EXIM Tours

EXIM's Cash & Cash Equivalents fell 37.4% yoy to CZK 399 mil in 2014

By Helgi Analytics - April 2, 2020

EXIM Tours's total assets reached CZK 1,129 mil at the end of 2014, down 22.8% compared to the previous year. Curr...

Profit Statement 2012 2013 2014
Sales CZK mil 3,130 3,263 3,674
Gross Profit CZK mil 256 414 423
EBITDA CZK mil 123 192 177
EBIT CZK mil 117 186 171
Financing Cost CZK mil -71.9 44.2 -50.5
Pre-Tax Profit CZK mil 189 141 222
Net Profit CZK mil 153 113 175
Dividends CZK mil ... 183 499
Balance Sheet 2012 2013 2014
Total Assets CZK mil 1,718 1,461 1,129
Non-Current Assets CZK mil 14.1 97.1 82.5
Current Assets CZK mil 1,678 1,364 1,046
Working Capital CZK mil -339 -26.8 -207
Shareholders' Equity CZK mil 851 778 448
Liabilities CZK mil 867 683 680
Total Debt CZK mil 206 192 170
Net Debt CZK mil -910 -445 -229
Ratios 2012 2013 2014
ROE % 19.8 13.9 28.5
ROCE % -40.8 -89.1 -644
Gross Margin % 8.18 12.7 11.5
EBITDA Margin % 3.92 5.88 4.81
EBIT Margin % 3.75 5.69 4.66
Net Margin % 4.90 3.48 4.75
Net Debt/EBITDA -7.42 -2.32 -1.30
Net Debt/Equity -1.07 -0.572 -0.511
Cost of Financing % -31.4 22.2 -27.9
Cash Flow 2012 2013 2014
Total Cash From Operations CZK mil ... -291 340
Total Cash From Investing CZK mil ... -7.78 -7.35
Total Cash From Financing CZK mil ... -183 -567
Net Change In Cash CZK mil ... -482 -234
Cash Conversion Cycle days -45.0 -9.70 -26.4
Cash Earnings CZK mil 159 120 180
Free Cash Flow CZK mil ... -299 332

