Platform Specialty Products Corporation Financials

$941.1 M

Revenue Q2, 2017

$2.9 B

Mkt cap, 18-Apr-2018
Gross profit (Q2, 2017)399.9 M
Gross profit margin (Q2, 2017), %42.5%
Net income (Q2, 2017)(60 M)
EBIT (Q2, 2017)90.4 M
Cash, 30-Jun-2017427.1 M
EV7.8 B

Revenue/Financials

Income Statement

Annual

USDFY, 2014FY, 2015FY, 2016

Revenue

843.2 m2.5 b3.6 b

Revenue growth, %

202%41%

Cost of goods sold

446.6 m1.6 b2.1 b

Gross profit

396.6 m991.9 m1.5 b

Gross profit Margin, %

47%39%42%

R&D expense

26.2 m62.8 m84.4 m

Operating expense total

26.2 m62.8 m84.4 m

EBIT

9.5 m(71.6 m)253.4 m

EBIT margin, %

1%(3%)7%

Interest expense

37.9 m213.9 m375.7 m

Income tax expense

6.7 m(75.1 m)(28.6 m)

Net Income

(24.2 m)(304.4 m)(76.7 m)

Quarterly

USDQ1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017

Revenue

183.7 m196.8 m534.8 m675.1 m597.3 m823.8 m921.6 m890.5 m861.8 m941.1 m

Cost of goods sold

99.5 m93.6 m327.7 m406.5 m354.6 m467.8 m541 m515.4 m483.4 m541.2 m

Gross profit

84.2 m103.2 m207.1 m268.6 m242.7 m356 m380.6 m375.1 m378.4 m399.9 m

Gross profit Margin, %

46%52%39%40%41%43%41%42%44%42%

R&D expense

6.2 m6.4 m12.9 m18.4 m16.6 m19.9 m20.5 m20.9 m21.6 m25.1 m

Operating expense total

80.2 m79.9 m204.9 m224.6 m211.4 m303.9 m285.7 m295.2 m279.1 m309.5 m

EBIT

4 m23.4 m2.2 m44 m31.3 m52.1 m94.9 m79.9 m99.3 m90.4 m

EBIT margin, %

2%12%0%7%5%6%10%9%12%10%

Interest expense

7.7 m8 m39.4 m51.1 m52.7 m93.8 m97.4 m98.5 m89.4 m85 m

Income tax expense

(2.1 m)1.6 m(24.7 m)200 k(17.6 m)(18.4 m)(26.9 m)(20.4 m)(18.7 m)(11.1 m)

Net Income

(5.9 m)(80 k)13.9 m(26.3 m)(9.1 m)(121.8 m)(134.4 m)(8.1 m)65.9 m(23.6 m)(60 m)

Balance Sheet

Annual

USDFY, 2014FY, 2015FY, 2016

Cash

397.3 m432.2 m422.6 m

Accounts Receivable

319.2 m

Inventories

205.8 m517.5 m416.4 m

Current Assets

1.6 b2.3 b2.1 b

PP&E

491.6 m460.5 m

Goodwill

1.4 b4 b4.2 b

Total Assets

4.6 b10.2 b10.1 b

Accounts Payable

106.7 m450.3 m383.6 m

Current Liabilities

242.6 m1.1 b1.1 b

Long-term debt

1.4 b5.2 b5.1 b

Total Debt

5.1 b

Total Liabilities

7.2 b

Additional Paid-in Capital

2.8 b3.5 b4 b

Retained Earnings

(224.1 m)(532.7 m)(573.5 m)

Total Equity

2.6 b2.3 b2.9 b

Debt to Equity Ratio

1.8 x

Debt to Assets Ratio

0.5 x

Financial Leverage

1.8 x4.5 x3.5 x

Quarterly

USDQ1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017

Cash

316.6 m642.8 m281.7 m297.3 m672.2 m682 m329.7 m341.7 m714.1 m366.4 m427.1 m

Accounts Receivable

1.2 b1.2 b

Inventories

79.9 m80.5 m79.3 m460.9 m470 m466.9 m612.5 m572.7 m564.3 m516.7 m536.6 m

Current Assets

559.2 m889.5 m911.7 m2 b2.4 b2.3 b2.3 b2.3 b2.6 b2.3 b2.3 b

PP&E

280 m280.6 m266.9 m496.5 m480.3 m472.7 m456.4 m455.8 m

Goodwill

1 b1 b971.7 m2.9 b3 b2.8 b4.2 b4.4 b4.4 b4.3 b4.3 b

Total Assets

2.4 b2.8 b2.7 b8.1 b8.5 b8.1 b10.6 b10.7 b10.9 b10.3 b10.4 b

Accounts Payable

54.2 m57 m58.2 m389.5 m386.7 m386.1 m419.8 m393.9 m394.8 m410.4 m432.6 m

Short-term debt

7.9 m

Current Liabilities

107.1 m115.3 m141.3 m998.4 m858 m965.1 m1.2 b1.1 b1.6 b1.2 b1.2 b

Long-term debt

742.3 m740.5 m738.5 m3.4 b3.4 b3.4 b5.2 b5.2 b5.2 b5.1 b5.3 b

Total Debt

742.3 m740.5 m746.4 m3.4 b3.4 b3.4 b5.2 b5.2 b5.2 b5.1 b5.3 b

Total Liabilities

1.1 b1.1 b1.2 b5.3 b5.2 b5.2 b7.5 b7.5 b7.9 b7.3 b7.4 b

Additional Paid-in Capital

1.4 b1.7 b1.7 b2.8 b3.3 b3.3 b3.5 b3.5 b3.9 b4 b4 b

Retained Earnings

(201.6 m)(202 m)(190.1 m)(250.8 m)(263 m)(385.2 m)(667.5 m)(676.3 m)(571.6 m)(597.9 m)(659 m)

Total Equity

1.3 b1.6 b1.6 b2.1 b2.7 b2.3 b2.5 b2.6 b3.1 b3 b3 b

Financial Leverage

1.8 x1.7 x1.7 x3.8 x3.1 x3.6 x4.3 x4.2 x3.6 x3.4 x3.5 x

Cash Flow

Annual

USDFY, 2014FY, 2015FY, 2016

Net Income

13.5 m(195.6 m)(76.7 m)

Depreciation and Amortization

12.8 m12.8 m342.3 m

Accounts Receivable

6.2 m6.2 m(18.9 m)

Inventories

2.1 m2.1 m70.4 m

Accounts Payable

(200 k)(200 k)(67.3 m)

Cash From Investing Activities

(920.3 m)(920.3 m)(74.7 m)

Interest Paid

5.1 m5.1 m360.1 m

Income Taxes Paid

2.9 m2.9 m121.2 m

Quarterly

USDQ1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017

Net Income

(5.9 m)(80 k)13.9 m(26.3 m)(5.9 m)(5.9 m)(26.3 m)(26.3 m)(26.3 m)(23.6 m)(83.6 m)

Depreciation and Amortization

85.9 m172.9 m

Accounts Receivable

(120.1 m)(94.8 m)

Inventories

470 m466.9 m612.5 m572.7 m564.3 m(83.9 m)(86.5 m)

Accounts Payable

386.7 m386.1 m419.8 m393.9 m394.8 m32.9 m41.1 m

Cash From Investing Activities

(25.4 m)(48 m)

Ratios

USDY, 2017

EV/EBIT

86.2 x

Financial Leverage

3.5 x
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