Sky Forever Supply Chain Management Group Ltd revenue surged on 12,495% in 2015 and EBITDA Margin jumped on 72.7 pp from -75.8% to -3.1%
29/06/2015 • About Sky Forever Supply Chain Management Group Ltd (
$8047) • By InTwits
Sky Forever Supply Chain Management Group Ltd reported FY2015 financial results today. Overall the company's long term financial model is characterised by the following facts:
- Sky Forever Supply Chain Management Group Ltd doesn't have a profitable business model yet: FY2015 ROIC is -13.8%
- The company operates at negative EBITDA Margin: -3.1%
- Sky Forever Supply Chain Management Group Ltd motivates its personel by high Stock Based Compensation (SBC): average SBC/Revenue for FY2011-FY2015 was 0.0%. On average EBITDA Margin was -9.5% for the sames years0
- Sky Forever Supply Chain Management Group Ltd has low CAPEX intensity: 5 year average CAPEX/Revenue was 3.4%. At the same time it's in pair with industry average of 11.4%.
- CAPEX is quite volatile: 16.1 in FY2015, 0.32 in FY2014, 0.39 in FY2013, 0.62 in FY2012, 0.69 in FY2011
- The company has unprofitable business model: ROIC is at -13.8%
- It operates with high leverage: Net Debt/EBITDA is 11.7x while industry average is -0.2x
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Sky Forever Supply Chain Management Group Ltd ($8047) key annual financial indicators
| mln. | 2011 | 2012 | 2013 | 2014 | 2015 | 2015/2014 |
|---|
P&L
|
|---|
| Revenue | 24 | 6 | 35 | 13 | 1,640 | 12,494.5% |
| Gross Profit | 17 | 5 | 26 | 2 | 9 | 480.5% |
| SG&A | | 63 | 37 | 29 | 68 | 132.3% |
| EBITDA | -58 | -35 | -8 | -10 | -52 | 423.0% |
| Net Income | -329 | -68 | -78 | -76 | -59 | -22.4% |
Balance Sheet
|
|---|
| Cash | 60 | 55 | 80 | 87 | 281 | 224.5% |
| Short Term Debt | 0 | 0 | 0 | 0 | 0 | |
| Long Term Debt | 0 | 0 | 0 | 0 | 0 | |
Cash flow
|
|---|
| Capex | 1 | 1 | 0 | 0 | 16 | 4,875.9% |
Ratios
|
|---|
| Revenue growth | -45.2% | -73.4% | 446.4% | -62.3% | 12,494.5% | |
| EBITDA growth | -354.7% | -38.5% | -76.6% | 19.3% | 423.0% | |
| Gross Margin | 71.4% | 86.2% | 75.9% | 12.1% | 0.6% | -11.6% |
| EBITDA Margin | -242.4% | -560.9% | -24.0% | -75.8% | -3.1% | 72.7% |
| Net Income Margin | -1,381.5% | -1,079.2% | -224.9% | -585.9% | -3.6% | 582.3% |
| SG&A, % of revenue | | 994.1% | 108.2% | 224.9% | 4.1% | -220.8% |
| CAPEX, % of revenue | 2.9% | 9.7% | 1.1% | 2.5% | 1.0% | -1.5% |
| ROIC | -22.8% | -18.9% | -4.1% | -4.3% | -13.8% | -9.5% |
| ROE | -139.2% | -59.7% | -61.5% | -51.6% | -18.7% | 32.9% |
Revenue and profitability
The company's Revenue jumped on 12,495% in FY2015. Having declining revenue the company managed to increase EBITDA margin. EBITDA Margin increased on 4.8 pp from 29.9% to 34.7% in FY2015.
Gross Margin dropped on 11.6 pp from 12.1% to 0.56% in FY2015. SG&A as a % of Revenue dropped on 221 pp from 225% to 4.1% in FY2015.
Net Income marign surged on 582 pp from -586% to -3.6% in FY2015.
Capital expenditures (CAPEX) and working capital investments
Sky Forever Supply Chain Management Group Ltd's CAPEX/Revenue was 0.98% in FY2015. The company showed decline in CAPEX/Revenue of 8.8 pp from 9.7% in FY2012 to 0.98% in FY2015. It's average level of CAPEX/Revenue for the last three years was 1.5%.
Return on investment
The company operates at negative ROIC (-13.79%) and ROE (-18.72%). ROIC decreased on 9.5 pp from -4.3% to -13.8% in FY2015. ROE surged on 32.9 pp from -51.6% to -18.7% in FY2015.
Leverage (Debt)
The company has no debt. Cash jumped on 224% in FY2015.
