Middle East Specialized Cables Co. (MESC) reported a net loss of SAR 16.6 million for the first nine months of 2015, narrowing losses by 5.1 percent compared to the same period last year on lower expenses.
| Item | 9m 2014 | 9m 2015 | Change |
|---|---|---|---|
| Revenues | 661.92 | 706.34 | 6.7 % |
| Gross Income | 80.72 | 81.38 | 0.8 % |
| Operating Income | 1.09 | (3.36) | (409.3 %) |
| Net Income | (17.48) | (16.58) | 5.1 % |
| Average Shares | 40.00 | 40.00 | - |
| EPS (Riyals) | (0.44) | (0.41) | 5.1 % |
The company posted a net loss of SAR 3.2 million in Q3-2015; an 84 percent improvement from Q3-2014 which it attributed to higher sales volumes and an increase in profit margins.
| Item | Q3 2014 | Q3 2015 | Change |
|---|---|---|---|
| Revenues | 182.59 | 231.71 | 26.9 % |
| Gross Income | 17.70 | 31.77 | 79.5 % |
| Operating Income | (14.89) | 1.34 | 109.0 % |
| Net Income | (19.83) | (3.17) | 84.0 % |
| Average Shares | 40.00 | 40.00 | - |
| EPS (Riyals) | (0.50) | (0.08) | 84.0 % |
| Item | Q2 2015 | Q3 2015 | Change |
|---|---|---|---|
| Revenues | 216.34 | 231.71 | 7.1 % |
| Gross Income | 19.30 | 31.77 | 64.6 % |
| Operating Income | (7.72) | 1.34 | 117.3 % |
| Net Income | (10.42) | (3.17) | 69.5 % |
| Average Shares | 40.00 | 40.00 | - |
| EPS (Riyals) | (0.26) | (0.08) | 69.5 % |
| Period | Revenues | Change | Gross Income | Change | Net Income | Change | EPS(Riyal) |
|---|---|---|---|---|---|---|---|
| Q1 2006 | - | - | - | - | - | - | - |
| Q2 2006 | - | - | - | - | - | - | - |
| Q3 2006 | - | - | - | - | - | - | - |
| Q4 2006 | - | - | - | - | - | - | - |
| 2006 | 648.07 | 134.3 % | 177.26 | 173.7 % | 84.03 | 121.0 % | 2.71 |
| Q1 2007 | 268.17 | - | 61.98 | - | 34.53 | - | 1.11 |
| Q2 2007 | 273.80 | - | 72.11 | - | 34.87 | - | 1.13 |
| Q3 2007 | 293.12 | - | 76.40 | - | 44.18 | - | 1.43 |
| Q4 2007 | 268.20 | - | 60.87 | - | 36.55 | - | 1.18 |
| 2007 | 1,103.28 | 70.2 % | 271.36 | 53.1 % | 150.13 | 78.7 % | 4.84 |
| Q1 2008 | 357.08 | 33.2 % | 81.84 | 32.0 % | 49.25 | 42.6 % | 1.59 |
| Q2 2008 | 360.99 | 31.8 % | 90.84 | 26.0 % | 51.05 | 46.4 % | 1.65 |
| Q3 2008 | 371.57 | 26.8 % | 76.22 | (0.2 %) | 21.39 | (51.6 %) | 0.69 |
| Q4 2008 | 218.80 | (18.4 %) | 41.85 | (31.2 %) | (33.27) | (191.0 %) | (1.07) |
| 2008 | 1,308.44 | 18.6 % | 290.75 | 7.1 % | 88.42 | (41.1 %) | 2.85 |
