Magna Exteriors Bohemia

Magna Exteriors Bohemia's net profit rose 62.6% yoy to CZK 541 mil in 2019

By Helgi Analytics - September 18, 2020

Magna Exteriors Bohemia made a net profit of CZK 541 mil in 2019, up 62.6% compared to the previous year. Total sales reached CZK 10...

Magna Exteriors Bohemia's employees fell 2.55% yoy to 1,869 in 2019

By Helgi Analytics - September 18, 2020

Magna Exteriors Bohemia employed 1,869 employees in 2019, down 2.55% compared to the previous year. Historically, between ...

Magna Exteriors Bohemia's Net Margin rose 51.6% yoy to 4.92% in 2019

By Helgi Analytics - September 18, 2020

Magna Exteriors Bohemia made a net profit of CZK 541 mil with revenues of CZK 10,986 mil in 2019, up by 62.6% and up by 7.24%, ...

Profit Statement 2017 2018 2019
Sales CZK mil 11,200 10,244 10,986
Gross Profit CZK mil 2,999 3,877 4,250
EBITDA CZK mil 1,189 539 771
EBIT CZK mil 978 322 492
Financing Cost CZK mil ... 4.69 0.801
Pre-Tax Profit CZK mil 1,321 281 549
Net Profit CZK mil 1,186 332 541
Dividends CZK mil 800 500 ...
Balance Sheet 2017 2018 2019
Total Assets CZK mil 8,449 7,533 7,823
Non-Current Assets CZK mil 2,645 3,521 3,525
Current Assets CZK mil 5,725 4,165 4,174
Working Capital CZK mil 4,584 2,713 2,547
Shareholders' Equity CZK mil 5,090 4,622 4,663
Liabilities CZK mil 3,359 2,911 3,160
Total Debt CZK mil 806 103 82.9
Net Debt CZK mil -134 -1,126 -861
Ratios 2017 2018 2019
ROE % 26.4 6.85 11.6
ROCE % 18.5 4.94 8.79
Gross Margin % 26.8 37.8 38.7
EBITDA Margin % 10.6 5.26 7.02
EBIT Margin % 8.73 3.15 4.48
Net Margin % 10.6 3.25 4.92
Net Debt/EBITDA -0.113 -2.09 -1.12
Net Debt/Equity % -2.63 -24.4 -18.5
Cost of Financing % ... 1.03 0.864
Cash Flow 2017 2018 2019
Total Cash From Operations CZK mil 7.15 832 1,340
Total Cash From Investing CZK mil -367 -741 -550
Total Cash From Financing CZK mil 353 -71.8 -806
Net Change In Cash CZK mil -7.40 19.2 -15.1
Cash Conversion Cycle days 155 98.8 79.5
Cash Earnings CZK mil 1,398 549 819
Free Cash Flow CZK mil -360 91.0 791

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overview Unit 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
income statement                        
Sales CZK mil           6,910 8,420 8,048 8,860 11,200    
Gross Profit CZK mil           1,645 1,775 2,292 1,114 2,999    
EBIT CZK mil           413 456 794 534 978    
Net Profit CZK mil           493 535 1,116 833 1,186    
                           
ROE %           16.6 17.9 33.7 21.4 26.4    
EBIT Margin %           5.97 5.42 9.87 6.03 8.73    
Net Margin %           7.14 6.36 13.9 9.40 10.6    
Employees           1,776 1,932 2,308 1,773 1,872    
balance sheet                        
Total Assets CZK mil           6,583 6,254 6,762 6,665 8,449    
Non-Current Assets CZK mil           2,919 3,175 2,482 2,479 2,645    
Current Assets CZK mil           3,601 3,000 4,197 4,107 5,725    
                           
Shareholders' Equity CZK mil           3,216 2,752 3,871 3,904 5,090    
Liabilities CZK mil           3,367 3,502 2,891 2,761 3,359    
Non-Current Liabilities CZK mil           69.9 19.6 7.24 2.93 0.202    
Current Liabilities CZK mil           2,113 2,467 2,015 2,094 2,674    
                           
