Wikov Industry

Wikov's Cash & Cash Equivalents rose 198% yoy to CZK 104 mil in 2015

By Helgi Analytics - April 2, 2020

Wikov Industry's total assets reached CZK 1,964 mil at the end of 2015, down 7.23% compared to the previous year. ...

Profit Statement 2013 2014 2015
Sales CZK mil 1,363 1,868 1,602
Gross Profit CZK mil 553 797 719
EBITDA CZK mil 132 345 231
EBIT CZK mil -1.58 204 76.5
Financing Cost CZK mil -184 30.2 7.73
Pre-Tax Profit CZK mil 183 278 73.2
Net Profit CZK mil 178 166 73.1
Balance Sheet 2013 2014 2015
Total Assets CZK mil 2,036 2,117 1,964
Non-Current Assets CZK mil 850 851 818
Current Assets CZK mil 1,163 1,246 1,128
Working Capital CZK mil 460 596 16.5
Shareholders' Equity CZK mil 798 951 290
Liabilities CZK mil 1,238 1,166 1,674
Total Debt CZK mil 554 556 635
Net Debt CZK mil 522 521 530
Ratios 2013 2014 2015
ROE % 25.1 19.0 11.8
ROCE % 14.7 12.0 6.41
Gross Margin % 40.5 42.7 44.9
EBITDA Margin % 9.67 18.5 14.4
EBIT Margin % -0.116 10.9 4.78
Net Margin % 13.1 8.88 4.57
Net Debt/EBITDA 3.96 1.51 2.29
Net Debt/Equity 0.654 0.548 1.83
Cost of Financing % -38.5 5.43 1.30
Cash Flow 2013 2014 2015
Cash Conversion Cycle days 94.2 111 -106
Cash Earnings CZK mil 312 307 228

