Shougang Fushan Resources Group Ltd reports 127% Net Income growth in 2016
23/03/2017 • About Shougang Fushan Resources Group Ltd (
$639) • By InTwits
Shougang Fushan Resources Group Ltd reported FY2016 financial results today. Overall the company's long term financial model is characterised by the following facts:
- Shougang Fushan Resources Group Ltd is a company in decline: FY2016 revenue growth was -9.4%, 5 years revenue CAGR was -24.0%
- EBITDA Margin is declining: in FY2016 vs. -18.0% in FY2015 vs. 57.8% in FY2012
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Shougang Fushan Resources Group Ltd ($639) key annual financial indicators
| mln. HKD | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
|---|
P&L
|
|---|
| Revenue | 5,651 | 4,268 | 3,255 | 1,997 | 1,810 | -9.4% |
| Gross Profit | 3,586 | 2,173 | 1,304 | 488 | | -100.0% |
| SG&A | 640 | 461 | 558 | 391 | | -100.0% |
| EBITDA | 3,268 | 2,094 | 280 | -360 | | |
| Net Income | 1,800 | 1,115 | -425 | -416 | 112 | |
Balance Sheet
|
|---|
| Cash | 2,981 | 137 | 88 | 52 | | -100.0% |
| Short Term Debt | 1,073 | 578 | 74 | 0 | | |
| Long Term Debt | 0 | 0 | 0 | 0 | | |
Cash flow
|
|---|
| Capex | 474 | 283 | 290 | 245 | | -100.0% |
Ratios
|
|---|
| Revenue growth | -20.8% | -24.5% | -23.7% | -38.7% | -9.4% | |
| EBITDA growth | -22.7% | -35.9% | -86.6% | -228.6% | | |
| Gross Margin | 63.5% | 50.9% | 40.1% | 24.5% | | -24.5% |
| EBITDA Margin | 57.8% | 49.1% | 8.6% | -18.0% | 0.0% | 18.0% |
| Net Income Margin | 31.9% | 26.1% | -13.1% | -20.9% | 6.2% | 27.0% |
| SG&A, % of revenue | 11.3% | 10.8% | 17.1% | 19.6% | | -19.6% |
| CAPEX, % of revenue | 8.4% | 6.6% | 8.9% | 12.3% | | -12.3% |
| ROIC | 11.2% | 6.2% | -1.1% | -3.9% | | 3.9% |
| ROE | 9.4% | 5.7% | -2.2% | -2.5% | | 2.5% |
| Net Debt/EBITDA | -0.6x | 0.2x | -0.0x | | | 0.0x |
Revenue and profitability
The company's Revenue decreased on 9.4%.
Net Income marign jumped on 27.0 pp from -20.9% to 6.2% in FY2016.
Appendix 1: Peers in Coal
Below you can find Shougang Fushan Resources Group 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 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Sino Resources Group Ltd ($223) | | -44.8% | 14.7% | 354.5% | 0.4% |
| Asia Coal Ltd ($835) | | -15.3% | 43.2% | 133.6% | -60.1% |
| Dowell Property Holdings Ltd ($668) | -19.2% | -55.7% | -35.8% | 83.2% | |
| Capital Finance Holdings Ltd ($8239) | | -5.2% | -5.5% | 70.6% | -27.2% |
| Up Energy Development Group Ltd ($307) | | | | 60.5% | |
| |
|---|
| Median (22 companies) | -12.7% | -7.8% | -5.5% | -19.5% | -12.4% |
|---|
| Shougang Fushan Resources Group Ltd ($639) | | -24.5% | -23.7% | -38.7% | -9.4% |
Top companies by Gross margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Capital Finance Holdings Ltd ($8239) | 6.4% | 7.2% | 8.7% | 98.2% | |
