COSCO International Holdings Ltd reports 29.4% Net Income decline
23/03/2017 • About COSCO International Holdings Ltd (
$517) • By InTwits
COSCO International Holdings 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.
COSCO International Holdings Ltd ($517) key annual financial indicators
| mln. HKD | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
|---|
P&L
|
|---|
| Revenue | 10,006 | 9,308 | 7,588 | 6,000 | 7,430 | 23.8% |
| Gross Profit | 686 | 694 | 804 | 691 | | -100.0% |
| SG&A | 439 | 497 | 569 | 533 | | -100.0% |
| EBITDA | 312 | 214 | 267 | 253 | | -100.0% |
| Net Income | 363 | 242 | 359 | 336 | 237 | -29.4% |
Balance Sheet
|
|---|
| Cash | 5,764 | 6,227 | 6,094 | 6,224 | | -100.0% |
| Short Term Debt | 314 | 255 | 174 | 36 | | -100.0% |
| Long Term Debt | 0 | 0 | 0 | 0 | | |
Cash flow
|
|---|
| Capex | 13 | 40 | 142 | 174 | | -100.0% |
Ratios
|
|---|
| Revenue growth | -6.1% | -7.0% | -18.5% | -20.9% | 23.8% | |
| EBITDA growth | -15.9% | -31.4% | 24.7% | -5.3% | | |
| Gross Margin | 6.9% | 7.5% | 10.6% | 11.5% | | -11.5% |
| EBITDA Margin | 3.1% | 2.3% | 3.5% | 4.2% | 0.0% | -4.2% |
| Net Income Margin | 3.6% | 2.6% | 4.7% | 5.6% | 3.2% | -2.4% |
| SG&A, % of revenue | 4.4% | 5.3% | 7.5% | 8.9% | | -8.9% |
| CAPEX, % of revenue | 0.1% | 0.4% | 1.9% | 2.9% | | -2.9% |
| ROIC | 3.8% | 2.4% | 2.9% | 2.8% | | -2.8% |
| ROE | 5.0% | 3.3% | 4.7% | 4.3% | | -4.3% |
| Net Debt/EBITDA | -17.4x | -27.9x | -22.2x | -24.4x | | 24.4x |
Revenue and profitability
The company's Revenue surged on 23.8%.
Net Income marign decreased on 2.4 pp from 5.6% to 3.2% in FY2016.
Appendix 1: Peers in Oil&Gas
Below you can find COSCO International Holdings Ltd benchmarking vs. other companies in Oil&Gas 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 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Enviro Energy International Holdings Ltd ($1102) | -57.9% | 1,572.5% | -9.6% | 1,162.8% | |
| Sino Oil And Gas Holdings Ltd ($702) | -17.5% | -25.3% | -23.4% | 305.2% | |
| Shanghai Tonva Petrochemical Co Ltd ($1103) | | 33.1% | -10.1% | 55.4% | 74.7% |
| China CBM Group Co Ltd ($8270) | -27.6% | 1.8% | 60.9% | 9.3% | |
| Yanchang Petroleum International Ltd ($346) | 641.9% | 155.6% | 15.5% | 4.4% | |
| |
|---|
| Median (15 companies) | -13.9% | 13.7% | -3.9% | -11.5% | -0.5% |
|---|
| COSCO International Holdings Ltd ($517) | | -7.0% | -18.5% | -20.9% | 23.8% |
Top companies by Gross margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| United Energy Group Ltd ($467) | 39.4% | 48.0% | 53.8% | 51.5% | 52.6% |
| EPI Holdings Ltd ($689) | 58.0% | 50.7% | 54.6% | 41.2% | |
