Bawan swings to losses in FY18

18/03/2019 Argaam Exclusive

View other reports

Share Price

43.60
(0.70) (1.58 %)

Bawan Co. (BAWAN)

Bawan Co. incurred net losses of SAR 218.35 million for FY18, versus net profit of SAR 71.01 million a year earlier.

 

These losses were driven by SAR 189.2 million in non-operating and non-cash goodwill impairment after an acquisition deal.

 

The company also cited the allocation of SAR 25.8 million in provisions to hedge against receivables impairment at SAR 16.8 million and inventory impairment at SAR 9.0 million.

 

Also, the company reported lower revenue and profit margins during the period on soft demand and fierce competition



Financials (M)

Item 2017 2018 Change‬
Revenues 2,128.75 1,953.46 (8.2 %)
Gross Income 263.20 155.58 (40.9 %)
Operating Income 107.34 (0.46) (100.4 %)
Net Income 71.01 (218.35) (407.5 %)
Average Shares 60.00 60.00 -
EPS (Riyals) 1.18 (3.64) (407.5 %)


Current Quarter Comparison (M)

Compared With The
Item Q4 2017 Q4 2018 Change‬
Revenues 596.16 521.52 (12.5 %)
Gross Income 78.21 19.14 (75.5 %)
Operating Income 30.50 (29.82) (197.8 %)
Net Income 17.23 (229.84) (1433.9 %)
Average Shares 60.00 60.00 -
EPS (Riyals) 0.29 (3.83) (1433.9 %)


Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Riyal)
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 558.24 - 70.14 - 32.21 - 0.54
Q2 2012 531.64 - 64.40 - 34.49 - 0.57
Q3 2012 493.18 - 63.94 - 27.22 - 0.45
Q4 2012 502.56 - 79.96 - 37.26 - 0.62
Q1 2013 571.83 2.4 % 82.56 17.7 % 40.35 25.3 % 0.67
Q2 2013 619.59 16.5 % 105.23 63.4 % 43.97 27.5 % 0.73
Q3 2013 616.28 25.0 % 112.60 76.1 % 44.97 65.2 % 0.75
Q4 2013 640.77 27.5 % 93.20 16.6 % 38.90 4.4 % 0.65
Q1 2014 773.49 35.3 % 113.12 37.0 % 46.72 15.8 % 0.78
Q2 2014 758.47 22.4 % 107.51 2.2 % 47.10 7.1 % 0.79
Q3 2014 613.76 (0.4 %) 92.10 (18.2 %) 45.42 1.0 % 0.76
Q4 2014 654.49 2.1 % 81.30 (12.8 %) 37.22 (4.3 %) 0.62
Q1 2015 661.53 (14.5 %) 76.76 (32.1 %) 27.33 (41.5 %) 0.46
Q2 2015 646.04 (14.8 %) 71.90 (33.1 %) 23.81 (49.5 %) 0.40
Q3 2015 546.48 (11.0 %) 70.02 (24.0 %) 20.13 (55.7 %) 0.34
Q4 2015 549.94 (16.0 %) 76.47 (5.9 %) 16.88 (54.6 %) 0.28
Q1 2016 611.19 (7.6 %) 83.15 8.3 % 28.52 4.4 % 0.48
Q2 2016 642.66 (0.5 %) 120.65 67.8 % 53.22 123.6 % 0.89
Q3 2016 535.02 (2.1 %) 73.70 5.3 % 21.11 4.9 % 0.35
Q4 2016 529.76 (3.7 %) 74.24 (2.9 %) 11.52 (31.8 %) 0.19
Q1 2017 549.99 (10.0 %) 68.85 (17.2 %) 21.59 (24.3 %) 0.36
Q2 2017 475.66 (26.0 %) 53.25 (55.9 %) 8.90 (83.3 %) 0.15
Q3 2017 506.94 (5.2 %) 62.89 (14.7 %) 23.29 10.4 % 0.39
Q4 2017 596.16 12.5 % 78.21 5.3 % 17.23 49.6 % 0.29
Q1 2018 522.35 (5.0 %) 56.60 (17.8 %) 14.02 (35.1 %) 0.23
Q2 2018 465.77 (2.1 %) 39.73 (25.4 %) 1.60 (82.0 %) 0.03
Q3 2018 443.81 (12.5 %) 40.11 (36.2 %) (4.13) (117.7 %) (0.07)
Q4 2018 521.52 (12.5 %) 19.14 (75.5 %) (229.84) (1433.9 %) (3.83)
2018 1,953.46 (8.2 %) 155.58 (40.9 %) (218.35) (407.5 %) (3.64)

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
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 - - -
Q3 2012 - - -
Q4 2012 13.35 % 9.27 % 6.29 %
Q1 2013 13.86 % 9.69 % 6.64 %
Q2 2013 15.17 % 10.84 % 7.35 %
Q3 2013 16.46 % 11.90 % 8.33 %
Q4 2013 16.08 % 11.36 % 7.45 %
Q1 2014 16.01 % 11.23 % 7.36 %
Q2 2014 15.29 % 10.41 % 6.54 %
Q3 2014 14.57 % 9.81 % 6.02 %
Q4 2014 14.07 % 9.60 % 5.89 %
Q1 2015 13.30 % 8.89 % 5.18 %
Q2 2015 12.50 % 8.18 % 4.65 %
Q3 2015 11.96 % 7.43 % 3.80 %
Q4 2015 12.28 % 7.47 % 3.67 %
Q1 2016 12.81 % 7.81 % 3.80 %
Q2 2016 14.90 % 9.35 % 5.05 %
Q3 2016 15.13 % 9.52 % 5.12 %
Q4 2016 15.17 % 9.26 % 4.93 %
Q1 2017 14.95 % 9.12 % 4.76 %
Q2 2017 12.92 % 7.55 % 3.02 %
Q3 2017 12.57 % 7.50 % 3.17 %
Q4 2017 12.36 % 7.64 % 3.34 %
Q1 2018 11.94 % 7.16 % 3.02 %
Q2 2018 11.35 % 6.60 % 2.68 %
Q3 2018 10.58 % 5.59 % 1.42 %
Q4 2018 7.96 % 2.70 % (1.49 %)
2018 7.96 % 2.70 % (1.49 %)


