Shaker posts lower net profit at SAR 20.6m in Q1 of 2014

31/03/2014 Argaam Exclusive

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Share Price

Al Hassan Ghazi Ibrahim Shaker Co. (SHAKER)

Al Hassan Ghazi Ibrahim Shaker Company, reported SAR 20.6m net profit at the end of the first quarter of 2014, a 59% decrease compared to the same quarter last year, as shown in the following table:



Current Quarter Comparison (M)

Compared With The
Item Q1 2013 Q1 2014 Change‬
Revenues 458.30 312.18 (31.9 %)
Gross Income 147.64 70.03 (52.6 %)
Operating Income 74.17 14.41 (80.6 %)
Net Income 49.79 20.62 (58.6 %)
Average Shares 55.50 55.50 -
EPS (Riyals) 0.90 0.37 (58.6 %)


Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Riyal)
Q1 2005 - - - - - - -
Q2 2005 - - - - - - -
Q3 2005 - - - - - - -
Q4 2005 - - - - - - -
Q1 2006 - - - - - - -
Q2 2006 - - - - - - -
Q3 2006 - - - - - - -
Q4 2006 - - - - - - -
Q1 2007 - - - - - - -
Q2 2007 - - - - - - -
Q3 2007 - - - - - - -
Q4 2007 - - - - - - -
Q1 2008 - - - - - - -
Q2 2008 - - - - - - -
Q3 2008 - - - - - - -
Q4 2008 - - - - - - -
Q1 2009 - - - - - - -
Q2 2009 - - - - - - -
Q3 2009 295.04 - 107.56 - 53.86 - 0.97
Q4 2009 182.11 - 55.64 - 11.66 - 0.21
Q1 2010 224.35 - 69.71 - 19.29 - 0.35
Q2 2010 350.76 - 125.41 - 58.33 - 1.05
Q3 2010 336.54 14.1 % 108.56 0.9 % 46.57 (13.5 %) 0.84
Q4 2010 244.09 34.0 % 83.14 49.4 % 21.04 80.5 % 0.38
Q1 2011 323.04 44.0 % 94.51 35.6 % 33.61 74.2 % 0.61
Q2 2011 556.37 58.6 % 166.27 32.6 % 73.63 26.2 % 1.33
Q3 2011 413.68 22.9 % 130.54 20.2 % 54.98 18.0 % 0.99
Q4 2011 273.08 11.9 % 75.31 (9.4 %) 18.00 (14.5 %) 0.32
Q1 2012 375.87 16.4 % 114.07 20.7 % 40.03 19.1 % 0.72
Q2 2012 590.87 6.2 % 184.87 11.2 % 82.96 12.7 % 1.49
Q3 2012 455.98 10.2 % 138.15 5.8 % 58.41 6.2 % 1.05
Q4 2012 315.19 15.4 % 82.60 9.7 % 6.24 (65.3 %) 0.11
Q1 2013 458.30 21.9 % 147.64 29.4 % 49.79 24.4 % 0.90
Q2 2013 526.79 (10.8 %) 138.03 (25.3 %) 74.94 (9.7 %) 1.35
Q3 2013 393.82 (13.6 %) 92.95 (32.7 %) 31.35 (46.3 %) 0.56
Q4 2013 318.44 1.0 % 26.53 (67.9 %) (30.98) (596.3 %) (0.56)
Q1 2014 312.18 (31.9 %) 70.03 (52.6 %) 20.62 (58.6 %) 0.37

