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Metsa Tissue

Metsa Tissue's net profit fell 74.6% yoy to EUR 7.67 mil in 2019

By Helgi Analytics - December 7, 2020

Metsa Tissue made a net profit of EUR 7.67 mil in 2019, down 74.6% compared to the previous year. Total sales reached EUR 212 mil, ...

Metsa Tissue's ROCE fell 75.9% yoy to 2.35% in 2019

By Helgi Analytics - December 7, 2020

Metsa Tissue made a net profit of EUR 7.67 mil in 2019, down 74.6% compared to the previous year. Historically, between 2013...

Profit Statement 2017 2018 2019
Sales EUR mil 207 214 212
Gross Profit EUR mil 82.8 76.2 84.3
Pre-Tax Profit EUR mil 28.7 26.7 2.98
Net Profit EUR mil 30.0 30.3 7.67
Balance Sheet 2017 2018 2019
Total Assets EUR mil 678 700 670
Non-Current Assets EUR mil 303 300 336
Current Assets EUR mil 180 44.6 42.7
Working Capital EUR mil 8.90 7.61 9.12
Shareholders' Equity EUR mil 248 269 277
Liabilities EUR mil 430 430 393
Total Debt EUR mil 279 277 264
Net Debt EUR mil -132 1.88 -37.9
Ratios 2017 2018 2019
ROE % 12.6 11.7 2.81
ROCE % 7.63 9.76 2.35
Gross Margin % 40.0 35.6 39.8
Net Margin % 14.5 14.1 3.62
Net Debt/Equity % -53.0 0.699 -13.7
Cash Flow 2017 2018 2019
Cash Conversion Cycle days 1.83 3.54 6.02

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overview Unit 2013 2014 2015 2016 2017 2018 2019
income statement              
Sales EUR mil 181 193 199 194 207    
Gross Profit EUR mil 58.9 65.4 78.5 66.1 82.8    
Net Profit EUR mil -2.06 16.1 13.9 12.9 30.0    
                 
ROE % -0.990 7.57 6.29 5.71 12.6    
Net Margin % -1.14 8.33 6.98 6.66 14.5    
balance sheet              
Total Assets EUR mil 768 756 749 732 678    
Non-Current Assets EUR mil 321 504 468 464 303    
Current Assets EUR mil 39.7 38.8 37.3 35.5 180    
                 
Shareholders' Equity EUR mil 208 218 224 228 248    
Liabilities EUR mil 561 538 525 504 430    
Non-Current Liabilities EUR mil 136 132 127 123 120    
Current Liabilities EUR mil 425 407 398 381 310    
Net Debt/Equity % 55.3 -37.8 -29.6 -33.1 -53.0    
income statement Unit 2013 2014 2015 2016 2017 2018 2019
income statement              
Sales EUR mil 181 193 199 194 207    
Cost of Goods & Services EUR mil 122 128 120 127 124    
Gross Profit EUR mil 58.9 65.4 78.5 66.1 82.8    
Pre-Tax Profit EUR mil -2.09 16.3 13.9 12.9 28.7    
Tax EUR mil -0.031 0.156 0 0 -1.28    
Net Profit EUR mil -2.06 16.1 13.9 12.9 30.0    
Net Profit Avail. to Common EUR mil -2.06 16.1 13.9 12.9 30.0    
growth rates              
Total Revenue Growth % ... 6.75 2.96 -2.72 6.94    
Pre-Tax Profit Growth % ... -878 -14.6 -7.08 123    
Net Profit Growth % ... -882 -13.8 -7.08 133    
ratios              
ROE % -0.990 7.57 6.29 5.71 12.6    
ROA % -0.268 2.11 1.84 1.74 4.26    
ROCE % ... 3.72 2.76 2.70 7.63    
Gross Margin % 32.5 33.9 39.5 34.2 40.0    
Net Margin % -1.14 8.33 6.98 6.66 14.5    
balance sheet Unit 2013 2014 2015 2016 2017 2018 2019
balance sheet              
Cash & Cash Equivalents EUR mil 6.22 4.43 2.85 2.87 140    
Receivables EUR mil 14.6 15.7 16.9 15.1 20.7    
Inventories EUR mil 18.9 18.6 17.6 17.5 19.3    
Other ST Assets EUR mil 0 0 0 0 0    
Current Assets EUR mil 39.7 38.8 37.3 35.5 180    
Property, Plant & Equipment EUR mil 33.8 31.9 29.2 31.4 32.1    
LT Investments & Receivables EUR mil 288 472 438 432 271    
Intangible Assets EUR mil 0 0 0 0 0    
Goodwill EUR mil 0 0 0 0 0    
Non-Current Assets EUR mil 321 504 468 464 303    
Total Assets EUR mil 768 756 749 732 678    
                 
Trade Payables EUR mil 15.8 12.2 23.2 21.4 31.1    
Short-Term Debt EUR mil 409 394 375 360 279    
Other ST Liabilities EUR mil 0 0 0 0 0    
Current Liabilities EUR mil 425 407 398 381 310    
Long-Term Debt EUR mil 0 0 0 0 0    
Other LT Liabilities EUR mil 136 132 127 123 120    
Non-Current Liabilities EUR mil 136 132 127 123 120    
Liabilities EUR mil 561 538 525 504 430    
Equity Before Minority Interest EUR mil 208 218 224 228 248    
Minority Interest EUR mil 0 0 0 0 0    
Equity EUR mil 208 218 224 228 248    
growth rates              
Total Asset Growth % ... -1.62 -0.873 -2.35 -7.31    
Shareholders' Equity Growth % ... 4.67 2.96 1.58 9.08    
Net Debt Growth % ... -172 -19.4 13.6 74.7    
Total Debt Growth % ... -3.54 -4.96 -4.03 -22.3    
ratios              
Total Debt EUR mil 409 394 375 360 279    
Net Debt EUR mil 115 -82.3 -66.3 -75.3 -132    
Working Capital EUR mil 17.7 22.2 11.2 11.3 8.90    
Capital Employed EUR mil 339 526 479 475 312    
Net Debt/Equity % 55.3 -37.8 -29.6 -33.1 -53.0    
Current Ratio 0.093 0.095 0.094 0.093 0.581    
Quick Ratio 0.049 0.049 0.050 0.047 0.518    
cash flow Unit 2013 2014 2015 2016 2017 2018 2019
cash flow              
Net Profit EUR mil -2.06 16.1 13.9 12.9 30.0    
ratios              
Days Sales Outstanding days 29.4 29.6 30.9 28.6 36.5    
Days Sales Of Inventory days 56.4 53.2 53.3 50.1 56.6    
Days Payable Outstanding days 47.1 34.7 70.3 61.2 91.2    
Cash Conversion Cycle days 38.7 48.2 13.9 17.5 1.83    
other ratios Unit 2013 2014 2015 2016 2017 2018 2019
               
Effective Tax Rate % 1.48 0.960 0 0 -4.46    
Total Revenue Growth (5-year average) % ... ... ... ... ...    

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Finance

Metsa Tissue has been growing its sales by 1.88% a year on average in the last 5 years. EBITDA has grown by 0% during that time to total of in 2019, or of sales. That’s compared to

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NAN% average margin seen in last five years.

The company netted EUR 7.67 mil in 2019 implying ROE of 2.81% and ROCE of 2.35%. Again, the average figures were 7.82% and 5.04%, respectively when looking at the previous 5 years.

Metsa Tissue’s net debt amounted to EUR -37.9 mil at the end of 2019, or -13.7% of equity. When compared to EBITDA, net debt was x,

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up when compared to average of NANx seen in the last 5 years.