By Helgi Library - September 18, 2020
Varroc Lighting Systems Czech Republic employed 3,199 employees in 2018, up 20.1% compared to the previous year. Historicall...
By Helgi Library - September 18, 2020
Varroc Lighting Systems Czech Republic made a net profit of CZK 369 mil in 2018, down 25.4% compared to the previous year. Total sal...
By Helgi Library - September 20, 2020
Varroc Lighting Systems Czech Republic's net debt stood at CZK 2,121 mil and accounted for 55.0% of equity at the end of 2018. T...
| Profit Statement | 2016 | 2017 | 2018 | |
| Sales | CZK mil | 20,509 | 12,875 | 15,282 |
| Gross Profit | CZK mil | 3,305 | 4,549 | 5,651 |
| EBITDA | CZK mil | 1,165 | 650 | 730 |
| EBIT | CZK mil | 759 | 318 | 324 |
| Pre-Tax Profit | CZK mil | 721 | 346 | 264 |
| Net Profit | CZK mil | 772 | 495 | 369 |
| Balance Sheet | 2016 | 2017 | 2018 | |
| Total Assets | CZK mil | 10,572 | 10,645 | 13,577 |
| Non-Current Assets | CZK mil | 2,400 | 3,417 | 4,610 |
| Current Assets | CZK mil | 7,568 | 6,188 | 6,739 |
| Working Capital | CZK mil | 3,049 | 2,586 | 3,397 |
| Shareholders' Equity | CZK mil | 3,516 | 3,593 | 3,856 |
| Liabilities | CZK mil | 7,057 | 7,051 | 9,721 |
| Total Debt | CZK mil | 2,000 | 1,004 | 2,978 |
| Net Debt | CZK mil | 836 | -169 | 2,121 |
| Ratios | 2016 | 2017 | 2018 | |
| ROE | % | 24.8 | 13.9 | 9.90 |
| ROCE | % | 15.1 | 8.64 | 5.27 |
| Gross Margin | % | 16.1 | 35.3 | 37.0 |
| EBITDA Margin | % | 5.68 | 5.05 | 4.78 |
| EBIT Margin | % | 3.70 | 2.47 | 2.12 |
| Net Margin | % | 3.76 | 3.84 | 2.41 |
| Net Debt/EBITDA | 0.718 | -0.260 | 2.91 | |
| Net Debt/Equity | % | 23.8 | -4.69 | 55.0 |
| Cash Flow | 2016 | 2017 | 2018 | |
| Total Cash From Operations | CZK mil | ... | 1,326 | -1,049 |
| Total Cash From Investing | CZK mil | ... | -1,392 | -111 |
| Total Cash From Financing | CZK mil | ... | -465 | 1,795 |
| Net Change In Cash | CZK mil | ... | -531 | 635 |
| Cash Conversion Cycle | days | 49.5 | 69.6 | 79.3 |
| Cash Earnings | CZK mil | 1,177 | 827 | 775 |
| Free Cash Flow | CZK mil | ... | -66.1 | -1,160 |
Get all company financials in excel:
| overview | Unit | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 |
| income statement | |||||||||
| Sales | CZK mil | ... | 6,103 | 8,872 | 9,549 | 15,839 | 20,509 | ||
| Gross Profit | CZK mil | ... | 1,254 | 2,213 | 2,292 | 2,782 | 3,305 | ||
| EBIT | CZK mil | ... | 233 | 545 | 675 | 823 | 759 | ||
| Net Profit | CZK mil | ... | 193 | 292 | 708 | 684 | 772 | ||
| ROE | % | ... | 22.3 | 22.9 | 39.2 | 28.0 | 24.8 | ||
| EBIT Margin | % | ... | 3.82 | 6.15 | 7.07 | 5.20 | 3.70 | ||
| Net Margin | % | ... | 3.16 | 3.29 | 7.42 | 4.32 | 3.76 | ||
| Employees | ... | 2,327 | 2,308 | 2,263 | 2,479 | 2,617 | |||
| balance sheet | |||||||||
| Total Assets | CZK mil | 4,387 | 4,593 | 5,561 | 7,325 | 10,572 | |||
| Non-Current Assets | CZK mil | 1,463 | 1,362 | 1,621 | 1,580 | 2,400 | |||
| Current Assets | CZK mil | 2,620 | 2,944 | 3,575 | 5,275 | 7,568 | |||
| Shareholders' Equity | CZK mil | 1,109 | 1,441 | 2,173 | 2,714 | 3,516 | |||
| Liabilities | CZK mil | 3,279 | 3,152 | 3,387 | 4,611 | 7,057 | |||
| Non-Current Liabilities | CZK mil | 939 | 700 | 56.7 | 554 | 1,062 | |||
| Current Liabilities | CZK mil | 1,578 | 2,097 | 1,652 | 3,173 | 5,031 | |||
| Net Debt/EBITDA | ... | 2.72 | 0.507 | 0.471 | 0.664 | 0.718 | |||
