Aslak net profit rises 11% in 9M

17/10/2019 Argaam Exclusive

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Share Price

33.95
0.55 1.65 %

United Wire Factories Co. (ASLAK)

United Wire Factories Co. (Aslak) reported a net profit after zakat and tax of SAR 17.2 million for the first nine months of 2019 as compared to a net profit of SAR 15.5 million in the same period in 2018, an increase of 10.9 percent, it said in a bourse statement.

 

The figures can be attributed to an increase in sales maintaining the amount of gross profit in spite of the decline in margins, along with an improvement in selling and distribution expenses.



Financials (M)

Item 9m 2018 9m 2019 Change‬
Revenues 397.24 505.18 27.2 %
Gross Income 43.75 42.71 (2.4 %)
Operating Income 21.83 20.07 (8.0 %)
Net Income 15.54 17.23 10.9 %
Average Shares 28.08 28.08 -
EPS (Riyals) 0.55 0.61 10.9 %

In Q3 2019, the company reported a net profit after zakat and tax of SAR 1.1 million as against a net profit of SAR 0.5 million in the same period previous year on increase in sales.

 

On a sequential basis, Q3 2019 net profit slid by 81.66 percent compared to the previous quarter.



Current Quarter Comparison (M)

Compared With The
Item Q3 2018 Q3 2019 Change‬
Revenues 106.65 168.29 57.8 %
Gross Income 8.67 8.42 (3.0 %)
Operating Income 1.73 1.39 (19.3 %)
Net Income 0.49 1.10 126.1 %
Average Shares 28.08 28.08 -
EPS (Riyals) 0.02 0.04 126.1 %


Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Riyal)
Q1 2010 123.14 - 28.53 - 24.40 - 0.87
Q2 2010 161.54 - 39.27 - 35.60 - 1.27
Q3 2010 133.70 47.5 % 34.29 76.7 % 28.62 67.5 % 1.02
Q4 2010 152.22 61.5 % 30.02 44.1 % 27.10 57.0 % 0.96
Q1 2011 205.56 66.9 % 42.35 48.4 % 38.88 59.3 % 1.38
Q2 2011 226.57 40.3 % 34.88 (11.2 %) 30.77 (13.6 %) 1.10
Q3 2011 187.98 40.6 % 25.48 (25.7 %) 21.54 (24.7 %) 0.77
Q4 2011 234.97 54.4 % 21.74 (27.6 %) 15.73 (42.0 %) 0.56
Q1 2012 277.60 35.0 % 38.27 (9.6 %) 32.93 (15.3 %) 1.17
Q2 2012 283.21 25.0 % 35.30 1.2 % 30.14 (2.1 %) 1.07
Q3 2012 209.77 11.6 % 26.43 3.7 % 21.24 (1.4 %) 0.76
Q4 2012 234.64 (0.1 %) 37.79 73.8 % 31.04 97.4 % 1.11
Q1 2013 278.25 0.2 % 45.51 18.9 % 39.60 20.3 % 1.41
Q2 2013 268.15 (5.3 %) 40.66 15.2 % 33.77 12.0 % 1.20
Q3 2013 225.78 7.6 % 32.13 21.6 % 23.30 9.7 % 0.83
Q4 2013 229.15 (2.3 %) 32.32 (14.5 %) 24.65 (20.6 %) 0.88
Q1 2014 279.95 0.6 % 39.33 (13.6 %) 30.38 (23.3 %) 1.08
Q2 2014 262.36 (2.2 %) 37.73 (7.2 %) 30.02 (11.1 %) 1.07
Q3 2014 204.19 (9.6 %) 28.56 (11.1 %) 20.38 (12.5 %) 0.73
Q4 2014 206.35 (10.0 %) 21.79 (32.6 %) 12.87 (47.8 %) 0.46
Q1 2015 233.19 (16.7 %) 25.04 (36.4 %) 13.96 (54.1 %) 0.50
Q2 2015 268.77 2.4 % 37.80 0.2 % 24.94 (16.9 %) 0.89
Q3 2015 182.92 (10.4 %) 31.98 12.0 % 21.17 3.9 % 0.75
Q4 2015 218.49 5.9 % 25.51 17.1 % 12.14 (5.7 %) 0.43
Q1 2016 209.64 (10.1 %) 32.49 29.8 % 17.29 23.9 % 0.62
Q2 2016 196.81 (26.8 %) 56.48 49.4 % 38.61 54.8 % 1.38
Q3 2016 126.19 (31.0 %) 24.12 (24.6 %) 14.34 (32.3 %) 0.51
Q4 2016 157.39 (28.0 %) 23.72 (7.0 %) 11.65 (4.1 %) 0.41
Q1 2017 144.64 (31.0 %) 18.76 (42.2 %) 7.71 (55.4 %) 0.27
Q2 2017 135.13 (31.3 %) 12.19 (78.4 %) 0.49 (98.7 %) 0.02
Q3 2017 129.98 3.0 % 18.95 (21.4 %) 7.23 (49.6 %) 0.26
Q4 2017 167.01 6.1 % 18.76 (20.9 %) 10.14 (12.9 %) 0.36
Q1 2018 145.02 0.3 % 19.29 2.8 % 7.74 0.3 % 0.28
Q2 2018 145.56 7.7 % 15.78 29.4 % 7.32 1384.2 % 0.26
Q3 2018 106.65 (17.9 %) 8.67 (54.2 %) 0.49 (93.3 %) 0.02
Q4 2018 137.73 (17.5 %) 2.40 (87.2 %) (8.43) (183.1 %) (0.30)
Q1 2019 192.79 32.9 % 21.13 9.5 % 10.12 30.9 % 0.36
Q2 2019 144.10 (1.0 %) 13.17 (16.5 %) 6.01 (17.9 %) 0.21
Q3 2019 168.29 57.8 % 8.42 (3.0 %) 1.10 126.1 % 0.04

