1. Financial Analysis of The “Voda Vrnjci” company
Uros Granic 353/10

2. Summary
Balance sheet Income statement Liquidity Turnover Leverage Profitability Benchmarking

3. Balance sheet of “Voda Vrnjci”
Name (dinars)
Total Assets
1,584,936,000
1,752,470,000
Fix Assets
1,018,957,000
1,093,586,000
Current Assets
565,979,000
626,407,000
-Inventory
186,913,000
191,002,000
-Account receivable
317,389,000
361,697,000
-Cash
61,677,000
73,708,000
Name (dinars)
Total Liabilities
1,584,936,000
1,752,470,000
Capital
1,067,746,000
1,178,154,000
Liabilities
517,190,000
524,327,000
-Current liabilities
415,305,000
426,756,000

4. Income Statement Name (dinars) 31.12.2011 31.12.2012 Total Revenue
1,499,764,000
1,738,823,000
-Income sales
1,503,342,000
1,698,995,000
Total costs
1,410,142,000
1,683,240,000
-Material costs
756,032,000
801,771,000
Profit
89,622,000
55,583,000

5. Liquidity
Basic Ratio = 626,407,000/426,756,000 = 1.46:1 ( Current Assets/Current liabilities ) Quick Ratio = 435,405,000/426,756,000 = 1.02:1 (liquid assets/current liabilities) Average daily expenses = 4,358,936 dinars/day Defensive Ratio shows us that company can pay daily expenses from their own assets for 99.8 days. Net current assets = 626,407, ,756,000=199,651,000 din (Current Assets – Current liabilities)

6. Turnover Ratio Accounts receivable turnover
Average accounts receivable = 344,893,000 din
Net sales = 470,626,000 din
ART= Aar/Ns : 1
In average needs 268 days for accounts receivable turnover.
The Inventory turnover ratio
Cost of goods sold = 1,228,369,000 din
Average inventory = 188,938,666 din
ITR=cogs/ai : 1
Net sales provide 45% of total operating funds

7. Leverage Relation between own and borrowed source - 0.4:1
Relation between long-term debt and own source – 7%
Relatio between short-term debt and own source – 36%

8. Profitability EBIT margin =11.8% Net profit rate = 4.8%
Return on assets ( ROA ) = 0.31 %
Return on equity ( ROE ) = 2%
DuPont analysis
SSPS= 7%

9. Benchmarking 41% 14.9% 5% Indicators “Voda Vrnjci” “Knjaz Milos”
Quick ratio
1.02 : 1
0.22 : 1
Acc. receivable turnover
1.36 : 1
0.41 : 1
Leverage (short-term)
36%
41%
EBIT margin
11.8%
14.9%
ROE 2% 5%