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Internet Mall

Internet Mall's net profit fell 54.7% yoy to CZK -570 mil in 2021

By Helgi Library - May 21, 2023

Internet Mall made a net profit of CZK -570 mil in 2021, down 54.7% compared to the previous year. Total sales reached CZK 10,625 mi...

Internet Mall - Workforce

By Helgi Library - May 21, 2023

Internet Mall employed 937 employees in 2021, down 2.4% compared to the previous year. Historically, between 2003 and 2...

Internet Mall's Net Margin fell 74.1% yoy to -5.37% in 2021

By Helgi Library - May 21, 2023

Internet Mall made a net profit of CZK -570 mil with revenues of CZK 10,625 mil in 2021, down by 54.7% and down by 11.1%, re...

Profit Statement 2019 2020 2021
Sales CZK mil 10,199 11,958 10,625
Gross Profit CZK mil 172 788 379
EBITDA CZK mil -349 24.2 -219
EBIT CZK mil -623 -354 -560
Financing Cost CZK mil 2.84 3.70 13.7
Pre-Tax Profit CZK mil -624 -369 -570
Net Profit CZK mil -624 -369 -570
Balance Sheet 2019 2020 2021
Total Assets CZK mil 3,527 3,394 2,818
Non-Current Assets CZK mil 915 903 711
Current Assets CZK mil 2,561 2,458 2,089
Working Capital CZK mil 1,058 761 1,030
Shareholders' Equity CZK mil 1,235 982 578
Liabilities CZK mil 2,292 2,412 2,240
Total Debt CZK mil 72.1 65.1 398
Net Debt CZK mil -89.8 -7.42 354
Ratios 2019 2020 2021
ROE % -43.3 -33.3 -73.1
ROCE % -31.9 -20.3 -33.5
Gross Margin % 1.68 6.59 3.57
EBITDA Margin % -3.42 0.202 -2.06
EBIT Margin % -6.11 -2.96 -5.27
Net Margin % -6.12 -3.08 -5.37
Net Debt/EBITDA 0.257 -0.307 -1.62
Net Debt/Equity % -7.27 -0.755 61.1
Cost of Financing % 5.12 5.40 5.92
Cash Flow 2019 2020 2021
Total Cash From Operations CZK mil 132 112 -459
Total Cash From Investing CZK mil -269 -314 -59.7
Total Cash From Financing CZK mil 169 113 491
Net Change In Cash CZK mil 32.4 -89.3 -27.7
Cash Conversion Cycle days 37.8 22.6 35.8
Cash Earnings CZK mil -350 9.89 -229
Free Cash Flow CZK mil -137 -202 -519

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overview Unit 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
income statement                                            
Sales CZK mil                               6,258 7,169 7,965 9,572 10,199    
Gross Profit CZK mil                               1,012 1,159 1,472 1,869 172    
EBIT CZK mil                               -309 -160 -219 -414 -623    
Net Profit CZK mil                               -356 -214 -286 -467 -624    
                                               
ROE % ...                             -274 -260 -50.4 -34.5 -43.3    
EBIT Margin %                               -4.95 -2.23 -2.76 -4.33 -6.11    
Net Margin %                               -5.69 -2.98 -3.59 -4.88 -6.12    
Employees ... ... ...                         562 631 784 924 1,010    
balance sheet                                            
Total Assets CZK mil                               2,216 2,829 2,693 3,413 3,527    
Non-Current Assets CZK mil                               596 632 694 910 915    
Current Assets CZK mil                               1,595 2,170 1,965 2,438 2,561    
                                               
Shareholders' Equity CZK mil                               87.6 76.8 1,057 1,651 1,235    
Liabilities CZK mil                               2,129 2,752 1,636 1,762 2,292    
Non-Current Liabilities CZK mil                               429 857 147 0 0    
Current Liabilities CZK mil                               1,635 1,806 1,391 1,658 2,194    
                                               
