SAPTCO’s Q1 net profit down 82% to SAR 24.4 mln

14/04/2016 Argaam Exclusive

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Share Price

17.90
(0.02) (0.11 %)

Saudi Public Transport Co. (SAPTCO)

 

Saudi Public Transportation Company (SAPTCO), which provides inter-city transportation services in the kingdom, reported a net profit of SAR 24.4 million for the first quarter of 2016, a drop of 82.3 percent year-on-year (YoY). The company attributed the decline to higher activity costs, marketing expenses and financing costs, in addition to lower revenue share from a joint venture.

 

 

The company turned to profit in Q1 after a net loss of SAR 35.5 million in Q4-2015 due to higher other revenue, lower activity cost and lower Zakat expenses. 



Current Quarter Comparison (M)

Compared With The
Item Q1 2015 Q1 2016 Change‬
Revenues 238.82 257.00 7.6 %
Gross Income 37.09 44.33 19.5 %
Operating Income 10.28 16.81 63.5 %
Net Income 137.91 32.77 (76.2 %)
Average Shares 125.00 125.00 -
EPS (Riyals) 1.10 0.26 (76.2 %)


Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Riyal)
Q1 2007 161.84 (12.4 %) 28.36 (49.8 %) 19.95 (59.8 %) 0.16
Q2 2007 147.42 7.4 % 14.41 (19.0 %) 1.28 (99.5 %) 0.01
Q3 2007 183.48 10.5 % 42.81 31.3 % 35.11 2768.3 % 0.28
Q4 2007 239.61 5.3 % 48.28 (26.9 %) 45.65 69.3 % 0.37
Q1 2008 140.91 (12.9 %) 5.50 (80.6 %) (5.18) (126.0 %) (0.04)
Q2 2008 161.03 9.2 % 4.26 (70.5 %) (49.32) (3952.8 %) (0.39)
Q3 2008 206.34 12.5 % 42.95 0.3 % 24.64 (29.8 %) 0.20
Q4 2008 258.19 7.8 % 72.88 50.9 % 59.96 31.3 % 0.48
Q1 2009 145.40 3.2 % 5.86 6.6 % (8.97) (73.0 %) (0.07)
Q2 2009 163.63 1.6 % 1.27 (70.3 %) (7.11) 85.6 % (0.06)
Q3 2009 204.48 (0.9 %) 26.96 (37.2 %) 6.01 (75.6 %) 0.05
Q4 2009 238.92 (7.5 %) 68.58 (5.9 %) 41.99 (30.0 %) 0.34
Q1 2010 136.94 (5.8 %) 4.16 (29.0 %) (8.52) 5.1 % (0.07)
Q2 2010 165.76 1.3 % 16.87 1233.8 % 4.53 163.8 % 0.04
Q3 2010 205.35 0.4 % 30.79 14.2 % 9.22 53.4 % 0.07
Q4 2010 238.23 (0.3 %) 66.23 (3.4 %) 44.78 6.6 % 0.36
Q1 2011 132.57 (3.2 %) (18.30) (539.9 %) (31.07) (264.9 %) (0.25)
Q2 2011 191.05 15.3 % 36.32 115.3 % 19.92 339.5 % 0.16
Q3 2011 219.01 6.7 % 50.69 64.6 % 26.26 184.7 % 0.21
Q4 2011 267.34 12.2 % 71.91 8.6 % 50.16 12.0 % 0.40
Q1 2012 167.03 26.0 % 10.16 155.5 % 6.72 121.6 % 0.05
Q2 2012 202.52 6.0 % 27.50 (24.3 %) 16.99 (14.7 %) 0.14
Q3 2012 239.32 9.3 % 43.28 (14.6 %) 16.83 (35.9 %) 0.13
Q4 2012 306.07 14.5 % 79.65 10.8 % 33.28 (33.7 %) 0.27
Q1 2013 202.69 21.4 % 27.94 175.0 % 20.08 198.7 % 0.16
Q2 2013 257.03 26.9 % 55.86 103.1 % 36.21 113.1 % 0.29
Q3 2013 224.84 (6.1 %) 11.77 (72.8 %) (13.11) (177.9 %) (0.10)
Q4 2013 283.29 (7.4 %) 78.77 (1.1 %) 34.40 3.4 % 0.28
Q1 2014 231.31 14.1 % 41.48 48.4 % 21.10 5.1 % 0.17
Q2 2014 229.77 (10.6 %) 30.87 (44.7 %) 22.44 (38.0 %) 0.18
Q3 2014 272.83 21.3 % 44.97 281.9 % 23.79 281.5 % 0.19
Q4 2014 285.29 0.7 % 70.28 (10.8 %) 34.72 0.9 % 0.28
Q1 2015 238.82 3.2 % 37.09 (10.6 %) 137.91 553.7 % 1.10
Q2 2015 252.93 10.1 % 30.08 (2.6 %) 12.82 (42.9 %) 0.10
Q3 2015 360.90 32.3 % 123.15 173.9 % 81.40 242.1 % 0.65
Q4 2015 248.06 (13.1 %) 36.83 (47.6 %) (35.51) (202.3 %) (0.28)
Q1 2016 257.00 7.6 % 44.33 19.5 % 32.77 (76.2 %) 0.26

