Dr.Max

Dr.Max's employees rose 7.75% yoy to 3,323 in 2018

By Helgi Analytics - May 11, 2020

Dr.Max employed 3,323 employees in 2018, up 7.75% compared to the previous year. Historically, between 2013 and 2018, ...

Dr.Max's net profit fell 18.2% yoy to CZK 108 mil in 2018

By Helgi Analytics - May 11, 2020

Dr.Max made a net profit of CZK 108 mil with revenues of CZK 17,949 mil in 2018, down by 18.2% and up by 11.4%, res...

Dr.Max's Net Debt/EBITDA fell 25.8% yoy to 6.44 in 2018

By Helgi Analytics - May 11, 2020

Dr.Max's net debt stood at CZK 5,931 mil and accounted for 159% of equity at the end of 2018. The ratio is down 254 pp ...

Profit Statement 2016 2017 2018
Sales CZK mil 14,895 16,108 17,949
Gross Profit CZK mil 4,302 4,734 5,282
EBITDA CZK mil 951 892 921
EBIT CZK mil 802 578 572
Financing Cost CZK mil 473 340 329
Pre-Tax Profit CZK mil 296 200 169
Net Profit CZK mil 238 132 108
Balance Sheet 2016 2017 2018
Total Assets CZK mil 13,123 13,660 13,921
Non-Current Assets CZK mil 10,220 10,261 10,249
Current Assets CZK mil 2,716 3,226 3,500
Working Capital CZK mil 94.6 -66.1 32.1
Shareholders' Equity CZK mil 1,820 1,879 3,737
Liabilities CZK mil 11,302 11,781 10,183
Total Debt CZK mil 8,268 8,158 6,360
Net Debt CZK mil 8,079 7,747 5,931
Ratios 2016 2017 2018
ROE % 16.3 7.15 3.85
ROCE % 2.32 1.29 1.06
Gross Margin % 28.9 29.4 29.4
EBITDA Margin % 6.38 5.54 5.13
EBIT Margin % 5.39 3.59 3.19
Net Margin % 1.60 0.821 0.603
Net Debt/EBITDA 8.50 8.68 6.44
Net Debt/Equity % 444 412 159
Cost of Financing % 5.51 4.14 4.53
Cash Flow 2016 2017 2018
Total Cash From Operations CZK mil 629 932 -450
Total Cash From Investing CZK mil -201 -361 -331
Total Cash From Financing CZK mil -354 -352 721
Net Change In Cash CZK mil 74.1 219 -60.7
Cash Conversion Cycle days -9.82 -17.1 -14.7
Cash Earnings CZK mil 386 446 457
Free Cash Flow CZK mil 428 571 -782

Get all company financials in excel:

Download Sample   $19.99

overview Unit 2013 2014 2015 2016 2017 2018
income statement            
Sales CZK mil 12,602 12,320 14,155 14,895    
Gross Profit CZK mil 3,402 3,539 3,975 4,302    
EBIT CZK mil 125 524 431 802    
Net Profit CZK mil 9.27 828 -187 238    
               
ROE % ... 13.5 -14.7 16.3    
EBIT Margin % 0.990 4.25 3.05 5.39    
Net Margin % 0.074 6.72 -1.32 1.60    
Employees 2,221 2,345 2,684 2,838    
balance sheet            
Total Assets CZK mil 16,359 12,992 12,901 13,123    
Non-Current Assets CZK mil 11,102 10,573 10,168 10,220    
Current Assets CZK mil 5,127 2,270 2,558 2,716    
               
Shareholders' Equity CZK mil 10,818 1,453 1,096 1,820    
Liabilities CZK mil 5,541 11,538 11,805 11,302    
Non-Current Liabilities CZK mil 2,619 8,075 8,509 7,880    
Current Liabilities CZK mil 2,731 3,283 3,094 3,171    
               
