Jazan Development posts SAR 71,000 profits in Q1-2015

20/04/2015 Argaam Exclusive

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Jazan Development and Investment Co. (JAZADCO)

 

Jazan Development Co., which produces packaged drinking water, and produces fish and shrimps, posted SAR 71,000 in profits for first quarter 2015, compared to SAR 2.1 million in losses during the same period a year ago.

 

The Saudi-based company said that a steep decrease of sellling costs had a positive impact on the overall company’s results in first quarter, compared to the same quarter 2014.
 
Compared to Q4-2014, the company’s profits were down due to low shrimp sales because of technical procedures that prohibited shrimp-catching during the first quarter.


Current Quarter Comparison (M)

Compared With The
Item Q1 2014 Q1 2015 Change‬
Revenues 13.87 11.45 (17.5 %)
Gross Income (0.24) 2.07 963.3 %
Operating Income (3.06) (0.61) 80.0 %
Net Income (2.08) 0.07 103.5 %
Average Shares 50.00 50.00 -
EPS (Riyals) (0.04) 0.00 103.5 %


Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Riyal)
Q1 2006 5.74 34.7 % 1.41 98.7 % 82.97 1110.2 % 1.66
Q2 2006 6.65 (12.3 %) 0.82 43.1 % 27.36 (7.8 %) 0.55
Q3 2006 4.14 25.3 % 0.20 239.3 % 18.06 (12.8 %) 0.36
Q4 2006 2.13 (43.4 %) (0.34) (35.6 %) 6.25 (43.9 %) 0.13
Q1 2007 8.81 53.4 % 2.97 110.6 % 8.62 (89.6 %) 0.17
Q2 2007 6.01 (9.5 %) (0.08) (110.1 %) 2.03 (92.6 %) 0.04
Q3 2007 7.63 84.4 % 1.71 778.5 % 4.43 (75.5 %) 0.09
Q4 2007 4.36 104.2 % (0.57) (70.4 %) (0.80) (112.9 %) (0.02)
Q1 2008 13.75 56.1 % 2.62 (11.9 %) 5.00 (42.0 %) 0.10
Q2 2008 13.36 122.1 % 1.56 1981.9 % 7.42 265.8 % 0.15
Q3 2008 4.86 (36.2 %) (3.26) (290.1 %) 11.19 152.3 % 0.22
Q4 2008 9.66 121.6 % (0.12) 78.8 % (3.77) (368.5 %) (0.08)
Q1 2009 5.07 (63.2 %) 1.07 (59.2 %) 0.07 (98.7 %) 0.00
Q2 2009 13.09 (2.0 %) 1.49 (4.7 %) 0.73 (90.2 %) 0.01
Q3 2009 11.15 129.2 % 1.17 136.0 % (2.76) (124.7 %) (0.06)
Q4 2009 12.63 30.7 % 4.47 3793.4 % (32.11) (752.3 %) (0.64)
Q1 2010 22.66 347.3 % 4.64 334.2 % 3.02 4403.0 % 0.06
Q2 2010 23.84 82.2 % (4.78) (420.8 %) (33.09) (4645.2 %) (0.66)
Q3 2010 12.94 16.1 % (0.42) (136.1 %) 22.23 905.6 % 0.44
Q4 2010 16.01 26.8 % (1.04) (123.3 %) (13.89) 56.7 % (0.28)
Q1 2011 20.06 (11.5 %) (4.16) (189.5 %) (6.70) (322.2 %) (0.13)
Q2 2011 20.98 (12.0 %) 0.18 103.8 % (4.94) 85.1 % (0.10)
Q3 2011 16.15 24.8 % (5.03) (1,085.1 %) (26.51) (219.2 %) (0.53)
Q4 2011 13.07 (18.4 %) (7.10) (581.7 %) (30.89) (122.4 %) (0.62)
Q1 2012 7.10 (64.6 %) (3.19) 23.2 % (4.05) 39.6 % (0.08)
Q2 2012 7.91 (62.3 %) (5.80) (3286.3 %) (6.33) (28.1 %) (0.13)
Q3 2012 8.58 (46.9 %) (4.15) 17.3 % (9.69) 63.4 % (0.19)
Q4 2012 14.94 14.3 % (4.20) 40.9 % 1.73 105.6 % 0.03
Q1 2013 7.09 (0.2 %) (4.65) (45.7 %) 21.87 640.4 % 0.44
Q2 2013 11.39 43.9 % (1.94) 66.6 % 134.11 2219.6 % 2.68
Q3 2013 9.62 12.1 % (2.06) 50.4 % (5.24) 45.9 % (0.10)
Q4 2013 16.41 9.9 % (3.56) 15.2 % (50.09) (2993.8 %) (1.00)
Q1 2014 13.87 95.8 % (0.24) 94.8 % (2.08) (109.5 %) (0.04)
Q2 2014 15.21 33.6 % 3.01 255.4 % 1.15 (99.1 %) 0.02
Q3 2014 12.04 25.2 % 3.29 259.7 % 3.55 167.7 % 0.07
Q4 2014 24.11 46.9 % 8.48 338.3 % 5.74 111.4 % 0.11
Q1 2015 11.45 (17.5 %) 2.07 963.3 % 0.07 103.5 % 0.00

