PEAL

PEAL's Cash & Cash Equivalents rose 24.7% yoy to CZK 50.6 mil in 2017

By Helgi Analytics - April 2, 2020

PEAL's total assets reached CZK 683 mil at the end of 2017, up 3.68% compared to the previous year. Current assets...

Profit Statement 2015 2016 2017
Sales CZK mil 7,489 6,936 6,370
Gross Profit CZK mil 206 225 249
EBITDA CZK mil 46.4 49.4 45.9
EBIT CZK mil 36.1 39.7 34.2
Financing Cost CZK mil 4.59 3.83 4.18
Pre-Tax Profit CZK mil 31.5 35.9 30.1
Net Profit CZK mil 25.8 28.6 24.0
Dividends CZK mil 36.2 7.20 ...
Balance Sheet 2015 2016 2017
Total Assets CZK mil 666 659 683
Non-Current Assets CZK mil 98.1 103 112
Current Assets CZK mil 530 512 527
Working Capital CZK mil 203 177 219
Shareholders' Equity CZK mil 121 114 131
Liabilities CZK mil 545 545 552
Total Debt CZK mil 199 184 214
Net Debt CZK mil 163 143 164
Ratios 2015 2016 2017
ROE % 23.9 24.3 19.6
ROCE % 8.76 9.84 7.86
Gross Margin % 2.75 3.25 3.91
EBITDA Margin % 0.620 0.712 0.721
EBIT Margin % 0.482 0.573 0.538
Net Margin % 0.344 0.412 0.377
Net Debt/EBITDA 3.52 2.90 3.56
Net Debt/Equity % 135 126 125
Cost of Financing % 2.11 2.00 2.10
Cash Flow 2015 2016 2017
Total Cash From Operations CZK mil 9.17 50.6 40.8
Total Cash From Investing CZK mil -6.75 -12.5 -19.7
Total Cash From Financing CZK mil 1.48 -33.2 -11.1
Net Change In Cash CZK mil 3.90 4.86 10.0
Cash Conversion Cycle days 9.91 9.36 12.7
Cash Earnings CZK mil 36.1 38.3 35.7
Free Cash Flow CZK mil 2.42 38.1 21.1

