OMV Czech Republic

OMV CR's Cash & Cash Equivalents rose 1,518% yoy to CZK 969 mil in 2015

By Helgi Analytics - April 2, 2020

OMV Czech Republic's total assets reached CZK 4,700 mil at the end of 2015, down 4.29% compared to the previous year. ...

Profit Statement 2013 2014 2015
Sales CZK mil 22,597 23,604 19,646
Gross Profit CZK mil 418 595 722
EBITDA CZK mil 226 368 479
EBIT CZK mil -213 9.42 149
Financing Cost CZK mil 31.7 23.9 11.3
Pre-Tax Profit CZK mil -244 -14.5 137
Net Profit CZK mil -213 -3.66 178
Balance Sheet 2013 2014 2015
Total Assets CZK mil 6,058 4,910 4,700
Non-Current Assets CZK mil 2,799 2,363 1,978
Current Assets CZK mil 3,181 2,477 2,668
Working Capital CZK mil 496 569 447
Shareholders' Equity CZK mil 3,686 2,882 3,060
Liabilities CZK mil 2,372 2,028 1,639
Total Debt CZK mil 64.5 49.6 49.0
Net Debt CZK mil -5.68 -10.3 -920
Ratios 2013 2014 2015
ROE % -5.61 -0.111 5.99
ROCE % -5.79 -0.117 6.64
Gross Margin % 1.85 2.52 3.68
EBITDA Margin % 1.00 1.56 2.44
EBIT Margin % -0.941 0.040 0.758
Net Margin % -0.942 -0.015 0.906
Net Debt/EBITDA -0.025 -0.028 -1.92
Net Debt/Equity -0.002 -0.004 -0.301
Cost of Financing % 52.1 42.0 23.0
Cash Flow 2013 2014 2015
Total Cash From Operations CZK mil 75.3 830 1,012
Total Cash From Investing CZK mil -24.9 -40.5 -103
Total Cash From Financing CZK mil 0 -800 0
Net Change In Cash CZK mil 50.4 -10.3 909
Cash Conversion Cycle days 7.71 8.56 7.93
Cash Earnings CZK mil 226 355 508
Free Cash Flow CZK mil 50.4 790 909

