Excellon Resources Inc reports 5.1% revenue growth in FY2016
23.03.2017 • About Excellon Resources Inc (
$EXN) • By InTwits
Excellon Resources Inc reported FY2016 financial results today. Overall the company's long term financial model is characterised by the following facts:
- EBITDA Margin is declining: in FY2016 vs. -24.2% in FY2015 vs. 7.5% in FY2012
- Excellon Resources Inc motivates its personel by high Stock Based Compensation (SBC): average SBC/Revenue for FY2012-FY2016 was 0.0%. On average EBITDA Margin was -0.5% for the sames years0
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Excellon Resources Inc ($EXN) key annual financial indicators
| mln. $ | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
|---|
P&L
|
|---|
| Revenue | 36.273 | 33.332 | 30.767 | 16.167 | 16.994 | 5.1% |
| Gross Profit | 17.084 | 8.730 | 2.382 | -2.524 | | |
| SG&A | | | | 2.419 | | -100.0% |
| EBITDA | 2.732 | 0.361 | 0.139 | -3.910 | | |
| Net Income | 8.408 | -5.041 | -19.292 | -5.040 | -14.071 | |
Balance Sheet
|
|---|
| Cash | 1.369 | 2.591 | 3.467 | 3.506 | | -100.0% |
| Short Term Debt | 0.000 | 0.000 | 0.000 | 0.000 | | |
| Long Term Debt | 0.000 | 0.000 | 0.000 | 2.727 | | -100.0% |
Cash flow
|
|---|
| Capex | 2.777 | 4.125 | 3.340 | 1.635 | | -100.0% |
Ratios
|
|---|
| Revenue growth | -25.3% | -8.1% | -7.7% | -47.5% | 5.1% | |
| EBITDA growth | -85.7% | -86.8% | -61.5% | -2,912.9% | | |
| Gross Margin | 47.1% | 26.2% | 7.7% | -15.6% | | 15.6% |
| EBITDA Margin | 7.5% | 1.1% | 0.5% | -24.2% | 0.0% | 24.2% |
| Net Income Margin | 23.2% | -15.1% | -62.7% | -31.2% | -82.8% | -51.6% |
| SG&A, % of revenue | | | | 15.0% | | -15.0% |
| CAPEX, % of revenue | 7.7% | 12.4% | 10.9% | 10.1% | | -10.1% |
| ROIC | -0.3% | -6.9% | -9.8% | -29.4% | | 29.4% |
| ROE | 13.4% | -8.0% | -40.2% | -16.1% | | 16.1% |
| Net Debt/EBITDA | -0.5x | -7.2x | -24.9x | | | 0.0x |
Excellon Resources Inc ($EXN) key quoterly financial indicators
| mln. $ | FY16Q1 | FY16Q2 | FY16Q3 | FY16Q4 | YoY change |
|---|
P&L
|
|---|
| Revenue | 4 | 5 | 4 | 3 | -15.7% | 33.1% | -12.8% | 35.4% |
| Net Income | -3 | -4 | -7 | -0 | | | | |
Balance Sheet
|
|---|
| Cash | 4 | 3 | 10 | 5 | 177.6% | 127.5% | 663.0% | 54.3% |
| Short Term Debt | 0 | 0 | 0 | 0 | | | | |
| Long Term Debt | 3 | 3 | 3 | 3 | | | | 8.5% |
Ratios
|
|---|
| Net Income Margin | -61.6% | -81.5% | -174.9% | -1.6% | -56.9% | -36.4% | -146.5% | 66.1% |
Revenue and profitability
Excellon Resources Inc's Revenue increased on 5.1%. Revenue growth showed acceleration in FY16Q4 - it increased 35.4% YoY.
Net Income marign dropped on 51.6 pp from -31.2% to -82.8% in FY2016.
