Corporate Treasury

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2018 Annual Statements

Fiamma Holdings Bhd
Business Report
REPORTING DETAILS
Name 2014 2015 2016 2017 2018 Note Formula/workings for the calculation of ratio Remarks / Reference /Source
Statement type Annual Conso Annual Conso Annual Conso Annual Conso Annual Conso
Begin date of reporting period 2013-10-01 2014-10-01 2015-10-01 2016-10-01 2017-10-01
Period end date 2014-09-30 2015-09-30 2016-09-30 2017-09-30 2018-09-30
Units Thousands MYR Thousands MYR Thousands MYR Thousands MYR Thousands MYR
Income Statement
Name 2014 2015 2016 2017 2018 Note Formula/workings for the calculation of ratio Remarks / Reference /Source
Total operating revenue 339,411 359,121 285,873 316,569 340,974 Given To reconcile with AR2018 figures.
  Net sales revenue 338,161 333,488 283,813 315,607
  Cost of goods sold (213,855) (216,486) (185,073) (210,940)
Gross profit 124,306 117,002 98,740 104,667
  Administrative expenses (59,617) (63,587) (64,065) (64,116)
  Depreciation, amortization and impairment charges (3,131) (3,364) (4,427) (5,172)
  Net other operating result 1,296 25,629 2,218 1,246
    Other operating income 1,250 25,633 2,060 962
    Other Net Operating Results 46 (4) 158 284
Operating profit (EBIT) 62,854 75,680 32,466 36,625
EBITDA 65,939 79,048 36,735 41,513
Financial result 330 55 (2,772) (2,856)
  Finance income 2,423 3,798 2,654 1,799
    Interest income 2,423 3,798 2,654 1,799
  Finance Expenses (2,093) (3,743) (5,426) (4,655)
    Interest expense (2,093) (3,743) (5,426) (4,655)
Net - other non-operating result (2) (320) 4,440 95
Profit before income tax 63,182 75,415 34,134 33,864
Income tax (17,709) (14,823) (8,856) (9,674)
Profit after income tax 45,473 60,592 25,278 24,190
Net Profit (Loss) for the Period 45,473 60,592 25,278 24,190
  - Profit (loss) attributable to Owners 41,396 56,538 23,217 22,508
   - Profit (loss) attributable to Minority Interests 4,077 4,054 2,061 1,682
Balance Sheet
Name 2014 2015 2016 2017 2018 Note Formula/workings for the calculation of ratio Remarks / Reference /Source
Total assets 471,580 654,346 700,659 726,254
  Non-current assets 92,546 237,922 206,054 209,630
    Property, plant and equipment 35,627 85,769 99,934 103,681
    Intangible assets and goodwill 500 500 500 500
      Other intangible assets 500 500 500 500
    Long-term financial assets 38,954 71,256 75,684 75,684
    Other non-current assets 17,465 80,397 29,936 29,765
  Current assets 379,034 416,424 494,605 516,624
    Inventories 174,709 217,512 314,764 331,405
    Trade and other receivables 82,401 94,566 82,711 98,853
    Prepayments, accrued income and other deferred current assets 745 2,986 3,562 3,682
    Short term financial assets 0 0 0 0
    Cash and Cash Equivalents 114,709 92,210 87,638 78,938
    Other current assets 6,470 9,150 5,930 3,746
Total equity and liabilities 471,580 654,346 700,659 726,254
  Total equity 337,070 389,683 450,898 466,964
    Equity attributable to owners of the parent 320,858 369,988 429,775 445,910
      Issued capital 144,085 144,725 264,951 265,028
