By Helgi Library - April 2, 2020
Hrvatski Telekom's total assets reached HRK 14,079 mil at the end of 2015, up 1.72% compared to the previous year. ...
By Helgi Library - April 2, 2020
Hrvatski Telekom's total assets reached HRK 14,079 mil at the end of 2015, up 1.72% compared to the previous year. ...
Profit Statement | 2013 | 2014 | 2015 | |
Sales | HRK mil | 7,179 | 7,032 | 7,017 |
Gross Profit | HRK mil | 5,378 | 5,175 | 5,123 |
EBITDA | HRK mil | 2,946 | 2,607 | 2,668 |
EBIT | HRK mil | 1,632 | 1,225 | 1,199 |
Financing Cost | HRK mil | 3.00 | 40.0 | 3.00 |
Pre-Tax Profit | HRK mil | 1,629 | 1,185 | 1,168 |
Net Profit | HRK mil | 1,441 | 1,143 | 925 |
Dividends | HRK mil | 737 | 573 | ... |
Balance Sheet | 2013 | 2014 | 2015 | |
Total Assets | HRK mil | 12,827 | 13,841 | 14,079 |
Non-Current Assets | HRK mil | 7,736 | 8,206 | 8,443 |
Current Assets | HRK mil | 5,091 | 5,635 | 5,636 |
Working Capital | HRK mil | 212 | 356 | 52.0 |
Shareholders' Equity | HRK mil | 10,700 | 11,110 | 11,464 |
Liabilities | HRK mil | 2,127 | 2,731 | 2,615 |
Total Debt | HRK mil | 5.00 | 315 | 294 |
Net Debt | HRK mil | -3,365 | -3,415 | -3,739 |
Ratios | 2013 | 2014 | 2015 | |
ROE | % | 13.3 | 10.5 | 8.20 |
ROCE | % | 18.3 | 13.8 | 10.8 |
Gross Margin | % | 74.9 | 73.6 | 73.0 |
EBITDA Margin | % | 41.0 | 37.1 | 38.0 |
EBIT Margin | % | 22.7 | 17.4 | 17.1 |
Net Margin | % | 20.1 | 16.3 | 13.2 |
Net Debt/EBITDA | -1.14 | -1.31 | -1.40 | |
Net Debt/Equity | -0.314 | -0.307 | -0.326 | |
Cost of Financing | % | 9.49 | 25.0 | 0.985 |
Valuation | 2013 | 2014 | 2015 | |
Market Capitalisation | USD mil | 2,629 | 1,982 | 1,867 |
Enterprise Value (EV) | USD mil | 2,020 | 1,442 | 1,277 |
Number Of Shares | mil | 81.9 | 81.9 | 81.9 |
Share Price | HRK | 177 | 153 | 144 |
EV/EBITDA | 3.91 | 3.28 | 2.84 | |
EV/Sales | 1.61 | 1.22 | 1.08 | |
Price/Earnings (P/E) | 10.1 | 11.0 | 12.8 | |
Price/Book Value (P/BV) | 1.36 | 1.13 | 1.03 | |
Dividend Yield | % | 5.07 | 4.57 | ... |
Get all company financials in excel:
summary | Unit | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 |
income statement | ||||||||||||||
Sales | HRK mil | ... | 8,517 | 8,375 | 8,067 | 7,456 | 7,179 | |||||||
Gross Profit | HRK mil | ... | ... | ... | ... | ... | ... | ... | ... | 5,803 | 5,436 | 5,378 | ||
EBIT | HRK mil | ... | 2,460 | 2,445 | 2,379 | 2,189 | 1,632 | |||||||
Net Profit | HRK mil | ... | 2,024 | 1,831 | 1,811 | 1,696 | 1,441 | |||||||
ROE | % | ... | 16.6 | 15.9 | 16.4 | 15.5 | 13.3 | |||||||
EBIT Margin | % | ... | 28.9 | 29.2 | 29.5 | 29.4 | 22.7 | |||||||
Net Margin | % | ... | 23.8 | 21.9 | 22.5 | 22.7 | 20.1 | |||||||
balance sheet | ||||||||||||||
Total Assets | HRK mil | ... | 14,472 | 13,585 | 13,136 | 13,113 | 12,827 | |||||||
Non-Current Assets | HRK mil | ... | 8,174 | 8,008 | 7,462 | 7,858 | 7,736 | |||||||
