Comvita Limited (NZX:CVT) Annual Report 2021



The latest annual report of Comvita Limited (CVT) was published on 30 Jun 2021. An annual report is a document that public corporations must provide annually to shareholders that describes their operations and financial conditions. Typically, an annual report will contain sections such as General corporate information, Operating and Financial highlights, Letter to shareholders from the CEO, Financial statements etc.

Key Statistics - CVT Annual Results

Amounts in NZD

Total Revenue
191.73M
Gross Profit
103.42M
EBIT
12.53M
Net Tangible Assets
183.83M
Net Income
9.48M
Capital Expenditures
-10.6M

CVT Income Statement 2021 Annual Report

As per the latest Income Statement of CVT, the Net revenue decreased by $-4.18M (-2%) compared to the previous period. The operating income in 2021 increased by $9.97M (389%). The net income as per the annual report was 9.48M which increased by $19.18M (198%) compared to previous year.

Income Statement Report (2021/2020)

20212020
Total Revenue191.73M195.91M
Gross Profit103.42M91.31M
Operating Income12.53M2.56M
Income Before Tax13.4M-10.26M
Net Income9.48M-9.7M

Balance Sheet - CVT 2021 Annual Report

Read further: CVT Balance Sheet Detailed Analysis

The latest balance sheet from annual result of Comvita Limited showed the company reduced the cash on balance sheet by $-413000 (-2%). The Net tangible assets of CVT on the balance sheet were at 183.83M which is $11.55M (7%) more than previous annual report. The total stockholder equity also increased by $10.13M (5%) compared to previous reporting period.

Balance Sheet Statement Report (2021/2020)

20212020
Cash16.27M16.68M
Total Assets286.61M 286.42M
Long Term Debt20.85M32.2M
Total Liabilities64.73M 74.67M
Total Shareholder Equity221.88M211.75M
Net Tangible Assets183.83M172.28M

Cash Flow Statement - CVT 2021 Annual Report

The 2021 annual cash flow statement of Comvita Limited showed that the net income increased by $19.18M (198%) compared to previous reporting period. Also the capital expenditure of CVT decreased by $-5.39M (-104%).

As of 2021, the total cash from investing activities was -9.28M and total cash from financing activities was -16.17M.

Cash Flow Statement Report (2021/2020)

20212020
Net Income9.48M-9.7M
Capital Expenditures-10.6M-5.21M
Dividends Paid--
Total Cash From From Investing Activities-9.28M-9.69M
Total Cash From From Financing Activities-16.17M-23.27M

Comvita Limited Annual Report History

Income Statement

Income Statement history of Comvita Limited (NZX:CVT)

30 Jun 202130 Jun 202030 Jun 201930 Jun 2018
Total Revenue191.73M195.91M171.1M178.49M
Cost Of Revenue88.31M104.6M107.34M105.3M
Gross Profit103.42M91.31M63.76M73.19M
Research Development--1.69M3.12M
Selling General Administrative93.6M87.76M70.3M61.84M
Non Recurring----
Other Operating Expenses-2.79M-862k-1.33M-1.13M
Total Operating Expenses179.2M193.35M178.02M169.2M
Operating Income12.53M2.56M-6.92M9.29M
Total Other Income Expense Net869k-12.82M-24.2M1.85M
Ebit12.53M2.56M-6.92M9.29M
Interest Expense-2.25M-4.68M-4.78M-3.85M
Income Before Tax13.4M-10.26M-31.12M11.14M
Income Tax Expense3.92M-557k-3.41M2.93M
Minority Interest----
Net Income From Continuing Ops9.48M-9.7M-27.72M8.21M
Discontinued Operations----
Extraordinary Items----
Effect Of Accounting Charges----
Other Items----
Net Income9.48M-9.7M-27.72M8.21M
Net Income Applicable To Common Shares9.48M-9.7M-27.72M8.21M

Balance Sheet Statement

Balance Sheet Statement history of Comvita Limited (NZX:CVT)

30 Jun 202130 Jun 202030 Jun 201930 Jun 2018
Cash16.27M16.68M10.31M4.95M
Net Receivables32.68M25.13M44.33M73.16M
Inventory101.01M112.68M132.19M116.49M
Total Current Assets154.31M160.57M191.83M199.71M
Long Term Investments6.85M6.27M12.4M30.63M
Property Plant Equipment76.38M68.28M56.92M47.51M
Good Will27.6M27.74M27.84M28.48M
Intangible Assets10.45M11.73M13.24M4.92M
Other Assets11.02M11.84M10.8M7.32M
Deferred Long Term Asset Charges7.21M8.04M6.76M2.99M
Total Assets286.61M286.42M313.04M318.57M
Accounts Payable8.84M10.45M14.11M14.44M
Other Current Liab3.58M2.05M8.83M4.78M
Long Term Debt20.85M32.2M99.25M96.7M
Other Liab2.5M2.61M3.77M407k
Total Current Liabilities31.43M31.98M36.67M31.77M
Total Liab64.73M74.67M139.69M128.88M
Common Stock201.84M200.1M151.25M137.74M
Retained Earnings26.11M18.62M28.3M55.95M
Treasury Stock-6.07M-6.98M-6.19M-4.01M
Other Stockholder Equity-6.07M-6.98M-6.19M-4.01M
Total Stockholder Equity221.88M211.75M173.35M189.69M
Net Tangible Assets183.83M172.28M132.27M156.29M

Cash Flow Statement

Cash Flow Statement history of Comvita Limited (NZX:CVT)

30 Jun 202130 Jun 202030 Jun 201930 Jun 2018
Net Income9.48M-9.7M-27.72M8.21M
Depreciation9.9M10.03M4.75M4.46M
Change To Netincome-553k8.1M11.98M608k
Change To Account Receivables-5.8M13.15M24.93M-11.8M
Change To Liabilities-2.91M-5.44M4M3.54M
Change To Inventory11.67M19.51M-15.7M-28.64M
Change To Operating Activities1.66M2.2M17.97M-2.37M
Total Cash From Operating Activities24.82M39.3M21.09M-22.12M
Capital Expenditures-10.6M-5.21M-16.12M-4.74M
Investments759k759k-5.99M235k
Other Cashflows From Investing Activities459k-1.85M-1M-2.19M
Total Cashflows From Investing Activities-9.28M-9.69M-17.7M-6.99M
Net Borrowings-14.91M-70.91M2.55M30.2M
Total Cash From Financing Activities-16.17M-23.27M2.24M29.38M
Effect Of Exchange Rate210k33k-254k105k
Change In Cash-413k6.37M5.37M375k
Repurchase Of Stock-1.26M-572k-572k-572k
Dividends Paid---918k-1.84M