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summary Unit 2007 2008 2009 2010 2011 2012 2013 2014 2015
income statement                  
Sales CZK mil     3,400 3,292 3,179 3,130 3,263   ...
Gross Profit CZK mil     275 209 270 256 414   ...
EBIT CZK mil     123 60.0 133 117 186   ...
Net Profit CZK mil     134 141 132 153 113   ...
ROE %     37.4 28.6 20.9 19.8 13.9   ...
EBIT Margin %     3.63 1.82 4.18 3.75 5.69   ...
Net Margin %     3.94 4.29 4.16 4.90 3.48   ...
Employees     254 252 247 250 270   ...
balance sheet                  
Total Assets CZK mil     1,688 1,835 1,754 1,718 1,461   ...
Non-Current Assets CZK mil     40.0 47.9 43.2 14.1 97.1   ...
Current Assets CZK mil     1,609 1,774 1,684 1,678 1,364   ...
Shareholders' Equity CZK mil     425 566 698 851 778   ...
Liabilities CZK mil     1,263 1,269 1,056 867 683   ...
Non-Current Liabilities CZK mil     0 0 0 0 0   ...
Current Liabilities CZK mil     885 913 868 794 683   ...
Net Debt/EBITDA     -5.97 -14.2 -7.49 -7.42 -2.32   ...
Net Debt/Equity     -1.79 -1.62 -1.49 -1.07 -0.572   ...
Cost of Financing % ...   -11.7 -45.3 -12.4 -31.4 22.2   ...
cash flow                  
Total Cash From Operations CZK mil ... ... ... ... ... ... -291   ...
Total Cash From Investing CZK mil ... ... ... ... ... ... -7.78   ...
Total Cash From Financing CZK mil ... ... ... ... ... ... -183   ...
Net Change In Cash CZK mil ... ... ... ... ... ... -482   ...
income statement Unit 2007 2008 2009 2010 2011 2012 2013 2014 2015
income statement                  
Sales CZK mil     3,400 3,292 3,179 3,130 3,263   ...
Cost of Goods & Services CZK mil     3,125 3,083 2,908 2,873 2,849   ...
Gross Profit CZK mil     275 209 270 256 414   ...
Staff Cost CZK mil     123 132 135 137 113   ...
Other Cost CZK mil     24.4 12.4 -3.31 -4.05 109   ...
EBITDA CZK mil     128 64.6 138 123 192   ...
Depreciation CZK mil     4.01 4.58 5.66 5.54 6.18   ...
EBIT CZK mil     123 60.0 133 117 186   ...
Financing Cost CZK mil     -36.6 -114 -30.2 -71.9 44.2   ...
Extraordinary Cost CZK mil     -0.200 0 0 0 0   ...
Pre-Tax Profit CZK mil     160 174 163 189 141   ...
Tax CZK mil     26.5 33.0 30.8 35.9 28.1   ...
Minorities CZK mil     0 0 0 0 0   ...
Net Profit CZK mil     134 141 132 153 113   ...
Dividends CZK mil ... ... ... ... ... ... 183   ...
growth rates                  
Total Revenue Growth % ...   -3.50 -3.17 -3.46 -1.54 4.27   ...
Operating Cost Growth % ...   15.2 -1.60 -9.03 1.26 66.3    
EBITDA Growth % ...   -32.0 -49.3 114 -11.4 56.3   ...
EBIT Growth % ...   -32.7 -51.4 121 -11.8 58.4   ...
Pre-Tax Profit Growth % ...   -11.0 8.76 -6.53 16.0 -25.2   ...
Net Profit Growth % ...   -5.53 5.68 -6.53 15.9 -26.0   ...
ratios                  
ROE %     37.4 28.6 20.9 19.8 13.9   ...
ROCE % ...   -37.9 -44.1 -33.9 -40.8 -89.1   ...
Gross Margin %     8.08 6.36 8.50 8.18 12.7   ...
EBITDA Margin %     3.75 1.96 4.36 3.92 5.88   ...
EBIT Margin %     3.63 1.82 4.18 3.75 5.69   ...
Net Margin %     3.94 4.29 4.16 4.90 3.48   ...
Payout Ratio % ... ... ... ... ... ... 162   ...
Cost of Financing % ...   -11.7 -45.3 -12.4 -31.4 22.2   ...
Net Debt/EBITDA     -5.97 -14.2 -7.49 -7.42 -2.32   ...
balance sheet Unit 2007 2008 2009 2010 2011 2012 2013 2014 2015
balance sheet                  
Non-Current Assets CZK mil     40.0 47.9 43.2 14.1 97.1   ...
Property, Plant & Equipment CZK mil     39.4 47.4 42.9 13.7 15.1   ...
Intangible Assets CZK mil     0.627 0.511 0.371 0.384 3.67   ...
Current Assets CZK mil     1,609 1,774 1,684 1,678 1,364   ...
Inventories CZK mil     0.209 0 0 0 0   ...
Receivables CZK mil     272 230 81.5 190 386   ...
Cash & Cash Equivalents CZK mil     1,031 1,153 1,291 1,116 637   ...
Total Assets CZK mil     1,688 1,835 1,754 1,718 1,461   ...
Shareholders' Equity CZK mil     425 566 698 851 778   ...
Of Which Minority Interest CZK mil     0 0 0 0 0   ...
Liabilities CZK mil     1,263 1,269 1,056 867 683   ...
Non-Current Liabilities CZK mil     0 0 0 0 0   ...
Long-Term Debt CZK mil     0 0 0 0 0   ...
