SAIC’s net profit rises 21% in FY 2018 on higher revenue

12/03/2019 Argaam Exclusive

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Share Price

Saudi Advanced Industries Co.
44.90
(0.15) (0.33 %)

Saudi Advanced Industries Co. (SAIC)

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Saudi Advanced Industries Co. (SAIC) reported a net profit after zakat and tax of SAR 37 million for fiscal year 2018, a rise of 21 percent year-on-year (YoY), driven by improved revenue and profit share from associates, as well as low financing charges.



Financials (M)

Item 2017 2018 Change‬
Revenues 34.62 44.54 28.7 %
Gross Income 34.62 44.54 28.7 %
Operating Income 28.04 37.93 35.3 %
Net Income 30.58 36.93 20.7 %
Average Shares 60.00 60.00 -
EPS (Riyals) 0.51 0.62 20.7 %


Current Quarter Comparison (M)

Compared With The
Item Q4 2017 Q4 2018 Change‬
Revenues 10.20 10.45 2.5 %
Gross Income 10.20 10.45 2.5 %
Operating Income 7.33 7.49 2.1 %
Net Income 9.81 7.13 (27.3 %)
Average Shares 60.00 60.00 -
EPS (Riyals) 0.16 0.12 (27.3 %)


Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Riyal)
Q1 2009 6.58 29.8 % 6.58 29.8 % 6.19 40.7 % 0.10
Q2 2009 13.17 40.4 % 13.17 40.4 % 11.97 37.5 % 0.20
Q3 2009 11.47 80.4 % 11.47 80.4 % 10.46 138.5 % 0.17
Q4 2009 7.70 63.2 % 7.70 63.2 % 6.17 184.5 % 0.10
Q1 2010 3.62 (45.0 %) 3.62 (45.0 %) 2.60 (58.0 %) 0.04
Q2 2010 7.55 (42.7 %) 7.55 (42.7 %) 6.44 (46.2 %) 0.11
Q3 2010 2.36 (79.4 %) 2.36 (79.4 %) 1.74 (83.4 %) 0.03
Q4 2010 (0.23) (103.0 %) (0.23) (103.0 %) (0.84) (113.7 %) (0.01)
Q1 2011 1.12 (69.2 %) 1.12 (69.2 %) 0.17 (93.3 %) 0.00
Q2 2011 1.42 (81.2 %) 1.42 (81.2 %) 4.19 (34.9 %) 0.07
Q3 2011 (2.76) (216.8 %) (2.76) (216.8 %) (0.27) (115.7 %) 0.00
Q4 2011 8.81 3897.4 % 8.81 3897.4 % 5.70 776.3 % 0.10
Q1 2012 (1.55) (239.2 %) (1.55) (239.2 %) (3.20) (1952.0 %) (0.05)
Q2 2012 (2.96) (309.4 %) (2.96) (309.4 %) (26.17) (724.6 %) (0.44)
Q3 2012 (0.62) 77.4 % (0.62) 77.4 % (4.34) (1,488.3 %) (0.07)
Q4 2012 (33.24) (477.3 %) (33.24) (477.3 %) (28.39) (598.1 %) (0.47)
Q1 2013 4.83 411.3 % 4.83 411.3 % 3.24 201.1 % 0.05
Q2 2013 9.84 432.0 % 9.84 432.0 % 8.72 133.3 % 0.15
Q3 2013 9.50 1624.2 % 9.50 1624.2 % 8.52 296.5 % 0.14
Q4 2013 6.64 120.0 % 6.64 120.0 % 4.58 116.1 % 0.08
Q1 2014 8.03 66.2 % 8.03 66.2 % 6.01 85.7 % 0.10
Q2 2014 4.64 (52.9 %) 4.64 (52.9 %) (6.91) (179.3 %) (0.12)
Q3 2014 8.48 (10.7 %) 8.48 (10.7 %) 13.81 62.1 % 0.23
Q4 2014 6.16 (7.2 %) 6.16 (7.2 %) 2.32 (49.4 %) 0.04
Q1 2015 9.04 12.5 % 9.04 12.5 % 7.51 24.9 % 0.13
Q2 2015 8.15 75.7 % 8.15 75.7 % 7.26 205.0 % 0.12
Q3 2015 2.38 (71.9 %) 2.38 (71.9 %) 1.61 (88.3 %) 0.03
Q4 2015 (0.45) (107.3 %) (0.45) (107.3 %) (15.20) (756.2 %) (0.25)
Q1 2016 (1.93) (121.4 %) (1.93) (121.4 %) (3.75) (149.9 %) (0.06)
Q2 2016 11.74 44.1 % 11.74 44.1 % 9.96 37.2 % 0.17
Q3 2016 4.29 80.1 % 4.29 80.1 % 2.52 55.9 % 0.04
Q4 2016 4.58 1123.9 % 4.58 1123.9 % 2.15 114.1 % 0.04
Q1 2017 4.42 328.7 % 4.42 328.7 % 3.40 190.6 % 0.06
Q2 2017 8.35 (28.9 %) 8.35 (28.9 %) 7.56 (24.1 %) 0.13
Q3 2017 11.65 171.8 % 11.65 171.8 % 9.82 290.5 % 0.16
Q4 2017 10.20 122.8 % 10.20 122.8 % 9.81 356.4 % 0.16
Q1 2018 5.48 24.0 % 5.48 24.0 % 4.16 22.5 % 0.07
Q2 2018 15.71 88.3 % 15.71 88.3 % 14.10 86.5 % 0.23
Q3 2018 12.89 10.6 % 12.89 10.6 % 11.54 17.5 % 0.19
Q4 2018 10.45 2.5 % 10.45 2.5 % 7.13 (27.3 %) 0.12
2018 44.54 28.7 % 44.54 28.7 % 36.93 20.7 % 0.62

