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Using the given balance sheet and income statement, compute the 2019 and 2018 Free cash flow and free cash flow to equity. Formula for FCF:
Using the given balance sheet and income statement, compute the 2019 and 2018 Free cash flow and free cash flow to equity.
Formula for FCF: Net income + Non Cash expenses - Change in NWC + After tax interest expense - Capital expenditure
or EBIT(1-t) + Non cash expense - changes in NWC - Capital expenditure
Note that non cash expense is the depreciation + other non cash expenses
Consolidated data Cons 31/12/2019 m USD 12 months Unqual US GAAP 10-K Cons 31/12/2018 m USD 12 months Unqual US GAAP Cons 31/12/2017 m USD 12 months Unqual US GAAP 10-K 10-K Income statement Total revenues Gross sales Adjustments/excise tax Net sales Other revenues Cost of Goods Sold Research & Development expenses Other Operating Items EBITDA 70,697 70,697 n.a. 70,697 n.a. -7,028 -13,600 - 15,341 34,728 55,838 55,838 n.a 55,838 n.a. -5,035 -10,273 -11,297 29,233 40,653 40,653 n.a. 40,653 n.a. -2,429 -7,754 -7,242 23,228 Total Depreciation, Amort. & Depl. Depreciation Amortization & Depletion Operating Income After Depr. & Amort. Unusual/Exceptional Items Earnings Before Interest & Tax Financial Revenue Financial Expenses Financial P/L Other non Oper./Financial Inc./Exp. Earnings before tax Income taxes Earnings after tax Minority interest Other Extraordinary items after tax Preferred dividends Net Profit -5,742 -5,180 -562 28,986 -5,000 23,986 924 -20 904 -78 24,812 -6,327 18,485 n.a. n.a. n.a. n.a. 18,485 -4,320 -3,680 -640 24,913 n.a. 24,913 661 -9 652 - 204 25,361 -3,249 22,112 -3,025 -2,333 -692 20,203 na. 20,203 398 -6 392 -1 20,594 -2,387 18,207 n.a. n.a. -2,273 n.a. 15,934 n.a. n.a. n.a. n.a. 22,112 0 0 0 Ordinary dividends Dividend share capital other n.a. n.a. n.a. Consolidated data Cons 31/12/2019 m USD 12 months Unqual US GAAP 10-K Cons 31/12/2018 m USD 12 months Unqual US GAAP 10-K Cons 31/12/2017 m USD 12 months Unqual US GAAP 10-K Liabilities 3,760 Total Current Liabilities Loans 15,053 55 7,017 0 n.a. n.a. 2,249 12,749 0 Current loans & overdrafts Trade Creditors Other Other Short Term Debt Other Creditors Income Tax Payable Social Expenditure Payable Dividends Payable Other Current Liabilities n.a. 1,361 5,656 0 n.a. 491 n.a. n.a 624 n.a. n.a. 12,125 n.a. 770 2,990 0 n.a. 230 n.a. n.a. 2,760 n.a. 5,165 17,269 418 6,190 0 6,417 0 n.a. n.a Non Current Liabilities Total LT Interest Bearing Debt Bank Loans Debentures & Convertible Debt Lease Liabilities Other Long Term Interest Bearing Debt Other non-current liabilities Pension Fund Provisions Deferred Taxes Provisions Deferred Revenue Other LT Non-Interest Bearing Debt Minority Interest n.a. n.a. 418 n.a. 16,851 n.a. 1,039 n.a. n.a. 15,812 n.a. n.a. n.a. n.a. 6,190 n.a. 673 n.a. n.a. 5,517 n.a. n.a. n.a. n.a. 6,417 n.a. n.a. n.a. n.a. 6,417 n.a. Total Liabilities and Debt 32,322 13,207 10,177 101,054 45,851 45,851 n.a. n.a. 74,347 40,584 40,584 n.a. Total Shareholders Equity Share Capital Common Stock/Shares Participation Shares Preferred Shares Redeemable Preferred Shares Other Share Premiums Treasury Shares Revaluation Reserves Retained Eamings Other Shareholders Reserves 84,127 42,906 42,906 n.a. n.a. n.a. 41,221 n.a. n.a. 55,203 n.a. n.a. n.a. 55,692 -489 n.a n.a. 33,763 n.a. n.a. n.a. 33,990 -227 n.a. n.a. 41,981 -760 Total Liabilities and Equity 133,376 97,334 84,524 Net Assets Net Debt Enterprise Value 101,054 -54,382 439,546 84,127 -41,114 273,825 74,347 -41,711 379,110 Number of Employees 44,942 35,587 25,105 Consolidated data m USD Cons 31/12/2019 m USD 12 months Unqual US GAAP 10-K Cons Cons 31/12/2018 31/12/2017 m USD 12 months 12 months Unqual Unqual US GAAP US GAAP 10-K 10-K Assets 48,563 n.a. n.a. n.a. Total Current Assets Net Stated Inventory Raw Materials Work in Progress Finished Goods Inventory Prepayment and other Inv. Adj. Net Accounts Receivable Accounts Receivable Doubtful Accounts Others Other Current Assets Prepaid Expenses & Advances Deferred Charges Total Cash & Short Term Investment Cash or Equivalent Short Term Investment 66,225 n.a. n.a. n.a. n.a. n.a. 9,518 9,724 -206 56,707 8 1,844 n.a. 54,855 19,079 35,776 50,480 n.a. n.a n.a. n.a. n.a. 7,587 7,816 -229 42,893 n.a. 1,779 n.a. 41,114 10,019 31,095 n.a. n.a. 5,832 6,021 - 189 42,731 n.a. 1,020 n.a. 41,711 8,079 33,632 67,151 44,783 1,097 n.a. n.a. 14,338 n.a. n.a. 18,817 n.a. n.a. 46,854 24,683 899 n.a. n.a. 9,242 n.a n.a. 13,144 n.a. 35,961 13,721 798 n.a. n.a. 5,868 n.a. n.a. 8,679 n.a. n.a. n.a. n.a. n.a n.a. n.a. n.a. n.a. n.a. n.a n.a. n.a. Fixed Assets Net Property, Plant & Equipment Land Total Land Depreciation Net Stated land Buildings Total Buildings Depreciation Net Buildings Plant & Machinery Plant & Machinery Depreciation Net Stated Plant & Machinery Transportation Equipment Transportation Equipment Depreciation Net Transportation Equipment Leased Assets Leased Assets Depreciation Net Leased Assets Other Property Plant & Equipment Other Property Plant & Equip. Deprec. Net Other Property Plant & Equipment Accumulated Deprec., n.e.s. Intangibles Goodwill Other Intangibles Other fixed assets Exploration Long Term Receivables Investments Long Term Associated Companies Investment Properties Other Long Term Assets n.a. n.a 21,194 n.a. n.a. -10,663 19,609 18,715 894 2,759 n.a. n.a. n.a. n.a. n.a. 2,759 n.a. n.a. n.a. 8,288 n.a. n.a. -6,890 19,595 18,301 1,294 2,576 n.a. n.a n.a. n.a. n.a. 2,576 n.a n.a. n.a. 2,992 n.a. n.a. -4,616 20,105 18,221 1,884 2,135 n.a. n.a n.a. n.a. n.a. 2,135 Total Assets 133,376 97,334 84,524Step by Step Solution
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