Marelli Automotive Lighting Czech Republic

Marelli's net profit fell 81.8% yoy to CZK 121 mil in 2019

By Helgi Analytics - September 17, 2020

Marelli Automotive Lighting Czech Republic made a net profit of CZK 121 mil with revenues of CZK 12,741 mil in 2019, down by 81.8...

Marelli's employees fell 2.73% yoy to 1,959 in 2019

By Helgi Analytics - September 17, 2020

Marelli Automotive Lighting Czech Republic employed 1,959 employees in 2019, down 2.73% compared to the previous year. Histo...

Marelli's Net Margin fell 81.6% yoy to 0.946% in 2019

By Helgi Analytics - September 17, 2020

Marelli Automotive Lighting Czech Republic made a net profit of CZK 121 mil with revenues of CZK 12,741 mil in 2019, down by 81.8% a...

Profit Statement 2017 2018 2019
Sales CZK mil 16,162 12,844 12,741
Gross Profit CZK mil 3,537 3,557 3,535
EBITDA CZK mil 2,168 1,276 751
EBIT CZK mil 1,659 739 120
Pre-Tax Profit CZK mil 1,766 816 170
Net Profit CZK mil 1,505 661 121
Dividends CZK mil ... ... ...
Balance Sheet 2017 2018 2019
Total Assets CZK mil 6,510 5,563 5,971
Non-Current Assets CZK mil 2,423 2,512 3,050
Current Assets CZK mil 3,982 2,959 2,749
Working Capital CZK mil 2,615 1,572 1,222
Shareholders' Equity CZK mil 4,235 3,325 2,798
Liabilities CZK mil 2,276 2,238 3,173
Total Debt CZK mil 0 2.91 64.5
Net Debt CZK mil -28.2 -17.9 58.1
Ratios 2017 2018 2019
ROE % 34.4 17.5 3.94
ROCE % 29.1 14.5 2.89
Gross Margin % 21.9 27.7 27.7
EBITDA Margin % 13.4 9.93 5.89
EBIT Margin % 10.3 5.75 0.942
Net Margin % 9.31 5.14 0.946
Net Debt/EBITDA -0.013 -0.014 0.077
Net Debt/Equity % -0.665 -0.537 2.08
Cash Flow 2017 2018 2019
Total Cash From Operations CZK mil 2,005 1,019 394
Total Cash From Investing CZK mil -137 -682 -1,040
Total Cash From Financing CZK mil -1,860 -347 630
Net Change In Cash CZK mil 8.12 -10.9 -16.3
Cash Conversion Cycle days 55.7 41.3 31.4
Cash Earnings CZK mil 2,013 1,197 751
Free Cash Flow CZK mil 1,868 336 -646

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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
income statement                                        
Sales CZK mil                           8,576 13,492 15,951 18,169 16,162    
Gross Profit CZK mil                           1,804 2,627 3,058 3,704 3,537    
EBIT CZK mil                           643 1,227 1,582 2,003 1,659    
Net Profit CZK mil                           509 992 1,527 1,660 1,505    
                                           
ROE %                           24.9 43.1 46.9 40.6 34.4    
EBIT Margin %                           7.50 9.10 9.92 11.0 10.3    
Net Margin %                           5.94 7.36 9.57 9.13 9.31    
Employees                           1,452 1,819 2,046 2,147 2,136    
balance sheet                                        
Total Assets CZK mil                           3,879 5,713 6,509 6,846 6,510    
Non-Current Assets CZK mil                           1,974 2,369 2,421 2,235 2,423    
Current Assets CZK mil                           1,763 3,166 3,888 4,430 3,982    
                                           
Shareholders' Equity CZK mil                           1,766 2,834 3,671 4,507 4,235    
Liabilities CZK mil                           2,113 2,879 2,838 2,340 2,276    
Non-Current Liabilities CZK mil                           31.5 41.3 48.9 45.7 52.2    
Current Liabilities CZK mil                           2,061 2,803 2,713 2,204 2,190    
                                           
