Shell Czech Republic

Shell CR's Cash & Cash Equivalents rose 3.73% yoy to CZK 12.3 mil in 2015

By Helgi Analytics - April 2, 2020

Shell Czech Republic's total assets reached CZK 4,837 mil at the end of 2015, up 6.94% compared to the previous year. ...

Profit Statement 2013 2014 2015
Sales CZK mil 41,508 22,909 17,231
Gross Profit CZK mil -216 552 851
EBITDA CZK mil -456 556 644
EBIT CZK mil -715 313 435
Financing Cost CZK mil 144 36.2 37.4
Pre-Tax Profit CZK mil -859 277 398
Net Profit CZK mil -771 277 338
Dividends CZK mil 0 0 ...
Balance Sheet 2013 2014 2015
Total Assets CZK mil 7,534 4,523 4,837
Non-Current Assets CZK mil 1,914 1,802 1,818
Current Assets CZK mil 5,456 2,594 2,896
Working Capital CZK mil 3,757 770 -270
Shareholders' Equity CZK mil 1,749 2,026 2,364
Liabilities CZK mil 5,785 2,497 2,473
Total Debt CZK mil 1,080 207 230
Net Debt CZK mil 1,020 196 217
Ratios 2013 2014 2015
ROE % -36.1 14.7 15.4
ROCE % -13.1 6.72 16.4
Gross Margin % -0.520 2.41 4.94
EBITDA Margin % -1.10 2.43 3.74
EBIT Margin % -1.72 1.37 2.52
Net Margin % -1.86 1.21 1.96
Net Debt/EBITDA -2.24 0.352 0.337
Net Debt/Equity 0.583 0.097 0.092
Cost of Financing % 20.6 5.62 17.1
Cash Flow 2013 2014 2015
Total Cash From Operations CZK mil -957 1,621 775
Total Cash From Investing CZK mil -51.1 -103 -213
Total Cash From Financing CZK mil 0 2.20 0.468
Net Change In Cash CZK mil -1,008 1,520 562
Cash Conversion Cycle days 33.0 12.1 -7.07
Cash Earnings CZK mil -512 520 547
Free Cash Flow CZK mil -1,008 1,518 562

