Hilong Holding Ltd EBITDA Margin dropped on 22.7 pp from 22.7% to in 2016
24/03/2017 • About Hilong Holding Ltd (
$1623) • By InTwits
Hilong Holding Ltd reported FY2016 financial results today. Overall the company's long term financial model is characterised by the following facts: It operates with medium-size leverage: Net Debt/EBITDA is 5.8x while industry average is 5.1x.
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Hilong Holding Ltd ($1623) key annual financial indicators
| mln. CNY | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
|---|
P&L
|
|---|
| Revenue | 2,264 | 2,452 | 2,576 | 2,484 | 1,929 | -22.4% |
| Gross Profit | 895 | 988 | 1,021 | 810 | | -100.0% |
| SG&A | 334 | 328 | 409 | 403 | | -100.0% |
| EBITDA | 586 | 682 | 742 | 564 | | -100.0% |
| Net Income | 345 | 345 | 398 | 161 | 125 | -22.6% |
Balance Sheet
|
|---|
| Cash | 404 | 391 | 548 | 821 | | -100.0% |
| Short Term Debt | 646 | 654 | 833 | 1,592 | | -100.0% |
| Long Term Debt | 293 | 507 | 1,630 | 1,084 | | -100.0% |
Cash flow
|
|---|
| Capex | 377 | 463 | 1,239 | 239 | | -100.0% |
Ratios
|
|---|
| Revenue growth | 23.5% | 8.3% | 5.0% | -3.6% | -22.4% | |
| EBITDA growth | 12.2% | 16.3% | 8.8% | -24.1% | | |
| Gross Margin | 39.5% | 40.3% | 39.6% | 32.6% | | -32.6% |
| EBITDA Margin | 25.9% | 27.8% | 28.8% | 22.7% | 0.0% | -22.7% |
| Net Income Margin | 15.2% | 14.1% | 15.4% | 6.5% | 6.5% | -0.0% |
| SG&A, % of revenue | 14.7% | 13.4% | 15.9% | 16.2% | | -16.2% |
| CAPEX, % of revenue | 16.7% | 18.9% | 48.1% | 9.6% | | -9.6% |
| ROIC | 15.5% | 14.8% | 12.0% | 6.0% | | -6.0% |
| ROE | 17.3% | 14.4% | 14.3% | 5.4% | | -5.4% |
| Net Debt/EBITDA | 0.9x | 1.1x | 2.6x | 3.3x | | -3.3x |
Revenue and profitability
The company's Revenue dropped on 22.4%.
Net Income marign showed almost no change in FY2016.
Management team
Zhang Jun is a Hilong Holding Ltd's CEO. Zhang Jun has spent 8 years at the company.
Appendix 1: Peers in Oil&Gas Services
Below you can find Hilong Holding Ltd benchmarking vs. other companies in Oil&Gas Services 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 |
|---|
| Hans Energy Co Ltd ($554) | 40.8% | 8.0% | -4.0% | 5.5% | |
| Sinopec Engineering Group Co Ltd ($2386) | | 13.1% | 13.3% | -7.8% | -13.5% |
| Petro-King Oilfield Services Ltd ($2178) | | 0.3% | -33.5% | -10.5% | -37.8% |
| Anton Oilfield Services Group/Hong Kong ($3337) | 59.2% | 26.4% | -18.2% | -11.5% | |
| CIMC Enric Holdings Ltd ($3899) | | -0.3% | 39.7% | -26.9% | -3.3% |
| |
|---|
| Median (12 companies) | 27.5% | 11.5% | 1.4% | -28.7% | -15.8% |
|---|
| Hilong Holding Ltd ($1623) | | 8.3% | 5.0% | -3.6% | -22.4% |
Top companies by Gross margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Sinopec Kantons Holdings Ltd ($934) | 1.1% | 0.7% | 4.4% | 41.1% | |
