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Primoco UAV

Primoco's net profit rose 176% yoy to CZK 171 mil in 2023

By Helgi Library - September 12, 2024

Primoco UAV made a net profit of CZK 171 mil with revenues of CZK 494 mil in 2023, up by 176% and up by 239%, respe...

Primoco's net profit rose 176% yoy to CZK 171 mil in 2023

By Helgi Library - September 12, 2024

Primoco UAV made a net profit of CZK 171 mil with revenues of CZK 494 mil in 2023, up by 176% and up by 239%, respe...

Primoco's employees rose 12.5% yoy to 45.0 in 2023

By Helgi Library - September 12, 2024

Primoco UAV employed 45.0 employees in 2023, up 12.5% compared to the previous year. Historically, between 2020 and 202...

Profit Statement 2026 2027 2028
Sales CZK mil 1,243 1,335 1,418
Gross Profit CZK mil 460 467 468
EBITDA CZK mil 329 351 370
EBIT CZK mil 316 334 349
Financing Cost CZK mil 0 0 0
Pre-Tax Profit CZK mil 316 334 349
Net Profit CZK mil 253 268 279
Dividends CZK mil 126 134 140
Balance Sheet 2026 2027 2028
Total Assets CZK mil 870 1,019 1,178
Non-Current Assets CZK mil 125 162 204
Current Assets CZK mil 745 858 973
Working Capital CZK mil 242 297 355
Shareholders' Equity CZK mil 789 930 1,075
Liabilities CZK mil 81.6 89.3 102
Total Debt CZK mil 22.4 20.9 24.8
Net Debt CZK mil -428 -479 -525
Ratios 2026 2027 2028
ROE % 35.5 31.1 27.8
ROCE % 80.4 64.8 54.8
Gross Margin % 37.0 35.0 33.0
EBITDA Margin % 42.0 40.5 39.0
EBIT Margin % 25.4 25.1 24.6
Net Margin % 20.3 20.0 19.7
Net Debt/EBITDA -1.30 -1.36 -1.42
Net Debt/Equity % -54.2 -51.5 -48.8
Cost of Financing % 5.00 5.00 5.00
Valuation 2026 2027 2028
Market Capitalisation USD mil 194 194 194
Enterprise Value (EV) USD mil 175 172 170
Number Of Shares mil 4.71 4.71 4.71
Share Price CZK 920 920 920
EV/EBITDA 11.9 11.0 10.3
EV/Sales 3.16 2.90 2.70
Price/Earnings (P/E) 17.1 16.2 15.5
Price/Book Value (P/BV) 5.49 4.66 4.03
Dividend Yield % 2.92 3.09 3.22

Get all company financials in excel:

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overview Unit 2020 2021 2022 2023 2024 2025 2026 2027 2028
income statement                  
Sales CZK mil 30.9 13.3 145            
Gross Profit CZK mil 5.50 -15.9 75.3            
EBIT CZK mil -7.08 -27.5 62.4            
Net Profit CZK mil -9.54 -28.0 61.9            
                     
ROE % -35.6 -52.6 53.5            
EBIT Margin % -22.9 -207 42.9            
Net Margin % -30.9 -211 42.5            
Employees 20.0 24.0 40.0            
balance sheet                  
Total Assets CZK mil 50.5 84.7 158            
Non-Current Assets CZK mil 30.4 32.5 36.4            
Current Assets CZK mil 20.2 52.2 121            
                     
Shareholders' Equity CZK mil 21.8 84.4 147            
Liabilities CZK mil 28.7 0.330 11.2            
Non-Current Liabilities CZK mil 0.097 0.082 0.885            
Current Liabilities CZK mil 28.6 0.248 10.3            
                     
