assigment
Profit and Loss statement, k USD, Global
Company 1 Company 2 Company 3 Company 4 Company 5 Sales revenue 1,329,330 1,735,100 1,097,687 1,703,091 2,182,581
Costs and expenses Variable production costs 382,982 434,018 137,858 575,216 711,087 Feature costs 96,932 205,083 54,818 166,207 317,809 Contract manufacturing costs 126,206 219,138 235,522 98,796 0 Transportation and tariffs 45,813 44,404 45,194 40,327 45,621 R&D 0 100,416 66,198 150 86,256 Promotion 36,100 5,600 72,504 51,000 182,000 Administration 128,599 146,362 129,850 185,569 124,667 Costs and expenses total 816,632 1,155,022 741,944 1,117,265 1,467,440
OPERATING PROFIT BEFORE DEPR. (EBITDA) 512,699 580,078 355,743 585,826 715,141 Depreciation from fixed assets 194,563 332,030 211,678 398,308 200,998
OPERATING PROFIT (EBIT) 318,136 248,047 144,065 187,518 514,143 Net financing expenses -6,346 33,188 1,510 780,402 4,925
PROFIT BEFORE TAXES 324,482 214,860 142,555 -592,884 509,218 Income taxes 94,953 78,094 57,198 73,200 141,943
PROFIT FOR THE ROUND 229,529 136,766 85,358 -666,084 367,275
Balance sheet, k USD, Global
Company 1 Company 2 Company 3 Company 4 Company 5
ASSETS Fixed assets 1,102,523 1,881,506 1,199,508 2,257,078 1,138,988 Inventory 82,263 171,730 144,056 1,963,054 43,529 Receivables 51,179 66,801 42,261 65,569 84,029 Cash and cash equivalents 1,096,318 52,211 824,403 118,383 789,689 Total assets 2,332,284 2,172,248 2,210,227 4,404,085 2,056,236
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 229,529 136,766 85,358 -666,084 367,275 Retained earnings 1,227,866 906,282 1,256,855 -721,677 797,803 Total equity 1,797,395 1,383,048 1,682,213 -903,382 1,505,078
Liabilities Long-term debts 509,789 309,789 509,789 2,009,789 509,789 Short-term debts (unplanned) 0 444,660 0 3,263,777 0 Payables 25,099 34,752 18,226 33,901 41,369 Total liabilities 534,888 789,201 528,015 5,307,467 551,158
Total shareholders' equity and liabilities 2,332,284 2,172,248 2,210,227 4,404,085 2,056,236
Profit and Loss statement, k USD, USA
Company 1 Company 2 Company 3 Company 4 Company 5
Sales revenue from markets 342,174 474,830 352,102 375,306 628,885 from internal transfers 263,641 248,328 108,326 187,231 338,829 Sales revenue total 605,814 723,159 460,428 562,537 967,715
Costs and expenses Variable production costs 273,794 240,563 137,858 295,527 550,780 Feature costs 21,491 49,404 17,059 28,809 81,409 Contract manufacturing costs 126,206 209,333 70,515 55,161 0 Transportation and tariffs 0 0 0 0 0 R&D 0 54,392 41,809 100 57,504 Promotion 12,500 2,000 57,354 22,000 86,000 Administration 86,856 85,467 81,301 126,962 79,509 Costs of imported products 0 0 0 0 0 Costs and expenses total 520,846 641,160 405,895 528,559 855,202
OPERATING PROFIT BEFORE DEPR. (EBITDA) 84,968 81,999 54,533 33,978 112,512 Depreciation from fixed assets 107,863 92,690 77,518 209,608 77,518
OPERATING PROFIT (EBIT) -22,895 -10,692 -22,985 -175,630 34,994 Net financing expenses 18,464 29,896 16,192 558,950 11,418
PROFIT BEFORE TAXES -41,359 -40,588 -39,178 -734,581 23,576 Income taxes 0 0 0 0 0
PROFIT FOR THE ROUND -41,359 -40,588 -39,178 -734,581 23,576
Balance sheet, k USD, USA
Company 1 Company 2 Company 3 Company 4 Company 5