Current Assets | HRK mil | ... | 6,298 | 5,577 | 5,675 | 5,254 | 5,091 | |||||||
Shareholders' Equity | HRK mil | ... | 12,012 | 11,054 | 11,019 | 10,899 | 10,700 | |||||||
Liabilities | HRK mil | ... | 2,460 | 2,531 | 2,117 | 2,214 | 2,127 | |||||||
Non-Current Liabilities | HRK mil | ... | 549 | 410 | 625 | 547 | 281 | |||||||
Current Liabilities | HRK mil | ... | 1,911 | 2,121 | 1,492 | 1,667 | 1,846 | |||||||
Net Debt/EBITDA | ... | -1.09 | -0.850 | -0.963 | -0.878 | -1.14 | ||||||||
Net Debt/Equity | ... | -0.347 | -0.292 | -0.331 | -0.283 | -0.314 | ||||||||
Cost of Financing | % | ... | ... | 164 | 134 | 73.8 | 103 | 9.49 | ||||||
cash flow | ||||||||||||||
Total Cash From Operations | HRK mil | ... | 3,020 | 3,266 | 3,050 | 3,058 | 2,131 | |||||||
Total Cash From Investing | HRK mil | ... | -1,593 | -1,389 | -754 | -1,791 | -1,477 | |||||||
Total Cash From Financing | HRK mil | ... | -2,455 | -2,790 | -1,874 | -1,825 | -1,763 | |||||||
Net Change In Cash | HRK mil | ... | -1,028 | -913 | 422 | -558 | -1,109 | |||||||
valuation | ||||||||||||||
Market Capitalisation | USD mil | ... | ... | ... | ... | 4,416 | 4,286 | 3,401 | 2,836 | 2,629 | ||||
Number Of Shares | mil | ... | ... | ... | ... | 81.9 | 81.9 | 81.9 | 81.9 | 81.9 | ||||
Share Price | HRK | ... | ... | ... | ... | 275 | 289 | 242 | 199 | 177 | ||||
Earnings Per Share (EPS) | HRK | ... | ... | ... | ... | 24.7 | 22.4 | 22.1 | 20.7 | 17.6 | ||||
Book Value Per Share | HRK | ... | ... | ... | ... | 147 | 135 | 135 | 133 | 131 | ||||
Dividend Per Share | HRK | ... | ... | ... | ... | 34.0 | 22.8 | 22.1 | 20.5 | 9.00 | ... | |||
Price/Earnings (P/E) | ... | ... | ... | ... | 11.1 | 12.9 | 10.9 | 9.59 | 10.1 | |||||
Price/Book Value (P/BV) | ... | ... | ... | ... | 1.87 | 2.14 | 1.80 | 1.49 | 1.36 | |||||
Dividend Yield | % | ... | ... | ... | ... | 12.4 | 7.88 | 9.17 | 10.3 | 5.07 | ... | |||
Earnings Per Share Growth | % | ... | ... | ... | ... | ... | -12.4 | -9.54 | -1.08 | -6.38 | -15.0 | |||
Book Value Per Share Growth | % | ... | ... | ... | ... | ... | -3.44 | -7.98 | -0.320 | -1.09 | -1.82 |
income statement | Unit | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 |
income statement | ||||||||||||||
Sales | HRK mil | ... | 8,517 | 8,375 | 8,067 | 7,456 | 7,179 | |||||||
Cost of Goods & Services | HRK mil | ... | ... | ... | ... | ... | ... | ... | ... | 2,265 | 2,020 | 1,801 | ||
Gross Profit | HRK mil | ... | ... | ... | ... | ... | ... | ... | ... | 5,803 | 5,436 | 5,378 | ||
EBITDA | HRK mil | ... | 3,825 | 3,795 | 3,794 | 3,515 | 2,946 | |||||||
Depreciation | HRK mil | ... | 1,365 | 1,350 | 1,415 | 1,326 | 1,314 | |||||||
EBIT | HRK mil | ... | 2,460 | 2,445 | 2,379 | 2,189 | 1,632 | |||||||
Financing Cost | HRK mil | ... | 41.0 | 55.0 | 39.5 | 56.4 | 3.00 | |||||||
Extraordinary Cost | HRK mil | ... | -147 | 115 | 84.3 | 40.6 | 0 | |||||||
