$2.3 B

AIN Mkt cap, 15-Oct-2018

$486.2 M

Albany International Revenue Q2, 2018
Albany International Gross profit (Q2, 2018)173.8 M
Albany International Gross profit margin (Q2, 2018), %35.8%
Albany International Net income (Q2, 2018)40.8 M
Albany International EBIT (Q2, 2018)63.5 M
Albany International Cash, 30-Jun-2018154.7 M
Albany International EV2.6 B

Albany International Revenue Breakdown

Embed Graph

Albany International revenue breakdown by business segment: 68.4% from Machine Clothing and 31.6% from Albany Engineered Composites

Albany International revenue breakdown by geographic segment: 5.7% from China , 7.0% from Brazil , 6.6% from France, 17.1% from Switzerland , 53.2% from United States and 10.4% from Other

Albany International Income Statement

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Revenue

745.3m709.9m779.8m863.7m

Revenue growth, %

(5%)10%11%

Cost of goods sold

431.2m479.3m567.9m

Gross profit

278.7m300.6m295.8m

Gross profit Margin, %

39%39%34%

R&D expense

44.8m40.3m41.2m

General and administrative expense

146.2m160.1m165.0m

Operating expense total

214.8m208.8m219.6m

EBIT

63.9m91.8m76.2m

EBIT margin, %

9%12%9%

Interest expense

11.8m15.5m18.6m

Interest income

1.9m2.1m1.5m

Pre tax profit

51.5m78.3m54.7m

Income tax expense

(5.8m)25.5m22.1m

Net Income

17.7m41.7m57.3m52.8m32.6m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018

Revenue

172.3m178.8m172.3m203.2m191.3m199.3m215.6m222.1m230.0m486.2m

Cost of goods sold

117.7m103.0m99.8m124.9m118.9m123.4m152.5m142.7m148.3m312.4m

Gross profit

54.6m75.7m72.5m78.3m72.4m75.9m63.1m79.4m81.7m173.8m

Gross profit Margin, %

32%42%42%39%38%38%29%36%36%36%

General and administrative expense

39.9m35.5m39.4m43.5m38.0m40.9m41.8m41.1m41.9m78.6m

Operating expense total

39.9m35.5m39.4m43.5m38.0m40.9m41.8m41.1m41.9m78.6m

EBIT

3.0m25.8m22.3m17.9m24.8m22.1m9.2m22.3m20.8m63.5m

EBIT margin, %

2%14%13%9%13%11%4%10%9%13%

Interest expense

2.7m2.7m2.2m3.7m3.7m4.3m4.3m4.4m4.3m8.9m

Pre tax profit

21.9m20.4m20.9m17.5m3.0m19.0m15.1m52.4m

Income tax expense

(364.0k)12.2m7.0m6.1m7.5m6.6m1.8m3.8m4.6m11.6m

Net Income

4.7m10.7m11.2m11.8m12.2m(2.1m)9.7m13.3m10.1m13.4m11.0m1.2m15.2m10.5m40.8m

Albany International Balance Sheet

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Cash

222.7m179.8m185.1m181.7m183.7m

Accounts Receivable

163.5m158.2m146.4m171.2m202.7m

Inventories

112.7m107.3m106.4m133.9m136.5m

Current Assets

522.5m460.1m452.1m501.3m543.7m

PP&E

418.8m395.1m357.5m422.6m454.3m

Goodwill

78.9m71.7m66.4m160.4m166.8m

Total Assets

1.2b1.0b1.0b1.3b1.4b

Accounts Payable

36.4m34.8m26.8m43.3m44.9m

Short-term debt

51.7m1.8m

Current Liabilities

158.5m183.4m126.2m200.0m161.5m

Long-term debt

300.1m222.1m265.1m432.9m514.1m

Total Debt

300.1m222.1m265.1m432.9m515.9m

Total Liabilities

752.1m788.2m

Common Stock

40.0k37.0k37.0k37.0k37.0k

Additional Paid-in Capital

416.7m419.0m423.1m426.0m428.4m

Retained Earnings

434.6m456.1m492.0m522.9m534.1m

Total Equity

547.8m513.6m502.6m511.3m573.0m

Debt to Equity Ratio

0.8 x0.9 x

Debt to Assets Ratio

0.3 x0.4 x

Financial Leverage

2.1 x2 x2 x2.5 x2.4 x

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018

Cash

212.8m208.4m206.8m195.5m170.8m182.5m171.8m169.6m176.0m196.2m143.3m138.8m153.5m151.4m154.7m

Accounts Receivable

158.8m152.4m148.5m147.5m163.4m161.0m151.9m150.8m176.3m170.7m174.3m193.1m199.9m248.5m249.5m

Inventories

119.0m121.4m123.9m121.6m104.8m109.6m110.3m110.4m145.4m138.7m150.5m151.5m157.1m100.0m97.7m

Current Assets

522.7m507.9m503.2m487.4m456.1m476.8m454.5m452.7m513.6m522.2m484.6m503.4m531.4m567.7m586.8m

PP&E

416.4m415.3m414.8m408.1m380.9m379.1m365.7m356.9m440.2m441.6m432.5m446.8m452.0m459.4m450.7m

Goodwill

78.0m78.9m78.6m74.0m65.7m67.5m67.6m68.4m98.6m134.7m161.1m164.3m166.0m168.3m165.5m

