Alterra Power Corp EBITDA Margin dropped on 27.7 pp from 27.7% to in 2016
15.03.2017 • About Alterra Power Corp (
$AXY) • By InTwits
Alterra Power Corp reported FY2016 financial results today. Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Alterra Power Corp ($AXY) key annual financial indicators
| mln. | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
|---|
P&L
|
|---|
| Revenue | 61.112 | 63.872 | 70.952 | 57.835 | 60.837 | 5.2% |
| Gross Profit | 14.524 | 13.021 | 17.092 | 16.131 | | -100.0% |
| SG&A | | | | 9.895 | | -100.0% |
| EBITDA | 10.847 | 11.268 | 19.657 | 15.998 | | -100.0% |
| Net Income | -19.849 | -110.831 | -36.340 | -16.717 | -11.947 | |
Balance Sheet
|
|---|
| Cash | 39.211 | 41.743 | 63.216 | 10.345 | | -100.0% |
| Short Term Debt | 18.600 | 19.304 | 17.752 | 135.386 | | -100.0% |
| Long Term Debt | 250.843 | 228.067 | 272.378 | 120.153 | | -100.0% |
Cash flow
|
|---|
| Capex | 20.629 | 21.392 | 62.480 | 56.545 | | -100.0% |
Ratios
|
|---|
| Revenue growth | 76.3% | 4.5% | 11.1% | -18.5% | 5.2% | |
| EBITDA growth | 163.4% | 3.9% | 74.4% | -18.6% | | |
| Gross Margin | 23.8% | 20.4% | 24.1% | 27.9% | | -27.9% |
| EBITDA Margin | 17.7% | 17.6% | 27.7% | 27.7% | 0.0% | -27.7% |
| Net Income Margin | -32.5% | -173.5% | -51.2% | -28.9% | -19.6% | 9.3% |
| SG&A, % of revenue | | | | 17.1% | | -17.1% |
| CAPEX, % of revenue | 33.8% | 33.5% | 88.1% | 97.8% | | -97.8% |
| ROIC | -0.2% | -0.2% | 1.2% | 1.0% | | -1.0% |
| ROE | -6.7% | -46.0% | -21.6% | -12.6% | | 12.6% |
| Net Debt/EBITDA | 21.2x | 18.2x | 11.5x | 15.3x | | -15.3x |
Alterra Power Corp ($AXY) key quoterly financial indicators
| mln. | FY16Q1 | FY16Q2 | FY16Q3 | FY16Q4 | YoY change |
|---|
P&L
|
|---|
| Revenue | 15 | 14 | 14 | 18 | -9.0% | 2.0% | 15.3% | 14.9% |
| EBITDA | 4 | 2 | 2 | 2 | -18.5% | -56.5% | -35.9% | -45.5% |
| Net Income | -4 | 1 | 6 | -15 | | -81.6% | 375.5% | |
Balance Sheet
|
|---|
| Cash | 10 | 12 | 7 | 32 | -79.0% | -54.5% | -53.1% | 205.1% |
| Short Term Debt | 141 | 147 | 160 | 76 | 726.3% | 674.3% | 127.5% | -44.0% |
| Long Term Debt | 123 | 119 | 114 | 177 | -52.1% | -53.2% | -42.2% | 47.1% |
Ratios
|
|---|
| Gross Margin | 25.8% | 26.0% | 16.5% | 12.3% | -4.9% | -2.7% | -7.0% | -15.3% |
| EBITDA Margin | 29.3% | 14.8% | 14.1% | 8.5% | -3.4% | -19.9% | -11.3% | -9.5% |
| Net Income Margin | -25.3% | 6.7% | 39.5% | -81.4% | 65.5% | -30.4% | 29.9% | -30.2% |
Revenue and profitability
Alterra Power Corp's Revenue increased on 5.2%. Revenue growth showed acceleration in FY16Q4 - it increased 14.9% YoY.
Net Income marign increased on 9.3 pp from -28.9% to -19.6% in FY2016.
Appendix 1: Peers in Energy
Below we provide Alterra Power Corp benchmarking against other companies in Energy industry for the last 5 years. We show data for the top-5 companies by key financial metric together with the median value for all the companies in the industry.
Top companies by Revenue growth, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Oryx Petroleum Corp Ltd ($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% | -19.1% |
|---|
| Alterra Power Corp ($AXY) | | 4.5% | 11.1% | -18.5% | 5.2% |
Top companies by Gross margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Americas Petrogas Inc ($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% | 32.2% | 32.4% | 33.9% | 32.0% |
|---|
| Alterra Power Corp ($AXY) | 23.8% | 20.4% | 24.1% | 27.9% | |
Top companies by EBITDA margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Granite Oil Corp ($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% |
|---|
| Alterra Power Corp ($AXY) | 17.7% | 17.6% | 27.7% | 27.7% | |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Oryx Petroleum Corp Ltd ($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) | 43.8% | 39.2% | 45.0% | 27.6% | 23.0% |
|---|
| Alterra Power Corp ($AXY) | 33.8% | 33.5% | 88.1% | 97.8% | |
Top companies by ROIC, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Enerplus Corp ($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% |
|---|
| Alterra Power Corp ($AXY) | -0.2% | -0.2% | 1.2% | 1.0% | |
Top companies by Net Debt / EBITDA
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| BlackPearl Resources Inc ($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) | 1.5x | 1.4x | 1.4x | 2.6x | 2.7x |
|---|
| Alterra Power Corp ($AXY) | 21.2x | 18.2x | 11.5x | 15.3x | |
