Umm Al Qura’s net profit down 59% in H1

07/08/2018 Argaam Exclusive

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Umm Al Qura Cement Co. reported a net profit of SAR 10.37 million for the first half of 2018, a 59.3 percent year-on-year decline on lower sales value driven by lower selling prices. The company also cited higher financial charges, selling & marketing expenses and recording a provision for trade receivables as per IFRS 9.

Financials (M)

Item	6m 2017	6m 2018	Change‬
Revenues	90.61	87.66	(3.3 %)
Gross Income	41.04	28.24	(31.2 %)
Operating Income	36.10	21.70	(39.9 %)
Net Income	25.48	10.37	(59.3 %)
Average Shares	55.00	55.00	-
EPS (Riyals)	0.46	0.19	(59.3 %)

The company reported a net profit of SAR 199,673 for Q2 2018, a 97.6 percent year-on-year decrease due to lower sales value driven by lower selling prices and lower selling & marketing expenses.

When compared to previous quarter, net profit fell 98 percent attributed to lower sales and selling prices driven by intensive competition.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2017	Q2 2018	Change‬
Revenues	38.91	31.12	(20.0 %)
Gross Income	16.55	7.97	(51.9 %)
Operating Income	13.99	5.52	(60.5 %)
Net Income	8.46	0.20	(97.6 %)
Average Shares	55.00	55.00	-
EPS (Riyals)	0.15	0.00	(97.6 %)

Item	Q1 2018	Q2 2018	Change‬
Revenues	56.54	31.12	(45.0 %)
Gross Income	20.28	7.97	(60.7 %)
Operating Income	16.18	5.52	(65.9 %)
Net Income	10.17	0.20	(98.0 %)
Average Shares	55.00	55.00	-
EPS (Riyals)	0.18	0.00	(98.0 %)

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
Q1 2009	-	-	-	-	-	-	-
Q2 2009	-	-	-	-	-	-	-
Q3 2009	-	-	-	-	-	-	-
Q4 2009	-	-	-	-	-	-	-
2009	-	-	-	-	-	-	-
Q1 2010	-	-	-	-	-	-	-
Q2 2010	-	-	-	-	-	-	-
Q3 2010	-	-	-	-	-	-	-
Q4 2010	-	-	-	-	-	-	-
2010	-	-	-	-	-	-	-
Q1 2011	-	-	-	-	-	-	-
Q2 2011	-	-	-	-	-	-	-
Q3 2011	-	-	-	-	-	-	-
Q4 2011	-	-	-	-	-	-	-
2011	-	-	-	-	-	-	-
Q1 2012	-	-	-	-	-	-	-
Q2 2012	-	-	-	-	-	-	-
Q3 2012	-	-	-	-	-	-	-
Q4 2012	-	-	-	-	-	-	-
2012	-	-	-	-	-	-	-
Q1 2013	-	-	-	-	-	-	-
Q2 2013	-	-	-	-	-	-	-
Q3 2013	-	-	-	-	-	-	-
Q4 2013	-	-	-	-	-	-	-
2013	-	-	-	-	(6.86)	-	(0.12)
Q1 2014	-	-	-	-	(3.42)	-	(0.06)
Q2 2014	-	-	-	-	(11.74)	-	(0.21)
Q3 2014	-	-	-	-	(6.90)	-	(0.13)
Q4 2014	-	-	-	-	(3.72)	-	(0.07)
2014	-	-	-	-	(21.14)	(208.0 %)	(0.38)
Q1 2015	-	-	-	-	(4.72)	(37.8 %)	(0.09)
Q2 2015	-	-	-	-	(7.62)	35.1 %	(0.14)
Q3 2015	-	-	-	-	(1.73)	74.9 %	(0.03)
Q4 2015	-	-	-	-	(10.00)	(169.1 %)	(0.18)
2015	-	-	-	-	(19.15)	9.4 %	(0.35)
Q1 2016	-	-	-	-	(3.65)	22.5 %	(0.07)
Q2 2016	-	-	-	-	(4.35)	42.9 %	(0.08)
Q3 2016	0.43	-	0.26	-	(4.28)	(146.8 %)	(0.08)
Q4 2016	39.62	-	11.68	-	1.85	118.5 %	0.03
2016	40.05	-	11.94	-	(10.43)	45.5 %	(0.19)
Q1 2017	51.70	-	24.49	-	17.02	565.9 %	0.31
Q2 2017	38.91	-	16.55	-	8.46	294.5 %	0.15
Q3 2017	44.09	10176.9 %	14.30	5487.1 %	5.11	219.4 %	0.09
Q4 2017	58.54	47.8 %	16.54	41.5 %	35.11	1797.9 %	0.64
2017	193.24	382.6 %	71.87	502.0 %	65.70	729.9 %	1.19
Q1 2018	56.54	9.4 %	20.28	(17.2 %)	10.17	(40.2 %)	0.18
Q2 2018	31.12	(20.0 %)	7.97	(51.9 %)	0.20	(97.6 %)	0.00

