SIECO turns to SAR 13 mln profit in Q1

18/04/2018 Argaam Exclusive

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Share Price

25.65
(0.50) (1.91 %)

Saudi Industrial Export Co. (SIECO)

Saudi Industrial Exports Co. (SIECO) swung to a net profit of SAR 12.6 million in Q1 2018, compared to a net loss of SAR 1.8 million, thanks to a rise in other income and redemption of SAR 14.05 million in insurance claims from Afia International Co.

 

Gross profit from cement, sulfur and plastics sales also bolstered the quarterly results.

The company incurred losses of SAR 85.3 million in Q4 2017. 



Current Quarter Comparison (M)

Compared With The
Item Q1 2017 Q1 2018 Change‬
Revenues 0.23 8.14 3440.0 %
Gross Income 0.15 0.79 423.2 %
Operating Income (1.56) (1.41) 9.5 %
Net Income (1.80) 12.61 801.6 %
Average Shares 13.44 13.44 -
EPS (Riyals) (0.13) 0.94 801.6 %


Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Riyal)
Q1 2009 23.75 (88.5 %) 0.24 (95.5 %) (1.43) (145.6 %) (0.11)
Q2 2009 26.79 (92.7 %) 1.77 (86.5 %) (0.40) (103.8 %) (0.03)
Q3 2009 23.86 (76.9 %) 0.89 (91.1 %) (1.50) (119.7 %) (0.11)
Q4 2009 26.96 (19.1 %) (0.07) (104.8 %) (101.55) 2.1 % (7.56)
Q1 2010 44.77 88.5 % 3.22 1242.1 % 1.03 172.2 % 0.08
Q2 2010 44.28 65.2 % (0.52) (129.2 %) (2.87) (626.6 %) (0.21)
Q3 2010 21.24 (11.0 %) 0.65 (27.0 %) 1.23 182.1 % 0.09
Q4 2010 76.40 183.4 % 5.47 7798.6 % (98.82) 2.7 % (7.35)
Q1 2011 88.59 97.9 % 7.19 123.1 % 5.46 429.6 % 0.41
Q2 2011 110.67 149.9 % 3.56 787.8 % 2.02 170.5 % 0.15
Q3 2011 99.95 370.6 % 1.52 134.7 % 1.62 32.4 % 0.12
Q4 2011 101.13 32.4 % 1.26 (76.9 %) (102.96) (4.2 %) (7.66)
Q1 2012 71.59 (19.2 %) 1.50 (79.1 %) 0.44 (91.9 %) 0.03
Q2 2012 71.98 (35.0 %) 1.77 (50.2 %) 0.51 (74.9 %) 0.04
Q3 2012 88.62 (11.3 %) 1.32 (13.7 %) 1.26 (22.6 %) 0.09
Q4 2012 105.17 4.0 % 2.33 84.6 % (100.37) 2.5 % (7.47)
Q1 2013 85.71 19.7 % 3.99 165.4 % 2.66 498.0 % 0.20
Q2 2013 91.66 27.3 % 3.71 109.2 % 2.19 331.9 % 0.16
Q3 2013 55.06 (37.9 %) 2.52 91.5 % 1.29 2.9 % 0.10
Q4 2013 90.72 (13.7 %) 2.55 9.4 % (100.65) (0.3 %) (7.49)
Q1 2014 190.78 122.6 % 3.47 (12.9 %) 1.71 (35.6 %) 0.13
Q2 2014 127.19 38.8 % 1.66 (55.1 %) 0.52 (76.4 %) 0.04
Q3 2014 118.30 114.9 % 1.44 (42.7 %) 0.27 (78.8 %) 0.02
Q4 2014 135.40 49.2 % 0.87 (65.8 %) (100.91) (0.3 %) (7.51)
Q1 2015 132.16 (30.7 %) 1.18 (66.1 %) 0.16 (90.5 %) 0.01
Q2 2015 137.94 8.5 % 2.18 30.9 % 0.79 52.8 % 0.06
Q3 2015 202.10 70.8 % 3.71 156.8 % 1.89 589.1 % 0.14
Q4 2015 116.84 (13.7 %) 0.28 (68.2 %) (102.30) (1.4 %) (7.61)
Q1 2016 1.30 (99.0 %) 0.84 (28.3 %) (0.47) (388.3 %) (0.03)
Q2 2016 0.22 (99.8 %) 0.12 (94.6 %) (0.46) (158.0 %) (0.03)
Q3 2016 0.33 (99.8 %) 0.19 (95.0 %) (9.28) (591.3 %) (0.69)
Q4 2016 (1.23) (101.1 %) (0.83) (398.9 %) (3.39) 96.7 % (0.25)
Q1 2017 0.23 (82.3 %) 0.15 (82.1 %) (1.80) (282.3 %) (0.13)
Q2 2017 0.33 51.4 % 0.09 (25.4 %) (13.23) (2,789.5 %) (0.98)
Q3 2017 11.63 3381.4 % 0.29 55.1 % (10.63) (14.6 %) (0.79)
Q4 2017 7.04 673.2 % (3.05) (267.3 %) (85.33) (2,418.6 %) (6.35)
Q1 2018 8.14 3440.0 % 0.79 423.2 % 12.61 801.6 % 0.94

