By Helgi Library - April 2, 2020
Netia's total assets reached PLN 2,689 mil at the end of 2015, down 6.98% compared to the previous year. Current a...
By Helgi Library - April 2, 2020
Netia's total assets reached PLN 2,689 mil at the end of 2015, down 6.98% compared to the previous year. Current a...
Profit Statement | 2013 | 2014 | 2015 | |
Sales | PLN mil | 1,876 | 1,674 | 1,572 |
Gross Profit | PLN mil | 1,061 | 968 | 908 |
EBITDA | PLN mil | 533 | 582 | 449 |
EBIT | PLN mil | 92.8 | 158 | 27.9 |
Financing Cost | PLN mil | 28.0 | 21.7 | 7.20 |
Pre-Tax Profit | PLN mil | 64.4 | 126 | 20.7 |
Net Profit | PLN mil | 46.3 | 175 | 2.21 |
Dividends | PLN mil | 146 | 209 | ... |
Balance Sheet | 2013 | 2014 | 2015 | |
Total Assets | PLN mil | 2,938 | 2,891 | 2,689 |
Non-Current Assets | PLN mil | 2,621 | 2,408 | 2,399 |
Current Assets | PLN mil | 317 | 483 | 290 |
Working Capital | PLN mil | -37.8 | -76.2 | -41.6 |
Shareholders' Equity | PLN mil | 2,205 | 2,243 | 2,036 |
Liabilities | PLN mil | 733 | 648 | 653 |
Total Debt | PLN mil | 384 | 301 | 335 |
Net Debt | PLN mil | 291 | 93.2 | 252 |
Ratios | 2013 | 2014 | 2015 | |
ROE | % | 2.06 | 7.86 | 0.103 |
ROCE | % | 1.73 | 7.11 | 0.094 |
Gross Margin | % | 56.5 | 57.8 | 57.8 |
EBITDA Margin | % | 28.4 | 34.7 | 28.6 |
EBIT Margin | % | 4.94 | 9.42 | 1.78 |
Net Margin | % | 2.47 | 10.4 | 0.141 |
Net Debt/EBITDA | 0.546 | 0.160 | 0.562 | |
Net Debt/Equity | 0.132 | 0.042 | 0.124 | |
Cost of Financing | % | 5.99 | 6.32 | 2.27 |
Valuation | 2013 | 2014 | 2015 | |
Market Capitalisation | USD mil | 620 | 550 | 483 |
Enterprise Value (EV) | USD mil | 717 | 576 | 548 |
Number Of Shares | mil | 355 | 349 | 349 |
Share Price | PLN | 5.27 | 5.58 | 5.40 |
EV/EBITDA | 4.25 | 3.25 | 4.54 | |
EV/Sales | 1.21 | 1.13 | 1.30 | |
Price/Earnings (P/E) | 40.4 | 11.1 | 853 | |
Price/Book Value (P/BV) | 0.848 | 0.868 | 0.926 | |
Dividend Yield | % | 7.82 | 10.7 | ... |
Get all company financials in excel:
summary | Unit | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 |
income statement | ||||||||||||||||||
Sales | PLN mil | 1,506 | 1,569 | 1,619 | 2,121 | 1,876 | ||||||||||||
Gross Profit | PLN mil | 1,207 | 1,269 | 1,310 | 1,137 | 1,061 | ||||||||||||
EBIT | PLN mil | -7.71 | 43.4 | 69.6 | -21.0 | 92.8 | ||||||||||||
Net Profit | PLN mil | 88.7 | 264 | 249 | -87.7 | 46.3 | ||||||||||||
ROE | % | 4.49 | 12.2 | 10.4 | -3.66 | 2.06 | ||||||||||||
EBIT Margin | % | -0.512 | 2.76 | 4.30 | -0.988 | 4.94 | ||||||||||||
Net Margin | % | 5.89 | 16.8 | 15.4 | -4.13 | 2.47 | ||||||||||||
Employees | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 231 | ... | ... | ... | ... | ... | ||
balance sheet | ||||||||||||||||||
Total Assets | PLN mil | 2,342 | 2,569 | 3,553 | 3,233 | 2,938 | ||||||||||||
Non-Current Assets | PLN mil | 1,899 | 1,974 | 3,100 | 2,777 | 2,621 | ||||||||||||
