Najran Cement Co. reported a net profit of SAR 124.7 million for the fiscal year 2016, a year-on-year (YoY) fall of 51 percent, on lower sales volumes due to slowdown in construction activities coupled with higher energy and fuel prices.
Meanwhile, selling and distribution expenses decreased along with zakat provision.
| Item | 2015 | 2016 | Change |
|---|---|---|---|
| Revenues | 1,086.65 | 631.20 | (41.9 %) |
| Gross Income | 521.60 | 205.39 | (60.6 %) |
| Operating Income | 309.27 | 160.11 | (48.2 %) |
| Net Income | 255.62 | 125.74 | (50.8 %) |
| Average Shares | 170.00 | 170.00 | - |
| EPS (Riyals) | 1.50 | 0.74 | (50.8 %) |
The fourth-quarter net profit slumped 73 percent YoY to SAR 14.8 million, on the back of lower sales and higher financing charges. On a sequential quarter basis, the profit was 4 percent lower.
| Item | Q4 2015 | Q4 2016 | Change |
|---|---|---|---|
| Revenues | 276.35 | 124.84 | (54.8 %) |
| Gross Income | 119.42 | 32.71 | (72.6 %) |
| Operating Income | 67.73 | 21.95 | (67.6 %) |
| Net Income | 53.73 | 14.91 | (72.2 %) |
| Average Shares | 170.00 | 170.00 | - |
| EPS (Riyals) | 0.32 | 0.09 | (72.2 %) |
| Item | Q3 2016 | Q4 2016 | Change |
|---|---|---|---|
| Revenues | 119.69 | 124.84 | 4.3 % |
| Gross Income | 29.62 | 32.71 | 10.4 % |
| Operating Income | 20.94 | 21.95 | 4.8 % |
| Net Income | 15.62 | 14.91 | (4.5 %) |
| Average Shares | 170.00 | 170.00 | - |
| EPS (Riyals) | 0.09 | 0.09 | (4.5 %) |
| Period | Revenues | Change | Gross Income | Change | Net Income | Change | EPS(Riyal) |
|---|---|---|---|---|---|---|---|
| Q1 2007 | - | - | - | - | - | - | - |
| Q2 2007 | - | - | - | - | - | - | - |
| Q3 2007 | - | - | - | - | - | - | - |
| Q4 2007 | - | - | - | - | - | - | - |
| 2007 | - | - | - | - | - | - | - |
| Q1 2008 | - | - | - | - | - | - | - |
| Q2 2008 | - | - | - | - | - | - | - |
| Q3 2008 | - | - | - | - | - | - | - |
| Q4 2008 | - | - | - | - | - | - | - |
| 2008 | 198.77 | - | 113.33 | - | (52.26) | - | (0.43) |
| Q1 2009 | - | - | - | - | - | - | - |
| Q2 2009 | - | - | - | - | - | - | - |
| Q3 2009 | - | - | - | - | - | - | - |
| Q4 2009 | - | - | - | - | - | - | - |
| 2009 | 373.23 | 87.8 % | 177.81 | 56.9 % | 152.07 | 391.0 % | 1.25 |
| Q1 2010 | - | - | - | - | - | - | - |
| Q2 2010 | - | - | - | - | - | - | - |
| Q3 2010 | - | - | - | - | - | - | - |
| Q4 2010 | - | - | - | - | - | - | - |
| 2010 | 637.43 | 70.8 % | 300.73 | 69.1 % | 241.72 | 59.0 % | 1.98 |
| Q1 2011 | 179.94 | - | 82.21 | - | 68.24 | - | 0.56 |
| Q2 2011 | 201.95 | - | 97.05 | - | 78.11 | - | 0.64 |
| Q3 2011 | 159.26 | - | 93.29 | - | 83.32 | - | 0.68 |
