Profit and Loss statement, k USD, Global
Company 1 Company 2 Company 3 Company 4 Company 5Sales revenue 1,729,728 1,937,108 2,331,830 1,737,756 2,667,825
Costs and expensesVariable production costs 521,612 967,939 561,296 685,017 847,835Feature costs 157,411 296,605 220,662 204,047 644,331Contract manufacturing costs 282,904 237,731 267,072 33,599 0Transportation and tariffs 52,192 18,066 58,849 97,964 122,605R&D 0 165,000 100,504 56,526 0Promotion 37,500 21,100 200,000 43,300 202,000Administration 186,595 162,740 147,389 175,987 157,651Costs and expenses total 1,238,215 1,869,182 1,555,773 1,296,441 1,974,422
OPERATING PROFIT BEFORE DEPR. (EBITDA) 491,513 67,926 776,057 441,315 693,403Depreciation from fixed assets 363,686 203,908 129,997 177,801 246,918
OPERATING PROFIT (EBIT) 127,827 -135,983 646,060 263,514 446,486Net financing expenses 53,619 194,686 1,836 574,940 -26,738
PROFIT BEFORE TAXES 74,208 -330,669 644,223 -311,426 473,223Income taxes 54,662 10,245 160,892 76,734 133,523
PROFIT FOR THE ROUND 19,546 -340,914 483,332 -388,161 339,701
Balance sheet, k USD, Global
Company 1 Company 2 Company 3 Company 4 Company 5
ASSETSFixed assets 2,060,887 1,155,480 736,648 1,007,538 1,399,201Inventory 663,623 268,369 274,288 740,257 54,146Receivables 66,595 74,579 89,775 66,904 102,711Cash and cash equivalents 965,773 1,226,612 1,533,568 104,464 1,962,531Total assets 3,756,878 2,725,040 2,634,279 1,919,163 3,518,590
SHAREHOLDERS' EQUITY AND LIABILITIESEquityShare capital 340,000 340,000 340,000 355,000 340,000Additional paid-in capital 0 0 0 129,379 0Profit for the round 19,546 -340,914 483,332 -388,161 339,701Retained earnings 2,004,220 756,219 1,258,505 -2,191,809 2,266,932Total equity 2,363,766 755,306 2,081,837 -2,095,591 2,946,632
LiabilitiesLong-term debts 1,259,789 309,789 509,789 2,959,789 509,789Short-term debts (unplanned) 94,279 1,601,412 0 1,015,671 0Payables 39,044 58,533 42,653 39,294 62,169Total liabilities 1,393,112 1,969,734 552,442 4,014,754 571,958
Total shareholders' equity and liabilities 3,756,878 2,725,040 2,634,279 1,919,163 3,518,590
Profit and Loss statement, k USD, USA
Company 1 Company 2 Company 3 Company 4 Company 5
Sales revenuefrom markets 501,660 465,147 514,926 435,117 689,785from internal transfers 181,914 39,613 187,216 299,037 165,940Sales revenue total 683,574 504,760 702,142 734,155 855,724
Costs and expensesVariable production costs 274,083 222,775 288,699 477,989 370,232Feature costs 38,562 68,840 57,012 42,754 147,102Contract manufacturing costs 149,968 57,902 74,931 33,599 0Transportation and tariffs 0 0 0 0 0R&D 0 89,375 63,476 39,133 0Promotion 14,000 20,000 50,000 23,300 110,000Administration 111,042 94,599 93,218 119,041 86,440Costs of imported products 0 0 0 0 0Costs and expenses total 587,655 553,492 627,336 735,816 713,775
OPERATING PROFIT BEFORE DEPR. (EBITDA) 95,919 -48,732 74,806 -1,661 141,949Depreciation from fixed assets 129,241 56,924 47,606 96,595 47,606
OPERATING PROFIT (EBIT) -33,322 -105,656 27,200 -98,257 94,344Net financing expenses 84,660 234,384 23,937 523,184 5,822
PROFIT BEFORE TAXES -117,982 -340,039 3,263 -621,441 88,521Income taxes 0 0 0 0 0
