National Arts Entertainment and Culture Group Ltd revenue growth decelerated to 44.4% in FY2016 vs. 162% a year earliner
23/03/2017 • About National Arts Entertainment and Culture Group Ltd (
$8228) • By InTwits
National Arts Entertainment and Culture Group Ltd reported FY2016 financial results today. Overall the company's long term financial model is characterised by the following facts:
- National Arts Entertainment and Culture Group Ltd spends a lot for Stock Based Compensation (SBC): average SBC/Revenue for FY2012-FY2016 is 0.0%. Average EBITDA Margin for the same period was -122.3%0
- It operates with high leverage: Net Debt/EBITDA is 1.0x while industry average is -3.8x
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
National Arts Entertainment and Culture Group Ltd ($8228) key annual financial indicators
| mln. HKD | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
|---|
P&L
|
|---|
| Revenue | 6.789 | 19.094 | 15.260 | 40.038 | 57.827 | 44.4% |
| EBITDA | 5.897 | -21.743 | -68.024 | -86.149 | | |
| Net Income | -12.917 | -20.614 | -148.913 | -264.828 | -327.091 | |
Balance Sheet
|
|---|
| Cash | 157.517 | 8.007 | 7.406 | 12.705 | | -100.0% |
| Short Term Debt | 40.361 | 58.796 | 331.316 | 473.096 | | -100.0% |
| Long Term Debt | 15.652 | 458.662 | 201.285 | 708.972 | | -100.0% |
Cash flow
|
|---|
| Capex | 83.985 | 147.233 | 121.921 | 203.762 | | -100.0% |
Ratios
|
|---|
| Revenue growth | -57.9% | 181.2% | -20.1% | 162.4% | 44.4% | |
| EBITDA growth | -139.7% | -468.7% | 212.9% | 26.6% | | |
| EBITDA Margin | 86.9% | -113.9% | -445.8% | -215.2% | 0.0% | 215.2% |
| Net Income Margin | -190.3% | -108.0% | -975.8% | -661.4% | -565.6% | 95.8% |
| CAPEX, % of revenue | 1,237.1% | 771.1% | 799.0% | 508.9% | | -508.9% |
| ROIC | 0.2% | -2.3% | -4.7% | -7.3% | | 7.3% |
| ROE | -3.0% | -3.2% | -16.7% | -26.4% | | 26.4% |
| Net Debt/EBITDA | -17.2x | | | | | 0.0x |
Revenue and profitability
National Arts Entertainment and Culture Group Ltd's Revenue jumped on 44.4%.
Net Income marign jumped on 95.8 pp from -661% to -566% in FY2016.
Appendix 1: Peers in Entertainment
Below we provide National Arts Entertainment and Culture Group Ltd benchmarking against other companies in Entertainment 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 |
|---|
| Neo Telemedia Ltd ($8167) | 268.8% | -60.2% | -13.4% | 5,442.4% | |
| Alibaba Pictures Group Ltd ($1060) | 169.4% | -45.8% | -63.8% | 108.3% | |
| SMI Holdings Group Ltd ($198) | 16.4% | 65.4% | 16.4% | 77.2% | |
| Universe International Holdings Ltd ($1046) | | 4.3% | 159.4% | 46.3% | -97.5% |
| China Animation Characters Co Ltd ($1566) | | -3.0% | 19.5% | 44.1% | 11.6% |
| |
|---|
| Median (27 companies) | 8.7% | 10.4% | 1.2% | -4.8% | 3.2% |
|---|
| National Arts Entertainment and Culture Group Ltd ($8228) | | 181.2% | -20.1% | 162.4% | 44.4% |