| Q1 2009 | 237.97 | (33.4 %) | 49.26 | (39.8 %) | 25.99 | (47.2 %) | 0.84 |
| Q2 2009 | 245.59 | (32.0 %) | 66.17 | (27.2 %) | 30.13 | (41.0 %) | 0.97 |
| Q3 2009 | 231.19 | (37.8 %) | 39.08 | (48.7 %) | 13.23 | (38.1 %) | 0.43 |
| Q4 2009 | 319.17 | 45.9 % | 23.31 | (44.3 %) | (18.03) | 45.8 % | (0.58) |
| 2009 | 1,033.92 | (21.0 %) | 177.83 | (38.8 %) | 51.31 | (42.0 %) | 1.66 |
| Q1 2010 | 288.81 | 21.4 % | 34.67 | (29.6 %) | 3.12 | (88.0 %) | 0.10 |
| Q2 2010 | 272.04 | 10.8 % | 39.88 | (39.7 %) | 4.70 | (84.4 %) | 0.15 |
| Q3 2010 | 232.69 | 0.6 % | 20.90 | (46.5 %) | (3.51) | (126.5 %) | (0.11) |
| Q4 2010 | 235.71 | (26.1 %) | 19.41 | (16.7 %) | (99.26) | (450.4 %) | (3.20) |
| 2010 | 1,029.25 | (0.5 %) | 114.86 | (35.4 %) | (94.95) | (285.0 %) | (3.06) |
| Q1 2011 | 227.36 | (21.3 %) | 11.24 | (67.6 %) | (20.97) | (771.4 %) | (0.68) |
| Q2 2011 | 331.40 | 21.8 % | 24.93 | (37.5 %) | 1.35 | (71.3 %) | 0.04 |
| Q3 2011 | 288.33 | 23.9 % | 33.87 | 62.0 % | (6.52) | (85.8 %) | (0.21) |
| Q4 2011 | 292.30 | 24.0 % | 25.59 | 31.9 % | (93.99) | 5.3 % | (3.03) |
| 2011 | 1,139.39 | 10.7 % | 95.62 | (16.7 %) | (120.14) | (26.5 %) | (3.88) |
| Q1 2012 | 296.38 | 30.4 % | 51.82 | 361.1 % | 10.72 | 151.1 % | 0.35 |
| Q2 2012 | 270.85 | (18.3 %) | 37.48 | 50.4 % | 14.33 | 962.1 % | 0.46 |
| Q3 2012 | 193.87 | (32.8 %) | 40.37 | 19.2 % | 9.22 | 241.3 % | 0.30 |
| Q4 2012 | 229.48 | (21.5 %) | 31.49 | 23.0 % | (3.17) | 96.6 % | (0.10) |
| 2012 | 990.58 | (13.1 %) | 161.16 | 68.5 % | 31.10 | 125.9 % | 1.00 |
| Q1 2013 | 227.41 | (23.3 %) | 46.73 | (9.8 %) | 13.38 | 24.8 % | 0.43 |
| Q2 2013 | 228.05 | (15.8 %) | 31.96 | (14.7 %) | 0.01 | (99.9 %) | 0.00 |
| Q3 2013 | 238.76 | 23.2 % | 33.42 | (17.2 %) | 15.32 | 66.2 % | 0.49 |
| Q4 2013 | 236.51 | 3.1 % | 33.80 | 7.3 % | 1.69 | 153.4 % | 0.04 |
| 2013 | 930.73 | (6.0 %) | 145.90 | (9.5 %) | 30.40 | (2.2 %) | 0.76 |
| Q1 2014 | 209.55 | (7.9 %) | 22.30 | (52.3 %) | (7.83) | (158.6 %) | (0.20) |
| Q2 2014 | 269.78 | 18.3 % | 40.73 | 27.5 % | 10.19 | 72678.6 % | 0.25 |
| Q3 2014 | 182.59 | (23.5 %) | 17.70 | (47.1 %) | (19.83) | (229.5 %) | (0.50) |
| Q4 2014 | 196.55 | (16.9 %) | 25.73 | (23.9 %) | (5.60) | (430.7 %) | (0.14) |
| 2014 | 858.48 | (7.8 %) | 106.45 | (27.0 %) | (23.07) | (175.9 %) | (0.58) |
