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Sulko

Sulko's employees fell 0.862% yoy to 115 in 2019

By Helgi Library - December 4, 2021

Sulko employed 115 employees in 2019, down 0.862% compared to the previous year. Historically, between 2006 and 2019, ...

Sulko's net profit fell 2.21% yoy to CZK 1.50 mil in 2019

By Helgi Library - December 4, 2021

Sulko made a net profit of CZK 1.50 mil with revenues of CZK 530 mil in 2019, down by 2.21% and up by 7.72%, respecti...

Sulko's Cash & Cash Equivalents rose 38.1% yoy to CZK 43.9 mil in 2019

By Helgi Library - December 4, 2021

Sulko's total assets reached CZK 193 mil at the end of 2019, up 11.9% compared to the previous year. Current asset...

Profit Statement 2017 2018 2019
Sales CZK mil 469 492 530
Gross Profit CZK mil 54.4 63.7 82.1
EBITDA CZK mil 13.6 2.74 10.3
EBIT CZK mil 10.6 0.500 7.52
Financing Cost CZK mil 0.578 0.894 1.07
Pre-Tax Profit CZK mil 7.52 0.993 5.99
Net Profit CZK mil 7.19 1.54 1.50
Dividends CZK mil 4.71 -0.001 0.473
Balance Sheet 2017 2018 2019
Total Assets CZK mil 181 173 193
Non-Current Assets CZK mil 17.2 22.0 25.0
Current Assets CZK mil 162 150 167
Working Capital CZK mil 22.1 28.9 22.6
Shareholders' Equity CZK mil 15.2 16.7 17.7
Liabilities CZK mil 166 156 176
Total Debt CZK mil 62.2 48.0 57.2
Net Debt CZK mil 15.0 16.3 13.4
Ratios 2017 2018 2019
ROE % 51.6 9.62 8.71
ROCE % 12.3 3.41 3.05
Gross Margin % 11.6 13.0 15.5
EBITDA Margin % 2.89 0.557 1.95
EBIT Margin % 2.25 0.102 1.42
Net Margin % 1.53 0.312 0.283
Net Debt/EBITDA 1.11 5.94 1.29
Net Debt/Equity % 99.0 97.2 75.3
Cost of Financing % 1.03 1.62 2.03
Cash Flow 2017 2018 2019
Total Cash From Operations CZK mil 7.54 -12.7 18.0
Total Cash From Investing CZK mil 24.2 -6.87 -5.67
Total Cash From Financing CZK mil -1.44 4.26 -0.274
Net Change In Cash CZK mil 30.3 -15.3 12.1
Cash Conversion Cycle days 8.87 14.2 4.84
Cash Earnings CZK mil 10.2 3.77 4.31
Free Cash Flow CZK mil 31.7 -19.6 12.4

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overview Unit 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
income statement                            
Sales CZK mil               707 648 547 406 469    
Gross Profit CZK mil               62.6 70.1 33.6 35.9 54.4    
EBIT CZK mil               -18.0 0.995 -59.0 -29.7 10.6    
Net Profit CZK mil               -15.7 2.95 -54.4 -29.9 7.19    
                               
ROE %               -11.0 2.19 -61.8 -113 51.6    
EBIT Margin %               -2.55 0.153 -10.8 -7.30 2.25    
Net Margin %               -2.22 0.454 -9.93 -7.36 1.53    
Employees               186 165 152 137 113    
balance sheet                            
Total Assets CZK mil               438 393 242 174 181    
Non-Current Assets CZK mil               36.2 33.1 29.3 28.4 17.2    
Current Assets CZK mil               392 351 206 142 162    
                               
Shareholders' Equity CZK mil               133 136 40.2 12.7 15.2    
Liabilities CZK mil               305 258 201 161 166    
Non-Current Liabilities CZK mil               6.53 7.20 4.79 2.37 0.930    
Current Liabilities CZK mil               298 250 197 133 161    
                               
