Montix

Montix's net profit fell 72.6% yoy to CZK 12.5 mil in 2019

By Helgi Analytics - October 25, 2020

Montix made a net profit of CZK 12.5 mil with revenues of CZK 793 mil in 2019, down by 72.6% and down by 11%, respe...

Montix's employees fell 6.00% yoy to 799 in 2019

By Helgi Analytics - October 25, 2020

Montix employed 799 employees in 2019, down 6% compared to the previous year. Historically, between 2013 and 2019, ...

Montix's price/earnings (P/E) rose 265% yoy to 9.62 in 2019

By Helgi Analytics - October 25, 2020

Montix stock traded at CZK 120 per share at the end 2019 translating into a market capitalization of USD 5.30 mil. Since the end ...

Profit Statement 2017 2018 2019
Sales CZK mil 978 892 793
Gross Profit CZK mil 643 585 508
EBITDA CZK mil 165 138 78.2
EBIT CZK mil 103 68.5 12.0
Financing Cost CZK mil 4.22 5.83 6.23
Pre-Tax Profit CZK mil 96.8 62.5 10.3
Net Profit CZK mil 75.2 45.5 12.5
Balance Sheet 2017 2018 2019
Total Assets CZK mil 657 674 562
Non-Current Assets CZK mil 518 475 332
Current Assets CZK mil 138 198 220
Working Capital CZK mil 55.0 114 94.0
Shareholders' Equity CZK mil 270 273 196
Liabilities CZK mil 387 401 366
Total Debt CZK mil 256 267 277
Net Debt CZK mil 236 262 269
Ratios 2017 2018 2019
ROE % 32.6 16.8 5.32
ROCE % 13.5 7.83 2.46
Gross Margin % 65.7 65.6 64.0
EBITDA Margin % 16.8 15.5 9.85
EBIT Margin % 10.5 7.68 1.51
Net Margin % 7.68 5.11 1.57
Net Debt/EBITDA 1.43 1.90 3.45
Net Debt/Equity % 87.4 95.9 137
Cost of Financing % 1.71 2.23 2.29
Valuation 2017 2018 2019
Market Capitalisation USD mil 5.64 5.34 5.30
Enterprise Value (EV) USD mil 16.7 17.0 17.2
Number Of Shares mil 1.00 1.00 1.00
Share Price CZK 120 120 120
EV/EBITDA 2.38 2.69 4.97
EV/Sales 0.401 0.417 0.489
Price/Earnings (P/E) 1.60 2.63 9.62
Price/Book Value (P/BV) 0.445 0.440 0.612

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overview Unit 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
income statement                          
Sales CZK mil ...   91.6 252 628 943 978            
Gross Profit CZK mil ...   66.6 211 519 665 643            
EBIT CZK mil ...   18.7 40.3 58.4 105 103            
Net Profit CZK mil ...   15.1 29.9 43.4 102 75.2            
                             
ROE % ...   138 93.9 63.7 72.4 32.6            
EBIT Margin % ...   20.4 16.0 9.30 11.1 10.5            
Net Margin % ...   16.5 11.9 6.91 10.8 7.68            
Employees ... ... 261 488 1,233 1,434 968            
balance sheet                          
Total Assets CZK mil ...   31.4 227 471 627 657            
Non-Current Assets CZK mil ...   6.46 168 377 505 518            
Current Assets CZK mil ...   24.5 50.4 93.8 122 138            
                             
Shareholders' Equity CZK mil ...   17.3 46.3 89.7 192 270            
Liabilities CZK mil ...   14.1 181 381 436 387            
Non-Current Liabilities CZK mil ...   0 81.0 173 185 203            
Current Liabilities CZK mil ...   14.1 103 222 200 181            
                             
