Hidili Industry International Development Ltd revenue dropped on 41.3% in 2015 and EBITDA Margin dropped on 270 pp from -102% to -372%
01/03/2017 • About Hidili Industry International Development Ltd (
$1393) • By InTwits
Hidili Industry International Development Ltd reported FY2015 financial results today. Overall the company's long term financial model is characterised by the following facts:
- Hidili Industry International Development Ltd is a company in decline: FY2015 revenue growth was -41.3%, 5 years revenue CAGR was -29.6%
- The company operates at negative EBITDA Margin: -372.5%
- Hidili Industry International Development Ltd motivates its personel by high Stock Based Compensation (SBC): average SBC/Revenue for FY2011-FY2015 was 0.0%. On average EBITDA Margin was -1.8% for the sames years0
- The company has unprofitable business model: ROIC is at -13.9%
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Hidili Industry International Development Ltd ($1393) key annual financial indicators
| mln. CNY | 2011 | 2012 | 2013 | 2014 | 2015 | 2015/2014 |
|---|
P&L
|
|---|
| Revenue | 2,862 | 1,631 | 729 | 720 | 423 | -41.3% |
| Gross Profit | 1,768 | 1,050 | 280 | 77 | 1 | -98.1% |
| SG&A | 668 | 603 | 526 | 423 | 323 | -23.8% |
| EBITDA | 1,286 | 612 | 299 | -735 | -1,575 | 114.2% |
| Net Income | 714 | -147 | -425 | -1,423 | -2,285 | 60.6% |
Balance Sheet
|
|---|
| Cash | 597 | 1,554 | 322 | 33 | 18 | -46.0% |
| Short Term Debt | 1,640 | 6,919 | 5,421 | 4,333 | 7,619 | 75.8% |
| Long Term Debt | 4,535 | 1,813 | 1,587 | 2,833 | 0 | -100.0% |
Cash flow
|
|---|
| Capex | 2,121 | 1,342 | 1,054 | 664 | | -100.0% |
Ratios
|
|---|
| Revenue growth | 17.4% | -43.0% | -55.3% | -1.3% | -41.3% | |
| EBITDA growth | 12.2% | -52.4% | -51.2% | -345.9% | 114.2% | |
| Gross Margin | 61.8% | 64.4% | 38.4% | 10.8% | 0.3% | -10.4% |
| EBITDA Margin | 44.9% | 37.6% | 41.0% | -102.1% | -372.5% | -270.3% |
| Net Income Margin | 24.9% | -9.0% | -58.2% | -197.7% | -540.5% | -342.8% |
| SG&A, % of revenue | 23.4% | 37.0% | 72.1% | 58.8% | 76.3% | 17.5% |
| CAPEX, % of revenue | 74.1% | 82.3% | 144.6% | 92.3% | | -92.3% |
| ROIC | 8.0% | 2.8% | 1.3% | -6.1% | -13.9% | -7.8% |
| ROE | 9.8% | -2.0% | -6.0% | -22.7% | -51.7% | -29.0% |
| Net Debt/EBITDA | 4.3x | 11.7x | 22.4x | | | 0.0x |
Revenue and profitability
Hidili Industry International Development Ltd's Revenue dropped on 41.3% in FY2015. Revenue decline was worsened by EBITDA margin decline. EBITDA Margin dropped on 270 pp from -102% to -372% in FY2015.
Gross Margin dropped on 10.4 pp from 10.8% to 0.35% in FY2015. SG&A as a % of Revenue surged on 17.5 pp from 58.8% to 76.3% in FY2015.
Net Income marign dropped on 343 pp from -198% to -540% in FY2015.
Return on investment
The company operates at negative ROIC (-13.90%) and ROE (-51.68%). ROIC decreased on 7.8 pp from -6.1% to -13.9% in FY2015. ROE dropped on 29.0 pp from -22.7% to -51.7% in FY2015.
Leverage (Debt)
Debt level is 0.2x Net Debt / EBITDA and Debt / EBITDA. Net Debt / EBITDA didn't change in FY2015. Debt increased on 6.3% in FY2015 while cash dropped on 46.0% in FY2015.
Management team
Hidili Industry International Development Ltd's CEO is Sun Jiankun. Sun Jiankun has 5 years tenure at the company.
