Financial Results : Takween posts lower net profit at SAR 44.4m at the end of 2013

Takween posts lower net profit at SAR 44.4m at the end of 2013

31/12/2013 Argaam Exclusive

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Takween Advanced Industries Company, reported SAR 44.4m net profit at the end of 2013, a 41% decrease compared to last year, as shown in the following table:



Financials (M)

Item 2012 2013 Change‬
Revenues 669.66 731.02 9.2 %
Gross Income 122.66 95.31 (22.3 %)
Operating Income 84.76 46.64 (45.0 %)
Net Income 75.32 44.39 (41.1 %)
Average Shares 29.72 29.72 0.0 %
Earnings Per Share before unusual items (Riyals) 2.53 0.86 (66.2 %)
EPS (Riyal) 2.53 1.49 (41.1 %)


Current Quarter Comparison (M)

Compared With The
Item Q4 2012 Q4 2013 Change‬
Revenues 160.23 164.14 2.4 %
Gross Income 28.80 11.42 (60.3 %)
Operating Income 22.83 (1.26) (105.5 %)
Net Income 21.83 (1.47) (106.7 %)
Average Shares 29.72 29.72 0.0 %
Earnings Per Share before unusual items (Riyal) 0.73 (0.22) (129.6 %)
EPS (Riyal) 0.73 (0.05) (106.7 %)


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2004 - - - - - -
Q2 2004 - - - - - -
Q3 2004 - - - - - -
Q4 2004 - - - - - -
Q1 2005 - - - - - -
Q2 2005 - - - - - -
Q3 2005 - - - - - -
Q4 2005 - - - - - -
Q1 2006 - - - - - -
Q2 2006 - - - - - -
Q3 2006 - - - - - -
Q4 2006 - - - - - -
Q1 2007 - - - - - -
Q2 2007 - - - - - -
Q3 2007 - - - - - -
Q4 2007 - - - - - -
Q1 2008 - - - - - -
Q2 2008 - - - - - -
Q3 2008 - - - - - -
Q4 2008 - - - - - -
Q1 2009 - - - - - -
Q2 2009 - - - - - -
Q3 2009 - - - - - -
Q4 2009 - - - - - -
Q1 2010 - - - - - -
Q2 2010 - - - - - -
Q3 2010 - - - - - -
Q4 2010 - - - - - -
Q1 2011 150.26 - 26.15 - 17.07 -
Q2 2011 186.64 - 34.17 - 25.37 -
Q3 2011 190.40 - 33.42 - 22.08 -
Q4 2011 166.84 - 35.19 - 25.13 -
Q1 2012 148.90 (0.9 %) 27.08 3.6 % 16.63 (2.6 %)
Q2 2012 177.53 (4.9 %) 33.37 (2.3 %) 22.98 (9.4 %)
Q3 2012 183.00 (3.9 %) 33.41 0.0 % 22.32 1.1 %
Q4 2012 160.23 (4.0 %) 28.80 (18.2 %) 22.83 (9.2 %)
Q1 2013 180.66 21.3 % 30.71 13.4 % 19.94 19.9 %
Q2 2013 193.99 9.3 % 26.22 (21.4 %) 13.38 (41.8 %)
Q3 2013 192.23 5.0 % 26.96 (19.3 %) 14.57 (34.7 %)
Q4 2013 164.14 2.4 % 11.42 (60.3 %) (1.26) (105.5 %)
2013 731.02 9.2 % 95.31 (22.3 %) 46.64 (45.0 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS(Riyal)
Q1 2004 - - - - - -
Q2 2004 - - - - - -
Q3 2004 - - - - - -
Q4 2004 - - - - - -
Q1 2005 - - - - - -
Q2 2005 - - - - - -
Q3 2005 - - - - - -
Q4 2005 - - - - - -
Q1 2006 - - - - - -
Q2 2006 - - - - - -
Q3 2006 - - - - - -
Q4 2006 - - - - - -
Q1 2007 - - - - - -
Q2 2007 - - - - - -
Q3 2007 - - - - - -
Q4 2007 - - - - - -
Q1 2008 - - - - - -
Q2 2008 - - - - - -
Q3 2008 - - - - - -
Q4 2008 - - - - - -
Q1 2009 - - - - - -
Q2 2009 - - - - - -
Q3 2009 - - - - - -
Q4 2009 - - - - - -
Q1 2010 - - - - - -
Q2 2010 - - - - - -
Q3 2010 - - - - - -
Q4 2010 - - - - - -
Q1 2011 13.12 - 0.44 - 13.12 0.44
Q2 2011 22.06 - 0.74 - 22.06 0.74
Q3 2011 18.11 - 0.61 - 18.11 0.61
Q4 2011 22.87 - 0.77 - 22.87 0.77
Q1 2012 13.36 1.8 % 0.45 - 13.36 0.45
Q2 2012 21.15 (4.1 %) 0.71 - 21.15 0.71
Q3 2012 18.98 4.8 % 0.64 - 18.98 0.64
Q4 2012 21.83 (4.5 %) 0.73 - 21.83 0.73
Q1 2013 18.24 36.5 % 0.61 2.20 16.04 0.54
Q2 2013 16.85 (20.3 %) 0.57 7.30 9.55 0.32
Q3 2013 10.78 (43.2 %) 0.36 4.47 6.31 0.21
Q4 2013 (1.47) (106.7 %) (0.05) 4.97 (6.46) (0.22)
2013 44.39 (41.1 %) 1.49 18.95 25.44 0.86