PROFIT FOR THE ROUND -117,982 -340,039 3,263 -621,441 88,521
Balance sheet, k USD, USA
Company 1 Company 2 Company 3 Company 4 Company 5
ASSETSFixed assets 732,367 322,567 269,766 547,374 269,766Inventory 563,854 195,951 222,838 740,257 33,781Receivables 19,314 17,908 19,825 16,752 26,557Cash and cash equivalents 2,000 2,000 179,990 2,000 684,050Total assets 1,317,535 538,425 692,418 1,306,383 1,014,153
SHAREHOLDERS' EQUITY AND LIABILITIESEquityShare capital 300,000 300,000 300,000 315,000 300,000Additional paid-in capital 0 0 0 129,379 0Profit for the round -117,982 -340,039 3,263 -621,441 88,521Retained earnings -181,361 -791,193 -281,829 -3,401,277 50,925Total equity 657 -831,232 21,435 -3,578,339 439,446
LiabilitiesLong-term debts 1,259,789 309,789 509,789 2,959,789 509,789Short-term debts (unplanned) 94,279 1,601,412 0 968,591 0Internal loans -55,000 -555,000 145,000 935,000 45,000Payables 17,811 13,456 16,195 21,342 19,917Total liabilities 1,316,879 1,369,657 670,984 4,884,722 574,706
Total shareholders' equity and liabilities 1,317,535 538,425 692,418 1,306,383 1,014,153
PARENT COMPANY'S CASH FLOW STATEMENT, k USD
Company 1 Company 2 Company 3 Company 4 Company 5
Cash provided by operating activitiesOperating profit before depreciation (EBITDA) 95,919 -48,732 74,806 -1,661 141,949Change in receivables (incr – / decr +) 3,782 -4,738 835 -1,805 8,335Change in inventories (incr – / decr +) -362,703 280,678 363,630 269,808 -33,781Change in payables (incr + / decr -) -4,604 4,410 -5,173 -4,415 -7,439Net financing expenses -84,660 -234,384 -23,937 -523,184 -5,822Income taxes 0 0 0 0 0Total -352,266 -2,766 410,161 -261,257 103,243
Cash provided by investment activitiesPlant investments (-) / divestments (+) -420,000 0 0 0 0
Cash flow before financing activities -772,266 -2,766 410,161 -261,257 103,243
Cash provided by financing activitiesDividends 0 0 0 0 -30,000Proceeds from equity issues and buybacks 0 0 0 0 0Dividends received from subsidiaries 0 0 0 0 29,326Change in long-term debt (incr + / decr -) 0 0 0 450,000 0Change in short-term debt (incr + / decr -) 94,279 2,766 -232,171 -58,743 0Change in internal loans -250,000 0 0 -130,000 100,000Total -155,721 2,766 -232,171 261,257 99,326Change in cash and cash equivalents -927,987 0 177,990 0 202,569
Cash 1.1. 929,987 2,000 2,000 2,000 481,481Cash 31.12. 2,000 2,000 179,990 2,000 684,050
Profit and Loss statement, k USD, Asia
Company 1 Company 2 Company 3 Company 4 Company 5
Sales revenuefrom markets 936,275 1,027,126 904,675 904,280 999,622from internal transfers 21,231 333,774 192,141 0 196,442
Sales revenue total 957,506 1,360,901 1,096,816 904,280 1,196,063
Costs and expensesVariable production costs 247,529 745,164 272,597 207,028 477,602Feature costs 100,386 204,537 108,152 121,727 310,060Contract manufacturing costs 132,936 179,829 192,141 0 0Transportation and tariffs 38,177 5,455 26,909 77,721 88,902R&D 0 75,625 37,028 17,393 0Promotion 13,500 0 50,000 12,000 26,000Administration 65,553 58,141 44,171 46,946 61,211Costs of imported products 99,074 8,012 34,567 164,033 108,421Costs and expenses total 697,156 1,276,763 765,565 646,849 1,072,196
