assigment
Profit and Loss statement, k USD, Global
Company 1 Company 2 Company 3 Company 4 Company 5 Sales revenue 1,241,129 1,931,888 1,450,088 1,601,518 2,230,508
Costs and expenses Variable production costs 325,774 539,493 167,426 521,031 891,871 Feature costs 83,589 175,782 97,084 105,950 300,084 Contract manufacturing costs 87,501 212,453 278,811 114,768 24,174 Transportation and tariffs 24,962 67,093 14,744 15,219 99,485 R&D 0 55,000 173,500 55,000 266,663 Promotion 42,100 49,000 43,250 59,000 142,000 Administration 129,803 130,622 127,770 178,096 118,405 Costs and expenses total 693,729 1,229,443 902,585 1,049,065 1,842,683
OPERATING PROFIT BEFORE DEPR. (EBITDA) 547,400 702,445 547,503 552,453 387,825 Depreciation from fixed assets 228,898 249,448 220,798 468,598 179,998
OPERATING PROFIT (EBIT) 318,502 452,997 326,706 83,855 207,828 Net financing expenses 14,144 20,287 2,360 578,764 6,174
PROFIT BEFORE TAXES 304,358 432,710 324,345 -494,908 201,654 Income taxes 80,098 104,126 103,212 54,508 94,302
PROFIT FOR THE ROUND 224,260 328,584 221,133 -549,416 107,352
Balance sheet, k USD, Global
Company 1 Company 2 Company 3 Company 4 Company 5
ASSETS Fixed assets 1,297,086 1,413,536 1,251,186 2,655,386 1,019,986 Inventory 182,338 395,689 190,990 2,050,620 25,227 Receivables 47,783 74,378 55,828 61,658 85,875 Cash and cash equivalents 575,768 6,000 708,935 6,000 597,156 Total assets 2,102,975 1,889,603 2,206,939 4,773,665 1,728,244
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 224,260 328,584 221,133 -549,416 107,352 Retained earnings 1,003,606 577,698 1,114,532 -172,261 720,452 Total equity 1,567,866 1,246,282 1,675,665 -237,298 1,167,803
Liabilities Long-term debts 509,789 309,789 509,789 1,009,789 509,789 Short-term debts (unplanned) 5,230 295,231 0 3,972,031 0 Payables 20,090 38,301 21,485 29,143 50,651 Total liabilities 535,109 643,321 531,274 5,010,963 560,440
Total shareholders' equity and liabilities 2,102,975 1,889,603 2,206,939 4,773,665 1,728,244
Profit and Loss statement, k USD, USA
Company 1 Company 2 Company 3 Company 4 Company 5
Sales revenue from markets 338,509 542,102 358,685 403,810 614,892 from internal transfers 145,353 170,217 38,253 0 532,323 Sales revenue total 483,863 712,319 396,938 403,810 1,147,215
Costs and expenses Variable production costs 187,621 355,400 41,185 206,046 774,220 Feature costs 19,760 42,649 21,319 25,147 77,502 Contract manufacturing costs 87,501 42,540 99,093 10,624 24,174 Transportation and tariffs 0 0 0 0 0 R&D 0 37,632 115,667 36,667 199,997 Promotion 12,500 20,000 17,300 23,000 66,000 Administration 88,060 85,426 82,613 119,489 80,217 Costs of imported products 0 0 0 0 0 Costs and expenses total 395,441 583,646 377,176 420,973 1,222,110
OPERATING PROFIT BEFORE DEPR. (EBITDA) 88,421 128,673 19,762 -17,163 -74,894 Depreciation from fixed assets 126,898 109,048 91,198 246,598 91,198
OPERATING PROFIT (EBIT) -38,476 19,625 -71,436 -263,761 -166,092 Net financing expenses 25,447 18,095 12,502 405,917 15,491
PROFIT BEFORE TAXES -63,923 1,530 -83,938 -669,678 -181,583 Income taxes 0 0 0 0 0
PROFIT FOR THE ROUND -63,923 1,530 -83,938 -669,678 -181,583
Balance sheet, k USD, USA
Company 1 Company 2 Company 3 Company 4 Company 5
