$2.2 B

BEL Mkt cap, 04-Dec-2018

$193.2 M

Belmond Revenue Q3, 2018
Belmond Gross profit (Q3, 2018)113.1 M
Belmond Gross profit margin (Q3, 2018), %58.5%
Belmond Cash, 30-Sep-2018145.5 M
Belmond EV2.8 B

Belmond Revenue Breakdown

Embed Graph

Belmond revenue breakdown by business segment: 11.3% from Owned Trains & Cruises, 86.6% from Owned Hotels and 2.1% from Other

Belmond Income Statement

Annual

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

Revenue

594.1m585.7m551.4m549.8m561.0m

Revenue growth, %

(6%)0%2%

Cost of goods sold

267.9m262.6m243.6m240.1m239.9m

Gross profit

326.2m323.1m307.8m309.7m321.1m

Gross profit Margin, %

55%55%56%56%57%

General and administrative expense

227.3m219.6m206.2m198.6m238.3m

Operating expense total

580.3m272.8m510.1m492.1m554.7m

Depreciation and amortization

48.7m52.0m50.5m52.4m62.9m

EBIT

54.4m61.5m58.7m6.1m

EBIT margin, %

9%11%11%1%

Interest expense

34.3m36.8m32.1m29.2m32.5m

Interest income

1.1m1.4m926.0k853.0k1.1m

Pre tax profit

8.1m8.3m24.4m(34.9m)

Income tax expense

(17.6m)15.5m(17.0m)(16.4m)(6.6m)

Net Income

(1.7m)15.9m36.4m(44.9m)

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q4, 2016Q1, 2017Q2, 2017Q3, 2017Q4, 2017Q1, 2018Q2, 2018Q3, 2018

Revenue

187.2m102.5m175.6m183.5m99.5m160.8m168.4m97.4m154.5m183.7m114.2m95.4m165.9m183.0m117.3m89.7m171.6m193.2m

Cost of goods sold

80.4m49.9m78.6m78.7m47.8m70.2m70.7m45.1m69.4m72.0m53.6m45.9m66.8m72.0m55.1m43.0m78.3m80.1m

Gross profit

106.7m52.6m97.0m104.8m51.7m90.6m97.7m52.3m85.1m111.8m60.6m49.4m99.0m111.0m62.2m46.7m93.3m113.1m

Gross profit Margin, %

57%51%55%57%52%56%58%54%55%61%53%52%60%61%53%52%54%59%

General and administrative expense

58.1m50.8m58.2m56.9m48.0m54.6m54.5m46.6m50.3m53.3m48.5m51.8m73.6m59.4m54.1m56.3m69.5m67.5m

Operating expense total

149.2m112.8m149.6m147.6m60.6m142.9m141.5m104.8m133.0m139.4m61.3m111.4m163.7m148.4m76.6m115.3m169.7m162.6m

Depreciation and amortization

10.7m12.1m12.8m12.1m12.6m12.4m12.2m13.1m13.3m13.2m12.8m13.7m15.1m17.1m17.0m15.9m14.8m15.0m

EBIT

(8.8m)37.7m27.1m(7.3m)21.7m44.8m(500.0k)(15.9m)2.3m34.7m(15.0m)(25.4m)

EBIT margin, %

(9%)23%16%(7%)14%24%0%(17%)1%19%(13%)(28%)

Interest expense

8.9m9.5m8.5m8.4m7.6m6.5m10.1m7.5m7.7m7.8m6.1m7.7m7.9m9.0m7.9m8.1m8.4m8.4m

Interest income

241.0k402.0k298.0k217.0k263.0k187.0k234.0k116.0k177.0k289.0k300.0k146.0k196.0k240.0k500.0k349.0k212.0k204.0k

Pre tax profit

15.1m5.0m13.2m(18.9m)30.4m17.5m(11.8m)20.2m38.7m(6.3m)(23.7m)(6.4m)3.7m(22.7m)(1.4m)8.6m

Income tax expense

10.2m(15.2m)(9.3m)(16.3m)(11.4m)9.6m(14.3m)(20.4m)(8.8m)5.3m2.1m(20.7m)(11.0m)15.7m(14.5m)

Net Income

(9.5m)15.3m9.5m(1.5m)8.3m22.9m6.8m(18.0m)(5.0m)7.7m(29.7m)(14.9m)

