Financial Results : Saudi Industrial Dev posts SAR 30 mln loss in 2018

Saudi Industrial Dev posts SAR 30 mln loss in 2018

27/02/2019 Argaam Exclusive

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Saudi Industrial Development Co. posted SAR 30.1 million net loss after zakat and tax for the fiscal year of 2018 as compared to SAR 10.2 million loss in the same period in 2017.

 

Revenue for FY18 declined by 20.8 percent to SAR 190.1 million as against SAR 240.1 million in the same period in 2017.



Financials (M)

Item 2017 2018 Change‬
Revenues 240.14 190.14 (20.8 %)
Gross Income 34.51 28.73 (16.8 %)
Operating Income (22.69) (29.31) (29.2 %)
Net Income (10.21) (30.08) (194.6 %)
Average Shares 20.97 20.97 -
Earnings Per Share before unusual items (Riyals) (1.09) (1.43) (31.2 %)
EPS (Riyal) (0.49) (1.43) (194.6 %)


Current Quarter Comparison (M)

Compared With The
Item Q4 2017 Q4 2018 Change‬
Revenues 51.67 45.59 (11.8 %)
Gross Income 6.26 3.43 (45.2 %)
Operating Income (9.83) (17.31) (76.1 %)
Net Income 2.92 (20.23) (791.7 %)
Average Shares 20.97 20.97 -
Earnings Per Share before unusual items (Riyal) (0.46) (0.96) (110.9 %)
EPS (Riyal) 0.14 (0.96) (791.7 %)


