Colabor Group Inc EBITDA dropped on 152% in 2015 and EBITDA Margin decreased on 2.4 pp from 1.6% to -0.83%
17.03.2016 • About Colabor Group Inc (
$GCL) • By InTwits
Colabor Group Inc reported FY2015 financial results today. Overall the company's long term financial model is characterised by the following facts:
- Colabor Group Inc doesn't have a profitable business model yet: FY2015 ROIC is -11.5%
- EBITDA Margin is declining: -0.8% in FY2015 vs. 1.6% in FY2014 vs. 2.6% in FY2011
- EBITDA Margin is quite volatile: -0.8% in FY2015, 1.6% in FY2014, 2.4% in FY2013, 2.7% in FY2012, 2.6% in FY2011
- Colabor Group Inc has low CAPEX intensity: 5 year average CAPEX/Revenue was 0.2%.
- The company has unprofitable business model: ROIC is at -11.5%
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Colabor Group Inc ($GCL) key annual financial indicators
| mln. CAD | 2011 | 2012 | 2013 | 2014 | 2015 | 2015/2014 |
|---|
P&L
|
|---|
| Revenue | 1,313 | 1,467 | 1,439 | 1,432 | 1,391 | -2.9% |
| Gross Profit | 1,309 | | | | | |
| EBITDA | 35 | 39 | 34 | 22 | -12 | -151.7% |
| Net Income | 7 | 3 | -7 | -67 | -34 | -49.8% |
Balance Sheet
|
|---|
| Cash | 0 | 0 | 0 | 0 | 0 | |
| Short Term Debt | 10 | 6 | 7 | 15 | 6 | -63.2% |
| Long Term Debt | 61 | 61 | 62 | 91 | 181 | 98.1% |
Cash flow
|
|---|
| Capex | 4 | 3 | 5 | 2 | 2 | 6.9% |
Ratios
|
|---|
| Revenue growth | 24.8% | 11.7% | -1.9% | -0.5% | -2.9% | |
| EBITDA growth | -3.4% | 13.1% | -13.0% | -34.1% | -151.7% | |
| Gross Margin | 99.7% | | | | | 0.0% |
| EBITDA Margin | 2.6% | 2.7% | 2.4% | 1.6% | -0.8% | -2.4% |
| Net Income Margin | 0.5% | 0.2% | -0.5% | -4.7% | -2.4% | 2.3% |
| CAPEX, % of revenue | 0.3% | 0.2% | 0.3% | 0.1% | 0.1% | 0.0% |
| ROIC | 6.7% | 8.3% | 6.2% | 1.4% | -11.5% | -12.9% |
| ROE | 3.7% | 1.7% | -4.1% | -49.0% | -40.2% | 8.8% |
| Net Debt/EBITDA | 2.0x | 1.7x | 2.0x | 4.7x | | -4.7x |
Revenue and profitability
Colabor Group Inc's Revenue decreased on 2.9% in FY2015. Having declining revenue the company managed to increase EBITDA margin. EBITDA Margin increased slightly on 0.57 pp from 7.2% to 7.8% in 2015.
Net Income marign increased on 2.3 pp from -4.7% to -2.4% in FY2015.
Capital expenditures (CAPEX) and working capital investments
In FY2015 Colabor Group Inc had CAPEX/Revenue of 0.12%. CAPEX/Revenue showed almost no change from FY2012 to FY2015. Average CAPEX/Revenue for the last three years was 0.18%.
Return on investment
The company operates at negative ROIC (-11.51%) and ROE (-40.16%). ROIC dropped on 12.9 pp from 1.4% to -11.5% in FY2015. ROE increased on 8.8 pp from -49.0% to -40.2% in FY2015.
Leverage (Debt)
Company's Net Debt / EBITDA is 3.3x and Debt / EBITDA is . Net Debt / EBITDA dropped on 4.7x from 4.7x to in FY2015. Debt surged on 75.0% in FY2015 while cash didn't change in FY2015.
Appendix 1: Peers in Consumer, Cyclical
Below we provide Colabor Group Inc benchmarking against other companies in Consumer, Cyclical industry for the last 5 years. We show data for the top-5 companies by key financial metric together with the median value for all the companies in the industry.
