SIDC swings to SAR 10 mln loss in FY17

04/03/2018 Argaam Exclusive

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Share Price

Saudi Industrial Development Co. (SIDC)

Saudi Industrial Development Co. (SIDC) swung to net loss of SAR 10.2 million in fiscal year 2017, compared to a profit of SAR 40,000 in the previous year. The decline was attributed to operating losses due to higher production costs, and lower sales.

Financials (M)

Item	2016	2017	Change‬
Revenues	259.53	240.14	(7.5 %)
Gross Income	66.95	34.51	(48.5 %)
Operating Income	(0.77)	(22.69)	(2,865.6 %)
Net Income	0.04	(10.21)	(27700.0 %)
Average Shares	40.00	40.00	-
EPS (Riyals)	0.00	(0.26)	(27700.0 %)

Current Quarter Comparison (M)

Compared With The

Item	Q4 2016	Q4 2017	Change‬
Revenues	45.59	51.67	13.3 %
Gross Income	12.19	6.26	(48.7 %)
Operating Income	(3.81)	(9.83)	(157.9 %)
Net Income	8.25	2.93	(64.5 %)
Average Shares	40.00	40.00	-
EPS (Riyals)	0.21	0.07	(64.5 %)

Item	Q3 2017	Q4 2017	Change‬
Revenues	65.21	51.67	(20.8 %)
Gross Income	6.72	6.26	(6.9 %)
Operating Income	(3.54)	(9.83)	(177.4 %)
Net Income	(3.62)	2.93	180.8 %
Average Shares	40.00	40.00	-
EPS (Riyals)	(0.09)	0.07	180.8 %

