Sino Splendid Holdings Ltd Net Income jumped on 927%
24/03/2017 • About Sino Splendid Holdings Ltd (
$8006) • By InTwits
Sino Splendid Holdings Ltd reported FY2016 financial results today. Overall the company's long term financial model is characterised by the following facts:
- EBITDA Margin is relatively stable: in FY2016 vs. -4.6% in FY2015 vs. -14.2% in FY2012
- Sino Splendid 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 -19.7%0
- It operates with high leverage: Net Debt/EBITDA is -1.0x while industry average is -3.6x
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Sino Splendid Holdings Ltd ($8006) key annual financial indicators
| mln. HKD | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
|---|
P&L
|
|---|
| Revenue | 91.5 | 93.3 | 81.6 | 79.2 | 100.2 | 26.5% |
| Gross Profit | 47.3 | 48.0 | 42.3 | 42.6 | | -100.0% |
| SG&A | 68.3 | 48.7 | 51.7 | 52.0 | | -100.0% |
| EBITDA | -13.0 | -66.2 | -5.0 | -3.6 | | |
| Net Income | 20.4 | 102.6 | 3.3 | 11.2 | 115.2 | 927.4% |
Balance Sheet
|
|---|
| Cash | 286.5 | 373.5 | 187.5 | 136.9 | | -100.0% |
| Short Term Debt | 0.0 | 0.0 | 0.0 | 0.0 | | |
| Long Term Debt | 0.0 | 0.0 | 0.0 | 0.0 | | |
Cash flow
|
|---|
| Capex | 0.6 | 1.5 | 1.3 | 1.7 | | -100.0% |
Ratios
|
|---|
| Revenue growth | -28.0% | 2.0% | -12.6% | -2.9% | 26.5% | |
| EBITDA growth | 98.5% | 408.3% | -92.5% | -27.8% | | |
| Gross Margin | 51.7% | 51.4% | 51.9% | 53.9% | | -53.9% |
| EBITDA Margin | -14.2% | -70.9% | -6.1% | -4.6% | 0.0% | 4.6% |
| Net Income Margin | 22.3% | 109.9% | 4.1% | 14.2% | 115.0% | 100.8% |
| SG&A, % of revenue | 74.6% | 52.2% | 63.4% | 65.7% | | -65.7% |
| CAPEX, % of revenue | 0.7% | 1.6% | 1.6% | 2.1% | | -2.1% |
| ROIC | -4.2% | -16.8% | -1.5% | -1.7% | | 1.7% |
| ROE | 6.2% | 26.1% | 1.0% | 4.4% | | -4.4% |
Revenue and profitability
Sino Splendid Holdings Ltd's Revenue jumped on 26.5%.
Net Income marign jumped on 101 pp from 14.2% to 115% in FY2016.
Appendix 1: Peers in Leisure Time
Below we provide Sino Splendid Holdings Ltd benchmarking against other companies in Leisure Time 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 |
|---|
| Perfect Shape PRC Holdings Ltd ($1830) | | 16.2% | 6.1% | 55.0% | 20.6% |
| Genting Hong Kong Ltd ($678) | | 6.6% | 2.9% | 20.9% | 47.4% |
| Travel Expert Asia Enterprises Ltd ($1235) | | 15.3% | 19.5% | 18.9% | 3.2% |
| China Jiuhao Health Industry Corp Ltd ($419) | | -23.6% | -12.7% | 11.5% | 10.4% |
| EGL Holdings Co Ltd ($6882) | | 20.7% | 2.3% | 10.3% | -9.6% |
| |
|---|
| Median (11 companies) | 7.2% | -6.6% | 2.8% | 1.9% | 4.6% |
|---|
| Sino Splendid Holdings Ltd ($8006) | | 2.0% | -12.6% | -2.9% | 26.5% |
Top companies by Gross margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Travel Expert Asia Enterprises Ltd ($1235) | | | | 90.7% | 85.1% |
| Feiyu Technology International Co Ltd ($1022) | 96.9% | 95.4% | 87.5% | 83.1% | |