| Nan Nan Resources Enterprise Ltd ($1229) | 23.9% | 17.6% | 18.1% | 44.3% | 41.0% |
| Agritrade Resources Ltd ($1131) | 22.9% | 29.4% | 31.8% | 30.0% | 30.9% |
| Inner Mongolia Yitai Coal Co Ltd ($3948) | 35.2% | 33.7% | 27.4% | 19.2% | |
| Yanzhou Coal Mining Co Ltd ($1171) | 21.7% | 18.9% | 18.4% | 16.9% | |
| |
|---|
| Median (21 companies) | 19.8% | 15.6% | 8.7% | 2.8% | 7.1% |
|---|
| Shougang Fushan Resources Group Ltd ($639) | 63.5% | 50.9% | 40.1% | 24.5% | |
Top companies by EBITDA margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Capital Finance Holdings Ltd ($8239) | -27.2% | -23.7% | -56.2% | 71.5% | |
| Nan Nan Resources Enterprise Ltd ($1229) | 19.1% | 14.1% | -0.2% | 40.5% | 24.1% |
| Agritrade Resources Ltd ($1131) | 41.6% | 37.3% | 33.4% | 31.1% | 56.3% |
| Feishang Anthracite Resources Ltd ($1738) | -13.1% | -32.9% | 19.0% | 15.9% | |
| Kinetic Mines and Energy Ltd ($1277) | -277.0% | -51.9% | 29.3% | 15.8% | |
| |
|---|
| Median (22 companies) | -3.8% | -7.8% | -11.6% | -17.0% | 4.1% |
|---|
| Shougang Fushan Resources Group Ltd ($639) | 57.8% | 49.1% | 8.6% | -18.0% | |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Siberian Mining Group Co Ltd ($1142) | 4.6% | 78.8% | 217.3% | 279.7% | 23.0% |
| Feishang Anthracite Resources Ltd ($1738) | 244.9% | 159.7% | 80.9% | 90.2% | |
| Up Energy Development Group Ltd ($307) | | | 279.5% | 75.2% | |
| King Stone Energy Group Ltd ($663) | 58.5% | 135.3% | 205.7% | 69.3% | |
| SouthGobi Resources Ltd ($1878) | 124.8% | 20.2% | 11.5% | 52.6% | |
| |
|---|
| Median (20 companies) | 14.9% | 26.3% | 20.6% | 20.3% | 11.2% |
|---|
| Shougang Fushan Resources Group Ltd ($639) | 8.4% | 6.6% | 8.9% | 12.3% | |
Top companies by ROIC, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Capital Finance Holdings Ltd ($8239) | -25.1% | -14.9% | -26.9% | 21.0% | |
| Nan Nan Resources Enterprise Ltd ($1229) | 6.4% | 1.6% | -1.2% | 10.0% | 1.5% |
| Agritrade Resources Ltd ($1131) | 2.7% | 5.8% | 6.4% | 6.9% | 9.4% |
| Kinetic Mines and Energy Ltd ($1277) | -6.6% | -5.7% | 8.5% | 3.2% | |
| Inner Mongolia Yitai Coal Co Ltd ($3948) | 28.5% | 15.2% | 8.5% | 2.0% | |
| |
|---|
| Median (22 companies) | -3.2% | -3.8% | -5.7% | -5.8% | -2.5% |
|---|
| Shougang Fushan Resources Group Ltd ($639) | 11.2% | 6.2% | -1.1% | -3.9% | |
Top companies by Net Debt / EBITDA
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Feishang Anthracite Resources Ltd ($1738) | | | 24.3x | 32.6x | |
| China Coal Energy Co Ltd ($1898) | 1.9x | 4.9x | 9.7x | 14.4x | 7.2x |
| Inner Mongolia Yitai Coal Co Ltd ($3948) | 0.4x | 1.7x | 3.5x | 9.8x | |
| Yanzhou Coal Mining Co Ltd ($1171) | 2.9x | 6.2x | 4.9x | 9.0x | |
| Kinetic Mines and Energy Ltd ($1277) | | | 4.5x | 5.9x | |
| |
|---|
| Median (8 companies) | 4.4x | 4.9x | 4.9x | 7.5x | 4.0x |
|---|
