SAPTCO’s net profit plunges 89% in Q1

09/05/2017 Argaam Exclusive

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Saudi Public Transport Co. (SAPTCO) reported a net profit of SAR 3.5 million, an 89.4 percent drop year-on-year (YoY), due to a decline in revenue, higher general and administrative expenses, and higher cost of finance.

On a sequential basis, Q1 net profit declined by 40 percent on lower revenue and a decrease in joint venture profit, in addition to higher cost of finance.

Current Quarter Comparison (M)

Compared With The

Item	Q1 2016	Q1 2017	Change‬
Revenues	257.00	228.99	(10.9 %)
Gross Income	44.33	15.70	(64.6 %)
Operating Income	16.81	(11.82)	(170.3 %)
Net Income	32.77	2.48	(92.4 %)
Average Shares	125.00	125.00	-
EPS (Riyals)	0.26	0.02	(92.4 %)

Item	Q4 2016	Q1 2017	Change‬
Revenues	234.88	228.99	(2.5 %)
Gross Income	26.75	15.70	(41.3 %)
Operating Income	(18.20)	(11.82)	35.1 %
Net Income	1.82	2.48	36.6 %
Average Shares	125.00	125.00	-
EPS (Riyals)	0.01	0.02	36.6 %

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
Q1 2008	140.91	(12.9 %)	5.50	(80.6 %)	(5.18)	(126.0 %)	(0.04)
Q2 2008	161.03	9.2 %	4.26	(70.5 %)	(49.32)	(3952.8 %)	(0.39)
Q3 2008	206.34	12.5 %	42.95	0.3 %	24.64	(29.8 %)	0.20
Q4 2008	258.19	7.8 %	72.88	50.9 %	59.96	31.3 %	0.48
2008	766.47	4.7 %	125.59	(6.2 %)	30.10	(70.5 %)	0.24
Q1 2009	145.40	3.2 %	5.86	6.6 %	(8.97)	(73.0 %)	(0.07)
Q2 2009	163.63	1.6 %	1.27	(70.3 %)	(7.11)	85.6 %	(0.06)
Q3 2009	204.48	(0.9 %)	26.96	(37.2 %)	6.01	(75.6 %)	0.05
Q4 2009	238.92	(7.5 %)	68.58	(5.9 %)	41.99	(30.0 %)	0.34
2009	752.43	(1.8 %)	102.67	(18.2 %)	31.93	6.1 %	0.26
Q1 2010	136.94	(5.8 %)	4.16	(29.0 %)	(8.52)	5.1 %	(0.07)
Q2 2010	165.76	1.3 %	16.87	1233.8 %	4.53	163.8 %	0.04
Q3 2010	205.35	0.4 %	30.79	14.2 %	9.22	53.4 %	0.07
Q4 2010	238.23	(0.3 %)	66.23	(3.4 %)	44.78	6.6 %	0.36
2010	746.27	(0.8 %)	118.05	15.0 %	50.02	56.6 %	0.40
Q1 2011	132.57	(3.2 %)	(18.30)	(539.9 %)	(31.07)	(264.9 %)	(0.25)
Q2 2011	191.05	15.3 %	36.32	115.3 %	19.92	339.5 %	0.16
Q3 2011	219.01	6.7 %	50.69	64.6 %	26.26	184.7 %	0.21
Q4 2011	267.34	12.2 %	71.91	8.6 %	50.16	12.0 %	0.40
2011	809.97	8.5 %	140.62	19.1 %	65.27	30.5 %	0.52
Q1 2012	167.03	26.0 %	10.16	155.5 %	6.72	121.6 %	0.05
Q2 2012	202.52	6.0 %	27.50	(24.3 %)	16.99	(14.7 %)	0.14
Q3 2012	239.32	9.3 %	43.28	(14.6 %)	16.83	(35.9 %)	0.13
Q4 2012	306.07	14.5 %	79.65	10.8 %	33.28	(33.7 %)	0.27
2012	914.93	13.0 %	160.59	14.2 %	73.82	13.1 %	0.59
Q1 2013	202.69	21.4 %	27.94	175.0 %	20.08	198.7 %	0.16
Q2 2013	257.03	26.9 %	55.86	103.1 %	36.21	113.1 %	0.29
Q3 2013	224.84	(6.1 %)	11.77	(72.8 %)	(13.11)	(177.9 %)	(0.10)
Q4 2013	283.29	(7.4 %)	78.77	(1.1 %)	34.40	3.4 %	0.28
2013	967.85	5.8 %	174.35	8.6 %	77.58	5.1 %	0.62
Q1 2014	231.31	14.1 %	41.48	48.4 %	21.10	5.1 %	0.17
Q2 2014	229.77	(10.6 %)	30.87	(44.7 %)	22.44	(38.0 %)	0.18
Q3 2014	272.83	21.3 %	44.97	281.9 %	23.79	281.5 %	0.19
Q4 2014	285.29	0.7 %	70.28	(10.8 %)	34.72	0.9 %	0.28
2014	1,019.20	5.3 %	187.59	7.6 %	102.05	31.5 %	0.82
Q1 2015	238.82	3.2 %	37.09	(10.6 %)	137.91	553.7 %	1.10
Q2 2015	252.93	10.1 %	30.08	(2.6 %)	12.82	(42.9 %)	0.10
Q3 2015	360.90	32.3 %	123.15	173.9 %	81.40	242.1 %	0.65
Q4 2015	248.06	(13.1 %)	36.83	(47.6 %)	(35.51)	(202.3 %)	(0.28)
2015	1,102.31	8.2 %	231.09	23.2 %	210.86	106.6 %	1.69
Q1 2016	257.00	7.6 %	44.33	19.5 %	32.77	(76.2 %)	0.26
Q2 2016	284.21	12.4 %	44.58	48.2 %	10.66	(16.9 %)	0.09
Q3 2016	375.56	4.1 %	125.18	1.6 %	87.25	7.2 %	0.70
Q4 2016	234.88	(5.3 %)	26.75	(27.4 %)	1.82	105.1 %	0.01
2016	1,151.64	4.5 %	240.85	4.2 %	132.49	(37.2 %)	1.06
Q1 2017	228.99	(10.9 %)	15.70	(64.6 %)	2.48	(92.4 %)	0.02

