New Europe Property Investments reports 48.3% Net Income growth and 41.6% Revenue growth
15 Feb 2017 • About New Europe Property Investments (
$NEPI) • By InTwits
New Europe Property Investments reported 2016 financial results today. Overall the company's long term financial model is characterised by the following facts:
- New Europe Property Investments is a growth stock: 2016 revenue growth was 41.6%, 5 year revenue CAGR was 45.7% at 2016 ROIC 11.4%
- New Europe Property Investments has high CAPEX intensity: 5 year average CAPEX/Revenue was 127.8%. At the same time it's a lot of higher than industry average of 41.3%.
- CAPEX is quite volatile: 170 in 2016, 154 in 2015, 226 in 2014, 109 in 2013, 6.9 in 2012
- The company has business model with average profitability: ROIC is at 11.4%
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
New Europe Property Investments ($NEPI) key annual financial indicators
| mln. € | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
|---|
P&L
|
|---|
| Revenue | 48.4 | 58.2 | 89.4 | 148.8 | 210.6 | 41.6% |
| Net Income | 33.1 | 57.5 | 99.2 | 158.4 | 235.0 | 48.3% |
Balance Sheet
|
|---|
| Cash | 85.3 | 52.5 | 108.2 | 326.6 | 48.0 | -85.3% |
| Short Term Debt | 97.8 | 64.5 | 23.3 | 14.7 | 79.2 | 438.5% |
| Long Term Debt | 92.9 | 173.6 | 171.1 | 554.9 | 655.4 | 18.1% |
Cash flow
|
|---|
| Capex | 6.9 | 109.3 | 226.2 | 154.3 | 169.6 | 9.9% |
Ratios
|
|---|
| Revenue growth | 50.8% | 20.4% | 53.6% | 66.4% | 41.6% | |
| Net Income Margin | 68.4% | 98.7% | 110.9% | 106.5% | 111.6% | 5.1% |
| CAPEX, % of revenue | 14.2% | 187.7% | 252.9% | 103.7% | 80.5% | -23.2% |
| ROIC | 9.2% | 7.8% | 7.2% | 9.7% | 11.4% | 1.6% |
| ROE | 10.5% | 10.4% | 10.1% | 11.6% | 14.2% | 2.6% |
Revenue and profitability
New Europe Property Investments's Revenue jumped on 41.6% in 2016.
Net Income marign increased on 5.1 pp from 106% to 112% in 2016.
Capital expenditures (CAPEX) and working capital investments
New Europe Property Investments's CAPEX/Revenue was 80.5% in 2016. CAPEX/Revenue dropped on 107 pp from 188% in 2013 to 80.5% in 2016. It's average CAPEX/Revenue for the last three years was 146%.
Return on investment
The company operates at good ROE (14.20%) while ROIC is low (11.35%). ROIC increased slightly on 1.6 pp from 9.7% to 11.4% in 2016. ROE increased on 2.6 pp from 11.6% to 14.2% in 2016.
Leverage (Debt)
Debt surged on 29.0% in 2016 while cash dropped on 85.3% in 2016.
Appendix 1: Peers in Equity Investment Instruments
Below we provide New Europe Property Investments benchmarking against other companies in Equity Investment Instruments 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 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Cambria Africa ($CMB) | | 9.9% | 10.8% | 9.6% | -17.0% |
| |
|---|
| Median (1 company) | | 9.9% | 10.8% | 9.6% | -17.0% |
|---|
| New Europe Property Investments ($NEPI) | | 20.4% | 53.6% | 66.4% | 41.6% |
Top companies by Gross margin, %
| Top | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Cambria Africa ($CMB) | 56.0% | 54.0% | 53.3% | 54.7% | 65.4% |
| |
|---|
| Median (1 company) | 56.0% | 54.0% | 53.3% | 54.7% | 65.4% |
|---|
Top companies by EBITDA margin, %
| Top | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Cambria Africa ($CMB) | -24.2% | -27.1% | -31.6% | -18.7% | 5.0% |
| |
|---|
| Median (1 company) | -24.2% | -27.1% | -31.6% | -18.7% | 5.0% |
|---|
Top companies by CAPEX/Revenue, %
| Top | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Cambria Africa ($CMB) | 19.1% | 4.7% | 1.8% | 0.9% | 2.0% |
| |
|---|
| Median (1 company) | 19.1% | 4.7% | 1.8% | 0.9% | 2.0% |
|---|
| New Europe Property Investments ($NEPI) | 14.2% | 187.7% | 252.9% | 103.7% | 80.5% |
Top companies by ROIC, %
| Top | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Cambria Africa ($CMB) | -12.0% | -15.2% | -28.6% | -31.2% | 5.0% |
| |
|---|
| Median (1 company) | -12.0% | -15.2% | -28.6% | -31.2% | 5.0% |
|---|
| New Europe Property Investments ($NEPI) | 9.2% | 7.8% | 7.2% | 9.7% | 11.4% |