Current Assets | PLN mil | 443 | 595 | 453 | 456 | 317 | ||||||||||||
Shareholders' Equity | PLN mil | 2,026 | 2,298 | 2,500 | 2,296 | 2,205 | ||||||||||||
Liabilities | PLN mil | 315 | 271 | 1,053 | 937 | 733 | ||||||||||||
Non-Current Liabilities | PLN mil | 21.7 | 27.4 | 552 | 451 | 317 | ||||||||||||
Current Liabilities | PLN mil | 294 | 244 | 501 | 486 | 416 | ||||||||||||
Net Debt/EBITDA | -0.630 | -0.511 | 1.42 | 0.884 | 0.546 | |||||||||||||
Net Debt/Equity | -0.090 | -0.076 | 0.215 | 0.178 | 0.132 | |||||||||||||
Cost of Financing | % | ... | ... | ... | ... | ... | 84.9 | 225 | 0.088 | 6.01 | 5.99 | |||||||
cash flow | ||||||||||||||||||
Total Cash From Operations | PLN mil | ... | ... | 331 | 386 | 380 | 541 | 575 | ||||||||||
Total Cash From Investing | PLN mil | ... | ... | -303 | -289 | -1,073 | -270 | -279 | ||||||||||
Total Cash From Financing | PLN mil | ... | ... | -7.04 | -7.93 | 645 | -304 | -327 | ||||||||||
Net Change In Cash | PLN mil | ... | ... | 20.8 | 89.0 | -48.0 | -32.6 | -30.6 | ||||||||||
valuation | ||||||||||||||||||
Market Capitalisation | USD mil | ... | ... | ... | ... | 667 | 690 | 602 | 524 | 620 | ||||||||
Number Of Shares | mil | ... | ... | ... | ... | 390 | 393 | 391 | 379 | 355 | ||||||||
Share Price | PLN | ... | ... | ... | ... | 4.90 | 5.20 | 5.30 | 4.28 | 5.27 | ||||||||
Earnings Per Share (EPS) | PLN | ... | ... | ... | ... | 0.228 | 0.672 | 0.636 | -0.231 | 0.131 | ||||||||
Book Value Per Share | PLN | ... | ... | ... | ... | 5.20 | 5.85 | 6.39 | 6.06 | 6.22 | ||||||||
Dividend Per Share | PLN | ... | ... | ... | ... | 0 | 0 | 0 | 0 | 0.412 | ... | |||||||
Price/Earnings (P/E) | ... | ... | ... | ... | 21.5 | 7.74 | 8.34 | -18.5 | 40.4 | |||||||||
Price/Book Value (P/BV) | ... | ... | ... | ... | 0.942 | 0.889 | 0.830 | 0.706 | 0.848 | |||||||||
Dividend Yield | % | ... | ... | ... | ... | 0 | 0 | 0 | 0 | 7.82 | ... | |||||||
Earnings Per Share Growth | % | ... | ... | ... | ... | ... | -61.6 | 195 | -5.37 | -136 | -156 | |||||||
Book Value Per Share Growth | % | ... | ... | ... | ... | ... | 4.95 | 12.5 | 9.24 | -5.17 | 2.62 |
income statement | Unit | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 |
income statement | ||||||||||||||||||
Sales | PLN mil | 1,506 | 1,569 | 1,619 | 2,121 | 1,876 | ||||||||||||
Cost of Goods & Services | PLN mil | 299 | 301 | 309 | 985 | 815 | ||||||||||||
Gross Profit | PLN mil | 1,207 | 1,269 | 1,310 | 1,137 | 1,061 | ||||||||||||
Staff Cost | PLN mil | ... | 19.9 | 21.5 | 10.2 | 11.6 | 9.38 | |||||||||||
Other Cost | PLN mil | ... | 897 | 903 | 922 | 664 | 519 | |||||||||||
EBITDA | PLN mil | 291 | 344 | 378 | 462 | 533 | ||||||||||||
Depreciation | PLN mil | 299 | 301 | 309 | 482 | 440 | ||||||||||||
EBIT | PLN mil | -7.71 | 43.4 | 69.6 | -21.0 | 92.8 | ||||||||||||
Financing Cost | PLN mil | 1.86 | 0.425 | 0.307 | 37.5 | 28.0 | ||||||||||||