Appendix 1: Peers in Environmental Control
Below you can find Sky Forever Supply Chain Management Group Ltd benchmarking vs. other companies in Environmental Control 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 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| China Environmental Technology Holdings Ltd ($646) | -58.7% | 138.4% | -89.9% | 509.7% | |
| Capital Environment Holdings Ltd ($3989) | -89.7% | -12.6% | 1,503.8% | 241.2% | |
| CT Environmental Group Ltd ($1363) | 21.9% | -18.7% | 23.1% | 112.9% | |
| Asia Energy Logistics Group Ltd ($351) | | | | 92.2% | |
| Green Energy Group Ltd ($979) | 57.8% | -75.7% | 92.3% | 43.5% | |
| |
|---|
| Median (18 companies) | 17.3% | -7.4% | 6.0% | 11.5% | -1.8% |
|---|
| Sky Forever Supply Chain Management Group Ltd ($8047) | | -73.4% | 446.4% | -62.3% | 12,494.5% |
Top companies by Gross margin, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| EverChina International Holdings Co Ltd ($202) | 40.2% | 51.8% | 53.4% | 95.3% | 95.4% |
| China Environmental Resources Group Ltd ($1130) | 12.3% | 17.2% | 11.3% | 73.7% | |
| CT Environmental Group Ltd ($1363) | 57.7% | 65.8% | 63.1% | 56.4% | |
| China Everbright International Ltd ($257) | 41.3% | 49.4% | 44.7% | 46.7% | |
| New Universe International Group Ltd ($8068) | 51.9% | 47.9% | 47.7% | 45.0% | |
| |
|---|
| Median (17 companies) | 34.1% | 20.4% | 30.1% | 32.2% | 30.6% |
|---|
| Sky Forever Supply Chain Management Group Ltd ($8047) | 71.4% | 86.2% | 75.9% | 12.1% | 0.6% |
Top companies by EBITDA margin, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| CT Environmental Group Ltd ($1363) | 52.2% | 63.6% | 62.8% | 58.7% | |
| Tianjin Capital Environmental Protection Group Co Ltd ($1065) | 55.9% | 57.5% | 56.6% | 57.8% | |
| China Everbright International Ltd ($257) | 37.3% | 44.6% | 40.7% | 43.6% | |
| New Universe International Group Ltd ($8068) | 42.0% | 40.2% | 37.8% | 39.3% | |
| China Water Affairs Group Ltd ($855) | 38.8% | 38.2% | 38.1% | 37.1% | 40.3% |
| |
|---|
| Median (18 companies) | 6.2% | 4.2% | 2.0% | -1.7% | -16.2% |
|---|
| Sky Forever Supply Chain Management Group Ltd ($8047) | -242.4% | -560.9% | -24.0% | -75.8% | -3.1% |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| CT Environmental Group Ltd ($1363) | 31.8% | 65.0% | 27.1% | 51.4% | |
| New Universe International Group Ltd ($8068) | 103.4% | 16.4% | 16.6% | 44.9% | |
| Green Energy Group Ltd ($979) | 7.5% | 169.0% | 270.8% | 41.9% | |
| Integrated Waste Solutions Group Holdings Ltd ($923) | 25.4% | 13.2% | 10.6% | 41.7% | 88.1% |
| Tianjin Capital Environmental Protection Group Co Ltd ($1065) | 42.2% | 43.1% | 46.5% | 38.6% | |
| |
|---|
| Median (18 companies) | 14.3% | 17.2% | 16.4% | 16.6% | 58.2% |
|---|
| Sky Forever Supply Chain Management Group Ltd ($8047) | 2.9% | 9.7% | 1.1% | 2.5% | 1.0% |
Top companies by ROIC, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| CT Environmental Group Ltd ($1363) | 34.4% | 25.9% | 20.5% | 20.8% | |
| China Everbright International Ltd ($257) | 11.1% | 10.4% | 11.2% | 10.5% | |
| Dongjiang Environmental Co Ltd ($895) | 17.0% | 14.3% | 7.4% | 9.4% | |
| New Universe International Group Ltd ($8068) | 5.8% | 6.3% | 6.8% | 8.9% | |
| Tianjin Capital Environmental Protection Group Co Ltd ($1065) | 7.4% | 7.1% | 6.8% | 7.8% | |
| |
|---|
| Median (18 companies) | 3.8% | -1.2% | -0.1% | -2.1% | -1.2% |
|---|
| Sky Forever Supply Chain Management Group Ltd ($8047) | -22.8% | -18.9% | -4.1% | -4.3% | -13.8% |
Top companies by Net Debt / EBITDA
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| China Water Affairs Group Ltd ($855) | 2.8x | 2.6x | 2.7x | 3.2x | 3.4x |
| Tianjin Capital Environmental Protection Group Co Ltd ($1065) | 4.1x | 4.2x | 3.1x | 2.9x | |
| CT Environmental Group Ltd ($1363) | 1.8x | 2.4x | 0.5x | 1.9x | |
| China Everbright International Ltd ($257) | 2.8x | 2.1x | 0.5x | 1.5x | |
| Dongjiang Environmental Co Ltd ($895) | 1.0x | -1.7x | -1.5x | 0.9x | |
| |
|---|
| Median (9 companies) | 1.4x | 2.3x | 0.1x | 0.9x | 3.4x |
|---|
