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DATART International

DATART Int.'s Cash & Cash Equivalents rose 183% yoy to CZK 194 mil in 2014

By Helgi Library - April 2, 2020

DATART International's total assets reached CZK 1,397 mil at the end of 2014, up 11.2% compared to the previous year. ...

Profit Statement 2012 2013 2014
Sales CZK mil 4,797 4,753 4,903
Gross Profit CZK mil 532 528 548
EBITDA CZK mil 26.5 70.1 118
EBIT CZK mil -71.8 -20.3 35.0
Financing Cost CZK mil 32.7 36.8 26.0
Pre-Tax Profit CZK mil -105 -57.0 8.95
Net Profit CZK mil -102 -57.0 8.95
Balance Sheet 2012 2013 2014
Total Assets CZK mil 1,267 1,256 1,397
Non-Current Assets CZK mil 231 180 141
Current Assets CZK mil 1,007 1,057 1,224
Working Capital CZK mil 189 130 83.1
Shareholders' Equity CZK mil 300 243 217
Liabilities CZK mil 967 1,013 1,180
Total Debt CZK mil 36.1 13.8 4.43
Net Debt CZK mil -29.5 -55.0 -190
Ratios 2012 2013 2014
ROE % -29.1 -21.0 3.88
ROCE % -27.0 -15.6 3.35
Gross Margin % 11.1 11.1 11.2
EBITDA Margin % 0.552 1.48 2.40
EBIT Margin % -1.50 -0.426 0.713
Net Margin % -2.14 -1.20 0.183
Net Debt/EBITDA -1.11 -0.784 -1.61
Net Debt/Equity % -9.81 -22.6 -87.4
Cost of Financing % 133 147 285
Cash Flow 2012 2013 2014
Total Cash From Operations CZK mil -135 123 185
Total Cash From Investing CZK mil -79.3 -40.1 -85.7
Total Cash From Financing CZK mil 24.5 -24.5 -35.0
Net Change In Cash CZK mil -190 58.5 64.3
Cash Conversion Cycle days 15.4 10.7 6.30
Cash Earnings CZK mil -4.22 33.4 91.7
Free Cash Flow CZK mil -214 83.0 99.3

