Balance Sheet VBG Group AB

Equities

VBG B

SE0000115107

Consumer Goods Conglomerates

Market Closed - Nasdaq Stockholm Other stock markets 09:30:00 18/09/2024 pm IST			5-day change	1st Jan Change
383.00 ^SEK	-2.54%		-0.78%	+57.61%

19/07	VBG Group to Buy Land in Canada for New Production Facility	MT
19/07	VBG Group AB Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2024	CI

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Published financial data: VBG GROUP AB

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	3.73B	3.15B	3.61B	4.58B	5.74B
Total Revenues	3.73B	3.15B	3.61B	4.58B	5.74B
Cost of Goods Sold, Total	2.47B	2.08B	2.45B	3.23B	3.94B
Gross Profit	1.25B	1.06B	1.16B	1.35B	1.8B
Selling General & Admin Expenses, Total	655M	564M	581M	729M	798M
R&D Expenses	137M	114M	110M	134M	142M
Other Operating Expenses	22.99M	12.96M	8.57M	23.69M	41.69M
Other Operating Expenses, Total	815M	691M	700M	887M	982M
Operating Income	439M	373M	465M	460M	817M
Interest Expense, Total	-28.24M	-19.2M	-14.13M	-37.42M	-70.17M
Interest And Investment Income	3.45M	6.24M	4.36M	8.27M	34.89M
Net Interest Expenses	-24.79M	-12.96M	-9.77M	-29.14M	-35.28M
Currency Exchange Gains (Loss)	-9.75M	-30.23M	-8.11M	11.93M	-14.92M
Other Non Operating Income (Expenses)	-7.73M	-3.41M	-2.85M	421K	-9.58M
EBT, Excl. Unusual Items	397M	326M	445M	443M	757M
Merger & Related Restructuring Charges	-	-	-3.6M	-	-
Impairment of Goodwill	-	-	-	-	-
Gain (Loss) On Sale Of Assets	20K	418K	462K	44.54M	4.61M
EBT, Incl. Unusual Items	397M	326M	441M	488M	762M
Income Tax Expense	97.49M	99.76M	104M	120M	193M
Earnings From Continuing Operations	300M	227M	337M	368M	569M
Net Income to Company	300M	227M	337M	368M	569M
Net Income - (IS)	300M	227M	337M	368M	569M
Net Income to Common Incl Extra Items	300M	227M	337M	368M	569M
Net Income to Common Excl. Extra Items	300M	227M	337M	368M	569M
Per Share Items
Net EPS - Basic	11.98	9.07	13.48	14.73	22.74
Basic EPS - Continuing Operations	11.98	9.07	13.48	14.73	22.74
Basic Weighted Average Shares Outstanding	25M	25M	25M	25M	25M
Net EPS - Diluted	11.98	9.07	13.48	14.73	22.74
Diluted EPS - Continuing Operations	11.98	9.07	13.48	14.73	22.74
Diluted Weighted Average Shares Outstanding	25M	25M	25M	25M	25M
Normalized Basic EPS	9.92	8.15	11.11	11.08	18.93
Normalized Diluted EPS	9.92	8.15	11.11	11.08	18.93
Dividend Per Share	-	4.5	5	5.5	7
Payout Ratio	37.56	-	33.38	33.95	24.19
Supplemental Items
EBITDA	518M	476M	546M	544M	912M
EBITA	468M	399M	493M	488M	846M
EBIT	439M	373M	465M	460M	817M
EBITDAR	522M	479M	549M	547M	916M
Effective Tax Rate - (Ratio)	24.55	30.56	23.63	24.5	25.37
Current Domestic Taxes	22.29M	20.25M	23.48M	24.47M	32.49M
Current Foreign Taxes	78.26M	62.36M	78.98M	119M	152M
Total Current Taxes	101M	82.61M	102M	143M	184M
Deferred Domestic Taxes	-	-	-	-	-
Deferred Foreign Taxes	-	-	-	-	-
Total Deferred Taxes	-3.06M	17.15M	1.86M	-23.47M	9.1M
Normalized Net Income	248M	204M	278M	277M	473M
Interest on Long-Term Debt	6.12M	5.55M	4.46M	14.36M	14.59M
Non-Cash Pension Expense	4.25M	3.29M	2.7M	4.45M	-
Supplemental Operating Expense Items
Selling and Marketing Expenses	380M	322M	315M	393M	428M
General and Administrative Expenses	275M	243M	266M	337M	370M
Research And Development Expense From Footnotes	137M	114M	110M	134M	142M
Net Rental Expense, Total	4.24M	2.42M	3.32M	2.57M	3.65M
Imputed Operating Lease Interest Expense	1.11M	406K	416K	813K	1.98M
Imputed Operating Lease Depreciation	3.13M	2.02M	2.91M	1.76M	1.67M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	472M	900M	667M	499M	886M
