Saudi Ceramic swings to SAR 97 mln loss in FY17

28/03/2018 Argaam Exclusive

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Share Price

Saudi Ceramic Co. (SAUDI CERAMICS)

Saudi Ceramic Co. swung to a net loss of SAR 97 million for the fiscal year 2017, compared to a net profit of SAR 20.2 million a year earlier, on the back of lower sales value amid weak demand and slowdown in the building materials market.

The company also reduced selling prices to maintain its local market share.

Financials (M)

Item	2016	2017	Change‬
Revenues	1,303.52	1,139.73	(12.6 %)
Gross Income	357.83	168.27	(53.0 %)
Operating Income	89.01	(73.38)	(182.4 %)
Net Income	20.18	(97.05)	(580.9 %)
Average Shares	80.00	80.00	-
EPS (Riyals)	0.25	(1.21)	(580.9 %)

Current Quarter Comparison (M)

Compared With The

Item	Q4 2016	Q4 2017	Change‬
Revenues	350.43	325.55	(7.1 %)
Gross Income	73.09	(2.30)	(103.1 %)
Operating Income	6.28	(63.23)	(1106.2 %)
Net Income	(9.22)	(62.77)	(581.2 %)
Average Shares	80.00	80.00	-
EPS (Riyals)	(0.12)	(0.78)	(581.2 %)

Item	Q3 2017	Q4 2017	Change‬
Revenues	224.14	325.55	45.2 %
Gross Income	24.26	(2.30)	(109.5 %)
Operating Income	(29.17)	(63.23)	(116.7 %)
Net Income	(39.91)	(62.77)	(57.3 %)
Average Shares	80.00	80.00	-
EPS (Riyals)	(0.50)	(0.78)	(57.3 %)

