Maadaniyah turns to SAR 51 mln losses in 9M 2019

05/11/2019 Argaam Exclusive

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Share Price

National Metal Manufacturing and Casting Co. (MAADANIYAH)

National Metal Manufacturing and Casting Co. (Maadaniyah) reported net losses of SAR 51.37 million for the first nine months of 2019, versus net profit of SAR 2.24 million in year-earlier period, driven by lower sales, weak demand, higher charges, in addition to sustaining impairment losses.

Financials (M)

Item	9m 2018	9m 2019	Change‬
Revenues	295.25	204.57	(30.7 %)
Gross Income	35.61	17.12	(51.9 %)
Operating Income	9.04	(5.25)	(158.0 %)
Net Income	2.24	(51.37)	(2391.4 %)
Average Shares	29.95	29.95	-
EPS (Riyals)	0.07	(1.72)	(2391.4 %)

Net loss for Q3 2019 widened to SAR 47.08 million versus SAR 0.62 million in year earlier period, due to lower sales on soft demand and lower average selling prices.

On a sequential basis, Q3 2019 net losses widened significantly from SAR 4.1 million losses in Q2 2019.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2018	Q3 2019	Change‬
Revenues	101.60	58.05	(42.9 %)
Gross Income	11.17	1.86	(83.3 %)
Operating Income	1.90	(4.69)	(346.8 %)
Net Income	(0.62)	(47.08)	(7,469.5 %)
Average Shares	29.95	29.95	-
EPS (Riyals)	(0.02)	(1.57)	(7,469.5 %)

Item	Q2 2019	Q3 2019	Change‬
Revenues	65.82	58.05	(11.8 %)
Gross Income	5.97	1.86	(68.9 %)
Operating Income	(2.40)	(4.69)	(95.9 %)
Net Income	(4.10)	(47.08)	(1,048.9 %)
Average Shares	29.95	29.95	-
EPS (Riyals)	(0.14)	(1.57)	(1,048.9 %)

