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LARS Chemie

LARS Chemie's Cash & Cash Equivalents rose 24.8% yoy to CZK 8.14 mil in 2014

By Helgi Library - April 2, 2020

LARS Chemie's total assets reached CZK 65.6 mil at the end of 2014, up 84.8% compared to the previous year. Curren...

LARS Chemie's Cash & Cash Equivalents rose 24.8% yoy to CZK 8.14 mil in 2014

By Helgi Library - April 2, 2020

LARS Chemie's total assets reached CZK 65.6 mil at the end of 2014, up 84.8% compared to the previous year. Curren...

Profit Statement 2012 2013 2014
Sales CZK mil 63.9 55.3 62.2
Gross Profit CZK mil 15.4 14.5 15.8
EBITDA CZK mil 5.56 6.86 6.33
EBIT CZK mil 4.02 4.64 3.31
Financing Cost CZK mil 1.25 1.01 1.14
Pre-Tax Profit CZK mil 2.77 3.63 2.17
Net Profit CZK mil 2.22 3.09 1.92
Balance Sheet 2012 2013 2014
Total Assets CZK mil 34.3 35.5 65.6
Non-Current Assets CZK mil 11.8 10.2 22.5
Current Assets CZK mil 21.7 24.5 42.3
Working Capital CZK mil 3.22 12.7 9.45
Shareholders' Equity CZK mil 6.75 8.85 10.8
Liabilities CZK mil 27.6 26.7 54.9
Total Debt CZK mil 17.0 16.8 41.6
Net Debt CZK mil 10.2 10.3 33.4
Ratios 2012 2013 2014
ROE % 37.6 39.6 19.6
ROCE % 15.7 16.3 6.99
Gross Margin % 24.1 26.2 25.5
EBITDA Margin % 8.71 12.4 10.2
EBIT Margin % 6.30 8.39 5.32
Net Margin % 3.48 5.59 3.09
Net Debt/EBITDA 1.84 1.50 5.29
Net Debt/Equity 1.52 1.16 3.11
Cost of Financing % 8.98 5.99 3.91
Cash Flow 2012 2013 2014
Cash Conversion Cycle days 11.0 84.7 48.8
Cash Earnings CZK mil 3.76 5.32 4.93

