Financial Results : Umm Al Qura Cement’s net profit down 15% in 2018

Umm Al Qura Cement’s net profit down 15% in 2018

26/02/2019 Argaam Exclusive

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Umm Al Qura Cement Co. reported a net profit of SAR 164.44 million for the fiscal year ended Dec. 31, 2018, a 14.9 percent year-on-year decline due to lower sales value and sales volume and higher general and administrative expenses, selling and marketing expenses as well as Zakat expenses.



Financials (M)

Item 2017 2018 Change‬
Revenues 193.24 164.44 (14.9 %)
Gross Income 71.87 48.63 (32.3 %)
Operating Income 60.31 35.33 (41.4 %)
Net Income 65.70 10.13 (84.6 %)
Average Shares 55.00 55.00 -
Earnings Per Share before unusual items (Riyals) 0.68 0.18 (73.1 %)
EPS (Riyal) 1.19 0.18 (84.6 %)

The comparative period included higher other revenue resulting from a settlement with the main contractor of the company’s plant.



Current Quarter Comparison (M)

Compared With The
Item Q4 2017 Q4 2018 Change‬
Revenues 58.54 43.07 (26.4 %)
Gross Income 16.54 14.33 (13.4 %)
Operating Income 13.59 11.64 (14.3 %)
Net Income 35.11 3.69 (89.5 %)
Average Shares 55.00 55.00 -
Earnings Per Share before unusual items (Riyal) 0.13 0.07 (47.3 %)
EPS (Riyal) 0.64 0.07 (89.5 %)


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
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 - - - - - -
Q2 2012 - - - - - -
Q3 2012 - - - - - -
Q4 2012 - - - - - -
Q1 2013 - - - - - -
Q2 2013 - - - - - -
Q3 2013 - - - - - -
Q4 2013 - - - - - -
Q1 2014 - - - - (3.42) -
Q2 2014 - - - - (3.27) -
Q3 2014 - - - - (6.90) -
Q4 2014 - - - - (3.72) -
Q1 2015 - - - - (3.65) (6.5 %)
Q2 2015 - - - - (3.00) 8.4 %
Q3 2015 - - - - (3.17) 54.1 %
Q4 2015 - - - - (5.35) (43.9 %)
Q1 2016 - - - - (3.52) 3.4 %
Q2 2016 - - - - (3.87) (29.2 %)
Q3 2016 0.43 - 0.26 - (3.91) (23.4 %)
Q4 2016 39.62 - 11.68 - 7.91 247.9 %
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 %
Q1 2018 56.54 9.4 % 20.28 (17.2 %) 16.18 (26.8 %)
Q2 2018 31.12 (20.0 %) 7.97 (51.9 %) 5.52 (60.5 %)
Q3 2018 33.71 (23.5 %) 6.06 (57.7 %) 1.99 (81.3 %)
Q4 2018 43.07 (26.4 %) 14.33 (13.4 %) 11.64 (14.3 %)
2018 164.44 (14.9 %) 48.63 (32.3 %) 35.33 (41.4 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS(Riyal)
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 - - - - - -
Q2 2012 - - - - - -
Q3 2012 - - - - - -
Q4 2012 - - - - - -
Q1 2013 - - - - - -
Q2 2013 - - - - - -
Q3 2013 - - - - - -
Q4 2013 - - - - - -
Q1 2014 (3.42) - (0.06) - (3.42) (0.06)
Q2 2014 (11.74) - (0.21) (8.47) (3.27) (0.06)
Q3 2014 (6.90) - (0.13) - (6.90) (0.13)
Q4 2014 (3.72) - (0.07) - (3.72) (0.07)
Q1 2015 (4.72) (37.8 %) (0.09) - (4.72) (0.09)
Q2 2015 (7.62) 35.1 % (0.14) - (7.62) (0.14)
Q3 2015 (1.73) 74.9 % (0.03) - (1.73) (0.03)
Q4 2015 (10.00) (169.1 %) (0.18) - (10.00) (0.18)
Q1 2016 (3.65) 22.5 % (0.07) - (3.65) (0.07)
Q2 2016 (4.35) 42.9 % (0.08) - (4.35) (0.08)
Q3 2016 (4.28) (146.8 %) (0.08) - (4.28) (0.08)
Q4 2016 1.85 118.5 % 0.03 (3.85) 5.70 0.10
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
Q1 2018 10.17 (40.2 %) 0.18 - 10.17 0.18
Q2 2018 0.20 (97.6 %) 0.00 - 0.20 0.00
Q3 2018 (3.94) (177.1 %) (0.07) - (3.94) (0.07)
Q4 2018 3.69 (89.5 %) 0.07 - 3.69 0.07
2018 10.13 (84.6 %) 0.18 - 10.13 0.18

