Varroc Lighting Systems Czech Republic

Varroc CR's net profit rose 12.9% to CZK 772 mil in 2016

By Helgi Analytics - November 05, 2019

Varroc Lighting Systems Czech Republic made a net profit of CZK 772 mil under revenues of CZK 20,509 mil in 2016, up 12.9% and 29.5%,...

Varroc CR's employees rose 5.57% to 2,617 in 2016

By Helgi Analytics - November 05, 2019

Varroc Lighting Systems Czech Republic employed 2,617 persons in 2016, up 5.57% when compared to the previous year. Historically, th...

Varroc CR's Cash & Cash Equivalents rose 135% to CZK 1,163 mil in 2016

By Helgi Analytics - November 05, 2019

Varroc Lighting Systems Czech Republic's total assets reached CZK 10,572 mil at the end of 2016, up 8.14% when compared to the previous y...

Profit Statement 2014 2015 2016
Sales CZK mil 9,549 15,839 20,509
Gross Profit CZK mil 2,292 2,782 3,305
EBITDA CZK mil 978 1,204 1,165
EBIT CZK mil 675 823 759
Financing Cost CZK mil -117 45.4 38.1
Pre-Tax Profit CZK mil 793 778 721
Net Profit CZK mil 708 684 772
Balance Sheet 2014 2015 2016
Total Assets CZK mil 5,561 7,325 10,572
Non-Current Assets CZK mil 1,621 1,580 2,400
Current Assets CZK mil 3,575 5,275 7,568
Working Capital CZK mil 1,308 3,171 3,049
Shareholders' Equity CZK mil 2,173 2,714 3,516
Liabilities CZK mil 3,387 4,611 7,057
Total Debt CZK mil 998 1,294 2,000
Net Debt CZK mil 943 800 837
Ratios 2014 2015 2016
ROE % 39.2 28.0 24.8
ROCE % 30.7 17.8 15.1
Gross Margin % 24.0 17.6 16.1
EBITDA Margin % 10.2 7.60 5.68
EBIT Margin % 7.07 5.20 3.70
Net Margin % 7.42 4.32 3.76
Net Debt/EBITDA 0.964 0.664 0.719
Net Debt/Equity % 43.4 29.5 23.8
Cost of Financing % -10.9 3.97 2.32
Cash Flow 2014 2015 2016
Cash Conversion Cycle days 49.2 73.0 49.5
Cash Earnings CZK mil 1,011 1,064 1,177

