Canlan Ice Sports Corp reports 9.2 pp EBITDA Margin decline from 9.2% to in 2016
22.03.2017 • About Canlan Ice Sports Corp (
$ICE) • By InTwits
Canlan Ice Sports Corp reported FY2016 financial results today. Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Canlan Ice Sports Corp ($ICE) key annual financial indicators
| mln. CAD | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
|---|
P&L
|
|---|
| Revenue | 72.823 | 72.791 | 75.732 | 79.449 | 83.079 | 4.6% |
| Gross Profit | 52.141 | 50.755 | 53.511 | 62.168 | | -100.0% |
| SG&A | | | | 4.304 | | -100.0% |
| EBITDA | 9.757 | 9.788 | 11.084 | 7.290 | | -100.0% |
| Net Income | 1.295 | 1.096 | 0.896 | -3.602 | 1.294 | |
Balance Sheet
|
|---|
| Cash | 12.900 | 10.080 | 13.534 | 10.065 | | -100.0% |
| Short Term Debt | 3.592 | 13.206 | 4.378 | 5.022 | | -100.0% |
| Long Term Debt | 35.426 | 28.027 | 49.204 | 50.740 | | -100.0% |
Cash flow
|
|---|
| Capex | 0.000 | 0.000 | 10.190 | 7.360 | | -100.0% |
Ratios
|
|---|
| Revenue growth | 1.2% | -0.0% | 4.0% | 4.9% | 4.6% | |
| EBITDA growth | -0.9% | 0.3% | 13.2% | -34.2% | | |
| Gross Margin | 71.6% | 69.7% | 70.7% | 78.2% | | -78.2% |
| EBITDA Margin | 13.4% | 13.4% | 14.6% | 9.2% | 0.0% | -9.2% |
| Net Income Margin | 1.8% | 1.5% | 1.2% | -4.5% | 1.6% | 6.1% |
| SG&A, % of revenue | | | | 5.4% | | -5.4% |
| CAPEX, % of revenue | 0.0% | 0.0% | 13.5% | 9.3% | | -9.3% |
| ROIC | 5.5% | 4.9% | 5.4% | 0.3% | | -0.3% |
| ROE | 2.9% | 2.4% | 2.0% | -8.1% | | 8.1% |
| Net Debt/EBITDA | 2.7x | 3.2x | 3.6x | 6.3x | | -6.3x |
Canlan Ice Sports Corp ($ICE) key quoterly financial indicators
| mln. CAD | FY16Q1 | FY16Q2 | FY16Q3 | FY16Q4 | YoY change |
|---|
P&L
|
|---|
| Revenue | 24 | 18 | 17 | 24 | 7.3% | 4.0% | 1.9% | 4.2% |
| EBITDA | 7 | 0 | -0 | 5 | 22.6% | 3,700.0% | -646.2% | 191.0% |
| Net Income | 4 | -4 | -1 | 2 | 131.4% | | | |
Balance Sheet
|
|---|
| Cash | 9 | 9 | 10 | 16 | 6.6% | 60.5% | 57.5% | 62.3% |
| Short Term Debt | 5 | 4 | 4 | 5 | 7.0% | -19.3% | -13.4% | -4.8% |
| Long Term Debt | 49 | 55 | 55 | 54 | -6.8% | 4.5% | 5.5% | 6.9% |
Ratios
|
|---|
| Gross Margin | 82.5% | 75.4% | 75.4% | 81.8% | 1.5% | 2.7% | -0.6% | 0.5% |
| EBITDA Margin | 27.4% | 2.5% | -1.3% | 22.2% | 3.4% | 2.4% | -1.5% | 14.3% |
| Net Income Margin | 16.4% | -20.9% | -6.6% | 9.4% | 8.8% | -9.9% | 8.8% | 10.3% |
Revenue and profitability
The company's Revenue increased on 4.6%. Revenue growth showed slow down in FY16Q4 - it was 4.2% YoY.
Net Income marign increased on 6.1 pp from -4.5% to 1.6% in FY2016.
Appendix 1: Peers in Consumer, Cyclical
Below we provide Canlan Ice Sports Corp benchmarking against other companies in Consumer, Cyclical industry for the last 5 years. We show data for the top-5 companies by key financial metric together with the median value for all the companies in the industry.
