Bohemia Energy

BohEnergy's Cash & Cash Equivalents fell 17.5% yoy to CZK 520 mil in 2015

By Helgi Analytics - April 2, 2020

Bohemia Energy's total assets reached CZK 9,362 mil at the end of 2015, up 14.8% compared to the previous year. Cu...

Profit Statement 2013 2014 2015
Sales CZK mil 9,059 8,448 8,121
Gross Profit CZK mil 1,007 1,419 1,160
EBITDA CZK mil 912 919 1,015
EBIT CZK mil 877 874 965
Financing Cost CZK mil 69.7 137 224
Pre-Tax Profit CZK mil 808 737 741
Net Profit CZK mil 652 590 592
Balance Sheet 2013 2014 2015
Total Assets CZK mil 8,743 8,157 9,362
Non-Current Assets CZK mil 292 291 1,438
Current Assets CZK mil 8,422 7,840 7,890
Working Capital CZK mil 414 319 199
Shareholders' Equity CZK mil 1,596 590 1,646
Liabilities CZK mil 7,147 7,567 7,716
Total Debt CZK mil 4,520 1,150 1,161
Net Debt CZK mil 4,142 520 641
Ratios 2013 2014 2015
ROE % 51.4 54.0 52.9
ROCE % 129 89.6 52.7
Gross Margin % 11.1 16.8 14.3
EBITDA Margin % 10.1 10.9 12.5
EBIT Margin % 9.68 10.3 11.9
Net Margin % 7.20 6.98 7.29
Net Debt/EBITDA 4.54 0.565 0.632
Net Debt/Equity 2.60 0.880 0.390
Cost of Financing % 1.71 4.84 19.4
Cash Flow 2013 2014 2015
Total Cash From Operations CZK mil ... ... ...
Total Cash From Investing CZK mil ... ... ...
Total Cash From Financing CZK mil ... ... ...
Net Change In Cash CZK mil ... ... ...
Cash Conversion Cycle days 16.4 12.0 7.85
Cash Earnings CZK mil 687 635 642
Free Cash Flow CZK mil ... ... ...

