China Energy Development Holdings Ltd reports 1,071 pp EBITDA Margin decline from 1,071% to in 2016 in 2016
24/03/2017 • About China Energy Development Holdings Ltd (
$228) • By InTwits
China Energy Development Holdings Ltd reported FY2016 financial results today. Overall the company's long term financial model is characterised by the following facts:
- China Energy Development Holdings Ltd is a company in decline: FY2016 revenue growth was -84.9%, 5 years revenue CAGR was -56.8%
- China Energy Development Holdings 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 -10.2%0
- It operates with high leverage: Net Debt/EBITDA is 7.0x while industry average is 0.5x
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
China Energy Development Holdings Ltd ($228) key annual financial indicators
| mln. HKD | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
|---|
P&L
|
|---|
| Revenue | 61.951 | 36.687 | 37.261 | 7.399 | 1.117 | -84.9% |
| Gross Profit | | | 2.940 | 2.118 | | -100.0% |
| EBITDA | -36.023 | -26.537 | -31.317 | 79.212 | | -100.0% |
| Net Income | -36.345 | -44.219 | -36.654 | -1,281.440 | -162.688 | |
Balance Sheet
|
|---|
| Cash | 316.354 | 317.452 | 370.735 | 204.278 | | -100.0% |
| Short Term Debt | 0.000 | 0.000 | 0.000 | 0.000 | | |
| Long Term Debt | 110.320 | 122.256 | 135.484 | 52.234 | | -100.0% |
Cash flow
|
|---|
| Capex | 0.967 | 0.060 | 0.000 | 2.030 | | -100.0% |
Ratios
|
|---|
| Revenue growth | -16.1% | -40.8% | 1.6% | -80.1% | -84.9% | |
| EBITDA growth | 10.2% | -26.3% | 18.0% | -352.9% | | |
| Gross Margin | | | 7.9% | 28.6% | | -28.6% |
| EBITDA Margin | -58.1% | -72.3% | -84.0% | 1,070.6% | 0.0% | -1,070.6% |
| Net Income Margin | -58.7% | -120.5% | -98.4% | -17,319.1% | -14,564.7% | 2,754.4% |
| CAPEX, % of revenue | 1.6% | 0.2% | 0.0% | 27.4% | | -27.4% |
| ROIC | -1.1% | -0.8% | -0.9% | 2.8% | | -2.8% |
| ROE | -1.1% | -1.3% | -1.0% | -45.4% | | 45.4% |
| Net Debt/EBITDA | | | | -1.9x | | 1.9x |
Revenue and profitability
The company's Revenue dropped on 84.9%.
Net Income marign surged on 2,754 pp from -17,319% to -14,565% in FY2016.
Appendix 1: Peers in Retail
Below we provide China Energy Development Holdings Ltd benchmarking against other companies in Retail 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 Nuclear Industry 23 International Corp Ltd ($611) | | 85.6% | -42.1% | 419.8% | 21.8% |
| Noble House China Holdings Ltd ($8246) | | -20.2% | -24.8% | 117.2% | 129.1% |
| Vongroup Ltd ($318) | | 23.7% | -80.2% | 90.3% | -7.2% |
| Nanjing Sinolife United Co Ltd ($3332) | 45.6% | 29.5% | 29.6% | 57.3% | |
| Shanghai La Chapelle Fashion Co Ltd ($6116) | | 72.8% | 23.0% | 48.3% | 12.5% |
| |
|---|
| Median (117 companies) | 10.5% | 6.5% | 3.1% | -1.0% | -3.3% |
|---|
| China Energy Development Holdings Ltd ($228) | | -40.8% | 1.6% | -80.1% | -84.9% |
Top companies by Gross margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Vongroup Ltd ($318) | | | 95.1% | 99.1% | 99.0% |
