Severoceske vodovody a kanalizace

SVK's Cash & Cash Equivalents fell 26.8% yoy to CZK 3.54 mil in 2014

By Helgi Analytics - April 2, 2020

Severoceske vodovody a kanalizace's total assets reached CZK 3,973 mil at the end of 2014, up 2.67% compared to the previous yea...

Profit Statement 2012 2013 2014
Sales CZK mil 4,314 4,499 4,598
Gross Profit CZK mil 1,489 1,496 1,538
EBITDA CZK mil 568 574 594
EBIT CZK mil 466 469 495
Financing Cost CZK mil -41.7 -38.5 -39.8
Pre-Tax Profit CZK mil 507 507 534
Net Profit CZK mil 416 415 435
Dividends CZK mil 305 305 306
Balance Sheet 2012 2013 2014
Total Assets CZK mil 3,638 3,869 3,973
Non-Current Assets CZK mil 1,274 1,281 1,275
Current Assets CZK mil 2,362 2,585 2,693
Working Capital CZK mil 255 205 240
Shareholders' Equity CZK mil 2,088 2,198 2,327
Liabilities CZK mil 1,550 1,671 1,646
Total Debt CZK mil 1.47 1.49 1.76
Net Debt CZK mil -6.59 -3.35 -1.79
Ratios 2012 2013 2014
ROE % 20.5 19.4 19.2
ROCE % 28.3 27.5 29.0
Gross Margin % 34.5 33.3 33.4
EBITDA Margin % 13.2 12.8 12.9
EBIT Margin % 10.8 10.4 10.8
Net Margin % 9.64 9.22 9.46
Net Debt/EBITDA -0.012 -0.006 -0.003
Net Debt/Equity -0.003 -0.002 < -0.001
Cost of Financing % -2,926 -2,606 -2,455
Cash Flow 2012 2013 2014
Total Cash From Operations CZK mil 514 623 598
Total Cash From Investing CZK mil -215 -321 -288
Total Cash From Financing CZK mil -300 -305 -306
Net Change In Cash CZK mil -0.172 -2.72 3.23
Cash Conversion Cycle days 16.6 10.5 18.4
Cash Earnings CZK mil 518 521 534
Free Cash Flow CZK mil 300 303 309