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
Q1 2010	92.24	17.7 %	15.14	103.9 %	8.16	686.1 %	0.27
Q2 2010	92.80	9.8 %	17.71	102.3 %	10.17	367.5 %	0.34
Q3 2010	64.06	(13.1 %)	7.71	(44.2 %)	1.40	(80.0 %)	0.05
Q4 2010	68.73	(16.8 %)	3.43	(75.2 %)	(3.01)	(156.6 %)	(0.10)
2010	317.84	(0.4 %)	43.99	0.4 %	16.71	7.6 %	0.56
Q1 2011	89.62	(2.8 %)	8.42	(44.4 %)	1.21	(85.2 %)	0.04
Q2 2011	96.90	4.4 %	11.78	(33.5 %)	2.41	(76.3 %)	0.08
Q3 2011	82.88	29.4 %	8.12	5.2 %	1.16	(17.1 %)	0.04
Q4 2011	92.06	33.9 %	5.80	69.3 %	(1.59)	47.2 %	(0.05)
2011	361.47	13.7 %	34.12	(22.4 %)	3.19	(80.9 %)	0.11
Q1 2012	95.35	6.4 %	9.66	14.7 %	2.85	135.2 %	0.10
Q2 2012	109.40	12.9 %	10.75	(8.7 %)	3.07	27.7 %	0.10
Q3 2012	107.83	30.1 %	9.68	19.3 %	1.84	58.7 %	0.06
Q4 2012	88.09	(4.3 %)	5.32	(8.4 %)	(1.88)	(18.4 %)	(0.06)
2012	400.67	10.8 %	35.41	3.8 %	5.88	84.4 %	0.20
Q1 2013	98.87	3.7 %	11.23	16.3 %	2.96	3.9 %	0.10
Q2 2013	102.54	(6.3 %)	12.22	13.7 %	4.23	37.6 %	0.14
Q3 2013	87.91	(18.5 %)	9.11	(5.9 %)	1.80	(2.3 %)	0.06
Q4 2013	91.78	4.2 %	11.33	113.0 %	1.72	191.2 %	0.06
2013	381.10	(4.9 %)	43.89	23.9 %	10.70	82.0 %	0.36
Q1 2014	110.75	12.0 %	17.78	58.4 %	7.74	161.4 %	0.26
Q2 2014	109.63	6.9 %	17.56	43.7 %	8.82	108.6 %	0.29
Q3 2014	94.13	7.1 %	16.21	78.0 %	8.58	377.9 %	0.29
Q4 2014	98.65	7.5 %	12.12	7.0 %	(4.39)	(355.4 %)	(0.15)
2014	413.16	8.4 %	63.67	45.1 %	20.75	93.9 %	0.69
Q1 2015	114.77	3.6 %	21.35	20.1 %	12.47	61.3 %	0.42
Q2 2015	107.80	(1.7 %)	21.11	20.2 %	9.42	6.7 %	0.31
Q3 2015	95.00	0.9 %	17.28	6.6 %	8.93	4.1 %	0.30
Q4 2015	89.76	(9.0 %)	18.47	52.5 %	(1.48)	66.2 %	(0.05)
2015	407.32	(1.4 %)	78.22	22.9 %	29.34	41.4 %	0.98
Q1 2016	79.11	(31.1 %)	21.47	0.6 %	11.67	(6.4 %)	0.39
Q2 2016	82.07	(23.9 %)	21.61	2.3 %	11.01	16.9 %	0.37
Q3 2016	50.11	(47.3 %)	9.73	(43.7 %)	1.52	(83.0 %)	0.05
Q4 2016	61.41	(31.6 %)	6.48	(64.9 %)	(2.20)	(48.1 %)	(0.07)
2016	273.08	(33.0 %)	59.67	(23.7 %)	22.55	(23.1 %)	0.75
Q1 2017	65.88	(16.7 %)	12.04	(44.0 %)	1.45	(87.6 %)	0.05
Q2 2017	57.60	(29.8 %)	5.60	(74.1 %)	(6.37)	(157.9 %)	(0.21)
Q3 2017	68.14	36.0 %	6.62	(31.9 %)	(4.49)	(395.6 %)	(0.15)
Q4 2017	101.86	65.9 %	12.02	85.4 %	(10.26)	(366.9 %)	(0.34)
2017	293.48	7.5 %	36.27	(39.2 %)	(19.66)	(187.2 %)	(0.66)
Q1 2018	82.02	24.5 %	9.49	(21.1 %)	(0.89)	(161.0 %)	(0.03)
Q2 2018	111.63	93.8 %	14.95	167.2 %	3.75	158.8 %	0.13
Q3 2018	101.60	49.1 %	11.17	68.7 %	(0.62)	86.1 %	(0.02)
Q4 2018	95.92	(5.8 %)	12.30	2.3 %	2.29	122.3 %	0.08
2018	391.17	33.3 %	47.91	32.1 %	4.53	123.0 %	0.15
Q1 2019	80.70	(1.6 %)	9.29	(2.2 %)	(0.19)	78.3 %	(0.01)
Q2 2019	65.82	(41.0 %)	5.97	(60.0 %)	(4.10)	(209.3 %)	(0.14)
Q3 2019	58.05	(42.9 %)	1.86	(83.3 %)	(47.08)	(7,469.5 %)	(1.57)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
2009	319.19	(36.2 %)	43.83	(40.9 %)	15.53	(61.4 %)	0.52
2010	317.84	(0.4 %)	43.99	0.4 %	16.71	7.6 %	0.56
2011	361.47	13.7 %	34.12	(22.4 %)	3.19	(80.9 %)	0.11
2012	400.67	10.8 %	35.41	3.8 %	5.88	84.4 %	0.20
2013	381.10	(4.9 %)	43.89	23.9 %	10.70	82.0 %	0.36
2014	413.16	8.4 %	63.67	45.1 %	20.75	93.9 %	0.69
2015	407.32	(1.4 %)	78.22	22.9 %	29.34	41.4 %	0.98
2016	273.08	(33.0 %)	59.67	(23.7 %)	22.55	(23.1 %)	0.75
2017	293.48	7.5 %	36.27	(39.2 %)	(19.66)	(187.2 %)	(0.66)
2018	391.17	33.3 %	47.91	32.1 %	4.53	123.0 %	0.15

