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Libel's net profit fell 76.8% yoy to CZK 0.083 mil in 2019

By Helgi Analytics - December 3, 2020

Libel made a net profit of CZK 0.083 mil with revenues of CZK 73.0 mil in 2019, down by 76.8% and down by 10.6%, re...

Libel's Net Debt/EBITDA rose 36.5% yoy to 2.18 in 2019

By Helgi Analytics - December 3, 2020

Libel's net debt stood at CZK 9.84 mil and accounted for 120% of equity at the end of 2019. The ratio is up 19.3 pp ...

Libel's Net Margin fell 74.0% yoy to 0.114% in 2019

By Helgi Analytics - December 3, 2020

Libel made a net profit of CZK 0.083 mil with revenues of CZK 73.0 mil in 2019, down by 76.8% and down by 10.6%, respectivel...

Profit Statement 2017 2018 2019
Sales CZK mil 88.7 81.6 73.0
Gross Profit CZK mil 12.6 16.2 11.1
EBITDA CZK mil 6.93 5.11 4.51
EBIT CZK mil 3.04 1.20 0.883
Financing Cost CZK mil 0.452 0.572 0.595
Pre-Tax Profit CZK mil 2.06 0.575 0.225
Net Profit CZK mil 1.75 0.357 0.083
Balance Sheet 2017 2018 2019
Total Assets CZK mil 37.9 34.3 29.9
Non-Current Assets CZK mil 15.0 12.3 8.71
Current Assets CZK mil 22.3 21.5 21.1
Working Capital CZK mil 21.4 21.1 20.6
Shareholders' Equity CZK mil 7.75 8.11 8.19
Liabilities CZK mil 30.2 26.2 21.7
Total Debt CZK mil 12.7 8.51 10.4
Net Debt CZK mil 11.8 8.18 9.84
Ratios 2017 2018 2019
ROE % 25.4 4.50 1.02
ROCE % 4.71 1.02 0.265
Gross Margin % 14.2 19.9 15.3
EBITDA Margin % 7.81 6.27 6.18
EBIT Margin % 3.43 1.47 1.21
Net Margin % 1.97 0.438 0.114
Net Debt/EBITDA 1.71 1.60 2.18
Net Debt/Equity % 153 101 120
Cost of Financing % 3.55 5.40 6.29
Cash Flow 2017 2018 2019
Total Cash From Operations CZK mil -4.80 -2.91 -8.91
Total Cash From Investing CZK mil 4.93 6.55 7.25
Total Cash From Financing CZK mil -0.104 -4.19 1.92
Net Change In Cash CZK mil 0.027 -0.554 0.260
Cash Conversion Cycle days 98.2 116 119
Cash Earnings CZK mil 5.64 4.27 3.71
Free Cash Flow CZK mil 0.131 3.64 -1.66

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overview Unit 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
income statement                      
Sales CZK mil ...       57.6 71.9 80.3 93.7 88.7    
Gross Profit CZK mil ...       11.3 14.3 14.1 10.6 12.6    
EBIT CZK mil ...       1.15 3.70 1.23 2.62 3.04    
Net Profit CZK mil ...       0.997 2.86 0.279 1.40 1.75    
                         
ROE % ...       103 98.6 6.25 26.3 25.4    
EBIT Margin % ...       2.00 5.15 1.53 2.79 3.43    
Net Margin % ...       1.73 3.97 0.347 1.49 1.97    
balance sheet                      
Total Assets CZK mil ...       32.7 32.6 46.5 39.0 37.9    
Non-Current Assets CZK mil ...       19.2 15.5 18.7 16.0 15.0    
Current Assets CZK mil ...       13.1 16.7 27.3 22.7 22.3    
                         
Shareholders' Equity CZK mil ...       1.47 4.33 4.61 6.00 7.75    
Liabilities CZK mil ...       31.2 28.3 41.9 33.0 30.2    
Non-Current Liabilities CZK mil ...       25.2 25.0 46.0 24.3 20.6    
Current Liabilities CZK mil ...       5.36 9.78 12.4 8.62 9.61    
                         