Net Debt/EBITDA ...   -0.433 2.57 2.34 0.993 1.43            
Net Debt/Equity % ...   -48.1 242 227 80.3 87.4            
Cost of Financing % ... ... ... 1.00 2.26 1.72 1.71            
cash flow                          
Total Cash From Operations CZK mil ... ... 2.69 35.8 70.1 131 115            
Total Cash From Investing CZK mil ... ... -13.7 -11.7 -9.70 -7.70 -5.70            
Total Cash From Financing CZK mil ... ... 10.1 -26.7 -42.1 -127 -110            
Net Change In Cash CZK mil ... ... -0.912 -2.68 18.3 -3.92 -0.070            
valuation                          
Market Capitalisation USD mil     6.05 5.24 4.83 4.68 5.64            
Enterprise Value (EV) USD mil ...   5.63 10.1 13.1 10.7 16.7            
Number Of Shares mil     1.00 1.00 1.00 1.00 1.00            
Share Price CZK     120 120 120 120 120            
Price/Earnings (P/E) ...   7.94 4.01 2.77 1.18 1.60            
Price/Cash Earnings (P/CE) ...   7.67 3.61 1.66 0.790 0.874            
EV/EBITDA ...   5.72 4.96 3.58 1.74 2.38            
Price/Book Value (P/BV) ...   6.93 2.59 1.34 0.626 0.445            
income statement Unit 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
income statement                          
Sales CZK mil ...   91.6 252 628 943 978            
Cost of Goods & Services CZK mil ...   25.0 40.4 109 278 336            
Gross Profit CZK mil ...   66.6 211 519 665 643            
Staff Cost CZK mil ...   44.0 158 404 450 420            
Other Operating Cost (Income) CZK mil ...   3.29 9.30 28.0 60.0 58.3            
EBITDA CZK mil ...   19.2 43.7 87.1 155 165            
Depreciation CZK mil ...   0.519 3.32 28.8 50.0 62.2            
EBIT CZK mil ...   18.7 40.3 58.4 105 103            
Net Financing Cost CZK mil ...   -0.052 3.02 4.43 5.00 5.82            
Financing Cost CZK mil ... ... ... 0.588 3.90 4.00 4.22            
Financing Income CZK mil ... ... ... 0.120 0.032 0.030 0.034   ... ... ... ... ...
Extraordinary Cost CZK mil ...   0 0 0 -11.9 0            
Pre-Tax Profit CZK mil ...   18.8 37.3 53.9 112 96.8            
Tax CZK mil ...   3.66 7.42 10.6 10.0 21.7            
Net Profit CZK mil ...   15.1 29.9 43.4 102 75.2            
Net Profit Avail. to Common CZK mil ...   15.1 29.9 43.4 102 75.2            
growth rates                          
Total Revenue Growth % ... ... 602 175 150 50.2 3.78            
Staff Cost Growth % ... ... 809 259 155 11.5 -6.73            
EBITDA Growth % ... ... 503 127 99.5 77.9 6.33            
EBIT Growth % ... ... 501 115 44.7 79.9 -2.23            
Pre-Tax Profit Growth % ... ... 504 98.7 44.5 107 -13.4            
Net Profit Growth % ... ... 501 97.7 45.0 135 -26.2            
ratios                          
ROE % ...   138 93.9 63.7 72.4 32.6            
ROA % ...   70.3 23.1 12.4 18.6 11.7            
ROCE % ... ... 158 30.4 15.3 22.0 13.5            
Gross Margin % ...   72.7 83.9 82.6 70.5 65.7            
EBITDA Margin % ...   21.0 17.4 13.9 16.4 16.8            
EBIT Margin % ...   20.4 16.0 9.30 11.1 10.5            
Net Margin % ...   16.5 11.9 6.91 10.8 7.68            
Cost of Financing % ... ... ... 1.00 2.26 1.72 1.71            
Net Debt/EBITDA ...   -0.433 2.57 2.34 0.993 1.43            
balance sheet Unit 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
balance sheet                          
Cash & Cash Equivalents CZK mil ...   8.34 5.66 23.9 20.0 19.9            
Receivables CZK mil ...   15.9 44.6 67.8 70.0 71.8            
Inventories CZK mil ...   0.227 0.106 2.12 25.0 46.6            
Other ST Assets CZK mil ...   0 0 0 7.14 0            
Current Assets CZK mil ...   24.5 50.4 93.8 122 138            
Property, Plant & Equipment CZK mil ...   5.99 168 376 440 517            
LT Investments & Receivables CZK mil ...   < 0.001 -0.400 < 0.001 64.1 < 0.001            
Intangible Assets CZK mil ...   0.463 0.767 1.03 1.10 1.27            
Goodwill CZK mil ...   0 0 0 0 0            
Non-Current Assets CZK mil ...   6.46 168 377 505 518            
Total Assets CZK mil ...   31.4 227 471 627 657            
                             
