Aseer’s H1 net profit rises 7% to SAR 125 mln

13/07/2015 Argaam Exclusive

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Aseer Trading, Tourism and Manufacturing Co. reported a net profit of SAR 125.3 million for the first half of 2015, seven percent higher compared to the same period last year on the back of higher operating and gross profit, lower income tax provisions, lower zakat and reduced financing costs.

Financials (M)

Item	6m 2014	6m 2015	Change‬
Revenues	1,226.44	1,173.73	(4.3 %)
Gross Income	372.12	364.85	(2.0 %)
Operating Income	96.84	97.68	0.9 %
Net Income	117.10	125.33	7.0 %
Average Shares	126.39	126.39	-
EPS (Riyals)	0.93	0.99	7.0 %

Second-quarter net profit rose by 0.78 percent year-on-year to SAR 64.9 million due to a small increase in gross profit, as well as lower financing costs and Zakat and income tax provision.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2014	Q2 2015	Change‬
Revenues	624.98	580.59	(7.1 %)
Gross Income	187.07	181.00	(3.2 %)
Operating Income	52.87	48.92	(7.5 %)
Net Income	64.37	64.87	0.8 %
Average Shares	126.39	126.39	-
EPS (Riyals)	0.51	0.51	0.8 %

Item	Q1 2015	Q2 2015	Change‬
Revenues	593.14	580.59	(2.1 %)
Gross Income	183.85	181.00	(1.6 %)
Operating Income	48.76	48.92	0.3 %
Net Income	60.46	64.87	7.3 %
Average Shares	126.39	126.39	-
EPS (Riyals)	0.48	0.51	7.3 %

