Novartis Czech Republic

Novartis Czech Republic's Cash & Cash Equivalents fell 100% yoy to CZK 0 mil in 2017

By Helgi Analytics - April 2, 2020

Novartis Czech Republic's total assets reached CZK 1,898 mil at the end of 2017, up 9.89% compared to the previous year. ...

Profit Statement 2015 2016 2017
Sales CZK mil 5,393 6,392 6,312
Gross Profit CZK mil 776 1,182 1,559
EBITDA CZK mil 131 170 138
EBIT CZK mil 111 148 111
Financing Cost CZK mil 5.81 5.38 5.50
Pre-Tax Profit CZK mil 105 142 105
Net Profit CZK mil 82.7 75.6 71.0
Dividends CZK mil 0 0 0
Balance Sheet 2015 2016 2017
Total Assets CZK mil 1,911 1,727 1,898
Non-Current Assets CZK mil 55.3 136 126
Current Assets CZK mil 1,853 1,588 1,770
Working Capital CZK mil 951 1,001 1,242
Shareholders' Equity CZK mil 505 581 652
Liabilities CZK mil 1,406 1,146 1,246
Total Debt CZK mil 0 19.2 51.2
Net Debt CZK mil -1.97 18.0 51.2
Ratios 2015 2016 2017
ROE % 17.8 13.9 11.5
ROCE % 8.58 7.05 5.67
Gross Margin % 14.4 18.5 24.7
EBITDA Margin % 2.42 2.66 2.18
EBIT Margin % 2.05 2.31 1.76
Net Margin % 1.53 1.18 1.12
Net Debt/EBITDA -0.015 0.106 0.371
Net Debt/Equity % -0.390 3.10 7.85
Cost of Financing % 12.1 56.0 15.6
Cash Flow 2015 2016 2017
Total Cash From Operations CZK mil 155 64.0 -16.5
Total Cash From Investing CZK mil -41.3 -103 -16.7
Total Cash From Financing CZK mil 0 0 0
Net Change In Cash CZK mil 114 -38.6 -33.2
Cash Conversion Cycle days 66.1 61.2 79.3
Cash Earnings CZK mil 102 97.9 98.1
Free Cash Flow CZK mil 114 -38.6 -33.2