Top companies by Revenue growth, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| New Flyer Industries Inc ($NFI) | | 38.6% | 21.0% | 6.1% | 47.8% |
| Hardwoods Distribution Inc ($HWD) | | 21.3% | 22.8% | 25.4% | 38.1% |
| Spin Master Corp ($TOY) | | 21.5% | 41.0% | 22.9% | 31.3% |
| Great Canadian Gaming Corp ($GC) | | -0.3% | 9.6% | 3.7% | 22.4% |
| CanWel Building Materials Group Ltd ($CWX) | | 2.1% | 4.6% | 8.6% | 18.6% |
| |
|---|
| Median (35 companies) | | 5.2% | 7.2% | 7.5% | 5.5% |
|---|
| Canlan Ice Sports Corp ($ICE) | | -0.0% | 4.0% | 4.9% | 4.6% |
Top companies by Gross margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Innova Gaming Group Inc ($IGG) | 89.3% | 82.4% | 85.3% | 92.9% | 88.1% |
| Second Cup Ltd/The ($SCU) | 86.6% | 85.1% | 72.7% | 81.1% | |
| New Look Vision Group Inc ($BCI) | 71.8% | 72.6% | 72.6% | 78.7% | |
| Cara Operations Ltd ($CAO) | | 79.2% | 78.9% | 78.4% | |
| Air Canada ($AC) | 62.4% | 63.5% | 64.0% | 71.9% | 78.6% |
| |
|---|
| Median (36 companies) | 34.1% | 30.8% | 31.9% | 30.6% | 34.6% |
|---|
| Canlan Ice Sports Corp ($ICE) | 71.6% | 69.7% | 70.7% | 78.2% | |
Top companies by EBITDA margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Westshore Terminals Investment Corp ($WTE) | 49.7% | 65.9% | 60.9% | 59.6% | |
| Gamehost Inc ($GH) | 46.1% | 45.7% | 45.9% | 42.8% | 42.6% |
| Great Canadian Gaming Corp ($GC) | 16.8% | 41.1% | 40.1% | 36.6% | 34.4% |
| Restaurant Brands International Inc ($QSR) | | 51.1% | 20.8% | 33.9% | 44.4% |
| Cara Operations Ltd ($CAO) | | 9.6% | 22.6% | 32.6% | |
| |
|---|
| Median (38 companies) | 8.0% | 9.8% | 12.2% | 11.0% | 15.1% |
|---|
| Canlan Ice Sports Corp ($ICE) | 13.4% | 13.4% | 14.6% | 9.2% | |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Holloway Lodging Corp ($HLC) | 8.2% | 6.7% | 14.8% | 26.7% | 9.3% |
| WestJet Airlines Ltd ($WJA) | 7.9% | 19.5% | 18.6% | 22.5% | 22.4% |
| Westshore Terminals Investment Corp ($WTE) | 25.7% | 11.5% | 6.2% | 21.2% | |
| Innova Gaming Group Inc ($IGG) | 20.6% | 26.7% | 15.9% | 15.6% | 15.1% |
| Exchange Income Corp ($EIF) | 7.9% | 15.8% | 15.5% | 15.4% | 29.7% |
| |
|---|
| Median (41 companies) | 3.2% | 3.2% | 3.3% | 3.2% | 4.9% |
|---|
| Canlan Ice Sports Corp ($ICE) | 0.0% | 0.0% | 13.5% | 9.3% | |
Top companies by ROIC, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Spin Master Corp ($TOY) | | 19.2% | 56.9% | 48.2% | 44.5% |
| Magna International Inc ($MG) | 16.3% | 18.6% | 25.2% | 21.9% | 21.2% |
| Linamar Corp ($LNR) | 12.9% | 17.0% | 21.7% | 23.7% | 19.8% |
| Sleep Country Canada Holdings Inc ($ZZZ) | | | 9.7% | 12.7% | 19.0% |
| Air Canada ($AC) | | 37.0% | 23.2% | 28.4% | 18.8% |
| |
|---|
| Median (41 companies) | 11.0% | 12.6% | 10.9% | 10.9% | 11.2% |
|---|
| Canlan Ice Sports Corp ($ICE) | 5.5% | 4.9% | 5.4% | 0.3% | |
Top companies by Net Debt / EBITDA
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Holloway Lodging Corp ($HLC) | | 5.8x | 8.4x | 17.1x | 8.6x |
| AutoCanada Inc ($ACQ) | 4.2x | 4.7x | 6.4x | 8.0x | 13.7x |
| Second Cup Ltd/The ($SCU) | 1.0x | 0.6x | 0.0x | 7.5x | 0.0x |
| Amaya Inc ($AYA) | 17.9x | 1.8x | 13.5x | 6.6x | 5.0x |
| Performance Sports Group Ltd ($PSG) | 2.6x | 3.5x | 12.2x | 6.5x | |
| |
|---|
| Median (34 companies) | 1.7x | 2.5x | 2.3x | 2.4x | 2.1x |
|---|
| Canlan Ice Sports Corp ($ICE) | 2.7x | 3.2x | 3.6x | 6.3x | |