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
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 - - -
Q2 2012 - - -
Q3 2012 - - -
Q4 2012 - - -
Q1 2013 - - -
Q2 2013 - - -
Q3 2013 - - -
Q4 2013 - - -
Q1 2014 - - -
Q2 2014 - - -
Q3 2014 - - -
Q4 2014 - - -
Q1 2015 - - -
Q2 2015 - - -
Q3 2015 - - -
Q4 2015 - - -
Q1 2016 - - -
Q2 2016 - - -
Q3 2016 59.67 % (3587.65 %) (5194.17 %)
Q4 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 %
Q1 2018 34.16 % 54.92 % 15.52 %
Q2 2018 31.05 % 52.58 % 11.82 %
Q3 2018 28.26 % 50.21 % 7.47 %
Q4 2018 29.57 % 53.04 % 6.16 %
2018 29.57 % 53.04 % 6.16 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Earnings Per Share before unusual items (Riyal) Book Value (BV)
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 - - - -
Q2 2012 - - - -
Q3 2012 - - - -
Q4 2012 - - - -
Q1 2013 - - - -
Q2 2013 - - - -
Q3 2013 - - - -
Q4 2013 - - - -
Q1 2014 55.00 - - -
Q2 2014 55.00 - - 9.59
Q3 2014 55.00 - - 9.47
Q4 2014 55.00 (0.47) (0.31) 9.49
Q1 2015 55.00 (0.49) (0.34) 9.41
Q2 2015 55.00 (0.42) (0.42) 9.27
Q3 2015 55.00 (0.32) (0.32) 9.24
Q4 2015 55.00 (0.44) (0.44) 9.14
Q1 2016 55.00 (0.42) (0.42) 9.08
Q2 2016 55.00 (0.36) (0.36) 9.00
Q3 2016 55.00 (0.41) (0.41) 8.92
Q4 2016 55.00 (0.19) (0.12) 8.95
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
Q1 2018 55.00 1.07 0.56 10.33
Q2 2018 55.00 0.92 0.41 10.33
Q3 2018 55.00 0.76 0.24 10.26
Q4 2018 55.00 0.18 0.18 10.33

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Recurring P/E Price/book
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 - - -
Q2 2012 - - -
Q3 2012 - - -
Q4 2012 - - -
Q1 2013 - - -
Q2 2013 - - -
Q3 2013 - - -
Q4 2013 - - -
Q1 2014 - - -
Q2 2014 - - 3.56
Q3 2014 - - 4.89
Q4 2014 NEG NEG 3.85
Q1 2015 NEG NEG 4.44
Q2 2015 NEG NEG 4.26
Q3 2015 NEG NEG 3.36
Q4 2015 NEG NEG 2.97
Q1 2016 NEG NEG 2.76
Q2 2016 NEG NEG 2.65
Q3 2016 NEG NEG 1.80
Q4 2016 NEG NEG 2.00
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
Q1 2018 14.92 28.55 1.54
Q2 2018 15.46 34.78 1.38
Q3 2018 15.33 47.38 1.13
Q4 2018 62.01 62.01 1.11


Financial Ratios
Current
Market Cap (M Riyal) 805.20
Enterprise Value (EV) (M Riyal) 1,030.17
Shares Outstanding ((M)) 55.00
EPS ( Riyal) (TTM) 0.70
Book Value (BV) ( Riyal) 15.17
Par Value ( Riyal) 10.00
Recurring P/E 20.93
P/E (TTM) 20.93
Price/book 0.97
Return on Average Assets (%) (TTM) 3.2
Return on Average Equity (%) (TTM) 4.7
EV/adj EBITDA 9.54
EV/Revenues 4.01
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Share Price

Umm Al-Qura Cement Co.
14.64
0.14 0.97 %

Umm Al-Qura Cement Co. (UACC)

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