| Q1 2015 | 258.29 | 23.3 % | 30.32 | 36.0 % | (2.99) | 61.8 % | (0.07) |
| Q2 2015 | 216.34 | (19.8 %) | 19.30 | (52.6 %) | (10.42) | (202.2 %) | (0.26) |
| Q3 2015 | 231.71 | 26.9 % | 31.77 | 79.5 % | (3.17) | 84.0 % | (0.08) |
| Period | Revenues | Change | Gross Income | Change | Net Income | Change | EPS(Riyal) |
|---|---|---|---|---|---|---|---|
| 2005 | 276.54 | 44.3 % | 64.76 | 56.2 % | 38.03 | 90.1 % | 1.23 |
| 2006 | 648.07 | 134.3 % | 177.26 | 173.7 % | 84.03 | 121.0 % | 2.71 |
| 2007 | 1,103.28 | 70.2 % | 271.36 | 53.1 % | 150.13 | 78.7 % | 4.84 |
| 2008 | 1,308.44 | 18.6 % | 290.75 | 7.1 % | 88.42 | (41.1 %) | 2.85 |
| 2009 | 1,033.92 | (21.0 %) | 177.83 | (38.8 %) | 51.31 | (42.0 %) | 1.66 |
| 2010 | 1,029.25 | (0.5 %) | 114.86 | (35.4 %) | (94.95) | (285.0 %) | (3.06) |
| 2011 | 1,139.39 | 10.7 % | 95.62 | (16.7 %) | (120.14) | (26.5 %) | (3.88) |
| 2012 | 990.58 | (13.1 %) | 161.16 | 68.5 % | 31.10 | 125.9 % | 1.00 |
| 2013 | 930.73 | (6.0 %) | 145.90 | (9.5 %) | 30.40 | (2.2 %) | 0.76 |
| 2014 | 858.48 | (7.8 %) | 106.45 | (27.0 %) | (23.07) | (175.9 %) | (0.58) |
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| Q1 2006 | - | - | - |
| Q2 2006 | - | - | - |
| Q3 2006 | - | - | - |
| Q4 2006 | - | - | - |
| 2006 | 27.35 % | 22.86 % | 12.97 % |
| Q1 2007 | - | - | - |
| Q2 2007 | - | - | - |
| Q3 2007 | - | - | - |
| Q4 2007 | 24.60 % | 21.06 % | 13.61 % |
| 2007 | 24.60 % | 21.06 % | 13.61 % |
| Q1 2008 | 24.43 % | 20.72 % | 13.83 % |
| Q2 2008 | 24.23 % | 20.75 % | 14.15 % |
| Q3 2008 | 22.81 % | 17.72 % | 11.65 % |
| Q4 2008 | 22.22 % | 18.31 % | 6.76 % |
| 2008 | 22.22 % | 18.31 % | 6.76 % |
| Q1 2009 | 21.71 % | 17.89 % | 5.48 % |
| Q2 2009 | 21.74 % | 18.58 % | 4.12 % |
| Q3 2009 | 21.03 % | 20.45 % | 3.86 % |
| Q4 2009 | 17.20 % | 14.70 % | 4.96 % |
| 2009 | 17.20 % | 14.70 % | 4.96 % |
| Q1 2010 | 15.05 % | 11.90 % | 2.62 % |
| Q2 2010 | 12.32 % | 7.95 % | 0.27 % |
| Q3 2010 | 10.67 % | 5.86 % | (1.23 %) |
| Q4 2010 | 11.16 % | 4.89 % | (1.74 %) |
| 2010 | 11.16 % | 4.89 % | (1.74 %) |
| Q1 2011 | 9.45 % | 2.90 % | (4.34 %) |
| Q2 2011 | 7.45 % | 1.59 % | (4.42 %) |
| Q3 2011 | 8.26 % | 2.60 % | (4.47 %) |
| Q4 2011 | 8.39 % | 2.69 % | (4.35 %) |
| 2011 | 8.39 % | 2.69 % | (4.35 %) |
| Q1 2012 | 11.27 % | 5.74 % | (1.48 %) |
| Q2 2012 | 12.96 % | 7.29 % | (0.43 %) |