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summary Unit 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
income statement                    
Sales CZK mil       2,754 4,110 6,071 8,458 9,059    
Gross Profit CZK mil       76.2 190 313 1,181 1,007    
EBIT CZK mil       21.9 150 192 781 877    
Net Profit CZK mil       21.1 102 198 608 652    
ROE %       73.6 95.6 72.6 92.4 51.4    
EBIT Margin %       0.796 3.65 3.16 9.23 9.68    
Net Margin %       0.768 2.48 3.27 7.19 7.20    
Employees ... ...   122 133 167 246 459    
balance sheet                    
Total Assets CZK mil       3,081 3,867 5,323 6,861 8,743    
Non-Current Assets CZK mil       38.9 77.4 91.8 237 292    
Current Assets CZK mil       3,042 3,789 5,207 6,542 8,422    
Shareholders' Equity CZK mil       39.3 174 372 945 1,596    
Liabilities CZK mil       3,042 3,693 4,951 5,916 7,147    
Non-Current Liabilities CZK mil       3.11 8.75 4.75 3.52 0.605    
Current Liabilities CZK mil       3,025 3,650 4,649 5,788 6,687    
Net Debt/EBITDA       50.6 13.7 11.5 3.66 4.54    
Net Debt/Equity       37.6 12.7 6.32 3.10 2.60    
Cost of Financing % ...     -0.834 1.28 -1.96 0.998 1.71    
cash flow                    
Total Cash From Operations CZK mil ... ...   -59.8 54.3 580 ... ... ... ...
Total Cash From Investing CZK mil ... ...   -18.9 -37.9 -26.4 ... ... ... ...
Total Cash From Financing CZK mil ... ...   3.11 38.8 -0.146 ... ... ... ...
Net Change In Cash CZK mil ... ...   -75.5 55.3 553 ... ... ... ...
income statement Unit 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
income statement                    
Sales CZK mil       2,754 4,110 6,071 8,458 9,059    
Cost of Goods & Services CZK mil       2,678 3,920 5,758 7,276 8,051    
Gross Profit CZK mil       76.2 190 313 1,181 1,007    
Staff Cost CZK mil       26.2 48.5 93.8 393 173    
Other Cost CZK mil       20.8 -20.2 14.9 -12.9 -77.8    
EBITDA CZK mil       29.2 161 205 802 912    
Depreciation CZK mil       7.28 11.4 12.5 21.0 34.7    
EBIT CZK mil       21.9 150 192 781 877    
Financing Cost CZK mil       -10.2 26.2 -54.7 33.8 69.7    
Extraordinary Cost CZK mil       0 0 0 0 0    
Pre-Tax Profit CZK mil       32.1 124 247 747 808    
Tax CZK mil       11.0 21.7 48.5 138 155    
Minorities CZK mil       0 0 0 0 0    
Net Profit CZK mil       21.1 102 198 608 652    
growth rates                    
Total Revenue Growth % ...     93.8 49.2 47.7 39.3 7.10    
Operating Cost Growth % ...     146 -39.7 284 249 -74.9    
EBITDA Growth % ...     64.9 453 26.8 292 13.8    
EBIT Growth % ...     63.4 584 28.1 306 12.4    
Pre-Tax Profit Growth % ...     56.7 285 99.6 203 8.16    
Net Profit Growth % ...     54.9 382 94.5 207 7.27    
ratios                    
ROE %       73.6 95.6 72.6 92.4 51.4    
ROCE % ...     -129 -278 386 302 129    
Gross Margin %       2.77 4.61 5.16 14.0 11.1    
EBITDA Margin %       1.06 3.92 3.37 9.48 10.1    
EBIT Margin %       0.796 3.65 3.16 9.23 9.68    
Net Margin %       0.768 2.48 3.27 7.19 7.20    
Cost of Financing % ...     -0.834 1.28 -1.96 0.998 1.71    
Net Debt/EBITDA       50.6 13.7 11.5 3.66 4.54    
balance sheet Unit 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
balance sheet                    
Non-Current Assets CZK mil       38.9 77.4 91.8 237 292    
Property, Plant & Equipment CZK mil       16.2 20.2 29.9 36.2 65.3    
Intangible Assets CZK mil       4.18 13.8 18.6 27.3 39.3    
Goodwill CZK mil       0 0 0 0 0 ... ...
Current Assets CZK mil       3,042 3,789 5,207 6,542 8,422    
Inventories CZK mil       0 0 0 17.0 61.7    
Receivables CZK mil       68.0 66.1 81.6 182 469    
Cash & Cash Equivalents CZK mil       181 236 790 701 378    
Total Assets CZK mil       3,081 3,867 5,323 6,861 8,743    
Shareholders' Equity CZK mil       39.3 174 372 945 1,596    
Of Which Minority Interest CZK mil       0 0 0 0 0    
Liabilities CZK mil       3,042 3,693 4,951 5,916 7,147    
Non-Current Liabilities CZK mil       3.11 8.75 4.75 3.52 0.605    
Long-Term Debt CZK mil       0 0 0 0 0    
Deferred Tax Liabilities CZK mil       0 0 0 0 0    
Current Liabilities CZK mil       3,025 3,650 4,649 5,788 6,687    
Short-Term Debt CZK mil       1,657 2,450 3,140 3,634 4,520    
Trade Payables CZK mil       188 136 78.5 128 116    
Provisions CZK mil       13.5 1.79 1.38 1.38 63.7    
Equity And Liabilities CZK mil       3,081 3,867 5,323 6,861 8,743    
growth rates                    
Total Asset Growth % ...     106 25.5 37.7 28.9 27.4    
Shareholders' Equity Growth % ...     117 343 114 154 68.8    
Net Debt Growth % ...     178 50.0 6.14 24.8 41.2    
Total Debt Growth % ... ...   110 47.9 28.1 15.7 24.4    
ratios                    
Total Debt CZK mil       1,657 2,450 3,140 3,634 4,520    
Net Debt CZK mil       1,476 2,214 2,350 2,933 4,142    
Working Capital CZK mil       -120 -69.6 3.08 70.6 414    
Capital Employed CZK mil       -81.1 7.84 94.9 308 706    
Net Debt/Equity       37.6 12.7 6.32 3.10 2.60    
Cost of Financing % ...     -0.834 1.28 -1.96 0.998 1.71    
cash flow Unit 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
cash flow                    
Net Profit CZK mil       21.1 102 198 608 652    
Depreciation CZK mil       7.28 11.4 12.5 21.0 34.7    
Non-Cash Items CZK mil ... ...   -229 -8.60 442 ... ... ... ...
Change in Working Capital CZK mil ... ...   141 -50.4 -72.7 ... ... ... ...
Total Cash From Operations CZK mil ... ...   -59.8 54.3 580 ... ... ... ...
Capital Expenditures CZK mil ... ...   -18.9 -38.4 -26.3 ... ... ... ...
Other Investments CZK mil ... ...   0 0.530 -0.112 ... ... ... ...
Total Cash From Investing CZK mil ... ...   -18.9 -37.9 -26.4 ... ... ... ...
Issuance Of Debt CZK mil ... ...   869 794 689 ... ... ... ...
Total Cash From Financing CZK mil ... ...   3.11 38.8 -0.146 ... ... ... ...
Net Change In Cash CZK mil ... ...   -75.5 55.3 553 ... ... ... ...
ratios                    
Days Sales Outstanding days       9.02 5.87 4.91 7.85 18.9    
Days Sales Of Inventory days       0 0 0 0.851 2.80    
Days Payable Outstanding days       25.6 12.6 4.98 6.44 5.25    
Cash Conversion Cycle days       -16.6 -6.76 -0.072 2.26 16.4    
Cash Earnings CZK mil       28.4 113 211 629 687    
Free Cash Flow CZK mil ... ...   -78.7 16.5 554 ... ... ... ...
other data Unit 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
other data                    
ROA %       0.924 2.93 4.31 9.98 8.36    
Gross Margin %       2.77 4.61 5.16 14.0 11.1    
Cost Per Employee USD per month ... ...   939 1,590 2,648 6,803 1,606    
Cost Per Employee (Local Currency) CZK per month ... ...   17,889 30,385 46,828 133,067 31,423    
Staff Cost (As % Of Total Cost) %       0.959 1.22 1.60 5.12 2.12    
Effective Tax Rate %       34.1 17.5 19.7 18.5 19.2    
Sales Of Electricity CZK mil ... ... ... ... ... 3,856 4,801 5,415    
Sales of Natural Gas CZK mil ... ... ... ... ... 2,168 3,621 3,603    
Capital Expenditures (As % of Sales) % ... ...   0.686 0.935 0.433 ... ... ... ...