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summary Unit 2007 2008 2009 2010 2011 2012 2013 2014 2015
income statement                  
Sales CZK mil     35,556 40,178 40,679 47,643 41,508    
Gross Profit CZK mil     753 1,090 296 241 -216    
EBIT CZK mil     45.5 379 -335 -308 -715    
Net Profit CZK mil     64.0 224 -302 -277 -771    
ROE %     1.87 6.94 -9.90 -10.4 -36.1    
EBIT Margin %     0.128 0.944 -0.822 -0.646 -1.72    
Net Margin %     0.180 0.558 -0.743 -0.582 -1.86    
Employees     229 224 182 157 107    
balance sheet                  
Total Assets CZK mil     7,303 7,104 7,715 9,138 7,534    
Non-Current Assets CZK mil     2,655 2,478 2,310 2,167 1,914    
Current Assets CZK mil     4,281 4,259 5,082 6,711 5,456    
Shareholders' Equity CZK mil     3,149 3,312 2,797 2,520 1,749    
Liabilities CZK mil     4,154 3,791 4,918 6,619 5,785    
Non-Current Liabilities CZK mil     112 109 109 109 0    
Current Liabilities CZK mil     3,880 3,441 4,515 6,232 5,489    
Net Debt/EBITDA     1.33 0.478 -3.98 -4.70 -2.24    
Net Debt/Equity     0.138 0.092 0.107 0.096 0.583    
Cost of Financing % ...   -6.56 22.5 7.02 -9.78 20.6    
cash flow                  
Total Cash From Operations CZK mil     789 45.0 533 -234 -957    
Total Cash From Investing CZK mil     -101 -92.1 -84.3 -109 -51.1    
Total Cash From Financing CZK mil     -1,437 -58.4 -213 -0.085 0    
Net Change In Cash CZK mil     -749 -105 235 -343 -1,008    
income statement Unit 2007 2008 2009 2010 2011 2012 2013 2014 2015
income statement                  
Sales CZK mil     35,556 40,178 40,679 47,643 41,508    
Cost of Goods & Services CZK mil     34,804 39,087 40,383 47,402 41,724    
Gross Profit CZK mil     753 1,090 296 241 -216    
Staff Cost CZK mil     307 335 294 248 191    
Other Cost CZK mil     119 121 76.6 44.6 49.2    
EBITDA CZK mil     327 634 -75.0 -51.2 -456    
Depreciation CZK mil     281 255 260 256 259    
EBIT CZK mil     45.5 379 -335 -308 -715    
Financing Cost CZK mil     -52.3 87.0 22.0 -30.5 144    
Extraordinary Cost CZK mil     0 0 0 0 0    
Pre-Tax Profit CZK mil     97.8 292 -357 -277 -859    
Tax CZK mil     33.9 68.2 -54.1 0.093 -88.6    
Minorities CZK mil     0 0 0 0 0    
Net Profit CZK mil     64.0 224 -302 -277 -771    
Dividends CZK mil     617 60.8 213 0 0   ...
growth rates                  
Total Revenue Growth % ...   -29.3 13.0 1.25 17.1 -12.9    
Operating Cost Growth % ...   209 7.14 -18.7 -21.2 -17.7    
EBITDA Growth % ...   -71.9 94.0 -112 -31.7 791    
EBIT Growth % ...   -94.6 734 -188 -8.02 132    
Pre-Tax Profit Growth % ...   -88.3 199 -222 -22.2 210    
Net Profit Growth % ...   -90.1 250 -235 -8.31 178    
ratios                  
ROE %     1.87 6.94 -9.90 -10.4 -36.1    
ROCE % ...   1.29 4.42 -6.00 -5.08 -13.1    
Gross Margin %     2.12 2.71 0.727 0.506 -0.520    
EBITDA Margin %     0.919 1.58 -0.184 -0.108 -1.10    
EBIT Margin %     0.128 0.944 -0.822 -0.646 -1.72    
Net Margin %     0.180 0.558 -0.743 -0.582 -1.86    
Payout Ratio %     964 27.1 -70.4 0 0   ...
Cost of Financing % ...   -6.56 22.5 7.02 -9.78 20.6    
Net Debt/EBITDA     1.33 0.478 -3.98 -4.70 -2.24    
balance sheet Unit 2007 2008 2009 2010 2011 2012 2013 2014 2015
balance sheet                  
Non-Current Assets CZK mil     2,655 2,478 2,310 2,167 1,914    
Property, Plant & Equipment CZK mil     2,653 2,476 2,278 2,149 1,913    
Intangible Assets CZK mil     2.15 1.81 32.0 17.2 0.200    
Current Assets CZK mil     4,281 4,259 5,082 6,711 5,456    
Inventories CZK mil     1,711 1,634 1,918 3,295 3,030    
Receivables CZK mil     1,689 1,983 1,826 2,491 2,069    
Cash & Cash Equivalents CZK mil     22.0 12.7 11.3 73.0 59.8    
Total Assets CZK mil     7,303 7,104 7,715 9,138 7,534    
Shareholders' Equity CZK mil     3,149 3,312 2,797 2,520 1,749    
Of Which Minority Interest CZK mil     0 0 0 0 0    
Liabilities CZK mil     4,154 3,791 4,918 6,619 5,785    
Non-Current Liabilities CZK mil     112 109 109 109 0    
