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Primoco UAV

Primoco's net profit fell 6,423% yoy to CZK -24.0 mil in 2019

By Helgi Analytics - October 2, 2020

Primoco UAV made a net profit of CZK -24.0 mil with revenues of CZK 1.36 mil in 2019, down by 6% and down by 95.1%, ...

Primoco's price/earnings (P/E) fell 102% yoy to -43.5 in 2019

By Helgi Analytics - October 2, 2020

Primoco UAV stock traded at CZK 240 per share at the end 2019 translating into a market capitalization of USD 46.1 mil. Since the...

Primoco's Net Debt/EBITDA rose 85.6% yoy to -0.856 in 2019

By Helgi Analytics - October 2, 2020

Primoco UAV's net debt stood at CZK 17.9 mil and accounted for 56.5% of equity at the end of 2019. The ratio is up 99.5 ...

Profit Statement 2017 2018 2019
Sales CZK mil 1.15 27.5 1.36
Gross Profit CZK mil -14.8 4.51 -13.3
EBITDA CZK mil -5.54 4.04 -20.9
EBIT CZK mil -7.05 2.03 -23.4
Financing Cost CZK mil 1.49 1.45 0.514
Pre-Tax Profit CZK mil -7.64 0.379 -24.0
Net Profit CZK mil -7.64 0.379 -24.0
Balance Sheet 2017 2018 2019
Total Assets CZK mil 26.6 56.1 52.5
Non-Current Assets CZK mil 8.94 8.08 33.3
Current Assets CZK mil 17.7 47.9 19.1
Working Capital CZK mil 12.0 24.1 16.8
Shareholders' Equity CZK mil -7.73 55.8 31.7
Liabilities CZK mil 34.4 0.295 20.8
Total Debt CZK mil 33.2 0 20.7
Net Debt CZK mil 26.5 -24.0 17.9
Ratios 2017 2018 2019
ROE % 196 1.58 -54.8
ROCE % -54.4 1.43 -58.2
Gross Margin % -1,288 16.4 -983
EBITDA Margin % -483 14.7 -1,544
EBIT Margin % -615 7.37 -1,729
Net Margin % -667 1.38 -1,767
Net Debt/EBITDA -4.78 -5.94 -0.856
Net Debt/Equity % -343 -43.0 56.5
Cost of Financing % 6.83 8.73 4.95
Valuation 2017 2018 2019
Market Capitalisation USD mil 39.1 48.3 46.1
Enterprise Value (EV) USD mil 40.4 47.3 46.9
Number Of Shares mil 3.34 4.34 4.34
Share Price CZK 249 250 240
EV/EBITDA -171 256 -50.5
EV/Sales 826 37.6 779
Price/Earnings (P/E) -109 2,865 -43.5
Price/Book Value (P/BV) -108 19.5 32.9

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overview Unit 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
income statement                          
Sales CZK mil ... ... ... ... ... ... 0 0 0.006 1.15 27.5    
Gross Profit CZK mil ... ... ... ... ... ... 0 -0.340 -9.69 -14.8 4.51   ...
EBIT CZK mil ... ... ... ... ... ... 0 -0.340 -9.13 -7.05 2.03    
Net Profit CZK mil ... ... ... ... ... ... 0 -0.336 -9.74 -7.64 0.379    
                             
ROE % ... ... ... ... ... ... 0 -7.25 -361 196 1.58    
EBIT Margin % ... ... ... ... ... ... ... ... -152,100 -615 7.37    
Net Margin % ... ... ... ... ... ... ... ... -162,283 -667 1.38    
Employees ... ... ... ... ... ... ... ... 4.00 6.00 10.0   ...
balance sheet                          
Total Assets CZK mil ... ... ... ... ... ... 3.79 5.47 11.2 26.6 56.1    
Non-Current Assets CZK mil ... ... ... ... ... ... 0.027 2.64 3.56 8.94 8.08    
Current Assets CZK mil ... ... ... ... ... ... 3.77 1.60 7.61 17.7 47.9    
                             
Shareholders' Equity CZK mil ... ... ... ... ... ... 3.79 5.47 -0.086 -7.73 55.8    
Liabilities CZK mil ... ... ... ... ... ... 0 0 11.3 34.4 0.295    
Non-Current Liabilities CZK mil ... ... ... ... ... ... 0 0 10.5 28.9 0    
Current Liabilities CZK mil ... ... ... ... ... ... 0 0 0.713 5.31 0.202    
                             
