Honbridge Holdings Ltd reports 135% Net Income growth in 2016
24/03/2017 • About Honbridge Holdings Ltd (
$8137) • By InTwits
Honbridge Holdings Ltd reported FY2016 financial results today. Overall the company's long term financial model is characterised by the following facts:
- Honbridge Holdings Ltd is a company in decline: FY2016 revenue growth was -70.5%, 5 years revenue CAGR was -54.6%
- EBITDA Margin is relatively stable: in FY2016 vs. -1.3% in FY2015 vs. -15.0% in FY2012
- Honbridge Holdings Ltd motivates its personel by high Stock Based Compensation (SBC): average SBC/Revenue for FY2012-FY2016 was 0.0%. On average EBITDA Margin was -31.1% for the sames years0
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Honbridge Holdings Ltd ($8137) key annual financial indicators
| mln. HKD | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
|---|
P&L
|
|---|
| Revenue | 415.3 | 10.4 | 73.5 | 115.4 | 34.0 | -70.5% |
| Gross Profit | 2.9 | 7.6 | 21.5 | 23.7 | | -100.0% |
| SG&A | | 60.6 | 79.9 | 101.3 | | -100.0% |
| EBITDA | -62.4 | -96.2 | -41.7 | -1.5 | | |
| Net Income | -221.7 | 9,182.6 | -3,241.5 | -1,985.0 | 700.0 | |
Balance Sheet
|
|---|
| Cash | 2.4 | 86.1 | 57.1 | 1,228.7 | | -100.0% |
| Short Term Debt | 194.3 | 6.8 | 15.3 | 588.2 | | -100.0% |
| Long Term Debt | 600.4 | 662.5 | 709.6 | 0.0 | | |
Cash flow
|
|---|
| Capex | 0.5 | 5.2 | 0.7 | 11.7 | | -100.0% |
Ratios
|
|---|
| Revenue growth | -76.4% | -97.5% | 608.9% | 57.0% | -70.5% | |
| EBITDA growth | -1.6% | 54.1% | -56.6% | -96.4% | | |
| Gross Margin | 0.7% | 73.2% | 29.2% | 20.5% | | -20.5% |
| EBITDA Margin | -15.0% | -927.7% | -56.8% | -1.3% | 0.0% | 1.3% |
| Net Income Margin | -53.4% | 88,592.4% | -4,411.3% | -1,720.2% | 2,056.1% | 3,776.3% |
| SG&A, % of revenue | | 584.4% | 108.7% | 87.8% | | -87.8% |
| CAPEX, % of revenue | 0.1% | 50.6% | 1.0% | 10.1% | | -10.1% |
| ROIC | -3.6% | -1.3% | -0.5% | -1.1% | | 1.1% |
| ROE | -51.4% | 226.3% | -54.7% | -71.5% | | 71.5% |
Revenue and profitability
Honbridge Holdings Ltd's Revenue dropped on 70.5%.
Net Income marign jumped on 3,776 pp from -1,720% to 2,056% in FY2016.