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
Q1 2008	199.71	47.8 %	69.83	36.6 %	38.36	50.7 %	0.48
Q2 2008	215.78	42.0 %	85.78	49.5 %	51.73	65.1 %	0.65
Q3 2008	226.11	36.5 %	86.36	39.0 %	49.82	20.2 %	0.62
Q4 2008	215.51	32.9 %	78.59	43.4 %	37.98	29.8 %	0.47
2008	857.11	39.4 %	320.56	42.2 %	177.90	39.5 %	2.22
Q1 2009	231.64	16.0 %	82.09	17.6 %	41.11	7.2 %	0.51
Q2 2009	241.57	12.0 %	86.87	1.3 %	52.14	0.8 %	0.65
Q3 2009	237.62	5.1 %	91.51	6.0 %	52.78	5.9 %	0.66
Q4 2009	246.90	14.6 %	92.03	17.1 %	51.17	34.7 %	0.64
2009	957.73	11.7 %	352.50	10.0 %	197.20	10.8 %	2.47
Q1 2010	268.19	15.8 %	100.71	22.7 %	58.38	42.0 %	0.73
Q2 2010	277.92	15.0 %	99.01	14.0 %	57.87	11.0 %	0.72
Q3 2010	254.76	7.2 %	90.23	(1.4 %)	46.21	(12.4 %)	0.58
Q4 2010	278.96	13.0 %	103.73	12.7 %	58.13	13.6 %	0.73
2010	1,079.83	12.7 %	393.68	11.7 %	220.59	11.9 %	2.76
Q1 2011	306.36	14.2 %	112.11	11.3 %	59.93	2.7 %	0.75
Q2 2011	320.67	15.4 %	117.77	18.9 %	65.38	13.0 %	0.82
Q3 2011	269.71	5.9 %	107.50	19.1 %	54.15	17.2 %	0.68
Q4 2011	324.61	16.4 %	102.39	(1.3 %)	52.55	(9.6 %)	0.66
2011	1,221.35	13.1 %	439.77	11.7 %	232.01	5.2 %	2.90
Q1 2012	360.16	17.6 %	112.93	0.7 %	62.60	4.5 %	0.78
Q2 2012	369.22	15.1 %	121.61	3.3 %	63.43	(3.0 %)	0.79
Q3 2012	346.18	28.4 %	112.91	5.0 %	55.51	2.5 %	0.69
Q4 2012	371.80	14.5 %	126.83	23.9 %	66.04	25.7 %	0.83
2012	1,447.36	18.5 %	474.28	7.8 %	247.58	6.7 %	3.09
Q1 2013	406.29	12.8 %	152.19	34.8 %	82.21	31.3 %	1.03
Q2 2013	428.89	16.2 %	151.71	24.7 %	82.18	29.6 %	1.03
Q3 2013	383.50	10.8 %	138.68	22.8 %	71.80	29.4 %	0.90
Q4 2013	381.87	2.7 %	136.48	7.6 %	73.25	10.9 %	0.92
2013	1,600.55	10.6 %	579.06	22.1 %	309.44	25.0 %	3.87
Q1 2014	424.02	4.4 %	153.61	0.9 %	87.42	6.3 %	1.09
Q2 2014	437.62	2.0 %	152.06	0.2 %	84.09	2.3 %	1.05
Q3 2014	385.64	0.6 %	131.82	(4.9 %)	78.88	9.9 %	0.99
Q4 2014	374.07	(2.0 %)	126.49	(7.3 %)	59.83	(18.3 %)	0.75
2014	1,621.35	1.3 %	563.96	(2.6 %)	310.22	0.3 %	3.88
Q1 2015	447.05	5.4 %	158.46	3.2 %	84.27	(3.6 %)	1.05
Q2 2015	444.31	1.5 %	162.61	6.9 %	81.25	(3.4 %)	1.02
Q3 2015	354.58	(8.1 %)	124.96	(5.2 %)	62.65	(20.6 %)	0.78
Q4 2015	412.03	10.1 %	135.95	7.5 %	55.65	(7.0 %)	0.70
2015	1,657.98	2.3 %	581.98	3.2 %	283.82	(8.5 %)	3.55
Q1 2016	372.80	(16.6 %)	121.11	(23.6 %)	47.68	(43.4 %)	0.60
Q2 2016	347.85	(21.7 %)	109.01	(33.0 %)	28.60	(64.8 %)	0.36
Q3 2016	232.44	(34.4 %)	54.62	(56.3 %)	(46.88)	(174.8 %)	(0.59)
Q4 2016	350.43	(15.0 %)	73.09	(46.2 %)	(9.22)	(116.6 %)	(0.12)
2016	1,303.52	(21.4 %)	357.83	(38.5 %)	20.18	(92.9 %)	0.25
Q1 2017	315.35	(15.4 %)	81.02	(33.1 %)	11.47	(75.9 %)	0.14
Q2 2017	274.69	(21.0 %)	65.29	(40.1 %)	(5.84)	(120.4 %)	(0.07)
Q3 2017	224.14	(3.6 %)	24.26	(55.6 %)	(39.91)	14.9 %	(0.50)
Q4 2017	325.55	(7.1 %)	(2.30)	(103.1 %)	(62.77)	(581.2 %)	(0.78)
2017	1,139.73	(12.6 %)	168.27	(53.0 %)	(97.05)	(580.9 %)	(1.21)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
2008	857.11	39.4 %	320.56	42.2 %	177.90	39.5 %	2.22
2009	957.73	11.7 %	352.50	10.0 %	197.20	10.8 %	2.47
2010	1,079.83	12.7 %	393.68	11.7 %	220.59	11.9 %	2.76
2011	1,221.35	13.1 %	439.77	11.7 %	232.01	5.2 %	2.90
2012	1,447.36	18.5 %	474.28	7.8 %	247.58	6.7 %	3.09
2013	1,600.55	10.6 %	579.06	22.1 %	309.44	25.0 %	3.87
2014	1,621.35	1.3 %	563.96	(2.6 %)	310.22	0.3 %	3.88
2015	1,657.98	2.3 %	581.98	3.2 %	283.82	(8.5 %)	3.55
2016	1,303.52	(21.4 %)	357.83	(38.5 %)	20.18	(92.9 %)	0.25
2017	1,139.73	(12.6 %)	168.27	(53.0 %)	(97.05)	(580.9 %)	(1.21)

