assigment
Profit and Loss statement, k USD, Global
Company 1 Company 2 Company 3 Company 4 Company 5 Sales revenue 1,582,369 1,753,331 1,734,014 1,483,607 1,803,782
Costs and expenses Variable production costs 364,492 533,011 321,536 529,321 399,395 Feature costs 98,253 90,698 104,216 105,451 183,337 Contract manufacturing costs 96,529 139,884 204,280 29,416 214,696 Transportation and tariffs 70,387 95,629 38,118 62,452 87,463 R&D 56,493 76,365 157,204 111,500 261,493 Promotion 41,600 130,000 42,400 46,100 64,500 Administration 129,636 112,454 119,113 141,716 110,413 Costs and expenses total 857,390 1,178,041 986,868 1,025,956 1,321,297
OPERATING PROFIT BEFORE DEPR. (EBITDA) 724,980 575,291 747,146 457,651 482,484 Depreciation from fixed assets 269,291 152,291 203,291 311,291 155,291
OPERATING PROFIT (EBIT) 455,689 422,999 543,855 146,360 327,193 Net financing expenses 19,509 22,333 1,235 260,630 2,037
PROFIT BEFORE TAXES 436,180 400,667 542,620 -114,270 325,157 Income taxes 144,909 118,715 154,120 81,129 117,600
PROFIT FOR THE ROUND 291,271 281,951 388,500 -195,399 207,557
Balance sheet, k USD, Global
Company 1 Company 2 Company 3 Company 4 Company 5
ASSETS Fixed assets 1,525,984 862,984 1,151,984 1,763,984 879,984 Inventory 310,614 297,174 240,097 1,072,892 136,941 Receivables 60,921 67,503 66,760 57,119 69,446 Cash and cash equivalents 173,059 99,945 531,204 6,000 547,938 Total assets 2,070,579 1,327,606 1,990,045 2,899,995 1,634,309
SHAREHOLDERS' EQUITY AND LIABILITIES Equity Share capital 340,000 340,000 340,000 355,000 340,000 Additional paid-in capital 0 0 0 129,379 0 Profit for the round 291,271 281,951 388,500 -195,399 207,557 Retained earnings 712,335 295,747 726,032 23,138 542,895 Total equity 1,343,606 917,698 1,454,532 312,118 1,090,452
Liabilities Long-term debts 509,789 309,789 509,789 709,789 509,789 Short-term debts (unplanned) 192,942 67,038 0 1,850,113 0 Payables 24,242 33,080 25,724 27,976 34,068 Total liabilities 726,973 409,907 535,513 2,587,877 543,857
Total shareholders' equity and liabilities 2,070,579 1,327,606 1,990,045 2,899,995 1,634,309
Profit and Loss statement, k USD, USA
Company 1 Company 2 Company 3 Company 4 Company 5
Sales revenue from markets 281,132 536,793 366,944 392,665 430,191 from internal transfers 236,771 417,516 147,696 153,725 273,653 Sales revenue total 517,902 954,309 514,640 546,391 703,843
Costs and expenses Variable production costs 298,389 505,194 194,794 295,611 334,012 Feature costs 16,506 35,503 19,731 31,174 44,889 Contract manufacturing costs 14,534 122,456 51,684 29,416 71,604 Transportation and tariffs 0 0 0 0 0 R&D 41,626 70,910 117,903 84,952 224,137 Promotion 12,000 60,000 18,400 6,500 20,000 Administration 87,625 86,454 80,925 99,972 79,967 Costs of imported products 0 0 0 0 0 Costs and expenses total 470,680 880,518 483,436 547,626 774,609
OPERATING PROFIT BEFORE DEPR. (EBITDA) 47,223 73,791 31,204 -1,235 -70,765 Depreciation from fixed assets 149,291 128,291 107,291 191,291 107,291
OPERATING PROFIT (EBIT) -102,069 -54,500 -76,087 -192,527 -178,057 Net financing expenses 28,133 29,107 11,543 218,791 16,842