Net Debt/EBITDA           -1.98 -1.56 -0.850 -0.751 -0.113    
Net Debt/Equity %           -36.5 -38.2 -22.5 -14.1 -2.63    
Cost of Financing % ... ... ... ... ... ... ... ... ... ...    
cash flow                        
Total Cash From Operations CZK mil ... ... ... ... ... ... ... ... 1,586 7.15    
Total Cash From Investing CZK mil ... ... ... ... ... ... ... ... -203 -367    
Total Cash From Financing CZK mil ... ... ... ... ... ... ... ... -1,382 353    
Net Change In Cash CZK mil ... ... ... ... ... ... ... ... 1.02 -7.40    
income statement Unit 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
income statement                        
Sales CZK mil           6,910 8,420 8,048 8,860 11,200    
Cost of Goods & Services CZK mil           5,265 6,646 5,756 7,746 8,201    
Gross Profit CZK mil           1,645 1,775 2,292 1,114 2,999    
Staff Cost CZK mil           1,024 1,120 1,202 1,150 1,280    
Other Operating Cost (Income) CZK mil           29.0 -19.4 64.3 -771 529    
EBITDA CZK mil           592 674 1,025 734 1,189    
Depreciation CZK mil           179 218 231 200 211    
EBIT CZK mil           413 456 794 534 978    
Net Financing Cost CZK mil           -88.1 -118 -447 -307 -343    
Financing Cost CZK mil ... ... ... ... ... ... ... ... ... ...    
Financing Income CZK mil ... ... ... ... ... ... ... ... ... ...    
(Income) / Loss from Affiliates CZK mil ... ... ... ... ... ... ... ... ... ...    
Extraordinary Cost CZK mil           0 0 29.3 0 0    
Pre-Tax Profit CZK mil           501 574 1,211 841 1,321    
Tax CZK mil           7.36 38.8 95.1 8.85 135    
Minorities CZK mil           0 0 0 0 0    
Net Profit CZK mil           493 535 1,116 833 1,186    
Net Profit Avail. to Common CZK mil           493 535 1,116 833 1,186    
Dividends CZK mil ... ... ... ... ... ... ... 800 0 800   ...
growth rates                        
Total Revenue Growth % ...         2.03 21.9 -4.43 10.1 26.4    
Staff Cost Growth % ...         6.27 9.41 7.33 -4.36 11.3    
EBITDA Growth % ...         33.5 13.8 52.2 -28.4 62.0    
EBIT Growth % ...         39.5 10.5 74.1 -32.8 83.2    
Pre-Tax Profit Growth % ...         -62.6 14.6 111 -30.6 57.1    
Net Profit Growth % ...         -62.6 8.49 109 -25.4 42.4    
ratios                        
ROE %           16.6 17.9 33.7 21.4 26.4    
ROA %           8.10 8.34 17.2 12.4 15.7    
ROCE % ...         12.0 11.3 23.6 15.6 18.5    
Gross Margin %           23.8 21.1 28.5 12.6 26.8    
EBITDA Margin %           8.56 8.00 12.7 8.29 10.6    
EBIT Margin %           5.97 5.42 9.87 6.03 8.73    
Net Margin %           7.14 6.36 13.9 9.40 10.6    
Payout Ratio % ... ... ... ... ... ... ... 71.7 0 67.4   ...
Cost of Financing % ... ... ... ... ... ... ... ... ... ...    
Net Debt/EBITDA           -1.98 -1.56 -0.850 -0.751 -0.113    
balance sheet Unit 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
balance sheet                        
Cash & Cash Equivalents CZK mil           11.3 16.4 14.2 15.2 7.83    
Receivables CZK mil           2,720 1,661 2,762 2,050 4,075    
Inventories CZK mil           811 1,280 1,344 2,041 1,642    
Other ST Assets CZK mil           59.4 42.8 76.6 < -0.001 < -0.001    
Current Assets CZK mil           3,601 3,000 4,197 4,107 5,725    
Property, Plant & Equipment CZK mil           1,661 2,114 1,547 1,544 1,710    
LT Investments & Receivables CZK mil           1,254 1,055 932 932 932    
Intangible Assets CZK mil           4.08 6.02 2.86 3.07 3.43    
Goodwill CZK mil           0 0 0 0 0    
Non-Current Assets CZK mil           2,919 3,175 2,482 2,479 2,645    
Total Assets CZK mil           6,583 6,254 6,762 6,665 8,449    
                           
Trade Payables CZK mil           1,364 1,732 1,498 1,011 1,133    
Short-Term Debt CZK mil           91.3 21.4 74.5 396 806    
Other ST Liabilities CZK mil           658 713 442 686 736    
Current Liabilities CZK mil           2,113 2,467 2,015 2,094 2,674    
Long-Term Debt CZK mil           0 0 0 0 0    
Other LT Liabilities CZK mil           69.9 19.6 7.24 2.93 0.202    
Non-Current Liabilities CZK mil           69.9 19.6 7.24 2.93 0.202    
Liabilities CZK mil           3,367 3,502 2,891 2,761 3,359    
Equity Before Minority Interest CZK mil           3,216 2,752 3,871 3,904 5,090    
Minority Interest CZK mil           0 0 0 0 0    
Equity CZK mil           3,216 2,752 3,871 3,904 5,090    
growth rates                        
Total Asset Growth % ...         17.7 -4.99 8.11 -1.43 26.8    
Shareholders' Equity Growth % ...         18.6 -14.4 40.6 0.856 30.4    
Net Debt Growth % ...         -22.5 -10.5 -17.0 -36.8 -75.7    
Total Debt Growth % ...     ... ... ... -76.6 249 431 103    
ratios                        
Total Debt CZK mil           91.3 21.4 74.5 396 806    
Net Debt CZK mil           -1,174 -1,050 -872 -551 -134    
Working Capital CZK mil           2,167 1,209 2,608 3,080 4,584    
Capital Employed CZK mil           5,086 4,384 5,090 5,559 7,230    
Net Debt/Equity %           -36.5 -38.2 -22.5 -14.1 -2.63    
Current Ratio           1.70 1.22 2.08 1.96 2.14    
Quick Ratio           1.29 0.680 1.38 0.986 1.53    
cash flow Unit 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
cash flow                        
Net Profit CZK mil           493 535 1,116 833 1,186    
Depreciation CZK mil           179 218 231 200 211    
Non-Cash Items CZK mil ... ... ... ... ... ... ... ... 1,024 114    
Change in Working Capital CZK mil ...         -1,784 958 -1,399 -472 -1,504    
Total Cash From Operations CZK mil ... ... ... ... ... ... ... ... 1,586 7.15    
                           
