Marimedia Ltd reports 666% Net Income growth
20 Mar 2017 • About Marimedia Ltd (
$MARI) • By InTwits
Marimedia Ltd reported FY2016 financial results today. Overall the company's long term financial model is characterised by the following facts: EBITDA Margin is declining: in FY2016 vs. 8.4% in FY2015 vs. 15.4% in FY2012.
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Marimedia Ltd ($MARI) key annual financial indicators
| mln. $ | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
|---|
P&L
|
|---|
| Revenue | 25.3 | 43.3 | 63.1 | 75.8 | 125.9 | 66.0% |
| Gross Profit | 7.1 | 14.1 | 19.0 | 21.1 | | -100.0% |
| SG&A | | | 5.6 | 9.1 | | -100.0% |
| EBITDA | 3.9 | 8.7 | 9.7 | 6.4 | | -100.0% |
| Net Income | 3.2 | 7.1 | 6.1 | 2.1 | 16.5 | 666.4% |
Balance Sheet
|
|---|
| Cash | 2.8 | 3.2 | 24.7 | 18.7 | | -100.0% |
| Short Term Debt | 0.0 | 0.0 | 0.0 | 0.0 | | |
| Long Term Debt | 0.0 | 0.0 | 0.0 | 0.0 | | |
Cash flow
|
|---|
| Capex | 0.2 | 0.2 | 0.2 | 0.3 | | -100.0% |
Ratios
|
|---|
| Revenue growth | 24.4% | 71.1% | 45.7% | 20.1% | 66.0% | |
| EBITDA growth | 0.5% | 124.3% | 11.7% | -34.4% | | |
| Gross Margin | 28.0% | 32.6% | 30.2% | 27.8% | | -27.8% |
| EBITDA Margin | 15.4% | 20.1% | 15.4% | 8.4% | 0.0% | -8.4% |
| Net Income Margin | 12.8% | 16.4% | 9.7% | 2.8% | 13.1% | 10.3% |
| SG&A, % of revenue | | | 8.9% | 12.0% | | -12.0% |
| CAPEX, % of revenue | 0.7% | 0.5% | 0.3% | 0.4% | | -0.4% |
| ROIC | 1,225.2% | 1,669.1% | 39.0% | 6.4% | | -6.4% |
| ROE | 976.2% | 1,373.7% | 28.5% | 4.9% | | -4.9% |
| Net Debt/EBITDA | -0.7x | -0.4x | -2.5x | -2.9x | | 2.9x |
Revenue and profitability
Marimedia Ltd's Revenue jumped on 66.0% in FY2016.
Net Income marign surged on 10.3 pp from 2.8% to 13.1% in FY2016.
Appendix 1: Peers in Media
Below we provide Marimedia Ltd benchmarking against other companies in Media 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 |
|---|
| Tla Worldwide ($TLA) | 5,338.4% | 25.0% | 6.3% | 130.0% | |
| Porta Communications ($PTCM) | 970.2% | 10.7% | 150.9% | 46.5% | |
| Jaywing ($JWNG) | | -27.9% | -0.7% | 26.6% | 6.5% |
| Nahl Group ($NAH) | 12.6% | -3.2% | -10.7% | 15.7% | |
| Dcd Media ($DCD) | -17.0% | -23.4% | -21.2% | 14.5% | |
| |
|---|
| Median (23 companies) | -1.0% | -2.9% | 1.2% | 0.8% | 10.1% |
|---|
| Marimedia Ltd ($MARI) | | 71.1% | 45.7% | 20.1% | 66.0% |
Top companies by Gross margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Jaywing ($JWNG) | 79.8% | 76.8% | 81.0% | 89.0% | 88.4% |
| Brainjuicer Group ($BJU) | 77.2% | 78.0% | 78.8% | 80.4% | 82.1% |
| Porta Communications ($PTCM) | 55.3% | 89.2% | 83.4% | 79.0% | |
| Tla Worldwide ($TLA) | 96.1% | 96.6% | 99.9% | 78.8% | |
| Haynes Publishing Group ($HYNS) | 59.9% | 59.6% | 52.9% | 60.2% | 53.6% |
| |
|---|
| Median (24 companies) | 42.0% | 42.3% | 43.8% | 42.2% | 42.4% |
|---|
| Marimedia Ltd ($MARI) | 28.0% | 32.6% | 30.2% | 27.8% | |
Top companies by EBITDA margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Dq Entertainment ($DQE) | 42.8% | 49.2% | 62.4% | 59.1% | |
| Haynes Publishing Group ($HYNS) | 25.7% | 23.4% | 38.8% | 33.5% | 15.4% |
| Nahl Group ($NAH) | 36.6% | 39.6% | 28.8% | 29.5% | |
| Tla Worldwide ($TLA) | 43.5% | 39.1% | 40.6% | 28.5% | |
| Quarto Group Inc ($QRT) | 20.0% | 25.9% | 27.8% | 28.4% | |
| |
|---|
| Median (24 companies) | 14.7% | 13.9% | 13.7% | 11.8% | 9.5% |
|---|
| Marimedia Ltd ($MARI) | 15.4% | 20.1% | 15.4% | 8.4% | |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Avesco Group ($AVS) | 22.7% | 13.2% | 18.6% | 14.4% | |
| Mood Media Corp ($MM.) | 8.6% | 6.4% | 6.9% | 8.2% | 5.9% |
| Spaceandpeople ($SAL) | 3.2% | 4.1% | 1.6% | 5.0% | |
| Dq Entertainment ($DQE) | 6.8% | 2.0% | 0.0% | 4.6% | |
| Naspers ($NPSN) | 4.7% | 4.9% | | 4.0% | 3.1% |
| |
|---|
| Median (24 companies) | 1.3% | 1.8% | 1.7% | 1.1% | 0.9% |
|---|
| Marimedia Ltd ($MARI) | 0.7% | 0.5% | 0.3% | 0.4% | |
Top companies by ROIC, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Independent News & Media ($INM) | -43.9% | 136.2% | 29.6% | 65.1% | |
| Brainjuicer Group ($BJU) | 24.3% | 49.0% | 60.0% | 58.5% | 72.5% |
| Uls Technology ($ULS) | | 33.2% | 44.1% | 39.6% | 39.3% |
| Cellcast Group ($CLTV) | -63.1% | | | 28.4% | |
| Nahl Group ($NAH) | 37.1% | 42.3% | 31.5% | 26.0% | |
| |
|---|
| Median (24 companies) | 5.5% | 5.6% | 7.8% | 6.7% | 1.7% |
|---|
| Marimedia Ltd ($MARI) | | | 39.0% | 6.4% | |
Top companies by Net Debt / EBITDA
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Johnston Press ($JPR) | 5.8x | | 11.4x | 15.6x | |
| Mood Media Corp ($MM.) | 5.2x | 8.1x | 8.2x | 9.8x | 7.9x |
| Naspers ($NPSN) | 1.4x | 1.9x | | 6.2x | 14.7x |
| Grupo Clarin Sa ($GCLA) | 0.9x | 0.8x | 0.7x | 4.3x | 0.3x |
| Dq Entertainment ($DQE) | 1.1x | 1.5x | 1.5x | 2.8x | |
| |
|---|
| Median (22 companies) | 1.0x | 0.8x | 1.0x | 0.9x | -0.1x |
|---|
| Marimedia Ltd ($MARI) | -0.7x | -0.4x | -2.5x | -2.9x | |