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
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 60.00 - - 11.07
Q2 2012 60.00 - - 10.36
Q3 2012 60.00 - - 10.12
Q4 2012 60.00 2.19 2.19 10.68
Q1 2013 60.00 2.32 2.32 10.30
Q2 2013 60.00 2.48 2.68 10.73
Q3 2013 60.00 2.78 3.21 11.24
Q4 2013 60.00 2.80 3.04 11.88
Q1 2014 60.00 2.91 3.25 12.68
Q2 2014 60.00 2.96 3.04 12.18
Q3 2014 60.00 2.97 2.80 12.51
Q4 2014 60.00 2.94 2.75 12.66
Q1 2015 60.00 2.62 2.32 12.69
Q2 2015 60.00 2.23 2.00 12.66
Q3 2015 60.00 1.81 1.59 12.79
Q4 2015 60.00 1.47 1.47 12.79
Q1 2016 60.00 1.49 1.49 13.02
Q2 2016 60.00 1.98 1.98 13.65
Q3 2016 60.00 2.00 2.00 13.62
Q4 2016 60.00 1.91 1.91 13.52
Q1 2017 60.00 1.79 1.79 13.64
Q2 2017 60.00 1.05 1.05 13.39
Q3 2017 60.00 1.09 1.09 13.78
Q4 2017 60.00 1.18 1.18 14.03
Q1 2018 60.00 1.06 1.06 13.84
Q2 2018 60.00 0.94 0.94 13.86
Q3 2018 60.00 0.48 0.48 13.80
Q4 2018 60.00 (3.64) (0.49) 10.11

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
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 - - -
Q3 2012 - - -
Q4 2012 - - -
Q1 2013 - - -
Q2 2013 - - -
Q3 2013 - - -
Q4 2013 18.88 17.40 4.45
Q1 2014 16.90 15.13 3.88
Q2 2014 21.00 20.46 5.10
Q3 2014 22.05 23.40 5.23
Q4 2014 13.46 14.41 3.13
Q1 2015 15.62 17.62 3.22
Q2 2015 18.03 20.15 3.18
Q3 2015 15.58 17.70 2.20
Q4 2015 15.89 15.89 1.83
Q1 2016 11.49 11.49 1.31
Q2 2016 11.78 11.78 1.71
Q3 2016 8.58 8.58 1.26
Q4 2016 11.87 11.87 1.67
Q1 2017 10.81 10.81 1.42
Q2 2017 16.67 16.67 1.31
Q3 2017 15.70 15.70 1.24
Q4 2017 14.80 14.80 1.25
Q1 2018 16.31 16.31 1.25
Q2 2018 18.30 18.30 1.23
Q3 2018 29.58 29.58 1.03
Q4 2018 NEG NEG 1.31

Business Segments (Million)

Compared With The
Period Steel and Wood Electrical products concrete Iron Industry Wood Others..
Q1 2013 - 144.29 49.35 246.91 131.28 -
Q2 2013 - 162.80 48.42 265.70 142.67 -
Q3 2013 - 198.54 42.88 228.37 146.49 -
Q4 2013 - 158.02 42.56 282.14 158.05 -
Q1 2014 - 214.90 49.87 354.48 154.23 -
Q2 2014 - 213.59 48.86 330.29 165.73 -
Q3 2014 - 140.24 38.50 243.33 191.69 -
Q4 2014 - 119.18 53.22 316.65 165.44 -
Q1 2015 - 90.02 57.09 330.33 184.08 -
Q2 2015 - 113.47 51.96 301.33 179.29 -
Q3 2015 - 119.82 46.97 215.28 164.41 -
Q4 2015 - 146.98 51.18 200.32 151.46 -
Q1 2016 398.15 161.52 51.52 - - -
Q2 2016 406.92 184.17 51.57 - - -
Q3 2016 325.99 165.20 43.83 - - -
Q4 2016 365.21 116.84 47.70 - - -
Q1 2017 390.68 110.76 48.56 - - -
Q2 2017 337.01 94.47 44.18 - - -
Q3 2017 400.03 63.71 43.20 - - -
Q4 2017 455.36 91.42 49.38 - - -
Q1 2018 408.92 75.86 37.58 - - -
Q2 2018 366.07 67.85 31.85 - - -
Q3 2018 344.77 59.99 39.06 - - -
Q4 2018 417.37 58.45 45.70 - - -

Current
Market Cap (M Riyal) 2,616.00
Enterprise Value (EV) (M) 3,013.54
Shares Outstanding ((M)) 60.00
EPS ( Riyal) (TTM) 2.18
Book Value (BV) ( Riyal) 14.97
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 21.28
P/E (TTM) 20.02
Price/book 2.91
Return on Average Assets (%) (TTM) 5.7
Return on Average Equity (%) (TTM) 14.9

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.