| Q4 2011 | 156.46 | - | 20.75 | - | 4.96 | - | 0.04 |
| 2011 | 697.45 | 9.4 % | 296.41 | (1.4 %) | 234.63 | (2.9 %) | 1.92 |
| Q1 2012 | 187.09 | 4.0 % | 93.81 | 14.1 % | 80.62 | 18.1 % | 0.66 |
| Q2 2012 | 154.08 | (23.7 %) | 63.67 | (34.4 %) | 26.58 | (66.0 %) | 0.16 |
| Q3 2012 | 113.46 | (28.8 %) | 52.30 | (43.9 %) | 36.20 | (56.6 %) | 0.21 |
| Q4 2012 | 158.72 | 1.4 % | 67.71 | 226.3 % | 58.83 | 1087.0 % | 0.35 |
| 2012 | 613.35 | (12.1 %) | 277.48 | (6.4 %) | 202.24 | (13.8 %) | 1.19 |
| Q1 2013 | 216.62 | 15.8 % | 102.86 | 9.7 % | 87.54 | 8.6 % | 0.51 |
| Q2 2013 | 176.83 | 14.8 % | 81.97 | 28.7 % | 63.66 | 139.5 % | 0.37 |
| Q3 2013 | 111.83 | (1.4 %) | 36.63 | (30.0 %) | 26.56 | (26.6 %) | 0.16 |
| Q4 2013 | 126.36 | (20.4 %) | 37.75 | (44.2 %) | 20.38 | (65.4 %) | 0.12 |
| 2013 | 631.64 | 3.0 % | 259.22 | (6.6 %) | 198.14 | (2.0 %) | 1.17 |
| Q1 2014 | 168.68 | (22.1 %) | 75.07 | (27.0 %) | 53.69 | (38.7 %) | 0.32 |
| Q2 2014 | 233.02 | 31.8 % | 119.64 | 46.0 % | 84.39 | 32.6 % | 0.50 |
| Q3 2014 | 173.59 | 55.2 % | 80.01 | 118.4 % | 41.16 | 55.0 % | 0.24 |
| Q4 2014 | 252.60 | 99.9 % | 124.14 | 228.8 % | 63.96 | 213.8 % | 0.38 |
| 2014 | 827.89 | 31.1 % | 398.86 | 53.9 % | 243.20 | 22.7 % | 1.43 |
| Q1 2015 | 304.23 | 80.4 % | 159.97 | 113.1 % | 92.00 | 71.3 % | 0.54 |
| Q2 2015 | 294.19 | 26.2 % | 151.06 | 26.3 % | 77.83 | (7.8 %) | 0.46 |
| Q3 2015 | 211.89 | 22.1 % | 91.15 | 13.9 % | 32.07 | (22.1 %) | 0.19 |
| Q4 2015 | 276.35 | 9.4 % | 119.42 | (3.8 %) | 53.73 | (16.0 %) | 0.32 |
| 2015 | 1,086.65 | 31.3 % | 521.60 | 30.8 % | 255.62 | 5.1 % | 1.50 |
| Q1 2016 | 224.43 | (26.2 %) | 84.99 | (46.9 %) | 61.34 | (33.3 %) | 0.36 |
| Q2 2016 | 162.24 | (44.9 %) | 58.07 | (61.6 %) | 33.87 | (56.5 %) | 0.20 |
| Q3 2016 | 119.69 | (43.5 %) | 29.62 | (67.5 %) | 15.62 | (51.3 %) | 0.09 |
| Q4 2016 | 124.84 | (54.8 %) | 32.71 | (72.6 %) | 14.91 | (72.2 %) | 0.09 |
| 2016 | 631.20 | (41.9 %) | 205.39 | (60.6 %) | 125.74 | (50.8 %) | 0.74 |
| Period | Revenues | Change | Gross Income | Change | Net Income | Change | EPS(Riyal) |
|---|---|---|---|---|---|---|---|
| 2007 | - | - | - | - | - | - | - |
| 2008 | 198.77 | - | 113.33 | - | (52.26) | - | (0.43) |
| 2009 | 373.23 | 87.8 % | 177.81 | 56.9 % | 152.07 | 391.0 % | 1.25 |
| 2010 | 637.43 | 70.8 % | 300.73 | 69.1 % | 241.72 | 59.0 % | 1.98 |
| 2011 | 697.45 | 9.4 % | 296.41 | (1.4 %) | 234.63 | (2.9 %) | 1.92 |
| 2012 | 613.35 | (12.1 %) | 277.48 | (6.4 %) | 202.24 | (13.8 %) | 1.19 |
| 2013 | 631.64 | 3.0 % | 259.22 | (6.6 %) | 198.14 | (2.0 %) | 1.17 |
| 2014 | 827.89 | 31.1 % | 398.86 | 53.9 % | 243.20 | 22.7 % | 1.43 |