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2010 - - -
Q2 2010 23.00 % 36.55 % 20.09 %
Q3 2010 23.98 % 25.74 % 20.65 %
Q4 2010 23.15 % 24.28 % 20.28 %
Q1 2011 22.35 % 23.14 % 19.94 %
Q2 2011 19.71 % 20.16 % 17.46 %
Q3 2011 17.19 % 17.39 % 15.31 %
Q4 2011 14.55 % 14.14 % 12.50 %
Q1 2012 12.98 % 12.44 % 10.89 %
Q2 2012 12.28 % 11.72 % 10.20 %
Q3 2012 12.11 % 11.47 % 9.95 %
Q4 2012 13.71 % 13.28 % 11.48 %
Q1 2013 14.42 % 13.97 % 12.13 %
Q2 2013 15.18 % 14.55 % 12.68 %
Q3 2013 15.50 % 14.55 % 12.68 %
Q4 2013 15.04 % 13.81 % 12.12 %
Q1 2014 14.40 % 12.89 % 11.18 %
Q2 2014 14.19 % 12.60 % 10.87 %
Q3 2014 14.14 % 12.61 % 10.81 %
Q4 2014 13.37 % 11.74 % 9.83 %
Q1 2015 12.48 % 10.73 % 8.52 %
Q2 2015 12.40 % 10.38 % 7.91 %
Q3 2015 13.08 % 10.92 % 8.18 %
Q4 2015 13.32 % 10.98 % 7.99 %
Q1 2016 14.52 % 11.86 % 8.59 %
Q2 2016 18.13 % 14.84 % 11.04 %
Q3 2016 18.45 % 14.87 % 10.97 %
Q4 2016 19.83 % 15.74 % 11.87 %
Q1 2017 19.69 % 15.44 % 11.57 %
Q2 2017 13.99 % 10.03 % 6.07 %
Q3 2017 12.98 % 9.27 % 4.77 %
Q4 2017 11.91 % 9.04 % 4.43 %
Q1 2018 11.99 % 9.30 % 4.44 %
Q2 2018 12.39 % 10.09 % 5.52 %
Q3 2018 11.08 % 8.71 % 4.55 %
Q4 2018 8.63 % 5.53 % 1.33 %
Q1 2019 8.23 % 5.45 % 1.63 %
Q2 2019 7.81 % 4.87 % 1.41 %
Q3 2019 7.02 % 4.38 % 1.37 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2010 28.08 - - 10.81
Q2 2010 28.08 3.36 3.36 10.86
Q3 2010 28.08 3.77 3.77 11.78
Q4 2010 28.08 4.12 4.12 11.71
Q1 2011 28.08 4.64 4.64 13.00
Q2 2011 28.08 4.46 4.46 13.16
Q3 2011 28.08 4.21 4.21 13.89
Q4 2011 28.08 3.81 3.81 13.47
Q1 2012 28.08 3.60 3.60 13.42
Q2 2012 28.08 3.57 3.57 14.41
Q3 2012 28.08 3.56 3.56 15.08
Q4 2012 28.08 4.11 4.11 14.65
Q1 2013 28.08 4.35 4.35 15.96
Q2 2013 28.08 4.47 4.47 17.07
Q3 2013 28.08 4.55 4.55 16.05
Q4 2013 28.08 4.32 4.32 16.84
Q1 2014 28.08 3.99 3.99 17.84
Q2 2014 28.08 3.86 3.86 18.81
Q3 2014 28.08 3.75 3.75 17.48
Q4 2014 28.08 3.34 3.34 17.92
Q1 2015 28.08 2.75 2.75 17.59
Q2 2015 28.08 2.57 2.57 18.48
Q3 2015 28.08 2.60 2.60 17.99
Q4 2015 28.08 2.57 2.57 18.42
Q1 2016 28.08 2.69 2.69 17.99
Q2 2016 28.08 3.18 3.18 19.39
Q3 2016 28.08 2.93 2.93 18.31
Q4 2016 28.08 2.92 2.92 18.69
Q1 2017 28.08 2.58 2.58 17.95
Q2 2017 28.08 1.22 1.22 17.97
Q3 2017 28.08 0.96 0.96 18.22
Q4 2017 28.08 0.91 0.91 18.62
Q1 2018 28.08 0.91 0.91 18.90
Q2 2018 28.08 1.15 1.15 18.37
Q3 2018 28.08 0.91 0.91 18.39
Q4 2018 28.08 0.25 0.25 18.04
Q1 2019 28.08 0.34 0.34 18.40
Q2 2019 28.08 0.29 0.29 18.61
Q3 2019 28.08 0.31 0.31 18.26

