)	7L	20.08L	20.15L
Levered Free Cash Flow	-	-68.42L	-1.46Cr
Unlevered Free Cash Flow	-	-65.74L	-1.37Cr
Change In Net Working Capital	-	72.52L	1.56Cr
Net Debt Issued / Repaid	-32.54L	43.88L	96.78L

Fiscal Period: December	2021	2022	2023
Profitability
Return on Assets	-	7.88	4.76
Return on Total Capital	-	14.02	9.23
Return On Equity %	-	30.87	16.74
Return on Common Equity	-	30.87	16.74
Margin Analysis
Gross Profit Margin %	7.78	9.03	9.15
SG&A Margin	3.61	3.99	4.88
EBITDA Margin %	3.81	4.75	3.83
EBITA Margin %	3.41	4.3	3.41
EBIT Margin %	3.06	3.99	3.02
Income From Continuing Operations Margin %	2.05	2.7	1.71
Net Income Margin %	2.05	2.7	1.71
Net Avail. For Common Margin %	2.05	2.7	1.71
Normalized Net Income Margin	1.78	2.36	1.58
Levered Free Cash Flow Margin	-	-3.36	-5.87
Unlevered Free Cash Flow Margin	-	-3.23	-5.53
Asset Turnover
Asset Turnover	-	3.16	2.52
Fixed Assets Turnover	-	17.29	19.15
Receivables Turnover (Average Receivables)	-	38.21	29.96
Inventory Turnover (Average Inventory)	-	5.67	4.02
Short Term Liquidity
Current Ratio	1.3	1.29	1.22
Quick Ratio	0.47	0.4	0.34
Operating Cash Flow to Current Liabilities	0.27	-0.01	-0.1
Days Sales Outstanding (Average Receivables)	-	9.55	12.18
Days Outstanding Inventory (Average Inventory)	-	64.37	90.83
Average Days Payable Outstanding	-	42.99	58.17
Cash Conversion Cycle (Average Days)	-	30.93	44.84
Long Term Solvency
Total Debt/Equity	108.79	99.65	101.13
Total Debt / Total Capital	52.11	49.91	50.28
LT Debt/Equity	40.12	36.48	20.27
Long-Term Debt / Total Capital	19.22	18.27	10.08
Total Liabilities / Total Assets	72.93	71.99	75.64
EBIT / Interest Expense	14.89	18.98	5.47
EBITDA / Interest Expense	18.53	22.6	6.93
(EBITDA - Capex) / Interest Expense	14.23	15.59	5.82
Total Debt / EBITDA	2.22	2.13	3.19
Net Debt / EBITDA	1.59	1.81	2.72
Total Debt / (EBITDA - Capex)	2.89	3.09	3.8
Net Debt / (EBITDA - Capex)	2.07	2.63	3.23
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-	6.1	21.8
Gross Profit, 1 Yr. Growth %	-	23.17	25.09
EBITDA, 1 Yr. Growth %	-	32.25	-1.82
EBITA, 1 Yr. Growth %	-	34	-3.35
EBIT, 1 Yr. Growth %	-	38.22	-7.68
Earnings From Cont. Operations, 1 Yr. Growth %	-	39.6	-22.87
Net Income, 1 Yr. Growth %	-	39.6	-22.87
Normalized Net Income, 1 Yr. Growth %	-	40.73	-18.64
Diluted EPS Before Extra, 1 Yr. Growth %	-	-	-96.72
Accounts Receivable, 1 Yr. Growth %	-	52.06	57.91
Inventory, 1 Yr. Growth %	-	46.14	89.07
Net Property, Plant and Equip., 1 Yr. Growth %	-	17.22	3.79
Total Assets, 1 Yr. Growth %	-	33.93	66.66
Tangible Book Value, 1 Yr. Growth %	-	24.77	44.07
Common Equity, 1 Yr. Growth %	-	38.55	44.96
Cash From Operations, 1 Yr. Growth %	-	-102.84	3.46T
Capital Expenditures, 1 Yr. Growth %	-	76.87	-49.47
Levered Free Cash Flow, 1 Yr. Growth %	-	-	113.03
Unlevered Free Cash Flow, 1 Yr. Growth %	-	-	108.67
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-	-	13.68
Gross Profit, 2 Yr. CAGR %	-	-	23.3
EBITDA, 2 Yr. CAGR %	-	-	13.95
EBITA, 2 Yr. CAGR %	-	-	13.8
EBIT, 2 Yr. CAGR %	-	-	12.96
Earnings From Cont. Operations, 2 Yr. CAGR %	-	-	3.76
Net Income, 2 Yr. CAGR %	-	-	3.76
Normalized Net Income, 2 Yr. CAGR %	-	-	7.01
Accounts Receivable, 2 Yr. CAGR %	-	-	54.95
Inventory, 2 Yr. CAGR %	-	-	66.23
Net Property, Plant and Equip., 2 Yr. CAGR %	-	-	10.3
Total Assets, 2 Yr. CAGR %	-	-	49.4
Tangible Book Value, 2 Yr. CAGR %	-	-	34.07
Common Equity, 2 Yr. CAGR %	-	-	41.72
Cash From Operations, 2 Yr. CAGR %	-	-	0.59
Capital Expenditures, 2 Yr. CAGR %	-	-	-5.46