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2009 51.84 (6.0 %) 6.99 (37.7 %) (3.00) (645.0 %)
Q2 2009 58.02 (12.3 %) 12.36 (5.9 %) 1.05 (46.5 %)
Q3 2009 60.79 (15.9 %) 13.07 25.3 % 3.14 294.1 %
Q4 2009 51.76 (8.9 %) 15.85 30.4 % 1.79 171.7 %
Q1 2010 52.62 1.5 % 12.19 74.5 % 2.13 170.8 %
Q2 2010 60.51 4.3 % 14.47 17.2 % 2.00 90.6 %
Q3 2010 64.95 6.8 % 17.70 35.5 % 5.58 78.0 %
Q4 2010 54.02 4.4 % 11.01 (30.6 %) (5.00) (380.2 %)
Q1 2011 64.36 22.3 % 15.94 30.8 % 4.52 112.4 %
Q2 2011 80.50 33.0 % 18.57 28.3 % 6.10 204.3 %
Q3 2011 82.51 27.0 % 26.05 47.1 % 12.29 120.1 %
Q4 2011 73.15 35.4 % 17.98 63.4 % 3.28 165.5 %
Q1 2012 75.20 16.8 % 23.07 44.7 % 10.33 128.8 %
Q2 2012 81.73 1.5 % 25.04 34.8 % 11.52 88.9 %
Q3 2012 84.68 2.6 % 25.10 (3.6 %) 9.73 (20.9 %)
Q4 2012 72.82 (0.4 %) 21.47 19.4 % 4.82 47.2 %
Q1 2013 79.81 6.1 % 23.39 1.4 % 6.84 (33.8 %)
Q2 2013 84.89 3.9 % 27.92 11.5 % 10.77 (6.5 %)
Q3 2013 86.34 2.0 % 27.42 9.2 % 9.20 (5.4 %)
Q4 2013 68.72 (5.6 %) 21.26 (0.9 %) 2.98 (38.3 %)
Q1 2014 75.07 (5.9 %) 22.35 (4.5 %) 3.50 (48.9 %)
Q2 2014 85.66 0.9 % 25.93 (7.1 %) 3.79 (64.8 %)
Q3 2014 87.12 0.9 % 24.31 (11.3 %) 4.76 (48.3 %)
Q4 2014 68.09 (0.9 %) 16.15 (24.0 %) (2.44) (182.1 %)
Q1 2015 79.01 5.2 % 24.17 8.1 % 5.59 59.9 %
Q2 2015 92.50 8.0 % 30.70 18.4 % 10.05 165.4 %
Q3 2015 84.70 (2.8 %) 27.88 14.7 % 7.06 48.3 %
Q4 2015 69.32 1.8 % 16.55 2.5 % (4.52) (85.0 %)
Q1 2016 67.44 (14.6 %) 17.17 (29.0 %) (1.57) (128.1 %)
Q2 2016 79.46 (14.1 %) 20.24 (34.1 %) 2.42 (75.9 %)
Q3 2016 67.05 (20.8 %) 17.36 (37.7 %) 2.20 (68.9 %)
Q4 2016 45.59 (34.2 %) 12.19 (26.3 %) (3.81) 15.6 %
Q1 2017 61.22 (9.2 %) 14.99 (12.7 %) 0.82 152.3 %
Q2 2017 62.04 (21.9 %) 6.54 (67.7 %) (10.13) (518.6 %)
Q3 2017 65.21 (2.7 %) 6.72 (61.3 %) (3.54) (261.4 %)
Q4 2017 51.67 13.3 % 6.26 (48.7 %) (9.83) (157.9 %)
Q1 2018 44.73 (26.9 %) 8.20 (45.3 %) (4.21) (613.8 %)
Q2 2018 51.10 (17.6 %) 9.78 49.6 % (2.89) 71.5 %
Q3 2018 48.72 (25.3 %) 7.33 9.0 % (4.89) (38.1 %)
Q4 2018 45.59 (11.8 %) 3.43 (45.2 %) (17.31) (76.1 %)
2018 190.14 (20.8 %) 28.73 (16.8 %) (29.31) (29.2 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS(Riyal)
Q1 2009 (2.75) (120.9 %) (0.13) - (2.75) (0.13)
Q2 2009 0.97 131.5 % 0.05 - 0.97 0.05
Q3 2009 0.13 102.7 % 0.01 - 0.13 0.01
Q4 2009 (1.83) (149.2 %) (0.09) - (1.83) (0.09)
Q1 2010 0.14 105.0 % 0.01 - 0.14 0.01
Q2 2010 101.10 10279.5 % 4.82 101.56 (0.47) (0.02)
Q3 2010 9.73 7328.2 % 0.46 4.58 5.15 0.25
Q4 2010 (10.36) (466.7 %) (0.49) 0.05 (10.41) (0.50)
Q1 2011 4.26 3008.8 % 0.20 - 4.26 0.20
Q2 2011 5.67 (94.4 %) 0.27 - 5.67 0.27
Q3 2011 12.09 24.3 % 0.58 - 12.09 0.58
Q4 2011 2.60 125.1 % 0.12 - 2.60 0.12
Q1 2012 9.15 114.8 % 0.44 - 9.15 0.44
Q2 2012 10.54 85.9 % 0.50 - 10.54 0.50
Q3 2012 8.90 (26.4 %) 0.42 - 8.90 0.42
Q4 2012 4.57 75.9 % 0.22 - 4.57 0.22
Q1 2013 6.55 (28.4 %) 0.31 - 6.55 0.31
Q2 2013 12.28 16.6 % 0.59 - 12.28 0.59
Q3 2013 9.12 2.5 % 0.43 - 9.12 0.43
Q4 2013 7.53 64.7 % 0.36 - 7.53 0.36
Q1 2014 23.77 262.9 % 1.13 7.90 15.87 0.76
Q2 2014 1.32 (89.3 %) 0.06 13.12 (11.81) (0.56)
Q3 2014 13.85 51.9 % 0.66 4.65 9.20 0.44
Q4 2014 (31.99) (524.7 %) (1.53) (0.83) (31.16) (1.49)
Q1 2015 4.74 (80.1 %) 0.23 - 4.74 0.23
Q2 2015 12.53 852.3 % 0.60 - 12.53 0.60
Q3 2015 (11.60) (183.7 %) (0.55) - (11.60) (0.55)
Q4 2015 (24.62) 23.0 % (1.17) (14.61) (10.01) (0.48)
Q1 2016 (8.56) (280.7 %) (0.41) - (8.56) (0.41)
Q2 2016 8.09 (35.5 %) 0.39 (4.87) 12.96 0.62
Q3 2016 (7.74) 33.2 % (0.37) (9.26) 1.51 0.07
Q4 2016 8.25 133.5 % 0.39 18.19 (9.94) (0.47)
Q1 2017 0.81 109.5 % 0.04 - 0.81 0.04
Q2 2017 (10.33) (227.7 %) (0.49) - (10.33) (0.49)
Q3 2017 (3.62) 53.3 % (0.17) - (3.62) (0.17)
Q4 2017 2.92 (64.5 %) 0.14 12.52 (9.59) (0.46)
Q1 2018 0.17 (79.3 %) 0.01 - 0.17 0.01
Q2 2018 (1.31) 87.3 % (0.06) - (1.31) (0.06)
Q3 2018 (8.71) (140.7 %) (0.42) - (8.71) (0.42)
Q4 2018 (20.23) (791.7 %) (0.96) - (20.23) (0.96)
2018 (30.08) (194.6 %) (1.43) - (30.08) (1.43)