| Q3 2012 | 14.74 % | 8.34 % | 1.03 % |
| Q4 2012 | 16.27 % | 10.03 % | 3.14 % |
| 2012 | 16.27 % | 10.03 % | 3.14 % |
| Q1 2013 | 16.93 % | 10.35 % | 3.66 % |
| Q2 2013 | 17.13 % | 10.00 % | 2.21 % |
| Q3 2013 | 15.54 % | 9.11 % | 2.77 % |
| Q4 2013 | 15.68 % | 10.17 % | 1.90 % |
| 2013 | 15.68 % | 10.17 % | 1.90 % |
| Q1 2014 | 13.31 % | 7.84 % | (0.39 %) |
| Q2 2014 | 13.64 % | 8.53 % | 0.70 % |
| Q3 2014 | 12.75 % | 6.14 % | (3.17 %) |
| Q4 2014 | 12.40 % | 5.17 % | (2.69 %) |
| 2014 | 12.40 % | 5.17 % | (2.69 %) |
| Q1 2015 | 12.62 % | 5.34 % | (2.01 %) |
| Q2 2015 | 10.90 % | 2.81 % | (4.55 %) |
| Q3 2015 | 11.86 % | 4.29 % | (2.46 %) |
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| 2005 | 23.42 % | 17.95 % | 13.75 % |
| 2006 | 27.35 % | 22.86 % | 12.97 % |
| 2007 | 24.60 % | 21.06 % | 13.61 % |
| 2008 | 22.22 % | 18.31 % | 6.76 % |
| 2009 | 17.20 % | 14.70 % | 4.96 % |
| 2010 | 11.16 % | 4.89 % | (1.74 %) |
| 2011 | 8.39 % | 2.69 % | (4.35 %) |
| 2012 | 16.27 % | 10.03 % | 3.14 % |
| 2013 | 15.68 % | 10.17 % | 1.90 % |
| 2014 | 12.40 % | 5.17 % | (2.69 %) |
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| Q1 2006 | - | - | - |
| Q2 2006 | - | - | - |
| Q3 2006 | - | - | - |
| Q4 2006 | - | - | - |
| Q1 2007 | 23.11 % | 20.42 % | 12.87 % |
| Q2 2007 | 26.34 % | 21.75 % | 12.74 % |
| Q3 2007 | 26.06 % | 22.73 % | 15.07 % |
| Q4 2007 | 22.69 % | 19.17 % | 13.63 % |
| Q1 2008 | 22.92 % | 19.45 % | 13.79 % |
| Q2 2008 | 25.16 % | 21.58 % | 14.14 % |
| Q3 2008 | 20.51 % | 11.24 % | 5.76 % |
| Q4 2008 | 19.13 % | 23.03 % | (15.20 %) |
| Q1 2009 | 20.70 % | 17.94 % | 10.92 % |
| Q2 2009 | 26.95 % | 26.36 % | 12.27 % |
| Q3 2009 | 16.90 % | 14.32 % | 5.72 % |
| Q4 2009 | 7.30 % | 3.58 % | (5.65 %) |
| Q1 2010 | 12.00 % | 6.86 % | 1.08 % |
| Q2 2010 | 14.66 % | 8.80 % | 1.73 % |
| Q3 2010 | 8.98 % | 4.32 % | (1.51 %) |
| Q4 2010 | 8.23 % | (1.50 %) | (9.45 %) |
| Q1 2011 | 4.94 % | (1.04 %) | (9.23 %) |
| Q2 2011 | 7.52 % | 3.69 % | 0.41 % |
| Q3 2011 | 11.75 % | 7.56 % | (2.26 %) |
| Q4 2011 | 8.76 % | (0.33 %) | (8.01 %) |
| Q1 2012 | 17.48 % | 12.27 % | 3.62 % |
| Q2 2012 | 13.84 % | 9.78 % | 5.29 % |
| Q3 2012 | 20.82 % | 13.39 % | 4.75 % |
| Q4 2012 | 13.72 % | 4.61 % | (1.38 %) |
| Q1 2013 | 20.55 % | 14.22 % | 5.88 % |
| Q2 2013 | 14.01 % | 8.34 % | 0.01 % |
