Al Abdullatif posts SAR 30 mln profit for 9M 2017

23/10/2017 Argaam Exclusive

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Share Price

Al Abdullatif Industrial Investment Co.
18.12
0.92 5.35 %

Al Abdullatif Industrial Investment Co. (ALABDULLATIF)

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Al Abdullatif Industrial Investment Co. (AIIC) reported a net profit of SAR 29.6 million in the first nine months of 2017, a 2.5 percent year-on-year (YoY) increase, attributed to higher revenue, decreased costs of finance, and no investment losses.



Financials (M)

Item 9m 2016 9m 2017 Change‬
Revenues 578.59 446.90 (22.8 %)
Gross Income 83.44 68.14 (18.3 %)
Operating Income 54.08 39.37 (27.2 %)
Net Income 28.91 29.17 0.9 %
Average Shares 81.25 81.25 -
EPS (Riyals) 0.36 0.36 0.9 %

Q3 net profit more than doubled to SAR 3.5 million due to lower costs of finance and no losses recorded from the company’s investments.

 

Compared to the previous quarter, Q3 net earnings plunged 74.2 percent.



Current Quarter Comparison (M)

Compared With The
Item Q3 2016 Q3 2017 Change‬
Revenues 134.88 98.04 (27.3 %)
Gross Income 17.04 14.56 (14.6 %)
Operating Income 7.42 6.23 (16.0 %)
Net Income 1.51 3.40 125.6 %
Average Shares 81.25 81.25 -
EPS (Riyals) 0.02 0.04 125.6 %


Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Riyal)
Q1 2008 278.26 24.6 % 64.31 9.8 % 51.55 7.4 % 0.63
Q2 2008 312.61 24.5 % 67.68 14.1 % 50.07 8.9 % 0.62
Q3 2008 291.57 3.2 % 75.45 9.5 % 71.63 30.8 % 0.88
Q4 2008 256.46 (17.1 %) 43.35 (38.3 %) 28.05 (45.3 %) 0.35
Q1 2009 231.35 (16.9 %) 37.91 (41.1 %) 26.01 (49.5 %) 0.32
Q2 2009 219.76 (29.7 %) 61.57 (9.0 %) 45.83 (8.5 %) 0.56
Q3 2009 240.33 (17.6 %) 71.18 (5.7 %) 57.08 (20.3 %) 0.70
Q4 2009 304.61 18.8 % 57.96 33.7 % 39.64 41.3 % 0.49
Q1 2010 265.73 14.9 % 55.54 46.5 % 41.51 59.6 % 0.51
Q2 2010 271.88 23.7 % 53.53 (13.1 %) 38.44 (16.1 %) 0.47
Q3 2010 297.75 23.9 % 57.43 (19.3 %) 40.14 (29.7 %) 0.49
Q4 2010 303.64 (0.3 %) 49.05 (15.4 %) 32.34 (18.4 %) 0.40
Q1 2011 317.36 19.4 % 51.95 (6.5 %) 35.44 (14.6 %) 0.44
Q2 2011 345.00 26.9 % 59.84 11.8 % 41.91 9.0 % 0.52
Q3 2011 345.60 16.1 % 58.96 2.7 % 40.97 2.1 % 0.50
Q4 2011 329.51 8.5 % 56.94 16.1 % 37.65 16.4 % 0.46
Q1 2012 372.38 17.3 % 75.15 44.7 % 55.54 56.7 % 0.68
Q2 2012 385.35 11.7 % 95.89 60.2 % 69.68 66.3 % 0.86
Q3 2012 363.82 5.3 % 93.84 59.2 % 70.95 73.2 % 0.87
Q4 2012 332.98 1.1 % 87.77 54.1 % 67.51 79.3 % 0.83
Q1 2013 358.93 (3.6 %) 87.37 16.3 % 67.92 22.3 % 0.84
Q2 2013 349.55 (9.3 %) 92.06 (4.0 %) 70.67 1.4 % 0.87
Q3 2013 319.13 (12.3 %) 79.14 (15.7 %) 65.46 (7.7 %) 0.81
Q4 2013 320.36 (3.8 %) 70.41 (19.8 %) 62.78 (7.0 %) 0.77
Q1 2014 336.82 (6.2 %) 74.99 (14.2 %) 59.93 (11.8 %) 0.74
Q2 2014 339.16 (3.0 %) 71.44 (22.4 %) 63.87 (9.6 %) 0.79
Q3 2014 309.82 (2.9 %) 64.54 (18.4 %) 46.27 (29.3 %) 0.57
Q4 2014 339.26 5.9 % 53.02 (24.7 %) 30.34 (51.7 %) 0.37
Q1 2015 310.93 (7.7 %) 60.86 (18.8 %) 45.04 (24.9 %) 0.55
Q2 2015 306.01 (9.8 %) 75.96 6.3 % 54.27 (15.0 %) 0.67
Q3 2015 238.11 (23.1 %) 39.97 (38.1 %) 27.63 (40.3 %) 0.34
Q4 2015 244.22 (28.0 %) 30.96 (41.6 %) 12.28 (59.5 %) 0.15
Q1 2016 229.10 (26.3 %) 39.66 (34.8 %) 14.76 (67.2 %) 0.18
Q2 2016 214.61 (29.9 %) 26.74 (64.8 %) 12.64 (76.7 %) 0.16
Q3 2016 134.88 (43.4 %) 17.04 (57.4 %) 1.51 (94.5 %) 0.02
Q4 2016 162.22 (33.6 %) 22.59 (27.0 %) (0.26) (102.1 %) 0.00
Q1 2017 166.61 (27.3 %) 26.37 (33.5 %) 12.18 (17.5 %) 0.15
Q2 2017 182.25 (15.1 %) 27.21 1.8 % 13.59 7.5 % 0.17
Q3 2017 98.04 (27.3 %) 14.56 (14.6 %) 3.40 125.6 % 0.04

