City Cement’s net profit drops 34% in Q1

09/05/2018 Argaam Exclusive

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Share Price

City Cement Co. (CITY CEMENT)

City Cement Co. reported a net profit of SAR 24.9 million for the first quarter of 2018, a 34.25 percent year-on-year decline on lower sales, lower miscellaneous income and higher general and administrative expenses.

When compared to previous quarter, net profit rose 4.5 percent due to lower cost of sales, higher return of Murabaha deposits, and gains from change of the fair value of an investment.

Current Quarter Comparison (M)

Compared With The

Item	Q1 2017	Q1 2018	Change‬
Revenues	167.30	121.10	(27.6 %)
Gross Income	47.09	34.22	(27.3 %)
Operating Income	39.99	26.67	(33.3 %)
Net Income	37.87	24.90	(34.2 %)
Average Shares	140.00	140.00	-
EPS (Riyals)	0.27	0.18	(34.2 %)

Item	Q4 2017	Q1 2018	Change‬
Revenues	145.22	121.10	(16.6 %)
Gross Income	32.82	34.22	4.3 %
Operating Income	26.88	26.67	(0.8 %)
Net Income	23.83	24.90	4.5 %
Average Shares	140.00	140.00	-
EPS (Riyals)	0.17	0.18	4.5 %

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
Q1 2009	-	-	-	-	-	-	-
Q2 2009	-	-	-	-	-	-	-
Q3 2009	-	-	-	-	-	-	-
Q4 2009	-	-	-	-	-	-	-
2009	338.99	-	201.87	-	178.42	-	1.27
Q1 2010	-	-	-	-	-	-	-
Q2 2010	-	-	-	-	-	-	-
Q3 2010	88.26	-	56.67	-	50.54	-	0.36
Q4 2010	108.74	-	66.93	-	61.60	-	0.44
2010	426.66	25.9 %	262.62	30.1 %	237.18	32.9 %	1.69
Q1 2011	116.28	-	67.59	-	63.49	-	0.45
Q2 2011	-	-	-	-	-	-	-
Q3 2011	67.19	(23.9 %)	42.08	(25.7 %)	38.18	(24.5 %)	0.27
Q4 2011	133.97	23.2 %	78.81	17.8 %	70.08	13.8 %	0.50
2011	414.97	(2.7 %)	242.33	(7.7 %)	222.66	(6.1 %)	1.59
Q1 2012	132.66	14.1 %	87.65	29.7 %	83.44	31.4 %	0.60
Q2 2012	131.30	-	82.50	-	76.98	-	0.55
Q3 2012	87.05	29.6 %	57.55	36.8 %	39.03	2.2 %	0.28
Q4 2012	77.55	(42.1 %)	52.88	(32.9 %)	43.46	(38.0 %)	0.31
2012	428.56	3.3 %	280.59	15.8 %	242.91	9.1 %	1.74
Q1 2013	98.18	(26.0 %)	57.06	(34.9 %)	51.79	(37.9 %)	0.37
Q2 2013	139.44	6.2 %	82.16	(0.4 %)	72.94	(5.2 %)	0.52
Q3 2013	97.49	12.0 %	56.39	(2.0 %)	45.42	16.4 %	0.32
Q4 2013	98.32	26.8 %	56.96	7.7 %	48.28	11.1 %	0.34
2013	433.43	1.1 %	252.56	(10.0 %)	218.42	(10.1 %)	1.56
Q1 2014	121.74	24.0 %	73.33	28.5 %	65.25	26.0 %	0.47
Q2 2014	127.62	(8.5 %)	71.26	(13.3 %)	62.24	(14.7 %)	0.44
Q3 2014	90.61	(7.1 %)	56.32	(0.1 %)	46.96	3.4 %	0.34
Q4 2014	114.88	16.8 %	55.70	(2.2 %)	47.30	(2.0 %)	0.34
2014	454.85	4.9 %	254.47	0.8 %	221.75	1.5 %	1.58
Q1 2015	145.41	19.4 %	75.75	3.3 %	67.59	3.6 %	0.48
Q2 2015	145.59	14.1 %	78.57	10.3 %	68.25	9.7 %	0.49
Q3 2015	113.91	25.7 %	56.69	0.7 %	47.39	0.9 %	0.34
Q4 2015	155.62	35.5 %	69.41	24.6 %	58.63	23.9 %	0.42
2015	560.52	23.2 %	278.27	9.4 %	241.87	9.1 %	1.73
Q1 2016	180.36	24.0 %	83.90	10.8 %	73.32	8.5 %	0.52
Q2 2016	167.36	15.0 %	74.74	(4.9 %)	64.16	(6.0 %)	0.46
Q3 2016	116.31	2.1 %	42.25	(25.5 %)	32.92	(30.5 %)	0.24
Q4 2016	137.86	(11.4 %)	55.18	(20.5 %)	45.91	(21.7 %)	0.33
2016	601.89	7.4 %	256.08	(8.0 %)	216.31	(10.6 %)	1.55
Q1 2017	167.30	(7.2 %)	47.09	(43.9 %)	37.87	(48.3 %)	0.27
Q2 2017	117.04	(30.1 %)	20.75	(72.2 %)	12.36	(80.7 %)	0.09
Q3 2017	105.84	(9.0 %)	27.81	(34.2 %)	19.24	(41.6 %)	0.14
Q4 2017	145.22	5.3 %	32.82	(40.5 %)	23.83	(48.1 %)	0.17
2017	535.39	(11.0 %)	128.48	(49.8 %)	93.31	(56.9 %)	0.67
Q1 2018	121.10	(27.6 %)	34.22	(27.3 %)	24.90	(34.2 %)	0.18

