Advanced World Transport

AWT's Cash & Cash Equivalents fell 11.3% yoy to CZK 479 mil in 2015

By Helgi Analytics - April 2, 2020

Advanced World Transport's total assets reached CZK 3,587 mil at the end of 2015, down 10.9% compared to the previous year. ...

Profit Statement 2013 2014 2015
Sales CZK mil 4,367 4,437 4,013
Gross Profit CZK mil 1,039 1,322 933
EBITDA CZK mil 251 421 158
EBIT CZK mil -81.7 150 -103
Financing Cost CZK mil 29.0 40.5 33.3
Pre-Tax Profit CZK mil -111 109 -136
Net Profit CZK mil -91.4 85.2 -118
Balance Sheet 2013 2014 2015
Total Assets CZK mil 4,324 4,025 3,587
Non-Current Assets CZK mil 2,103 1,926 1,715
Current Assets CZK mil 2,163 2,046 1,822
Working Capital CZK mil 504 549 510
Shareholders' Equity CZK mil 1,942 2,027 1,947
Liabilities CZK mil 2,382 1,997 1,640
Total Debt CZK mil 1,120 871 742
Net Debt CZK mil 578 331 263
Ratios 2013 2014 2015
ROE % -4.63 4.29 -5.93
ROCE % -3.36 3.35 -5.01
Gross Margin % 23.8 29.8 23.3
EBITDA Margin % 5.74 9.49 3.94
EBIT Margin % -1.87 3.38 -2.57
Net Margin % -2.09 1.92 -2.93
Net Debt/EBITDA 2.31 0.786 1.67
Net Debt/Equity 0.298 0.163 0.135
Cost of Financing % 2.35 4.07 4.12
Cash Flow 2013 2014 2015
Cash Conversion Cycle days 30.8 34.2 38.1
Cash Earnings CZK mil 241 356 143