Net Debt/EBITDA 6.17 10.5 9.44 8.50    
Net Debt/Equity % 23.8 591 801 444    
Cost of Financing % ... 8.19 5.96 5.51    
cash flow            
Total Cash From Operations CZK mil 398 1,347 -91.2 629    
Total Cash From Investing CZK mil -152 -2,073 -72.5 -201    
Total Cash From Financing CZK mil -497 675 198 -354    
Net Change In Cash CZK mil -251 -50.4 34.6 74.1    
income statement Unit 2013 2014 2015 2016 2017 2018
income statement            
Sales CZK mil 12,602 12,320 14,155 14,895    
Cost of Goods & Services CZK mil 9,200 8,780 10,180 10,593    
Gross Profit CZK mil 3,402 3,539 3,975 4,302    
Staff Cost CZK mil 1,339 1,419 1,686 1,843    
EBITDA CZK mil 416 814 930 951    
Depreciation CZK mil 292 291 499 148    
EBIT CZK mil 125 524 431 802    
Net Financing Cost CZK mil 0.213 -383 570 506    
Financing Cost CZK mil 144 485 526 473    
Financing Income CZK mil 155 80.0 0.638 0.392    
Pre-Tax Profit CZK mil 140 903 -138 296    
Tax CZK mil 131 75.1 48.4 58.4    
Minorities CZK mil 0 0 0 0    
Net Profit CZK mil 9.27 828 -187 238    
Net Profit Avail. to Common CZK mil 9.27 828 -187 238    
growth rates            
Total Revenue Growth % ... -2.24 14.9 5.23    
Staff Cost Growth % ... 5.95 18.8 9.32    
EBITDA Growth % ... 95.5 14.3 2.21    
EBIT Growth % ... 319 -17.7 86.1    
Pre-Tax Profit Growth % ... 544 -115 -314    
Net Profit Growth % ... 8,833 -123 -227    
ratios            
ROE % ... 13.5 -14.7 16.3    
ROA % ... 5.64 -1.44 1.83    
ROCE % ... 7.49 -1.80 2.32    
Gross Margin % 27.0 28.7 28.1 28.9    
EBITDA Margin % 3.30 6.61 6.57 6.38    
EBIT Margin % 0.990 4.25 3.05 5.39    
Net Margin % 0.074 6.72 -1.32 1.60    
Cost of Financing % ... 8.19 5.96 5.51    
Net Debt/EBITDA 6.17 10.5 9.44 8.50    
balance sheet Unit 2013 2014 2015 2016 2017 2018
balance sheet            
Cash & Cash Equivalents CZK mil 118 67.8 102 177    
Receivables CZK mil 1,513 1,180 1,350 1,315    
Inventories CZK mil 686 889 1,105 1,225    
Current Assets CZK mil 5,127 2,270 2,558 2,716    
Property, Plant & Equipment CZK mil 279 337 384 413    
LT Investments & Receivables CZK mil 411 83.0 5.47 13.3    
Intangible Assets CZK mil 10,412 10,153 9,779 9,793    
Goodwill CZK mil 10,408 10,131 9,742 9,793    
Non-Current Assets CZK mil 11,102 10,573 10,168 10,220    
Total Assets CZK mil 16,359 12,992 12,901 13,123    
               
Trade Payables CZK mil 1,692 2,133 2,418 2,445    
Short-Term Debt CZK mil 491 677 384 390    
Other ST Liabilities CZK mil 548 474 292 336    
Current Liabilities CZK mil 2,731 3,283 3,094 3,171    
Long-Term Debt CZK mil 2,609 8,061 8,505 7,879    
Other LT Liabilities CZK mil 9.34 13.7 4.02 1.36    
Non-Current Liabilities CZK mil 2,619 8,075 8,509 7,880    
Liabilities CZK mil 5,541 11,538 11,805 11,302    
Equity Before Minority Interest CZK mil 10,818 1,453 1,096 1,820    
Minority Interest CZK mil 0 0 0 0    
Equity CZK mil 10,818 1,453 1,096 1,820    
growth rates            
Total Asset Growth % ... -20.6 -0.698 1.72    
Shareholders' Equity Growth % ... -86.6 -24.6 66.1    
Net Debt Growth % ... 234 2.26 -8.00    
Total Debt Growth % ... 182 1.73 -6.98    
ratios            
Total Debt CZK mil 3,101 8,738 8,889 8,268    
Net Debt CZK mil 2,571 8,587 8,781 8,079    
Working Capital CZK mil 506 -63.3 37.2 94.6    
Capital Employed CZK mil 11,608 10,510 10,205 10,314    
Net Debt/Equity % 23.8 591 801 444    
Current Ratio 1.88 0.691 0.827 0.857    
Quick Ratio 0.597 0.380 0.469 0.470    
cash flow Unit 2013 2014 2015 2016 2017 2018
cash flow            
Net Profit CZK mil 9.27 828 -187 238    
Depreciation CZK mil 292 291 499 148    
Non-Cash Items CZK mil ... -341 -303 300    
Change in Working Capital CZK mil ... 569 -101 -57.4    
Total Cash From Operations CZK mil 398 1,347 -91.2 629    
               
