Saudi Cement posts higher net profit at SAR 1124mln at the end of 2013

31/12/2013 Argaam Exclusive

Saudi Cement Company, the largest Cement Company in the Kingdom, reported SAR 1124mln net profit at the end of 2013, a 2% increase compared to last year.

Financials (M)

Item 2012 2013 Change‬
Revenues 2,203.45 2,187.26 (0.7 %)
Gross Income 1,229.21 1,284.26 4.5 %
Operating Income 1,142.06 1,186.38 3.9 %
Net Income 1,101.79 1,123.80 2.0 %
Average Shares 153.00 153.00 -
EPS (Riyals) 7.20 7.35 2.0 %

Current Quarter Comparison (M)

Compared With The
Item Q4 2012 Q4 2013 Change‬
Revenues 539.99 492.95 (8.7 %)
Gross Income 322.00 309.75 (3.8 %)
Operating Income 300.09 281.63 (6.2 %)
Net Income 276.54 247.30 (10.6 %)
Average Shares 153.00 153.00 -
EPS (Riyals) 1.81 1.62 (10.6 %)

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Share Price

Saudi Cement Company
52.00
(0.20) (0.38 %)

Saudi Cement Company (Saudi Cement)

Financial Ratios
Current
Market Cap (M Riyal) 7,956.00
Enterprise Value (EV) (M) 8,412.25
Shares Outstanding ((M)) 153.00
EPS ( Riyal) (TTM) 2.90
Book Value (BV) ( Riyal) 13.10
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 18.28
P/E (TTM) 17.91
Price/book 3.97
Return on Average Assets (%) (TTM) 13.4
Return on Average Equity (%) (TTM) 21.8
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Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS (Riyal)
Q1 2004 234.93 12.6 % 115.30 11.0 % 95.13 5.1 % 0.62
Q2 2004 245.09 8.7 % 119.46 8.1 % 104.94 11.1 % 0.69
Q3 2004 241.01 10.4 % 125.51 12.7 % 113.19 (7.6 %) 0.74
Q4 2004 219.43 - 109.33 (0.3 %) 124.24 30.6 % 0.81
Q1 2005 253.85 8.1 % 130.80 13.4 % 128.07 34.6 % 0.84
Q2 2005 276.44 12.8 % 141.56 18.5 % 138.15 31.7 % 0.90
Q3 2005 296.10 22.9 % 134.56 7.2 % 128.78 13.8 % 0.84
Q4 2005 289.95 32.1 % 121.85 11.5 % 89.29 (28.1 %) 0.58
Q1 2006 293.03 15.4 % 162.87 24.5 % 152.64 19.2 % 1.00
Q2 2006 325.97 17.9 % 183.72 29.8 % 174.99 26.7 % 1.14
Q3 2006 297.11 0.3 % 169.37 25.9 % 155.49 20.7 % 1.02
Q4 2006 284.13 (2.0 %) 160.07 31.4 % 154.64 73.2 % 1.01
Q1 2007 341.45 16.5 % 182.42 12.0 % 169.00 10.7 % 1.10
Q2 2007 348.71 7.0 % 200.11 8.9 % 189.47 8.3 % 1.24
Q3 2007 338.30 13.9 % 176.46 4.2 % 159.43 2.5 % 1.04
Q4 2007 333.49 17.4 % 187.99 17.4 % 168.49 9.0 % 1.10
Q1 2008 342.69 0.4 % 190.29 4.3 % 173.30 2.5 % 1.13
Q2 2008 350.17 0.4 % 188.73 (5.7 %) 171.59 (9.4 %) 1.12
Q3 2008 325.22 (3.9 %) 174.45 (1.1 %) 144.73 (9.2 %) 0.95
Q4 2008 241.54 (27.6 %) 151.15 (19.6 %) 131.70 (21.8 %) 0.86
Q1 2009 350.67 2.3 % 182.93 (3.9 %) 152.00 (12.3 %) 0.99
Q2 2009 357.18 2.0 % 180.97 (4.1 %) 167.66 (2.3 %) 1.10
Q3 2009 307.74 (5.4 %) 148.14 (15.1 %) 123.14 (14.9 %) 0.80
Q4 2009 330.29 36.7 % 167.49 10.8 % 139.59 6.0 % 0.91
Q1 2010 410.89 17.2 % 205.89 12.5 % 176.58 16.2 % 1.15
Q2 2010 420.42 17.7 % 219.99 21.6 % 190.62 13.7 % 1.25
Q3 2010 327.10 6.3 % 163.93 10.7 % 140.28 13.9 % 0.92
Q4 2010 367.74 11.3 % 179.09 6.9 % 152.04 8.9 % 0.99
Q1 2011 423.13 3.0 % 243.65 18.3 % 210.85 19.4 % 1.38
Q2 2011 462.98 10.1 % 243.45 10.7 % 213.76 12.1 % 1.40
Q3 2011 387.26 18.4 % 224.21 36.8 % 195.26 39.2 % 1.28
Q4 2011 442.73 20.4 % 239.69 33.8 % 211.37 39.0 % 1.38
Q1 2012 639.29 51.1 % 352.60 44.7 % 325.56 54.4 % 2.13
Q2 2012 591.03 27.7 % 316.21 29.9 % 290.24 35.8 % 1.90
Q3 2012 433.14 11.8 % 238.40 6.3 % 209.45 7.3 % 1.37
Q4 2012 539.99 22.0 % 322.00 34.3 % 276.54 30.8 % 1.81
Q1 2013 612.75 (4.2 %) 374.11 6.1 % 340.30 4.5 % 2.22
Q2 2013 626.42 6.0 % 339.99 7.5 % 307.14 5.8 % 2.01
Q3 2013 455.13 5.1 % 260.41 9.2 % 229.06 9.4 % 1.50
Q4 2013 492.95 (8.7 %) 309.75 (3.8 %) 247.30 (10.6 %) 1.62
2013 2,187.26 (0.7 %) 1,284.26 4.5 % 1,123.80 2.0 % 7.35