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2008	35.92 %	28.11 %	20.66 %
Q2 2008	36.66 %	29.18 %	21.63 %
Q3 2008	36.92 %	29.51 %	21.05 %
Q4 2008	37.40 %	30.27 %	20.76 %
2008	37.40 %	30.27 %	20.76 %
Q1 2009	37.44 %	30.39 %	20.32 %
Q2 2009	36.50 %	29.18 %	19.79 %
Q3 2009	36.60 %	29.14 %	19.86 %
Q4 2009	36.81 %	29.49 %	20.59 %
2009	36.81 %	29.49 %	20.59 %
Q1 2010	37.33 %	30.20 %	21.57 %
Q2 2010	37.19 %	30.61 %	21.37 %
Q3 2010	36.46 %	29.64 %	20.39 %
Q4 2010	36.46 %	29.91 %	20.43 %
2010	36.46 %	29.91 %	20.43 %
Q1 2011	36.23 %	30.00 %	19.87 %
Q2 2011	36.51 %	30.41 %	19.78 %
Q3 2011	37.52 %	31.14 %	20.21 %
Q4 2011	36.01 %	29.85 %	19.00 %
2011	36.01 %	29.85 %	19.00 %
Q1 2012	34.55 %	28.33 %	18.40 %
Q2 2012	33.57 %	26.94 %	17.58 %
Q3 2012	32.13 %	26.07 %	16.72 %
Q4 2012	32.77 %	26.73 %	17.11 %
2012	32.77 %	26.73 %	17.11 %
Q1 2013	34.39 %	28.17 %	17.89 %
Q2 2013	35.00 %	28.91 %	18.41 %
Q3 2013	35.80 %	29.43 %	19.00 %
Q4 2013	36.18 %	29.46 %	19.33 %
2013	36.18 %	29.46 %	19.33 %
Q1 2014	35.87 %	29.28 %	19.44 %
Q2 2014	35.70 %	28.79 %	19.31 %
Q3 2014	35.23 %	27.83 %	18.29 %
Q4 2014	34.78 %	27.19 %	16.44 %
2014	34.78 %	27.19 %	16.44 %
Q1 2015	34.59 %	26.49 %	16.02 %
Q2 2015	35.09 %	26.86 %	15.93 %
Q3 2015	35.34 %	28.19 %	15.96 %
Q4 2015	35.10 %	27.32 %	16.30 %
2015	35.10 %	27.32 %	16.30 %
Q1 2016	34.39 %	27.09 %	14.75 %
Q2 2016	33.02 %	25.77 %	12.17 %
Q3 2016	30.82 %	22.60 %	7.90 %
Q4 2016	27.45 %	20.51 %	3.47 %
2016	27.45 %	20.51 %	3.47 %
Q1 2017	25.50 %	18.97 %	0.28 %
Q2 2017	23.36 %	17.91 %	(2.63 %)
Q3 2017	20.92 %	17.01 %	(4.20 %)
Q4 2017	14.76 %	11.65 %	(8.99 %)
2017	14.76 %	11.65 %	(8.99 %)

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2008	37.40 %	30.27 %	20.76 %
2009	36.81 %	29.49 %	20.59 %
2010	36.46 %	29.91 %	20.43 %
2011	36.01 %	29.85 %	19.00 %
2012	32.77 %	26.73 %	17.11 %
2013	36.18 %	29.46 %	19.33 %
2014	34.78 %	27.19 %	16.44 %
2015	35.10 %	27.32 %	16.30 %
2016	27.45 %	20.51 %	3.47 %
2017	14.76 %	11.65 %	(8.99 %)

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2008	34.97 %	26.90 %	19.21 %
Q2 2008	39.75 %	33.02 %	23.98 %
Q3 2008	38.19 %	32.13 %	22.03 %
Q4 2008	36.47 %	28.67 %	17.62 %
Q1 2009	35.44 %	27.84 %	17.75 %
Q2 2009	35.96 %	28.17 %	21.58 %
Q3 2009	38.51 %	31.80 %	22.21 %
Q4 2009	37.27 %	30.11 %	20.73 %
Q1 2010	37.55 %	30.71 %	21.77 %
Q2 2010	35.63 %	29.95 %	20.82 %
Q3 2010	35.42 %	27.74 %	18.14 %
Q4 2010	37.18 %	31.07 %	20.84 %
Q1 2011	36.59 %	30.96 %	19.56 %
Q2 2011	36.73 %	31.43 %	20.39 %
Q3 2011	39.86 %	31.09 %	20.08 %
Q4 2011	31.54 %	26.21 %	16.19 %
Q1 2012	31.36 %	25.41 %	17.38 %
Q2 2012	32.94 %	26.03 %	17.18 %
Q3 2012	32.62 %	26.68 %	16.03 %
Q4 2012	34.11 %	28.76 %	17.76 %
Q1 2013	37.46 %	30.85 %	20.23 %
Q2 2013	35.37 %	29.02 %	19.16 %
Q3 2013	36.16 %	29.04 %	18.72 %
Q4 2013	35.74 %	28.89 %	19.18 %
Q1 2014	36.23 %	30.11 %	20.62 %
Q2 2014	34.75 %	27.22 %	18.65 %
Q3 2014	34.18 %	24.96 %	14.43 %
Q4 2014	33.81 %	26.15 %	11.19 %
Q1 2015	35.44 %	27.38 %	18.85 %
Q2 2015	36.60 %	28.60 %	18.29 %
Q3 2015	35.24 %	30.84 %	14.43 %
Q4 2015	33.00 %	22.86 %	12.98 %
Q1 2016	32.49 %	26.41 %	12.79 %
Q2 2016	31.34 %	23.36 %	8.22 %
Q3 2016	23.50 %	14.91 %	(9.41 %)
Q4 2016	20.86 %	15.11 %	(2.63 %)
Q1 2017	25.69 %	21.41 %	1.92 %
Q2 2017	23.77 %	20.00 %	(2.13 %)
Q3 2017	10.82 %	10.15 %	(17.81 %)
Q4 2017	(0.71 %)	(3.81 %)	(19.28 %)