Net Debt/EBITDA ... ... ... ... ... ... ... 4.71 -0.779 -4.78 -5.94    
Net Debt/Equity % ... ... ... ... ... ... -99.3 -29.3 -7,688 -343 -43.0    
Cost of Financing % ... ... ... ... ... ... ... ... 9.56 6.83 8.73   ...
cash flow                          
Total Cash From Operations CZK mil ... ... ... ... ... ... ... ... -11.5 -8.89 -14.6   ...
Total Cash From Investing CZK mil ... ... ... ... ... ... ... ... -1.79 -6.89 -1.14   ...
Total Cash From Financing CZK mil ... ... ... ... ... ... ... ... 15.5 18.5 34.2   ...
Net Change In Cash CZK mil ... ... ... ... ... ... ... ... 2.15 2.71 18.5   ...
valuation                          
Market Capitalisation USD mil ... ... ... ... ... ... ... ... 22.7 39.1 48.3    
Enterprise Value (EV) USD mil ... ... ... ... ... ... ... ... 22.9 40.4 47.3    
Number Of Shares mil ... ... ... ... ... ... ... ... 2.34 3.34 4.34    
Share Price CZK ... ... ... ... ... ... ... ... 248 249 250    
Price/Earnings (P/E) ... ... ... ... ... ... ... ... -59.7 -109 2,865    
Price/Cash Earnings (P/CE) ... ... ... ... ... ... ... ... -63.9 -136 455    
EV/EBITDA ... ... ... ... ... ... ... ... -68.1 -171 256    
Price/Book Value (P/BV) ... ... ... ... ... ... ... ... -6,759 -108 19.5    
income statement Unit 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
income statement                          
Sales CZK mil ... ... ... ... ... ... 0 0 0.006 1.15 27.5    
Cost of Goods & Services CZK mil ... ... ... ... ... ... 0 0.340 9.69 15.9 23.0   ...
Gross Profit CZK mil ... ... ... ... ... ... 0 -0.340 -9.69 -14.8 4.51   ...
Staff Cost CZK mil ... ... ... ... ... ... 0 0 2.45 3.81 6.30   ...
Other Operating Cost (Income) CZK mil ... ... ... ... ... ... 0 0 -3.65 -13.0 -5.83   ...
EBITDA CZK mil ... ... ... ... ... ... 0 -0.340 -8.49 -5.54 4.04    
Depreciation CZK mil ... ... ... ... ... ... 0 0 0.634 1.51 2.01    
EBIT CZK mil ... ... ... ... ... ... 0 -0.340 -9.13 -7.05 2.03    
Net Financing Cost CZK mil ... ... ... ... ... ... 0 -0.004 0.611 0.593 1.65    
Financing Cost CZK mil ... ... ... ... ... ... ... ... 0.500 1.49 1.45   ...
Financing Income CZK mil ... ... ... ... ... ... ... ... 1.11 2.09 3.10   ...
Extraordinary Cost CZK mil ... ... ... ... ... ... 0 0 0 0 0    
Pre-Tax Profit CZK mil ... ... ... ... ... ... 0 -0.336 -9.74 -7.64 0.379    
Tax CZK mil ... ... ... ... ... ... 0 0 0 0 0    
Minorities CZK mil ... ... ... ... ... ... ... ... 0 0 0   ...
Net Profit CZK mil ... ... ... ... ... ... 0 -0.336 -9.74 -7.64 0.379    
Net Profit Avail. to Common CZK mil ... ... ... ... ... ... 0 -0.336 -9.74 -7.64 0.379    
growth rates                          
Total Revenue Growth % ... ... ... ... ... ... ... ... ... 19,000 2,302    
Staff Cost Growth % ... ... ... ... ... ... ... ... ... 55.6 65.3   ...
EBITDA Growth % ... ... ... ... ... ... ... ... 2,398 -34.8 -173    
EBIT Growth % ... ... ... ... ... ... ... ... 2,584 -22.8 -129    
Pre-Tax Profit Growth % ... ... ... ... ... ... ... ... 2,798 -21.5 -105    
Net Profit Growth % ... ... ... ... ... ... ... ... 2,798 -21.5 -105    
ratios                          
ROE % ... ... ... ... ... ... 0 -7.25 -361 196 1.58    
ROA % ... ... ... ... ... ... 0 -7.25 -117 -40.4 0.916    
ROCE % ... ... ... ... ... ... ... -20.4 -187 -54.4 1.43    
Gross Margin % ... ... ... ... ... ... ... ... -161,450 -1,288 16.4   ...
EBITDA Margin % ... ... ... ... ... ... ... ... -141,533 -483 14.7    
EBIT Margin % ... ... ... ... ... ... ... ... -152,100 -615 7.37    
Net Margin % ... ... ... ... ... ... ... ... -162,283 -667 1.38    
Cost of Financing % ... ... ... ... ... ... ... ... 9.56 6.83 8.73   ...
Net Debt/EBITDA ... ... ... ... ... ... ... 4.71 -0.779 -4.78 -5.94    
balance sheet Unit 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
balance sheet                          
Cash & Cash Equivalents CZK mil ... ... ... ... ... ... 3.77 1.60 3.84 5.07 23.5    
Receivables CZK mil ... ... ... ... ... ... 0 0.121 0.523 1.92 11.1    
Inventories CZK mil ... ... ... ... ... ... 0 0.506 3.25 10.7 13.3    
Other ST Assets CZK mil ... ... ... ... ... ... 0 -0.627 0 0 0    
Current Assets CZK mil ... ... ... ... ... ... 3.77 1.60 7.61 17.7 47.9    
Property, Plant & Equipment CZK mil ... ... ... ... ... ... 0 0.800 2.09 6.15 5.28    
LT Investments & Receivables CZK mil ... ... ... ... ... ... 0 0 0 1.64 0.441    
Intangible Assets CZK mil ... ... ... ... ... ... 0.027 1.84 1.47 1.15 2.35    
Goodwill CZK mil ... ... ... ... ... ... 0 0 0 0 0    
Non-Current Assets CZK mil ... ... ... ... ... ... 0.027 2.64 3.56 8.94 8.08    
Total Assets CZK mil ... ... ... ... ... ... 3.79 5.47 11.2 26.6 56.1    
                             