Pre-Tax Profit | HRK mil | ... | 2,566 | 2,275 | 2,255 | 2,092 | 1,629 | |||||||
Tax | HRK mil | ... | 542 | 444 | 444 | 396 | 188 | |||||||
Minorities | HRK mil | ... | 0 | 0 | 0 | 0 | 0 | |||||||
Net Profit | HRK mil | ... | 2,024 | 1,831 | 1,811 | 1,696 | 1,441 | |||||||
Dividends | HRK mil | 2,788 | 1,863 | 1,813 | 1,679 | 737 | ... | |||||||
growth rates | ||||||||||||||
Total Revenue Growth | % | ... | ... | -3.39 | -1.67 | -3.67 | -7.58 | -3.72 | ||||||
EBITDA Growth | % | ... | ... | -4.73 | -0.784 | -0.037 | -7.35 | -16.2 | ||||||
EBIT Growth | % | ... | ... | -7.83 | -0.610 | -2.70 | -7.99 | -25.4 | ||||||
Pre-Tax Profit Growth | % | ... | ... | -12.8 | -11.3 | -0.871 | -7.24 | -22.1 | ||||||
Net Profit Growth | % | ... | ... | -12.4 | -9.54 | -1.08 | -6.38 | -15.0 | ||||||
ratios | ||||||||||||||
ROE | % | ... | 16.6 | 15.9 | 16.4 | 15.5 | 13.3 | |||||||
ROCE | % | ... | ... | 24.5 | 21.7 | 22.6 | 21.9 | 18.3 | ||||||
Gross Margin | % | ... | ... | ... | ... | ... | ... | ... | ... | 71.9 | 72.9 | 74.9 | ||
EBITDA Margin | % | ... | 44.9 | 45.3 | 47.0 | 47.1 | 41.0 | |||||||
EBIT Margin | % | ... | 28.9 | 29.2 | 29.5 | 29.4 | 22.7 | |||||||
Net Margin | % | ... | 23.8 | 21.9 | 22.5 | 22.7 | 20.1 | |||||||
Payout Ratio | % | ... | 138 | 102 | 100 | 99.0 | 51.1 | ... | ||||||
Cost of Financing | % | ... | ... | 164 | 134 | 73.8 | 103 | 9.49 | ||||||
Net Debt/EBITDA | ... | -1.09 | -0.850 | -0.963 | -0.878 | -1.14 |
balance sheet | Unit | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 |
balance sheet | ||||||||||||||
Non-Current Assets | HRK mil | ... | 8,174 | 8,008 | 7,462 | 7,858 | 7,736 | |||||||
Property, Plant & Equipment | HRK mil | ... | 6,507 | 6,336 | 5,953 | 5,734 | 5,516 | |||||||
Intangible Assets | HRK mil | ... | 1,021 | 1,000 | 999 | 1,142 | 1,365 | |||||||
Goodwill | HRK mil | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 162 | ||
Current Assets | HRK mil | ... | 6,298 | 5,577 | 5,675 | 5,254 | 5,091 | |||||||
Inventories | HRK mil | ... | 255 | 216 | 175 | 155 | 115 | |||||||
Receivables | HRK mil | ... | 1,466 | 1,479 | 1,231 | 1,143 | 1,457 | |||||||
Cash & Cash Equivalents | HRK mil | ... | 4,195 | 3,282 | 3,704 | 3,146 | 3,370 | |||||||
Total Assets | HRK mil | ... | 14,472 | 13,585 | 13,136 | 13,113 | 12,827 | |||||||
Shareholders' Equity | HRK mil | ... | 12,012 | 11,054 | 11,019 | 10,899 | 10,700 | |||||||
Of Which Minority Interest | HRK mil | ... | 0 | 0 | 0.959 | 0 | 0 | |||||||
Liabilities | HRK mil | ... | 2,460 | 2,531 | 2,117 | 2,214 | 2,127 | |||||||
Non-Current Liabilities | HRK mil | ... | 549 | 410 | 625 | 547 | 281 | |||||||
Long-Term Debt | HRK mil | ... | 25.0 | 43.0 | 32.2 | 52.2 | 0 | |||||||
Current Liabilities | HRK mil | ... | 1,911 | 2,121 | 1,492 | 1,667 | 1,846 | |||||||
Short-Term Debt | HRK mil | ... | 1.00 | 13.0 | 18.9 | 5.99 | 5.00 | |||||||
