Al Yamamah Steel incurs SAR 21 mln loss in 9M 2018-19

19/08/2019 Argaam Exclusive

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Share Price

Al Yamamah Steel Industries Co. (ALYAMAMAH STEEL)

Al Yamamah Steel Industries Co. posted a net loss after zakat and tax of SAR 21.2 million for the nine-month period ending on June 30, 2019, versus a net profit of SAR 5.4 million a year earlier.

The losses were attributed to lower selling prices and higher finance charges.

Financials (M)

Item	9m 2018	9m 2019	Change‬
Revenues	694.35	692.81	(0.2 %)
Gross Income	60.97	25.87	(57.6 %)
Operating Income	17.03	(17.72)	(204.1 %)
Net Income	5.41	(21.21)	(491.8 %)
Average Shares	50.80	50.80	-
EPS (Riyals)	0.11	(0.42)	(491.8 %)

In the third quarter, the steel producer cut net losses after zakat and tax by 64.3 percent year-on-year (YoY) to SAR 2 million backed by higher sales and a decline in the cost of goods sold.

The company swung to net losses compared to a net profit of SAR 10.9 million in the previous quarter. In Q2, other operating income included SAR 14.15 million in unusable provision.

In addition, revenue and sales from the construction and electricity sectors decreased by 26 percent and 10 percent YoY, respectively amid weak demand and fierce competition.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2018	Q3 2019	Change‬
Revenues	201.38	209.84	4.2 %
Gross Income	12.04	20.01	66.2 %
Operating Income	(1.41)	5.49	488.3 %
Net Income	(5.61)	(2.00)	64.4 %
Average Shares	50.80	50.80	-
EPS (Riyals)	(0.11)	(0.04)	64.4 %

Item	Q2 2019	Q3 2019	Change‬
Revenues	284.18	209.84	(26.2 %)
Gross Income	21.68	20.01	(7.7 %)
Operating Income	6.30	5.49	(12.9 %)
Net Income	10.97	(2.00)	(118.2 %)
Average Shares	50.80	50.80	-
EPS (Riyals)	0.22	(0.04)	(118.2 %)

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
Q1 2010	-	-	-	-	-	-	-
Q2 2010	-	-	-	-	-	-	-
Q3 2010	-	-	-	-	-	-	-
Q4 2010	-	-	-	-	-	-	-
2010	-	-	-	-	-	-	-
Q1 2011	-	-	-	-	-	-	-
Q2 2011	-	-	-	-	-	-	-
Q3 2011	-	-	-	-	-	-	-
Q4 2011	-	-	-	-	-	-	-
2011	1,529.61	-	186.35	-	100.98	-	1.99
Q1 2012	-	-	-	-	-	-	-
Q2 2012	-	-	-	-	-	-	-
Q3 2012	-	-	-	-	-	-	-
Q4 2012	-	-	-	-	-	-	-
2012	1,941.82	26.9 %	176.92	(5.1 %)	70.76	(29.9 %)	1.39
Q1 2013	-	-	-	-	-	-	-
Q2 2013	-	-	-	-	-	-	-
Q3 2013	-	-	-	-	-	-	-
Q4 2013	-	-	-	-	-	-	-
2013	1,775.26	(8.6 %)	220.29	24.5 %	105.65	49.3 %	2.08
Q1 2014	-	-	-	-	-	-	-
Q2 2014	-	-	-	-	-	-	-
Q3 2014	661.67	-	82.92	-	48.47	-	0.95
Q4 2014	436.16	-	38.83	-	15.01	-	0.30
2014	2,011.74	13.3 %	245.05	11.2 %	131.93	24.9 %	2.60
Q1 2015	500.78	-	71.20	-	44.09	-	0.87
Q2 2015	650.88	-	72.99	-	41.61	-	0.82
Q3 2015	540.78	(18.3 %)	92.64	11.7 %	54.50	12.4 %	1.07
Q4 2015	327.80	(24.8 %)	45.56	17.3 %	18.54	23.5 %	0.36
2015	2,020.24	0.4 %	282.39	15.2 %	158.74	20.3 %	3.12
Q1 2016	435.46	(13.0 %)	59.61	(16.3 %)	34.82	(21.0 %)	0.69
Q2 2016	460.60	(29.2 %)	97.02	32.9 %	55.66	33.8 %	1.10
Q3 2016	471.48	(12.8 %)	124.12	34.0 %	67.88	24.6 %	1.34
Q4 2016	280.42	(14.5 %)	53.16	16.7 %	20.04	8.1 %	0.39
2016	1,648.06	(18.4 %)	335.95	19.0 %	181.51	14.3 %	3.57
Q1 2017	325.44	(25.3 %)	59.55	(0.1 %)	28.99	(16.7 %)	0.57
Q2 2017	371.99	(19.2 %)	80.81	(16.7 %)	48.15	(13.5 %)	0.95
Q3 2017	286.42	(39.3 %)	42.20	(66.0 %)	17.21	(74.6 %)	0.34
Q4 2017	265.91	(5.2 %)	47.64	(10.4 %)	18.91	(5.6 %)	0.37
2017	1,249.75	(24.2 %)	229.40	(31.7 %)	111.66	(38.5 %)	2.20
Q1 2018	252.24	(22.5 %)	23.79	(60.0 %)	6.73	(76.8 %)	0.13
Q2 2018	240.72	(35.3 %)	25.13	(68.9 %)	4.29	(91.1 %)	0.08
Q3 2018	201.38	(29.7 %)	12.04	(71.5 %)	(5.61)	(132.6 %)	(0.11)
Q4 2018	185.18	(30.4 %)	(5.15)	(110.8 %)	(26.94)	(242.4 %)	(0.53)
2018	879.53	(29.6 %)	55.82	(75.7 %)	(21.53)	(119.3 %)	(0.42)
Q1 2019	198.79	(21.2 %)	(15.82)	(166.5 %)	(30.18)	(548.6 %)	(0.59)
Q2 2019	284.18	18.1 %	21.68	(13.7 %)	10.97	155.7 %	0.22
Q3 2019	209.84	4.2 %	20.01	66.2 %	(2.00)	64.4 %	(0.04)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
2009	-	-	-	-	-	-	-
2010	-	-	-	-	-	-	-
2011	1,529.61	-	186.35	-	100.98	-	1.99
2012	1,941.82	26.9 %	176.92	(5.1 %)	70.76	(29.9 %)	1.39
2013	1,775.26	(8.6 %)	220.29	24.5 %	105.65	49.3 %	2.08
2014	2,011.74	13.3 %	245.05	11.2 %	131.93	24.9 %	2.60
2015	2,020.24	0.4 %	282.39	15.2 %	158.74	20.3 %	3.12
2016	1,648.06	(18.4 %)	335.95	19.0 %	181.51	14.3 %	3.57
2017	1,249.75	(24.2 %)	229.40	(31.7 %)	111.66	(38.5 %)	2.20
2018	879.53	(29.6 %)	55.82	(75.7 %)	(21.53)	(119.3 %)	(0.42)