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
Q1 2006	338.77	21.8 %	86.44	20.0 %	75.33	14.6 %	0.60
Q2 2006	349.67	12.1 %	95.37	18.1 %	74.66	14.1 %	0.59
Q3 2006	348.71	13.2 %	98.03	13.9 %	81.24	4.3 %	0.64
Q4 2006	340.71	6.8 %	85.57	(1.6 %)	49.42	26.8 %	0.39
2006	1,377.86	13.2 %	365.40	12.2 %	280.65	13.1 %	2.22
Q1 2007	359.38	6.1 %	91.70	6.1 %	82.90	10.0 %	0.66
Q2 2007	366.62	4.8 %	96.71	1.4 %	56.56	(24.2 %)	0.45
Q3 2007	355.39	1.9 %	91.24	(6.9 %)	96.34	18.6 %	0.76
Q4 2007	400.75	17.6 %	91.49	6.9 %	127.15	157.3 %	1.01
2007	1,482.13	7.6 %	371.13	1.6 %	362.94	29.3 %	2.87
Q1 2008	397.39	10.6 %	95.82	4.5 %	(77.18)	(193.1 %)	(0.61)
Q2 2008	472.00	28.7 %	111.63	15.4 %	17.04	(69.9 %)	0.13
Q3 2008	428.97	20.7 %	97.62	7.0 %	(158.81)	(264.8 %)	(1.26)
Q4 2008	428.66	7.0 %	113.21	23.7 %	(215.05)	(269.1 %)	(1.70)
2008	1,727.03	16.5 %	418.28	12.7 %	(433.99)	(219.6 %)	(3.43)
Q1 2009	439.73	10.7 %	109.19	14.0 %	12.88	116.7 %	0.10
Q2 2009	438.15	(7.2 %)	128.67	15.3 %	21.17	24.2 %	0.17
Q3 2009	384.21	(10.4 %)	109.69	12.4 %	15.14	109.5 %	0.12
Q4 2009	450.76	5.2 %	128.99	13.9 %	30.59	114.2 %	0.24
2009	1,712.85	(0.8 %)	476.54	13.9 %	79.78	118.4 %	0.63
Q1 2010	491.37	11.7 %	135.70	24.3 %	20.38	58.2 %	0.16
Q2 2010	492.03	12.3 %	150.32	16.8 %	25.57	20.8 %	0.20
Q3 2010	442.40	15.1 %	133.16	21.4 %	15.10	(0.2 %)	0.12
Q4 2010	502.15	11.4 %	145.57	12.9 %	23.80	(22.2 %)	0.19
2010	1,927.96	12.6 %	564.75	18.5 %	84.85	6.3 %	0.67
Q1 2011	480.90	(2.1 %)	135.78	0.1 %	24.68	21.1 %	0.20
Q2 2011	523.09	6.3 %	149.94	(0.3 %)	30.57	19.6 %	0.24
Q3 2011	494.99	11.9 %	130.29	(2.2 %)	20.25	34.1 %	0.16
Q4 2011	505.24	0.6 %	154.29	6.0 %	23.28	(2.2 %)	0.18
2011	2,004.21	4.0 %	570.30	1.0 %	97.93	15.4 %	0.77
Q1 2012	522.07	8.6 %	150.73	11.0 %	29.99	21.5 %	0.24
Q2 2012	532.01	1.7 %	160.59	7.1 %	22.13	(27.6 %)	0.18
Q3 2012	536.54	8.4 %	157.11	20.6 %	25.10	23.9 %	0.20
Q4 2012	530.27	5.0 %	169.41	9.8 %	33.85	45.4 %	0.27
2012	2,120.90	5.8 %	639.33	12.1 %	110.95	13.3 %	0.88
Q1 2013	576.88	10.5 %	186.60	23.8 %	33.39	11.3 %	0.26
Q2 2013	577.62	8.6 %	176.47	9.9 %	29.14	31.6 %	0.23
Q3 2013	561.28	4.6 %	157.30	0.1 %	28.87	15.0 %	0.23
Q4 2013	571.16	7.7 %	163.70	(3.4 %)	40.57	19.9 %	0.32
2013	2,286.93	7.8 %	684.07	7.0 %	131.97	18.9 %	1.04
Q1 2014	601.46	4.3 %	185.05	(0.8 %)	52.73	57.9 %	0.42
Q2 2014	624.98	8.2 %	187.07	6.0 %	64.37	120.9 %	0.51
Q3 2014	607.08	8.2 %	173.79	10.5 %	32.92	14.0 %	0.26
Q4 2014	604.72	5.9 %	193.67	18.3 %	36.24	(10.7 %)	0.29
2014	2,438.23	6.6 %	739.42	8.1 %	184.78	40.0 %	1.46
Q1 2015	593.14	(1.4 %)	183.85	(0.6 %)	60.46	14.7 %	0.48
Q2 2015	580.59	(7.1 %)	181.00	(3.2 %)	64.87	0.8 %	0.51

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
2005	1,217.13	14.6 %	325.78	14.0 %	248.10	79.1 %	1.96
2006	1,377.86	13.2 %	365.40	12.2 %	280.65	13.1 %	2.22
2007	1,482.13	7.6 %	371.13	1.6 %	362.94	29.3 %	2.87
2008	1,727.03	16.5 %	418.28	12.7 %	(433.99)	(219.6 %)	(3.43)
2009	1,712.85	(0.8 %)	476.54	13.9 %	79.78	118.4 %	0.63
2010	1,927.96	12.6 %	564.75	18.5 %	84.85	6.3 %	0.67
2011	2,004.21	4.0 %	570.30	1.0 %	97.93	15.4 %	0.77
2012	2,120.90	5.8 %	639.33	12.1 %	110.95	13.3 %	0.88
2013	2,286.93	7.8 %	684.07	7.0 %	131.97	18.9 %	1.04
2014	2,438.23	6.6 %	739.42	8.1 %	184.78	40.0 %	1.46