Net Debt/EBITDA                               -3.28 -35.4 -1.07 0.348 0.257    
Net Debt/Equity %                               863 1,763 9.58 -5.50 -7.27    
Cost of Financing % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 6.83 14.9 5.12    
cash flow                                            
Total Cash From Operations CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... -68.4 -444 -537 132    
Total Cash From Investing CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... -629 -39.4 -387 -269    
Total Cash From Financing CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 741 471 978 169    
Net Change In Cash CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 43.5 -12.0 54.4 32.4    
income statement Unit 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
income statement                                            
Sales CZK mil                               6,258 7,169 7,965 9,572 10,199    
Cost of Goods & Services CZK mil                               5,246 6,010 6,493 7,703 10,027    
Gross Profit CZK mil                               1,012 1,159 1,472 1,869 172    
Staff Cost CZK mil                               318 387 511 710 830    
EBITDA CZK mil                               -231 -38.2 -94.4 -261 -349    
Depreciation CZK mil                               78.8 121 125 153 274    
EBIT CZK mil                               -309 -160 -219 -414 -623    
Net Financing Cost CZK mil                               46.8 54.0 66.3 23.8 1.41    
Financing Cost CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 55.2 16.0 2.84    
Financing Income CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 23.6 1.96 16.9    
Pre-Tax Profit CZK mil                               -356 -214 -286 -438 -624    
Tax CZK mil                               0 0 0 29.2 0    
Minorities CZK mil                               0 0 0 0 0    
Net Profit CZK mil                               -356 -214 -286 -467 -624    
Net Profit Avail. to Common CZK mil                               -356 -214 -286 -467 -624    
growth rates                                            
Total Revenue Growth % ...                             2.65 14.6 11.1 20.2 6.54    
Staff Cost Growth % ... ...                           21.4 21.8 32.0 38.9 17.0    
EBITDA Growth % ...                             494 -83.4 147 177 33.7    
EBIT Growth % ...                             201 -48.4 37.5 88.8 50.3    
Pre-Tax Profit Growth % ...                             171 -40.1 33.8 53.3 42.5    
Net Profit Growth % ...                             171 -40.1 33.8 63.6 33.6    
ratios                                            
ROE % ...                             -274 -260 -50.4 -34.5 -43.3    
ROA % ...                             -17.5 -8.47 -10.3 -15.3 -18.0    
ROCE % ...                             -49.0 -14.5 -17.8 -27.3 -31.9    
Gross Margin %                               16.2 16.2 18.5 19.5 1.68    
EBITDA Margin %                               -3.69 -0.533 -1.18 -2.73 -3.42    
EBIT Margin %                               -4.95 -2.23 -2.76 -4.33 -6.11    
Net Margin %                               -5.69 -2.98 -3.59 -4.88 -6.12    
Cost of Financing % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 6.83 14.9 5.12    
Net Debt/EBITDA                               -3.28 -35.4 -1.07 0.348 0.257    
balance sheet Unit 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
balance sheet                                            
Cash & Cash Equivalents CZK mil                               43.4 86.9 74.9 129 162    
Receivables CZK mil                               907 1,336 995 1,218 1,119    
Inventories CZK mil                               645 748 895 1,091 1,280    
Current Assets CZK mil                               1,595 2,170 1,965 2,438 2,561    
Property, Plant & Equipment CZK mil                               501 534 540 629 548    
LT Investments & Receivables CZK mil                               0 0 0 0 0    
Intangible Assets CZK mil                               95.4 98.2 154 281 368    
Goodwill CZK mil                               0 0 7.62 7.52 5.88    
Non-Current Assets CZK mil                               596 632 694 910 915    
Total Assets CZK mil                               2,216 2,829 2,693 3,413 3,527    
                                               
