Stora Enso Wood Products Zdirec

SEWPZ's net profit rose 2.42% yoy to CZK 590 mil in 2019

By Helgi Analytics - December 4, 2020

Stora Enso Wood Products Zdirec made a net profit of CZK 590 mil with revenues of CZK 4,333 mil in 2019, up by 2.42% and ...

SEWPZ's employees rose 7.67% yoy to 618 in 2019

By Helgi Analytics - December 4, 2020

Stora Enso Wood Products Zdirec employed 618 employees in 2019, up 7.67% compared to the previous year. Historically, betwee...

SEWPZ's Net Margin rose 14.6% yoy to 13.6% in 2019

By Helgi Analytics - December 4, 2020

Stora Enso Wood Products Zdirec made a net profit of CZK 590 mil with revenues of CZK 4,333 mil in 2019, up by 2.42% and down by...

Profit Statement 2017 2018 2019
Sales CZK mil 4,891 4,847 4,333
Gross Profit CZK mil 477 1,250 1,241
EBITDA CZK mil 500 703 723
EBIT CZK mil 424 641 669
Financing Cost CZK mil 2.58 2.27 0.457
Pre-Tax Profit CZK mil 536 702 720
Net Profit CZK mil 479 576 590
Dividends CZK mil 479 576 ...
Balance Sheet 2017 2018 2019
Total Assets CZK mil 1,829 1,794 1,720
Non-Current Assets CZK mil 928 883 857
Current Assets CZK mil 894 906 857
Working Capital CZK mil 173 461 457
Shareholders' Equity CZK mil 917 1,014 1,028
Liabilities CZK mil 913 781 692
Total Debt CZK mil 150 2.31 2.61
Net Debt CZK mil -68.1 -216 -216
Ratios 2017 2018 2019
ROE % 58.9 59.7 57.8
ROCE % 42.8 47.1 44.4
Gross Margin % 9.74 25.8 28.6
EBITDA Margin % 10.2 14.5 16.7
EBIT Margin % 8.66 13.2 15.4
Net Margin % 9.79 11.9 13.6
Net Debt/EBITDA -0.136 -0.307 -0.298
Net Debt/Equity % -7.43 -21.3 -21.0
Cost of Financing % 1.24 2.98 18.6
Cash Flow 2017 2018 2019
Total Cash From Operations CZK mil 427 642 601
Total Cash From Investing CZK mil -44.6 -13.1 -24.6
Total Cash From Financing CZK mil -386 -629 -576
Net Change In Cash CZK mil -3.51 0.087 0.061
Cash Conversion Cycle days 9.97 29.0 31.6
Cash Earnings CZK mil 555 638 645
Free Cash Flow CZK mil 383 629 576

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overview Unit 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
income statement                          
Sales CZK mil             5,223 5,864 5,438 4,563 4,891    
Gross Profit CZK mil             568 650 596 436 477    
EBIT CZK mil             212 274 228 334 424    
Net Profit CZK mil             259 387 317 335 479    
                             
ROE %             31.1 44.4 39.4 47.8 58.9    
EBIT Margin %             4.06 4.68 4.19 7.32 8.66    
Net Margin %             4.96 6.59 5.83 7.35 9.79    
Employees             473 463 471 547 549    
balance sheet                          
Total Assets CZK mil             1,852 2,091 1,899 1,879 1,829    
Non-Current Assets CZK mil             935 1,038 1,035 976 928    
Current Assets CZK mil             917 1,053 863 903 894    
                             
Shareholders' Equity CZK mil             829 914 695 708 917    
Liabilities CZK mil             1,023 1,177 1,204 1,171 913    
Non-Current Liabilities CZK mil             29.0 28.8 33.2 34.2 31.1    
Current Liabilities CZK mil             977 1,082 1,138 1,095 839    
                             