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summary Unit 2009 2010 2011 2012 2013 2014 2015
income statement              
Sales CZK mil 3,896 4,013 4,229 4,314 4,499   ...
Gross Profit CZK mil 1,424 1,471 1,463 1,489 1,496   ...
EBIT CZK mil 462 467 469 466 469   ...
Net Profit CZK mil 414 403 411 416 415   ...
ROE % 18.8 19.8 21.3 20.5 19.4   ...
EBIT Margin % 11.9 11.6 11.1 10.8 10.4   ...
Net Margin % 10.6 10.0 9.71 9.64 9.22   ...
Employees 1,747 1,741 1,726 1,728 1,713   ...
balance sheet              
Total Assets CZK mil 3,568 3,339 3,498 3,638 3,869   ...
Non-Current Assets CZK mil 1,025 1,215 1,221 1,274 1,281   ...
Current Assets CZK mil 2,540 2,122 2,274 2,362 2,585   ...
Shareholders' Equity CZK mil 2,202 1,871 1,977 2,088 2,198   ...
Liabilities CZK mil 1,366 1,468 1,521 1,550 1,671   ...
Non-Current Liabilities CZK mil 29.0 27.4 34.7 35.6 36.1   ...
Current Liabilities CZK mil 1,315 1,405 1,465 1,487 1,607   ...
Net Debt/EBITDA -0.005 -0.012 -0.004 -0.012 -0.006   ...
Net Debt/Equity -0.001 -0.004 -0.001 -0.003 -0.002   ...
Cost of Financing % ... -2,852 -2,605 -2,926 -2,606   ...
cash flow              
Total Cash From Operations CZK mil 357 1,007 462 514 623   ...
Total Cash From Investing CZK mil -70.8 -269 -162 -215 -321   ...
Total Cash From Financing CZK mil -284 -733 -305 -300 -305   ...
Net Change In Cash CZK mil 2.19 4.48 -4.80 -0.172 -2.72   ...
income statement Unit 2009 2010 2011 2012 2013 2014 2015
income statement              
Sales CZK mil 3,896 4,013 4,229 4,314 4,499   ...
Cost of Goods & Services CZK mil 2,472 2,542 2,766 2,825 3,003   ...
Gross Profit CZK mil 1,424 1,471 1,463 1,489 1,496   ...
Staff Cost CZK mil 743 767 788 805 823   ...
Other Cost CZK mil 128 144 109 116 99.1   ...
EBITDA CZK mil 553 560 566 568 574   ...
Depreciation CZK mil 90.6 92.6 96.6 102 106   ...
EBIT CZK mil 462 467 469 466 469   ...
Financing Cost CZK mil -52.9 -31.6 -35.6 -41.7 -38.5   ...
Extraordinary Cost CZK mil 0 0 0 0 0   ...
Pre-Tax Profit CZK mil 515 499 505 507 507   ...
Tax CZK mil 101 96.2 93.9 91.2 92.2   ...
Minorities CZK mil 0 0 0 0 0   ...
Net Profit CZK mil 414 403 411 416 415   ...
Dividends CZK mil 283 733 304 305 305   ...
growth rates              
Total Revenue Growth % ... 3.00 5.38 2.01 4.30   ...
Operating Cost Growth % ... 4.53 -1.46 2.66 0.055    
EBITDA Growth % ... 1.29 0.998 0.394 1.16   ...
EBIT Growth % ... 1.11 0.336 -0.757 0.691   ...
Pre-Tax Profit Growth % ... -3.14 1.12 0.504 < -0.001   ...
Net Profit Growth % ... -2.71 1.96 1.29 -0.256   ...
ratios              
ROE % 18.8 19.8 21.3 20.5 19.4   ...
ROCE % ... 31.6 29.6 28.3 27.5   ...
Gross Margin % 36.6 36.6 34.6 34.5 33.3   ...
EBITDA Margin % 14.2 14.0 13.4 13.2 12.8   ...
EBIT Margin % 11.9 11.6 11.1 10.8 10.4   ...
Net Margin % 10.6 10.0 9.71 9.64 9.22   ...
Payout Ratio % 68.4 182 74.0 73.2 73.6   ...
Cost of Financing % ... -2,852 -2,605 -2,926 -2,606   ...
Net Debt/EBITDA -0.005 -0.012 -0.004 -0.012 -0.006   ...
balance sheet Unit 2009 2010 2011 2012 2013 2014 2015
balance sheet              
Non-Current Assets CZK mil 1,025 1,215 1,221 1,274 1,281   ...
Property, Plant & Equipment CZK mil 634 659 693 700 681   ...
Intangible Assets CZK mil 31.8 30.3 26.1 24.8 16.3   ...
Current Assets CZK mil 2,540 2,122 2,274 2,362 2,585   ...
Inventories CZK mil 38.9 37.3 49.3 42.3 37.8   ...
Receivables CZK mil 332 360 350 367 357   ...
Cash & Cash Equivalents CZK mil 3.83 8.31 3.51 8.05 4.84   ...
Total Assets CZK mil 3,568 3,339 3,498 3,638 3,869   ...
Shareholders' Equity CZK mil 2,202 1,871 1,977 2,088 2,198   ...
Of Which Minority Interest CZK mil 0 0 0 0 0   ...
Liabilities CZK mil 1,366 1,468 1,521 1,550 1,671   ...
Non-Current Liabilities CZK mil 29.0 27.4 34.7 35.6 36.1   ...
Long-Term Debt CZK mil 0 0 0 0 0   ...
Deferred Tax Liabilities CZK mil 29.0 27.4 34.7 35.6 36.1   ...