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summary Unit 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
income statement                    
Sales CZK mil ... ...   4,101 3,551 3,621 4,800 4,797    
Gross Profit CZK mil ... ...   661 533 488 590 532    
EBIT CZK mil ... ...   147 32.6 17.1 19.7 -71.8    
Net Profit CZK mil ... ...   94.6 6.29 -7.33 -12.9 -102    
ROE % ... ...   26.0 1.82 -2.12 -3.47 -29.1    
EBIT Margin % ... ...   3.58 0.919 0.471 0.410 -1.50    
Net Margin % ... ...   2.31 0.177 -0.202 -0.269 -2.14    
Employees ... ... ... ... 904 870 1,107 1,150    
balance sheet                    
Total Assets CZK mil ... ...   1,347 1,128 1,213 1,419 1,267    
Non-Current Assets CZK mil ... ...   268 235 257 266 231    
Current Assets CZK mil ... ...   1,058 878 940 1,138 1,007    
Shareholders' Equity CZK mil ... ...   343 349 342 403 300    
Liabilities CZK mil ... ...   1,004 778 871 1,016 967    
Non-Current Liabilities CZK mil ... ...   0.671 0.419 0.920 1.92 2.13    
Current Liabilities CZK mil ... ...   891 685 755 836 756    
Net Debt/EBITDA ... ...   -0.586 -0.854 -0.446 -0.398 -1.11    
Net Debt/Equity % ... ...   -36.5 -29.1 -13.5 -12.7 -9.81    
Cost of Financing % ... ... ... 10.2 35.2 110 228 133    
cash flow                    
Total Cash From Operations CZK mil ... ... ... ... ... ... 122 -135    
Total Cash From Investing CZK mil ... ... ... ... ... ... -64.2 -79.3    
Total Cash From Financing CZK mil ... ... ... ... ... ... -9.74 24.5    
Net Change In Cash CZK mil ... ... ... ... ... ... 48.1 -190    
income statement Unit 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
income statement                    
Sales CZK mil ... ...   4,101 3,551 3,621 4,800 4,797    
Cost of Goods & Services CZK mil ... ...   3,439 3,018 3,133 4,210 4,265    
Gross Profit CZK mil ... ...   661 533 488 590 532    
Staff Cost CZK mil ... ...   451 430 457 546 576    
Other Cost CZK mil ... ...   -3.99 -16.0 -72.4 -85.3 -69.7    
EBITDA CZK mil ... ...   214 119 104 129 26.5    
Depreciation CZK mil ... ...   66.9 86.4 86.8 109 98.2    
EBIT CZK mil ... ...   147 32.6 17.1 19.7 -71.8    
Financing Cost CZK mil ... ...   10.7 19.7 19.5 29.9 32.7    
Extraordinary Cost CZK mil ... ...   0 0 0 0 0    
Pre-Tax Profit CZK mil ... ...   136 12.9 -2.46 -10.2 -105    
Tax CZK mil ... ...   41.6 6.64 4.87 2.69 -2.05    
Minorities CZK mil ... ...   0 0 0 0 0    
Net Profit CZK mil ... ...   94.6 6.29 -7.33 -12.9 -102    
growth rates                    
Total Revenue Growth % ... ... ... -11.6 -13.4 1.99 32.5 -0.054    
Operating Cost Growth % ... ... ... -7.31 -7.57 -7.12 20.0 9.76    
EBITDA Growth % ... ... ... -0.764 -44.3 -12.8 23.9 -79.4    
EBIT Growth % ... ... ... 10.4 -77.8 -47.7 15.2 -465    
Pre-Tax Profit Growth % ... ... ... 19.8 -90.5 -119 315 923    
Net Profit Growth % ... ... ... 19.9 -93.4 -217 76.2 693    
ratios                    
ROE % ... ...   26.0 1.82 -2.12 -3.47 -29.1    
ROCE % ... ... ... 21.1 1.78 -2.59 -4.15 -27.0    
Gross Margin % ... ...   16.1 15.0 13.5 12.3 11.1    
EBITDA Margin % ... ...   5.22 3.35 2.87 2.68 0.552    
EBIT Margin % ... ...   3.58 0.919 0.471 0.410 -1.50    
Net Margin % ... ...   2.31 0.177 -0.202 -0.269 -2.14    
Cost of Financing % ... ... ... 10.2 35.2 110 228 133    
Net Debt/EBITDA ... ...   -0.586 -0.854 -0.446 -0.398 -1.11    
balance sheet Unit 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
balance sheet                    
Non-Current Assets CZK mil ... ...   268 235 257 266 231    
Property, Plant & Equipment CZK mil ... ...   232 196 166 172 143    
Intangible Assets CZK mil ... ...   36.5 39.3 90.5 94.2 88.3    
Current Assets CZK mil ... ...   1,058 878 940 1,138 1,007    
Inventories CZK mil ... ...   567 505 523 685 696    
Receivables CZK mil ... ...   103 66.6 50.6 43.8 78.2    
Cash & Cash Equivalents CZK mil ... ...   215 124 59.4 64.4 65.6    
Total Assets CZK mil ... ...   1,347 1,128 1,213 1,419 1,267    
Shareholders' Equity CZK mil ... ...   343 349 342 403 300    
Of Which Minority Interest CZK mil ... ...   0 0 0 0 0    
Liabilities CZK mil ... ...   1,004 778 871 1,016 967    
Non-Current Liabilities CZK mil ... ...   0.671 0.419 0.920 1.92 2.13    
Long-Term Debt CZK mil ... ...   0.671 0.419 0.920 1.92 2.13    
Deferred Tax Liabilities CZK mil ... ...   0 0 0 0 0    
