Carbounion Bohemia

Carbounion's Cash & Cash Equivalents fell 47.7% yoy to CZK 188 mil in 2015

By Helgi Analytics - April 2, 2020

Carbounion Bohemia's total assets reached CZK 2,310 mil at the end of 2015, up 19.3% compared to the previous year. ...

Profit Statement 2013 2014 2015
Sales CZK mil 7,391 6,437 6,358
Gross Profit CZK mil 237 245 227
EBITDA CZK mil 116 153 149
EBIT CZK mil 111 148 143
Financing Cost CZK mil -184 -92.6 -170
Pre-Tax Profit CZK mil 295 240 312
Net Profit CZK mil 262 223 284
Balance Sheet 2013 2014 2015
Total Assets CZK mil 2,010 1,936 2,310
Non-Current Assets CZK mil 528 543 585
Current Assets CZK mil 1,466 1,370 1,667
Working Capital CZK mil 137 91.7 94.7
Shareholders' Equity CZK mil 981 1,237 1,466
Liabilities CZK mil 1,030 699 845
Total Debt CZK mil 0 1.52 0.066
Net Debt CZK mil -277 -358 -188
Ratios 2013 2014 2015
ROE % 26.0 20.1 21.0
ROCE % ... 34.4 43.2
Gross Margin % 3.21 3.81 3.58
EBITDA Margin % 1.57 2.38 2.34
EBIT Margin % 1.50 2.30 2.24
Net Margin % 3.54 3.47 4.47
Net Debt/EBITDA -2.38 -2.34 -1.27
Net Debt/Equity -0.282 -0.290 -0.128
Cost of Financing % -2,339 -12,180 -21,394
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 5.52 3.87 3.93
Cash Earnings CZK mil 267 228 290
Free Cash Flow CZK mil ... ... ...

