This report analyses the financial performance of Letoplast for the 2018. You will find all the necessary details regarding company's profitability, volume growth, indebtedness and a comparison with selected peers.
Letoplast announced a net profit of CZK 51.9 mil in 2018, down 10.3% when compared to the last year. Sales decreased 3.30% yoy to CZK 504 mil, EBITDA fell 6.62% to CZK 71.2 mil and net margin amounted to 10.3%. In the last three years, the Company grew its revenues by 9.62% a year, and produced an average return on capital of 24.9% and return on equity of 38.5%.
The key highlights are:
Sales decreased 3.30% yoy to CZK 504 mil in 2018. That’s compared to average growth of 9.62% in the last three years and 45.9% more when compared to the average annual increase in the last decade.
EBITDA amounted to CZK 71.2 mil and fell 6.62% when compared to last year. EBITDA margin reached 14.1%, up 0.181%pp when compared to a 5-year average.
Company’s indebtedness fell when measured by Net Debt/Equity and reached 18.6% at the end of 2018. When compared to EBITDA, net debt fell to 0.643x at the end of 2018.
Letoplast netted CZK 51.9 mil to its shareholders in the last year, up 1.48% when compared to the average seen in the last five years. The company produced a return on capital of 17.6% and return on equity of 22.4% in the last year. Since 2013, Letoplast’s average ROCE amounted to 19.4% and ROE 31.0%.
When compared to selected peers, Letoplast has grown 7.99 pp faster in sales in the last five years. It was also 3.82 pp more profitable in terms of ROCE, and achieved 1.69 pp higher EBITDA margin based on a last year's results.
In terms of indebtedness, the company operated with 15.4 pp higher net debt to equity at the end of 2018 when compared to its peers (18.6% at Letoplast vs. 3.12% of its peers).
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