Trade Payables | HRK mil | ... | 1,355 | 1,381 | 1,170 | 1,384 | 1,360 | |||||||
Equity And Liabilities | HRK mil | ... | 14,472 | 13,585 | 13,136 | 13,113 | 12,827 | |||||||
growth rates | ||||||||||||||
Total Asset Growth | % | ... | ... | -4.66 | -6.13 | -3.30 | -0.178 | -2.18 | ||||||
Shareholders' Equity Growth | % | ... | ... | -3.44 | -7.98 | -0.320 | -1.09 | -1.82 | ||||||
Net Debt Growth | % | ... | ... | -19.8 | -22.6 | 13.2 | -15.5 | 8.98 | ||||||
Total Debt Growth | % | ... | ... | 8.33 | 115 | -8.76 | 13.9 | -91.4 | ||||||
ratios | ||||||||||||||
Total Debt | HRK mil | ... | 26.0 | 56.0 | 51.1 | 58.2 | 5.00 | |||||||
Net Debt | HRK mil | ... | -4,169 | -3,226 | -3,653 | -3,088 | -3,365 | |||||||
Working Capital | HRK mil | ... | 366 | 314 | 236 | -85.7 | 212 | |||||||
Capital Employed | HRK mil | ... | 8,540 | 8,322 | 7,697 | 7,773 | 7,948 | |||||||
Net Debt/Equity | ... | -0.347 | -0.292 | -0.331 | -0.283 | -0.314 | ||||||||
Cost of Financing | % | ... | ... | 164 | 134 | 73.8 | 103 | 9.49 |
cash flow | Unit | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 |
cash flow | ||||||||||||||
Net Profit | HRK mil | ... | 2,024 | 1,831 | 1,811 | 1,696 | 1,441 | |||||||
Depreciation | HRK mil | ... | 1,365 | 1,350 | 1,415 | 1,326 | 1,314 | |||||||
Non-Cash Items | HRK mil | ... | ... | -7.00 | 33.0 | -254 | -285 | -326 | ||||||
Change in Working Capital | HRK mil | ... | ... | -362 | 52.0 | 78.3 | 321 | -298 | ||||||
Total Cash From Operations | HRK mil | ... | 3,020 | 3,266 | 3,050 | 3,058 | 2,131 | |||||||
Capital Expenditures | HRK mil | ... | -1,553 | -1,153 | -877 | -1,180 | -1,132 | |||||||
Other Investments | HRK mil | ... | -40.0 | -236 | 123 | -610 | -345 | |||||||
Total Cash From Investing | HRK mil | ... | -1,593 | -1,389 | -754 | -1,791 | -1,477 | |||||||
Dividends Paid | HRK mil | -2,788 | -1,863 | -1,813 | -1,679 | -737 | ... | |||||||
Issuance Of Debt | HRK mil | ... | ... | 2.00 | 30.0 | -4.91 | 7.11 | -53.2 | ||||||
Total Cash From Financing | HRK mil | ... | -2,455 | -2,790 | -1,874 | -1,825 | -1,763 | |||||||
Net Change In Cash | HRK mil | ... | -1,028 | -913 | 422 | -558 | -1,109 | |||||||
ratios | ||||||||||||||
Days Sales Outstanding | days | ... | 62.8 | 64.5 | 55.7 | 55.9 | 74.1 | |||||||
Days Sales Of Inventory | days | ... | ... | ... | ... | ... | ... | ... | ... | 28.2 | 28.1 | 23.3 | ||
Days Payable Outstanding | days | ... | ... | ... | ... | ... | ... | ... | ... | 189 | 250 | 276 | ||
Cash Conversion Cycle | days | ... | ... | ... | ... | ... | ... | ... | ... | -105 | -166 | -178 | ||
Cash Earnings | HRK mil | ... | 3,389 | 3,181 | 3,226 | 3,022 | 2,755 | |||||||
Cash Earnings Per Share | HRK | ... | ... | ... | ... | 41.4 | 38.8 | 39.4 | 36.9 | 33.6 | ||||
Price/Cash Earnings (P/CE) | ... | ... | ... | ... | 6.64 | 7.43 | 6.13 | 5.38 | 5.27 | |||||
