Shams’ net profit drops 58% to SAR 2 mln in 2015

17/01/2016 Argaam Exclusive

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Tourism Enterprise Co. (Shams) reported an estimated net profit of SAR 2 million for the 2015 fiscal year, a drop of 58.41 percent against the previous year, due to shutdowns due to maintenance and modernization works.

Financials (M)

Item	2014	2015	Change‬
Revenues	22.56	20.90	(7.3 %)
Gross Income	16.24	14.03	(13.6 %)
Operating Income	5.33	2.02	(62.0 %)
Net Income	4.83	2.01	(58.4 %)
Average Shares	677.40	677.40	-
EPS (Halala)	0.71	0.30	(58.4 %)

The company swung to net loss in Q4-2015 of SAR 2.45 million, against a profit of SAR 449,615 in the same period in 2014. Shams had also reported a profit of SAR 2.19 million in Q3-2015.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2014	Q4 2015	Change‬
Revenues	4.70	3.38	(28.0 %)
Gross Income	3.31	0.58	(82.4 %)
Operating Income	0.41	(3.03)	(832.4 %)
Net Income	0.45	(2.45)	(643.5 %)
Average Shares	677.40	677.40	-
EPS (Halala)	0.07	(0.36)	(643.5 %)

Item	Q3 2015	Q4 2015	Change‬
Revenues	7.04	3.38	(52.0 %)
Gross Income	5.13	0.58	(88.6 %)
Operating Income	2.40	(3.03)	(225.9 %)
Net Income	2.19	(2.45)	(211.8 %)
Average Shares	677.40	677.40	-
EPS (Halala)	0.32	(0.36)	(211.8 %)