ASSETS Fixed assets 611,223 525,246 439,268 1,187,778 439,268 Inventory 82,263 171,730 116,675 1,963,054 43,529 Receivables 13,174 18,281 13,556 14,449 24,212 Cash and cash equivalents 168,082 2,000 313,665 2,000 355,462 Total assets 874,742 717,257 883,164 3,167,282 862,471
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 -41,359 -40,588 -39,178 -734,581 23,576 Retained earnings -154,915 -248,570 -41,126 -1,351,564 -240,233 Total equity 103,726 10,842 219,696 -1,641,766 83,343
Liabilities Long-term debts 509,789 309,789 509,789 2,009,789 509,789 Short-term debts (unplanned) 0 432,403 0 2,119,649 0 Internal loans 245,000 -55,000 145,000 665,000 245,000 Payables 16,227 19,223 8,679 14,611 24,339 Total liabilities 771,016 706,415 663,468 4,809,048 779,128
Total shareholders' equity and liabilities 874,742 717,257 883,164 3,167,282 862,471
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) 84,968 81,999 54,533 33,978 112,512 Change in receivables (incr - / decr +) -141 2,590 253 1,097 -539 Change in inventories (incr - / decr +) 100,075 210,231 74,315 -68,325 -18,303 Change in payables (incr + / decr -) 4,874 2,260 2,458 5,301 -9,383 Net financing expenses -18,464 -29,896 -16,192 -558,950 -11,418 Income taxes 0 0 0 0 0 Total 171,312 267,184 115,367 -586,900 72,870
Cash provided by investment activities Plant investments (-) / divestments (+) 0 0 0 0 0
Cash flow before financing activities 171,312 267,184 115,367 -586,900 72,870
Cash provided by financing activities Dividends 0 0 -78,810 0 -30,000 Proceeds from equity issues and buybacks 0 0 0 0 0 Dividends received from subsidiaries 0 0 81,389 0 39,034 Change in long-term debt (incr + / decr -) 0 0 0 1,000,000 0 Change in short-term debt (incr + / decr -) -5,230 232,816 0 -413,100 0 Change in internal loans 0 -500,000 0 0 -100,000 Total -5,230 -267,184 2,579 586,900 -90,966 Change in cash and cash equivalents 166,082 0 117,946 0 -18,096
Cash 1.1. 2,000 2,000 195,720 2,000 373,558 Cash 31.12. 168,082 2,000 313,665 2,000 355,462
Profit and Loss statement, k USD, Asia
Company 1 Company 2 Company 3 Company 4 Company 5
Sales revenue from markets 616,000 769,678 393,580 805,931 627,262 from internal transfers 0 20,916 88,891 48,331 6,708
Sales revenue total 616,000 790,594 482,471 854,262 633,969
Costs and expenses Variable production costs 109,188 193,454 0 279,689 160,307 Feature costs 53,517 113,225 20,981 97,199 121,578 Contract manufacturing costs 0 9,805 165,007 43,635 0 Transportation and tariffs 27,273 23,039 33,514 17,032 6,027 R&D 0 46,024 24,389 50 28,752 Promotion 13,500 1,600 6,000 16,000 40,000 Administration 31,743 50,895 38,549 48,607 35,158 Costs of imported products 112,677 98,242 76,284 39,787 28,503 Costs and expenses total 347,900 536,286 364,724 541,998 420,325
OPERATING PROFIT BEFORE DEPR. (EBITDA) 268,100 254,309 117,747 312,263 213,645 Depreciation from fixed assets 86,700 239,340 134,160 188,700 123,480
OPERATING PROFIT (EBIT) 181,400 14,969 -16,413 123,563 90,165 Net financing expenses -23,687 2,808 -13,638 217,995 -5,455
PROFIT BEFORE TAXES 205,087 12,161 -2,775 -94,431 95,620 Income taxes 45,119 2,675 0 0 21,036
PROFIT FOR THE ROUND 159,968 9,486 -2,775 -94,431 74,583
Balance sheet, k USD, Asia
Company 1 Company 2 Company 3 Company 4 Company 5