Net Debt/EBITDA               1.64 -12.3 0.710 -1.21 1.11    
Net Debt/Equity %               -18.2 -37.0 -99.2 258 99.0    
Cost of Financing % ... ... ... ... ... ... ... ... 0.855 2.15 1.53 1.03    
cash flow                            
Total Cash From Operations CZK mil ...             9.61 15.5 -37.6 -57.4 7.54    
Total Cash From Investing CZK mil ...             1.27 0.060 0.903 -1.71 24.2    
Total Cash From Financing CZK mil ... ...           -27.2 -18.5 -13.0 -5.97 -1.44    
Net Change In Cash CZK mil ...             -22.2 10.1 -22.9 -37.0 30.3    
income statement Unit 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
income statement                            
Sales CZK mil               707 648 547 406 469    
Cost of Goods & Services CZK mil               644 578 514 371 415    
Gross Profit CZK mil               62.6 70.1 33.6 35.9 54.4    
Staff Cost CZK mil               76.5 71.1 73.2 68.8 58.3    
Other Operating Cost (Income) CZK mil               0.779 -5.15 16.6 -5.85 -17.5    
EBITDA CZK mil               -14.7 4.07 -56.2 -27.0 13.6    
Depreciation CZK mil               3.25 3.08 2.84 2.62 3.02    
EBIT CZK mil               -18.0 0.995 -59.0 -29.7 10.6    
Net Financing Cost CZK mil               0.289 -2.42 1.13 0.420 3.03    
Financing Cost CZK mil ... ... ... ... ... ... ... ... 0.301 0.445 0.488 0.578    
Financing Income CZK mil ... ... ... ... ... ... ... ... 0.292 0.166 0.871 0.489    
Extraordinary Cost CZK mil               0 0 0 0 0    
Pre-Tax Profit CZK mil               -18.3 3.42 -60.2 -30.1 7.52    
Tax CZK mil               -2.62 0.473 -5.78 -0.157 0.333    
Minorities CZK mil               0 0 0 0 0    
Net Profit CZK mil               -15.7 2.95 -54.4 -29.9 7.19    
Net Profit Avail. to Common CZK mil               -15.7 2.95 -54.4 -29.9 7.19    
Dividends CZK mil ...             2.44 0.001 41.3 -2.44 4.71    
growth rates                            
Total Revenue Growth % ...             -7.22 -8.24 -15.6 -25.8 15.4    
Staff Cost Growth % ...             -38.1 -7.06 2.83 -5.95 -15.3    
EBITDA Growth % ...             -79.6 -128 -1,479 -51.9 -150    
EBIT Growth % ...             -76.6 -106 -6,032 -49.7 -136    
Pre-Tax Profit Growth % ...             -76.4 -119 -1,859 -50.0 -125    
Net Profit Growth % ...             -75.4 -119 -1,946 -45.0 -124    
ratios                            
ROE %               -11.0 2.19 -61.8 -113 51.6    
ROA %               -3.53 0.709 -17.1 -14.4 4.05    
ROCE % ...             -16.9 4.05 -94.3 -47.2 12.3    
Gross Margin %               8.86 10.8 6.14 8.84 11.6    
EBITDA Margin %               -2.09 0.628 -10.3 -6.65 2.89    
EBIT Margin %               -2.55 0.153 -10.8 -7.30 2.25    
Net Margin %               -2.22 0.454 -9.93 -7.36 1.53    
Payout Ratio % ...             -15.6 0.034 -76.0 8.16 65.5    
Cost of Financing % ... ... ... ... ... ... ... ... 0.855 2.15 1.53 1.03    
Net Debt/EBITDA               1.64 -12.3 0.710 -1.21 1.11    
balance sheet Unit 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
balance sheet                            
Cash & Cash Equivalents CZK mil               66.7 76.8 53.9 16.8 47.1    
Receivables CZK mil               234 198 139 114 104    
Inventories CZK mil               52.1 34.6 13.3 11.6 11.1    
Other ST Assets CZK mil               39.1 42.0 0 0 0    
Current Assets CZK mil               392 351 206 142 162    
Property, Plant & Equipment CZK mil               33.5 31.0 28.4 26.4 16.5    
LT Investments & Receivables CZK mil               0.716 0.716 0.210 0.010 0.010    
Intangible Assets CZK mil               1.99 1.33 0.688 2.02 0.670    
Goodwill CZK mil               0 0 0 0 0    
Non-Current Assets CZK mil               36.2 33.1 29.3 28.4 17.2    
Total Assets CZK mil               438 393 242 174 181    
                               
