Penny Market Czech Republic

Penny CR's Cash & Cash Equivalents rose 44.0% yoy to CZK 570 mil in 2017

By Helgi Analytics - April 2, 2020

Penny Market Czech Republic's total assets reached CZK 8,305 mil at the end of 2017, up 23.3% compared to the previous year. ...

Profit Statement 2015 2016 2017
Sales CZK mil 32,135 31,985 33,866
Gross Profit CZK mil 3,956 3,959 4,492
EBITDA CZK mil 1,154 1,217 1,408
EBIT CZK mil 586 639 800
Financing Cost CZK mil 70.6 28.3 33.9
Pre-Tax Profit CZK mil 516 611 766
Net Profit CZK mil 415 487 542
Dividends CZK mil 3,500 0 ...
Balance Sheet 2015 2016 2017
Total Assets CZK mil 9,335 6,738 8,305
Non-Current Assets CZK mil 3,129 3,028 3,086
Current Assets CZK mil 6,156 3,663 5,171
Working Capital CZK mil 313 904 1,591
Shareholders' Equity CZK mil 6,239 3,226 3,768
Liabilities CZK mil 3,097 3,512 4,537
Total Debt CZK mil 19.8 11.8 13.4
Net Debt CZK mil -261 -384 -556
Ratios 2015 2016 2017
ROE % 6.89 10.3 15.5
ROCE % 12.7 13.2 12.6
Gross Margin % 12.3 12.4 13.3
EBITDA Margin % 3.59 3.81 4.16
EBIT Margin % 1.82 2.00 2.36
Net Margin % 1.29 1.52 1.60
Net Debt/EBITDA -0.227 -0.315 -0.395
Net Debt/Equity % -4.19 -11.9 -14.8
Cost of Financing % 374 179 270
Cash Flow 2015 2016 2017
Total Cash From Operations CZK mil 503 1,717 1,869
Total Cash From Investing CZK mil -514 1,896 -1,693
Total Cash From Financing CZK mil 1.82 -3,499 -2.07
Net Change In Cash CZK mil -8.80 114 174
Cash Conversion Cycle days 3.56 9.55 15.4
Cash Earnings CZK mil 983 1,065 1,151
Free Cash Flow CZK mil -10.6 3,613 176

Get all company financials in excel:

