Guangdong Yueyun Transportation Co Ltd-H reports 15.3% revenue decline in FY2016
13/03/2017 • About Guangdong Yueyun Transportation Co Ltd-H (
$3399) • By InTwits
Guangdong Yueyun Transportation Co Ltd-H reported FY2016 financial results today. Overall the company's long term financial model is characterised by the following facts: It operates with high leverage: Net Debt/EBITDA is 5.5x while industry average is 3.4x.
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Guangdong Yueyun Transportation Co Ltd-H ($3399) key annual financial indicators
| mln. CNY | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
|---|
P&L
|
|---|
| Revenue | 6,505 | 6,119 | 9,817 | 8,644 | 7,319 | -15.3% |
| Gross Profit | 842 | 812 | 983 | 1,241 | | -100.0% |
| SG&A | 664 | 567 | 617 | 778 | | -100.0% |
| EBITDA | 434 | 523 | 709 | 863 | | -100.0% |
| Net Income | 73 | 136 | 203 | 266 | 337 | 26.5% |
Balance Sheet
|
|---|
| Cash | 1,263 | 1,718 | 1,774 | 1,934 | | -100.0% |
| Short Term Debt | 909 | 1,129 | 1,018 | 490 | | -100.0% |
| Long Term Debt | 368 | 386 | 300 | 1,030 | | -100.0% |
Cash flow
|
|---|
| Capex | 356 | 493 | 475 | 897 | | -100.0% |
Ratios
|
|---|
| Revenue growth | -4.2% | -5.9% | 60.4% | -12.0% | -15.3% | |
| EBITDA growth | -10.8% | 20.5% | 35.5% | 21.8% | | |
| Gross Margin | 13.0% | 13.3% | 10.0% | 14.4% | | -14.4% |
| EBITDA Margin | 6.7% | 8.5% | 7.2% | 10.0% | 0.0% | -10.0% |
| Net Income Margin | 1.1% | 2.2% | 2.1% | 3.1% | 4.6% | 1.5% |
| SG&A, % of revenue | 10.2% | 9.3% | 6.3% | 9.0% | | -9.0% |
| CAPEX, % of revenue | 5.5% | 8.1% | 4.8% | 10.4% | | -10.4% |
| ROIC | 5.6% | 7.2% | 9.6% | 10.6% | | -10.6% |
| ROE | 4.4% | 9.5% | 12.8% | 15.0% | | -15.0% |
| Net Debt/EBITDA | 0.0x | -0.4x | -0.6x | -0.5x | | 0.5x |
Revenue and profitability
The company's Revenue dropped on 15.3%.
Net Income marign increased slightly on 1.5 pp from 3.1% to 4.6% in FY2016.
Appendix 1: Peers in Transportation
Below we provide Guangdong Yueyun Transportation Co Ltd-H benchmarking against other companies in Transportation 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 |
|---|
| Noble Century Investment Holdings Ltd ($2322) | | | | 2,388.3% | 326.5% |
| China Best Group Holding Ltd ($370) | 202.4% | -53.6% | 459.4% | 25.9% | |
| Changan Minsheng APLL Logistics Co Ltd ($1292) | 10.9% | 27.9% | 15.0% | 13.3% | |
| Kwoon Chung Bus Holdings Ltd ($306) | | 7.9% | 5.5% | 7.9% | 1.1% |
| Guangshen Railway Co Ltd ($525) | 2.7% | 4.7% | -6.9% | 6.9% | |
| |
|---|
| Median (31 companies) | 8.6% | 4.6% | 5.1% | -5.7% | -11.0% |
|---|
| Guangdong Yueyun Transportation Co Ltd-H ($3399) | | -5.9% | 60.4% | -12.0% | -15.3% |
Top companies by Gross margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| CIG Yangtze Ports PLC ($8233) | 51.3% | 44.8% | 46.6% | 48.7% | |
| Qinhuangdao Port Co Ltd ($3369) | 43.1% | 42.4% | 43.3% | 40.5% | |
