Kerry Group reports 13.3 pp EBITDA Margin decline from 13.3% to in 2019 in 2019
18 Feb 2020 • About Kerry Group (
$KYGA) • By InTwits
Kerry Group reported FY2019 financial results today. Below you can find a comprehensive analysis of the key data driving the company's performance and the stock price.
Revenue and profitability
The company's Revenue increased on 9.6%.
Net Income margin showed almost no change in FY2019. During the last 5 years Net Income margin topped in FY2017 at 9.2% and was declining since that time.
Management team
The company's CEO is Edmond Scanlon. Edmond Scanlon is a founder and has 2 years tenure with the company. The company's CFO Marguerite Larkin has spent 1 year with the company.
Financial and operational results
FY ended 30 Nov -0001
Kerry Group ($KYGA) key annual financial indicators| mln. € | 2015 | 2016 | 2017 | 2018 | 2019 | 2019/2018 |
|---|
P&L
|
|---|
| Revenue | 6,105 | 6,131 | 6,408 | 6,608 | 7,241 | 9.6% |
| EBITDA | 840 | 798 | 785 | 879 | | |
| EBIT | | | | 691 | | |
| Interest expence | | | | 66 | | |
| Tax | | | | 77 | | |
| Net Income | 525 | 533 | 589 | 541 | 567 | 4.8% |
| Stock Based Compensation | | | | 12 | | |
Balance Sheet
|
|---|
| Cash | 236 | 565 | 313 | 414 | | |
| Accounts Receivable | | | | 968 | | |
| Inventory | | | | 878 | | |
| Accounts Payable | | | | 1,482 | | |
| Short Term Debt | 38 | 193 | 13 | 14 | | |
| Long Term Debt | 2,012 | 1,867 | 1,728 | 2,120 | | |
Cash flow
|
|---|
| Capex | 252 | 224 | 301 | 296 | | |
| Dividends | | | | 114 | | |
Ratios
|
|---|
| Revenue growth | 6.1% | 0.4% | 4.5% | 3.1% | 9.6% | |
| EBITDA growth | 16.7% | -5.0% | -1.6% | 12.0% | | |
|
|---|
| EBITDA Margin | 13.8% | 13.0% | 12.3% | 13.3% | |
| EBIT Margin | | | | 10.5% | |
| SBC, % of revenue | | | | 0.2% | |
| Net Income Margin | 8.6% | 8.7% | 9.2% | 8.2% | 7.8% | -0.4% |
| CAPEX, % of revenue | 4.1% | 3.7% | 4.7% | 4.5% | | |
|
|---|
| ROIC | 15.8% | 12.8% | 11.9% | 11.3% | | |
| ROE | 20.9% | 18.1% | 17.7% | 14.2% | | |
| Net Debt/EBITDA | 2.2x | 1.9x | 1.8x | 2.0x | |
| Interest expence / Average debt | | | | 3.1% | | |
People
|
|---|
| Insider ownership | | | | 0.1% | | |
| Employees | | | | 25,255 | | |
| Revenue/Employee, th. € | | | | 262 | | |
Peers in Food Producers
Below we provide Kerry Group benchmarking against other companies in Food Producers 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 | FY2015 | FY2016 | FY2017 | FY2018 | FY2019 |
|---|
| Real Good Food ($RGD) | -5.1% | -4.0% | 7.3% | 20.5% | |
| Wynnstay Group ($WYN) | | -2.4% | 6.1% | 18.4% | 6.0% |
| Carr'S Milling Industries ($CRM) | -22.8% | -4.9% | 9.9% | 16.5% | |
| Zambeef Products ($ZAM) | | 52.8% | 2.5% | 14.2% | 12.7% |
| Cherkizovo Group OJSC ($CHE) | | 7.0% | 9.8% | 11.0% | 19.6% |
| |
|---|