Capital Expenditures CZK mil ... ... ... ... ... ... ... ... -232 -367    
Other Investing Activities CZK mil ... ... ... ... ... ... ... ... 29.7 0    
Total Cash From Investing CZK mil ... ... ... ... ... ... ... ... -203 -367    
                           
Dividends Paid CZK mil ... ... ... ... ... ... ... ... -800 0    
Issuance Of Debt CZK mil ...         91.3 -69.9 53.2 322 410    
Other Financing Activities CZK mil ... ... ... ... ... ... ... ... -701 310    
Total Cash From Financing CZK mil ... ... ... ... ... ... ... ... -1,382 353    
Net Change In Cash CZK mil ... ... ... ... ... ... ... ... 1.02 -7.40    
ratios                        
Days Sales Outstanding days           144 72.0 125 84.5 133    
Days Sales Of Inventory days           56.2 70.3 85.2 96.2 73.1    
Days Payable Outstanding days           94.5 95.1 95.0 47.7 50.4    
Cash Conversion Cycle days           105 47.2 116 133 155    
Cash Earnings CZK mil           672 753 1,347 1,033 1,398    
Free Cash Flow CZK mil ... ... ... ... ... ... ... ... 1,383 -360    
Capital Expenditures (As % of Sales) % ... ... ... ... ... ... ... ... 2.62 3.28    
other ratios Unit 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
                         
Employees           1,776 1,932 2,308 1,773 1,872    
Cost Per Employee USD per month           2,456 2,261 1,819 2,142 2,429    
Cost Per Employee (Local Currency) CZK per month           48,046 48,323 43,416 54,053 57,002    
Staff Cost (As % of Sales) %           14.8 13.3 14.9 13.0 11.4    
Effective Tax Rate %           1.47 6.75 7.85 1.05 10.2    
Total Revenue Growth (5-year average) % ... ... ... ... ... 4.70 9.24 8.69 8.83 10.6    
Total Revenue Growth (10-year average) % ... ... ... ... ... ... ... ... ... ...    

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Magna Bohemia's Cash & Cash Equivalents fell 55.9% yoy to CZK 11.9 mil in 2019

By Helgi Analytics - September 18, 2020

Magna Exteriors Bohemia's total assets reached CZK 7,823 mil at the end of 2019, up 3.84% compared to the previous year. Current assets amounted to CZK 4,174 mil, or 53.4% of total assets while cash stood at CZK 11.9 mil at the end of 2019....

Magna Exteriors Bohemia's ROCE rose 77.9% yoy to 8.79% in 2019

By Helgi Analytics - September 18, 2020

Magna Exteriors Bohemia made a net profit of CZK 541 mil in 2019, up 62.6% compared to the previous year. Historically, between 2008 and 2019, the company's net profit reached a high of CZK 1,319 mil in 2012 and a low of CZK -1,765 mil in 2009. The result...

Magna Exteriors Bohemia's Net Debt/EBITDA rose 46.5% yoy to -1.12 in 2019

By Helgi Analytics - September 18, 2020

Magna Exteriors Bohemia's net debt stood at CZK -861 mil and accounted for -18.5% of equity at the end of 2019. The ratio is up 5.90 pp compared to the previous year. Historically, the firm’s net debt to equity reached a high of 217% in 2009 and ...

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Magna Exteriors Bohemia is a Czech Republic-based subsidiary of Magna International Inc., a Canadian mobility technology company for automakers. The Magna Exteriors portfolio of products includes liftgates, door modules, exterior fascias and trim, front-end modules, active aerodynamic systems, running boards, sealing, trim and engineered glass. Advanced expertise in exterior design and lightweight composites is incorporated within each product line. Magna supplies General Motors, Ford Motor Company and FCA, as well as BMW, Mercedes, Volkswagen and Tesla Motors, among others. The Group is headquartered in Aurora, Ontario.

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Finance

Magna Exteriors Bohemia has been growing its sales by 5.46% a year on average in the last 5 years. EBITDA has grown on average by 2.73% a year during that time to total of CZK 771 mil in 2019, or 7.02% of sales. That’s compared to 8.79% average margin seen in last five years.

The company netted CZK 541 mil in 2019 implying ROE of 11.6% and ROCE of 8.79%. Again, the average figures were 20.0% and 14.3%, respectively when looking at the previous 5 years.

Magna Exteriors Bohemia’s net debt amounted to CZK -861 mil at the end of 2019, or -18.5% of equity. When compared to EBITDA, net debt was -1.12x, down when compared to average of -0.984x seen in the last 5 years.