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summary Unit 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
income statement                      
Sales CZK mil         6,995 6,080 5,984 6,495 7,489    
Gross Profit CZK mil         162 156 165 182 206    
EBIT CZK mil         7.32 7.40 18.0 22.2 36.1    
Net Profit CZK mil         2.01 1.58 9.20 13.8 25.8    
ROE %         2.64 2.08 11.3 15.3 23.9    
EBIT Margin %         0.105 0.122 0.301 0.343 0.482    
Net Margin %         0.029 0.026 0.154 0.212 0.344    
Employees         401 403 420 453 473    
balance sheet                      
Total Assets CZK mil         645 610 659 694 666    
Non-Current Assets CZK mil         95.5 108 103 99.5 98.1    
Current Assets CZK mil         537 484 536 563 530    
Shareholders' Equity CZK mil         74.7 77.0 85.5 95.0 121    
Liabilities CZK mil         570 533 574 599 545    
Non-Current Liabilities CZK mil         0.464 0.546 3.94 9.45 10.9    
Current Liabilities CZK mil         360 307 356 361 529    
Net Debt/EBITDA         5.75 7.45 5.92 6.02 3.52    
Net Debt/Equity %         220 248 215 215 135    
Cost of Financing % ...       2.40 2.79 2.96 2.17 2.11    
cash flow                      
Total Cash From Operations CZK mil         31.4 4.70 21.5 1.39 9.17    
Total Cash From Investing CZK mil         -12.2 -28.5 -7.99 -6.44 -6.75    
Total Cash From Financing CZK mil         -3.54 14.1 -10.6 0.913 1.48    
Net Change In Cash CZK mil         15.7 -9.75 2.93 -4.14 3.90    
income statement Unit 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
income statement                      
Sales CZK mil         6,995 6,080 5,984 6,495 7,489    
Cost of Goods & Services CZK mil         6,833 5,925 5,818 6,312 7,283    
Gross Profit CZK mil         162 156 165 182 206    
Staff Cost CZK mil         137 135 140 153 173    
Other Cost CZK mil         -3.61 -5.28 -5.84 -4.21 -14.0    
EBITDA CZK mil         28.7 25.6 31.1 34.0 46.4    
Depreciation CZK mil         21.3 18.2 13.1 11.8 10.3    
EBIT CZK mil         7.32 7.40 18.0 22.2 36.1    
Financing Cost CZK mil         4.78 6.01 6.56 4.95 4.59    
Extraordinary Cost CZK mil         0 0 0 0 0    
Pre-Tax Profit CZK mil         2.54 1.39 11.4 17.3 31.5    
Tax CZK mil         0.527 -0.194 2.25 3.50 5.70    
Minorities CZK mil         0 0 0 0 0    
Net Profit CZK mil         2.01 1.58 9.20 13.8 25.8    
Dividends CZK mil         3.00 0 4.60 0 36.2   ...
growth rates                      
Total Revenue Growth % ...       -5.90 -13.1 -1.59 8.54 15.3    
Operating Cost Growth % ...       2.84 -2.38 3.22 10.5 7.39    
EBITDA Growth % ...       -14.4 -10.5 21.2 9.49 36.4    
EBIT Growth % ...       -48.2 1.08 143 23.5 62.1    
Pre-Tax Profit Growth % ...       -61.5 -45.5 726 51.1 82.0    
Net Profit Growth % ...       -66.8 -21.5 483 49.9 86.9    
ratios                      
ROE %         2.64 2.08 11.3 15.3 23.9    
ROCE % ...       0.920 0.546 2.96 5.10 8.76    
Gross Margin %         2.31 2.56 2.76 2.81 2.75    
EBITDA Margin %         0.410 0.422 0.519 0.524 0.620    
EBIT Margin %         0.105 0.122 0.301 0.343 0.482    
Net Margin %         0.029 0.026 0.154 0.212 0.344    
Payout Ratio %         149 0 50.0 0 140   ...
Cost of Financing % ...       2.40 2.79 2.96 2.17 2.11    
Net Debt/EBITDA         5.75 7.45 5.92 6.02 3.52    
balance sheet Unit 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
balance sheet                      
Non-Current Assets CZK mil         95.5 108 103 99.5 98.1    
Property, Plant & Equipment CZK mil         90.9 106 102 97.4 95.0    
Intangible Assets CZK mil         3.18 0.398 0.369 0.422 1.01    
Goodwill CZK mil         2.61 0 0 0 0    
Current Assets CZK mil         537 484 536 563 530    
Inventories CZK mil         275 263 310 338 298    
Receivables CZK mil         175 141 165 156 197    
Cash & Cash Equivalents CZK mil         42.8 33.0 35.9 31.8 35.7    
Total Assets CZK mil         645 610 659 694 666    
Shareholders' Equity CZK mil         74.7 77.0 85.5 95.0 121    
Of Which Minority Interest CZK mil         0 0 0 0 0    
Liabilities CZK mil         570 533 574 599 545    
Non-Current Liabilities CZK mil         0.464 0.546 3.94 9.45 10.9    