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2009 17.28 % 5.52 % (2.84 %)
Q2 2009 17.55 % 5.13 % (1.24 %)
Q3 2009 19.59 % 6.24 % 0.91 %
Q4 2009 21.70 % 6.73 % (1.56 %)
Q1 2010 23.95 % 8.97 % (0.26 %)
Q2 2010 24.63 % 9.21 % (0.90 %)
Q3 2010 26.20 % 9.99 % 1.30 %
Q4 2010 23.86 % 6.85 % (2.41 %)
Q1 2011 24.25 % 7.41 % (0.60 %)
Q2 2011 23.96 % 8.26 % 1.77 %
Q3 2011 25.43 % 10.24 % 4.13 %
Q4 2011 26.13 % 12.45 % 8.19 %
Q1 2012 27.51 % 13.92 % 9.48 %
Q2 2012 29.47 % 15.73 % 11.00 %
Q3 2012 28.97 % 14.70 % 9.91 %
Q4 2012 30.11 % 15.19 % 10.54 %
Q1 2013 29.78 % 13.90 % 9.58 %
Q2 2013 30.38 % 13.51 % 10.03 %
Q3 2013 30.94 % 13.32 % 10.04 %
Q4 2013 31.27 % 12.94 % 11.10 %
Q1 2014 31.41 % 12.14 % 14.22 %
Q2 2014 30.70 % 9.94 % 6.56 %
Q3 2014 29.64 % 8.60 % 6.57 %
Q4 2014 28.08 % 7.04 % (5.66 %)
Q1 2015 28.31 % 7.76 % (9.08 %)
Q2 2015 29.18 % 9.66 % (1.44 %)
Q3 2015 30.50 % 10.65 % (7.86 %)
Q4 2015 30.50 % 10.04 % (1.33 %)
Q1 2016 29.40 % 7.96 % (5.62 %)
Q2 2016 27.19 % 5.63 % (5.72 %)
Q3 2016 25.18 % 4.04 % (1.45 %)
Q4 2016 25.80 % 4.40 % (1.55 %)
Q1 2017 25.57 % 5.49 % 2.11 %
Q2 2017 21.66 % 0.65 % (7.61 %)
Q3 2017 17.28 % (1.85 %) (9.86 %)
Q4 2017 14.37 % (4.38 %) (9.46 %)
2017 14.37 % (4.38 %) (9.55 %)
Q1 2018 12.39 % (7.09 %) (10.45 %)
Q2 2018 14.55 % (4.24 %) (6.75 %)
Q3 2018 16.08 % (4.62 %) (9.91 %)
Q4 2018 15.11 % (10.13 %) (15.82 %)
2018 15.11 % (10.13 %) (15.82 %)


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 20.97 (0.33) (0.33) 11.71
Q2 2009 20.97 (0.14) (0.14) 12.91
Q3 2009 20.97 0.10 0.10 13.88
Q4 2009 20.97 (0.17) (0.17) 13.86
Q1 2010 20.97 (0.03) (0.03) 14.71
Q2 2010 20.97 4.75 (0.10) 15.10
Q3 2010 20.97 5.20 0.14 15.90
Q4 2010 20.97 4.80 (0.27) 15.42
Q1 2011 20.97 4.99 (0.07) 15.63
Q2 2011 20.97 0.44 0.22 15.90
Q3 2011 20.97 0.56 0.55 16.17
Q4 2011 20.97 1.17 1.17 16.13
Q1 2012 20.97 1.41 1.41 16.56
Q2 2012 20.97 1.64 1.64 17.08
Q3 2012 20.97 1.49 1.49 17.48
Q4 2012 20.97 1.58 1.58 17.66
Q1 2013 20.97 1.46 1.46 17.88
Q2 2013 20.97 1.54 1.54 18.46
Q3 2013 20.97 1.55 1.55 18.90
Q4 2013 20.97 1.69 1.69 19.26
Q1 2014 20.97 2.51 2.14 20.21
Q2 2014 20.97 1.99 0.99 20.43
Q3 2014 20.97 2.22 0.99 21.10
Q4 2014 20.97 0.33 (0.85) 19.56
Q1 2015 20.97 (0.58) (1.38) 19.73
Q2 2015 20.97 (0.04) (0.22) 20.32
Q3 2015 20.97 (1.25) (1.22) 19.74
Q4 2015 20.97 (0.90) (0.21) 18.57
Q1 2016 20.97 (1.54) (0.84) 17.93
Q2 2016 20.97 (1.75) (0.82) 18.27
Q3 2016 20.97 (1.57) (0.20) 17.88
Q4 2016 20.97 0.00 (0.19) 17.25
Q1 2017 20.97 0.45 0.25 17.29
Q2 2017 20.97 (0.43) (0.86) 16.80
Q3 2017 20.97 (0.23) (1.10) 16.63
Q4 2017 20.97 (0.49) (1.08) 16.77
Q1 2018 20.97 (0.52) (1.11) 16.79
Q2 2018 20.97 (0.09) (0.68) 16.71
Q3 2018 20.97 (0.33) (0.93) 16.30
Q4 2018 20.97 (1.43) (1.43) 15.38

