Aseer profit rises twofold in H1 2019

06/08/2019 Argaam Exclusive

Aseer Trading, Tourism and Manufacturing Co. posted a net profit after zakat and tax of SAR 23.9 million for H1 2019, an over twofold increase year-on-year (YoY) driven by a decline in selling and administrative costs, zakat expenses and losses from discontinued operations.

 

The company also cited a rise in other income.



Financials (M)

Item 6m 2018 6m 2019 Change‬
Revenues 873.97 886.43 1.4 %
Gross Income 256.85 248.51 (3.2 %)
Operating Income 52.16 37.24 (28.6 %)
Net Income 9.72 23.89 145.7 %
Average Shares 126.39 126.39 -
EPS (Riyals) 0.08 0.19 145.7 %

In Q2 2019, Aseer swung to a net profit after zakat and tax of SAR 18.6 million versus a net loss of SAR 2 million a year earlier backed by higher other income and lower expenses. 

 

When compared to the previous quarter, net profit surged from SAR 5.3 million due to a rise in other income and lower income tax. 



Current Quarter Comparison (M)

Compared With The
Item Q2 2018 Q2 2019 Change‬
Revenues 424.80 414.56 (2.4 %)
Gross Income 122.74 113.15 (7.8 %)
Operating Income 18.38 7.60 (58.7 %)
Net Income (2.02) 18.61 1021.0 %
Average Shares 126.39 126.39 -
EPS (Riyals) (0.02) 0.15 1021.0 %

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Share Price

Sinad Holding Co.
14.18
0.10 0.71 %

Sinad Holding Co. (SINAD HOLDING)

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Financial Ratios
Current
Market Cap (M Riyal) 1,792.19
Enterprise Value (EV) (M) 2,610.80
Shares Outstanding ((M)) 126.39
EPS ( Riyal) (TTM) (0.47)
Book Value (BV) ( Riyal) 8.48
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 1.67
Return on Average Assets (%) (TTM) (2.22 )
Return on Average Equity (%) (TTM) (5.43 )
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Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2010 491.37 11.7 % 135.70 24.3 % 41.84 68.2 %
Q2 2010 492.03 12.3 % 150.32 16.8 % 48.67 24.6 %
Q3 2010 442.40 15.1 % 133.16 21.4 % 37.51 24.4 %
Q4 2010 502.15 11.4 % 145.57 12.9 % 39.10 56.6 %
Q1 2011 480.90 (2.1 %) 135.78 0.1 % 35.85 (14.3 %)
Q2 2011 523.09 6.3 % 149.94 (0.3 %) 41.87 (14.0 %)
Q3 2011 494.99 11.9 % 130.29 (2.2 %) 33.86 (9.7 %)
Q4 2011 505.24 0.6 % 154.29 6.0 % 30.11 (23.0 %)
Q1 2012 522.07 8.6 % 150.73 11.0 % 38.28 6.8 %
Q2 2012 532.01 1.7 % 160.59 7.1 % 48.97 17.0 %
Q3 2012 536.54 8.4 % 157.11 20.6 % 49.62 46.5 %
Q4 2012 530.27 5.0 % 169.41 9.8 % 47.75 58.6 %
Q1 2013 576.88 10.5 % 186.60 23.8 % 56.55 47.8 %
Q2 2013 577.62 8.6 % 176.47 9.9 % 53.65 9.6 %
Q3 2013 561.28 4.6 % 157.30 0.1 % 43.34 (12.7 %)
Q4 2013 571.16 7.7 % 163.70 (3.4 %) 48.15 0.8 %
Q1 2014 601.46 4.3 % 185.05 (0.8 %) 43.97 (22.2 %)
Q2 2014 624.98 8.2 % 187.07 6.0 % 52.87 (1.5 %)
Q3 2014 607.08 8.2 % 173.79 10.5 % 46.37 7.0 %
Q4 2014 604.72 5.9 % 193.67 18.3 % 51.36 6.7 %
Q1 2015 593.14 (1.4 %) 183.85 (0.6 %) 48.76 10.9 %
Q2 2015 580.59 (7.1 %) 181.00 (3.2 %) 48.92 (7.5 %)
Q3 2015 553.97 (8.7 %) 178.11 2.5 % 45.63 (1.6 %)
Q4 2015 444.00 (26.6 %) 165.73 (14.4 %) 46.18 (10.1 %)
Q1 2016 555.73 (6.3 %) 182.18 (0.9 %) 45.96 (5.7 %)
Q2 2016 502.82 (13.4 %) 161.28 (10.9 %) 25.84 (47.2 %)
Q3 2016 519.22 (6.3 %) 162.50 (8.8 %) 20.20 (55.7 %)
Q4 2016 506.19 14.0 % 162.02 (2.2 %) 24.96 (46.0 %)
Q1 2017 456.77 (17.8 %) 154.71 (15.1 %) 37.42 (18.6 %)
Q2 2017 428.66 (14.7 %) 130.15 (19.3 %) 12.60 (51.3 %)
Q3 2017 503.24 (3.1 %) 161.51 (0.6 %) 45.93 127.4 %
Q4 2017 499.16 (1.4 %) 169.55 4.6 % 41.24 65.2 %
Q1 2018 449.18 (1.7 %) 134.10 (13.3 %) 33.79 (9.7 %)
Q2 2018 424.80 (0.9 %) 122.74 (5.7 %) 18.38 45.9 %
Q3 2018 483.73 (3.9 %) 151.85 (6.0 %) 48.52 5.6 %
Q4 2018 449.88 (9.9 %) 129.99 (23.3 %) 22.45 (45.6 %)
Q1 2019 471.87 5.1 % 135.36 0.9 % 29.65 (12.3 %)
Q2 2019 414.56 (2.4 %) 113.15 (7.8 %) 7.60 (58.7 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2010 20.38 58.2 % 0.16 - 20.38 0.16
Q2 2010 25.57 20.8 % 0.20 - 25.57 0.20
Q3 2010 15.10 (0.2 %) 0.12 - 15.10 0.12
Q4 2010 23.80 (22.2 %) 0.19 - 23.80 0.19
Q1 2011 24.68 21.1 % 0.20 - 24.68 0.20
Q2 2011 30.57 19.6 % 0.24 - 30.57 0.24
Q3 2011 20.25 34.1 % 0.16 - 20.25 0.16
Q4 2011 23.28 (2.2 %) 0.18 - 23.28 0.18
Q1 2012 29.99 21.5 % 0.24 - 29.99 0.24
Q2 2012 22.13 (27.6 %) 0.18 - 22.13 0.18
Q3 2012 25.10 23.9 % 0.20 - 25.10 0.20
Q4 2012 33.85 45.4 % 0.27 - 33.85 0.27
Q1 2013 33.39 11.3 % 0.26 - 33.39 0.26
Q2 2013 29.14 31.6 % 0.23 - 29.14 0.23
Q3 2013 28.87 15.0 % 0.23 - 28.87 0.23
Q4 2013 40.57 19.9 % 0.32 - 40.57 0.32
Q1 2014 52.73 57.9 % 0.42 - 52.73 0.42
Q2 2014 64.37 120.9 % 0.51 - 64.37 0.51
Q3 2014 32.92 14.0 % 0.26 - 32.92 0.26
Q4 2014 36.24 (10.7 %) 0.29 (25.00) 61.24 0.48
Q1 2015 60.46 14.7 % 0.48 3.44 57.02 0.45
Q2 2015 64.87 0.8 % 0.51 5.70 59.17 0.47
Q3 2015 22.47 (31.7 %) 0.18 6.24 16.23 0.13
Q4 2015 12.54 (65.4 %) 0.10 (22.68) 35.21 0.28
Q1 2016 (50.65) (183.8 %) (0.40) (37.45) (13.20) (0.10)
Q2 2016 15.60 (75.9 %) 0.12 - 15.60 0.12
Q3 2016 (48.10) (314.1 %) (0.38) (26.85) (21.25) (0.17)
Q4 2016 (79.15) (731.4 %) (0.63) (128.58) 49.43 0.39
Q1 2017 20.69 140.9 % 0.16 - 20.69 0.16
Q2 2017 3.67 (76.5 %) 0.03 - 3.67 0.03
Q3 2017 4.38 109.1 % 0.03 - 4.38 0.03
Q4 2017 (352.75) (345.7 %) (2.79) (308.75) (44.00) (0.35)
Q1 2018 11.74 (43.2 %) 0.09 - 11.74 0.09
Q2 2018 (2.02) (155.1 %) (0.02) - (2.02) (0.02)
Q3 2018 (4.46) (201.8 %) (0.04) - (4.46) (0.04)
Q4 2018 (109.49) 69.0 % (0.87) - (109.49) (0.87)
Q1 2019 5.28 (55.0 %) 0.04 3.20 2.08 0.02
Q2 2019 18.61 1021.0 % 0.15 38.20 (19.60) (0.16)