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summary Unit 2007 2008 2009 2010 2011 2012 2013 2014 2015
income statement                  
Sales CZK mil     27,403 28,243 33,881 25,650 22,597    
Gross Profit CZK mil     815 691 423 223 418    
EBIT CZK mil     157 80.4 -56.5 -425 -213    
Net Profit CZK mil     98.8 41.9 -17.8 -448 -213    
ROE %     2.16 0.929 -0.408 -10.9 -5.61    
EBIT Margin %     0.573 0.285 -0.167 -1.66 -0.941    
Net Margin %     0.360 0.148 -0.053 -1.74 -0.942    
Employees     72.0 58.0 44.0 42.0 41.0    
balance sheet                  
Total Assets CZK mil     7,728 7,516 7,122 5,853 6,058    
Non-Current Assets CZK mil     4,392 4,069 3,824 3,280 2,799    
Current Assets CZK mil     3,083 3,284 3,154 2,458 3,181    
Shareholders' Equity CZK mil     4,619 4,404 4,346 3,899 3,686    
Liabilities CZK mil     3,108 3,112 2,776 1,954 2,372    
Non-Current Liabilities CZK mil     0 0 0 0 0    
Current Liabilities CZK mil     2,994 2,952 2,407 1,695 2,098    
Net Debt/EBITDA     -1.02 -0.313 -0.006 1.02 -0.025    
Net Debt/Equity     -0.141 -0.038 < -0.001 0.010 -0.002    
Cost of Financing % ...   17.2 12.0 -8.41 69.1 52.1    
cash flow                  
Total Cash From Operations CZK mil     730 576 140 80.4 75.3    
Total Cash From Investing CZK mil     -161 -804 -401 -69.2 -24.9    
Total Cash From Financing CZK mil     0 -260 -39.8 0 0    
Net Change In Cash CZK mil     569 -487 -301 11.2 50.4    
income statement Unit 2007 2008 2009 2010 2011 2012 2013 2014 2015
income statement                  
Sales CZK mil     27,403 28,243 33,881 25,650 22,597    
Cost of Goods & Services CZK mil     26,589 27,552 33,457 25,428 22,179    
Gross Profit CZK mil     815 691 423 223 418    
Staff Cost CZK mil     102 78.4 54.9 52.4 52.4    
Other Cost CZK mil     76.3 79.7 -8.65 134 139    
EBITDA CZK mil     637 533 377 36.4 226    
Depreciation CZK mil     480 452 434 461 439    
EBIT CZK mil     157 80.4 -56.5 -425 -213    
Financing Cost CZK mil     23.5 17.4 -6.29 21.9 31.7    
Extraordinary Cost CZK mil     0 0 0 0 0    
Pre-Tax Profit CZK mil     133 63.1 -50.2 -447 -244    
Tax CZK mil     34.6 21.1 -32.4 0.968 -31.3    
Minorities CZK mil     0 0 0 0 0    
Net Profit CZK mil     98.8 41.9 -17.8 -448 -213    
growth rates                  
Total Revenue Growth % ...   -19.5 3.07 20.0 -24.3 -11.9    
Operating Cost Growth % ...   40.6 -11.2 -70.8 303 3.06    
EBITDA Growth % ...   -13.9 -16.3 -29.2 -90.4 522    
EBIT Growth % ...   -31.6 -48.7 -170 651 -49.9    
Pre-Tax Profit Growth % ...   -42.4 -52.7 -180 789 -45.3    
Net Profit Growth % ...   -43.4 -57.6 -143 2,409 -52.4    
ratios                  
ROE %     2.16 0.929 -0.408 -10.9 -5.61    
ROCE % ...   2.02 0.918 -0.392 -10.2 -5.79    
Gross Margin %     2.97 2.45 1.25 0.868 1.85    
EBITDA Margin %     2.32 1.89 1.11 0.142 1.00    
EBIT Margin %     0.573 0.285 -0.167 -1.66 -0.941    
Net Margin %     0.360 0.148 -0.053 -1.74 -0.942    
Cost of Financing % ...   17.2 12.0 -8.41 69.1 52.1    
Net Debt/EBITDA     -1.02 -0.313 -0.006 1.02 -0.025    
balance sheet Unit 2007 2008 2009 2010 2011 2012 2013 2014 2015
balance sheet                  
Non-Current Assets CZK mil     4,392 4,069 3,824 3,280 2,799    
Property, Plant & Equipment CZK mil     4,351 4,064 3,808 3,272 2,798    
Intangible Assets CZK mil     0.733 5.72 16.2 8.91 1.24    
Current Assets CZK mil     3,083 3,284 3,154 2,458 3,181    
Inventories CZK mil     408 437 482 467 429    
Receivables CZK mil     1,615 1,638 2,094 1,493 1,496    
Cash & Cash Equivalents CZK mil     797 310 8.61 19.8 70.2    
Total Assets CZK mil     7,728 7,516 7,122 5,853 6,058    
Shareholders' Equity CZK mil     4,619 4,404 4,346 3,899 3,686    
Of Which Minority Interest CZK mil     0 0 0 0 0    
Liabilities CZK mil     3,108 3,112 2,776 1,954 2,372    
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     2,994 2,952 2,407 1,695 2,098    
Short-Term Debt CZK mil     147 143 6.32 57.1 64.5    
Trade Payables CZK mil     1,684 1,741 1,706 1,179 1,429    
Provisions CZK mil     114 154 369 259 272    
Equity And Liabilities CZK mil     7,728 7,516 7,122 5,853 6,058    
growth rates                  
Total Asset Growth % ...   9.10 -2.73 -5.25 -17.8 3.49    
Shareholders' Equity Growth % ...   2.18 -4.66 -1.31 -10.3 -5.46    
Net Debt Growth % ...   540 -74.4 -98.6 -1,729 -115    
Total Debt Growth % ...   15.9 -2.45 -95.6 803 13.0    
ratios                  
Total Debt CZK mil     147 143 6.32 57.1 64.5    
Net Debt CZK mil     -650 -167 -2.29 37.3 -5.68    
Working Capital CZK mil     339 334 871 781 496    
Capital Employed CZK mil     4,731 4,403 4,695 4,062 3,295    
Net Debt/Equity     -0.141 -0.038 < -0.001 0.010 -0.002    
Cost of Financing % ...   17.2 12.0 -8.41 69.1 52.1    
cash flow Unit 2007 2008 2009 2010 2011 2012 2013 2014 2015
cash flow                  
Net Profit CZK mil     98.8 41.9 -17.8 -448 -213    
Depreciation CZK mil     480 452 434 461 439    
Non-Cash Items CZK mil ...   162 76.3 261 -22.8 -436    
Change in Working Capital CZK mil ...   -11.1 5.31 -537 89.7 285    
Total Cash From Operations CZK mil     730 576 140 80.4 75.3    
Capital Expenditures CZK mil     -163 -120 -410 -69.2 -24.9    
Other Investments CZK mil     2.09 -684 8.45 0 0    
Total Cash From Investing CZK mil     -161 -804 -401 -69.2 -24.9    
Issuance Of Debt CZK mil ...   20.1 -3.59 -137 50.8 7.44    
Total Cash From Financing CZK mil     0 -260 -39.8 0 0    
Net Change In Cash CZK mil     569 -487 -301 11.2 50.4    
ratios                  
Days Sales Outstanding days     21.5 21.2 22.6 21.2 24.2    
Days Sales Of Inventory days     5.61 5.78 5.26 6.70 7.05    
Days Payable Outstanding days     23.1 23.1 18.6 16.9 23.5    
Cash Conversion Cycle days     4.00 3.89 9.21 11.0 7.71    
Cash Earnings CZK mil     578 494 416 13.5 226    
Free Cash Flow CZK mil     569 -227 -261 11.2 50.4    
other data Unit 2007 2008 2009 2010 2011 2012 2013 2014 2015
other data                  
ROA %     1.33 0.550 -0.244 -6.90 -3.58    
Gross Margin %     2.97 2.45 1.25 0.868 1.85    
Employees     72.0 58.0 44.0 42.0 41.0    
Cost Per Employee USD per month     6,176 5,894 5,877 5,320 5,447    
Cost Per Employee (Local Currency) CZK per month     117,693 112,634 103,939 104,056 106,565    
Staff Cost (As % Of Total Cost) %     0.373 0.278 0.162 0.201 0.230    
Effective Tax Rate %     25.9 33.5 64.5 -0.217 12.8    
Capital Expenditures (As % of Sales) %     0.596 0.425 1.21 0.270 0.110    
Sales of Fuels - Wholesale CZK mil     15,051 13,082 17,410 9,791 8,762    
Sales of Fuels - Retail CZK mil     14,927 14,694 16,067 15,479 13,447    
Sales of Fuels (kt) kt ... ... ... ... 600 ... ...   ...
Number of Gas Stations ... ... ... 219 215 213 207 ... ...
Sales per Gas Station CZK mil ... ... ... 67.1 74.7 72.7 65.0 ... ...