Trade Payables CZK mil ...   3.71 34.9 58.0 62.0 63.5            
Short-Term Debt CZK mil ...   0.009 37.3 62.8 68.0 73.8            
Other ST Liabilities CZK mil ...   10.4 31.1 101 70.0 43.8            
Current Liabilities CZK mil ...   14.1 103 222 200 181            
Long-Term Debt CZK mil ...   0 80.1 165 170 182            
Other LT Liabilities CZK mil ...   0 0.946 7.45 15.0 21.3            
Non-Current Liabilities CZK mil ...   0 81.0 173 185 203            
Liabilities CZK mil ...   14.1 181 381 436 387            
Equity Before Minority Interest CZK mil ...   17.3 46.3 89.7 192 270            
Minority Interest CZK mil ...   0 0 0 0 0            
Equity CZK mil ...   17.3 46.3 89.7 192 270            
growth rates                          
Total Asset Growth % ... ... 171 623 107 33.3 4.79            
Shareholders' Equity Growth % ... ... 284 168 93.6 114 40.9            
Net Debt Growth % ... ... 8.83 -1,446 81.9 -24.6 53.3            
Total Debt Growth % ... ... -99.4 1,304,640 94.1 4.42 7.47            
ratios                          
Total Debt CZK mil ...   0.009 117 228 238 256            
Net Debt CZK mil ...   -8.33 112 204 154 236            
Working Capital CZK mil ...   12.4 9.88 11.9 33.0 55.0            
Capital Employed CZK mil ...   18.9 178 388 538 573            
Net Debt/Equity % ...   -48.1 242 227 80.3 87.4            
Current Ratio ...   1.74 0.488 0.423 0.611 0.764            
Quick Ratio ...   1.72 0.487 0.414 0.450 0.506            
cash flow Unit 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
cash flow                          
Net Profit CZK mil ...   15.1 29.9 43.4 102 75.2            
Depreciation CZK mil ...   0.519 3.32 28.8 50.0 62.2            
Non-Cash Items CZK mil ... ... 0 < -0.001 < 0.001 0 0            
Change in Working Capital CZK mil ... ... -13.0 2.55 -2.04 -21.1 -22.0            
Total Cash From Operations CZK mil ... ... 2.69 35.8 70.1 131 115            
                             
Capital Expenditures CZK mil ... ... -9.70 -8.70 -7.70 -6.70 -5.70            
Other Investing Activities CZK mil ... ... -4.00 -3.00 -2.00 -1.00 0            
Total Cash From Investing CZK mil ... ... -13.7 -11.7 -9.70 -7.70 -5.70            
Issuance Of Shares CZK mil ... ... -4.00 -3.00 -2.00 -1.00 0            
Issuance Of Debt CZK mil ... ... -1.59 117 110 10.1 17.8            
Total Cash From Financing CZK mil ... ... 10.1 -26.7 -42.1 -127 -110            
Net Change In Cash CZK mil ... ... -0.912 -2.68 18.3 -3.92 -0.070            
ratios                          
Days Sales Outstanding days ...   63.4 64.7 39.4 27.1 26.8            
Days Sales Of Inventory days ...   3.31 0.958 7.08 32.8 50.7            
Days Payable Outstanding days ...   54.1 315 194 81.5 69.0            
Cash Conversion Cycle days ...   12.6 -249 -148 -21.5 8.47            
Cash Earnings CZK mil ...   15.6 33.2 72.1 152 137            
Free Cash Flow CZK mil ... ... -11.0 24.1 60.4 123 110            
Capital Expenditures (As % of Sales) % ... ... 10.6 3.46 1.23 0.711 0.583            
other ratios Unit 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
                           
Employees ... ... 261 488 1,233 1,434 968            
Cost Per Employee USD per month ... ... 719 1,264 1,143 1,036 1,540            
Cost Per Employee (Local Currency) CZK per month ... ... 14,058 27,011 27,271 26,151 36,134            
Staff Cost (As % of Sales) % ...   48.1 62.9 64.3 47.7 42.9            
Effective Tax Rate % ...   19.5 19.9 19.6 8.94 22.4            
Total Revenue Growth (5-year average) % ... ... ... ... ... ... 137            
Total Revenue Growth (10-year average) % ... ... ... ... ... ... ... ... ... ... ...    
valuation Unit 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
                           
Market Capitalisation USD mil     6.05 5.24 4.83 4.68 5.64            
Enterprise Value (EV) USD mil ...   5.63 10.1 13.1 10.7 16.7            
Number Of Shares mil     1.00 1.00 1.00 1.00 1.00            
Share Price CZK     120 120 120 120 120            
EV/EBITDA ...   5.72 4.96 3.58 1.74 2.38            
Price/Earnings (P/E) ...   7.94 4.01 2.77 1.18 1.60            
Price/Cash Earnings (P/CE) ...   7.67 3.61 1.66 0.790 0.874            
P/FCF ... ... -10.9 4.99 1.99 0.975 1.09            
Price/Book Value (P/BV) ...   6.93 2.59 1.34 0.626 0.445            
Free Cash Flow Yield % ... ... -9.30 21.5 52.3 104 82.9            
Earnings Per Share (EPS) CZK ...   15.1 29.9 43.4 102 75.2            
Cash Earnings Per Share CZK ...   15.6 33.2 72.1 152 137            
Free Cash Flow Per Share CZK ... ... -11.0 24.1 60.4 123 110            
Book Value Per Share CZK ...   17.3 46.3 89.7 192 270            
EV/Sales ...   1.20 0.861 0.496 0.286 0.401            
EV/EBIT ...   5.88 5.37 5.34 2.57 3.82            
EV/Free Cash Flow ... ... -10.0 9.00 5.16 2.19 3.58            
EV/Capital Employed ...   5.91 1.30 0.834 0.509 0.621            
Earnings Per Share Growth % ... ... 501 97.7 45.0 135 -26.2            
Cash Earnings Per Share Growth % ... ... 504 112 117 111 -9.59            
Book Value Per Share Growth % ... ... 284 168 93.6 114 40.9            

