Hervis Sports Czech Republic

Hervis CR's Cash & Cash Equivalents rose 36.6% yoy to CZK 15.0 mil in 2014

By Helgi Analytics - April 2, 2020

Hervis Sports Czech Republic's total assets reached CZK 417 mil at the end of 2014, down 7.44% compared to the previous year. ...

Profit Statement 2012 2013 2014
Sales CZK mil 1,134 964 939
Gross Profit CZK mil 146 92.4 56.9
EBITDA CZK mil 46.8 -0.570 -47.8
EBIT CZK mil 8.02 -38.4 -88.2
Financing Cost CZK mil 10.2 18.7 11.8
Pre-Tax Profit CZK mil -2.18 -57.2 -103
Net Profit CZK mil -2.00 -82.2 -103
Balance Sheet 2012 2013 2014
Total Assets CZK mil 474 450 417
Non-Current Assets CZK mil 158 135 119
Current Assets CZK mil 305 306 290
Working Capital CZK mil 130 149 178
Shareholders' Equity CZK mil 204 122 19.1
Liabilities CZK mil 269 328 398
Total Debt CZK mil 97.0 144 238
Net Debt CZK mil 79.7 133 223
Ratios 2012 2013 2014
ROE % -0.975 -50.3 -146
ROCE % -0.649 -28.7 -35.5
Gross Margin % 12.9 9.58 6.06
EBITDA Margin % 4.13 -0.059 -5.08
EBIT Margin % 0.708 -3.99 -9.38
Net Margin % -0.177 -8.52 -11.0
Net Debt/EBITDA 1.70 -234 -4.67
Net Debt/Equity % 39.0 109 1,170
Cost of Financing % 8.60 15.5 6.19
Cash Flow 2012 2013 2014
Total Cash From Operations CZK mil 59.1 -38.5 -66.3
Total Cash From Investing CZK mil -20.6 -15.1 -23.6
Total Cash From Financing CZK mil -43.3 47.4 93.9
Net Change In Cash CZK mil -4.89 -6.24 4.02
Cash Conversion Cycle days 46.9 60.3 71.7
Cash Earnings CZK mil 36.7 -44.3 -62.7
Free Cash Flow CZK mil 38.4 -53.6 -89.9