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2008	80.00	1.76	1.76	7.35
Q2 2008	80.00	2.01	2.01	7.99
Q3 2008	80.00	2.11	2.11	8.59
Q4 2008	80.00	2.22	2.22	9.05
Q1 2009	80.00	2.26	2.26	8.77
Q2 2009	80.00	2.26	2.26	9.43
Q3 2009	80.00	2.30	2.30	10.10
Q4 2009	80.00	2.47	2.47	10.74
Q1 2010	80.00	2.68	2.68	10.52
Q2 2010	80.00	2.75	2.75	11.24
Q3 2010	80.00	2.67	2.67	11.82
Q4 2010	80.00	2.76	2.76	12.55
Q1 2011	80.00	2.78	2.78	12.19
Q2 2011	80.00	2.87	2.87	13.01
Q3 2011	80.00	2.97	2.97	13.68
Q4 2011	80.00	2.90	2.90	14.34
Q1 2012	80.00	2.93	2.93	15.13
Q2 2012	80.00	2.91	2.91	14.80
Q3 2012	80.00	2.93	2.93	15.49
Q4 2012	80.00	3.09	3.09	16.32
Q1 2013	80.00	3.34	3.34	17.36
Q2 2013	80.00	3.57	3.57	17.20
Q3 2013	80.00	3.78	3.78	18.10
Q4 2013	80.00	3.87	3.87	19.01
Q1 2014	80.00	3.93	3.93	20.10
Q2 2014	80.00	3.96	3.93	19.73
Q3 2014	80.00	4.05	3.72	20.72
Q4 2014	80.00	3.88	3.33	21.45
Q1 2015	80.00	3.84	3.29	22.49
Q2 2015	80.00	3.80	3.29	22.25
Q3 2015	80.00	3.60	3.23	23.03
Q4 2015	80.00	3.55	3.38	23.72
Q1 2016	80.00	3.09	2.92	24.33
Q2 2016	80.00	2.43	2.26	23.43
Q3 2016	80.00	1.06	1.35	22.85
Q4 2016	80.00	0.25	0.56	22.18
Q1 2017	80.00	(0.20)	0.04	22.91
Q2 2017	80.00	(0.63)	(0.39)	22.21
Q3 2017	80.00	(0.54)	(0.61)	21.74
Q4 2017	80.00	(1.21)	(1.28)	20.38

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2008	80.00	2.22	2.22	9.05
2009	80.00	2.47	2.47	10.74
2010	80.00	2.76	2.76	12.55
2011	80.00	2.90	2.90	14.34
2012	80.00	3.09	3.09	16.32
2013	80.00	3.87	3.87	19.01
2014	80.00	3.88	3.33	21.45
2015	80.00	3.55	3.38	23.72
2016	80.00	0.25	0.56	22.18
2017	80.00	(1.21)	(1.28)	20.38

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2008	20.17	20.17	4.82
Q2 2008	18.98	18.98	4.77
Q3 2008	17.78	17.78	4.37
Q4 2008	15.00	15.00	3.69
Q1 2009	12.45	12.45	3.20
Q2 2009	18.48	18.48	4.43
Q3 2009	16.75	16.75	3.82
Q4 2009	14.26	14.26	3.28
Q1 2010	14.20	14.20	3.62
Q2 2010	13.55	13.55	3.32
Q3 2010	16.39	16.39	3.70
Q4 2010	16.76	16.76	3.68
Q1 2011	15.43	15.43	3.51
Q2 2011	15.41	15.41	3.40
Q3 2011	14.03	14.03	3.05
Q4 2011	16.09	16.09	3.26
Q1 2012	15.81	15.81	3.07
Q2 2012	14.98	14.98	2.94
Q3 2012	13.81	13.81	2.61
Q4 2012	11.20	11.20	2.12
Q1 2013	11.71	11.71	2.25
Q2 2013	14.59	14.59	3.03
Q3 2013	14.71	14.71	3.07
Q4 2013	13.55	13.55	2.76
Q1 2014	16.31	16.31	3.19
Q2 2014	16.88	17.01	3.39
Q3 2014	16.94	18.41	3.31
Q4 2014	12.82	14.92	2.32
Q1 2015	12.65	14.74	2.16
Q2 2015	13.04	15.08	2.23
Q3 2015	10.18	11.34	1.59
Q4 2015	8.24	8.66	1.23
Q1 2016	7.71	8.16	0.98
Q2 2016	10.34	11.12	1.07
Q3 2016	15.76	12.42	0.73
Q4 2016	More than 50	36.81	0.94
Q1 2017	NEG	More than 50	0.79
Q2 2017	NEG	NEG	0.83
Q3 2017	NEG	NEG	0.76
Q4 2017	NEG	NEG	0.82