Net Debt/EBITDA 0.172 1.14 -0.960            
Net Debt/Equity % -3.30 -33.4 -43.0            
Cost of Financing % 15.2 ... ... ...          
cash flow                  
Total Cash From Operations CZK mil -1.40 -58.7 34.7            
Total Cash From Investing CZK mil -0.247 -4.39 -0.158            
Total Cash From Financing CZK mil 0 90.5 0.392            
Net Change In Cash CZK mil -1.65 27.4 34.9            
valuation                  
Market Capitalisation USD mil 48.5 58.2 85.7            
Enterprise Value (EV) USD mil 48.5 56.9 82.9            
Number Of Shares mil 4.34 4.71 4.71            
Share Price CZK 240 270 410            
Price/Earnings (P/E) -109 -45.5 31.2            
Price/Cash Earnings (P/CE) -157 -50.3 29.6            
EV/EBITDA -254 -49.8 28.1            
Price/Book Value (P/BV) 47.8 15.1 13.2            
Dividend Yield % 0 0 0            
income statement Unit 2020 2021 2022 2023 2024 2025 2026 2027 2028
income statement                  
Sales CZK mil 30.9 13.3 145            
Cost of Goods & Services CZK mil 25.4 29.2 70.2            
Gross Profit CZK mil 5.50 -15.9 75.3            
Other Operating Expense CZK mil 34.4 43.1 85.9   ... ... ... ... ...
Staff Cost CZK mil 8.98 9.89 15.4            
Other Operating Cost (Income) CZK mil 0.004 3.98 0.279   ... ... ... ... ...
EBITDA CZK mil -4.20 -24.8 65.7            
Depreciation CZK mil 2.88 2.69 3.34            
EBIT CZK mil -7.08 -27.5 62.4            
Net Financing Cost CZK mil 1.13 -0.099 -0.341            
Financing Cost CZK mil 1.58 0.658 0            
Financing Income CZK mil 0.453 0.757 0.341            
(Income) / Loss from Affiliates CZK mil ... ... 0.255 ... ... ... ... ... ...
Extraordinary Cost CZK mil 0 0 0   ... ... ... ... ...
Pre-Tax Profit CZK mil -9.54 -28.0 62.6            
Tax CZK mil 0 0 0.767            
Minorities CZK mil 0 0 0            
Net Profit CZK mil -9.54 -28.0 61.9            
Net Profit Avail. to Common CZK mil -9.54 -28.0 61.9            
Dividends CZK mil 0 0 0            
growth rates                  
Total Revenue Growth % 2,177 -57.0 997            
Operating Cost Growth % 141,049 26.6 86.5   ... ... ... ... ...
Staff Cost Growth % 7.92 10.2 56.0            
EBITDA Growth % -79.9 490 -365            
EBIT Growth % -69.8 288 -327            
Pre-Tax Profit Growth % -60.2 193 -324            
Net Profit Growth % -60.2 193 -321            
ratios                  
ROE % -35.6 -52.6 53.5            
ROA % -18.5 -41.3 51.0            
ROCE % -19.2 -55.3 90.4            
Gross Margin % 17.8 -120 51.7            
EBITDA Margin % -13.6 -187 45.2            
EBIT Margin % -22.9 -207 42.9            
Net Margin % -30.9 -211 42.5            
Payout Ratio % 0 0 0            
Cost of Financing % 15.2 ... ... ...          
Net Debt/EBITDA 0.172 1.14 -0.960            
balance sheet Unit 2020 2021 2022 2023 2024 2025 2026 2027 2028
balance sheet                  
Cash & Cash Equivalents CZK mil 0.721 28.2 63.1            
Receivables CZK mil 5.22 0.004 0.045            
Inventories CZK mil 13.5 19.6 48.4            
Other ST Assets CZK mil 0.708 4.49 9.95            
Current Assets CZK mil 20.2 52.2 121            
Property, Plant & Equipment CZK mil 28.9 30.3 31.9            
LT Investments & Receivables CZK mil 0 0 0            
Intangible Assets CZK mil 1.33 2.08 4.26            
Goodwill CZK mil 0 0 0            
Non-Current Assets CZK mil 30.4 32.5 36.4            
Total Assets CZK mil 50.5 84.7 158            
                     
Trade Payables CZK mil 0 0 0            
Short-Term Debt CZK mil 0 0 0            
Other ST Liabilities CZK mil 28.4 0 3.39            
Current Liabilities CZK mil 28.6 0.248 10.3            
Long-Term Debt CZK mil 0 0 0            
Other LT Liabilities CZK mil 0.097 0.082 0.885            
Non-Current Liabilities CZK mil 0.097 0.082 0.885            
Liabilities CZK mil 28.7 0.330 11.2            
Share Capital CZK mil 4.35 4.71 4.71            
Treasury Stock CZK mil 0 0 0            
Equity Before Minority Interest CZK mil 21.8 84.4 147            
Minority Interest CZK mil 0 0 0            
Equity CZK mil 21.8 84.4 147            
growth rates                  
Total Asset Growth % -3.82 67.7 86.3            
Shareholders' Equity Growth % -31.2 287 73.8            
Net Debt Growth % 30,373 3,807 124            
Total Debt Growth % -100 ... ... ... ...        
ratios                  
Total Debt CZK mil 0 0 0            
Net Debt CZK mil -0.721 -28.2 -63.1            
Working Capital CZK mil 18.7 19.6 48.5            
Capital Employed CZK mil 49.1 52.1 84.8            
Net Debt/Equity % -3.30 -33.4 -43.0            
Current Ratio 0.705 211 11.8            
Quick Ratio 0.208 114 6.11            
cash flow Unit 2020 2021 2022 2023 2024 2025 2026 2027 2028
cash flow                  
Net Profit CZK mil -9.54 -28.0 61.9            
Depreciation CZK mil 2.88 2.69 3.34            
Non-Cash Items CZK mil 2.64 -0.795 -6.26            
Change in Working Capital CZK mil 2.63 -32.6 -24.3            
Total Cash From Operations CZK mil -1.40 -58.7 34.7            
                     