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2010	-	-	-
Q2 2010	-	-	-
Q3 2010	-	-	-
Q4 2010	-	-	-
2010	-	-	-
Q1 2011	-	-	-
Q2 2011	-	-	-
Q3 2011	-	-	-
Q4 2011	-	-	-
2011	12.18 %	11.58 %	6.60 %
Q1 2012	-	-	-
Q2 2012	-	-	-
Q3 2012	-	-	-
Q4 2012	-	-	-
2012	9.11 %	7.75 %	3.64 %
Q1 2013	-	-	-
Q2 2013	-	-	-
Q3 2013	-	-	-
Q4 2013	-	-	-
2013	12.41 %	11.13 %	5.95 %
Q1 2014	-	-	-
Q2 2014	-	-	-
Q3 2014	-	-	-
Q4 2014	-	-	-
2014	12.18 %	11.03 %	6.56 %
Q1 2015	-	-	-
Q2 2015	11.82 %	11.41 %	6.63 %
Q3 2015	12.95 %	11.40 %	7.29 %
Q4 2015	13.98 %	12.36 %	7.86 %
2015	13.98 %	12.36 %	7.86 %
Q1 2016	13.85 %	12.09 %	7.65 %
Q2 2016	16.71 %	14.44 %	9.27 %
Q3 2016	19.25 %	15.88 %	11.16 %
Q4 2016	20.26 %	17.22 %	11.57 %
2016	20.38 %	17.41 %	11.76 %
Q1 2017	21.71 %	18.41 %	12.02 %
Q2 2017	21.92 %	18.77 %	12.24 %
Q3 2017	18.64 %	16.88 %	9.05 %
Q4 2017	18.42 %	15.90 %	9.06 %
2017	18.36 %	15.82 %	8.93 %
Q1 2018	16.53 %	13.88 %	7.73 %
Q2 2018	13.28 %	11.05 %	4.51 %
Q3 2018	11.31 %	8.90 %	2.53 %
Q4 2018	6.35 %	3.92 %	(2.45 %)
2018	6.35 %	3.92 %	(2.45 %)
Q1 2019	1.96 %	(0.18 %)	(7.07 %)
Q2 2019	1.47 %	(0.94 %)	(7.58 %)
Q3 2019	2.36 %	(0.09 %)	(7.10 %)

