Financial Results : Zamil Industrial swings to SAR 5.2 mln earnings in Q1 2021

Zamil Industrial swings to SAR 5.2 mln earnings in Q1 2021

22/04/2021 Argaam Exclusive

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Zamil Industrial Co. reported net profit after Zakat and tax of SAR 5.2 million in Q1 2021, versus net loss after Zakat and tax of SAR 28.8 million in prior-year period, driven by higher sales from the AC business division and higher gross as well as operating profit margins from AC and Insulation units.



Current Quarter Comparison (M)

Compared With The
Item Q1 2020 Q1 2021 Change‬
Revenues 880.28 949.18 7.8 %
Gross Income 118.55 138.03 16.4 %
Operating Income (9.13) 18.38 301.3 %
Net Income (28.83) 5.20 118.0 %
Average Shares 60.00 60.00 -
Earnings Per Share before unusual items (Riyal) (0.48) 0.09 118.0 %
EPS (Riyal) (0.48) 0.09 118.0 %

When compared to the previous quarter, the company swung to profit in Q1 2021, from SAR 34.25 million in losses in Q4 2020, on lower financing charges.



Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2012 1,102.10 14.0 % 240.61 9.0 % 70.81 18.7 %
Q2 2012 1,344.79 1.5 % 283.54 0.9 % 96.81 15.9 %
Q3 2012 1,281.54 9.8 % 273.15 5.3 % 83.16 14.7 %
Q4 2012 1,626.45 28.2 % 367.82 26.9 % 114.41 168.2 %
Q1 2013 1,242.94 12.8 % 299.76 24.6 % 97.17 37.2 %
Q2 2013 1,431.03 6.4 % 314.89 11.1 % 97.85 1.1 %
Q3 2013 1,374.40 7.2 % 316.78 16.0 % 87.92 5.7 %
Q4 2013 1,365.61 (16.0 %) 375.38 2.1 % 119.75 4.7 %
Q1 2014 1,292.86 4.0 % 305.51 1.9 % 94.92 (2.3 %)
Q2 2014 1,386.01 (3.1 %) 316.09 0.4 % 101.35 3.6 %
Q3 2014 1,290.68 (6.1 %) 311.69 (1.6 %) 89.71 2.0 %
Q4 2014 1,485.87 8.8 % 400.78 6.8 % 119.90 0.1 %
Q1 2015 1,258.95 (2.6 %) 305.42 0.0 % 97.49 2.7 %
Q2 2015 1,438.81 3.8 % 317.26 0.4 % 97.25 (4.1 %)
Q3 2015 1,338.31 3.7 % 308.04 (1.2 %) 86.22 (3.9 %)
Q4 2015 1,452.53 (2.2 %) 374.57 (6.5 %) 126.56 5.6 %
Q1 2016 1,223.17 (2.8 %) 281.32 (7.9 %) 78.66 (19.3 %)
Q2 2016 1,408.33 (2.1 %) 308.91 (2.6 %) 99.53 2.3 %
Q3 2016 1,099.22 (17.9 %) 241.85 (21.5 %) 73.91 (14.3 %)
Q4 2016 1,198.51 (17.5 %) 299.84 (19.9 %) 81.45 (35.6 %)
Q1 2017 997.94 (18.4 %) 209.59 (25.5 %) 64.31 (18.2 %)
Q2 2017 1,125.43 (20.1 %) 237.43 (23.1 %) 65.17 (34.5 %)
Q3 2017 1,023.00 (6.9 %) 195.24 (19.3 %) 41.08 (44.4 %)
Q4 2017 1,257.49 4.9 % 269.35 (10.2 %) 55.99 (31.3 %)
