INVESTMENT PORTFOLIO – CINKARNA CELJE
COMPANY NAME: CINKARNA, Metalurško-kemična Industrija Celje, d.d. INDUSTRY: Chemicals, titanium dioxide
ADDRESS: Kidričeva 26, 3001 Celje, Slovenia
WEB ADDRESS: www.cinkarna.si
TELEPHONE: +386 3 427 60 00
E-MAIL: info@cinkarna.si
Short description + Markets
Cinkarna Celje core business is production and marketing of titanium dioxide pigment. It is a joint stock enterprise employing around 900 people and generating around 150 million euros in sales revenues per annum, with exports into demanding global markets accounting for more than 80 percent of this total.
Financial indicators
| Income statement (in € ‚000) | 2018 | 2019 | 2020 |
|---|---|---|---|
| Revenues | 170.403 | 181.471 | 177.596 |
| EBITDA | 48.799 | 37.015 | 32.876 |
| EBIT | 36.408 | 25.727 | 22.526 |
| Net Income | 30.558 | 21.436 | 18.951 |
| Balance Sheet | 2018 | 2019 | 2020 |
| Total assets | 213.954 | 207.807 | 210.336 |
| Equity | 173.925 | 170.343 | 174.016 |
| Financial Debt | 71 | 45 | 60 |
| Net Debt/EBITDA | 0.0 | 0.0 | 0.0 |
| 2018 | 2019 | 2020 | |
|---|---|---|---|
| Number of employees (average) | 876 | 875 | 838 |
Strategy Indicators
| 2020 | |
|---|---|
| Growth of total revenue last year compared to the previous year in % | -2.0% |
| Growth of sales compared to the previous year | 0% |
| Sales on EU market (% of totale sales) | 76% |
| Sales on non EU market (% of totale sales) | 15% |
| Sales on GB market (% of totale sales) | n/a |
| The percentage of sales generated by the top 10 customers | n/a |
| The percentage of the 3 largest customer‘s revenue in total revenue | n/a |
| Growth of product/service with the largest share in sales | n/a |
| Growth of product/service with the largest share in revenue | n/a |
| The percentage of investments in revenue in last year | 6.9% |
Strategy & Plans
The main goal is to maintain long-term relationships with existing customers and gain new customers through the development of products with higher added value based on achieving the required higher quality levels and a reasonable offer of speed, flexibility and quality in relation to price. The focus of sales will continue mainly on European markets.
In the new five-year strategic period 2019-2023, which also takes into account economic fluctuations, average sales revenues of EUR 190.8 million and an average annual revenue growth of 2.3% are planned.
With the aim of increasing sales, the company will, through prudent investments in the renovation, optimization and expansion of existing production facilities from 2018 onwards on average invest EUR 13.4 million per year in fixed assets and EUR 2.1 million in current assets, which will enable it to achieve the set organic growth. Most of the invested funds will focus on the growth and development of a nuclear titanium dioxide pigment program.
Key Facts
- Cinkarna Celje plans to generate in 2021 net sales of € 165,9 million and a net profit of € 10,6 million. It should be emphasized that it is non-traditional high demand in the last quarter of 2020 helped exceed the sales plan. Good demand for pigment is also noticeable at the beginning of the year 2021.
- Company is listed on Ljubljana Stock Exchange. Stock price on 31.12.2020 was 178 EUR and Market Cap was 144 mio EUR. Company paid a strong dividend in 2021 of 21 EUR per share.
Top 10 shareholder structure (15.10.2021)
| Shareholder name – regular shares | Number od shares | Stake |
|---|---|---|
| MODRA ZAVAROVALNICA, D.D. | 162.963 | 20,17% |
| DUTB D.D. | 104.504 | 12,93% |
| SDH D.D. | 92.950 | 11,59% |
| UNICREDIT BANK AUSTRIA AG – FIDUCIARY | 4,54% | |
| TR5 D.O.O. | 3,03% | |
| CINKARNA CELJE D.D. | 2,69% | |
| RAIFFEISEN BANK AUSTRIA D.D. – FIDUCIARY | 2,31% | |
| KRITNI SKLAD PRVEGA POKOJNINSKEGA SKLADA | 2,07% | |
| NLB SKLADI – SLOVENIJA MEŠANI | 1,47% | |
| GENERALI GALILEO, MEŠANI FLEKSIBILNI SKL. | 1,34% |