Net Debt/EBITDA             0.182 0.144 0.646 0.108 -0.136    
Net Debt/Equity %             6.04 5.49 28.1 6.31 -7.43    
Cost of Financing % ... ... ... ... ... ... ... ... ... 1.03 1.24    
cash flow                          
Total Cash From Operations CZK mil             395 407 469 490 427    
Total Cash From Investing CZK mil             -159 -166 -78.3 -22.4 -44.6    
Total Cash From Financing CZK mil             -237 -241 -391 -465 -386    
Net Change In Cash CZK mil             -0.711 0.168 -0.023 3.09 -3.51    
income statement Unit 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
income statement                          
Sales CZK mil             5,223 5,864 5,438 4,563 4,891    
Cost of Goods & Services CZK mil             4,655 5,215 4,842 4,127 4,414    
Gross Profit CZK mil             568 650 596 436 477    
Staff Cost CZK mil             274 273 280 344 402    
Other Operating Cost (Income) CZK mil             18.6 27.1 13.9 -319 -425    
EBITDA CZK mil             275 349 302 412 500    
Depreciation CZK mil             63.2 75.0 74.4 77.8 76.8    
EBIT CZK mil             212 274 228 334 424    
Net Financing Cost CZK mil             -71.2 -152 -126 -48.6 -112    
Financing Cost CZK mil ... ... ... ... ... ... ... ... ... 3.51 2.58    
Extraordinary Cost CZK mil             0 0 0 0 0    
Pre-Tax Profit CZK mil             283 426 354 382 536    
Tax CZK mil             24.4 39.7 36.8 47.1 57.3    
Minorities CZK mil             0 0 0 ... ... ... ...
Net Profit CZK mil             259 387 317 335 479    
Net Profit Avail. to Common CZK mil             259 387 317 335 479    
Dividends CZK mil             257 302 536 270 479   ...
growth rates                          
Total Revenue Growth % ...           8.66 12.3 -7.27 -16.1 7.19    
Staff Cost Growth % ...           16.5 -0.375 2.52 22.8 16.9    
EBITDA Growth % ...           172 27.0 -13.5 36.2 21.5    
EBIT Growth % ...           355 29.4 -17.0 46.5 26.9    
Pre-Tax Profit Growth % ...           186 50.4 -16.9 8.04 40.1    
Net Profit Growth % ...           177 49.3 -17.9 5.74 42.7    
ratios                          
ROE %             31.1 44.4 39.4 47.8 58.9    
ROA %             14.5 19.6 15.9 17.8 25.8    
ROCE % ...           22.4 30.0 24.5 28.3 42.8    
Gross Margin %             10.9 11.1 11.0 9.55 9.74    
EBITDA Margin %             5.27 5.96 5.56 9.02 10.2    
EBIT Margin %             4.06 4.68 4.19 7.32 8.66    
Net Margin %             4.96 6.59 5.83 7.35 9.79    
Payout Ratio %             99.3 78.1 169 80.5 100   ...
Cost of Financing % ... ... ... ... ... ... ... ... ... 1.03 1.24    
Net Debt/EBITDA             0.182 0.144 0.646 0.108 -0.136    
balance sheet Unit 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
balance sheet                          
Cash & Cash Equivalents CZK mil             0.415 0.583 0.560 3.65 0.141    
Receivables CZK mil             565 639 426 621 540    
Inventories CZK mil             226 279 334 115 146    
Other ST Assets CZK mil             126 135 102 163 207    
Current Assets CZK mil             917 1,053 863 903 894    
Property, Plant & Equipment CZK mil             768 813 812 756 709    
LT Investments & Receivables CZK mil             157 218 218 218 218    
Intangible Assets CZK mil             9.67 7.19 4.71 2.97 1.65    
Goodwill CZK mil             0 0 0 0 0    
Non-Current Assets CZK mil             935 1,038 1,035 976 928    
Total Assets CZK mil             1,852 2,091 1,899 1,879 1,829    
                             
Trade Payables CZK mil             499 607 557 578 513    
Short-Term Debt CZK mil             208 269 414 266 150    
Other ST Liabilities CZK mil             270 207 167 251 176    
Current Liabilities CZK mil             977 1,082 1,138 1,095 839    
Long-Term Debt CZK mil             0 0 0 0 0    
Other LT Liabilities CZK mil             29.0 28.8 33.2 34.2 31.1    
Non-Current Liabilities CZK mil             29.0 28.8 33.2 34.2 31.1    
Liabilities CZK mil             1,023 1,177 1,204 1,171 913    
Equity Before Minority Interest CZK mil             829 914 695 708 917    
Minority Interest CZK mil             0 0 0 0 0    
Equity CZK mil             829 914 695 708 917    
growth rates                          
Total Asset Growth % ...           7.52 12.9 -9.17 -1.05 -2.65    
Shareholders' Equity Growth % ...           -0.470 10.2 -23.9 1.85 29.5    
Net Debt Growth % ...           -261 0.282 289 -77.1 -253    
Total Debt Growth % ... ... ... ... ...   10.6 29.3 54.0 -35.7 -43.7    
ratios                          
Total Debt CZK mil             208 269 414 266 150    
Net Debt CZK mil             50.1 50.2 195 44.6 -68.1    
Working Capital CZK mil             292 311 204 158 173    
Capital Employed CZK mil             1,227 1,348 1,238 1,134 1,101    
Net Debt/Equity %             6.04 5.49 28.1 6.31 -7.43    
Current Ratio             0.939 0.973 0.759 0.824 1.06    
Quick Ratio             0.579 0.591 0.375 0.570 0.643    
cash flow Unit 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
cash flow                          
Net Profit CZK mil             259 387 317 335 479    
Depreciation CZK mil             63.2 75.0 74.4 77.8 76.8    
Non-Cash Items CZK mil ...           127 -35.6 -29.1 31.0 -113    
Change in Working Capital CZK mil ...           -54.1 -18.7 107 46.0 -15.3    
Total Cash From Operations CZK mil             395 407 469 490 427    
                             
Capital Expenditures CZK mil             -159 -167 -80.3 -23.0 -31.4    
Other Investing Activities CZK mil             0.437 0.603 1.94 0.606 -13.2    
Total Cash From Investing CZK mil             -159 -166 -78.3 -22.4 -44.6    
                             