Trade Payables CZK mil ... ... ... ... ... ... 0 0 0.195 0.603 0.240    
Short-Term Debt CZK mil ... ... ... ... ... ... 0 0 0 4.26 0    
Other ST Liabilities CZK mil ... ... ... ... ... ... 0 0 0.518 0.448 -0.038    
Current Liabilities CZK mil ... ... ... ... ... ... 0 0 0.713 5.31 0.202    
Long-Term Debt CZK mil ... ... ... ... ... ... 0 0 10.5 28.9 0    
Other LT Liabilities CZK mil ... ... ... ... ... ... 0 0 0 0 0    
Non-Current Liabilities CZK mil ... ... ... ... ... ... 0 0 10.5 28.9 0    
Liabilities CZK mil ... ... ... ... ... ... 0 0 11.3 34.4 0.295    
Equity Before Minority Interest CZK mil ... ... ... ... ... ... 3.79 5.47 -0.086 -7.73 55.8    
Minority Interest CZK mil ... ... ... ... ... ... 0 0 0 0 0    
Equity CZK mil ... ... ... ... ... ... 3.79 5.47 -0.086 -7.73 55.8    
growth rates                          
Total Asset Growth % ... ... ... ... ... ... ... 44.3 104 139 110    
Shareholders' Equity Growth % ... ... ... ... ... ... ... 44.3 -102 8,883 -822    
Net Debt Growth % ... ... ... ... ... ... ... -57.5 -513 301 -191    
Total Debt Growth % ... ... ... ... ... ... ... ... ... 218 -100 ...  
ratios                          
Total Debt CZK mil ... ... ... ... ... ... 0 0 10.5 33.2 0    
Net Debt CZK mil ... ... ... ... ... ... -3.77 -1.60 6.61 26.5 -24.0    
Working Capital CZK mil ... ... ... ... ... ... 0 0.627 3.58 12.0 24.1    
Capital Employed CZK mil ... ... ... ... ... ... 0.027 3.27 7.13 21.0 32.2    
Net Debt/Equity % ... ... ... ... ... ... -99.3 -29.3 -7,688 -343 -43.0    
Current Ratio ... ... ... ... ... ... ... ... 10.7 3.33 237    
Quick Ratio ... ... ... ... ... ... ... ... 6.12 1.32 171    
cash flow Unit 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
cash flow                          
Net Profit CZK mil ... ... ... ... ... ... 0 -0.336 -9.74 -7.64 0.379    
Depreciation CZK mil ... ... ... ... ... ... 0 0 0.634 1.51 2.01    
Non-Cash Items CZK mil ... ... ... ... ... ... ... ... 0.534 5.70 -4.84   ...
Change in Working Capital CZK mil ... ... ... ... ... ... ... -0.627 -2.95 -8.45 -12.1    
Total Cash From Operations CZK mil ... ... ... ... ... ... ... ... -11.5 -8.89 -14.6   ...
                             
