Globus Czech Republic

Globus CR's Cash & Cash Equivalents rose 6.43% yoy to CZK 793 mil in 2016

By Helgi Analytics - April 2, 2020

Globus Czech Republic's total assets reached CZK 4,524 mil at the end of 2016, up 5.34% compared to the previous year. ...

Profit Statement 2014 2015 2016
Sales CZK mil 22,930 22,814 22,836
Gross Profit CZK mil 2,777 2,803 2,824
EBITDA CZK mil 799 771 793
EBIT CZK mil 537 490 484
Financing Cost CZK mil 110 46.6 32.8
Pre-Tax Profit CZK mil 426 443 451
Net Profit CZK mil 349 365 374
Dividends CZK mil 349 365 ...
Balance Sheet 2014 2015 2016
Total Assets CZK mil 4,313 4,295 4,524
Non-Current Assets CZK mil 1,208 1,291 1,431
Current Assets CZK mil 3,066 2,956 3,049
Working Capital CZK mil -85.8 171 163
Shareholders' Equity CZK mil 1,506 1,522 1,531
Liabilities CZK mil 2,807 2,772 2,993
Total Debt CZK mil 36.0 77.5 250
Net Debt CZK mil -809 -668 -544
Ratios 2014 2015 2016
ROE % 26.2 24.1 24.5
ROCE % 40.4 28.2 24.4
Gross Margin % 12.1 12.3 12.4
EBITDA Margin % 3.48 3.38 3.47
EBIT Margin % 2.34 2.15 2.12
Net Margin % 1.52 1.60 1.64
Net Debt/EBITDA -1.01 -0.866 -0.685
Net Debt/Equity % -53.7 -43.9 -35.5
Cost of Financing % 512 82.1 20.1
Cash Flow 2014 2015 2016
Total Cash From Operations CZK mil 959 582 772
Total Cash From Investing CZK mil -352 -333 -360
Total Cash From Financing CZK mil -0.043 -348 -365
Net Change In Cash CZK mil 607 -99.9 47.5
Cash Conversion Cycle days -1.92 2.37 2.01
Cash Earnings CZK mil 611 646 683
Free Cash Flow CZK mil 607 249 412

