Fiberweb

Fiberweb's Cash & Cash Equivalents fell 91.8% yoy to GBP 15.0 mil in 2012

By Helgi Analytics - April 2, 2020

Fiberweb's total assets reached GBP 243 mil at the end of 2012, down 44.4% compared to the previous year. Current ...

Profit Statement 2010 2011 2012
Sales GBP mil 269 298 300
Gross Profit GBP mil 68.4 62.4 67.0
EBITDA GBP mil 45.2 41.2 42.6
EBIT GBP mil 17.3 8.70 7.60
Financing Cost GBP mil 14.8 15.9 1.80
Pre-Tax Profit GBP mil 2.50 -7.20 5.80
Net Profit GBP mil 2.40 -3.00 3.30
Balance Sheet 2010 2011 2012
Total Assets GBP mil 492 437 243
Non-Current Assets GBP mil 325 150 204
Current Assets GBP mil 167 287 96.0
Working Capital GBP mil 118 -54.8 80.0
Shareholders' Equity GBP mil 179 179 174
Liabilities GBP mil 89.4 228 38.7
Total Debt GBP mil 394 30.4 30.3
Net Debt GBP mil 367 -152 15.3
Ratios 2010 2011 2012
ROE % 1.37 -1.68 1.87
ROCE % 0.549 -1.11 1.74
Gross Margin % 25.4 21.0 22.3
EBITDA Margin % 16.8 13.8 14.2
EBIT Margin % 6.43 2.92 2.53
Net Margin % 0.892 -1.01 1.10
Net Debt/EBITDA 8.13 -3.69 0.359
Net Debt/Equity 2.06 -0.850 0.088
Cost of Financing % 3.90 7.50 5.93
Cash Flow 2010 2011 2012
Total Cash From Operations GBP mil -31.2 150 -303
Total Cash From Investing GBP mil -36.0 -31.2 150
Total Cash From Financing GBP mil -10.9 -3.90 -13.8
Net Change In Cash GBP mil -78.1 114 -167
Cash Conversion Cycle days 180 -106 110
Cash Earnings GBP mil 30.3 29.5 38.3
Free Cash Flow GBP mil -67.2 118 -154

