Future Market Networks EBITDA Margin dropped on 18.4 pp from 18.4% to in 2015
30-05-2015 • About Future Market Networks (
$FMNL) • By InTwits
Future Market Networks reported FY2015 financial results today. Overall the company's long term financial model is characterised by the following facts: Future Market Networks is a company in decline: FY2015 revenue growth was -2.4%, 5 years revenue CAGR was -2.9%.
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Future Market Networks ($FMNL) key annual financial indicators
| mln. INR | 2011 | 2012 | 2013 | 2014 | 2015 | 2015/2014 |
|---|
P&L
|
|---|
| Revenue | 1,041 | 1,652 | 1,589 | 1,607 | 1,569 | -2.4% |
| EBITDA | 130 | 415 | | 295 | | -100.0% |
| Net Income | 4 | 1 | -609 | -764 | -781 | |
Balance Sheet
|
|---|
| Cash | 21 | 74 | | 115 | | -100.0% |
| Short Term Debt | 249 | 730 | | 2,646 | | -100.0% |
| Long Term Debt | 52 | 5,265 | | 8,430 | | -100.0% |
Cash flow
|
|---|
| Capex | 367 | 1,124 | | | | |
Ratios
|
|---|
| Revenue growth | -42.8% | 58.6% | -3.8% | 1.1% | -2.4% | |
| EBITDA growth | | 219.6% | | | | |
| EBITDA Margin | 12.5% | 25.1% | 0.0% | 18.4% | 0.0% | -18.4% |
| Net Income Margin | 0.4% | 0.0% | -38.3% | -47.5% | -49.8% | -2.2% |
| CAPEX, % of revenue | 35.2% | 68.1% | | | | 0.0% |
| ROIC | | 2.5% | | | | 0.0% |
| ROE | | 0.0% | | | | 0.0% |
| Net Debt/EBITDA | 2.2x | 14.3x | | 37.1x | | -37.1x |
Revenue and profitability
The company's Revenue decreased on 2.4% in FY2015.
Net Income marign decreased on 2.2 pp from -47.5% to -49.8% in FY2015.
Appendix 1: Peers in Department Stores
Below we provide Future Market Networks benchmarking against other companies in Department Stores 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 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| V-Mart Retail ($VMART) | | 31.7% | 36.0% | 49.9% | 25.3% |
| Pantaloons Fashion & Retail ($PFRL) | | 36.3% | 7,273.1% | 29.3% | 11.4% |
| Trent ($TRENT) | | 22.1% | 15.6% | 9.4% | -2.1% |
| |
|---|
| Median (3 companies) | | 31.7% | 36.0% | 29.3% | 11.4% |
|---|
| Future Market Networks ($FMNL) | | 58.6% | -3.8% | 1.1% | -2.4% |
Top companies by EBITDA margin, %
| Top | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Store One Retail India ($STOREONE) | -1,229.0% | | | | 31.2% |
| V-Mart Retail ($VMART) | 9.0% | 10.3% | 10.5% | 9.4% | 8.9% |
| Pantaloons Fashion & Retail ($PFRL) | 1.0% | 2.5% | 5.5% | 2.1% | 4.0% |
| Trent ($TRENT) | 1.5% | -2.3% | -0.4% | 0.7% | 3.3% |
| |
|---|
| Median (4 companies) | 1.3% | 2.5% | 5.5% | 2.1% | 6.4% |
|---|
Top companies by CAPEX/Revenue, %
| Top | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Trent ($TRENT) | 12.1% | 8.8% | 5.4% | 5.8% | 6.9% |
| Pantaloons Fashion & Retail ($PFRL) | 0.0% | 0.0% | 2.3% | 5.7% | 6.3% |
| V-Mart Retail ($VMART) | 4.4% | 4.8% | 5.8% | 5.8% | 4.7% |
| |
|---|
| Median (3 companies) | 2.3% | 4.8% | 5.4% | 5.8% | 6.3% |
|---|
Top companies by ROIC, %
| Top | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| V-Mart Retail ($VMART) | 19.7% | 26.3% | 23.5% | 21.9% | 26.3% |
| Trent ($TRENT) | -0.8% | -6.2% | -3.5% | -2.6% | 0.1% |
| Pantaloons Fashion & Retail ($PFRL) | | 33.2% | 1.3% | -3.6% | -6.8% |
| Store One Retail India ($STOREONE) | | | | | |
| |
|---|
| Median (4 companies) | 19.7% | 13.8% | -1.0% | -2.6% | 0.1% |
|---|
| Future Market Networks ($FMNL) | | 2.5% | | | |
Top companies by Net Debt / EBITDA
| Top | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Pantaloons Fashion & Retail ($PFRL) | -0.3x | -0.1x | 23.9x | 30.0x | 17.8x |
| Trent ($TRENT) | 9.5x | | | 16.6x | 0.9x |
| V-Mart Retail ($VMART) | 1.9x | 1.3x | 0.5x | 0.8x | 0.4x |
| Store One Retail India ($STOREONE) | | | | | 0.0x |
| |
|---|
| Median (4 companies) | 1.0x | -0.1x | 0.5x | 16.6x | 0.6x |
|---|