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2006	26.63 %	9.71 %	20.17 %
Q2 2006	26.97 %	10.39 %	20.29 %
Q3 2006	27.05 %	10.00 %	19.92 %
Q4 2006	26.52 %	8.90 %	20.37 %
2006	26.52 %	8.90 %	20.37 %
Q1 2007	26.50 %	8.66 %	20.61 %
Q2 2007	26.28 %	8.81 %	19.08 %
Q3 2007	25.68 %	8.36 %	20.06 %
Q4 2007	25.04 %	8.27 %	24.49 %
2007	25.04 %	8.27 %	24.49 %
Q1 2008	24.69 %	8.47 %	13.35 %
Q2 2008	24.00 %	7.99 %	10.05 %
Q3 2008	23.34 %	7.85 %	(5.40 %)
Q4 2008	24.22 %	8.52 %	(25.13 %)
2008	24.22 %	8.52 %	(25.13 %)
Q1 2009	24.40 %	8.59 %	(19.44 %)
Q2 2009	25.85 %	9.44 %	(19.58 %)
Q3 2009	27.25 %	10.23 %	(9.81 %)
Q4 2009	27.82 %	10.12 %	4.66 %
2009	27.82 %	10.12 %	4.66 %
Q1 2010	28.51 %	10.72 %	4.95 %
Q2 2010	28.86 %	10.93 %	5.04 %
Q3 2010	29.21 %	11.01 %	4.88 %
Q4 2010	29.29 %	11.52 %	4.40 %
2010	29.29 %	11.52 %	4.40 %
Q1 2011	29.46 %	11.31 %	4.65 %
Q2 2011	28.97 %	10.77 %	4.83 %
Q3 2011	28.06 %	10.32 %	4.96 %
Q4 2011	28.45 %	9.83 %	4.93 %
2011	28.45 %	9.82 %	4.89 %
Q1 2012	28.61 %	9.75 %	5.09 %
Q2 2012	29.01 %	10.19 %	4.66 %
Q3 2012	29.71 %	10.87 %	4.80 %
Q4 2012	30.07 %	11.68 %	5.24 %
2012	30.14 %	11.55 %	5.23 %
Q1 2013	30.96 %	12.33 %	5.26 %
Q2 2013	31.04 %	12.37 %	5.47 %
Q3 2013	30.71 %	11.85 %	5.58 %
Q4 2013	29.91 %	11.74 %	5.77 %
2013	29.91 %	11.74 %	5.77 %
Q1 2014	29.53 %	11.22 %	6.55 %
Q2 2014	29.38 %	10.99 %	7.91 %
Q3 2014	29.51 %	11.11 %	7.93 %
Q4 2014	30.33 %	11.16 %	8.66 %
2014	30.33 %	11.12 %	8.60 %
Q1 2015	30.39 %	11.42 %	8.87 %
Q2 2015	30.70 %	11.52 %	8.82 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2005	26.77 %	10.12 %	20.38 %
2006	26.52 %	8.90 %	20.37 %
2007	25.04 %	8.27 %	24.49 %
2008	24.22 %	8.52 %	(25.13 %)
2009	27.82 %	10.12 %	4.66 %
2010	29.29 %	11.52 %	4.40 %
2011	28.45 %	9.82 %	4.89 %
2012	30.14 %	11.55 %	5.23 %
2013	29.91 %	11.74 %	5.77 %
2014	30.33 %	11.12 %	8.60 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2006	25.51 %	8.76 %	22.24 %
Q2 2006	27.27 %	10.40 %	21.35 %
Q3 2006	28.11 %	10.54 %	23.30 %
Q4 2006	25.11 %	5.83 %	14.50 %
Q1 2007	25.52 %	7.82 %	23.07 %
Q2 2007	26.38 %	10.90 %	15.43 %
Q3 2007	25.67 %	8.72 %	27.11 %
Q4 2007	22.83 %	5.87 %	31.73 %
Q1 2008	24.11 %	8.62 %	(19.42 %)