PROFIT BEFORE TAXES -130,201 -83,607 -87,631 -411,318 -194,899 Income taxes 0 0 0 0 0
PROFIT FOR THE ROUND -130,201 -83,607 -87,631 -411,318 -194,899
Balance sheet, k USD, USA
Company 1 Company 2 Company 3 Company 4 Company 5
ASSETS Fixed assets 845,984 726,984 607,984 1,083,984 607,984 Inventory 310,614 297,174 240,097 1,072,892 136,941 Receivables 10,824 20,667 14,127 15,118 16,562 Cash and cash equivalents 2,000 2,000 443,062 2,000 40,144 Total assets 1,169,421 1,046,824 1,305,271 2,173,994 801,631
SHAREHOLDERS' EQUITY AND LIABILITIES Equity Share capital 300,000 300,000 300,000 315,000 300,000 Additional paid-in capital 0 0 0 129,379 0 Profit for the round -130,201 -83,607 -87,631 -411,318 -194,899 Retained earnings 39,209 -166,493 127,863 -270,568 124,396 Total equity 209,008 49,900 340,233 -237,508 229,498
Liabilities Long-term debts 509,789 309,789 509,789 709,789 509,789 Short-term debts (unplanned) 192,942 16,604 0 1,272,999 0 Internal loans 245,000 645,000 445,000 415,000 45,000 Payables 12,683 25,531 10,249 13,714 17,344 Total liabilities 960,414 996,924 965,038 2,411,501 572,133
Total shareholders' equity and liabilities 1,169,421 1,046,824 1,305,271 2,173,994 801,631
PARENT COMPANY'S CASH FLOW STATEMENT, k USD
Company 1 Company 2 Company 3 Company 4 Company 5
Cash provided by operating activities Operating profit before depreciation (EBITDA) 47,223 73,791 31,204 -1,235 -70,765 Change in receivables (incr - / decr +) 5,561 -9,154 -1,829 -2,903 1,684 Change in inventories (incr - / decr +) -39,016 113,284 -240,097 -434,055 -136,941 Change in payables (incr + / decr -) -7,335 17,327 -11,795 8,912 -2,368 Net financing expenses -28,133 -29,107 -11,543 -218,791 -16,842 Income taxes 0 0 0 0 0 Total -21,700 166,142 -234,061 -648,072 -225,233
Cash provided by investment activities Plant investments (-) / divestments (+) -280,000 -140,000 0 -560,000 0
Cash flow before financing activities -301,700 26,142 -234,061 -1,208,072 -225,233
Cash provided by financing activities Dividends 0 0 0 0 -35,000 Proceeds from equity issues and buybacks 0 0 0 144,379 0 Dividends received from subsidiaries 0 0 0 0 26,980 Change in long-term debt (incr + / decr -) 0 0 0 200,000 0 Change in short-term debt (incr + / decr -) 101,700 -626,142 0 493,693 0 Change in internal loans 200,000 600,000 400,000 370,000 0 Total 301,700 -26,142 400,000 1,208,072 -8,020 Change in cash and cash equivalents 0 0 165,939 0 -233,252
Cash 1.1. 2,000 2,000 277,123 2,000 273,396 Cash 31.12. 2,000 2,000 443,062 2,000 40,144
Profit and Loss statement, k USD, Asia
Company 1 Company 2 Company 3 Company 4 Company 5
Sales revenue from markets 731,138 726,613 788,465 637,445 839,074 from internal transfers 54,980 0 70,312 159,622 87,718
Sales revenue total 786,118 726,613 858,777 797,067 926,792
Costs and expenses Variable production costs 66,103 27,816 126,742 233,710 65,383 Feature costs 53,576 36,551 51,941 44,760 95,951 Contract manufacturing costs 81,995 17,428 152,597 0 143,092 Transportation and tariffs 48,903 80,131 13,222 49,193 65,014 R&D 14,867 5,455 39,301 26,548 37,356 Promotion 19,500 40,000 12,000 36,290 16,500 Administration 32,011 16,000 28,189 31,743 20,447 Costs of imported products 120,935 245,296 31,210 133,397 169,889 Costs and expenses total 437,890 468,677 455,202 555,641 613,632