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
2008	-	-	-	-	-	-	-
2009	338.99	-	201.87	-	178.42	-	1.27
2010	426.66	25.9 %	262.62	30.1 %	237.18	32.9 %	1.69
2011	414.97	(2.7 %)	242.33	(7.7 %)	222.66	(6.1 %)	1.59
2012	428.56	3.3 %	280.59	15.8 %	242.91	9.1 %	1.74
2013	433.43	1.1 %	252.56	(10.0 %)	218.42	(10.1 %)	1.56
2014	454.85	4.9 %	254.47	0.8 %	221.75	1.5 %	1.58
2015	560.52	23.2 %	278.27	9.4 %	241.87	9.1 %	1.73
2016	601.89	7.4 %	256.08	(8.0 %)	216.31	(10.6 %)	1.55
2017	535.39	(11.0 %)	128.48	(49.8 %)	93.31	(56.9 %)	0.67

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2009	-	-	-
Q2 2009	-	-	-
Q3 2009	-	-	-
Q4 2009	-	-	-
2009	59.55 %	70.14 %	52.63 %
Q1 2010	-	-	-
Q2 2010	-	-	-
Q3 2010	-	-	-
Q4 2010	-	-	-
2010	61.55 %	70.31 %	55.59 %
Q1 2011	-	-	-
Q2 2011	-	-	-
Q3 2011	-	-	-
Q4 2011	-	-	-
2011	58.40 %	67.34 %	53.66 %
Q1 2012	-	-	-
Q2 2012	62.58 %	67.67 %	57.76 %
Q3 2012	63.20 %	70.42 %	55.58 %
Q4 2012	65.47 %	73.89 %	60.02 %
2012	65.47 %	73.89 %	60.02 %
Q1 2013	63.44 %	72.62 %	57.24 %
Q2 2013	62.07 %	71.13 %	55.08 %
Q3 2013	60.22 %	68.78 %	55.23 %
Q4 2013	58.27 %	67.26 %	50.39 %
2013	58.27 %	67.26 %	50.39 %
Q1 2014	58.83 %	67.19 %	50.74 %
Q2 2014	57.94 %	66.43 %	49.69 %
Q3 2014	58.83 %	67.51 %	50.82 %
Q4 2014	56.42 %	63.87 %	48.75 %
2014	55.95 %	63.75 %	48.75 %
Q1 2015	54.13 %	61.44 %	46.83 %
Q2 2015	53.65 %	62.03 %	46.35 %
Q3 2015	51.31 %	61.39 %	44.35 %
Q4 2015	50.03 %	62.11 %	43.15 %
2015	49.65 %	62.17 %	43.15 %
Q1 2016	48.46 %	61.81 %	41.58 %
Q2 2016	46.13 %	60.16 %	39.45 %
Q3 2016	43.62 %	58.35 %	36.96 %
Q4 2016	42.55 %	57.82 %	35.94 %
2016	42.55 %	57.82 %	35.94 %
Q1 2017	37.24 %	52.96 %	30.72 %
Q2 2017	30.69 %	47.94 %	23.97 %
Q3 2017	28.56 %	45.89 %	21.85 %
Q4 2017	24.00 %	40.99 %	17.43 %
2017	24.00 %	40.99 %	17.43 %
Q1 2018	23.63 %	40.18 %	16.42 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2008	-	-	-
2009	59.55 %	70.14 %	52.63 %
2010	61.55 %	70.31 %	55.59 %
2011	58.40 %	67.34 %	53.66 %
2012	65.47 %	73.89 %	60.02 %
2013	58.27 %	67.26 %	50.39 %
2014	55.95 %	63.75 %	48.75 %
2015	49.65 %	62.17 %	43.15 %
2016	42.55 %	57.82 %	35.94 %