Top companies by Revenue growth, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Restaurant Brands International Inc ($QSR) | | | | 4.6% | 238.0% |
| DHX Media Ltd ($DHX.A) | | 31.1% | 33.9% | 19.4% | 127.4% |
| Amaya Inc ($AYA) | | 311.5% | 85.2% | 254.0% | 113.8% |
| Hudson's Bay Co ($HBC) | | 3.5% | 5.9% | 28.1% | 56.4% |
| Exchange Income Corp ($EIF) | | 56.9% | -36.4% | 6.6% | 48.8% |
| |
|---|
| Median (59 companies) | -3.3% | 5.3% | 5.3% | 7.4% | 5.4% |
|---|
| Colabor Group Inc ($GCL) | | 11.7% | -1.9% | -0.5% | -2.9% |
Top companies by Gross margin, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Imvescor Restaurant Group Inc ($IRG) | 96.2% | 94.2% | 89.7% | 84.9% | 84.3% |
| Second Cup Ltd/The ($SCU) | 91.1% | 86.6% | 85.1% | 72.7% | 81.1% |
| New Look Vision Group Inc ($BCI) | 72.3% | 71.8% | 72.6% | 72.6% | 78.7% |
| Cara Operations Ltd ($CAO) | | | 79.2% | 78.9% | 78.4% |
| Air Canada ($AC) | 62.3% | 62.4% | 63.5% | 64.0% | 71.9% |
| |
|---|
| Median (52 companies) | 36.1% | 35.3% | 32.1% | 34.6% | 33.7% |
|---|
Top companies by EBITDA margin, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Westshore Terminals Investment Corp ($WTE) | | 49.7% | 65.9% | 60.9% | 59.6% |
| Gamehost Inc ($GH) | 44.2% | 46.1% | 45.7% | 45.9% | 42.8% |
| Great Canadian Gaming Corp ($GC) | 34.1% | 16.8% | 41.1% | 40.1% | 36.6% |
| Imvescor Restaurant Group Inc ($IRG) | 26.5% | 27.9% | 27.3% | 25.5% | 35.9% |
| Whistler Blackcomb Holdings Inc ($WB) | 34.8% | 36.0% | 35.9% | 36.4% | 35.4% |
| |
|---|
| Median (55 companies) | 8.7% | 8.1% | 9.8% | 10.1% | 10.1% |
|---|
| Colabor Group Inc ($GCL) | 2.6% | 2.7% | 2.4% | 1.6% | -0.8% |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Holloway Lodging Corp ($HLC) | 3.4% | 8.2% | 6.7% | 14.8% | 26.7% |
| WestJet Airlines Ltd ($WJA) | 3.9% | 7.9% | 19.5% | 18.6% | 22.5% |
| Westshore Terminals Investment Corp ($WTE) | | 25.7% | 11.5% | 6.2% | 21.2% |
| Exchange Income Corp ($EIF) | 8.2% | 7.9% | 15.8% | 15.5% | 15.4% |
| Chorus Aviation Inc ($CHR.A) | 12.5% | 9.9% | 9.6% | 3.9% | 15.0% |
| |
|---|
| Median (59 companies) | 2.9% | 2.7% | 2.9% | 2.5% | 2.9% |
|---|
| Colabor Group Inc ($GCL) | 0.3% | 0.2% | 0.3% | 0.1% | 0.1% |
Top companies by ROIC, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Westshore Terminals Investment Corp ($WTE) | | 24.0% | 37.8% | 35.0% | 38.3% |
| BRP Inc/CA ($DOO) | | 29.8% | 26.8% | 32.3% | 35.3% |
| Cara Operations Ltd ($CAO) | | | | 24.7% | 35.1% |
| Jean Coutu Group PJC Inc/The ($PJC.A) | 33.5% | 34.4% | 29.8% | 29.2% | 30.2% |
| Dollarama Inc ($DOL) | 17.7% | 21.6% | 24.7% | 26.5% | 29.9% |
| |
|---|
| Median (59 companies) | 10.7% | 9.8% | 10.8% | 9.9% | 11.0% |
|---|
| Colabor Group Inc ($GCL) | 6.7% | 8.3% | 6.2% | 1.4% | -11.5% |
Top companies by Net Debt / EBITDA
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Holloway Lodging Corp ($HLC) | | | 5.8x | 8.4x | 17.1x |
| Discovery Air Inc ($DA.A) | 3.2x | 2.8x | 3.8x | 7.5x | 11.4x |
| AutoCanada Inc ($ACQ) | 1.9x | 4.2x | 4.7x | 6.4x | 8.0x |
| Second Cup Ltd/The ($SCU) | 0.6x | 1.0x | 0.6x | 0.0x | 7.5x |
| Amaya Inc ($AYA) | | 17.9x | 1.8x | 13.5x | 6.6x |
| |
|---|
| Median (51 companies) | 1.3x | 1.2x | 1.8x | 2.0x | 1.8x |
|---|