| 2015 | 1,086.65 | 31.3 % | 521.60 | 30.8 % | 255.62 | 5.1 % | 1.50 |
| 2016 | 631.20 | (41.9 %) | 205.39 | (60.6 %) | 125.74 | (50.8 %) | 0.74 |
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| Q1 2007 | - | - | - |
| Q2 2007 | - | - | - |
| Q3 2007 | - | - | - |
| Q4 2007 | - | - | - |
| 2007 | - | - | - |
| Q1 2008 | - | - | - |
| Q2 2008 | - | - | - |
| Q3 2008 | - | - | - |
| Q4 2008 | - | - | - |
| 2008 | 57.01 % | 60.84 % | (26.29 %) |
| Q1 2009 | - | - | - |
| Q2 2009 | - | - | - |
| Q3 2009 | - | - | - |
| Q4 2009 | - | - | - |
| 2009 | 47.64 % | 62.90 % | 40.74 % |
| Q1 2010 | - | - | - |
| Q2 2010 | - | - | - |
| Q3 2010 | - | - | - |
| Q4 2010 | - | - | - |
| 2010 | 47.18 % | 55.27 % | 38.53 % |
| Q1 2011 | - | - | - |
| Q2 2011 | - | - | - |
| Q3 2011 | - | - | - |
| Q4 2011 | 42.04 % | 49.27 % | 33.80 % |
| 2011 | 42.50 % | 49.59 % | 33.64 % |
| Q1 2012 | 43.26 % | 50.20 % | 35.21 % |
| Q2 2012 | 41.33 % | 48.64 % | 29.76 % |
| Q3 2012 | 37.72 % | 45.27 % | 24.28 % |
| Q4 2012 | 45.24 % | 54.04 % | 32.97 % |
| 2012 | 45.24 % | 53.96 % | 32.97 % |
| Q1 2013 | 44.57 % | 52.88 % | 32.53 % |
| Q2 2013 | 45.80 % | 54.13 % | 36.99 % |
| Q3 2013 | 43.55 % | 51.59 % | 35.63 % |
| Q4 2013 | 41.04 % | 50.23 % | 31.37 % |
| 2013 | 41.04 % | 50.18 % | 31.37 % |
| Q1 2014 | 39.65 % | 50.02 % | 28.15 % |
| Q2 2014 | 42.05 % | 50.08 % | 28.91 % |
| Q3 2014 | 44.53 % | 50.30 % | 28.45 % |
| Q4 2014 | 48.18 % | 48.71 % | 29.38 % |
| 2014 | 48.18 % | 48.67 % | 29.38 % |
| Q1 2015 | 50.21 % | 46.69 % | 29.22 % |
| Q2 2015 | 50.28 % | 44.06 % | 26.83 % |
| Q3 2015 | 49.52 % | 42.01 % | 25.01 % |
| Q4 2015 | 48.00 % | 40.30 % | 23.52 % |
| 2015 | 48.00 % | 40.30 % | 23.52 % |
| Q1 2016 | 44.36 % | 40.03 % | 22.34 % |
| Q2 2016 | 40.42 % | 40.10 % | 20.69 % |
| Q3 2016 | 37.32 % | 41.46 % | 21.02 % |
| Q4 2016 | 32.54 % | 44.00 % | 19.92 % |
| 2016 | 32.54 % | 44.00 % | 19.92 % |
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| 2007 | - | - | - |
| 2008 | 57.01 % | 60.84 % | (26.29 %) |
| 2009 | 47.64 % | 62.90 % | 40.74 % |
| 2010 | 47.18 % | 55.27 % | 38.53 % |
| 2011 | 42.50 % | 49.59 % | 33.64 % |
| 2012 | 45.24 % | 53.96 % | 32.97 % |
| 2013 | 41.04 % | 50.18 % | 31.37 % |
| 2014 | 48.18 % | 48.67 % | 29.38 % |
| 2015 | 48.00 % | 40.30 % | 23.52 % |
| 2016 | 32.54 % | 44.00 % | 19.92 % |
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| Q1 2007 | - | - | - |
| Q2 2007 | - | - | - |
| Q3 2007 | - | - | - |
| Q4 2007 | - | - | - |
| Q1 2008 | - | - | - |
| Q2 2008 | - | - | - |
| Q3 2008 | - | - | - |
| Q4 2008 | - | - | - |
| Q1 2009 | - | - | - |
| Q2 2009 | - | - | - |
| Q3 2009 | - | - | - |