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2007 20.90 % 27.97 % 41.19 %
Q2 2007 20.12 % 26.68 % 7.03 %
Q3 2007 21.05 % 27.58 % 11.56 %
Q4 2007 18.28 % 25.95 % 13.93 %
Q1 2008 15.60 % 23.87 % 10.80 %
Q2 2008 13.91 % 21.87 % 8.08 %
Q3 2008 13.50 % 21.36 % 6.43 %
Q4 2008 16.39 % 23.42 % 8.14 %
Q1 2009 16.34 % 22.72 % 7.61 %
Q2 2009 15.90 % 23.10 % 8.86 %
Q3 2009 13.86 % 21.02 % 6.47 %
Q4 2009 13.64 % 20.66 % 4.24 %
Q1 2010 13.57 % 21.40 % 4.35 %
Q2 2010 15.62 % 24.08 % 5.90 %
Q3 2010 16.12 % 24.70 % 6.32 %
Q4 2010 15.82 % 26.19 % 6.70 %
Q1 2011 12.88 % 23.15 % 3.51 %
Q2 2011 14.99 % 24.44 % 5.41 %
Q3 2011 17.28 % 26.00 % 7.48 %
Q4 2011 17.36 % 25.59 % 7.88 %
Q1 2012 20.02 % 28.33 % 10.77 %
Q2 2012 18.72 % 27.41 % 10.19 %
Q3 2012 17.44 % 26.62 % 8.89 %
Q4 2012 17.55 % 24.11 % 6.57 %
Q1 2013 18.76 % 25.40 % 8.00 %
Q2 2013 20.57 % 26.75 % 9.60 %
Q3 2013 17.69 % 24.37 % 6.72 %
Q4 2013 18.01 % 24.80 % 7.09 %
Q1 2014 18.85 % 25.06 % 7.90 %
Q2 2014 16.81 % 23.25 % 5.53 %
Q3 2014 19.28 % 24.49 % 7.71 %
Q4 2014 18.41 % 24.73 % 7.67 %
Q1 2015 17.84 % 22.59 % 7.46 %
Q2 2015 17.37 % 20.32 % 7.30 %
Q3 2015 22.90 % 24.08 % 12.53 %
Q4 2015 20.64 % 20.29 % 7.31 %
Q1 2016 20.95 % 20.86 % 7.77 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2007 125.00 2.28 2.28 11.61
Q2 2007 125.00 0.40 0.40 11.03
Q3 2007 125.00 0.67 0.67 11.37
Q4 2007 125.00 0.82 0.82 11.91
Q1 2008 125.00 0.61 0.61 11.80
Q2 2008 125.00 0.21 0.47 10.96
Q3 2008 125.00 0.13 0.38 11.02
Q4 2008 125.00 0.24 0.50 11.31
Q1 2009 125.00 0.21 0.47 11.21
Q2 2009 125.00 0.55 0.55 10.71
Q3 2009 125.00 0.40 0.40 10.78
Q4 2009 125.00 0.26 0.26 11.10
Q1 2010 125.00 0.26 0.26 11.08
Q2 2010 125.00 0.35 0.35 11.09
Q3 2010 125.00 0.38 0.38 11.18
Q4 2010 125.00 0.40 0.40 11.56
Q1 2011 125.00 0.22 0.21 11.32
Q2 2011 125.00 0.34 0.33 10.98
Q3 2011 125.00 0.48 0.47 11.15
Q4 2011 125.00 0.52 0.51 11.59
Q1 2012 125.00 0.82 0.73 11.66
Q2 2012 125.00 0.80 0.70 11.22
Q3 2012 125.00 0.73 0.62 11.37
Q4 2012 125.00 0.59 0.48 11.66
Q1 2013 125.00 0.70 0.61 11.82
Q2 2013 125.00 0.85 0.77 11.59
Q3 2013 125.00 0.61 0.53 11.49
Q4 2013 125.00 0.62 0.55 11.76
Q1 2014 125.00 0.63 0.63 11.47
Q2 2014 125.00 0.52 0.43 11.59
Q3 2014 125.00 0.81 0.63 11.79
Q4 2014 125.00 0.82 0.63 11.95
Q1 2015 125.00 1.75 0.61 13.07
Q2 2015 125.00 1.67 0.61 11.97
Q3 2015 125.00 2.13 1.14 12.42
Q4 2015 125.00 1.57 0.64 12.18
Q1 2016 125.00 0.73 0.70 12.38

