This report analyses the financial performance of BENET Automotive for the 2018. You will find all the necessary details regarding company's profitability, volume growth, indebtedness and a comparison with selected peers.
BENET Automotive announced a net loss of CZK 1.18 mil in 2018, down 112% when compared to the last year. Sales decreased 6.49% yoy to CZK 956 mil, EBITDA rose 1.85% to CZK 34.7 mil and net margin amounted to -0.124%. In the last three years, the Company grew its revenues by 16.0% a year, and produced an average return on capital of 3.68% and return on equity of 14.6%.
The key highlights are:
Sales decreased 6.49% yoy to CZK 956 mil in 2018. That’s compared to average growth of 16.0% in the last three years and 51.5% more when compared to the average annual increase in the last decade.
EBITDA amounted to CZK 34.7 mil and grew 1.85% when compared to last year. EBITDA margin reached 3.63%, up 5.58%pp when compared to a 5-year average.
Company’s indebtedness fell when measured by Net Debt/Equity and reached 59.0% at the end of 2018. When compared to EBITDA, net debt fell to 3.05x at the end of 2018.
BENET Automotive netted CZK -1.18 mil to its shareholders in the last year, down 104% when compared to the average seen in the last five years. The company produced a return on capital of -0.213% and return on equity of -0.652% in the last year. Since 2013, BENET Automotive’s average ROCE amounted to 4.78% and ROE 27.9%.
When compared to selected peers, BENET Automotive has grown 8.81 pp faster in sales in the last five years. It was also 1.93 pp less profitable in terms of ROCE, and achieved 4.26 pp higher EBITDA margin based on a last year's results.
In terms of indebtedness, the company operated with 55.4 pp higher net debt to equity at the end of 2018 when compared to its peers (59.0% at BENET Automotive vs. 3.64% of its peers).
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