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2009 100.00 % 84.43 % 79.31 %
Q2 2009 100.00 % 85.71 % 80.15 %
Q3 2009 100.00 % 89.69 % 85.64 %
Q4 2009 100.00 % 90.68 % 89.36 %
Q1 2010 100.00 % 89.79 % 86.74 %
Q2 2010 100.00 % 87.99 % 84.58 %
Q3 2010 100.00 % 83.65 % 79.81 %
Q4 2010 100.00 % 79.50 % 74.69 %
Q1 2011 100.00 % 75.76 % 69.52 %
Q2 2011 100.00 % 50.28 % 112.84 %
Q3 2011 100.00 % 593.44 % (710.50 %)
Q4 2011 100.00 % 51.93 % 114.05 %
Q1 2012 100.00 % 26.99 % 108.42 %
Q2 2012 100.00 % (204.03 %) (1556.96 %)
Q3 2012 100.00 % (23.51 %) (762.98 %)
Q4 2012 100.00 % 110.75 % 161.82 %
Q1 2013 100.00 % 112.79 % 173.99 %
Q2 2013 100.00 % 120.18 % 108.24 %
Q3 2013 100.00 % 146.97 % 87.28 %
Q4 2013 100.00 % 85.81 % 81.34 %
Q1 2014 100.00 % 86.84 % 84.08 %
Q2 2014 100.00 % 83.32 % 79.63 %
Q3 2014 100.00 % 82.14 % 104.30 %
Q4 2014 100.00 % 78.73 % 100.61 %
Q1 2015 100.00 % 78.51 % 99.65 %
Q2 2015 100.00 % 80.26 % 101.84 %
Q3 2015 100.00 % 74.64 % 75.64 %
Q4 2015 100.00 % 68.14 % 63.72 %
Q1 2016 100.00 % 26.22 % 11.28 %
Q2 2016 100.00 % 49.67 % 30.82 %
Q3 2016 100.00 % 56.63 % 33.12 %
Q4 2016 100.00 % 68.37 % 58.23 %
Q1 2017 100.00 % 76.76 % 72.00 %
Q2 2017 100.00 % 73.06 % 72.22 %
Q3 2017 100.00 % 79.67 % 79.07 %
Q4 2017 100.00 % 81.19 % 88.35 %
Q1 2018 100.00 % 82.01 % 87.86 %
Q2 2018 100.00 % 84.58 % 88.01 %
Q3 2018 100.00 % 85.48 % 89.43 %
Q4 2018 100.00 % 85.38 % 82.90 %
2018 100.00 % 85.38 % 82.91 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2009 60.00 0.36 0.36 12.04
Q2 2009 60.00 0.41 0.41 12.29
Q3 2009 60.00 0.51 0.51 12.81
Q4 2009 60.00 0.58 0.58 12.93
Q1 2010 60.00 0.52 0.52 13.27
Q2 2010 60.00 0.43 0.43 13.34
Q3 2010 60.00 0.28 0.28 13.39
Q4 2010 60.00 0.17 0.17 13.87
Q1 2011 60.00 0.13 0.13 13.91
Q2 2011 60.00 0.09 0.09 13.93
Q3 2011 60.00 0.05 0.05 13.81
Q4 2011 60.00 0.16 0.16 13.74
Q1 2012 60.00 0.11 0.11 14.12
Q2 2012 60.00 (0.40) (0.40) 13.25
Q3 2012 60.00 (0.47) (0.47) 13.22
Q4 2012 60.00 (1.04) (1.04) 12.89
Q1 2013 60.00 (0.93) (0.93) 13.24
Q2 2013 60.00 (0.35) (0.35) 13.53
Q3 2013 60.00 (0.13) (0.13) 14.04
Q4 2013 60.00 0.42 0.42 14.75
Q1 2014 60.00 0.46 0.48 14.68
Q2 2014 60.00 0.20 0.38 14.58
Q3 2014 60.00 0.29 0.48 14.86
Q4 2014 60.00 0.25 0.46 13.08
Q1 2015 60.00 0.28 0.47 12.92
Q2 2015 60.00 0.51 0.54 13.53
Q3 2015 60.00 0.31 0.32 12.65
Q4 2015 60.00 0.02 0.20 11.62
Q1 2016 60.00 (0.17) 0.02 11.87
Q2 2016 60.00 (0.12) 0.06 12.25
Q3 2016 60.00 (0.11) 0.08 12.22
Q4 2016 60.00 0.18 0.18 12.59
Q1 2017 60.00 0.30 0.30 12.74
Q2 2017 60.00 0.26 0.26 12.74
Q3 2017 60.00 0.38 0.38 12.81
Q4 2017 60.00 0.51 0.51 12.87
Q1 2018 60.00 0.52 0.52 13.64
Q2 2018 60.00 0.63 0.63 13.94
Q3 2018 60.00 0.66 0.66 13.89
Q4 2018 60.00 0.62 0.62 13.12