Long-Term Debt CZK mil         0.464 14.0 3.94 9.45 0    
Deferred Tax Liabilities CZK mil         0 0 0 0 0    
Current Liabilities CZK mil         360 307 356 361 529    
Short-Term Debt CZK mil         207 210 216 227 199    
Trade Payables CZK mil         333 146 325 307 291    
Provisions CZK mil         0 0 0 1.73 1.83    
Equity And Liabilities CZK mil         645 610 659 694 666    
growth rates                      
Total Asset Growth % ...       8.32 -5.39 8.06 5.26 -4.02    
Shareholders' Equity Growth % ...       -3.98 2.98 11.1 11.0 27.5    
Net Debt Growth % ...       0.855 16.0 -3.78 11.3 -20.2    
Total Debt Growth % ...       8.96 8.02 -1.91 7.56 -15.9    
ratios                      
Total Debt CZK mil         207 224 220 236 199    
Net Debt CZK mil         165 191 184 205 163    
Working Capital CZK mil         116 259 150 188 203    
Capital Employed CZK mil         211 367 254 287 301    
Net Debt/Equity %         220 248 215 215 135    
Cost of Financing % ...       2.40 2.79 2.96 2.17 2.11    
cash flow Unit 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
cash flow                      
Net Profit CZK mil         2.01 1.58 9.20 13.8 25.8    
Depreciation CZK mil         21.3 18.2 13.1 11.8 10.3    
Non-Cash Items CZK mil ...       0.797 128 -109 13.0 -11.3    
Change in Working Capital CZK mil ...       7.28 -143 108 -37.2 -15.7    
Total Cash From Operations CZK mil         31.4 4.70 21.5 1.39 9.17    
Capital Expenditures CZK mil         -13.8 -36.9 -8.05 -7.70 -8.55    
Other Investments CZK mil         1.57 8.39 0.062 1.27 1.81    
Total Cash From Investing CZK mil         -12.2 -28.5 -7.99 -6.44 -6.75    
Dividends Paid CZK mil ...       -2.40 -3.00 0 -4.60 0    
Issuance Of Shares CZK mil ... ... ... ... ... ... ... 0 0    
Issuance Of Debt CZK mil ...       17.1 16.6 -4.29 16.6 -37.5    
Total Cash From Financing CZK mil         -3.54 14.1 -10.6 0.913 1.48    
Net Change In Cash CZK mil         15.7 -9.75 2.93 -4.14 3.90    
ratios                      
Days Sales Outstanding days         9.12 8.48 10.1 8.79 9.58    
Days Sales Of Inventory days         14.7 16.2 19.5 19.5 14.9    
Days Payable Outstanding days         17.8 9.00 20.4 17.7 14.6    
Cash Conversion Cycle days         5.97 15.7 9.14 10.6 9.91    
Cash Earnings CZK mil         23.3 19.8 22.3 25.6 36.1    
Free Cash Flow CZK mil         19.2 -23.8 13.5 -5.05 2.42    
other data Unit 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
other data                      
ROA %         0.324 0.252 1.45 2.04 3.79    
Gross Margin %         2.31 2.56 2.76 2.81 2.75    
Employees         401 403 420 453 473    
Cost Per Employee USD per month         1,608 1,431 1,421 1,314 1,280    
Cost Per Employee (Local Currency) CZK per month         28,443 27,990 27,799 28,078 30,547    
Staff Cost (As % Of Total Cost) %         1.96 2.23 2.35 2.36 2.33    
Effective Tax Rate %         20.8 -14.0 19.6 20.2 18.1    
Capital Expenditures (As % of Sales) %         0.197 0.607 0.135 0.119 0.114    

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Nov 2018
Statistical Dossier

PEAL a.s. is a Czech Republic-based wholesaler. The Company specialises in selling of tobacco products, smoking supplies, alcoholic and soft drinks, wine, stamps, sweets, coffee and tea to newsstands, restaurants, and gas stations, and also operates the network of Don Pealo stores. The Company currently employs around 430 employees and supplies 8,000 customers, cooperating with more than 100 suppliers. The Company is based in Prague, the Czech Republic.

Finance

PEAL has been growing its sales by a year on average in the last 5 years. EBITDA has grown on average by 12.4% a year during that time to total of CZK 45.9 mil in 2017, or 0.721% of sales. That’s compared to 0.619% average margin seen in last five years.

The company netted CZK 24.0 mil in 2017 implying ROE of 19.6% and ROCE of 7.86%. Again, the average figures were 18.9% and 6.91%, respectively when looking at the previous 5 years.

PEAL’s net debt amounted to CZK 164 mil at the end of 2017, or 125% of equity. When compared to EBITDA, net debt was 3.56x, down when compared to average of 4.38x seen in the last 5 years.