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2006 7.83 % (10.83 %) 708.62 %
Q2 2006 9.48 % (2.50 %) 730.68 %
Q3 2006 10.74 % (0.19 %) 687.58 %
Q4 2006 11.21 % 3.49 % 721.71 %
Q1 2007 16.81 % 14.17 % 277.54 %
Q2 2007 13.03 % 4.67 % 165.78 %
Q3 2007 17.36 % 15.84 % 86.78 %
Q4 2007 15.04 % 9.33 % 53.26 %
Q1 2008 11.58 % 7.83 % 33.56 %
Q2 2008 13.61 % 12.04 % 41.05 %
Q3 2008 0.97 % (1.60 %) 62.76 %
Q4 2008 1.93 % 1.01 % 47.66 %
Q1 2009 (2.26 %) (1.59 %) 45.26 %
Q2 2009 (2.51 %) 0.73 % 25.14 %
Q3 2009 9.27 % 14.62 % (14.71 %)
Q4 2009 19.56 % 26.36 % (81.27 %)
Q1 2010 19.78 % 27.05 % (52.29 %)
Q2 2010 7.84 % 14.17 % (92.42 %)
Q3 2010 5.43 % 14.21 % (55.43 %)
Q4 2010 (2.12 %) 8.77 % (28.79 %)
Q1 2011 (14.27 %) (2.22 %) (43.16 %)
Q2 2011 (7.77 %) 4.20 % (4.71 %)
Q3 2011 (13.72 %) (3.01 %) (71.09 %)
Q4 2011 (22.92 %) (12.68 %) (49.84 %)
Q1 2012 (26.42 %) (14.60 %) (56.48 %)
Q2 2012 (47.75 %) (32.91 %) (76.32 %)
Q3 2012 (55.24 %) (38.85 %) (46.20 %)
Q4 2012 (45.01 %) (27.87 %) (71.14 %)
Q1 2013 (48.81 %) (32.30 %) (78.00 %)
Q2 2013 (35.57 %) (18.99 %) (106.04 %)
Q3 2013 (29.85 %) (15.73 %) (93.23 %)
Q4 2013 (27.43 %) (4.80 %) (154.13 %)
Q1 2014 (15.21 %) 0.65 % (124.75 %)
Q2 2014 (5.17 %) 7.33 % (76.25 %)
Q3 2014 4.35 % 13.79 % (57.70 %)
Q4 2014 22.30 % 21.10 % 12.81 %
Q1 2015 26.84 % 25.77 % 16.72 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2006 50.00 2.89 2.89 16.09
Q2 2006 50.00 2.84 2.84 16.53
Q3 2006 50.00 2.79 2.79 16.64
Q4 2006 50.00 2.69 2.69 16.09
Q1 2007 50.00 1.21 1.21 16.26
Q2 2007 50.00 0.70 0.70 14.89
Q3 2007 50.00 0.43 0.43 14.92
Q4 2007 50.00 0.29 0.29 14.96
Q1 2008 50.00 0.21 0.21 14.52
Q2 2008 50.00 0.32 0.32 14.10
Q3 2008 50.00 0.46 0.46 13.89
Q4 2008 50.00 0.40 0.40 13.51
Q1 2009 50.00 0.30 0.30 12.90
Q2 2009 50.00 0.16 0.16 13.10
Q3 2009 50.00 (0.11) (0.11) 12.60
Q4 2009 50.00 (0.68) (0.68) 12.44
Q1 2010 50.00 (0.62) (0.62) 12.99
Q2 2010 50.00 (1.30) (1.30) 12.29
Q3 2010 50.00 (0.80) (0.80) 12.28
Q4 2010 50.00 (0.43) (0.43) 12.00
Q1 2011 50.00 (0.63) (0.63) 11.84
Q2 2011 50.00 (0.07) (0.07) 11.81
Q3 2011 50.00 (1.04) (1.04) 11.25
Q4 2011 50.00 (1.38) (0.70) 10.54
Q1 2012 50.00 (1.33) (0.65) 10.50
Q2 2012 50.00 (1.36) (0.67) 10.32
Q3 2012 50.00 (1.02) (0.34) 10.11
Q4 2012 50.00 (0.37) (0.55) 10.14
Q1 2013 50.00 0.15 (0.60) 10.30
Q2 2013 50.00 2.96 (0.89) 12.98
Q3 2013 50.00 3.05 (0.80) 12.88
Q4 2013 50.00 2.01 (1.37) 11.92
Q1 2014 50.00 1.53 (1.28) 11.88
Q2 2014 50.00 (1.13) (0.84) 11.90
Q3 2014 50.00 (0.95) (0.66) 11.96
Q4 2014 50.00 0.17 0.17 12.04
Q1 2015 50.00 0.21 0.21 12.06