| Net Debt/Equity | % | 105 | 30.2 | 21.2 | 29.4 | 23.8 | |||
| cash flow | |||||||||
| Total Cash From Operations | CZK mil | ... | ... | ... | ... | ... | ... | ||
| Total Cash From Investing | CZK mil | ... | ... | ... | ... | ... | ... | ||
| Total Cash From Financing | CZK mil | ... | ... | ... | ... | ... | ... | ||
| Net Change In Cash | CZK mil | ... | ... | ... | ... | ... | ... |
| income statement | Unit | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 |
| income statement | |||||||||
| Sales | CZK mil | ... | 6,103 | 8,872 | 9,549 | 15,839 | 20,509 | ||
| Cost of Goods & Services | CZK mil | ... | 4,849 | 6,659 | 7,257 | 13,057 | 17,203 | ||
| Gross Profit | CZK mil | ... | 1,254 | 2,213 | 2,292 | 2,782 | 3,305 | ||
| Staff Cost | CZK mil | ... | 796 | 1,269 | 1,331 | 1,911 | 2,170 | ||
| Other Operating Cost (Income) | CZK mil | ... | 27.7 | 85.7 | -17.2 | -333 | -29.2 | ||
| EBITDA | CZK mil | ... | 430 | 858 | 978 | 1,204 | 1,165 | ||
| Depreciation | CZK mil | ... | 197 | 313 | 302 | 381 | 406 | ||
| EBIT | CZK mil | ... | 233 | 545 | 675 | 823 | 759 | ||
| Net Financing Cost | CZK mil | ... | 41.5 | 162 | -117 | 45.4 | 38.1 | ||
| Extraordinary Cost | CZK mil | ... | 0 | 0 | 0 | 0 | 0 | ||
| Pre-Tax Profit | CZK mil | ... | 191 | 383 | 793 | 778 | 721 | ||
| Tax | CZK mil | ... | -1.37 | 91.5 | 84.1 | 94.1 | -50.9 | ||
| Minorities | CZK mil | ... | 0 | 0 | 0 | 0 | 0 | ||
| Net Profit | CZK mil | ... | 193 | 292 | 708 | 684 | 772 | ||
| Net Profit Avail. to Common | CZK mil | ... | 193 | 292 | 708 | 684 | 772 | ||
| growth rates | |||||||||
| Total Revenue Growth | % | ... | ... | 45.4 | 7.63 | 65.9 | 29.5 | ||
| Staff Cost Growth | % | ... | ... | 59.3 | 4.94 | 43.5 | 13.6 | ||
| EBITDA Growth | % | ... | ... | 99.6 | 13.9 | 23.1 | -3.25 | ||
| EBIT Growth | % | ... | ... | 134 | 23.8 | 21.9 | -7.82 | ||
| Pre-Tax Profit Growth | % | ... | ... | 100 | 107 | -1.88 | -7.34 | ||
| Net Profit Growth | % | ... | ... | 51.2 | 143 | -3.51 | 12.9 | ||
| ratios | |||||||||
| ROE | % | ... | 22.3 | 22.9 | 39.2 | 28.0 | 24.8 | ||
| ROA | % | ... | 4.42 | 6.49 | 14.0 | 10.6 | 8.62 | ||
| ROCE | % | ... | 7.74 | 13.1 | 30.7 | 17.8 | 15.1 | ||
| Gross Margin | % | ... | 20.5 | 24.9 | 24.0 | 17.6 | 16.1 | ||
| EBITDA Margin | % | ... | 7.05 | 9.67 | 10.2 | 7.60 | 5.68 | ||
| EBIT Margin | % | ... | 3.82 | 6.15 | 7.07 | 5.20 | 3.70 | ||
| Net Margin | % | ... | 3.16 | 3.29 | 7.42 | 4.32 | 3.76 | ||
| Net Debt/EBITDA | ... | 2.72 | 0.507 | 0.471 | 0.664 | 0.718 |
| balance sheet | Unit | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 |
| balance sheet | |||||||||
| Cash & Cash Equivalents | CZK mil | 258 | 521 | 55.6 | 495 | 1,163 | |||
| Receivables | CZK mil | 1,512 | 965 | 1,377 | 3,181 | 4,437 | |||
| Inventories | CZK mil | 543 | 805 | 1,182 | 1,599 | 1,968 | |||
| Other ST Assets | CZK mil | 307 | 653 | 960 | < -0.001 | 0 | |||
| Current Assets | CZK mil | 2,620 | 2,944 | 3,575 | 5,275 | 7,568 | |||
| Property, Plant & Equipment | CZK mil | 909 | 782 | 837 | 1,199 | 2,089 | |||
| LT Investments & Receivables | CZK mil | 213 | 206 | 482 | 0.724 | 0.844 | |||
| Intangible Assets | CZK mil | 341 | 373 | 303 | 380 | 311 | |||
| Goodwill | CZK mil | 0 | 0 | 0 | 0 | 0 | |||
| Non-Current Assets | CZK mil | 1,463 | 1,362 | 1,621 | 1,580 | 2,400 | |||
