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T-Mobile Czech Republic

T-Mobile CR's Cash & Cash Equivalents rose 33.6% yoy to CZK 5,254 mil in 2017

By Helgi Library - April 2, 2020

T-Mobile Czech Republic's total assets reached CZK 39,724 mil at the end of 2017, up 2.62% compared to the previous year. ...

Profit Statement 2015 2016 2017
Sales CZK mil 27,896 27,415 28,281
Gross Profit CZK mil 18,629 18,704 19,110
EBITDA CZK mil 10,672 10,730 10,182
EBIT CZK mil 5,971 6,003 5,571
Financing Cost CZK mil 66.0 24.0 87.0
Pre-Tax Profit CZK mil 5,905 5,979 5,484
Net Profit CZK mil 4,707 4,720 4,389
Dividends CZK mil 4,706 4,720 ...
Balance Sheet 2015 2016 2017
Total Assets CZK mil 38,112 38,708 39,724
Non-Current Assets CZK mil 27,807 28,074 27,557
Current Assets CZK mil 10,305 10,634 12,167
Working Capital CZK mil 1,821 1,587 830
Shareholders' Equity CZK mil 30,840 30,855 30,523
Liabilities CZK mil 7,272 7,853 9,201
Total Debt CZK mil 1,185 1,264 1,488
Net Debt CZK mil -2,223 -2,670 -3,766
Ratios 2015 2016 2017
ROE % 16.7 15.3 14.3
ROCE % 18.0 15.9 15.1
Gross Margin % 66.8 68.2 67.6
EBITDA Margin % 38.3 39.1 36.0
EBIT Margin % 21.4 21.9 19.7
Net Margin % 16.9 17.2 15.5
Net Debt/EBITDA -0.208 -0.249 -0.370
Net Debt/Equity % -7.21 -8.65 -12.3
Cost of Financing % 6.09 1.96 6.32
Cash Flow 2015 2016 2017
Total Cash From Operations CZK mil 9,620 9,827 9,520
Total Cash From Investing CZK mil -8,381 -4,248 -3,230
Total Cash From Financing CZK mil -5,215 -5,053 -4,970
Net Change In Cash CZK mil -3,976 526 1,320
Cash Conversion Cycle days -70.2 -90.0 -121
Cash Earnings CZK mil 9,408 9,447 9,000
Free Cash Flow CZK mil 1,239 5,579 6,290

