A2Z Maintenance & Engineering Services revenue returned to growth in FY2016: increased 128% vs. 15.4% decline a year earliner
28-05-2016 • About A2Z Maintenance & Engineering Services (
$A2ZMES) • By InTwits
A2Z Maintenance & Engineering Services reported FY2016 financial results today. Here are the key drivers of the company's long term financial model:
- EBITDA Margin is declining: in FY2016 vs. -15.3% in FY2015 vs. 7.8% in FY2012
- A2Z Maintenance & Engineering Services spends a lot for Stock Based Compensation (SBC): average SBC/Revenue for FY2012-FY2016 is 0.0%. Average EBITDA Margin for the same period was -1.7%
Below you can find a comprehensive analysis of the key data driving the company's performance and the stock price.
Revenue and profitability
A2Z Maintenance & Engineering Services's Revenue jumped on 128%. During the last 5 years Revenue growth bottomed in FY2013 at -32.6% and was accelerating since that time.
Net Income margin jumped on 25.4 pp from -35.3% to -9.9% in FY2016. During the last 5 years Net Income margin bottomed in FY2014 at -35.4% and was growing since that time.
Management team
The company's CEO Rajesh Jain has spent 6 years with the company.
Financial and operational results
A2Z Maintenance & Engineering Services ($A2ZMES) key annual financial indicators| mln. INR | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
|---|
P&L
|
|---|
| Revenue | 13,386 | 9,028 | 6,988 | 5,915 | 13,470 | 127.7% |
| EBITDA | 1,047 | -117 | -854 | -902 | | |
| Net Income | -179 | -1,059 | -2,471 | -2,087 | -1,330 | |
Balance Sheet
|
|---|
| Cash | 551 | 162 | 136 | 137 | | |
| Short Term Debt | 6,120 | 6,656 | 8,755 | 6,425 | | |
| Long Term Debt | 5,200 | 5,629 | 5,339 | 6,236 | | |
Cash flow
|
|---|
| Capex | 4,747 | 1,970 | 790 | | | |
Ratios
|
|---|
| Revenue growth | -0.5% | -32.6% | -22.6% | -15.4% | 127.7% | |
| EBITDA growth | -56.1% | -111.1% | 631.6% | 5.7% | | |
|
|---|
| EBITDA Margin | 7.8% | -1.3% | -12.2% | -15.3% | |
| Net Income Margin | -1.3% | -11.7% | -35.4% | -35.3% | -9.9% | 25.4% |
| CAPEX, % of revenue | 35.5% | 21.8% | 11.3% | | | |
|
|---|
| ROIC | 4.3% | -2.3% | -5.2% | -6.5% | | |
| ROE | -1.6% | -10.0% | -27.7% | -30.5% | | |
| Net Debt/EBITDA | 10.3x | | | | |
Peers in Utilities:Non-Elec.
Below you can find A2Z Maintenance & Engineering Services benchmarking vs. other companies in Utilities:Non-Elec. industry. It's shown for the period of 5 years for the key financial metrics. Each table has median value for all the companies in the industry together with individual financial data of the top-5 companies in the industry by particular financial metric.
Top companies by Revenue growth, %
| Top | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Va Tech Wabag ($WABAG) | - | 12.1% | 38.3% | 8.8% | 4.7% |
| Gail (India) ($GAIL) | - | 15.5% | 21.1% | -1.8% | -14.3% |
| |
|---|
| Median (2 companies) | - | 13.8% | 29.7% | 3.5% | -4.8% |
|---|
| A2Z Maintenance & Engineering Services ($A2ZMES) | - | -32.6% | -22.6% | -15.4% | 127.7% |
Top companies by Gross margin, %
| Top | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Va Tech Wabag ($WABAG) | - | - | 24.6% | 21.0% | 20.0% |
| |
|---|
| Median (1 company) | - | - | 24.6% | 21.0% | 20.0% |
|---|
Top companies by EBITDA margin, %
| Top | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Gail (India) ($GAIL) | 16.0% | 14.7% | 13.0% | 9.3% | 8.5% |
| Va Tech Wabag ($WABAG) | 9.1% | 9.6% | 9.4% | 8.6% | 8.7% |
| |
|---|
| Median (2 companies) | 12.6% | 12.1% | 11.2% | 9.0% | 8.6% |
|---|
| A2Z Maintenance & Engineering Services ($A2ZMES) | 7.8% | -1.3% | -12.2% | -15.3% | - |
Top companies by CAPEX/Revenue, %
| Top | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Gail (India) ($GAIL) | 22.4% | 17.7% | 8.5% | 4.8% | 2.8% |
| Va Tech Wabag ($WABAG) | 1.6% | 2.6% | 4.6% | 1.2% | 0.6% |
| |
|---|
| Median (2 companies) | 12.0% | 10.1% | 6.6% | 3.0% | 1.7% |
|---|
Top companies by ROIC, %
| Top | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Va Tech Wabag ($WABAG) | 17.9% | 18.2% | 21.1% | 18.5% | 15.8% |
| Gail (India) ($GAIL) | 16.5% | 13.8% | 12.1% | 7.3% | 5.5% |
| |
|---|
| Median (2 companies) | 17.2% | 16.0% | 16.6% | 12.9% | 10.6% |
|---|
| A2Z Maintenance & Engineering Services ($A2ZMES) | 4.3% | -2.3% | -5.2% | -6.5% | - |
Top companies by Net Debt / EBITDA
| Top | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Gail (India) ($GAIL) | 1.4x | 1.8x | 1.9x | 3.0x | 1.1x |
| Va Tech Wabag ($WABAG) | -1.6x | -1.3x | -0.5x | -0.6x | 0.1x |
| |
|---|
| Median (2 companies) | -0.1x | 0.2x | 0.7x | 1.2x | 0.6x |
|---|
