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Koito Czech

Koito Czech's employees rose 6.20% yoy to 1,301 in 2019

By Helgi Analytics - September 19, 2020

Koito Czech employed 1,301 employees in 2019, up 6.2% compared to the previous year. Historically, between 2006 and 201...

Koito Czech's net profit fell 21.7% yoy to CZK 285 mil in 2019

By Helgi Analytics - September 19, 2020

Koito Czech made a net profit of CZK 285 mil in 2019, down 21.7% compared to the previous year. Total sales reached CZK 4,971 mil, ...

Koito Czech's Net Margin fell 17.8% yoy to 5.74% in 2019

By Helgi Analytics - September 19, 2020

Koito Czech made a net profit of CZK 285 mil with revenues of CZK 4,971 mil in 2019, down by 21.7% and down by 4.75%, respec...

Profit Statement 2017 2018 2019
Sales 5,083 5,219 4,971
Gross Profit CZK mil 1,376 1,777 1,659
EBITDA 733 589 532
EBIT 623 450 370
Pre-Tax Profit CZK mil 570 455 363
Net Profit CZK mil 469 364 285
Balance Sheet 2017 2018 2019
Total Assets CZK mil 3,457 3,803 4,065
Non-Current Assets CZK mil 1,041 1,343 2,537
Current Assets CZK mil 2,184 2,272 1,319
Working Capital CZK mil 653 708 570
Shareholders' Equity CZK mil 2,711 3,075 3,361
Liabilities CZK mil 746 727 704
Total Debt CZK mil 0 55.6 0
Net Debt CZK mil -1,032 -1,041 -192
Ratios 2017 2018 2019
ROE % 18.9 12.6 8.86
ROCE % 29.6 19.5 11.1
Gross Margin % 27.1 34.1 33.4
EBITDA Margin % 14.4 11.3 10.7
EBIT Margin % 12.3 8.62 7.45
Net Margin % 9.23 6.98 5.74
Net Debt/EBITDA -1.41 -1.77 -0.360
Net Debt/Equity % -38.1 -33.9 -5.70
Cash Flow 2017 2018 2019
Total Cash From Operations CZK mil 369 510 543
Total Cash From Investing CZK mil -141 -445 -1,449
Total Cash From Financing CZK mil 0 0 0
Net Change In Cash CZK mil 228 65.3 -905
Cash Conversion Cycle days 45.4 48.8 36.4
Cash Earnings CZK mil 579 503 447
Free Cash Flow CZK mil 228 65.3 -905

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overview Unit 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
income statement                            
Sales               1,552 3,213 3,940 4,192 5,083    
Gross Profit CZK mil               387 817 1,149 1,231 1,376    
EBIT               109 402 675 678 623    
Net Profit CZK mil               44.7 347 653 538 469    
                               
ROE %               6.57 39.6 47.4 27.2 18.9    
EBIT Margin %               7.02 12.5 17.1 16.2 12.3    
Net Margin %               2.88 10.8 16.6 12.8 9.23    
Employees               559 726 807 891 956    
balance sheet                            
Total Assets CZK mil               1,708 1,960 2,224 2,962 3,457    
Non-Current Assets CZK mil               875 847 843 942 1,041    
Current Assets CZK mil               757 1,004 1,202 1,830 2,184    
                               
Shareholders' Equity CZK mil               703 1,051 1,704 2,242 2,711    
Liabilities CZK mil               1,005 909 520 720 746    
Non-Current Liabilities CZK mil               0 0 0 12.4 13.9    
Current Liabilities CZK mil               1,004 909 518 596 630    
                               