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summary Unit 2005 2006 2007 2008 2009 2010 2011 2012
income statement                
Sales GBP mil   500 474 513 454 269    
Gross Profit GBP mil   85.1 60.9 77.0 88.6 68.4    
EBIT GBP mil   -35.3 -89.3 -15.4 5.90 17.3    
Net Profit GBP mil   -43.2 -93.4 -22.0 0.500 2.40    
ROE %   -14.6 -38.7 -11.5 0.271 1.37    
EBIT Margin %   -7.06 -18.9 -3.00 1.30 6.43    
Net Margin %   -8.64 -19.7 -4.29 0.110 0.892    
Employees   2,948 2,429 2,158 1,936 1,803    
balance sheet                
Total Assets GBP mil   645 473 546 476 492    
Non-Current Assets GBP mil   429 300 355 322 325    
Current Assets GBP mil   217 173 191 154 167    
Shareholders' Equity GBP mil   297 185 197 173 179    
Liabilities GBP mil   95.9 105 126 94.9 89.4    
Current Liabilities GBP mil   2.60 4.20 9.10 6.40 4.70   ...
Net Debt/EBITDA   4.59 8.65 7.25 6.74 8.13    
Net Debt/Equity   1.35 1.61 1.83 1.92 2.06    
Cost of Financing % ... 5.45 3.09 3.28 3.20 3.90    
cash flow                
Total Cash From Operations GBP mil   44.0 36.9 55.9 50.6 -31.2    
Total Cash From Investing GBP mil ... -31.5 -43.9 10.9 -14.3 -36.0    
Total Cash From Financing GBP mil ... -42.7 10.4 -75.3 -34.6 -10.9    
Net Change In Cash GBP mil ... -30.2 3.40 -8.50 1.70 -78.1    
income statement Unit 2005 2006 2007 2008 2009 2010 2011 2012
income statement                
Sales GBP mil   500 474 513 454 269    
Cost of Goods & Services GBP mil   415 413 436 366 201    
Gross Profit GBP mil   85.1 60.9 77.0 88.6 68.4    
Staff Cost GBP mil   101 90.2 86.6 89.0 85.4    
Other Cost GBP mil   -103 -63.7 -59.2 -49.7 -62.2    
EBITDA GBP mil   87.4 34.4 49.6 49.3 45.2    
Depreciation GBP mil   123 124 65.0 43.4 27.9    
EBIT GBP mil   -35.3 -89.3 -15.4 5.90 17.3    
Financing Cost GBP mil   14.9 11.6 11.5 12.0 14.8    
Extraordinary Cost GBP mil   -0.400 -0.800 -1.70 0 0    
Pre-Tax Profit GBP mil   -49.8 -100 -25.2 -6.10 2.50    
Tax GBP mil   -6.60 -6.70 -3.20 -6.60 0.100    
Net Profit GBP mil   -43.2 -93.4 -22.0 0.500 2.40    
growth rates                
Total Revenue Growth % ... -17.1 -5.26 8.28 -11.4 -40.7    
Operating Cost Growth % ... -111 -1,252 3.40 43.4 -41.0    
EBITDA Growth % ... -6.02 -60.6 44.2 -0.605 -8.32    
EBIT Growth % ... -201 153 -82.8 -138 193    
Pre-Tax Profit Growth % ... -347 101 -74.8 -75.8 -141    
Net Profit Growth % ... -382 116 -76.4 -102 380    
ratios                
ROE %   -14.6 -38.7 -11.5 0.271 1.37    
ROCE % ... -8.04 -18.1 -4.66 0.106 0.549    
Gross Margin %   17.0 12.9 15.0 19.5 25.4    
EBITDA Margin %   17.5 7.26 9.67 10.9 16.8    
EBIT Margin %   -7.06 -18.9 -3.00 1.30 6.43    
Net Margin %   -8.64 -19.7 -4.29 0.110 0.892    
Cost of Financing % ... 5.45 3.09 3.28 3.20 3.90    
Net Debt/EBITDA   4.59 8.65 7.25 6.74 8.13    
balance sheet Unit 2005 2006 2007 2008 2009 2010 2011 2012
balance sheet                
Non-Current Assets GBP mil   429 300 355 322 325    
Property, Plant & Equipment GBP mil   331 266 305 219 214    
Intangible Assets GBP mil   96.4 30.5 38.6 36.7 36.6    
Goodwill GBP mil   93.0 28.0 37.4 35.1 34.7    
Current Assets GBP mil   217 173 191 154 167    
Inventories GBP mil   82.1 62.7 66.8 48.9 49.4    
Receivables GBP mil   97.4 92.1 97.2 71.5 76.6    
Cash & Cash Equivalents GBP mil   35.2 17.1 26.4 32.4 26.1    
Total Assets GBP mil   645 473 546 476 492    
Shareholders' Equity GBP mil   297 185 197 173 179    
Of Which Minority Interest GBP mil   0 0 0.600 0 0    
Liabilities GBP mil   95.9 105 126 94.9 89.4    
Long-Term Debt GBP mil   184 132 163 156 170    
Deferred Tax Liabilities GBP mil   35.3 24.3 21.9 15.1 15.6    
Current Liabilities GBP mil   2.60 4.20 9.10 6.40 4.70   ...
Short-Term Debt GBP mil   253 183 223 209 224    
Trade Payables GBP mil   10.3 18.1 10.5 11.6 7.60    
Provisions GBP mil   77.3 76.9 96.2 68.4 68.8   ...
Equity And Liabilities GBP mil   645 473 546 476 492    
growth rates                
Total Asset Growth % ... -14.4 -26.7 15.4 -12.8 3.30    
Shareholders' Equity Growth % ... 0.169 -37.6 6.10 -12.2 3.48    
Net Debt Growth % ... 372 -25.7 20.9 -7.67 10.6    
Total Debt Growth % ... 294 -27.8 22.7 -5.59 7.93    
ratios                
Total Debt GBP mil   436 315 386 365 394    
Net Debt GBP mil   401 298 360 332 367    
Working Capital GBP mil   169 137 154 109 118    
Capital Employed GBP mil   598 436 508 431 443    
Net Debt/Equity   1.35 1.61 1.83 1.92 2.06    
Cost of Financing % ... 5.45 3.09 3.28 3.20 3.90    
cash flow Unit 2005 2006 2007 2008 2009 2010 2011 2012
cash flow                
Net Profit GBP mil   -43.2 -93.4 -22.0 0.500 2.40    
Depreciation GBP mil   123 124 65.0 43.4 27.9    
Non-Cash Items GBP mil ... 187 -25.9 29.7 -38.0 -51.9    
Change in Working Capital GBP mil ... -223 32.5 -16.8 44.7 -9.60    
Total Cash From Operations GBP mil   44.0 36.9 55.9 50.6 -31.2    
Capital Expenditures GBP mil   -47.8 -32.4 -33.3 -26.1 -33.0    
Other Investments GBP mil ... 16.3 -11.5 44.2 11.8 -3.00    
Total Cash From Investing GBP mil ... -31.5 -43.9 10.9 -14.3 -36.0    
Issuance Of Debt GBP mil ... 325 -121 71.4 -21.6 28.9    
Total Cash From Financing GBP mil ... -42.7 10.4 -75.3 -34.6 -10.9    
Net Change In Cash GBP mil ... -30.2 3.40 -8.50 1.70 -78.1    
ratios                
Days Sales Outstanding days   71.1 71.0 69.2 57.5 104    
Days Sales Of Inventory days   72.2 55.5 55.9 48.8 89.8    
Days Payable Outstanding days   9.06 16.0 8.79 11.6 13.8    
Cash Conversion Cycle days   134 110 116 94.7 180    
Cash Earnings GBP mil   79.5 30.3 43.0 43.9 30.3    
Free Cash Flow GBP mil ... 12.5 -7.00 66.8 36.3 -67.2    
other data Unit 2005 2006 2007 2008 2009 2010 2011 2012
other data                
ROA %   -6.17 -16.7 -4.32 0.098 0.496    
Gross Margin %   17.0 12.9 15.0 19.5 25.4    
Employees   2,948 2,429 2,158 1,936 1,803    
Cost Per Employee USD per month   5,261 6,191 6,132 5,975 6,095    
Cost Per Employee (Local Currency) GBP per month   2,858 3,095 3,344 3,831 3,947    
Staff Cost (As % Of Total Cost) %   18.9 16.0 16.4 19.9 33.9    
Effective Tax Rate %   13.3 6.69 12.7 108 4.00    
Domestic Sales GBP mil ... ... ... 17.9 18.2 19.1   ...
Capital Expenditures (As % of Sales) %   9.56 6.84 6.49 5.75 12.3    
Revenues From Abroad GBP mil ... ... ... 436 251 279   ...
Revenues From Abroad (As % Of Total) % ... ... ... 85.1 55.3 104   ...
Employees - Europe   1,311 1,020 907 824 619   ...
Employees - North America   1,327 937 828 715 484   ...
Employees - Rest Of World   310 472 423 397 700   ...
Sales from Technical Fabrics GBP mil   500 474 540 454 269   ...
Sales from Geosyntehtics GBP mil   297 272 352 272 219   ...
Sales from Other GBP mil   203 201 188 183 50.5   ...
Sales to UK GBP mil ... ... ... 17.9 18.2 19.1   ...
Sales to the USA GBP mil ... ... ... 183 170 125   ...
Sales to Sweden GBP mil ... ... ... 61.1 48.0 ... ... ...
Sales to Germany GBP mil ... ... ... 77.6 77.9 54.1   ...
Sales to Italy GBP mil ... ... ... 70.9 67.4 40.2   ...
Sales to France GBP mil ... ... ... ... ... 30.6   ...
Employees in Technical Fabrics ... ... ... ... ... 973   ...
Employees in Geosynthetics ... ... ... ... ... 130   ...
Employees in Other Segments ... ... ... ... ... 700   ...