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
2007	732.35	2.3 %	133.86	(22.6 %)	101.98	(67.6 %)	0.82
2008	766.47	4.7 %	125.59	(6.2 %)	30.10	(70.5 %)	0.24
2009	752.43	(1.8 %)	102.67	(18.2 %)	31.93	6.1 %	0.26
2010	746.27	(0.8 %)	118.05	15.0 %	50.02	56.6 %	0.40
2011	809.97	8.5 %	140.62	19.1 %	65.27	30.5 %	0.52
2012	914.93	13.0 %	160.59	14.2 %	73.82	13.1 %	0.59
2013	967.85	5.8 %	174.35	8.6 %	77.58	5.1 %	0.62
2014	1,019.20	5.3 %	187.59	7.6 %	102.05	31.5 %	0.82
2015	1,102.31	8.2 %	231.09	23.2 %	210.86	106.6 %	1.69
2016	1,151.64	4.5 %	240.85	4.2 %	132.49	(37.2 %)	1.06

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2008	15.60 %	23.87 %	10.80 %
Q2 2008	13.91 %	21.87 %	8.08 %
Q3 2008	13.50 %	21.36 %	6.43 %
Q4 2008	16.39 %	23.42 %	8.14 %
2008	16.39 %	23.42 %	8.14 %
Q1 2009	16.34 %	22.72 %	7.61 %
Q2 2009	15.90 %	23.10 %	8.86 %
Q3 2009	13.86 %	21.02 %	6.47 %
Q4 2009	13.64 %	20.66 %	4.24 %
2009	13.64 %	20.66 %	4.24 %
Q1 2010	13.57 %	21.40 %	4.35 %
Q2 2010	15.62 %	24.08 %	5.90 %
Q3 2010	16.12 %	24.70 %	6.32 %
Q4 2010	15.82 %	26.19 %	6.70 %
2010	15.82 %	26.19 %	6.70 %
Q1 2011	12.88 %	23.15 %	3.51 %
Q2 2011	14.99 %	24.44 %	5.41 %
Q3 2011	17.28 %	26.00 %	7.48 %
Q4 2011	17.36 %	25.59 %	7.88 %
2011	17.36 %	25.59 %	7.88 %
Q1 2012	20.02 %	28.33 %	10.77 %
Q2 2012	18.72 %	27.41 %	10.19 %
Q3 2012	17.44 %	26.62 %	8.89 %
Q4 2012	17.55 %	24.11 %	6.57 %
2012	17.55 %	24.11 %	6.57 %
Q1 2013	18.76 %	25.40 %	8.00 %
Q2 2013	20.57 %	26.75 %	9.60 %
Q3 2013	17.69 %	24.37 %	6.72 %
Q4 2013	18.01 %	24.80 %	7.09 %
2013	18.01 %	24.80 %	7.09 %
Q1 2014	18.85 %	25.06 %	7.90 %
Q2 2014	16.81 %	23.25 %	5.53 %
Q3 2014	19.28 %	24.49 %	7.71 %
Q4 2014	18.41 %	24.73 %	7.67 %
2014	18.41 %	24.73 %	7.67 %
Q1 2015	17.84 %	22.59 %	7.46 %
Q2 2015	17.37 %	20.32 %	7.30 %
Q3 2015	22.90 %	24.08 %	12.53 %
Q4 2015	20.64 %	20.29 %	7.31 %
2015	20.96 %	21.61 %	8.59 %
Q1 2016	20.95 %	20.86 %	7.77 %
Q2 2016	21.64 %	21.07 %	7.43 %
Q3 2016	21.54 %	22.55 %	8.16 %
Q4 2016	20.91 %	22.32 %	10.84 %
2016	20.91 %	22.26 %	10.84 %
Q1 2017	18.89 %	21.02 %	9.06 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2007	18.28 %	25.95 %	13.93 %
2008	16.39 %	23.42 %	8.14 %
2009	13.64 %	20.66 %	4.24 %
2010	15.82 %	26.19 %	6.70 %
2011	17.36 %	25.59 %	7.88 %
2012	17.55 %	24.11 %	6.57 %
2013	18.01 %	24.80 %	7.09 %
2014	18.41 %	24.73 %	7.67 %
2015	20.96 %	21.61 %	8.59 %
2016	20.91 %	22.26 %	10.84 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2008	3.90 %	18.06 %	(3.68 %)
