Asiaray Media Group Ltd revenue increased on 4.6%
24/03/2017 • About Asiaray Media Group Ltd (
$1993) • By InTwits
Asiaray Media Group Ltd 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 42.7x while industry average is -5.5x.
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Asiaray Media Group Ltd ($1993) key annual financial indicators
| mln. HKD | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
|---|
P&L
|
|---|
| Revenue | 953 | 1,211 | 1,321 | 1,406 | 1,471 | 4.6% |
| Gross Profit | 224 | 365 | 445 | 290 | | -100.0% |
| SG&A | 136 | 170 | 228 | 267 | | -100.0% |
| EBITDA | 121 | 234 | 260 | 16 | | -100.0% |
| Net Income | 60 | 129 | 143 | -40 | 16 | |
Balance Sheet
|
|---|
| Cash | 164 | 201 | 136 | 324 | | -100.0% |
| Short Term Debt | 52 | 116 | 112 | 17 | | -100.0% |
| Long Term Debt | 14 | 10 | 9 | 7 | | -100.0% |
Cash flow
|
|---|
| Capex | 58 | 37 | 29 | 24 | | -100.0% |
Ratios
|
|---|
| Revenue growth | 32.8% | 27.1% | 9.0% | 6.5% | 4.6% | |
| EBITDA growth | 807.1% | 93.9% | 11.1% | -93.9% | | |
| Gross Margin | 23.5% | 30.1% | 33.7% | 20.6% | | -20.6% |
| EBITDA Margin | 12.6% | 19.3% | 19.7% | 1.1% | 0.0% | -1.1% |
| Net Income Margin | 6.3% | 10.7% | 10.8% | -2.8% | 1.1% | 3.9% |
| SG&A, % of revenue | 14.3% | 14.1% | 17.2% | 19.0% | | -19.0% |
| CAPEX, % of revenue | 6.1% | 3.0% | 2.2% | 1.7% | | -1.7% |
| ROIC | 146.0% | 98.2% | 74.2% | -3.4% | | 3.4% |
| ROE | | 146.9% | 103.2% | -10.3% | | 10.3% |
| Net Debt/EBITDA | -0.8x | -0.3x | -0.1x | -18.9x | | 18.9x |
Revenue and profitability
Asiaray Media Group Ltd's Revenue increased on 4.6%.
Net Income marign increased on 3.9 pp from -2.8% to 1.1% in FY2016.
Appendix 1: Peers in Advertising
Below we provide Asiaray Media Group Ltd benchmarking against other companies in Advertising 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 |
|---|
| China Chuanglian Education Group Ltd ($2371) | -40.5% | 332.3% | -21.8% | 26.5% | |
| Dahe Media Co Ltd ($8243) | 5.8% | -5.7% | -1.6% | 8.8% | |
| Cinderella Media Group Ltd ($550) | | -63.6% | -89.2% | 4.9% | 53.6% |
| Branding China Group Ltd ($8219) | 11.3% | 84.6% | 12.0% | 4.5% | |
| Clear Media Ltd ($100) | | 8.2% | 6.9% | 4.1% | 2.5% |
| |
|---|
| Median (8 companies) | 5.8% | 7.9% | -4.5% | 4.3% | 2.5% |
|---|
| Asiaray Media Group Ltd ($1993) | | 27.1% | 9.0% | 6.5% | 4.6% |
Top companies by Gross margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Cinderella Media Group Ltd ($550) | 26.3% | 26.7% | 72.1% | 72.8% | |
| China Chuanglian Education Group Ltd ($2371) | -2,833.2% | 74.2% | 68.5% | 64.3% | |
| SEEC Media Group Ltd ($205) | 61.7% | 58.4% | 52.0% | 51.6% | |
| Clear Media Ltd ($100) | 38.3% | 40.4% | 41.2% | 43.9% | 44.2% |
| Dahe Media Co Ltd ($8243) | 35.3% | 36.7% | 40.7% | 29.5% | |
| |
|---|
| Median (7 companies) | 35.3% | 36.7% | 41.2% | 43.9% | 44.2% |
|---|
| Asiaray Media Group Ltd ($1993) | 23.5% | 30.1% | 33.7% | 20.6% | |
Top companies by EBITDA margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Clear Media Ltd ($100) | 41.0% | 40.9% | 41.3% | 44.0% | 43.9% |
| Dahe Media Co Ltd ($8243) | 16.0% | 15.3% | 19.4% | 17.2% | |
| Branding China Group Ltd ($8219) | 30.3% | 26.2% | 18.6% | 17.0% | |
| SinoMedia Holding Ltd ($623) | 27.3% | 30.5% | 24.9% | 16.7% | |
| Cinderella Media Group Ltd ($550) | 18.2% | 18.3% | 43.6% | 10.3% | |
| |
|---|
| Median (8 companies) | 20.4% | 26.3% | 22.7% | 13.5% | 43.9% |
|---|
| Asiaray Media Group Ltd ($1993) | 12.6% | 19.3% | 19.7% | 1.1% | |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Clear Media Ltd ($100) | 0.6% | 0.5% | 0.6% | 28.0% | 19.0% |
| China Chuanglian Education Group Ltd ($2371) | 1.2% | 5.0% | 0.7% | 14.2% | |
| Roadshow Holdings Ltd ($888) | 2.1% | 2.8% | 1.5% | 3.8% | |
| Cinderella Media Group Ltd ($550) | 1.5% | 5.1% | 6.8% | 2.7% | |
| SEEC Media Group Ltd ($205) | 0.9% | 0.4% | 1.1% | 1.3% | |
| |
|---|
| Median (8 companies) | 1.0% | 1.7% | 1.2% | 2.0% | 19.0% |
|---|
| Asiaray Media Group Ltd ($1993) | 6.1% | 3.0% | 2.2% | 1.7% | |
Top companies by ROIC, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Clear Media Ltd ($100) | 9.2% | 10.8% | 12.4% | 14.4% | 14.9% |
| Branding China Group Ltd ($8219) | 29.0% | 23.6% | 13.7% | 12.0% | |
| SinoMedia Holding Ltd ($623) | 34.8% | 33.8% | 20.8% | 9.6% | |
| Dahe Media Co Ltd ($8243) | 6.9% | 5.3% | 6.9% | 6.8% | |
| Cinderella Media Group Ltd ($550) | 24.6% | 6.7% | 2.3% | 2.7% | |
| |
|---|
| Median (8 companies) | 11.8% | 11.6% | 9.4% | 4.7% | 14.9% |
|---|
| Asiaray Media Group Ltd ($1993) | 146.0% | 98.2% | 74.2% | -3.4% | |
Top companies by Net Debt / EBITDA
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Dahe Media Co Ltd ($8243) | 1.3x | 1.7x | 2.3x | 3.0x | |
| Clear Media Ltd ($100) | -2.1x | -1.3x | -1.4x | -0.9x | -0.7x |
| SinoMedia Holding Ltd ($623) | -3.2x | -2.0x | -1.6x | -1.9x | |
| Branding China Group Ltd ($8219) | -1.8x | -1.4x | -1.6x | -2.7x | |
| Cinderella Media Group Ltd ($550) | -1.1x | -3.1x | -5.5x | -14.1x | |
| |
|---|
| Median (6 companies) | -1.6x | -1.4x | -1.6x | -2.3x | -0.7x |
|---|
| Asiaray Media Group Ltd ($1993) | -0.8x | -0.3x | -0.1x | -18.9x | |