Appendix 1: Peers in Basic Materials
Below we provide Excellon Resources Inc benchmarking against other companies in Basic Materials 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 |
|---|
| Avino Silver & Gold Mines Ltd ($ASM) | | 613.6% | 19.9% | -1.1% | 109.1% |
| Trevali Mining Corp ($TV) | | | | 12.9% | 86.4% |
| Geodrill Ltd ($GEO) | | -43.3% | -4.3% | 34.6% | 53.1% |
| Tahoe Resources Inc ($THO) | | | | 48.4% | 50.9% |
| Osisko Gold Royalties Ltd ($OR) | | | | 164.4% | 38.0% |
| |
|---|
| Median (82 companies) | 100.8% | -2.5% | 2.0% | -1.7% | 6.8% |
|---|
| Excellon Resources Inc ($EXN) | | -8.1% | -7.7% | -47.5% | 5.1% |
Top companies by Gross margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Nevsun Resources Ltd ($NSU) | 89.9% | 94.8% | 95.5% | 82.3% | 79.7% |
| Labrador Iron Ore Royalty Corp ($LIF) | 80.2% | 80.2% | 80.2% | 80.3% | 80.3% |
| Lucara Diamond Corp ($LUC) | 42.5% | 57.4% | 66.7% | 60.9% | 65.6% |
| Trevali Mining Corp ($TV) | | | 49.0% | 59.3% | |
| Perseus Mining Ltd ($PRU) | 52.5% | 50.9% | 32.0% | 53.7% | 26.3% |
| |
|---|
| Median (94 companies) | 32.1% | 22.1% | 19.1% | 16.9% | 24.8% |
|---|
| Excellon Resources Inc ($EXN) | 47.1% | 26.2% | 7.7% | -15.6% | |
Top companies by EBITDA margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Labrador Iron Ore Royalty Corp ($LIF) | | | | 72.8% | 73.5% |
| Silver Wheaton Corp ($SLW) | 82.6% | 75.3% | 69.6% | 65.8% | 59.7% |
| Franco-Nevada Corp ($FNV) | 62.1% | 44.6% | 72.3% | 60.8% | 70.3% |
| Lucara Diamond Corp ($LUC) | 7.6% | 57.3% | 57.5% | 60.0% | 62.4% |
| Sandstorm Gold Ltd ($SSL) | 74.3% | 49.9% | 62.1% | 56.5% | 64.6% |
| |
|---|
| Median (100 companies) | 18.6% | 11.5% | 10.7% | 7.3% | 23.5% |
|---|
| Excellon Resources Inc ($EXN) | 7.5% | 1.1% | 0.5% | -24.2% | |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Largo Resources Ltd ($LGO) | | | | 567.6% | |
| Sandstorm Gold Ltd ($SSL) | 152.1% | 118.8% | 49.4% | 412.7% | 17.3% |
| Silver Wheaton Corp ($SLW) | 75.5% | 286.8% | 22.5% | 279.2% | 90.3% |
| Franco-Nevada Corp ($FNV) | 3.7% | 35.5% | 201.6% | 230.0% | 122.4% |
| Avino Silver & Gold Mines Ltd ($ASM) | 211.7% | 5.6% | 89.8% | 163.3% | |
| |
|---|
| Median (100 companies) | 28.1% | 27.4% | 17.8% | 17.2% | 17.9% |
|---|
| Excellon Resources Inc ($EXN) | 7.7% | 12.4% | 10.9% | 10.1% | |
Top companies by ROIC, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Lucara Diamond Corp ($LUC) | -2.9% | 41.3% | 54.7% | 39.6% | 58.5% |
| Western Forest Products Inc ($WEF) | 9.0% | 25.1% | 15.7% | 16.4% | 25.1% |
| Geodrill Ltd ($GEO) | 8.6% | -3.5% | -9.3% | 3.6% | 20.3% |
| Supremex Inc ($SXP) | 14.1% | 18.5% | 16.5% | 23.4% | 19.3% |
| Canfor Pulp Products Inc ($CFX) | 4.9% | 13.2% | 21.3% | 24.1% | 17.0% |
| |
|---|
| Median (99 companies) | 4.9% | 1.3% | 1.6% | -3.6% | 4.4% |
|---|
| Excellon Resources Inc ($EXN) | -0.3% | -6.9% | -9.8% | -29.4% | |
Top companies by Net Debt / EBITDA
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Canam Group Inc ($CAM) | 4.2x | 2.6x | 3.2x | 1.8x | 13.9x |
| Taseko Mines Ltd ($TKO) | 7.4x | 5.9x | 10.2x | 5.9x | 11.0x |
| Methanex Corp ($MX) | 5.2x | 0.7x | 0.9x | 3.0x | 5.2x |
| Copper Mountain Mining Corp ($CUM) | 3.9x | 5.0x | 5.4x | 30.6x | 5.1x |
| Cameco Corp ($CCO) | 2.0x | 2.1x | 2.5x | 1.9x | 5.1x |
| |
|---|
| Median (58 companies) | 0.3x | 0.9x | 1.2x | 1.6x | 0.6x |
|---|