Capital Expenditures CZK mil ... ... ... ... ... ... ... ... -1.79 -6.89 -1.14   ...
Other Investing Activities CZK mil ... ... ... ... ... ... ... ... 0 0 0   ...
Total Cash From Investing CZK mil ... ... ... ... ... ... ... ... -1.79 -6.89 -1.14   ...
                             
Dividends Paid CZK mil ... ... ... ... ... ... ... ... 0 0 0   ...
Issuance Of Shares CZK mil ... ... ... ... ... ... ... ... 5.00 0 63.1   ...
Issuance Of Debt CZK mil ... ... ... ... ... ... ... 0 10.5 22.7 -33.2    
Other Financing Activities CZK mil ... ... ... ... ... ... ... ... 6.79 2.64 68.5   ...
Total Cash From Financing CZK mil ... ... ... ... ... ... ... ... 15.5 18.5 34.2   ...
                             
Effect of FX Rates CZK mil ... ... ... ... ... ... ... ... 0 0 0   ...
Net Change In Cash CZK mil ... ... ... ... ... ... ... ... 2.15 2.71 18.5   ...
ratios                          
Days Sales Outstanding days ... ... ... ... ... ... ... ... 31,816 611 147    
Days Sales Of Inventory days ... ... ... ... ... ... ... 543 122 246 211   ...
Days Payable Outstanding days ... ... ... ... ... ... ... 0 7.34 13.8 3.81   ...
Cash Conversion Cycle days ... ... ... ... ... ... ... ... 31,931 843 354   ...
Cash Earnings CZK mil ... ... ... ... ... ... 0 -0.336 -9.10 -6.13 2.39    
Free Cash Flow CZK mil ... ... ... ... ... ... ... ... -13.3 -15.8 -15.7   ...
Capital Expenditures (As % of Sales) % ... ... ... ... ... ... ... ... 29,750 601 4.14   ...
other ratios Unit 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
                           
Employees ... ... ... ... ... ... ... ... 4.00 6.00 10.0   ...
Cost Per Employee USD per month ... ... ... ... ... ... ... ... 2,023 2,257 2,401   ...
Cost Per Employee (Local Currency) CZK per month ... ... ... ... ... ... ... ... 51,042 52,958 52,525   ...
Staff Cost (As % of Sales) % ... ... ... ... ... ... ... ... 40,833 333 22.9   ...
Effective Tax Rate % ... ... ... ... ... ... ... 0 0 0 0    
valuation Unit 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
                           
Market Capitalisation USD mil ... ... ... ... ... ... ... ... 22.7 39.1 48.3    
Enterprise Value (EV) USD mil ... ... ... ... ... ... ... ... 22.9 40.4 47.3    
Number Of Shares mil ... ... ... ... ... ... ... ... 2.34 3.34 4.34    
Share Price CZK ... ... ... ... ... ... ... ... 248 249 250    
EV/EBITDA ... ... ... ... ... ... ... ... -68.1 -171 256    
Price/Earnings (P/E) ... ... ... ... ... ... ... ... -59.7 -109 2,865    
Price/Cash Earnings (P/CE) ... ... ... ... ... ... ... ... -63.9 -136 455    
P/FCF ... ... ... ... ... ... ... ... -43.7 -52.8 -69.2   ...
Price/Book Value (P/BV) ... ... ... ... ... ... ... ... -6,759 -108 19.5    
Free Cash Flow Yield % ... ... ... ... ... ... ... ... -2.33 -1.72 -1.48   ...
Earnings Per Share (EPS) CZK ... ... ... ... ... ... ... ... -4.15 -2.28 0.087    
Cash Earnings Per Share CZK ... ... ... ... ... ... ... ... -3.88 -1.83 0.549    
Free Cash Flow Per Share CZK ... ... ... ... ... ... ... ... -5.68 -4.72 -3.61   ...
Book Value Per Share CZK ... ... ... ... ... ... ... ... -0.037 -2.31 12.8    
EV/Sales ... ... ... ... ... ... ... ... 96,430 826 37.6    
EV/EBIT ... ... ... ... ... ... ... ... -63.4 -134 509    
EV/Free Cash Flow ... ... ... ... ... ... ... ... -43.5 -60.0 -65.9   ...
EV/Capital Employed ... ... ... ... ... ... ... ... 82.4 41.0 33.0    
Earnings Per Share Growth % ... ... ... ... ... ... ... ... ... -45.0 -104    
Cash Earnings Per Share Growth % ... ... ... ... ... ... ... ... ... -52.8 -130    
Book Value Per Share Growth % ... ... ... ... ... ... ... ... ... 6,196 -656    
sales of vehicles Unit 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
                           