Q2 2008	23.65 %	8.72 %	3.61 %
Q3 2008	22.76 %	8.03 %	(37.02 %)
Q4 2008	26.41 %	8.70 %	(50.17 %)
Q1 2009	24.83 %	8.89 %	2.93 %
Q2 2009	29.37 %	12.10 %	4.83 %
Q3 2009	28.55 %	11.34 %	3.94 %
Q4 2009	28.62 %	8.37 %	6.79 %
Q1 2010	27.62 %	11.16 %	4.15 %
Q2 2010	30.55 %	12.74 %	5.20 %
Q3 2010	30.10 %	11.60 %	3.41 %
Q4 2010	28.99 %	10.60 %	4.74 %
Q1 2011	28.23 %	10.32 %	5.13 %
Q2 2011	28.66 %	10.67 %	5.84 %
Q3 2011	26.32 %	9.68 %	4.09 %
Q4 2011	30.54 %	8.64 %	4.61 %
Q1 2012	28.87 %	9.98 %	5.75 %
Q2 2012	30.19 %	12.35 %	4.16 %
Q3 2012	29.28 %	12.37 %	4.68 %
Q4 2012	31.95 %	11.98 %	6.38 %
Q1 2013	32.35 %	12.61 %	5.79 %
Q2 2013	30.55 %	12.50 %	5.04 %
Q3 2013	28.03 %	10.29 %	5.14 %
Q4 2013	28.66 %	11.51 %	7.10 %
Q1 2014	30.77 %	10.57 %	8.77 %
Q2 2014	29.93 %	11.54 %	10.30 %
Q3 2014	28.63 %	10.84 %	5.42 %
Q4 2014	32.03 %	11.69 %	10.13 %
Q1 2015	31.00 %	11.63 %	9.61 %
Q2 2015	31.17 %	11.93 %	10.19 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2006	126.39	2.04	2.04	15.03
Q2 2006	126.39	2.11	2.11	17.90
Q3 2006	126.39	2.14	2.14	18.41
Q4 2006	126.39	2.22	2.22	13.44
Q1 2007	126.39	2.28	2.28	13.33
Q2 2007	126.39	2.14	2.14	22.55
Q3 2007	126.39	2.26	2.26	23.60
Q4 2007	126.39	2.87	2.87	26.55
Q1 2008	126.39	1.61	1.61	24.55
Q2 2008	126.39	1.29	1.29	24.82
Q3 2008	126.39	(0.73)	(0.73)	21.53
Q4 2008	126.39	(3.43)	(3.43)	18.30
Q1 2009	126.39	(2.72)	(2.72)	18.28
Q2 2009	126.39	(2.69)	(2.69)	19.01
Q3 2009	126.39	(1.31)	(1.31)	19.21
Q4 2009	126.39	0.63	0.63	19.11
Q1 2010	126.39	0.69	0.69	19.40
Q2 2010	126.39	0.73	0.73	18.19
Q3 2010	126.39	0.73	0.73	18.16
Q4 2010	126.39	0.67	0.67	18.12
Q1 2011	126.39	0.71	0.71	18.21
Q2 2011	126.39	0.74	0.74	18.03
Q3 2011	126.39	0.79	0.79	17.55
Q4 2011	126.39	0.78	0.78	17.93
Q1 2012	126.39	0.82	0.82	20.62
Q2 2012	126.39	0.76	0.76	18.39
Q3 2012	126.39	0.80	0.80	18.82
Q4 2012	126.39	0.88	0.88	19.08
Q1 2013	126.39	0.91	0.91	19.55
Q2 2013	126.39	0.96	0.96	18.92
Q3 2013	126.39	0.99	0.99	19.61
Q4 2013	126.39	1.04	1.04	20.37
Q1 2014	126.39	1.20	1.20	22.05
Q2 2014	126.39	1.48	1.48	21.10
Q3 2014	126.39	1.51	1.51	22.42
Q4 2014	126.39	1.47	1.67	20.64
Q1 2015	126.39	1.53	1.71	21.25
Q2 2015	126.39	1.54	1.66	21.29

