By Helgi Library - April 2, 2020
Seznam's total assets reached CZK 2,411 mil at the end of 2017, up 16.6% compared to the previous year. Current as...
By Helgi Library - April 2, 2020
Seznam's total assets reached CZK 2,411 mil at the end of 2017, up 16.6% compared to the previous year. Current as...
Profit Statement | 2015 | 2016 | 2017 | |
Sales | CZK mil | 3,413 | 3,706 | 4,117 |
Gross Profit | CZK mil | 2,397 | 2,625 | 3,052 |
EBITDA | CZK mil | 1,436 | 1,586 | 1,899 |
EBIT | CZK mil | 1,241 | 1,343 | 1,628 |
Financing Cost | CZK mil | -9.92 | -5.31 | 1.09 |
Pre-Tax Profit | CZK mil | 1,251 | 1,348 | 1,627 |
Net Profit | CZK mil | 1,017 | 1,107 | 1,338 |
Dividends | CZK mil | 0 | 467 | ... |
Balance Sheet | 2015 | 2016 | 2017 | |
Total Assets | CZK mil | 3,603 | 2,067 | 2,411 |
Non-Current Assets | CZK mil | 770 | 974 | 875 |
Current Assets | CZK mil | 2,821 | 1,076 | 1,518 |
Working Capital | CZK mil | 405 | 526 | 518 |
Shareholders' Equity | CZK mil | 1,135 | 836 | 1,592 |
Liabilities | CZK mil | 2,468 | 1,231 | 818 |
Total Debt | CZK mil | 442 | 295 | 147 |
Net Debt | CZK mil | -1,829 | -110 | -750 |
Ratios | 2015 | 2016 | 2017 | |
ROE | % | 92.5 | 112 | 110 |
ROCE | % | 96.9 | 82.7 | 92.5 |
Gross Margin | % | 70.2 | 70.8 | 74.1 |
EBITDA Margin | % | 42.1 | 42.8 | 46.1 |
EBIT Margin | % | 36.3 | 36.2 | 39.5 |
Net Margin | % | 29.8 | 29.9 | 32.5 |
Net Debt/EBITDA | -1.27 | -0.070 | -0.395 | |
Net Debt/Equity | % | -161 | -13.2 | -47.1 |
Cost of Financing | % | -4.49 | -1.44 | 0.491 |
Cash Flow | 2015 | 2016 | 2017 | |
Total Cash From Operations | CZK mil | ... | 1,344 | 1,545 |
Total Cash From Investing | CZK mil | ... | -553 | -174 |
Total Cash From Financing | CZK mil | ... | -2,656 | -879 |
Net Change In Cash | CZK mil | ... | -1,865 | 492 |
Cash Conversion Cycle | days | 14.7 | 17.6 | 20.5 |
Cash Earnings | CZK mil | 1,212 | 1,350 | 1,608 |
Free Cash Flow | CZK mil | ... | 791 | 1,371 |
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summary | Unit | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 |
income statement | ||||||||||||||||||
Sales | CZK mil | 2,681 | 2,834 | 2,909 | 3,129 | 3,413 | ||||||||||||
Gross Profit | CZK mil | 1,903 | 1,932 | 2,054 | 2,208 | 2,397 | ||||||||||||
EBIT | CZK mil | 1,035 | 943 | 929 | 1,124 | 1,241 | ||||||||||||
Net Profit | CZK mil | 840 | 776 | 776 | 948 | 1,017 | ||||||||||||
ROE | % | 101 | 89.9 | 86.5 | 96.9 | 92.5 | ||||||||||||
EBIT Margin | % | 38.6 | 33.3 | 31.9 | 35.9 | 36.3 | ||||||||||||
Net Margin | % | 31.3 | 27.4 | 26.7 | 30.3 | 29.8 | ||||||||||||
Employees | ... | ... | ... | ... | ... | 915 | 1,000 | 1,089 | 1,066 | 1,142 | ||||||||
balance sheet | ||||||||||||||||||
Total Assets | CZK mil | 1,625 | 1,711 | 1,642 | 1,689 | 3,603 | ||||||||||||
Non-Current Assets | CZK mil | 369 | 367 | 487 | 558 | 770 | ||||||||||||
Current Assets | CZK mil | 1,227 | 1,316 | 1,123 | 1,115 | 2,821 | ||||||||||||
Shareholders' Equity | CZK mil | 826 | 900 | 894 | 1,064 | 1,135 | ||||||||||||
Liabilities | CZK mil | 799 | 810 | 748 | 626 | 2,468 | ||||||||||||
Non-Current Liabilities | CZK mil | 0 | 5.89 | 7.37 | 9.81 | 319 | ||||||||||||
Current Liabilities | CZK mil | 412 | 408 | 349 | 373 | 1,943 | ||||||||||||
Net Debt/EBITDA | -0.665 | -0.704 | -0.579 | -0.450 | -1.27 | |||||||||||||
