By Helgi Library - April 2, 2020
Petrof's total assets reached CZK 401 mil at the end of 2015, up 1.37% compared to the previous year. Current asse...
By Helgi Library - April 2, 2020
Petrof's total assets reached CZK 401 mil at the end of 2015, up 1.37% compared to the previous year. Current asse...
| Profit Statement | 2013 | 2014 | 2015 | |
| Sales | CZK mil | 231 | 224 | 229 |
| Gross Profit | CZK mil | 116 | 117 | 118 |
| EBITDA | CZK mil | 13.7 | 14.1 | 19.0 |
| EBIT | CZK mil | 6.49 | 7.00 | 11.6 |
| Financing Cost | CZK mil | -1.82 | -2.44 | 1.96 |
| Pre-Tax Profit | CZK mil | 8.35 | 9.52 | 9.63 |
| Net Profit | CZK mil | 8.06 | 7.23 | 6.73 |
| Balance Sheet | 2013 | 2014 | 2015 | |
| Total Assets | CZK mil | 392 | 395 | 401 |
| Non-Current Assets | CZK mil | 138 | 142 | 142 |
| Current Assets | CZK mil | 251 | 251 | 256 |
| Working Capital | CZK mil | 228 | 222 | 233 |
| Shareholders' Equity | CZK mil | 315 | 321 | 328 |
| Liabilities | CZK mil | 77.2 | 74.4 | 72.5 |
| Total Debt | CZK mil | 51.7 | 44.7 | 41.9 |
| Net Debt | CZK mil | 45.2 | 33.7 | 40.9 |
| Ratios | 2013 | 2014 | 2015 | |
| ROE | % | 2.59 | 2.27 | 2.07 |
| ROCE | % | 2.22 | 1.98 | 1.82 |
| Gross Margin | % | 50.1 | 52.3 | 51.2 |
| EBITDA Margin | % | 5.93 | 6.29 | 8.28 |
| EBIT Margin | % | 2.81 | 3.12 | 5.05 |
| Net Margin | % | 3.49 | 3.22 | 2.93 |
| Net Debt/EBITDA | 3.31 | 2.39 | 2.16 | |
| Net Debt/Equity | 0.144 | 0.105 | 0.125 | |
| Cost of Financing | % | -3.57 | -5.06 | 4.52 |
| Cash Flow | 2013 | 2014 | 2015 | |
| Total Cash From Operations | CZK mil | 10.8 | 22.8 | -1.75 |
| Total Cash From Investing | CZK mil | -11.3 | -3.25 | -5.48 |
| Total Cash From Financing | CZK mil | -5.46 | -7.04 | -2.78 |
| Net Change In Cash | CZK mil | -5.97 | 12.5 | -10.0 |
| Cash Conversion Cycle | days | 656 | 674 | 660 |
| Cash Earnings | CZK mil | 15.2 | 14.3 | 14.1 |
| Free Cash Flow | CZK mil | -0.512 | 19.6 | -7.23 |
Get all company financials in excel:
| summary | Unit | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 |
| income statement | ||||||||||||||||
| Sales | CZK mil | 112 | 178 | 207 | 226 | 231 | ||||||||||
| Gross Profit | CZK mil | 43.7 | 86.7 | 108 | 115 | 116 | ||||||||||
| EBIT | CZK mil | -124 | 6.78 | 20.5 | 10.9 | 6.49 | ||||||||||
| Net Profit | CZK mil | -137 | -2.31 | 27.6 | 8.99 | 8.06 | ||||||||||
| ROE | % | -39.5 | -0.830 | 9.66 | 2.96 | 2.59 | ||||||||||
| EBIT Margin | % | -111 | 3.82 | 9.95 | 4.83 | 2.81 | ||||||||||
| Net Margin | % | -122 | -1.30 | 13.3 | 3.98 | 3.49 | ||||||||||
| Employees | 186 | 243 | 195 | 213 | 219 | |||||||||||
| balance sheet | ||||||||||||||||
| Total Assets | CZK mil | 423 | 399 | 404 | 397 | 392 | ||||||||||
| Non-Current Assets | CZK mil | 164 | 147 | 135 | 142 | 138 | ||||||||||
| Current Assets | CZK mil | 257 | 249 | 266 | 253 | 251 | ||||||||||
| Shareholders' Equity | CZK mil | 284 | 272 | 299 | 308 | 315 | ||||||||||
| Liabilities | CZK mil | 140 | 127 | 105 | 89.0 | 77.2 | ||||||||||
| Non-Current Liabilities | CZK mil | 6.49 | 0 | 0 | 0 | 6.14 | ||||||||||