Trade Payables CZK mil                               936 974 1,109 1,275 1,341    
Short-Term Debt CZK mil                               467 611 29.3 38.7 72.1    
Other ST Liabilities CZK mil                               232 221 253 344 781    
Current Liabilities CZK mil                               1,635 1,806 1,391 1,658 2,194    
Long-Term Debt CZK mil                               332 829 147 0 0    
Other LT Liabilities CZK mil                               97.6 27.6 0 0 0    
Non-Current Liabilities CZK mil                               429 857 147 0 0    
Liabilities CZK mil                               2,129 2,752 1,636 1,762 2,292    
Equity Before Minority Interest CZK mil                               87.6 76.8 1,057 1,651 1,235    
Minority Interest CZK mil                               0 0 0 0 0    
Equity CZK mil                               87.6 76.8 1,057 1,651 1,235    
growth rates                                            
Total Asset Growth % ...                             20.0 27.7 -4.81 26.7 3.34    
Shareholders' Equity Growth % ...                             -49.2 -12.3 1,277 56.2 -25.2    
Net Debt Growth % ...                             209 79.1 -92.5 -190 -1.07    
Total Debt Growth % ... ... ... ... ... ...                   157 80.2 -87.8 -78.1 86.3    
ratios                                            
Total Debt CZK mil                               799 1,440 176 38.7 72.1    
Net Debt CZK mil                               756 1,353 101 -90.8 -89.8    
Working Capital CZK mil                               615 1,109 781 1,034 1,058    
Capital Employed CZK mil                               1,211 1,741 1,475 1,944 1,974    
Net Debt/Equity %                               863 1,763 9.58 -5.50 -7.27    
Current Ratio                               0.975 1.20 1.41 1.47 1.17    
Quick Ratio                               0.581 0.788 0.769 0.813 0.584    
cash flow Unit 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
cash flow                                            
Net Profit CZK mil                               -356 -214 -286 -467 -624    
Depreciation CZK mil                               78.8 121 125 153 274    
Non-Cash Items CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 518 -610 29.7 507    
Change in Working Capital CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... -494 328 -253 -24.2    
Total Cash From Operations CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... -68.4 -444 -537 132    
                                               
Capital Expenditures CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... -253 -40.6 -387 -269    
Other Investing Activities CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... -376 1.24 0.251 0    
Total Cash From Investing CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... -629 -39.4 -387 -269    
                                               
Dividends Paid CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 0 0 0 0    
Issuance Of Shares CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 0 1,266 1,060 203    
Issuance Of Debt CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 741 -795 -82.2 -82.2    
Total Cash From Financing CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 741 471 978 169    
Net Change In Cash CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 43.5 -12.0 54.4 32.4    
ratios                                            
Days Sales Outstanding days                               52.9 68.0 45.6 46.4 40.1    
Days Sales Of Inventory days                               44.8 45.4 50.3 51.7 46.6    
Days Payable Outstanding days                               65.1 59.2 62.3 60.4 48.8    
Cash Conversion Cycle days                               32.6 54.2 33.6 37.7 37.8    
Cash Earnings CZK mil                               -277 -92.2 -161 -314 -350    
Free Cash Flow CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... -697 -483 -924 -137    
Capital Expenditures (As % of Sales) % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 3.53 0.510 4.04 2.64    
other ratios Unit 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
                                             