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
Q1 2008	55.14	(49.9 %)	11.22	(7.5 %)	(1.25)	68.3 %	(0.03)
Q2 2008	66.14	(19.9 %)	13.12	(10.9 %)	(3.09)	(13.2 %)	(0.08)
Q3 2008	72.26	1.8 %	10.43	(1.5 %)	(4.90)	(48.5 %)	(0.12)
Q4 2008	56.80	(5.1 %)	12.16	(23.7 %)	3.71	(82.9 %)	0.09
2008	250.34	8.1 %	46.93	(16.4 %)	(5.52)	(146.9 %)	(0.14)
Q1 2009	51.84	(6.0 %)	6.99	(37.7 %)	(2.75)	(120.9 %)	(0.07)
Q2 2009	58.02	(12.3 %)	12.36	(5.9 %)	0.97	131.5 %	0.02
Q3 2009	60.79	(15.9 %)	13.07	25.3 %	0.13	102.7 %	0.00
Q4 2009	51.76	(8.9 %)	15.85	30.4 %	(1.83)	(149.2 %)	(0.05)
2009	222.42	(11.2 %)	48.26	2.8 %	(3.47)	37.1 %	(0.09)
Q1 2010	52.62	1.5 %	12.19	74.5 %	0.14	105.0 %	0.00
Q2 2010	60.51	4.3 %	14.47	17.2 %	101.10	10279.5 %	2.53
Q3 2010	64.95	6.8 %	17.70	35.5 %	9.73	7328.2 %	0.24
Q4 2010	54.02	4.4 %	11.01	(30.6 %)	(10.36)	(466.7 %)	(0.26)
2010	232.10	4.4 %	55.37	14.7 %	100.61	2996.8 %	2.52
Q1 2011	64.36	22.3 %	15.94	30.8 %	4.26	3008.8 %	0.11
Q2 2011	80.50	33.0 %	18.57	28.3 %	5.67	(94.4 %)	0.14
Q3 2011	82.51	27.0 %	26.05	47.1 %	12.09	24.3 %	0.30
Q4 2011	73.15	35.4 %	17.98	63.4 %	2.60	125.1 %	0.07
2011	300.52	29.5 %	78.54	41.8 %	24.62	(75.5 %)	0.62
Q1 2012	75.20	16.8 %	23.07	44.7 %	9.15	114.8 %	0.23
Q2 2012	81.73	1.5 %	25.04	34.8 %	10.54	85.9 %	0.26
Q3 2012	84.68	2.6 %	25.10	(3.6 %)	8.90	(26.4 %)	0.22
Q4 2012	72.82	(0.4 %)	21.47	19.4 %	4.58	75.9 %	0.11
2012	314.43	4.6 %	94.67	20.5 %	33.16	34.7 %	0.83
Q1 2013	79.81	6.1 %	23.39	1.4 %	6.55	(28.4 %)	0.16
Q2 2013	84.89	3.9 %	27.92	11.5 %	12.28	16.6 %	0.31
Q3 2013	86.34	2.0 %	27.42	9.2 %	9.12	2.5 %	0.23
Q4 2013	68.72	(5.6 %)	21.26	(0.9 %)	7.53	64.6 %	0.19
2013	319.75	1.7 %	99.99	5.6 %	35.48	7.0 %	0.89
Q1 2014	75.07	(5.9 %)	22.35	(4.5 %)	23.77	262.9 %	0.59
Q2 2014	85.66	0.9 %	25.93	(7.1 %)	1.32	(89.3 %)	0.03
Q3 2014	87.12	0.9 %	24.31	(11.3 %)	13.85	51.9 %	0.35
Q4 2014	68.09	(0.9 %)	16.15	(24.0 %)	(31.99)	(524.7 %)	(0.80)
2014	315.94	(1.2 %)	84.31	(15.7 %)	6.95	(80.4 %)	0.17
Q1 2015	79.01	5.2 %	24.17	8.1 %	4.74	(80.1 %)	0.12
Q2 2015	92.50	8.0 %	30.70	18.4 %	12.53	852.3 %	0.31
Q3 2015	84.70	(2.8 %)	27.88	14.7 %	(11.60)	(183.7 %)	(0.29)
Q4 2015	69.32	1.8 %	16.55	2.5 %	(24.62)	23.0 %	(0.62)
2015	325.53	3.0 %	99.30	17.8 %	(18.95)	(372.8 %)	(0.47)
Q1 2016	67.44	(14.6 %)	17.17	(29.0 %)	(8.56)	(280.7 %)	(0.21)
Q2 2016	79.46	(14.1 %)	20.24	(34.1 %)	8.09	(35.5 %)	0.20
Q3 2016	67.05	(20.8 %)	17.36	(37.7 %)	(7.74)	33.2 %	(0.19)
Q4 2016	45.59	(34.2 %)	12.19	(26.3 %)	8.25	133.5 %	0.21
2016	259.53	(20.3 %)	66.95	(32.6 %)	0.04	100.2 %	0.00
Q1 2017	61.22	(9.2 %)	14.99	(12.7 %)	0.81	109.5 %	0.02
Q2 2017	62.04	(21.9 %)	6.54	(67.7 %)	(10.33)	(227.7 %)	(0.26)
Q3 2017	65.21	(2.7 %)	6.72	(61.3 %)	(3.62)	53.3 %	(0.09)
Q4 2017	51.67	13.3 %	6.26	(48.7 %)	2.93	(64.5 %)	0.07
2017	240.14	(7.5 %)	34.51	(48.5 %)	(10.21)	(27700.0 %)	(0.26)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
2008	250.34	8.1 %	46.93	(16.4 %)	(5.52)	(146.9 %)	(0.14)
2009	222.42	(11.2 %)	48.26	2.8 %	(3.47)	37.1 %	(0.09)
2010	232.10	4.4 %	55.37	14.7 %	100.61	2996.8 %	2.52
2011	300.52	29.5 %	78.54	41.8 %	24.62	(75.5 %)	0.62
2012	314.43	4.6 %	94.67	20.5 %	33.16	34.7 %	0.83
2013	319.75	1.7 %	99.99	5.6 %	35.48	7.0 %	0.89
2014	315.94	(1.2 %)	84.31	(15.7 %)	6.95	(80.4 %)	0.17
2015	325.53	3.0 %	99.30	17.8 %	(18.95)	(372.8 %)	(0.47)
2016	259.53	(20.3 %)	66.95	(32.6 %)	0.04	100.2 %	0.00
2017	240.14	(7.5 %)	34.51	(48.5 %)	(10.21)	(27700.0 %)	(0.26)