| Current Liabilities | CZK mil | 61.4 | 47.5 | 41.6 | 33.2 | 23.8 | ||||||||||
| Net Debt/EBITDA | -0.651 | 4.21 | 1.77 | 2.48 | 3.31 | |||||||||||
| Net Debt/Equity | 0.259 | 0.251 | 0.170 | 0.148 | 0.144 | |||||||||||
| Cost of Financing | % | ... | 16.5 | 12.3 | 10.2 | 3.81 | -3.57 | |||||||||
| cash flow | ||||||||||||||||
| Total Cash From Operations | CZK mil | -1.51 | 5.08 | 19.0 | 9.29 | 10.8 | ||||||||||
| Total Cash From Investing | CZK mil | 0.198 | 6.88 | -13.9 | 8.10 | -11.3 | ||||||||||
| Total Cash From Financing | CZK mil | 5.95 | -12.3 | -2.41 | -23.2 | -5.46 | ||||||||||
| Net Change In Cash | CZK mil | 4.64 | -0.384 | 2.79 | -5.83 | -5.97 |
| income statement | Unit | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 |
| income statement | ||||||||||||||||
| Sales | CZK mil | 112 | 178 | 207 | 226 | 231 | ||||||||||
| Cost of Goods & Services | CZK mil | 68.3 | 90.9 | 98.7 | 111 | 115 | ||||||||||
| Gross Profit | CZK mil | 43.7 | 86.7 | 108 | 115 | 116 | ||||||||||
| Staff Cost | CZK mil | 87.9 | 69.7 | 73.4 | 79.8 | 85.5 | ||||||||||
| Other Cost | CZK mil | 68.6 | 0.742 | 5.72 | 16.5 | 16.4 | ||||||||||
| EBITDA | CZK mil | -113 | 16.2 | 28.8 | 18.4 | 13.7 | ||||||||||
| Depreciation | CZK mil | 11.5 | 9.42 | 8.25 | 7.50 | 7.18 | ||||||||||
| EBIT | CZK mil | -124 | 6.78 | 20.5 | 10.9 | 6.49 | ||||||||||
| Financing Cost | CZK mil | 13.1 | 9.35 | 6.56 | 1.95 | -1.82 | ||||||||||
| Extraordinary Cost | CZK mil | -0.250 | -0.264 | -13.6 | -0.052 | -0.038 | ||||||||||
| Pre-Tax Profit | CZK mil | -137 | -2.31 | 27.6 | 8.99 | 8.35 | ||||||||||
| Tax | CZK mil | 0 | 0 | 0 | 0 | 0.241 | ||||||||||
| Minorities | CZK mil | 0 | 0 | 0 | 0 | 0 | ||||||||||
| Net Profit | CZK mil | -137 | -2.31 | 27.6 | 8.99 | 8.06 | ||||||||||
| growth rates | ||||||||||||||||
| Total Revenue Growth | % | ... | -66.0 | 58.4 | 16.3 | 9.24 | 2.25 | |||||||||
| Operating Cost Growth | % | ... | 32.1 | -55.0 | 12.3 | 21.7 | 5.81 | |||||||||
| EBITDA Growth | % | ... | -610 | -114 | 77.7 | -36.1 | -25.7 | |||||||||
| EBIT Growth | % | ... | -1,574 | -105 | 203 | -47.0 | -40.4 | |||||||||
| Pre-Tax Profit Growth | % | ... | -929 | -98.3 | -1,295 | -67.4 | -7.16 | |||||||||
| Net Profit Growth | % | ... | -929 | -98.3 | -1,295 | -67.4 | -10.4 | |||||||||
| ratios | ||||||||||||||||
| ROE | % | -39.5 | -0.830 | 9.66 | 2.96 | 2.59 | ||||||||||
| ROCE | % | ... | -30.1 | -0.600 | 7.36 | 2.44 | 2.22 | |||||||||
| Gross Margin | % | 39.0 | 48.8 | 52.2 | 50.8 | 50.1 | ||||||||||
| EBITDA Margin | % | -101 | 9.12 | 13.9 | 8.15 | 5.93 | ||||||||||
| EBIT Margin | % | -111 | 3.82 | 9.95 | 4.83 | 2.81 | ||||||||||
| Net Margin | % | -122 | -1.30 | 13.3 | 3.98 | 3.49 | ||||||||||
| Cost of Financing | % | ... | 16.5 | 12.3 | 10.2 | 3.81 | -3.57 | |||||||||
| Net Debt/EBITDA | -0.651 | 4.21 | 1.77 | 2.48 | 3.31 |
| balance sheet | Unit | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 |
| balance sheet | ||||||||||||||||
| Non-Current Assets | CZK mil | 164 | 147 | 135 | 142 | 138 | ||||||||||
