Pharos Energy PLC

LSE:PHAR

United Kingdom / Energy / Oil, Gas & Consumable Fuels

Overview

Dividends

10Y Historical Financials

Stock Price

0.22 GBP


Key Metrics	Latest
Total Revenue	137.6 M
Adjusted EBITDA	98.2 M
EBITDA Margin	71.4%
Net Profit Margin	-15.1%
Total Assets	440.7 M
Total Debt	14.2 M

10Y Historical Financial Statements

Summary Financials


Summary Financials

	Fiscal Year Ending										Latest
(in millions)	Dec-14	Dec-15	Dec-16	Dec-17	Dec-18	Dec-19	Dec-20	Dec-21	Dec-22	Dec-23	12 Months

Revenue	448	198	141	143	160	177	135	124	184	157	138
% Growth		-55.9%	-28.6%	1.0%	12.2%	10.9%	-23.9%	-8.1%	48.7%	-14.6%

Adjusted EBITDA	335	113	84	78	93	112	66	73	126	101	98
% Margin	74.7%	57.0%	59.6%	54.8%	58.0%	63.1%	49.0%	59.0%	68.4%	64.2%	71.4%

Adjusted EBIT	151	1	22	21	79	36	(232)	58	99	(20)	2
% Margin	33.6%	0.3%	15.2%	14.9%	49.1%	20.5%	-171.9%	46.7%	53.6%	-12.5%	1.6%

Adjusted Net Income	13	(39)	(4)	(157)	28	(12)	(212)	5	30	(49)	(21)
% Margin	2.8%	-20.0%	-3.0%	-110.3%	17.3%	-6.8%	-156.7%	4.4%	16.2%	-31.0%	-15.1%

Adjusted Basic EPS	0.04	(0.12)	(0.01)	(0.48)	0.08	(0.03)	(0.54)	0.01	0.07	(0.11)	(0.05)

Supporting Calculations

Income Statement

Balance Sheet

Statement of Cashflows


Income Statement
											Original
USD	Fiscal Year Ending										Latest
(in millions)	Dec-14	Dec-15	Dec-16	Dec-17	Dec-18	Dec-19	Dec-20	Dec-21	Dec-22	Dec-23	Jun-24
	FY - 9	FY - 8	FY - 7	FY - 6	FY - 5	FY - 4	FY - 3	FY - 2	FY - 1	FY	LTM

Revenue	448	198	141	143	160	177	135	124	184	157	138
% Growth	NA	-55.9%	-28.6%	1.0%	12.2%	10.9%	-23.9%	-8.1%	48.7%	-14.6%

Cost of Revenue	(136)	(149)	(107)	(101)	(90)	(116)	(117)	(105)	(102)	(101)	(82)
Gross Profit	312	48	35	41	71	61	18	20	82	57	56
% Revenue	69.6%	24.5%	24.6%	28.9%	44.1%	34.4%	13.5%	15.7%	44.6%	36.0%	40.4%

Research and Development	0	0	0	0	0	0	0	0	0	0	0
Selling and Marketing	0	0	0	0	0	0	0	0	0	0	0
General and Admin	(18)	(11)	(14)	(18)	(28)	(23)	(15)	(13)	(10)	(9)	(5)
Other Inc / (Exp)	(142)	(30)	0	(2)	36	(18)	(240)	39	18	(69)	(49)
Total Operating Exp	(160)	(41)	(13)	(20)	8	(41)	(255)	25	8	(78)	(53)

Operating Income	152	8	22	21	78	20	(237)	45	91	(22)	3
% Revenue	33.9%	4.0%	15.2%	14.9%	48.8%	11.2%	-175.2%	36.1%	49.1%	-13.7%	1.8%

Interest Expense	1	0	0	1	2	(8)	(5)	(6)	(10)	(8)	(3)
Pre-tax Income	153	8	22	23	80	12	(241)	39	81	(29)	(1)
Earnings of Discontinued Ops.	0	0	0	(152)	4	2	(0)	0	0	0	0
Provision for Taxes	(139)	(42)	(26)	(28)	(56)	(38)	26	(43)	(56)	(20)	(19)
Net Income to Company	14	(34)	(4)	(157)	28	(25)	(216)	(5)	24	(49)	(19)
% Margin	3.1%	-17.1%	-3.0%	-110.3%	17.3%	-13.8%	-159.9%	-3.8%	13.2%	-31.0%	-14.0%