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2005 - - -
Q2 2005 - - -
Q3 2005 - - -
Q4 2005 - - -
Q1 2006 - - -
Q2 2006 - - -
Q3 2006 - - -
Q4 2006 - - -
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 34.05 % 18.02 % 13.60 %
Q3 2010 32.85 % 16.68 % 12.42 %
Q4 2010 33.47 % 17.08 % 12.57 %
Q1 2011 32.81 % 16.63 % 12.72 %
Q2 2011 30.99 % 15.60 % 11.98 %
Q3 2011 30.87 % 15.80 % 11.92 %
Q4 2011 29.79 % 15.28 % 11.51 %
Q1 2012 30.03 % 15.61 % 11.53 %
Q2 2012 30.53 % 16.33 % 11.85 %
Q3 2012 30.22 % 16.41 % 11.76 %
Q4 2012 29.90 % 15.56 % 10.80 %
Q1 2013 30.39 % 16.12 % 10.84 %
Q2 2013 28.83 % 14.07 % 8.79 %
Q3 2013 27.22 % 11.54 % 6.84 %
Q4 2013 23.87 % 8.62 % 3.84 %
Q1 2014 21.12 % 5.30 % 0.50 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2005 - - - -
Q2 2005 - - - -
Q3 2005 - - - -
Q4 2005 - - - -
Q1 2006 - - - -
Q2 2006 - - - -
Q3 2006 - - - -
Q4 2006 - - - -
Q1 2007 - - - -
Q2 2007 - - - -
Q3 2007 - - - -
Q4 2007 - - - -
Q1 2008 - - - -
Q2 2008 - - - -
Q3 2008 - - - -
Q4 2008 - - - -
Q1 2009 - - - -
Q2 2009 - - - -
Q3 2009 55.50 - - 6.69
Q4 2009 55.50 - - 6.90
Q1 2010 55.50 - - 7.25
Q2 2010 55.50 2.58 2.58 8.30
Q3 2010 55.50 2.45 2.45 9.14
Q4 2010 55.50 2.62 2.62 7.62
Q1 2011 55.50 2.87 2.87 8.23
Q2 2011 55.50 3.15 3.15 9.56
Q3 2011 55.50 3.30 3.30 10.55
Q4 2011 55.50 3.25 3.25 8.66
Q1 2012 55.50 3.36 3.36 9.38
Q2 2012 55.50 3.53 3.53 10.88
Q3 2012 55.50 3.59 3.59 11.93
Q4 2012 55.50 3.38 3.38 9.52
Q1 2013 55.50 3.56 3.56 10.42
Q2 2013 55.50 3.41 2.78 11.77
Q3 2013 55.50 2.92 2.09 12.33
Q4 2013 55.50 2.25 1.17 11.78
Q1 2014 55.50 1.73 0.14 12.15

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2005 - - -
Q2 2005 - - -
Q3 2005 - - -
Q4 2005 - - -
Q1 2006 - - -
Q2 2006 - - -
Q3 2006 - - -
Q4 2006 - - -
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 14.18 14.18 4.41
Q3 2010 17.91 17.91 4.80
Q4 2010 14.64 14.64 5.03
Q1 2011 11.79 11.79 4.12
Q2 2011 13.47 13.47 4.44
Q3 2011 12.23 12.23 3.83
Q4 2011 11.90 11.90 4.46
Q1 2012 13.08 13.08 4.69
Q2 2012 12.77 12.77 4.15
Q3 2012 12.20 12.20 3.67
Q4 2012 12.04 12.04 4.27
Q1 2013 12.50 12.50 4.27
Q2 2013 14.97 18.38 4.34
Q3 2013 17.47 24.47 4.14
Q4 2013 19.52 37.45 3.74
Q1 2014 30.20 More than 50 4.30

Business Segments (Million)

Compared With The
Period LG Air Conditioners and Home Appliances Conditioners and products from the non-LG production
Q1 2010 178.77 45.58
Q2 2010 298.73 52.03
Q3 2010 277.14 59.40
Q4 2010 200.83 43.26
Q1 2011 269.90 53.13
Q2 2011 468.10 88.27
Q3 2011 344.15 69.53
Q4 2011 215.53 57.56
Q1 2012 291.10 84.77
Q2 2012 499.14 91.73
Q3 2012 375.26 80.72
Q4 2012 247.69 67.51
Q1 2013 379.58 78.72
Q2 2013 355.32 109.30
Q3 2013 314.42 79.40
Q4 2013 240.71 77.73
Q1 2014 246.01 66.17

Current
Market Cap (M Riyal) 1,445.78
Enterprise Value (EV) (M) 1,795.10
Shares Outstanding ((M)) 55.50
EPS ( Riyal) (TTM) 1.24
Book Value (BV) ( Riyal) 13.51
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 20.77
P/E (TTM) 20.98
Price/book 1.93
Return on Average Assets (%) (TTM) 4.0
Return on Average Equity (%) (TTM) 9.6

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