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2008 23.44 % 26.25 % 18.16 %
Q2 2008 22.93 % 25.57 % 17.56 %
Q3 2008 23.31 % 25.52 % 18.84 %
Q4 2008 22.02 % 24.79 % 17.68 %
Q1 2009 20.55 % 23.82 % 16.10 %
Q2 2009 21.85 % 26.33 % 17.17 %
Q3 2009 22.58 % 28.14 % 16.56 %
Q4 2009 22.95 % 28.27 % 16.92 %
Q1 2010 23.90 % 29.14 % 17.86 %
Q2 2010 22.00 % 26.85 % 16.32 %
Q3 2010 19.69 % 24.14 % 14.01 %
Q4 2010 18.93 % 23.38 % 13.38 %
Q1 2011 17.80 % 21.77 % 12.29 %
Q2 2011 17.27 % 20.72 % 11.86 %
Q3 2011 16.76 % 19.86 % 11.49 %
Q4 2011 17.02 % 20.07 % 11.66 %
Q1 2012 18.02 % 20.24 % 12.64 %
Q2 2012 20.03 % 21.24 % 14.23 %
Q3 2012 22.18 % 23.01 % 16.11 %
Q4 2012 24.24 % 24.76 % 18.13 %
Q1 2013 25.32 % 25.86 % 19.16 %
Q2 2013 25.69 % 26.61 % 19.71 %
Q3 2013 25.46 % 26.10 % 19.49 %
Q4 2013 24.41 % 25.11 % 18.21 %
Q1 2014 23.88 % 24.76 % 17.63 %
Q2 2014 22.50 % 23.48 % 16.45 %
Q3 2014 21.54 % 22.62 % 15.59 %
Q4 2014 19.92 % 21.13 % 14.40 %
Q1 2015 19.23 % 20.66 % 13.83 %
Q2 2015 20.09 % 21.69 % 14.27 %
Q3 2015 19.24 % 21.29 % 13.56 %
Q4 2015 18.90 % 20.55 % 12.67 %
Q1 2016 18.34 % 20.33 % 11.70 %
Q2 2016 14.83 % 17.28 % 8.36 %
Q3 2016 13.90 % 16.68 % 6.23 %
Q4 2016 14.31 % 16.33 % 5.23 %
Q1 2017 13.67 % 15.64 % 3.84 %
Q2 2017 14.43 % 16.36 % 4.18 %
Q3 2017 14.90 % 16.99 % 4.75 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2008 81.25 2.51 2.51 14.31
Q2 2008 81.25 2.56 2.56 13.72
Q3 2008 81.25 2.76 2.76 14.61
Q4 2008 81.25 2.48 2.48 14.95
Q1 2009 81.25 2.16 2.16 15.27
Q2 2009 81.25 2.11 2.11 15.84
Q3 2009 81.25 1.93 1.93 16.54
Q4 2009 81.25 2.07 2.07 17.03
Q1 2010 81.25 2.27 2.27 17.54
Q2 2010 81.25 2.17 2.17 14.51
Q3 2010 81.25 1.97 1.97 15.00
Q4 2010 81.25 1.88 1.88 13.90
Q1 2011 81.25 1.80 1.80 14.34
Q2 2011 81.25 1.84 1.84 13.85
Q3 2011 81.25 1.85 1.85 14.36
Q4 2011 81.25 1.92 1.92 14.82
Q1 2012 81.25 2.17 2.17 14.01
Q2 2012 81.25 2.51 2.51 14.86
Q3 2012 81.25 2.88 2.88 15.74
Q4 2012 81.25 3.25 3.25 15.32
Q1 2013 81.25 3.40 3.40 16.15
Q2 2013 81.25 3.41 3.41 15.77
Q3 2013 81.25 3.34 3.26 16.58
Q4 2013 81.25 3.28 3.02 15.35
Q1 2014 81.25 3.19 2.88 16.09
Q2 2014 81.25 3.10 2.66 15.87
Q3 2014 81.25 2.87 2.51 16.44
Q4 2014 81.25 2.47 2.35 15.32
Q1 2015 81.25 2.28 2.21 15.87
Q2 2015 81.25 2.17 2.22 16.04
Q3 2015 81.25 1.94 1.99 16.38
Q4 2015 81.25 1.71 1.71 15.28
Q1 2016 81.25 1.34 1.47 15.46
Q2 2016 81.25 0.83 0.95 15.02
Q3 2016 81.25 0.51 0.63 15.04
Q4 2016 81.25 0.35 0.48 15.04
Q1 2017 81.25 0.32 0.32 15.21
Q2 2017 81.25 0.33 0.33 14.88
Q3 2017 81.25 0.36 0.36 14.92