OPERATING PROFIT BEFORE DEPR. (EBITDA) 348,229 257,937 403,575 241,426 313,161 Depreciation from fixed assets 120,000 24,000 96,000 120,000 48,000
OPERATING PROFIT (EBIT) 228,229 233,937 307,575 121,426 265,161 Net financing expenses -7,687 -7,676 -9,791 37,151 -14,063
PROFIT BEFORE TAXES 235,915 241,613 317,366 84,275 279,223 Income taxes 42,465 43,490 57,126 15,169 50,260
PROFIT FOR THE ROUND 193,450 198,123 260,241 69,105 228,963
Balance sheet, k USD, Asia
Company 1 Company 2 Company 3 Company 4 Company 5
ASSETS Fixed assets 680,000 136,000 544,000 680,000 272,000 Inventory 0 0 0 0 0 Receivables 28,149 27,975 30,356 24,542 32,304 Cash and cash equivalents 70,117 95,945 79,933 2,000 283,804 Total assets 778,266 259,920 654,289 706,542 588,109
SHAREHOLDERS' EQUITY AND LIABILITIES Equity Share capital 20,000 20,000 20,000 20,000 20,000 Profit for the round 193,450 198,123 260,241 69,105 228,963 Retained earnings 380,168 260,563 385,786 142,743 349,922 Total equity 593,619 478,685 666,026 231,848 598,885 Liabilities Short-term debts (unplanned) 0 0 0 507,079 0 Internal loans 175,000 -225,000 -25,000 -45,000 -25,000 Payables 9,647 6,234 13,263 12,615 14,223 Total liabilities 184,647 -218,766 -11,737 474,694 -10,777
Total shareholders' equity and liabilities 778,266 259,920 654,289 706,542 588,109
Profit and Loss statement, k USD, Europe
Company 1 Company 2 Company 3 Company 4 Company 5
Sales revenue Sales revenue 570,100 489,924 578,605 453,497 534,517
Costs and expenses Feature costs 28,171 18,644 32,544 29,516 42,497 Transportation and tariffs 21,485 15,497 24,897 13,259 22,449 Promotion 10,100 30,000 12,000 3,310 28,000 Administration 10,000 10,000 10,000 10,000 10,000 Costs of imported products 170,816 172,220 186,797 179,951 191,482 Costs and expenses total 240,571 246,362 266,238 236,036 294,428
OPERATING PROFIT BEFORE DEPR. (EBITDA) 329,529 243,563 312,367 217,461 240,089 Depreciation from fixed assets 0 0 0 0 0
OPERATING PROFIT (EBIT) 329,529 243,563 312,367 217,461 240,089 Net financing expenses -937 902 -517 4,688 -742
PROFIT BEFORE TAXES 330,465 242,661 312,884 212,773 240,832
Income taxes 102,444 75,225 96,994 65,960 67,339
PROFIT FOR THE ROUND 228,021 167,436 215,890 146,813 173,492
Balance sheet, k USD, Europe
Company 1 Company 2 Company 3 Company 4 Company 5
ASSETS Fixed assets 0 0 0 0 0 Receivables 21,949 18,862 22,276 17,460 20,579 Cash and cash equivalents 100,942 2,000 8,209 2,000 223,990 Total assets 122,891 20,862 30,485 19,460 244,569
SHAREHOLDERS' EQUITY AND LIABILITIES Equity Share capital 20,000 20,000 20,000 20,000 20,000 Profit for the round 228,021 167,436 215,890 146,813 173,492 Retained earnings 292,958 201,677 212,384 150,964 68,576 Total equity 540,979 389,113 448,273 317,777 262,069
Liabilities Short-term debts (unplanned) 0 50,435 0 70,035 0 Internal loans -420,000 -420,000 -420,000 -370,000 -20,000 Payables 1,912 1,314 2,211 1,647 2,500 Total liabilities -418,088 -368,251 -417,789 -298,318 -17,500