        Ordinary shares 144,085 144,725 264,951 265,028
      Treasury shares -5,775 -6,044 -4,649 -11,694
      Other reserves 22,706 23,176 31,063 39,414
      Retained earnings 159,796 208,085 138,410 153,162
      Other components of equity 46 46 0 0
    Minority interest 16,212 19,695 21,123 21,054
  Total liabilities 134,510 264,663 249,761 259,290
    Non-current liabilities 6,474 99,034 119,718 110,622
      Non-current loans and borrowings 3,586 81,330 101,817 97,534
      Deferred revenue, accrued expenses and other deferred non-current liabilities 2,888 4,955 5,152 5,552
      Other non-current liabilities 0 12,749 12,749 7,536
    Current liabilities 128,036 165,629 130,043 148,668
      Current loans and borrowings 65,350 91,351 66,141 83,188
      Trade and other payables 18,780 23,120 23,827 28,585
      Other current liabilities 40,787 48,412 38,660 36,554
      Current income tax liabilities 3,119 2,746 1,415 341
Cash Flow Statement
Name 2014 2015 2016 2017 2018 Notes Formula/workings for the calculation of ratio Remarks / Reference/Source
Net cash flow from (used in) operating activities 55,656 -11,138 -7,105 -2,528
  Net profit 63,182 75,415 34,134 33,864
  Cash generated from operations -9,703 -63,348 -41,734 -45,562
    Adjustments for: Depreciation and impairment of property, plant and equipment 3,131 3,364 4,427 5,172
    Changes in: Inventories 3,982 -11,484 -10,140 7,247
    Changes in: Trade and other receivables 131 -14,872 15,186 -17,531
    Changes in: Trade and other payables 11,305 11,976 -9,030 -2,369
    Changes in: Other changes -28,252 -52,332 -42,177 -38,081
  Other operating activity cash flows 2,177 -23,205 495 9,170
Net cash flow from (used in) investing activities -25,883 -108,486 -10,434 754
Net cash flow from (used in) financing activities -10,267 94,624 23,980 -23,784
Net increase (decrease) in cash and cash equivalents 19,506 -25,000 6,441 -25,558
Cash at the beginning of the period 84,603 104,109 79,217 85,709
Exchange gain (loss) on cash and cash equivalents 0 108 51 91
Cash at the end of the period 104,109 79,217 85,709 60,242

2018 Ratios & Multiples

Fiamma Holdings Bhd
Business Report
Ratios
REPORTING DETAILS
Name 2014 2015 2016 2017 2018 Notes Formula/workings for the calculation of ratio Remarks / Reference/Source
Statement type Annual, Cons. Annual, Cons. Annual, Cons. Annual, Cons. Annual, Cons.
Period end date 2014-09-30 2015-09-30 2016-09-30 2017-09-30 2018-09-30
Units Thousands MYR Thousands MYR Thousands MYR Thousands MYR Thousands MYR
Ratios
Name 2014 2015 2016 2017 2018
Profitability
Return on Assets (ROA) 9.64% 9.26% 3.61% 3.33%
Annualised Return on Assets (ROA) 9.64% 9.26% 3.61% 3.33%
Return on Equity (ROE) 13.49% 15.55% 5.61% 5.18%
Annualised Return on Equity (ROE) 13.49% 15.55% 5.61% 5.18%
Return on Capital Employed 18.30% 15.49% 5.69% 6.34%
Net Profit Margin 13.45% 18.17% 8.91% 7.66%
Gross Profit Margin 36.76% 35.08% 34.79% 33.16%
Operating Profit Margin (ROS) 18.59% 22.69% 11.44% 11.60%
EBITDA Margin 19.50% 23.70% 12.94% 13.15%
Operating ROA 13.33% 11.57% 4.63% 5.04%
Efficiency
