By Helgi Analytics - April 2, 2020
Pivovary Lobkowicz's total assets reached CZK 2,095 mil at the end of 2016, up 27.7% compared to the previous year. ...
| Profit Statement | 2014 | 2015 | 2016 | |
| Sales | 1,157 | 1,148 | 1,176 | |
| Gross Profit | CZK mil | 460 | 470 | 164 |
| EBITDA | 145 | 115 | -20.9 | |
| EBIT | 18.5 | -9.14 | -96.7 | |
| Financing Cost | CZK mil | 10.1 | 4.46 | 9.78 |
| Pre-Tax Profit | CZK mil | 8.37 | -13.6 | -106 |
| Net Profit | CZK mil | -3.66 | -21.5 | -106 |
| Balance Sheet | 2014 | 2015 | 2016 | |
| Total Assets | CZK mil | 1,714 | 1,640 | 2,095 |
| Non-Current Assets | CZK mil | 1,235 | 1,205 | 1,546 |
| Current Assets | CZK mil | 479 | 435 | 483 |
| Working Capital | CZK mil | 99.7 | 106 | 114 |
| Shareholders' Equity | CZK mil | 1,130 | 1,108 | 1,050 |
| Liabilities | CZK mil | 584 | 532 | 1,044 |
| Total Debt | CZK mil | 243 | 239 | 476 |
| Net Debt | CZK mil | 198 | 185 | 457 |
| Ratios | 2014 | 2015 | 2016 | |
| ROE | % | -3.72 | -1.92 | -9.86 |
| ROCE | % | -0.278 | -1.63 | -7.17 |
| Gross Margin | % | 39.8 | 40.9 | 13.9 |
| EBITDA Margin | % | 12.6 | 10.1 | -1.78 |
| EBIT Margin | % | 1.60 | -0.796 | -8.22 |
| Net Margin | % | -0.317 | -1.87 | -9.05 |
| Net Debt/EBITDA | 1.36 | 1.60 | -21.8 | |
| Net Debt/Equity | % | 17.5 | 16.7 | 43.5 |
| Cost of Financing | % | 0.868 | 1.85 | 2.73 |
| Cash Flow | 2014 | 2015 | 2016 | |
| Total Cash From Operations | CZK mil | -13.6 | 148 | 11.0 |
| Total Cash From Investing | CZK mil | 176 | -135 | 82.2 |
| Total Cash From Financing | CZK mil | -154 | -3.36 | -126 |
| Net Change In Cash | CZK mil | 8.40 | 9.96 | -33.2 |
| Cash Conversion Cycle | days | 3.56 | 8.94 | 20.3 |
| Cash Earnings | CZK mil | 123 | 103 | -30.7 |
| Free Cash Flow | CZK mil | 163 | 13.3 | 93.1 |
Get all company financials in excel:
| summary | Unit | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 |
| income statement | ||||||||
| Sales | ... | 1,154 | 1,208 | 1,318 | 1,157 | |||
| Gross Profit | CZK mil | ... | 540 | 554 | 639 | 460 | ||
| EBIT | ... | -60.2 | -0.162 | 40.8 | 18.5 | |||
| Net Profit | CZK mil | ... | -155 | -62.7 | -73.8 | -3.66 | ||
| ROE | % | ... | 51.9 | 15.2 | 10.8 | -3.72 | ||
| EBIT Margin | % | ... | -5.22 | -0.013 | 3.09 | 1.60 | ||
| Net Margin | % | ... | -13.5 | -5.19 | -5.60 | -0.317 | ||
| Employees | ... | ... | ... | 673 | 633 | |||
| balance sheet | ||||||||
| Total Assets | CZK mil | 2,203 | 2,063 | 1,972 | 1,868 | 1,714 | ||
| Non-Current Assets | CZK mil | 1,457 | 1,380 | 1,335 | 1,267 | 1,235 | ||
| Current Assets | CZK mil | 746 | 682 | 637 | 601 | 479 | ||
| Shareholders' Equity | CZK mil | -214 | -385 | -439 | -933 | 1,130 | ||
| Liabilities | CZK mil | 2,417 | 2,447 | 2,411 | 2,801 | 584 | ||
| Non-Current Liabilities | CZK mil | 1,392 | 1,502 | 1,911 | 206 | 163 | ||
| Current Liabilities | CZK mil | 1,025 | 945 | 500 | 2,595 | 421 | ||
| Net Debt/EBITDA | ... | 9.26 | 8.19 | 8.81 | 1.36 | |||
| Net Debt/Equity | % | -669 | -399 | -449 | -220 | 17.5 | ||
| Cost of Financing | % | ... | -5.24 | 2.35 | 4.63 | 0.868 | ||
| cash flow | ||||||||
| Total Cash From Operations | CZK mil | ... | 5.55 | -335 | 246 | -13.6 | ||
| Total Cash From Investing | CZK mil | ... | -120 | -108 | -319 | 176 | ||
| Total Cash From Financing | CZK mil | ... | 116 | 453 | 69.2 | -154 | ||
| Net Change In Cash | CZK mil | ... | 1.81 | 11.2 | -3.75 | 8.40 |
