| Profit Statement | 2014 | 2015 | 2016 | |
| Sales | CZK mil | 7,922 | 8,424 | 8,940 |
| Gross Profit | CZK mil | 3,317 | 3,494 | 3,460 |
| EBITDA | CZK mil | -229 | 1,615 | 2,425 |
| EBIT | CZK mil | -1,230 | -1,795 | -768 |
| Financing Cost | CZK mil | 1,483 | 1,303 | 963 |
| Pre-Tax Profit | CZK mil | -2,655 | -3,098 | -1,731 |
| Net Profit | CZK mil | -2,322 | -2,740 | -1,291 |
| Dividends | CZK mil | 0 | 0 | 0 |
| Balance Sheet | 2014 | 2015 | 2016 | |
| Total Assets | CZK mil | 35,181 | 32,331 | 30,404 |
| Non-Current Assets | CZK mil | 32,597 | 29,753 | 27,439 |
| Current Assets | CZK mil | 2,003 | 2,070 | 2,469 |
| Working Capital | CZK mil | 494 | 341 | 603 |
| Shareholders' Equity | CZK mil | 10,187 | 14,272 | 13,076 |
| Liabilities | CZK mil | 24,994 | 18,059 | 17,328 |
| Total Debt | CZK mil | 17,204 | 11,544 | 11,552 |
| Net Debt | CZK mil | 16,886 | 11,048 | 10,949 |
| Ratios | 2014 | 2015 | 2016 | |
| ROE | % | -20.5 | -22.4 | -9.44 |
| ROCE | % | -6.71 | -8.67 | -4.44 |
| Gross Margin | % | 41.9 | 41.5 | 38.7 |
| EBITDA Margin | % | -2.89 | 19.2 | 27.1 |
| EBIT Margin | % | -15.5 | -21.3 | -8.59 |
| Net Margin | % | -29.3 | -32.5 | -14.4 |
| Net Debt/EBITDA | -73.7 | 6.84 | 4.52 | |
| Net Debt/Equity | % | 166 | 77.4 | 83.7 |
| Cost of Financing | % | 8.48 | 9.06 | 8.34 |
| Cash Flow | 2014 | 2015 | 2016 | |
| Total Cash From Operations | CZK mil | 985 | 433 | 883 |
| Total Cash From Investing | CZK mil | -787 | -887 | -796 |
| Total Cash From Financing | CZK mil | -1,336 | 1,372 | 0 |
| Net Change In Cash | CZK mil | -1,139 | 918 | 87.0 |
| Cash Conversion Cycle | days | -8.37 | -15.1 | -0.643 |
| Cash Earnings | CZK mil | -1,321 | 670 | 1,902 |
| Free Cash Flow | CZK mil | 197 | -454 | 87.0 |
Get all company financials in excel:
| summary | Unit | 2013 | 2014 | 2015 | 2016 |
| income statement | |||||
| Sales | CZK mil | 9,773 | 7,922 | ||
| Gross Profit | CZK mil | 4,422 | 3,317 | ||
| EBIT | CZK mil | 811 | -1,230 | ||
| Net Profit | CZK mil | 1,143 | -2,322 | ||
| ROE | % | 9.18 | -20.5 | ||
| EBIT Margin | % | 8.30 | -15.5 | ||
| Net Margin | % | 11.7 | -29.3 | ||
| Employees | 1,346 | 1,359 | |||
| balance sheet | |||||
| Total Assets | CZK mil | 38,173 | 35,181 | ||
| Non-Current Assets | CZK mil | 35,065 | 32,597 | ||
| Current Assets | CZK mil | 2,627 | 2,003 | ||
| Shareholders' Equity | CZK mil | 12,446 | 10,187 | ||
| Liabilities | CZK mil | 25,727 | 24,994 | ||
| Non-Current Liabilities | CZK mil | 21,656 | 21,146 | ||
| Current Liabilities | CZK mil | 3,926 | 2,919 | ||
| Net Debt/EBITDA | 8.33 | -73.7 | |||
| Net Debt/Equity | % | 137 | 166 | ||
| Cost of Financing | % | ... | 8.48 | ||
| cash flow | |||||
| Total Cash From Operations | CZK mil | 351 | 985 | ||
| Total Cash From Investing | CZK mil | -14.5 | -787 | ||