| Anton Oilfield Services Group/Hong Kong ($3337) | 45.0% | 44.3% | 31.2% | 31.8% | |
| TSC Group Holdings Ltd ($206) | 30.7% | 31.6% | 27.8% | 27.9% | |
| Jutal Offshore Oil Services Ltd ($3303) | 21.7% | 25.1% | 19.6% | 19.6% | |
| CIMC Enric Holdings Ltd ($3899) | 19.5% | 20.4% | 18.8% | 18.6% | |
| |
|---|
| Median (9 companies) | 14.3% | 14.7% | 12.7% | 18.6% | 1.5% |
|---|
| Hilong Holding Ltd ($1623) | 39.5% | 40.3% | 39.6% | 32.6% | |
Top companies by EBITDA margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Sinopec Kantons Holdings Ltd ($934) | 1.5% | 0.9% | 6.6% | 63.8% | |
| Hans Energy Co Ltd ($554) | 40.4% | 45.0% | 42.8% | 42.7% | |
| China Oilfield Services Ltd ($2883) | 39.8% | 40.0% | 37.0% | 25.2% | -46.7% |
| Anton Oilfield Services Group/Hong Kong ($3337) | 24.5% | 28.0% | 12.5% | 17.2% | |
| CIMC Enric Holdings Ltd ($3899) | 13.1% | 14.0% | 12.5% | 10.6% | |
| |
|---|
| Median (12 companies) | 12.4% | 14.0% | 11.0% | 8.6% | -22.9% |
|---|
| Hilong Holding Ltd ($1623) | 25.9% | 27.8% | 28.8% | 22.7% | |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| China Oilfield Services Ltd ($2883) | 16.5% | 30.9% | 29.8% | 25.3% | 14.2% |
| SPT Energy Group Inc ($1251) | 7.4% | 5.6% | 7.9% | 23.5% | |
| Sinopec Kantons Holdings Ltd ($934) | 0.8% | 1.7% | 6.7% | 15.8% | |
| Petro-King Oilfield Services Ltd ($2178) | 13.3% | 13.3% | 75.4% | 12.3% | |
| Anton Oilfield Services Group/Hong Kong ($3337) | 12.6% | 32.2% | 22.8% | 9.5% | |
| |
|---|
| Median (12 companies) | 6.4% | 5.2% | 6.3% | 7.2% | 7.2% |
|---|
| Hilong Holding Ltd ($1623) | 16.7% | 18.9% | 48.1% | 9.6% | |
Top companies by ROIC, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Sinopec Engineering Group Co Ltd ($2386) | 77.5% | 33.3% | 18.6% | 15.3% | 7.8% |
| CIMC Enric Holdings Ltd ($3899) | 20.3% | 20.0% | 21.3% | 8.9% | |
| Sinopec Kantons Holdings Ltd ($934) | 3.5% | 0.4% | 6.0% | 5.0% | |
| Yuan Heng Gas Holdings Ltd ($332) | -59.8% | -0.0% | 25.6% | 3.9% | -0.4% |
| China Oilfield Services Ltd ($2883) | 8.9% | 11.2% | 11.6% | 2.1% | -14.3% |
| |
|---|
| Median (12 companies) | 7.8% | 10.1% | 7.9% | 1.8% | -0.4% |
|---|
| Hilong Holding Ltd ($1623) | 15.5% | 14.8% | 12.0% | 6.0% | |
Top companies by Net Debt / EBITDA
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Hans Energy Co Ltd ($554) | 14.0x | 11.9x | 12.9x | 11.3x | |
| Yuan Heng Gas Holdings Ltd ($332) | | | 2.7x | 8.9x | 18.1x |
| Anton Oilfield Services Group/Hong Kong ($3337) | 0.0x | 0.9x | 7.4x | 6.4x | |
| China Oilfield Services Ltd ($2883) | 2.7x | 1.9x | 1.8x | 3.9x | |
| Sinopec Kantons Holdings Ltd ($934) | -7.1x | -7.4x | 2.5x | 2.2x | |
| |
|---|
| Median (10 companies) | 0.0x | -0.4x | 1.8x | 2.1x | 18.1x |
|---|
| Hilong Holding Ltd ($1623) | 0.9x | 1.1x | 2.6x | 3.3x | |
