Vltava-Labe-Press

Vltava-Labe-Press's Cash & Cash Equivalents fell 93.7% yoy to CZK 1.75 mil in 2013

By Helgi Analytics - April 2, 2020

Vltava-Labe-Press's total assets reached CZK 1,101 mil at the end of 2013, down 9.13% compared to the previous year. ...

Profit Statement 2011 2012 2013
Sales CZK mil 1,145 1,048 947
Gross Profit CZK mil 389 386 346
EBITDA CZK mil 5.34 10.0 -15.9
EBIT CZK mil -62.7 -38.7 -63.4
Financing Cost CZK mil -31.3 -18.5 -11.9
Pre-Tax Profit CZK mil -31.4 -20.2 -51.6
Net Profit CZK mil -22.3 -21.6 -61.0
Balance Sheet 2011 2012 2013
Total Assets CZK mil 1,101 1,211 1,101
Non-Current Assets CZK mil 827 1,010 970
Current Assets CZK mil 272 199 130
Working Capital CZK mil 10.3 3.42 -26.9
Shareholders' Equity CZK mil 804 782 721
Liabilities CZK mil 297 429 380
Total Debt CZK mil 23.0 141 106
Net Debt CZK mil 17.7 113 104
Ratios 2011 2012 2013
ROE % -2.74 -2.72 -8.11
ROCE % -2.58 -2.33 -6.23
Gross Margin % 33.9 36.8 36.6
EBITDA Margin % 0.466 0.957 -1.68
EBIT Margin % -5.47 -3.70 -6.70
Net Margin % -1.95 -2.06 -6.44
Net Debt/EBITDA 3.31 11.3 -6.55
Net Debt/Equity 0.022 0.145 0.144
Cost of Financing % -272 -22.6 -9.62
Cash Flow 2011 2012 2013
Cash Conversion Cycle days -10.8 -18.1 -33.3
Cash Earnings CZK mil 45.7 27.2 -13.4