OPERATING PROFIT BEFORE DEPR. (EBITDA) 260,350 84,138 331,251 257,431 123,867Depreciation from fixed assets 234,445 146,985 82,391 81,205 199,312
OPERATING PROFIT (EBIT) 25,906 -62,847 248,860 176,226 -75,445Net financing expenses -28,730 -39,169 -19,348 52,417 -29,429
PROFIT BEFORE TAXES 54,636 -23,678 268,208 123,808 -46,016Income taxes 12,020 0 45,338 19,011 0
PROFIT FOR THE ROUND 42,616 -23,678 222,870 104,798 -46,016
Balance sheet, k USD, Asia
Company 1 Company 2 Company 3 Company 4 Company 5
ASSETSFixed assets 1,328,520 832,913 466,882 460,164 1,129,436Inventory 99,769 72,418 51,450 0 20,365Receivables 36,047 39,544 34,830 34,815 38,485Cash and cash equivalents 456,629 1,113,662 681,929 2,000 656,251Total assets 1,920,963 2,058,538 1,235,092 496,979 1,844,537
SHAREHOLDERS' EQUITY AND LIABILITIESEquityShare capital 20,000 20,000 20,000 20,000 20,000Profit for the round 42,616 -23,678 222,870 104,798 -46,016Retained earnings 1,363,365 743,519 694,130 174,451 761,805Total equity 1,425,981 739,841 936,999 299,249 735,789 LiabilitiesShort-term debts (unplanned) 0 0 0 47,080 0Internal loans 475,000 1,275,000 275,000 135,000 1,075,000Payables 19,983 43,697 23,092 15,649 33,748Total liabilities 494,983 1,318,697 298,092 197,730 1,108,748
Total shareholders' equity and liabilities 1,920,963 2,058,538 1,235,092 496,979 1,844,537
Profit and Loss statement, k USD, Europe
Company 1 Company 2 Company 3 Company 4 Company 5
Sales revenueSales revenue 291,792 444,834 912,229 398,359 978,419
Costs and expensesFeature costs 18,463 23,228 55,499 39,567 187,169Transportation and tariffs 14,015 12,611 31,940 20,243 33,702Promotion 10,000 1,100 100,000 8,000 66,000Administration 10,000 10,000 10,000 10,000 10,000Costs of imported products 104,072 365,375 344,791 135,004 253,960Costs and expenses total 156,549 412,314 542,229 212,813 550,832
OPERATING PROFIT BEFORE DEPR. (EBITDA) 135,243 32,520 369,999 185,545 427,587Depreciation from fixed assets 0 0 0 0 0
OPERATING PROFIT (EBIT) 135,243 32,520 369,999 185,545 427,587Net financing expenses -2,311 -529 -2,753 -661 -3,131
PROFIT BEFORE TAXES 137,554 33,049 372,752 186,206 430,718
Income taxes 42,642 10,245 115,553 57,724 133,523
PROFIT FOR THE ROUND 94,912 22,804 257,199 128,482 297,196
Balance sheet, k USD, Europe
Company 1 Company 2 Company 3 Company 4 Company 5
ASSETSFixed assets 0 0 0 0 0Receivables 11,234 17,126 35,121 15,337 37,669Cash and cash equivalents 507,145 110,950 671,648 100,464 622,231Total assets 518,379 128,076 706,769 115,801 659,900
SHAREHOLDERS' EQUITY AND LIABILITIESEquityShare capital 20,000 20,000 20,000 20,000 20,000Profit for the round 94,912 22,804 257,199 128,482 297,196Retained earnings 822,216 803,893 846,204 1,035,016 1,454,201Total equity 937,128 846,697 1,123,403 1,183,499 1,771,397
LiabilitiesShort-term debts (unplanned) 0 0 0 0 0Internal loans -420,000 -720,000 -420,000 -1,070,000 -1,120,000Payables 1,250 1,380 3,366 2,303 8,504Total liabilities -418,750 -718,620 -416,634 -1,067,697 -1,111,496
Total shareholders' equity and liabilities 518,379 128,076 706,769 115,801 659,900
Ratios and key financial indicators