| Q4 2009 | - | - | - |
| Q1 2010 | - | - | - |
| Q2 2010 | - | - | - |
| Q3 2010 | - | - | - |
| Q4 2010 | - | - | - |
| Q1 2011 | 45.69 % | 53.51 % | 37.92 % |
| Q2 2011 | 48.06 % | 54.45 % | 39.26 % |
| Q3 2011 | 58.58 % | 68.92 % | 52.32 % |
| Q4 2011 | 13.26 % | 17.73 % | 3.17 % |
| Q1 2012 | 50.14 % | 56.83 % | 43.09 % |
| Q2 2012 | 41.32 % | 49.13 % | 17.25 % |
| Q3 2012 | 46.09 % | 58.96 % | 31.91 % |
| Q4 2012 | 42.66 % | 52.00 % | 37.07 % |
| Q1 2013 | 47.49 % | 53.00 % | 40.41 % |
| Q2 2013 | 46.35 % | 54.32 % | 36.00 % |
| Q3 2013 | 32.76 % | 43.98 % | 23.75 % |
| Q4 2013 | 29.88 % | 45.28 % | 16.13 % |
| Q1 2014 | 44.50 % | 53.07 % | 31.83 % |
| Q2 2014 | 51.34 % | 53.45 % | 36.21 % |
| Q3 2014 | 46.09 % | 47.03 % | 23.71 % |
| Q4 2014 | 49.15 % | 42.57 % | 25.32 % |
| Q1 2015 | 52.58 % | 44.74 % | 30.24 % |
| Q2 2015 | 51.35 % | 42.89 % | 26.46 % |
| Q3 2015 | 43.02 % | 36.20 % | 15.14 % |
| Q4 2015 | 43.21 % | 35.79 % | 19.44 % |
| Q1 2016 | 37.87 % | 45.11 % | 27.33 % |
| Q2 2016 | 35.80 % | 45.59 % | 20.87 % |
| Q3 2016 | 24.75 % | 42.07 % | 13.05 % |
| Q4 2016 | 26.20 % | 41.77 % | 11.95 % |
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| Q1 2007 | - | - | - | - |
| Q2 2007 | - | - | - | - |
| Q3 2007 | - | - | - | - |
| Q4 2007 | - | - | - | - |
| Q1 2008 | - | - | - | - |
| Q2 2008 | - | - | - | - |
| Q3 2008 | - | - | - | - |
| Q4 2008 | - | - | - | - |
| Q1 2009 | - | - | - | - |
| Q2 2009 | - | - | - | - |
| Q3 2009 | - | - | - | - |
| Q4 2009 | - | - | - | - |
| Q1 2010 | - | - | - | - |
| Q2 2010 | - | - | - | - |
| Q3 2010 | - | - | - | - |
| Q4 2010 | - | - | - | - |
| Q1 2011 | 121.90 | - | - | 10.38 |
| Q2 2011 | 121.90 | - | - | 10.52 |
| Q3 2011 | 121.90 | - | - | 10.62 |
| Q4 2011 | 121.90 | 1.92 | 1.93 | 10.03 |
| Q1 2012 | 121.90 | 2.03 | 2.04 | 10.70 |
| Q2 2012 | 170.00 | 1.15 | 1.15 | 10.65 |
| Q3 2012 | 170.00 | 0.87 | 0.87 | 10.37 |
| Q4 2012 | 170.00 | 1.19 | 1.19 | 10.71 |
| Q1 2013 | 170.00 | 1.23 | 1.23 | 10.67 |
| Q2 2013 | 170.00 | 1.45 | 1.45 | 11.05 |
| Q3 2013 | 170.00 | 1.39 | 1.39 | 10.60 |
| Q4 2013 | 170.00 | 1.17 | 1.17 | 10.71 |
| Q1 2014 | 170.00 | 0.97 | 0.97 | 11.02 |
| Q2 2014 | 170.00 | 1.09 | 1.09 | 11.52 |
| Q3 2014 | 170.00 | 1.17 | 1.17 | 11.76 |
| Q4 2014 | 170.00 | 1.43 | 1.43 | 12.13 |
| Q1 2015 | 170.00 | 1.66 | 1.66 | 12.07 |
| Q2 2015 | 170.00 | 1.62 | 1.62 | 12.53 |
| Q3 2015 | 170.00 | 1.56 | 1.56 | 12.22 |
| Q4 2015 | 170.00 | 1.50 | 1.50 | 12.52 |
| Q1 2016 | 170.00 | 1.32 | 1.32 | 12.35 |
| Q2 2016 | 170.00 | 1.06 | 1.06 | 11.95 |
| Q3 2016 | 170.00 | 0.97 | 0.97 | 12.04 |
| Q4 2016 | 170.00 | 0.74 | 0.74 | 12.10 |