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Recurring P/E Price/book
Q1 2009 NEG NEG 1.98
Q2 2009 NEG NEG 2.12
Q3 2009 More than 100 More than 100 1.91
Q4 2009 NEG NEG 1.80
Q1 2010 NEG NEG 1.66
Q2 2010 5.12 NEG 1.61
Q3 2010 4.54 More than 100 1.49
Q4 2010 5.26 NEG 1.64
Q1 2011 5.99 NEG 1.91
Q2 2011 90.82 More than 100 2.53
Q3 2011 63.84 64.11 2.19
Q4 2011 32.68 32.68 2.38
Q1 2012 59.96 59.96 5.09
Q2 2012 24.73 24.73 2.37
Q3 2012 31.22 31.22 2.65
Q4 2012 28.15 28.15 2.52
Q1 2013 35.05 35.05 2.85
Q2 2013 27.39 27.39 2.28
Q3 2013 28.52 28.52 2.34
Q4 2013 31.96 31.96 2.81
Q1 2014 23.20 27.29 2.88
Q2 2014 28.68 57.77 2.79
Q3 2014 27.48 61.41 2.89
Q4 2014 More than 100 NEG 2.05
Q1 2015 NEG NEG 2.56
Q2 2015 NEG NEG 2.33
Q3 2015 NEG NEG 1.66
Q4 2015 NEG NEG 2.08
Q1 2016 NEG NEG 1.49
Q2 2016 NEG NEG 1.56
Q3 2016 NEG NEG 1.18
Q4 2016 More than 100 NEG 1.63
Q1 2017 72.43 More than 100 1.88
Q2 2017 NEG NEG 1.87
Q3 2017 NEG NEG 1.78
Q4 2017 NEG NEG 1.64
Q1 2018 NEG NEG 1.54
Q2 2018 NEG NEG 1.51
Q3 2018 NEG NEG 1.42
Q4 2018 NEG NEG 1.46

Business Segments (Million)

Compared With The
Period Mattresses & sponge sector Sanitary ware segment Sheet Iron Other unallocated amounts
Q1 2013 68.42 11.38 - -
Q2 2013 70.01 14.88 - -
Q3 2013 72.99 13.35 - -
Q4 2013 56.96 11.75 - -
Q1 2014 63.66 11.41 - -
Q2 2014 71.48 14.18 - -
Q3 2014 75.80 11.31 - -
Q4 2014 56.93 11.16 - -
Q1 2015 68.29 10.72 - -
Q2 2015 81.05 11.45 - -
Q3 2015 73.64 11.06 - -
Q4 2015 60.17 9.16 - -
Q1 2016 57.68 9.51 - 0.25
Q2 2016 70.76 8.96 - -
Q3 2016 60.75 6.30 - -
Q4 2016 39.54 6.05 - -
Q1 2017 53.19 8.03 - -
Q2 2017 54.94 7.09 - -
Q3 2017 58.79 6.42 - -
Q4 2017 43.63 8.04 - -
Q1 2018 37.98 6.75 - -
Q2 2018 44.25 6.85 - -
Q3 2018 42.47 6.25 - -
Q4 2018 39.14 6.46 - -


Financial Ratios
Current
Market Cap (M Riyal) 463.80
Enterprise Value (EV) (M Riyal) 507.43
Shares Outstanding ((M)) 30.00
EPS ( Riyal) (TTM) (1.08)
Book Value (BV) ( Riyal) 2.24
Par Value ( Riyal) 10.00
Recurring P/E Neg
P/E (TTM) NEG
Price/book 9.85
Return on Average Assets (%) (TTM) (12.81 )
Return on Average Equity (%) (TTM) (37.91 )
EV/adj EBITDA (37.37)
EV/Revenues 4.44
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Share Price

Saudi Industrial Development Co.
15.46
(0.41) (2.58 %)

Saudi Industrial Development Co. (SIDC)

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