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summary Unit 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
income statement                                  
Sales CZK mil                     24,811 24,227 22,996 22,898 22,930    
Gross Profit CZK mil                     2,461 2,542 2,465 2,537 2,777    
EBIT CZK mil                     143 302 314 389 537    
Net Profit CZK mil                     168 138 154 208 349    
ROE %                     14.5 11.4 11.4 16.0 26.2    
EBIT Margin %                     0.575 1.25 1.37 1.70 2.34    
Net Margin %                     0.675 0.571 0.671 0.906 1.52    
Employees ... ... ... ... ... ... ... ... ...   6,292 6,250 6,079 5,898 5,862    
balance sheet                                  
Total Assets CZK mil                     4,288 4,514 4,622 3,815 4,313    
Non-Current Assets CZK mil                     1,027 1,134 1,152 1,105 1,208    
Current Assets CZK mil                     3,220 3,327 3,403 2,671 3,066    
Shareholders' Equity CZK mil                     1,139 1,277 1,431 1,158 1,506    
Liabilities CZK mil                     3,149 3,237 3,191 2,658 2,807    
Non-Current Liabilities CZK mil         ... ...         32.6 52.8 54.7 58.7 60.4    
Current Liabilities CZK mil                     2,999 3,019 2,985 2,599 2,595    
Net Debt/EBITDA                     -0.935 -0.616 -1.10 -0.355 -1.01    
Net Debt/Equity %                     -36.3 -28.3 -44.5 -20.0 -53.7    
Cost of Financing % ...                   -565 1,966 1,869 1,938 512    
cash flow                                  
Total Cash From Operations CZK mil ...                   551 360 534 299 959    
Total Cash From Investing CZK mil ...                   -192 -409 -258 -222 -352    
Total Cash From Financing CZK mil ...                   -220 -2.06 -0.296 -483 -0.043    
Net Change In Cash CZK mil ...                   139 -51.4 275 -405 607    
income statement Unit 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
income statement                                  
Sales CZK mil                     24,811 24,227 22,996 22,898 22,930    
Cost of Goods & Services CZK mil                     22,350 21,685 20,531 20,361 20,154    
Gross Profit CZK mil                     2,461 2,542 2,465 2,537 2,777    
Staff Cost CZK mil                     2,078 2,126 2,074 2,062 2,078    
Other Cost CZK mil                     -59.0 -171 -186 -177 -99.8    
EBITDA CZK mil                     442 587 578 652 799    
Depreciation CZK mil                     299 285 263 262 262    
EBIT CZK mil                     143 302 314 389 537    
Financing Cost CZK mil                     -205 130 123 132 110    
Extraordinary Cost CZK mil                     112 0 0 0 0    
Pre-Tax Profit CZK mil                     236 173 191 257 426    
Tax CZK mil                     68.2 34.3 37.2 49.4 77.6    
Minorities CZK mil                     0 0 0 0 0    
Net Profit CZK mil                     168 138 154 208 349    
Dividends CZK mil ... ... ...               0.024 0.017 481 0.026 349   ...
growth rates                                  
Total Revenue Growth % ...                   2.08 -2.35 -5.08 -0.426 0.142    
Operating Cost Growth % ...                   4.44 -3.16 -3.45 -0.110 4.89    
EBITDA Growth % ...                   4,248 32.8 -1.57 12.8 22.6    
EBIT Growth % ...                   -147 112 4.00 23.8 37.9    
Pre-Tax Profit Growth % ...                   -13.6 -26.8 10.9 34.2 65.9    
Net Profit Growth % ...                   -23.6 -17.5 11.5 34.6 68.0    
ratios                                  
ROE %                     14.5 11.4 11.4 16.0 26.2    
ROCE % ...                   19.7 13.2 15.0 26.8 40.4    
Gross Margin %                     9.92 10.5 10.7 11.1 12.1    
EBITDA Margin %                     1.78 2.42 2.51 2.85 3.48    
EBIT Margin %                     0.575 1.25 1.37 1.70 2.34    
Net Margin %                     0.675 0.571 0.671 0.906 1.52    
Payout Ratio % ... ... ...               0.014 0.012 312 0.013 100   ...
Cost of Financing % ...                   -565 1,966 1,869 1,938 512    
Net Debt/EBITDA                     -0.935 -0.616 -1.10 -0.355 -1.01    
balance sheet Unit 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
balance sheet                                  
Non-Current Assets CZK mil                     1,027 1,134 1,152 1,105 1,208    
Property, Plant & Equipment CZK mil                     996 1,109 1,118 1,070 1,156    
Intangible Assets CZK mil                     29.9 24.3 31.6 34.8 51.7    
Current Assets CZK mil                     3,220 3,327 3,403 2,671 3,066    
Inventories CZK mil                     1,934 2,135 2,024 1,852 1,773    
Receivables CZK mil                     416 160 125 118 167    
Cash & Cash Equivalents CZK mil                     420 368 644 239 845    
Total Assets CZK mil                     4,288 4,514 4,622 3,815 4,313    
Shareholders' Equity CZK mil                     1,139 1,277 1,431 1,158 1,506    
Of Which Minority Interest CZK mil                     0 0 0 0 0    
Liabilities CZK mil                     3,149 3,237 3,191 2,658 2,807    
Non-Current Liabilities CZK mil         ... ...         32.6 52.8 54.7 58.7 60.4    
Long-Term Debt CZK mil                     4.73 2.70 2.35 0.976 0.959    
Deferred Tax Liabilities CZK mil ... ... ... ... ... ... ... ... ...   27.9 50.1 52.4 57.7 59.5    
Current Liabilities CZK mil                     2,999 3,019 2,985 2,599 2,595    
Short-Term Debt CZK mil                     1.77 4.00 4.11 6.20 35.0    
Trade Payables CZK mil                     2,395 2,318 2,355 2,471 2,026    
Provisions CZK mil                     100 84.5 97.0 123 147    
Equity And Liabilities CZK mil                     4,288 4,514 4,622 3,815 4,313    
growth rates                                  
Total Asset Growth % ...                   -0.350 5.29 2.38 -17.5 13.1    
Shareholders' Equity Growth % ...                   -2.60 12.1 12.1 -19.1 30.1    
Net Debt Growth % ...                   92.1 -12.5 76.2 -63.7 250    
Total Debt Growth % ...                   -90.2 3.06 -3.55 11.1 401    
ratios                                  
Total Debt CZK mil                     6.50 6.70 6.46 7.18 36.0    
Net Debt CZK mil                     -413 -362 -637 -231 -809    
Working Capital CZK mil                     -45.7 -22.4 -205 -501 -85.8    
Capital Employed CZK mil                     981 1,112 946 604 1,122    
Net Debt/Equity %                     -36.3 -28.3 -44.5 -20.0 -53.7    
Cost of Financing % ...                   -565 1,966 1,869 1,938 512    
cash flow Unit 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
cash flow                                  
Net Profit CZK mil                     168 138 154 208 349    
Depreciation CZK mil                     299 285 263 262 262    
Non-Cash Items CZK mil ...                   416 -40.0 -66.4 -467 764    
Change in Working Capital CZK mil ...                   -331 -23.3 183 296 -416    
Total Cash From Operations CZK mil ...                   551 360 534 299 959    
Capital Expenditures CZK mil ...                   -198 -411 -264 -225 -354    
Other Investments CZK mil ...                   5.94 2.45 5.24 2.92 1.90    
Total Cash From Investing CZK mil ...                   -192 -409 -258 -222 -352    
Dividends Paid CZK mil ... ... ...               -219 -0.024 -0.017 -481 -0.026    
Issuance Of Debt CZK mil ...                   -59.5 0.199 -0.238 0.720 28.8    
Total Cash From Financing CZK mil ...                   -220 -2.06 -0.296 -483 -0.043    
Net Change In Cash CZK mil ...                   139 -51.4 275 -405 607    
ratios                                  
Days Sales Outstanding days                     6.11 2.41 1.99 1.87 2.66    
Days Sales Of Inventory days                     31.6 35.9 36.0 33.2 32.1    
Days Payable Outstanding days                     39.1 39.0 41.9 44.3 36.7    
Cash Conversion Cycle days                     -1.42 -0.660 -3.89 -9.22 -1.92    
Cash Earnings CZK mil                     467 423 417 470 611    
Free Cash Flow CZK mil ...                   359 -49.4 276 77.5 607    
other data Unit 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
other data                                  
ROA %                     3.90 3.14 3.38 4.92 8.58    
Gross Margin %                     9.92 10.5 10.7 11.1 12.1    
Employees ... ... ... ... ... ... ... ... ...   6,292 6,250 6,079 5,898 5,862    
Cost Per Employee USD per month ... ... ... ... ... ... ... ... ...   1,440 1,603 1,454 1,489 1,382    
Cost Per Employee (Local Currency) CZK per month ... ... ... ... ... ... ... ... ...   27,525 28,349 28,433 29,139 29,536    
Staff Cost (As % Of Total Cost) %                     8.42 8.89 9.14 9.16 9.28    
Effective Tax Rate %                     28.9 19.9 19.4 19.2 18.2    
Capital Expenditures (As % of Sales) % ...                   0.798 1.70 1.15 0.981 1.54    