| income statement | Unit | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 |
| income statement | ||||||||
| Sales | ... | 1,154 | 1,208 | 1,318 | 1,157 | |||
| Cost of Goods & Services | CZK mil | ... | 614 | 654 | 679 | 697 | ||
| Gross Profit | CZK mil | ... | 540 | 554 | 639 | 460 | ||
| Staff Cost | CZK mil | ... | 292 | 278 | 285 | 278 | ||
| Other Cost | CZK mil | ... | 81.9 | 35.2 | 120 | 36.8 | ||
| EBITDA | ... | 166 | 241 | 233 | 145 | |||
| Depreciation | CZK mil | ... | 226 | 241 | 193 | 127 | ||
| EBIT | ... | -60.2 | -0.162 | 40.8 | 18.5 | |||
| Financing Cost | CZK mil | ... | -80.1 | 42.4 | 95.4 | 10.1 | ||
| Extraordinary Cost | CZK mil | ... | 160 | 0 | 0.001 | 0 | ||
| Pre-Tax Profit | CZK mil | ... | -140 | -42.6 | -54.7 | 8.37 | ||
| Tax | CZK mil | ... | 8.74 | 12.2 | 15.0 | 10.3 | ||
| Minorities | CZK mil | ... | 6.31 | 7.91 | 4.06 | 1.78 | ||
| Net Profit | CZK mil | ... | -155 | -62.7 | -73.8 | -3.66 | ||
| growth rates | ||||||||
| Total Revenue Growth | % | ... | ... | 4.72 | 9.12 | -12.2 | ||
| Operating Cost Growth | % | ... | ... | -16.3 | 29.5 | -22.4 | ||
| EBITDA Growth | % | ... | ... | 45.4 | -3.08 | -37.7 | ||
| EBIT Growth | % | ... | ... | -99.7 | -25,264 | -54.6 | ||
| Pre-Tax Profit Growth | % | ... | ... | -69.6 | 28.4 | -115 | ||
| Net Profit Growth | % | ... | ... | -59.6 | 17.6 | -95.0 | ||
| ratios | ||||||||
| ROE | % | ... | 51.9 | 15.2 | 10.8 | -3.72 | ||
| ROCE | % | ... | -13.2 | -4.58 | -5.09 | -0.278 | ||
| Gross Margin | % | ... | 46.8 | 45.9 | 48.5 | 39.8 | ||
| EBITDA Margin | % | ... | 14.4 | 19.9 | 17.7 | 12.6 | ||
| EBIT Margin | % | ... | -5.22 | -0.013 | 3.09 | 1.60 | ||
| Net Margin | % | ... | -13.5 | -5.19 | -5.60 | -0.317 | ||
| Cost of Financing | % | ... | -5.24 | 2.35 | 4.63 | 0.868 | ||
| Net Debt/EBITDA | ... | 9.26 | 8.19 | 8.81 | 1.36 |
| balance sheet | Unit | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 |
| balance sheet | ||||||||
| Non-Current Assets | CZK mil | 1,457 | 1,380 | 1,335 | 1,267 | 1,235 | ||
| Property, Plant & Equipment | CZK mil | 999 | 951 | 907 | 936 | 885 | ||
| Intangible Assets | CZK mil | 426 | 388 | 338 | 267 | 268 | ||
| Goodwill | CZK mil | 426 | 388 | 338 | 249 | 249 | ||
| Current Assets | CZK mil | 746 | 682 | 637 | 601 | 479 | ||
| Inventories | CZK mil | 184 | 182 | 174 | 128 | 124 | ||
| Receivables | CZK mil | 362 | 339 | 311 | 230 | 234 | ||
| Cash & Cash Equivalents | CZK mil | 44.9 | 46.7 | 57.9 | 36.4 | 44.8 | ||
| Total Assets | CZK mil | 2,203 | 2,063 | 1,972 | 1,868 | 1,714 | ||
| Shareholders' Equity | CZK mil | -214 | -385 | -439 | -933 | 1,130 | ||
| Of Which Minority Interest | CZK mil | 130 | 113 | 121 | 41.4 | 0 | ||
| Liabilities | CZK mil | 2,417 | 2,447 | 2,411 | 2,801 | 584 | ||
| Non-Current Liabilities | CZK mil | 1,392 | 1,502 | 1,911 | 206 | 163 | ||
| Long-Term Debt | CZK mil | 1,361 | 1,463 | 1,876 | 170 | 126 | ||
| Deferred Tax Liabilities | CZK mil | 29.1 | 32.4 | 33.3 | 28.4 | 29.6 | ||
| Current Liabilities | CZK mil | 1,025 | 945 | 500 | 2,595 | 421 | ||
| Short-Term Debt | CZK mil | 115 | 119 | 155 | 1,924 | 117 | ||
| Trade Payables | CZK mil | 801 | 754 | 229 | 320 | 258 | ||
| Provisions | CZK mil | 5.48 | 15.7 | 12.0 | 3.67 | 4.30 | ||
| Equity And Liabilities | CZK mil | 2,203 | 2,063 | 1,972 | 1,868 | 1,714 | ||
| growth rates | ||||||||