Capital Expenditures CZK mil -0.247 -4.39 -0.158            
Net Change in LT Investment CZK mil 0 0 0   ... ... ... ... ...
Net Cash From Acquisitions CZK mil 0 0 0   ... ... ... ... ...
Other Investing Activities CZK mil 0 0 0   ... ... ... ... ...
Total Cash From Investing CZK mil -0.247 -4.39 -0.158            
                     
Dividends Paid CZK mil 0 0 0            
Issuance Of Shares CZK mil 0 0 0            
Issuance Of Debt CZK mil 0 0 0            
Other Financing Activities CZK mil 0 90.5 0.392            
Total Cash From Financing CZK mil 0 90.5 0.392            
                     
Effect of FX Rates CZK mil 0 0 0            
Net Change In Cash CZK mil -1.65 27.4 34.9            
ratios                  
Days Sales Outstanding days 61.7 0.110 0.113            
Days Sales Of Inventory days 194 245 252            
Days Payable Outstanding days 0 0 0            
Cash Conversion Cycle days 256 245 252            
Cash Earnings CZK mil -6.66 -25.3 65.2            
Free Cash Flow CZK mil -1.65 -63.1 34.5            
Capital Expenditures (As % of Sales) % 0.800 33.1 0.109            
other ratios Unit 2020 2021 2022 2023 2024 2025 2026 2027 2028
                   
Employees 20.0 24.0 40.0            
Cost Per Employee USD per month 1,700 1,585 1,443            
Cost Per Employee (Local Currency) CZK per month 37,413 34,347 32,146            
Operating Cost (As % of Sales) % 114 337 57.3   ... ... ... ... ...
Staff Cost (As % of Sales) % 29.1 74.6 10.6            
Effective Tax Rate % 0 0 1.22            
Total Revenue Growth (5-year average) % ... 367 163            
Total Revenue Growth (10-year average) % ... ... ... ... ... ...      
valuation Unit 2020 2021 2022 2023 2024 2025 2026 2027 2028
                   
Market Capitalisation USD mil 48.5 58.2 85.7            
Enterprise Value (EV) USD mil 48.5 56.9 82.9            
Number Of Shares mil 4.34 4.71 4.71            
Share Price CZK 240 270 410            
EV/EBITDA -254 -49.8 28.1            
Price/Earnings (P/E) -109 -45.5 31.2            
Price/Cash Earnings (P/CE) -157 -50.3 29.6            
P/FCF -634 -20.2 55.9            
Price/Book Value (P/BV) 47.8 15.1 13.2            
Dividend Yield % 0 0 0            
Free Cash Flow Yield % -0.154 -5.00 1.81            
Earnings Per Share (EPS) CZK -2.20 -5.94 13.1            
Cash Earnings Per Share CZK -1.53 -5.37 13.8            
Free Cash Flow Per Share CZK -0.379 -13.4 7.33            
Book Value Per Share CZK 5.03 17.9 31.1            
Dividend Per Share CZK 0 0 0            
EV/Sales 34.6 93.0 12.7            
EV/EBIT -151 -44.9 29.6            
EV/Free Cash Flow -649 -19.5 53.5            
EV/Capital Employed 21.2 23.9 22.1            
Earnings Per Share Growth % 39,815 170 -321            
Cash Earnings Per Share Growth % -69.0 250 -358            
Book Value Per Share Growth % -31.2 257 73.8            

Get all company financials in excel:

Download Sample   $19.99

Primoco's employees rose 12.5% yoy to 45.0 in 2023

By Helgi Library - September 12, 2024

Primoco UAV employed 45.0 employees in 2023, up 12.5% compared to the previous year. Historically, between 2020 and 2023, the firm's workforce hit a high of 45.0 employees in 2023 and a low of 20.0 employees in 2020. Average personnel cost stood at U...

Primoco's price/earnings (P/E) fell 21.7% yoy to 24.4 in 2023

By Helgi Library - September 12, 2024

Primoco UAV stock traded at CZK 885 per share at the end 2023 translating into a market capitalization of USD 187 mil. Since the end of 2018, stock has appreciated by 0% representing an annual average growth of %. In absolute terms, the value of the com...