Total Assets

1.2b1.1b1.1b1.1b1.0b1.0b975.4m1.0b1.2b1.3b1.3b1.3b1.3b1.4b1.4b

Accounts Payable

39.2m35.1m35.7m32.2m36.4m32.3m28.7m31.9m40.6m36.7m43.8m46.7m45.1m45.7m54.8m

Short-term debt

51.8m1.8m1.8m

Current Liabilities

234.9m141.6m142.0m139.5m177.7m174.1m174.2m120.4m136.2m147.1m188.1m204.2m213.1m175.0m196.5m

Long-term debt

252.1m299.1m283.1m283.1m232.1m252.1m220.1m255.1m485.2m490.0m428.5m444.0m453.6m518.7m523.2m

Total Debt

252.1m299.1m283.1m283.1m232.1m252.1m220.1m255.1m485.2m490.0m428.5m444.0m505.3m520.5m525.0m

Total Liabilities

650.1m597.1m579.4m572.5m515.2m531.6m497.7m492.2m733.7m740.5m733.5m766.2m785.0m805.2m830.8m

Common Stock

40.0k40.0k40.0k40.0k37.0k37.0k37.0k37.0k37.0k37.0k37.0k37.0k37.0k37.0k37.0k

Additional Paid-in Capital

400.0m417.4m418.1m418.5m420.5m422.2m422.6m424.2m424.9m425.3m427.0m427.5m428.1m428.9m429.6m

Retained Earnings

430.7m440.4m446.6m453.3m463.2m455.6m459.8m500.0m504.9m512.5m528.2m523.9m533.7m533.8m558.6m

Total Equity

514.2m549.4m559.4m539.5m486.4m491.9m477.8m522.7m515.6m525.1m528.6m542.1m564.7m595.1m591.7m

Debt to Equity Ratio

0.5 x0.5 x0.5 x0.5 x0.5 x0.5 x0.5 x0.5 x0.9 x0.9 x0.8 x0.8 x0.9 x0.9 x

Debt to Assets Ratio

0.2 x0.3 x0.2 x0.3 x0.2 x0.2 x0.2 x0.3 x0.4 x0.4 x0.3 x0.3 x0.4 x0.4 x

Financial Leverage

2.3 x2.1 x2 x2.1 x2.1 x2.1 x2 x1.9 x2.4 x2.4 x2.4 x2.4 x2.4 x2.4 x2.4 x

Albany International Cash Flow

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Net Income

17.7m41.7m57.3m52.8m32.6m

Depreciation and Amortization

57.2m56.6m60.1m67.5m72.0m

Accounts Receivable

(8.9m)(6.6m)(404.0k)(12.7m)(21.9m)

Inventories

5.7m(744.0k)(8.3m)(12.5m)3.1m

Accounts Payable

955.0k640.0k(6.0m)2.1m2.9m

Cash From Operating Activities

62.6m84.2m95.9m79.5m64.2m

Purchases of PP&E

(61.8m)(58.2m)(48.6m)(71.2m)(85.5m)

Cash From Investing Activities

(41.4m)(57.7m)(47.8m)(253.6m)(87.6m)

Long-term Borrowings

(102.2m)(34.4m)(84.0m)

Dividends Paid

(13.9m)(19.7m)(21.1m)(21.8m)(21.9m)

Cash From Financing Activities

3.9m(50.5m)(27.3m)173.5m12.9m

Net Change in Cash

5.3m(3.4m)2.0m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018

Net Income

4.7m10.7m11.2m11.8m12.2m(2.1m)9.7m13.3m10.1m13.4m11.0m1.2m15.2m10.5m40.8m

Depreciation and Amortization

14.2m14.1m14.3m13.7m13.5m13.4m13.0m13.1m15.1m16.5m14.6m15.2m18.1m20.9m40.6m

Accounts Receivable

5.8m11.0m3.3m(4.4m)(13.7m)4.2m5.1m(902.0k)(10.4m)4.8m(741.0k)(14.4m)(4.6m)(31.5m)(44.4m)

Inventories

290.0k(9.0m)(2.0m)(1.3m)(3.1m)(4.1m)(3.6m)(1.3m)(6.0m)(5.5m)(14.9m)1.7m(3.9m)(9.2m)(10.6m)

Accounts Payable

4.5m(1.3m)555.0k(2.1m)3.5m(4.9m)(3.1m)1.6m1.3m(4.4m)3.5m(1.5m)(4.8m)(2.5m)8.9m

Cash From Operating Activities

8.8m32.7m22.5m6.4m10.9m41.9m4.0m18.6m29.2m8.4m17.9m(18.9m)16.7m

Purchases of PP&E

(18.4m)(14.6m)(12.8m)(18.7m)(12.2m)(18.5m)(9.0m)(8.0m)(20.1m)(21.9m)(25.0m)(21.4m)(15.3m)(15.8m)(39.1m)

Cash From Investing Activities

(6.1m)(14.9m)(11.9m)(18.9m)(9.4m)(18.8m)(9.3m)(8.1m)(206.0m)(17.8m)(25.1m)(21.7m)(15.5m)(15.8m)(39.2m)

Dividends Paid

(4.7m)(4.8m)(4.8m)(5.1m)(5.1m)(5.1m)(5.4m)(5.4m)(5.5m)(5.5m)(5.5m)(5.5m)(5.5m)(5.5m)(11.0m)

Cash From Financing Activities

(16.0m)(6.7m)(21.8m)(6.2m)5.7m14.7m(37.6m)(15.4m)194.7m7.0m(11.2m)10.2m4.4m(2.5m)(3.6m)

Albany International Ratios

USDY, 2018

EV/EBIT

41.3 x

EV/CFO

156.6 x

Debt/Equity

0.9 x

Debt/Assets

0.4 x

Financial Leverage

2.4 x
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