Employees ... ... ...                         562 631 784 924 1,010    
Cost Per Employee USD per month ... ... ...                         1,973 2,025 2,313 2,923 3,129    
Cost Per Employee (Local Currency) CZK per month ... ... ...                         47,103 51,102 54,306 63,993 68,520    
Material & Energy (As % of Sales) % ... ... ... ... ... ... ... ... ... ... ... ...       84.8 84.7 82.3 81.5 85.0    
Services (As % of Sales) % ... ... ... ... ... ... ... ... ... ... ... ...       11.8 10.4 12.5 13.9 13.3    
Staff Cost (As % of Sales) %                               5.08 5.40 6.41 7.41 8.14    
Effective Tax Rate %                               0 0 0 -6.67 0    
Revenues From Abroad CZK mil ... ... ... ... ... ... ... ... ... ... ... ...       1,860 2,202 2,521 3,129 ... ... ...
Domestic Revenues CZK mil ... ... ... ... ... ... ... ... ... ... ... ...       4,398 4,966 5,444 6,443 ... ... ...
Revenues From Abroad (As % Of Total) % ... ... ... ... ... ... ... ... ... ... ... ...       29.7 30.7 31.7 32.7 ... ... ...
Total Revenue Growth (5-year average) % ... ... ... ... ...                     21.2 18.6 18.4 14.0 10.8    
Total Revenue Growth (10-year average) % ... ... ... ... ... ... ... ... ... ...           19.0 18.8 20.6 26.6 20.8    
sales geography Unit 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
                                             
Sales in Czechia CZK mil ... ... ... ... ... ... ... ... ... ... ... ...       4,398 4,966 5,444 6,443 ... ... ...
Sales in Czechia (As % of Total) % ... ... ... ... ... ... ... ... ... ... ... ...       70.3 69.3 68.3 67.3 ... ... ...

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Internet Mall's ROCE fell 65.2% yoy to -33.5% in 2021

By Helgi Library - May 21, 2023

Internet Mall made a net profit of CZK -570 mil in 2021, down 54.7% compared to the previous year. Historically, between 2000 and 2021, the company's net profit reached a high of CZK 74.6 mil in 2008 and a low of CZK -624 mil in 2019. The result implies a...

Internet Mall's Cash & Cash Equivalents fell 38.2% yoy to CZK 44.8 mil in 2021

By Helgi Library - May 21, 2023

Internet Mall's total assets reached CZK 2,818 mil at the end of 2021, down 17% compared to the previous year. Current assets amounted to CZK 2,089 mil, or 74.1% of total assets while cash stood at CZK 44.8 mil at the end of 2021. ...

Internet Mall's Net Debt/EBITDA fell 427% yoy to -1.62 in 2021

By Helgi Library - May 21, 2023

Internet Mall's net debt stood at CZK 354 mil and accounted for 61.1% of equity at the end of 2021. The ratio is up 61.9 pp compared to the previous year. Historically, the firm’s net debt to equity reached a high of 1,763% in 2016 and a low of ...

Internet Mall's Capital Expenditures rose 37.2% yoy to CZK 199 mil in 2021

By Helgi Library - May 21, 2023

Internet Mall invested a total of CZK 199 mil in 2021, down 37.2% compared to the previous year. Historically, between 2016 - 2021, the company's investments stood at a high of CZK 387 mil in 2018 and a low of CZK 40.6 mil in 2017. As...

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Internet Mall, a.s. is a Czech Republic-based company that owns and operates online stores in the Czech Republic such as MALL.cz. The company offers products that range from digital cameras to office furniture. It also owns and operates brick-and-mortar shops in Prague. The Company was founded in 2000 (former bilezbozi.cz, s.r.o.) and is based in Prague, the Czech Republic. Apart from the Czech market, the Company is operating in Germany, Poland, Hungary and in Slovakia. Since 2008 Internet Mall was a subsidiary of the Dutch company Netretail Holding B.V. At the end of 2015, Mall.cz has been taken over by investment group Rockaway.

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Finance

Internet Mall has been growing its sales by 8.19% a year on average in the last 5 years. EBITDA has fallen on average by 41.8% a year during that time to total of CZK -219 mil in 2021, or -2.06% of sales. That’s compared to -1.84% average margin seen in last five years.

The company netted CZK -570 mil in 2021 implying ROE of -73.1% and ROCE of -33.5%. Again, the average figures were -46.9% and -26.1%, respectively when looking at the previous 5 years.

Internet Mall’s net debt amounted to CZK 354 mil at the end of 2021, or 61.1% of equity. When compared to EBITDA, net debt was -1.62x, down when compared to average of -0.478x seen in the last 5 years.