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2005	126.39	1.96	1.96	15.56
2006	126.39	2.22	2.22	13.44
2007	126.39	2.87	2.87	26.55
2008	126.39	(3.43)	(3.43)	18.30
2009	126.39	0.63	0.63	19.11
2010	126.39	0.67	0.67	18.12
2011	126.39	0.77	0.77	17.93
2012	126.39	0.88	0.88	19.08
2013	126.39	1.04	1.04	20.37
2014	126.39	1.46	1.66	20.64

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2006	66.11	66.11	8.97
Q2 2006	66.67	66.67	7.86
Q3 2006	60.30	60.30	7.00
Q4 2006	18.95	18.95	3.13
Q1 2007	17.35	17.35	2.97
Q2 2007	14.15	14.15	1.34
Q3 2007	14.40	14.40	1.38
Q4 2007	14.71	14.71	1.59
Q1 2008	21.96	21.96	1.44
Q2 2008	24.57	24.57	1.28
Q3 2008	NEG	NEG	0.83
Q4 2008	NEG	NEG	0.54
Q1 2009	NEG	NEG	0.63
Q2 2009	NEG	NEG	0.78
Q3 2009	NEG	NEG	0.84
Q4 2009	24.08	24.08	0.80
Q1 2010	22.88	22.88	0.81
Q2 2010	17.92	17.92	0.71
Q3 2010	18.13	18.13	0.72
Q4 2010	20.18	20.18	0.75
Q1 2011	18.71	18.71	0.72
Q2 2011	18.06	18.06	0.75
Q3 2011	15.34	15.34	0.69
Q4 2011	19.96	19.96	0.87
Q1 2012	27.14	27.14	1.08
Q2 2012	20.41	20.41	0.84
Q3 2012	20.81	20.81	0.88
Q4 2012	18.83	18.83	0.87
Q1 2013	19.16	19.16	0.89
Q2 2013	18.47	18.47	0.94
Q3 2013	19.27	19.27	0.97
Q4 2013	22.27	22.27	1.14
Q1 2014	21.30	21.30	1.16
Q2 2014	20.60	20.60	1.44
Q3 2014	23.36	23.36	1.57
Q4 2014	16.05	14.15	1.15
Q1 2015	17.61	15.85	1.27
Q2 2015	18.39	17.00	1.33

Period	P/E	Adjusted P/E	Price/book
2005	More than 100	More than 100	12.72
2006	18.95	18.95	3.13
2007	14.71	14.71	1.59
2008	NEG	NEG	0.54
2009	24.08	24.08	0.80
2010	20.18	20.18	0.75
2011	20.13	20.13	0.87
2012	18.85	18.85	0.87
2013	22.27	22.27	1.14
2014	16.18	14.25	1.15

Business Segments (Million)

Compared With The

Period	The industrial sector	Investments

Financial Ratios

	Current
Market Cap (M Riyal)	1,617.78
Enterprise Value (EV) (M)	2,421.32
Shares Outstanding ((M))	126.39
EPS ( Riyal) (TTM)	(0.99)
Book Value (BV) ( Riyal)	8.27
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	Neg
P/E (TTM)	NEG
Price/book	1.55
Return on Average Assets (%) (TTM)	(4.82 )
Return on Average Equity (%) (TTM)	(11.18 )

Sinad Holding Co. (SINAD HOLDING)

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Aseer’s H1 net profit rises 7% to SAR 125 mln

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Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

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Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million)

Revenue by Business Segment (Latest) 2015 Q2

Financial Ratios

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Sinad Holding Co. (SINAD HOLDING)

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Aseer’s H1 net profit rises 7% to SAR 125 mln

View other reports

Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million) 2015

Revenue by Business Segment (Latest) 2015 Q2

Financial Ratios

Share Price

Sinad Holding Co. (SINAD HOLDING)

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Business Segments (Million)