HUDYsport

HUDYsport's Cash & Cash Equivalents rose 44.0% yoy to CZK 44.1 mil in 2016

By Helgi Analytics - April 2, 2020

HUDYsport's total assets reached CZK 184 mil at the end of 2016, up 7.45% compared to the previous year. Current a...

Profit Statement 2014 2015 2016
Sales CZK mil 306 377 395
Gross Profit CZK mil 30.1 46.3 56.0
EBITDA CZK mil 12.3 24.7 30.2
EBIT CZK mil 10.4 22.3 27.1
Financing Cost CZK mil -0.246 1.01 0.121
Pre-Tax Profit CZK mil 10.7 21.2 27.0
Net Profit CZK mil 8.50 16.9 21.6
Dividends CZK mil ... 2.50 ...
Balance Sheet 2014 2015 2016
Total Assets CZK mil 157 172 184
Non-Current Assets CZK mil 15.0 21.2 21.9
Current Assets CZK mil 142 150 162
Working Capital CZK mil 99.8 95.6 101
Shareholders' Equity CZK mil 123 140 159
Liabilities CZK mil 34.3 32.0 25.8
Total Debt CZK mil 1.44 0 0
Net Debt CZK mil -13.1 -30.6 -44.1
Ratios 2014 2015 2016
ROE % 7.17 12.8 14.5
ROCE % 7.60 14.6 18.0
Gross Margin % 9.85 12.3 14.2
EBITDA Margin % 4.01 6.55 7.65
EBIT Margin % 3.41 5.91 6.86
Net Margin % 2.78 4.47 5.46
Net Debt/EBITDA -1.07 -1.24 -1.46
Net Debt/Equity % -10.6 -21.9 -27.8
Cost of Financing % -34.1 141 ...
Cash Flow 2014 2015 2016
Total Cash From Operations CZK mil ... ... 17.1
Total Cash From Investing CZK mil ... ... -1.16
Total Cash From Financing CZK mil ... ... -2.50
Net Change In Cash CZK mil ... ... 13.5
Cash Conversion Cycle days 123 95.4 98.0
Cash Earnings CZK mil 10.3 19.3 24.7
Free Cash Flow CZK mil ... ... 16.0