Appendix 1: Peers in Semiconductors
Below we provide Honbridge Holdings Ltd benchmarking against other companies in Semiconductors 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 |
|---|
| Phoenitron Holdings Ltd ($8066) | | 4.0% | 243.8% | 405.3% | 2.8% |
| Jun Yang Solar Power Investments Ltd ($397) | -81.0% | 256.8% | 1.1% | 168.9% | |
| Shanghai Fudan Microelectronics Group Co Ltd ($1385) | 15.5% | 16.0% | 3.3% | 23.2% | |
| Shunfeng International Clean Energy Ltd ($1165) | -46.3% | 44.4% | 275.6% | 22.4% | |
| Comtec Solar Systems Group Ltd ($712) | 0.9% | -8.6% | -3.3% | 20.4% | |
| |
|---|
| Median (22 companies) | -27.9% | 3.8% | 10.4% | -0.6% | 8.6% |
|---|
| Honbridge Holdings Ltd ($8137) | | -97.5% | 608.9% | 57.0% | -70.5% |
Top companies by Gross margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Jun Yang Solar Power Investments Ltd ($397) | 87.3% | 79.3% | 53.8% | 73.8% | |
| Intel Corp ($4335) | 62.1% | 59.8% | 63.7% | 62.6% | 60.9% |
| PacMOS Technologies Holdings Ltd ($1010) | 68.8% | 65.7% | 65.7% | 57.5% | |
| Shanghai Fudan Microelectronics Group Co Ltd ($1385) | 47.7% | 48.7% | 47.5% | 52.9% | |
| Shenzhen Mingwah Aohan High Technology Corp Ltd ($8301) | 26.1% | 26.7% | 16.3% | 52.8% | |
| |
|---|
| Median (22 companies) | 24.5% | 23.7% | 32.2% | 32.1% | 34.4% |
|---|
| Honbridge Holdings Ltd ($8137) | 0.7% | 73.2% | 29.2% | 20.5% | |
Top companies by EBITDA margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| China Ruifeng Renewable Energy Ltd ($527) | 9.1% | 37.2% | 88.0% | 78.3% | |
| Intel Corp ($4335) | 41.5% | 38.6% | 42.8% | 41.0% | 34.8% |
| Jun Yang Solar Power Investments Ltd ($397) | -218.5% | -16.7% | -9.9% | 35.0% | |
| Semiconductor Manufacturing International Corp ($981) | 34.3% | 35.5% | 34.5% | 33.3% | |
| Hua Hong Semiconductor Ltd ($1347) | 38.5% | 29.7% | 31.5% | 30.0% | 32.6% |
| |
|---|
| Median (22 companies) | 9.3% | 9.5% | 7.1% | 9.1% | 17.1% |
|---|
| Honbridge Holdings Ltd ($8137) | -15.0% | -927.7% | -56.8% | -1.3% | |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Heng Xin China Holdings Ltd ($8046) | 16.1% | 4.1% | 11.9% | 110.8% | |
| Jun Yang Solar Power Investments Ltd ($397) | 671.1% | 25.9% | 78.9% | 104.2% | |
| China Ruifeng Renewable Energy Ltd ($527) | 5.5% | 35.9% | 10.6% | 60.9% | |
| Semiconductor Manufacturing International Corp ($981) | 23.5% | 35.1% | 33.2% | 55.0% | |
| Hanergy Thin Film Power Group Ltd ($566) | 1.3% | 2.8% | 4.8% | 32.0% | |
| |
|---|
| Median (22 companies) | 4.7% | 4.1% | 7.0% | 5.2% | 9.3% |
|---|
| Honbridge Holdings Ltd ($8137) | 0.1% | 50.6% | 1.0% | 10.1% | |
Top companies by ROIC, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Shanghai Fudan Microelectronics Group Co Ltd ($1385) | 25.5% | 22.7% | 21.1% | 20.9% | |
| Intel Corp ($4335) | 23.7% | 17.1% | 20.6% | 17.7% | 14.5% |
| Applied Materials Inc ($4336) | 4.0% | 4.6% | 15.9% | 15.2% | 19.1% |
| ASM Pacific Technology Ltd ($522) | 12.3% | 9.2% | 21.9% | 13.7% | 18.0% |
| Hua Hong Semiconductor Ltd ($1347) | 5.3% | 4.8% | 7.8% | 6.7% | 9.1% |
| |
|---|
| Median (22 companies) | -0.8% | 0.6% | 3.1% | 0.8% | 5.1% |
|---|
| Honbridge Holdings Ltd ($8137) | -3.6% | -1.3% | -0.5% | -1.1% | |
Top companies by Net Debt / EBITDA
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Solargiga Energy Holdings Ltd ($757) | | 13.8x | 4.4x | 9.0x | |
| China Ruifeng Renewable Energy Ltd ($527) | 16.4x | 6.9x | 4.9x | 7.3x | |
| Shunfeng International Clean Energy Ltd ($1165) | | 25.8x | 3.4x | 5.7x | |
| Semiconductor Manufacturing International Corp ($981) | 1.3x | 1.0x | 1.0x | 0.5x | |
| Intel Corp ($4335) | 0.2x | 0.4x | 0.5x | 0.3x | 1.0x |
| |
|---|
| Median (12 companies) | 0.2x | 0.4x | 0.2x | 0.1x | -0.0x |
|---|