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2010	15.47 %	13.44 %	6.86 %
Q2 2010	17.72 %	15.51 %	9.04 %
Q3 2010	16.39 %	14.11 %	7.61 %
Q4 2010	13.84 %	11.82 %	5.26 %
2010	13.84 %	11.82 %	5.26 %
Q1 2011	11.83 %	9.61 %	3.10 %
Q2 2011	9.81 %	7.40 %	0.63 %
Q3 2011	9.39 %	6.99 %	0.52 %
Q4 2011	9.44 %	6.85 %	0.88 %
2011	9.44 %	6.85 %	0.88 %
Q1 2012	9.63 %	7.16 %	1.31 %
Q2 2012	9.04 %	6.80 %	1.45 %
Q3 2012	8.87 %	6.54 %	1.52 %
Q4 2012	8.84 %	6.42 %	1.47 %
2012	8.84 %	6.55 %	1.47 %
Q1 2013	9.15 %	6.54 %	1.48 %
Q2 2013	9.68 %	7.06 %	1.80 %
Q3 2013	10.04 %	7.55 %	1.88 %
Q4 2013	11.52 %	8.59 %	2.81 %
2013	11.52 %	8.59 %	2.81 %
Q1 2014	12.83 %	9.75 %	3.94 %
Q2 2014	13.94 %	10.61 %	5.02 %
Q3 2014	15.48 %	11.90 %	6.61 %
Q4 2014	15.41 %	12.48 %	7.29 %
2014	15.41 %	12.52 %	7.29 %
Q1 2015	16.12 %	13.34 %	8.36 %
Q2 2015	17.04 %	14.26 %	8.54 %
Q3 2015	17.27 %	14.38 %	8.61 %
Q4 2015	19.20 %	15.79 %	10.08 %
2015	19.20 %	15.79 %	10.08 %
Q1 2016	21.08 %	17.19 %	10.83 %
Q2 2016	22.79 %	18.48 %	12.10 %
Q3 2016	23.68 %	19.21 %	11.44 %
Q4 2016	21.74 %	17.56 %	8.07 %
2016	21.85 %	17.88 %	8.26 %
Q1 2017	19.21 %	14.87 %	4.54 %
Q2 2017	14.40 %	9.23 %	(2.38 %)
Q3 2017	12.14 %	7.56 %	(4.59 %)
Q4 2017	12.36 %	8.53 %	(5.03 %)
2017	12.36 %	8.53 %	(5.02 %)
Q1 2018	10.89 %	7.55 %	(5.52 %)
Q2 2018	11.85 %	9.02 %	(1.92 %)
Q3 2018	11.99 %	8.60 %	(0.78 %)
Q4 2018	12.25 %	8.33 %	1.16 %
2018	12.25 %	8.33 %	1.16 %
Q1 2019	12.24 %	8.27 %	1.34 %
Q2 2019	11.26 %	7.10 %	(0.76 %)
Q3 2019	9.79 %	5.92 %	(3.00 %)

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2009	13.73 %	11.66 %	4.93 %
2010	13.84 %	11.82 %	5.26 %
2011	9.44 %	6.85 %	0.88 %
2012	8.84 %	6.55 %	1.47 %
2013	11.52 %	8.59 %	2.81 %
2014	15.41 %	12.52 %	7.29 %
2015	19.20 %	15.79 %	10.08 %
2016	21.85 %	17.88 %	8.26 %
2017	12.36 %	8.53 %	(5.02 %)
2018	12.25 %	8.33 %	1.16 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2010	16.41 %	14.92 %	8.85 %
Q2 2010	19.08 %	16.50 %	10.96 %
Q3 2010	12.04 %	10.03 %	2.18 %
Q4 2010	4.99 %	3.01 %	(4.38 %)
Q1 2011	9.40 %	7.23 %	1.35 %
Q2 2011	12.15 %	8.94 %	2.48 %
Q3 2011	9.79 %	7.75 %	1.40 %
Q4 2011	6.30 %	3.47 %	(1.73 %)
Q1 2012	10.13 %	8.39 %	2.99 %
Q2 2012	9.83 %	7.49 %	2.81 %
Q3 2012	8.98 %	6.55 %	1.70 %
Q4 2012	6.04 %	2.81 %	(2.14 %)
Q1 2013	11.35 %	8.81 %	2.99 %
Q2 2013	11.92 %	9.56 %	4.13 %
Q3 2013	10.36 %	8.52 %	2.04 %
Q4 2013	12.34 %	7.32 %	1.87 %
Q1 2014	16.05 %	12.92 %	6.98 %
Q2 2014	16.02 %	12.72 %	8.05 %
Q3 2014	17.22 %	14.22 %	9.11 %
Q4 2014	12.28 %	10.06 %	5.07 %
Q1 2015	18.61 %	16.03 %	10.87 %
Q2 2015	19.58 %	16.28 %	8.73 %
Q3 2015	18.19 %	14.73 %	9.40 %
Q4 2015	20.58 %	16.03 %	11.41 %
Q1 2016	27.14 %	22.69 %	14.76 %
Q2 2016	26.33 %	21.43 %	13.41 %
Q3 2016	19.41 %	15.77 %	3.03 %
Q4 2016	10.55 %	7.24 %	(3.58 %)
Q1 2017	18.27 %	13.13 %	2.21 %
Q2 2017	9.71 %	1.20 %	(11.06 %)
Q3 2017	9.72 %	7.83 %	(6.58 %)
Q4 2017	11.80 %	10.15 %	(5.25 %)
Q1 2018	11.57 %	8.54 %	(1.08 %)
Q2 2018	13.39 %	9.08 %	3.36 %
Q3 2018	10.99 %	6.56 %	(0.61 %)
Q4 2018	12.82 %	9.18 %	2.38 %
Q1 2019	11.51 %	8.21 %	(0.24 %)
Q2 2019	9.07 %	3.53 %	(6.23 %)
Q3 2019	3.20 %	0.04 %	(12.05 %)