Q1 2018 970.00 (2.8 %) 177.03 (15.5 %) 43.32 (32.6 %)
Q2 2018 1,060.89 (5.7 %) 143.21 (39.7 %) (7.02) (110.8 %)
Q3 2018 1,074.18 5.0 % 163.36 (16.3 %) 6.98 (83.0 %)
Q4 2018 1,208.58 (3.9 %) 235.35 (12.6 %) 54.65 (2.4 %)
Q1 2019 1,020.98 5.3 % 127.76 (27.8 %) (6.00) (113.9 %)
Q2 2019 1,046.57 (1.4 %) 102.10 (28.7 %) (49.89) (611.1 %)
Q3 2019 1,096.44 2.1 % 144.07 (11.8 %) 6.22 (10.9 %)
Q4 2019 874.60 (27.6 %) 212.92 (9.5 %) 22.41 (59.0 %)
Q1 2020 880.28 (13.8 %) 118.55 (7.2 %) (9.13) (52.1 %)
Q2 2020 719.80 (31.2 %) 79.58 (22.1 %) (36.46) 26.9 %
Q3 2020 824.39 (24.8 %) 107.04 (25.7 %) (13.78) (321.7 %)
Q4 2020 958.49 9.6 % 141.19 (33.7 %) (2.01) (109.0 %)
Q1 2021 949.18 7.8 % 138.03 16.4 % 18.38 301.3 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS(Riyal)
Q1 2012 37.51 2.1 % 0.63 - 37.51 0.63
Q2 2012 55.77 16.4 % 0.93 - 55.77 0.93
Q3 2012 46.79 39.4 % 0.78 - 46.79 0.78
Q4 2012 61.39 70.7 % 1.02 - 61.39 1.02
Q1 2013 62.69 67.1 % 1.04 - 62.69 1.04
Q2 2013 63.60 14.0 % 1.06 - 63.60 1.06
Q3 2013 48.96 4.6 % 0.82 - 48.96 0.82
Q4 2013 60.11 (2.1 %) 1.00 - 60.11 1.00
Q1 2014 66.01 5.3 % 1.10 - 66.01 1.10
Q2 2014 73.02 14.8 % 1.22 - 73.02 1.22
Q3 2014 56.39 15.2 % 0.94 - 56.39 0.94
Q4 2014 64.92 8.0 % 1.08 (9.88) 74.80 1.25
Q1 2015 73.73 11.7 % 1.23 - 73.73 1.23
Q2 2015 74.36 1.8 % 1.24 - 74.36 1.24
Q3 2015 57.46 1.9 % 0.96 - 57.46 0.96
Q4 2015 57.45 (11.5 %) 0.96 (65.85) 123.30 2.06
Q1 2016 52.90 (28.3 %) 0.88 - 52.90 0.88
Q2 2016 51.22 (31.1 %) 0.85 - 51.22 0.85
Q3 2016 41.15 (28.4 %) 0.69 - 41.15 0.69
Q4 2016 1.11 (98.1 %) 0.02 (90.32) 91.43 1.52
Q1 2017 41.78 (21.0 %) 0.70 - 41.78 0.70
Q2 2017 36.45 (28.8 %) 0.61 - 36.45 0.61
Q3 2017 21.94 (46.7 %) 0.37 - 21.94 0.37
Q4 2017 4.85 337.1 % 0.08 (10.88) 15.73 0.26
Q1 2018 15.57 (62.7 %) 0.26 - 15.57 0.26
Q2 2018 (39.77) (209.1 %) (0.66) - (39.77) (0.66)
Q3 2018 (22.58) (202.9 %) (0.38) - (22.58) (0.38)
Q4 2018 (93.06) (2017.9 %) (1.55) (96.29) 3.23 0.05
Q1 2019 (47.15) (402.9 %) (0.79) - (47.15) (0.79)
Q2 2019 (49.55) (24.6 %) (0.83) 34.58 (84.14) (1.40)
Q3 2019 (28.13) (24.6 %) (0.47) - (28.13) (0.47)
Q4 2019 (13.97) 85.0 % (0.23) - (13.97) (0.23)
Q1 2020 (28.83) 38.9 % (0.48) - (28.83) (0.48)
Q2 2020 (58.31) (17.7 %) (0.97) - (58.31) (0.97)
Q3 2020 (38.50) (36.8 %) (0.64) - (38.50) (0.64)
Q4 2020 (34.25) (145.1 %) (0.57) (10.68) (23.57) (0.39)
Q1 2021 5.20 118.0 % 0.09 - 5.20 0.09