Download Sample   $19.99

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 ...                     28,118 29,861 30,407 31,312 32,135    
Gross Profit CZK mil ...                     3,180 3,404 3,477 3,710 3,956    
EBIT CZK mil ...                     517 456 439 704 586    
Net Profit CZK mil ...                     318 327 294 523 415    
ROE % ...                     7.12 6.77 5.70 9.40 6.89    
EBIT Margin % ...                     1.84 1.53 1.44 2.25 1.82    
Net Margin % ...                     1.13 1.09 0.966 1.67 1.29    
Employees ... ... ... ... ... ... ... ... ... ... ... ... ... 5,485 5,716 5,343    
balance sheet                                    
Total Assets CZK mil                       8,332 9,001 8,759 9,490 9,335    
Non-Current Assets CZK mil                       3,025 3,099 3,292 3,318 3,129    
Current Assets CZK mil                       5,269 5,860 5,432 6,128 6,156    
Shareholders' Equity CZK mil                       4,648 5,007 5,301 5,823 6,239    
Liabilities CZK mil                       3,684 3,994 3,459 3,667 3,097    
Non-Current Liabilities CZK mil                       332 271 242 202 156    
Current Liabilities CZK mil                       2,873 3,150 2,667 3,013 2,511    
Net Debt/EBITDA ...                     -0.396 -0.354 -0.312 -0.214 -0.227    
Net Debt/Equity %                       -8.19 -6.67 -5.63 -4.67 -4.19    
Cost of Financing % ... ... ... ... ... ... ... ... ... ... ... ... ... 1,599 509 374    
cash flow                                    
Total Cash From Operations CZK mil ...                     1,074 1,019 401 1,376 503    
Total Cash From Investing CZK mil ...                     -944 -1,065 -443 -1,380 -514    
Total Cash From Financing CZK mil ...                     0 0 14.7 -12.2 1.82    
Net Change In Cash CZK mil ...                     130 -46.5 -27.3 -16.6 -8.80    
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 ...                     28,118 29,861 30,407 31,312 32,135    
Cost of Goods & Services CZK mil ...                     24,939 26,457 26,930 27,602 28,179    
Gross Profit CZK mil ...                     3,180 3,404 3,477 3,710 3,956    
Staff Cost CZK mil ...                     1,759 1,895 1,971 2,055 2,113    
Other Cost CZK mil ...                     460 566 549 383 689    
EBITDA CZK mil ...                     961 944 957 1,273 1,154    
Depreciation CZK mil ...                     444 488 518 569 568    
EBIT CZK mil ...                     517 456 439 704 586    
Financing Cost CZK mil ...                     91.2 60.1 65.9 66.7 70.6    
Extraordinary Cost CZK mil ...                     0 0 0 0 0    
Pre-Tax Profit CZK mil ...                     426 396 373 638 516    
Tax CZK mil ...                     108 68.9 79.3 115 100    
Minorities CZK mil ...                     0 0 0 0 0    
Net Profit CZK mil ...                     318 327 294 523 415    
Dividends CZK mil ... ... ... ... ... ... ... ... ...   ... ... 0 0 0 3,500   ...
growth rates                                    
Total Revenue Growth % ... ...                   4.72 6.20 1.83 2.98 2.63    
Operating Cost Growth % ... ...                   2.29 10.9 2.42 -3.29 15.0    
EBITDA Growth % ... ...                   19.9 -1.79 1.43 33.0 -9.36    
EBIT Growth % ... ...                   32.9 -11.8 -3.70 60.5 -16.8    
Pre-Tax Profit Growth % ... ...                   33.1 -7.05 -5.71 71.0 -19.1    
Net Profit Growth % ... ...                   20.9 2.83 -10.1 78.0 -20.5    
ratios                                    
ROE % ...                     7.12 6.77 5.70 9.40 6.89    
ROCE % ... ...                   9.64 10.9 9.30 16.0 12.7    
Gross Margin % ...                     11.3 11.4 11.4 11.8 12.3    
EBITDA Margin % ...                     3.42 3.16 3.15 4.07 3.59    
EBIT Margin % ...                     1.84 1.53 1.44 2.25 1.82    
Net Margin % ...                     1.13 1.09 0.966 1.67 1.29    
Payout Ratio % ... ... ... ... ... ... ... ... ...   ... ... 0 0 0 842   ...
Cost of Financing % ... ... ... ... ... ... ... ... ... ... ... ... ... 1,599 509 374    
Net Debt/EBITDA ...                     -0.396 -0.354 -0.312 -0.214 -0.227    
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                       3,025 3,099 3,292 3,318 3,129    
Property, Plant & Equipment CZK mil                       2,959 3,002 3,207 3,211 3,094    
Intangible Assets CZK mil                       66.7 96.8 85.6 107 35.1    
Current Assets CZK mil                       5,269 5,860 5,432 6,128 6,156    
Inventories CZK mil                       1,932 1,773 2,055 1,986 1,940    
Receivables CZK mil ...                     417 575 222 284 308    
Cash & Cash Equivalents CZK mil                       380 334 307 290 281    
Total Assets CZK mil                       8,332 9,001 8,759 9,490 9,335    
Shareholders' Equity CZK mil                       4,648 5,007 5,301 5,823 6,239    
Of Which Minority Interest CZK mil                       0 0 0 0 0    
Liabilities CZK mil                       3,684 3,994 3,459 3,667 3,097    
Non-Current Liabilities CZK mil                       332 271 242 202 156    
Long-Term Debt CZK mil                       0 0 0 10.4 12.2    
Deferred Tax Liabilities CZK mil                       332 271 219 191 144    
Current Liabilities CZK mil                       2,873 3,150 2,667 3,013 2,511    
Short-Term Debt CZK mil                       0 0 8.24 7.60 7.66    
Trade Payables CZK mil                       2,291 2,547 2,156 2,474 1,936    
Provisions CZK mil                       439 537 518 422 404    
Equity And Liabilities CZK mil                       8,332 9,001 8,759 9,490 9,335    
growth rates                                    
Total Asset Growth % ...                     14.3 8.03 -2.69 8.35 -1.63    
Shareholders' Equity Growth % ...                     8.73 7.73 5.86 9.86 7.13    
Net Debt Growth % ...                     51.7 -12.2 -10.6 -8.82 -3.92    
Total Debt Growth % ... ... ... ... ... ... ... ... ... ... ... ... ... ... 118 10.4    
ratios                                    
Total Debt CZK mil                       0 0 8.24 18.0 19.8    
Net Debt CZK mil                       -380 -334 -298 -272 -261    
Working Capital CZK mil ...                     58.4 -199 121 -204 313    
Capital Employed CZK mil ...                     3,084 2,900 3,414 3,114 3,442    
Net Debt/Equity %                       -8.19 -6.67 -5.63 -4.67 -4.19    
Cost of Financing % ... ... ... ... ... ... ... ... ... ... ... ... ... 1,599 509 374    
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 ...                     318 327 294 523 415    
Depreciation CZK mil ...                     444 488 518 569 568    
Non-Cash Items CZK mil ... ...                   42.8 -53.1 -90.1 -40.7 36.6    
Change in Working Capital CZK mil ... ...                   269 257 -320 325 -516    
Total Cash From Operations CZK mil ...                     1,074 1,019 401 1,376 503    
Capital Expenditures CZK mil ...                     -251 -571 -747 -625 -473    
Other Investments CZK mil ...                     -693 -495 304 -755 -40.7    
Total Cash From Investing CZK mil ...                     -944 -1,065 -443 -1,380 -514    
Dividends Paid CZK mil ... ... ... ... ... ... ... ... ...   ... ... 0 0 0 0    
Issuance Of Shares CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... 0 0 0    
Issuance Of Debt CZK mil ...                     0 0 8.24 9.71 1.88    
Total Cash From Financing CZK mil ...                     0 0 14.7 -12.2 1.82    
Net Change In Cash CZK mil ...                     130 -46.5 -27.3 -16.6 -8.80    
ratios                                    
Days Sales Outstanding days ...                     5.42 7.03 2.66 3.31 3.50    
Days Sales Of Inventory days ...                     28.3 24.5 27.9 26.3 25.1    
Days Payable Outstanding days ...                     33.5 35.1 29.2 32.7 25.1    
Cash Conversion Cycle days ...                     0.163 -3.65 1.30 -3.14 3.56    
Cash Earnings CZK mil ...                     762 814 812 1,091 983    
Free Cash Flow CZK mil ...                     130 -46.5 -42.1 -4.36 -10.6    
other data Unit 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
other data                                    
ROA % ...                     4.07 3.77 3.31 5.73 4.41    
Gross Margin % ...                     11.3 11.4 11.4 11.8 12.3    
Employees ... ... ... ... ... ... ... ... ... ... ... ... ... 5,485 5,716 5,343    
Cost Per Employee USD per month ... ... ... ... ... ... ... ... ... ... ... ... ... 1,530 1,402 1,381    
Cost Per Employee (Local Currency) CZK per month ... ... ... ... ... ... ... ... ... ... ... ... ... 29,940 29,953 32,951    
Staff Cost (As % Of Total Cost) % ...                     6.37 6.44 6.58 6.71 6.70    
Effective Tax Rate % ...                     25.4 17.4 21.3 18.0 19.4    
Capital Expenditures (As % of Sales) % ...                     0.894 1.91 2.46 2.00 1.47    