| Zhongyu Gas Holdings Ltd ($3633) | 23.6% | 23.8% | 24.9% | 24.0% | |
| South Sea Petroleum Holdings Ltd ($76) | 27.3% | 25.3% | 38.5% | 22.2% | |
| Shanghai Tonva Petrochemical Co Ltd ($1103) | 5.6% | 6.8% | 7.3% | 6.1% | 4.2% |
| |
|---|
| Median (10 companies) | 10.7% | 4.1% | 8.7% | 5.8% | 4.2% |
|---|
| COSCO International Holdings Ltd ($517) | 6.9% | 7.5% | 10.6% | 11.5% | |
Top companies by EBITDA margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| CNOOC Ltd ($883) | | 47.2% | 50.7% | 53.0% | 44.8% |
| Kunlun Energy Co Ltd ($135) | 47.0% | 39.5% | 34.9% | 30.9% | |
| Zhongyu Gas Holdings Ltd ($3633) | 18.6% | 18.9% | 21.0% | 21.5% | |
| China CBM Group Co Ltd ($8270) | 16.0% | -4.7% | 7.5% | 11.4% | |
| Shanghai Tonva Petrochemical Co Ltd ($1103) | 4.2% | 6.0% | 6.9% | 5.4% | 3.5% |
| |
|---|
| Median (15 companies) | 1.1% | -0.1% | 6.9% | -10.9% | 6.5% |
|---|
| COSCO International Holdings Ltd ($517) | 3.1% | 2.3% | 3.5% | 4.2% | |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| MIE Holdings Corp ($1555) | 52.2% | 43.3% | 44.1% | 62.4% | |
| United Energy Group Ltd ($467) | 37.2% | 62.7% | 42.4% | 49.1% | |
| CNOOC Ltd ($883) | | 30.3% | 34.8% | 39.5% | 35.1% |
| Zhongyu Gas Holdings Ltd ($3633) | 8.2% | 17.8% | 18.9% | 22.9% | |
| Kunlun Energy Co Ltd ($135) | 46.7% | 35.5% | 19.9% | 14.2% | |
| |
|---|
| Median (15 companies) | 15.9% | 12.8% | 11.0% | 7.9% | 3.1% |
|---|
| COSCO International Holdings Ltd ($517) | 0.1% | 0.4% | 1.9% | 2.9% | |
Top companies by ROIC, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Shanghai Tonva Petrochemical Co Ltd ($1103) | 7.3% | 12.6% | 13.0% | 13.9% | 9.6% |
| Brightoil Petroleum Holdings Ltd ($933) | 4.2% | -4.4% | 6.5% | 13.8% | 6.7% |
| Zhongyu Gas Holdings Ltd ($3633) | 17.4% | 15.0% | 12.3% | 8.2% | |
| Kunlun Energy Co Ltd ($135) | 13.0% | 12.6% | 11.0% | 7.7% | |
| CNOOC Ltd ($883) | | 18.1% | 15.8% | 3.2% | -0.6% |
| |
|---|
| Median (17 companies) | -1.0% | -0.0% | -0.6% | -3.7% | 3.3% |
|---|
| COSCO International Holdings Ltd ($517) | 3.8% | 2.4% | 2.9% | 2.8% | |
Top companies by Net Debt / EBITDA
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Zhongyu Gas Holdings Ltd ($3633) | 1.6x | 2.3x | 3.7x | 4.8x | |
| Brightoil Petroleum Holdings Ltd ($933) | 8.9x | | 3.1x | 2.9x | 2.6x |
| Shanghai Tonva Petrochemical Co Ltd ($1103) | 6.0x | 4.3x | 3.6x | 2.8x | 3.5x |
| China CBM Group Co Ltd ($8270) | 3.2x | | 3.3x | 2.1x | |
| CNOOC Ltd ($883) | | 0.9x | 0.9x | 1.7x | 2.1x |
| |
|---|
| Median (6 companies) | 1.7x | 1.0x | 3.2x | 2.4x | 2.6x |
|---|
| COSCO International Holdings Ltd ($517) | -17.4x | -27.9x | -22.2x | -24.4x | |