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2012 22.02 % 8.53 % 3.19 %
Q2 2012 21.99 % 8.65 % 3.33 %
Q3 2012 21.76 % 8.72 % 3.52 %
Q4 2012 21.76 % 9.60 % 3.76 %
Q1 2013 22.28 % 9.83 % 4.12 %
Q2 2013 22.49 % 9.71 % 4.20 %
Q3 2013 22.90 % 9.63 % 4.17 %
Q4 2013 24.14 % 10.06 % 4.35 %
Q1 2014 24.02 % 9.98 % 4.37 %
Q2 2014 24.24 % 10.24 % 4.58 %
Q3 2014 24.53 % 10.52 % 4.79 %
Q4 2014 24.45 % 10.36 % 4.95 %
Q1 2015 24.61 % 10.47 % 5.13 %
Q2 2015 24.39 % 10.36 % 5.10 %
Q3 2015 24.11 % 10.22 % 5.08 %
Q4 2015 23.78 % 10.38 % 5.99 %
Q1 2016 23.50 % 10.08 % 5.65 %
Q2 2016 23.47 % 10.07 % 5.25 %
Q3 2016 23.28 % 10.27 % 5.18 %
Q4 2016 22.96 % 9.76 % 4.80 %
Q1 2017 22.54 % 9.89 % 4.80 %
Q2 2017 22.36 % 9.67 % 4.77 %
Q3 2017 21.68 % 8.92 % 4.41 %
Q4 2017 20.70 % 8.18 % 2.63 %
Q1 2018 20.09 % 7.67 % 2.05 %
Q2 2018 18.20 % 6.04 % 0.31 %
Q3 2018 17.26 % 5.13 % (0.71 %)
Q4 2018 16.67 % 5.05 % (1.01 %)
Q1 2019 15.34 % 3.98 % (2.43 %)
Q2 2019 14.45 % 3.11 % (3.46 %)
Q3 2019 13.93 % 3.21 % (3.57 %)
Q4 2019 14.53 % 2.72 % (4.29 %)
Q1 2020 14.82 % 2.67 % (3.98 %)
Q2 2020 15.54 % 3.23 % (3.62 %)
Q3 2020 15.70 % 2.81 % (4.23 %)
Q4 2020 13.19 % 2.00 % (4.41 %)
2020 13.19 % 2.00 % (4.41 %)
Q1 2021 13.50 % 2.65 % (3.34 %)


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Earnings Per Share before unusual items (Riyal) Book Value (BV)
Q1 2012 60.00 2.58 2.58 23.22
Q2 2012 60.00 2.71 2.71 23.14
Q3 2012 60.00 2.93 2.93 23.25
Q4 2012 60.00 3.36 3.36 24.15
Q1 2013 60.00 3.78 3.78 25.12
Q2 2013 60.00 3.91 3.91 25.26
Q3 2013 60.00 3.94 3.94 25.37
Q4 2013 60.00 3.92 3.92 26.81
Q1 2014 60.00 3.98 3.98 27.95
Q2 2014 60.00 4.13 4.13 28.10
Q3 2014 60.00 4.26 4.26 28.01
Q4 2014 60.00 4.34 4.50 29.04
Q1 2015 60.00 4.47 4.63 30.27
Q2 2015 60.00 4.49 4.65 30.44
Q3 2015 60.00 4.51 4.67 30.36
Q4 2015 60.00 4.38 5.48 31.42
Q1 2016 60.00 4.04 5.13 28.75
Q2 2016 60.00 3.65 4.75 32.00
Q3 2016 60.00 3.38 4.48 31.67
Q4 2016 60.00 2.44 3.95 27.97
Q1 2017 60.00 2.25 3.76 28.79
Q2 2017 60.00 2.01 3.51 28.41
Q3 2017 60.00 1.69 3.19 27.77
Q4 2017 60.00 1.75 1.93 27.75
Q1 2018 60.00 1.31 1.49 27.81
Q2 2018 60.00 0.04 0.22 26.02
Q3 2018 60.00 (0.70) (0.52) 25.66
Q4 2018 60.00 (2.33) (0.73) 23.60
Q1 2019 60.00 (3.38) (1.77) 22.82
Q2 2019 60.00 (3.54) (2.51) 22.02
Q3 2019 60.00 (3.63) (2.60) 21.53
Q4 2019 60.00 (2.31) (2.89) 21.31
Q1 2020 60.00 (2.01) (2.58) 20.76
Q2 2020 60.00 (2.15) (2.15) 19.77
Q3 2020 60.00 (2.33) (2.33) 19.18
Q4 2020 60.00 (2.66) (2.49) 18.89
Q1 2021 60.00 (2.10) (1.92) 18.98

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Recurring P/E Price/book
Q1 2012 13.01 13.01 1.45
Q2 2012 10.43 10.43 1.22
Q3 2012 10.06 10.06 1.27
Q4 2012 9.38 9.38 1.30
Q1 2013 8.87 8.87 1.33
Q2 2013 10.47 10.47 1.62
Q3 2013 12.04 12.04 1.87
Q4 2013 11.09 11.09 1.62
Q1 2014 12.88 12.88 1.83
Q2 2014 13.81 13.81 2.03
Q3 2014 15.97 15.97 2.43
Q4 2014 10.83 10.44 1.62
Q1 2015 13.01 12.55 1.92
Q2 2015 12.58 12.14 1.86
Q3 2015 8.87 8.56 1.32
Q4 2015 7.43 5.94 1.04
Q1 2016 7.24 5.69 1.02
Q2 2016 7.70 5.92 0.88
Q3 2016 6.62 5.00 0.71
Q4 2016 12.71 7.86 1.11
Q1 2017 13.20 7.92 1.03
Q2 2017 13.97 7.99 0.99
Q3 2017 15.67 8.28 0.95
Q4 2017 15.35 13.91 0.97
Q1 2018 19.41 17.06 0.92
Q2 2018 More than 100 More than 100 0.93
Q3 2018 NEG NEG 0.78
Q4 2018 NEG NEG 0.74
Q1 2019 NEG NEG 0.78
Q2 2019 NEG NEG 0.77
Q3 2019 NEG NEG 0.83
Q4 2019 NEG NEG 0.85
Q1 2020 NEG NEG 0.66
Q2 2020 NEG NEG 0.78
Q3 2020 NEG NEG 1.03
Q4 2020 NEG NEG 1.10
Q1 2021 NEG NEG 1.24