Dividends Paid CZK mil ... ... ... ... ... ... ... ... ... -317 -270    
Issuance Of Shares CZK mil ... ... ... ... ... ... ... ... ... ... ...    
Issuance Of Debt CZK mil ...           19.9 60.9 145 -148 -116    
Other Financing Activities CZK mil ... ... ... ... ... ... ... ... ... 22.4 44.6    
Total Cash From Financing CZK mil             -237 -241 -391 -465 -386    
Net Change In Cash CZK mil             -0.711 0.168 -0.023 3.09 -3.51    
ratios                          
Days Sales Outstanding days             39.5 39.8 28.6 49.6 40.3    
Days Sales Of Inventory days             17.7 19.5 25.2 10.2 12.1    
Days Payable Outstanding days             39.1 42.5 42.0 51.1 42.4    
Cash Conversion Cycle days             18.1 16.8 11.9 8.72 9.97    
Cash Earnings CZK mil             322 461 392 413 555    
Free Cash Flow CZK mil             236 241 391 468 383    
Capital Expenditures (As % of Sales) %             3.04 2.84 1.48 0.504 0.642    
other ratios Unit 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
                           
Employees             473 463 471 547 549    
Cost Per Employee USD per month             2,468 2,299 2,075 2,075 2,598    
Cost Per Employee (Local Currency) CZK per month             48,282 49,140 49,520 52,347 60,953    
Material & Energy (As % of Sales) % ... ... ... ... ... ... ... ... ... 71.7 71.0    
Services (As % of Sales) % ... ... ... ... ... ... ... ... ... 18.7 19.3    
Staff Cost (As % of Sales) %             5.25 4.66 5.15 7.53 8.21    
Effective Tax Rate %             8.63 9.30 10.4 12.3 10.7    
Total Revenue Growth (5-year average) % ... ... ... ... ...   7.29 13.9 11.1 5.67 0.347    
Total Revenue Growth (10-year average) % ... ... ... ... ... ... ... ... ... ... 1.40    

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SEWPZ's ROCE fell 5.77% yoy to 44.4% in 2019

By Helgi Analytics - December 4, 2020

Stora Enso Wood Products Zdirec made a net profit of CZK 590 mil in 2019, up 2.42% compared to the previous year. Historically, between 2007 and 2019, the company's net profit reached a high of CZK 590 mil in 2019 and a low of CZK -6.88 mil in 2008. The r...

SEWPZ's Total Cash From Operations fell 6.42% yoy to CZK 601 mil in 2019

By Helgi Analytics - December 4, 2020

Stora Enso Wood Products Zdirec's operating cash flow stood at CZK 601 mil in 2019, down 6.42% when compared to the previous year. Historically, between 2007 - 2019, the firm’s operating cash flow reached a high of CZK 642 mil in 2018 and a low of CZK ...

SEWPZ's Cash & Cash Equivalents rose 26.8% yoy to CZK 0.289 mil in 2019

By Helgi Analytics - December 4, 2020

Stora Enso Wood Products Zdirec's total assets reached CZK 1,720 mil at the end of 2019, down 4.17% compared to the previous year. Current assets amounted to CZK 857 mil, or 49.9% of total assets while cash stood at CZK 0.289 mil at the end...

SEWPZ's Net Debt/EBITDA rose 2.87% yoy to -0.298 in 2019

By Helgi Analytics - December 4, 2020

Stora Enso Wood Products Zdirec's net debt stood at CZK -216 mil and accounted for -21.0% of equity at the end of 2019. The ratio is up 0.311 pp compared to the previous year. Historically, the firm’s net debt to equity reached a high of 28.1% in 201...

SEWPZ's Capital Expenditures fell 78.8% yoy to CZK 26.1 mil in 2019

By Helgi Analytics - December 4, 2020

Stora Enso Wood Products Zdirec invested a total of CZK 26.1 mil in 2019, up 78.8% compared to the previous year. Historically, between 2007 - 2019, the company's investments stood at a high of CZK 233 mil in 2011 and a low of CZK 3.39 mil i...

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Stora Enso Wood Products Zdirec, s.r.o. is a Czech Republic-based subsidiary of Stora Enso. Stora Enso is a leading provider of renewable solutions in packaging, biomaterials, wood and paper on global markets. The Group employs some 26,000 people and is publicly listed in Helsinki and Stockholm.

Stora Enso Wood Products Zdirec Logo

Finance

Stora Enso Wood Products Zdirec has been growing its sales by -5.87% a year on average in the last 5 years. EBITDA has grown on average by 15.7% a year during that time to total of CZK 723 mil in 2019, or 16.7% of sales. That’s compared to 11.2% average margin seen in last five years.

The company netted CZK 590 mil in 2019 implying ROE of 57.8% and ROCE of 44.4%. Again, the average figures were 52.7% and 37.4%, respectively when looking at the previous 5 years.

Stora Enso Wood Products Zdirec’s net debt amounted to CZK -216 mil at the end of 2019, or -21.0% of equity. When compared to EBITDA, net debt was -0.298x, down when compared to average of 0.003x seen in the last 5 years.

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