Belmond Balance Sheet

Annual

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

Cash

123.2m135.1m135.6m153.4m180.2m

Accounts Receivable

30.3m27.1m25.8m34.4m

Prepaid Expenses

17.8m13.3m12.3m13.3m

Inventories

45.1m30.5m25.6m23.9m23.1m

Current Assets

281.8m231.5m216.3m229.4m266.8m

PP&E

1.2b1.1b1.1b1.2b

Goodwill

156.9m132.6m114.0m113.3m120.2m

Total Assets

1.9b1.7b1.5b1.5b1.7b

Accounts Payable

23.7m24.9m15.8m16.4m15.8m

Short-term debt

71.0m5.5m5.3m5.3m6.4m

Current Liabilities

209.5m130.0m125.1m122.0m134.5m

Long-term debt

472.6m599.1m577.5m585.8m700.8m

Total Debt

543.6m604.7m582.9m591.1m707.2m

Total Liabilities

969.2m893.0m851.1m837.2m954.8m

Additional Paid-in Capital

992.9m1.0b975.4m979.5m985.6m

Retained Earnings

7.6m5.8m16.2m52.8m13.3m

Total Equity

910.6m762.3m658.4m686.8m698.8m

Debt to Equity Ratio

0.8 x0.9 x0.9 x1 x

Debt to Assets Ratio

0.4 x0.4 x0.4 x0.4 x

Financial Leverage

2.1 x2.2 x2.3 x2.2 x2.4 x

Quarterly

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

Cash

153.1m134.4m132.9m158.8m110.5m156.7m174.6m121.0m144.5m177.9m131.0m113.9m205.4m134.6m160.9m145.5m

Accounts Receivable

32.2m35.3m32.5m28.6m30.9m32.3m28.7m37.4m43.0m51.1m

Prepaid Expenses

33.9m20.0m16.2m14.1m12.9m11.6m14.6m13.7m13.4m13.4m

Inventories

45.3m44.9m44.5m40.8m27.7m28.2m25.9m27.4m27.4m26.9m24.0m24.5m23.9m22.4m22.1m21.8m

Current Assets

284.8m271.8m258.7m275.3m221.5m253.5m265.8m215.6m235.3m267.7m220.7m213.5m309.9m242.6m280.2m254.2m

PP&E

1.1b1.1b1.1b1.1b1.1b1.1b1.1b1.2b1.2b1.2b

Goodwill

159.6m148.6m149.6m141.2m125.7m122.5m115.9m116.1m115.4m116.0m114.9m123.0m125.1m122.0m115.6m114.7m

Total Assets

1.9b1.8b1.8b1.8b1.6b1.6b1.6b1.5b1.5b1.6b1.5b1.6b1.7b1.7b1.7b1.7b

Accounts Payable

22.7m21.0m26.2m25.1m17.5m23.0m20.1m13.0m15.3m17.1m13.2m18.6m16.3m15.8m18.4m26.0m

Short-term debt

194.8m5.5m5.5m5.6m5.3m5.4m5.4m5.4m5.3m5.4m5.3m51.2m6.8m6.5m6.4m6.4m

Current Liabilities

356.3m152.5m153.4m153.7m132.6m148.4m156.0m138.8m146.4m144.2m136.3m196.9m161.3m158.8m178.4m194.3m

Long-term debt

351.3m546.3m540.9m621.3m591.0m595.8m594.7m584.5m594.9m596.2m587.1m596.7m698.3m745.8m778.1m740.1m

Total Debt

546.1m551.8m546.4m626.9m596.3m601.2m600.1m589.9m600.3m601.6m592.4m647.9m705.0m752.3m784.5m746.4m

Total Liabilities

997.8m978.5m975.1m961.6m883.6m902.6m908.4m860.4m875.5m889.9m843.6m915.2m994.8m1.0b1.1b1.0b

Additional Paid-in Capital

988.7m993.7m995.9m998.7m1.0b990.6m983.5m974.8m976.3m978.4m981.0m983.0m984.5m986.4m988.2m989.8m

Retained Earnings

25.6m7.9m(3.8m)7.3m16.0m14.9m23.2m46.1m40.2m35.3m43.0m(1.0m)10.1m

Total Equity

920.7m841.4m858.1m818.3m701.5m713.3m681.1m670.3m670.7m698.3m684.3m697.5m723.7m698.3m668.5m674.7m