ASSETS Fixed assets 719,086 617,936 516,786 1,397,386 516,786 Inventory 182,338 381,961 190,990 1,894,729 25,227 Receivables 13,033 20,871 13,809 15,547 23,673 Cash and cash equivalents 2,000 2,000 195,720 2,000 373,558 Total assets 916,456 1,022,768 917,305 3,309,662 939,244
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 -63,923 1,530 -83,938 -669,678 -181,583 Retained earnings -90,992 -250,100 40,233 -681,886 -67,684 Total equity 145,085 51,430 256,295 -907,186 50,733
Liabilities Long-term debts 509,789 309,789 509,789 1,009,789 509,789 Short-term debts (unplanned) 5,230 199,586 0 2,532,749 0 Internal loans 245,000 445,000 145,000 665,000 345,000 Payables 11,353 16,963 6,221 9,310 33,722 Total liabilities 771,372 971,338 661,010 4,216,847 888,511
Total shareholders' equity and liabilities 916,456 1,022,768 917,305 3,309,662 939,244
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) 88,421 128,673 19,762 -17,163 -74,894 Change in receivables (incr - / decr +) -2,209 -204 318 -429 -7,111 Change in inventories (incr - / decr +) 128,276 -84,787 49,107 -821,837 111,715 Change in payables (incr + / decr -) -1,330 -8,569 -4,028 -4,404 16,378 Net financing expenses -25,447 -18,095 -12,502 -405,917 -15,491 Income taxes 0 0 0 0 0 Total 187,712 17,018 52,658 -1,249,750 30,596
Cash provided by investment activities Plant investments (-) / divestments (+) 0 0 0 -560,000 0
Cash flow before financing activities 187,712 17,018 52,658 -1,809,750 30,596
Cash provided by financing activities Dividends 0 0 0 0 -30,000 Proceeds from equity issues and buybacks 0 0 0 0 0 Dividends received from subsidiaries 0 0 0 0 32,818 Change in long-term debt (incr + / decr -) 0 0 0 300,000 0 Change in short-term debt (incr + / decr -) -187,712 182,982 0 1,259,750 0 Change in internal loans 0 -200,000 -300,000 250,000 300,000 Total -187,712 -17,018 -300,000 1,809,750 302,818 Change in cash and cash equivalents 0 0 -247,342 0 333,414
Cash 1.1. 2,000 2,000 443,062 2,000 40,144 Cash 31.12. 2,000 2,000 195,720 2,000 373,558
Profit and Loss statement, k USD, Asia
Company 1 Company 2 Company 3 Company 4 Company 5
Sales revenue from markets 683,828 920,941 679,284 766,827 887,707 from internal transfers 14,488 150,495 96,469 171,590 0
Sales revenue total 698,316 1,071,436 775,753 938,417 887,707
Costs and expenses Variable production costs 138,154 184,094 126,241 314,985 117,652 Feature costs 47,509 97,510 53,643 49,826 129,212 Contract manufacturing costs 0 169,913 179,718 104,145 0 Transportation and tariffs 13,087 48,620 0 0 62,194 R&D 0 17,368 57,833 18,333 66,666 Promotion 19,500 16,000 8,650 18,000 36,000 Administration 31,743 35,196 35,158 48,607 28,189 Costs of imported products 73,032 115,957 0 0 163,244 Costs and expenses total 323,025 684,657 461,243 553,896 603,156
OPERATING PROFIT BEFORE DEPR. (EBITDA) 375,291 386,779 314,510 384,521 284,551 Depreciation from fixed assets 102,000 140,400 129,600 222,000 88,800
OPERATING PROFIT (EBIT) 273,291 246,379 184,910 162,521 195,751 Net financing expenses -10,621 216 -9,718 163,583 -8,425
PROFIT BEFORE TAXES 283,911 246,164 194,627 -1,063 204,176 Income taxes 53,943 46,771 36,979 0 38,793
PROFIT FOR THE ROUND 229,968 199,392 157,648 -1,063 165,383
Balance sheet, k USD, Asia
Company 1 Company 2 Company 3 Company 4 Company 5