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2008	19.54 %	4.15 %	5.38 %
Q2 2008	20.17 %	4.34 %	5.59 %
Q3 2008	20.01 %	5.04 %	4.93 %
Q4 2008	18.74 %	6.91 %	(2.21 %)
2008	18.74 %	6.91 %	(2.21 %)
Q1 2009	17.28 %	5.52 %	(2.84 %)
Q2 2009	17.55 %	5.13 %	(1.24 %)
Q3 2009	19.59 %	6.24 %	0.91 %
Q4 2009	21.70 %	6.73 %	(1.56 %)
2009	21.70 %	6.73 %	(1.56 %)
Q1 2010	23.95 %	8.97 %	(0.26 %)
Q2 2010	24.63 %	9.21 %	(0.90 %)
Q3 2010	26.20 %	9.99 %	1.30 %
Q4 2010	23.86 %	6.85 %	(2.41 %)
2010	23.86 %	6.85 %	(2.41 %)
Q1 2011	24.25 %	7.41 %	(0.60 %)
Q2 2011	23.96 %	8.26 %	1.77 %
Q3 2011	25.43 %	10.24 %	4.13 %
Q4 2011	26.13 %	12.45 %	8.19 %
2011	26.13 %	12.45 %	8.19 %
Q1 2012	27.51 %	13.92 %	9.48 %
Q2 2012	29.47 %	15.73 %	11.00 %
Q3 2012	28.97 %	14.70 %	9.91 %
Q4 2012	30.11 %	15.19 %	10.54 %
2012	30.11 %	15.19 %	10.54 %
Q1 2013	29.78 %	13.90 %	9.58 %
Q2 2013	30.38 %	13.51 %	10.03 %
Q3 2013	30.94 %	13.32 %	10.04 %
Q4 2013	31.27 %	12.94 %	11.10 %
2013	31.27 %	12.94 %	11.10 %
Q1 2014	31.41 %	12.14 %	14.22 %
Q2 2014	30.70 %	9.94 %	6.56 %
Q3 2014	29.64 %	8.60 %	6.57 %
Q4 2014	28.08 %	7.04 %	(5.66 %)
2014	26.69 %	7.04 %	(5.66 %)
Q1 2015	28.31 %	7.76 %	(9.08 %)
Q2 2015	29.18 %	9.66 %	(1.44 %)
Q3 2015	30.50 %	10.65 %	(7.86 %)
Q4 2015	30.50 %	10.04 %	(1.33 %)
2015	30.50 %	10.04 %	(1.33 %)
Q1 2016	29.40 %	7.96 %	(5.62 %)
Q2 2016	27.19 %	5.63 %	(5.72 %)
Q3 2016	25.18 %	4.04 %	(1.45 %)
Q4 2016	25.80 %	4.40 %	(1.55 %)
2016	25.80 %	4.40 %	(1.55 %)
Q1 2017	25.57 %	5.49 %	2.11 %
Q2 2017	21.66 %	0.65 %	(7.61 %)
Q3 2017	17.28 %	(1.85 %)	(9.86 %)
Q4 2017	14.37 %	(4.38 %)	(9.46 %)
2017	14.37 %	(4.38 %)	(9.54 %)

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2008	18.74 %	6.91 %	(2.21 %)
2009	21.70 %	6.73 %	(1.56 %)
2010	23.86 %	6.85 %	(2.41 %)
2011	26.13 %	12.45 %	8.19 %
2012	30.11 %	15.19 %	10.54 %
2013	31.27 %	12.94 %	11.10 %
2014	26.69 %	7.04 %	(5.66 %)
2015	30.50 %	10.04 %	(1.33 %)
2016	25.80 %	4.40 %	(1.55 %)
2017	14.37 %	(4.38 %)	(9.54 %)

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2008	20.34 %	6.59 %	(2.26 %)
Q2 2008	19.84 %	8.31 %	(4.68 %)
Q3 2008	14.43 %	5.78 %	(6.77 %)
Q4 2008	21.40 %	7.02 %	6.54 %
Q1 2009	13.48 %	(0.02 %)	(5.30 %)
Q2 2009	21.29 %	7.07 %	1.68 %
Q3 2009	21.49 %	10.08 %	0.22 %
Q4 2009	30.63 %	9.19 %	(3.53 %)
Q1 2010	23.17 %	9.56 %	0.26 %
Q2 2010	23.92 %	8.04 %	(0.77 %)
Q3 2010	27.25 %	12.80 %	7.93 %
Q4 2010	20.37 %	(4.28 %)	(19.27 %)
Q1 2011	24.77 %	11.18 %	6.62 %
Q2 2011	23.07 %	10.68 %	7.04 %
Q3 2011	31.57 %	18.61 %	14.66 %
Q4 2011	24.58 %	8.56 %	3.56 %
Q1 2012	30.68 %	17.46 %	12.17 %
Q2 2012	30.63 %	17.67 %	12.89 %
Q3 2012	29.64 %	14.70 %	10.50 %
Q4 2012	29.48 %	10.65 %	6.28 %
Q1 2013	29.31 %	12.15 %	8.21 %
Q2 2013	32.89 %	16.06 %	14.47 %
Q3 2013	31.75 %	13.96 %	10.56 %
Q4 2013	30.94 %	8.71 %	10.96 %
Q1 2014	29.77 %	8.73 %	21.14 %
Q2 2014	30.27 %	7.94 %	(13.78 %)
Q3 2014	27.90 %	9.04 %	10.56 %
Q4 2014	23.72 %	1.48 %	(45.75 %)
Q1 2015	30.59 %	11.58 %	5.99 %
Q2 2015	33.19 %	14.62 %	13.55 %
Q3 2015	32.91 %	12.81 %	(13.69 %)
Q4 2015	23.88 %	(1.20 %)	(14.44 %)
Q1 2016	25.45 %	2.14 %	(12.69 %)
Q2 2016	25.47 %	6.91 %	16.30 %
Q3 2016	25.89 %	7.98 %	2.26 %
Q4 2016	26.74 %	(1.88 %)	(21.80 %)
Q1 2017	24.49 %	6.40 %	1.32 %
Q2 2017	10.54 %	(11.10 %)	(16.65 %)
Q3 2017	10.31 %	(0.77 %)	(5.55 %)
Q4 2017	12.11 %	(13.62 %)	(18.56 %)