Current Liabilities CZK mil 1,315 1,405 1,465 1,487 1,607   ...
Short-Term Debt CZK mil 0.866 1.35 1.39 1.47 1.49   ...
Trade Payables CZK mil 211 250 211 155 189   ...
Provisions CZK mil 21.9 33.1 20.2 26.4 26.7   ...
Equity And Liabilities CZK mil 3,568 3,339 3,498 3,638 3,869   ...
growth rates              
Total Asset Growth % ... -6.39 4.74 4.02 6.35   ...
Shareholders' Equity Growth % ... -15.0 5.67 5.63 5.25   ...
Net Debt Growth % ... 135 -69.5 210 -49.1   ...
Total Debt Growth % ... 55.8 2.67 5.85 1.50   ...
ratios              
Total Debt CZK mil 0.866 1.35 1.39 1.47 1.49   ...
Net Debt CZK mil -2.97 -6.96 -2.12 -6.59 -3.35   ...
Working Capital CZK mil 160 148 188 255 205   ...
Capital Employed CZK mil 1,185 1,363 1,409 1,529 1,486   ...
Net Debt/Equity -0.001 -0.004 -0.001 -0.003 -0.002   ...
Cost of Financing % ... -2,852 -2,605 -2,926 -2,606   ...
cash flow Unit 2009 2010 2011 2012 2013 2014 2015
cash flow              
Net Profit CZK mil 414 403 411 416 415   ...
Depreciation CZK mil 90.6 92.6 96.6 102 106   ...
Non-Cash Items CZK mil ... 499 -4.92 63.4 52.4   ...
Change in Working Capital CZK mil ... 12.7 -40.1 -67.3 50.2   ...
Total Cash From Operations CZK mil 357 1,007 462 514 623   ...
Capital Expenditures CZK mil -111 -120 -136 -121 -87.7   ...
Other Investments CZK mil 40.5 -149 -26.6 -93.9 -233   ...
Total Cash From Investing CZK mil -70.8 -269 -162 -215 -321   ...
Dividends Paid CZK mil -283 -733 -304 -305 -305   ...
Issuance Of Debt CZK mil ... 0.483 0.036 0.081 0.022   ...
Total Cash From Financing CZK mil -284 -733 -305 -300 -305   ...
Net Change In Cash CZK mil 2.19 4.48 -4.80 -0.172 -2.72   ...
ratios              
Days Sales Outstanding days 31.1 32.8 30.2 31.1 28.9   ...
Days Sales Of Inventory days 5.74 5.36 6.50 5.46 4.60   ...
Days Payable Outstanding days 31.1 35.9 27.9 20.0 23.0   ...
Cash Conversion Cycle days 5.75 2.24 8.81 16.6 10.5   ...
Cash Earnings CZK mil 505 495 507 518 521   ...
Free Cash Flow CZK mil 286 738 300 300 303   ...
other data Unit 2009 2010 2011 2012 2013 2014 2015
other data              
ROA % 11.6 11.7 12.0 11.7 11.1   ...
Gross Margin % 36.6 36.6 34.6 34.5 33.3   ...
Employees 1,747 1,741 1,726 1,728 1,713   ...
Cost Per Employee USD per month 1,860 1,921 2,151 1,985 2,046   ...
Cost Per Employee (Local Currency) CZK per month 35,451 36,719 38,041 38,821 40,023   ...
Staff Cost (As % Of Total Cost) % 21.6 21.6 21.0 20.9 20.4   ...
Effective Tax Rate % 19.6 19.3 18.6 18.0 18.2   ...
Capital Expenditures (As % of Sales) % 2.86 3.00 3.21 2.80 1.95   ...
Water Produced '000 m3 89,469 86,270 84,890 81,678 78,899   ...

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Severoceske vodovody a kanalizace, a.s. is a Czech Republic-based company which provides comprehensive drinking water production and supply and subsequent drainage and wastewater treatment services. It serves 1.1 million people in the Liberec and Usti regions. The Company has more than 1,700 employees and operates 69 water treatment plants and 222 sewage treatment plants. The operated network length ranks the company among the largest in the country. It is the leader in implementing modern technologies for water treatment and purification.

Finance

Severoceske vodovody a kanalizace has been growing its sales by a year on average in the last 5 years. EBITDA has grown on average by 100% a year during that time to total of in 2015, or of sales. That’s compared to 13.1% average margin seen in last five years.

The company netted in 2015 implying ROE of and ROCE of . Again, the average figures were 20.1% and 28.6%, respectively when looking at the previous 5 years.

Severoceske vodovody a kanalizace’s net debt amounted to at the end of 2015, or of equity. When compared to EBITDA, net debt was x, up when compared to average of -0.006x seen in the last 5 years.