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OMV Česká republika is a Czech Republic-based subsidiary of the Austrian oil and gas conglomerate OMV AG. The Austria's OMV originated in 1956 as a joint-stock company. At the end of 1987, 15% of OMV was privatized, making it the first public listing of a state-owned company in Austria. The Company operates in three business segments: i) Exploration and Production of oil and gas, ii) Gas and Power, which deals with the gas transit through and transport within Austria business and iii) Refining and Marketing, a division which operates the refineries Schwechat (Austria), Burghausen (Germany) and Petrobrazi (Romania), and holds a 45%-stake in Bayernoil refinery complex (Germany), which produces petroleum products.

Finance

OMV Czech Republic has been growing its sales by a year on average in the last 5 years. EBITDA has fallen on average by 2.1% a year during that time to total of CZK 479 mil in 2015, or 2.44% of sales. That’s compared to 1.25% average margin seen in last five years.

The company netted CZK 178 mil in 2015 implying ROE of 5.99% and ROCE of 6.64%. Again, the average figures were -2.20% and -1.97%, respectively when looking at the previous 5 years.

OMV Czech Republic’s net debt amounted to CZK -920 mil at the end of 2015, or -0.301 of equity. When compared to EBITDA, net debt was -1.92x, down when compared to average of -0.191x seen in the last 5 years.