By Helgi Analytics - April 2, 2020
Mitas's total assets reached CZK 7,606 mil at the end of 2015, up 7.73% compared to the previous year. Current ass...
| Profit Statement | 2013 | 2014 | 2015 | |
| Sales | CZK mil | 8,922 | 8,776 | 7,975 |
| Gross Profit | CZK mil | 2,516 | 2,918 | 2,780 |
| EBITDA | CZK mil | 1,421 | 1,702 | 1,501 |
| EBIT | CZK mil | 1,163 | 1,486 | 1,308 |
| Financing Cost | CZK mil | 68.8 | 129 | 116 |
| Pre-Tax Profit | CZK mil | 1,095 | 1,357 | 1,191 |
| Net Profit | CZK mil | 893 | 1,108 | 953 |
| Dividends | CZK mil | 300 | 400 | ... |
| Balance Sheet | 2013 | 2014 | 2015 | |
| Total Assets | CZK mil | 7,029 | 7,061 | 7,606 |
| Non-Current Assets | CZK mil | 3,646 | 3,880 | 4,052 |
| Current Assets | CZK mil | 3,357 | 3,164 | 3,545 |
| Working Capital | CZK mil | 1,434 | 1,513 | 1,435 |
| Shareholders' Equity | CZK mil | 4,359 | 5,312 | 5,964 |
| Liabilities | CZK mil | 2,670 | 1,748 | 1,642 |
| Total Debt | CZK mil | 522 | 9.27 | 13.1 |
| Net Debt | CZK mil | 510 | -1.09 | -0.225 |
| Ratios | 2013 | 2014 | 2015 | |
| ROE | % | 20.5 | 22.9 | 16.9 |
| ROCE | % | ... | 21.2 | 17.5 |
| Gross Margin | % | 28.2 | 33.2 | 34.9 |
| EBITDA Margin | % | 15.9 | 19.4 | 18.8 |
| EBIT Margin | % | 13.0 | 16.9 | 16.4 |
| Net Margin | % | 10.0 | 12.6 | 11.9 |
| Net Debt/EBITDA | 0.359 | < -0.001 | < -0.001 | |
| Net Debt/Equity | 0.117 | < -0.001 | < -0.001 | |
| Cost of Financing | % | ... | 48.5 | 1,041 |
| Cash Flow | 2013 | 2014 | 2015 | |
| Total Cash From Operations | CZK mil | 875 | 825 | 1,212 |
| Total Cash From Investing | CZK mil | -868 | -527 | -809 |
| Total Cash From Financing | CZK mil | 0 | 300 | 400 |
| Net Change In Cash | CZK mil | 7.00 | 598 | 803 |
| Cash Conversion Cycle | days | 55.6 | 66.7 | 68.8 |
| Cash Earnings | CZK mil | 1,150 | 1,325 | 1,146 |
| Free Cash Flow | CZK mil | 7.00 | 298 | 403 |
Get all company financials in excel:
| summary | Unit | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 |
| income statement | |||||||||||||
| Sales | CZK mil | 5,670 | 7,374 | 9,906 | ... | 8,922 | |||||||
| Gross Profit | CZK mil | 1,703 | 1,659 | 1,731 | ... | 2,516 | |||||||
| EBIT | CZK mil | 395 | 290 | 289 | ... | 1,163 | |||||||
| Net Profit | CZK mil | 164 | 83.0 | 182 | ... | 893 | |||||||
| ROE | % | 6.36 | 3.05 | 6.79 | ... | 20.5 | |||||||
| EBIT Margin | % | 6.97 | 3.93 | 2.92 | ... | 13.0 | |||||||
| Net Margin | % | 2.89 | 1.13 | 1.84 | ... | 10.0 | |||||||
| Employees | ... | ... | 2,177 | 2,243 | 2,476 | ... | 2,433 | ||||||
| balance sheet | |||||||||||||
| Total Assets | CZK mil | 5,656 | 5,871 | 6,482 | ... | 7,029 | |||||||
| Non-Current Assets | CZK mil | 2,667 | 2,669 | 2,736 | ... | 3,646 | |||||||
| Current Assets | CZK mil | 2,923 | 3,182 | 3,734 | ... | 3,357 | |||||||
| Shareholders' Equity | CZK mil | 2,644 | 2,793 | 2,567 | ... | 4,359 | |||||||
| Liabilities | CZK mil | 3,012 | 3,078 | 3,915 | ... | 2,670 | |||||||
| Non-Current Liabilities | CZK mil | 115 | 108 | 102 | ... | 80.7 | |||||||
| Current Liabilities | CZK mil | 1,119 | 1,637 | 2,057 | ... | 1,640 | |||||||