Total shareholders' equity and liabilities 122,891 20,862 30,485 19,460 244,569
Ratios and key financial indicators
Ratios Company 1 Company 2 Company 3 Company 4 Company 5
Market capitalization of the company, k USD 7,037,815 7,081,280 8,422,839 1,050,576 7,664,227 Shares outstanding at the end of round, k shares 30,000 30,000 30,000 31,500 30,000 Share price at the end of round, USD 235 236 281 33.35 255 Average trading price during the round, USD 253 152 245 96.25 223 Dividend yield, % 0 0 0 0 0.46 P/E ratio 24.16 25.12 21.68 n/a 36.93 Cumulative total shareholder return (p.a.), % 10.16 10.50 20.51 -58.47 15.22
Key financial indicators, % Company 1 Company 2 Company 3 Company 4 Company 5
Operating profit before depreciation (EBITDA) 45.82 32.81 43.09 30.85 26.75 Operating profit (EBIT) 28.80 24.13 31.36 9.87 18.14 Return on sales (ROS) 18.41 16.08 22.40 -13.17 11.51 Equity ratio 64.89 69.12 73.09 10.76 66.72 Net debt to equity (gearing) 39.42 30.17 -1.47 818 -3.50 Return on capital employed (ROCE) 24.63 29.35 30.73 6.47 21.61 Return on equity (ROE) 24.31 36.30 30.83 -57.87 20.67 Earnings per share (EPS), USD 9.71 9.40 12.95 -6.20 6.92
Market report, global Global market shares, %
Company 1 Company 2 Company 3 Company 4 Company 5 Total 18.17 20.13 20.76 16.90 24.04
Tech 1 19.07 18.56 19.33 16.06 26.98 Tech 2 13.97 27.45 27.44 20.85 10.29 Tech 3 0 0 0 0 0 Tech 4 0 0 0 0 0
Market report, USA
Company 1 Company 2 Company 3 Company 4 Company 5 Tech 1
Selling Price, USD 270 230 265 259 230 Number of offered features 3 3 3 4 4 Sales, k units 890 1,659 976 1,171 1,870 Demand, k units 890 1,659 976 1,171 1,870 Tech 2 Selling Price, USD 500 330 300 349 350 Number of offered features 1 2 1 2 2 Sales, k units 82 471 361 256 0 Demand, k units 82 471 361 256 268 Tech 3 Selling Price, USD Number of offered features Sales, k units Demand, k units Tech 4 Selling Price, USD Number of offered features Sales, k units Demand, k units
USA market shares, % Company 1 Company 2 Company 3 Company 4 Company 5 Total 12.56 27.53 17.28 18.45 24.18 Tech 1 13.55 25.26 14.86 17.83 28.49 Tech 2 6.99 40.23 30.88 21.90 0 Tech 3 0 0 0 0 0 Tech 4 0 0 0 0 0
Market report, Asia
Company 1 Company 2 Company 3 Company 4 Company 5 Tech 1 Selling Price, RMB 1,799 1,700 1,850 1,890 1,700 Number of offered features 3 2 3 3 4 Sales, k units 2,911 2,864 2,690 2,327 3,998 Demand, k units 2,911 2,864 2,690 2,327 3,998
Tech 2 Selling Price, RMB 3,500 2,800 2,400 3,200 3,000 Number of offered features 1 1 1 2 1 Sales, k units 196 363 588 239 0 Demand, k units 196 363 588 239 282
Tech 3 Selling Price, RMB Number of offered features Sales, k units Demand, k units
Tech 4 Selling Price, RMB Number of offered features Sales, k units Demand, k units
Asia market shares, % Company 1 Company 2 Company 3 Company 4 Company 5
Total 19.21 19.95 20.26 15.87 24.72
Tech 1 19.68 19.37 18.18 15.74 27.03 Tech 2 14.13 26.19 42.43 17.25 0 Tech 3 0 0 0 0 0 Tech 4 0 0 0 0 0
Market report, Europe
Company 1 Company 2 Company 3 Company 4 Company 5 Tech 1 Selling Price, EUR 150 210 140 155 130 Number of offered features 3 3 3 4 4 Sales, k units 1,386 525 1,591 870 1,471 Demand, k units 1,386 525 1,591 870 1,471