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2008	40.00	0.36	0.36	9.29
Q2 2008	40.00	0.35	0.35	9.26
Q3 2008	40.00	0.31	0.31	7.30
Q4 2008	40.00	(0.14)	(0.14)	5.86
Q1 2009	40.00	(0.18)	(0.18)	6.14
Q2 2009	40.00	(0.07)	(0.07)	6.77
Q3 2009	40.00	0.05	0.05	7.28
Q4 2009	40.00	(0.09)	(0.09)	7.27
Q1 2010	40.00	(0.01)	(0.01)	7.71
Q2 2010	40.00	2.49	(0.05)	7.92
Q3 2010	40.00	2.73	0.07	8.34
Q4 2010	40.00	2.52	(0.14)	8.09
Q1 2011	40.00	2.62	(0.04)	8.19
Q2 2011	40.00	0.23	0.12	8.34
Q3 2011	40.00	0.29	0.29	8.48
Q4 2011	40.00	0.62	0.62	8.46
Q1 2012	40.00	0.74	0.74	8.69
Q2 2012	40.00	0.86	0.86	8.95
Q3 2012	40.00	0.78	0.78	9.17
Q4 2012	40.00	0.83	0.83	9.26
Q1 2013	40.00	0.76	0.76	9.38
Q2 2013	40.00	0.81	0.81	9.68
Q3 2013	40.00	0.81	0.81	9.91
Q4 2013	40.00	0.89	0.89	10.10
Q1 2014	40.00	1.32	1.12	10.60
Q2 2014	40.00	1.04	0.52	10.71
Q3 2014	40.00	1.16	0.52	11.06
Q4 2014	40.00	0.17	(0.45)	10.26
Q1 2015	40.00	(0.30)	(0.73)	10.34
Q2 2015	40.00	(0.02)	(0.12)	10.66
Q3 2015	40.00	(0.66)	(0.64)	10.35
Q4 2015	40.00	(0.47)	(0.11)	9.73
Q1 2016	40.00	(0.81)	(0.44)	9.40
Q2 2016	40.00	(0.92)	(0.43)	9.58
Q3 2016	40.00	(0.82)	(0.10)	9.38
Q4 2016	40.00	0.00	(0.10)	9.05
Q1 2017	40.00	0.24	0.13	9.07
Q2 2017	40.00	(0.23)	(0.45)	8.81
Q3 2017	40.00	(0.12)	(0.58)	8.72
Q4 2017	40.00	(0.26)	(0.57)	8.80

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2008	40.00	(0.14)	(0.14)	5.86
2009	40.00	(0.09)	(0.09)	7.27
2010	40.00	2.52	(0.14)	8.09
2011	40.00	0.62	0.62	8.46
2012	40.00	0.83	0.83	9.26
2013	40.00	0.89	0.89	10.10
2014	40.00	0.17	(0.45)	10.26
2015	40.00	(0.47)	(0.11)	9.73
2016	40.00	0.00	(0.10)	9.05
2017	40.00	(0.26)	(0.57)	8.80

