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PHOENIX Lekarensky Velkoobchod

PHOENIX's net profit rose 77.9% yoy to CZK 296 mil in 2019

By Helgi Analytics - June 22, 2021

PHOENIX Lekarensky Velkoobchod made a net profit of CZK 296 mil in 2019, up 77.9% compared to the previous year. Total sales reached...

PHOENIX's employees fell 1.53% yoy to 774 in 2019

By Helgi Analytics - June 22, 2021

PHOENIX Lekarensky Velkoobchod employed 774 employees in 2019, down 1.53% compared to the previous year. Historically, betwe...

PHOENIX's Net Margin rose 73.7% yoy to 1.16% in 2019

By Helgi Analytics - June 22, 2021

PHOENIX Lekarensky Velkoobchod made a net profit of CZK 296 mil with revenues of CZK 25,613 mil in 2019, up by 77.9% and up by 2...

Profit Statement 2017 2018 2019
Sales CZK mil 23,446 25,006 25,613
Gross Profit CZK mil 743 785 843
EBITDA CZK mil 332 294 341
EBIT CZK mil 282 246 290
Financing Cost CZK mil ... 110 137
Pre-Tax Profit CZK mil 318 195 333
Net Profit CZK mil 273 166 296
Dividends CZK mil 221 0 0
Balance Sheet 2017 2018 2019
Total Assets CZK mil 10,401 10,273 10,428
Non-Current Assets CZK mil 2,656 2,647 3,010
Current Assets CZK mil 7,740 7,622 7,411
Working Capital CZK mil 1,982 1,952 1,664
Shareholders' Equity CZK mil 2,228 2,395 2,691
Liabilities CZK mil 8,173 7,879 7,738
Total Debt CZK mil 1,833 1,602 1,402
Net Debt CZK mil ... -161 -484
Ratios 2017 2018 2019
ROE % 12.4 7.20 11.6
ROCE % 5.81 3.60 6.39
Gross Margin % 3.17 3.14 3.29
EBITDA Margin % 1.42 1.18 1.33
EBIT Margin % 1.20 0.984 1.13
Net Margin % 1.16 0.665 1.16
Net Debt/EBITDA ... -0.545 -1.42
Net Debt/Equity % ... -6.71 -18.0
Cost of Financing % ... 6.41 9.11
Cash Flow 2017 2018 2019
Total Cash From Operations CZK mil 252 78.3 -72.4
Total Cash From Investing CZK mil -20.8 127 315
Total Cash From Financing CZK mil -224 -230 -200
Net Change In Cash CZK mil 6.90 -24.4 42.3
Cash Conversion Cycle days 29.2 26.9 22.0
Cash Earnings CZK mil 322 215 347
Free Cash Flow CZK mil 231 206 242

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overview Unit 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
income statement                      
Sales CZK mil         22,866 23,289 22,946 24,133 23,446    
Gross Profit CZK mil         715 725 702 748 743    
EBIT CZK mil         364 351 295 315 282    
Net Profit CZK mil         220 185 139 259 273    
                         
ROE % ...       9.70 8.13 6.37 12.0 12.4    
EBIT Margin %         1.59 1.51 1.28 1.30 1.20    
Net Margin %         0.961 0.793 0.607 1.07 1.16    
Employees         675 709 715 726 742    
balance sheet                      
Total Assets CZK mil         9,525 8,884 8,990 9,733 10,401    
Non-Current Assets CZK mil         2,522 2,537 2,605 2,608 2,656    
Current Assets CZK mil         7,004 6,343 6,381 7,122 7,740    
                         
Shareholders' Equity CZK mil         2,301 2,241 2,134 2,177 2,228    
Liabilities CZK mil         7,224 6,642 6,856 7,556 8,173    
Non-Current Liabilities CZK mil         19.9 27.4 27.6 26.9 38.3    
Current Liabilities CZK mil         7,186 6,561 6,798 7,443 8,114    
                         