Ratios Company 1 Company 2 Company 3 Company 4 Company 5
Market capitalization of the company, k USD 4,765,493 3,860,778 8,814,385 3,543,696 13,166,885Shares outstanding at the end of round, k shares 30,000 30,000 30,000 31,500 30,000Share price at the end of round, USD 159 129 294 113 439Average trading price during the round, USD 278 144 157 125 455Dividend yield, % 0 0 0 0 0.23P/E ratio 244 n/a 18.24 n/a 38.76Cumulative total shareholder return (p.a.), % -2.77 -5.65 6.34 -7.44 12.71
Key financial indicators, %Company 1 Company 2 Company 3 Company 4 Company 5
Operating profit before depreciation (EBITDA) 28.42 3.51 33.28 25.40 25.99Operating profit (EBIT) 7.39 -7.02 27.71 15.16 16.74Return on sales (ROS) 1.13 -17.60 20.73 -22.34 12.73Equity ratio 62.92 27.72 79.03 n/a 83.74Net debt to equity (gearing) 16.43 90.64 -49.18 n/a -49.30Return on capital employed (ROCE) 3.49 -4.80 26.20 12.31 13.52Return on equity (ROE) 0.83 -36.83 26.27 n/a 12.17Earnings per share (EPS), USD 0.65 -11.36 16.11 -12.32 11.32
Market report, globalGlobal market shares, %
Company 1 Company 2 Company 3 Company 4 Company 5Total 19.30 21.01 18.36 18.33 23
Tech 1 22.36 20.86 11.91 22.09 22.78Tech 2 25.56 8.76 7.20 23.21 35.27Tech 3 0 40.64 59.36 0 0Tech 4 0 100 0 0 0
Market report, USA
Company 1 Company 2 Company 3 Company 4 Company 5Tech 1
Selling Price, USD 150 160 150 166 210Number of offered features 3 6 4 4 7Sales, k units 940 775 1,155 790 889Demand, k units 940 775 1,155 790 889 Tech 2 Selling Price, USD 200 200 230 275Number of offered features 2 4 3 10Sales, k units 1,803 1,706 1,321 1,829Demand, k units 1,803 1,706 1,321 1,829 Tech 3 Selling Price, USD 280Number of offered features 4Sales, k units 1,220Demand, k units 1,220 Tech 4 Selling Price, USDNumber of offered featuresSales, k unitsDemand, k units
USA market shares, % Company 1 Company 2 Company 3 Company 4 Company 5Total 22.07 19.96 19.11 16.99 21.87 Tech 1 20.66 17.03 25.39 17.37 19.55Tech 2 27.08 25.61 0 19.84 27.47Tech 3 0 0 100 0 0Tech 4 0 0 0 0 0
Market report, Asia
Company 1 Company 2 Company 3 Company 4 Company 5Tech 1Selling Price, RMB 1,299 1,200 1,700 1,290 1,420Number of offered features 3 6 4 4 7Sales, k units 3,980 3,763 1,734 3,980 3,488Demand, k units 3,980 3,763 1,734 3,980 3,488
Tech 2Selling Price, RMB 1,750 1,790 1,850Number of offered features 2 2 10Sales, k units 2,396 2,183 2,726Demand, k units 2,396 2,183 2,726
Tech 3Selling Price, RMB 1,500 2,200Number of offered features 3 4Sales, k units 3,837 2,772Demand, k units 8,311 5,885
Tech 4Selling Price, RMBNumber of offered featuresSales, k unitsDemand, k units
Asia market shares, %Company 1 Company 2 Company 3 Company 4 Company 5
Total 20.66 24.63 14.60 19.97 20.14
Tech 1 23.48 22.21 10.23 23.49 20.59Tech 2 32.80 0 0 29.89 37.31Tech 3 0 58.06 41.94 0 0Tech 4 0 0 0 0 0
Market report, Europe
Company 1 Company 2 Company 3 Company 4 Company 5Tech 1Selling Price, EUR 99 100 113 115Number of offered features 3 6 6 7Sales, k units 507 525 592 1,150Demand, k units 507 525 592 1,150