Total Cash And Short Term Investments	472M	900M	667M	499M	886M
Accounts Receivable, Total	467M	353M	524M	673M	822M
Other Receivables	60.4M	47.56M	79.34M	144M	141M
Total Receivables	528M	400M	603M	817M	963M
Inventory	639M	552M	819M	1.11B	1.04B
Prepaid Expenses	13.78M	11.91M	15.83M	19.72M	25.24M
Other Current Assets, Total	1.68M	1.97M	3.97M	4.62M	-
Total Current Assets	1.65B	1.87B	2.11B	2.45B	2.91B
Gross Property Plant And Equipment	978M	905M	996M	1.51B	1.5B
Accumulated Depreciation	-442M	-430M	-510M	-623M	-683M
Net Property Plant And Equipment	537M	475M	487M	889M	814M
Goodwill	1.14B	1.1B	1.17B	1.23B	1.29B
Other Intangibles, Total	797M	762M	839M	821M	939M
Deferred Tax Assets Long-Term	67.26M	53.64M	57.87M	24.28M	27.47M
Total Assets	4.2B	4.26B	4.66B	5.41B	5.98B
Liabilities
Accounts Payable, Total	203M	165M	226M	323M	322M
Accrued Expenses, Total	112M	106M	130M	144M	188M
Current Portion of Long-Term Debt	-	-	-	-	-
Current Portion of Leases	25.31M	21.89M	22.62M	49.06M	55.7M
Current Income Taxes Payable	8.82M	9.92M	16.09M	49.76M	95.51M
Other Current Liabilities	73.68M	64.4M	76.56M	87.81M	77.51M
Total Current Liabilities	423M	368M	471M	654M	740M
Long-Term Debt	741M	806M	752M	576M	730M
Long-Term Leases	131M	106M	95.82M	399M	258M
Pension & Other Post Retirement Benefits	230M	234M	252M	197M	202M
Deferred Tax Liability Non Current	220M	215M	240M	213M	229M
Other Non Current Liabilities	26.17M	28.32M	58.73M	84.09M	152M
Total Liabilities	1.77B	1.76B	1.87B	2.12B	2.31B
Common Stock, Total	65.49M	65.49M	65.49M	65.49M	65.49M
Additional Paid In Capital	781M	781M	781M	781M	781M
Retained Earnings	1.43B	1.65B	1.86B	2.15B	2.58B
Comprehensive Income and Other	155M	3.03M	87.41M	288M	249M
Total Common Equity	2.43B	2.5B	2.79B	3.29B	3.67B
Total Equity	2.43B	2.5B	2.79B	3.29B	3.67B
Total Liabilities And Equity	4.2B	4.26B	4.66B	5.41B	5.98B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	25M	25M	25M	25M	25M
ECS Total Common Shares Outstanding	25M	25M	25M	25M	25M
Book Value / Share	97.09	99.99	111.72	131.51	146.94
Tangible Book Value	487M	637M	785M	1.24B	1.44B
Tangible Book Value Per Share	19.48	25.46	31.38	49.61	57.73
Total Debt	898M	935M	871M	1.02B	1.04B
Net Debt	425M	35.17M	203M	525M	158M
Debt Equivalent of Unfunded Proj. Benefit Obligation	230M	232M	252M	197M	-
Debt Equivalent Oper. Leases	33.94M	19.38M	26.6M	20.58M	29.18M
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Raw Materials, Total	334M	314M	459M	628M	532M
Inventories - Work In Process, Total	79.94M	65.02M	104M	124M	143M
Inventories - Finished Goods, Total	225M	173M	257M	359M	364M
Land - (BS)	-	-	276M	-	-
Buildings, Total	270M	245M	-	300M	367M
Machinery, Total	495M	467M	515M	616M	679M
Full Time Employees	1.61K	1.48K	1.71K	1.77K	2.06K
Assets under Capital Lease - Gross	-	-	-	-	-
Assets under Capital Lease - Accumulated Depreciation	-	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	10.67M	6.55M	7.76M	6.52M	11.34M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	300M	227M	337M	368M	569M
Depreciation & Amortization - CF	80.71M	106M	78.3M	106M	94.99M
Amortization of Goodwill and Intangible Assets - (CF)	29.11M	26.48M	28.14M	27.63M	29.34M
Depreciation & Amortization, Total	110M	132M	106M	134M	124M
Amortization of Deferred Charges, Total - (CF)	3M	5.68M	-	2.68M	3.76M
(Gain) Loss From Sale Of Asset	-	-	-	-	-4.55M
Asset Writedown & Restructuring Costs	-	-	-	-	-
Other Operating Activities, Total	-8.45M	-21.87M	27.06M	91.2M	-8.62M