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2010	29.94	0.76	0.76	11.78
Q2 2010	29.94	1.02	1.03	11.69
Q3 2010	29.94	0.84	0.84	11.74
Q4 2010	29.94	0.56	0.56	11.64
Q1 2011	29.94	0.33	0.33	11.68
Q2 2011	29.94	0.07	0.07	11.76
Q3 2011	29.94	0.06	0.06	11.80
Q4 2011	29.94	0.11	0.11	11.75
Q1 2012	29.95	0.16	0.16	11.84
Q2 2012	29.95	0.18	0.18	11.94
Q3 2012	29.95	0.21	0.21	12.00
Q4 2012	29.95	0.20	0.20	11.94
Q1 2013	29.95	0.20	0.20	12.04
Q2 2013	29.95	0.24	0.24	12.18
Q3 2013	29.95	0.24	0.24	12.24
Q4 2013	29.95	0.36	0.36	12.30
Q1 2014	29.95	0.52	0.52	12.56
Q2 2014	29.95	0.67	0.67	12.85
Q3 2014	29.95	0.90	0.90	13.14
Q4 2014	29.95	0.69	1.01	12.99
Q1 2015	29.95	0.85	1.16	13.41
Q2 2015	29.95	0.87	1.18	13.23
Q3 2015	29.95	0.88	1.20	13.53
Q4 2015	29.95	0.98	1.37	13.48
Q1 2016	29.95	0.95	1.34	13.80
Q2 2016	29.95	1.01	1.40	13.70
Q3 2016	29.95	0.76	1.15	13.84
Q4 2016	29.95	0.73	0.73	13.69
Q1 2017	29.95	0.39	0.39	13.74
Q2 2017	29.95	(0.19)	(0.19)	13.06
Q3 2017	29.95	(0.39)	(0.39)	12.91
Q4 2017	29.95	(0.66)	(0.49)	12.56
Q1 2018	29.95	(0.73)	(0.57)	12.53
Q2 2018	29.95	(0.40)	(0.23)	12.42
Q3 2018	29.95	(0.27)	(0.10)	12.40
Q4 2018	29.95	0.15	0.15	12.45
Q1 2019	29.95	0.17	0.17	12.44
Q2 2019	29.95	(0.09)	(0.09)	12.31
Q3 2019	29.95	(1.64)	(0.30)	10.73

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2009	29.94	0.52	0.53	11.51
2010	29.94	0.56	0.56	11.64
2011	29.94	0.11	0.11	11.75
2012	29.95	0.20	0.20	11.94
2013	29.95	0.36	0.36	12.30
2014	29.95	0.69	1.01	12.99
2015	29.95	0.98	1.37	13.48
2016	29.95	0.75	0.75	13.69
2017	29.95	(0.66)	(0.49)	12.56
2018	29.95	0.15	0.15	12.45

