PTACEK - velkoobchod

PTACEK's Cash & Cash Equivalents fell 10.5% yoy to CZK 317 mil in 2016

By Helgi Analytics - April 2, 2020

PTACEK - velkoobchod's total assets reached CZK 3,098 mil at the end of 2016, up 6.69% compared to the previous year. ...

Profit Statement 2014 2015 2016
Sales CZK mil 5,639 6,113 6,649
Gross Profit CZK mil 710 790 949
EBITDA CZK mil 250 295 410
EBIT CZK mil 228 266 371
Financing Cost CZK mil 7.85 6.69 34.9
Pre-Tax Profit CZK mil 220 259 336
Net Profit CZK mil 175 214 272
Dividends CZK mil 0 0 ...
Balance Sheet 2014 2015 2016
Total Assets CZK mil 3,123 2,904 3,098
Non-Current Assets CZK mil 137 188 316
Current Assets CZK mil 2,968 2,695 2,762
Working Capital CZK mil 1,875 2,229 2,209
Shareholders' Equity CZK mil 1,262 1,475 1,747
Liabilities CZK mil 1,861 1,429 1,351
Total Debt CZK mil 1,464 1,150 966
Net Debt CZK mil 1,208 796 650
Ratios 2014 2015 2016
ROE % 14.9 15.6 16.9
ROCE % 9.01 9.65 11.0
Gross Margin % 12.6 12.9 14.3
EBITDA Margin % 4.43 4.83 6.16
EBIT Margin % 4.05 4.35 5.57
Net Margin % 3.10 3.50 4.09
Net Debt/EBITDA 4.83 2.70 1.59
Net Debt/Equity % 95.8 54.0 37.2
Cost of Financing % 0.537 0.512 3.30
Cash Flow 2014 2015 2016
Total Cash From Operations CZK mil 13.6 405 1,029
Total Cash From Investing CZK mil -39.0 -73.2 -165
Total Cash From Financing CZK mil 58.1 -234 -900
Net Change In Cash CZK mil 32.7 97.8 -36.3
Cash Conversion Cycle days 128 141 129
Cash Earnings CZK mil 196 243 311
Free Cash Flow CZK mil -25.4 332 864