| China Travel International Investment Hong Kong Ltd ($308) | 46.1% | 47.8% | 46.0% | 45.6% | |
| China Jiuhao Health Industry Corp Ltd ($419) | 57.0% | 13.5% | 23.4% | 44.9% | |
| EGL Holdings Co Ltd ($6882) | 16.7% | 21.4% | 20.2% | 23.4% | 15.7% |
| |
|---|
| Median (8 companies) | 31.4% | 19.4% | 20.2% | 34.2% | 50.4% |
|---|
| Sino Splendid Holdings Ltd ($8006) | 51.7% | 51.4% | 51.9% | 53.9% | |
Top companies by EBITDA margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| China Travel International Investment Hong Kong Ltd ($308) | 28.2% | 29.1% | 48.5% | 31.7% | |
| Feiyu Technology International Co Ltd ($1022) | 77.0% | 44.0% | 51.0% | 30.0% | |
| Perfect Shape PRC Holdings Ltd ($1830) | 27.5% | 29.1% | 26.5% | 29.8% | 27.4% |
| Travel Expert Asia Enterprises Ltd ($1235) | 17.4% | 16.2% | 18.3% | 15.0% | 11.8% |
| Water Oasis Group Ltd ($1161) | 6.5% | 4.7% | 11.4% | 13.1% | 9.7% |
| |
|---|
| Median (11 companies) | 17.4% | 8.5% | 8.6% | 9.8% | 9.7% |
|---|
| Sino Splendid Holdings Ltd ($8006) | -14.2% | -70.9% | -6.1% | -4.6% | |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Genting Hong Kong Ltd ($678) | 16.6% | 25.4% | 33.0% | 58.1% | |
| China Jiuhao Health Industry Corp Ltd ($419) | 2.1% | 31.8% | 67.3% | 43.3% | |
| Perfect Shape PRC Holdings Ltd ($1830) | 6.1% | 8.9% | 7.7% | 24.8% | 12.5% |
| China Travel International Investment Hong Kong Ltd ($308) | 13.4% | 28.3% | 29.9% | 10.9% | |
| Water Oasis Group Ltd ($1161) | 3.7% | 4.0% | 2.8% | 3.5% | 2.5% |
| |
|---|
| Median (11 companies) | 3.7% | 4.0% | 3.2% | 3.1% | 9.9% |
|---|
| Sino Splendid Holdings Ltd ($8006) | 0.7% | 1.6% | 1.6% | 2.1% | |
Top companies by ROIC, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| EGL Holdings Co Ltd ($6882) | 30.4% | 63.2% | 39.4% | 58.3% | 3.3% |
| Perfect Shape PRC Holdings Ltd ($1830) | 62.8% | 44.1% | 37.7% | 44.1% | 32.0% |
| Travel Expert Asia Enterprises Ltd ($1235) | 50.9% | 26.7% | 29.8% | 23.0% | 15.9% |
| Water Oasis Group Ltd ($1161) | 5.3% | 1.7% | 15.7% | 19.2% | 12.2% |
| Feiyu Technology International Co Ltd ($1022) | 329.5% | 19.2% | 17.1% | 6.1% | |
| |
|---|
| Median (11 companies) | 5.3% | 5.0% | 9.6% | 5.0% | 12.2% |
|---|
| Sino Splendid Holdings Ltd ($8006) | -4.2% | -16.8% | -1.5% | -1.7% | |
Top companies by Net Debt / EBITDA
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Travel Expert Asia Enterprises Ltd ($1235) | -1.3x | -1.2x | -1.7x | -0.3x | -0.0x |
| Perfect Shape PRC Holdings Ltd ($1830) | -2.0x | -0.8x | -1.4x | -1.8x | -1.0x |
| China Travel International Investment Hong Kong Ltd ($308) | -1.7x | -1.1x | -1.1x | -2.0x | |
| EGL Holdings Co Ltd ($6882) | -4.5x | -2.5x | -3.3x | -2.4x | -10.2x |
| Water Oasis Group Ltd ($1161) | -3.2x | -5.1x | -2.8x | -2.6x | -4.6x |
| |
|---|
| Median (7 companies) | -1.3x | -1.6x | -2.2x | -2.4x | -2.8x |
|---|
