Valeura Energy Inc reports 48.6 pp EBITDA Margin decline from 48.6% to in 2016
14.03.2017 • About Valeura Energy Inc (
$VLE) • By InTwits
Valeura Energy Inc reported FY2016 financial results today. Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Valeura Energy Inc ($VLE) key annual financial indicators
| mln. CAD | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
|---|
P&L
|
|---|
| Revenue | 22.330 | 19.093 | 22.049 | 19.461 | 14.053 | -27.8% |
| Gross Profit | 7.617 | 7.566 | 9.000 | 8.222 | | -100.0% |
| SG&A | | | | 6.298 | | -100.0% |
| EBITDA | -3.464 | -5.132 | 13.188 | 9.454 | | -100.0% |
| Net Income | -15.905 | -17.518 | 1.362 | -0.562 | -6.086 | |
Balance Sheet
|
|---|
| Cash | 29.031 | 6.511 | 5.928 | 6.973 | | -100.0% |
| Short Term Debt | 0.000 | 0.000 | 0.000 | 0.000 | | |
| Long Term Debt | 0.000 | 0.000 | 0.000 | 0.000 | | |
Cash flow
|
|---|
| Capex | 31.255 | 26.952 | 11.300 | 13.192 | | -100.0% |
Ratios
|
|---|
| Revenue growth | 49.0% | -14.5% | 15.5% | -11.7% | -27.8% | |
| EBITDA growth | -20.5% | 48.2% | -357.0% | -28.3% | | |
| Gross Margin | 34.1% | 39.6% | 40.8% | 42.2% | | -42.2% |
| EBITDA Margin | -15.5% | -26.9% | 59.8% | 48.6% | 0.0% | -48.6% |
| Net Income Margin | -71.2% | -91.8% | 6.2% | -2.9% | -43.3% | -40.4% |
| SG&A, % of revenue | | | | 32.4% | | -32.4% |
| CAPEX, % of revenue | 140.0% | 141.2% | 51.2% | 67.8% | | -67.8% |
| ROIC | -13.4% | -14.3% | 3.6% | 0.6% | | -0.6% |
| ROE | -16.5% | -20.2% | 1.8% | -0.7% | | 0.7% |
| Net Debt/EBITDA | | | -0.4x | -0.7x | | 0.7x |
Valeura Energy Inc ($VLE) key quoterly financial indicators
| mln. CAD | FY16Q1 | FY16Q2 | FY16Q3 | FY16Q4 | YoY change |
|---|
P&L
|
|---|
| Revenue | 4 | 4 | 3 | 3 | -37.0% | -13.4% | -17.8% | -20.4% |
| EBITDA | 2 | 2 | 1 | -0 | -52.6% | -34.2% | -54.6% | -127.4% |
| Net Income | -1 | -1 | -1 | -3 | -1,027.1% | | | -1,211.1% |
Balance Sheet
|
|---|
| Cash | 4 | 5 | 2 | 2 | -53.9% | -40.5% | -70.7% | -71.5% |
| Short Term Debt | 0 | 0 | 0 | 0 | | | | |
| Long Term Debt | 0 | 0 | 0 | 0 | | | | |
Ratios
|
|---|
| Gross Margin | 42.8% | 40.1% | 15.1% | 23.6% | -1.1% | -3.8% | -25.4% | -15.8% |
| EBITDA Margin | 44.8% | 43.4% | 24.9% | -11.9% | -14.8% | -13.7% | -20.2% | -46.5% |
| Net Income Margin | -24.9% | -14.6% | -38.7% | -98.2% | -26.6% | 0.9% | -34.5% | -105.2% |
Revenue and profitability
The company's Revenue dropped on 27.8%. Annual revenue decline showed slowdown in FY16Q4 - revenue dropped on 20.4%.
Net Income marign dropped on 40.4 pp from -2.9% to -43.3% in FY2016.
Appendix 1: Peers in Energy
Below you can find Valeura Energy Inc benchmarking vs. other companies in Energy industry. It's shown for the period of 5 years for the key financial metrics. Each table has median value for all the companies in the industry together with individual financial data of the top-5 companies in the industry by particular financial metric.