ASSETS Fixed assets 491,300 1,356,260 760,240 1,069,300 699,720 Inventory 0 0 27,381 0 0 Receivables 23,716 29,633 15,153 31,028 24,150 Cash and cash equivalents 650,853 2,000 254,156 2,000 151,791 Total assets 1,165,869 1,387,893 1,056,930 1,102,328 875,660
SHAREHOLDERS' EQUITY AND LIABILITIES Equity Share capital 20,000 20,000 20,000 20,000 20,000 Profit for the round 159,968 9,486 -2,775 -94,431 74,583 Retained earnings 803,587 658,078 756,254 210,785 694,993 Total equity 983,555 687,564 773,479 136,354 789,576 Liabilities Short-term debts (unplanned) 0 12,257 0 1,144,128 0 Internal loans 175,000 675,000 275,000 -195,000 75,000 Payables 7,314 13,072 8,451 16,846 11,085 Total liabilities 182,314 700,329 283,451 965,974 86,085
Total shareholders' equity and liabilities 1,165,869 1,387,893 1,056,930 1,102,328 875,660
Profit and Loss statement, k USD, Europe
Company 1 Company 2 Company 3 Company 4 Company 5
Sales revenue Sales revenue 371,157 490,592 352,006 521,854 926,434
Costs and expenses Feature costs 21,924 42,454 16,778 40,199 114,822 Transportation and tariffs 18,539 21,365 11,680 23,296 39,594 Promotion 10,100 2,000 9,150 13,000 56,000 Administration 10,000 10,000 10,000 10,000 10,000 Costs of imported products 150,963 171,002 120,933 195,775 317,034 Costs and expenses total 211,526 246,822 168,542 282,269 537,450
OPERATING PROFIT BEFORE DEPR. (EBITDA) 159,631 243,770 183,464 239,585 388,984 Depreciation from fixed assets 0 0 0 0 0
OPERATING PROFIT (EBIT) 159,631 243,770 183,464 239,585 388,984 Net financing expenses -1,123 484 -1,045 3,457 -1,038
PROFIT BEFORE TAXES 160,754 243,286 184,508 236,128 390,022
Income taxes 49,834 75,419 57,198 73,200 120,907
PROFIT FOR THE ROUND 110,920 167,868 127,311 162,928 269,115
Balance sheet, k USD, Europe
Company 1 Company 2 Company 3 Company 4 Company 5
ASSETS Fixed assets 0 0 0 0 0 Receivables 14,290 18,888 13,552 20,091 35,668 Cash and cash equivalents 277,383 48,211 256,581 114,383 282,437 Total assets 291,673 67,099 270,134 134,475 318,104
SHAREHOLDERS' EQUITY AND LIABILITIES Equity Share capital 20,000 20,000 20,000 20,000 20,000 Profit for the round 110,920 167,868 127,311 162,928 269,115 Retained earnings 579,194 496,774 541,727 419,102 343,044 Total equity 710,115 684,642 689,038 602,030 632,159
Liabilities Short-term debts (unplanned) 0 0 0 0 0 Internal loans -420,000 -620,000 -420,000 -470,000 -320,000 Payables 1,558 2,457 1,096 2,445 5,945 Total liabilities -418,442 -617,543 -418,904 -467,555 -314,055
Total shareholders' equity and liabilities 291,673 67,099 270,134 134,475 318,104
Ratios and key financial indicators
Ratios Company 1 Company 2 Company 3 Company 4 Company 5
Market capitalization of the company, k USD 8,101,341 7,584,403 7,475,822 49,765 9,400,809 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 270 253 249 1.58 313 Average trading price during the round, USD 261 245 290 #NUM! 295 Dividend yield, % 0 0 1.05 0 0.32 P/E ratio 35.30 55.46 87.58 n/a 25.60 Cumulative total shareholder return (p.a.), % 8.72 6.94 6.83 -69.93 13.15
Key financial indicators, % Company 1 Company 2 Company 3 Company 4 Company 5