Capital Expenditures CZK mil -177 -225 -76.4 -205    
Other Investing Activities CZK mil 24.7 -1,849 3.92 4.45    
Total Cash From Investing CZK mil -152 -2,073 -72.5 -201    
               
Dividends Paid CZK mil 0 0 0 0    
Issuance Of Shares CZK mil 0 0 0 0    
Issuance Of Debt CZK mil -497 675 198 -354    
Total Cash From Financing CZK mil -497 675 198 -354    
Net Change In Cash CZK mil -251 -50.4 34.6 74.1    
ratios            
Days Sales Outstanding days 43.8 35.0 34.8 32.2    
Days Sales Of Inventory days 27.2 37.0 39.6 42.2    
Days Payable Outstanding days 67.1 88.7 86.7 84.3    
Cash Conversion Cycle days 3.88 -16.7 -12.3 -9.82    
Cash Earnings CZK mil 301 1,119 312 386    
Free Cash Flow CZK mil 246 -726 -164 428    
Capital Expenditures (As % of Sales) % 1.40 1.82 0.540 1.38    
other ratios Unit 2013 2014 2015 2016 2017 2018
             
Employees 2,221 2,345 2,684 2,838    
Cost Per Employee USD per month 2,568 2,359 2,193 2,144    
Cost Per Employee (Local Currency) CZK per month 50,250 50,423 52,334 54,105    
Staff Cost (As % of Sales) % 10.6 11.5 11.9 12.4    
Effective Tax Rate % 93.4 8.31 -35.0 19.7    
Total Revenue Growth (5-year average) % ... ... ... ... ...  

Get all company financials in excel:

Download Sample   $19.99

Dr.Max's Capital Expenditures rose 8.55% yoy to CZK 336 mil in 2018

By Helgi Analytics - May 11, 2020

Dr.Max invested a total of CZK 336 mil in 2018, down 8.55% compared to the previous year. Historically, between 2013 - 2018, the company's investments stood at a high of CZK 368 mil in 2017 and a low of CZK 76.4 mil in 2015. As a perc...

Dr.Max's Net Margin fell 26.6% yoy to 0.603% in 2018

By Helgi Analytics - May 11, 2020

Dr.Max made a net profit of CZK 108 mil with revenues of CZK 17,949 mil in 2018, down by 18.2% and up by 11.4%, respectively, compared to the previous year. This translates into a net margin of 0.603%. Historically, between 2013 and 2018, the firm...

Dr.Max's ROCE fell 18.1% yoy to 1.06% in 2018

By Helgi Analytics - May 11, 2020

Dr.Max made a net profit of CZK 108 mil in 2018, down 18.2% compared to the previous year. Historically, between 2013 and 2018, the company's net profit reached a high of CZK 828 mil in 2014 and a low of CZK -187 mil in 2015. The result implies a return o...

More News

Dr.Max Czech is a Czech Republic-based operator of pharmacy stores. Its pharmacies are located in department stores, hospitals, clinics, historical city centers and commercial shopping stores. The company also operates as a pharmaceutical wholesaler in the Czech Republic. It was founded in 2002 and is headquartered in Brno, Czech Republic. Dr. Max Group is fully owned by Penta Investments, an investment group.

Dr.Max Logo

Finance

Dr.Max has been growing its sales by 7.33% a year on average in the last 5 years. EBITDA has grown on average by 17.2% a year during that time to total of CZK 921 mil in 2018, or 5.13% of sales. That’s compared to 6.05% average margin seen in last five years.

The company netted CZK 108 mil in 2018 implying ROE of 3.85% and ROCE of 1.06%. Again, the average figures were 5.23% and 2.07%, respectively when looking at the previous 5 years.

Dr.Max’s net debt amounted to CZK 5,931 mil at the end of 2018, or 159% of equity. When compared to EBITDA, net debt was 6.44x, down when compared to average of 8.72x seen in the last 5 years.