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summary Unit 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
income statement                                  
Sales CZK mil                     4,381 4,921 4,984 5,199 5,639    
Gross Profit CZK mil                     508 707 792 656 710    
EBIT CZK mil                     148 184 133 213 228    
Net Profit CZK mil                     128 157 116 165 175    
ROE %                     10.4 11.4 9.73 16.5 14.9    
EBIT Margin %                     3.39 3.73 2.68 4.11 4.05    
Net Margin %                     2.92 3.19 2.32 3.18 3.10    
Employees ... ... ...     ... ...       837 868 949 1,020 1,096    
balance sheet                                  
Total Assets CZK mil                     1,989 2,328 2,852 2,960 3,123    
Non-Current Assets CZK mil                     154 200 128 126 137    
Current Assets CZK mil                     1,786 2,087 2,713 2,819 2,968    
Shareholders' Equity CZK mil                     1,299 1,456 922 1,087 1,262    
Liabilities CZK mil                     690 872 1,930 1,873 1,861    
Non-Current Liabilities CZK mil                     311 312 1,111 1,112 1,113    
Current Liabilities CZK mil                     324 521 605 760 688    
Net Debt/EBITDA                     0.472 0.615 9.12 5.31 4.83    
Net Debt/Equity %                     5.98 8.56 152 114 95.8    
Cost of Financing % ...                   -2.19 -2.50 -0.957 0.454 0.537    
cash flow                                  
Total Cash From Operations CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... 13.6    
Total Cash From Investing CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... -39.0    
Total Cash From Financing CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... 58.1    
Net Change In Cash CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... 32.7    
income statement Unit 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
income statement                                  
Sales CZK mil                     4,381 4,921 4,984 5,199 5,639    
Cost of Goods & Services CZK mil                     3,873 4,214 4,191 4,543 4,929    
Gross Profit CZK mil                     508 707 792 656 710    
Staff Cost CZK mil                     357 508 636 410 452    
Other Cost CZK mil                     -14.2 -3.24 2.89 13.0 7.71    
EBITDA CZK mil                     165 203 154 233 250    
Depreciation CZK mil                     16.3 18.9 20.1 19.9 21.7    
EBIT CZK mil                     148 184 133 213 228    
Financing Cost CZK mil                     -7.88 -8.81 -9.85 7.21 7.85    
Extraordinary Cost CZK mil                     0 0 0 0 0    
Pre-Tax Profit CZK mil                     156 193 143 206 220    
Tax CZK mil                     28.4 35.7 27.7 40.9 45.7    
Minorities CZK mil                     0 0 0 0 0    
Net Profit CZK mil                     128 157 116 165 175    
Dividends CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... 0   ...
growth rates                                  
Total Revenue Growth % ...                   -4.01 12.3 1.27 4.32 8.47    
Operating Cost Growth % ...                   -1.31 47.1 26.6 -33.8 8.78    
EBITDA Growth % ...                   215 23.0 -24.2 52.0 7.13    
EBIT Growth % ...                   226 23.8 -27.3 59.9 6.97    
Pre-Tax Profit Growth % ...                   126 23.2 -25.6 43.9 6.90    
Net Profit Growth % ...                   237 22.6 -26.3 43.0 5.71    
ratios                                  
ROE %                     10.4 11.4 9.73 16.5 14.9    
ROCE % ...                   9.58 10.2 6.39 8.77 9.01    
Gross Margin %                     11.6 14.4 15.9 12.6 12.6    
EBITDA Margin %                     3.76 4.12 3.08 4.49 4.43    
EBIT Margin %                     3.39 3.73 2.68 4.11 4.05    
Net Margin %                     2.92 3.19 2.32 3.18 3.10    
Payout Ratio % ... ... ... ... ... ... ... ... ... ... ... ... ... ... 0   ...
Cost of Financing % ...                   -2.19 -2.50 -0.957 0.454 0.537    
Net Debt/EBITDA                     0.472 0.615 9.12 5.31 4.83    
balance sheet Unit 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
balance sheet                                  
Non-Current Assets CZK mil                     154 200 128 126 137    
Property, Plant & Equipment CZK mil                     136 91.9 101 101 119    
Intangible Assets CZK mil                     4.54 3.83 2.07 0.318 0.198    
Current Assets CZK mil                     1,786 2,087 2,713 2,819 2,968    
Inventories CZK mil                     595 691 857 912 962    
Receivables CZK mil                     811 1,069 1,041 1,131 1,152    
Cash & Cash Equivalents CZK mil                     282 221 315 223 256    
Total Assets CZK mil                     1,989 2,328 2,852 2,960 3,123    
Shareholders' Equity CZK mil                     1,299 1,456 922 1,087 1,262    
Of Which Minority Interest CZK mil                     0 0 0 0 0    
Liabilities CZK mil                     690 872 1,930 1,873 1,861    
Non-Current Liabilities CZK mil                     311 312 1,111 1,112 1,113    
Long-Term Debt CZK mil                     309 315 1,115 1,103 1,103    
Deferred Tax Liabilities CZK mil                     1,917 2.86 4.09 4.66 5.54    
Current Liabilities CZK mil                     324 521 605 760 688    
Short-Term Debt CZK mil                     50.0 30.0 600 359 361    
Trade Payables CZK mil                     183 246 120 302 239    
Provisions CZK mil                     0 0 0 0 0    
Equity And Liabilities CZK mil                     1,989 2,328 2,852 2,960 3,123    
growth rates                                  
Total Asset Growth % ...                   12.2 17.0 22.5 3.81 5.49    
Shareholders' Equity Growth % ...                   11.4 12.1 -36.7 17.9 16.1    
Net Debt Growth % ...                   -54.7 60.4 1,023 -11.5 -2.48    
Total Debt Growth % ...                   -0.334 -3.88 396 -14.7 0.132    
ratios                                  
Total Debt CZK mil                     359 345 1,715 1,462 1,464    
Net Debt CZK mil                     77.7 125 1,400 1,239 1,208    
Working Capital CZK mil                     1,223 1,514 1,777 1,741 1,875    
Capital Employed CZK mil                     1,377 1,713 1,905 1,867 2,012    
Net Debt/Equity %                     5.98 8.56 152 114 95.8    
Cost of Financing % ...                   -2.19 -2.50 -0.957 0.454 0.537    
cash flow Unit 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
cash flow                                  
Net Profit CZK mil                     128 157 116 165 175    
Depreciation CZK mil                     16.3 18.9 20.1 19.9 21.7    
Non-Cash Items CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... -49.1    
Change in Working Capital CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... -134    
Total Cash From Operations CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... 13.6    
Capital Expenditures CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... -40.3    
Other Investments CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... 1.33    
Total Cash From Investing CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... -39.0    
Dividends Paid CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...    
Issuance Of Shares CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... 0    
Issuance Of Debt CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... 1.93    
Total Cash From Financing CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... 58.1    
Net Change In Cash CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... 32.7    
ratios                                  
Days Sales Outstanding days                     67.5 79.3 76.3 79.4 74.5    
Days Sales Of Inventory days                     56.1 59.8 74.6 73.2 71.2    
Days Payable Outstanding days                     17.2 21.3 10.5 24.3 17.7    
Cash Conversion Cycle days                     106 118 140 128 128    
Cash Earnings CZK mil                     144 176 136 185 196    
Free Cash Flow CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... -25.4    
other data Unit 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
other data                                  
ROA %                     6.80 7.27 4.47 5.69 5.75    
Gross Margin %                     11.6 14.4 15.9 12.6 12.6    
Employees ... ... ...     ... ...       837 868 949 1,020 1,096    
Cost Per Employee USD per month ... ... ...     ... ...       1,861 2,757 2,855 1,712 1,609    
Cost Per Employee (Local Currency) CZK per month ... ... ...     ... ...       35,566 48,755 55,841 33,489 34,394    
Staff Cost (As % Of Total Cost) %                     8.44 10.7 13.1 8.22 8.36    
Effective Tax Rate %                     18.2 18.5 19.3 19.8 20.7    
Capital Expenditures (As % of Sales) % ... ... ... ... ... ... ... ... ... ... ... ... ... ... 0.715    

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PTÁČEK – velkoobchod, a.s. is a Czech Republic-based company founded in 1992. The Company is the sanitary wholesale-leader on the Czech and Slovak market. In 2012, total sales reached nearly CZK 5 bil and the net profit exceeded CZK 115 mil. This is up from around CZK 2.1 bil of sales and CZK 11 mil net profit seen a decade ago

PTACEK - velkoobchod Logo

Finance

PTACEK - velkoobchod has been growing its sales by a year on average in the last 5 years. EBITDA has grown on average by 15.1% a year during that time to total of CZK 410 mil in 2016, or 6.16% of sales. That’s compared to 4.60% average margin seen in last five years.

The company netted CZK 272 mil in 2016 implying ROE of 16.9% and ROCE of 11.0%. Again, the average figures were 14.7% and 8.97%, respectively when looking at the previous 5 years.

PTACEK - velkoobchod’s net debt amounted to CZK 650 mil at the end of 2016, or 37.2% of equity. When compared to EBITDA, net debt was 1.59x, down when compared to average of 4.71x seen in the last 5 years.