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2010 - - -
Q2 2010 - - -
Q3 2010 - - -
Q4 2010 - - -
Q1 2011 - - -
Q2 2011 - - -
Q3 2011 9.13 9.13 2.77
Q4 2011 11.11 11.11 3.14
Q1 2012 12.76 12.76 3.42
Q2 2012 9.93 9.93 2.46
Q3 2012 10.62 10.62 2.51
Q4 2012 8.37 8.37 2.35
Q1 2013 8.87 8.87 2.42
Q2 2013 10.44 10.44 2.74
Q3 2013 10.09 10.09 2.86
Q4 2013 10.98 10.98 2.82
Q1 2014 12.90 12.90 2.89
Q2 2014 15.53 15.53 3.19
Q3 2014 17.78 17.78 3.82
Q4 2014 13.79 13.79 2.57
Q1 2015 16.01 16.01 2.50
Q2 2015 17.25 17.25 2.40
Q3 2015 13.40 13.40 1.94
Q4 2015 11.44 11.44 1.60
Q1 2016 8.89 8.89 1.33
Q2 2016 9.91 9.91 1.62
Q3 2016 8.53 8.53 1.37
Q4 2016 11.80 11.80 1.84
Q1 2017 11.99 11.99 1.72
Q2 2017 20.56 20.56 1.39
Q3 2017 24.76 24.76 1.31
Q4 2017 23.34 23.34 1.14
Q1 2018 23.02 23.02 1.11
Q2 2018 20.28 20.28 1.27
Q3 2018 22.67 22.67 1.13
Q4 2018 More than 50 More than 50 1.05
Q1 2019 More than 50 More than 50 1.19
Q2 2019 More than 50 More than 50 1.04
Q3 2019 More than 50 More than 50 1.11

Business Segments (Million)

Compared With The
Period Construction sector The civil sector
Q1 2011 154.63 50.93
Q2 2011 172.12 54.45
Q3 2011 145.60 42.39
Q4 2011 192.30 42.67
Q1 2012 227.91 49.69
Q2 2012 226.62 56.58
Q3 2012 164.76 45.00
Q4 2012 192.76 41.89
Q1 2013 233.41 44.84
Q2 2013 212.81 55.33
Q3 2013 176.34 49.44
Q4 2013 190.70 38.45
Q1 2014 212.67 67.27
Q2 2014 189.92 72.44
Q3 2014 145.91 58.28
Q4 2014 229.06 -
Q1 2015 195.39 37.79
Q2 2015 218.15 50.62
Q3 2015 138.48 44.44
Q4 2015 178.67 39.82
Q1 2016 177.61 32.02
Q2 2016 150.32 46.49
Q3 2016 89.78 36.41
Q4 2016 129.30 28.09
Q1 2017 119.83 24.81
Q2 2017 90.58 44.55
Q3 2017 95.03 34.94
Q4 2017 130.65 36.36
Q1 2018 118.53 26.49
Q2 2018 104.77 40.79
Q3 2018 69.78 36.87
Q4 2018 109.09 28.64
Q1 2019 160.48 32.31
Q2 2019 104.51 39.59
Q3 2019 133.75 34.54

Current
Market Cap (M Riyal) 953.32
Enterprise Value (EV) (M) 915.46
Shares Outstanding ((M)) 28.08
EPS ( Riyal) (TTM) 0.78
Book Value (BV) ( Riyal) 13.46
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 43.31
P/E (TTM) 43.31
Price/book 2.52
Return on Average Assets (%) (TTM) 4.1
Return on Average Equity (%) (TTM) 5.3

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