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summary Unit 2011 2012 2013 2014 2015 2016
income statement            
Sales CZK mil ... 6,103 8,872 9,549    
Gross Profit CZK mil ... 1,254 2,213 2,292    
EBIT CZK mil ... 233 545 675    
Net Profit CZK mil ... 193 292 708    
ROE % ... 22.3 22.9 39.2    
EBIT Margin % ... 3.82 6.15 7.07    
Net Margin % ... 3.16 3.29 7.42    
Employees ... 2,327 2,308 2,263    
balance sheet            
Total Assets CZK mil 4,335 4,387 4,593 5,561    
Non-Current Assets CZK mil 1,210 1,463 1,362 1,621    
Current Assets CZK mil 2,824 2,620 2,944 3,575    
Shareholders' Equity CZK mil 623 1,109 1,441 2,173    
Liabilities CZK mil 3,713 3,279 3,152 3,387    
Non-Current Liabilities CZK mil 1,080 939 700 56.7    
Current Liabilities CZK mil 2,370 1,578 2,097 1,652    
Net Debt/EBITDA ... 3.21 0.747 0.964    
Net Debt/Equity % 42.4 125 44.5 43.4    
Cost of Financing % ... 2.97 11.6 -10.9    
income statement Unit 2011 2012 2013 2014 2015 2016
income statement            
Sales CZK mil ... 6,103 8,872 9,549    
Cost of Goods & Services CZK mil ... 4,849 6,659 7,257    
Gross Profit CZK mil ... 1,254 2,213 2,292    
Staff Cost CZK mil ... 796 1,269 1,331    
Other Cost CZK mil ... 27.7 85.7 -17.2    
EBITDA CZK mil ... 430 858 978    
Depreciation CZK mil ... 197 313 302    
EBIT CZK mil ... 233 545 675    
Financing Cost CZK mil ... 41.5 162 -117    
Extraordinary Cost CZK mil ... 0 0 0    
Pre-Tax Profit CZK mil ... 191 383 793    
Tax CZK mil ... -1.37 91.5 84.1    
Minorities CZK mil ... 0 0 0    
Net Profit CZK mil ... 193 292 708    
growth rates            
Total Revenue Growth % ... ... 45.4 7.63    
Operating Cost Growth % ... ... 64.4 -2.97    
EBITDA Growth % ... ... 99.6 13.9    
EBIT Growth % ... ... 134 23.8    
Pre-Tax Profit Growth % ... ... 100 107    
Net Profit Growth % ... ... 51.2 143    
ratios            
ROE % ... 22.3 22.9 39.2    
ROCE % ... 7.74 13.1 30.7    
Gross Margin % ... 20.5 24.9 24.0    
EBITDA Margin % ... 7.05 9.67 10.2    
EBIT Margin % ... 3.82 6.15 7.07    
Net Margin % ... 3.16 3.29 7.42    
Cost of Financing % ... 2.97 11.6 -10.9    
Net Debt/EBITDA ... 3.21 0.747 0.964    
balance sheet Unit 2011 2012 2013 2014 2015 2016
balance sheet            
Non-Current Assets CZK mil 1,210 1,463 1,362 1,621    
Property, Plant & Equipment CZK mil 942 909 782 837    
Intangible Assets CZK mil 3.32 341 373 303    
Current Assets CZK mil 2,824 2,620 2,944 3,575    
Inventories CZK mil 847 543 805 1,182    
Receivables CZK mil 1,063 1,512 965 1,377    
Cash & Cash Equivalents CZK mil 888 258 521 55.6    
Total Assets CZK mil 4,335 4,387 4,593 5,561    
Shareholders' Equity CZK mil 623 1,109 1,441 2,173    
Of Which Minority Interest CZK mil 0 0 0 0    
Liabilities CZK mil 3,713 3,279 3,152 3,387    
Non-Current Liabilities CZK mil 1,080 939 700 56.7    
Long-Term Debt CZK mil 997 903 651 649    
Deferred Tax Liabilities CZK mil 82.8 36.1 49.0 56.7    
Current Liabilities CZK mil 2,370 1,578 2,097 1,652    
Short-Term Debt CZK mil 155 737 511 349    
Trade Payables CZK mil 912 744 1,448 1,251    
Provisions CZK mil 65.5 120 96.5 127    
Equity And Liabilities CZK mil 4,335 4,387 4,593 5,561    
growth rates            
Total Asset Growth % ... 1.20 4.68 21.1    
Shareholders' Equity Growth % ... 78.1 30.0 50.8    
Net Debt Growth % ... 423 -53.6 47.0    
Total Debt Growth % ... 42.3 -29.1 -14.1    
ratios            
Total Debt CZK mil 1,152 1,639 1,162 998    
Net Debt CZK mil 264 1,381 641 943    
Working Capital CZK mil 998 1,311 322 1,308    
Capital Employed CZK mil 2,209 2,774 1,683 2,929    
Net Debt/Equity % 42.4 125 44.5 43.4    
Cost of Financing % ... 2.97 11.6 -10.9    
cash flow Unit 2011 2012 2013 2014 2015 2016
cash flow            
Net Profit CZK mil ... 193 292 708    
Depreciation CZK mil ... 197 313 302    
ratios            
Days Sales Outstanding days ... 90.4 39.7 52.6    
Days Sales Of Inventory days ... 40.9 44.1 59.4    
Days Payable Outstanding days ... 56.0 79.4 62.9    
Cash Conversion Cycle days ... 75.3 4.44 49.2    
Cash Earnings CZK mil ... 390 604 1,011    
other data Unit 2011 2012 2013 2014 2015 2016
other data            
ROA % ... 4.42 6.49 14.0    
Gross Margin % ... 20.5 24.9 24.0    
Employees ... 2,327 2,308 2,263    
Cost Per Employee USD per month ... 1,458 2,342 2,294    
Cost Per Employee (Local Currency) CZK per month ... 28,522 45,814 49,031    
Staff Cost (As % Of Total Cost) % ... 13.6 15.2 15.0    
Effective Tax Rate % ... -0.715 23.9 10.6    
Domestic Sales CZK mil ... 906 729 750    
Revenues From Abroad CZK mil ... 5,198 8,142 8,799    
Revenues From Abroad (As % Of Total) % ... 85.2 91.8 92.1    
Sales of Headlamps CZK mil ... 5,304 8,103 8,047    

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Varroc CR's Net Debt/EBITDA rose 8.21% to 0.719 in 2016

By Helgi Analytics - November 05, 2019

Varroc Lighting Systems Czech Republic's net debt reached CZK 837 mil and accounted for 23.8% of equity at the end of 2016. The ratio is down 19.2% when compared to the previous year. Historically, the firm’s net debt to equity reached an all time high of 125% in 201...

Varroc CR's ROCE fell 15.0% to 15.1% in 2016

By Helgi Analytics - November 05, 2019

Varroc Lighting Systems Czech Republic made a net profit of CZK 772 mil in 2016, up 12.9% when compared to the previous year. Historically, company's net profit reached an all time high of CZK 772 mil in 2016 and an all time low of CZK 193 mil in 2012. This implie...

Varroc CR's Net Margin fell 12.8% to 3.76% in 2016

By Helgi Analytics - November 05, 2019

Varroc Lighting Systems Czech Republic made a net profit of CZK CZK 772 mil under revenues of CZK 20,509 mil in 2016, up 12.9% and 29.5%, respectively, when compared to the last year. This translates into a net margin of 3.76%. Historically, the firm’s net margin...

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Varroc Lighting Systems, s.r.o. is a Czech Republic-based subsidiary of Varroc Group, which operates branches in Asia, Europe and North America. The Company provides headlamps and rear lighting assemblies to customers including major automotive brands such as Bentley, Ford, Jaguar, Land Rover, Škoda and Tesla. The Company employs more than 2,300 people in the Czech Republic. This history of the Czech branch dates back to 1879; it was originally known under the name Autopal. Varroc is headquartered in Plymouth, Michigan, USA, and operates in Asia, Europe and North America, with nearly 5,000 employees. In the Czech Republic, the Company operates manufacturing plants in Rychvald and Novy Jicin.

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