Extraordinary Cost | PLN mil | -10.7 | -246 | -248 | 2.49 | 0.360 | ||||||||||||
Pre-Tax Profit | PLN mil | 1.13 | 289 | 317 | -60.9 | 64.4 | ||||||||||||
Tax | PLN mil | -87.6 | 24.9 | 68.5 | 26.8 | 18.1 | ||||||||||||
Minorities | PLN mil | 0 | 0 | 0 | 0 | 0 | ||||||||||||
Net Profit | PLN mil | 88.7 | 264 | 249 | -87.7 | 46.3 | ||||||||||||
Dividends | PLN mil | 0 | 0 | 0 | 0 | 146 | ... | |||||||||||
growth rates | ||||||||||||||||||
Total Revenue Growth | % | ... | 34.3 | 4.21 | 3.15 | 31.0 | -11.6 | |||||||||||
Operating Cost Growth | % | ... | ... | 31.0 | 0.885 | 0.776 | -27.5 | -21.8 | ||||||||||
EBITDA Growth | % | ... | 92.4 | 18.3 | 9.96 | 22.0 | 15.4 | |||||||||||
EBIT Growth | % | ... | -93.5 | -663 | 60.4 | -130 | -543 | |||||||||||
Pre-Tax Profit Growth | % | ... | -99.5 | 25,568 | 9.87 | -119 | -206 | |||||||||||
Net Profit Growth | % | ... | -61.5 | 198 | -5.73 | -135 | -153 | |||||||||||
ratios | ||||||||||||||||||
ROE | % | 4.49 | 12.2 | 10.4 | -3.66 | 2.06 | ||||||||||||
ROCE | % | ... | 4.94 | 14.1 | 9.92 | -2.99 | 1.73 | |||||||||||
Gross Margin | % | 80.2 | 80.8 | 80.9 | 53.6 | 56.5 | ||||||||||||
EBITDA Margin | % | 19.3 | 21.9 | 23.4 | 21.8 | 28.4 | ||||||||||||
EBIT Margin | % | -0.512 | 2.76 | 4.30 | -0.988 | 4.94 | ||||||||||||
Net Margin | % | 5.89 | 16.8 | 15.4 | -4.13 | 2.47 | ||||||||||||
Payout Ratio | % | 0 | 0 | 0 | 0 | 316 | ... | |||||||||||
Cost of Financing | % | ... | ... | ... | ... | ... | 84.9 | 225 | 0.088 | 6.01 | 5.99 | |||||||
Net Debt/EBITDA | -0.630 | -0.511 | 1.42 | 0.884 | 0.546 |
balance sheet | Unit | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 |
balance sheet | ||||||||||||||||||
Non-Current Assets | PLN mil | 1,899 | 1,974 | 3,100 | 2,777 | 2,621 | ||||||||||||
Property, Plant & Equipment | PLN mil | 1,387 | 1,476 | 2,185 | 2,066 | 1,957 | ||||||||||||
Intangible Assets | PLN mil | 389 | 389 | 765 | 597 | 538 | ||||||||||||
Goodwill | PLN mil | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 281 | 281 | ||
Current Assets | PLN mil | 443 | 595 | 453 | 456 | 317 | ||||||||||||
Inventories | PLN mil | 3.14 | 11.4 | 5.31 | 2.09 | 2.66 | ||||||||||||
Receivables | PLN mil | 174 | 140 | 256 | 248 | 191 | ||||||||||||
Cash & Cash Equivalents | PLN mil | 184 | 176 | 159 | 143 | 93.4 | ||||||||||||
Total Assets | PLN mil | 2,342 | 2,569 | 3,553 | 3,233 | 2,938 | ||||||||||||
Shareholders' Equity | PLN mil | 2,026 | 2,298 | 2,500 | 2,296 | 2,205 | ||||||||||||
Of Which Minority Interest | PLN mil | 0 | 0 | 0.005 | 0 | 0 | ||||||||||||
Liabilities | PLN mil | 315 | 271 | 1,053 | 937 | 733 | ||||||||||||
Non-Current Liabilities | PLN mil | 21.7 | 27.4 | 552 | 451 | 317 | ||||||||||||
Long-Term Debt | PLN mil | 0 | 0 | 515 | 384 | 257 | ||||||||||||
Deferred Tax Liabilities | PLN mil | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 17.7 | 17.8 | ||