Free Cash Flow | HRK mil | ... | 1,427 | 1,877 | 2,296 | 1,268 | 654 | |||||||
Free Cash Flow Yield | % | ... | ... | ... | ... | 6.12 | 7.96 | 12.6 | 7.64 | 4.36 |
other data | Unit | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 |
other data | ||||||||||||||
ROA | % | ... | 13.7 | 13.1 | 13.6 | 12.9 | 11.1 | |||||||
Gross Margin | % | ... | ... | ... | ... | ... | ... | ... | ... | 71.9 | 72.9 | 74.9 | ||
Effective Tax Rate | % | ... | 21.1 | 19.5 | 19.7 | 18.9 | 11.5 | |||||||
Enterprise Value (EV) | USD mil | ... | ... | ... | ... | 3,597 | 3,701 | 2,773 | 2,297 | 2,020 | ||||
EV/EBITDA | ... | ... | ... | ... | 4.97 | 5.37 | 3.91 | 3.82 | 3.91 | |||||
EV/Capital Employed | ... | ... | ... | ... | 2.15 | 2.45 | 2.10 | 1.69 | 1.40 | |||||
EV/Sales | ... | ... | ... | ... | 2.23 | 2.43 | 1.84 | 1.80 | 1.61 | |||||
EV/EBIT | ... | ... | ... | ... | 7.72 | 8.33 | 6.23 | 6.14 | 7.07 | |||||
Capital Expenditures (As % of Sales) | % | ... | 18.2 | 13.8 | 10.9 | 15.8 | 15.8 |
Get all company financials in excel:
Hrvatski Telekom d.d. is a Croatia-based provider of telecommunications services. The Company combines the services of fixed and mobile telephony, data transmission, Internet and international communications. The Company is the leading provider of telecommunications services in Croatia, serving more than 1.3 million fixed lines, nearly 2.5 million mobile subscribers and 648,000 broadband connections. Hrvatski Telekom provides telecommunications services, design and construction of telecommunications networks. In addition to the provision of fixed telephony services (fixed-line access and traffic, as well as fixed-network supplementary services), the Group also provides Internet services, including IPTV, data transmission services and GSM and UMTS mobile telephone networks. Hrvatski Telekom is owned by T-Mobile Global Holding.
Hrvatski Telekom has been growing its sales by a year on average in the last 5 years. EBITDA has fallen on average by 6.8% a year during that time to total of HRK 2,668 mil in 2015, or 38.0% of sales. That’s compared to 42.1% average margin seen in last five years.
The company netted HRK 925 mil in 2015 implying ROE of 8.20% and ROCE of 10.8%. Again, the average figures were 12.8% and 17.5%, respectively when looking at the previous 5 years.
Hrvatski Telekom’s net debt amounted to HRK -3,739 mil at the end of 2015, or -0.326 of equity. When compared to EBITDA, net debt was -1.40x, down when compared to average of -1.14x seen in the last 5 years.
Hrvatski Telekom stock traded at HRK 144 per share at the end of 2015 resulting in a market capitalization of USD 1,867 mil. Over the previous five years, stock price fell by 50% or -12.9% a year on average. The closing price put stock at a 12-month trailing EV/EBITDA of 2.84x and price to earnings (PE) of 12.8x as of 2015.