SCMP Group Ltd Net Income surged on 438% and Revenue increased on 8.2%

22/03/2017 • About SCMP Group Ltd ($583) • By InTwits

SCMP Group Ltd reported FY2016 financial results today. Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.

SCMP Group Ltd ($583) key annual financial indicators

mln. HKD	2012	2013	2014	2015	2016	2016/2015
P&L
Revenue	1,020	1,147	47	53	57	8.2%
EBITDA	240	235	102	102		-100.0%
Net Income	316	224	137	316	1,702	438.3%
Balance Sheet
Cash	319	396	464	39		-100.0%
Short Term Debt	9	0	7	0
Long Term Debt	0	0	0	0
Cash flow
Capex	72	60	25	45		-100.0%
Ratios
Revenue growth	7.8%	12.5%	-95.9%	12.5%	8.2%
EBITDA growth	-5.7%	-2.1%	-56.4%	-0.2%
EBITDA Margin	23.5%	20.5%	218.1%	193.5%	0.0%	-193.5%
Net Income Margin	31.0%	19.5%	291.3%	598.6%	2,978.0%	2,379.5%
CAPEX, % of revenue	7.0%	5.3%	52.2%	85.2%		-85.2%
ROIC	6.3%	5.5%	1.1%	1.2%		-1.2%
ROE	11.2%	7.4%	4.4%	9.8%		-9.8%
Net Debt/EBITDA	-1.3x	-1.7x	-4.5x	-0.4x		0.4x

Revenue and profitability

The company's Revenue increased on 8.2%.

Net Income marign surged on 2,379 pp from 599% to 2,978% in FY2016.

Appendix 1: Peers in Media

Below we provide SCMP Group Ltd benchmarking against other companies in Media 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
CMMB Vision Holdings Ltd ($471)		168.1%	27.8%	850.0%
Hong Kong Economic Times Holdings Ltd ($423)		2.7%	3.1%	5.3%	4.9%
Modern Media Holdings ($72)		-3.7%	-4.3%	-1.3%	-12.9%
Focus Media Network Ltd ($8112)	-10.6%	34.6%	5.6%	-5.2%
Sing Tao News Corp Ltd ($1105)	-7.5%	-7.9%	-2.4%	-6.2%
Median (18 companies)	-1.6%	-1.9%	-3.9%	-9.2%	-10.2%
SCMP Group Ltd ($583)		12.5%	-95.9%	12.5%	8.2%

Top companies by Gross margin, %

Top 5	FY2012	FY2013	FY2014	FY2015	FY2016
I-CABLE Communications Ltd ($1097)	94.8%	94.7%	94.1%	94.4%	94.0%
Focus Media Network Ltd ($8112)	68.0%	67.2%	50.8%	57.6%
Television Broadcasts Ltd ($511)	62.9%	60.9%	59.0%	54.9%
One Media Group Ltd ($426)	57.3%	56.7%	54.5%	52.7%	45.6%
Modern Media Holdings ($72)	57.5%	55.8%	55.6%	50.8%
Median (16 companies)	38.5%	39.5%	36.1%	36.5%	38.2%

Top companies by EBITDA margin, %

Top 5	FY2012	FY2013	FY2014	FY2015	FY2016
Media Chinese International Ltd ($685)	20.0%	18.3%	18.1%	16.5%	14.3%
One Media Group Ltd ($426)	18.7%	23.0%	22.8%	15.2%	-5.8%
Phoenix Satellite Television Holdings Ltd ($2008)	30.1%	31.1%	24.6%	14.1%	12.7%
Oriental Press Group ($18)	9.5%	12.8%	14.6%	13.9%	9.2%
Next Media Ltd ($282)	20.2%	18.8%	13.9%	12.0%	3.5%
Median (18 companies)	9.9%	11.5%	9.8%	8.9%	9.2%
SCMP Group Ltd ($583)	23.5%	20.5%	218.1%	193.5%

Top companies by CAPEX/Revenue, %

Top 5	FY2012	FY2013	FY2014	FY2015	FY2016
Evergrande Health Industry Group Ltd ($708)	14.6%	2.4%	2.9%	13.5%
I-CABLE Communications Ltd ($1097)	10.1%	7.6%	11.3%	13.0%
Hong Kong Economic Times Holdings Ltd ($423)	8.4%	8.5%	1.3%	10.0%	1.5%
Tom Group Ltd ($2383)	11.9%	8.4%	9.4%	9.5%
China 33 Media Group Ltd ($8087)	1.4%	0.6%	1.5%	8.5%
Median (18 companies)	2.7%	5.2%	2.3%	5.0%	1.3%
SCMP Group Ltd ($583)	7.0%	5.3%	52.2%	85.2%

Top companies by ROIC, %

Top 5	FY2012	FY2013	FY2014	FY2015	FY2016
Media Chinese International Ltd ($685)	18.6%	17.8%	18.4%	15.6%	11.1%
One Media Group Ltd ($426)	25.6%	21.8%	16.0%	8.9%	-6.5%
Next Media Ltd ($282)	8.5%	6.7%	8.2%	6.8%	-1.5%
Modern Media Holdings ($72)	20.6%	10.4%	9.3%	5.5%
Hong Kong Economic Times Holdings Ltd ($423)	11.5%	-1.5%	3.2%	5.2%	7.0%
Median (18 companies)	3.7%	4.3%	2.6%	0.8%	-1.5%
SCMP Group Ltd ($583)	6.3%	5.5%	1.1%	1.2%

Top companies by Net Debt / EBITDA

Top 5	FY2012	FY2013	FY2014	FY2015	FY2016
Tom Group Ltd ($2383)			8.1x	16.7x	25.4x
I-CABLE Communications Ltd ($1097)	-4.0x	-0.8x	0.2x	2.0x	3.8x
One Media Group Ltd ($426)	-2.3x	-0.6x	-1.1x	1.5x
Modern Media Holdings ($72)	-0.8x	-0.9x	0.1x	1.0x
Media Chinese International Ltd ($685)	-1.4x	0.8x	0.6x	0.2x	-0.5x
Median (11 companies)	-1.9x	-1.1x	-1.1x	-0.1x	-0.7x
SCMP Group Ltd ($583)	-1.3x	-1.7x	-4.5x	-0.4x

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