ASSETS Fixed assets 578,000 795,600 734,400 1,258,000 503,200 Inventory 0 13,728 0 155,891 0 Receivables 26,327 35,456 26,152 29,523 34,177 Cash and cash equivalents 401,912 2,000 351,966 2,000 90,649 Total assets 1,006,239 846,784 1,112,519 1,445,414 628,025
SHAREHOLDERS' EQUITY AND LIABILITIES Equity Share capital 20,000 20,000 20,000 20,000 20,000 Profit for the round 229,968 199,392 157,648 -1,063 165,383 Retained earnings 573,619 458,685 646,026 211,848 555,744 Total equity 823,587 678,078 823,674 230,785 741,127 Liabilities Short-term debts (unplanned) 0 74,451 0 1,391,574 0 Internal loans 175,000 75,000 275,000 -195,000 -125,000 Payables 7,652 19,255 13,845 18,055 11,899 Total liabilities 182,652 168,706 288,845 1,214,629 -113,101
Total shareholders' equity and liabilities 1,006,239 846,784 1,112,519 1,445,414 628,025
Profit and Loss statement, k USD, Europe
Company 1 Company 2 Company 3 Company 4 Company 5
Sales revenue Sales revenue 218,792 468,845 412,119 430,881 727,909
Costs and expenses Feature costs 16,320 35,624 22,121 30,977 93,371 Transportation and tariffs 11,875 18,473 14,744 15,219 37,291 Promotion 10,100 13,000 17,300 18,000 40,000 Administration 10,000 10,000 10,000 10,000 10,000 Costs of imported products 86,810 204,755 134,722 171,590 369,079 Costs and expenses total 135,104 281,853 198,887 245,785 549,740
OPERATING PROFIT BEFORE DEPR. (EBITDA) 83,688 186,993 213,232 185,095 178,169 Depreciation from fixed assets 0 0 0 0 0
OPERATING PROFIT (EBIT) 83,688 186,993 213,232 185,095 178,169 Net financing expenses -682 1,977 -424 9,263 -892
PROFIT BEFORE TAXES 84,370 185,016 213,655 175,833 179,061
Income taxes 26,155 57,355 66,233 54,508 55,509
PROFIT FOR THE ROUND 58,215 127,661 147,422 121,324 123,552
Balance sheet, k USD, Europe
Company 1 Company 2 Company 3 Company 4 Company 5
ASSETS Fixed assets 0 0 0 0 0 Receivables 8,423 18,051 15,867 16,589 28,024 Cash and cash equivalents 171,856 2,000 161,248 2,000 132,950 Total assets 180,280 20,051 177,115 18,589 160,974
SHAREHOLDERS' EQUITY AND LIABILITIES Equity Share capital 20,000 20,000 20,000 20,000 20,000 Profit for the round 58,215 127,661 147,422 121,324 123,552 Retained earnings 520,979 369,113 428,273 297,777 232,392 Total equity 599,194 516,774 595,696 439,102 375,944
Liabilities Short-term debts (unplanned) 0 21,194 0 47,708 0 Internal loans -420,000 -520,000 -420,000 -470,000 -220,000 Payables 1,085 2,083 1,419 1,779 5,030 Total liabilities -418,915 -496,723 -418,581 -420,513 -214,970
Total shareholders' equity and liabilities 180,280 20,051 177,115 18,589 160,974
Ratios and key financial indicators
Ratios Company 1 Company 2 Company 3 Company 4 Company 5
Market capitalization of the company, k USD 7,828,342 7,337,189 8,698,973 #NUM! 8,864,386 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 261 245 290 #NUM! 295 Average trading price during the round, USD 235 236 281 33.35 255 Dividend yield, % 0 0 0 0 0.34 P/E ratio 34.91 22.33 39.34 n/a 82.57 Cumulative total shareholder return (p.a.), % 10.52 8.15 14.47 -99.75 15.49
Key financial indicators, % Company 1 Company 2 Company 3 Company 4 Company 5
