Inner Mongolia Yitai Coal Co Ltd Net Income jumped on 2,094% in 2016
24/03/2017 • About Inner Mongolia Yitai Coal Co Ltd (
$3948) • By InTwits
Inner Mongolia Yitai Coal Co Ltd reported FY2016 financial results today. Overall the company's long term financial model is characterised by the following facts: EBITDA Margin is declining: in FY2016 vs. 15.0% in FY2015 vs. 33.1% in FY2012.
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Inner Mongolia Yitai Coal Co Ltd ($3948) key annual financial indicators
| mln. CNY | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
|---|
P&L
|
|---|
| Revenue | 31,584 | 24,275 | 24,806 | 19,116 | 22,108 | 15.7% |
| Gross Profit | 11,129 | 8,190 | 6,801 | 3,673 | | -100.0% |
| SG&A | 2,752 | 2,851 | 2,966 | 2,591 | | -100.0% |
| EBITDA | 10,462 | 7,447 | 5,667 | 2,865 | | -100.0% |
| Net Income | 6,454 | 3,428 | 2,253 | 91 | 1,986 | 2,094.2% |
Balance Sheet
|
|---|
| Cash | 6,315 | 3,815 | 6,960 | 6,606 | | -100.0% |
| Short Term Debt | 1,582 | 1,012 | 1,218 | 5,219 | | -100.0% |
| Long Term Debt | 8,804 | 15,812 | 25,457 | 29,363 | | -100.0% |
Cash flow
|
|---|
| Capex | 4,717 | 6,380 | 8,648 | 7,144 | | -100.0% |
Ratios
|
|---|
| Revenue growth | 17.0% | -23.1% | 2.2% | -22.9% | 15.7% | |
| EBITDA growth | -5.2% | -28.8% | -23.9% | -49.4% | | |
| Gross Margin | 35.2% | 33.7% | 27.4% | 19.2% | | -19.2% |
| EBITDA Margin | 33.1% | 30.7% | 22.8% | 15.0% | 0.0% | -15.0% |
| Net Income Margin | 20.4% | 14.1% | 9.1% | 0.5% | 9.0% | 8.5% |
| SG&A, % of revenue | 8.7% | 11.7% | 12.0% | 13.6% | | -13.6% |
| CAPEX, % of revenue | 14.9% | 26.3% | 34.9% | 37.4% | | -37.4% |
| ROIC | 28.5% | 15.2% | 8.5% | 2.0% | | -2.0% |
| ROE | 32.9% | 16.8% | 10.2% | 0.4% | | -0.4% |
| Net Debt/EBITDA | 0.4x | 1.7x | 3.5x | 9.8x | | -9.8x |
Revenue and profitability
Inner Mongolia Yitai Coal Co Ltd's Revenue jumped on 15.7%.
Net Income marign increased on 8.5 pp from 0.47% to 9.0% in FY2016.
Appendix 1: Peers in Coal
Below we provide Inner Mongolia Yitai Coal Co Ltd benchmarking against other companies in Coal 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 |
|---|
| 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) | -16.0% | -7.8% | -14.2% | -19.5% | -9.4% |
|---|
| Inner Mongolia Yitai Coal Co Ltd ($3948) | | -23.1% | 2.2% | -22.9% | 15.7% |
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% |
| Shougang Fushan Resources Group Ltd ($639) | 63.5% | 50.9% | 40.1% | 24.5% | |
| 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% |
|---|
| Inner Mongolia Yitai Coal Co Ltd ($3948) | 35.2% | 33.7% | 27.4% | 19.2% | |
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% | -18.8% | 4.1% |
|---|
| Inner Mongolia Yitai Coal Co Ltd ($3948) | 33.1% | 30.7% | 22.8% | 15.0% | |
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) | 12.5% | 25.8% | 18.3% | 15.8% | 11.2% |
|---|
| Inner Mongolia Yitai Coal Co Ltd ($3948) | 14.9% | 26.3% | 34.9% | 37.4% | |
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% | |
| Yanzhou Coal Mining Co Ltd ($1171) | 5.3% | 2.0% | 3.7% | 0.6% | |
| |
|---|
| Median (22 companies) | -3.2% | -3.8% | -5.7% | -5.8% | -2.5% |
|---|
| Inner Mongolia Yitai Coal Co Ltd ($3948) | 28.5% | 15.2% | 8.5% | 2.0% | |
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 |
| Yanzhou Coal Mining Co Ltd ($1171) | 2.9x | 6.2x | 4.9x | 9.0x | |
| Kinetic Mines and Energy Ltd ($1277) | | | 4.5x | 5.9x | |
| Capital Finance Holdings Ltd ($8239) | | | | 3.6x | |
| |
|---|
| Median (7 companies) | 4.4x | 4.9x | 4.9x | 5.9x | 4.0x |
|---|
| Inner Mongolia Yitai Coal Co Ltd ($3948) | 0.4x | 1.7x | 3.5x | 9.8x | |
