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VEKA

VEKA's net profit rose 23.2% yoy to EUR 32.9 mil in 2019

By Helgi Analytics - December 19, 2021

VEKA made a net profit of EUR 32.9 mil in 2019, up 23.2% compared to the previous year. Total sales reached EUR 1,129 mil, which...

VEKA's ROCE rose 18.2% yoy to 5.66% in 2019

By Helgi Analytics - December 19, 2021

VEKA made a net profit of EUR 32.9 mil in 2019, up 23.2% compared to the previous year. Historically, between 2009 and 2019,...

Profit Statement 2017 2018 2019
Sales EUR mil 1,043 1,094 1,129
Gross Profit EUR mil 484 505 542
EBIT EUR mil 54.4 50.7 57.5
Financing Cost EUR mil 4.08 4.73 5.37
Pre-Tax Profit EUR mil 50.3 46.0 52.1
Net Profit EUR mil 32.2 26.7 32.9
Balance Sheet 2017 2018 2019
Total Assets EUR mil 642 686 705
Non-Current Assets EUR mil 325 338 348
Current Assets EUR mil 317 348 357
Working Capital EUR mil 212 239 237
Shareholders' Equity EUR mil 417 430 475
Liabilities EUR mil 225 256 231
Total Debt EUR mil 114 136 ...
Net Debt EUR mil 67.7 88.5 ...
Ratios 2017 2018 2019
ROE % 7.89 6.31 7.27
ROCE % 6.07 4.79 5.66
Gross Margin % 46.4 46.1 48.0
EBIT Margin % 5.22 4.64 5.09
Net Margin % 3.09 2.44 2.91
Net Debt/Equity % 16.2 20.6 ...
Cost of Financing % 3.43 3.79 ...
Cash Flow 2017 2018 2019
Cash Conversion Cycle days 116 125 125

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overview Unit 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
income statement                      
Sales EUR mil         792 899 ... 1,002 1,043    
Gross Profit EUR mil         361 411 ... 478 484    
EBIT EUR mil         38.4 26.2 ... 61.7 54.4    
Net Profit EUR mil         14.3 7.62 ... 36.0 32.2    
                         
ROE %         4.09 2.21 ... ... 7.89    
EBIT Margin %         4.85 2.91 ... 6.16 5.22    
Net Margin %         1.81 0.847 ... 3.60 3.09    
Employees ...       ... ... ... ... ... ... ...
balance sheet                      
Total Assets EUR mil         517 653 ... 648 642    
Non-Current Assets EUR mil         260 338 ... 314 325    
Current Assets EUR mil         258 315 ... 334 317    
                         
Shareholders' Equity EUR mil         352 337 ... 400 417    
Liabilities EUR mil         166 316 ... 248 225    
Non-Current Liabilities EUR mil         73.8 204 0 140 122    
Current Liabilities EUR mil         91.9 112 ... 108 104    
Net Debt/Equity %         12.9 29.4 ... 13.5 16.2   ...
Cost of Financing % ...       6.48 5.24 ... ... 3.43   ...
income statement Unit 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
income statement                      
Sales EUR mil         792 899 ... 1,002 1,043    
Cost of Goods & Services EUR mil         431 488 ... 524 559    
Gross Profit EUR mil         361 411 ... 478 484    
EBIT EUR mil         38.4 26.2 ... 61.7 54.4    
Financing Cost EUR mil         5.05 6.04 ... 5.95 4.08    
Pre-Tax Profit EUR mil         33.4 20.2 ... 55.8 50.3    
Tax EUR mil         15.2 7.71 ... 15.3 13.4    
Net Profit EUR mil         14.3 7.62 ... 36.0 32.2    
Net Profit Avail. to Common EUR mil         14.3 7.62 ... 36.0 32.2    
growth rates                      
Total Revenue Growth % ...       -0.067 13.6 ... ... 4.03    
EBIT Growth % ...       24.5 -31.8 ... ... -11.8    
Pre-Tax Profit Growth % ...       33.7 -39.5 ... ... -9.74    
Net Profit Growth % ...       22.8 -46.9 ... ... -10.7    
ratios                      
ROE %         4.09 2.21 ... ... 7.89    
ROA %         2.76 1.30 ... ... 4.99    
ROCE % ...       3.31 1.59 ... ... 6.07    
Gross Margin %         45.5 45.7 ... 47.7 46.4    
EBIT Margin %         4.85 2.91 ... 6.16 5.22    
Net Margin %         1.81 0.847 ... 3.60 3.09    
Cost of Financing % ...       6.48 5.24 ... ... 3.43   ...
balance sheet Unit 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
balance sheet                      
Cash & Cash Equivalents EUR mil         44.8 73.4 ... 88.2 63.1    
Receivables EUR mil         59.5 75.5 ... 75.2 76.3    
Inventories EUR mil         153 166 ... 170 177    
Current Assets EUR mil         258 315 ... 334 317    
Property, Plant & Equipment EUR mil         232 300 ... 279 280    
LT Investments & Receivables EUR mil         1.77 1.45 ... 1.08 9.36    
Intangible Assets EUR mil         2.00 23.2 ... 17.8 19.3    
Goodwill EUR mil   ...     ... 18.8 ... 13.2 11.4    
Non-Current Assets EUR mil         260 338 ... 314 325    
Total Assets EUR mil         517 653 ... 648 642    
                         