Net Debt/EBITDA                           -0.002 -0.023 -0.009 -0.008 -0.013    
Net Debt/Equity %                           -0.134 -1.30 -0.495 -0.445 -0.665    
cash flow                                        
Total Cash From Operations CZK mil ... ... ... ... ...                 990 1,500 1,549 2,565 2,005    
Total Cash From Investing CZK mil ... ... ... ... ...                 81.7 -1,479 -856 -1,563 -137    
Total Cash From Financing CZK mil ... ... ... ... ...                 -1,083 0 -712 -1,000 -1,860    
Net Change In Cash CZK mil ... ... ... ... ...                 -11.2 20.8 -18.7 1.88 8.12    
income statement Unit 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
income statement                                        
Sales CZK mil                           8,576 13,492 15,951 18,169 16,162    
Cost of Goods & Services CZK mil                           6,772 10,865 12,893 14,464 12,625    
Gross Profit CZK mil                           1,804 2,627 3,058 3,704 3,537    
Staff Cost CZK mil                           845 1,043 1,185 1,282 1,385    
Other Operating Cost (Income) CZK mil                           -12.8 -40.8 -179 -109 -15.6    
EBITDA CZK mil                           972 1,624 2,053 2,531 2,168    
Depreciation CZK mil                           329 397 471 529 508    
EBIT CZK mil                           643 1,227 1,582 2,003 1,659    
Net Financing Cost CZK mil                           73.9 137 -58.4 -18.3 -107    
Extraordinary Cost CZK mil                           0 0 0 0 0    
Pre-Tax Profit CZK mil                           570 1,090 1,640 2,021 1,766    
Tax CZK mil                           60.1 97.6 113 161 261    
Minorities CZK mil                           0 0 0 0 0 ... ...
Net Profit CZK mil                           509 992 1,527 1,660 1,505    
Net Profit Avail. to Common CZK mil                           509 992 1,527 1,660 1,505    
Dividends CZK mil ... ... ... ... ... ... ... ...       ...   977 712 1,000 1,860 ... ... ...
growth rates                                        
Total Revenue Growth % ...                         19.6 57.3 18.2 13.9 -11.0    
Staff Cost Growth % ...                         12.1 23.5 13.5 8.20 8.06    
EBITDA Growth % ...                         3.37 67.0 26.4 23.3 -14.4    
EBIT Growth % ...                         0.068 90.7 28.9 26.6 -17.1    
Pre-Tax Profit Growth % ...                         -9.62 91.4 50.5 23.2 -12.6    
Net Profit Growth % ...                         -15.5 94.8 53.8 8.71 -9.32    
ratios                                        
ROE %                           24.9 43.1 46.9 40.6 34.4    
ROA %                           13.3 20.7 25.0 24.9 22.5    
ROCE %                           23.6 35.9 47.7 38.6 29.1    
Gross Margin %                           21.0 19.5 19.2 20.4 21.9    
EBITDA Margin %                           11.3 12.0 12.9 13.9 13.4    
EBIT Margin %                           7.50 9.10 9.92 11.0 10.3    
Net Margin %                           5.94 7.36 9.57 9.13 9.31    
Payout Ratio % ... ... ... ... ... ... ... ...       ...   192 71.7 65.5 112 ... ... ...
Net Debt/EBITDA                           -0.002 -0.023 -0.009 -0.008 -0.013    
balance sheet Unit 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
balance sheet                                        
Cash & Cash Equivalents CZK mil                           15.8 36.9 18.2 20.1 28.2    
Receivables CZK mil                           1,045 1,363 1,888 3,792 3,149    
Inventories CZK mil                           626 970 867 598 786    
Other ST Assets CZK mil                           76.8 796 1,116 19.3 19.6    
Current Assets CZK mil                           1,763 3,166 3,888 4,430 3,982    
Property, Plant & Equipment CZK mil                           1,960 2,348 2,407 2,221 2,414    
LT Investments & Receivables CZK mil                           < -0.001 0.002 < -0.001 < -0.001 < 0.001    
Intangible Assets CZK mil                           13.6 21.0 13.7 14.4 9.38    
Goodwill CZK mil                           0 0 0 0 0    
Non-Current Assets CZK mil                           1,974 2,369 2,421 2,235 2,423    
Total Assets CZK mil                           3,879 5,713 6,509 6,846 6,510    
                                           