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Halala)
Q1 2006	1.83	(10.7 %)	1.02	66.0 %	(1.23)	(2184.7 %)	(0.18)
Q2 2006	2.89	11.0 %	2.07	(22.3 %)	(2.04)	(0.8 %)	(0.30)
Q3 2006	3.51	26.6 %	2.06	19.5 %	(0.26)	(115.1 %)	(0.04)
Q4 2006	2.22	5.5 %	0.70	(16.8 %)	(4.88)	(522.2 %)	(0.72)
2006	10.45	9.6 %	5.85	0.1 %	(8.41)	(710.8 %)	(1.24)
Q1 2007	2.74	49.6 %	1.88	84.6 %	0.48	139.0 %	0.07
Q2 2007	2.92	1.1 %	1.60	(22.6 %)	0.14	106.8 %	0.02
Q3 2007	4.07	16.1 %	2.87	39.6 %	1.05	507.4 %	0.16
Q4 2007	3.78	70.3 %	2.28	224.9 %	0.45	109.2 %	0.07
2007	13.51	29.4 %	8.63	47.7 %	2.12	125.2 %	0.31
Q1 2008	3.00	9.7 %	1.60	(15.2 %)	(0.24)	(149.0 %)	(0.03)
Q2 2008	3.88	32.8 %	2.21	38.1 %	0.78	468.1 %	0.12
Q3 2008	3.94	(3.3 %)	1.73	(39.5 %)	0.90	(14.2 %)	0.13
Q4 2008	3.86	2.0 %	1.88	(17.7 %)	(1.27)	(383.5 %)	(0.19)
2008	14.68	8.6 %	7.42	(14.1 %)	0.18	(91.6 %)	0.03
Q1 2009	4.12	37.2 %	2.28	42.6 %	0.11	146.8 %	0.02
Q2 2009	3.85	(0.6 %)	2.18	(1.4 %)	(0.06)	(107.3 %)	(0.01)
Q3 2009	3.78	(4.1 %)	1.80	3.9 %	(0.43)	(148.0 %)	(0.06)
Q4 2009	2.12	(45.1 %)	(1.26)	(166.9 %)	(3.02)	(137.2 %)	(0.45)
2009	13.86	(5.5 %)	5.00	(32.6 %)	(3.40)	(2009.0 %)	(0.50)
Q1 2010	2.67	(35.1 %)	1.68	(26.0 %)	0.04	(64.5 %)	0.01
Q2 2010	3.78	(1.8 %)	2.71	24.0 %	0.51	1001.8 %	0.08
Q3 2010	4.97	31.7 %	3.47	92.9 %	1.14	364.0 %	0.17
Q4 2010	3.46	63.2 %	2.04	262.4 %	(0.10)	96.6 %	(0.02)
2010	14.89	7.4 %	9.91	98.0 %	1.59	146.9 %	0.24
Q1 2011	2.71	1.4 %	2.11	25.4 %	0.09	120.5 %	0.01
Q2 2011	4.83	27.6 %	3.47	28.1 %	1.05	104.1 %	0.15
Q3 2011	5.70	14.7 %	3.83	10.1 %	1.85	61.4 %	0.27
Q4 2011	4.37	26.4 %	2.73	33.8 %	0.32	411.8 %	0.05
2011	17.61	18.3 %	12.13	22.5 %	3.30	106.9 %	0.49
Q1 2012	3.54	30.7 %	2.42	14.4 %	0.35	311.6 %	0.05
Q2 2012	5.02	4.0 %	3.64	5.1 %	1.27	21.0 %	0.19
Q3 2012	6.26	9.9 %	4.27	11.5 %	2.04	10.5 %	0.30
Q4 2012	5.33	22.1 %	2.81	3.0 %	0.60	88.7 %	0.09
2012	20.16	14.5 %	13.14	8.3 %	4.26	29.2 %	0.63
Q1 2013	4.88	37.8 %	2.82	16.5 %	5.62	1487.3 %	0.83
Q2 2013	5.51	9.6 %	4.13	13.3 %	1.51	19.1 %	0.22
Q3 2013	6.11	(2.4 %)	4.66	9.1 %	2.12	4.0 %	0.31
Q4 2013	4.69	(12.1 %)	3.22	14.5 %	0.53	(11.2 %)	0.08
2013	21.19	5.1 %	14.82	12.8 %	9.78	129.6 %	1.44
Q1 2014	4.18	(14.3 %)	3.24	15.1 %	0.61	(89.2 %)	0.09
Q2 2014	6.19	12.4 %	4.62	11.9 %	1.61	6.3 %	0.24
Q3 2014	7.49	22.5 %	5.08	9.0 %	2.17	2.4 %	0.32
Q4 2014	4.70	0.2 %	3.31	2.8 %	0.45	(15.4 %)	0.07
2014	22.56	6.5 %	16.24	9.6 %	4.83	(50.6 %)	0.71
Q1 2015	5.00	19.4 %	3.63	12.2 %	0.64	6.1 %	0.09
Q2 2015	5.49	(11.4 %)	4.69	1.5 %	1.63	1.3 %	0.24
Q3 2015	7.04	(6.0 %)	5.13	1.1 %	2.19	1.0 %	0.32
Q4 2015	3.38	(28.0 %)	0.58	(82.4 %)	(2.45)	(643.5 %)	(0.36)
2015	20.90	(7.3 %)	14.03	(13.6 %)	2.01	(58.4 %)	0.30

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Halala)
2006	10.45	9.6 %	5.85	0.1 %	(8.41)	(710.8 %)	(1.24)
2007	13.51	29.4 %	8.63	47.7 %	2.12	125.2 %	0.31
2008	14.68	8.6 %	7.42	(14.1 %)	0.18	(91.6 %)	0.03
2009	13.86	(5.5 %)	5.00	(32.6 %)	(3.40)	(2009.0 %)	(0.50)
2010	14.89	7.4 %	9.91	98.0 %	1.59	146.9 %	0.24
2011	17.61	18.3 %	12.13	22.5 %	3.30	106.9 %	0.49
2012	20.16	14.5 %	13.14	8.3 %	4.26	29.2 %	0.63
2013	21.19	5.1 %	14.82	12.8 %	9.78	129.6 %	1.44
2014	22.56	6.5 %	16.24	9.6 %	4.83	(50.6 %)	0.71
2015	20.90	(7.3 %)	14.03	(13.6 %)	2.01	(58.4 %)	0.30