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| 2007 | - | - | - | - |
| 2008 | 121.90 | (0.43) | (0.43) | 9.55 |
| 2009 | 121.90 | 1.25 | 1.25 | 10.79 |
| 2010 | 121.90 | 1.98 | 2.01 | 10.65 |
| 2011 | 121.90 | 1.92 | 1.92 | 10.03 |
| 2012 | 170.00 | 1.19 | 1.19 | 10.71 |
| 2013 | 170.00 | 1.17 | 1.17 | 10.71 |
| 2014 | 170.00 | 1.43 | 1.43 | 12.13 |
| 2015 | 170.00 | 1.50 | 1.50 | 12.52 |
| 2016 | 170.00 | 0.74 | 0.74 | 12.10 |
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| Q1 2007 | - | - | - |
| Q2 2007 | - | - | - |
| Q3 2007 | - | - | - |
| Q4 2007 | - | - | - |
| Q1 2008 | - | - | - |
| Q2 2008 | - | - | - |
| Q3 2008 | - | - | - |
| Q4 2008 | - | - | - |
| Q1 2009 | - | - | - |
| Q2 2009 | - | - | - |
| Q3 2009 | - | - | - |
| Q4 2009 | - | - | - |
| Q1 2010 | - | - | - |
| Q2 2010 | - | - | - |
| Q3 2010 | - | - | - |
| Q4 2010 | - | - | - |
| Q1 2011 | - | - | - |
| Q2 2011 | - | - | - |
| Q3 2011 | - | - | - |
| Q4 2011 | - | - | - |
| Q1 2012 | - | - | - |
| Q2 2012 | 18.87 | 18.87 | 2.04 |
| Q3 2012 | 23.89 | 23.89 | 2.01 |
| Q4 2012 | 15.89 | 15.89 | 1.77 |
| Q1 2013 | 18.57 | 18.57 | 2.14 |
| Q2 2013 | 18.57 | 18.57 | 2.44 |
| Q3 2013 | 18.97 | 18.97 | 2.49 |
| Q4 2013 | 20.76 | 20.76 | 2.26 |
| Q1 2014 | 25.77 | 25.77 | 2.26 |
| Q2 2014 | 27.68 | 27.68 | 2.61 |
| Q3 2014 | 32.40 | 32.40 | 3.23 |
| Q4 2014 | 18.48 | 18.48 | 2.18 |
| Q1 2015 | 15.62 | 15.62 | 2.14 |
| Q2 2015 | 16.13 | 16.13 | 2.08 |
| Q3 2015 | 11.73 | 11.73 | 1.50 |
| Q4 2015 | 9.71 | 9.71 | 1.17 |
| Q1 2016 | 9.95 | 9.95 | 1.07 |
| Q2 2016 | 12.45 | 12.45 | 1.11 |
| Q3 2016 | 10.81 | 10.81 | 0.87 |
| Q4 2016 | 16.12 | 16.12 | 0.99 |
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| 2007 | - | - | - |
| 2008 | - | - | - |
| 2009 | - | - | - |
| 2010 | - | - | - |
| 2011 | - | - | - |
| 2012 | 15.89 | 15.89 | 1.77 |
| 2013 | 20.76 | 20.76 | 2.26 |
| 2014 | 18.48 | 18.48 | 2.18 |
| 2015 | 9.71 | 9.71 | 1.17 |
| 2016 | 16.12 | 16.12 | 0.99 |
| Item | Q4 2016 (e) | Q4 2016 (a) | Change |
|---|---|---|---|
| Average | 27.40 | 14.91 | (45.6 %) |
| Item | Q4 2016 (e) | Q4 2016 (a) | Change |
|---|---|---|---|
| AlJazira Capital | 27.40 | 14.91 | (45.6) % |
| Current | |
| Market Cap (M Riyal) | 1,667.70 |
| Enterprise Value (EV) (M) | 1,990.16 |
| Shares Outstanding ((M)) | 170.00 |
| EPS ( Riyal) (TTM) | 0.36 |
| Book Value (BV) ( Riyal) | 11.90 |
| Par Value ( Riyal) | 10.00 |
| Adjusted P/E (Last12) | 26.90 |
| P/E (TTM) | 26.90 |
| Price/book | 0.82 |
| Return on Average Assets (%) (TTM) | 2.5 |
| Return on Average Equity (%) (TTM) | 3.1 |
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