Inventory Turnover 1.22x 1.00x 0.59x 0.64x
Current Asset Turnover 0.89x 0.80x 0.57x 0.61x
Non-current Asset Turnover 3.65x 1.40x 1.38x 1.51x
Total Asset Turnover 0.72x 0.51x 0.41x 0.43x
Working Capital Turnover 1.35x 1.33x 0.78x 0.86x
Export Proportion 0.00% 0.00% 0.00% 0.00%
Valuation Figures
BookValue (BV) 336,570 389,183 450,398 466,464
Enterprise Value 310,480 340,410 204,308 260,653
Net Cash (19,801) (172,453) (162,123) (180,352)
Debt 68,936 172,681 167,958 180,722
Long term Debt 3,586 81,330 101,817 97,534
Short Term Debt 65,350 91,351 66,141 83,188
Net Debt (45,773) 80,471 80,320 101,784
Market Capitalization 340,041 240,244 102,865 137,815
Working Capital 250,998 250,795 364,562 367,956
Capital Employed 343,544 488,717 570,616 577,586
Liquidity
Current Ratio 2.96 2.51 3.80 3.48
Quick Ratio 1.60 1.20 1.38 1.25
Doom's Day Ratio 0.90 0.56 0.67 0.53
Cash Ratio 0.90x 0.56x 0.67x 0.53x
Operating Cash Flow Ratio 0.43x -0.07x -0.05x -0.02x
Leverage
Debt to Total Assets Ratio 14.62% 26.39% 23.97% 24.88%
Debt to Equity Ratio 20.45% 44.31% 37.25% 38.70%
Long Term Debt to Capital Employed 1.04% 16.64% 17.84% 16.89%
Debt to EBITDA 1.05 2.18 4.57 4.35
Debt to Enterprise Value 22.20% 50.73% 82.21% 69.33%
Net Cash Flow to Debt 28.30% -14.48% 3.83% -14.14%
Assets to Equity Ratio 1.40x 1.68x 1.55x 1.56x
Growth Trend
Net Sales Revenue Trend 15.46% -1.38% -14.90% 11.20%
Total Operating Revenue Trend 15.33% 5.81% -20.40% 10.74%
Gross Profit Trend 17.33% -5.88% -15.61% 6.00%
EBITDA Trend 24.05% 19.88% -53.53% 13.01%
Operating Profit Trend 25.62% 20.41% -57.10% 12.81%
Net Profit Trend 19.52% 33.25% -58.28% -4.30%
Inventory Trend 1.34% 24.50% 44.71% 5.29%
Net Property, Plant and Equipment (PP&E) Trend 23.10% 140.74% 16.52% 3.75%
Total Assets Trend 12.20% 38.76% 7.08% 3.65%
Bookvalue Trend 11.68% 15.63% 15.73% 3.57%
Shareholders' Equity Trend 11.66% 15.61% 15.71% 3.56%
Operating Cash Flow Trend 25.90% -120.01% -36.21% -64.42%
Coverage Ratios
Interest Coverage Ratio 30.03x 20.22x 5.98x 7.87x
Operating Cash Flow to Debt 0.81x -0.06x -0.04x -0.01x
Performance
Operating Cash Flow to Revenue 16.46% -3.34% -2.50% -0.80%
Operating Cash Flow to Assets 11.80% -1.70% -1.01% -0.35%
Operating Cash Flow to Equity 16.51% -2.86% -1.58% -0.54%
Operating Cash Flow to EBIT 88.55% -14.72% -21.88% -6.90%
Common-size Ratios
Cash to Total Assets 24.32% 14.09% 12.51% 10.87%
Trade Receivables to Total Assets 0.00% 0.00% 0.00% 0.00%
Inventories to Total Assets 37.05% 33.24% 44.92% 45.63%
Fixed Assets to Total Assets 7.55% 13.11% 14.26% 14.28%
Current Liabilities to Total Liabilities 95.19% 62.58% 52.07% 57.34%
Salaries and Employee Benefits to Net sales 0.00% 0.00% 0.00% 0.00%
Administrative Expenses to Net Sales 17.63% 19.07% 22.57% 20.32%
Depreciation and Amortization to Net sales 0.93% 1.01% 1.56% 1.64%
Interest paid to Net sales 0.62% 1.12% 1.91% 1.47%
Income tax to Net sales 5.24% 4.44% 3.12% 3.07%
Operating Cash Flow to Total Cash Flow 285.33% 44.55% -110.31% 9.89%
Investing Cash Flow to Total Cash Flow -132.69% 433.94% -161.99% -2.95%
Financing Cash Flow to Total Cash Flow -52.64% -378.50% 372.30% 93.06%