| Total Assets | CZK mil | 4,387 | 4,593 | 5,561 | 7,325 | 10,572 | |||
| Trade Payables | CZK mil | 744 | 1,448 | 1,251 | 1,609 | 3,356 | |||
| Short-Term Debt | CZK mil | 737 | 511 | 349 | 772 | 939 | |||
| Other ST Liabilities | CZK mil | 96.9 | 138 | 51.3 | 791 | 736 | |||
| Current Liabilities | CZK mil | 1,578 | 2,097 | 1,652 | 3,173 | 5,031 | |||
| Long-Term Debt | CZK mil | 903 | 651 | 649 | 522 | 1,061 | |||
| Other LT Liabilities | CZK mil | 36.1 | 49.0 | -592 | 32.3 | 0.852 | |||
| Non-Current Liabilities | CZK mil | 939 | 700 | 56.7 | 554 | 1,062 | |||
| Liabilities | CZK mil | 3,279 | 3,152 | 3,387 | 4,611 | 7,057 | |||
| Equity Before Minority Interest | CZK mil | 1,109 | 1,441 | 2,173 | 2,714 | 3,516 | |||
| Minority Interest | CZK mil | 0 | 0 | 0 | 0 | 0 | |||
| Equity | CZK mil | 1,109 | 1,441 | 2,173 | 2,714 | 3,516 | |||
| growth rates | |||||||||
| Total Asset Growth | % | ... | 1.20 | 4.68 | 21.1 | 31.7 | 44.3 | ||
| Shareholders' Equity Growth | % | ... | 78.1 | 30.0 | 50.8 | 24.9 | 29.5 | ||
| Net Debt Growth | % | ... | -106,008 | -62.8 | 5.99 | 73.3 | 4.68 | ||
| Total Debt Growth | % | ... | 42.3 | -29.1 | -14.1 | 29.7 | 54.5 | ||
| ratios | |||||||||
| Total Debt | CZK mil | 1,639 | 1,162 | 998 | 1,294 | 2,000 | |||
| Net Debt | CZK mil | 1,168 | 435 | 461 | 799 | 836 | |||
| Working Capital | CZK mil | 1,311 | 322 | 1,308 | 3,171 | 3,049 | |||
| Capital Employed | CZK mil | 2,774 | 1,683 | 2,929 | 4,751 | 5,449 | |||
| Net Debt/Equity | % | 105 | 30.2 | 21.2 | 29.4 | 23.8 | |||
| Current Ratio | 1.66 | 1.40 | 2.16 | 1.66 | 1.50 | ||||
| Quick Ratio | 1.12 | 0.709 | 0.867 | 1.16 | 1.11 |
| cash flow | Unit | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 |
| cash flow | |||||||||
| Net Profit | CZK mil | ... | 193 | 292 | 708 | 684 | 772 | ||
| Depreciation | CZK mil | ... | 197 | 313 | 302 | 381 | 406 | ||
| Non-Cash Items | CZK mil | ... | ... | ... | ... | ... | ... | ||
| Change in Working Capital | CZK mil | ... | ... | ... | ... | ... | ... | ||
| Total Cash From Operations | CZK mil | ... | ... | ... | ... | ... | ... | ||
| Capital Expenditures | CZK mil | ... | ... | ... | ... | ... | ... | ||
| Other Investing Activities | CZK mil | ... | ... | ... | ... | ... | ... | ||
| Total Cash From Investing | CZK mil | ... | ... | ... | ... | ... | ... | ||
| Dividends Paid | CZK mil | ... | ... | ... | ... | ... | ... | ||
| Issuance Of Debt | CZK mil | ... | ... | ... | ... | ... | ... | ||
| Other Financing Activities | CZK mil | ... | ... | ... | ... | ... | ... | ||
| Total Cash From Financing | CZK mil | ... | ... | ... | ... | ... | ... | ||
| Net Change In Cash | CZK mil | ... | ... | ... | ... | ... | ... | ||
| ratios | |||||||||
| Days Sales Outstanding | days | ... | 90.4 | 39.7 | 52.6 | 73.3 | 79.0 | ||
| Days Sales Of Inventory | days | ... | 40.9 | 44.1 | 59.4 | 44.7 | 41.7 | ||
| Days Payable Outstanding | days | ... | 56.0 | 79.4 | 62.9 | 45.0 | 71.2 | ||
| Cash Conversion Cycle | days | ... | 75.3 | 4.44 | 49.2 | 73.0 | 49.5 | ||
| Cash Earnings | CZK mil | ... | 390 | 604 | 1,011 | 1,064 | 1,177 | ||
| Free Cash Flow | CZK mil | ... | ... | ... | ... | ... | ... | ||
| Capital Expenditures (As % of Sales) | % | ... | ... | ... | ... | ... | ... |
| other ratios | Unit | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 |