Trade Payables CZK mil                           1,209 1,610 1,865 1,332 1,319    
Short-Term Debt CZK mil                           13.4 0 0 0 0    
Other ST Liabilities CZK mil                           839 1,192 848 872 871    
Current Liabilities CZK mil                           2,061 2,803 2,713 2,204 2,190    
Long-Term Debt CZK mil                           0 0 0 0 0    
Other LT Liabilities CZK mil                           31.5 41.3 48.9 45.7 52.2    
Non-Current Liabilities CZK mil                           31.5 41.3 48.9 45.7 52.2    
Liabilities CZK mil                           2,113 2,879 2,838 2,340 2,276    
Equity Before Minority Interest CZK mil                           1,766 2,834 3,671 4,507 4,235    
Minority Interest CZK mil                           0 0 0 0 0    
Equity CZK mil                           1,766 2,834 3,671 4,507 4,235    
growth rates                                        
Total Asset Growth % ...                         2.79 47.3 13.9 5.18 -4.91    
Shareholders' Equity Growth % ...                         -24.3 60.5 29.5 22.8 -6.03    
Net Debt Growth % ...                         -91.5 1,460 -50.7 10.4 40.4    
Total Debt Growth % ...   ... ... ...   ... ... ... ... ... ... ... ... -100 ... ... ... ...  
ratios                                        
Total Debt CZK mil                           13.4 0 0 0 0    
Net Debt CZK mil                           -2.37 -36.9 -18.2 -20.1 -28.2    
Working Capital CZK mil                           462 723 890 3,059 2,615    
Capital Employed CZK mil                           2,436 3,092 3,310 5,294 5,038    
Net Debt/Equity %                           -0.134 -1.30 -0.495 -0.445 -0.665    
Current Ratio                           0.856 1.13 1.43 2.01 1.82    
Quick Ratio                           0.515 0.500 0.703 1.73 1.45    
cash flow Unit 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
cash flow                                        
Net Profit CZK mil                           509 992 1,527 1,660 1,505    
Depreciation CZK mil                           329 397 471 529 508    
Non-Cash Items CZK mil ... ... ... ... ...                 487 371 -282 2,546 -453    
Change in Working Capital CZK mil ... ... ... ... ...                 -335 -261 -167 -2,169 444    
Total Cash From Operations CZK mil ... ... ... ... ...                 990 1,500 1,549 2,565 2,005    
                                           
Capital Expenditures CZK mil ... ... ... ... ...                 -554 -725 -523 -417 -557    
Other Investing Activities CZK mil ... ... ... ... ...                 635 -754 -333 -1,146 420    
Total Cash From Investing CZK mil ... ... ... ... ...                 81.7 -1,479 -856 -1,563 -137    
                                           
Dividends Paid CZK mil ... ... ... ... ... ... ... ... ...       ... -200 -977 -712 -1,000 -1,860 ... ...
Issuance Of Debt CZK mil ... ... ... ... ...                 13.4 -13.4 0 0 0    
Other Financing Activities CZK mil ... ... ... ... ... ... ... ... ...       ... -978 2,470 856 1,563 137 ... ...
Total Cash From Financing CZK mil ... ... ... ... ...                 -1,083 0 -712 -1,000 -1,860    
Net Change In Cash CZK mil ... ... ... ... ...                 -11.2 20.8 -18.7 1.88 8.12    
ratios                                        
Days Sales Outstanding days                           44.5 36.9 43.2 76.2 71.1    
Days Sales Of Inventory days                           33.7 32.6 24.5 15.1 22.7    
Days Payable Outstanding days                           65.1 54.1 52.8 33.6 38.1    
Cash Conversion Cycle days                           13.1 15.4 14.9 57.7 55.7    
Cash Earnings CZK mil                           838 1,389 1,998 2,188 2,013    
Free Cash Flow CZK mil ... ... ... ... ...                 1,072 20.8 693 1,002 1,868    
Capital Expenditures (As % of Sales) % ... ... ... ... ...                 6.46 5.38 3.28 2.30 3.44    
other ratios Unit 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
                                         