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summary Unit 2009 2010 2011 2012 2013 2014 2015
income statement              
Sales CZK mil ... 4,142 3,768 3,843 4,367    
Gross Profit CZK mil ... 1,215 1,100 1,095 1,039    
EBIT CZK mil ... -115 -11.8 -33.1 -81.7    
Net Profit CZK mil ... -13.2 -73.2 -51.3 -91.4    
ROE % ... -0.592 -3.44 -2.53 -4.63    
EBIT Margin % ... -2.77 -0.313 -0.861 -1.87    
Net Margin % ... -0.319 -1.94 -1.34 -2.09    
Employees ... 2,050 1,620 1,542 1,553    
balance sheet              
Total Assets CZK mil 5,385 5,387 4,761 4,324 4,324    
Non-Current Assets CZK mil 3,309 2,978 2,601 2,316 2,103    
Current Assets CZK mil 2,051 2,379 2,126 1,977 2,163    
Shareholders' Equity CZK mil 2,258 2,200 2,053 2,005 1,942    
Liabilities CZK mil 3,127 3,187 2,708 2,319 2,382    
Non-Current Liabilities CZK mil 299 266 251 223 204    
Current Liabilities CZK mil 890 990 796 672 993    
Net Debt/EBITDA ... 5.44 3.14 3.02 2.31    
Net Debt/Equity 0.592 0.649 0.579 0.483 0.298    
Cost of Financing % ... -2.24 -4.19 -2.59 2.35    
income statement Unit 2009 2010 2011 2012 2013 2014 2015
income statement              
Sales CZK mil ... 4,142 3,768 3,843 4,367    
Cost of Goods & Services CZK mil ... 2,927 2,668 2,749 3,328    
Gross Profit CZK mil ... 1,215 1,100 1,095 1,039    
Staff Cost CZK mil ... 946 842 867 872    
Other Cost CZK mil ... 7.10 -120 -92.7 -83.2    
EBITDA CZK mil ... 262 378 320 251    
Depreciation CZK mil ... 377 390 353 332    
EBIT CZK mil ... -115 -11.8 -33.1 -81.7    
Financing Cost CZK mil ... -41.4 -72.3 -38.3 29.0    
Extraordinary Cost CZK mil ... -23.6 145 76.6 0    
Pre-Tax Profit CZK mil ... -49.7 -84.1 -71.4 -111    
Tax CZK mil ... -36.5 -10.8 -20.1 -19.3    
Minorities CZK mil ... 0 0 0 0    
Net Profit CZK mil ... -13.2 -73.2 -51.3 -91.4    
growth rates              
Total Revenue Growth % ... ... -9.02 2.00 13.6    
Operating Cost Growth % ... ... -24.2 7.19 1.82    
EBITDA Growth % ... ... 44.0 -15.2 -21.8    
EBIT Growth % ... ... -89.7 181 147    
Pre-Tax Profit Growth % ... ... 69.3 -15.1 55.1    
Net Profit Growth % ... ... 455 -29.9 78.1    
ratios              
ROE % ... -0.592 -3.44 -2.53 -4.63    
ROCE % ... -0.356 -2.23 -1.74 -3.36    
Gross Margin % ... 29.3 29.2 28.5 23.8    
EBITDA Margin % ... 6.34 10.0 8.34 5.74    
EBIT Margin % ... -2.77 -0.313 -0.861 -1.87    
Net Margin % ... -0.319 -1.94 -1.34 -2.09    
Cost of Financing % ... -2.24 -4.19 -2.59 2.35    
Net Debt/EBITDA ... 5.44 3.14 3.02 2.31    
balance sheet Unit 2009 2010 2011 2012 2013 2014 2015
balance sheet              
Non-Current Assets CZK mil 3,309 2,978 2,601 2,316 2,103    
Property, Plant & Equipment CZK mil 2,867 2,731 2,427 2,223 2,074    
Intangible Assets CZK mil 304 233 160 90.6 26.6    
Current Assets CZK mil 2,051 2,379 2,126 1,977 2,163    
Inventories CZK mil 174 196 206 215 173    
Receivables CZK mil 926 976 746 681 939    
Cash & Cash Equivalents CZK mil 525 418 418 384 542    
Total Assets CZK mil 5,385 5,387 4,761 4,324 4,324    
Shareholders' Equity CZK mil 2,258 2,200 2,053 2,005 1,942    
Of Which Minority Interest CZK mil 0 0 0 0 0    
Liabilities CZK mil 3,127 3,187 2,708 2,319 2,382    
Non-Current Liabilities CZK mil 299 266 251 223 204    
Long-Term Debt CZK mil 1,862 1,598 1,357 1,104 869    
Deferred Tax Liabilities CZK mil 299 266 251 223 204    
Current Liabilities CZK mil 890 990 796 672 993    
Short-Term Debt CZK mil 0 247 248 247 251    
Trade Payables CZK mil 531 621 504 372 608    
Provisions CZK mil 61.9 82.1 54.3 72.5 64.2    
Equity And Liabilities CZK mil 5,385 5,387 4,761 4,324 4,324    
growth rates              
Total Asset Growth % ... 0.042 -11.6 -9.17 0.009    
Shareholders' Equity Growth % ... -2.58 -6.68 -2.34 -3.10    
Net Debt Growth % ... 6.81 -16.8 -18.5 -40.3    
Total Debt Growth % ... -0.860 -13.0 -15.8 -17.2    
ratios              
Total Debt CZK mil 1,862 1,846 1,606 1,352 1,120    
Net Debt CZK mil 1,337 1,428 1,188 968 578    
Working Capital CZK mil 570 551 448 524 504    
Capital Employed CZK mil 3,879 3,529 3,049 2,840 2,607    
Net Debt/Equity 0.592 0.649 0.579 0.483 0.298    
Cost of Financing % ... -2.24 -4.19 -2.59 2.35    
cash flow Unit 2009 2010 2011 2012 2013 2014 2015
cash flow              
Net Profit CZK mil ... -13.2 -73.2 -51.3 -91.4    
Depreciation CZK mil ... 377 390 353 332    
ratios              
Days Sales Outstanding days ... 86.0 72.3 64.7 78.5    
Days Sales Of Inventory days ... 24.4 28.1 28.6 19.0    
Days Payable Outstanding days ... 77.4 68.9 49.4 66.7    
Cash Conversion Cycle days ... 33.0 31.5 43.9 30.8    
Cash Earnings CZK mil ... 364 316 302 241    
other data Unit 2009 2010 2011 2012 2013 2014 2015
other data              
ROA % ... -0.245 -1.44 -1.13 -2.11    
Gross Margin % ... 29.3 29.2 28.5 23.8    
Employees ... 2,050 1,620 1,542 1,553    
Cost Per Employee USD per month ... 2,011 2,450 2,395 2,391    
Cost Per Employee (Local Currency) CZK per month ... 38,436 43,335 46,856 46,773    
Staff Cost (As % Of Total Cost) % ... 22.2 22.3 22.4 19.6    
Effective Tax Rate % ... 73.4 12.9 28.1 17.4    
Domestic Sales CZK mil ... 3,528 3,049 3,143 3,411    
Revenues From Abroad CZK mil ... 614 719 701 956    
Revenues From Abroad (As % Of Total) % ... 14.8 19.1 18.2 21.9    
Sales from Rail Transport CZK mil ... ... ... ... ...    
Sales from Processing of Solid Fuels CZK mil ... ... ... ... ...    

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The AWT Group is a Czech Republic-based provider of rail transport services. The Company provides comprehensive transport solutions primarily to large industrial concerns in Central and Eastern Europe, mainly transporting heavy goods such as coal, steel and automobile industry parts. Its key services include long-distance rail transport, rail forwarding, the operation and development of rail sidings, and intermodal transport. The core of AWT Group’s business activities are in the Czech Republic. AWT has an extensive fleet of rolling stock, with more than 160 locomotives and 5,500 freight wagons, for both its own use and for lease to third parties. The key companies of the AWT Group are Advanced World Transport, a.s., AWT Čechofracht, a.s., AWT ROSCO, a.s. and AWT Rail HU Zrt.

Finance

Advanced World Transport has been growing its sales by a year on average in the last 5 years. EBITDA has fallen on average by 9.640000000000001% a year during that time to total of CZK 158 mil in 2015, or 3.94% of sales. That’s compared to 7.51% average margin seen in last five years.

The company netted CZK -118 mil in 2015 implying ROE of -5.93% and ROCE of -5.01%. Again, the average figures were -2.45% and -1.80%, respectively when looking at the previous 5 years.

Advanced World Transport’s net debt amounted to CZK 263 mil at the end of 2015, or 0.135 of equity. When compared to EBITDA, net debt was 1.67x, down when compared to average of 2.18x seen in the last 5 years.