| Total Cash From Financing | CZK mil | 65.5 | -1,336 | ||
| Net Change In Cash | CZK mil | 401 | -1,139 |
| income statement | Unit | 2013 | 2014 | 2015 | 2016 |
| income statement | |||||
| Sales | CZK mil | 9,773 | 7,922 | ||
| Cost of Goods & Services | CZK mil | 5,350 | 4,605 | ||
| Gross Profit | CZK mil | 4,422 | 3,317 | ||
| Staff Cost | CZK mil | 1,219 | 1,063 | ||
| Other Cost | CZK mil | 1,154 | 2,483 | ||
| EBITDA | CZK mil | 2,050 | -229 | ||
| Depreciation | CZK mil | 1,238 | 1,001 | ||
| EBIT | CZK mil | 811 | -1,230 | ||
| Financing Cost | CZK mil | 2,096 | 1,483 | ||
| Extraordinary Cost | CZK mil | -52.8 | -58.5 | ||
| Pre-Tax Profit | CZK mil | -1,232 | -2,655 | ||
| Tax | CZK mil | -89.6 | -333 | ||
| Minorities | CZK mil | 0 | 0 | ||
| Net Profit | CZK mil | 1,143 | -2,322 | ||
| Dividends | CZK mil | 0 | 0 | ||
| growth rates | |||||
| Total Revenue Growth | % | ... | -18.9 | ||
| Operating Cost Growth | % | ... | 49.5 | ||
| EBITDA Growth | % | ... | -111 | ||
| EBIT Growth | % | ... | -252 | ||
| Pre-Tax Profit Growth | % | ... | 115 | ||
| Net Profit Growth | % | ... | -303 | ||
| ratios | |||||
| ROE | % | 9.18 | -20.5 | ||
| ROCE | % | ... | -6.71 | ||
| Gross Margin | % | 45.3 | 41.9 | ||
| EBITDA Margin | % | 21.0 | -2.89 | ||
| EBIT Margin | % | 8.30 | -15.5 | ||
| Net Margin | % | 11.7 | -29.3 | ||
| Payout Ratio | % | 0 | 0 | ||
| Cost of Financing | % | ... | 8.48 | ||
| Net Debt/EBITDA | 8.33 | -73.7 |
| balance sheet | Unit | 2013 | 2014 | 2015 | 2016 |
| balance sheet | |||||
| Non-Current Assets | CZK mil | 35,065 | 32,597 | ||
| Property, Plant & Equipment | CZK mil | 5,157 | 5,379 | ||
| Intangible Assets | CZK mil | 28,137 | 25,541 | ||
| Goodwill | CZK mil | 16,209 | 14,962 | ||
| Current Assets | CZK mil | 2,627 | 2,003 | ||
| Inventories | CZK mil | 275 | 253 | ||
| Receivables | CZK mil | 1,672 | 1,431 | ||
| Cash & Cash Equivalents | CZK mil | 680 | 319 | ||
| Total Assets | CZK mil | 38,173 | 35,181 | ||
| Shareholders' Equity | CZK mil | 12,446 | 10,187 | ||
| Of Which Minority Interest | CZK mil | 0 | 0 | ||
| Liabilities | CZK mil | 25,727 | 24,994 | ||
| Non-Current Liabilities | CZK mil | 21,656 | 21,146 | ||
| Long-Term Debt | CZK mil | 16,427 | 16,427 | ||
| Deferred Tax Liabilities | CZK mil | 5,229 | 4,719 | ||
| Current Liabilities | CZK mil | 3,926 | 2,919 | ||
| Short-Term Debt | CZK mil | 1,332 | 777 | ||
| Trade Payables | CZK mil | 916 | 1,190 | ||
| Provisions | CZK mil | 66.1 | 74.2 | ||
| Equity And Liabilities | CZK mil | 38,173 | 35,181 | ||
| growth rates | |||||
| Total Asset Growth | % | ... | -7.84 | ||
| Shareholders' Equity Growth | % | ... | -18.2 | ||
| Net Debt Growth | % | ... | -1.13 | ||
| Total Debt Growth | % | ... | -3.12 | ||
| ratios | |||||