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summary Unit 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
income statement                        
Sales CZK mil           256 251 247 258 306    
Gross Profit CZK mil           14.8 14.7 15.2 21.6 30.1    
EBIT CZK mil           2.44 1.77 0.834 3.98 10.4    
Net Profit CZK mil           1.83 1.56 0.795 3.07 8.50    
ROE %           1.70 1.42 0.717 2.73 7.17    
EBIT Margin %           0.951 0.703 0.338 1.54 3.41    
Net Margin %           0.716 0.622 0.322 1.19 2.78    
Employees           42.0 39.0 48.0 45.0 58.0    
balance sheet                        
Total Assets CZK mil           142 146 144 143 157    
Non-Current Assets CZK mil           17.5 15.1 14.8 14.7 15.0    
Current Assets CZK mil           125 131 129 128 142    
Shareholders' Equity CZK mil           109 110 111 114 123    
Liabilities CZK mil           33.4 35.6 33.1 28.3 34.3    
Non-Current Liabilities CZK mil           0 0 0 0 0    
Current Liabilities CZK mil           28.5 27.7 32.2 26.7 32.1    
Net Debt/EBITDA           -3.58 0.448 -5.37 -2.16 -1.07    
Net Debt/Equity %           -18.1 1.80 -13.0 -10.5 -10.6    
Cost of Financing % ...         1.09 -5.79 -14.1 -1,930 -34.1   ...
cash flow                        
Total Cash From Operations CZK mil ... ... ... ... ... ... ... ... ... ... ...  
Total Cash From Investing CZK mil ... ... ... ... ... ... ... ... ... ... ...  
Total Cash From Financing CZK mil ... ... ... ... ... ... ... ... ... ... ...  
Net Change In Cash CZK mil ... ... ... ... ... ... ... ... ... ... ...  
income statement Unit 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
income statement                        
Sales CZK mil           256 251 247 258 306    
Cost of Goods & Services CZK mil           241 237 231 236 276    
Gross Profit CZK mil           14.8 14.7 15.2 21.6 30.1    
Staff Cost CZK mil           9.47 9.92 12.3 11.8 17.8    
Other Cost CZK mil           -0.165 0.341 0.228 4.22 0.104    
EBITDA CZK mil           5.50 4.43 2.70 5.55 12.3    
Depreciation CZK mil           3.07 2.66 1.86 1.57 1.84    
EBIT CZK mil           2.44 1.77 0.834 3.98 10.4    
Financing Cost CZK mil           0.064 -0.331 -0.466 -0.878 -0.246    
Extraordinary Cost CZK mil           0 0 0 0 0    
Pre-Tax Profit CZK mil           2.37 2.10 1.30 4.86 10.7    
Tax CZK mil           0.540 0.536 0.505 1.79 2.18    
Minorities CZK mil           0 0 0 0 0    
Net Profit CZK mil           1.83 1.56 0.795 3.07 8.50    
Dividends CZK mil ... ... ... ... ... ... ... ... ... ...   ...
growth rates                        
Total Revenue Growth % ...         2.97 -1.94 -1.86 4.61 18.6    
Operating Cost Growth % ...         39.6 10.2 21.9 28.0 11.6    
EBITDA Growth % ...         -31.5 -19.5 -39.1 106 121    
EBIT Growth % ...         -58.9 -27.5 -52.8 377 162    
Pre-Tax Profit Growth % ...         -44.3 -11.6 -38.0 274 120    
Net Profit Growth % ...         -44.7 -14.8 -49.1 287 177    
ratios                        
ROE %           1.70 1.42 0.717 2.73 7.17    
ROCE % ...         1.96 1.50 0.736 2.94 7.60    
Gross Margin %           5.78 5.85 6.16 8.36 9.85    
EBITDA Margin %           2.15 1.76 1.09 2.15 4.01    
EBIT Margin %           0.951 0.703 0.338 1.54 3.41    
Net Margin %           0.716 0.622 0.322 1.19 2.78    
Payout Ratio % ... ... ... ... ... ... ... ... ... ...   ...
Cost of Financing % ...         1.09 -5.79 -14.1 -1,930 -34.1   ...
Net Debt/EBITDA           -3.58 0.448 -5.37 -2.16 -1.07    
balance sheet Unit 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
balance sheet                        
Non-Current Assets CZK mil           17.5 15.1 14.8 14.7 15.0    
Property, Plant & Equipment CZK mil           16.7 14.7 14.2 13.9 14.3    
Intangible Assets CZK mil           0.480 0.151 0 0 0    
Goodwill CZK mil           0 0 0 0 0    
Current Assets CZK mil           125 131 129 128 142    
Inventories CZK mil           41.3 50.3 40.2 46.1 57.5    
Receivables CZK mil           57.0 73.7 74.1 69.5 69.4    
Cash & Cash Equivalents CZK mil           24.6 4.54 14.6 12.0 14.5    
Total Assets CZK mil           142 146 144 143 157    
Shareholders' Equity CZK mil           109 110 111 114 123    
Of Which Minority Interest CZK mil           0 0 0 0 0    
Liabilities CZK mil           33.4 35.6 33.1 28.3 34.3    
Non-Current Liabilities CZK mil           0 0 0 0 0    
Long-Term Debt CZK mil           0.614 0.221 0.091 0 0    
Deferred Tax Liabilities CZK mil           0 0 0 0 0    
Current Liabilities CZK mil           28.5 27.7 32.2 26.7 32.1    
Short-Term Debt CZK mil           4.30 6.30 0 0 1.44    
Trade Payables CZK mil           23.3 23.4 28.8 21.4 27.0    
Provisions CZK mil           0 0 0 0 0    
Equity And Liabilities CZK mil           142 146 144 143 157    
growth rates                        
Total Asset Growth % ...         6.51 2.62 -1.12 -1.19 10.2    
Shareholders' Equity Growth % ...         1.71 1.44 0.717 2.79 7.44    
Net Debt Growth % ...         30.1 -110 -829 -17.0 8.89    
Total Debt Growth % ... ...       -28.1 32.7 -98.6 -100 ...   ...
ratios                        
Total Debt CZK mil           4.92 6.52 0.091 0 1.44    
Net Debt CZK mil           -19.7 1.98 -14.5 -12.0 -13.1    
Working Capital CZK mil           74.9 101 85.6 94.2 99.8    
Capital Employed CZK mil           92.4 116 100 109 115    
Net Debt/Equity %           -18.1 1.80 -13.0 -10.5 -10.6    
Cost of Financing % ...         1.09 -5.79 -14.1 -1,930 -34.1   ...
cash flow Unit 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
cash flow                        
Net Profit CZK mil           1.83 1.56 0.795 3.07 8.50    
Depreciation CZK mil           3.07 2.66 1.86 1.57 1.84    
Non-Cash Items CZK mil ... ... ... ... ... ... ... ... ... ... ...  
Change in Working Capital CZK mil ... ... ... ... ... ... ... ... ... ... ...  
Total Cash From Operations CZK mil ... ... ... ... ... ... ... ... ... ... ...  
Capital Expenditures CZK mil ... ... ... ... ... ... ... ... ... ... ...  
Other Investments CZK mil ... ... ... ... ... ... ... ... ... ... ...  
Total Cash From Investing CZK mil ... ... ... ... ... ... ... ... ... ... ...  
Dividends Paid CZK mil ... ... ... ... ... ... ... ... ... ... ...  
Issuance Of Shares CZK mil ... ... ... ... ... ... ... ... ... ... ...  
Issuance Of Debt CZK mil ... ... ... ... ... ... ... ... ... ... ...  
Total Cash From Financing CZK mil ... ... ... ... ... ... ... ... ... ... ...  
Net Change In Cash CZK mil ... ... ... ... ... ... ... ... ... ... ...  
ratios                        
Days Sales Outstanding days           81.2 107 110 98.4 82.7    
Days Sales Of Inventory days           62.4 77.7 63.5 71.1 76.0    
Days Payable Outstanding days           35.3 36.1 45.4 33.0 35.7    
Cash Conversion Cycle days           108 149 128 136 123    
Cash Earnings CZK mil           4.90 4.23 2.66 4.65 10.3    
Free Cash Flow CZK mil ... ... ... ... ... ... ... ... ... ... ...  
other data Unit 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
other data                        
ROA %           1.33 1.08 0.548 2.14 5.67    
Gross Margin %           5.78 5.85 6.16 8.36 9.85    
Employees           42.0 39.0 48.0 45.0 58.0    
Cost Per Employee USD per month           983 1,198 1,090 1,116 1,194    
Cost Per Employee (Local Currency) CZK per month           18,794 21,194 21,314 21,841 25,529    
Staff Cost (As % Of Total Cost) %           3.73 3.97 4.99 4.64 6.01    
Effective Tax Rate %           22.7 25.5 38.8 36.8 20.4    
Domestic Sales CZK mil ... ... ... ... ... ... ... 216 237 227 ... ...
Capital Expenditures (As % of Sales) % ... ... ... ... ... ... ... ... ... ... ...  
Revenues From Abroad CZK mil ... ... ... ... ... ... ... 30.2 21.0 63.8 ... ...
Revenues From Abroad (As % Of Total) % ... ... ... ... ... ... ... 12.3 8.14 20.9 ... ...
Number of Branches ... ... ... ... ... ... ... 40.0 39.0 ... ... ...