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2009 21.68 21.68 0.64
Q2 2009 22.93 22.93 0.77
Q3 2009 19.88 19.88 0.80
Q4 2009 17.41 17.41 0.78
Q1 2010 19.12 19.12 0.75
Q2 2010 20.30 20.30 0.65
Q3 2010 32.41 32.41 0.68
Q4 2010 More than 50 More than 50 0.71
Q1 2011 More than 50 More than 50 0.73
Q2 2011 More than 50 More than 50 0.77
Q3 2011 More than 50 More than 50 0.69
Q4 2011 More than 50 More than 50 0.80
Q1 2012 More than 50 More than 50 1.12
Q2 2012 NEG NEG 0.86
Q3 2012 NEG NEG 1.01
Q4 2012 NEG NEG 0.86
Q1 2013 NEG NEG 0.85
Q2 2013 NEG NEG 0.82
Q3 2013 NEG NEG 0.85
Q4 2013 31.92 31.92 0.90
Q1 2014 34.09 33.19 1.08
Q2 2014 More than 50 49.40 1.30
Q3 2014 More than 50 41.17 1.34
Q4 2014 More than 50 30.20 1.06
Q1 2015 More than 50 32.47 1.18
Q2 2015 29.51 28.13 1.12
Q3 2015 35.37 34.00 0.87
Q4 2015 More than 50 More than 50 0.98
Q1 2016 NEG More than 50 0.72
Q2 2016 NEG More than 50 0.74
Q3 2016 NEG More than 50 0.55
Q4 2016 More than 50 More than 50 0.80
Q1 2017 37.63 37.63 0.89
Q2 2017 38.35 38.35 0.78
Q3 2017 28.53 28.53 0.85
Q4 2017 22.52 22.52 0.89
Q1 2018 21.63 21.63 0.83
Q2 2018 17.73 17.73 0.80
Q3 2018 15.62 15.62 0.74
Q4 2018 17.54 17.54 0.82

Business Segments (Million)

Compared With The
Period Services and Invesments sector Glass industry Petrochemical sector Petroleum and Energy Services sector Others..
Q3 2009 - - - 9.85 1.62
Q4 2009 - (2.98) - 10.33 (0.34)
Q1 2010 - - - 2.00 1.62
Q2 2010 - - - 7.55 -
Q3 2010 - - - 2.36 -
Q4 2010 - (3.25) - 3.43 (0.04)
Q1 2011 - (0.65) - 1.76 -
Q2 2011 - (1.96) - 7.01 -
Q3 2011 - (2.76) - 3.39 -
Q4 2011 - (2.82) - (0.54) -
Q1 2012 - (2.43) - 0.87 -
Q2 2012 - (3.87) - (13.63) (1.59)
Q3 2012 - (3.86) - - 3.24
Q4 2012 - (2.96) - (14.14) -
Q1 2013 - (3.19) - 3.22 4.80
Q2 2013 - 0.45 - 9.39 0.04
Q3 2013 - 0.59 3.27 6.25 (0.61)
Q4 2013 - 2.75 - 3.88 -
Q1 2014 - 1.49 6.54 - 0.01
Q2 2014 - 0.60 - - 4.52
Q3 2014 - 1.94 4.90 - 9.84
Q4 2014 - 1.53 - - 4.89
Q1 2015 3.25 - 4.90 - 0.95
Q2 2015 2.60 0.39 3.27 1.62 0.85
Q3 2015 4.93 - - - -
Q4 2015 2.23 - - - -
Q1 2016 - - 3.27 - 0.01
Q2 2016 4.58 - 4.90 3.24 -
Q3 2016 2.73 - - - 0.04
Q4 2016 3.15 1.09 - - 0.09
Q1 2017 3.09 - 4.90 - 0.79
Q2 2017 5.28 - - - 0.03
Q3 2017 3.02 - 4.90 5.06 -
Q4 2017 3.31 5.80 - - 0.03
Q1 2018 3.07 2.41 - - 0.03
Q2 2018 3.21 1.98 - - -
Q3 2018 2.86 4.31 5.72 - -
Q4 2018 3.81 6.64 - - -


Financial Ratios
Current
Market Cap (M Riyal) 2,694.00
Enterprise Value (EV) (M) 2,459.23
Shares Outstanding ((M)) 60.00
EPS ( Riyal) (TTM) 3.90
Book Value (BV) ( Riyal) 18.40
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 11.33
P/E (TTM) 11.52
Price/book 2.44
Return on Average Assets (%) (TTM) 22.7
Return on Average Equity (%) (TTM) 23.1
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