Orion S.A. (OEC) annual cash flow statement covering fiscal 2019 through 2024, as reported to the SEC.
Net cash provided by operating activities has shrunk 11.6% a year on average since fiscal 2019, from $231.5M to $125.3M.
A cash flow statement shows the cash that actually came in and went out, split between running the business, investing and financing.
| Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | |||||||||||||||||||||
Net income (loss) | |||||||||||||||||||||
44,200 | 103,500 | 106,200 | 134,700 | 18,200 | 86,900 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net income (loss) | 44,200 | 103,500 | 106,200 | 134,700 | 18,200 | 86,900 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||||||||||||
Depreciation of property, plant and equipment and amortization of intangible assets and right of use assets | |||||||||||||||||||||
125,300 | 113,000 | 105,700 | 104,100 | 96,600 | 96,700 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Depreciation of property, plant and equipment and amortization of intangible assets and right of use assets | 125,300 | 113,000 | 105,700 | 104,100 | 96,600 | 96,700 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Amortization of debt issuance costs | |||||||||||||||||||||
1,500 | 2,700 | 1,900 | 4,100 | 2,100 | 2,100 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Amortization of debt issuance costs | 1,500 | 2,700 | 1,900 | 4,100 | 2,100 | 2,100 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Share-based compensation | |||||||||||||||||||||
15,300 | 15,400 | 7,700 | 5,200 | 4,400 | 9,400 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Share-based compensation | 15,300 | 15,400 | 7,700 | 5,200 | 4,400 | 9,400 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Deferred taxes | |||||||||||||||||||||
-19,700 | 6,300 | 7,200 | 20,300 | -12,200 | 15,900 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Deferred taxes | -19,700 | 6,300 | 7,200 | 20,300 | -12,200 | 15,900 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Foreign currency transactions | |||||||||||||||||||||
1,700 | -5,000 | 8,400 | 11,500 | 4,900 | -1,100 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Foreign currency transactions | 1,700 | -5,000 | 8,400 | 11,500 | 4,900 | -1,100 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Reclassification of actuarial (gains)/losses from AOCI | |||||||||||||||||||||
- | 8,900 | - | -4,800 | -9,900 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Reclassification of actuarial (gains)/losses from AOCI | - | 8,900 | - | -4,800 | -9,900 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other operating non-cash items, net | |||||||||||||||||||||
-1,800 | -800 | 300 | 1,800 | -100 | -1,800 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Other operating non-cash items, net | -1,800 | -800 | 300 | 1,800 | -100 | -1,800 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Changes in operating assets and liabilities, net: | |||||||||||||||||||||
Trade receivables | |||||||||||||||||||||
-13,800 | -131,200 | 95,600 | 67,600 | 16,500 | -45,400 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Trade receivables | -13,800 | -131,200 | 95,600 | 67,600 | 16,500 | -45,400 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Inventories | |||||||||||||||||||||
19,600 | 7,700 | 60,100 | 94,900 | -30,000 | -16,400 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Inventories | 19,600 | 7,700 | 60,100 | 94,900 | -30,000 | -16,400 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Trade payables | |||||||||||||||||||||
-14,800 | 1,600 | 9,200 | 65,000 | -18,700 | -12,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Trade payables | -14,800 | 1,600 | 9,200 | 65,000 | -18,700 | -12,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other provisions | |||||||||||||||||||||
-1,400 | 4,400 | 3,700 | -7,000 | -2,300 | 10,400 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Other provisions | -1,400 | 4,400 | 3,700 | -7,000 | -2,300 | 10,400 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Income tax liabilities | |||||||||||||||||||||
-17,800 | -2,100 | 20,300 | -6,300 | 16,400 | -7,300 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Income tax liabilities | -17,800 | -2,100 | 20,300 | -6,300 | 16,400 | -7,300 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other assets and liabilities, net | |||||||||||||||||||||
4,400 | 10,500 | 9,100 | 17,900 | 2,400 | 14,500 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Other assets and liabilities, net | 4,400 | 10,500 | 9,100 | 17,900 | 2,400 | 14,500 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net cash provided by operating activities | |||||||||||||||||||||
125,300 | 345,900 | 81,000 | 145,200 | 125,300 | 231,500 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net cash provided by operating activities | 125,300 | 345,900 | 81,000 | 145,200 | 125,300 | 231,500 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Cash flows from investing activities: | |||||||||||||||||||||
Acquisition of property, plant and equipment | |||||||||||||||||||||