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summary Unit 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
income statement                                    
Sales CZK mil                       3,962 3,930 4,056 4,686 5,393    
Gross Profit CZK mil                       405 435 500 710 776    
EBIT CZK mil                       56.7 64.0 62.4 97.6 111    
Net Profit CZK mil                       41.7 50.0 52.3 82.2 82.7    
ROE %                       19.2 18.9 16.5 21.6 17.8    
EBIT Margin %                       1.43 1.63 1.54 2.08 2.05    
Net Margin %                       1.05 1.27 1.29 1.75 1.53    
Employees                       248 255 267 276 327    
balance sheet                                    
Total Assets CZK mil                       1,401 1,514 1,507 1,646 1,911    
Non-Current Assets CZK mil                       12.0 23.4 34.3 34.3 55.3    
Current Assets CZK mil                       1,383 1,487 1,469 1,611 1,853    
Shareholders' Equity CZK mil                       238 292 340 423 505    
Liabilities CZK mil                       1,163 1,222 1,167 1,224 1,406    
Non-Current Liabilities CZK mil                       0 0 0 0 0    
Current Liabilities CZK mil                       1,154 1,205 1,147 1,203 1,380    
Net Debt/EBITDA                       3.22 0.696 -0.064 0.826 -0.015    
Net Debt/Equity %                       83.3 16.7 -1.34 22.0 -0.390    
Cost of Financing % ...                     2.97 10.8 36.9 17.3 12.1    
cash flow                                    
Total Cash From Operations CZK mil                       -113 167 80.7 90.3 155    
Total Cash From Investing CZK mil                       -2.94 -17.3 -19.9 -15.1 -41.3    
Total Cash From Financing CZK mil                       0 0 0 0 0    
Net Change In Cash CZK mil                       -116 150 60.8 75.2 114    
income statement Unit 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
income statement                                    
Sales CZK mil                       3,962 3,930 4,056 4,686 5,393    
Cost of Goods & Services CZK mil                       3,557 3,496 3,556 3,976 4,616    
Gross Profit CZK mil                       405 435 500 710 776    
Staff Cost CZK mil                       310 336 402 569 616    
Other Cost CZK mil                       33.0 28.5 27.3 28.0 29.8    
EBITDA CZK mil                       61.6 69.8 71.6 113 131    
Depreciation CZK mil                       4.96 5.86 9.18 15.3 19.8    
EBIT CZK mil                       56.7 64.0 62.4 97.6 111    
Financing Cost CZK mil                       5.49 14.0 10.2 8.33 5.81    
Extraordinary Cost CZK mil                       0 0 0 0 0    
Pre-Tax Profit CZK mil                       51.2 50.0 52.3 89.2 105    
Tax CZK mil                       9.43 -4.07 3.93 7.01 22.3    
Minorities CZK mil                       0 0 0 0 0    
Net Profit CZK mil                       41.7 50.0 52.3 82.2 82.7    
Dividends CZK mil                       0 0 0 0 0    
growth rates                                    
Total Revenue Growth % ...                     4.72 -0.791 3.20 15.5 15.1    
Operating Cost Growth % ...                     8.43 6.24 17.6 39.1 8.21    
EBITDA Growth % ...                     3.11 13.4 2.54 57.5 15.7    
EBIT Growth % ...                     1.78 12.9 -2.41 56.3 13.5    
Pre-Tax Profit Growth % ...                     -1.98 -2.34 4.60 70.8 17.6    
Net Profit Growth % ...                     0.860 19.7 4.60 57.3 0.548    
ratios                                    
ROE %                       19.2 18.9 16.5 21.6 17.8    
ROCE % ...                     7.85 8.64 5.36 7.06 8.58    
Gross Margin %                       10.2 11.1 12.3 15.1 14.4    
EBITDA Margin %                       1.56 1.78 1.77 2.41 2.42    
EBIT Margin %                       1.43 1.63 1.54 2.08 2.05    
Net Margin %                       1.05 1.27 1.29 1.75 1.53    
Payout Ratio %                       0 0 0 0 0    
Cost of Financing % ...                     2.97 10.8 36.9 17.3 12.1    
Net Debt/EBITDA                       3.22 0.696 -0.064 0.826 -0.015    
balance sheet Unit 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
balance sheet                                    
Non-Current Assets CZK mil                       12.0 23.4 34.3 34.3 55.3    
Property, Plant & Equipment CZK mil                       12.0 23.4 34.3 34.3 55.3    
Intangible Assets CZK mil                       0 0 0 0 0.708    
Current Assets CZK mil                       1,383 1,487 1,469 1,611 1,853    
Inventories CZK mil                       787 723 846 865 1,051    
Receivables CZK mil                       590 757 1,459 743 799    
Cash & Cash Equivalents CZK mil                       6.37 6.57 4.57 2.88 1.97    
Total Assets CZK mil                       1,401 1,514 1,507 1,646 1,911    
Shareholders' Equity CZK mil                       238 292 340 423 505    