Net Debt/Equity | % | -95.3 | -88.0 | -73.0 | -55.1 | -161 | ||||||||||||
Cost of Financing | % | ... | ... | ... | ... | ... | ... | ... | ... | -132 | -87.1 | ... | -4.49 | |||||
cash flow | ||||||||||||||||||
Total Cash From Operations | CZK mil | ... | ... | ... | ... | ... | 1,078 | 876 | ... | ... | ... | |||||||
Total Cash From Investing | CZK mil | ... | ... | ... | ... | ... | -180 | -205 | ... | ... | ... | |||||||
Total Cash From Financing | CZK mil | ... | ... | ... | ... | ... | -728 | -701 | ... | ... | ... | |||||||
Net Change In Cash | CZK mil | ... | ... | ... | ... | ... | 170 | -30.4 | ... | ... | ... |
income statement | Unit | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 |
income statement | ||||||||||||||||||
Sales | CZK mil | 2,681 | 2,834 | 2,909 | 3,129 | 3,413 | ||||||||||||
Cost of Goods & Services | CZK mil | 779 | 902 | 855 | 920 | 1,016 | ||||||||||||
Gross Profit | CZK mil | 1,903 | 1,932 | 2,054 | 2,208 | 2,397 | ||||||||||||
Staff Cost | CZK mil | 705 | 816 | 924 | 906 | 962 | ||||||||||||
Other Cost | CZK mil | 15.1 | -9.31 | 2.47 | -0.461 | -1.18 | ||||||||||||
EBITDA | CZK mil | 1,182 | 1,125 | 1,128 | 1,303 | 1,436 | ||||||||||||
Depreciation | CZK mil | 147 | 182 | 199 | 179 | 195 | ||||||||||||
EBIT | CZK mil | 1,035 | 943 | 929 | 1,124 | 1,241 | ||||||||||||
Financing Cost | CZK mil | 2.53 | -3.89 | -2.56 | -12.4 | -9.92 | ||||||||||||
Extraordinary Cost | CZK mil | 0 | 0 | 0 | 0 | 0 | ||||||||||||
Pre-Tax Profit | CZK mil | 1,032 | 947 | 932 | 1,136 | 1,251 | ||||||||||||
Tax | CZK mil | 193 | 171 | 155 | 188 | 234 | ||||||||||||
Minorities | CZK mil | 0 | 0 | 0 | 0 | 0 | ||||||||||||
Net Profit | CZK mil | 840 | 776 | 776 | 948 | 1,017 | ||||||||||||
Dividends | CZK mil | ... | ... | ... | ... | ... | ... | ... | ... | ... | 690 | ... | ... | ... | 0 | ... | ||
growth rates | ||||||||||||||||||
Total Revenue Growth | % | ... | 19.4 | 5.69 | 2.65 | 7.56 | 9.10 | |||||||||||
Operating Cost Growth | % | ... | 23.0 | 12.0 | 14.9 | -2.29 | 6.15 | |||||||||||
EBITDA Growth | % | ... | 13.3 | -4.82 | 0.206 | 15.5 | 10.2 | |||||||||||
EBIT Growth | % | ... | 14.1 | -8.87 | -1.47 | 21.0 | 10.4 | |||||||||||
Pre-Tax Profit Growth | % | ... | 12.4 | -8.27 | -1.61 | 22.0 | 10.1 | |||||||||||
Net Profit Growth | % | ... | 13.5 | -7.63 | 0.093 | 22.2 | 7.22 | |||||||||||
ratios | ||||||||||||||||||
ROE | % | 101 | 89.9 | 86.5 | 96.9 | 92.5 | ||||||||||||
ROCE | % | ... | 149 | 117 | 103 | 108 | 96.9 | |||||||||||
Gross Margin | % | 71.0 | 68.2 | 70.6 | 70.6 | 70.2 | ||||||||||||
EBITDA Margin | % | 44.1 | 39.7 | 38.8 | 41.6 | 42.1 | ||||||||||||
EBIT Margin | % | 38.6 | 33.3 | 31.9 | 35.9 | 36.3 | ||||||||||||
Net Margin | % | 31.3 | 27.4 | 26.7 | 30.3 | 29.8 | ||||||||||||
Payout Ratio | % | ... | ... | ... | ... | ... | ... | ... | ... | ... | 82.2 | ... | ... | ... | 0 | ... | ||
Cost of Financing | % | ... | ... | ... | ... | ... | ... | ... | ... | -132 | -87.1 | ... | -4.49 | |||||
Net Debt/EBITDA | -0.665 | -0.704 | -0.579 | -0.450 | -1.27 |
balance sheet | Unit | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 |
balance sheet | ||||||||||||||||||
Non-Current Assets | CZK mil | 369 | 367 | 487 | 558 | 770 | ||||||||||||
Property, Plant & Equipment | CZK mil | 282 | 300 | 316 | 338 | 405 | ||||||||||||