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2010 28.51 % 10.72 % 4.95 %
Q2 2010 28.86 % 10.93 % 5.04 %
Q3 2010 29.21 % 11.01 % 4.88 %
Q4 2010 29.29 % 11.52 % 4.40 %
Q1 2011 29.46 % 11.31 % 4.65 %
Q2 2011 28.97 % 10.77 % 4.83 %
Q3 2011 28.06 % 10.32 % 4.96 %
Q4 2011 28.45 % 9.83 % 4.93 %
Q1 2012 28.61 % 9.75 % 5.09 %
Q2 2012 29.01 % 10.19 % 4.66 %
Q3 2012 29.71 % 10.87 % 4.80 %
Q4 2012 30.07 % 11.68 % 5.24 %
Q1 2013 30.96 % 12.33 % 5.26 %
Q2 2013 31.04 % 12.37 % 5.47 %
Q3 2013 30.71 % 11.85 % 5.58 %
Q4 2013 29.91 % 11.74 % 5.77 %
Q1 2014 29.53 % 11.22 % 6.55 %
Q2 2014 29.38 % 10.99 % 7.91 %
Q3 2014 29.51 % 11.11 % 7.93 %
Q4 2014 30.33 % 11.16 % 8.66 %
Q1 2015 30.39 % 11.42 % 8.87 %
Q2 2015 30.70 % 11.52 % 8.82 %
Q3 2015 31.58 % 11.78 % 8.30 %
Q4 2015 32.63 % 12.07 % 7.72 %
Q1 2016 33.13 % 12.07 % 4.56 %
Q2 2016 33.42 % 11.43 % 2.62 %
Q3 2016 33.22 % 10.53 % 0.81 %
Q4 2016 32.05 % 9.63 % 1.47 %
Q1 2017 32.27 % 9.85 % 3.25 %
Q2 2017 31.89 % 9.55 % 2.75 %
Q3 2017 32.11 % 10.89 % 4.13 %
Q4 2017 32.63 % 11.86 % (0.81 %)
Q1 2018 31.66 % 11.71 % (1.29 %)
Q2 2018 31.33 % 12.09 % (1.59 %)
Q3 2018 31.14 % 12.30 % (2.09 %)
Q4 2018 29.80 % 11.55 % (5.77 %)
Q1 2019 29.50 % 11.19 % (6.22 %)
Q2 2019 29.14 % 10.66 % (7.22 %)