206,700 | 172,800 | 232,800 | 214,700 | 144,900 | 155,800 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Acquisition of property, plant and equipment | 206,700 | 172,800 | 232,800 | 214,700 | 144,900 | 155,800 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Acquisition of businesses, net of cash and cash equivalents acquired | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Acquisition of businesses, net of cash and cash equivalents acquired | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Cash received from the disposal of intangible assets and property, plant and equipment | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Cash received from the disposal of intangible assets and property, plant and equipment | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net cash used in investing activities | |||||||||||||||||||||
-206,700 | -172,800 | -232,800 | -214,700 | -144,900 | -155,800 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net cash used in investing activities | -206,700 | -172,800 | -232,800 | -214,700 | -144,900 | -155,800 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Cash flows from financing activities: | |||||||||||||||||||||
Proceeds from long-term debt borrowings | |||||||||||||||||||||
- | 12,600 | 47,800 | 213,400 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from long-term debt borrowings | - | 12,600 | 47,800 | 213,400 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Repayments of long-term debt | |||||||||||||||||||||
4,100 | 3,000 | 3,000 | 213,000 | 8,200 | 8,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Repayments of long-term debt | 4,100 | 3,000 | 3,000 | 213,000 | 8,200 | 8,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Payments for debt issue costs | |||||||||||||||||||||
200 | 2,700 | 1,500 | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Payments for debt issue costs | 200 | 2,700 | 1,500 | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Cash inflows related to current financial liabilities | |||||||||||||||||||||
263,100 | 284,400 | 223,200 | 188,400 | 206,000 | 96,900 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Cash inflows related to current financial liabilities | 263,100 | 284,400 | 223,200 | 188,400 | 206,000 | 96,900 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Cash outflows related to current financial liabilities | |||||||||||||||||||||
138,100 | 417,900 | 107,700 | 112,600 | 171,100 | 101,300 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Cash outflows related to current financial liabilities | 138,100 | 417,900 | 107,700 | 112,600 | 171,100 | 101,300 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Dividends paid | |||||||||||||||||||||
4,800 | 4,900 | 5,000 | - | 12,000 | 48,100 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Dividends paid | 4,800 | 4,900 | 5,000 | - | 12,000 | 48,100 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Repurchase of Common stock | |||||||||||||||||||||
26,600 | 65,600 | 4,300 | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Repurchase of Common stock | 26,600 | 65,600 | 4,300 | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other financing activities | |||||||||||||||||||||
- | - | -200 | -2,900 | -1,200 | -8,100 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Other financing activities | - | - | -200 | -2,900 | -1,200 | -8,100 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Taxes paid for shares issued under net settlement feature | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Taxes paid for shares issued under net settlement feature | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net cash provided by financing activities | |||||||||||||||||||||
89,300 | -197,100 | 149,300 | 73,300 | 13,500 | -68,600 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net cash provided by financing activities | 89,300 | -197,100 | 149,300 | 73,300 | 13,500 | -68,600 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Decrease in cash, cash equivalents and restricted cash | |||||||||||||||||||||
7,900 | -24,000 | -2,500 | 3,800 | -6,100 | 7,100 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Decrease in cash, cash equivalents and restricted cash | 7,900 | -24,000 | -2,500 | 3,800 | -6,100 | 7,100 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Effect of exchange rate changes on cash | |||||||||||||||||||||
-3,400 | 800 | -2,600 | -3,200 | 5,800 | -500 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Effect of exchange rate changes on cash | -3,400 | 800 | -2,600 | -3,200 | 5,800 | -500 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Cash paid for interest, net | |||||||||||||||||||||
48,800 | 38,900 | 33,500 | 22,800 | 20,800 | 20,400 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Cash paid for interest, net | 48,800 | 38,900 | 33,500 | 22,800 | 20,800 | 20,400 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Cash paid for income taxes | |||||||||||||||||||||
47,300 | 56,100 | 23,900 | 37,600 | 7,900 | 24,100 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Cash paid for income taxes | 47,300 | 56,100 | 23,900 | 37,600 | 7,900 | 24,100 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Lease liabilities | |||||||||||||||||||||
28,900 | 30,000 | 25,800 | 11,600 | 66,600 | 32,600 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Lease liabilities | 28,900 | 30,000 | 25,800 | 11,600 | 66,600 | 32,600 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Liabilities for leasing - current | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Liabilities for leasing - current | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Liabilities for leasing - non-current | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Liabilities for leasing - non-current | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||