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2006	67.13 %	10.26 %	(24.99 %)
Q2 2006	58.93 %	38.15 %	(24.42 %)
Q3 2006	57.96 %	35.00 %	(41.71 %)
Q4 2006	55.96 %	27.61 %	(80.49 %)
2006	55.96 %	27.61 %	(80.49 %)
Q1 2007	59.09 %	32.78 %	(59.00 %)
Q2 2007	54.82 %	27.27 %	(39.74 %)
Q3 2007	59.03 %	29.35 %	(26.90 %)
Q4 2007	63.89 %	37.46 %	15.67 %
2007	63.89 %	37.46 %	15.67 %
Q1 2008	60.58 %	32.58 %	10.18 %
Q2 2008	60.78 %	31.99 %	13.90 %
Q3 2008	53.58 %	26.29 %	13.01 %
Q4 2008	50.56 %	22.74 %	1.21 %
2008	50.56 %	22.74 %	1.21 %
Q1 2009	51.29 %	23.93 %	3.31 %
Q2 2009	51.18 %	22.81 %	(2.02 %)
Q3 2009	52.14 %	21.36 %	(10.59 %)
Q4 2009	36.08 %	5.94 %	(24.52 %)
2009	36.08 %	5.94 %	(24.51 %)
Q1 2010	35.52 %	6.56 %	(27.94 %)
Q2 2010	39.95 %	11.54 %	(23.47 %)
Q3 2010	48.77 %	22.60 %	(9.77 %)
Q4 2010	66.54 %	40.26 %	10.71 %
2010	66.54 %	40.26 %	10.71 %
Q1 2011	69.24 %	40.97 %	11.00 %
Q2 2011	69.47 %	41.89 %	13.63 %
Q3 2011	68.55 %	43.30 %	17.24 %
Q4 2011	68.90 %	44.14 %	18.73 %
2011	68.90 %	44.14 %	18.73 %
Q1 2012	67.45 %	43.91 %	19.34 %
Q2 2012	67.69 %	45.92 %	20.31 %
Q3 2012	68.01 %	47.20 %	20.73 %
Q4 2012	65.16 %	44.93 %	21.13 %
2012	65.16 %	44.93 %	21.13 %
Q1 2013	62.96 %	43.22 %	(16.46 %)
Q2 2013	63.77 %	43.46 %	(14.99 %)
Q3 2013	66.00 %	44.58 %	(14.72 %)
Q4 2013	69.93 %	46.24 %	(15.48 %)
2013	69.93 %	46.24 %	(15.48 %)
Q1 2014	74.39 %	48.50 %	23.07 %
Q2 2014	74.30 %	47.50 %	22.77 %
Q3 2014	71.63 %	44.94 %	21.61 %
Q4 2014	72.00 %	45.35 %	21.24 %
2014	72.00 %	45.35 %	21.24 %
Q1 2015	71.19 %	43.44 %	20.84 %
Q2 2015	73.70 %	44.49 %	21.58 %
Q3 2015	75.43 %	45.40 %	22.11 %
Q4 2015	67.15 %	31.78 %	9.62 %
2015	67.15 %	31.79 %	9.63 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2006	55.96 %	27.61 %	(80.49 %)
2007	63.89 %	37.46 %	15.67 %
2008	50.56 %	22.74 %	1.21 %
2009	36.08 %	5.94 %	(24.51 %)
2010	66.54 %	40.26 %	10.71 %
2011	68.90 %	44.14 %	18.73 %
2012	65.16 %	44.93 %	21.13 %
2013	69.93 %	46.24 %	(15.48 %)
2014	72.00 %	45.35 %	21.24 %
2015	67.15 %	31.79 %	9.63 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2006	55.74 %	23.69 %	(67.29 %)
Q2 2006	71.70 %	54.07 %	(70.52 %)
Q3 2006	58.56 %	39.27 %	(7.35 %)
Q4 2006	31.59 %	(21.96 %)	(219.80 %)
Q1 2007	68.78 %	46.44 %	17.55 %
Q2 2007	54.92 %	32.37 %	4.73 %
Q3 2007	70.40 %	43.69 %	25.80 %
Q4 2007	60.28 %	28.17 %	11.87 %
Q1 2008	53.15 %	23.26 %	(7.83 %)
Q2 2008	57.08 %	30.18 %	20.22 %
Q3 2008	44.02 %	22.98 %	22.90 %
Q4 2008	48.67 %	14.64 %	(32.99 %)
Q1 2009	55.25 %	27.68 %	2.67 %
Q2 2009	56.67 %	25.60 %	(1.48 %)
Q3 2009	47.68 %	17.00 %	(11.46 %)
Q4 2009	(59.38 %)	(91.88 %)	(142.61 %)
Q1 2010	62.98 %	42.33 %	1.46 %
Q2 2010	71.55 %	42.20 %	13.59 %
Q3 2010	69.86 %	45.81 %	22.98 %
Q4 2010	59.06 %	28.53 %	(2.95 %)
Q1 2011	77.84 %	46.24 %	3.17 %
Q2 2011	71.84 %	44.99 %	21.74 %
Q3 2011	67.10 %	49.42 %	32.36 %
Q4 2011	62.47 %	35.01 %	7.28 %
Q1 2012	68.17 %	44.53 %	9.99 %
Q2 2012	72.58 %	52.44 %	25.27 %
Q3 2012	68.12 %	53.00 %	32.54 %
Q4 2012	52.70 %	28.65 %	11.25 %
Q1 2013	57.66 %	37.10 %	(152.50 %)
Q2 2013	74.97 %	52.59 %	27.45 %
Q3 2013	76.19 %	57.26 %	34.69 %
Q4 2013	68.64 %	33.96 %	11.36 %
Q1 2014	77.41 %	46.63 %	13.46 %
Q2 2014	74.62 %	48.72 %	25.93 %
Q3 2014	67.80 %	47.76 %	29.00 %
Q4 2014	70.44 %	35.94 %	9.60 %
Q1 2015	72.73 %	37.46 %	12.87 %
Q2 2015	85.40 %	53.76 %	29.66 %
Q3 2015	72.92 %	50.84 %	31.15 %
Q4 2015	17.27 %	(51.91 %)	(72.49 %)