Intangible Assets | CZK mil | 57.4 | 66.7 | 84.4 | 102 | 161 | ||||||||||||
Goodwill | CZK mil | -1.26 | -0.837 | 0.419 | 0 | 0 | ||||||||||||
Current Assets | CZK mil | 1,227 | 1,316 | 1,123 | 1,115 | 2,821 | ||||||||||||
Inventories | CZK mil | 0 | 0 | 0.012 | 0.003 | 4.45 | ||||||||||||
Receivables | CZK mil | 383 | 451 | 427 | 461 | 519 | ||||||||||||
Cash & Cash Equivalents | CZK mil | 787 | 798 | 652 | 586 | 2,271 | ||||||||||||
Total Assets | CZK mil | 1,625 | 1,711 | 1,642 | 1,689 | 3,603 | ||||||||||||
Shareholders' Equity | CZK mil | 826 | 900 | 894 | 1,064 | 1,135 | ||||||||||||
Of Which Minority Interest | CZK mil | 0 | 0 | 0 | 0 | 0 | ||||||||||||
Liabilities | CZK mil | 799 | 810 | 748 | 626 | 2,468 | ||||||||||||
Non-Current Liabilities | CZK mil | 0 | 5.89 | 7.37 | 9.81 | 319 | ||||||||||||
Long-Term Debt | CZK mil | 0 | 5.89 | 0 | 0 | 295 | ||||||||||||
Deferred Tax Liabilities | CZK mil | 0 | 0 | 7.37 | 9.81 | 24.1 | ||||||||||||
Current Liabilities | CZK mil | 412 | 408 | 349 | 373 | 1,943 | ||||||||||||
Short-Term Debt | CZK mil | 0 | 0 | 0 | 0 | 147 | ||||||||||||
Trade Payables | CZK mil | 110 | 139 | 85.0 | 96.1 | 118 | ||||||||||||
Provisions | CZK mil | 27.4 | 20.1 | 25.5 | 16.0 | 17.4 | ||||||||||||
Equity And Liabilities | CZK mil | 1,625 | 1,711 | 1,642 | 1,689 | 3,603 | ||||||||||||
growth rates | ||||||||||||||||||
Total Asset Growth | % | ... | 4.55 | 5.24 | -4.03 | 2.89 | 113 | |||||||||||
Shareholders' Equity Growth | % | ... | -0.973 | 9.00 | -0.697 | 19.0 | 6.71 | |||||||||||
Net Debt Growth | % | ... | -8.17 | 0.657 | -17.6 | -10.2 | 212 | |||||||||||
Total Debt Growth | % | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | -100 | ... | ... | ||||
ratios | ||||||||||||||||||
Total Debt | CZK mil | 0 | 5.89 | 0 | 0 | 442 | ||||||||||||
Net Debt | CZK mil | -787 | -792 | -652 | -586 | -1,829 | ||||||||||||
Working Capital | CZK mil | 273 | 312 | 342 | 365 | 405 | ||||||||||||
Capital Employed | CZK mil | 642 | 679 | 829 | 923 | 1,176 | ||||||||||||
Net Debt/Equity | % | -95.3 | -88.0 | -73.0 | -55.1 | -161 | ||||||||||||
Cost of Financing | % | ... | ... | ... | ... | ... | ... | ... | ... | -132 | -87.1 | ... | -4.49 |
cash flow | Unit | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 |
cash flow | ||||||||||||||||||
Net Profit | CZK mil | 840 | 776 | 776 | 948 | 1,017 | ||||||||||||
Depreciation | CZK mil | 147 | 182 | 199 | 179 | 195 | ||||||||||||
Non-Cash Items | CZK mil | ... | ... | ... | ... | ... | ... | 231 | -42.5 | ... | ... | ... | ||||||
Change in Working Capital | CZK mil | ... | ... | ... | ... | ... | ... | -140 | -39.5 | ... | ... | ... | ||||||
Total Cash From Operations | CZK mil | ... | ... | ... | ... | ... | 1,078 | 876 | ... | ... | ... | |||||||
Capital Expenditures | CZK mil | ... | ... | ... | ... | ... | -154 | -210 | ... | ... | ... | |||||||
Other Investments | CZK mil | ... | ... | ... | ... | ... | -26.1 | 4.68 | ... | ... | ... | |||||||
Total Cash From Investing | CZK mil | ... | ... | ... | ... | ... | -180 | -205 | ... | ... | ... | |||||||
Dividends Paid | CZK mil | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | -690 | ... | ... | ... | ... | ||
Issuance Of Shares | CZK mil | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ||
Issuance Of Debt | CZK mil | ... | ... | ... | ... | ... | ... | 0 | 5.89 | ... | ... | ... | ||||||