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2009	-	-	-
2010	-	-	-
2011	12.18 %	11.58 %	6.60 %
2012	9.11 %	7.75 %	3.64 %
2013	12.41 %	11.13 %	5.95 %
2014	12.18 %	11.03 %	6.56 %
2015	13.98 %	12.36 %	7.86 %
2016	20.38 %	17.41 %	11.76 %
2017	18.36 %	15.82 %	8.93 %
2018	6.35 %	3.92 %	(2.45 %)

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2010	-	-	-
Q2 2010	-	-	-
Q3 2010	-	-	-
Q4 2010	-	-	-
Q1 2011	-	-	-
Q2 2011	-	-	-
Q3 2011	-	-	-
Q4 2011	-	-	-
Q1 2012	-	-	-
Q2 2012	-	-	-
Q3 2012	-	-	-
Q4 2012	-	-	-
Q1 2013	-	-	-
Q2 2013	-	-	-
Q3 2013	-	-	-
Q4 2013	-	-	-
Q1 2014	-	-	-
Q2 2014	-	-	-
Q3 2014	12.53 %	14.52 %	7.32 %
Q4 2014	8.90 %	7.36 %	3.44 %
Q1 2015	14.22 %	13.10 %	8.80 %
Q2 2015	11.21 %	9.66 %	6.39 %
Q3 2015	17.13 %	15.19 %	10.08 %
Q4 2015	13.90 %	11.93 %	5.66 %
Q1 2016	13.69 %	12.00 %	8.00 %
Q2 2016	21.06 %	17.65 %	12.08 %
Q3 2016	26.32 %	20.49 %	17.01 %
Q4 2016	18.96 %	19.14 %	7.14 %
Q1 2017	18.30 %	15.84 %	8.91 %
Q2 2017	21.72 %	18.86 %	12.94 %
Q3 2017	14.73 %	13.26 %	6.01 %
Q4 2017	17.92 %	14.69 %	7.11 %
Q1 2018	9.43 %	6.36 %	2.67 %
Q2 2018	10.44 %	9.31 %	1.78 %
Q3 2018	5.98 %	3.95 %	(2.78 %)
Q4 2018	(2.78 %)	(6.45 %)	(14.55 %)
Q1 2019	(7.96 %)	(10.04 %)	(15.18 %)
Q2 2019	7.63 %	5.54 %	(1.12 %)
Q3 2019	9.54 %	7.35 %	(0.95 %)

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2010	-	-	-	-
Q2 2010	-	-	-	-
Q3 2010	-	-	-	-
Q4 2010	-	-	-	-
Q1 2011	-	-	-	-
Q2 2011	-	-	-	-
Q3 2011	-	-	-	-
Q4 2011	50.80	-	-	7.78
Q1 2012	-	-	-	-
Q2 2012	-	-	-	-
Q3 2012	-	-	-	-
Q4 2012	50.80	-	-	9.17
Q1 2013	-	-	-	-
Q2 2013	-	-	-	-
Q3 2013	-	-	-	-
Q4 2013	50.80	-	-	10.45
Q1 2014	-	-	-	-
Q2 2014	-	-	-	-
Q3 2014	50.80	-	-	11.44
Q4 2014	50.80	-	-	11.73
Q1 2015	50.80	-	-	11.35
Q2 2015	50.80	2.94	2.94	12.17
Q3 2015	50.80	3.06	3.06	11.99
Q4 2015	50.80	3.12	3.12	12.36
Q1 2016	50.80	2.94	2.94	11.79
Q2 2016	50.80	3.22	3.22	12.89
Q3 2016	50.80	3.48	3.72	13.07
Q4 2016	50.80	3.51	3.75	13.46
Q1 2017	50.80	3.40	3.64	12.72
Q2 2017	50.80	3.25	3.49	13.65
Q3 2017	50.80	2.25	2.25	13.03
Q4 2017	50.80	2.23	2.23	13.24
Q1 2018	50.80	1.79	1.79	13.37
Q2 2018	50.80	0.93	0.93	12.95
Q3 2018	50.80	0.48	0.48	12.84
Q4 2018	50.80	(0.42)	(0.42)	12.46
Q1 2019	50.80	(1.15)	(1.15)	11.87
Q2 2019	50.80	(1.02)	(1.30)	12.08
Q3 2019	50.80	(0.95)	(1.23)	12.04

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2009	-	-	-	-
2010	-	-	-	-
2011	50.80	1.99	1.99	7.78
2012	50.80	1.39	1.39	9.17
2013	50.80	2.08	2.08	10.45
2014	50.80	2.60	2.60	11.73
2015	50.80	3.12	3.12	12.36
2016	50.80	3.57	3.82	13.46
2017	50.80	2.20	2.20	13.24
2018	50.80	(0.42)	(0.42)	12.46

