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, ...
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...
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 - 2...
| Profit Statement | 2016 | 2017 | 2018 | |
| Sales | 14,895 | 16,108 | 17,949 | |
| Gross Profit | CZK mil | 4,302 | 4,734 | 5,282 |
| EBITDA | 951 | 892 | 921 | |
| EBIT | 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:
| overview | Unit | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 |
| income statement | |||||||
| Sales | 12,602 | 12,320 | 14,155 | 14,895 | |||
| Gross Profit | CZK mil | 3,402 | 3,539 | 3,975 | 4,302 | ||
| EBIT | 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 | 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 | 416 | 814 | 930 | 951 | |||
| Depreciation | CZK mil | 292 | 291 | 499 | 148 | ||
| EBIT | 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:
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 compared to the previous year. Historically, the firm’s net debt to equity reached a high of 801% in 2015 and a low of 23.8...
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 firmâ€...
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...
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 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 921 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.
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