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summary Unit 2006 2007 2008 2009 2010 2011 2012 2013
income statement                
Sales CZK mil   2,298 2,218 1,779 1,233 1,145    
Gross Profit CZK mil   589 638 484 429 389    
EBIT CZK mil   -294 -143 -275 -102 -62.7    
Net Profit CZK mil   -370 -173 -302 -95.8 -22.3    
ROE %   -22.0 -12.5 -27.0 -10.7 -2.74    
EBIT Margin %   -12.8 -6.45 -15.5 -8.30 -5.47    
Net Margin %   -16.1 -7.80 -17.0 -7.76 -1.95    
Employees   1,742 1,518 1,339 1,034 958    
balance sheet                
Total Assets CZK mil   2,087 1,791 1,365 1,117 1,101    
Non-Current Assets CZK mil   1,288 1,091 921 878 827    
Current Assets CZK mil   765 680 438 238 272    
Shareholders' Equity CZK mil   1,495 1,269 966 826 804    
Liabilities CZK mil   592 522 399 291 297    
Non-Current Liabilities CZK mil   0 0 4.47 0 0    
Current Liabilities CZK mil   364 273 241 177 168    
Net Debt/EBITDA   0.156 -0.345 0.280 -2.10 3.31    
Net Debt/Equity   -0.014 -0.008 -0.029 -0.034 0.022    
Cost of Financing % ... 8.53 -2.26 5.70 3.52 -272    
income statement Unit 2006 2007 2008 2009 2010 2011 2012 2013
income statement                
Sales CZK mil   2,298 2,218 1,779 1,233 1,145    
Cost of Goods & Services CZK mil   1,709 1,580 1,295 805 756    
Gross Profit CZK mil   589 638 484 429 389    
Staff Cost CZK mil   740 673 570 417 381    
Other Cost CZK mil   -15.0 -65.8 14.8 -1.45 2.55    
EBITDA CZK mil   -135 30.9 -101 13.4 5.34    
Depreciation CZK mil   159 174 173 116 68.0    
EBIT CZK mil   -294 -143 -275 -102 -62.7    
Financing Cost CZK mil   5.40 -2.03 3.36 0.311 -31.3    
Extraordinary Cost CZK mil   0 0 0 0 0    
Pre-Tax Profit CZK mil   -299 -141 -278 -103 -31.4    
Tax CZK mil   54.3 11.2 10.5 -6.86 -9.03    
Minorities CZK mil   16.1 20.8 13.4 0 0    
Net Profit CZK mil   -370 -173 -302 -95.8 -22.3    
growth rates                
Total Revenue Growth % ... -1.57 -3.49 -19.8 -30.7 -7.16    
Operating Cost Growth % ... 10.2 -16.3 -3.55 -29.0 -7.70    
EBITDA Growth % ... -297 -123 -429 -113 -60.3    
EBIT Growth % ... 180 -51.4 92.3 -62.8 -38.8    
Pre-Tax Profit Growth % ... 170 -52.9 97.5 -63.1 -69.4    
Net Profit Growth % ... 262 -53.2 74.7 -68.3 -76.7    
ratios                
ROE %   -22.0 -12.5 -27.0 -10.7 -2.74    
ROCE % ... -24.8 -12.7 -26.3 -9.98 -2.58    
Gross Margin %   25.6 28.8 27.2 34.8 33.9    
EBITDA Margin %   -5.89 1.39 -5.70 1.09 0.466    
EBIT Margin %   -12.8 -6.45 -15.5 -8.30 -5.47    
Net Margin %   -16.1 -7.80 -17.0 -7.76 -1.95    
Cost of Financing % ... 8.53 -2.26 5.70 3.52 -272    
Net Debt/EBITDA   0.156 -0.345 0.280 -2.10 3.31    
balance sheet Unit 2006 2007 2008 2009 2010 2011 2012 2013
balance sheet                
Non-Current Assets CZK mil   1,288 1,091 921 878 827    
Property, Plant & Equipment CZK mil   921 857 754 501 473    
Intangible Assets CZK mil   305 233 167 90.8 67.8    
Current Assets CZK mil   765 680 438 238 272    
Inventories CZK mil   69.4 49.7 29.1 0 0.151    
Receivables CZK mil   281 231 165 91.8 96.5    
Cash & Cash Equivalents CZK mil   101 111 46.1 28.2 5.29    
Total Assets CZK mil   2,087 1,791 1,365 1,117 1,101    
Shareholders' Equity CZK mil   1,495 1,269 966 826 804    
Of Which Minority Interest CZK mil   59.1 23.5 23.2 0 0    
Liabilities CZK mil   592 522 399 291 297    
Non-Current Liabilities CZK mil   0 0 4.47 0 0    
Long-Term Debt CZK mil   0 0 0 0 0    
Deferred Tax Liabilities CZK mil   0 0 4.47 0 0    
Current Liabilities CZK mil   364 273 241 177 168    
Short-Term Debt CZK mil   80.0 100 17.7 0 23.0    
Trade Payables CZK mil   198 98.0 93.3 72.5 86.4    
Provisions CZK mil   36.8 25.7 18.3 10.0 8.04    
Equity And Liabilities CZK mil   2,087 1,791 1,365 1,117 1,101    
growth rates                
Total Asset Growth % ... -10.1 -14.2 -23.8 -18.2 -1.47    
Shareholders' Equity Growth % ... -19.8 -15.1 -23.8 -14.5 -2.70    
Net Debt Growth % ... -69.6 -49.6 167 -0.690 -163    
Total Debt Growth % ... 72.1 25.0 -82.3 -100 ...    
ratios                
Total Debt CZK mil   80.0 100 17.7 0 23.0    
Net Debt CZK mil   -21.1 -10.7 -28.4 -28.2 17.7    
Working Capital CZK mil   153 183 101 19.3 10.3    
Capital Employed CZK mil   1,440 1,273 1,022 897 837    
Net Debt/Equity   -0.014 -0.008 -0.029 -0.034 0.022    
Cost of Financing % ... 8.53 -2.26 5.70 3.52 -272    
cash flow Unit 2006 2007 2008 2009 2010 2011 2012 2013
cash flow                
Net Profit CZK mil   -370 -173 -302 -95.8 -22.3    
Depreciation CZK mil   159 174 173 116 68.0    
ratios                
Days Sales Outstanding days   44.6 38.0 33.8 27.2 30.8    
Days Sales Of Inventory days   14.8 11.5 8.20 0 0.073    
Days Payable Outstanding days   42.2 22.6 26.3 32.9 41.7    
Cash Conversion Cycle days   17.2 26.8 15.7 -5.74 -10.8    
Cash Earnings CZK mil   -211 0.875 -129 20.0 45.7    
other data Unit 2006 2007 2008 2009 2010 2011 2012 2013
other data                
ROA %   -16.8 -8.92 -19.1 -7.71 -2.01    
Gross Margin %   25.6 28.8 27.2 34.8 33.9    
Employees   1,742 1,518 1,339 1,034 958    
Cost Per Employee USD per month   1,742 2,167 1,863 1,757 1,872    
Cost Per Employee (Local Currency) CZK per month   35,380 36,920 35,503 33,580 33,115    
Staff Cost (As % Of Total Cost) %   28.5 28.5 27.8 31.2 31.5    
Effective Tax Rate %   -18.1 -7.95 -3.78 6.69 28.8    

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VLTAVA-LABE-PRESS, a.s. is a Czech Republic-based publisher of daily newspapers. The Company also offers television guides and weekly society magazines. The company was founded in 1994 and is based in Prague, Czech Republic. The Company is owned by a Czechoslovak financial group Penta.

Finance

Vltava-Labe-Press has been growing its sales by a year on average in the last 5 years. EBITDA has fallen by 151% during that time to total of CZK -15.9 mil in 2013, or -1.68% of sales. That’s compared to -0.973% average margin seen in last five years.

The company netted CZK -61.0 mil in 2013 implying ROE of -8.11% and ROCE of -6.23%. Again, the average figures were -10.3% and -9.49%, respectively when looking at the previous 5 years.

Vltava-Labe-Press’s net debt amounted to CZK 104 mil at the end of 2013, or 0.144 of equity. When compared to EBITDA, net debt was -6.55x, down when compared to average of 1.24x seen in the last 5 years.