Atos IT Solutions Czech Republic

Atos CR's Cash & Cash Equivalents fell 44.6% yoy to CZK 288 mil in 2017

By Helgi Analytics - April 2, 2020

Atos IT Solutions Czech Republic's total assets reached CZK 807 mil at the end of 2017, down 21.3% compared to the previous year...

Profit Statement 2015 2016 2017
Sales CZK mil 1,100 1,331 1,297
Gross Profit CZK mil 402 401 385
EBITDA CZK mil 89.2 111 61.9
EBIT CZK mil 50.4 79.4 21.1
Financing Cost CZK mil 5.10 5.33 3.64
Pre-Tax Profit CZK mil 45.3 74.1 17.4
Net Profit CZK mil 44.7 59.8 11.1
Dividends CZK mil 0 154 ...
Balance Sheet 2015 2016 2017
Total Assets CZK mil 711 1,025 807
Non-Current Assets CZK mil 62.9 95.9 89.8
Current Assets CZK mil 631 912 703
Working Capital CZK mil 83.9 71.1 173
Shareholders' Equity CZK mil 324 383 240
Liabilities CZK mil 287 567 487
Total Debt CZK mil 31.6 55.9 38.8
Net Debt CZK mil -336 -464 -249
Ratios 2015 2016 2017
ROE % 12.2 16.9 3.56
ROCE % 35.8 38.1 5.16
Gross Margin % 36.5 30.2 29.7
EBITDA Margin % 8.11 8.35 4.77
EBIT Margin % 4.58 5.97 1.62
Net Margin % 4.06 4.50 0.855
Net Debt/EBITDA -3.76 -4.18 -4.03
Net Debt/Equity % -104 -121 -104
Cost of Financing % 24.9 12.2 7.69
Cash Flow 2015 2016 2017
Total Cash From Operations CZK mil ... 218 -43.1
Total Cash From Investing CZK mil ... -65.0 -34.6
Total Cash From Financing CZK mil ... 0 -154
Net Change In Cash CZK mil ... 153 -232
Cash Conversion Cycle days 11.0 -3.56 37.0
Cash Earnings CZK mil 83.6 91.5 51.9
Free Cash Flow CZK mil ... 153 -77.7

