Alujain’s H1 net profit slips to SAR 41 mln

19/09/2017 Argaam Exclusive

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Alujain Corp.’s net profit for the first half of 2017 slipped to SAR 41.35 million from SAR 41.37 million in the year ago period, despite lower operating expenses and decreased financing costs.



Financials (M)

Item 6m 2016 6m 2017 Change‬
Revenues 661.35 14.38 (97.8 %)
Gross Income 165.22 4.16 (97.5 %)
Operating Income 118.35 (5.57) (104.7 %)
Net Income 41.37 41.35 (0.1 %)
Average Shares 69.20 69.20 -
EPS (Riyals) 0.60 0.60 (0.1 %)

The company’s Q2profit fell 68 percent to SAR 12.49 million compared to the same period last year mainly due to lower sales volumes of polypropylene on the scheduled shutdown of NATPET petrochemical plant.

 

Profit for the quarter declined 57 percent when compared to the previous quarter’s profit of SAR 28.85 million.



Current Quarter Comparison (M)

Compared With The
Item Q2 2016 Q2 2017 Change‬
Revenues 355.75 7.96 (97.8 %)
Gross Income 113.66 2.52 (97.8 %)
Operating Income 89.41 (2.46) (102.7 %)
Net Income 38.61 12.49 (67.6 %)
Average Shares 69.20 69.20 -
EPS (Riyals) 0.56 0.18 (67.6 %)


Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Riyal)
Q1 2008 - - - - (13.07) (510.1 %) (0.19)
Q2 2008 - - - - (11.64) (170.2 %) (0.17)
Q3 2008 - - - - (10.17) 27.1 % (0.15)
Q4 2008 - - - - (30.22) (58.7 %) (0.44)
Q1 2009 - - - - (10.83) 17.2 % (0.16)
Q2 2009 - - - - (9.04) 22.4 % (0.13)
Q3 2009 - - - - (9.94) 2.3 % (0.14)
Q4 2009 - - - - 2.53 108.4 % 0.04
Q1 2010 - - - - (6.67) 38.4 % (0.10)
Q2 2010 - - - - (7.28) 19.5 % (0.11)
Q3 2010 313.42 - 64.14 - 16.44 265.5 % 0.24
Q4 2010 538.71 - 114.88 - 39.69 1471.8 % 0.57
Q1 2011 375.03 - 57.22 - 11.39 270.8 % 0.16
Q2 2011 304.45 - 15.06 - (19.33) (165.6 %) (0.28)
Q3 2011 477.44 52.3 % 84.34 31.5 % 22.80 38.7 % 0.33
Q4 2011 314.95 (41.5 %) 2.20 (98.1 %) (24.82) (162.5 %) (0.36)
Q1 2012 561.81 49.8 % 63.15 10.4 % 9.60 (15.8 %) 0.14
Q2 2012 490.50 61.1 % 78.12 418.9 % 14.36 174.3 % 0.21
Q3 2012 522.58 9.5 % 64.47 (23.6 %) 10.61 (53.5 %) 0.15
Q4 2012 537.05 70.5 % 86.67 3846.9 % 17.12 169.0 % 0.25
Q1 2013 271.41 (51.7 %) 19.34 (69.4 %) (15.89) (265.6 %) (0.23)
Q2 2013 521.09 6.2 % 102.07 30.7 % 34.94 143.3 % 0.50
Q3 2013 496.85 (4.9 %) 110.98 72.1 % 56.96 437.1 % 0.82
Q4 2013 586.85 9.3 % 111.46 28.6 % 33.82 97.5 % 0.49
Q1 2014 452.75 66.8 % 68.61 254.8 % 14.77 193.0 % 0.21
Q2 2014 559.46 7.4 % 87.52 (14.3 %) 52.57 50.5 % 0.76
Q3 2014 547.50 10.2 % 114.55 3.2 % 34.85 (38.8 %) 0.50
Q4 2014 572.98 (2.4 %) 163.48 46.7 % 65.19 92.8 % 0.94
Q1 2015 220.70 (51.3 %) 15.04 (78.1 %) (16.83) (213.9 %) (0.24)
Q2 2015 426.38 (23.8 %) 136.74 56.2 % 50.18 (4.5 %) 0.73
Q3 2015 412.62 (24.6 %) 129.69 13.2 % 45.56 30.7 % 0.66
Q4 2015 400.80 (30.0 %) 92.03 (43.7 %) 27.47 (57.9 %) 0.40
Q1 2016 305.60 38.5 % 51.56 242.8 % 2.76 116.4 % 0.04
Q2 2016 355.75 (16.6 %) 113.66 (16.9 %) 38.61 (23.1 %) 0.56
Q3 2016 - - - - 36.82 (19.2 %) 0.53
Q4 2016 441.61 10.2 % 106.39 15.6 % 35.75 30.1 % 0.52
Q1 2017 6.42 (97.9 %) 1.64 (96.8 %) 28.85 945.0 % 0.42
Q2 2017 7.96 (97.8 %) 2.52 (97.8 %) 12.49 (67.6 %) 0.18