| Net Debt/EBITDA | 1.73 | 2.10 | 3.16 | ... | 0.359 | ||||||||
| Net Debt/Equity | 0.567 | 0.541 | 0.738 | ... | 0.117 | ||||||||
| Cost of Financing | % | ... | 12.9 | 13.5 | 5.83 | ... | ... | ||||||
| cash flow | |||||||||||||
| Total Cash From Operations | CZK mil | ... | ... | ... | ... | 2,588 | 95.9 | 373 | ... | 875 | |||
| Total Cash From Investing | CZK mil | ... | ... | ... | ... | -330 | 60.8 | -144 | ... | -868 | |||
| Total Cash From Financing | CZK mil | ... | ... | ... | ... | -2,230 | -155 | -225 | ... | 0 | |||
| Net Change In Cash | CZK mil | ... | ... | ... | ... | 28.6 | 1.91 | 3.36 | ... | 7.00 |
| income statement | Unit | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 |
| income statement | |||||||||||||
| Sales | CZK mil | 5,670 | 7,374 | 9,906 | ... | 8,922 | |||||||
| Cost of Goods & Services | CZK mil | 3,967 | 5,715 | 8,175 | ... | 6,406 | |||||||
| Gross Profit | CZK mil | 1,703 | 1,659 | 1,731 | ... | 2,516 | |||||||
| Staff Cost | CZK mil | 853 | 942 | 1,088 | ... | 1,074 | |||||||
| Other Cost | CZK mil | -18.0 | -1.00 | 44.0 | ... | 21.6 | |||||||
| EBITDA | CZK mil | 868 | 718 | 599 | ... | 1,421 | |||||||
| Depreciation | CZK mil | 473 | 428 | 310 | ... | 257 | |||||||
| EBIT | CZK mil | 395 | 290 | 289 | ... | 1,163 | |||||||
| Financing Cost | CZK mil | 230 | 205 | 100 | ... | 68.8 | |||||||
| Extraordinary Cost | CZK mil | 0 | 1.00 | -1.00 | ... | 0 | |||||||
| Pre-Tax Profit | CZK mil | 165 | 84.0 | 190 | ... | 1,095 | |||||||
| Tax | CZK mil | 0 | 1.00 | 8.00 | ... | 202 | |||||||
| Minorities | CZK mil | 0 | 0 | 0 | ... | 0 | |||||||
| Net Profit | CZK mil | 164 | 83.0 | 182 | ... | 893 | |||||||
| Dividends | CZK mil | ... | ... | ... | 155 | ... | ... | ... | 300 | ... | |||
| growth rates | |||||||||||||
| Total Revenue Growth | % | ... | -24.0 | 30.1 | 34.3 | ... | ... | ||||||
| Operating Cost Growth | % | ... | -7.63 | 12.7 | 20.3 | ... | ... | ||||||
| EBITDA Growth | % | ... | 15.9 | -17.3 | -16.6 | ... | ... | ||||||
| EBIT Growth | % | ... | 32.6 | -26.6 | -0.345 | ... | ... | ||||||
| Pre-Tax Profit Growth | % | ... | -13.2 | -49.1 | 126 | ... | ... | ||||||
| Net Profit Growth | % | ... | -20.8 | -49.4 | 119 | ... | ... | ||||||
| ratios | |||||||||||||
| ROE | % | 6.36 | 3.05 | 6.79 | ... | 20.5 | |||||||
| ROCE | % | ... | 4.26 | 2.20 | 4.45 | ... | ... | ||||||
| Gross Margin | % | 30.0 | 22.5 | 17.5 | ... | 28.2 | |||||||
| EBITDA Margin | % | 15.3 | 9.74 | 6.05 | ... | 15.9 | |||||||
| EBIT Margin | % | 6.97 | 3.93 | 2.92 | ... | 13.0 | |||||||
| Net Margin | % | 2.89 | 1.13 | 1.84 | ... | 10.0 | |||||||
| Payout Ratio | % | ... | ... | ... | 94.5 | ... | ... | ... | 33.6 | ... | |||
| Cost of Financing | % | ... | 12.9 | 13.5 | 5.83 | ... | ... | ||||||
| Net Debt/EBITDA | 1.73 | 2.10 | 3.16 | ... | 0.359 |
| balance sheet | Unit | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 |
| balance sheet | |||||||||||||
| Non-Current Assets | CZK mil | 2,667 | 2,669 | 2,736 | ... | 3,646 | |||||||
