Perimeter Solutions, SA Financial Statements — PRM Stock

Income Statement	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Sales/Revenue/Turnover	239	340	- -	361	322
+ Sales & Services Revenue	239	340	- -	361	322
- Cost of Revenue	155	178	- -	218	183
+ Cost of Goods & Services	155	178	- -	218	183
Gross Profit	84	162	- -	143	139
+ Other Operating Income	- -	- -	- -	- -	- -
- Operating Expenses	90	91	- -	13	4
+ Selling, General & Admin	36	38	- -	74	57
+ Research & Development	- -	- -	- -	- -	- -
+ Other Operating Expense	53	53	- -	-62	-53
Operating Income (Loss)	-6	71	- -	130	135
- Non-Operating (Income) Loss	54	37	- -	33	74
+ Interest Expense, Net	52	42	- -	43	41
+ Interest Expense	52	42	- -	43	41
- Interest Income	- -	- -	- -	- -	- -
+ Other Non-Op (Income) Loss	2	-5	- -	-10	32
Pretax Income	-60	35	- -	97	62
- Income Tax Expense (Benefit)	-18	10	- -	5	-6
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	-42	24	- -	92	67
- Net Extraordinary Losses (Gains)	- -	- -	- -	- -	- -
+ Discontinued Operations	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	- -	- -	- -	- -	- -
Income (Loss) Incl. MI	-42	24	- -	92	67
- Minority Interest	- -	- -	- -	- -	- -
Net Income, GAAP	-42	24	- -	92	67
- Preferred Dividends	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	-42	24	- -	92	67
Basic Weighted Avg Shares	157	157	- -	161	155
Basic EPS, GAAP	-0.27	0.15	- -	0.57	0.44
Basic EPS from Cont Ops	-0.27	0.15	- -	0.57	0.44
Diluted Weighted Avg Shares	157	157	- -	175	166
Diluted EPS, GAAP	-0.27	0.15	- -	0.52	0.41
Diluted EPS from Cont Ops	-0.27	0.15	- -	0.52	0.41
EBITDA	52	130	- -	196	200
EBITDA Margin (%)	21.83	38.16	- -	54.33	62.1
EBITA	-6	71	- -	130	135
EBIT	-6	71	- -	130	135
Gross Margin (%)	35.05	47.72	- -	39.57	43.11
Operating Margin (%)	-2.41	21.05	- -	36.08	41.97
Profit Margin (%)	-17.57	7.14	- -	25.45	20.95
Sales per Employee	- -	- -	- -	- -	- -
Dividend per Share	0.08	- -	- -	- -	- -
Depreciation Expense	58	58	- -	66	65

Balance Sheet	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Total Current Assets	123	133	372	309	251
+ Cash, Cash Equivalents & STI	10	22	226	127	53
+ Cash & Cash Equivalents	10	22	226	127	47
+ ST Investments	- -	- -	- -	- -	6
+ Accounts & Notes Receiv	42	40	25	27	41
+ Accounts Receivable, Net	35	29	24	27	40
+ Notes Receivable, Net	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -
+ Other Receivable, Net	7	11	1	- -	2
+ Inventories	70	59	107	143	146
+ Raw Materials	- -	26	34	66	78
+ Work In Process	- -	- -	- -	- -	- -
+ Finished Goods	- -	33	73	77	68
+ Inventory Adjustments	- -	- -	- -	- -	- -
+ Other Inventory	70	- -	- -	- -	- -
+ Other ST Assets	2	11	14	12	11
+ Misc ST Assets	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -
Total Noncurrent Assets	1,022	1,005	2,207	2,148	2,064
+ Property, Plant & Equip, Net	46	48	62	77	82
+ Property, Plant & Equip	60	69	64	90	102
- Accumulated Depreciation	14	21	1	12	20
+ LT Investments & Receivables	- -	- -	- -	- -	- -
+ LT Investments	- -	- -	- -	- -	- -
+ LT Receivables	- -	- -	- -	- -	- -
+ Other LT Assets	976	957	2,144	2,071	1,983
+ Total Intangible Assets	973	956	2,142	2,069	1,981
+ Goodwill	473	482	1,041	1,031	1,036
+ Other Intangible Assets	500	474	1,101	1,037	945
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -
+ Misc LT Assets	3	1	2	2	1
Total Assets	1,145	1,138	2,578	2,457	2,315
+ Payables & Accruals	40	19	90	65	44
+ Accounts Payable	19	10	27	37	22
+ Accrued Taxes	4	3	- -	11	7
+ Interest & Dividends Payable	- -	- -	- -	- -	- -
+ Other Payables & Accruals	17	7	62	17	15
+ ST Debt	6	7	- -	4	3
+ ST Borrowings	6	7	- -	- -	- -
+ ST Finance Leases	- -	- -	- -	4	3
+ Other ST Liabilities	2	7	11	6	8
+ Deferred Revenue	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -
+ Misc ST Liabilities	2	7	10	6	8
Total Current Liabilities	48	33	100	74	55
+ LT Debt	724	681	664	681	687
+ LT Borrowings	724	681	664	665	666
+ LT Finance Leases	- -	- -	- -	15	20
+ Other LT Liabilities	111	133	732	563	421
+ Accrued Liabilities	110	112	297	278	253
+ Pension Liabilities	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -
+ Misc LT Liabilities	1	21	435	285	168
Total Noncurrent Liabilities	835	814	1,396	1,244	1,108
Total Liabilities	883	847	1,497	1,318	1,163
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -
+ Share Capital & APIC	342	342	1,827	1,862	1,866
+ Common Stock	53	53	157	163	165
+ Additional Paid in Capital	289	289	1,670	1,699	1,701
- Treasury Stock	- -	- -	- -	49	113
+ Retained Earnings	-72	-48	-739	-648	-581
+ Other Equity	-8	-3	-7	-25	-20
Equity Before Minority Interest	262	291	1,082	1,139	1,152
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -
Total Equity	262	291	1,082	1,139	1,152
Total Liabilities & Equity	1,145	1,138	2,578	2,457	2,315
Shares Outstanding	157	157	157	157	146
Capital Leases - Total	- -	- -	- -	19	23
Net Debt	720	665	439	539	619
Net Debt to Equity	274.42	228.12	40.55	47.29	53.74
Tangible Common Equity Ratio	-412.96	-364.08	-243.12	-239.87	-248.1
Current Ratio	2.57	4.04	3.7	4.16	4.56
Cash Conversion Cycle	- -	134.48	- -	188.93	267.61
Number of Employees	- -	- -	- -	- -	- -