| Kwoon Chung Bus Holdings Ltd ($306) | 18.9% | 20.4% | 22.7% | 26.8% | 27.5% |
| Chu Kong Shipping Enterprise Group Co Ltd ($560) | 23.1% | 25.1% | 24.1% | 23.1% | |
| Tianjin Port Development Holdings Ltd ($3382) | 22.5% | 18.4% | 13.6% | 22.7% | |
| |
|---|
| Median (27 companies) | 13.2% | 10.9% | 11.3% | 11.6% | -1.8% |
|---|
| Guangdong Yueyun Transportation Co Ltd-H ($3399) | 13.0% | 13.3% | 10.0% | 14.4% | |
Top companies by EBITDA margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| MTR Corp Ltd ($66) | 42.7% | 37.6% | 45.2% | 41.6% | 34.9% |
| Qinhuangdao Port Co Ltd ($3369) | 46.0% | 44.6% | 46.5% | 41.1% | |
| CIG Yangtze Ports PLC ($8233) | 30.2% | 27.6% | 38.5% | 39.5% | |
| China Shipping Development Co Ltd ($1138) | 12.5% | 3.0% | 24.7% | 26.7% | |
| Kwoon Chung Bus Holdings Ltd ($306) | 13.3% | 16.1% | 20.7% | 26.1% | 25.7% |
| |
|---|
| Median (31 companies) | 9.9% | 6.4% | 7.8% | 6.9% | 4.4% |
|---|
| Guangdong Yueyun Transportation Co Ltd-H ($3399) | 6.7% | 8.5% | 7.2% | 10.0% | |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Great Harvest Maeta Group Holdings Ltd ($3683) | 4.0% | 6.1% | 40.7% | 164.7% | 8.7% |
| Frontier Services Group Ltd ($500) | 6.3% | 3.6% | 63.3% | 75.9% | |
| MTR Corp Ltd ($66) | 31.1% | 34.5% | 30.8% | 52.0% | |
| CIG Yangtze Ports PLC ($8233) | 17.8% | 24.8% | 2.1% | 50.7% | |
| Transport International Holdings Ltd ($62) | 7.9% | 16.2% | 16.0% | 26.2% | |
| |
|---|
| Median (31 companies) | 7.9% | 9.0% | 7.4% | 9.0% | 8.7% |
|---|
| Guangdong Yueyun Transportation Co Ltd-H ($3399) | 5.5% | 8.1% | 4.8% | 10.4% | |
Top companies by ROIC, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Changan Minsheng APLL Logistics Co Ltd ($1292) | 21.1% | 20.9% | 19.1% | 19.3% | |
| Kwoon Chung Bus Holdings Ltd ($306) | 3.6% | 5.7% | 9.2% | 14.6% | 12.4% |
| SITC International Holdings Co Ltd ($1308) | 8.2% | 9.1% | 9.1% | 11.2% | |
| CIG Yangtze Ports PLC ($8233) | 4.9% | 5.7% | 11.0% | 11.1% | |
| On Time Logistics Holdings Ltd ($6123) | 15.6% | 15.5% | 16.7% | 11.1% | |
| |
|---|
| Median (31 companies) | 3.3% | 2.8% | 3.2% | 3.3% | -2.1% |
|---|
| Guangdong Yueyun Transportation Co Ltd-H ($3399) | 5.6% | 7.2% | 9.6% | 10.6% | |
Top companies by Net Debt / EBITDA
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Jinhui Holdings Co Ltd ($137) | 5.0x | 4.2x | 17.5x | 19.6x | |
| China Shipping Development Co Ltd ($1138) | 20.2x | 92.8x | 12.8x | 11.4x | |
| China COSCO Holdings Co Ltd ($1919) | | 18.8x | 9.0x | 8.1x | |
| Pacific Basin Shipping Ltd ($2343) | 2.1x | 4.6x | | 4.7x | 12.0x |
| AMS Public Transport Holdings Ltd ($77) | 1.2x | 11.6x | 7.7x | 4.5x | 1.6x |
| |
|---|
| Median (20 companies) | 1.2x | 1.5x | 0.9x | 1.3x | 1.9x |
|---|
| Guangdong Yueyun Transportation Co Ltd-H ($3399) | 0.0x | -0.4x | -0.6x | -0.5x | |