Net Debt/EBITDA ...       0.719 2.92 5.79 1.89 1.71    
Net Debt/Equity % ...       314 646 1,109 199 153    
Cost of Financing % ... ...     2.97 1.46 1.29 0.386 3.55    
cash flow                      
Total Cash From Operations CZK mil ... ...     -8.13 -33.0 -27.5 32.8 -4.80    
Total Cash From Investing CZK mil ... ...     8.44 9.62 4.44 6.37 4.93    
Total Cash From Financing CZK mil ... ...     0.096 24.6 22.0 -39.2 -0.104    
Net Change In Cash CZK mil ... ...     0.404 1.20 -1.13 -0.018 0.027    
income statement Unit 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
income statement                      
Sales CZK mil ...       57.6 71.9 80.3 93.7 88.7    
Cost of Goods & Services CZK mil ...       46.3 57.6 66.2 83.1 76.1    
Gross Profit CZK mil ...       11.3 14.3 14.1 10.6 12.6    
Staff Cost CZK mil ...       4.57 4.71 4.93 5.47 6.72    
Other Operating Cost (Income) CZK mil ...       0.269 0.005 0.348 -1.19 -1.05    
EBITDA CZK mil ...       6.42 9.60 8.83 6.32 6.93    
Depreciation CZK mil ...       5.26 5.89 7.60 3.70 3.89    
EBIT CZK mil ...       1.15 3.70 1.23 2.62 3.04    
Net Financing Cost CZK mil ...       0.033 0.310 0.650 0.723 0.976    
Financing Cost CZK mil ...       0.159 0.258 0.527 0.125 0.452    
Extraordinary Cost CZK mil ...       0 0 0 0 0    
Pre-Tax Profit CZK mil ...       1.12 3.39 0.576 1.89 2.06    
Tax CZK mil ...       0.123 0.534 0.297 0.497 0.314    
Net Profit CZK mil ...       0.997 2.86 0.279 1.40 1.75    
Net Profit Avail. to Common CZK mil ...       0.997 2.86 0.279 1.40 1.75    
growth rates                      
Total Revenue Growth % ... ...     8.46 25.0 11.6 16.7 -5.34    
Staff Cost Growth % ... ...     1.06 3.13 4.54 11.1 22.7    
EBITDA Growth % ... ...     10.7 49.5 -7.97 -28.4 9.62    
EBIT Growth % ... ...     43.9 221 -66.9 113 16.0    
Pre-Tax Profit Growth % ... ...     143 203 -83.0 229 8.82    
Net Profit Growth % ... ...     286 187 -90.2 401 25.1    
ratios                      
ROE % ...       103 98.6 6.25 26.3 25.4    
ROA % ...       3.08 8.75 0.705 3.27 4.54    
ROCE % ... ...     3.49 10.6 0.839 3.59 4.71    
Gross Margin % ...       19.6 19.9 17.6 11.3 14.2    
EBITDA Margin % ...       11.1 13.3 11.0 6.75 7.81    
EBIT Margin % ...       2.00 5.15 1.53 2.79 3.43    
Net Margin % ...       1.73 3.97 0.347 1.49 1.97    
Cost of Financing % ... ...     2.97 1.46 1.29 0.386 3.55    
Net Debt/EBITDA ...       0.719 2.92 5.79 1.89 1.71    
balance sheet Unit 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
balance sheet                      
Cash & Cash Equivalents CZK mil ...       0.797 2.00 0.869 0.851 0.878    
Receivables CZK mil ...       3.81 4.76 10.8 9.01 6.66    
Inventories CZK mil ...       8.54 9.99 15.6 12.9 14.8    
Other ST Assets CZK mil ...       0 0 0 < -0.001 0    
Current Assets CZK mil ...       13.1 16.7 27.3 22.7 22.3    
Property, Plant & Equipment CZK mil ...       19.2 15.5 18.7 16.0 15.0    
LT Investments & Receivables CZK mil ...       0 0 0 0 0    
Intangible Assets CZK mil ...       0 0 0 0 0    
Goodwill CZK mil ...       0 0 0 0 0    
Non-Current Assets CZK mil ...       19.2 15.5 18.7 16.0 15.0    
Total Assets CZK mil ...       32.7 32.6 46.5 39.0 37.9    
                         
Trade Payables CZK mil ...       4.59 3.60 5.19 0 0    
Short-Term Debt CZK mil ...       0 4.98 5.95 4.36 6.73    
Other ST Liabilities CZK mil ...       0.769 1.20 1.23 4.26 2.88    
Current Liabilities CZK mil ...       5.36 9.78 12.4 8.62 9.61    
Long-Term Debt CZK mil ...       5.41 25.0 46.0 8.44 5.97    
Other LT Liabilities CZK mil ...       19.8 0 0 15.9 14.6    
Non-Current Liabilities CZK mil ...       25.2 25.0 46.0 24.3 20.6    
Liabilities CZK mil ...       31.2 28.3 41.9 33.0 30.2    
Equity Before Minority Interest CZK mil ...       1.47 4.33 4.61 6.00 7.75    
Minority Interest CZK mil ...       0 0 0 0 0    
Equity CZK mil ...       1.47 4.33 4.61 6.00 7.75    
growth rates                      
Total Asset Growth % ... ...     2.18 -0.358 42.8 -16.1 -2.81    
Shareholders' Equity Growth % ... ...     211 194 6.45 30.3 29.1    
Net Debt Growth % ... ...     -6.26 506 82.6 -76.6 -1.10    
Total Debt Growth % ... ... ...   1.81 454 73.4 -75.4 -0.812    
ratios                      
Total Debt CZK mil ...       5.41 30.0 52.0 12.8 12.7    
Net Debt CZK mil ...       4.61 28.0 51.1 12.0 11.8    
Working Capital CZK mil ...       7.77 11.1 21.2 21.9 21.4    
Capital Employed CZK mil ...       27.0 26.7 39.9 37.9 36.4    
Net Debt/Equity % ...       314 646 1,109 199 153    
Current Ratio ...       2.46 1.71 2.20 2.63 2.32    
Quick Ratio ...       0.860 0.690 0.946 1.14 0.785    
cash flow Unit 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
cash flow                      
Net Profit CZK mil ...       0.997 2.86 0.279 1.40 1.75    
Depreciation CZK mil ...       5.26 5.89 7.60 3.70 3.89    
Non-Cash Items CZK mil ... ...     -14.4 -38.4 -25.4 28.3 -10.9    
Change in Working Capital CZK mil ... ...     -0.007 -3.38 -10.1 -0.648 0.433    
Total Cash From Operations CZK mil ... ...     -8.13 -33.0 -27.5 32.8 -4.80    
                         