Top companies by Revenue growth, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Oryx Petroleum Corp Ltd ($OXC) | | | | -18.4% | 141.2% |
| Seven Generations Energy Ltd ($VII) | | 115.7% | 340.2% | 39.0% | 94.4% |
| Athabasca Oil Corp ($ATH) | | 342.7% | 5.5% | -22.9% | 73.1% |
| Painted Pony Petroleum Ltd ($PPY) | | 41.3% | 56.0% | -42.5% | 60.7% |
| ONEnergy Inc ($OEG) | | | 6,002.6% | 231.5% | 57.4% |
| |
|---|
| Median (116 companies) | | 16.2% | 17.0% | -29.5% | -18.0% |
|---|
| Valeura Energy Inc ($VLE) | | -14.5% | 15.5% | -11.7% | -27.8% |
Top companies by Gross margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Americas Petrogas Inc ($BOE) | 77.1% | 43.3% | -34.3% | 121.1% | |
| TransAlta Renewables Inc ($RNW) | | 94.4% | 94.5% | 94.5% | 91.1% |
| Serinus Energy Inc ($SEN) | 80.5% | 76.5% | 86.8% | 88.5% | |
| Advantage Oil & Gas Ltd ($AAV) | 62.0% | 84.5% | 92.5% | 88.5% | 90.3% |
| Polaris Infrastructure Inc ($PIF) | 39.9% | 33.6% | 32.0% | 86.7% | 88.6% |
| |
|---|
| Median (114 companies) | 32.0% | 32.1% | 32.2% | 33.6% | 32.0% |
|---|
| Valeura Energy Inc ($VLE) | 34.1% | 39.6% | 40.8% | 42.2% | |
Top companies by EBITDA margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Granite Oil Corp ($GXO) | 59.4% | 64.5% | 70.8% | 201.9% | |
| Perpetual Energy Inc ($PMT) | 35.5% | 70.7% | 58.0% | 110.3% | |
| Petro Rio SA ($PRJ) | -4,809.7% | -6,899.7% | 28.2% | 90.7% | |
| Peyto Exploration & Development Corp ($PEY) | 86.1% | 83.2% | 86.3% | 84.6% | 80.7% |
| Innergex Renewable Energy Inc ($INE) | 111.8% | 110.0% | 82.9% | 83.4% | 83.5% |
| |
|---|
| Median (128 companies) | 25.9% | 35.7% | 28.9% | 8.1% | 28.2% |
|---|
| Valeura Energy Inc ($VLE) | -15.5% | -26.9% | 59.8% | 48.6% | |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Oryx Petroleum Corp Ltd ($OXC) | | | 1,997.8% | 712.8% | |
| WesternZagros Resources Ltd ($WZR) | | | | 385.6% | |
| Athabasca Oil Corp ($ATH) | 2,426.4% | 596.6% | 504.7% | 315.2% | 83.7% |
| TORC Oil & Gas Ltd ($TOG) | 453.8% | 466.9% | 104.5% | 229.4% | 76.3% |
| Seven Generations Energy Ltd ($VII) | 452.8% | 513.1% | 227.4% | 191.2% | 73.5% |
| |
|---|
| Median (129 companies) | 42.3% | 39.0% | 45.0% | 27.6% | 23.0% |
|---|
| Valeura Energy Inc ($VLE) | 140.0% | 141.2% | 51.2% | 67.8% | |
Top companies by ROIC, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Enerplus Corp ($ERF) | -17.3% | 10.2% | 11.5% | -55.5% | 16.3% |
| Whitecap Resources Inc ($WCP) | 7.1% | 8.1% | 9.6% | -10.6% | 10.1% |
| Ecopetrol SA ($ECP) | 29.3% | 24.4% | 16.5% | 3.0% | 9.6% |
| Parkland Fuel Corp ($PKI) | 22.3% | 23.3% | 9.9% | 7.8% | 8.6% |
| Inter Pipeline Ltd ($IPL) | 9.5% | 8.0% | 7.5% | 9.6% | 8.5% |
| |
|---|
| Median (128 companies) | 3.9% | 5.8% | 5.7% | -8.5% | -1.9% |
|---|
| Valeura Energy Inc ($VLE) | -13.4% | -14.3% | 3.6% | 0.6% | |
Top companies by Net Debt / EBITDA
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| BlackPearl Resources Inc ($PXX) | -0.2x | -0.1x | 0.2x | 3,726.1x | -0.2x |
| Paramount Resources Ltd ($POU) | 14.6x | 23.9x | 8.9x | 421.5x | -5.8x |
| Precision Drilling Corp ($PD) | 2.2x | 1.9x | 2.0x | 68.4x | 7.6x |
| Trican Well Service Ltd ($TCW) | 2.5x | 3.4x | 2.9x | 31.4x | |
| Trilogy Energy Corp ($TET) | 2.6x | 1.8x | 2.3x | 25.5x | 7.3x |
| |
|---|
| Median (78 companies) | 1.6x | 1.4x | 1.4x | 2.7x | 2.7x |
|---|
| Valeura Energy Inc ($VLE) | | | -0.4x | -0.7x | |