Trade Payables EUR mil         39.9 51.5 ... 36.5 41.2    
Short-Term Debt EUR mil         25.3 23.9 ... 27.9 28.7    
Other ST Liabilities EUR mil         26.7 37.1 ... 43.5 33.9    
Current Liabilities EUR mil         91.9 112 ... 108 104    
Long-Term Debt EUR mil         49.8 132 ... 95.6 85.6   ...
Other LT Liabilities EUR mil         24.0 72.4 ... 44.6 36.0    
Non-Current Liabilities EUR mil         73.8 204 0 140 122    
Liabilities EUR mil         166 316 ... 248 225    
Share Capital EUR mil         80.0 80.0 ... 80.0 80.0    
Equity Before Minority Interest EUR mil         349 334 ... 397 414    
Minority Interest EUR mil         2.32 3.00 ... 2.90 2.71 ...  
Equity EUR mil         352 337 ... 400 417    
growth rates                      
Total Asset Growth % ...       -0.833 26.3 ... ... -0.881    
Shareholders' Equity Growth % ...       0.702 -4.21 ... ... 4.28    
Net Debt Growth % ...       -9.75 119 ... ... 25.5   ...
Total Debt Growth % ...       -7.14 107 ... ... -7.48   ...
ratios                      
Total Debt EUR mil         75.1 155 ... 124 114   ...
Net Debt EUR mil         45.2 99.1 ... 54.0 67.7   ...
Working Capital EUR mil         173 190 ... 209 212    
Capital Employed EUR mil         433 528 ... 523 538    
Net Debt/Equity %         12.9 29.4 ... 13.5 16.2   ...
Current Ratio         2.81 2.80 ... 3.09 3.05    
Quick Ratio         1.14 1.32 ... 1.51 1.34    
cash flow Unit 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
cash flow                      
Net Profit EUR mil         14.3 7.62 ... 36.0 32.2    
ratios                      
Days Sales Outstanding days         27.5 30.7 ... 27.4 26.7    
Days Sales Of Inventory days         130 124 ... 119 116    
Days Payable Outstanding days         33.8 38.5 ... 25.4 26.9    
Cash Conversion Cycle days         124 116 ... 121 116    
other ratios Unit 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
                       
Employees ...       ... ... ... ... ... ... ...
Effective Tax Rate %         45.6 38.2 ... 27.5 26.6    
Total Revenue Growth (5-year average) % ... ... ... ... ... 9.11 ... 6.37 5.65    
Total Revenue Growth (10-year average) % ... ... ... ... ... ... ... ... ... ...  

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Finance

VEKA has been growing its sales by 4.66% a year on average in the last 5 years. EBITDA has grown by 0% during that time to total of in 2019, or of sales. That’s compared to % average margin seen in last five years.

The company netted EUR 32.9 mil in 2019 implying ROE of 7.27% and ROCE of 5.66%. Again, the average figures were 7.16% and 5.51%, respectively when looking at the previous 5 years.

VEKA’s net debt amounted to at the end of 2019, or of equity. When compared to EBITDA, net debt was x, up when compared to average of x seen in the last 5 years.

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