Operating profit before depreciation (EBITDA) 38.57 33.43 32.41 34.40 32.77 Operating profit (EBIT) 23.93 14.30 13.12 11.01 23.56 Return on sales (ROS) 17.27 7.88 7.78 -39.11 16.83 Equity ratio 77.07 63.67 76.11 n/a 73.20 Net debt to equity (gearing) -32.63 50.77 -18.70 n/a -18.60 Return on capital employed (ROCE) 14.49 12.44 6.58 4.11 27.85 Return on equity (ROE) 13.64 10.40 5.08 n/a 27.48 Earnings per share (EPS), USD 7.65 4.56 2.85 -21.15 12.24
Market report, global Global market shares, %
Company 1 Company 2 Company 3 Company 4 Company 5 Total 17.47 23.20 11.75 22.18 25.39
Tech 1 18.67 23.28 10.08 21.29 26.69 Tech 2 15.55 23.07 14.44 23.63 23.31 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 200 200 266 230 230 Number of offered features 3 5 3 4 6 Sales, k units 778 975 463 678 1,174 Demand, k units 778 975 463 678 1,174 Tech 2 Selling Price, USD 299 250 315 315 330 Number of offered features 2 3 2 3 6 Sales, k units 624 1,119 726 696 1,088 Demand, k units 624 1,119 726 696 1,088 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 16.85 25.17 14.30 16.52 27.17 Tech 1 19.12 23.97 11.39 16.67 28.85 Tech 2 14.67 26.31 17.08 16.37 25.57 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 1,550 1,500 1,794 1,490 1,600 Number of offered features 3 5 2 4 6 Sales, k units 2,516 3,229 1,197 3,142 3,162 Demand, k units 2,516 3,229 1,197 3,142 3,162
Tech 2 Selling Price, RMB 2,299 2,200 2,450 2,050 2,400 Number of offered features 2 3 2 3 6 Sales, k units 685 908 552 1,211 215 Demand, k units 685 908 552 1,211 886
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 19.04 24.60 10.40 25.88 20.08
Tech 1 19 24.38 9.04 23.72 23.87 Tech 2 19.19 25.43 15.44 33.92 6.03 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 120 130 145 130 130 Number of offered features 3 5 3 4 6 Sales, k units 711 789 503 747 1,390 Demand, k units 711 789 503 747 1,390
Tech 2 Selling Price, EUR 239 240 280 225 270 Number of offered features 2 3 2 3 6 Sales, k units 760 1,043 644 1,237 1,799 Demand, k units 760 1,043 644 1,237 1,799 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 15.29 19.04 11.92 20.62 33.14
Tech 1 17.17 19.06 12.14 18.05 33.58 Tech 2 13.86 19.02 11.75 22.56 32.81 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 2,503 3,300 2,772 Tech 2 770 2,200 3,102 Tech 3 Tech 4
Asia Tech 1 2,228 3,630 1,650 3,300 Tech 2 825 Tech 3 Tech 4
Contract manufacturing, k units USA Tech 1 Tech 2 1,428 800 1,428 Tech 3 Tech 4 Asia Tech 1 Tech 2 1,394 Tech 3 Tech 4
Capacity usage, % USA Tech 1 35 30 42 Tech 2 10 20 47 Tech 3 Tech 4 Free capacity 90 65 100 50 11 Asia Tech 1 81 60 30 100 Tech 2 15
Tech 3 Tech 4 Free capacity 19 40 100 55 0
Inventory, k units USA Tech 1 967 2,551 338 12,693 762 Tech 2 129 66 1,013 9,979 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 0 198 0 0 Tech 3 0 0 0 0 0 Tech 4 0 0 0 0 0
Inventory management costs, k USD 2,305 3,807 2,588 26,798 707
Origin of products sold in USA, k units USA 1,402 2,094 1,190 1,374 2,261 Asia
Origin of products sold in Asia, k units USA 974 823 1,197 608 215 Asia 2,228 3,315 552 3,744 3,162
Origin of products sold in Europe, k units USA 1,471 1,432 503 1,588 3,051 Asia 401 644 396 138
Number of plants this round USA 14 13 12 20 12 Asia 5 11 7 10 6
Number of plants next round USA 14 13 12 20 12 Asia 5 11 7 10 8