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summary Unit 2007 2008 2009 2010 2011 2012 2013 2014
income statement                
Sales CZK mil   25.1 24.2 37.9 51.9 63.9    
Gross Profit CZK mil   4.64 5.66 8.69 11.8 15.4    
EBIT CZK mil   0.117 1.17 2.23 2.09 4.02    
Net Profit CZK mil   0.020 0.696 1.59 1.23 2.22    
ROE %   1.32 37.2 52.7 27.7 37.6    
EBIT Margin %   0.467 4.83 5.89 4.03 6.30    
Net Margin %   0.080 2.87 4.19 2.36 3.48    
Employees ... ... ... ... ... 36.0    
balance sheet                
Total Assets CZK mil   8.12 9.58 18.5 28.0 34.3    
Non-Current Assets CZK mil   0.225 0.075 1.16 10.3 11.8    
Current Assets CZK mil   7.71 9.36 16.9 17.0 21.7    
Shareholders' Equity CZK mil   1.53 2.22 3.81 5.04 6.75    
Liabilities CZK mil   6.60 7.36 14.7 22.9 27.6    
Non-Current Liabilities CZK mil   0 0 1.59 10.6 23.6    
Current Liabilities CZK mil   5.86 5.90 11.3 11.6 10.4    
Net Debt/EBITDA   1.92 -0.125 0.576 2.82 1.84    
Net Debt/Equity   0.447 -0.074 0.415 1.89 1.52    
Cost of Financing % ... 14.5 23.5 10.4 7.50 8.98    
income statement Unit 2007 2008 2009 2010 2011 2012 2013 2014
income statement                
Sales CZK mil   25.1 24.2 37.9 51.9 63.9    
Cost of Goods & Services CZK mil   20.4 18.6 29.2 40.1 48.5    
Gross Profit CZK mil   4.64 5.66 8.69 11.8 15.4    
Staff Cost CZK mil   4.48 4.24 5.64 8.30 9.70    
Other Cost CZK mil   -0.191 0.095 0.303 0.085 0.134    
EBITDA CZK mil   0.355 1.32 2.74 3.38 5.56    
Depreciation CZK mil   0.238 0.152 0.510 1.29 1.54    
EBIT CZK mil   0.117 1.17 2.23 2.09 4.02    
Financing Cost CZK mil   0.072 0.256 0.239 0.524 1.25    
Extraordinary Cost CZK mil   0 0 0 0 0    
Pre-Tax Profit CZK mil   0.045 0.913 1.99 1.57 2.77    
Tax CZK mil   0.025 0.217 0.405 0.342 0.554    
Minorities CZK mil   0 0 0 0 0    
Net Profit CZK mil   0.020 0.696 1.59 1.23 2.22    
growth rates                
Total Revenue Growth % ... 22.5 -3.31 56.4 36.9 23.1    
Operating Cost Growth % ... 38.6 1.19 37.1 41.1 17.3    
EBITDA Growth % ... -64.3 272 108 23.2 64.7    
EBIT Growth % ... -86.1 899 90.9 -6.27 92.3    
Pre-Tax Profit Growth % ... -93.7 1,929 118 -21.3 76.8    
Net Profit Growth % ... -96.3 3,380 128 -22.8 81.0    
ratios                
ROE %   1.32 37.2 52.7 27.7 37.6    
ROCE % ... 0.903 25.7 33.8 12.4 15.7    
Gross Margin %   18.5 23.3 22.9 22.7 24.1    
EBITDA Margin %   1.42 5.45 7.23 6.51 8.71    
EBIT Margin %   0.467 4.83 5.89 4.03 6.30    
Net Margin %   0.080 2.87 4.19 2.36 3.48    
Cost of Financing % ... 14.5 23.5 10.4 7.50 8.98    
Net Debt/EBITDA   1.92 -0.125 0.576 2.82 1.84    
balance sheet Unit 2007 2008 2009 2010 2011 2012 2013 2014
balance sheet                
Non-Current Assets CZK mil   0.225 0.075 1.16 10.3 11.8    
Property, Plant & Equipment CZK mil   0.225 0.075 1.16 10.3 11.8    
Intangible Assets CZK mil   0 0 0 0 0    
Goodwill CZK mil   0 0 0 0 0    
Current Assets CZK mil   7.71 9.36 16.9 17.0 21.7    
Inventories CZK mil   2.70 2.56 4.12 6.29 5.54    
Receivables CZK mil   4.93 5.17 11.1 7.02 7.33    
Cash & Cash Equivalents CZK mil   0.057 1.61 1.55 1.32 6.72    
Total Assets CZK mil   8.12 9.58 18.5 28.0 34.3    
Shareholders' Equity CZK mil   1.53 2.22 3.81 5.04 6.75    
Of Which Minority Interest CZK mil   0 0 0 0 0    
Liabilities CZK mil   6.60 7.36 14.7 22.9 27.6    
Non-Current Liabilities CZK mil   0 0 1.59 10.6 23.6    
Long-Term Debt CZK mil   0 0 1.59 10.6 11.8    
Deferred Tax Liabilities CZK mil   0 0 0 0 0    
Current Liabilities CZK mil   5.86 5.90 11.3 11.6 10.4    
Short-Term Debt CZK mil   0.739 1.44 1.54 0.280 5.17    
Trade Payables CZK mil   5.28 4.97 9.79 10.4 9.64    
Provisions CZK mil   0 0 0 0 0    
Equity And Liabilities CZK mil   8.12 9.58 18.5 28.0 34.3    
growth rates                
Total Asset Growth % ... 13.2 17.9 93.1 51.3 22.7    
Shareholders' Equity Growth % ... 1.33 45.6 71.5 32.2 34.1    
Net Debt Growth % ... 633 -124 -1,057 503 7.51    
Total Debt Growth % ... 192 95.1 117 246 56.4    
ratios                
Total Debt CZK mil   0.739 1.44 3.13 10.8 17.0    
Net Debt CZK mil   0.682 -0.165 1.58 9.52 10.2    
Working Capital CZK mil   2.35 2.76 5.41 2.94 3.22    
Capital Employed CZK mil   2.57 2.84 6.57 13.2 15.1    
Net Debt/Equity   0.447 -0.074 0.415 1.89 1.52    
Cost of Financing % ... 14.5 23.5 10.4 7.50 8.98    
cash flow Unit 2007 2008 2009 2010 2011 2012 2013 2014
cash flow                
Net Profit CZK mil   0.020 0.696 1.59 1.23 2.22    
Depreciation CZK mil   0.238 0.152 0.510 1.29 1.54    
ratios                
Days Sales Outstanding days   71.8 77.9 107 49.4 41.9    
Days Sales Of Inventory days   48.2 50.3 51.4 57.3 41.7    
Days Payable Outstanding days   94.4 97.6 122 94.4 72.7    
Cash Conversion Cycle days   25.6 30.6 35.8 12.2 11.0    
Cash Earnings CZK mil   0.258 0.848 2.10 2.51 3.76    
other data Unit 2007 2008 2009 2010 2011 2012 2013 2014
other data                
ROA %   0.262 7.87 11.3 5.28 7.12    
Gross Margin %   18.5 23.3 22.9 22.7 24.1    
Cost Per Employee USD per month ... ... ... ... ... 1,148    
Cost Per Employee (Local Currency) CZK per month ... ... ... ... ... 22,456    
Staff Cost (As % Of Total Cost) %   17.9 18.4 15.8 16.7 16.2    
Effective Tax Rate %   55.6 23.8 20.3 21.8 20.0    
Revenues From Abroad CZK mil ... ... ... ... ... 9.54    
Revenues From Abroad (As % Of Total) % ... ... ... ... ... 14.9    

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Lars Chemie, s.r.o. is a Czech Republic-based company involved in a processing of industrial chemicals mainly for automotive, electro and machinery industries. The Company's range of products and production includes enclosed sandblasting, outdoor sandblasting, sanding of wheels, advertising sanding metal jet blasting, metal varnishing, metallization of metals, hot metal plating, application of coating systems, electroplating of jointing material chemicals for industry, multi-purpose chemicals, petroleum products, industrial solvents, industrial phosphates, degreasing fluids. The Company was founded in 2004 as a transformation of Lars CZ, which has been operating on the Czech market since 1995. The Company is based in Brno, in the Czech Republic

Finance

LARS Chemie has been growing its sales by a year on average in the last 5 years. EBITDA has grown on average by 36.8% a year during that time to total of CZK 6.33 mil in 2014, or 10.2% of sales. That’s compared to 9.01% average margin seen in last five years.

The company netted CZK 1.92 mil in 2014 implying ROE of 19.6% and ROCE of 6.99%. Again, the average figures were 35.4% and 17.0%, respectively when looking at the previous 5 years.

LARS Chemie’s net debt amounted to CZK 33.4 mil at the end of 2014, or 3.11 of equity. When compared to EBITDA, net debt was 5.29x, up when compared to average of 2.40x seen in the last 5 years.

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