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×Aldrees’ net profit jumps 30% in H1
Aldrees Petroleum and Transport Services Co. reported a net profit of SAR 42.8 million for the first half of 2018, a 30.5 percent year-on-year (YoY) increase on higher sales of petrol division and transport division.
Financials Highlights (M)
| Item | 6m-2017 | 6m -2018 | Change |
|---|---|---|---|
| Revenues | 1,697.26 | 2,575.48 | 51.7 % |
| Gross Income | 90.75 | 132.03 | 45.5 % |
| Operating Income | 39.37 | 76.60 | 94.6 % |
| Net Income | 32.84 | 37.22 | 13.3 % |
| Average Shares | 60.00 | 60.00 | - |
| EPS (Riyal) | 0.55 | 0.62 | 13.3 % |
The firm’s net profit in Q2 slid 0.55 percent YoY to SAR 18.2 million due to higher general and administrative expenses, higher financial expenses and lower other income.
On a sequential basis, Q2 net profit fell by 26 percent compared to the previous quarter on higher costs, higher financial expenses and lower other income.
Historical Performance (M)
| Period | Revenues | Gross Income | Net Income | EPS (Riyal) | Earnings Growth |
|---|---|---|---|---|---|
| 2018 | 5,176.59 | 212.04 | 83.56 | 1.39 | 29.26 % |
| 2018 - Q4 | 1,312.61 | 53.61 | 21.99 | 0.37 | 61.86 % |
| 2018 - Q3 | 1,288.49 | 60.65 | 16.01 | 0.27 | (12.13 %) |
| 2018 - Q2 | 1,290.31 | 62.88 | 15.12 | 0.25 | (17.18 %) |
| 2018 - Q1 | 1,285.18 | 69.15 | 22.09 | 0.37 | 51.52 % |
Business Segments - Revenues (M)
| Period | Oil services sector | Transport sector | Adjustments | Super Sector 2 |
|---|---|---|---|---|
| 2018 - Q1 | 1,236.02 | 69.53 | (20.38) | - |
| 2018 - Q2 | 1,240.39 | 70.66 | (20.74) | - |
| 2018 - Q3 | 1,235.89 | 71.60 | (19.00) | - |
| 2018 - Q4 | 1,247.46 | 85.15 | (20.00) | - |
| 2018 | 4,959.76 | 296.94 | (80.12) | - |
Average Analysts Estimates
| 2018 - Q2 (e) | 2018 - Q2 (a) | Change | |
| Average | 25.15 | 15.12 | (39.9 %) |
Estimates vs Actual Results
| Company | 2018 - Q2 (e) | 2018 - Q2 (a) | Difference |
| Arbah Capital | 22.00 | 15.12 | 45.5 % |
| OBIC | 28.30 | 15.12 | 87.1 % |
Financials Highlights (M)
Business Segments
Valuation Data (Latest Share Price)
| P/E (TTM) | 40.117 |
| P/E Before Unusual Items (TTM) | 40.117 |
| P/BV | 5.13 |
| Dividend Yield | 2.70 % |
| Market Cap. (M) | 3,438.00 |
| Return on Average Assets | 3.25 % |
| Return on Average Equity | 12.83 % |
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