| Property, Plant & Equipment | CZK mil | 2,400 | 2,214 | 2,034 | ... | 2,606 | |||||||
| Intangible Assets | CZK mil | 88.5 | 7.33 | 12.3 | ... | 3.29 | |||||||
| Current Assets | CZK mil | 2,923 | 3,182 | 3,734 | ... | 3,357 | |||||||
| Inventories | CZK mil | 803 | 785 | 930 | ... | 1,028 | |||||||
| Receivables | CZK mil | 1,125 | 1,552 | 2,099 | ... | 1,620 | |||||||
| Cash & Cash Equivalents | CZK mil | 9.91 | 13.3 | 15.2 | ... | 12.4 | |||||||
| Total Assets | CZK mil | 5,656 | 5,871 | 6,482 | ... | 7,029 | |||||||
| Shareholders' Equity | CZK mil | 2,644 | 2,793 | 2,567 | ... | 4,359 | |||||||
| Of Which Minority Interest | CZK mil | 0 | 0 | 0 | ... | 0 | |||||||
| Liabilities | CZK mil | 3,012 | 3,078 | 3,915 | ... | 2,670 | |||||||
| Non-Current Liabilities | CZK mil | 115 | 108 | 102 | ... | 80.7 | |||||||
| Long-Term Debt | CZK mil | 0 | 0 | 0 | ... | 0 | |||||||
| Deferred Tax Liabilities | CZK mil | 115 | 108 | 102 | ... | 80.7 | |||||||
| Current Liabilities | CZK mil | 1,119 | 1,637 | 2,057 | ... | 1,640 | |||||||
| Short-Term Debt | CZK mil | 1,509 | 1,524 | 1,910 | ... | 522 | |||||||
| Trade Payables | CZK mil | 843 | 1,201 | 1,384 | ... | 1,215 | |||||||
| Provisions | CZK mil | 14.7 | 11.0 | 17.2 | ... | 369 | |||||||
| Equity And Liabilities | CZK mil | 5,656 | 5,871 | 6,482 | ... | 7,029 | |||||||
| growth rates | |||||||||||||
| Total Asset Growth | % | ... | -11.5 | 3.81 | 10.4 | ... | ... | ||||||
| Shareholders' Equity Growth | % | ... | 5.17 | 5.63 | -8.07 | ... | ... | ||||||
| Net Debt Growth | % | ... | -24.3 | 0.791 | 25.4 | ... | ... | ||||||
| Total Debt Growth | % | ... | -26.9 | 1.01 | 25.3 | ... | ... | ||||||
| ratios | |||||||||||||
| Total Debt | CZK mil | 1,509 | 1,524 | 1,910 | ... | 522 | |||||||
| Net Debt | CZK mil | 1,499 | 1,511 | 1,894 | ... | 510 | |||||||
| Working Capital | CZK mil | 1,086 | 1,137 | 1,644 | ... | 1,434 | |||||||
| Capital Employed | CZK mil | 3,752 | 3,806 | 4,380 | ... | 5,079 | |||||||
| Net Debt/Equity | 0.567 | 0.541 | 0.738 | ... | 0.117 | ||||||||
| Cost of Financing | % | ... | 12.9 | 13.5 | 5.83 | ... | ... |
| cash flow | Unit | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 |
| cash flow | |||||||||||||
| Net Profit | CZK mil | 164 | 83.0 | 182 | ... | 893 | |||||||
| Depreciation | CZK mil | 473 | 428 | 310 | ... | 257 | |||||||
| Non-Cash Items | CZK mil | ... | ... | ... | ... | ... | 1,961 | -364 | 388 | ... | ... | ||
| Change in Working Capital | CZK mil | ... | ... | ... | ... | ... | -9.38 | -51.2 | -508 | ... | ... | ||
| Total Cash From Operations | CZK mil | ... | ... | ... | ... | 2,588 | 95.9 | 373 | ... | 875 | |||
| Capital Expenditures | CZK mil | ... | ... | ... | ... | -269 | -349 | -376 | ... | -945 | |||
| Other Investments | CZK mil | ... | ... | ... | ... | -60.8 | 410 | 232 | ... | 76.9 | |||
| Total Cash From Investing | CZK mil | ... | ... | ... | ... | -330 | 60.8 | -144 | ... | -868 | |||
| Dividends Paid | CZK mil | ... | ... | ... | ... | -155 | ... | ... | ... | -300 | ... | ||