Tech 2 Selling Price, EUR 350 300 275 250 300 Number of offered features 1 2 1 2 2 Sales, k units 537 767 651 721 600 Demand, k units 537 767 651 721 646 Tech 3 Selling Price, EUR Number of offered features Sales, k units Demand, k units Tech 4 Selling Price, EUR Number of offered features Sales, k units Demand, k units
Europe market shares, % Company 1 Company 2 Company 3 Company 4 Company 5
Total 21.09 14.16 24.59 17.44 22.71
Tech 1 23.73 8.98 27.23 14.89 25.18 Tech 2 16.40 23.41 19.88 22 18.32 Tech 3 0 0 0 0 0 Tech 4 0 0 0 0 0
Production report
In-house manufacturing, k units Company 1 Company 2 Company 3 Company 4 Company 5
USA Tech 1 5,390 1,001 6,204 3,256 6,600 Tech 2 1,430 3,080 Tech 3 Tech 4
Asia Tech 1 1,100 110 2,200 1,375 1,100 Tech 2 50 825 Tech 3 Tech 4
Contract manufacturing, k units USA Tech 1 1,090 Tech 2 1,129 900 1,090 Tech 3 Tech 4 Asia Tech 1 490 Tech 2 100 1,090 600 Tech 3 Tech 4
Capacity usage, % USA Tech 1 70 14 94 37 100 Tech 2 20 35 Tech 3 Tech 4 Free capacity 30 66 6 28 0 Asia Tech 1 40 20 100 50 100 Tech 2 9 30
Tech 3 Tech 4 Free capacity 60 71 0 20 0
Inventory, k units USA Tech 1 2,049 1,440 3,148 5,448 1,941 Tech 2 1,054 1,108 390 4,769 0 Tech 3 0 0 0 0 0 Tech 4 0 0 0 0 0
Asia Tech 1 0 0 0 0 0 Tech 2 0 0 0 0 0 Tech 3 0 0 0 0 0 Tech 4 0 0 0 0 0
Inventory management costs, k USD 3,341 4,755 2,122 9,835 1,165
Origin of products sold in USA, k units USA 972 2,129 1,337 1,427 1,870 Asia
Origin of products sold in Asia, k units USA 1,811 2,968 490 1,822 2,408 Asia 1,296 260 2,788 744 1,590
Origin of products sold in Europe, k units USA 1,525 1,291 1,740 134 1,471 Asia 398 502 1,456 600
Number of plants this round USA 14 13 12 16 12 Asia 5 1 4 5 2
Number of plants next round USA 14 13 12 20 12 Asia 5 6 6 10 4
Number of plants after next round USA 14 13 12 20 12 Asia 5 6 6 10 4
Cost report
Logistics Company 1 Company 2 Company 3 Company 4 Company 5
Average logistics cost per sold product, USD Products sold in USA 0 0 0 0 0 Products sold in Asia 15.74 24.83 4.03 19.17 16.26 Products sold in Europe 11.17 12 11.10 8.34 10.84
Production cost per unit, USD USA Tech 1 65.29 72.08 63.73 67.19 67.69 Tech 2 230 140 Tech 3 Tech 4 Asia Tech 1 60.09 65.61 57.61 59.76 59.44 Tech 2 416 184 Tech 3 Tech 4
Contract manufacturing cost per unit, USD USA Tech 1 87.87 Tech 2 99.93 101 100 Tech 3 Tech 4 Asia Tech 1 113 Tech 2 174 140 146 Tech 3 Tech 4
Average unit cost per sold product, USD USA Tech 1 66.77 75.67 63.73 73.22 70.55 Tech 2 168 173 101 151 Tech 3 Tech 4 Weighted average 75.27 97.14 73.88 87.21 70.55
Asia Tech 1 64.25 75.28 58.73 70.29 72.70 Tech 2 138 206 140 184 Tech 3 Tech 4 Weighted average 68.90 90.02 73.30 80.85 72.70
Europe Tech 1 66.77 75.67 63.73 59.76 70.55 Tech 2 146 173 131 178 146 Tech 3 Tech 4 Weighted average 88.82 133 83.31 113 92.47
Production scrap, % USA Tech 1 1.49 1.54 1.47 1.52 1.49 Tech 2 2.51 1.98 Tech 3 Tech 4 Asia Tech 1 2.42 2.55 2.36 2.51 2.41 Tech 2 5.66 3.87 Tech 3 Tech 4
Logistics details
Tech 1, k units Company 1 Company 2 Company 3 Company 4 Company 5
