Brisk Tabor

Profit Statement 2013 2014 2015
Sales CZK mil 681 729 676
Gross Profit CZK mil 274 284 273
EBITDA CZK mil 41.1 74.7 69.3
EBIT CZK mil 15.3 47.5 40.2
Financing Cost CZK mil 4.64 2.46 21.6
Pre-Tax Profit CZK mil 10.7 45.1 18.6
Net Profit CZK mil 1.83 34.3 13.2
Balance Sheet 2013 2014 2015
Total Assets CZK mil 531 561 565
Non-Current Assets CZK mil 138 130 126
Current Assets CZK mil 385 425 433
Working Capital CZK mil 222 257 295
Shareholders' Equity CZK mil 150 186 178
Liabilities CZK mil 381 375 387
Total Debt CZK mil 283 263 296
Net Debt CZK mil 242 221 262
Ratios 2013 2014 2015
ROE % 1.23 20.4 7.22
ROCE % 0.522 9.19 3.26
Gross Margin % 40.3 39.0 40.4
EBITDA Margin % 6.04 10.3 10.3
EBIT Margin % 2.25 6.52 5.94
Net Margin % 0.269 4.71 1.95
Net Debt/EBITDA 5.88 2.96 3.78
Net Debt/Equity 1.61 1.19 1.47
Cost of Financing % 3.28 0.902 7.72
Cash Flow 2013 2014 2015
Total Cash From Operations CZK mil 56.8 38.6 20.1
Total Cash From Investing CZK mil -16.9 -20.0 -43.8
Total Cash From Financing CZK mil -14.9 -17.8 16.0
Net Change In Cash CZK mil 24.9 0.792 -7.67
Cash Conversion Cycle days 149 155 193
Cash Earnings CZK mil 27.7 61.5 42.3
Free Cash Flow CZK mil 39.8 18.6 -23.6