| Median (10 companies) | -6.1% | 0.6% | 7.3% | 8.7% | 6.0% |
|---|
| Kerry Group ($KYGA) | | 0.4% | 4.5% | 3.1% | 9.6% |
Top companies by Gross margin, %
| Top 5 | FY2015 | FY2016 | FY2017 | FY2018 | FY2019 |
|---|
| Unilever ($ULVR) | 42.2% | 42.7% | 43.1% | 43.6% | |
| Produce Investments ($PIL) | 36.4% | 37.9% | 35.7% | 37.8% | |
| Zambeef Products ($ZAM) | 43.2% | 36.3% | 32.9% | 35.0% | 34.2% |
| Cherkizovo Group OJSC ($CHE) | 24.9% | 21.7% | 26.0% | 25.0% | 24.3% |
| Tongaat Hulett Ltd ($THL) | 22.4% | 19.9% | 22.9% | 20.6% | 27.1% |
| |
|---|
| Median (10 companies) | 24.6% | 26.6% | 25.2% | 19.9% | 25.7% |
|---|
Top companies by EBITDA margin, %
| Top 5 | FY2015 | FY2016 | FY2017 | FY2018 | FY2019 |
|---|
| Unilever ($ULVR) | 16.8% | 18.0% | 19.8% | 28.1% | 20.6% |
| Cherkizovo Group OJSC ($CHE) | 14.7% | 12.0% | 16.7% | 21.6% | 15.1% |
| Tongaat Hulett Ltd ($THL) | 16.5% | 17.5% | 19.3% | 17.5% | 10.9% |
| Tate & Lyle ($BD15) | 6.1% | 10.3% | 13.9% | 16.4% | |
| Zambeef Products ($ZAM) | 14.7% | 9.7% | 5.3% | 8.1% | 9.0% |
| |
|---|
| Median (11 companies) | 10.4% | 10.0% | 13.7% | 5.1% | 10.9% |
|---|
| Kerry Group ($KYGA) | 13.8% | 13.0% | 12.3% | 13.3% | |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2015 | FY2016 | FY2017 | FY2018 | FY2019 |
|---|
| Tongaat Hulett Ltd ($THL) | 5.0% | 10.9% | 6.0% | 12.1% | 6.4% |
| Cherkizovo Group OJSC ($CHE) | 12.2% | 10.4% | 10.9% | 9.1% | 6.7% |
| Real Good Food ($RGD) | 1.4% | 6.4% | 10.0% | 8.4% | |
| Zambeef Products ($ZAM) | 15.9% | 2.1% | 6.4% | 5.4% | 3.6% |
| Tate & Lyle ($BD15) | 5.2% | 7.6% | 4.6% | 4.1% | |
| |
|---|
| Median (11 companies) | 5.0% | 4.9% | 4.6% | 2.8% | 3.6% |
|---|
| Kerry Group ($KYGA) | 4.1% | 3.7% | 4.7% | 4.5% | |
Top companies by ROIC, %
| Top 5 | FY2015 | FY2016 | FY2017 | FY2018 | FY2019 |
|---|
| Unilever ($ULVR) | 26.0% | 24.3% | 24.6% | 31.6% | 20.7% |
| Tate & Lyle ($BD15) | 1.8% | 7.2% | 12.1% | 14.4% | |
| Cherkizovo Group OJSC ($CHE) | 8.9% | 5.6% | 10.2% | 13.3% | 8.0% |
| Origin Enterprises ($OGN) | 20.1% | 15.3% | 11.1% | 13.0% | |
| Wynnstay Group ($WYN) | 9.7% | 8.0% | 8.3% | 9.9% | 7.3% |
| |
|---|
| Median (13 companies) | 8.9% | 7.9% | 7.3% | 8.4% | 8.0% |
|---|
| Kerry Group ($KYGA) | 15.8% | 12.8% | 11.9% | 11.3% | |
Top companies by Net Debt / EBITDA
| Top 5 | FY2015 | FY2016 | FY2017 | FY2018 | FY2019 |
|---|
| Cherkizovo Group OJSC ($CHE) | 3.1x | 3.8x | 3.2x | 2.7x | 3.4x |
| Tongaat Hulett Ltd ($THL) | 1.8x | 2.1x | 1.5x | 2.3x | 5.6x |
| Zambeef Products ($ZAM) | 3.0x | 2.1x | 4.0x | 2.0x | 2.7x |
| Unilever ($ULVR) | 1.4x | 1.4x | 2.0x | 1.5x | 2.3x |
| Tate & Lyle ($BD15) | 4.0x | 1.8x | 1.1x | 0.9x | |
| |
|---|
| Median (8 companies) | 1.6x | 1.4x | 2.0x | 1.2x | 2.7x |
|---|
| Kerry Group ($KYGA) | 2.2x | 1.9x | 1.8x | 2.0x | |
