Endo Finance plc - Updated Financial Analysis Summary

On 28 June 2022, Endo Finance plc published an updated Financial Analysis Summary. The following are the main highlights of the expected financial performance and position of Endo Group in 2022:

• Revenues are expected to increase by 8.4% to €11.8 million as the anticipated growth in income from the management and chartering of the Group’s commercial vessels is projected to outweigh the reduction in business in ship-to-ship operations and mooring master services.
• EBITDA is forecasted to surge by almost 32% to €4.51 million whilst the EBITDA margin is anticipated to improve to 38.2% from 31.4% in 2021.
• After accounting for depreciation charges of €2.07 million, net finance costs of €0.76 million, and a tax charge of €0.1 million, Endo Group is projecting a net profit of €1.59 million compared to €0.96 million in 2021.
• In terms of financial position, total assets and total liabilities are forecasted to increase by around 12% to €35.8 million and €21.7 million respectively. Despite the 14% increase in total debt to €17.4 million, the gearing ratio is anticipated to remain virtually unchanged at around 55%. On the other hand, in view of the projected substantial growth in EBITDA, the net debt-to-EBITDA multiple and the interest cover are forecasted to improve to 3.56 times (2021: 4.18 times) and 5.91 times (2021: 4.67 times) respectively.