Of Which Minority Interest CZK mil                       0 0 0 0 0    
Liabilities CZK mil                       1,163 1,222 1,167 1,224 1,406    
Non-Current Liabilities CZK mil                       0 0 0 0 0    
Long-Term Debt CZK mil                       0 0 0 0 0    
Deferred Tax Liabilities CZK mil                       0 0 0 0 0    
Current Liabilities CZK mil                       1,154 1,205 1,147 1,203 1,380    
Short-Term Debt CZK mil                       205 55.2 0 96.0 0    
Trade Payables CZK mil                       773 963 931 722 899    
Provisions CZK mil                       8.56 11.9 13.4 18.6 25.9    
Equity And Liabilities CZK mil                       1,401 1,514 1,507 1,646 1,911    
growth rates                                    
Total Asset Growth % ...                     12.2 8.05 -0.432 9.23 16.1    
Shareholders' Equity Growth % ...                     21.3 22.7 16.5 24.2 19.6    
Net Debt Growth % ...                     141 -75.5 -109 -2,141 -102    
Total Debt Growth % ...         ...           24.4 -73.0 -100 ... -100 ...  
ratios                                    
Total Debt CZK mil                       205 55.2 0 96.0 0    
Net Debt CZK mil                       198 48.6 -4.57 93.2 -1.97    
Working Capital CZK mil                       604 517 1,375 886 951    
Capital Employed CZK mil                       616 540 1,409 921 1,007    
Net Debt/Equity %                       83.3 16.7 -1.34 22.0 -0.390    
Cost of Financing % ...                     2.97 10.8 36.9 17.3 12.1    
cash flow Unit 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
cash flow                                    
Net Profit CZK mil                       41.7 50.0 52.3 82.2 82.7    
Depreciation CZK mil                       4.96 5.86 9.18 15.3 19.8    
Non-Cash Items CZK mil ...                     11.5 23.5 877 -495 117    
Change in Working Capital CZK mil ...                     -172 87.7 -858 488 -64.9    
Total Cash From Operations CZK mil                       -113 167 80.7 90.3 155    
Capital Expenditures CZK mil                       -3.06 -17.3 -20.2 -15.3 -41.6    
Other Investments CZK mil                       0.121 0.025 0.280 0.225 0.306    
Total Cash From Investing CZK mil                       -2.94 -17.3 -19.9 -15.1 -41.3    
Dividends Paid CZK mil                       0 0 0 0 0    
Issuance Of Shares CZK mil                       0 0 0 0 0    
Issuance Of Debt CZK mil ...                     40.2 -150 -55.2 96.0 -96.0    
Total Cash From Financing CZK mil                       0 0 0 0 0    
Net Change In Cash CZK mil                       -116 150 60.8 75.2 114    
ratios                                    
Days Sales Outstanding days                       54.4 70.3 131 57.9 54.1    
Days Sales Of Inventory days                       80.7 75.5 86.9 79.4 83.1    
Days Payable Outstanding days                       79.3 101 95.5 66.3 71.1    
Cash Conversion Cycle days                       55.8 45.2 123 71.0 66.1    
Cash Earnings CZK mil                       46.7 55.8 61.4 97.5 102    
Free Cash Flow CZK mil                       -116 150 60.8 75.2 114    
other data Unit 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
other data                                    
ROA %                       3.15 3.43 3.46 5.22 4.65    
Gross Margin %                       10.2 11.1 12.3 15.1 14.4    
Employees                       248 255 267 276 327    
Cost Per Employee USD per month                       5,894 5,617 6,405 8,034 6,576    
Cost Per Employee (Local Currency) CZK per month                       104,246 109,862 125,322 171,709 156,955    
Staff Cost (As % Of Total Cost) %                       7.94 8.70 10.1 12.4 11.7    
Effective Tax Rate %                       18.4 -8.15 7.52 7.86 21.2    
Domestic Sales CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... 3,035 3,486    
Capital Expenditures (As % of Sales) %                       0.077 0.440 0.497 0.327 0.771    
Revenues From Abroad CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... 1,651 1,906    
Revenues From Abroad (As % Of Total) % ... ... ... ... ... ... ... ... ... ... ... ... ... ... 35.2 35.3    

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Finance

Novartis Czech Republic has been growing its sales by a year on average in the last 5 years. EBITDA has grown on average by 14.6% a year during that time to total of CZK 138 mil in 2017, or 2.18% of sales. That’s compared to 2.29% average margin seen in last five years.

The company netted CZK 71.0 mil in 2017 implying ROE of 11.5% and ROCE of 5.67%. Again, the average figures were 16.3% and 6.74%, respectively when looking at the previous 5 years.

Novartis Czech Republic’s net debt amounted to CZK 51.2 mil at the end of 2017, or 7.85% of equity. When compared to EBITDA, net debt was 0.371x, up when compared to average of 0.245x seen in the last 5 years.