China International Marine Containers Group Co Ltd revenue dropped on 13.1% in 2016
27/03/2017 • About China International Marine Containers Group Co Ltd (
$2039) • By InTwits
China International Marine Containers Group Co Ltd reported FY2016 financial results today. Overall the company's long term financial model is characterised by the following facts:
- China International Marine Containers Group Co Ltd is a company in decline: FY2016 revenue growth was -13.1%, 5 years revenue CAGR was -4.5%
- It operates with high leverage: Net Debt/EBITDA is 2.8x while industry average is -0.0x
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
China International Marine Containers Group Co Ltd ($2039) key annual financial indicators
| mln. CNY | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
|---|
P&L
|
|---|
| Revenue | 53,828 | 57,367 | 69,668 | 58,253 | 50,609 | -13.1% |
| Gross Profit | 9,227 | 9,124 | 10,899 | 10,172 | | -100.0% |
| SG&A | 4,745 | 5,046 | 6,052 | 5,754 | | -100.0% |
| EBITDA | 4,372 | 4,503 | 5,184 | 4,605 | | -100.0% |
| Net Income | 1,939 | 2,180 | 2,478 | 1,974 | 540 | -72.7% |
Balance Sheet
|
|---|
| Cash | 4,398 | 4,181 | 2,935 | 3,259 | | -100.0% |
| Short Term Debt | 7,695 | 10,882 | 17,023 | 24,539 | | -100.0% |
| Long Term Debt | 14,127 | 14,332 | 16,105 | 23,966 | | -100.0% |
Cash flow
|
|---|
| Capex | 2,087 | 6,930 | 12,873 | 12,347 | | -100.0% |
Ratios
|
|---|
| Revenue growth | -15.6% | 6.6% | 21.4% | -16.4% | -13.1% | |
| EBITDA growth | -32.8% | 3.0% | 15.1% | -11.2% | | |
| Gross Margin | 17.1% | 15.9% | 15.6% | 17.5% | | -17.5% |
| EBITDA Margin | 8.1% | 7.8% | 7.4% | 7.9% | 0.0% | -7.9% |
| Net Income Margin | 3.6% | 3.8% | 3.6% | 3.4% | 1.1% | -2.3% |
| SG&A, % of revenue | 8.8% | 8.8% | 8.7% | 9.9% | | -9.9% |
| CAPEX, % of revenue | 3.9% | 12.1% | 18.5% | 21.2% | | -21.2% |
| ROIC | 7.1% | 6.9% | 6.1% | 3.8% | | -3.8% |
| ROE | 10.2% | 10.9% | 11.5% | 7.8% | | -7.8% |
| Net Debt/EBITDA | 4.0x | 4.7x | 5.8x | 9.8x | | -9.8x |
Revenue and profitability
The company's Revenue dropped on 13.1%.
Net Income marign decreased on 2.3 pp from 3.4% to 1.1% in FY2016.
Management team
The company's CEO is Mai Boliang. Mai Boliang has 3 years tenure at the company.
