Financial analysis - PPT
-
Upload
lonan-carroll -
Category
Documents
-
view
38 -
download
0
Transcript of Financial analysis - PPT
![Page 1: Financial analysis - PPT](https://reader035.fdocuments.us/reader035/viewer/2022062419/55a5282b1a28abdf0e8b48ee/html5/thumbnails/1.jpg)
Financial analysisThomas LEFEBVRE, Yves-Marie SALAUN, Pablo LAIZ, LonanCAROLL, Mehdi VATRI, Bastien DANIEL
Group B
![Page 2: Financial analysis - PPT](https://reader035.fdocuments.us/reader035/viewer/2022062419/55a5282b1a28abdf0e8b48ee/html5/thumbnails/2.jpg)
Index
Company overview (I)
Context for analysis (II)
Financial structure (III)
Trend analysis (IV)
Comparative analysis (V)
Financial cash flows (VI)
Assessment of the risks (VII)
Conclusion and recommendations (VIII)
![Page 3: Financial analysis - PPT](https://reader035.fdocuments.us/reader035/viewer/2022062419/55a5282b1a28abdf0e8b48ee/html5/thumbnails/3.jpg)
Company overview
World leading company in nuclear
energy
Activities : mining-front end, reactors and
services, back end, renewable energies
Competitors : Siemens AG, Rosatom and
Schneider Electric
Consolidated sales revenue of 9,342
billion euros in 2012
Source : Areva
![Page 4: Financial analysis - PPT](https://reader035.fdocuments.us/reader035/viewer/2022062419/55a5282b1a28abdf0e8b48ee/html5/thumbnails/4.jpg)
Context for analysis
Over 50 % decline in share price
Japan disaster in 2011 – Negative income
3 opportunities of action plan “Active 2016” :
1. World energy demand doubled by 2050
2. Fossil fuels depletion
3. Eco-friendly energy provision
![Page 5: Financial analysis - PPT](https://reader035.fdocuments.us/reader035/viewer/2022062419/55a5282b1a28abdf0e8b48ee/html5/thumbnails/5.jpg)
Context for analysis
In 2012, early indicators of success, + 5,3 % in sales
revenues, operating income of 119 million
Remain unattractive investment prospect
Restructuring of investments
![Page 6: Financial analysis - PPT](https://reader035.fdocuments.us/reader035/viewer/2022062419/55a5282b1a28abdf0e8b48ee/html5/thumbnails/6.jpg)
Financial structure
• Balance sheet
Non current assets
Current assets
22107
9148
Stockholder equity
Non current liabilities
Current liabilities
5556
14107
11593
Total assets 31255 Total liabilities + SE 31255
![Page 7: Financial analysis - PPT](https://reader035.fdocuments.us/reader035/viewer/2022062419/55a5282b1a28abdf0e8b48ee/html5/thumbnails/7.jpg)
Financial structure
Current assets
- Current liabilities
9148
11593
= Cash injected in the production cycle (2245)
- Net treasury 1615
= Working capital (4060)
+ Non current assets 22107
= Capital employed 18047
Net debt
+ Shareholders equity
12492
5556
= Invested capital 18047
• Working capital
![Page 8: Financial analysis - PPT](https://reader035.fdocuments.us/reader035/viewer/2022062419/55a5282b1a28abdf0e8b48ee/html5/thumbnails/8.jpg)
Trend analysis
RATIOS 2010 2011 2012
Acid test 84.28% 68.30% 27.16%
Leverage 0,7558 1,0219 1,0531
Current Ratio 0,850 0,789
# years needed to repay debts 5,7 6,5 5,44
Debt ratio 20,96% 19,5% 18,71%
Total debts 7240 6093 5850
Total assets 34538 31232 31255
• Liquidity, autonomy and solvency
![Page 9: Financial analysis - PPT](https://reader035.fdocuments.us/reader035/viewer/2022062419/55a5282b1a28abdf0e8b48ee/html5/thumbnails/9.jpg)
Trend analysis
2010 2011 2012
Revenue 9104 8872 9342
Growth of revenue - -2,55% +5,30%
ROA 2,55% -8.01% -0.32%
Net income 883 -2503 -99
• Growth and efficiency
![Page 10: Financial analysis - PPT](https://reader035.fdocuments.us/reader035/viewer/2022062419/55a5282b1a28abdf0e8b48ee/html5/thumbnails/10.jpg)
Trend analysis
• Profitability
2010 2011 2012
Gross margin 14,06% 9,17% 9,41%
EBITDA margin 13,93% 8,77% 11,50%
EBIT 188 -1866 119
Sales 9104 8872 9342
Gross profit 1280 852 879
![Page 11: Financial analysis - PPT](https://reader035.fdocuments.us/reader035/viewer/2022062419/55a5282b1a28abdf0e8b48ee/html5/thumbnails/11.jpg)
Comparative analysis
• Net sales revenue
![Page 12: Financial analysis - PPT](https://reader035.fdocuments.us/reader035/viewer/2022062419/55a5282b1a28abdf0e8b48ee/html5/thumbnails/12.jpg)
Comparative analysis
• Gross margin
![Page 13: Financial analysis - PPT](https://reader035.fdocuments.us/reader035/viewer/2022062419/55a5282b1a28abdf0e8b48ee/html5/thumbnails/13.jpg)
Comparative analysis
• Return on capital employed (ROCE)
![Page 14: Financial analysis - PPT](https://reader035.fdocuments.us/reader035/viewer/2022062419/55a5282b1a28abdf0e8b48ee/html5/thumbnails/14.jpg)
Comparative analysis
• Return on assets (ROA)
![Page 15: Financial analysis - PPT](https://reader035.fdocuments.us/reader035/viewer/2022062419/55a5282b1a28abdf0e8b48ee/html5/thumbnails/15.jpg)
Financial cash flows
Operating cash flow (A)
- Investing cash flow (B)
713
(1139)
= Free cash flow (426)
Financing cash flow (C) (167)
Net cash flow (A+B+C) (593)
![Page 16: Financial analysis - PPT](https://reader035.fdocuments.us/reader035/viewer/2022062419/55a5282b1a28abdf0e8b48ee/html5/thumbnails/16.jpg)
Assessment of the risks
Risk : extent and likelihood that what is estimated to
occur will not actually occur.
• Market risk
• Liquidity risk
• Default risk
• Operating risk
• Political risk
![Page 17: Financial analysis - PPT](https://reader035.fdocuments.us/reader035/viewer/2022062419/55a5282b1a28abdf0e8b48ee/html5/thumbnails/17.jpg)
Conclusion and
recommendations
Conclusion
• Highly
financed by
debt
• Substantial
exposure to
risk
• Promising
future figures
for 2013
Source : Areva
![Page 18: Financial analysis - PPT](https://reader035.fdocuments.us/reader035/viewer/2022062419/55a5282b1a28abdf0e8b48ee/html5/thumbnails/18.jpg)
Conclusion and
recommendations
Recommendations
• Think about the financial model
• Reducing the cost of production
• Focus on nuclear businesses
• Find a way to generate more cash
![Page 19: Financial analysis - PPT](https://reader035.fdocuments.us/reader035/viewer/2022062419/55a5282b1a28abdf0e8b48ee/html5/thumbnails/19.jpg)
Thank you for your attention