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summary Unit 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
income statement                                  
Sales CZK mil                     457 579 615 590 681    
Gross Profit CZK mil                     210 243 228 235 274    
EBIT CZK mil                     14.1 29.6 26.1 36.5 15.3    
Net Profit CZK mil                     -16.0 -14.7 2.80 4.60 1.83    
ROE %                     -10.2 -10.3 1.95 3.12 1.23    
EBIT Margin %                     3.09 5.11 4.24 6.18 2.25    
Net Margin %                     -3.51 -2.54 0.456 0.779 0.269    
Employees ...                   526 550 567 535 560    
balance sheet                                  
Total Assets CZK mil                     590 562 582 550 531    
Non-Current Assets CZK mil                     166 141 143 144 138    
Current Assets CZK mil                     412 410 429 399 385    
Shareholders' Equity CZK mil                     144 141 146 149 150    
Liabilities CZK mil                     446 420 436 401 381    
Non-Current Liabilities CZK mil                     4.87 4.75 4.71 9.03 11.5    
Current Liabilities CZK mil                     103 110 115 83.0 72.4    
Net Debt/EBITDA                     6.48 4.49 -0.139 -0.281 5.88    
Net Debt/Equity                     2.17 1.98 -0.045 -0.116 1.61    
Cost of Financing % ...                   9.29 15.2 14.9 ... 3.28    
cash flow                                  
Total Cash From Operations CZK mil                     23.1 41.2 9.66 27.4 56.8    
Total Cash From Investing CZK mil                     -13.5 -10.0 -19.4 -24.8 -16.9    
Total Cash From Financing CZK mil                     -11.9 -24.6 7.13 6.95 -14.9    
Net Change In Cash CZK mil                     -2.26 6.61 -2.62 9.62 24.9    
income statement Unit 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
income statement                                  
Sales CZK mil                     457 579 615 590 681    
Cost of Goods & Services CZK mil                     247 336 387 356 407    
Gross Profit CZK mil                     210 243 228 235 274    
Staff Cost CZK mil                     163 178 182 180 197    
Other Cost CZK mil                     -1.76 2.04 -1.21 -6.13 36.6    
EBITDA CZK mil                     48.2 62.4 46.9 61.3 41.1    
Depreciation CZK mil                     34.1 32.8 20.8 24.9 25.8    
EBIT CZK mil                     14.1 29.6 26.1 36.5 15.3    
Financing Cost CZK mil                     29.5 45.8 21.6 31.2 4.64    
Extraordinary Cost CZK mil                     0 0 0 0 0    
Pre-Tax Profit CZK mil                     -15.3 -16.2 4.54 5.27 10.7    
Tax CZK mil                     0.679 -1.52 1.74 0.665 8.82    
Minorities CZK mil                     0 0 0 0 0    
Net Profit CZK mil                     -16.0 -14.7 2.80 4.60 1.83    
growth rates                                  
Total Revenue Growth % ...                   -29.2 26.6 6.25 -4.02 15.4    
Operating Cost Growth % ...                   -21.6 11.6 0.279 -4.00 34.5    
EBITDA Growth % ...                   23.8 29.4 -24.9 30.8 -32.9    
EBIT Growth % ...                   -25,345 109 -11.8 39.7 -58.0    
Pre-Tax Profit Growth % ...                   244 5.65 -128 16.0 102    
Net Profit Growth % ...                   259 -8.32 -119 64.2 -60.1    
ratios                                  
ROE %                     -10.2 -10.3 1.95 3.12 1.23    
ROCE % ...                   -3.12 -3.57 0.876 1.39 0.522    
Gross Margin %                     45.9 41.9 37.0 39.8 40.3    
EBITDA Margin %                     10.5 10.8 7.62 10.4 6.04    
EBIT Margin %                     3.09 5.11 4.24 6.18 2.25    
Net Margin %                     -3.51 -2.54 0.456 0.779 0.269    
Cost of Financing % ...                   9.29 15.2 14.9 ... 3.28    
Net Debt/EBITDA                     6.48 4.49 -0.139 -0.281 5.88    
balance sheet Unit 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
balance sheet                                  
Non-Current Assets CZK mil                     166 141 143 144 138    
Property, Plant & Equipment CZK mil                     161 131 129 119 111    
Intangible Assets CZK mil                     4.89 4.32 6.00 9.08 8.09    
Current Assets CZK mil                     412 410 429 399 385    
Inventories CZK mil                     125 112 112 110 130    
Receivables CZK mil                     282 144 157 149 139    
Cash & Cash Equivalents CZK mil                     2.54 9.01 6.51 17.3 40.8    
Total Assets CZK mil                     590 562 582 550 531    
Shareholders' Equity CZK mil                     144 141 146 149 150    
Of Which Minority Interest CZK mil                     0 0 0 0 0    
Liabilities CZK mil                     446 420 436 401 381    
Non-Current Liabilities CZK mil                     4.87 4.75 4.71 9.03 11.5    
Long-Term Debt CZK mil                     75.2 51.6 0 0 46.5    
Deferred Tax Liabilities CZK mil                     4.78 2.44 2.98 2.71 2.73    
Current Liabilities CZK mil                     103 110 115 83.0 72.4    