Change In Accounts Receivable	37.92M	71.99M	-141M	-83.29M	-121M
Change In Inventories	11.58M	29.97M	-195M	-201M	92.79M
Change In Accounts Payable	-18.24M	-3.95M	38.54M	54.61M	-13.71M
Change in Other Net Operating Assets	3.72M	5.22M	14.46M	-53.12M	63.29M
Cash from Operations	439M	446M	187M	313M	705M
Capital Expenditure	-75.39M	-45.54M	-31.78M	-114M	-112M
Sale of Property, Plant, and Equipment	-	-	-	-	15.81M
Cash Acquisitions	-	-4.36M	-146M	-	-243M
Sale (Purchase) of Intangible assets	-30.57M	-744K	-30.34M	-4.6M	-3.46M
Other Investing Activities, Total	-	-	-1K	-	-
Cash from Investing	-106M	-50.64M	-208M	-118M	-343M
Long-Term Debt Issued, Total	-	80.1M	136M	1.34M	184M
Total Debt Issued	-	80.1M	136M	1.34M	184M
Long-Term Debt Repaid, Total	-124M	-26M	-251M	-254M	-14.12M
Total Debt Repaid	-124M	-26M	-251M	-254M	-14.12M
Issuance of Common Stock	-	-	-	-	-
Common Dividends Paid	-113M	-	-113M	-125M	-138M
Common & Preferred Stock Dividends Paid	-113M	-	-113M	-125M	-138M
Other Financing Activities, Total	-	-	-1K	1K	-
Cash from Financing	-237M	54.11M	-227M	-378M	31.89M
Foreign Exchange Rate Adjustments	4.7M	-22.59M	15.83M	14.86M	-7.35M
Miscellaneous Cash Flow Adjustments	-	-1K	1K	-	-
Net Change in Cash	101M	427M	-232M	-169M	387M
Supplemental Items
Cash Interest Paid	31.56M	16.87M	15.14M	24.32M	67.5M
Cash Income Tax Paid (Refund)	128M	78.95M	103M	99.78M	179M
Levered Free Cash Flow	263M	477M	-48.12M	-69.96M	484M
Unlevered Free Cash Flow	281M	489M	-39.29M	-46.58M	527M
Change In Net Working Capital	645K	-164M	374M	352M	-3.76M
Net Debt Issued / Repaid	-124M	54.11M	-114M	-253M	169M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	6.76	5.51	6.52	5.71	8.96
Return on Total Capital	8.61	6.89	8.19	7.21	11.31
Return On Equity %	12.87	9.2	12.74	12.11	16.33
Return on Common Equity	12.87	9.2	12.74	12.11	16.33
Margin Analysis
Gross Profit Margin %	33.66	33.79	32.26	29.42	31.34
SG&A Margin	17.58	17.93	16.09	15.92	13.91
EBITDA Margin %	13.9	15.13	15.12	11.88	15.89
EBITA Margin %	12.57	12.68	13.66	10.65	14.75
EBIT Margin %	11.79	11.84	12.88	10.04	14.23
Income From Continuing Operations Margin %	8.04	7.2	9.34	8.04	9.91
Net Income Margin %	8.04	7.2	9.34	8.04	9.91
Net Avail. For Common Margin %	8.04	7.2	9.34	8.04	9.91
Normalized Net Income Margin	6.66	6.48	7.69	6.05	8.25
Levered Free Cash Flow Margin	7.06	15.16	-1.33	-1.53	8.43
Unlevered Free Cash Flow Margin	7.54	15.54	-1.09	-1.02	9.19
Asset Turnover
Asset Turnover	0.92	0.74	0.81	0.91	1.01
Fixed Assets Turnover	8.42	6.22	7.51	6.66	6.74
Receivables Turnover (Average Receivables)	7.77	7.68	8.24	7.65	7.68
Inventory Turnover (Average Inventory)	3.88	3.5	3.57	3.35	3.67
Short Term Liquidity
Current Ratio	3.91	5.07	4.48	3.75	3.94
Quick Ratio	2.37	3.54	2.7	2.01	2.5
Operating Cash Flow to Current Liabilities	1.04	1.21	0.4	0.48	0.95
Days Sales Outstanding (Average Receivables)	46.95	47.67	44.3	47.7	47.53
Days Outstanding Inventory (Average Inventory)	94.04	104.55	102.28	108.95	99.55
Average Days Payable Outstanding	30.65	33.77	26.3	28.43	30.46
Cash Conversion Cycle (Average Days)	110.33	118.45	120.28	128.22	116.63
Long Term Solvency
Total Debt/Equity	36.97	37.38	31.18	31.14	28.42
Total Debt / Total Capital	26.99	27.21	23.77	23.75	22.13
LT Debt/Equity	35.93	36.51	30.37	29.65	26.91
Long-Term Debt / Total Capital	26.23	26.57	23.15	22.61	20.95
Total Liabilities / Total Assets	42.18	41.27	40.1	39.24	38.61
EBIT / Interest Expense	15.55	19.41	32.93	12.3	11.64
EBITDA / Interest Expense	19.44