BENU Ceska Republika

BENU Ceska Republika's net profit rose 19.1% yoy to CZK 223 mil in 2019

By Helgi Analytics - August 27, 2020

BENU Ceska Republika made a net profit of CZK 223 mil with revenues of CZK 6,230 mil in 2019, up by 19.1% and up by 19....

BENU Ceska Republika's employees rose 12.2% yoy to 1,033 in 2019

By Helgi Analytics - August 27, 2020

BENU Ceska Republika employed 1,033 employees in 2019, up 12.2% compared to the previous year. Historically, between 20...

BENU Ceska Republika's Net Debt/EBITDA rose 151% yoy to 0.041 in 2019

By Helgi Analytics - August 27, 2020

BENU Ceska Republika's net debt stood at CZK 15.9 mil and accounted for 2.28% of equity at the end of 2019. The ratio is ...

Profit Statement 2017 2018 2019
Sales CZK mil 4,195 5,207 6,230
Gross Profit CZK mil 1,217 1,501 1,804
EBITDA CZK mil 264 327 386
EBIT CZK mil 205 255 306
Financing Cost CZK mil 1.89 2.09 3.55
Pre-Tax Profit CZK mil 193 238 286
Net Profit CZK mil 151 187 223
Dividends CZK mil 70.0 196 ...
Balance Sheet 2017 2018 2019
Total Assets CZK mil 1,362 1,587 2,153
Non-Current Assets CZK mil 377 378 523
Current Assets CZK mil 822 1,031 1,445
Working Capital CZK mil 201 245 427
Shareholders' Equity CZK mil 552 591 698
Liabilities CZK mil 810 996 1,455
Total Debt CZK mil 43.2 33.4 213
Net Debt CZK mil -69.9 -26.6 15.9
Ratios 2017 2018 2019
ROE % 27.4 32.8 34.6
ROCE % 26.1 31.2 28.3
Gross Margin % 29.0 28.8 29.0
EBITDA Margin % 6.30 6.28 6.19
EBIT Margin % 4.89 4.90 4.91
Net Margin % 3.60 3.59 3.58
Net Debt/EBITDA -0.265 -0.081 0.041
Net Debt/Equity % -12.7 -4.51 2.28
Cost of Financing % 8.76 5.47 2.88
Cash Flow 2017 2018 2019
Total Cash From Operations CZK mil 180 261 398
Total Cash From Investing CZK mil -78.2 -183 -460
Total Cash From Financing CZK mil -96.2 -79.8 63.9
Net Change In Cash CZK mil 5.45 -2.24 2.35
Cash Conversion Cycle days 9.93 9.65 14.1
Cash Earnings CZK mil 210 259 303
Free Cash Flow CZK mil 102 77.6 -61.5

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overview Unit 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
income statement                      
Sales CZK mil         2,713 2,869 3,756 4,195 4,195    
Gross Profit CZK mil         785 848 1,079 1,217 1,217    
EBIT CZK mil         147 130 139 205 205    
Net Profit CZK mil         117 94.1 117 151 151    
                         
ROE % ...       31.0 20.7 23.5 28.2 27.4    
EBIT Margin %         5.41 4.52 3.71 4.89 4.89    
Net Margin %         4.32 3.28 3.12 3.60 3.60    
Employees         595 633 744 856 856    
balance sheet                      
Total Assets CZK mil         913 1,061 1,244 1,362 1,362    
Non-Current Assets CZK mil         405 403 357 377 377    
Current Assets CZK mil         473 560 717 822 822    
                         
Shareholders' Equity CZK mil         436 474 521 552 552    
Liabilities CZK mil         476 586 723 810 810    
Non-Current Liabilities CZK mil         16.7 16.6 4.94 0 0    
Current Liabilities CZK mil         446 542 681 758 758    
                         
