This report analyses the financial performance of Koito Czech for the 2019. You will find all the necessary details regarding company's profitability, volume growth, indebtedness and a comparison with selected peers.
Koito Czech announced a net profit of CZK 285 mil in 2019, down 21.7% when compared to the last year. Sales decreased 4.75% yoy to CZK 4,971 mil, EBITDA fell 9.60% to CZK 532 mil and net margin amounted to 5.74%. In the last three years, the Company grew its revenues by 5.84% a year, and produced an average return on capital of 20.0% and return on equity of 13.5%.
The key highlights are:
Sales decreased 4.75% yoy to CZK 4,971 mil in 2019. That’s compared to average growth of 5.84% in the last three years and 49.1% more when compared to the average annual increase in the last decade.
EBITDA amounted to CZK 532 mil and fell 9.60% when compared to last year. EBITDA margin reached 10.7%, up 3.69%pp when compared to a 5-year average.
Company’s indebtedness fell when measured by Net Debt/Equity and reached -5.70% at the end of 2019. When compared to EBITDA, net debt fell to -0.360x at the end of 2019.
Koito Czech netted CZK 285 mil to its shareholders in the last year, down 38.3% when compared to the average seen in the last five years. The company produced a return on capital of 11.1% and return on equity of 8.86% in the last year. Since 2014, Koito Czech’s average ROCE amounted to 29.2% and ROE 23.0%.
When compared to selected peers, Koito Czech has grown 6.05 pp faster in sales in the last five years. It was also 37.9 pp more profitable in terms of ROCE, and achieved 10.4 pp higher EBITDA margin based on a last year's results.
In terms of indebtedness, the company operated with 8.02 pp lower net debt to equity at the end of 2019 when compared to its peers (-5.70% at Koito Czech vs. 2.32% of its peers).
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