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2008 21.23 21.23 3.72
Q2 2008 25.62 25.62 4.77
Q3 2008 27.05 27.05 5.12
Q4 2008 18.00 18.00 2.98
Q1 2009 17.29 17.29 2.45
Q2 2009 20.13 20.13 2.68
Q3 2009 23.24 23.24 2.71
Q4 2009 19.96 19.96 2.43
Q1 2010 19.86 19.86 2.57
Q2 2010 13.06 13.06 1.96
Q3 2010 15.46 15.46 2.03
Q4 2010 15.40 15.40 2.08
Q1 2011 15.10 15.10 1.90
Q2 2011 14.37 14.37 1.91
Q3 2011 13.21 13.21 1.71
Q4 2011 13.86 13.86 1.79
Q1 2012 13.52 13.52 2.09
Q2 2012 9.96 9.96 1.68
Q3 2012 10.11 10.11 1.85
Q4 2012 9.77 9.77 2.07
Q1 2013 9.51 9.51 2.00
Q2 2013 11.91 11.91 2.57
Q3 2013 13.16 13.48 2.65
Q4 2013 12.48 13.57 2.67
Q1 2014 13.47 14.91 2.67
Q2 2014 13.70 15.95 2.68
Q3 2014 16.70 19.10 2.91
Q4 2014 13.52 14.20 2.18
Q1 2015 17.04 17.59 2.45
Q2 2015 18.55 18.07 2.50
Q3 2015 17.83 17.31 2.11
Q4 2015 17.48 17.48 1.96
Q1 2016 13.39 12.26 1.16
Q2 2016 21.12 18.37 1.17
Q3 2016 25.09 20.15 0.85
Q4 2016 43.76 32.35 1.03
Q1 2017 45.42 45.42 0.96
Q2 2017 38.10 38.10 0.85
Q3 2017 39.29 39.29 0.94

Business Segments (Million)

Compared With The
Period Carpets & Rugs and affiliate products Blankets Sector
Q1 2015 286.09 24.83
Q2 2015 295.47 10.54
Q3 2015 229.65 8.47
Q4 2015 214.14 30.14
Q1 2016 212.62 16.49
Q2 2016 201.70 7.87
Q3 2016 132.35 7.56
Q4 2016 148.75 13.47
Q1 2017 156.81 9.81
Q2 2017 175.48 6.77
Q3 2017 85.82 12.22


Financial Ratios
Current
Market Cap (M Riyal) 1,472.25
Enterprise Value (EV) (M) 1,652.60
Shares Outstanding ((M)) 81.25
EPS ( Riyal) (TTM) (0.92)
Book Value (BV) ( Riyal) 14.78
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 1.23
Return on Average Assets (%) (TTM) (4.72 )
Return on Average Equity (%) (TTM) (6.02 )
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