Sales From Automotive CZK mil ... ... ...       102,426 121,875 118,154 112,576 27.0   ...
Price Per Vehicle Sold CZK ... ... ...       333,176 395,699 329,671 315,603 79.3   ...
EBIT Per Vehicle Sold CZK ... ... ... ... ... ... 0 -1.10 -25.5 -19.8 5.97   ...
Net Profit Per Vehicle Sold CZK ... ... ... ... ... ... 0 -1.09 -27.2 -21.4 1.11   ...
Price Per Vehicle Sold (USD) USD ... ... ...       15,589 16,578 13,066 13,450 3.62   ...
EBIT Per Vehicle Sold (USD) USD ... ... ... ... ... ... 0 -0.046 -1.01 -0.842 0.273   ...
Net Profit Per Vehicle Sold (USD) USD ... ... ... ... ... ... 0 -0.046 -1.08 -0.913 0.051   ...
Market Value per Vehicle Sold (USD) USD ... ... ... ... ... ... ... ... 63.3 110 142   ...
Production of Vehicles vehicles             307,450 342,200 358,400 356,700 340,300   ...
Production of Vehicles (At Home) vehicles             307,450 342,200 358,400 356,700 340,300   ...
Domestic Production (As % Of Total) %             100 100 100 100 100   ...
Sales of Vehicles vehicles             307,423 308,000 358,400 356,700 340,300   ...
Sales of Model 1 vehicles ...           99,200 106,082 78,848 92,029 68,060   ...
Sales of Model 2 vehicles ...       ... ... ... ... ... ... ... ... ...
Sales of Model 3 vehicles ... ...         35,500 34,220 32,256 30,676 20,418   ...
Sales of Model 4 vehicles ... ... ...       172,600 88,972 247,296 233,995 241,613   ...
Sales of Model 5 vehicles ... ... ... ... ... ... ... ... ... ... 10,209   ...

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Primoco's ROCE fell 4,186% yoy to -58.2% in 2019

By Helgi Analytics - October 2, 2020

Primoco UAV made a net profit of CZK -24.0 mil in 2019, down 6% compared to the previous year. Historically, between 2014 and 2019, the company's net profit reached a high of CZK 0.379 mil in 2018 and a low of CZK -24.0 mil in 2019. The result implies a r...

Primoco's Net Margin fell 128,472% yoy to -1,767% in 2019

By Helgi Analytics - October 2, 2020

Primoco UAV made a net profit of CZK -24.0 mil with revenues of CZK 1.36 mil in 2019, down by 6.00% and down by 95.1%, respectively, compared to the previous year. This translates into a net margin of -1,767%. Historically, between 2016 and 2019, th...

Primoco's Share Price fell 4.00% yoy to CZK 240 in 2019

By Helgi Analytics - October 2, 2020

Primoco UAV stock traded at CZK 240 per share at the end 2019 implying a market capitalization of USD 46.1 mil. Since the end of 2014, stock has appreciated by % implying an annual average growth of % In absolute terms, the value of the company rose ...

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 a year on average in the last 5 years. EBITDA has grown by 2% during that time to total of CZK 8.00 mil in 2020, or 26.7% of sales. That’s compared to -28,704% average margin seen in last five years.

The company netted CZK 4.00 mil in 2020 implying ROE of 11.9% and ROCE of 7.98%. Again, the average figures were -41.4% and -58.1%, respectively when looking at the previous 5 years.

Primoco UAV’s net debt amounted to CZK 17.9 mil at the end of 2020, or 50.1% of equity. When compared to EBITDA, net debt was 2.24x, up when compared to average of -2.02x seen in the last 5 years.

Valuation

Primoco UAV stock traded at CZK 240 per share at the end of 2020 resulting in a market capitalization of USD 46.1 mil. Over the previous five years, stock price grew by 0% or % a year on average. The closing price put stock at a 12-month trailing EV/EBITDA of 132x and price to earnings (PE) of 261x as of 2020.