Umm Al-Qura swings to SAR 66 mln net profit in FY17
12/03/2018
Argaam Exclusive
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Umm Al-Qura Cement Co. (UACC) turned to a net profit of SAR 65.7 million for the fiscal year 2017, compared to a net loss of SAR 10.4 million a year earlier. The cement producer attributed the profit to higher sales as well as the SAR 28 million in other income generated from a final settlement with the plant contractor.
The full-year profit was also backed by a decline in general and administrative expenses.
Financials (M)
| Item | 2016 | 2017 | Change |
|---|---|---|---|
| Revenues | 40.05 | 193.24 | 382.6 % |
| Gross Income | 11.94 | 71.87 | 502.0 % |
| Operating Income | (3.40) | 60.31 | 1875.4 % |
| Net Income | (10.43) | 65.70 | 729.9 % |
| Average Shares | 55.00 | 55.00 | - |
| Earnings Per Share before unusual items (Riyals) | (0.12) | 0.68 | 671.4 % |
| EPS (Riyal) | (0.19) | 1.19 | 729.9 % |
Compared With The
Current Quarter Comparison (M)
| Item | Q4 2016 | Q4 2017 | Change |
|---|---|---|---|
| Revenues | 39.62 | 58.54 | 47.8 % |
| Gross Income | 11.68 | 16.54 | 41.5 % |
| Operating Income | 7.91 | 13.59 | 71.9 % |
| Net Income | 1.85 | 35.11 | 1797.9 % |
| Average Shares | 55.00 | 55.00 | - |
| Earnings Per Share before unusual items (Riyal) | 0.10 | 0.13 | 22.9 % |
| EPS (Riyal) | 0.03 | 0.64 | 1797.9 % |
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| Q1 2017 | 51.70 | - | 24.49 | - | 22.12 | 728.0 % |
| Q2 2017 | 38.91 | - | 16.55 | - | 13.99 | 461.3 % |
| Q3 2017 | 44.09 | 10176.9 % | 14.30 | 5487.1 % | 10.62 | 371.3 % |
| Q4 2017 | 58.54 | 47.8 % | 16.54 | 41.5 % | 13.59 | 71.9 % |
| 2017 | 193.24 | 382.6 % | 71.87 | 502.0 % | 60.31 | 1875.4 % |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS(Riyal) |
|---|---|---|---|---|---|---|
| Q1 2017 | 17.02 | 565.9 % | 0.31 | - | 17.02 | 0.31 |
| Q2 2017 | 8.46 | 294.5 % | 0.15 | - | 8.46 | 0.15 |
| Q3 2017 | 5.11 | 219.4 % | 0.09 | - | 5.11 | 0.09 |
| Q4 2017 | 35.11 | 1797.9 % | 0.64 | 28.11 | 7.01 | 0.13 |
| 2017 | 65.70 | 729.9 % | 1.19 | 28.11 | 37.60 | 0.68 |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| Q1 2016 | - | - | - |
| Q2 2016 | - | - | - |
| Q3 2016 | 59.67 % | (3587.65 %) | (5194.17 %) |
| Q4 2016 | 29.82 % | 27.15 % | (16.43 %) |
| 2016 | 29.82 % | 27.15 % | (16.43 %) |
| Q1 2017 | 39.70 % | 53.18 % | 15.37 % |
| Q2 2017 | 40.55 % | 60.88 % | 20.59 % |
| Q3 2017 | 38.45 % | 60.77 % | 20.82 % |
| Q4 2017 | 37.19 % | 58.90 % | 19.46 % |
| 2017 | 37.19 % | 58.91 % | 19.46 % |
Compared With The
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Earnings Per Share before unusual items (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| Q1 2017 | 55.00 | 0.19 | 0.26 | 9.26 |
| Q2 2017 | 55.00 | 0.42 | 0.49 | 9.41 |
| Q3 2017 | 55.00 | 0.59 | 0.66 | 9.51 |
| Q4 2017 | 55.00 | 1.19 | 0.68 | 10.15 |
Multiple Ratios (End of Period Price)
| Period | P/E | Recurring P/E | Price/book |
|---|---|---|---|
| Q1 2017 | More than 100 | 74.48 | 2.06 |
| Q2 2017 | 43.72 | 37.47 | 1.95 |
| Q3 2017 | 28.50 | 25.48 | 1.77 |
| Q4 2017 | 14.07 | 24.59 | 1.66 |
Analysts Estimates (Million)
| Item | Profit (Expected) | Profit (Actual) | Change | Profit Before Unusual Items | Change |
|---|---|---|---|---|---|
| Average | 5.90 | 35.11 | 7.01 |
Estimates vs Actual (Million)
| Item | Profit (Expected) | Profit (Actual) | Change | Profit Before Unusual Items | Change |
|---|---|---|---|---|---|
| OSOOL AND BAKHEET | 5.90 | 35.11 | 7.01 |
| Current | |
| Market Cap (M Riyal) | 717.20 |
| Enterprise Value (EV) (M Riyal) | 925.58 |
| Shares Outstanding ((M)) | 55.00 |
| EPS ( Riyal) (TTM) | 0.73 |
| Book Value (BV) ( Riyal) | 15.38 |
| Par Value ( Riyal) | 10.00 |
| Recurring P/E | 17.80 |
| P/E (TTM) | 17.80 |
| Price/book | 0.85 |
| Return on Average Assets (%) (TTM) | 3.4 |
| Return on Average Equity (%) (TTM) | 4.9 |
| EV/adj EBITDA | 8.42 |
| EV/Revenues | 3.45 |
Share Price
Umm Al-Qura Cement Co. (UACC)
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