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Halala)	Adjusted EPS (Halala)	Book Value (BV)
Q1 2006	677.40	(0.34)	(0.34)	0.12
Q2 2006	677.40	(0.35)	(0.35)	0.11
Q3 2006	677.40	(0.64)	(0.64)	0.11
Q4 2006	677.40	(1.24)	(1.24)	0.11
Q1 2007	677.40	(0.99)	(0.99)	0.11
Q2 2007	677.40	(0.67)	(0.67)	0.11
Q3 2007	677.40	(0.47)	(0.47)	0.11
Q4 2007	677.40	0.31	0.31	0.11
Q1 2008	677.40	0.21	0.21	0.11
Q2 2008	677.40	0.30	0.30	0.11
Q3 2008	677.40	0.28	0.28	0.11
Q4 2008	677.40	0.03	0.03	0.11
Q1 2009	677.40	0.08	0.08	0.11
Q2 2009	677.40	(0.05)	(0.05)	0.11
Q3 2009	677.40	(0.24)	(0.24)	0.11
Q4 2009	677.40	(0.50)	(0.50)	0.10
Q1 2010	677.40	(0.51)	(0.51)	0.10
Q2 2010	677.40	(0.43)	(0.43)	0.10
Q3 2010	677.40	(0.20)	(0.20)	0.10
Q4 2010	677.40	0.24	0.24	0.10
Q1 2011	677.40	0.24	0.24	0.10
Q2 2011	677.40	0.32	0.32	0.11
Q3 2011	677.40	0.42	0.42	0.11
Q4 2011	677.40	0.49	0.49	0.11
Q1 2012	677.40	0.53	0.53	0.11
Q2 2012	677.40	0.56	0.56	0.11
Q3 2012	677.40	0.59	0.59	0.11
Q4 2012	677.40	0.63	0.63	0.12
Q1 2013	677.40	1.41	(0.52)	0.12
Q2 2013	677.40	1.44	(0.49)	0.13
Q3 2013	677.40	1.45	(0.47)	0.13
Q4 2013	677.40	1.44	(0.48)	0.13
Q1 2014	677.40	0.70	0.70	0.13
Q2 2014	677.40	0.72	0.71	0.13
Q3 2014	677.40	0.73	0.72	0.14
Q4 2014	677.40	0.71	0.71	0.14
Q1 2015	677.40	0.72	0.72	0.14
Q2 2015	677.40	0.72	0.72	0.14
Q3 2015	677.40	0.73	0.73	0.14
Q4 2015	677.40	0.30	0.30	0.14

