Jeronimo Martins Polska and Decathlon are Kubota's contractors
As of June 30 this year, the company's balance sheet total amounted to PLN 9,207,783.97. The dominant value of assets were short-term receivables in the amount of PLN 4,654,412.86. The vast majority of the balance is
receivables from Jeronimo Martins Polska, the company's main contractor. According to the agreement between the parties, the payment term is set at 60 days.
The balance also includes a receivable from Decathlon, which will be settled in the next quarter according to the payment deadline. The second largest asset item was cash worth PLN 2,801,845.62. The third largest asset item was the inventory of goods (PLN 1,171,789.50) together with the recognition of amounts related to the settlement of the contract purchase of goods – we read in the report of the clothing company.
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Kubota boasts full cash. Less dependent on Biedronka
In its own warehouse, the company also presents goods located in the external FBA Amazon warehouse and goods placed on commission. The stored goods mainly include flip-flops and clothing.
Operating costs at a stable level
Kubota SA, in addition to equity, has access to debt financing for use within current operating activities. The company has two bank loans in current accounts, the total available limit of which is PLN 2,800,000.00. During the second quarter of 2024, the entity did not use the available credit lines – we read in the company's report.
In Q2 2024, the company incurred operating costs of PLN 5,214,864.80, which were at a comparable level to Q2 2023 (change of -1.21%). Due to the specific nature of the business, the main category of costs includes the value of
sold goods and materials and external services, which in Q2 2024 amounted to PLN 2,683,158.81 and PLN 2,159,595.24, respectively.
Gross profit for Q2 2024 amounted to PLN 81,021.28, while during the first half of this year the company generated a gross result of PLN 521,249.41.