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2006 14.67 14.67 2.64
Q2 2006 21.45 21.45 3.69
Q3 2006 26.16 26.16 4.39
Q4 2006 9.01 9.01 1.51
Q1 2007 20.32 20.32 1.51
Q2 2007 27.17 27.17 1.28
Q3 2007 More than 50 More than 50 1.66
Q4 2007 More than 50 More than 50 1.67
Q1 2008 More than 50 More than 50 1.22
Q2 2008 More than 50 More than 50 1.21
Q3 2008 27.41 27.41 0.90
Q4 2008 23.32 23.32 0.68
Q1 2009 31.02 31.02 0.72
Q2 2009 More than 50 More than 50 0.91
Q3 2009 NEG NEG 0.87
Q4 2009 NEG NEG 1.08
Q1 2010 NEG NEG 1.14
Q2 2010 NEG NEG 1.11
Q3 2010 NEG NEG 1.18
Q4 2010 NEG NEG 1.12
Q1 2011 NEG NEG 1.49
Q2 2011 NEG NEG 1.74
Q3 2011 NEG NEG 1.75
Q4 2011 NEG NEG 3.01
Q1 2012 NEG NEG 2.31
Q2 2012 NEG NEG 1.44
Q3 2012 NEG NEG 1.58
Q4 2012 NEG NEG 1.50
Q1 2013 More than 50 NEG 1.56
Q2 2013 5.51 NEG 1.26
Q3 2013 5.38 NEG 1.27
Q4 2013 8.67 NEG 1.46
Q1 2014 12.06 NEG 1.56
Q2 2014 NEG NEG 1.74
Q3 2014 NEG NEG 1.74
Q4 2014 More than 50 More than 50 1.16
Q1 2015 More than 50 More than 50 1.19

Business Segments (Million)

Compared With The
Period Agricultural Activity Commercial sector Investment properties sector
Q3 2010 11.30 1.23 0.42
Q4 2010 12.25 3.29 0.47
Q1 2011 17.52 2.01 0.53
Q2 2011 17.12 3.23 0.62
Q3 2011 11.91 3.51 0.74
Q4 2011 8.74 3.10 1.22
Q1 2012 3.24 3.03 0.83
Q2 2012 2.44 4.68 0.79
Q3 2012 0.53 7.11 0.94
Q4 2012 7.94 6.10 0.89
Q1 2013 2.71 3.49 0.89
Q2 2013 3.85 6.64 0.91
Q3 2013 1.15 7.53 0.93
Q4 2013 7.83 7.63 0.95
Q1 2014 6.59 6.34 0.94
Q2 2014 4.87 9.28 1.05
Q3 2014 1.19 9.96 0.89
Q4 2014 15.06 7.84 1.21
Q1 2015 1.05 6.95 3.45

Current
Market Cap (M Riyal) 733.00
Enterprise Value (EV) (M) 756.92
Shares Outstanding ((M)) 50.00
EPS ( Riyal) (TTM) (0.82)
Book Value (BV) ( Riyal) 9.24
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 1.59
Return on Average Assets (%) (TTM) (6.50 )
Return on Average Equity (%) (TTM) (8.11 )

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