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Sep 2014
Statistical Dossier
Sep 2014
Company Report

Fiberweb Ltd (Fiberweb), formerly Fiberweb Plc is a UK-based manufacturer of nonwoven fabrics. The Company produces spunbond polypropylene and polyester, pointbond polyethylene and polypropylene, carded fabrics, biocomponents, and composites. The Company also provides roofing underlays, rolls, flashings and tapes, building wraps, breathable roof laminates, or crop covers and fleeces for agricultural applications. Further, the Company provides industrial consumable products, such as automatic blanket cleaning fabrics, wipes and pads, shop cloths, plate wipes, multipurpose cloths for aerospace and automotive, impression cylinder fabrics, and dampener covers. Fiberweb plc was incorporated in 2006 and is headquartered in London, the United Kingdom. As of November 15, 2013, Fiberweb plc operates as a subsidiary of Polymer Group, Inc.

Finance

Fiberweb has been growing its sales by a year on average in the last 5 years. EBITDA has grown on average by 4.37% a year during that time to total of GBP 42.6 mil in 2012, or 14.2% of sales. That’s compared to 13.1% average margin seen in last five years.

The company netted GBP 3.30 mil in 2012 implying ROE of 1.87% and ROCE of 1.74%. Again, the average figures were -1.94% and -0.675%, respectively when looking at the previous 5 years.

Fiberweb’s net debt amounted to GBP 15.3 mil at the end of 2012, or 0.088 of equity. When compared to EBITDA, net debt was 0.359x, down when compared to average of 3.76x seen in the last 5 years.