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Montix's Net Margin fell 69.2% yoy to 1.57% in 2019

By Helgi Analytics - October 25, 2020

Montix made a net profit of CZK 12.5 mil with revenues of CZK 793 mil in 2019, down by 72.6% and down by 11.0%, respectively, compared to the previous year. This translates into a net margin of 1.57%. Historically, between 2012 and 2019, the firm’...

Montix's ROCE fell 68.6% yoy to 2.46% in 2019

By Helgi Analytics - October 25, 2020

Montix made a net profit of CZK 12.5 mil in 2019, down 72.6% compared to the previous year. Historically, between 2012 and 2019, the company's net profit reached a high of CZK 102 mil in 2016 and a low of CZK 2.52 mil in 2012. The result implies a return ...

Montix's Net Debt/EBITDA rose 81.9% yoy to 3.45 in 2019

By Helgi Analytics - October 25, 2020

Montix's net debt stood at CZK 269 mil and accounted for 137% of equity at the end of 2019. The ratio is up 41.5 pp compared to the previous year. Historically, the firm’s net debt to equity reached a high of 242% in 2014 and a low of -170% ...

Montix's Capital Expenditures rose 416% yoy to CZK -77.7 mil in 2019

By Helgi Analytics - October 25, 2020

Montix invested a total of CZK -77.7 mil in 2019, down 416% compared to the previous year. Historically, between 2013 - 2019, the company's investments stood at a high of CZK 24.6 mil in 2018 and a low of CZK -77.7 mil in 2019. As a p...

Montix's P/FCF fell 72.0% yoy to 0.838 in 2019

By Helgi Analytics - October 25, 2020

Montix stock traded at CZK 120 per share at the end 2019 translating into a market capitalization of USD 5.30 mil. Since the end of 2014, the stock has appreciated by 0% representing an annual average growth of 0%. At the end of 2019, the firm traded at ...

Montix's Share Price remain unchanged yoy at CZK 120 in 2019

By Helgi Analytics - October 25, 2020

Montix stock traded at CZK 120 per share at the end 2019 implying a market capitalization of USD 5.30 mil. Since the end of 2014, stock has appreciated by % implying an annual average growth of 0% In absolute terms, the value of the company rose by U...

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Montix a.s. is a Czech-based company involved in manufacturing of thermoplastic injection moldings for customers mainly in automotive sector. It offers casings for headlamps, back lamps, 3rd brake lights, plastic parts for heating and air-conditioning, parts for the ignition harnesses, covers, holders, lids to tanks, etc.; and screwing stations, 3d measuring, aluminum surface treatment, templates and molds, and coordination of the production process for plastic mould injection. The company serves customers worldwide and has production facilities in Mohelnice and Horka na Morave, in the Czech Republic.

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Finance

Montix has been growing its sales by -3.65% a year on average in the last 5 years. EBITDA has fallen on average by 12.5% a year during that time to total of CZK 71.0 mil in 2023, or 9.58% of sales. That’s compared to 9.47% average margin seen in last five years.

The company netted CZK 42.6 mil in 2023 implying ROE of 15.5% and ROCE of 11.1%. Again, the average figures were 9.61% and 5.80%, respectively when looking at the previous 5 years.

Montix’s net debt amounted to CZK 50.3 mil at the end of 2023, or 17.1% of equity. When compared to EBITDA, net debt was 0.709x, down when compared to average of 2.10x seen in the last 5 years.

Valuation

Montix stock traded at CZK 120 per share at the end of 2023 resulting in a market capitalization of USD 5.30 mil. Over the previous five years, stock price grew by 0% or 0% a year on average. The closing price put stock at a 12-month trailing EV/EBITDA of 2.39x and price to earnings (PE) of 2.82x as of 2023.