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2009 4.71 % 3.22 % 2.62 %
Q2 2009 7.17 % 3.08 % 1.61 %
Q3 2009 4.05 % (2.74 %) (5.64 %)
Q4 2009 2.79 % (2.52 %) (3.85 %)
Q1 2010 4.75 % 0.07 % (1.18 %)
Q2 2010 2.52 % (1.83 %) (2.80 %)
Q3 2010 2.39 % (1.97 %) (0.88 %)
Q4 2010 4.72 % 1.55 % 0.82 %
Q1 2011 5.55 % 3.12 % 2.58 %
Q2 2011 5.68 % 4.03 % 3.65 %
Q3 2011 4.72 % 3.48 % 2.99 %
Q4 2011 3.38 % 2.19 % 1.78 %
Q1 2012 2.05 % 0.89 % 0.55 %
Q2 2012 1.76 % 0.45 % 0.17 %
Q3 2012 1.76 % 0.38 % 0.06 %
Q4 2012 2.05 % 0.78 % 0.83 %
Q1 2013 2.68 % 1.43 % 1.43 %
Q2 2013 3.05 % 1.85 % 1.80 %
Q3 2013 3.71 % 2.38 % 1.99 %
Q4 2013 3.95 % 2.37 % 2.00 %
Q1 2014 2.86 % 1.63 % 1.29 %
Q2 2014 2.20 % 1.10 % 0.83 %
Q3 2014 1.73 % 0.77 % 0.53 %
Q4 2014 1.30 % 0.54 % 0.45 %
Q1 2015 1.01 % 0.17 % 0.20 %
Q2 2015 1.08 % 0.28 % 0.24 %
Q3 2015 1.31 % 0.56 % 0.48 %
Q4 2015 1.25 % 0.43 % 0.26 %
Q1 2016 1.53 % - 0.19 %
Q2 2016 1.54 % (0.21 %) (0.12 %)
Q3 2016 1.20 % (3.53 %) (3.72 %)
Q4 2016 50.88 % (1066.13 %) (1038.68 %)
Q1 2017 83.71 % 1,753.35 % 1,740.63 %
Q2 2017 120.18 % 2,666.17 % 2,924.93 %
Q3 2017 (2.76 %) (86.06 %) (89.64 %)
Q4 2017 (13.12 %) (59.88 %) (52.17 %)
Q1 2018 (6.94 %) (41.88 %) (35.65 %)