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summary Unit 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
income statement                                      
Sales CZK mil                         25,953 24,693 25,140 24,074 27,896    
Gross Profit CZK mil                         15,272 14,590 17,283 16,701 18,629    
EBIT CZK mil                         8,975 8,592 7,532 6,578 5,971    
Net Profit CZK mil                         7,311 6,952 6,059 5,325 4,707    
ROE %                         22.0 21.0 20.8 20.9 16.7    
EBIT Margin %                         34.6 34.8 30.0 27.3 21.4    
Net Margin %                         28.2 28.2 24.1 22.1 16.9    
Employees                         2,944 2,847 3,362 3,168 3,427    
balance sheet                                      
Total Assets CZK mil                         33,158 32,940 32,700 34,411 38,112    
Non-Current Assets CZK mil                         16,385 15,897 18,279 21,006 27,807    
Current Assets CZK mil                         16,600 16,848 14,421 13,405 10,305    
Shareholders' Equity CZK mil                         33,158 32,940 25,240 25,647 30,840    
Liabilities CZK mil                         0 0 7,460 8,764 7,272    
Non-Current Liabilities CZK mil                         28.0 68.0 1,525 1,675 2,118    
Current Liabilities CZK mil                         4,823 4,502 5,935 7,089 5,154    
Net Debt/EBITDA                         -0.990 -1.03 -0.685 -0.638 -0.208    
Net Debt/Equity %                         -36.6 -37.2 -29.5 -25.0 -7.21    
Cost of Financing % ...               ...       -500 -278 1.66 -1.31 6.09    
cash flow                                      
Total Cash From Operations CZK mil                         9,899 10,750 8,942 8,776 9,620    
Total Cash From Investing CZK mil                         5,490 -3,112 -6,207 -4,641 -8,381    
Total Cash From Financing CZK mil                         -7,253 -6,521 -6,696 -5,045 -5,215    
Net Change In Cash CZK mil                         8,136 1,117 -3,961 -910 -3,976    
income statement Unit 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
income statement                                      
Sales CZK mil                         25,953 24,693 25,140 24,074 27,896    
Cost of Goods & Services CZK mil                         10,681 10,103 7,857 7,373 9,267    
Gross Profit CZK mil                         15,272 14,590 17,283 16,701 18,629    
Staff Cost CZK mil                         2,602 2,590 2,759 2,884 3,194    
Other Cost CZK mil                         411 88.0 3,646 3,791 4,763    
EBITDA CZK mil                         12,259 11,912 10,878 10,026 10,672    
Depreciation CZK mil                         3,284 3,320 3,346 3,448 4,701    
EBIT CZK mil                         8,975 8,592 7,532 6,578 5,971    
Financing Cost CZK mil                         -185 -71.0 7.00 -12.0 66.0    
Extraordinary Cost CZK mil                         0 0 0 0 0    
Pre-Tax Profit CZK mil                         9,160 8,663 7,525 6,590 5,905    
Tax CZK mil                         1,849 1,711 1,466 1,265 1,198    
Minorities CZK mil                         0 0 0 0 0    
Net Profit CZK mil                         7,311 6,952 6,059 5,325 4,707    
Dividends CZK mil                         6,521 5,910 4,919 0 4,706   ...
growth rates                                      
Total Revenue Growth % ...                       -7.99 -4.85 1.81 -4.24 15.9    
Operating Cost Growth % ...                       12.8 -11.1 139 4.22 19.2    
EBITDA Growth % ...                       -10.3 -2.83 -8.68 -7.83 6.44    
EBIT Growth % ...                       -14.8 -4.27 -12.3 -12.7 -9.23    
Pre-Tax Profit Growth % ...                       -13.5 -5.43 -13.1 -12.4 -10.4    
Net Profit Growth % ...                       -14.3 -4.91 -12.8 -12.1 -11.6    
ratios                                      
ROE %                         22.0 21.0 20.8 20.9 16.7    
ROCE % ...                       44.5 42.8 33.8 25.2 18.0    
Gross Margin %                         58.8 59.1 68.7 69.4 66.8    
EBITDA Margin %                         47.2 48.2 43.3 41.6 38.3    
EBIT Margin %                         34.6 34.8 30.0 27.3 21.4    
Net Margin %                         28.2 28.2 24.1 22.1 16.9    
Payout Ratio %                         89.2 85.0 81.2 0 100.0   ...
Cost of Financing % ...               ...       -500 -278 1.66 -1.31 6.09    
Net Debt/EBITDA                         -0.990 -1.03 -0.685 -0.638 -0.208    
balance sheet Unit 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
balance sheet                                      
Non-Current Assets CZK mil                         16,385 15,897 18,279 21,006 27,807    
Property, Plant & Equipment CZK mil                         11,792 11,121 13,005 13,205 15,513    
Intangible Assets CZK mil                         4,573 4,749 5,240 7,792 8,867    
Goodwill CZK mil ... ... ... ... ... ... ... ... ... ...     96.0 63.0 ... ... ...    
Current Assets CZK mil                         16,600 16,848 14,421 13,405 10,305    
Inventories CZK mil                         578 524 537 572 691    
Receivables CZK mil                         1,597 1,666 5,306 4,822 5,397    
Cash & Cash Equivalents CZK mil                         12,190 12,255 8,294 7,384 3,408    
Total Assets CZK mil                         33,158 32,940 32,700 34,411 38,112    
Shareholders' Equity CZK mil                         33,158 32,940 25,240 25,647 30,840    
Of Which Minority Interest CZK mil                         0 0 0 0 0    
Liabilities CZK mil                         0 0 7,460 8,764 7,272    
Non-Current Liabilities CZK mil                         28.0 68.0 1,525 1,675 2,118    
Long-Term Debt CZK mil                         0 0 775 851 1,001    
Deferred Tax Liabilities CZK mil ...                 ...     16.0 59.0 92.0 85.0 217    
Current Liabilities CZK mil                         4,823 4,502 5,935 7,089 5,154    
Short-Term Debt CZK mil                         51.0 0 68.0 132 184    
Trade Payables CZK mil                         2,293 1,856 4,464 3,737 4,267    
Provisions CZK mil                         587 552 522 485 961    
Equity And Liabilities CZK mil                         33,158 32,940 32,700 34,411 38,112    
growth rates                                      
Total Asset Growth % ...                       -0.417 -0.657 -0.729 5.23 10.8    
Shareholders' Equity Growth % ...                       -0.417 -0.657 -23.4 1.61 20.2    
Net Debt Growth % ...                       304 0.956 -39.2 -14.1 -65.3    
Total Debt Growth % ...           ...   ... ...     122 -100 ... 16.6 20.5    
ratios                                      
Total Debt CZK mil                         51.0 0 843 983 1,185    
Net Debt CZK mil                         -12,139 -12,255 -7,451 -6,401 -2,223    
Working Capital CZK mil                         -118 334 1,379 1,657 1,821    
Capital Employed CZK mil                         16,267 16,231 19,658 22,663 29,628    
Net Debt/Equity %                         -36.6 -37.2 -29.5 -25.0 -7.21    
Cost of Financing % ...               ...       -500 -278 1.66 -1.31 6.09    
cash flow Unit 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
cash flow                                      
Net Profit CZK mil                         7,311 6,952 6,059 5,325 4,707    
Depreciation CZK mil                         3,284 3,320 3,346 3,448 4,701    
Non-Cash Items CZK mil ...                       -796 930 582 281 376    
Change in Working Capital CZK mil ...                       100 -452 -1,045 -278 -164    
Total Cash From Operations CZK mil                         9,899 10,750 8,942 8,776 9,620    
Capital Expenditures CZK mil                         -3,541 -3,175 -3,115 -5,135 -2,829    
Other Investments CZK mil                         9,031 63.0 -3,092 494 -5,552    
Total Cash From Investing CZK mil                         5,490 -3,112 -6,207 -4,641 -8,381    
Dividends Paid CZK mil ...                       -7,253 -6,521 -5,910 -4,919 0    
Issuance Of Debt CZK mil ...                       28.0 -51.0 843 140 202    
Total Cash From Financing CZK mil                         -7,253 -6,521 -6,696 -5,045 -5,215    
Net Change In Cash CZK mil                         8,136 1,117 -3,961 -910 -3,976    
ratios                                      
Days Sales Outstanding days                         22.5 24.6 77.0 73.1 70.6    
Days Sales Of Inventory days                         19.8 18.9 24.9 28.3 27.2    
Days Payable Outstanding days                         78.4 67.1 207 185 168    
Cash Conversion Cycle days                         -36.1 -23.5 -105 -83.6 -70.2    
Cash Earnings CZK mil                         10,595 10,272 9,405 8,773 9,408    
Free Cash Flow CZK mil                         15,389 7,638 2,735 4,135 1,239    
other data Unit 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
other data                                      
ROA %                         22.0 21.0 18.5 15.9 13.0    
Gross Margin %                         58.8 59.1 68.7 69.4 66.8    
Employees                         2,944 2,847 3,362 3,168 3,427    
Cost Per Employee USD per month                         4,164 3,876 3,495 3,550 3,254    
Cost Per Employee (Local Currency) CZK per month                         73,653 75,811 68,387 75,863 77,668    
Staff Cost (As % Of Total Cost) %                         15.3 16.1 15.7 16.5 14.6    
Effective Tax Rate %                         20.2 19.8 19.5 19.2 20.3    
Capital Expenditures (As % of Sales) %                         13.6 12.9 12.4 21.3 10.1    
Sales of Mobile Phones CZK mil                         596 840 ... ... ... ... ...
Sales of Telecommunication Services CZK mil                         25,698 24,430 20,181 18,454 17,872    