Net Debt/EBITDA ... ... ... ... ... ... ... ... ...    
Net Debt/Equity % ... ... ... ... ... ... ... ... ...    
Cost of Financing % ... ... ... ... ... ... ... ... ...    
cash flow                      
Total Cash From Operations CZK mil ... ... ... ... ... ... ... 143 252    
Total Cash From Investing CZK mil ... ... ... ... ... ... ... -568 -20.8    
Total Cash From Financing CZK mil ... ... ... ... ... ... ... 409 -224    
Net Change In Cash CZK mil ... ... ... ... ... ... ... -15.8 6.90    
income statement Unit 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
income statement                      
Sales CZK mil         22,866 23,289 22,946 24,133 23,446    
Cost of Goods & Services CZK mil         22,151 22,564 22,244 23,386 22,702    
Gross Profit CZK mil         715 725 702 748 743    
Staff Cost CZK mil         294 321 339 364 396    
Other Operating Cost (Income) CZK mil         21.4 18.4 30.2 23.9 15.4    
EBITDA CZK mil         400 386 333 360 332    
Depreciation CZK mil         35.5 35.0 38.4 45.1 49.7    
EBIT CZK mil         364 351 295 315 282    
Net Financing Cost CZK mil         89.0 117 121 7.90 -35.4    
Financing Cost CZK mil ... ... ... ... ... ... ... ... ...    
Financing Income CZK mil ... ... ... ... ... ... ... ... ...    
FX (Gain) Loss CZK mil ... ... ... ... ... ... ... ... ...    
Extraordinary Cost CZK mil         -0.351 -0.012 0 0 0    
Pre-Tax Profit CZK mil         275 234 174 307 318    
Tax CZK mil         55.8 49.1 34.8 48.3 41.9    
Minorities CZK mil         0 0 0 0 0    
Net Profit CZK mil         220 185 139 259 273    
Net Profit Avail. to Common CZK mil         220 185 139 259 273    
Dividends CZK mil ...       148 245 247 216 221    
growth rates                      
Total Revenue Growth % ...       -4.46 1.85 -1.47 5.17 -2.85    
Staff Cost Growth % ...       0.803 9.04 5.60 7.33 8.91    
EBITDA Growth % ...       -2.66 -3.39 -13.7 8.09 -7.84    
EBIT Growth % ...       1.34 -3.59 -16.0 6.85 -10.4    
Pre-Tax Profit Growth % ...       -0.376 -15.1 -25.5 76.3 3.44    
Net Profit Growth % ...       1.89 -15.9 -24.5 85.6 5.39    
ratios                      
ROE % ...       9.70 8.13 6.37 12.0 12.4    
ROA % ...       2.44 2.01 1.56 2.76 2.71    
ROCE % ...       8.12 6.27 4.30 6.35 5.81    
Gross Margin %         3.13 3.11 3.06 3.10 3.17    
EBITDA Margin %         1.75 1.66 1.45 1.49 1.42    
EBIT Margin %         1.59 1.51 1.28 1.30 1.20    
Net Margin %         0.961 0.793 0.607 1.07 1.16    
Payout Ratio % ...       67.2 132 177 83.5 81.1    
Cost of Financing % ... ... ... ... ... ... ... ... ...    
Net Debt/EBITDA ... ... ... ... ... ... ... ... ...    
balance sheet Unit 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
balance sheet                      
Cash & Cash Equivalents CZK mil         73.3 65.1 87.6 71.8 78.7    
Receivables CZK mil         3,575 3,705 3,738 5,027 5,312    
Inventories CZK mil         2,080 1,973 2,096 2,023 2,349    
Current Assets CZK mil         7,004 6,343 6,381 7,122 7,740    
Property, Plant & Equipment CZK mil         810 825 894 894 942    
LT Investments & Receivables CZK mil ... ... ... ... ... ... ... ... ...    
Intangible Assets CZK mil         1.66 2.28 2.70 4.44 4.75    
Goodwill CZK mil         0 0 0 0 0    
Non-Current Assets CZK mil         2,522 2,537 2,605 2,608 2,656    
Total Assets CZK mil         9,525 8,884 8,990 9,733 10,401    
                         
Trade Payables CZK mil         5,356 5,144 5,034 4,915 5,679    
Short-Term Debt CZK mil         1,207 922 1,200 1,834 1,833    
Other ST Liabilities CZK mil         622 496 564 694 602    
Current Liabilities CZK mil         7,186 6,561 6,798 7,443 8,114    
Long-Term Debt CZK mil         4.07 6.19 0 0 0    
Other LT Liabilities CZK mil         15.8 21.2 27.6 26.9 38.3    
Non-Current Liabilities CZK mil         19.9 27.4 27.6 26.9 38.3    
Liabilities CZK mil         7,224 6,642 6,856 7,556 8,173    
Equity Before Minority Interest CZK mil         2,301 2,241 2,134 2,177 2,228    
Minority Interest CZK mil         0 0 0 0 0    
Equity CZK mil         2,301 2,241 2,134 2,177 2,228    
growth rates                      
Total Asset Growth % ...       12.0 -6.74 1.19 8.27 6.87    
Shareholders' Equity Growth % ...       3.23 -2.60 -4.79 2.00 2.37    
Net Debt Growth % ... ... ... ... ... ... ... ... ... ...  
Total Debt Growth % ...       70.7 -23.4 29.4 52.8 -0.048    
ratios                      
Total Debt CZK mil         1,211 928 1,200 1,834 1,833    
Net Debt CZK mil ... ... ... ... ... ... ... ... ...    
Working Capital CZK mil         299 534 800 2,135 1,982    
Capital Employed CZK mil         2,821 3,070 3,406 4,743 4,638    
Net Debt/Equity % ... ... ... ... ... ... ... ... ...    
Current Ratio         0.975 0.967 0.939 0.957 0.954    
Quick Ratio         0.508 0.575 0.563 0.685 0.664    
cash flow Unit 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
cash flow                      
Net Profit CZK mil         220 185 139 259 273    
Depreciation CZK mil         35.5 35.0 38.4 45.1 49.7    
Non-Cash Items CZK mil ... ... ... ... ... ... ... 1,173 -224    
Change in Working Capital CZK mil ...       -212 -235 -267 -1,335 153    
Total Cash From Operations CZK mil ... ... ... ... ... ... ... 143 252    
                         