Get all company financials in excel:

Download Sample   $19.99

Penny Market is a Czech Republic-based subsidiary of German foodstuff chain REWE Group. Similar to other countries REWE is present at, Penny Market Czech Republic offers the traditional product ranges of the foodstuffs trade at particularly good-value prices. The Company entered the Czech market in 1997 and has grown into one of the largest discount supermarket chains in the country. Following a takeover of 146 supermarkets of Plus chain in 2008, Penny Market now operates more than 340 supermarkets and employes more than 6,000 people in the Czech Republic only. REWE Group is a German diversified retail and tourism group. In 2012, the Company operated in 14 European countries, achieved a turnover of nearly EUR 50 bil and employed about 327,600 employees

Penny Market Czech Republic Logo

Finance

Penny Market Czech Republic has been growing its sales by a year on average in the last 5 years. EBITDA has grown on average by 8.34% a year during that time to total of CZK 1,408 mil in 2017, or 4.16% of sales. That’s compared to 3.75% average margin seen in last five years.

The company netted CZK 542 mil in 2017 implying ROE of 15.5% and ROCE of 12.6%. Again, the average figures were 9.55% and 12.8%, respectively when looking at the previous 5 years.

Penny Market Czech Republic’s net debt amounted to CZK -556 mil at the end of 2017, or -14.8% of equity. When compared to EBITDA, net debt was -0.395x, down when compared to average of -0.293x seen in the last 5 years.