| Modern Beauty Salon Holdings Ltd ($919) | 97.4% | 95.9% | 96.8% | 96.7% | 96.8% |
| Moiselle International Holdings Ltd ($130) | 81.2% | 83.8% | 80.6% | 83.2% | 77.6% |
| Embry Holdings Ltd ($1388) | 81.2% | 80.4% | 82.3% | 81.6% | |
| Nanjing Sinolife United Co Ltd ($3332) | 86.5% | 89.3% | 90.9% | 80.6% | |
| |
|---|
| Median (103 companies) | 36.7% | 36.3% | 35.5% | 33.9% | 43.8% |
|---|
| China Energy Development Holdings Ltd ($228) | | | 7.9% | 28.6% | |
Top companies by EBITDA margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Golden Eagle Retail Group Ltd ($3308) | 48.5% | 47.3% | 42.8% | 55.4% | |
| Nanjing Sinolife United Co Ltd ($3332) | 51.6% | 56.9% | 54.4% | 44.8% | |
| Lifestyle International Holdings Ltd ($1212) | 47.5% | 47.0% | 44.7% | 43.4% | 46.3% |
| China Dongxiang Group Co Ltd ($3818) | 6.0% | 5.6% | 58.3% | 41.4% | 61.6% |
| Maoye International Holdings Ltd ($848) | 47.4% | 46.3% | 73.2% | 39.6% | |
| |
|---|
| Median (117 companies) | 10.8% | 7.8% | 9.1% | 7.1% | 6.8% |
|---|
| China Energy Development Holdings Ltd ($228) | -58.1% | -72.3% | -84.0% | 1,070.6% | |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Culture Landmark Investment Ltd ($674) | 11.6% | 19.4% | 15.7% | 47.2% | 3.9% |
| Springland International Holdings Ltd ($1700) | 31.9% | 17.4% | 26.5% | 36.9% | |
| Merry Garden Holdings Ltd ($1237) | 18.6% | 28.6% | 15.1% | 34.2% | |
| Golden Eagle Retail Group Ltd ($3308) | 28.5% | 9.4% | 26.7% | 25.4% | |
| Future Bright Holdings Ltd ($703) | 2.6% | 3.7% | 36.8% | 24.9% | |
| |
|---|
| Median (117 companies) | 4.1% | 3.6% | 3.8% | 3.1% | 2.1% |
|---|
| China Energy Development Holdings Ltd ($228) | 1.6% | 0.2% | 0.0% | 27.4% | |
Top companies by ROIC, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Modern Beauty Salon Holdings Ltd ($919) | 50.7% | -4.6% | 81.3% | 71.8% | 13.3% |
| JC Group Holdings Ltd ($8326) | | 215.6% | 92.8% | 66.3% | 81.7% |
| Starbucks Corp ($4337) | 36.4% | -6.0% | 52.8% | 51.4% | 46.2% |
| Sa Sa International Holdings Ltd ($178) | 53.5% | 52.7% | 49.0% | 39.8% | 19.0% |
| Noble House China Holdings Ltd ($8246) | 17.7% | -67.7% | -113.8% | 35.6% | 68.8% |
| |
|---|
| Median (117 companies) | 12.3% | 8.9% | 8.7% | 5.8% | 6.9% |
|---|
| China Energy Development Holdings Ltd ($228) | -1.1% | -0.8% | -0.9% | 2.8% | |
Top companies by Net Debt / EBITDA
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Sparkle Roll Group Ltd ($970) | 0.6x | 4.0x | 9.3x | 23.5x | 8.5x |
| Trinity Ltd ($891) | -0.2x | 0.2x | 0.6x | 18.2x | |
| Parkson Retail Group Ltd ($3368) | 0.8x | 2.3x | 3.6x | 9.8x | 11.1x |
| Maoye International Holdings Ltd ($848) | 2.9x | 3.3x | 3.4x | 9.0x | |
| Century Ginwa Retail Holdings Ltd ($162) | 2.0x | 2.5x | 4.8x | 7.3x | |
| |
|---|
| Median (91 companies) | -0.5x | -0.6x | -0.2x | -0.5x | -0.4x |
|---|
| China Energy Development Holdings Ltd ($228) | | | | -1.9x | |
