Saudi Airlines Catering says FY15 net profit rises 7% to SAR 698.5 mln
20/01/2016
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Saudi Airlines Catering Co.’s net profit for fiscal year 2015 rose 6.8 percent year-on-year (YoY) to SAR 698.5 million, driven by division growth, particularly in business lounges, as well non-airline businesses.
Financials (M)
| Item | 2014 | 2015 | Change |
|---|---|---|---|
| Revenues | 2,135.94 | 2,260.80 | 5.8 % |
| Gross Income | 774.58 | 824.54 | 6.5 % |
| Operating Income | 633.33 | 668.91 | 5.6 % |
| Net Income | 653.93 | 698.50 | 6.8 % |
| Average Shares | 82.00 | 82.00 | - |
| Earnings Per Share before unusual items (Riyals) | 7.97 | 8.52 | 6.8 % |
| EPS (Riyal) | 7.97 | 8.52 | 6.8 % |
The company posted a net profit of SAR 190.75 million in Q4-2015, a 10 percent rise from the same quarter last year, on higher revenue from SkySales, newly established airport shops, and business lounges. Q4 profit was also 16 percent higher than the previous quarter.
Compared With The
Current Quarter Comparison (M)
| Item | Q4 2014 | Q4 2015 | Change |
|---|---|---|---|
| Revenues | 535.38 | 556.36 | 3.9 % |
| Gross Income | 183.34 | 228.36 | 24.6 % |
| Operating Income | 164.68 | 184.01 | 11.7 % |
| Net Income | 172.83 | 190.75 | 10.4 % |
| Average Shares | 82.00 | 82.00 | - |
| Earnings Per Share before unusual items (Riyal) | 2.11 | 2.33 | 10.4 % |
| EPS (Riyal) | 2.11 | 2.33 | 10.4 % |
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| Q1 2015 | 560.35 | 12.8 % | 194.73 | (0.4 %) | 162.11 | 4.1 % |
| Q2 2015 | 565.21 | 2.5 % | 198.19 | (4.6 %) | 162.82 | 1.3 % |
| Q3 2015 | 578.88 | 4.8 % | 203.26 | 8.1 % | 159.97 | 5.1 % |
| Q4 2015 | 556.36 | 3.9 % | 228.36 | 24.6 % | 184.01 | 11.7 % |
| 2015 | 2,260.80 | 5.8 % | 824.54 | 6.5 % | 668.91 | 5.6 % |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS(Riyal) |
|---|---|---|---|---|---|---|
| Q1 2015 | 167.44 | 3.5 % | 2.04 | - | 167.44 | 2.04 |
| Q2 2015 | 175.82 | 7.0 % | 2.14 | - | 175.82 | 2.14 |
| Q3 2015 | 164.50 | 6.1 % | 2.01 | - | 164.50 | 2.01 |
| Q4 2015 | 190.75 | 10.4 % | 2.33 | - | 190.75 | 2.33 |
| 2015 | 698.50 | 6.8 % | 8.52 | - | 698.50 | 8.52 |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| Q1 2014 | 37.52 % | 30.23 % | 30.87 % |
| Q2 2014 | 37.05 % | 29.28 % | 29.50 % |
| Q3 2014 | 36.94 % | 29.26 % | 29.23 % |
| Q4 2014 | 36.26 % | 30.52 % | 30.62 % |
| 2014 | 36.26 % | 30.52 % | 30.62 % |
| Q1 2015 | 35.18 % | 29.98 % | 29.99 % |
| Q2 2015 | 34.53 % | 29.94 % | 30.32 % |
| Q3 2015 | 34.80 % | 30.00 % | 30.39 % |
| Q4 2015 | 36.47 % | 30.68 % | 30.90 % |
| 2015 | 36.47 % | 30.68 % | 30.90 % |
Compared With The
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Earnings Per Share before unusual items (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| Q1 2015 | 82.00 | 8.04 | 8.04 | 16.84 |
| Q2 2015 | 82.00 | 8.18 | 8.18 | 15.39 |
| Q3 2015 | 82.00 | 8.30 | 8.30 | 15.58 |
| Q4 2015 | 82.00 | 8.52 | 8.52 | 16.08 |
Multiple Ratios (End of Period Price)
| Period | P/E | Recurring P/E | Price/book |
|---|---|---|---|
| Q1 2015 | 21.30 | 21.30 | 10.18 |
| Q2 2015 | 20.01 | 20.01 | 10.64 |
| Q3 2015 | 16.74 | 16.74 | 8.92 |
| Q4 2015 | 14.45 | 14.45 | 7.65 |
Business Segments (Million)
Q4 2015
| Period | Catering services | sky sales |
|---|---|---|
| Q1 2015 | 505.05 | 55.30 |
| Q2 2015 | 508.42 | 56.79 |
| Q3 2015 | 517.90 | 60.98 |
| Q4 2015 | 490.09 | 66.27 |
Analysts Estimates (Million)
| Item | Profit (Expected) | Profit (Actual) | Change |
|---|---|---|---|
| Average | 175.48 | 190.75 |
Estimates vs Actual (Million)
| Item | Profit (Expected) | Profit (Actual) | Change |
|---|---|---|---|
| SFC | 182.00 | 190.75 | |
| AlJazira Capital | 180.30 | 190.75 | |
| Alistithmar for Financial Securities and Brokerage | 177.60 | 190.75 | |
| Value Capital | 174.50 | 190.75 | |
| Albilad Capital | 163.00 | 190.75 |
| Current | |
| Market Cap (M Riyal) | 8,031.91 |
| Enterprise Value (EV) (M Riyal) | 8,086.16 |
| Shares Outstanding ((M)) | 82.00 |
| EPS ( Riyal) (TTM) | 4.25 |
| Book Value (BV) ( Riyal) | 18.23 |
| Par Value ( Riyal) | 10.00 |
| Recurring P/E | 23.05 |
| P/E (TTM) | 23.05 |
| Price/book | 5.37 |
| Return on Average Assets (%) (TTM) | 12.8 |
| Return on Average Equity (%) (TTM) | 24.6 |
| EV/adj EBITDA | 17.04 |
| EV/Revenues | 3.45 |
Share Price
CATRION Catering Holding Co. (CATRION)
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