Net Debt/EBITDA         -1.06 -0.991 -0.360 -0.428 -0.265    
Net Debt/Equity %         -47.2 -37.8 -16.0 -20.5 -12.7    
Cost of Financing % ...   ... ... ... ... ... ... 8.76    
cash flow                      
Total Cash From Operations CZK mil ... ... ... ... ... ... 95.3 180 180    
Total Cash From Investing CZK mil ... ... ... ... ... ... -15.3 -78.2 -78.2    
Total Cash From Financing CZK mil ... ... ... ... ... ... -81.4 -96.2 -96.2    
Net Change In Cash CZK mil ... ... ... ... ... ... -1.41 5.45 5.45    
income statement Unit 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
income statement                      
Sales CZK mil         2,713 2,869 3,756 4,195 4,195    
Cost of Goods & Services CZK mil         1,929 2,021 2,677 2,978 2,978    
Gross Profit CZK mil         785 848 1,079 1,217 1,217    
Staff Cost CZK mil         327 354 463 516 516    
EBITDA CZK mil         194 181 231 264 264    
Depreciation CZK mil         47.1 51.4 91.5 58.9 58.9    
EBIT CZK mil         147 130 139 205 205    
Net Financing Cost CZK mil         1.50 6.71 -11.6 12.6 12.6    
Financing Cost CZK mil         0.776 1.27 2.87 1.89 1.89    
Financing Income CZK mil         0.891 0.709 0.933 0.104 0.104    
Pre-Tax Profit CZK mil         145 123 151 193 193    
Tax CZK mil         28.1 29.0 33.8 41.6 41.6    
Minorities CZK mil         0 0 0 0 0    
Net Profit CZK mil         117 94.1 117 151 151    
Net Profit Avail. to Common CZK mil         117 94.1 117 151 151    
Dividends CZK mil ... ... ... ... ... 90.0 120 120 70.0   ...
growth rates                      
Total Revenue Growth % ...       -2.75 5.73 30.9 11.7 0    
Staff Cost Growth % ...       -0.855 8.44 30.7 11.3 0    
EBITDA Growth % ...       6.03 -6.52 27.4 14.4 0    
EBIT Growth % ...       6.07 -11.6 7.34 47.3 0    
Pre-Tax Profit Growth % ...       5.75 -15.3 22.7 27.6 0    
Net Profit Growth % ...       12.7 -19.7 24.5 29.0 0    
ratios                      
ROE % ...       31.0 20.7 23.5 28.2 27.4    
ROA % ...       13.8 9.54 10.2 11.6 11.1    
ROCE % ...       26.5 18.8 23.2 28.1 26.1    
Gross Margin %         28.9 29.5 28.7 29.0 29.0    
EBITDA Margin %         7.14 6.31 6.14 6.30 6.30    
EBIT Margin %         5.41 4.52 3.71 4.89 4.89    
Net Margin %         4.32 3.28 3.12 3.60 3.60    
Payout Ratio % ... ... ... ... ... 95.7 102 79.5 46.4   ...
Cost of Financing % ...   ... ... ... ... ... ... 8.76    
Net Debt/EBITDA         -1.06 -0.991 -0.360 -0.428 -0.265    
balance sheet Unit 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
balance sheet                      
Cash & Cash Equivalents CZK mil         13.0 17.5 20.1 25.6 25.6    
Receivables CZK mil         241 284 375 413 413    
Inventories CZK mil         205 244 321 383 383    
Current Assets CZK mil         473 560 717 822 822    
Property, Plant & Equipment CZK mil         209 239 278 274 274    
LT Investments & Receivables CZK mil         193 162 63.0 87.5 87.5    
Intangible Assets CZK mil         2.10 2.32 16.5 16.0 16.0    
Goodwill CZK mil         0 0 0 0 0    
Non-Current Assets CZK mil         405 403 357 377 377    
Total Assets CZK mil         913 1,061 1,244 1,362 1,362    
                         
Trade Payables CZK mil         363 418 557 596 596    
Short-Term Debt CZK mil         0 0 0 0 43.2    
Other ST Liabilities CZK mil         82.3 124 124 162 119    
Current Liabilities CZK mil         446 542 681 758 758    
Long-Term Debt CZK mil         0 0 0 0 0    
Other LT Liabilities CZK mil         16.7 16.6 4.94 0 0    
Non-Current Liabilities CZK mil         16.7 16.6 4.94 0 0    
Liabilities CZK mil         476 586 723 810 810    
Equity Before Minority Interest CZK mil         436 474 521 552 552    
Minority Interest CZK mil         0 0 0 0 0    
Equity CZK mil         436 474 521 552 552    
growth rates                      
Total Asset Growth % ...       17.0 16.2 17.3 9.49 0    
Shareholders' Equity Growth % ...       36.3 8.77 9.75 5.95 0    
Net Debt Growth % ...       482 -12.8 -53.7 36.1 -38.2    
Total Debt Growth % ...   ... ... ... ... ... ... ...    
ratios                      
Total Debt CZK mil         0 0 0 0 43.2    
Net Debt CZK mil         -206 -180 -83.1 -113 -69.9    
Working Capital CZK mil         82.8 110 140 201 201    
Capital Employed CZK mil         487 512 497 578 578    
Net Debt/Equity %         -47.2 -37.8 -16.0 -20.5 -12.7    
Current Ratio         1.06 1.03 1.05 1.08 1.08    
Quick Ratio         0.570 0.556 0.581 0.579 0.579    
cash flow Unit 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
cash flow                      
Net Profit CZK mil         117 94.1 117 151 151    
Depreciation CZK mil         47.1 51.4 91.5 58.9 58.9    
Non-Cash Items CZK mil ... ... ... ... ... ... -82.7 30.7 -30.1    
Change in Working Capital CZK mil ... ... ... ... ... ... -30.6 -60.8 0    
Total Cash From Operations CZK mil ... ... ... ... ... ... 95.3 180 180    
                         