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T-Mobile Czech Republic, until 2002 known as Pegas, is a subsidiary of the T-Mobile International AG. Pegas was run by RadioMobil in 1996-2002, which was a company owned by Česká radiokomunikace and Deustche Telekom by a consortium CMobil B.V. T-Mobile International AG is a holding company for Deutsche Telekom AG's subsidiary outside Germany. Based in Bonn, Germany, it operates GSM, UMTS and LTE-base cellular networks in Europe, the US, Puerto Rico and Canada. Deutsche Telecom is one of the world's leading telecommunication companies, it has approx. 132 milion mobile customers, 32 million fixed-network lines and more than 17 milion broadband lines. It is the world tenth-largest telecommunications company by subscribers. The company was founded in 1990 as Deutsche Bundespost, then it was renamed to Deutsche Telecom that was privatized in 1996. In 2002 it was anglicized to T-Mobile

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Finance

T-Mobile Czech Republic has been growing its sales by a year on average in the last 5 years. EBITDA has fallen on average by 3.09% a year during that time to total of CZK 10,182 mil in 2017, or 36.0% of sales. That’s compared to 39.7% average margin seen in last five years.

The company netted CZK 4,389 mil in 2017 implying ROE of 14.3% and ROCE of 15.1%. Again, the average figures were 17.6% and 21.6%, respectively when looking at the previous 5 years.

T-Mobile Czech Republic’s net debt amounted to CZK -3,766 mil at the end of 2017, or -12.3% of equity. When compared to EBITDA, net debt was -0.370x, up when compared to average of -0.430x seen in the last 5 years.