| Issuance Of Debt | CZK mil | ... | ... | ... | ... | ... | -556 | 15.2 | 386 | ... | ... | ||
| Total Cash From Financing | CZK mil | ... | ... | ... | ... | -2,230 | -155 | -225 | ... | 0 | |||
| Net Change In Cash | CZK mil | ... | ... | ... | ... | 28.6 | 1.91 | 3.36 | ... | 7.00 | |||
| ratios | |||||||||||||
| Days Sales Outstanding | days | 72.4 | 76.8 | 77.3 | ... | 66.3 | |||||||
| Days Sales Of Inventory | days | 73.9 | 50.1 | 41.5 | ... | 58.6 | |||||||
| Days Payable Outstanding | days | 77.5 | 76.7 | 61.8 | ... | 69.2 | |||||||
| Cash Conversion Cycle | days | 68.8 | 50.3 | 57.0 | ... | 55.6 | |||||||
| Cash Earnings | CZK mil | 637 | 511 | 492 | ... | 1,150 | |||||||
| Free Cash Flow | CZK mil | ... | ... | ... | ... | 2,259 | 157 | 228 | ... | 7.00 |
| other data | Unit | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 |
| other data | |||||||||||||
| ROA | % | 2.72 | 1.44 | 2.95 | ... | 12.7 | |||||||
| Gross Margin | % | 30.0 | 22.5 | 17.5 | ... | 28.2 | |||||||
| Employees | ... | ... | 2,177 | 2,243 | 2,476 | ... | 2,433 | ||||||
| Cost Per Employee | USD per month | ... | ... | 1,713 | 1,831 | 2,070 | ... | 1,880 | |||||
| Cost Per Employee (Local Currency) | CZK per month | ... | ... | 32,652 | 34,998 | 36,618 | ... | 36,786 | |||||
| Staff Cost (As % Of Total Cost) | % | 16.2 | 13.3 | 11.3 | ... | 13.8 | |||||||
| Effective Tax Rate | % | 0 | 1.19 | 4.21 | ... | 18.4 | |||||||
| Domestic Sales | CZK mil | ... | ... | 634 | 989 | 1,228 | ... | 975 | |||||
| Capital Expenditures (As % of Sales) | % | ... | ... | ... | ... | 4.74 | 4.73 | 3.80 | ... | 10.6 | |||
| Revenues From Abroad | CZK mil | ... | ... | 5,125 | 6,351 | 8,564 | ... | 8,060 | |||||
| Revenues From Abroad (As % Of Total) | % | ... | ... | 90.4 | 86.1 | 86.5 | ... | 90.3 |
Get all company financials in excel:
MITAS a.s is a Czech Republic-based producer of agricultural tyres. Mitas manufactures and sells tyres under three brand names: the company’s own Mitas and Cultor, and Continental under licence. In addition, the Company produces and distributes a wide range of Mitas-branded industrial and motorcycle tyres. Mitas is a member of ČGS Holding and operates three production plants in the Czech Republic, one in Serbia and one in the USA, and maintains a global sales and distribution network. The Company was founded in 1933 as a subsidiary of France's Michelin
Mitas has been growing its sales by a year on average in the last 5 years. EBITDA has grown on average by 15.9% a year during that time to total of CZK 1,501 mil in 2015, or 18.8% of sales. That’s compared to 15.0% average margin seen in last five years.
The company netted CZK 953 mil in 2015 implying ROE of 16.9% and ROCE of 17.5%. Again, the average figures were 16.8% and 14.4%, respectively when looking at the previous 5 years.
Mitas’s net debt amounted to CZK -0.225 mil at the end of 2015, or < -0.001 of equity. When compared to EBITDA, net debt was < -0.001x, down when compared to average of 0.880x seen in the last 5 years.
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