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Globus Česká republika is a Czech Republic-based subsidiary of Germany's Globus Hypermarket Holding. Globus is also a brand of the retail chain of hypermarkets, Do-It-Yourselve (DIY) stores and electronics stores the Company operates. The Company was founded in 1970, but the origins date back to the early 19th Century. Nowadays, the Company operates 46 hypermarkets and 77 Do-It-Yourselve stores in Germany and is represented with 16 supermarkets in the Czech Republic, 7 locations in Russia and 2 Hardware Stores in Luxembourg. Globus stores offer a broad and comprehensive product range, which, on average, includes 50-100,000 articles per store. Overall, the Company employes around 35,000 people

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Finance

Globus Czech Republic has been growing its sales by a year on average in the last 5 years. EBITDA has grown on average by 6.22% a year during that time to total of CZK 793 mil in 2016, or 3.47% of sales. That’s compared to 3.14% average margin seen in last five years.

The company netted CZK 374 mil in 2016 implying ROE of 24.5% and ROCE of 24.4%. Again, the average figures were 20.4% and 27.0%, respectively when looking at the previous 5 years.

Globus Czech Republic’s net debt amounted to CZK -544 mil at the end of 2016, or -35.5% of equity. When compared to EBITDA, net debt was -0.685x, up when compared to average of -0.805x seen in the last 5 years.