Q2 2008	2.64 %	10.44 %	(10.55 %)
Q3 2008	20.81 %	27.73 %	11.94 %
Q4 2008	28.23 %	31.01 %	23.22 %
Q1 2009	4.03 %	14.48 %	(6.17 %)
Q2 2009	0.77 %	12.47 %	(4.34 %)
Q3 2009	13.18 %	19.91 %	2.94 %
Q4 2009	28.71 %	30.66 %	17.58 %
Q1 2010	3.04 %	18.16 %	(6.22 %)
Q2 2010	10.18 %	24.62 %	2.73 %
Q3 2010	14.99 %	22.20 %	4.49 %
Q4 2010	27.80 %	35.33 %	18.80 %
Q1 2011	(13.81 %)	0.89 %	(24.51 %)
Q2 2011	19.01 %	29.62 %	10.46 %
Q3 2011	23.14 %	27.89 %	11.95 %
Q4 2011	26.90 %	33.08 %	18.76 %
Q1 2012	6.08 %	19.83 %	(3.21 %)
Q2 2012	13.58 %	25.66 %	8.03 %
Q3 2012	18.08 %	24.96 %	7.03 %
Q4 2012	26.02 %	24.77 %	10.58 %
Q1 2013	13.79 %	26.61 %	5.22 %
Q2 2013	21.73 %	30.87 %	14.28 %
Q3 2013	5.24 %	14.38 %	(5.83 %)
Q4 2013	27.81 %	26.26 %	12.14 %
Q1 2014	17.93 %	27.53 %	8.94 %
Q2 2014	13.44 %	23.92 %	5.04 %
Q3 2014	16.48 %	20.56 %	4.31 %
Q4 2014	24.63 %	27.11 %	11.96 %
Q1 2015	15.53 %	18.21 %	7.99 %
Q2 2015	11.89 %	14.39 %	4.62 %
Q3 2015	34.12 %	32.37 %	21.54 %
Q4 2015	14.85 %	10.75 %	(11.31 %)
Q1 2016	17.25 %	20.81 %	9.93 %
Q2 2016	15.69 %	15.98 %	3.63 %
Q3 2016	33.33 %	36.50 %	23.23 %
Q4 2016	11.39 %	8.98 %	0.77 %
Q1 2017	6.86 %	14.21 %	1.08 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2008	125.00	0.61	0.61	11.80
Q2 2008	125.00	0.21	0.47	10.96
Q3 2008	125.00	0.13	0.38	11.02
Q4 2008	125.00	0.24	0.50	11.31
Q1 2009	125.00	0.21	0.47	11.21
Q2 2009	125.00	0.55	0.55	10.71
Q3 2009	125.00	0.40	0.40	10.78
Q4 2009	125.00	0.26	0.26	11.10
Q1 2010	125.00	0.26	0.26	11.08
Q2 2010	125.00	0.35	0.35	11.09
Q3 2010	125.00	0.38	0.38	11.18
Q4 2010	125.00	0.40	0.40	11.56
Q1 2011	125.00	0.22	0.21	11.32
Q2 2011	125.00	0.34	0.33	10.98
Q3 2011	125.00	0.48	0.47	11.15
Q4 2011	125.00	0.52	0.51	11.59
Q1 2012	125.00	0.82	0.73	11.66
Q2 2012	125.00	0.80	0.70	11.22
Q3 2012	125.00	0.73	0.62	11.37
Q4 2012	125.00	0.59	0.48	11.66
Q1 2013	125.00	0.70	0.61	11.82
Q2 2013	125.00	0.85	0.77	11.59
Q3 2013	125.00	0.61	0.53	11.49
Q4 2013	125.00	0.62	0.55	11.76
Q1 2014	125.00	0.63	0.63	11.47
Q2 2014	125.00	0.52	0.43	11.59
Q3 2014	125.00	0.81	0.63	11.79
Q4 2014	125.00	0.82	0.63	11.95
Q1 2015	125.00	1.75	0.61	13.07
Q2 2015	125.00	1.67	0.61	11.97
Q3 2015	125.00	2.13	1.14	12.42
Q4 2015	125.00	1.57	0.64	12.18
Q1 2016	125.00	0.73	0.70	12.38
Q2 2016	125.00	0.71	0.68	12.02
Q3 2016	125.00	0.76	0.76	12.61
Q4 2016	125.00	1.06	1.00	12.82
Q1 2017	125.00	0.82	0.81	12.34