Trade Payables CZK mil               243 199 133 75.6 92.5    
Short-Term Debt CZK mil               36.7 20.0 14.2 49.6 62.2    
Other ST Liabilities CZK mil               18.6 31.6 49.9 7.66 6.14    
Current Liabilities CZK mil               298 250 197 133 161    
Long-Term Debt CZK mil               6.53 7.20 0 0 0    
Other LT Liabilities CZK mil               0 0 4.79 2.37 0.930    
Non-Current Liabilities CZK mil               6.53 7.20 4.79 2.37 0.930    
Liabilities CZK mil               305 258 201 161 166    
Equity Before Minority Interest CZK mil               133 136 40.2 12.7 15.2    
Minority Interest CZK mil               0 0 0 0 0    
Equity CZK mil               133 136 40.2 12.7 15.2    
growth rates                            
Total Asset Growth % ...             -2.35 -10.1 -38.6 -28.0 4.17    
Shareholders' Equity Growth % ...             -12.0 2.22 -70.4 -68.4 19.5    
Net Debt Growth % ...             26.2 108 -20.7 -182 -54.1    
Total Debt Growth % ...             -38.6 -37.1 -47.7 249 25.4    
ratios                            
Total Debt CZK mil               43.2 27.2 14.2 49.6 62.2    
Net Debt CZK mil               -24.2 -50.3 -39.9 32.7 15.0    
Working Capital CZK mil               42.9 33.5 19.5 49.6 22.1    
Capital Employed CZK mil               79.1 66.5 48.8 78.0 39.3    
Net Debt/Equity %               -18.2 -37.0 -99.2 258 99.0    
Current Ratio               1.31 1.40 1.05 1.07 1.01    
Quick Ratio               1.01 1.10 0.980 0.981 0.936    
cash flow Unit 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
cash flow                            
Net Profit CZK mil               -15.7 2.95 -54.4 -29.9 7.19    
Depreciation CZK mil               3.25 3.08 2.84 2.62 3.02    
Non-Cash Items CZK mil               0 0 0 0 -30.2    
Change in Working Capital CZK mil ...             22.0 9.43 14.0 -30.1 27.5    
Total Cash From Operations CZK mil ...             9.61 15.5 -37.6 -57.4 7.54    
                               
Capital Expenditures CZK mil ...             1.27 0.060 0.903 -1.71 8.18    
Other Investing Activities CZK mil ...             0 0 0 0 16.0    
Total Cash From Investing CZK mil ...             1.27 0.060 0.903 -1.71 24.2    
                               
Dividends Paid CZK mil ... ...           0.001 -2.44 -0.001 -41.3 0    
Issuance Of Shares CZK mil ...             0 0 0 0 0    
Issuance Of Debt CZK mil ...             -27.2 -16.0 -13.0 35.4 -1.44    
Other Financing Activities CZK mil ... ...           -1.27 -0.060 -0.903 1.71 -24.2    
Total Cash From Financing CZK mil ... ...           -27.2 -18.5 -13.0 -5.97 -1.44    
Net Change In Cash CZK mil ...             -22.2 10.1 -22.9 -37.0 30.3    
ratios                            
Days Sales Outstanding days               121 111 92.6 102 80.6    
Days Sales Of Inventory days               29.5 21.8 9.42 11.5 9.78    
Days Payable Outstanding days               138 125 94.2 74.4 81.5    
Cash Conversion Cycle days               12.6 7.65 7.81 39.0 8.87    
Cash Earnings CZK mil               -12.4 6.03 -51.5 -27.3 10.2    
Free Cash Flow CZK mil ...             10.9 15.5 -36.7 -59.1 31.7    
Capital Expenditures (As % of Sales) % ...             -0.179 -0.009 -0.165 0.421 -1.74    
other ratios Unit 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
                             