Minority Interest in Earnings	0	0	0	0	0	0	0	0	0	0	0
Net Income to Stockholders	14	(34)	(4)	(157)	28	(25)	(216)	(5)	24	(49)	(19)

Preferred Dividends	0	0	0	0	0	0	0	0	0	0	0
Other Adj.	0	0	0	152	(4)	(2)	0	0	0	0	0

Net Income to Common	14	(34)	(4)	(5)	24	(27)	(216)	(5)	24	(49)	(19)
% Margin	3.1%	-17.1%	-3.0%	-3.5%	15.1%	-14.9%	-159.7%	-3.8%	13.2%	-31.0%	-14.0%

As Reported
Basic EPS (Continuing Ops)	0.04	(0.10)	(0.01)	(0.02)	0.07	(0.07)	(0.55)	(0.01)	0.06	(0.11)	(0.04)
Diluted EPS (Continuing Ops)	0.04	(0.10)	(0.01)	(0.02)	0.07	(0.07)	(0.55)	(0.01)	0.05	(0.11)	(0.05)

WA Basic Shares Out.	328.60	329.10	329.40	329.80	329.80	378.10	395.10	437.80	439.25	427.17	416.97
WA Diluted Shares Out.	329.90	329.10	332.20	333.40	334.40	378.10	395.10	437.80	440.20	427.17	418.77

EBITDA, EBIT Reconciliation
EBT, Incl. Unusual Items	153	8	22	23	80	12	(241)	39	81	(29)	(1)
Addback: Net Interest Expense	(1)	(0)	(0)	(1)	(2)	8	5	6	10	8	3
Addback: Other Non Operating Expenses, Total	0	0	0	0	1	(0)	(1)	(1)	1	2	2
Addback: Depreciation & Amortization	184	112	63	57	14	76	298	15	27	121	96
Addback: Restructuring Charges	0	0	0	0	0	3	(0)	3	0	0	0
Addback: Merger / Acquisition Expenses	0	0	0	0	0	14	5	0	0	0	0
Addback: Goodwill Impairment	0	0	0	0	0	0	0	0	0	0	0
Addback: Gain (Loss) On Sale Of Invest.	0	0	0	0	0	0	0	0	0	0	(3)
Addback: Gain (Loss) On Sale Of Assets	(2)	(8)	0	0	0	0	0	10	7	0	0
Addback: Asset Writedown	0	0	0	0	0	0	0	0	0	0	0
Addback: In Process R&D Expenses	0	0	0	0	0	0	0	0	0	0	0
Addback: Insurance Settlements	0	0	0	0	0	0	0	0	0	0	0
Addback: Legal Settlements	0	0	0	0	0	0	0	0	0	0	0
Addback: Other Unusual Items	0	0	0	0	0	0	1	0	1	0	0
Adjusted EBITDA	335	113	84	78	93	112	66	73	126	101	98
% Margin	74.7%	57.0%	59.6%	54.8%	58.0%	63.1%	49.0%	59.0%	68.4%	64.2%	71.4%

Adjusted EBIT	151	1	22	21	79	36	(232)	58	99	(20)	2
% Margin	33.6%	0.3%	15.2%	14.9%	49.1%	20.5%	-171.9%	46.7%	53.6%	-12.5%	1.6%

Adjusted Net Income Reconciliation
Net Income to Company	14	(34)	(4)	(157)	28	(25)	(216)	(5)	24	(49)	(19)
Addback: Unusual Items	(2)	(8)	0	0	0	17	6	14	7	0	(2)
Less: Tax Benefit of Unusual Items (26%)	0	2	0	0	0	(4)	(2)	(4)	(2)	0	1
Adjusted Net Income	13	(39)	(4)	(157)	28	(12)	(212)	5	30	(49)	(21)
% Margin	2.8%	-20.0%	-3.0%	-110.3%	17.3%	-6.8%	-156.7%	4.4%	16.2%	-31.0%	-15.1%

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Pharos Energy PLC

LSE:PHAR

United Kingdom / Energy / Oil, Gas & Consumable Fuels

10Y Historical Financials