Primoco's price/earnings (P/E) fell 21.7% yoy to 24.4 in 2023

By Helgi Library - September 12, 2024

Primoco UAV stock traded at CZK 885 per share at the end 2023 translating into a market capitalization of USD 187 mil. Since the end of 2018, stock has appreciated by 0% representing an annual average growth of %. In absolute terms, the value of the com...

Primoco's Capital Expenditures fell 12,339% yoy to CZK 19.7 mil in 2023

By Helgi Library - September 12, 2024

Primoco UAV invested a total of CZK 19.7 mil in 2023, up 12% compared to the previous year. Historically, between 2020 - 2023, the company's investments stood at a high of CZK 19.7 mil in 2023 and a low of CZK 0.158 mil in 2022. As a ...

Primoco's Capital Expenditures fell 12,339% yoy to CZK 19.7 mil in 2023

By Helgi Library - September 12, 2024

Primoco UAV invested a total of CZK 19.7 mil in 2023, up 12% compared to the previous year. Historically, between 2020 - 2023, the company's investments stood at a high of CZK 19.7 mil in 2023 and a low of CZK 0.158 mil in 2022. As a ...

Primoco's Share Price rose 116% yoy to CZK 885 in 2023

By Helgi Library - September 12, 2024

Primoco UAV stock traded at CZK 885 per share at the end 2023 implying a market capitalization of USD 187 mil. Since the end of 2018, stock has appreciated by % implying an annual average growth of % In absolute terms, the value of the company rose b...

Primoco's Share Price rose 116% yoy to CZK 885 in 2023

By Helgi Library - September 12, 2024

Primoco UAV stock traded at CZK 885 per share at the end 2023 implying a market capitalization of USD 187 mil. Since the end of 2018, stock has appreciated by % implying an annual average growth of % In absolute terms, the value of the company rose b...

Primoco's Net Margin fell 18.7% yoy to 34.5% in 2023

By Helgi Library - September 12, 2024

Primoco UAV made a net profit of CZK 171 mil with revenues of CZK 494 mil in 2023, up by 176% and up by 239%, respectively, compared to the previous year. This translates into a net margin of 34.5%. Historically, between 2020 and 2023, the firm’s ...

Primoco's Net Margin fell 18.7% yoy to 34.5% in 2023

By Helgi Library - September 12, 2024

Primoco UAV made a net profit of CZK 171 mil with revenues of CZK 494 mil in 2023, up by 176% and up by 239%, respectively, compared to the previous year. This translates into a net margin of 34.5%. Historically, between 2020 and 2023, the firm’s ...

Primoco's ROCE rose 69.0% yoy to 153% in 2023

By Helgi Library - September 12, 2024

Primoco UAV made a net profit of CZK 171 mil in 2023, up 176% compared to the previous year. Historically, between 2020 and 2023, the company's net profit reached a high of CZK 171 mil in 2023 and a low of CZK -28.0 mil in 2021. The result implies a retur...

More News

Primoco UAV SE is a Czech Republic-based company, which develops, manufactures and sells civilian unmanned aircrafts (UAV). The Company’s flagship product is Primoco UAV model One 100/150. The key features of the aircraft are its size, a maximum take-off weight of 100/150kg, 10 hours endurance, 1500 km range, cruising speed 100-150 km/h, a payload of up to 50kg and fully automatic take-off and landing. This is particularly useful in energy infrastructure monitoring, border and coastal protection, fire monitoring or search and rescue. In addition, the company has developed its own Primoco Engine 500 engine (50 HP). The Company has been listed on the START platform of the Prague Stock Exchange in 2018

Primoco UAV Logo

Finance

Primoco UAV has been growing its sales by 23.5% a year on average in the last 5 years. EBITDA has grown on average by 10.6% a year during that time to total of CZK 370 mil in 2028, or 39.0% of sales. That’s compared to 42.0% average margin seen in last five years.

The company netted CZK 279 mil in 2028 implying ROE of 27.8% and ROCE of 54.8%. Again, the average figures were 32.6% and 75.2%, respectively when looking at the previous 5 years.

Primoco UAV’s net debt amounted to CZK -525 mil at the end of 2028, or -48.8% of equity. When compared to EBITDA, net debt was -1.42x, up when compared to average of -1.51x seen in the last 5 years.

Valuation

Primoco UAV stock traded at CZK 920 per share at the end of 2028 resulting in a market capitalization of USD 194 mil. Over the previous five years, stock price grew by 3.95% or 0.779% a year on average. The closing price put stock at a 12-month trailing EV/EBITDA of 10.3x and price to earnings (PE) of 15.5x as of 2028.