| Q3 2013 | 14.00 % | 9.29 % | 6.42 % |
| Q4 2013 | 14.29 % | 8.91 % | (4.66 %) |
| Q1 2014 | 10.64 % | 4.44 % | (3.74 %) |
| Q2 2014 | 15.10 % | 10.69 % | 3.78 % |
| Q3 2014 | 9.69 % | (2.20 %) | (10.86 %) |
| Q4 2014 | 13.09 % | 5.23 % | (2.85 %) |
| Q1 2015 | 11.74 % | 5.17 % | (1.16 %) |
| Q2 2015 | 8.92 % | 2.01 % | (4.81 %) |
| Q3 2015 | 13.71 % | 4.63 % | (1.37 %) |
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| Q1 2006 | - | - | - | - |
| Q2 2006 | - | - | - | - |
| Q3 2006 | - | - | - | - |
| Q4 2006 | - | - | - | - |
| Q1 2007 | 30.99 | - | - | 11.60 |
| Q2 2007 | 30.99 | - | - | 12.72 |
| Q3 2007 | 30.99 | - | - | 12.83 |
| Q4 2007 | 30.99 | 4.84 | 4.84 | 14.02 |
| Q1 2008 | 30.99 | 5.32 | 5.32 | 15.62 |
| Q2 2008 | 30.99 | 5.84 | 5.84 | 17.27 |
| Q3 2008 | 30.99 | 5.11 | 5.11 | 17.44 |
| Q4 2008 | 30.99 | 2.85 | 2.85 | 16.35 |
| Q1 2009 | 30.99 | 2.10 | 2.10 | 15.58 |
| Q2 2009 | 30.99 | 1.43 | 1.43 | 16.54 |
| Q3 2009 | 30.99 | 1.16 | 1.16 | 16.95 |
| Q4 2009 | 30.99 | 1.66 | 1.66 | 16.27 |
| Q1 2010 | 30.99 | 0.92 | 0.92 | 15.08 |
| Q2 2010 | 30.99 | 0.10 | 0.10 | 15.41 |
| Q3 2010 | 30.99 | (0.44) | (0.44) | 15.03 |
| Q4 2010 | 30.99 | (3.06) | (0.58) | 11.85 |
| Q1 2011 | 30.99 | (3.84) | (1.36) | 11.26 |
| Q2 2011 | 30.99 | (3.95) | (1.46) | 11.44 |
| Q3 2011 | 30.99 | (4.05) | (1.56) | 10.41 |
| Q4 2011 | 30.99 | (3.88) | (1.60) | 7.83 |
| Q1 2012 | 30.99 | (2.85) | (0.58) | 8.43 |
| Q2 2012 | 30.99 | (2.43) | (0.16) | 8.89 |
| Q3 2012 | 30.99 | (1.93) | 0.35 | 9.19 |
| Q4 2012 | 30.99 | 1.00 | 1.00 | 9.08 |
| Q1 2013 | 30.99 | 1.09 | 1.09 | 9.52 |
| Q2 2013 | 30.99 | 0.63 | 0.63 | 9.52 |
| Q3 2013 | 30.99 | 0.82 | 0.82 | 10.02 |
| Q4 2013 | 40.00 | 0.76 | 0.44 | 12.60 |
| Q1 2014 | 40.00 | 0.23 | (0.09) | 12.42 |
| Q2 2014 | 40.00 | 0.48 | 0.17 | 12.67 |
| Q3 2014 | 40.00 | (0.39) | (0.71) | 12.17 |
| Q4 2014 | 40.00 | (0.58) | (0.58) | 12.02 |
| Q1 2015 | 40.00 | (0.46) | (0.46) | 11.95 |
| Q2 2015 | 40.00 | (0.97) | (0.97) | 11.68 |
| Q3 2015 | 40.00 | (0.55) | (0.55) | 11.60 |
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| 2005 | 30.99 | 1.23 | 1.23 | 3.66 |
| 2006 | 30.99 | 2.71 | 2.71 | 10.46 |
| 2007 | 30.99 | 4.84 | 4.84 | 14.02 |
| 2008 | 30.99 | 2.85 | 2.85 | 16.35 |
| 2009 | 30.99 | 1.66 | 1.66 | 16.27 |
| 2010 | 30.99 | (3.06) | (0.58) | 11.85 |