Current Liabilities | PLN mil | 294 | 244 | 501 | 486 | 416 | ||||||||||||
Short-Term Debt | PLN mil | 0.347 | 0.031 | 181 | 166 | 127 | ||||||||||||
Trade Payables | PLN mil | 249 | 207 | 263 | 260 | 232 | ||||||||||||
Equity And Liabilities | PLN mil | 2,342 | 2,569 | 3,553 | 3,233 | 2,938 | ||||||||||||
growth rates | ||||||||||||||||||
Total Asset Growth | % | ... | 2.58 | 9.69 | 38.3 | -9.01 | -9.13 | |||||||||||
Shareholders' Equity Growth | % | ... | 5.07 | 13.4 | 8.83 | -8.16 | -4.00 | |||||||||||
Net Debt Growth | % | ... | -2.90 | -4.09 | -405 | -24.0 | -28.7 | |||||||||||
Total Debt Growth | % | ... | ... | ... | ... | ... | ... | -91.4 | -91.1 | 2,242,410 | -20.8 | -30.2 | ||||||
ratios | ||||||||||||||||||
Total Debt | PLN mil | 0.347 | 0.031 | 695 | 551 | 384 | ||||||||||||
Net Debt | PLN mil | -183 | -176 | 536 | 408 | 291 | ||||||||||||
Working Capital | PLN mil | -72.1 | -55.7 | -2.32 | -9.77 | -37.8 | ||||||||||||
Capital Employed | PLN mil | 1,827 | 1,918 | 3,098 | 2,767 | 2,583 | ||||||||||||
Net Debt/Equity | -0.090 | -0.076 | 0.215 | 0.178 | 0.132 | |||||||||||||
Cost of Financing | % | ... | ... | ... | ... | ... | 84.9 | 225 | 0.088 | 6.01 | 5.99 |
cash flow | Unit | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 |
cash flow | ||||||||||||||||||
Net Profit | PLN mil | 88.7 | 264 | 249 | -87.7 | 46.3 | ||||||||||||
Depreciation | PLN mil | 299 | 301 | 309 | 482 | 440 | ||||||||||||
Non-Cash Items | PLN mil | ... | ... | -6.21 | -162 | -124 | 139 | 60.9 | ||||||||||
Change in Working Capital | PLN mil | ... | ... | -49.9 | -16.4 | -53.4 | 7.45 | 28.0 | ||||||||||
Total Cash From Operations | PLN mil | ... | ... | 331 | 386 | 380 | 541 | 575 | ||||||||||
Capital Expenditures | PLN mil | ... | ... | -238 | -193 | -263 | -263 | -282 | ||||||||||
Other Investments | PLN mil | ... | ... | -65.5 | -95.8 | -810 | -7.53 | 3.06 | ||||||||||
Total Cash From Investing | PLN mil | ... | ... | -303 | -289 | -1,073 | -270 | -279 | ||||||||||
Dividends Paid | PLN mil | ... | ... | 0 | 0 | 0 | 0 | -146 | ... | |||||||||
Issuance Of Debt | PLN mil | ... | ... | -3.68 | -0.316 | 695 | -145 | -167 | ||||||||||
Total Cash From Financing | PLN mil | ... | ... | -7.04 | -7.93 | 645 | -304 | -327 | ||||||||||
Net Change In Cash | PLN mil | ... | ... | 20.8 | 89.0 | -48.0 | -32.6 | -30.6 | ||||||||||
ratios | ||||||||||||||||||
Days Sales Outstanding | days | 42.1 | 32.5 | 57.6 | 42.7 | 37.2 | ||||||||||||
Days Sales Of Inventory | days | 3.84 | 13.8 | 6.28 | 0.776 | 1.19 | ||||||||||||
Days Payable Outstanding | days | 304 | 251 | 311 | 96.4 | 104 | ||||||||||||
Cash Conversion Cycle | days | -258 | -205 | -247 | -52.9 | -65.3 | ||||||||||||
Cash Earnings | PLN mil | 387 | 565 | 558 | 395 | 486 | ||||||||||||
Cash Earnings Per Share | PLN | ... | ... | ... | ... | 0.994 | 1.44 | 1.42 | 1.04 | 1.37 | ||||||||
