esk zbrojovka Group: comment on the results hospodaen for 9M 2021

25.11.2021 08:55, BAACZGCE

The weapon manufacturer esk zbrojovka Group (CZG) today published the economic results for 3Q 2021, resp. 9M 2021.

Vosledky hospodaen za 9M 2021
thousand. K 9M 2021 Market consensus * 9M 2020

and / and

Inputs 7602 7725 4964 53,1 %
EBITDA 1428 1489 1107 29,0 %
EBIT 902 1030 816 10,5 %
is zisk
903 848 478 88,9 %
Earnings per share (K)
26,8 14,2 88,9 %

* average according to CZG survey

esk zbrojovka today showed slightly weak results at the operating level of the economy. Revenues for 9M 2021 meziron increased by 53.1% to 7602 million CZK, while the market consensus, resp. our estimates were set at the level of 7725 million K, resp. 7739 million K. The slight lag behind the estimates was also reflected in operating profitability, when the reported EBITDA (non-payable) in the amount of 1400 million CZK was 4%, resp. 8% did not expect the market, respectively. not our predictions. EBITDA inc. 1613 million K and the developing world. Weak than expected performance in this same market is, in our view, the main reason for the incomplete estimate of operating level. On the other hand, the Czech Armory has outperformed the market, mainly due to markedly positive other financial effects (these effects are in particular related to special derivatives, exchange rate effects and are mostly non-cash).

Leton insight entry, resp. EBITDA was confirmed in the interval 10340 10640 mil. K, resp. 1190 2190 mil. K, resp. was in accordance with the fact of an upsnn khorn hran rozpt. We take this as important. Overall, the market is slightly disappointing with the reported results for 9M 2021, but the insight indicates a solid turnaround this year. From the overall point of view, we evaluate the day of the results of the report as neutral and slightly negative.

See also  Thai baht market conditions: closed 32.82, new unfavorable market, waiting for the ECB meeting results, expecting a framework tomorrow

Jan Raka, analyst, Fio banka, as

Leave a Comment