Maxion Wheels Czech

Profit Statement 2013 2014 2015
Sales CZK mil 2,998 3,011 3,118
Gross Profit CZK mil 630 614 609
EBITDA CZK mil 309 353 311
EBIT CZK mil 50.8 136 86.5
Financing Cost CZK mil -78.8 14.6 84.1
Pre-Tax Profit CZK mil 130 122 2.48
Net Profit CZK mil 105 95.4 10.2
Balance Sheet 2013 2014 2015
Total Assets CZK mil 4,099 4,113 2,465
Non-Current Assets CZK mil 1,344 1,412 1,530
Current Assets CZK mil 2,752 2,697 930
Working Capital CZK mil 218 150 198
Shareholders' Equity CZK mil 701 797 807
Liabilities CZK mil 3,397 3,316 1,658
Total Debt CZK mil 2,645 2,522 839
Net Debt CZK mil 2,637 2,488 805
Ratios 2013 2014 2015
ROE % 16.4 12.7 1.28
ROCE % 5.93 6.11 0.623
Gross Margin % 21.0 20.4 19.5
EBITDA Margin % 10.3 11.7 9.99
EBIT Margin % 1.69 4.52 2.77
Net Margin % 3.51 3.17 0.329
Net Debt/EBITDA 8.53 7.04 2.59
Net Debt/Equity 3.76 3.12 0.998
Cost of Financing % -3.09 0.564 5.00
Cash Flow 2013 2014 2015
Total Cash From Operations CZK mil 444 271 160
Total Cash From Investing CZK mil -439 -97.2 1,528
Total Cash From Financing CZK mil -15.3 -148 -1,688
Net Change In Cash CZK mil -9.58 25.2 0.335
Cash Conversion Cycle days 19.8 12.1 17.4
Cash Earnings CZK mil 364 313 235
Free Cash Flow CZK mil 5.71 173 1,688