| Property, Plant & Equipment | CZK mil | 152 | 143 | 132 | 138 | 134 | ||||||||||
| Intangible Assets | CZK mil | 0.395 | 1.44 | 2.47 | 2.21 | 2.19 | ||||||||||
| Current Assets | CZK mil | 257 | 249 | 266 | 253 | 251 | ||||||||||
| Inventories | CZK mil | 149 | 145 | 150 | 163 | 196 | ||||||||||
| Receivables | CZK mil | 101 | 91.0 | 105 | 75.6 | 41.7 | ||||||||||
| Cash & Cash Equivalents | CZK mil | 2.79 | 7.42 | 1.59 | 4.38 | 6.47 | ||||||||||
| Total Assets | CZK mil | 423 | 399 | 404 | 397 | 392 | ||||||||||
| Shareholders' Equity | CZK mil | 284 | 272 | 299 | 308 | 315 | ||||||||||
| Of Which Minority Interest | CZK mil | 0 | 0 | 0 | 0 | 0 | ||||||||||
| Liabilities | CZK mil | 140 | 127 | 105 | 89.0 | 77.2 | ||||||||||
| Non-Current Liabilities | CZK mil | 6.49 | 0 | 0 | 0 | 6.14 | ||||||||||
| Long-Term Debt | CZK mil | 6.49 | 0 | 0 | 25.4 | 26.1 | ||||||||||
| Deferred Tax Liabilities | CZK mil | 0 | 0 | 0 | 0 | 0 | ||||||||||
| Current Liabilities | CZK mil | 61.4 | 47.5 | 41.6 | 33.2 | 23.8 | ||||||||||
| Short-Term Debt | CZK mil | 69.7 | 75.7 | 52.4 | 24.6 | 25.6 | ||||||||||
| Trade Payables | CZK mil | 17.6 | 9.23 | 15.2 | 19.7 | 10.00 | ||||||||||
| Provisions | CZK mil | 2.01 | 3.43 | 9.30 | 4.00 | 0 | ||||||||||
| Equity And Liabilities | CZK mil | 423 | 399 | 404 | 397 | 392 | ||||||||||
| growth rates | ||||||||||||||||
| Total Asset Growth | % | ... | -25.9 | -5.82 | 1.28 | -1.82 | -1.16 | |||||||||
| Shareholders' Equity Growth | % | ... | -31.0 | -4.09 | 9.92 | 2.93 | 2.31 | |||||||||
| Net Debt Growth | % | ... | -6.94 | -7.04 | -25.5 | -10.2 | -0.892 | |||||||||
| Total Debt Growth | % | ... | -7.14 | -0.702 | -30.7 | -4.59 | 3.37 | |||||||||
| ratios | ||||||||||||||||
| Total Debt | CZK mil | 76.2 | 75.7 | 52.4 | 50.0 | 51.7 | ||||||||||
| Net Debt | CZK mil | 73.4 | 68.2 | 50.8 | 45.6 | 45.2 | ||||||||||
| Working Capital | CZK mil | 232 | 227 | 241 | 219 | 228 | ||||||||||
| Capital Employed | CZK mil | 396 | 374 | 376 | 361 | 365 | ||||||||||
| Net Debt/Equity | 0.259 | 0.251 | 0.170 | 0.148 | 0.144 | |||||||||||
| Cost of Financing | % | ... | 16.5 | 12.3 | 10.2 | 3.81 | -3.57 |
| cash flow | Unit | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 |
| cash flow | ||||||||||||||||
| Net Profit | CZK mil | -137 | -2.31 | 27.6 | 8.99 | 8.06 | ||||||||||
| Depreciation | CZK mil | 11.5 | 9.42 | 8.25 | 7.50 | 7.18 | ||||||||||
| Non-Cash Items | CZK mil | ... | 15.9 | -6.94 | -3.10 | -28.7 | 4.32 | |||||||||
| Change in Working Capital | CZK mil | ... | 108 | 4.91 | -13.7 | 21.5 | -8.76 | |||||||||
| Total Cash From Operations | CZK mil | -1.51 | 5.08 | 19.0 | 9.29 | 10.8 | ||||||||||
| Capital Expenditures | CZK mil | -1.56 | 0.130 | -14.2 | -2.52 | -3.00 | ||||||||||
| Other Investments | CZK mil | 1.76 | 6.75 | 0.359 | 10.6 | -8.31 | ||||||||||
| Total Cash From Investing | CZK mil | 0.198 | 6.88 | -13.9 | 8.10 | -11.3 | ||||||||||
| Issuance Of Debt | CZK mil | ... | -5.86 | -0.535 | -23.2 | -2.41 | 1.68 | |||||||||
| Total Cash From Financing | CZK mil | 5.95 | -12.3 | -2.41 | -23.2 | -5.46 | ||||||||||
