Zccm Investments Hldgs revenue increased slightly on 1.8% in 2016
16 Jan 2017 • About Zccm Investments Hldgs (
$ZCC) • By InTwits
Zccm Investments Hldgs reported FY2016 financial results today. Overall the company's long term financial model is characterised by the following facts:
- Zccm Investments Hldgs motivates its personel by high Stock Based Compensation (SBC): average SBC/Revenue for FY2012-FY2016 was 0.0%. On average EBITDA Margin was -22.1% for the sames years0
- It operates with high leverage: Net Debt/EBITDA is 10.3x while industry average is 2.5x
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Zccm Investments Hldgs ($ZCC) key annual financial indicators
| mln. ZMW | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
|---|
P&L
|
|---|
| Revenue | 257 | 520 | 1,001 | 242 | 246 | 1.8% |
| Gross Profit | 133 | 371 | 857 | 111 | 66 | -40.5% |
| SG&A | 157 | 165 | 199 | 2,253 | | -100.0% |
| EBITDA | 378 | 391 | 887 | -2,157 | | -100.0% |
| Net Income | 1,238 | 762 | 277 | -987 | -2,303 | 133.3% |
Balance Sheet
|
|---|
| Cash | 61 | 38 | 274 | 44 | 36 | -18.7% |
| Short Term Debt | 1,999 | 2,098 | 82 | 66 | 0 | -100.0% |
| Long Term Debt | 157 | 121 | 131 | 199 | 334 | 68.2% |
Cash flow
|
|---|
| Capex | 176 | 236 | 177 | | | |
Ratios
|
|---|
| Revenue growth | -30.1% | 102.1% | 92.4% | -75.8% | 1.8% | |
| EBITDA growth | -25.9% | 3.6% | 126.7% | -343.1% | | |
| Gross Margin | 51.8% | 71.4% | 85.6% | 45.9% | 26.8% | -19.1% |
| EBITDA Margin | 146.8% | 75.2% | 88.7% | -891.4% | 0.0% | 891.4% |
| Net Income Margin | 481.0% | 146.5% | 27.7% | -407.9% | -934.7% | -526.8% |
| SG&A, % of revenue | 61.1% | 31.7% | 19.9% | 930.9% | | -930.9% |
| CAPEX, % of revenue | 68.3% | 45.4% | 17.7% | | | 0.0% |
| ROIC | 6.6% | 5.6% | 11.3% | | | 0.0% |
| ROE | 42.3% | 18.3% | 4.4% | -12.8% | -27.3% | -14.5% |
| Net Debt/EBITDA | 5.5x | 5.6x | -0.1x | | | 0.0x |
Revenue and profitability
Zccm Investments Hldgs's Revenue increased slightly on 1.8% in FY2016.
Gross Margin dropped on 19.1 pp from 45.9% to 26.8% in FY2016.
Net Income marign dropped on 527 pp from -408% to -935% in FY2016.
Leverage (Debt)
Debt jumped on 26.0% in FY2016 while cash dropped on 18.7% in FY2016.
Appendix 1: Peers in Mining
Below you can find Zccm Investments Hldgs benchmarking vs. other companies in Mining 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 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Coalfield Resources ($CRES) | | 19,087.5% | -5.0% | 803.4% | |
| Serabi Gold ($SRB) | | | | 177.8% | |
| Anglo Pacific Group ($APF) | -56.3% | -2.8% | -76.4% | 149.4% | |
| Griffin Mining ($GFM) | -2.8% | -7.5% | -35.9% | 31.2% | |
| Kirkland Lake Gold Inc ($KGI) | 54.7% | -5.1% | 14.2% | 26.9% | |
| |
|---|
| Median (30 companies) | 3.2% | -3.2% | -5.0% | -7.4% | -1.3% |
|---|
| Zccm Investments Hldgs ($ZCC) | | 102.1% | 92.4% | -75.8% | 1.8% |
Top companies by Gross margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Polyus Gold Intl Ltd ($PGIL) | 51.1% | 40.2% | 46.1% | 58.8% | |
| Coalfield Resources ($CRES) | | | | 54.4% | |
| Mwana Africa ($MWA) | 42.9% | 45.9% | 46.6% | 38.6% | 29.1% |
| Kaz Minerals ($KAZ) | 39.7% | 41.1% | 46.1% | 35.5% | |
| Trans-Siberian Gold ($TSG) | 17.2% | -4.8% | 22.6% | 33.0% | |
| |
|---|
| Median (29 companies) | 38.5% | 18.6% | 22.6% | 18.1% | 19.6% |
|---|
| Zccm Investments Hldgs ($ZCC) | 51.8% | 71.4% | 85.6% | 45.9% | 26.8% |
Top companies by EBITDA margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Coalfield Resources ($CRES) | 1,693,625.0% | 28.4% | 0.1% | 259.6% | |
| Polyus Gold Intl Ltd ($PGIL) | 51.1% | 18.7% | 45.9% | 58.0% | |
| Anglo Pacific Group ($APF) | 76.2% | 77.9% | -58.0% | 53.7% | |
| Nord Gold Nv ($NORD) | 33.0% | 0.8% | 40.2% | 44.9% | |
| Trans-Siberian Gold ($TSG) | 24.7% | 8.0% | 32.7% | 38.1% | |
| |
|---|
| Median (31 companies) | 25.0% | 16.8% | 17.3% | 18.6% | 9.3% |
|---|
| Zccm Investments Hldgs ($ZCC) | 146.8% | 75.2% | 88.7% | -891.4% | |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Kaz Minerals ($KAZ) | 36.6% | 136.5% | 168.8% | 168.7% | |
| Weatherly International ($WTI) | 8.6% | | | 161.8% | 10.2% |
| Hwange Colliery Co ($HWA) | 3.5% | | 0.5% | 45.6% | |
| Goldbridges Global Resources ($GBGR) | 26.9% | 17.6% | 73.9% | 40.1% | |
| Caledonia Mining Corp ($CMCL) | 10.5% | 18.0% | 11.5% | 33.8% | |
| |
|---|
| Median (31 companies) | 19.8% | 17.2% | 10.2% | 14.1% | 15.1% |
|---|
Top companies by ROIC, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Polyus Gold Intl Ltd ($PGIL) | 27.0% | 4.3% | 19.2% | 29.7% | |
| Nord Gold Nv ($NORD) | 6.6% | -9.0% | 13.8% | 16.1% | |
| Coalfield Resources ($CRES) | 0.1% | 0.8% | 0.0% | 15.8% | |
| Kirkland Lake Gold Inc ($KGI) | 19.7% | 1.5% | -0.7% | 9.2% | |
| Trans-Siberian Gold ($TSG) | -1.1% | -6.8% | 5.0% | 9.2% | |
| |
|---|
| Median (31 companies) | 4.4% | 2.0% | 1.2% | 1.2% | 1.1% |
|---|
| Zccm Investments Hldgs ($ZCC) | 6.6% | 5.6% | 11.3% | | |
Top companies by Net Debt / EBITDA
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Kaz Minerals ($KAZ) | 2.4x | 2.9x | 5.5x | 18.7x | |
| Goldbridges Global Resources ($GBGR) | 2.2x | | 1.3x | 10.9x | |
| Glencore ($GLEN) | 7.3x | 6.2x | 4.6x | 5.5x | |
| Griffin Mining ($GFM) | 0.8x | 1.4x | 4.0x | 4.4x | |
| Bisichi Mining ($BISI) | 0.9x | 1.7x | 1.3x | 4.0x | |
| |
|---|
| Median (23 companies) | 0.4x | 1.4x | 0.7x | 1.1x | 2.9x |
|---|