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2007	125.00	0.82	0.82	11.91
2008	125.00	0.24	0.50	11.31
2009	125.00	0.26	0.26	11.10
2010	125.00	0.40	0.40	11.56
2011	125.00	0.52	0.51	11.59
2012	125.00	0.59	0.48	11.66
2013	125.00	0.62	0.55	11.76
2014	125.00	0.82	0.63	11.95
2015	125.00	1.69	0.76	12.18
2016	125.00	1.06	1.00	12.82

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2008	22.77	22.77	1.19
Q2 2008	66.65	29.87	1.28
Q3 2008	77.20	25.33	0.88
Q4 2008	29.49	14.22	0.63
Q1 2009	38.01	17.05	0.71
Q2 2009	15.42	15.41	0.79
Q3 2009	20.92	20.92	0.77
Q4 2009	32.10	32.10	0.74
Q1 2010	32.62	32.62	0.76
Q2 2010	21.30	21.30	0.68
Q3 2010	19.98	19.98	0.68
Q4 2010	18.37	18.37	0.64
Q1 2011	36.18	38.17	0.70
Q2 2011	21.59	22.30	0.67
Q3 2011	15.24	15.62	0.65
Q4 2011	17.52	17.92	0.79
Q1 2012	22.80	25.84	1.61
Q2 2012	17.23	19.77	1.23
Q3 2012	23.08	26.88	1.47
Q4 2012	27.94	34.32	1.42
Q1 2013	23.09	26.46	1.36
Q2 2013	18.15	20.01	1.33
Q3 2013	34.66	39.81	1.85
Q4 2013	43.66	49.39	2.30
Q1 2014	44.37	44.32	2.43
Q2 2014	72.31	87.53	3.23
Q3 2014	47.84	62.05	3.30
Q4 2014	29.40	38.39	2.01
Q1 2015	16.28	46.54	2.18
Q2 2015	16.35	44.63	2.29
Q3 2015	8.31	15.56	1.43
Q4 2015	10.66	26.06	1.38
Q1 2016	16.57	17.45	0.98
Q2 2016	18.88	19.72	1.12
Q3 2016	15.25	15.27	0.92
Q4 2016	14.32	15.19	1.18
Q1 2017	17.85	17.91	1.18