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summary Unit 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
income statement                            
Sales CZK mil               10,578 11,052 10,722 10,188 7,391    
Gross Profit CZK mil               697 391 505 468 237    
EBIT CZK mil               523 255 343 261 111    
Net Profit CZK mil               261 204 293 242 262    
ROE %               55.1 32.0 38.7 26.9 26.0    
EBIT Margin %               4.95 2.31 3.20 2.57 1.50    
Net Margin %               2.47 1.85 2.73 2.38 3.54    
balance sheet                            
Total Assets CZK mil               1,656 3,155 3,188 2,516 2,010    
Non-Current Assets CZK mil               386 509 592 402 528    
Current Assets CZK mil               1,266 2,644 2,594 2,089 1,466    
Shareholders' Equity CZK mil               526 747 767 1,032 981    
Liabilities CZK mil               1,130 2,408 2,421 1,484 1,030    
Non-Current Liabilities CZK mil               2.22 64.7 65.6 1.94 0.410    
Current Liabilities CZK mil               1,101 2,263 2,276 1,452 1,029    
Net Debt/EBITDA               -0.804 -1.02 -0.776 -1.43 -2.38    
Net Debt/Equity               -0.815 -0.366 -0.357 -0.377 -0.282    
Cost of Financing % ... ...     ... ... ... ... -1,515 -340 -396 -2,339    
cash flow                            
Total Cash From Operations CZK mil     ...         ... -59.9 ... 190 ... ... ...
Total Cash From Investing CZK mil               ... -236 ... 44.1 ... ... ...
Total Cash From Financing CZK mil               ... 150 ... -113 ... ... ...
Net Change In Cash CZK mil     ...         ... -145 ... 121 ... ... ...
income statement Unit 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
income statement                            
Sales CZK mil               10,578 11,052 10,722 10,188 7,391    
Cost of Goods & Services CZK mil               9,881 10,661 10,216 9,720 7,154    
Gross Profit CZK mil               697 391 505 468 237    
Staff Cost CZK mil               161 125 153 162 112    
Other Cost CZK mil               2.91 -2.18 -0.746 33.9 8.70    
EBITDA CZK mil               533 268 353 272 116    
Depreciation CZK mil               10.2 13.1 10.1 11.0 5.58    
EBIT CZK mil               523 255 343 261 111    
Financing Cost CZK mil               171 -72.7 -32.7 -50.1 -184    
Extraordinary Cost CZK mil               -0.278 -0.855 -0.001 -0.356 0    
Pre-Tax Profit CZK mil               353 329 375 312 295    
Tax CZK mil               69.9 71.3 76.9 65.0 33.1    
Minorities CZK mil               21.5 53.7 5.47 4.89 0    
Net Profit CZK mil               261 204 293 242 262    
growth rates                            
Total Revenue Growth % ...             113 4.48 -2.99 -4.98 -27.5    
Operating Cost Growth % ...             123 -25.2 24.3 28.3 -38.1    
EBITDA Growth % ...             123 -49.7 31.4 -22.8 -57.3    
EBIT Growth % ...             124 -51.2 34.2 -23.7 -57.6    
Pre-Tax Profit Growth % ...             28.4 -6.70 14.1 -16.9 -5.50    
Net Profit Growth % ...             20.0 -21.9 43.7 -17.4 8.10    
ratios                            
ROE %               55.1 32.0 38.7 26.9 26.0    
ROCE % ...     ... ... ... ... ... ... ... ... ...    
Gross Margin %               6.59 3.54 4.71 4.59 3.21    
EBITDA Margin %               5.04 2.43 3.29 2.67 1.57    
EBIT Margin %               4.95 2.31 3.20 2.57 1.50    
Net Margin %               2.47 1.85 2.73 2.38 3.54    
Cost of Financing % ... ...     ... ... ... ... -1,515 -340 -396 -2,339    
Net Debt/EBITDA               -0.804 -1.02 -0.776 -1.43 -2.38    
balance sheet Unit 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
balance sheet                            
Non-Current Assets CZK mil               386 509 592 402 528    
Property, Plant & Equipment CZK mil               318 231 314 172 166    
Intangible Assets CZK mil ... ... ... ... ... ...   58.0 278 278 230 0.741    
Current Assets CZK mil               1,266 2,644 2,594 2,089 1,466    
Inventories CZK mil       ...   ...   49.0 3.88 3.88 24.9 29.6    
Receivables CZK mil             ... ... ... ... ... 894    
Cash & Cash Equivalents CZK mil               429 283 283 404 277    
Total Assets CZK mil               1,656 3,155 3,188 2,516 2,010    
Shareholders' Equity CZK mil               526 747 767 1,032 981    
Of Which Minority Interest CZK mil ... ... ... ... ... ... ... 22.9 66.0 66.0 6.87 0    
Liabilities CZK mil               1,130 2,408 2,421 1,484 1,030    
Non-Current Liabilities CZK mil               2.22 64.7 65.6 1.94 0.410    