Employees                           1,452 1,819 2,046 2,147 2,136    
Cost Per Employee USD per month                           2,478 2,237 2,022 1,972 2,303    
Cost Per Employee (Local Currency) CZK per month                           48,479 47,805 48,252 49,754 54,039    
Staff Cost (As % of Sales) %                           9.85 7.73 7.43 7.06 8.57    
Effective Tax Rate %                           10.6 8.96 6.91 7.98 14.8    
Revenues From Abroad CZK mil                           8,495 13,492 15,887 18,169 16,162    
Domestic Revenues CZK mil                           81.9 0 64.8 0 0    
Revenues From Abroad (As % Of Total) %                           99.0 100 99.6 100 100    
Total Revenue Growth (5-year average) % ... ... ... ... ...                 4.51 23.4 25.0 23.4 17.7    
Total Revenue Growth (10-year average) % ... ... ... ... ... ... ... ... ... ...       3.67 7.12 9.79 9.79 6.27    
sales geography Unit 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
                                         
Sales in Czechia CZK mil                           81.9 0 64.8 0 0    
Sales in Czechia (As % of Total) %                           0.955 0 0.406 0 0    

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Marelli's Capital Expenditures fell 52.4% yoy to CZK 1,040 mil in 2019

By Helgi Analytics - September 17, 2020

Marelli Automotive Lighting Czech Republic invested a total of CZK 1,040 mil in 2019, up 52.4% compared to the previous year. Historically, between 2005 - 2019, the company's investments stood at a high of CZK 1,040 mil in 2019 and a low of CZK ...

Marelli's ROCE fell 80.1% yoy to 2.89% in 2019

By Helgi Analytics - September 17, 2020

Marelli Automotive Lighting Czech Republic made a net profit of CZK 121 mil in 2019, down 81.8% compared to the previous year. Historically, between 2000 and 2019, the company's net profit reached a high of CZK 1,660 mil in 2016 and a low of CZK 81.2 mil in 2004...

Marelli's Total Cash From Operations fell 61.4% yoy to CZK 394 mil in 2019

By Helgi Analytics - September 17, 2020

Marelli Automotive Lighting Czech Republic's operating cash flow stood at CZK 394 mil in 2019, down 61.4% when compared to the previous year. Historically, between 2005 - 2019, the firm’s operating cash flow reached a high of CZK 2,565 mil in 2016 and ...

Marelli's Cash & Cash Equivalents fell 69.1% yoy to CZK 6.43 mil in 2019

By Helgi Analytics - September 17, 2020

Marelli Automotive Lighting Czech Republic's total assets reached CZK 5,971 mil at the end of 2019, up 7.34% compared to the previous year. Current assets amounted to CZK 2,749 mil, or 46.0% of total assets while cash stood at CZK 6.43 mil ...

Marelli's Net Debt/EBITDA rose 653% yoy to 0.077 in 2019

By Helgi Analytics - September 17, 2020

Marelli Automotive Lighting Czech Republic's net debt stood at CZK 58.1 mil and accounted for 2.08% of equity at the end of 2019. The ratio is up 2.61 pp compared to the previous year. Historically, the firm’s net debt to equity reached a high of 95.8% ...

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Marelli Automotive Lighting Jihlava (Czech Republic) s.r.o. is a Czech Republic-based manufacturer of lamps for most European car makers. The Company was founded in 1999 as a joint-venture between Germany's Robert Bosch and Italy's Magneti Marelli. Since 2003, Automotive Lighting is a fully owned subsidiary of Magneti Marelli. As the Company names suggests, Automotive Lighting manufactures lamps for the automotive industry, namely for BMW, Honda, Kia, Mercedes-Benz, Mitsubishi, Nissan, Opel, Renault, Škoda and Volkswagen. Most of the production is exported

Marelli Automotive Lighting Czech Republic Logo

Finance

Marelli Automotive Lighting Czech Republic has been growing its sales by -1.14% a year on average in the last 5 years. EBITDA has fallen on average by 14.3% a year during that time to total of CZK 751 mil in 2019, or 5.89% of sales. That’s compared to 11.2% average margin seen in last five years.

The company netted CZK 121 mil in 2019 implying ROE of 3.94% and ROCE of 2.89%. Again, the average figures were 28.7% and 26.6%, respectively when looking at the previous 5 years.

Marelli Automotive Lighting Czech Republic’s net debt amounted to CZK 58.1 mil at the end of 2019, or 2.08% of equity. When compared to EBITDA, net debt was 0.077x, up when compared to average of 0.007x seen in the last 5 years.