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HUDYsport a. s. is a Czech Republic-based producer and distributor of climbing and outdoor equipment. With a network of 33 shops in the Czech Republic and further 8 branches in Slovakia, the Company is the largest chain of the special sportware in the Czech Republic. The Company specialises on development, production and distribution of the mountaineering equipment alongside trekking, skiing and snowboarding clothing. The Company's product portfolio includes waterproofs, thermal tops, ski jacket and Gore-tex jackets as well as trekking boots, ropes, rucksacks and sleeping bags, for example. HUDYsport was founded in 1990 by Jindřich Hudeček (nicknamed "Hudy") and employes around 350 persons.

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Finance

HUDYsport has been growing its sales by a year on average in the last 5 years. EBITDA has grown on average by 46.8% a year during that time to total of CZK 30.2 mil in 2016, or 7.65% of sales. That’s compared to 4.29% average margin seen in last five years.

The company netted CZK 21.6 mil in 2016 implying ROE of 14.5% and ROCE of 18.0%. Again, the average figures were 7.58% and 8.77%, respectively when looking at the previous 5 years.

HUDYsport’s net debt amounted to CZK -44.1 mil at the end of 2016, or -27.8% of equity. When compared to EBITDA, net debt was -1.46x, up when compared to average of -2.26x seen in the last 5 years.