Deferred Tax Liabilities CZK mil     0 0 0 0 0   ...
Current Liabilities CZK mil     885 913 868 794 683   ...
Short-Term Debt CZK mil     270 234 253 206 192   ...
Trade Payables CZK mil     599 632 552 529 413   ...
Provisions CZK mil     47.3 50.4 52.1 50.7 1.62   ...
Equity And Liabilities CZK mil     1,688 1,835 1,754 1,718 1,461   ...
growth rates                  
Total Asset Growth % ...   12.1 8.69 -4.40 -2.04 -15.0   ...
Shareholders' Equity Growth % ...   46.0 33.3 23.4 21.9 -8.57   ...
Net Debt Growth % ...   11.5 20.7 13.0 -12.3 -51.1   ...
Total Debt Growth % ...   -24.2 -13.4 8.01 -18.6 -6.60   ...
ratios                  
Total Debt CZK mil     270 234 253 206 192   ...
Net Debt CZK mil     -761 -919 -1,038 -910 -445   ...
Working Capital CZK mil     -327 -402 -470 -339 -26.8   ...
Capital Employed CZK mil     -287 -354 -427 -325 70.3   ...
Net Debt/Equity     -1.79 -1.62 -1.49 -1.07 -0.572   ...
Cost of Financing % ...   -11.7 -45.3 -12.4 -31.4 22.2   ...
cash flow Unit 2007 2008 2009 2010 2011 2012 2013 2014 2015
cash flow                  
Net Profit CZK mil     134 141 132 153 113   ...
Depreciation CZK mil     4.01 4.58 5.66 5.54 6.18   ...
Non-Cash Items CZK mil ... ... ... ... ... ... -98.6   ...
Change in Working Capital CZK mil ... ... ... ... ... ... -312   ...
Total Cash From Operations CZK mil ... ... ... ... ... ... -291   ...
Capital Expenditures CZK mil ... ... ... ... ... ... -7.78   ...
Other Investments CZK mil ... ... ... ... ... ... 0   ...
Total Cash From Investing CZK mil ... ... ... ... ... ... -7.78   ...
Dividends Paid CZK mil ... ... ... ... ... ... -183   ...
Issuance Of Debt CZK mil ... ... ... ... ... ... -13.6   ...
Total Cash From Financing CZK mil ... ... ... ... ... ... -183   ...
Net Change In Cash CZK mil ... ... ... ... ... ... -482   ...
ratios                  
Days Sales Outstanding days     29.2 25.5 9.36 22.2 43.2   ...
Days Sales Of Inventory days     0.024 0 0 0 0   ...
Days Payable Outstanding days     69.9 74.8 69.3 67.2 52.9   ...
Cash Conversion Cycle days     -40.7 -49.3 -59.9 -45.0 -9.70   ...
Cash Earnings CZK mil     138 146 138 159 120   ...
Free Cash Flow CZK mil ... ... ... ... ... ... -299   ...
other data Unit 2007 2008 2009 2010 2011 2012 2013 2014 2015
other data                  
ROA %     8.38 8.03 7.37 8.83 7.14   ...
Gross Margin %     8.08 6.36 8.50 8.18 12.7   ...
Employees     254 252 247 250 270   ...
Cost Per Employee USD per month     2,113 2,290 2,576 2,342 1,778   ...
Cost Per Employee (Local Currency) CZK per month     40,265 43,772 45,557 45,808 34,780   ...
Staff Cost (As % Of Total Cost) %     3.75 4.10 4.43 4.56 3.66   ...
Effective Tax Rate %     16.5 18.9 18.9 19.0 19.8   ...
Capital Expenditures (As % of Sales) % ... ... ... ... ... ... 0.239   ...
Number of Branches ... ... ... ... ... ... ...   ...

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EXIM TOURS a.s is a Czech Republic-based travel agency. Its services include stays in the mountains, tours in the Czech Republic, sightseeing tours, hotel facilities in Prague and outside of Prague, walking tours in historical centers, and excursions. The Company operates in Slovakia, Hungary, Romania and Poland. The Company was founded in 1992 and is based in Praha, Czech Republic and has additional offices in Warsaw, Bratislava, Budapest, and Bucharest. As of the end of 2012, EXIM TOURS a.s. operated as a subsidiary of REWE Touristik GmbH.

Finance

EXIM Tours has been growing its sales by a year on average in the last 5 years. EBITDA has grown on average by 100% a year during that time to total of in 2015, or of sales. That’s compared to 4.74% average margin seen in last five years.

The company netted in 2015 implying ROE of and ROCE of . Again, the average figures were 20.8% and -202%, respectively when looking at the previous 5 years.

EXIM Tours’s net debt amounted to at the end of 2015, or of equity. When compared to EBITDA, net debt was x, up when compared to average of -4.63x seen in the last 5 years.