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2008 - - -
Q2 2008 - - -
Q3 2008 - - -
Q4 2008 - - -
Q1 2009 - - -
Q2 2009 - - -
Q3 2009 - - -
Q4 2009 - - -
Q1 2010 - - -
Q2 2010 - - -
Q3 2010 20.46 % 6.33 % (2.00 %)
Q4 2010 21.01 % 19.94 % 3.62 %
Q1 2011 19.25 % 21.11 % 3.99 %
Q2 2011 16.41 % 20.65 % 3.15 %
Q3 2011 16.01 % 20.87 % 3.22 %
Q4 2011 10.79 % 16.82 % (0.68 %)
Q1 2012 9.93 % 15.21 % (0.71 %)
Q2 2012 12.35 % 16.96 % 1.19 %
Q3 2012 11.00 % 15.44 % 0.52 %
Q4 2012 13.85 % 19.00 % 2.45 %
Q1 2013 13.65 % 20.08 % 1.44 %
Q2 2013 14.72 % 21.57 % 2.53 %
Q3 2013 17.47 % 24.82 % 4.13 %
Q4 2013 18.33 % 24.00 % 4.91 %
Q1 2014 19.11 % 24.32 % 5.97 %
Q2 2014 18.06 % 23.20 % 5.30 %
Q3 2014 17.80 % 22.74 % 4.97 %
Q4 2014 20.36 % 25.29 % 6.47 %
Q1 2015 20.02 % 25.57 % 5.60 %
Q2 2015 24.32 % 30.57 % 7.55 %
Q3 2015 27.25 % 34.52 % 8.83 %
Q4 2015 25.57 % 34.60 % 7.28 %
Q1 2016 26.53 % 34.30 % 8.15 %
Q2 2016 26.24 % 34.67 % 7.76 %
Q3 2016 24.22 % 22.88 % 9.95 %
Q4 2016 24.63 % 37.91 % 10.33 %
Q1 2017 27.58 % 43.11 % 17.42 %
Q2 2017 24.24 % 42.30 % 24.98 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2008 69.20 (0.73) (0.73) 8.89
Q2 2008 69.20 (0.83) (0.83) 9.05
Q3 2008 69.20 (0.78) (0.78) 8.61
Q4 2008 69.20 (0.94) (0.94) 7.45
Q1 2009 69.20 (0.91) (0.91) 7.40
Q2 2009 69.20 (0.87) (0.87) 7.67
Q3 2009 69.20 (0.87) (0.87) 7.47
Q4 2009 69.20 (0.39) (0.39) 7.49
Q1 2010 69.20 (0.33) (0.33) 7.32
Q2 2010 69.20 (0.31) (0.47) 7.17
Q3 2010 69.20 0.07 (0.09) 7.25
Q4 2010 69.20 0.61 0.45 8.01
Q1 2011 69.20 0.87 0.71 8.30
Q2 2011 69.20 0.70 0.70 8.02
Q3 2011 69.20 0.79 0.79 8.27
Q4 2011 69.20 (0.14) (0.14) 8.05
Q1 2012 69.20 (0.17) (0.17) 8.19
Q2 2012 69.20 0.32 0.32 8.47
Q3 2012 69.20 0.14 0.14 8.62
Q4 2012 69.20 0.75 0.75 8.98
Q1 2013 69.20 0.38 0.38 8.78
Q2 2013 69.20 0.68 0.68 9.39
Q3 2013 69.20 1.35 1.09 10.23
Q4 2013 69.20 1.59 1.33 10.81
Q1 2014 69.20 2.03 1.77 10.99
Q2 2014 69.20 2.28 1.61 11.78
Q3 2014 69.20 1.97 1.54 12.32
Q4 2014 69.20 2.42 2.00 13.26
Q1 2015 69.20 1.96 1.54 12.97
Q2 2015 69.20 1.93 1.93 13.78
Q3 2015 69.20 2.08 2.08 14.44
Q4 2015 69.20 1.54 1.54 14.99
Q1 2016 69.20 1.82 1.82 15.03
Q2 2016 69.20 1.65 1.65 15.67
Q3 2016 69.20 1.53 1.53 16.25
Q4 2016 69.20 1.65 1.65 16.75
Q1 2017 69.20 2.02 2.02 17.16
Q2 2017 69.20 1.65 1.65 16.33