Operating profit before depreciation (EBITDA) 44.10 36.36 37.76 34.50 17.39 Operating profit (EBIT) 25.66 23.45 22.53 5.24 9.32 Return on sales (ROS) 18.07 17.01 15.25 -34.31 4.81 Equity ratio 74.55 65.95 75.93 n/a 67.57 Net debt to equity (gearing) -3.87 48.06 -11.88 n/a -7.48 Return on capital employed (ROCE) 15.43 28.80 15.75 2.20 12.68 Return on equity (ROE) 15.41 30.37 14.13 -1,469 9.51 Earnings per share (EPS), USD 7.48 10.95 7.37 -17.44 3.58
Market report, global Global market shares, %
Company 1 Company 2 Company 3 Company 4 Company 5 Total 14.84 23.25 15.67 18.40 27.84
Tech 1 16.55 24.06 13.45 15.68 30.27 Tech 2 11.16 21.50 20.45 24.27 22.62 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 229 230 272 265 230 Number of offered features 3 4 4 4 6 Sales, k units 768 1,142 561 671 1,431 Demand, k units 768 1,142 561 671 1,431 Tech 2 Selling Price, USD 329 330 315 300 330 Number of offered features 2 3 2 2 5 Sales, k units 494 847 654 753 866 Demand, k units 494 847 654 753 866 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 15.42 24.29 14.84 17.40 28.05 Tech 1 16.80 24.96 12.27 14.67 31.29 Tech 2 13.67 23.44 18.10 20.84 23.95 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 1,600 1,900 1,850 1,600 Number of offered features 3 4 4 3 5 Sales, k units 2,339 3,657 1,839 2,135 4,157 Demand, k units 2,339 3,657 1,839 2,135 4,157
Tech 2 Selling Price, RMB 2,800 2,800 2,450 2,300 2,400 Number of offered features 2 3 2 2 4 Sales, k units 451 542 792 950 188 Demand, k units 451 542 792 950 938
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 16.36 24.63 15.43 18.09 25.48
Tech 1 16.56 25.89 13.02 15.11 29.43 Tech 2 15.44 18.54 27.09 32.51 6.43 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 140 140 145 135 130 Number of offered features 3 4 3 4 6 Sales, k units 734 785 721 832 1,436 Demand, k units 734 785 721 832 1,436
Tech 2 Selling Price, EUR 255 270 280 240 270 Number of offered features 2 3 2 2 5 Sales, k units 259 933 763 917 1,389 Demand, k units 788 933 763 917 1,389 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 11.33 19.59 16.92 19.95 32.22
Tech 1 16.28 17.40 15.99 18.46 31.87 Tech 2 6.08 21.90 17.90 21.53 32.59 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 1,925 3,575 6,600 3,300 Tech 2 715 4,400 2,442 Tech 3 Tech 4
Asia Tech 1 2,613 1,980 2,475 3,850 2,200 Tech 2 330 1,650 Tech 3 Tech 4
Contract manufacturing, k units USA Tech 1 50 Tech 2 150 1,275 900 900 Tech 3 Tech 4 Asia Tech 1 Tech 2 1,230 1,230 1,000 Tech 3 Tech 4
Capacity usage, % USA Tech 1 25 50 60 50 Tech 2 10 40 37 Tech 3 Tech 4 Free capacity 75 40 100 0 13 Asia Tech 1 95 60 75 70 100 Tech 2 10 30
Tech 3 Tech 4 Free capacity 5 30 25 0 0
Inventory, k units USA Tech 1 2,745 1,412 2,501 11,426 416 Tech 2 0 2,251 312 9,316 0 Tech 3 0 0 0 0 0 Tech 4 0 0 0 0 0
Asia Tech 1 0 0 0 883 0 Tech 2 0 85 0 782 0 Tech 3 0 0 0 0 0 Tech 4 0 0 0 0 0
Inventory management costs, k USD 3,509 3,765 3,810 19,325 1,414
Origin of products sold in USA, k units USA 1,262 1,989 1,215 1,424 2,297 Asia
Origin of products sold in Asia, k units USA 451 1,677 2,145 Asia 2,339 2,522 2,631 3,085 2,200
Origin of products sold in Europe, k units USA 719 785 409 2,825 Asia 274 933 1,074 1,749
Number of plants this round USA 14 13 12 20 12 Asia 5 6 6 10 4
Number of plants next round USA 14 13 12 20 12 Asia 5 11 7 10 6
Number of plants after next round USA 14 13 12 20 12 Asia 5 11 7 10 6