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2004 - - -
Q2 2004 - - -
Q3 2004 - - -
Q4 2004 - - -
Q1 2005 - - -
Q2 2005 - - -
Q3 2005 - - -
Q4 2005 - - -
Q1 2006 - - -
Q2 2006 - - -
Q3 2006 - - -
Q4 2006 - - -
Q1 2007 - - -
Q2 2007 - - -
Q3 2007 - - -
Q4 2007 - - -
Q1 2008 - - -
Q2 2008 - - -
Q3 2008 - - -
Q4 2008 - - -
Q1 2009 - - -
Q2 2009 - - -
Q3 2009 - - -
Q4 2009 - - -
Q1 2010 - - -
Q2 2010 - - -
Q3 2010 - - -
Q4 2010 - - -
Q1 2011 - - -
Q2 2011 - - -
Q3 2011 - - -
Q4 2011 18.57 % 19.57 % 10.97 %
Q1 2012 18.75 % 19.53 % 11.03 %
Q2 2012 18.88 % 19.39 % 11.04 %
Q3 2012 19.08 % 19.64 % 11.29 %
Q4 2012 18.32 % 19.44 % 11.25 %
2012 18.32 % 19.44 % 11.25 %
Q1 2013 18.00 % 19.21 % 11.12 %
Q2 2013 16.60 % 17.47 % 9.25 %
Q3 2013 15.50 % 16.19 % 7.39 %
Q4 2013 13.04 % 12.73 % 3.48 %
2013 13.04 % 12.73 % 3.48 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Earnings Per Share before unusual items (Riyal) Book Value (BV)
Q1 2004 - - - -
Q2 2004 - - - -
Q3 2004 - - - -
Q4 2004 - - - -
Q1 2005 - - - -
Q2 2005 - - - -
Q3 2005 - - - -
Q4 2005 - - - -
Q1 2006 - - - -
Q2 2006 - - - -
Q3 2006 - - - -
Q4 2006 - - - -
Q1 2007 - - - -
Q2 2007 - - - -
Q3 2007 - - - -
Q4 2007 - - - -
Q1 2008 - - - -
Q2 2008 - - - -
Q3 2008 - - - -
Q4 2008 - - - -
Q1 2009 - - - -
Q2 2009 - - - -
Q3 2009 - - - -
Q4 2009 - - - -
Q1 2010 - - - -
Q2 2010 - - - -
Q3 2010 - - - -
Q4 2010 - - - -
Q1 2011 29.72 - - 11.99
Q2 2011 29.72 - - 12.73
Q3 2011 29.72 - - 13.34
Q4 2011 29.72 2.56 2.56 13.10
Q1 2012 29.72 2.57 2.57 13.55
Q2 2012 29.72 2.54 2.54 12.90
Q3 2012 29.72 2.57 2.57 13.54
Q4 2012 29.72 2.53 2.53 14.23
Q1 2013 29.72 2.70 2.62 14.84
Q2 2013 29.72 2.55 2.23 14.90
Q3 2013 29.72 2.28 1.81 15.27
Q4 2013 29.72 1.49 0.86 15.22

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Recurring P/E Price/book
Q1 2004 - - -
Q2 2004 - - -
Q3 2004 - - -
Q4 2004 - - -
Q1 2005 - - -
Q2 2005 - - -
Q3 2005 - - -
Q4 2005 - - -
Q1 2006 - - -
Q2 2006 - - -
Q3 2006 - - -
Q4 2006 - - -
Q1 2007 - - -
Q2 2007 - - -
Q3 2007 - - -
Q4 2007 - - -
Q1 2008 - - -
Q2 2008 - - -
Q3 2008 - - -
Q4 2008 - - -
Q1 2009 - - -
Q2 2009 - - -
Q3 2009 - - -
Q4 2009 - - -
Q1 2010 - - -
Q2 2010 - - -
Q3 2010 - - -
Q4 2010 - - -
Q1 2011 - - -
Q2 2011 - - -
Q3 2011 - - -
Q4 2011 - - -
Q1 2012 63.46 63.46 12.04
Q2 2012 41.50 41.50 8.17
Q3 2012 49.79 49.79 9.45
Q4 2012 44.76 44.76 7.97
Q1 2013 42.41 43.60 7.71
Q2 2013 48.04 54.91 8.23
Q3 2013 52.26 65.85 7.80
Q4 2013 78.48 More than 100 7.70

Business Segments (Million)

Compared With The
Period Polystyrene cups and lids and other related plastic products Non- woven Fabrics Thumbnail of preset BIT bottles (polyethylene terephthalate)
Q4 2010 41.72 67.54 38.25
Q1 2011 43.06 71.61 35.59
Q2 2011 60.95 73.94 51.74
Q3 2011 69.75 72.86 47.78
Q4 2011 58.65 69.10 39.08
Q1 2012 48.72 67.43 32.75
Q2 2012 67.45 60.71 49.37
Q3 2012 70.66 59.75 52.59
Q4 2012 56.30 62.99 40.93
Q1 2013 64.97 69.86 45.83
Q2 2013 70.83 65.93 57.23
Q3 2013 77.06 67.41 47.76
Q4 2013 68.04 63.45 32.66


Financial Ratios
Current
Market Cap (M Riyal) 471.76
Enterprise Value (EV) (M Riyal) 1,060.54
Shares Outstanding ((M)) 76.46
EPS ( Riyal) (TTM) (1.33)
Book Value (BV) ( Riyal) 4.46
Par Value ( Riyal) 10.00
Recurring P/E Neg
P/E (TTM) NEG
Price/book 1.38
Return on Average Assets (%) (TTM) (7.92 )
Return on Average Equity (%) (TTM) (25.89 )
EV/adj EBITDA 542.48
EV/Revenues 1.79
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Share Price

Takween Advanced Industries Co.
6.17
(0.14) (2.22 %)

Takween Advanced Industries Co. (TAKWEEN)

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