USA Beginning inventory 745 5,377 0 5,184 0 Production 5,390 1,001 6,204 3,256 6,600 Contract manufacturing 0 0 0 0 1,090 Imported from Asia 0 0 0 0 0 Total products 6,135 6,378 6,204 8,440 7,690 Sales in USA -890 -1,659 -976 -1,171 -1,870 Exported to Asia -1,811 -2,754 -490 -1,822 -2,408 Exported to Europe -1,386 -525 -1,591 0 -1,471 Ending inventory 2,049 1,440 3,148 5,448 1,941 Unsatisfied demand 0 0 0 0 0
Asia Beginning inventory 0 0 0 0 0 Production 1,100 110 2,200 1,375 1,100 Contract manufacturing 0 0 0 0 490 Imported from USA 1,811 2,754 490 1,822 2,408 Total products 2,911 2,864 2,690 3,197 3,998 Sales in Asia -2,911 -2,864 -2,690 -2,327 -3,998 Exported to USA 0 0 0 0 0 Exported to Europe 0 0 0 -870 0 Ending inventory 0 0 0 0 0 Unsatisfied demand 0 0 0 0 0
Europe Imported from USA 1,386 525 1,591 0 1,471 Imported from Asia 0 0 0 870 0 Total products 1,386 525 1,591 870 1,471 Sales in Europe -1,386 -525 -1,591 -870 -1,471 Unsatisfied demand 0 0 0 0 0
Tech 2, k units Company 1 Company 2 Company 3 Company 4 Company 5
USA Beginning inventory 1,275 0 0 990 0
Production 0 1,430 0 3,080 0 Contract manufacturing 0 1,129 900 1,090 0 Imported from Asia 0 0 0 0 0 Total products 1,275 2,559 900 5,160 0 Sales in USA -81.82 -471 -361 -256 0 Exported to Asia 0 -213 0 0 0 Exported to Europe -139 -767 -149 -134 0 Ending inventory 1,054 1,108 390 4,769 0 Unsatisfied demand 0 0 0 0 268
Asia Beginning inventory 594 0 0 0 0 Production 0 49.50 0 825 0 Contract manufacturing 0 100 1,090 0 600 Imported from USA 0 213 0 0 0 Total products 594 363 1,090 825 600 Sales in Asia -196 -363 -588 -239 0 Exported to USA 0 0 0 0 0 Exported to Europe -398 0 -502 -586 -600 Ending inventory 0 0 0 0 0 Unsatisfied demand 0 0 0 0 282
Europe Imported from USA 139 767 149 134 0 Imported from Asia 398 0 502 586 600 Total products 537 767 651 721 600 Sales in Europe -537 -767 -651 -721 -600 Unsatisfied demand 0 0 0 0 46
Tech 3, k units Company 1 Company 2 Company 3 Company 4 Company 5
USA Beginning inventory Production Contract manufacturing Imported from Asia Total products Sales in USA Exported to Asia Exported to Europe Ending inventory Unsatisfied demand
Asia Beginning inventory Production Contract manufacturing Imported from USA Total products Sales in Asia Exported to USA Exported to Europe Ending inventory Unsatisfied demand
Europe Imported from USA Imported from Asia Total products Sales in Europe Unsatisfied demand
Tech 4, k units Company 1 Company 2 Company 3 Company 4 Company 5
USA Beginning inventory Production Contract manufacturing Imported from Asia Total products Sales in USA Exported to Asia Exported to Europe Ending inventory Unsatisfied demand
Asia Beginning inventory
Production Contract manufacturing Imported from USA Total products Sales in Asia Exported to USA Exported to Europe Ending inventory Unsatisfied demand
Europe Imported from USA Imported from Asia Total products Sales in Europe Unsatisfied demand
Cost report - Transportation cost incl. tariffs per sold product, USD
Company 1 Company 2 Company 3 Company 4 Company 5 USA Tech 1 0 0 0 0 0 Tech 2 0 0 0 0 Tech 3 Tech 4 Asia Tech 1 16.80 25.96 4.92 21.14 16.26 Tech 2 0 15.88 0 0 Tech 3 Tech 4 Europe Tech 1 12 12 12 8 12 Tech 2 9.03 12.00 8.91 8.75 8 Tech 3 Tech 4