Debt to Equity Ratio

0.9 x0.8 x0.9 x0.9 x0.9 x0.9 x0.9 x0.9 x1 x1.1 x1.2 x1.1 x

Debt to Assets Ratio

0.4 x0.4 x0.4 x0.4 x0.4 x0.4 x0.4 x0.4 x0.4 x0.4 x0.5 x0.4 x

Financial Leverage

2.1 x2.2 x2.1 x2.2 x2.3 x2.3 x2.3 x2.3 x2.3 x2.3 x2.2 x2.3 x2.4 x2.4 x2.6 x2.6 x

Belmond Cash Flow

Annual

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

Net Income

(1.7m)15.9m36.4m(44.9m)

Depreciation and Amortization

48.7m52.0m50.5m52.4m62.9m

Accounts Receivable

414.0k1.6m(536.0k)2.0m(633.0k)

Inventories

(1.7m)2.3m2.0m(504.0k)2.5m

Accounts Payable

(1.3m)3.2m(5.7m)877.0k(2.5m)

Cash From Operating Activities

67.1m51.3m67.9m61.5m50.7m

Cash From Investing Activities

(44.2m)(22.4m)(17.4m)(52.4m)(120.8m)

Short-term Borrowings

(133.0k)

Long-term Borrowings

(565.1m)(5.4m)(13.9m)(5.7m)

Dividends Paid

(20.0k)(15.0k)

Cash From Financing Activities

7.0m(10.9m)(43.8m)9.6m89.8m

Net Change in Cash

11.6m481.0k17.8m26.7m

Free Cash Flow

478.0k(12.1m)11.5m6.4m(17.1m)

Quarterly

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

Net Income

(9.5m)5.9m15.4m(1.5m)6.8m29.7m(18.0m)(22.9m)(15.3m)(14.9m)

Depreciation and Amortization

34.5m12.1m24.9m37.0m12.6m25.0m37.2m13.1m26.4m39.6m13.7m28.8m45.9m15.9m30.6m45.6m

Accounts Receivable

(7.1m)(440.0k)(5.1m)(5.5m)(4.0m)(6.0m)(5.5m)(684.0k)(3.1m)(4.0m)(2.5m)(10.3m)(7.1m)(11.5m)(21.8m)(25.3m)

Inventories

(857.0k)(68.0k)850.0k1.4m875.0k804.0k2.0m(904.0k)(1.0m)(375.0k)365.0k618.0k1.7m1.2m173.0k297.0k

Accounts Payable

(2.8m)(3.9m)1.6m1.6m(5.5m)(309.0k)(699.0k)(3.9m)(518.0k)948.0k(4.6m)(697.0k)(1.1m)(2.2m)1.1m10.1m

Cash From Operating Activities

82.9m(12.0m)18.5m61.7m(1.0m)38.3m81.3m(1.8m)20.3m67.9m(9.5m)11.7m64.2m(7.3m)25.6m90.1m

Cash From Investing Activities

(37.7m)26.6m(658.0k)(11.9m)(17.4m)7.0m(3.5m)(10.9m)(24.8m)(37.8m)(11.9m)(96.3m)(111.6m)(76.0m)(121.4m)(164.0m)

Long-term Borrowings

(1.4m)(2.7m)(4.1m)(1.3m)(11.2m)(12.6m)(1.7m)(2.7m)(548.8m)(1.6m)

Dividends Paid

(20.0k)(20.0k)(20.0k)(7.0k)(7.0k)(7.0k)

Cash From Financing Activities

13.4m(3.8m)(9.1m)(9.1m)(1.4m)(20.2m)(32.5m)(3.3m)12.4m11.1m(1.7m)42.4m91.0m38.3m82.3m43.1m

Net Change in Cash

(24.6m)21.6m39.5m(14.6m)8.9m42.3m(22.5m)(39.6m)51.9m(42.3m)

Free Cash Flow

30.5m(30.0m)(21.5m)(17.9m)6.9m38.7m(12.8m)(6.8m)27.4m(21.5m)(15.7m)21.1m(37.9m)

Belmond Ratios

USDY, 2018

EV/CFO

30.8 x

Debt/Equity

1.1 x

Debt/Assets

0.4 x

Financial Leverage

2.6 x
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Belmond Employee Rating

3.654 votes
Culture & Values
3.8
Work/Life Balance
3.5
Senior Management
3.3
Salary & Benefits
3.6
Career Opportunities
3.5
Source