Tech 2Selling Price, EUR 199 170 210 240Number of offered features 2 2 3 10Sales, k units 779 1,402 1,015 2,314Demand, k units 779 1,402 1,015 2,314 Tech 3Selling Price, EUR 250Number of offered features 4Sales, k units 1,612Demand, k units 1,723 Tech 4Selling Price, EUR 360Number of offered features 1Sales, k units 723Demand, k units 723
Europe market shares, %Company 1 Company 2 Company 3 Company 4 Company 5
Total 12.11 11.75 28.38 15.13 32.63
Tech 1 18.27 18.92 0 21.33 41.48Tech 2 14.13 0 25.44 18.42 42Tech 3 0 0 100 0 0Tech 4 0 100 0 0 0
Production report
In-house manufacturing, k unitsCompany 1 Company 2 Company 3 Company 4 Company 5
USATech 1 7,013 3,267 4,620Tech 2 2,338 792 1,980Tech 3Tech 4
AsiaTech 1 6,435 3,630 1,078 3,388 1,320Tech 2 715 880 5,280Tech 3 2,360 2,772Tech 4
Contract manufacturing, k unitsUSATech 1Tech 2 1,778Tech 3Tech 4 AsiaTech 1 432Tech 2 750Tech 3 1,459Tech 4
Capacity usage, %USATech 1 75 33 70Tech 2 25 8 30Tech 3Tech 4Free capacity 0 100 100 59 0 AsiaTech 1 90 60 28 77 20Tech 2 10 20 80
Tech 3 39 72Tech 4Free capacity 0 1 0 3 0
Inventory, k unitsUSATech 1 9,833 2,123 2,967 5,913 412Tech 2 603 572 640 4,440 151Tech 3 0 0 0 0 0Tech 4 0 0 0 0 0
AsiaTech 1 2,381 0 0 0 0Tech 2 0 0 375 0 240Tech 3 0 0 0 0 0Tech 4 0 157 0 0 0
Inventory management costs, k USD 9,590 5,592 8,084 13,358 446
Origin of products sold in USA, k unitsUSA 2,743 2,481 2,375 2,112 2,719Asia
Origin of products sold in Asia, k unitsUSA 931 133 656 1,896 2,168Asia 5,445 7,467 3,850 4,268 4,046
Origin of products sold in Europe, k unitsUSA 779 525 1,612 1,607 1,150Asia 507 723 1,402 2,314
Number of plants this roundUSA 17 13 12 18 12Asia 13 11 7 8 12
Number of plants next roundUSA 17 13 10 16 13Asia 13 11 7 6 14
Number of plants after next roundUSA 17 13 10 16 13Asia 13 11 7 6 14
Cost report
LogisticsCompany 1 Company 2 Company 3 Company 4 Company 5
Average logistics cost per sold product, USDProducts sold in USA 0 0 0 0 0Products sold in Asia 5.99 0.72 5.97 12.61 14.31Products sold in Europe 10.90 10.11 10.60 12.60 9.73
Production cost per unit, USDUSATech 1 49.75 52.90 50Tech 2 112 87.07 87.38Tech 3Tech 4 AsiaTech 1 37.42 42.60 41.57 39.90 37.72Tech 2 126 81.66 84.88Tech 3 124 82.17Tech 4
Contract manufacturing cost per unit, USDUSATech 1Tech 2 98.82Tech 3Tech 4 AsiaTech 1 109Tech 2 136Tech 3 96.56Tech 4
Average unit cost per sold product, USDUSATech 1 51.05 60.22 52.67 55.73 50.00Tech 2 106 115 101 87.38Tech 3 94.72 Tech 4 Weighted average 87.43 98.05 74.26 83.76 75.15
AsiaTech 1 41.91 43.23 45.77 42.25 45.35Tech 2 122 92.92 84.88Tech 3 114 82.17 Tech 4 Weighted average 71.88 78.84 68.16 60.20 62.69
EuropeTech 1 41.91 60.22 55.73 50.00Tech 2 106 137 101 84.88Tech 3 94.72 Tech 4 462 Weighted average 80.98 293 114 84.03 73.30
Production scrap, %USATech 1 1.20 1.26 1.21Tech 2 1.67 1.40 1.41Tech 3Tech 4 AsiaTech 1 1.68 1.88 1.83 1.81 1.69Tech 2 2.94 2.18 2.20Tech 3 3.77 2.86Tech 4
Logistics details
Tech 1, k unitsCompany 1 Company 2 Company 3 Company 4 Company 5
USA Beginning inventory 3,761 3,556 4,779 4,621 0Production 7,013 0 0 3,267 4,620Contract manufacturing 0 0 0 0 0Imported from Asia 0 0 0 0 0Total products 10,774 3,556 4,779 7,888 4,620Sales in USA -940 -775 -1,155 -790 -889Exported to Asia 0 -133 -656 -592 -2,168Exported to Europe 0 -525 0 -592 -1,150Ending inventory 9,833 2,123 2,967 5,913 412Unsatisfied demand 0 0 0 0 0