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 4.69 11.58 0 0 14.32 Products sold in Europe 11.96 10.76 9.94 8.70 13.20
Production cost per unit, USD USA Tech 1 66.90 67.47 64.75 60.62 Tech 2 161 117 199 Tech 3 Tech 4 Asia Tech 1 52.88 58.65 51.01 54.83 53.48 Tech 2 218 131 Tech 3 Tech 4
Contract manufacturing cost per unit, USD USA Tech 1 118 Tech 2 120 99.32 101 101 Tech 3 Tech 4 Asia Tech 1 Tech 2 146 146 148 Tech 3 Tech 4
Average unit cost per sold product, USD USA Tech 1 66.07 69.16 63.73 67.84 64.30 Tech 2 162 140 101 128 199 Tech 3 Tech 4 Weighted average 104 99.23 83.95 99.74 115
Asia Tech 1 52.88 63.47 51.01 54.83 58.57 Tech 2 162 161 146 137 199 Tech 3 Tech 4 Weighted average 70.51 76.09 79.62 80.24 64.65
Europe Tech 1 61.15 69.16 52.51 54.83 64.30 Tech 2 162 161 127 137 199 Tech 3 Tech 4 Weighted average 87.42 119 90.84 98.09 131
Production scrap, % USA Tech 1 1.41 1.48 1.41 1.39 Tech 2 2.06 1.66 2.35 Tech 3 Tech 4 Asia Tech 1 2.19 2.38 2.14 2.19 2.15 Tech 2 4.13 2.92 Tech 3 Tech 4
Logistics details
Tech 1, k units Company 1 Company 2 Company 3 Company 4 Company 5
USA Beginning inventory 2,049 1,440 3,148 5,448 1,941 Production 1,925 3,575 0 6,600 3,300 Contract manufacturing 0 0 0 50 0 Imported from Asia 0 0 0 0 0 Total products 3,974 5,015 3,148 12,098 5,241 Sales in USA -768 -1,142 -561 -671 -1,431 Exported to Asia 0 -1,677 0 0 -1,957 Exported to Europe -460 -785 -84.92 0 -1,436 Ending inventory 2,745 1,412 2,501 11,426 416 Unsatisfied demand 0 0 0 0 0
Asia Beginning inventory 0 0 0 0 0 Production 2,613 1,980 2,475 3,850 2,200 Contract manufacturing 0 0 0 0 0 Imported from USA 0 1,677 0 0 1,957 Total products 2,613 3,657 2,475 3,850 4,157 Sales in Asia -2,339 -3,657 -1,839 -2,135 -4,157 Exported to USA 0 0 0 0 0 Exported to Europe -274 0 -636 -832 0 Ending inventory 0 0 0 883 0 Unsatisfied demand 0 0 0 0 0
Europe Imported from USA 460 785 84.92 0 1,436 Imported from Asia 274 0 636 832 0 Total products 734 785 721 832 1,436 Sales in Europe -734 -785 -721 -832 -1,436 Unsatisfied demand 0 0 0 0 0
Tech 2, k units Company 1 Company 2 Company 3 Company 4 Company 5
USA Beginning inventory 1,054 1,108 390 4,769 0
Production 0 715 0 4,400 2,442 Contract manufacturing 150 1,275 900 900 0 Imported from Asia 0 0 0 0 0 Total products 1,204 3,098 1,290 10,069 2,442 Sales in USA -494 -847 -654 -753 -866 Exported to Asia -451 0 0 0 -188 Exported to Europe -259 0 -324 0 -1,389 Ending inventory 0 2,251 312 9,316 0 Unsatisfied demand 0 0 0 0 0
Asia Beginning inventory 0 0 0 0 0 Production 0 330 0 1,650 0 Contract manufacturing 0 1,230 1,230 1,000 0 Imported from USA 451 0 0 0 188 Total products 451 1,560 1,230 2,650 188 Sales in Asia -451 -542 -792 -950 -188 Exported to USA 0 0 0 0 0 Exported to Europe 0 -933 -438 -917 0 Ending inventory 0 85.11 0 782 0 Unsatisfied demand 0 0 0 0 750
Europe Imported from USA 259 0 324 0 1,389 Imported from Asia 0 933 438 917 0 Total products 259 933 763 917 1,389 Sales in Europe -259 -933 -763 -917 -1,389 Unsatisfied demand 529 0 0 0 0
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 0 Tech 3 Tech 4 Asia Tech 1 0 13.30 0 0 13.65 Tech 2 29 0 0 0 29 Tech 3 Tech 4 Europe Tech 1 11.52 13.20 9.23 8.70 13.20 Tech 2 13.20 8.70 10.61 8.70 13.20 Tech 3 Tech 4