Top companies by Gross margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Amax International Holdings Ltd ($959) | | 92.1% | 98.6% | 96.6% | 70.6% |
| China Vanguard Group Ltd ($8156) | 63.8% | 88.2% | 93.8% | 95.2% | 91.0% |
| Universe International Holdings Ltd ($1046) | 22.1% | 36.7% | 11.4% | 84.8% | -635.1% |
| Cheung Wo International Holdings Ltd ($9) | -17.5% | 71.4% | 77.7% | 77.8% | |
| REXLot Holdings Ltd ($555) | 70.2% | 73.1% | 73.4% | 67.4% | |
| |
|---|
| Median (24 companies) | 42.8% | 48.7% | 44.1% | 42.7% | 36.4% |
|---|
Top companies by EBITDA margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Neptune Group Ltd ($70) | 98.6% | 98.6% | 86.6% | 99.0% | 76.3% |
| Universe International Holdings Ltd ($1046) | 36.6% | 44.6% | 74.6% | 73.6% | -1,418.4% |
| Haichang Holdings Ltd ($2255) | 55.0% | 44.5% | 46.3% | 56.6% | |
| REXLot Holdings Ltd ($555) | 53.7% | 55.1% | 6.1% | 40.5% | |
| SMI Holdings Group Ltd ($198) | 19.2% | 35.4% | 34.5% | 31.2% | |
| |
|---|
| Median (27 companies) | 20.2% | 20.3% | 19.5% | 2.2% | -11.0% |
|---|
| National Arts Entertainment and Culture Group Ltd ($8228) | 86.9% | -113.9% | -445.8% | -215.2% | |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| China Star Cultural Media Group Ltd ($8172) | 8.9% | 0.0% | 0.0% | 848.3% | |
| Cheung Wo International Holdings Ltd ($9) | 90.3% | 465.2% | 383.2% | 202.4% | |
| Haichang Holdings Ltd ($2255) | 21.4% | 18.5% | 10.3% | 64.2% | |
| Amax International Holdings Ltd ($959) | 10.4% | 2.7% | 17.2% | 59.8% | 42.5% |
| Pegasus Entertainment Holdings Ltd ($1326) | 0.1% | 0.7% | 0.1% | 30.6% | 0.3% |
| |
|---|
| Median (27 companies) | 8.5% | 6.6% | 4.6% | 8.1% | 4.3% |
|---|
| National Arts Entertainment and Culture Group Ltd ($8228) | 1,237.1% | 771.1% | 799.0% | 508.9% | |
Top companies by ROIC, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Universe International Holdings Ltd ($1046) | -6.2% | -0.8% | -3.7% | 43.8% | -17.0% |
| China Animation Characters Co Ltd ($1566) | | 119.2% | 117.8% | 24.1% | 14.0% |
| Neptune Group Ltd ($70) | 22.8% | 23.8% | 21.1% | 18.1% | 0.3% |
| SMI Holdings Group Ltd ($198) | 1.3% | 8.4% | 9.9% | 10.5% | |
| Dynam Japan Holdings Co Ltd ($6889) | 23.8% | 25.4% | 21.8% | 10.5% | 12.6% |
| |
|---|
| Median (28 companies) | -1.1% | 5.1% | 0.7% | -1.7% | -5.9% |
|---|
| National Arts Entertainment and Culture Group Ltd ($8228) | 0.2% | -2.3% | -4.7% | -7.3% | |
Top companies by Net Debt / EBITDA
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Orange Sky Golden Harvest Entertainment Holdings Ltd ($1132) | 1.1x | 4.2x | 2.7x | 25.8x | |
| Nan Hai Corp Ltd ($680) | 80.8x | 3.5x | 20.8x | 12.6x | 4.5x |
| Haichang Holdings Ltd ($2255) | 7.0x | 4.7x | 1.7x | 1.7x | |
| SMI Holdings Group Ltd ($198) | 2.0x | 1.6x | 2.1x | 1.6x | |
| REXLot Holdings Ltd ($555) | -0.0x | -0.2x | 7.2x | 1.6x | |
| |
|---|
| Median (14 companies) | -0.1x | -0.5x | -0.3x | -0.5x | -0.4x |
|---|