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
2008	-	-	-	-	-	-	-
2009	-	-	-	-	-	-	-
2010	-	-	-	-	-	-	-
2011	-	-	-	-	-	-	-
2012	-	-	-	-	-	-	-
2013	-	-	-	-	(6.86)	-	(0.12)
2014	-	-	-	-	(21.14)	(208.0 %)	(0.38)
2015	-	-	-	-	(19.15)	9.4 %	(0.35)
2016	40.05	-	11.94	-	(10.43)	45.5 %	(0.19)
2017	193.24	382.6 %	71.87	502.0 %	65.70	729.9 %	1.19

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2009	-	-	-
Q2 2009	-	-	-
Q3 2009	-	-	-
Q4 2009	-	-	-
2009	-	-	-
Q1 2010	-	-	-
Q2 2010	-	-	-
Q3 2010	-	-	-
Q4 2010	-	-	-
2010	-	-	-
Q1 2011	-	-	-
Q2 2011	-	-	-
Q3 2011	-	-	-
Q4 2011	-	-	-
2011	-	-	-
Q1 2012	-	-	-
Q2 2012	-	-	-
Q3 2012	-	-	-
Q4 2012	-	-	-
2012	-	-	-
Q1 2013	-	-	-
Q2 2013	-	-	-
Q3 2013	-	-	-
Q4 2013	-	-	-
2013	-	-	-
Q1 2014	-	-	-
Q2 2014	-	-	-
Q3 2014	-	-	-
Q4 2014	-	-	-
2014	-	-	-
Q1 2015	-	-	-
Q2 2015	-	-	-
Q3 2015	-	-	-
Q4 2015	-	-	-
2015	-	-	-
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 %
Q1 2018	34.16 %	54.92 %	15.52 %
Q2 2018	31.05 %	52.58 %	11.82 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2008	-	-	-
2009	-	-	-
2010	-	-	-
2011	-	-	-
2012	-	-	-
2013	-	-	-
2014	-	-	-
2015	-	-	-
2016	29.82 %	27.15 %	(16.43 %)
2017	37.19 %	58.91 %	19.46 %

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 %	(663.64 %)	(996.97 %)
Q4 2016	29.49 %	52.94 %	14.39 %
Q1 2017	47.36 %	66.66 %	32.93 %
Q2 2017	42.54 %	69.26 %	21.74 %
Q3 2017	32.44 %	53.41 %	11.58 %
Q4 2017	28.25 %	49.31 %	11.97 %
Q1 2018	35.86 %	52.02 %	17.99 %
Q2 2018	25.61 %	58.59 %	0.64 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (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

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2008	-	-	-	-
2009	-	-	-	-
2010	-	-	-	-
2011	-	-	-	-
2012	-	-	-	-
2013	55.00	(0.12)	(0.12)	4.88
2014	55.00	(0.38)	(0.23)	9.49
2015	55.00	(0.35)	(0.35)	9.14
2016	55.00	(0.19)	(0.12)	8.95
2017	55.00	1.19	0.68	10.15

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted 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

Period	P/E	Adjusted P/E	Price/book
2008	-	-	-
2009	-	-	-
2010	-	-	-
2011	-	-	-
2012	-	-	-
2013	-	-	-
2014	NEG	NEG	3.85
2015	NEG	NEG	2.97
2016	NEG	NEG	2.00
2017	14.07	24.59	1.66

Analysts Estimates (Million)

Item	Q2 2018 (e)	Q2 2018 (a)	Change‬
Average	8.60	0.20	(97.7 %)

Estimates vs Actual (Million)

Item	Q2 2018 (e)	Q2 2018 (a)	Change
OSOOL AND BAKHEET	8.60	0.20	(97.7) %

Financial Ratios

	Current
Market Cap (M Riyal)	921.80
Enterprise Value (EV) (M)	1,178.81
Shares Outstanding ((M))	55.00
EPS ( Riyal) (TTM)	0.21
Book Value (BV) ( Riyal)	14.19
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	More than 100
P/E (TTM)	More than 100
Price/book	1.18
Return on Average Assets (%) (TTM)	1.0
Return on Average Equity (%) (TTM)	1.5

Umm Al-Qura Cement Co. (UACC)

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Umm Al Qura’s net profit down 59% in H1

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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

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

Share Price

Umm Al-Qura Cement Co. (UACC)

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Umm Al Qura’s net profit down 59% in H1

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

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

Share Price

Umm Al-Qura Cement Co. (UACC)

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