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2008	49.11	49.11	1.91
Q2 2008	47.53	47.53	1.81
Q3 2008	33.60	33.60	1.44
Q4 2008	NEG	NEG	1.26
Q1 2009	NEG	NEG	1.38
Q2 2009	NEG	NEG	1.48
Q3 2009	More than 50	More than 50	1.33
Q4 2009	NEG	NEG	1.26
Q1 2010	NEG	NEG	1.16
Q2 2010	3.58	NEG	1.12
Q3 2010	3.17	More than 50	1.04
Q4 2010	3.68	NEG	1.14
Q1 2011	4.18	NEG	1.34
Q2 2011	More than 50	More than 50	1.77
Q3 2011	44.59	44.79	1.53
Q4 2011	22.83	22.83	1.66
Q1 2012	41.88	41.88	3.56
Q2 2012	17.28	17.28	1.66
Q3 2012	21.81	21.81	1.85
Q4 2012	19.66	19.66	1.76
Q1 2013	24.48	24.48	1.99
Q2 2013	19.13	19.13	1.60
Q3 2013	19.92	19.92	1.63
Q4 2013	22.32	22.32	1.96
Q1 2014	16.20	19.06	2.01
Q2 2014	20.03	40.35	1.95
Q3 2014	19.20	42.89	2.02
Q4 2014	More than 50	NEG	1.43
Q1 2015	NEG	NEG	1.79
Q2 2015	NEG	NEG	1.63
Q3 2015	NEG	NEG	1.16
Q4 2015	NEG	NEG	1.45
Q1 2016	NEG	NEG	1.04
Q2 2016	NEG	NEG	1.09
Q3 2016	NEG	NEG	0.83
Q4 2016	More than 50	NEG	1.14
Q1 2017	More than 50	More than 50	1.31
Q2 2017	NEG	NEG	1.31
Q3 2017	NEG	NEG	1.24
Q4 2017	NEG	NEG	1.15

Period	P/E	Adjusted P/E	Price/book
2008	NEG	NEG	1.26
2009	NEG	NEG	1.26
2010	3.68	NEG	1.14
2011	22.83	22.83	1.66
2012	19.66	19.66	1.76
2013	22.32	22.32	1.96
2014	More than 50	NEG	1.43
2015	NEG	NEG	1.45
2016	More than 50	NEG	1.14
2017	NEG	NEG	1.15

Business Segments (Million)

Compared With The

Period	Mattresses & sponge sector	Sanitary ware segment	Sheet Iron	Headquarters
Q1 2013	68.42	11.38	-	-
Q2 2013	70.01	14.88	-	-
Q3 2013	72.99	13.35	-	-
Q4 2013	56.96	11.75	-	-
Q1 2014	63.66	11.41	-	-
Q2 2014	71.48	14.18	-	-
Q3 2014	75.80	11.31	-	-
Q4 2014	56.93	11.16	-	-
Q1 2015	68.29	10.72	-	-
Q2 2015	81.05	11.45	-	-
Q3 2015	73.64	11.06	-	-
Q4 2015	60.17	9.16	-	-
Q1 2016	57.68	9.51	-	0.25
Q2 2016	70.76	8.96	-	-
Q3 2016	60.75	6.30	-	-
Q4 2016	39.54	6.05	-	-
Q1 2017	53.19	8.03	-	-
Q2 2017	54.94	7.09	-	-
Q3 2017	58.79	6.42	-	-
Q4 2017	43.63	8.04	-	-

Period	Mattresses & sponge sector	Sanitary ware segment	Sheet Iron	Headquarters
2008	216.22	34.12	-	-
2009	191.20	31.22	-	-
2010	199.85	32.25	-	-
2011	261.04	39.48	-	-
2012	271.72	42.71	-	-
2013	268.38	51.37	-	-
2014	267.87	48.06	-	-
2015	283.15	42.38	-	-
2016	228.72	30.81	-	-
2017	210.55	29.59	-	-

Financial Ratios

	Current
Market Cap (M Riyal)	392.80
Enterprise Value (EV) (M)	410.42
Shares Outstanding ((M))	40.00
EPS ( Riyal) (TTM)	(1.87)
Book Value (BV) ( Riyal)	2.34
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	Neg
P/E (TTM)	NEG
Price/book	4.19
Return on Average Assets (%) (TTM)	(31.27 )
Return on Average Equity (%) (TTM)	(58.47 )

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SIDC swings to SAR 10 mln loss in FY17

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Share Price

Saudi Industrial Development Co. (SIDC)

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

Financial Ratios

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SIDC swings to SAR 10 mln loss in FY17

View other reports

Share Price

Saudi Industrial Development Co. (SIDC)

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

Financial Ratios

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Business Segments (Million)