| Total Debt | CZK mil | 17,759 | 17,204 | ||
| Net Debt | CZK mil | 17,078 | 16,886 | ||
| Working Capital | CZK mil | 1,031 | 494 | ||
| Capital Employed | CZK mil | 36,096 | 33,091 | ||
| Net Debt/Equity | % | 137 | 166 | ||
| Cost of Financing | % | ... | 8.48 |
| cash flow | Unit | 2013 | 2014 | 2015 | 2016 |
| cash flow | |||||
| Net Profit | CZK mil | 1,143 | -2,322 | ||
| Depreciation | CZK mil | 1,238 | 1,001 | ||
| Non-Cash Items | CZK mil | ... | 1,768 | ||
| Change in Working Capital | CZK mil | ... | 537 | ||
| Total Cash From Operations | CZK mil | 351 | 985 | ||
| Capital Expenditures | CZK mil | -1,231 | -796 | ||
| Other Investments | CZK mil | 1,217 | 8.81 | ||
| Total Cash From Investing | CZK mil | -14.5 | -787 | ||
| Dividends Paid | CZK mil | ... | 0 | ||
| Issuance Of Shares | CZK mil | 0 | 0 | ||
| Issuance Of Debt | CZK mil | ... | -554 | ||
| Total Cash From Financing | CZK mil | 65.5 | -1,336 | ||
| Net Change In Cash | CZK mil | 401 | -1,139 | ||
| ratios | |||||
| Days Sales Outstanding | days | 62.4 | 65.9 | ||
| Days Sales Of Inventory | days | 18.7 | 20.0 | ||
| Days Payable Outstanding | days | 62.5 | 94.3 | ||
| Cash Conversion Cycle | days | 18.7 | -8.37 | ||
| Cash Earnings | CZK mil | 2,381 | -1,321 | ||
| Free Cash Flow | CZK mil | 336 | 197 |
| other data | Unit | 2013 | 2014 | 2015 | 2016 |
| other data | |||||
| ROA | % | 2.99 | -6.33 | ||
| Gross Margin | % | 45.3 | 41.9 | ||
| Employees | 1,346 | 1,359 | |||
| Cost Per Employee | USD per month | 2,892 | 3,051 | ||
| Cost Per Employee (Local Currency) | CZK per month | 56,588 | 65,210 | ||
| Staff Cost (As % Of Total Cost) | % | 13.6 | 11.6 | ||
| Effective Tax Rate | % | 7.27 | 12.5 | ||
| Sales from Beer | CZK mil | 9,211 | 7,476 | ||
| Sales from Beer Waste | CZK mil | 58.9 | 41.3 | ||
| Sales from Other Products | CZK mil | 405 | 311 | ||
| Sales from Goods | CZK mil | 310 | 285 | ||
| Capital Expenditures (As % of Sales) | % | 12.6 | 10.1 | ||
| Revenues From Abroad | CZK mil | 5,181 | 4,765 | ||
| Revenues From Abroad (As % Of Total) | % | 53.0 | 60.1 |
Get all company financials in excel:
Pivovary Staropramen has been growing its sales by a year on average in the last 5 years. EBITDA has grown by 0% during that time to total of CZK 2,425 mil in 2016, or 27.1% of sales. That’s compared to 16.1% average margin seen in last five years.
The company netted CZK -1,291 mil in 2016 implying ROE of -9.44% and ROCE of -4.44%. Again, the average figures were -10.8% and -6.61%, respectively when looking at the previous 5 years.
Pivovary Staropramen’s net debt amounted to CZK 10,949 mil at the end of 2016, or 83.7% of equity. When compared to EBITDA, net debt was 4.52x, up when compared to average of -13.5x seen in the last 5 years.
Helgi Library 