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Feb 2014
Statistical Dossier
Feb 2014
Company Report

BOHEMIA ENERGY is the largest alternative supplier of electricity and gas in the Czech Republic. The Company was founded in 2005 as an electricity supplier to small and medium-sized enterprises. In 2006, Bohemia Energy started supplying households and in 2008, the Company got a license to trade in gas. At the end of 2013, the Company had a portfolio exceeding 512,158 clients (316,390 on electricity and 195,768 on gas). The company is present on Slovak market through its subsidiary Slovakia Energy, which is the largest alternative energy supplier on the market. Bohemia Energy is part of the Bohemia Energy Group which in addition to the Company consist also Comfort Energy and Slovakia Energy. At the end of 2013 the Group registered 696,075 customers.

Finance

Bohemia Energy has been growing its sales by a year on average in the last 5 years. EBITDA has grown on average by 44.5% a year during that time to total of CZK 1,015 mil in 2015, or 12.5% of sales. That’s compared to 9.26% average margin seen in last five years.

The company netted CZK 592 mil in 2015 implying ROE of 52.9% and ROCE of 52.7%. Again, the average figures were 64.6% and 192%, respectively when looking at the previous 5 years.

Bohemia Energy’s net debt amounted to CZK 641 mil at the end of 2015, or 0.390 of equity. When compared to EBITDA, net debt was 0.632x, down when compared to average of 4.18x seen in the last 5 years.