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2004 - - -
Q2 2004 - - -
Q3 2004 - - -
Q4 2004 49.93 % 57.69 % 46.52 %
Q1 2005 50.56 % 59.35 % 49.04 %
Q2 2005 51.19 % 60.58 % 50.84 %
Q3 2005 49.36 % 58.95 % 49.65 %
Q4 2005 47.37 % 54.10 % 43.38 %
Q1 2006 48.54 % 54.34 % 44.04 %
Q2 2006 50.04 % 54.72 % 45.28 %
Q3 2006 52.88 % 56.73 % 47.46 %
Q4 2006 56.32 % 62.10 % 53.14 %
Q1 2007 55.71 % 61.92 % 52.39 %
Q2 2007 56.00 % 61.15 % 52.59 %
Q3 2007 54.78 % 59.25 % 51.24 %
Q4 2007 54.85 % 58.25 % 50.40 %
Q1 2008 55.37 % 57.03 % 50.67 %
Q2 2008 54.48 % 56.10 % 49.30 %
Q3 2008 54.86 % 55.84 % 48.69 %
Q4 2008 55.94 % 56.60 % 49.33 %
Q1 2009 55.01 % 57.42 % 47.34 %
Q2 2009 54.10 % 58.91 % 46.77 %
Q3 2009 52.76 % 60.33 % 45.70 %
Q4 2009 50.49 % 60.28 % 43.27 %
Q1 2010 49.96 % 59.64 % 43.17 %
Q2 2010 50.47 % 59.49 % 42.87 %
Q3 2010 50.87 % 59.53 % 43.47 %
Q4 2010 50.38 % 58.59 % 43.22 %
Q1 2011 52.44 % 59.80 % 45.10 %
Q2 2011 52.51 % 59.80 % 45.35 %
Q3 2011 54.26 % 60.47 % 47.04 %
Q4 2011 55.42 % 61.26 % 48.44 %
Q1 2012 54.86 % 60.51 % 48.96 %
Q2 2012 54.98 % 60.04 % 49.62 %
Q3 2012 54.45 % 59.94 % 49.22 %
Q4 2012 55.79 % 60.94 % 50.00 %
Q1 2013 57.45 % 62.67 % 51.29 %
Q2 2013 57.61 % 62.66 % 51.23 %
Q3 2013 58.03 % 62.90 % 51.61 %
Q4 2013 58.72 % 63.38 % 51.38 %
2013 58.72 % 63.38 % 51.38 %

Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS Adjusted EPS Book Value (BV)
Q1 2004 153.00 2.66 2.66 11.08
Q2 2004 153.00 2.73 2.73 11.77
Q3 2004 153.00 2.67 2.67 12.51
Q4 2004 153.00 2.86 2.86 13.32
Q1 2005 153.00 3.07 3.07 11.69
Q2 2005 153.00 3.29 3.29 11.34
Q3 2005 153.00 3.39 3.39 12.13
Q4 2005 153.00 3.17 3.17 12.87
Q1 2006 153.00 3.33 3.33 12.66
Q2 2006 153.00 3.57 3.57 13.80
Q3 2006 153.00 3.74 3.74 14.82
Q4 2006 153.00 4.17 4.17 15.83
Q1 2007 153.00 4.28 4.28 14.52
Q2 2007 153.00 4.37 4.37 15.76
Q3 2007 153.00 4.40 4.40 16.80
Q4 2007 153.00 4.49 4.49 17.90
Q1 2008 153.00 4.51 4.51 15.68
Q2 2008 153.00 4.40 4.40 16.81
Q3 2008 153.00 4.30 4.30 17.75
Q4 2008 153.00 4.06 4.06 18.61
Q1 2009 153.00 3.92 3.92 17.26
Q2 2009 153.00 3.90 3.90 18.35
Q3 2009 153.00 3.75 3.75 19.16
Q4 2009 153.00 3.81 3.81 20.07
Q1 2010 153.00 3.97 3.97 18.88
Q2 2010 153.00 4.12 4.12 20.12
Q3 2010 153.00 4.23 4.23 21.05
Q4 2010 153.00 4.31 4.31 22.03
Q1 2011 153.00 4.53 4.53 23.41
Q2 2011 153.00 4.69 4.69 18.80
Q3 2011 153.00 5.05 5.05 20.07
Q4 2011 153.00 5.43 5.43 21.45
Q1 2012 153.00 6.18 6.18 19.07
Q2 2012 153.00 6.68 6.68 17.46
Q3 2012 153.00 6.78 6.78 18.83
Q4 2012 153.00 7.20 7.20 20.64
Q1 2013 153.00 7.30 7.30 19.35
Q2 2013 153.00 7.41 7.41 17.86
Q3 2013 153.00 7.54 7.54 19.35
Q4 2013 153.00 7.35 7.35 20.97

Multiple Ratios (End of Period Price)