Business Segments (Million)

Compared With The
Period Iron Industry Air conditioners Manufacture Construction Insulation materials industry Corporate & Others Eliminations Headquarters & Others
Q1 2012 628.69 349.88 28.13 95.40 - - -
Q2 2012 681.91 537.38 39.57 85.93 - - -
Q3 2012 660.32 508.89 41.48 70.70 - - 0.15
Q4 2012 718.44 788.41 47.27 70.93 - - 1.39
Q1 2013 647.71 474.88 - 71.77 - - 48.58
Q2 2013 657.97 648.27 - 75.26 - - 49.53
Q3 2013 655.39 602.72 - 74.09 - - 42.20
Q4 2013 736.22 502.51 - 77.52 - - 49.36
Q1 2014 658.11 502.69 - 73.96 - - 58.11
Q2 2014 637.54 610.58 - 78.32 - - 59.58
Q3 2014 571.21 601.45 - 74.93 - - 43.08
Q4 2014 668.66 749.08 - 65.73 - - 2.40
Q1 2015 628.68 547.19 - 81.12 - - 1.96
Q2 2015 650.62 698.85 - 87.67 - - 1.67
Q3 2015 694.71 569.05 - 73.52 - - 1.03
Q4 2015 709.80 661.12 - 79.08 - - 2.53
Q1 2016 640.12 496.61 - 85.22 6.27 (5.04) -
Q2 2016 629.07 692.41 - 85.58 6.85 (5.58) -
Q3 2016 544.81 475.69 - 77.21 6.39 (4.88) -
Q4 2016 548.25 576.34 - 98.78 8.44 (33.29) -
Q1 2017 508.55 407.19 - 84.88 7.27 (9.96) -
Q2 2017 485.96 566.05 - 74.75 2.22 (3.56) -
Q3 2017 445.42 506.96 - 71.33 3.78 (4.49) -
Q4 2017 529.71 664.59 - 68.63 5.73 (11.17) -
Q1 2018 482.42 412.20 - 77.11 3.50 (5.24) -
Q2 2018 530.63 456.20 - 75.93 4.80 (6.67) -
Q3 2018 516.27 487.31 - 69.71 3.32 (2.43) -
Q4 2018 611.40 528.46 - 79.40 4.35 (15.02) -
Q1 2019 560.36 374.14 - 87.65 2.79 (3.96) -
Q2 2019 585.70 391.14 - 71.88 2.43 (4.58) -
Q3 2019 544.56 495.14 - 61.24 1.27 (5.78) -
Q4 2019 334.80 493.44 - 67.93 1.21 (22.77) -
Q1 2020 472.09 349.68 - 64.34 1.07 (6.90) -
Q2 2020 322.16 363.40 - 36.41 1.15 (3.32) -
Q3 2020 407.42 371.16 - 54.61 0.08 (8.88) -
Q4 2020 442.43 467.57 - 55.57 0.20 (7.27) -
Q1 2021 499.76 395.51 - 56.95 0.24 (3.27) -


Financial Ratios
Current
Market Cap (M Riyal) 2,264.40
Enterprise Value (EV) (M Riyal) 4,186.07
Shares Outstanding ((M)) 60.00
EPS ( Riyal) (TTM) 1.07
Book Value (BV) ( Riyal) 8.35
Par Value ( Riyal) 10.00
Recurring P/E 25.36
P/E (TTM) 35.23
Price/book 4.52
Return on Average Assets (%) (TTM) 1.1
Return on Average Equity (%) (TTM) 13.6
EV/adj EBITDA 11.75
EV/Revenues 0.65
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Share Price

Zamil Industrial Investment Co.
37.74
0.36 0.96 %

Zamil Industrial Investment Co. (ZAMIL INDUST)

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