Period	P/E	Adjusted P/E	Price/book
2007	21.45	21.45	1.47
2008	29.49	14.22	0.63
2009	32.10	32.10	0.74
2010	18.37	18.37	0.64
2011	17.52	17.92	0.79
2012	27.94	34.32	1.42
2013	43.66	49.39	2.30
2014	29.40	38.39	2.01
2015	9.94	22.14	1.38
2016	14.32	15.19	1.18

Business Segments (Million)

Compared With The

Period	passenger transport segment	Public transportation project	Specialized Services	Other unallocated amounts	Consolidation adjustments & eliminations
Q1 2009	104.29	-	30.12	10.99	-
Q2 2009	119.01	-	32.68	11.94	-
Q3 2009	165.83	-	23.11	15.54	-
Q4 2009	137.50	-	91.05	10.38	-
Q1 2010	104.16	-	32.60	0.18	-
Q2 2010	122.63	-	40.99	2.15	-
Q3 2010	173.65	-	28.76	2.94	-
Q4 2010	139.84	-	94.33	4.06	-
Q1 2011	100.55	-	29.37	2.65	-
Q2 2011	132.68	-	53.76	4.60	-
Q3 2011	181.27	-	31.57	6.17	-
Q4 2011	135.85	-	123.87	7.62	-
Q1 2012	124.99	-	34.08	7.96	-
Q2 2012	144.58	-	45.22	12.72	-
Q3 2012	187.00	-	36.82	15.49	-
Q4 2012	159.17	-	132.84	14.07	-
Q1 2013	145.80	-	41.59	15.30	-
Q2 2013	188.07	-	51.54	17.43	-
Q3 2013	171.24	-	35.47	18.12	-
Q4 2013	152.60	-	112.75	17.94	-
Q1 2014	148.11	-	66.07	17.14	-
Q2 2014	149.33	-	59.60	20.84	-
Q3 2014	194.28	-	49.77	28.78	-
Q4 2014	156.70	-	106.80	21.79	-
Q1 2015	157.40	-	59.58	21.84	-
Q2 2015	171.90	-	50.46	30.58	-
Q3 2015	219.06	-	117.79	24.06	-
Q4 2015	151.02	-	60.98	37.32	-
Q1 2016	170.55	15.87	51.44	20.59	(1.45)
Q2 2016	184.82	19.26	55.78	22.91	-
Q3 2016	202.55	15.20	139.96	17.84	-
Q4 2016	187.31	28.68	80.22	(61.34)	-
Q1 2017	147.62	19.54	61.84	-	-

Period	passenger transport segment	Public transportation project	Specialized Services	Other unallocated amounts	Consolidation adjustments & eliminations
2008	508.37	-	214.59	43.51	-
2009	526.63	-	176.95	48.85	-
2010	540.28	-	196.68	9.32	-
2011	550.35	-	238.58	21.04	-
2012	615.74	-	248.96	50.24	-
2013	657.72	-	241.35	68.79	-
2014	648.42	-	282.23	88.55	-
2015	699.36	14.84	288.81	99.30	-
2016	745.22	79.01	327.41	-	-

Financial Ratios

	Current
Market Cap (M Riyal)	2,232.50
Enterprise Value (EV) (M)	3,159.85
Shares Outstanding ((M))	125.00
EPS ( Riyal) (TTM)	(0.32)
Book Value (BV) ( Riyal)	6.92
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	Neg
P/E (TTM)	NEG
Price/book	2.58
Return on Average Assets (%) (TTM)	(0.98 )
Return on Average Equity (%) (TTM)	(4.56 )

Saudi Public Transport Co. (SAPTCO)

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SAPTCO’s net profit plunges 89% in Q1

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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)

Revenue by Business Segment (Latest) 2017 Q1

Financial Ratios

Share Price

Saudi Public Transport Co. (SAPTCO)

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SAPTCO’s net profit plunges 89% in Q1

View other reports

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) Q1 2017

Revenue by Business Segment (Latest) 2017 Q1

Financial Ratios

Share Price

Saudi Public Transport Co. (SAPTCO)

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Business Segments (Million)