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summary Unit 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
income statement                              
Sales CZK mil                 420 1,158 987 1,016 1,100    
Gross Profit CZK mil                 266 512 409 357 402    
EBIT CZK mil                 18.3 113 101 48.1 50.4    
Net Profit CZK mil                 13.6 88.6 72.4 34.6 44.7    
ROE %                 6.65 34.6 21.5 8.88 12.2    
EBIT Margin %                 4.36 9.75 10.2 4.73 4.58    
Net Margin %                 3.24 7.65 7.34 3.41 4.06    
Employees                 350 328 303 311 277    
balance sheet                              
Total Assets CZK mil                 817 732 732 853 711    
Non-Current Assets CZK mil                 61.3 88.8 62.5 46.4 62.9    
Current Assets CZK mil                 747 643 621 790 631    
Shareholders' Equity CZK mil                 211 300 372 407 324    
Liabilities CZK mil                 302 213 206 282 287    
Non-Current Liabilities CZK mil                 0 12.2 6.09 0 31.6    
Current Liabilities CZK mil                 302 201 199 282 255    
Net Debt/EBITDA                 -12.0 -2.42 -3.06 -5.52 -3.76    
Net Debt/Equity %                 -137 -120 -114 -111 -104    
Cost of Financing % ... ...     ...       ... 89.3 -47.9 -53.3 24.9    
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 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
income statement                              
Sales CZK mil                 420 1,158 987 1,016 1,100    
Cost of Goods & Services CZK mil                 153 646 578 659 698    
Gross Profit CZK mil                 266 512 409 357 402    
Staff Cost CZK mil                 118 398 352 327 337    
Other Cost CZK mil                 124 -35.5 -81.5 -52.0 -24.6    
EBITDA CZK mil                 24.1 149 138 82.1 89.2    
Depreciation CZK mil                 5.84 36.3 37.3 34.1 38.9    
EBIT CZK mil                 18.3 113 101 48.1 50.4    
Financing Cost CZK mil                 0.287 5.44 -4.38 -4.12 5.10    
Extraordinary Cost CZK mil                 -0.574 0 8.75 8.25 0    
Pre-Tax Profit CZK mil                 18.6 107 96.6 43.9 45.3    
Tax CZK mil                 4.96 18.8 24.2 9.34 0.565    
Minorities CZK mil                 0 0 0 0 0    
Net Profit CZK mil                 13.6 88.6 72.4 34.6 44.7    
Dividends CZK mil ... ... ... ...   ... ... ... ... ... ... ... 0   ...
growth rates                              
Total Revenue Growth % ...               -61.4 176 -14.7 2.98 8.27    
Operating Cost Growth % ...               -49.0 49.8 -25.4 1.71 13.7    
EBITDA Growth % ...               -84.3 518 -7.30 -40.6 8.65    
EBIT Growth % ...               -84.6 517 -10.6 -52.4 4.80    
Pre-Tax Profit Growth % ...               -84.0 478 -10.1 -54.5 3.03    
Net Profit Growth % ...               -85.2 551 -18.3 -52.2 29.2    
ratios                              
ROE %                 6.65 34.6 21.5 8.88 12.2    
ROCE %                 5.65 33.8 45.2 32.9 35.8    
Gross Margin %                 63.4 44.2 41.4 35.2 36.5    
EBITDA Margin %                 5.75 12.9 14.0 8.08 8.11    
EBIT Margin %                 4.36 9.75 10.2 4.73 4.58    
Net Margin %                 3.24 7.65 7.34 3.41 4.06    
Payout Ratio % ... ... ... ...   ... ... ... ... ... ... ... 0   ...
Cost of Financing % ... ...     ...       ... 89.3 -47.9 -53.3 24.9    
Net Debt/EBITDA                 -12.0 -2.42 -3.06 -5.52 -3.76    
balance sheet Unit 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
balance sheet                              
Non-Current Assets CZK mil                 61.3 88.8 62.5 46.4 62.9    
Property, Plant & Equipment CZK mil                 38.7 52.2 39.7 34.2 59.7    
Intangible Assets CZK mil                 25.6 36.6 22.8 12.2 3.20    
Current Assets CZK mil                 747 643 621 790 631    
Inventories CZK mil                 41.4 18.6 28.8 31.7 60.4    
Receivables CZK mil                 299 171 105 262 172    
Cash & Cash Equivalents CZK mil                 291 373 429 463 367    
Total Assets CZK mil                 817 732 732 853 711    
Shareholders' Equity CZK mil                 211 300 372 407 324    
Of Which Minority Interest CZK mil                 0 0 0 0 0    
Liabilities CZK mil                 302 213 206 282 287    
Non-Current Liabilities CZK mil                 0 12.2 6.09 0 31.6    
Long-Term Debt CZK mil                 0 12.2 6.09 0 31.6    
Current Liabilities CZK mil                 302 201 199 282 255    
Short-Term Debt CZK mil                 0 0 0 9.38 0    
Trade Payables CZK mil                 89.6 65.5 89.3 237 149    
Provisions CZK mil                 301 217 152 116 88.8    
Equity And Liabilities CZK mil                 817 732 732 853 711    
growth rates                              
Total Asset Growth % ...               41.5 -10.4 -0.082 16.6 -16.6    
Shareholders' Equity Growth % ...               6.88 41.9 24.1 9.29 -20.5    
Net Debt Growth % ...               223 24.2 17.1 7.25 -25.9    
Total Debt Growth % ... ... ...   ... ...     ... ... -50.0 53.9 237    
ratios                              
Total Debt CZK mil                 0 12.2 6.09 9.38 31.6    
Net Debt CZK mil                 -291 -361 -423 -453 -336    
Working Capital CZK mil                 251 124 44.9 56.8 83.9    
Capital Employed CZK mil                 312 213 107 103 147    
Net Debt/Equity %                 -137 -120 -114 -111 -104    
Cost of Financing % ... ...     ...       ... 89.3 -47.9 -53.3 24.9    
cash flow Unit 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
cash flow                              
Net Profit CZK mil                 13.6 88.6 72.4 34.6 44.7    
Depreciation CZK mil                 5.84 36.3 37.3 34.1 38.9    
Non-Cash Items CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ...    
Change in Working Capital CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ...    
Total Cash From Operations CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ...    
Capital Expenditures CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ...    
Other Investments CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ...    
Total Cash From Investing CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ...    
Dividends Paid CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ...    
Issuance Of Shares CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ...    
Issuance Of Debt CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ...    
Total Cash From Financing CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ...    
Net Change In Cash CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ...    
ratios                              
Days Sales Outstanding days                 260 53.8 39.0 94.2 57.1    
Days Sales Of Inventory days                 98.4 10.5 18.2 17.6 31.6    
Days Payable Outstanding days                 213 37.0 56.4 131 77.7    
Cash Conversion Cycle days                 145 27.3 0.764 -19.6 11.0    
Cash Earnings CZK mil                 19.4 125 110 68.7 83.6    
Free Cash Flow CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ...    
other data Unit 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
other data                              
ROA %                 1.95 11.4 9.89 4.37 5.72    
Gross Margin %                 63.4 44.2 41.4 35.2 36.5    
Cost Per Employee USD per month ... ... ... ...         1,593 5,174 4,949 4,102 4,253    
Cost Per Employee (Local Currency) CZK per month ... ... ... ...         28,179 101,210 96,836 87,659 101,523    
Staff Cost (As % Of Total Cost) %                 29.5 38.1 39.7 33.8 32.1    
Effective Tax Rate %                 26.7 17.5 25.0 21.3 1.25    
Domestic Sales CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ...    
Revenues From Abroad CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ...    
Revenues From Abroad (As % Of Total) % ... ... ... ... ... ... ... ... ... ... ... ... ...    
Capital Expenditures (As % of Sales) % ... ... ... ... ... ... ... ... ... ... ... ... ...    

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Atos IT Solutions and Services, s.r.o. is a Czech Republic-based subsidiary of Atos SE (Societas Europaea). Atos SE provides digital services with annual revenue accounting for EUR 11 bil employing 93,000 employees in 72 countries in 2014. Serving a global client base, the Group provides Consulting & Systems Integration services, Managed Services & BPO, Cloud operations, Big Data & Cyber-security solutions, as well as transactional services through Worldline. The Company works with clients across different business sectors such as Defense, Financial Services, Health, Manufacturing, Media, Utilities, Public sector, Retail, Telecommunications, and Transportation.

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Finance

Atos IT Solutions Czech Republic has been growing its sales by a year on average in the last 5 years. EBITDA has fallen on average by 16.1% a year during that time to total of CZK 61.9 mil in 2017, or 4.77% of sales. That’s compared to 8.66% average margin seen in last five years.

The company netted CZK 11.1 mil in 2017 implying ROE of 3.56% and ROCE of 5.16%. Again, the average figures were 12.6% and 31.4%, respectively when looking at the previous 5 years.

Atos IT Solutions Czech Republic’s net debt amounted to CZK -249 mil at the end of 2017, or -104% of equity. When compared to EBITDA, net debt was -4.03x, up when compared to average of -4.11x seen in the last 5 years.