Financial Results : Zahrat Al Waha’s net profit rises 58% in 9M 2019

Zahrat Al Waha’s net profit rises 58% in 9M 2019

24/10/2019 Argaam Exclusive

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Zahrat Al Waha for Trading Co. reported a net profit after zakat and tax of SAR 34.2 million for the first nine months of 2019 as compared to SAR 21.6 million in the same period last year, an increase of 58.4 percent year-on-year (YoY).

 

The profit increase is attributed to higher sales, the firm said in a bourse statement.



Financials (M)

Item 9m 2018 9m 2019 Change‬
Revenues 380.01 410.31 8.0 %
Gross Income 44.59 58.31 30.8 %
Operating Income 33.76 46.13 36.7 %
Net Income 21.61 34.24 58.4 %
Average Shares 22.50 22.50 -
Earnings Per Share before unusual items (Riyals) 0.96 1.52 58.4 %
EPS (Riyal) 0.96 1.52 58.4 %

The company also reported a net profit after Zakat and tax of SAR 14.97 million in the third quarter of 2019 as compared to SAR 9.5 million for the same quarter last year, up 57.4 percent YoY, on higher sales, decreased cost of sales and lower cost of financing.

 

On a sequential basis, Zahrat Al Waha posted a 47.6 percent rise in net profit on higher sales.



Current Quarter Comparison (M)

Compared With The
Item Q3 2018 Q3 2019 Change‬
Revenues 141.57 147.00 3.8 %
Gross Income 17.40 23.48 34.9 %
Operating Income 14.09 18.82 33.6 %
Net Income 9.52 14.97 57.4 %
Average Shares 22.50 22.50 -
Earnings Per Share before unusual items (Riyal) 0.42 0.67 57.4 %
EPS (Riyal) 0.42 0.67 57.4 %


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
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 89.69 - 22.80 - 19.74 -
Q4 2016 74.41 - 13.20 - 8.95 -
Q1 2017 84.28 - 18.85 - 15.28 -
Q2 2017 128.76 - 25.89 - 22.90 -
Q3 2017 121.75 35.8 % 22.65 (0.7 %) 17.33 (12.2 %)
Q4 2017 87.52 17.6 % 10.47 (20.7 %) 6.40 (28.5 %)
Q1 2018 97.77 16.0 % 10.70 (43.2 %) 7.42 (51.4 %)
Q2 2018 140.67 9.2 % 16.49 (36.3 %) 12.24 (46.5 %)
Q3 2018 141.57 16.3 % 17.40 (23.2 %) 14.09 (18.7 %)
Q4 2018 108.51 24.0 % 20.45 95.3 % 17.93 180.2 %
Q1 2019 129.89 32.9 % 16.80 57.0 % 13.40 80.6 %
Q2 2019 133.42 (5.2 %) 18.04 9.4 % 13.91 13.6 %
Q3 2019 147.00 3.8 % 23.48 34.9 % 18.82 33.6 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS(Riyal)
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 16.60 - 0.74 - 16.60 0.74
Q4 2016 1.65 - 0.07 (3.51) 5.16 0.23
Q1 2017 12.06 - 0.54 - 12.06 0.54
Q2 2017 17.21 - 0.76 - 17.21 0.76
Q3 2017 17.17 3.5 % 0.76 - 17.17 0.76
Q4 2017 0.45 (72.8 %) 0.02 - 0.45 0.02
Q1 2018 4.25 (64.8 %) 0.19 - 4.25 0.19
Q2 2018 7.85 (54.4 %) 0.35 - 7.85 0.35
Q3 2018 9.52 (44.6 %) 0.42 - 9.52 0.42
Q4 2018 13.05 2806.2 % 0.58 - 13.05 0.58
Q1 2019 9.13 114.8 % 0.41 - 9.13 0.41
Q2 2019 10.14 29.2 % 0.45 - 10.14 0.45
Q3 2019 14.97 57.4 % 0.67 - 14.97 0.67

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
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 - - -
Q4 2016 - - -
Q1 2017 - - -
Q2 2017 21.41 % 22.03 % 13.53 %
Q3 2017 19.69 % 21.09 % 12.61 %
Q4 2017 18.44 % 19.93 % 11.10 %
Q1 2018 16.00 % 17.58 % 8.97 %
Q2 2018 13.47 % 14.82 % 6.64 %
Q3 2018 11.78 % 13.57 % 4.72 %
Q4 2018 13.31 % 15.20 % 7.10 %
2018 13.31 % 15.20 % 7.10 %
Q1 2019 13.66 % 15.58 % 7.59 %
Q2 2019 14.16 % 16.27 % 8.15 %
Q3 2019 15.18 % 17.17 % 9.12 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Earnings Per Share before unusual items (Riyal) Book Value (BV)
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 22.50 - - 6.25
Q4 2016 22.50 - - 6.32
Q1 2017 22.50 - - 6.86
Q2 2017 22.50 2.11 2.27 7.62
Q3 2017 22.50 2.14 2.29 8.39
Q4 2017 22.50 2.08 2.08 8.41
Q1 2018 22.50 1.74 1.74 7.93
Q2 2018 22.50 1.32 1.32 7.62
Q3 2018 22.50 0.98 0.98 8.04
Q4 2018 22.50 1.54 1.54 8.57
Q1 2019 22.50 1.76 1.76 8.97
Q2 2019 22.50 1.86 1.86 8.76
Q3 2019 22.50 2.10 2.10 9.42

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Recurring P/E Price/book
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 - - -
Q4 2016 - - -
Q1 2017 - - -
Q2 2017 - - -
Q3 2017 16.70 15.57 4.26
Q4 2017 15.79 15.79 3.91
Q1 2018 17.92 17.92 3.92
Q2 2018 20.95 20.95 3.63
Q3 2018 24.95 24.95 3.04
Q4 2018 17.70 17.70 3.18
Q1 2019 15.55 15.55 3.05
Q2 2019 14.31 14.31 3.04
Q3 2019 14.34 14.34 3.20

Business Segments (Million)

Compared With The
Period Flasks sector Plastic covers sector
Q4 2016 65.84 8.58
Q1 2017 75.83 8.45
Q2 2017 110.81 17.95
Q3 2017 100.76 20.99
Q4 2017 76.80 10.72
Q1 2018 83.88 13.89
Q2 2018 119.58 21.09
Q3 2018 120.92 20.65
Q4 2018 94.88 13.63
Q1 2019 112.59 17.30
Q2 2019 112.71 20.71
Q3 2019 123.17 23.83

Analysts Estimates (Million)

Item Profit (Expected) Profit (Actual) Change
Average 13.00 14.97

Estimates vs Actual (Million)

Item Profit (Expected) Profit (Actual) Change‬
OSOOL AND BAKHEET 13.00 14.97


Financial Ratios
Current
Market Cap (M Riyal) 543.38
Enterprise Value (EV) (M Riyal) 697.98
Shares Outstanding ((M)) 22.50
EPS ( Riyal) (TTM) 0.09
Book Value (BV) ( Riyal) 12.44
Par Value ( Riyal) 10.00
Recurring P/E More than 100
P/E (TTM) More than 100
Price/book 1.94
Return on Average Assets (%) (TTM) 0.4
Return on Average Equity (%) (TTM) 0.7
EV/adj EBITDA 13.22
EV/Revenues 1.34
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Share Price

Zahrat Al Waha for Trading Co.
24.15
0.22 0.92 %

Zahrat Al Waha for Trading Co. (OASIS)

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