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2009 13.44 (6.49) 1.03 7.81
Q2 2009 13.44 (7.29) 0.22 7.86
Q3 2009 13.44 (7.97) (0.45) 7.86
Q4 2009 13.44 (7.80) (0.29) 7.63
Q1 2010 13.44 (7.62) (0.11) 7.82
Q2 2010 13.44 (7.81) (0.29) 7.58
Q3 2010 13.44 (7.60) (0.09) 7.71
Q4 2010 13.44 (7.40) 0.11 7.97
Q1 2011 13.44 (7.07) 0.44 8.47
Q2 2011 13.44 (6.71) 0.81 8.58
Q3 2011 13.44 (6.68) 0.84 8.65
Q4 2011 13.44 (6.98) 0.53 8.64
Q1 2012 13.44 (7.36) 0.16 8.88
Q2 2012 13.44 (7.47) 0.04 8.31
Q3 2012 13.44 (7.50) 0.02 8.39
Q4 2012 13.44 (7.31) 0.21 8.53
Q1 2013 13.44 (7.14) 0.37 8.62
Q2 2013 13.44 (7.02) 0.50 8.96
Q3 2013 13.44 (7.01) 0.50 9.23
Q4 2013 13.44 (7.03) 0.48 9.00
Q1 2014 13.44 (7.10) 0.41 9.24
Q2 2014 13.44 (7.23) 0.29 9.64
Q3 2014 13.44 (7.30) 0.21 9.89
Q4 2014 13.44 (7.32) 0.19 9.58
Q1 2015 13.44 (7.44) 0.08 9.53
Q2 2015 13.44 (7.42) 0.10 9.53
Q3 2015 13.44 (7.30) 0.22 9.44
Q4 2015 13.44 (7.40) 0.11 9.20
Q1 2016 13.44 (7.45) 0.06 9.04
Q2 2016 13.44 (7.54) (0.03) 8.77
Q3 2016 13.44 (8.37) (0.33) 8.35
Q4 2016 13.44 (1.01) (0.48) 7.82
Q1 2017 13.44 (1.11) (0.58) 8.18
Q2 2017 13.44 (2.06) (0.73) 7.93
Q3 2017 13.44 (2.16) (0.73) 7.29
Q4 2017 13.44 (8.26) (0.75) 0.82
Q1 2018 13.44 (7.19) (0.72) 1.76

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2009 NEG 29.59 3.89
Q2 2009 NEG More than 100 5.64
Q3 2009 NEG NEG 5.56
Q4 2009 NEG NEG 5.53
Q1 2010 NEG NEG 4.94
Q2 2010 NEG NEG 4.10
Q3 2010 NEG NEG 3.77
Q4 2010 NEG More than 100 3.60
Q1 2011 NEG 61.36 3.21
Q2 2011 NEG 40.32 3.79
Q3 2011 NEG 35.98 3.48
Q4 2011 NEG 84.61 5.18
Q1 2012 NEG More than 100 5.51
Q2 2012 NEG More than 100 6.51
Q3 2012 NEG More than 100 8.38
Q4 2012 NEG More than 100 10.16
Q1 2013 NEG More than 100 13.59
Q2 2013 NEG More than 100 6.03
Q3 2013 NEG More than 100 5.78
Q4 2013 NEG More than 100 5.93
Q1 2014 NEG More than 100 7.43
Q2 2014 NEG More than 100 7.49
Q3 2014 NEG More than 100 8.11
Q4 2014 NEG More than 100 4.65
Q1 2015 NEG More than 100 6.01
Q2 2015 NEG More than 100 6.30
Q3 2015 NEG More than 100 4.74
Q4 2015 NEG More than 100 5.01
Q1 2016 NEG More than 100 5.73
Q2 2016 NEG NEG 5.30
Q3 2016 NEG NEG 3.59
Q4 2016 NEG NEG 5.30
Q1 2017 NEG NEG 4.59
Q2 2017 NEG NEG 4.24
Q3 2017 NEG NEG 5.09
Q4 2017 NEG NEG 21.25
Q1 2018 NEG NEG 17.87

Business Segments (Million)

Compared With The
Period Export Activities Saudi for Industrial Exports - Jordan

Current
Market Cap (M Riyal) 498.64
Enterprise Value (EV) (M) 373.23
Shares Outstanding ((M)) 19.44
EPS ( Riyal) (TTM) (0.69)
Book Value (BV) ( Riyal) 7.46
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 3.44
Return on Average Assets (%) (TTM) (8.30 )
Return on Average Equity (%) (TTM) (8.81 )

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