Capital Expenditures CZK mil ... ... ... ... ... ... ... -57.8 -74.9    
Other Investing Activities CZK mil ... ... ... ... ... ... ... -510 54.1    
Total Cash From Investing CZK mil ... ... ... ... ... ... ... -568 -20.8    
                         
Dividends Paid CZK mil ...       -148 -245 -247 -216 -221    
Issuance Of Debt CZK mil ...       502 -284 272 634 -0.880    
Total Cash From Financing CZK mil ... ... ... ... ... ... ... 409 -224    
Net Change In Cash CZK mil ... ... ... ... ... ... ... -15.8 6.90    
ratios                      
Days Sales Outstanding days         57.1 58.1 59.5 76.0 82.7    
Days Sales Of Inventory days         34.3 31.9 34.4 31.6 37.8    
Days Payable Outstanding days         88.3 83.2 82.6 76.7 91.3    
Cash Conversion Cycle days         3.08 6.77 11.3 30.9 29.2    
Cash Earnings CZK mil         255 220 178 304 322    
Free Cash Flow CZK mil ... ... ... ... ... ... ... -425 231    
Capital Expenditures (As % of Sales) % ... ... ... ... ... ... ... 0.239 0.320    
other ratios Unit 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
                       
Employees         675 709 715 726 742    
Cost Per Employee USD per month         1,856 1,764 1,654 1,654 1,895    
Cost Per Employee (Local Currency) CZK per month         36,320 37,703 39,479 41,731 44,470    
Staff Cost (As % of Sales) %         1.29 1.38 1.48 1.51 1.69    
Effective Tax Rate %         20.2 21.0 20.0 15.7 13.2    
Total Revenue Growth (5-year average) % ... ... ... ... ... -3.90 -2.16 -0.704 -0.412    
Total Revenue Growth (10-year average) % ... ... ... ... ... ... ... ... ... ...  

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PHOENIX's Cash & Cash Equivalents rose 77.9% yoy to CZK 96.5 mil in 2019

By Helgi Analytics - June 22, 2021

PHOENIX Lekarensky Velkoobchod's total assets reached CZK 10,428 mil at the end of 2019, up 1.51% compared to the previous year. Current assets amounted to CZK 7,411 mil, or 71.1% of total assets while cash stood at CZK 96.5 mil at the end ...

PHOENIX's ROCE rose 77.2% yoy to 6.39% in 2019

By Helgi Analytics - June 22, 2021

PHOENIX Lekarensky Velkoobchod made a net profit of CZK 296 mil in 2019, up 77.9% compared to the previous year. Historically, between 2009 and 2019, the company's net profit reached a high of CZK 296 mil in 2019 and a low of CZK 139 mil in 2015. The resu...

PHOENIX's Net Debt/EBITDA fell 160% yoy to -1.42 in 2019

By Helgi Analytics - June 22, 2021

PHOENIX Lekarensky Velkoobchod's net debt stood at CZK -484 mil and accounted for -18.0% of equity at the end of 2019. The ratio is down 11.3 pp compared to the previous year. Historically, the firm’s net debt to equity reached a high of -6.71% in 20...

More News

Phoenix Lekárenský Velkoobchod, a.s. is a Czech Republic-based pharmaceutical distributor. With a market share of nearly 40%, the Company is clearly the leader on the Czech wholesale pharmaceutical market. The Company operates six warehouses throughout the Czech Republic (Praha, Brno, Ostrava, Plzeň, Vysoké Mýto, Ševětín). The Company supplies pharmacies and hospitals with pharmaceutical products, offers warehouse services to pharmaceutical producers and runs a network of its own pharmacies through its subsidiary BENU Česká republika. Phoenix Lekarensky Velkoobchod operates as a subsidiary of PHOENIX Pharmahandel Aktiengesellschaft & Co. KG.

PHOENIX Lekarensky Velkoobchod Logo

Finance

PHOENIX Lekarensky Velkoobchod has been growing its sales by 1.92% a year on average in the last 5 years. EBITDA has fallen on average by 2.47% a year during that time to total of CZK 341 mil in 2019, or 1.33% of sales. That’s compared to 1.37% average margin seen in last five years.

The company netted CZK 296 mil in 2019 implying ROE of 11.6% and ROCE of 6.39%. Again, the average figures were 9.92% and 5.29%, respectively when looking at the previous 5 years.

PHOENIX Lekarensky Velkoobchod’s net debt amounted to CZK -484 mil at the end of 2019, or -18.0% of equity. When compared to EBITDA, net debt was -1.42x, down when compared to average of -0.983x seen in the last 5 years.