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summary Unit 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
income statement                      
Sales CZK mil         1,116 1,317 1,329 1,176 1,134    
Gross Profit CZK mil         167 191 193 166 146    
EBIT CZK mil         -13.0 10.1 37.4 24.7 8.02    
Net Profit CZK mil         -29.0 2.01 26.6 6.88 -2.00    
ROE %         -22.3 1.17 14.3 3.39 -0.975    
EBIT Margin %         -1.17 0.768 2.81 2.10 0.708    
Net Margin %         -2.60 0.152 2.00 0.585 -0.177    
Employees         309 387 369 321 310    
balance sheet                      
Total Assets CZK mil         678 618 569 502 474    
Non-Current Assets CZK mil         270 259 225 176 158    
Current Assets CZK mil         405 357 343 314 305    
Shareholders' Equity CZK mil         171 173 199 206 204    
Liabilities CZK mil         508 445 369 296 269    
Non-Current Liabilities CZK mil         97.7 103 14.4 8.34 7.66    
Current Liabilities CZK mil         410 342 355 288 262    
Net Debt/EBITDA         8.99 2.61 0.364 1.78 1.70    
Net Debt/Equity %         141 88.2 15.0 57.3 39.0    
Cost of Financing % ...       7.49 2.49 3.12 14.2 8.60    
cash flow                      
Total Cash From Operations CZK mil         60.4 125 128 97.5 59.1    
Total Cash From Investing CZK mil         -81.7 -37.5 -9.97 9.21 -20.6    
Total Cash From Financing CZK mil         30.9 -82.7 89.6 54.7 -43.3    
Net Change In Cash CZK mil         9.63 5.26 207 161 -4.89    
income statement Unit 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
income statement                      
Sales CZK mil         1,116 1,317 1,329 1,176 1,134    
Cost of Goods & Services CZK mil         949 1,126 1,136 1,011 988    
Gross Profit CZK mil         167 191 193 166 146    
Staff Cost CZK mil         95.3 117 120 112 106    
Other Cost CZK mil         45.3 16.1 -9.04 -12.6 -6.44    
EBITDA CZK mil         26.7 58.3 82.1 66.2 46.8    
Depreciation CZK mil         39.8 48.2 44.8 41.5 38.7    
EBIT CZK mil         -13.0 10.1 37.4 24.7 8.02    
Financing Cost CZK mil         22.6 5.52 4.14 16.1 10.2    
Extraordinary Cost CZK mil         0 0 0 0.030 0    
Pre-Tax Profit CZK mil         -35.7 4.60 33.2 8.61 -2.18    
Tax CZK mil         -6.67 2.59 6.60 1.73 -0.174    
Minorities CZK mil         0 0 0 0 0    
Net Profit CZK mil         -29.0 2.01 26.6 6.88 -2.00    
growth rates                      
Total Revenue Growth % ...       15.1 18.0 0.893 -11.5 -3.64    
Operating Cost Growth % ...       66.2 -5.44 -16.6 -10.3 -0.306    
EBITDA Growth % ...       -38.2 118 40.9 -19.4 -29.4    
EBIT Growth % ...       -206 -178 269 -33.9 -67.5    
Pre-Tax Profit Growth % ...       -1,680 -113 623 -74.1 -125    
Net Profit Growth % ...       -6,512 -107 1,227 -74.2 -129    
ratios                      
ROE %         -22.3 1.17 14.3 3.39 -0.975    
ROCE % ...       -8.11 0.524 8.16 2.17 -0.649    
Gross Margin %         15.0 14.5 14.5 14.1 12.9    
EBITDA Margin %         2.40 4.43 6.18 5.63 4.13    
EBIT Margin %         -1.17 0.768 2.81 2.10 0.708    
Net Margin %         -2.60 0.152 2.00 0.585 -0.177    
Cost of Financing % ...       7.49 2.49 3.12 14.2 8.60    
Net Debt/EBITDA         8.99 2.61 0.364 1.78 1.70    
balance sheet Unit 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
balance sheet                      
Non-Current Assets CZK mil         270 259 225 176 158    
Property, Plant & Equipment CZK mil         270 259 225 176 158    
Intangible Assets CZK mil         0.250 0.140 0.056 0.012 0.067    
Current Assets CZK mil         405 357 343 314 305    
Inventories CZK mil         312 263 217 217 198    
Receivables CZK mil         17.3 8.83 24.4 14.0 26.8    
Cash & Cash Equivalents CZK mil         22.3 27.6 55.8 22.1 17.2    
Total Assets CZK mil         678 618 569 502 474    
Shareholders' Equity CZK mil         171 173 199 206 204    
Liabilities CZK mil         508 445 369 296 269    
Non-Current Liabilities CZK mil         97.7 103 14.4 8.34 7.66    
Long-Term Debt CZK mil         92.0 90.4 0 0 0    
Current Liabilities CZK mil         410 342 355 288 262    
Short-Term Debt CZK mil         171 89.6 85.6 140 97.0    
Trade Payables CZK mil         182 183 162 79.1 94.5    