Price/Cash Earnings (P/CE) | ... | ... | ... | ... | 4.93 | 3.62 | 3.72 | 4.11 | 3.84 | |||||||||
Free Cash Flow | PLN mil | ... | ... | 27.8 | 96.9 | -693 | 271 | 297 | ||||||||||
Free Cash Flow Yield | % | ... | ... | ... | ... | 1.34 | 4.65 | -38.8 | 15.9 | 15.1 |
other data | Unit | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 |
other data | ||||||||||||||||||
ROA | % | 3.84 | 10.7 | 8.13 | -2.58 | 1.50 | ||||||||||||
Gross Margin | % | 80.2 | 80.8 | 80.9 | 53.6 | 56.5 | ||||||||||||
Employees | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 231 | ... | ... | ... | ... | ... | ||
Cost Per Employee | USD per month | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 2,303 | ... | ... | ... | ... | ... | |
Cost Per Employee (Local Currency) | PLN per month | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 7,177 | ... | ... | ... | ... | ... | |
Staff Cost (As % Of Total Cost) | % | ... | 1.31 | 1.41 | 0.661 | 0.541 | 0.526 | |||||||||||
Effective Tax Rate | % | -7,784 | 8.61 | 21.6 | -44.0 | 28.1 | ||||||||||||
Enterprise Value (EV) | USD mil | ... | ... | ... | ... | 603 | 631 | 758 | 656 | 717 | ||||||||
EV/EBITDA | ... | ... | ... | ... | 6.46 | 5.53 | 5.94 | 4.63 | 4.25 | |||||||||
EV/Capital Employed | ... | ... | ... | ... | 0.945 | 0.973 | 0.843 | 0.734 | 0.836 | |||||||||
EV/Sales | ... | ... | ... | ... | 1.25 | 1.21 | 1.39 | 1.01 | 1.21 | |||||||||
EV/EBIT | ... | ... | ... | ... | -244 | 43.9 | 32.3 | -102 | 24.4 | |||||||||
Capital Expenditures (As % of Sales) | % | ... | ... | 15.8 | 12.3 | 16.2 | 12.4 | 15.0 | ||||||||||
Sales from Direct Voice | PLN mil | ... | ... | ... | ... | 743 | 742 | 737 | 948 | 809 | ... | ... | ||||||
Sales from Direct Voice - Monthly Fees | PLN mil | ... | ... | ... | ... | 458 | 485 | 517 | 663 | 588 | ... | ... | ||||||
Sales from Direct Voice - Calling Charges | PLN mil | ... | ... | ... | ... | 286 | 256 | 220 | 285 | 220 | ... | ... | ||||||
Sales from Direct Voice - Other | PLN mil | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 0.615 | 0.743 | 0.568 | ... | ... |
Sales from Indirect Voice | PLN mil | ... | ... | ... | ... | 65.7 | 37.4 | 22.5 | 35.0 | 19.2 | ... | ... | ||||||
Sales from Data | PLN mil | ... | ... | ... | ... | 520 | 580 | 604 | 766 | 725 | ... | ... | ||||||
Sales from Interconnection | PLN mil | ... | ... | ... | ... | 66.9 | 68.4 | 77.6 | 110 | 85.3 | ... | ... | ||||||
Sales from Wholesale Services | PLN mil | ... | ... | ... | ... | 81.6 | 116 | 124 | 136 | 107 | ... | ... | ||||||
Sales from Other Telecommunication Service | PLN mil | ... | ... | ... | ... | 22.5 | 21.6 | 48.0 | 114 | 122 | ... | ... | ||||||
Sales from Radio Communication Service | PLN mil | ... | ... | ... | ... | ... | ... | 5.36 | 4.86 | 4.35 | 3.54 | 2.86 | ... | ... | ||||