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2010	31.06	30.79	1.99
Q2 2010	19.35	19.23	1.69
Q3 2010	24.21	24.02	1.73
Q4 2010	More than 50	More than 50	2.42
Q1 2011	More than 50	More than 50	2.26
Q2 2011	More than 50	More than 50	2.17
Q3 2011	More than 50	More than 50	2.01
Q4 2011	More than 50	More than 50	2.88
Q1 2012	More than 50	More than 50	3.34
Q2 2012	More than 50	More than 50	2.11
Q3 2012	More than 50	More than 50	2.44
Q4 2012	More than 50	More than 50	2.30
Q1 2013	More than 50	More than 50	3.05
Q2 2013	More than 50	More than 50	3.24
Q3 2013	More than 50	More than 50	2.67
Q4 2013	More than 50	More than 50	2.73
Q1 2014	More than 50	More than 50	2.83
Q2 2014	More than 50	More than 50	3.19
Q3 2014	More than 50	More than 50	4.70
Q4 2014	47.17	32.48	2.52
Q1 2015	40.85	29.86	2.59
Q2 2015	44.90	33.02	2.96
Q3 2015	32.07	23.67	2.09
Q4 2015	28.26	20.19	2.05
Q1 2016	26.57	18.83	1.83
Q2 2016	27.20	19.58	2.00
Q3 2016	25.32	16.70	1.39
Q4 2016	35.63	35.63	1.91
Q1 2017	More than 50	More than 50	1.83
Q2 2017	NEG	NEG	1.74
Q3 2017	NEG	NEG	1.87
Q4 2017	NEG	NEG	1.73
Q1 2018	NEG	NEG	1.63
Q2 2018	NEG	NEG	1.65
Q3 2018	NEG	NEG	1.60
Q4 2018	More than 50	More than 50	1.51
Q1 2019	More than 50	More than 50	1.54
Q2 2019	NEG	NEG	1.39
Q3 2019	NEG	NEG	1.54

Period	P/E	Adjusted P/E	Price/book
2009	47.94	47.34	2.16
2010	More than 50	More than 50	2.42
2011	More than 50	More than 50	2.88
2012	More than 50	More than 50	2.30
2013	More than 50	More than 50	2.73
2014	47.17	32.48	2.52
2015	28.26	20.19	2.05
2016	34.76	34.76	1.91
2017	NEG	NEG	1.73
2018	More than 50	More than 50	1.51

Business Segments (Million)

Compared With The

Period	Manufacturing sectors	engineering industries sector & metal
Q1 2011	67.95	21.67
Q2 2011	70.27	26.63
Q3 2011	59.67	23.21
Q4 2011	70.37	21.69
Q1 2012	63.98	31.37
Q2 2012	78.07	31.33
Q3 2012	80.22	27.62
Q4 2012	62.45	25.63
Q1 2013	69.05	29.81
Q2 2013	72.51	30.03
Q3 2013	65.06	22.69
Q4 2013	66.25	25.55
Q1 2014	73.92	36.84
Q2 2014	71.32	38.31
Q3 2014	70.30	23.83
Q4 2014	69.65	29.00
Q1 2015	84.21	30.56
Q2 2015	81.85	25.95
Q3 2015	73.97	21.03
Q4 2015	65.87	23.89
Q1 2016	55.05	24.06
Q2 2016	64.63	17.44
Q3 2016	37.77	12.34
Q4 2016	49.66	12.14
Q1 2017	53.22	12.67
Q2 2017	48.04	9.56
Q3 2017	59.25	8.90
Q4 2017	92.73	9.13
Q1 2018	71.81	10.22
Q2 2018	102.04	9.59
Q3 2018	90.76	10.84
Q4 2018	81.40	14.52
Q1 2019	65.04	15.66
Q2 2019	49.53	16.29
Q3 2019	40.49	17.56

Period	Manufacturing sectors	engineering industries sector & metal
2010	232.33	85.51
2011	268.26	93.21
2012	284.73	115.94
2013	272.95	108.15
2014	285.18	127.98
2015	305.90	101.43
2016	207.11	65.98
2017	253.23	40.25
2018	346.01	45.16

Financial Ratios

	Current
Market Cap (M Riyal)	573.48
Enterprise Value (EV) (M)	546.17
Shares Outstanding ((M))	35.40
EPS ( Riyal) (TTM)	(0.96)
Book Value (BV) ( Riyal)	7.82
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	Neg
P/E (TTM)	NEG
Price/book	2.07
Return on Average Assets (%) (TTM)	(8.05 )
Return on Average Equity (%) (TTM)	(11.56 )

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Maadaniyah turns to SAR 51 mln losses in 9M 2019

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Share Price

National Metal Manufacturing and Casting Co. (MAADANIYAH)

Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million)

Revenue by Business Segment (Latest) 2019 Q3

Financial Ratios

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Maadaniyah turns to SAR 51 mln losses in 9M 2019

View other reports

Share Price

National Metal Manufacturing and Casting Co. (MAADANIYAH)

Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million) Q3 2019

Revenue by Business Segment (Latest) 2019 Q3

Financial Ratios

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Business Segments (Million)