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2007 7.10 7.10 1.39
Q2 2007 33.52 33.52 1.20
Q3 2007 21.38 21.38 1.25
Q4 2007 21.45 21.45 1.47
Q1 2008 22.77 22.77 1.19
Q2 2008 More than 50 29.87 1.28
Q3 2008 More than 50 25.33 0.88
Q4 2008 29.49 14.22 0.63
Q1 2009 38.01 17.05 0.71
Q2 2009 15.42 15.41 0.79
Q3 2009 20.92 20.92 0.77
Q4 2009 32.10 32.10 0.74
Q1 2010 32.62 32.62 0.76
Q2 2010 21.30 21.30 0.68
Q3 2010 19.98 19.98 0.68
Q4 2010 18.37 18.37 0.64
Q1 2011 36.18 38.17 0.70
Q2 2011 21.59 22.30 0.67
Q3 2011 15.24 15.62 0.65
Q4 2011 17.52 17.92 0.79
Q1 2012 22.80 25.84 1.61
Q2 2012 17.23 19.77 1.23
Q3 2012 23.08 26.88 1.47
Q4 2012 27.94 34.32 1.42
Q1 2013 23.09 26.46 1.36
Q2 2013 18.15 20.01 1.33
Q3 2013 34.66 39.81 1.85
Q4 2013 43.66 49.39 2.30
Q1 2014 44.37 44.32 2.43
Q2 2014 More than 50 More than 50 3.23
Q3 2014 47.84 More than 50 3.30
Q4 2014 29.40 38.39 2.01
Q1 2015 16.28 46.54 2.18
Q2 2015 16.35 44.63 2.29
Q3 2015 8.31 15.56 1.43
Q4 2015 10.66 26.06 1.38
Q1 2016 16.57 17.45 0.98

Business Segments (Million)

Compared With The
Period passenger transport segment Public transportation project Specialized Services Headquarters Consolidation adjustments & eliminations
Q1 2009 104.29 - 30.12 10.99 -
Q2 2009 119.01 - 32.68 11.94 -
Q3 2009 165.83 - 23.11 15.54 -
Q4 2009 137.50 - 91.05 10.38 -
Q1 2010 104.16 - 32.60 0.18 -
Q2 2010 122.63 - 40.99 2.15 -
Q3 2010 173.65 - 28.76 2.94 -
Q4 2010 139.84 - 94.33 4.06 -
Q1 2011 100.55 - 29.37 2.65 -
Q2 2011 132.68 - 53.76 4.60 -
Q3 2011 181.27 - 31.57 6.17 -
Q4 2011 135.85 - 123.87 7.62 -
Q1 2012 124.99 - 34.08 7.96 -
Q2 2012 144.58 - 45.22 12.72 -
Q3 2012 187.00 - 36.82 15.49 -
Q4 2012 159.17 - 132.84 14.07 -
Q1 2013 145.80 - 41.59 15.30 -
Q2 2013 188.07 - 51.54 17.43 -
Q3 2013 171.24 - 35.47 18.12 -
Q4 2013 152.60 - 112.75 17.94 -
Q1 2014 148.11 - 66.07 17.14 -
Q2 2014 149.33 - 59.60 20.84 -
Q3 2014 194.28 - 49.77 28.78 -
Q4 2014 156.70 - 106.80 21.79 -
Q1 2015 157.40 - 59.58 21.84 -
Q2 2015 171.90 - 50.46 30.58 -
Q3 2015 219.06 - 117.79 24.06 -
Q4 2015 151.02 - 60.98 37.32 -
Q1 2016 170.55 15.87 51.44 20.59 (1.45)

Current
Market Cap (M Riyal) 2,237.50
Enterprise Value (EV) (M) 3,164.85
Shares Outstanding ((M)) 125.00
EPS ( Riyal) (TTM) (0.32)
Book Value (BV) ( Riyal) 6.92
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 2.59
Return on Average Assets (%) (TTM) (0.98 )
Return on Average Equity (%) (TTM) (4.56 )

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