Capital Expenditures CZK mil ... ... ... ... ... ... -56.1 -78.7 -78.7    
Other Investing Activities CZK mil ... ... ... ... ... ... 40.7 0.528 0.528    
Total Cash From Investing CZK mil ... ... ... ... ... ... -15.3 -78.2 -78.2    
                         
Dividends Paid CZK mil ... ... ... ... ... ... -90.0 -120 -120    
Issuance Of Shares CZK mil ... ... ... ... ... ... 0 0 0    
Issuance Of Debt CZK mil ... ... ... ... ... ... 8.58 23.8 23.8    
Total Cash From Financing CZK mil ... ... ... ... ... ... -81.4 -96.2 -96.2    
Net Change In Cash CZK mil ... ... ... ... ... ... -1.41 5.45 5.45    
ratios                      
Days Sales Outstanding days         32.4 36.1 36.5 35.9 35.9    
Days Sales Of Inventory days         38.8 44.0 43.8 47.0 47.0    
Days Payable Outstanding days         68.7 75.5 75.9 73.0 73.0    
Cash Conversion Cycle days         2.48 4.64 4.40 9.93 9.93    
Cash Earnings CZK mil         164 145 209 210 210    
Free Cash Flow CZK mil ... ... ... ... ... ... 80.0 102 102    
Capital Expenditures (As % of Sales) % ... ... ... ... ... ... 1.49 1.88 1.88    
other ratios Unit 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
                       
Employees         595 633 744 856 856    
Cost Per Employee USD per month         2,340 2,184 2,174 1,989 2,137    
Cost Per Employee (Local Currency) CZK per month         45,783 46,667 51,888 50,186 50,186    
Staff Cost (As % of Sales) %         12.0 12.4 12.3 12.3 12.3    
Effective Tax Rate %         19.4 23.5 22.4 21.6 21.6    
Total Revenue Growth (5-year average) % ... ... ... ... ... 0.273 7.37 9.61 8.50    
Total Revenue Growth (10-year average) % ... ... ... ... ... ... ... ... ... ...  

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BENU Ceska Republika's ROCE fell 9.05% yoy to 28.3% in 2019

By Helgi Analytics - August 27, 2020

BENU Ceska Republika made a net profit of CZK 223 mil in 2019, up 19.1% compared to the previous year. Historically, between 2009 and 2019, the company's net profit reached a high of CZK 223 mil in 2019 and a low of CZK 65.9 mil in 2009. The result implie...

BENU Ceska Republika's Capital Expenditures fell 21.1% yoy to CZK 222 mil in 2019

By Helgi Analytics - August 27, 2020

BENU Ceska Republika invested a total of CZK 222 mil in 2019, up 21.1% compared to the previous year. Historically, between 2015 - 2019, the company's investments stood at a high of CZK 222 mil in 2019 and a low of CZK 56.1 mil in 2015. ...

BENU Ceska Republika's Net Margin fell 0.449% yoy to 3.58% in 2019

By Helgi Analytics - August 26, 2020

BENU Ceska Republika made a net profit of CZK 223 mil with revenues of CZK 6,230 mil in 2019, up by 19.1% and up by 19.6%, respectively, compared to the previous year. This translates into a net margin of 3.58%. Historically, between 2009 and 2019, ...

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BENU Ceska Republika is a Czech Republic-based chain of pharmacies. The Company operated 240 brick and mortar pharmacies in 2019 and online e-shop. Benu is a part of PHOENIX Group, which is involved in wholesale pharmaceutical business in 27 European countries.

BENU Ceska Republika Logo

Finance

BENU Ceska Republika has been growing its sales by 16.8% a year on average in the last 5 years. EBITDA has grown on average by 16.3% a year during that time to total of CZK 386 mil in 2019, or 6.19% of sales. That’s compared to 6.24% average margin seen in last five years.

The company netted CZK 223 mil in 2019 implying ROE of 34.6% and ROCE of 28.3%. Again, the average figures were 29.3% and 27.4%, respectively when looking at the previous 5 years.

BENU Ceska Republika’s net debt amounted to CZK 15.9 mil at the end of 2019, or 2.28% of equity. When compared to EBITDA, net debt was 0.041x, up when compared to average of -0.219x seen in the last 5 years.