Appendix 1: Peers in Miscellaneous Manufactur
Below we provide China International Marine Containers Group Co Ltd benchmarking against other companies in Miscellaneous Manufactur 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 |
|---|
| Man Sang International Ltd ($938) | | 24.6% | -82.0% | -11.5% | 159.9% |
| China Environmental Energy Investment Ltd ($986) | | -26.7% | -40.0% | -81.2% | 69.7% |
| Sunny Optical Technology Group Co Ltd ($2382) | | 45.9% | 45.0% | 26.9% | 36.6% |
| AMCO United Holding Ltd ($2970) | | 10.8% | 53.9% | 16.8% | 31.1% |
| Herald Holdings Ltd ($114) | | -3.9% | -0.4% | -5.6% | 20.9% |
| |
|---|
| Median (21 companies) | 9.9% | -0.7% | 6.7% | -4.8% | 6.3% |
|---|
| China International Marine Containers Group Co Ltd ($2039) | | 6.6% | 21.4% | -16.4% | -13.1% |
Top companies by Gross margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Man Sang International Ltd ($938) | 42.4% | 32.8% | 60.3% | 78.6% | 56.4% |
| Time Watch Investments Ltd ($2033) | 60.2% | 60.6% | 65.0% | 68.1% | 68.5% |
| China Environmental Energy Investment Ltd ($986) | 14.0% | 1.2% | 9.0% | 49.2% | 40.4% |
| Lee & Man Chemical Co Ltd ($746) | 34.3% | 35.7% | 41.9% | 39.6% | 36.3% |
| Zhuzhou CSR Times Electric Co Ltd ($3898) | 33.2% | 35.1% | 37.4% | 38.7% | |
| |
|---|
| Median (24 companies) | 19.8% | 20.8% | 24.9% | 23.9% | 23.9% |
|---|
| China International Marine Containers Group Co Ltd ($2039) | 17.1% | 15.9% | 15.6% | 17.5% | |
Top companies by EBITDA margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Lee & Man Chemical Co Ltd ($746) | 30.4% | 31.3% | 38.4% | 37.6% | 37.0% |
| Man Sang International Ltd ($938) | 24.9% | 15.4% | 37.0% | 33.8% | 40.4% |
| IPE Group Ltd ($929) | 25.6% | 22.5% | 29.5% | 29.1% | |
| DeTeam Co Ltd ($65) | 8.0% | 3.9% | -1.3% | 24.3% | |
| Zhuzhou CSR Times Electric Co Ltd ($3898) | 18.4% | 19.8% | 20.6% | 24.2% | |
| |
|---|
| Median (25 companies) | 7.9% | 9.8% | 9.8% | 6.1% | 9.0% |
|---|
| China International Marine Containers Group Co Ltd ($2039) | 8.1% | 7.8% | 7.4% | 7.9% | |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| China Environmental Energy Investment Ltd ($986) | 6.1% | 0.4% | 17.9% | 47.6% | 6.2% |
| DeTeam Co Ltd ($65) | 6.7% | 47.0% | 5.6% | 33.1% | |
| Lee & Man Chemical Co Ltd ($746) | 5.8% | 51.1% | 33.7% | 22.8% | |
| IPE Group Ltd ($929) | 6.3% | 13.3% | 12.3% | 13.3% | |
| Yusei Holdings Ltd ($96) | 3.3% | 4.2% | 3.8% | 9.3% | |
| |
|---|
| Median (25 companies) | 4.7% | 4.2% | 3.8% | 4.3% | 3.8% |
|---|
| China International Marine Containers Group Co Ltd ($2039) | 3.9% | 12.1% | 18.5% | 21.2% | |
Top companies by ROIC, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Sunny Optical Technology Group Co Ltd ($2382) | 19.7% | 17.8% | 16.5% | 19.4% | 26.8% |
| TK Group Holdings Ltd ($2283) | 36.8% | 31.1% | 29.4% | 27.6% | 26.0% |
| Time Watch Investments Ltd ($2033) | 34.5% | 27.1% | 27.8% | 27.9% | 18.6% |
| Karrie International Hldgs ($1050) | 1.1% | 4.4% | 7.0% | 5.5% | 12.0% |
| Lee & Man Chemical Co Ltd ($746) | 11.7% | 8.2% | 10.9% | 10.7% | 10.4% |
| |
|---|
| Median (21 companies) | 3.2% | 3.6% | 3.9% | 1.5% | 9.0% |
|---|
| China International Marine Containers Group Co Ltd ($2039) | 7.1% | 6.9% | 6.1% | 3.8% | |
Top companies by Net Debt / EBITDA
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Continental Holdings Ltd ($513) | | 20.1x | 92.9x | 4,203.6x | |
| South China China Ltd ($413) | | 37.5x | 2,842.3x | 27.3x | |
| Launch Tech Co Ltd ($2488) | 7.6x | 2.4x | 3.9x | 14.5x | |
| VS International Group Ltd ($1002) | 5.1x | 6.5x | 4.4x | 3.3x | 4.6x |
| Lee & Man Chemical Co Ltd ($746) | -0.2x | 1.5x | 2.2x | 2.5x | 2.6x |
| |
|---|
| Median (22 companies) | -0.2x | -0.2x | -0.2x | 0.1x | -0.7x |
|---|
| China International Marine Containers Group Co Ltd ($2039) | 4.0x | 4.7x | 5.8x | 9.8x | |