| Net Change In Cash | CZK mil | 4.64 | -0.384 | 2.79 | -5.83 | -5.97 | ||||||||||
| ratios | ||||||||||||||||
| Days Sales Outstanding | days | 328 | 187 | 186 | 122 | 66.0 | ||||||||||
| Days Sales Of Inventory | days | 794 | 583 | 556 | 536 | 621 | ||||||||||
| Days Payable Outstanding | days | 94.1 | 37.0 | 56.4 | 64.8 | 31.7 | ||||||||||
| Cash Conversion Cycle | days | 1,028 | 733 | 686 | 594 | 656 | ||||||||||
| Cash Earnings | CZK mil | -126 | 7.12 | 35.8 | 16.5 | 15.2 | ||||||||||
| Free Cash Flow | CZK mil | -1.32 | 12.0 | 5.20 | 17.4 | -0.512 |
| other data | Unit | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 |
| other data | ||||||||||||||||
| ROA | % | -27.5 | -0.561 | 6.87 | 2.25 | 2.04 | ||||||||||
| Gross Margin | % | 39.0 | 48.8 | 52.2 | 50.8 | 50.1 | ||||||||||
| Employees | 186 | 243 | 195 | 213 | 219 | |||||||||||
| Cost Per Employee | USD per month | 2,065 | 1,251 | 1,773 | 1,596 | 1,663 | ||||||||||
| Cost Per Employee (Local Currency) | CZK per month | 39,362 | 23,906 | 31,358 | 31,227 | 32,531 | ||||||||||
| Staff Cost (As % Of Total Cost) | % | 37.2 | 40.8 | 39.4 | 37.2 | 38.1 | ||||||||||
| Effective Tax Rate | % | 0 | 0 | 0 | 0 | 2.89 | ||||||||||
| Domestic Sales | CZK mil | 5.09 | 25.6 | 22.6 | 33.6 | 43.6 | ||||||||||
| Capital Expenditures (As % of Sales) | % | 1.39 | -0.073 | 6.88 | 1.12 | 1.30 | ||||||||||
| Revenues From Abroad | CZK mil | 107 | 152 | 184 | 192 | 187 | ||||||||||
| Revenues From Abroad (As % Of Total) | % | 95.5 | 85.6 | 89.1 | 85.1 | 81.1 | ||||||||||
| Sales Of Keyboard Instruments | CZK mil | 124 | 158 | 175 | 207 | 189 | ||||||||||
| Sales of Goods | CZK mil | 8.00 | 9.00 | 26.0 | 4.00 | 5.48 | ||||||||||
| Sales Of Services | CZK mil | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 12.0 | 10.0 | 15.7 |
Get all company financials in excel:
Petrof is a Czech Republic-based piano manufacturer. The Company was founded in 1864 in Hradec Králové by Antonín Petrof, who had studied piano making in Vienna. The Company makes grand pianos and upright pianos in many sizes and types for professionals as well as beginners. Petrof is a family-owned and run Company led by Mgr. Zuzana Ceralová Petrofová, the representative of the 5th generation. Petrof pianos are produced in a factory in Hradec Králové, Czech Republic. Some 90% production is exported to more than 70 countries in the world
Petrof has been growing its sales by a year on average in the last 5 years. EBITDA has grown on average by 3.23% a year during that time to total of CZK 19.0 mil in 2015, or 8.28% of sales. That’s compared to 8.52% average margin seen in last five years.
The company netted CZK 6.73 mil in 2015 implying ROE of 2.07% and ROCE of 1.82%. Again, the average figures were 3.91% and 3.16%, respectively when looking at the previous 5 years.
Petrof’s net debt amounted to CZK 40.9 mil at the end of 2015, or 0.125 of equity. When compared to EBITDA, net debt was 2.16x, down when compared to average of 2.42x seen in the last 5 years.
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