NiseFood Corporation is analyzing the possibility to acquire KradFood Corp.Kradfood earnings have been under pressure in recent years, due to the change in consumer preferences. Consumers are now...

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Answered Same DayDec 12, 2022

Answer To: NiseFood Corporation is analyzing the possibility to acquire KradFood Corp.Kradfood earnings have...

Rochak answered on Dec 12 2022
45 Votes
P&L
    KradFoods Corp P&L Statement    EXHIBIT 1
    (million euros)
            2020    2021    2022
    Sales    Net sales    $6,545    $6,728    $7,001
    Initial Inventory     Beginning inventory    850    865    922
    Purchases     Purc
hases    3,338    3,431    3,571
    Final Inventory    Ending inventory    865    922    975
    COGS    Total cost of goods sold    $3,323    $3,374    $3,518
    Gross Margin    GROSS PROFIT    $3,222    $3,354    $3,483
    Operating Expenses        2,114    2,363    2,621
    EBITDA    Operating expense (b)    1,108    991    862    0.1231952578
    Depreciation        192    187    180    0.0257106128
    EBIT        916    804    682
    Interest Expense    Interest expense    121    133    142
    Profit Before Tax (PBT)    Net income before taxes    $795    $671    $540
    Tax (30%)    Provision for income taxes    239    201    162
    Net Income    Net income    $557    $470    $378
    Dividends Paid        334.03    281.70    227.01    60%
    Retained Earnings        222.684    187.80    151.34    40%
    Purchases as % sales        51.0%    51.0%    51.0%
    Operating Expenses % sales        32.3%    35.1%    37.4%
    EBITDA Margin        16.9%    14.7%    12.3%
    EBIT Margin        14.0%    11.9%    9.7%
    Net Income Margin        8.5%    7.0%    5.4%
    Capital expenditure        201    192    187
    Capital expenditure as % sales        3.1%    2.9%    2.7%
    Nisefood Corp P&L Statement    EXHIBIT 1
    (million euros)
            2022
    Sales    Net sales    $8,000
Balancesheet
    KradFoods Corp Balance Sheet
    (M euros)
        2020    2021    2022
    Cash    584    634    773
    Acc. Receivable    3,928    4,453    4,600
    Inventory    865    922    975
    Current Assets    5,377    6,009    6,348
    Fixed Assets    1,870    1,805    1,741
    Total Assets    7,247    7,814    8,089
    Banks (debt)    2,027    2,436    2,741
    Acc. Payable    992    951    749
    Deferred Taxes    40    20    9
    Current Liabilities    3,059    3,407    3,499
    Long Term Debt    2,010    2,041    2,072
    Total Liabilities    5,069    5,448    5,571
    Shareholders equity    2,178    2,366    2,517
    Total Liabilities & Net Worth    7,247    7,814    8,089
                4,825
                0.6892525639
Comparable Cos
        Universe of Comparable Companies in the Food Industry
            % Sales in Industry    Book Value    Equity Market Capitalization    Debt    EV    EBITDA    Net...
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