Capital Expenditures CZK mil ... ...     8.44 9.62 4.44 6.37 4.93    
Other Investing Activities CZK mil ... ...     0 0 0 0 0    
Total Cash From Investing CZK mil ... ...     8.44 9.62 4.44 6.37 4.93    
                         
Dividends Paid CZK mil ... ...     0 0 0 0 0    
Issuance Of Shares CZK mil         0 0 0 0 0 ... ...
Issuance Of Debt CZK mil ... ...     0.096 24.6 22.0 -39.2 -0.104    
Other Financing Activities CZK mil ... ...     -8.44 -9.62 -4.44 -6.37 -4.93    
Total Cash From Financing CZK mil ... ...     0.096 24.6 22.0 -39.2 -0.104    
Net Change In Cash CZK mil ... ...     0.404 1.20 -1.13 -0.018 0.027    
ratios                      
Days Sales Outstanding days ...       24.2 24.1 49.2 35.1 27.4    
Days Sales Of Inventory days ...       67.3 63.3 85.8 56.5 70.8    
Days Payable Outstanding days ...       36.2 22.8 28.6 0 0    
Cash Conversion Cycle days ...       55.3 64.6 106 91.6 98.2    
Cash Earnings CZK mil ...       6.26 8.75 7.88 5.10 5.64    
Free Cash Flow CZK mil ... ...     0.308 -23.4 -23.1 39.1 0.131    
Capital Expenditures (As % of Sales) % ... ...     -14.7 -13.4 -5.52 -6.80 -5.56    
other ratios Unit 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
                       
Material & Energy (As % of Sales) % ...       72.8 72.1 72.0 ... ... ... ...
Services (As % of Sales) % ...       7.61 7.99 10.4 ... ... ... ...
Staff Cost (As % of Sales) % ...       7.94 6.55 6.14 5.84 7.58    
Effective Tax Rate % ...       11.0 15.7 51.6 26.2 15.2    
Total Revenue Growth (5-year average) % ... ... ... ... ... ... 11.9 16.6 10.8    

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Libel's Capital Expenditures rose 10.7% yoy to CZK -7.25 mil in 2019

By Helgi Analytics - December 3, 2020

Libel invested a total of CZK -7.25 mil in 2019, down 10.7% compared to the previous year. Historically, between 2011 - 2019, the company's investments stood at a high of CZK 0.278 mil in 2011 and a low of CZK -9.62 mil in 2014. As a ...

Libel's ROCE fell 74.1% yoy to 0.265% in 2019

By Helgi Analytics - December 3, 2020

Libel made a net profit of CZK 0.083 mil in 2019, down 76.8% compared to the previous year. Historically, between 2010 and 2019, the company's net profit reached a high of CZK 2.86 mil in 2014 and a low of CZK -0.305 mil in 2010. The result implies a retu...

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Libel is a Czech Republic-based manufacturer of paper napkins and facial tissues in foil and cartons. The Company was founded in 2008 and supplies mainly small businesses and restaurants as well as large distributors.

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Finance

Libel has been growing its sales by 0.289% a year on average in the last 5 years. EBITDA has fallen on average by 14% a year during that time to total of CZK 4.51 mil in 2019, or 6.18% of sales. That’s compared to 7.60% average margin seen in last five years.

The company netted CZK 0.083 mil in 2019 implying ROE of 1.02% and ROCE of 0.265%. Again, the average figures were 12.7% and 2.08%, respectively when looking at the previous 5 years.

Libel’s net debt amounted to CZK 9.84 mil at the end of 2019, or 120% of equity. When compared to EBITDA, net debt was 2.18x, down when compared to average of 2.63x seen in the last 5 years.