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2010	-	-	-
Q2 2010	-	-	-
Q3 2010	-	-	-
Q4 2010	-	-	-
Q1 2011	-	-	-
Q2 2011	-	-	-
Q3 2011	-	-	-
Q4 2011	-	-	-
Q1 2012	-	-	-
Q2 2012	-	-	-
Q3 2012	-	-	-
Q4 2012	-	-	-
Q1 2013	-	-	-
Q2 2013	-	-	-
Q3 2013	-	-	-
Q4 2013	-	-	-
Q1 2014	-	-	-
Q2 2014	-	-	-
Q3 2014	-	-	-
Q4 2014	-	-	-
Q1 2015	-	-	-
Q2 2015	-	-	-
Q3 2015	-	-	-
Q4 2015	-	-	-
Q1 2016	-	-	-
Q2 2016	10.77	10.77	2.69
Q3 2016	6.67	6.24	1.78
Q4 2016	8.29	7.75	2.16
Q1 2017	8.33	7.78	2.23
Q2 2017	8.16	7.60	1.94
Q3 2017	11.06	11.06	1.91
Q4 2017	11.17	11.17	1.88
Q1 2018	12.39	12.39	1.66
Q2 2018	20.67	20.67	1.48
Q3 2018	34.83	34.83	1.30
Q4 2018	NEG	NEG	1.17
Q1 2019	NEG	NEG	1.61
Q2 2019	NEG	NEG	1.42
Q3 2019	NEG	NEG	1.44

Period	P/E	Adjusted P/E	Price/book
2009	-	-	-
2010	-	-	-
2011	-	-	-
2012	-	-	-
2013	-	-	-
2014	-	-	-
2015	-	-	-
2016	8.14	7.63	2.16
2017	11.33	11.33	1.88
2018	NEG	NEG	1.17

Business Segments (Million)

Compared With The

Period	Construction sector	Electricity sector	Pipelines factory	Electric poles factory	Frames factory	Electric power towers factory	Al Yamamah for reinforcing steel bars
Q4 2014	-	-	111.76	50.40	5.45	51.53	217.02
Q1 2015	-	-	115.90	43.21	4.62	61.62	275.43
Q2 2015	-	-	125.10	62.12	5.12	62.00	396.53
Q3 2015	-	-	122.92	54.58	5.79	50.75	306.75
Q4 2015	-	-	84.92	45.57	4.78	50.14	142.39
Q1 2016	-	-	103.42	51.43	3.50	54.36	222.75
Q2 2016	-	-	99.83	47.47	1.79	47.78	263.74
Q3 2016	391.22	80.36	-	-	-	-	-
Q4 2016	238.23	42.18	-	-	-	-	-
Q1 2017	278.88	46.55	-	-	-	-	-
Q2 2017	304.43	67.56	-	-	-	-	-
Q3 2017	245.49	40.93	-	-	-	-	-
Q4 2017	236.12	29.79	-	-	-	-	-
Q1 2018	211.85	40.40	-	-	-	-	-
Q2 2018	209.10	31.62	-	-	-	-	-
Q3 2018	175.20	26.18	-	-	-	-	-
Q4 2018	153.20	31.99	-	-	-	-	-
Q1 2019	172.07	26.71	-	-	-	-	-
Q2 2019	225.52	58.66	-	-	-	-	-
Q3 2019	157.14	52.70	-	-	-	-	-

Period	Construction sector	Electricity sector	Pipelines factory	Electric poles factory	Frames factory	Electric power towers factory	Al Yamamah for reinforcing steel bars
2012	-	-	480.32	125.53	17.51	58.49	1,259.97
2013	-	-	458.25	140.89	13.56	127.88	1,034.69
2014	-	-	489.94	187.07	20.67	192.59	1,121.47
2015	-	-	448.84	205.48	20.31	224.51	1,121.10
2016	1,324.49	323.57	-	-	-	-	-
2017	1,064.92	184.83	-	-	-	-	-
2018	749.34	130.18	-	-	-	-	-

Financial Ratios

	Current
Market Cap (M Riyal)	1,783.08
Enterprise Value (EV) (M)	2,712.50
Shares Outstanding ((M))	50.80
EPS ( Riyal) (TTM)	(0.20)
Book Value (BV) ( Riyal)	11.38
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	Neg
P/E (TTM)	NEG
Price/book	3.08
Return on Average Assets (%) (TTM)	(0.55 )
Return on Average Equity (%) (TTM)	(1.76 )

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Al Yamamah Steel incurs SAR 21 mln loss in 9M 2018-19

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Share Price

Al Yamamah Steel Industries Co. (ALYAMAMAH STEEL)

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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Al Yamamah Steel incurs SAR 21 mln loss in 9M 2018-19

View other reports

Share Price

Al Yamamah Steel Industries Co. (ALYAMAMAH STEEL)

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)