Asia Beginning inventory 0 0.00 0 0 0Production 6,435 3,630 1,078 3,388 1,320Contract manufacturing 432 0 0 0 0Imported from USA 0 133 656 592 2,168Total products 6,867 3,763 1,734 3,980 3,488Sales in Asia -3,980 -3,763 -1,734 -3,980 -3,488Exported to USA 0 0 0 0 0Exported to Europe -507 0 0 0 0Ending inventory 2,381 0 0 0 0Unsatisfied demand 0 0 0 0 0
Europe Imported from USA 0 525 0 592 1,150Imported from Asia 507 0 0 0 0Total products 507 525 0 592 1,150Sales in Europe -507 -525 0 -592 -1,150Unsatisfied demand 0 0 0 0 0
Tech 2, k unitsCompany 1 Company 2 Company 3 Company 4 Company 5
USA Beginning inventory 0 2,278 640 7,288 0
Production 2,338 0 0 792 1,980Contract manufacturing 1,778 0 0 0 0Imported from Asia 0 0 0 0 0Total products 4,116 2,278 640 8,080 1,980Sales in USA -1,803 -1,706 0 -1,321 -1,829Exported to Asia -931 0 0 -1,303 0Exported to Europe -779 0 0 -1,015 0Ending inventory 603 572 640 4,440 151Unsatisfied demand 0 0 0 0 0
Asia Beginning inventory 0 0 1,777 0 0Production 715 0 0 880 5,280Contract manufacturing 750 0 0 0 0Imported from USA 931 0 0 1,303 0Total products 2,396 0 1,777 2,183 5,280Sales in Asia -2,396 0 0 -2,183 -2,726Exported to USA 0 0 0 0 0Exported to Europe 0 0 -1,402 0 -2,314Ending inventory 0 0 375 0 240Unsatisfied demand 0 0 0 0 0
Europe Imported from USA 779 0 0 1,015 0Imported from Asia 0 0 1,402 0 2,314Total products 779 0 1,402 1,015 2,314Sales in Europe -779 0 -1,402 -1,015 -2,314Unsatisfied demand 0 0 0 0 0
Tech 3, k unitsCompany 1 Company 2 Company 3 Company 4 Company 5
USA Beginning inventory 0 2,832 Production 0 0 Contract manufacturing 0 0 Imported from Asia 0 0 Total products 0 2,832 Sales in USA 0 -1,220 Exported to Asia 0 0 Exported to Europe 0 -1,612 Ending inventory 0 0.00 Unsatisfied demand 0 0
Asia Beginning inventory 18.57 0 Production 2,360 2,772 Contract manufacturing 1,459 0 Imported from USA 0 0 Total products 3,837 2,772 Sales in Asia -3,837 -2,772 Exported to USA 0 0 Exported to Europe 0 0 Ending inventory 0 0 Unsatisfied demand 4,474 3,113
Europe Imported from USA 0 1,612 Imported from Asia 0 0 Total products 0 1,612 Sales in Europe 0 -1,612 Unsatisfied demand 0 112
Tech 4, k unitsCompany 1 Company 2 Company 3 Company 4 Company 5
USA Beginning inventory 0 Production 0 Contract manufacturing 0 Imported from Asia 0 Total products 0 Sales in USA 0 Exported to Asia 0 Exported to Europe 0 Ending inventory 0 Unsatisfied demand 0
Asia Beginning inventory 880
Production 0 Contract manufacturing 0 Imported from USA 0 Total products 880 Sales in Asia 0 Exported to USA 0 Exported to Europe -723 Ending inventory 157 Unsatisfied demand 0
Europe Imported from USA 0 Imported from Asia 723 Total products 723 Sales in Europe -723 Unsatisfied demand 0
Cost report – Transportation cost incl. tariffs per sold product, USD
Company 1 Company 2 Company 3 Company 4 Company 5USA Tech 1 0 0 0 0 0Tech 2 0 0 0 0Tech 3 0 Tech 4 Asia Tech 1 0 1.45 15.52 6.10 25.49Tech 2 15.93 24.48 0Tech 3 0 0 Tech 4 Europe Tech 1 8.30 12.60 12.60 12.60Tech 2 12.60 8.30 12.60 8.30Tech 3 12.60 Tech 4 8.30