Period	Shares Outstanding (M)	EPS (Halala)	Adjusted EPS (Halala)	Book Value (BV)
2006	677.40	(1.24)	(1.24)	0.11
2007	677.40	0.31	0.31	0.11
2008	677.40	0.03	0.03	0.11
2009	677.40	(0.50)	(0.50)	0.10
2010	677.40	0.24	0.24	0.10
2011	677.40	0.49	0.49	0.11
2012	677.40	0.63	0.63	0.12
2013	677.40	1.44	(0.48)	0.13
2014	677.40	0.71	0.71	0.14
2015	677.40	0.30	0.30	0.14

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2006	NEG	NEG	11.15
Q2 2006	NEG	NEG	26.51
Q3 2006	NEG	NEG	27.47
Q4 2006	NEG	NEG	10.16
Q1 2007	NEG	NEG	12.09
Q2 2007	NEG	NEG	12.45
Q3 2007	NEG	NEG	12.46
Q4 2007	More than 100	More than 100	11.55
Q1 2008	More than 100	More than 100	6.76
Q2 2008	More than 100	More than 100	6.55
Q3 2008	More than 100	More than 100	3.75
Q4 2008	More than 100	More than 100	3.71
Q1 2009	More than 100	More than 100	5.44
Q2 2009	NEG	NEG	9.01
Q3 2009	NEG	NEG	7.75
Q4 2009	NEG	NEG	8.63
Q1 2010	NEG	NEG	8.30
Q2 2010	NEG	NEG	5.94
Q3 2010	NEG	NEG	5.48
Q4 2010	More than 100	More than 100	5.69
Q1 2011	More than 100	More than 100	5.24
Q2 2011	More than 100	More than 100	5.49
Q3 2011	More than 100	More than 100	5.45
Q4 2011	More than 100	More than 100	6.98
Q1 2012	More than 100	More than 100	9.14
Q2 2012	More than 100	More than 100	6.86
Q3 2012	More than 100	More than 100	7.92
Q4 2012	More than 100	More than 100	8.28
Q1 2013	More than 100	NEG	16.02
Q2 2013	More than 100	NEG	21.41
Q3 2013	More than 100	NEG	20.79
Q4 2013	More than 100	NEG	16.13
Q1 2014	More than 100	More than 100	14.90
Q2 2014	More than 100	More than 100	11.96
Q3 2014	More than 100	More than 100	12.80
Q4 2014	More than 100	More than 100	7.20
Q1 2015	More than 100	More than 100	7.96
Q2 2015	More than 100	More than 100	8.50
Q3 2015	More than 100	More than 100	6.23
Q4 2015	More than 100	More than 100	7.82

Period	P/E	Adjusted P/E	Price/book
2006	NEG	NEG	10.16
2007	More than 100	More than 100	11.55
2008	More than 100	More than 100	3.71
2009	NEG	NEG	8.63
2010	More than 100	More than 100	5.69
2011	More than 100	More than 100	6.98
2012	More than 100	More than 100	8.28
2013	More than 100	NEG	16.13
2014	More than 100	More than 100	7.20
2015	More than 100	More than 100	7.82

Financial Ratios

	Current
Market Cap (M Riyal)	948.31
Enterprise Value (EV) (M)	429.55
Shares Outstanding ((M))	1,156.47
EPS (Halala) (TTM)	(3.48)
Book Value (BV) ( Riyal)	0.44
Par Value ( Halala)	50.00
Adjusted P/E (Last12)	Neg
P/E (TTM)	NEG
Price/book	1.85
Return on Average Assets (%) (TTM)	(7.29 )
Return on Average Equity (%) (TTM)	(7.55 )

Tourism Enterprise Co. (TECO)

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Shams’ net profit drops 58% to SAR 2 mln in 2015

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Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Financial Ratios

Share Price

Tourism Enterprise Co. (TECO)

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Shams’ net profit drops 58% to SAR 2 mln in 2015

View other reports

Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Financial Ratios

Share Price

Tourism Enterprise Co. (TECO)

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