Short-Term Debt CZK mil                     240 237 0 0 236    
Trade Payables CZK mil                     66.9 78.1 89.4 60.3 48.0    
Provisions CZK mil                     14.9 14.9 15.3 14.2 18.0    
Equity And Liabilities CZK mil                     590 562 582 550 531    
growth rates                                  
Total Asset Growth % ...                   -8.62 -4.70 3.50 -5.34 -3.57    
Shareholders' Equity Growth % ...                   -14.8 -1.77 2.92 2.32 0.809    
Net Debt Growth % ...                   -0.777 -10.4 -102 165 -1,502    
Total Debt Growth % ...                   -1.48 -8.22 -100 ... ...    
ratios                                  
Total Debt CZK mil                     315 289 0 0 283    
Net Debt CZK mil                     312 280 -6.51 -17.3 242    
Working Capital CZK mil                     340 177 179 199 222    
Capital Employed CZK mil                     506 318 322 343 360    
Net Debt/Equity                     2.17 1.98 -0.045 -0.116 1.61    
Cost of Financing % ...                   9.29 15.2 14.9 ... 3.28    
cash flow Unit 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
cash flow                                  
Net Profit CZK mil                     -16.0 -14.7 2.80 4.60 1.83    
Depreciation CZK mil                     34.1 32.8 20.8 24.9 25.8    
Non-Cash Items CZK mil ...                   18.3 -139 -12.4 17.5 52.5    
Change in Working Capital CZK mil ...                   -13.2 162 -1.58 -19.6 -23.4    
Total Cash From Operations CZK mil                     23.1 41.2 9.66 27.4 56.8    
Capital Expenditures CZK mil                     -22.0 -16.5 -19.7 -40.5 -17.0    
Other Investments CZK mil                     8.49 6.53 0.243 15.7 0.110    
Total Cash From Investing CZK mil                     -13.5 -10.0 -19.4 -24.8 -16.9    
Issuance Of Debt CZK mil ...                   -4.73 -25.9 -289 0 283    
Total Cash From Financing CZK mil                     -11.9 -24.6 7.13 6.95 -14.9    
Net Change In Cash CZK mil                     -2.26 6.61 -2.62 9.62 24.9    
ratios                                  
Days Sales Outstanding days                     225 90.6 92.9 92.1 74.7    
Days Sales Of Inventory days                     184 121 105 113 117    
Days Payable Outstanding days                     98.7 84.8 84.2 61.9 43.1    
Cash Conversion Cycle days                     310 127 114 143 149    
Cash Earnings CZK mil                     18.1 18.1 23.6 29.5 27.7    
Free Cash Flow CZK mil                     9.66 31.2 -9.75 2.66 39.8    
other data Unit 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
other data                                  
ROA %                     -2.60 -2.55 0.490 0.813 0.339    
Gross Margin %                     45.9 41.9 37.0 39.8 40.3    
Employees ...                   526 550 567 535 560    
Cost Per Employee USD per month ...                   1,357 1,413 1,512 1,431 1,497    
Cost Per Employee (Local Currency) CZK per month ...                   25,864 27,002 26,743 27,984 29,282    
Staff Cost (As % Of Total Cost) %                     36.8 32.4 30.9 32.4 29.6    
Effective Tax Rate %                     -4.42 9.38 38.3 12.6 82.8    
Domestic Sales CZK mil ...                   81.0 59.0 58.0 45.0 41.5    
Capital Expenditures (As % of Sales) %                     4.80 2.86 3.20 6.86 2.50    
Revenues From Abroad CZK mil ...                   355 496 519 496 580    
Revenues From Abroad (As % Of Total) % ...                   77.6 85.7 84.4 84.0 85.1    
Sales of Sparkplug CZK mil ... ... ... ... ... ...         364 450 442 437 465    
Sales of Technical Ceramics CZK mil ... ... ... ... ... ...         14.0 16.0 14.0 13.0 10.9    
Sales from Production of Machines & Speed Sensor CZK mil ... ... ... ... ... ...         59.0 90.0 122 91.0 145    

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Mar 2014
Statistical Dossier
Mar 2014
Company Report

Brisk Tabor a.s. is a Czech Republic-based producer of spark plugs and glow plugs. The history of the Company dates back to 1935 when a company named BRITA has been founded in a town called Tábor, producing spark-plugs with mica and later ceramic insulation. In 1992, a joint-stock company BRISK Tábor has been set up as a legal successor of the state-owned enterprise JISKRA. Since then, the Company has transformed into a key supplier of Skoda Auto and the Volkswagen Group. Nowadays, it exports its products into more than 50 countries in the world

Finance

Brisk Tabor has been growing its sales by a year on average in the last 5 years. EBITDA has grown on average by 2.13% a year during that time to total of CZK 69.3 mil in 2015, or 10.3% of sales. That’s compared to 8.91% average margin seen in last five years.

The company netted CZK 13.2 mil in 2015 implying ROE of 7.22% and ROCE of 3.26%. Again, the average figures were 6.78% and 3.05%, respectively when looking at the previous 5 years.

Brisk Tabor’s net debt amounted to CZK 262 mil at the end of 2015, or 1.47 of equity. When compared to EBITDA, net debt was 3.78x, up when compared to average of 2.44x seen in the last 5 years.