Number of plants after next round USA 14 13 12 20 12 Asia 5 11 7 10 8
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 8.52 5.57 19.17 3.91 1.78 Products sold in Europe 12.60 11.66 10.19 11.74 12.41
Production cost per unit, USD USA Tech 1 64.75 58.84 57.11 Tech 2 215 102 132 Tech 3 Tech 4 Asia Tech 1 49.02 52.21 47.80 48.58 Tech 2 107 Tech 3 Tech 4
Contract manufacturing cost per unit, USD USA Tech 1 Tech 2 93.88 97.03 93.88 Tech 3 Tech 4 Asia Tech 1 Tech 2 138 Tech 3 Tech 4
Average unit cost per sold product, USD USA Tech 1 66.42 65.73 63.73 65.41 57.57 Tech 2 136 119 95.21 117 132 Tech 3 Tech 4 Weighted average 97.59 94.40 82.95 91.68 93.57
Asia Tech 1 51.02 52.21 63.73 53.19 48.58 Tech 2 136 123 138 122 132 Tech 3 Tech 4 Weighted average 69.30 67.82 87.16 72.32 53.92
Europe Tech 1 66.42 58.87 63.73 65.41 56.68 Tech 2 136 119 138 119 132 Tech 3 Tech 4 Weighted average 103 93.32 105 98.67 99.40
Production scrap, % USA Tech 1 1.39 1.32 1.33 Tech 2 2.31 1.53 1.86 Tech 3 Tech 4 Asia Tech 1 2.09 2.15 1.97 1.99 Tech 2 2.54 Tech 3 Tech 4
Logistics details
Tech 1, k units Company 1 Company 2 Company 3 Company 4 Company 5
USA Beginning inventory 2,745 1,412 2,501 11,426 416 Production 0 2,503 0 3,300 2,772 Contract manufacturing 0 0 0 0 0 Imported from Asia 0 0 0 0 0 Total products 2,745 3,915 2,501 14,726 3,188 Sales in USA -778 -975 -463 -678 -1,174 Exported to Asia -289 0 -1,197 -608 0 Exported to Europe -711 -389 -503 -747 -1,252 Ending inventory 967 2,551 338 12,693 762 Unsatisfied demand 0 0 0 0 0
Asia Beginning inventory 0 0 0 883 0 Production 2,228 3,630 0 1,650 3,300 Contract manufacturing 0 0 0 0 0 Imported from USA 289 0 1,197 608 0 Total products 2,516 3,630 1,197 3,142 3,300 Sales in Asia -2,516 -3,229 -1,197 -3,142 -3,162 Exported to USA 0 0 0 0 0 Exported to Europe 0 -401 0 0 -138 Ending inventory 0 0 0 0 0 Unsatisfied demand 0 0 0 0 0
Europe Imported from USA 711 389 503 747 1,252 Imported from Asia 0 401 0 0 138 Total products 711 789 503 747 1,390 Sales in Europe -711 -789 -503 -747 -1,390 Unsatisfied demand 0 0 0 0 0
Tech 2, k units Company 1 Company 2 Company 3 Company 4 Company 5
USA Beginning inventory 0 2,251 312 9,316 0
Production 770 0 0 2,200 3,102 Contract manufacturing 1,428 800 1,428 0 0 Imported from Asia 0 0 0 0 0 Total products 2,198 3,051 1,740 11,516 3,102 Sales in USA -624 -1,119 -726 -696 -1,088 Exported to Asia -685 -823 0 0 -215 Exported to Europe -760 -1,043 0 -840 -1,799 Ending inventory 129 66.34 1,013 9,979 0 Unsatisfied demand 0 0 0 0 0
Asia Beginning inventory 0 85.11 0 782 0 Production 0 0 0 825 0 Contract manufacturing 0 0 1,394 0 0 Imported from USA 685 823 0 0 215 Total products 685 908 1,394 1,607 215 Sales in Asia -685 -908 -552 -1,211 -215 Exported to USA 0 0 0 0 0 Exported to Europe 0 0 -644 -396 0 Ending inventory 0 0.00 198 0 0 Unsatisfied demand 0 0 0 0 671
Europe Imported from USA 760 1,043 0 840 1,799 Imported from Asia 0 0 644 396 0 Total products 760 1,043 644 1,237 1,799 Sales in Europe -760 -1,043 -644 -1,237 -1,799 Unsatisfied demand 0 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 3.22 0 28.00 5.42 0 Tech 2 28 25.38 0 0 28 Tech 3 Tech 4 Europe Tech 1 12.60 10.42 12.60 12.60 12.17 Tech 2 12.60 12.60 8.30 11.22 12.60 Tech 3 Tech 4