Long-Term Debt CZK mil               0 0 0 0 0    
Deferred Tax Liabilities CZK mil             ... ... ... ... ... 0.407    
Current Liabilities CZK mil               1,101 2,263 2,276 1,452 1,029    
Short-Term Debt CZK mil               0 9.60 9.60 15.7 0    
Trade Payables CZK mil             ... ... ... ... ... 786    
Provisions CZK mil ... ...       ...   3.07 3.89 3.89 7.69 0    
Equity And Liabilities CZK mil               1,656 3,155 3,188 2,516 2,010    
growth rates                            
Total Asset Growth % ...             40.5 90.5 1.05 -21.1 -20.1    
Shareholders' Equity Growth % ...             24.8 42.0 2.70 34.5 -4.98    
Net Debt Growth % ...             78.1 -36.1 0 42.0 -28.8    
Total Debt Growth % ... ... ...   ... ... ... ... ... 0 63.9 -100 ...  
ratios                            
Total Debt CZK mil               0 9.60 9.60 15.7 0    
Net Debt CZK mil               -429 -274 -274 -389 -277    
Working Capital CZK mil       ...   ... ... ... ... ... ... 137    
Capital Employed CZK mil       ...   ... ... ... ... ... ... 664    
Net Debt/Equity               -0.815 -0.366 -0.357 -0.377 -0.282    
Cost of Financing % ... ...     ... ... ... ... -1,515 -340 -396 -2,339    
cash flow Unit 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
cash flow                            
Net Profit CZK mil               261 204 293 242 262    
Depreciation CZK mil               10.2 13.1 10.1 11.0 5.58    
Non-Cash Items CZK mil ...   ... ... ... ... ... ... ... ... ... ... ... ...
Change in Working Capital CZK mil ...     ... ... ... ... ... ... ... ... ... ... ...
Total Cash From Operations CZK mil     ...         ... -59.9 ... 190 ... ... ...
Capital Expenditures CZK mil               ... -343 ... -32.0 ... ... ...
Other Investments CZK mil               ... 107 ... 76.2 ... ... ...
Total Cash From Investing CZK mil               ... -236 ... 44.1 ... ... ...
Issuance Of Debt CZK mil ...             ... 9.60 ... 6.13 ... ... ...
Total Cash From Financing CZK mil               ... 150 ... -113 ... ... ...
Net Change In Cash CZK mil     ...         ... -145 ... 121 ... ... ...
ratios                            
Days Sales Outstanding days             ... ... ... ... ... 44.1    
Days Sales Of Inventory days       ...   ...   1.81 0.133 0.139 0.934 1.51    
Days Payable Outstanding days             ... ... ... ... ... 40.1    
Cash Conversion Cycle days       ...   ... ... ... ... ... ... 5.52    
Cash Earnings CZK mil               271 217 303 253 267    
Free Cash Flow CZK mil     ...         ... -296 ... 234 ... ... ...
other data Unit 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
other data                            
ROA %               18.4 8.48 9.24 8.49 11.6    
Gross Margin %               6.59 3.54 4.71 4.59 3.21    
Staff Cost (As % Of Total Cost) %               1.60 1.16 1.48 1.63 1.54    
Effective Tax Rate %               19.8 21.7 20.5 20.8 11.2    
Capital Expenditures (As % of Sales) %               ... 3.10 ... 0.314 ... ... ...
Revenues From Abroad CZK mil ... ... ... ... ... ... ... ... ... ... ... ...    
Revenues From Abroad (As % Of Total) % ... ... ... ... ... ... ... ... ... ... ... ...    

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Jun 2014
Statistical Dossier

Carbounion Bohemia spol. s r.o. is a Czech Republic-based coal and electricity trading company. The Company is one of the largest independent coal and electricity trading companies in Czech Republic. The Company's business covers the whole energy chain - from retailing and processing coal and lignite to supplying energy and gas. Carbounion Bohemia trades coal coming from the Czech largest coal producers, supplying companies and coal consumers in Hungary, Austria, Slovak Republic, Slovenia and Poland. The Company also imports coal from Russia and Poland. The Company was founded in 1998, its only owner and director is Petr Paukner

Finance

Carbounion Bohemia has been growing its sales by a year on average in the last 5 years. EBITDA has fallen on average by 11.2% a year during that time to total of CZK 149 mil in 2015, or 2.34% of sales. That’s compared to 2.45% average margin seen in last five years.

The company netted CZK 284 mil in 2015 implying ROE of 21.0% and ROCE of 43.2%. Again, the average figures were 26.5% and 38.8%, respectively when looking at the previous 5 years.

Carbounion Bohemia’s net debt amounted to CZK -188 mil at the end of 2015, or -0.128 of equity. When compared to EBITDA, net debt was -1.27x, up when compared to average of -1.64x seen in the last 5 years.