Total Cash From Financing | CZK mil | ... | ... | ... | ... | ... | -728 | -701 | ... | ... | ... | |||||||
Net Change In Cash | CZK mil | ... | ... | ... | ... | ... | 170 | -30.4 | ... | ... | ... | |||||||
ratios | ||||||||||||||||||
Days Sales Outstanding | days | 52.2 | 58.1 | 53.6 | 53.8 | 55.5 | ||||||||||||
Days Sales Of Inventory | days | 0 | 0 | 0.005 | 0.001 | 1.60 | ||||||||||||
Days Payable Outstanding | days | 51.8 | 56.2 | 36.3 | 38.1 | 42.3 | ||||||||||||
Cash Conversion Cycle | days | 0.380 | 1.87 | 17.3 | 15.7 | 14.7 | ||||||||||||
Cash Earnings | CZK mil | 987 | 958 | 975 | 1,128 | 1,212 | ||||||||||||
Free Cash Flow | CZK mil | ... | ... | ... | ... | ... | 897 | 671 | ... | ... | ... |
other data | Unit | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 |
other data | ||||||||||||||||||
ROA | % | 52.8 | 46.5 | 46.3 | 56.9 | 38.4 | ||||||||||||
Gross Margin | % | 71.0 | 68.2 | 70.6 | 70.6 | 70.2 | ||||||||||||
Employees | ... | ... | ... | ... | ... | 915 | 1,000 | 1,089 | 1,066 | 1,142 | ||||||||
Cost Per Employee | USD per month | ... | ... | ... | ... | ... | 3,631 | 3,476 | 3,615 | 3,314 | 2,942 | |||||||
Cost Per Employee (Local Currency) | CZK per month | ... | ... | ... | ... | ... | 64,225 | 67,989 | 70,729 | 70,828 | 70,234 | |||||||
Staff Cost (As % Of Total Cost) | % | 42.8 | 43.1 | 46.7 | 45.2 | 44.3 | ||||||||||||
Effective Tax Rate | % | 18.7 | 18.1 | 16.7 | 16.5 | 18.7 | ||||||||||||
Domestic Sales | CZK mil | ... | ... | ... | ... | ... | 2,624 | 2,780 | 2,810 | 2,924 | 3,191 | |||||||
Capital Expenditures (As % of Sales) | % | ... | ... | ... | ... | ... | 5.76 | 7.40 | ... | ... | ... | |||||||
Revenues From Abroad | CZK mil | ... | ... | ... | ... | ... | 57.0 | 54.0 | 98.7 | 203 | 222 | |||||||
Revenues From Abroad (As % Of Total) | % | ... | ... | ... | ... | ... | 2.13 | 1.91 | 3.39 | 6.48 | 6.52 |
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Seznam.cz (meaning list in English) is a web portal and search engine in the Czech Republic. The Company was founded in 1996 by Ivo Lukačovič as the first web portal in the Czech Republic. Seznam started with a search engine and an internet version of yellow pages. Today, Seznam runs more than 15 different web services and associated brands. More than 2.5 million people visit the Seznam.cz pages every day. Among the most popular services, according to NetMonitor, are Seznam homepage, Seznam Email, Seznam Search and Seznam yellow pages. In 2012, Seznam was the second internet search engine in the Czech Republic (with a 40% market share) just behind Google (with more than a half of the market) and employed around 1,000 people.
Seznam has been growing its sales by a year on average in the last 5 years. EBITDA has grown on average by 11% a year during that time to total of CZK 1,899 mil in 2017, or 46.1% of sales. That’s compared to 42.3% average margin seen in last five years.
The company netted CZK 1,338 mil in 2017 implying ROE of 110% and ROCE of 92.5%. Again, the average figures were 99.7% and 96.7%, respectively when looking at the previous 5 years.
Seznam’s net debt amounted to CZK -750 mil at the end of 2017, or -47.1% of equity. When compared to EBITDA, net debt was -0.395x, up when compared to average of -0.553x seen in the last 5 years.