Provisions CZK mil         5.57 12.4 14.3 8.34 7.66    
Equity And Liabilities CZK mil         678 618 569 502 474    
growth rates                      
Total Asset Growth % ...       3.05 -8.93 -7.95 -11.7 -5.75    
Shareholders' Equity Growth % ...       90.5 1.18 15.4 3.45 -0.970    
Net Debt Growth % ...       -27.0 -36.6 -80.4 295 -32.5    
Total Debt Growth % ... ...     -23.2 -31.5 -52.4 63.8 -30.9    
ratios                      
Total Debt CZK mil         263 180 85.6 140 97.0    
Net Debt CZK mil         240 152 29.9 118 79.7    
Working Capital CZK mil         148 88.8 79.8 152 130    
Capital Employed CZK mil         418 348 304 329 289    
Net Debt/Equity %         141 88.2 15.0 57.3 39.0    
Cost of Financing % ...       7.49 2.49 3.12 14.2 8.60    
cash flow Unit 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
cash flow                      
Net Profit CZK mil         -29.0 2.01 26.6 6.88 -2.00    
Depreciation CZK mil         39.8 48.2 44.8 41.5 38.7    
Non-Cash Items CZK mil ...       128 16.5 47.3 121 0.493    
Change in Working Capital CZK mil ...       -78.6 58.7 9.00 -72.4 21.8    
Total Cash From Operations CZK mil         60.4 125 128 97.5 59.1    
Capital Expenditures CZK mil         -81.9 -38.7 -10.3 -1.76 -20.6    
Other Investments CZK mil         0.156 1.22 0.288 11.0 0.016    
Total Cash From Investing CZK mil         -81.7 -37.5 -9.97 9.21 -20.6    
Issuance Of Debt CZK mil ...       -79.2 -82.7 -94.4 54.7 -43.3    
Total Cash From Financing CZK mil         30.9 -82.7 89.6 54.7 -43.3    
Net Change In Cash CZK mil         9.63 5.26 207 161 -4.89    
ratios                      
Days Sales Outstanding days         5.66 2.45 6.71 4.33 8.62    
Days Sales Of Inventory days         120 85.1 69.8 78.5 73.2    
Days Payable Outstanding days         70.1 59.2 52.0 28.6 34.9    
Cash Conversion Cycle days         55.8 28.4 24.5 54.3 46.9    
Cash Earnings CZK mil         10.8 50.2 71.4 48.4 36.7    
Free Cash Flow CZK mil         -21.3 88.0 118 107 38.4    
other data Unit 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
other data                      
ROA %         -4.34 0.310 4.49 1.29 -0.410    
Gross Margin %         15.0 14.5 14.5 14.1 12.9    
Employees         309 387 369 321 310    
Cost Per Employee USD per month         1,509 1,321 1,418 1,646 1,452    
Cost Per Employee (Local Currency) CZK per month         25,711 25,172 27,100 29,109 28,397    
Staff Cost (As % Of Total Cost) %         8.44 8.94 9.29 9.74 9.39    
Effective Tax Rate %         18.7 56.4 19.8 20.1 8.00    
Capital Expenditures (As % of Sales) %         7.33 2.94 0.772 0.149 1.82    
Revenues From Abroad CZK mil         10.4 28.4 11.2 20.4 11.9   ...
Revenues From Abroad (As % Of Total) %         0.933 2.15 0.841 1.73 1.05   ...
Sales of Goods CZK mil         1,086 1,282 1,306 1,148 1,082   ...
Sales Of Services CZK mil         30.0 34.6 22.8 28.4 52.0   ...

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Hervis Sport A Moda, s.r.o. is a Czech Republic-based subsidiary of Austria's Hervis Group. The Company owns and operates retail stores for sporting goods. The Czech subsidiary was incorporated in 1997 and is based in Prague, Czech Republic. Hervis Sport A Moda s.r.o. operates as a subsidiary of SPAR Osterreichische Warenhandels-AG. At the end of 2012, the Group was operating 92 branches in Austria, 16 in Slovenia, 27 in Hungary, 27 in the Czech Republic and 15 and 14 branches in Croatia and Romania.

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Finance

Hervis Sports Czech Republic has been growing its sales by a year on average in the last 5 years. EBITDA has fallen by 182% during that time to total of CZK -47.8 mil in 2014, or -5.08% of sales. That’s compared to 2.16% average margin seen in last five years.

The company netted CZK -103 mil in 2014 implying ROE of -146% and ROCE of -35.5%. Again, the average figures were -35.9% and -10.9%, respectively when looking at the previous 5 years.

Hervis Sports Czech Republic’s net debt amounted to CZK 223 mil at the end of 2014, or 1,170% of equity. When compared to EBITDA, net debt was -4.67x, up when compared to average of -47.0x seen in the last 5 years.