Period	P/E	Adjusted P/E	Price/book
2008	15.00	15.00	3.69
2009	14.26	14.26	3.28
2010	16.76	16.76	3.68
2011	16.09	16.09	3.26
2012	11.20	11.20	2.12
2013	13.55	13.55	2.76
2014	12.82	14.92	2.32
2015	8.24	8.66	1.23
2016	More than 50	36.81	0.94
2017	NEG	NEG	0.82

Business Segments (Million)

Compared With The

Period	Ceramic tile and sanitary ware sector	Heaters sector
Q1 2008	155.61	44.10
Q2 2008	171.84	43.94
Q3 2008	176.99	49.11
Q4 2008	167.30	48.21
Q1 2009	180.35	51.29
Q2 2009	192.03	49.55
Q3 2009	185.62	52.00
Q4 2009	176.20	70.69
Q1 2010	203.05	65.13
Q2 2010	220.80	57.12
Q3 2010	201.80	52.96
Q4 2010	206.24	72.73
Q1 2011	234.66	71.70
Q2 2011	261.21	59.46
Q3 2011	216.65	53.06
Q4 2011	235.72	88.89
Q1 2012	276.26	83.90
Q2 2012	298.52	70.70
Q3 2012	271.12	75.05
Q4 2012	285.86	85.95
Q1 2013	313.82	92.47
Q2 2013	349.20	79.69
Q3 2013	314.46	69.04
Q4 2013	300.20	81.67
Q1 2014	336.95	87.06
Q2 2014	353.97	83.66
Q3 2014	304.32	81.32
Q4 2014	294.58	79.50
Q1 2015	365.19	81.86
Q2 2015	358.31	86.00
Q3 2015	293.40	61.18
Q4 2015	307.83	104.20
Q1 2016	289.14	83.66
Q2 2016	279.81	68.04
Q3 2016	180.46	51.98
Q4 2016	245.75	104.68
Q1 2017	234.30	81.05
Q2 2017	210.46	64.23
Q3 2017	168.81	55.32
Q4 2017	222.02	103.53

Period	Ceramic tile and sanitary ware sector	Heaters sector
2008	671.74	185.37
2009	734.19	223.53
2010	831.89	247.94
2011	948.23	273.11
2012	1,131.76	315.61
2013	1,277.69	322.87
2014	1,289.82	331.54
2015	1,324.73	333.25
2016	995.42	308.10
2017	835.60	304.13

Analysts Estimates (Million)

Item	Q4 2017 (e)	Q4 2017 (a)	Change‬
Average	(7.00)	(62.77)	(796.7 %)

Estimates vs Actual (Million)

Item	Q4 2017 (e)	Q4 2017 (a)	Change
Riyad Capital	(7.00)	(62.77)	(796.7) %

Financial Ratios

	Current
Market Cap (M Riyal)	3,008.00
Enterprise Value (EV) (M)	3,744.00
Shares Outstanding ((M))	80.00
EPS ( Riyal) (TTM)	(2.62)
Book Value (BV) ( Riyal)	19.00
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	Neg
P/E (TTM)	NEG
Price/book	1.98
Return on Average Assets (%) (TTM)	(6.87 )
Return on Average Equity (%) (TTM)	(12.91 )

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Search Result

Saudi Ceramic swings to SAR 97 mln loss in FY17

View other reports

Share Price

Saudi Ceramic Co. (SAUDI CERAMICS)

Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million)

Revenue by Business Segment (Latest) 2017 Q4

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

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Saudi Ceramic swings to SAR 97 mln loss in FY17

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Share Price

Saudi Ceramic Co. (SAUDI CERAMICS)

Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million) Q4 2017

Revenue by Business Segment (Latest) 2017 Q4

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

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Business Segments (Million)