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summary Unit 2010 2011 2012 2013 2014 2015
income statement            
Sales CZK mil ... 3,662 4,038 2,998    
Gross Profit CZK mil ... 845 784 630    
EBIT CZK mil ... 237 272 50.8    
Net Profit CZK mil ... -2.93 107 105    
ROE % ... -0.610 20.2 16.4    
EBIT Margin % ... 6.47 6.73 1.69    
Net Margin % ... -0.080 2.66 3.51    
Employees ... 716 721 688    
balance sheet            
Total Assets CZK mil 3,354 3,732 4,012 4,099    
Non-Current Assets CZK mil 2,187 1,936 1,740 1,344    
Current Assets CZK mil 1,162 1,792 2,261 2,752    
Shareholders' Equity CZK mil 481 478 585 701    
Liabilities CZK mil 2,874 3,254 3,427 3,397    
Non-Current Liabilities CZK mil 1,999 2,214 2,452 2,614    
Current Liabilities CZK mil 528 647 714 587    
Net Debt/EBITDA ... 4.26 4.26 8.53    
Net Debt/Equity 4.20 4.93 4.18 3.76    
Cost of Financing % ... 10.8 5.45 -3.09    
cash flow            
Total Cash From Operations CZK mil ... -56.0 292 444    
Total Cash From Investing CZK mil ... -66.3 -128 -439    
Total Cash From Financing CZK mil ... 66.0 -169 -15.3    
Net Change In Cash CZK mil ... -56.3 -4.60 -9.58    
income statement Unit 2010 2011 2012 2013 2014 2015
income statement            
Sales CZK mil ... 3,662 4,038 2,998    
Cost of Goods & Services CZK mil ... 2,817 3,253 2,368    
Gross Profit CZK mil ... 845 784 630    
Staff Cost CZK mil ... 367 375 379    
Other Cost CZK mil ... -74.7 -165 -58.5    
EBITDA CZK mil ... 553 574 309    
Depreciation CZK mil ... 316 302 258    
EBIT CZK mil ... 237 272 50.8    
Financing Cost CZK mil ... 241 132 -78.8    
Extraordinary Cost CZK mil ... < 0.001 0 0    
Pre-Tax Profit CZK mil ... -3.52 140 130    
Tax CZK mil ... -0.596 32.7 24.4    
Minorities CZK mil ... 0 0 0    
Net Profit CZK mil ... -2.93 107 105    
growth rates            
Total Revenue Growth % ... ... 10.2 -25.8    
Operating Cost Growth % ... ... -28.0 52.5    
EBITDA Growth % ... ... 3.82 -46.1    
EBIT Growth % ... ... 14.7 -81.3    
Pre-Tax Profit Growth % ... ... -4,081 -7.60    
Net Profit Growth % ... ... -3,773 -2.12    
ratios            
ROE % ... -0.610 20.2 16.4    
ROCE % ... -0.120 5.02 5.93    
Gross Margin % ... 23.1 19.4 21.0    
EBITDA Margin % ... 15.1 14.2 10.3    
EBIT Margin % ... 6.47 6.73 1.69    
Net Margin % ... -0.080 2.66 3.51    
Cost of Financing % ... 10.8 5.45 -3.09    
Net Debt/EBITDA ... 4.26 4.26 8.53    
balance sheet Unit 2010 2011 2012 2013 2014 2015
balance sheet            
Non-Current Assets CZK mil 2,187 1,936 1,740 1,344    
Property, Plant & Equipment CZK mil 2,180 1,933 1,738 1,337    
Intangible Assets CZK mil 7.11 3.48 1.82 6.37    
Current Assets CZK mil 1,162 1,792 2,261 2,752    
Inventories CZK mil 249 278 277 262    
Receivables CZK mil 575 622 586 428    
Cash & Cash Equivalents CZK mil 74.4 18.1 13.5 8.20    
Total Assets CZK mil 3,354 3,732 4,012 4,099    
Shareholders' Equity CZK mil 481 478 585 701    
Of Which Minority Interest CZK mil 0 0 0 0    
Liabilities CZK mil 2,874 3,254 3,427 3,397    
Non-Current Liabilities CZK mil 1,999 2,214 2,452 2,614    
Long-Term Debt CZK mil 1,797 2,011 2,267 2,497    
Deferred Tax Liabilities CZK mil 202 203 184 117    
Current Liabilities CZK mil 528 647 714 587    
Short-Term Debt CZK mil 295 361 192 148    
Trade Payables CZK mil 430 540 616 471    
Provisions CZK mil 49.2 31.3 69.7 48.4    
Equity And Liabilities CZK mil 3,354 3,732 4,012 4,099    
growth rates            
Total Asset Growth % ... 11.2 7.52 2.15    
Shareholders' Equity Growth % ... -0.673 22.5 19.9    
Net Debt Growth % ... 16.7 3.89 7.83    
Total Debt Growth % ... 13.4 3.67 7.57    
ratios            
Total Debt CZK mil 2,092 2,372 2,459 2,645    
Net Debt CZK mil 2,018 2,354 2,446 2,637    
Working Capital CZK mil 395 360 247 218    
Capital Employed CZK mil 2,581 2,296 1,987 1,562    
Net Debt/Equity 4.20 4.93 4.18 3.76    
Cost of Financing % ... 10.8 5.45 -3.09    
cash flow Unit 2010 2011 2012 2013 2014 2015
cash flow            
Net Profit CZK mil ... -2.93 107 105    
Depreciation CZK mil ... 316 302 258    
Non-Cash Items CZK mil ... -404 -230 52.3    
Change in Working Capital CZK mil ... 34.8 113 28.4    
Total Cash From Operations CZK mil ... -56.0 292 444    
Capital Expenditures CZK mil ... -66.5 -129 -49.4    
Other Investments CZK mil ... 0.224 1.92 -389    
Total Cash From Investing CZK mil ... -66.3 -128 -439    
Issuance Of Debt CZK mil ... 280 87.0 186    
Total Cash From Financing CZK mil ... 66.0 -169 -15.3    
Net Change In Cash CZK mil ... -56.3 -4.60 -9.58    
ratios            
Days Sales Outstanding days ... 61.9 53.0 52.1    
Days Sales Of Inventory days ... 36.1 31.1 40.4    
Days Payable Outstanding days ... 70.0 69.2 72.7    
Cash Conversion Cycle days ... 28.0 14.9 19.8    
Cash Earnings CZK mil ... 313 410 364    
Free Cash Flow CZK mil ... -122 165 5.71    
other data Unit 2010 2011 2012 2013 2014 2015
other data            
ROA % ... -0.083 2.78 2.59    
Gross Margin % ... 23.1 19.4 21.0    
Employees ... 716 721 688    
Cost Per Employee USD per month ... 2,415 2,217 2,349    
Cost Per Employee (Local Currency) CZK per month ... 42,705 43,374 45,949    
Staff Cost (As % Of Total Cost) % ... 10.7 9.97 12.9    
Effective Tax Rate % ... 16.9 23.3 18.8    
Domestic Sales CZK mil ... 1,536 1,850 1,176    
Capital Expenditures (As % of Sales) % ... 1.82 3.21 1.65    
Revenues From Abroad CZK mil ... 2,124 2,262 1,814    
Revenues From Abroad (As % Of Total) % ... 58.0 56.0 60.5    
Sales from Cast Aluminum Wheels for Passenger Cars CZK mil ... 1,736 2,069 1,644    
Sales from Steel Wheels for Passenger Cars CZK mil ... 1,553 1,575 989    
Sales from Steel Wheels for Forklifts CZK mil ... 299 368 338    
Sales to Europe CZK mil ... 1,918 1,972 1,618    
Sales to Asia CZK mil ... 113 168 104    
Sales to America CZK mil ... 92.9 122 92.5    

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Maxion Wheels Czech, s.r.o. is a Czech Republic-based subsidiary of Maxion Wheels Inc., U.S.-based wheel manufacturer. The Company engages in the design, manufacture, and supply of steel and aluminum wheels to the original equipment manufacturers of passenger and commercial vehicles worldwide. The Company offers aluminum light vehicle wheels for passenger cars; steel light vehicle wheels for passenger cars, light trucks, sport utility vehicles, and light commercial vehicles; and steel commercial vehicle wheels for trucks and trailers. It also provides wheels for agriculture and off-road construction applications, including tractors, combines, sprayers, planters, compactors, and graders. The Czech subsidiary is based in Ostrava, the Czech Republic.