Cash Flow Statement	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
+ Net Income	-42	24	- -	92	67
+ Depreciation & Amortization	58	58	- -	66	65
+ Non-Cash Items	-19	-5	- -	-91	-87
+ Stock-Based Compensation	- -	- -	- -	15	2
+ Deferred Income Taxes	-22	-3	- -	-17	-26
+ Asset Impairment Charge	- -	- -	- -	- -	41
+ Other Non-Cash Adj	4	-2	- -	-88	-104
+ Chg in Non-Cash Work Cap	2	-7	- -	-107	-45
+ (Inc) Dec in Accts Receiv	-14	12	- -	-6	-14
+ (Inc) Dec in Inventories	-10	11	- -	-62	-2
+ (Inc) Dec in Prepaid Assets	11	-10	- -	2	1
+ Inc (Dec) in Accts Payable	16	-21	- -	18	-21
+ Inc (Dec) in Other	1	1	- -	-59	-9
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -
Cash from Operating Activities	- -	71	- -	-40	- -
+ Change in Fixed & Intang	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	- -	- -	- -	- -	- -
+ Disp of Fixed Prod Assets	- -	- -	- -	- -	- -
+ Disp of Intangible Assets	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	-9	-7	- -	-9	-9
+ Acq of Fixed Prod Assets	-9	-7	- -	-9	-9
+ Acq of Intangible Assets	- -	- -	- -	- -	- -
+ Net Change in LT Investment	- -	- -	- -	- -	- -
+ Dec in LT Investment	- -	- -	- -	- -	- -
+ Inc in LT Investment	- -	- -	- -	- -	- -
+ Net Cash From Acq & Div	-16	-2	- -	-2	- -
+ Cash from Divestitures	- -	- -	- -	- -	- -
+ Cash for Acq of Subs	-16	-2	- -	-2	- -
+ Cash for JVs	- -	- -	- -	- -	- -
+ Other Investing Activities	- -	- -	- -	- -	-5
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -
Cash from Investing Activities	-25	-9	- -	-10	-15
+ Dividends Paid	-12	- -	- -	- -	- -
+ Net Cash From Debt	33	-46	- -	- -	- -
+ Cash From Debt	99	72	- -	- -	- -
+ Repayments of Debt	-66	-118	- -	- -	- -
+ Cash (Repurchase) of Equity	- -	- -	- -	-49	-64
+ Increase in Capital Stock	- -	- -	- -	- -	- -
+ Decrease in Capital Stock	- -	- -	- -	-49	-64
+ Other Financing Activities	- -	- -	- -	1	- -
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -
Cash from Financing Activities	21	-46	- -	-49	-64
Effect of Foreign Exchange Rates	-2	-3	- -	- -	- -
Net Changes in Cash	-4	16	- -	-99	-79
Capital Expenditures	-9	-7	- -	-9	-9
EBITDA	52	130	- -	196	200
EBITDA Margin (%)	21.83	38.16	- -	54.33	62.1
Net Cash Paid for Acquisitions	16	2	- -	2	- -
Free Cash Flow	-9	63	- -	-49	-9
Free Cash Flow to Firm	- -	93	- -	-9	- -
Free Cash Flow to Equity	- -	18	- -	-49	-10
Free Cash Flow per Basic Share	-0.06	0.4	- -	-0.3	-0.06
Price/Free Cash Flow	- -	- -	- -	-50.71	79.53
Cash Flow to Net Income	0.01	2.92	- -	-0.44	- -

Perimeter Solutions, SA

Income Statement

Balance Sheet

Cash Flow Statement