Employees               186 165 152 137 113    
Cost Per Employee USD per month               1,753 1,681 1,680 1,659 1,831    
Cost Per Employee (Local Currency) CZK per month               34,296 35,933 40,112 41,855 42,965    
Material & Energy (As % of Sales) % ... ... ... ... ... ... ... ... 65.5 71.4 72.4 73.4    
Services (As % of Sales) % ... ... ... ... ... ... ... ... 23.7 22.4 18.8 15.1    
Staff Cost (As % of Sales) %               10.8 11.0 13.4 16.9 12.4    
Effective Tax Rate %               14.4 13.8 9.60 0.522 4.43    
Total Revenue Growth (5-year average) % ... ... ... ... ...     -4.15 -5.71 -8.90 -13.8 -9.24    
Total Revenue Growth (10-year average) % ... ... ... ... ... ... ... ... ... ... -8.15 -6.85    

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Sulko's Net Margin fell 9.23% yoy to 0.283% in 2019

By Helgi Library - December 4, 2021

Sulko made a net profit of CZK 1.50 mil with revenues of CZK 530 mil in 2019, down by 2.21% and up by 7.72%, respectively, compared to the previous year. This translates into a net margin of 0.283%. Historically, between 2006 and 2019, the firm’s ...

Sulko's Total Cash From Operations rose 242% yoy to CZK 18.0 mil in 2019

By Helgi Library - December 4, 2021

Sulko's operating cash flow stood at CZK 18.0 mil in 2019, up 242% when compared to the previous year. Historically, between 2007 - 2019, the firm’s operating cash flow reached a high of CZK 95.0 mil in 2007 and a low of CZK -66.1 mil in 2012. ...

Sulko's ROCE fell 10.5% yoy to 3.05% in 2019

By Helgi Library - December 4, 2021

Sulko made a net profit of CZK 1.50 mil in 2019, down 2.21% compared to the previous year. Historically, between 2006 and 2019, the company's net profit reached a high of CZK 36.8 mil in 2006 and a low of CZK -63.5 mil in 2012. The result implies a return...

Sulko's Net Debt/EBITDA fell 78.2% yoy to 1.29 in 2019

By Helgi Library - December 4, 2021

Sulko's net debt stood at CZK 13.4 mil and accounted for 75.3% of equity at the end of 2019. The ratio is down 22.0 pp compared to the previous year. Historically, the firm’s net debt to equity reached a high of 258% in 2016 and a low of -99....

Sulko's Capital Expenditures rose 16.4% yoy to CZK 5.85 mil in 2019

By Helgi Library - December 4, 2021

Sulko invested a total of CZK 5.85 mil in 2019, down 16.4% compared to the previous year. Historically, between 2007 - 2019, the company's investments stood at a high of CZK 10.1 mil in 2009 and a low of CZK -8.18 mil in 2017. As a pe...

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SULKO, s.r.o. is a Czech Republic-based company specialising in manufacturing and assembling windows and doors. The Company was founded in 1993 and is family owned. The Company manufactures windows and doors made of plastic, wood, aluminum, and wood/aluminum combination. It offers comprehensive system of hole fillings for family homes, apartments as well as panel buildings. In addiiton, the Company supplies its products to commercial premises and schools in the Czech Republic, Belgium and Switzerland.

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Finance

Sulko has been growing its sales by -3.97% a year on average in the last 5 years. EBITDA has grown on average by 20.4% a year during that time to total of CZK 10.3 mil in 2019, or 1.95% of sales. That’s compared to -2.30% average margin seen in last five years.

The company netted CZK 1.50 mil in 2019 implying ROE of 8.71% and ROCE of 3.05%. Again, the average figures were -21.0% and -24.6%, respectively when looking at the previous 5 years.

Sulko’s net debt amounted to CZK 13.4 mil at the end of 2019, or 75.3% of equity. When compared to EBITDA, net debt was 1.29x, down when compared to average of 1.57x seen in the last 5 years.

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