Appendix 1: Peers in Coal
Below you can find Hidili Industry International Development Ltd benchmarking vs. other companies in Coal 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 |
|---|
| Sino Resources Group Ltd ($223) | | | -44.8% | 14.7% | 354.5% |
| Asia Coal Ltd ($835) | | | -15.3% | 43.2% | 133.6% |
| Dowell Property Holdings Ltd ($668) | | -19.2% | -55.7% | -35.8% | 83.2% |
| Capital Finance Holdings Ltd ($8239) | | 83.6% | -5.2% | -5.5% | 70.6% |
| Up Energy Development Group Ltd ($307) | | | | | 60.5% |
| |
|---|
| Median (23 companies) | | -3.9% | -6.8% | -12.5% | -22.9% |
|---|
| Hidili Industry International Development Ltd ($1393) | | -43.0% | -55.3% | -1.3% | -41.3% |
Top companies by Gross margin, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Capital Finance Holdings Ltd ($8239) | 6.3% | 6.4% | 7.2% | 8.7% | 98.2% |
| Nan Nan Resources Enterprise Ltd ($1229) | | 23.9% | 17.6% | 18.1% | 44.3% |
| China Shenhua Energy Co Ltd ($1088) | 39.9% | 31.4% | 28.7% | 29.6% | 35.5% |
| Agritrade Resources Ltd ($1131) | | 22.9% | 29.4% | 31.8% | 30.0% |
| Shougang Fushan Resources Group Ltd ($639) | 70.4% | 63.5% | 50.9% | 40.1% | 24.5% |
| |
|---|
| Median (22 companies) | 38.0% | 19.9% | 17.3% | 9.4% | 3.9% |
|---|
| Hidili Industry International Development Ltd ($1393) | 61.8% | 64.4% | 38.4% | 10.8% | 0.3% |
Top companies by EBITDA margin, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Capital Finance Holdings Ltd ($8239) | -90.6% | -27.2% | -23.7% | -56.2% | 71.5% |
| Nan Nan Resources Enterprise Ltd ($1229) | | 19.1% | 14.1% | -0.2% | 40.5% |
| China Shenhua Energy Co Ltd ($1088) | 41.2% | 35.6% | 31.6% | 34.2% | 33.9% |
| Agritrade Resources Ltd ($1131) | | 41.6% | 37.3% | 33.4% | 31.1% |
| Feishang Anthracite Resources Ltd ($1738) | -9.2% | -13.1% | -32.9% | 19.0% | 15.9% |
| |
|---|
| Median (23 companies) | 26.2% | -1.1% | -4.3% | -6.5% | -14.3% |
|---|
| Hidili Industry International Development Ltd ($1393) | 44.9% | 37.6% | 41.0% | -102.1% | -372.5% |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Siberian Mining Group Co Ltd ($1142) | | 4.6% | 78.8% | 217.3% | 279.7% |
| Feishang Anthracite Resources Ltd ($1738) | 310.5% | 244.9% | 159.7% | 80.9% | 90.2% |
| Up Energy Development Group Ltd ($307) | | | | 279.5% | 75.2% |
| King Stone Energy Group Ltd ($663) | 82.7% | 58.5% | 135.3% | 205.7% | 69.3% |
| SouthGobi Resources Ltd ($1878) | | 124.8% | 20.2% | 11.5% | 52.6% |
| |
|---|
| Median (22 companies) | 21.8% | 13.7% | 23.0% | 17.8% | 18.4% |
|---|
Top companies by ROIC, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Capital Finance Holdings Ltd ($8239) | -31.3% | -25.1% | -14.9% | -26.9% | 21.0% |
| Nan Nan Resources Enterprise Ltd ($1229) | | 6.4% | 1.6% | -1.2% | 10.0% |
| China Shenhua Energy Co Ltd ($1088) | 21.0% | 19.5% | 17.4% | 14.6% | 7.7% |
| Agritrade Resources Ltd ($1131) | | 2.7% | 5.8% | 6.4% | 6.9% |
| Kinetic Mines and Energy Ltd ($1277) | -2.6% | -6.6% | -5.7% | 8.5% | 3.2% |
| |
|---|
| Median (23 companies) | 7.1% | -2.6% | -2.1% | -1.8% | -3.9% |
|---|
| Hidili Industry International Development Ltd ($1393) | 8.0% | 2.8% | 1.3% | -6.1% | -13.9% |
Top companies by Net Debt / EBITDA
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Feishang Anthracite Resources Ltd ($1738) | | | | 24.3x | 32.6x |
| China Coal Energy Co Ltd ($1898) | 0.5x | 1.9x | 4.9x | 9.7x | 14.4x |
| Inner Mongolia Yitai Coal Co Ltd ($3948) | 0.4x | 0.4x | 1.7x | 3.5x | 9.8x |
| Yanzhou Coal Mining Co Ltd ($1171) | 1.1x | 2.9x | 6.2x | 4.9x | 9.0x |
| Kinetic Mines and Energy Ltd ($1277) | | | | 4.5x | 5.9x |
| |
|---|
| Median (9 companies) | 0.9x | 1.9x | 3.1x | 4.5x | 5.9x |
|---|