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summary Unit 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
income statement                      
Sales CZK mil         1,450 1,360 1,496 1,507 1,363    
Gross Profit CZK mil         620 508 509 575 553    
EBIT CZK mil         159 35.0 -10.0 -2.00 -1.58    
Net Profit CZK mil         129 11.0 -27.0 17.0 178    
ROE %         28.7 2.13 -4.80 2.77 25.1    
EBIT Margin %         11.0 2.57 -0.668 -0.133 -0.116    
Net Margin %         8.90 0.809 -1.80 1.13 13.1    
Employees ... ... ... ... 617 621 ... 736 690    
balance sheet                      
Total Assets CZK mil         1,649 1,770 1,663 1,757 2,036    
Non-Current Assets CZK mil         698 701 848 909 850    
Current Assets CZK mil         904 1,005 748 820 1,163    
Shareholders' Equity CZK mil         515 519 607 622 798    
Liabilities CZK mil         1,134 1,251 1,056 1,135 1,238    
Non-Current Liabilities CZK mil         300 336 540 709 95.4    
Current Liabilities CZK mil         476 530 516 426 1,143    
Net Debt/EBITDA         1.66 3.49 2.71 3.21 3.96    
Net Debt/Equity         0.955 1.15 0.606 0.784 0.654    
Cost of Financing % ... ...     2.70 1.55 2.87 -7.39 -38.5    
income statement Unit 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
income statement                      
Sales CZK mil         1,450 1,360 1,496 1,507 1,363    
Cost of Goods & Services CZK mil         830 852 987 932 811    
Gross Profit CZK mil         620 508 509 575 553    
Staff Cost CZK mil         315 325 350 379 371    
Other Cost CZK mil         9.00 12.0 23.0 44.0 49.6    
EBITDA CZK mil         296 171 136 152 132    
Depreciation CZK mil         137 136 146 154 133    
EBIT CZK mil         159 35.0 -10.0 -2.00 -1.58    
Financing Cost CZK mil ...       18.0 10.0 14.0 -26.0 -184    
Extraordinary Cost CZK mil ...       5.00 2.00 -5.00 0 0    
Pre-Tax Profit CZK mil         136 23.0 -19.0 24.0 183    
Tax CZK mil         6.00 9.00 4.00 4.00 7.40    
Minorities CZK mil ... ... ... ... 1.00 3.00 4.00 3.00 -2.97    
Net Profit CZK mil         129 11.0 -27.0 17.0 178    
growth rates                      
Total Revenue Growth % ...       -4.23 -6.21 10.0 0.735 -9.54    
Operating Cost Growth % ...       -6.09 4.01 10.7 13.4 -0.501    
EBITDA Growth % ...       167 -42.2 -20.5 11.8 -13.3    
EBIT Growth % ...       2,550 -78.0 -129 -80.0 -20.9    
Pre-Tax Profit Growth % ...       700 -83.1 -183 -226 662    
Net Profit Growth % ...       821 -91.5 -345 -163 950    
ratios                      
ROE %         28.7 2.13 -4.80 2.77 25.1    
ROCE % ... ... ...   9.85 0.820 -2.33 1.65 14.7    
Gross Margin %         42.8 37.4 34.0 38.2 40.5    
EBITDA Margin %         20.4 12.6 9.09 10.1 9.67    
EBIT Margin %         11.0 2.57 -0.668 -0.133 -0.116    
Net Margin %         8.90 0.809 -1.80 1.13 13.1    
Cost of Financing % ... ...     2.70 1.55 2.87 -7.39 -38.5    
Net Debt/EBITDA         1.66 3.49 2.71 3.21 3.96    
balance sheet Unit 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
balance sheet                      
Non-Current Assets CZK mil         698 701 848 909 850    
Property, Plant & Equipment CZK mil         659 664 717 704 670    
Intangible Assets CZK mil         19.0 19.0 15.0 32.0 18.5    
Current Assets CZK mil         904 1,005 748 820 1,163    
Inventories CZK mil         548 684 518 584 512    
Receivables CZK mil ... ...     220 213 299 319 618    
Cash & Cash Equivalents CZK mil         124 79.0 -68.0 -84.0 32.4    
Total Assets CZK mil         1,649 1,770 1,663 1,757 2,036    
Shareholders' Equity CZK mil         515 519 607 622 798    
Of Which Minority Interest CZK mil         185 184 218 262 245    
Liabilities CZK mil         1,134 1,251 1,056 1,135 1,238    
Non-Current Liabilities CZK mil         300 336 540 709 95.4    
Long-Term Debt CZK mil         530 521 92.4 92.4 92.4    
Deferred Tax Liabilities CZK mil ... ...     6.00 2.00 0.036 8.00 3.00    
Current Liabilities CZK mil         476 530 516 426 1,143    
Short-Term Debt CZK mil         86.0 154 208 311 462    
Trade Payables CZK mil ... ...     170 210 734 687 670    
Provisions CZK mil         ... 12.0 9.00 6.00 5.87    
Equity And Liabilities CZK mil         1,649 1,770 1,663 1,757 2,036    
growth rates                      
Total Asset Growth % ...       -12.1 7.34 -6.05 5.65 15.9    
Shareholders' Equity Growth % ...       33.8 0.777 17.0 2.47 28.3    
Net Debt Growth % ...       -0.203 21.1 -38.2 32.4 7.01    
Total Debt Growth % ... ... ...   -14.1 9.58 -55.5 34.4 37.3    
ratios                      
Total Debt CZK mil         616 675 300 403 554    
Net Debt CZK mil         492 596 368 487 522    
Working Capital CZK mil ... ...     598 687 82.1 216 460    
Capital Employed CZK mil ... ...     1,296 1,388 930 1,125 1,310    
Net Debt/Equity         0.955 1.15 0.606 0.784 0.654    
Cost of Financing % ... ...     2.70 1.55 2.87 -7.39 -38.5    
cash flow Unit 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
cash flow                      
Net Profit CZK mil         129 11.0 -27.0 17.0 178    
Depreciation CZK mil         137 136 146 154 133    
ratios                      
Days Sales Outstanding days ... ...     55.4 57.2 72.8 77.3 165    
Days Sales Of Inventory days         241 293 192 229 231    
Days Payable Outstanding days ... ...     74.8 90.0 272 269 302    
Cash Conversion Cycle days ... ...     222 260 -7.19 36.9 94.2    
Cash Earnings CZK mil         266 147 119 171 312    
other data Unit 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
other data                      
ROA %         7.32 0.643 -1.57 0.994 9.41    
Gross Margin %         42.8 37.4 34.0 38.2 40.5    
Employees ... ... ... ... 617 621 ... 736 690    
Cost Per Employee USD per month ... ... ... ... 2,232 2,282 ... 2,194 2,292    
Cost Per Employee (Local Currency) CZK per month ... ... ... ... 42,545 43,613 ... 42,912 44,844    
Staff Cost (As % Of Total Cost) %         24.4 24.5 23.2 25.1 27.2    
Effective Tax Rate %         4.41 39.1 -21.1 16.7 4.05    
Revenues From Abroad CZK mil ... ... ... ... 844 792 1,258 976 943   ...
Revenues From Abroad (As % Of Total) % ... ... ... ... 58.2 58.3 84.1 64.8 69.2   ...
Domestic Sales CZK mil ... ... ... ... 606 568 238 531 420   ...
Sales of Transmissions CZK mil ... ... ... ... 423 686 719 842 954   ...
Sales of Wind Energy CZK mil ... ... ... ... 599 256 738 347 197   ...
Sales from Cooperation CZK mil ... ... ... ... 45.2 73.8 95.5 85.9 107   ...
Sales from Construction Work CZK mil ... ... ... ... ... 98.6 18.6 41.6 2.92   ...
Sales Of Services CZK mil ... ... ... ... 237 41.4 135 29.0 53.9   ...

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May 2014
Statistical Dossier
May 2014
Company Report

Wikov Industry a.s. is a Czech Republic-based manufacturer of mechanical gear units. Wikov Group has been active in mechanical engineering for more than 125 years. For the past 80 years Wikov has been producing gear wheels and mechanical gearboxes. Company product portfolio includes gearboxes for power generation, high-speed gear units, industrial gearboxes, gearboxes for mining and mineral resources processing, or for rail vehicles, for example

Finance

Wikov Industry has been growing its sales by a year on average in the last 5 years. EBITDA has grown on average by 6.23% a year during that time to total of CZK 231 mil in 2015, or 14.4% of sales. That’s compared to 12.4% average margin seen in last five years.

The company netted CZK 73.1 mil in 2015 implying ROE of 11.8% and ROCE of 6.41%. Again, the average figures were 10.8% and 6.49%, respectively when looking at the previous 5 years.

Wikov Industry’s net debt amounted to CZK 530 mil at the end of 2015, or 1.83 of equity. When compared to EBITDA, net debt was 2.29x, down when compared to average of 2.73x seen in the last 5 years.