Long-Term Debt CZK mil     107 109 109 109 0    
Deferred Tax Liabilities CZK mil     5.25 0 0 0 0    
Current Liabilities CZK mil     3,880 3,441 4,515 6,232 5,489    
Short-Term Debt CZK mil     351 207 201 205 1,080    
Trade Payables CZK mil     1,181 823 1,251 1,837 1,342    
Provisions CZK mil     162 241 294 278 216    
Equity And Liabilities CZK mil     7,303 7,104 7,715 9,138 7,534    
growth rates                  
Total Asset Growth % ...   -15.4 -2.73 8.61 18.5 -17.6    
Shareholders' Equity Growth % ...   -14.9 5.19 -15.6 -9.91 -30.6    
Net Debt Growth % ...   -61.1 -30.4 -1.51 -19.4 324    
Total Debt Growth % ...   -59.7 -31.0 -1.91 1.25 244    
ratios                  
Total Debt CZK mil     458 316 310 314 1,080    
Net Debt CZK mil     436 303 299 241 1,020    
Working Capital CZK mil     2,219 2,795 2,493 3,949 3,757    
Capital Employed CZK mil     4,874 5,272 4,803 6,116 5,671    
Net Debt/Equity     0.138 0.092 0.107 0.096 0.583    
Cost of Financing % ...   -6.56 22.5 7.02 -9.78 20.6    
cash flow Unit 2007 2008 2009 2010 2011 2012 2013 2014 2015
cash flow                  
Net Profit CZK mil     64.0 224 -302 -277 -771    
Depreciation CZK mil     281 255 260 256 259    
Non-Cash Items CZK mil ...   439 142 274 1,244 -637    
Change in Working Capital CZK mil ...   4.32 -576 302 -1,456 192    
Total Cash From Operations CZK mil     789 45.0 533 -234 -957    
Capital Expenditures CZK mil     -101 -92.1 -84.3 -109 -51.1    
Other Investments CZK mil     0 0 0 0 0    
Total Cash From Investing CZK mil     -101 -92.1 -84.3 -109 -51.1    
Dividends Paid CZK mil     -617 -60.8 -213 0 0   ...
Issuance Of Debt CZK mil ...   -679 -142 -6.03 3.87 766    
Total Cash From Financing CZK mil     -1,437 -58.4 -213 -0.085 0    
Net Change In Cash CZK mil     -749 -105 235 -343 -1,008    
ratios                  
Days Sales Outstanding days     17.3 18.0 16.4 19.1 18.2    
Days Sales Of Inventory days     17.9 15.3 17.3 25.4 26.5    
Days Payable Outstanding days     12.4 7.68 11.3 14.1 11.7    
Cash Conversion Cycle days     22.9 25.6 22.4 30.3 33.0    
Cash Earnings CZK mil     345 479 -42.9 -20.8 -512    
Free Cash Flow CZK mil     688 -47.1 448 -343 -1,008    
other data Unit 2007 2008 2009 2010 2011 2012 2013 2014 2015
other data                  
ROA %     0.803 3.11 -4.08 -3.29 -9.24    
Gross Margin %     2.12 2.71 0.727 0.506 -0.520    
Employees     229 224 182 157 107    
Cost Per Employee USD per month     5,854 6,524 7,615 6,719 7,616    
Cost Per Employee (Local Currency) CZK per month     111,564 124,683 134,674 131,418 149,017    
Staff Cost (As % Of Total Cost) %     0.863 0.842 0.717 0.516 0.453    
Effective Tax Rate %     34.6 23.3 15.2 -0.034 10.3    
Capital Expenditures (As % of Sales) %     0.283 0.229 0.207 0.229 0.123    
Number of Gas Stations ...   181 185 183 180 175    
Sales of Fuels CZK mil     24,981 28,519 29,977 33,659 29,032    

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Shell Czech Republic, a.s. is a Czech Republic-based subsidiary of the Shell Group. The Czech subsidiary was founded in 1991 and did take part in privatization of Czech Republic's refineries. The Czech operations are split into Aviation Division, Division of Commercial Fleet, Bitumen Division and Retail.

Finance

Shell Czech Republic has been growing its sales by a year on average in the last 5 years. EBITDA has grown on average by 0.323% a year during that time to total of CZK 644 mil in 2015, or 3.74% of sales. That’s compared to 0.955% average margin seen in last five years.

The company netted CZK 338 mil in 2015 implying ROE of 15.4% and ROCE of 16.4%. Again, the average figures were -5.28% and -0.210%, respectively when looking at the previous 5 years.

Shell Czech Republic’s net debt amounted to CZK 217 mil at the end of 2015, or 0.092 of equity. When compared to EBITDA, net debt was 0.337x, up when compared to average of -2.05x seen in the last 5 years.