| Total Asset Growth | % | ... | -6.39 | -4.39 | -5.29 | -8.21 | ||
| Shareholders' Equity Growth | % | ... | 79.9 | 14.3 | 112 | -221 | ||
| Net Debt Growth | % | ... | 7.25 | 28.5 | 4.31 | -90.4 | ||
| Total Debt Growth | % | ... | 7.16 | 28.4 | 3.13 | -88.4 | ||
| ratios | ||||||||
| Total Debt | CZK mil | 1,476 | 1,582 | 2,030 | 2,094 | 243 | ||
| Net Debt | CZK mil | 1,431 | 1,535 | 1,973 | 2,058 | 198 | ||
| Working Capital | CZK mil | -255 | -233 | 257 | 37.8 | 99.7 | ||
| Capital Employed | CZK mil | 1,203 | 1,147 | 1,592 | 1,305 | 1,335 | ||
| Net Debt/Equity | % | -669 | -399 | -449 | -220 | 17.5 | ||
| Cost of Financing | % | ... | -5.24 | 2.35 | 4.63 | 0.868 |
| cash flow | Unit | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 |
| cash flow | ||||||||
| Net Profit | CZK mil | ... | -155 | -62.7 | -73.8 | -3.66 | ||
| Depreciation | CZK mil | ... | 226 | 241 | 193 | 127 | ||
| Non-Cash Items | CZK mil | ... | -43.5 | -22.6 | -92.3 | -75.0 | ||
| Change in Working Capital | CZK mil | ... | -21.5 | -490 | 219 | -61.9 | ||
| Total Cash From Operations | CZK mil | ... | 5.55 | -335 | 246 | -13.6 | ||
| Capital Expenditures | CZK mil | ... | -104 | -91.1 | -389 | -165 | ||
| Other Investments | CZK mil | ... | -15.7 | -16.5 | 69.9 | 341 | ||
| Total Cash From Investing | CZK mil | ... | -120 | -108 | -319 | 176 | ||
| Issuance Of Debt | CZK mil | ... | 106 | 449 | 63.5 | -1,851 | ||
| Total Cash From Financing | CZK mil | ... | 116 | 453 | 69.2 | -154 | ||
| Net Change In Cash | CZK mil | ... | 1.81 | 11.2 | -3.75 | 8.40 | ||
| ratios | ||||||||
| Days Sales Outstanding | days | ... | 107 | 94.1 | 63.7 | 73.7 | ||
| Days Sales Of Inventory | days | ... | 108 | 97.3 | 68.7 | 64.8 | ||
| Days Payable Outstanding | days | ... | 448 | 128 | 172 | 135 | ||
| Cash Conversion Cycle | days | ... | -233 | 63.7 | -39.6 | 3.56 | ||
| Cash Earnings | CZK mil | ... | 70.6 | 178 | 119 | 123 | ||
| Free Cash Flow | CZK mil | ... | -114 | -442 | -72.9 | 163 |
| other data | Unit | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 |
| other data | ||||||||
| ROA | % | ... | -7.28 | -3.11 | -3.84 | -0.205 | ||
| Gross Margin | % | ... | 46.8 | 45.9 | 48.5 | 39.8 | ||
| Employees | ... | ... | ... | 673 | 633 | |||
| Cost Per Employee | USD per month | ... | ... | ... | 1,803 | 1,712 | ||
| Cost Per Employee (Local Currency) | CZK per month | ... | ... | ... | 35,274 | 36,594 | ||
| Staff Cost (As % Of Total Cost) | % | ... | 24.1 | 23.0 | 22.3 | 24.4 | ||
| Effective Tax Rate | % | ... | -6.23 | -28.7 | -27.5 | 123 | ||
| Capital Expenditures (As % of Sales) | % | ... | 9.02 | 7.54 | 29.5 | 14.3 |
Get all company financials in excel:
Pivovary Lobkowicz has been growing its sales by a year on average in the last 5 years. EBITDA has fallen by 113% during that time to total of -20.9 in 2016, or -1.78% of sales. That’s compared to 11.7% average margin seen in last five years.
The company netted CZK -106 mil in 2016 implying ROE of -9.86% and ROCE of -7.17%. Again, the average figures were 2.09% and -3.75%, respectively when looking at the previous 5 years.
Pivovary Lobkowicz’s net debt amounted to CZK 457 mil at the end of 2016, or 43.5% of equity. When compared to EBITDA, net debt was -21.8x, down when compared to average of -0.368x seen in the last 5 years.
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