2017	24.00 %	40.99 %	17.43 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2009	-	-	-
Q2 2009	-	-	-
Q3 2009	-	-	-
Q4 2009	-	-	-
Q1 2010	-	-	-
Q2 2010	-	-	-
Q3 2010	64.21 %	-	57.26 %
Q4 2010	61.55 %	69.69 %	56.65 %
Q1 2011	58.12 %	66.22 %	54.60 %
Q2 2011	-	-	-
Q3 2011	62.63 %	-	56.82 %
Q4 2011	58.83 %	64.32 %	52.31 %
Q1 2012	66.07 %	73.47 %	62.90 %
Q2 2012	62.83 %	69.25 %	58.63 %
Q3 2012	66.11 %	76.94 %	44.84 %
Q4 2012	68.19 %	79.03 %	74.50 %
Q1 2013	58.12 %	68.23 %	52.75 %
Q2 2013	58.92 %	65.15 %	52.31 %
Q3 2013	57.84 %	66.37 %	46.59 %
Q4 2013	57.93 %	70.16 %	49.11 %
Q1 2014	60.24 %	67.78 %	53.60 %
Q2 2014	55.84 %	62.30 %	48.77 %
Q3 2014	62.16 %	71.59 %	51.83 %
Q4 2014	48.49 %	55.39 %	41.18 %
Q1 2015	52.09 %	59.14 %	46.49 %
Q2 2015	53.97 %	64.22 %	46.88 %
Q3 2015	49.77 %	66.70 %	41.60 %
Q4 2015	44.60 %	59.55 %	37.68 %
Q1 2016	46.52 %	58.73 %	40.65 %
Q2 2016	44.66 %	57.83 %	38.34 %
Q3 2016	36.33 %	56.94 %	28.30 %
Q4 2016	40.03 %	57.39 %	33.30 %
Q1 2017	28.15 %	41.69 %	22.64 %
Q2 2017	17.73 %	36.79 %	10.56 %
Q3 2017	26.27 %	47.63 %	18.18 %
Q4 2017	22.60 %	38.74 %	16.41 %
Q1 2018	28.26 %	38.65 %	20.56 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2009	-	-	-	-
Q2 2009	-	-	-	-
Q3 2009	-	-	-	-
Q4 2009	-	-	-	-
Q1 2010	-	-	-	-
Q2 2010	-	-	-	-
Q3 2010	140.00	-	-	7.56
Q4 2010	140.00	-	-	7.06
Q1 2011	140.00	-	-	7.51
Q2 2011	-	-	-	-
Q3 2011	140.00	-	-	7.58
Q4 2011	140.00	-	-	7.14
Q1 2012	140.00	-	-	7.22
Q2 2012	140.00	1.92	1.92	7.77
Q3 2012	140.00	1.93	1.93	13.80
Q4 2012	140.00	1.74	1.84	14.11
Q1 2013	140.00	1.51	1.61	14.48
Q2 2013	140.00	1.48	1.58	15.00
Q3 2013	140.00	1.53	1.63	15.32
Q4 2013	140.00	1.56	1.56	14.31
Q1 2014	140.00	1.66	1.66	14.77
Q2 2014	140.00	1.58	1.58	14.88
Q3 2014	140.00	1.59	1.59	15.21
Q4 2014	140.00	1.58	1.58	14.19
Q1 2015	140.00	1.60	1.60	14.67
Q2 2015	140.00	1.64	1.64	15.16
Q3 2015	140.00	1.65	1.65	15.50
Q4 2015	140.00	1.73	1.73	14.56
Q1 2016	140.00	1.77	1.77	15.08
Q2 2016	140.00	1.74	1.74	15.17
Q3 2016	140.00	1.64	1.64	14.39
Q4 2016	140.00	1.55	1.55	14.71
Q1 2017	140.00	1.29	1.29	14.98
Q2 2017	140.00	0.92	0.92	14.73
Q3 2017	140.00	0.82	0.82	14.87
Q4 2017	140.00	0.67	0.67	15.04
Q1 2018	140.00	0.57	0.57	15.22