| 2011 | 30.99 | (3.88) | (1.60) | 7.83 |
| 2012 | 30.99 | 1.00 | 1.00 | 9.08 |
| 2013 | 40.00 | 0.76 | 0.44 | 12.60 |
| 2014 | 40.00 | (0.58) | (0.58) | 12.02 |
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| Q1 2006 | - | - | - |
| Q2 2006 | - | - | - |
| Q3 2006 | - | - | - |
| Q4 2006 | - | - | - |
| Q1 2007 | - | - | - |
| Q2 2007 | - | - | - |
| Q3 2007 | - | - | - |
| Q4 2007 | 23.04 | 23.04 | 7.96 |
| Q1 2008 | 22.11 | 22.11 | 7.53 |
| Q2 2008 | 30.80 | 30.80 | 10.42 |
| Q3 2008 | 27.40 | 27.40 | 8.03 |
| Q4 2008 | 21.66 | 21.66 | 3.78 |
| Q1 2009 | 22.10 | 22.10 | 2.98 |
| Q2 2009 | 49.25 | 49.25 | 4.25 |
| Q3 2009 | More than 50 | More than 50 | 4.23 |
| Q4 2009 | 35.41 | 35.41 | 3.60 |
| Q1 2010 | More than 50 | More than 50 | 3.53 |
| Q2 2010 | More than 50 | More than 50 | 2.20 |
| Q3 2010 | NEG | NEG | 2.06 |
| Q4 2010 | NEG | NEG | 2.58 |
| Q1 2011 | NEG | NEG | 2.41 |
| Q2 2011 | NEG | NEG | 2.49 |
| Q3 2011 | NEG | NEG | 2.43 |
| Q4 2011 | NEG | NEG | 3.45 |
| Q1 2012 | NEG | NEG | 4.36 |
| Q2 2012 | NEG | NEG | 3.37 |
| Q3 2012 | NEG | More than 50 | 4.06 |
| Q4 2012 | 29.79 | 29.79 | 3.29 |
| Q1 2013 | 28.30 | 28.30 | 3.24 |
| Q2 2013 | More than 50 | More than 50 | 3.36 |
| Q3 2013 | 31.71 | 31.71 | 2.61 |
| Q4 2013 | 27.14 | 46.68 | 1.64 |
| Q1 2014 | More than 50 | NEG | 1.79 |
| Q2 2014 | 47.09 | More than 50 | 1.80 |
| Q3 2014 | NEG | NEG | 2.35 |
| Q4 2014 | NEG | NEG | 2.73 |
| Q1 2015 | NEG | NEG | 1.95 |
| Q2 2015 | NEG | NEG | 1.73 |
| Q3 2015 | NEG | NEG | 1.25 |
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| 2005 | - | - | - |
| 2006 | - | - | - |
| 2007 | 23.04 | 23.04 | 7.96 |
| 2008 | 21.66 | 21.66 | 3.78 |
| 2009 | 35.41 | 35.41 | 3.60 |
| 2010 | NEG | NEG | 2.58 |
| 2011 | NEG | NEG | 3.45 |
| 2012 | 29.79 | 29.79 | 3.29 |
| 2013 | 27.14 | 46.68 | 1.64 |
| 2014 | NEG | NEG | 2.73 |
| Current | |
| Market Cap (M Riyal) | 1,344.00 |
| Enterprise Value (EV) (M) | 1,325.50 |
| Shares Outstanding ((M)) | 40.00 |
| EPS ( Riyal) (TTM) | 1.56 |
| Book Value (BV) ( Riyal) | 10.09 |
| Par Value ( Riyal) | 10.00 |
| Adjusted P/E (Last12) | 21.50 |
| P/E (TTM) | 21.50 |
| Price/book | 3.33 |
| Return on Average Assets (%) (TTM) | 8.2 |
| Return on Average Equity (%) (TTM) | 16.8 |
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