Sales from Other Services | PLN mil | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 0.430 | 9.11 | 5.56 | ... | ... |
Subscribers Total | mil | ... | ... | ... | ... | ... | ... | ... | ... | 0.675 | 0.812 | 1.09 | 1.04 | ... | ... | ... | ||
Broadband Subscribers | mil | ... | ... | ... | ... | ... | ... | ... | ... | 0.559 | 0.690 | 0.912 | 0.875 | ... | ... | ... | ||
Fixed Voice Subscribers | mil | ... | ... | ... | ... | ... | ... | ... | ... | 0.116 | 0.122 | 0.175 | 0.164 | ... | ... | ... | ||
ARPU Total | PLN per month | ... | ... | ... | ... | ... | ... | ... | ... | 191 | 176 | 142 | 166 | ... | ... | ... | ||
ARPU - Fixed-Lines | PLN per month | ... | ... | ... | ... | ... | ... | ... | ... | 45.9 | 40.1 | 32.1 | 91.8 | 77.7 | ... | ... | ||
ARPU - Data Transmission | PLN per month | ... | ... | ... | ... | ... | ... | ... | ... | 376 | 407 | 340 | 377 | 367 | ... | ... | ||
Market Share - Fixed Broadband | % | ... | ... | ... | ... | ... | ... | ... | ... | ... | 10.0 | 11.5 | 14.4 | 13.3 | 12.7 | ... | ... | |
Market Share - Fixed Voice | % | ... | ... | ... | ... | ... | ... | ... | ... | ... | 11.5 | 13.0 | 19.9 | 19.8 | 18.8 | ... | ... |
Get all company financials in excel:
Netia SA is a Poland-based integrated telecommunication services provider. The Company is the owner of the second-largest fixed-line network in Poland. Netia's products and services include switched, fixed-line voice telephone, integrated service digital network, voice over internet protocol, voice mail, dial-up and fixed-access internet, leased lines and frame relay and MPLS services. The company also offers wholesale services, including the wholesale termination of in-bound traffic, ducts, dark fiber and co-location services based upon intelligent networks and provide broadband Internet access with ADSL technology. The Company's offer is organized into four segments: Home, SOHO/SME, Corporate and Carriers
Netia has been growing its sales by a year on average in the last 5 years. EBITDA has grown on average by 5.47% a year during that time to total of PLN 449 mil in 2015, or 28.6% of sales. That’s compared to 27.4% average margin seen in last five years.
The company netted PLN 2.21 mil in 2015 implying ROE of 0.103% and ROCE of 0.094%. Again, the average figures were 3.35% and 3.17%, respectively when looking at the previous 5 years.
Netia’s net debt amounted to PLN 252 mil at the end of 2015, or 0.124 of equity. When compared to EBITDA, net debt was 0.562x, down when compared to average of 0.714x seen in the last 5 years.
Netia stock traded at PLN 5.40 per share at the end of 2015 resulting in a market capitalization of USD 483 mil. Over the previous five years, stock price grew by 3.85% or 0.758% a year on average. The closing price put stock at a 12-month trailing EV/EBITDA of 4.54x and price to earnings (PE) of 853x as of 2015.