Net Debt/EBITDA               3.17 0.827 -0.363 -1.02 -1.41    
Net Debt/Equity %               87.6 39.4 -16.6 -35.8 -38.1    
cash flow                            
Total Cash From Operations CZK mil ... ... ... ... ... ... ... ... ... ... ... 369    
Total Cash From Investing CZK mil ... ... ... ... ... ... ... ... ... ... ... -141    
Total Cash From Financing CZK mil ... ... ... ... ... ... ... ... ... ... ... 0    
Net Change In Cash CZK mil ... ... ... ... ... ... ... ... ... ... ... 228    
income statement Unit 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
income statement                            
Sales               1,552 3,213 3,940 4,192 5,083    
Cost of Goods & Services CZK mil               1,166 2,396 2,792 2,962 3,707    
Gross Profit CZK mil               387 817 1,149 1,231 1,376    
Staff Cost CZK mil               212 291 384 475 574    
Other Operating Cost (Income) CZK mil               -19.5 25.7 -12.6 -28.1 69.2    
EBITDA               194 500 778 784 733    
Depreciation CZK mil               85.5 98.4 103 105 110    
EBIT               109 402 675 678 623    
Net Financing Cost CZK mil               48.0 19.6 -9.23 12.2 52.6    
Extraordinary Cost CZK mil               4.33 3.89 -0.460 0 0    
Pre-Tax Profit CZK mil               56.6 378 685 666 570    
Tax CZK mil               -11.9 0 0 129 101    
Minorities CZK mil               0 0 0 0 0 ... ...
Net Profit CZK mil               44.7 347 653 538 469    
Net Profit Avail. to Common CZK mil               44.7 347 653 538 469    
growth rates                            
Total Revenue Growth % ...             -17.9 107 22.7 6.40 21.2    
Staff Cost Growth % ...             -7.75 37.4 31.9 23.8 20.7    
EBITDA Growth % ...             -2,405 157 55.5 0.771 -6.47    
EBIT Growth % ...             -219 269 68.0 0.477 -8.17    
Pre-Tax Profit Growth % ...             -153 568 81.0 -2.72 -14.4    
Net Profit Growth % ...             -146 677 88.1 -17.7 -12.7    
ratios                            
ROE %               6.57 39.6 47.4 27.2 18.9    
ROA %               2.78 18.9 31.2 20.7 14.6    
ROCE % ...             3.59 25.7 47.4 38.4 29.6    
Gross Margin %               24.9 25.4 29.2 29.4 27.1    
EBITDA Margin %               12.5 15.6 19.7 18.7 14.4    
EBIT Margin %               7.02 12.5 17.1 16.2 12.3    
Net Margin %               2.88 10.8 16.6 12.8 9.23    
Net Debt/EBITDA               3.17 0.827 -0.363 -1.02 -1.41    
balance sheet Unit 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
balance sheet                            
Cash & Cash Equivalents CZK mil               0.347 0.700 282 803 1,032    
Receivables CZK mil               298 609 554 625 708    
Inventories CZK mil               394 359 360 402 445    
Other ST Assets CZK mil               65.5 35.5 6.36 0 0    
Current Assets CZK mil               757 1,004 1,202 1,830 2,184    
Property, Plant & Equipment CZK mil               873 845 841 938 1,036    
LT Investments & Receivables CZK mil               1.11 1.11 < -0.001 0 < 0.001    
Intangible Assets CZK mil               0.577 1.23 1.92 4.00 4.42    
Goodwill CZK mil               0 0 0 0 0    
Non-Current Assets CZK mil               875 847 843 942 1,041    
Total Assets CZK mil               1,708 1,960 2,224 2,962 3,457    
                               
Trade Payables CZK mil               301 380 437 489 500    
Short-Term Debt CZK mil               617 416 0 0 0    
Other ST Liabilities CZK mil               86.2 114 81.8 107 130    
Current Liabilities CZK mil               1,004 909 518 596 630    
Long-Term Debt CZK mil               0 0 0 0 0    
Other LT Liabilities CZK mil               0 0 0 12.4 13.9    
Non-Current Liabilities CZK mil               0 0 0 12.4 13.9    
Liabilities CZK mil               1,005 909 520 720 746    
Equity Before Minority Interest CZK mil               703 1,051 1,704 2,242 2,711    
Minority Interest CZK mil               0 0 0 0 0    
Equity CZK mil               703 1,051 1,704 2,242 2,711    
growth rates                            
Total Asset Growth % ...             13.0 14.8 13.5 33.2 16.7    
Shareholders' Equity Growth % ...             6.79 49.4 62.2 31.5 20.9    
Net Debt Growth % ...             4.52 -32.8 -168 184 28.5    
Total Debt Growth % ...             4.53 -32.7 -100 ... ... ...  
ratios                            
Total Debt CZK mil               617 416 0 0 0    
Net Debt CZK mil               616 414 -282 -803 -1,032    
Working Capital CZK mil               391 588 477 539 653    
Capital Employed CZK mil               1,266 1,435 1,320 1,481 1,693    
Net Debt/Equity %               87.6 39.4 -16.6 -35.8 -38.1    
Current Ratio               0.754 1.10 2.32 3.07 3.47    
Quick Ratio               0.297 0.670 1.61 2.40 2.76    
cash flow Unit 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
cash flow                            
Net Profit CZK mil               44.7 347 653 538 469    
Depreciation CZK mil               85.5 98.4 103 105 110    
Non-Cash Items CZK mil ... ... ... ... ... ... ... ... ... ... ... -95.9    
Change in Working Capital CZK mil ...             79.0 -197 111 -61.7 -114    
Total Cash From Operations CZK mil ... ... ... ... ... ... ... ... ... ... ... 369    
                               
