MEPCO posts higher net profit at SAR 111.3 mln for year 2014
07/04/2015
Argaam Exclusive
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Middle East Paper Company (MEPCO) reported a net profit of SAR 111.3 mln for year ended 2014 ,a 27 percent increase compared to the same period the previous year.
Financials (M)
| Item | 2013 | 2014 | Change |
|---|---|---|---|
| Revenues | 760.17 | 826.43 | 8.7 % |
| Gross Income | 203.91 | 234.71 | 15.1 % |
| Operating Income | 124.63 | 141.99 | 13.9 % |
| Net Income | 88.08 | 111.34 | 26.4 % |
| Average Shares | 66.67 | 66.67 | - |
| Earnings Per Share before unusual items (Riyals) | 1.32 | 1.67 | 26.4 % |
| EPS (Riyal) | 1.32 | 1.67 | 26.4 % |
Compared With The
Current Quarter Comparison (M)
| Item | Q4 2013 | Q4 2014 | Change |
|---|---|---|---|
| Revenues | 188.35 | 202.50 | 7.5 % |
| Gross Income | 50.81 | 53.41 | 5.1 % |
| Operating Income | 32.76 | 31.88 | (2.7 %) |
| Net Income | 22.56 | 22.91 | 1.5 % |
| Average Shares | 66.67 | 66.67 | - |
| Earnings Per Share before unusual items (Riyal) | 0.34 | 0.34 | 1.5 % |
| EPS (Riyal) | 0.34 | 0.34 | 1.5 % |
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| Q1 2014 | 200.96 | 14.3 % | 52.97 | 28.3 % | 29.65 | 44.0 % |
| Q2 2014 | 203.05 | 3.9 % | 59.04 | 16.7 % | 36.78 | 24.4 % |
| Q3 2014 | 219.60 | 9.5 % | 68.98 | 12.7 % | 43.91 | 5.3 % |
| Q4 2014 | 202.50 | 7.5 % | 53.41 | 5.1 % | 31.88 | (2.7 %) |
| 2014 | 826.43 | 8.7 % | 234.71 | 15.1 % | 141.99 | 13.9 % |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS(Riyal) |
|---|---|---|---|---|---|---|
| Q1 2014 | 22.83 | 102.7 % | 0.34 | - | 22.83 | 0.34 |
| Q2 2014 | 29.26 | 28.6 % | 0.44 | - | 29.26 | 0.44 |
| Q3 2014 | 36.35 | 15.4 % | 0.55 | - | 36.35 | 0.55 |
| Q4 2014 | 22.91 | 1.5 % | 0.34 | - | 22.91 | 0.34 |
| 2014 | 111.34 | 26.4 % | 1.67 | - | 111.34 | 1.67 |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| Q1 2013 | - | - | - |
| Q2 2013 | - | - | - |
| Q3 2013 | - | - | - |
| Q4 2013 | 26.82 % | 26.56 % | 11.59 % |
| 2013 | 26.82 % | 26.56 % | 11.59 % |
| Q1 2014 | 27.46 % | 27.05 % | 12.69 % |
| Q2 2014 | 28.26 % | 28.06 % | 13.39 % |
| Q3 2014 | 28.55 % | 28.01 % | 13.67 % |
| Q4 2014 | 28.37 % | 27.86 % | 13.48 % |
| 2014 | 28.40 % | 27.82 % | 13.47 % |
Compared With The
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Earnings Per Share before unusual items (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| Q1 2014 | 66.67 | 1.49 | 1.49 | 8.33 |
| Q2 2014 | 66.67 | 1.59 | 1.59 | 8.15 |
| Q3 2014 | 66.67 | 1.66 | 1.66 | 8.70 |
| Q4 2014 | 66.67 | 1.67 | 1.67 | 9.04 |
Multiple Ratios (End of Period Price)
| Period | P/E | Recurring P/E | Price/book |
|---|---|---|---|
| Q1 2014 | - | - | - |
| Q2 2014 | - | - | - |
| Q3 2014 | - | - | - |
| Q4 2014 | - | - | - |
Business Segments (Million)
Q4 2014
| Period | The industrial sector | The commercial sector | Disposals |
|---|---|---|---|
| Q1 2014 | 189.39 | 64.27 | (52.69) |
| Q2 2014 | 186.73 | 82.23 | (65.90) |
| Q3 2014 | 204.13 | 83.05 | (67.58) |
| Q4 2014 | 190.08 | 90.98 | (78.55) |
| Current | |
| Market Cap (M Riyal) | 2,324.49 |
| Enterprise Value (EV) (M Riyal) | 2,449.63 |
| Shares Outstanding ((M)) | 86.67 |
| EPS ( Riyal) (TTM) | (0.61) |
| Book Value (BV) ( Riyal) | 18.66 |
| Par Value ( Riyal) | 10.00 |
| Recurring P/E | Neg |
| P/E (TTM) | NEG |
| Price/book | 1.44 |
| Return on Average Assets (%) (TTM) | (2.01 ) |
| Return on Average Equity (%) (TTM) | (3.19 ) |
| EV/adj EBITDA | 20.87 |
| EV/Revenues | 2.23 |
Share Price
Middle East Paper Co. (MEPCO)
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