Current Liabilities CZK mil ... ...   891 685 755 836 756    
Short-Term Debt CZK mil ... ...   89.0 22.0 12.2 11.2 33.9    
Trade Payables CZK mil ... ...   517 524 548 655 586    
Provisions CZK mil ... ...   34.9 15.4 13.6 21.6 17.0    
Equity And Liabilities CZK mil ... ...   1,347 1,128 1,213 1,419 1,267    
growth rates                    
Total Asset Growth % ... ... ... 13.1 -16.3 7.59 17.0 -10.7    
Shareholders' Equity Growth % ... ... ... -11.2 1.83 -2.10 17.8 -25.4    
Net Debt Growth % ... ... ... -427 -18.9 -54.5 10.7 -42.5    
Total Debt Growth % ... ... ... -26.1 -75.0 -41.5 0.290 175    
ratios                    
Total Debt CZK mil ... ...   89.7 22.4 13.1 13.1 36.1    
Net Debt CZK mil ... ...   -125 -102 -46.3 -51.2 -29.5    
Working Capital CZK mil ... ...   154 48.4 25.8 73.8 189    
Capital Employed CZK mil ... ...   422 284 283 340 420    
Net Debt/Equity % ... ...   -36.5 -29.1 -13.5 -12.7 -9.81    
Cost of Financing % ... ... ... 10.2 35.2 110 228 133    
cash flow Unit 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
cash flow                    
Net Profit CZK mil ... ...   94.6 6.29 -7.33 -12.9 -102    
Depreciation CZK mil ... ...   66.9 86.4 86.8 109 98.2    
Non-Cash Items CZK mil ... ... ... ... ... ... 74.0 -16.1    
Change in Working Capital CZK mil ... ... ... ... ... ... -48.0 -115    
Total Cash From Operations CZK mil ... ... ... ... ... ... 122 -135    
Capital Expenditures CZK mil ... ... ... ... ... ... -62.9 -83.5    
Other Investments CZK mil ... ... ... ... ... ... -1.32 4.19    
Total Cash From Investing CZK mil ... ... ... ... ... ... -64.2 -79.3    
Issuance Of Debt CZK mil ... ... ... ... ... ... 0.038 22.9    
Total Cash From Financing CZK mil ... ... ... ... ... ... -9.74 24.5    
Net Change In Cash CZK mil ... ... ... ... ... ... 48.1 -190    
ratios                    
Days Sales Outstanding days ... ...   9.19 6.85 5.10 3.33 5.95    
Days Sales Of Inventory days ... ...   60.2 61.1 61.0 59.4 59.6    
Days Payable Outstanding days ... ...   54.9 63.3 63.8 56.8 50.1    
Cash Conversion Cycle days ... ...   14.5 4.64 2.21 5.94 15.4    
Cash Earnings CZK mil ... ...   162 92.7 79.5 96.1 -4.22    
Free Cash Flow CZK mil ... ... ... ... ... ... 57.8 -214    
other data Unit 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
other data                    
ROA % ... ...   7.46 0.508 -0.626 -0.981 -7.63    
Gross Margin % ... ...   16.1 15.0 13.5 12.3 11.1    
Employees ... ... ... ... 904 870 1,107 1,150    
Cost Per Employee USD per month ... ... ... ... 2,078 2,288 2,325 2,133    
Cost Per Employee (Local Currency) CZK per month ... ... ... ... 39,598 43,728 41,126 41,717    
Staff Cost (As % Of Total Cost) % ... ...   11.4 12.2 12.7 11.4 11.8    
Effective Tax Rate % ... ...   30.5 51.3 -198 -26.3 1.96    
Domestic Sales CZK mil ... ...   4,046 3,459 3,520 3,597 3,721    
Capital Expenditures (As % of Sales) % ... ... ... ... ... ... 1.31 1.74    
Revenues From Abroad CZK mil ... ...   54.5 91.2 101 1,203 1,076    
Revenues From Abroad (As % Of Total) % ... ...   1.33 2.57 2.80 25.1 22.4    
Branches       28.0 29.0 31.0 44.0 43.0    
Sales per Branch ... ...   146 122 117 109 112    
Employees per Branch ... ... ... ... 31.2 28.1 25.2 26.7    

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Datart International, a.s. is a Czech Republic-based retailer with consumer electronics. In 2015, the Company operated 42 stores, of which 31 in the Czech Republic and 11 in Slovakia with a total store space of 25,000 sqm located mainly in large shopping centres. The Company was founded in 1990, employs some 1,200 staff and is based in Prague, Czech Republic.

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Finance

DATART International has been growing its sales by a year on average in the last 5 years. EBITDA has fallen on average by 0.224% a year during that time to total of CZK 118 mil in 2014, or 2.40% of sales. That’s compared to 2.00% average margin seen in last five years.

The company netted CZK 8.95 mil in 2014 implying ROE of 3.88% and ROCE of 3.35%. Again, the average figures were -10.4% and -9.19%, respectively when looking at the previous 5 years.

DATART International’s net debt amounted to CZK -190 mil at the end of 2014, or -87.4% of equity. When compared to EBITDA, net debt was -1.61x, down when compared to average of -0.871x seen in the last 5 years.