Capital Expenditures CZK mil ... ... ... ... ... ... ... ... ... ... ... -462    
Other Investing Activities CZK mil ... ... ... ... ... ... ... ... ... ... ... 321    
Total Cash From Investing CZK mil ... ... ... ... ... ... ... ... ... ... ... -141    
Issuance Of Debt CZK mil ...             26.8 -202 -416 0 0    
Total Cash From Financing CZK mil ... ... ... ... ... ... ... ... ... ... ... 0    
Net Change In Cash CZK mil ... ... ... ... ... ... ... ... ... ... ... 228    
ratios                            
Days Sales Outstanding days               70.0 69.2 51.3 54.4 50.8    
Days Sales Of Inventory days               123 54.7 47.0 49.6 43.8    
Days Payable Outstanding days               94.1 57.9 57.1 60.2 49.2    
Cash Conversion Cycle days               99.2 65.9 41.3 43.8 45.4    
Cash Earnings CZK mil               130 446 756 643 579    
Free Cash Flow CZK mil ... ... ... ... ... ... ... ... ... ... ... 228    
Capital Expenditures (As % of Sales) % ... ... ... ... ... ... ... ... ... ... ... 9.08    
other ratios Unit 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
                             
Employees               559 726 807 891 956    
Cost Per Employee USD per month               1,612 1,562 1,660 1,761 2,130    
Cost Per Employee (Local Currency) CZK per month               31,541 33,377 39,613 44,423 49,992    
Staff Cost (As % of Sales) %               13.6 9.05 9.74 11.3 11.3    
Effective Tax Rate %               -21.0 0 0 19.3 17.7    
Total Revenue Growth (5-year average) % ... ... ... ... ...     10.6 17.7 21.1 18.8 21.9    
Total Revenue Growth (10-year average) % ... ... ... ... ... ... ... ... ... ... 11.7 15.8    

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Koito Czech's Cash & Cash Equivalents fell 82.5% yoy to CZK 192 mil in 2019

By Helgi Analytics - September 19, 2020

Koito Czech's total assets reached CZK 4,065 mil at the end of 2019, up 6.89% compared to the previous year. Current assets amounted to CZK 1,319 mil, or 32.4% of total assets while cash stood at CZK 192 mil at the end of 2019. ...

Koito Czech's ROCE fell 43.2% yoy to 11.1% in 2019

By Helgi Analytics - September 19, 2020

Koito Czech made a net profit of CZK 285 mil in 2019, down 21.7% compared to the previous year. Historically, between 2006 and 2019, the company's net profit reached a high of CZK 653 mil in 2015 and a low of CZK -505 mil in 2008. The result implies a ret...

Koito Czech's Net Debt/EBITDA rose 79.6% yoy to -0.360 in 2019

By Helgi Analytics - September 19, 2020

Koito Czech's net debt stood at CZK -192 mil and accounted for -5.70% of equity at the end of 2019. The ratio is up 28.2 pp compared to the previous year. Historically, the firm’s net debt to equity reached a high of 378% in 2010 and a low of ...

More News

Koito Czech is a Czech Republic-based Company which was established in 2002 and started its production in Žatec in 2002. The Company is a subsidiary of Koito Group, which produces lighting equipment for cars, ships, aircraft and for rail transport including electronical parts and bulbs. Koito Group occupies a fifth of the world automotive lighting market. Koito Manufacturing Ltd. with headquarters in Japan has production plants and branch offices in Asia, in America and in Europe.

Koito Czech Logo

Finance

Koito Czech has been growing its sales by 9.12% a year on average in the last 5 years. EBITDA has grown on average by 1.25% a year during that time to total of 532 in 2019, or 10.7% of sales. That’s compared to 15.0% average margin seen in last five years.

The company netted CZK 285 mil in 2019 implying ROE of 8.86% and ROCE of 11.1%. Again, the average figures were 23.0% and 29.2%, respectively when looking at the previous 5 years.

Koito Czech’s net debt amounted to CZK -192 mil at the end of 2019, or -5.70% of equity. When compared to EBITDA, net debt was -0.360x, up when compared to average of -0.985x seen in the last 5 years.

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