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2008 NEG NEG 5.57
Q2 2008 NEG NEG 5.06
Q3 2008 NEG NEG 3.46
Q4 2008 NEG NEG 1.45
Q1 2009 NEG NEG 1.51
Q2 2009 NEG NEG 2.63
Q3 2009 NEG NEG 2.64
Q4 2009 NEG NEG 2.29
Q1 2010 NEG NEG 2.39
Q2 2010 NEG NEG 1.81
Q3 2010 More than 100 NEG 2.24
Q4 2010 36.58 49.97 2.78
Q1 2011 24.41 30.05 2.56
Q2 2011 30.37 30.37 2.64
Q3 2011 23.72 23.72 2.26
Q4 2011 NEG NEG 2.17
Q1 2012 NEG NEG 2.74
Q2 2012 45.89 45.89 1.72
Q3 2012 More than 100 More than 100 1.98
Q4 2012 18.48 18.48 1.54
Q1 2013 38.44 38.44 1.66
Q2 2013 21.82 21.82 1.57
Q3 2013 13.60 16.80 1.79
Q4 2013 15.88 18.94 2.33
Q1 2014 12.76 14.60 2.36
Q2 2014 10.38 14.78 2.01
Q3 2014 14.00 17.85 2.23
Q4 2014 6.70 8.12 1.22
Q1 2015 10.18 12.99 1.54
Q2 2015 10.93 10.93 1.53
Q3 2015 7.63 7.63 1.10
Q4 2015 9.37 9.37 0.96
Q1 2016 7.84 7.84 0.95
Q2 2016 7.88 7.88 0.83
Q3 2016 8.08 8.08 0.76
Q4 2016 11.94 11.94 1.17
Q1 2017 10.13 10.13 1.19
Q2 2017 13.36 13.36 1.35

Business Segments (Million)

Compared With The
Period Manufacturing home care products
Q1 2017 6.42
Q2 2017 7.96

Analysts Estimates (Million)

Item Q2 2017 (e) Q2 2017 (a) Change‬
Average 4.05 12.49 208.47 %

Estimates vs Actual (Million)

Item Q2 2017 (e) Q2 2017 (a) Change
OSOOL AND BAKHEET 4.10 12.49 204.7 %
Sico 4.00 12.49 212.3 %


Financial Ratios
Current
Market Cap (M Riyal) 2,795.68
Enterprise Value (EV) (M) 3,688.85
Shares Outstanding ((M)) 69.20
EPS ( Riyal) (TTM) (0.41)
Book Value (BV) ( Riyal) 43.54
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 0.93
Return on Average Assets (%) (TTM) (0.60 )
Return on Average Equity (%) (TTM) (1.02 )
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Share Price

Alujain Corp.
40.40
(0.60) (1.46 %)

Alujain Corp. (ALUJAIN)

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