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2008	-	-	-	-
2009	140.00	1.27	1.27	6.30
2010	140.00	1.69	1.69	7.06
2011	140.00	1.59	1.59	7.14
2012	140.00	1.74	1.84	14.11
2013	140.00	1.56	1.56	14.31
2014	140.00	1.58	1.58	14.19
2015	140.00	1.73	1.73	14.56
2016	140.00	1.55	1.55	14.71
2017	140.00	0.67	0.67	15.04

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2009	-	-	-
Q2 2009	-	-	-
Q3 2009	-	-	-
Q4 2009	-	-	-
Q1 2010	-	-	-
Q2 2010	-	-	-
Q3 2010	-	-	-
Q4 2010	-	-	-
Q1 2011	-	-	-
Q2 2011	-	-	-
Q3 2011	-	-	-
Q4 2011	-	-	-
Q1 2012	-	-	-
Q2 2012	-	-	-
Q3 2012	-	-	-
Q4 2012	9.94	9.39	1.22
Q1 2013	11.66	10.92	1.22
Q2 2013	14.42	13.49	1.42
Q3 2013	16.84	15.79	1.68
Q4 2013	14.71	14.71	1.60
Q1 2014	14.04	14.04	1.57
Q2 2014	18.41	18.41	1.96
Q3 2014	18.63	18.63	1.95
Q4 2014	14.36	14.36	1.60
Q1 2015	13.78	13.78	1.50
Q2 2015	14.36	14.36	1.56
Q3 2015	10.86	10.86	1.15
Q4 2015	8.71	8.71	1.03
Q1 2016	7.72	7.72	0.91
Q2 2016	8.74	8.74	1.00
Q3 2016	7.32	7.32	0.83
Q4 2016	9.89	9.89	1.04
Q1 2017	9.69	9.69	0.84
Q2 2017	12.56	12.56	0.79
Q3 2017	12.44	12.44	0.69
Q4 2017	17.74	17.74	0.79
Q1 2018	19.78	19.78	0.75

Period	P/E	Adjusted P/E	Price/book
2008	-	-	-
2009	-	-	-
2010	-	-	-
2011	-	-	-
2012	9.94	9.39	1.22
2013	14.71	14.71	1.60
2014	14.36	14.36	1.60
2015	8.71	8.71	1.03
2016	9.89	9.89	1.04
2017	17.74	17.74	0.79

Analysts Estimates (Million)

Item	Q1 2018 (e)	Q1 2018 (a)	Change‬
Average	23.30	24.90	6.88 %

Estimates vs Actual (Million)

Item	Q1 2018 (e)	Q1 2018 (a)	Change
AlJazira Capital	24.50	24.90	1.6 %
OSOOL AND BAKHEET	22.10	24.90	12.7 %

Financial Ratios

	Current
Market Cap (M Riyal)	2,590.00
Enterprise Value (EV) (M)	2,218.47
Shares Outstanding ((M))	140.00
EPS ( Riyal) (TTM)	0.69
Book Value (BV) ( Riyal)	12.58
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	26.98
P/E (TTM)	26.98
Price/book	1.47
Return on Average Assets (%) (TTM)	5.0
Return on Average Equity (%) (TTM)	5.4

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City Cement’s net profit drops 34% in Q1

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Share Price

City Cement Co. (CITY CEMENT)

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

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

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City Cement’s net profit drops 34% in Q1

View other reports

Share Price

City Cement Co. (CITY CEMENT)

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

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

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