| Employees | ... | 2,327 | 2,308 | 2,263 | 2,479 | 2,617 | |||
| Cost Per Employee | USD per month | ... | 1,458 | 2,342 | 2,294 | 2,691 | 2,739 | ||
| Cost Per Employee (Local Currency) | CZK per month | ... | 28,522 | 45,814 | 49,031 | 64,235 | 69,102 | ||
| Staff Cost (As % of Sales) | % | ... | 13.0 | 14.3 | 13.9 | 12.1 | 10.6 | ||
| Effective Tax Rate | % | ... | -0.715 | 23.9 | 10.6 | 12.1 | -7.07 | ||
| Revenues From Abroad | CZK mil | ... | 5,198 | 8,142 | 8,799 | 15,055 | 19,463 | ||
| Domestic Revenues | CZK mil | ... | 906 | 729 | 750 | 784 | 1,045 | ||
| Revenues From Abroad (As % Of Total) | % | ... | 85.2 | 91.8 | 92.1 | 95.0 | 94.9 | ||
| Total Revenue Growth (5-year average) | % | ... | ... | ... | ... | ... | ... |
| sales geography | Unit | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 |
| Sales in Czechia | CZK mil | ... | 906 | 729 | 750 | 784 | 1,045 | ||
| Sales in Czechia (As % of Total) | % | ... | 14.8 | 8.22 | 7.85 | 4.95 | 5.10 |
Get all company financials in excel:
By Helgi Library - September 18, 2020
Varroc Lighting Systems Czech Republic's total assets reached CZK 13,577 mil at the end of 2018, up 27.5% compared to the previous year. Current assets amounted to CZK 6,739 mil, or 49.6% of total assets while cash stood at CZK 161 mil at t...
By Helgi Library - September 18, 2020
Varroc Lighting Systems Czech Republic made a net profit of CZK 369 mil in 2018, down 25.4% compared to the previous year. Historically, between 2012 and 2018, the company's net profit reached a high of CZK 772 mil in 2016 and a low of CZK 193 mil in 2012. ...
By Helgi Library - September 18, 2020
Varroc Lighting Systems Czech Republic made a net profit of CZK 369 mil with revenues of CZK 15,282 mil in 2018, down by 25.4% and up by 18.7%, respectively, compared to the previous year. This translates into a net margin of 2.41%. Historically, between ...
Varroc Lighting Systems, s.r.o. is a Czech Republic-based subsidiary of Varroc Group, which operates branches in Asia, Europe and North America. The Company provides headlamps and rear lighting assemblies to customers including major automotive brands such as Bentley, Ford, Jaguar, Land Rover, Škoda and Tesla. The Company employs more than 2,300 people in the Czech Republic. This history of the Czech branch dates back to 1879; it was originally known under the name Autopal. Varroc is headquartered in Plymouth, Michigan, USA, and operates in Asia, Europe and North America, with nearly 5,000 employees. In the Czech Republic, the Company operates manufacturing plants in Rychvald and Novy Jicin.
Varroc Lighting Systems Czech Republic has been growing its sales by 11.5% a year on average in the last 5 years. EBITDA has fallen on average by 3.18% a year during that time to total of CZK 730 mil in 2018, or 4.78% of sales. That’s compared to 6.67% average margin seen in last five years.
The company netted CZK 369 mil in 2018 implying ROE of 9.90% and ROCE of 5.27%. Again, the average figures were 23.2% and 15.5%, respectively when looking at the previous 5 years.
Varroc Lighting Systems Czech Republic’s net debt amounted to CZK 2,121 mil at the end of 2018, or 55.0% of equity. When compared to EBITDA, net debt was 2.91x, up when compared to average of 0.900x seen in the last 5 years.
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