eXtra’s FY16 net profit falls 96%

18/01/2017 Argaam Exclusive

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United Electronics Co. (EXTRA)

United Electronics Co. (eXtra) posted a 96 percent year-on-year (YoY) drop in net profit for fiscal year 2016 at SAR 2.1 million attributed to higher selling, distribution, and administration expenses and lower income from trading investments.

The electronics retailer also cited a non-recurring payment of SAR 5.2 million for acquisition advice.

Financials (M)

Item	2015	2016	Change‬
Revenues	3,744.79	3,756.67	0.3 %
Gross Income	577.54	589.29	2.0 %
Operating Income	55.14	23.51	(57.4 %)
Net Income	49.18	(2.36)	(104.8 %)
Average Shares	80.00	80.00	-
EPS (Riyals)	0.61	(0.03)	(104.8 %)

Net profit for fourth quarter rose 9 percent YoY to SAR 27.5 million as sales increased, leading to higher gross profit, along with improved margins. Q4 profit more than doubled when compared to the previous quarter due to higher sales.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2015	Q4 2016	Change‬
Revenues	1,273.91	1,387.04	8.9 %
Gross Income	176.00	213.39	21.2 %
Operating Income	12.59	44.13	250.6 %
Net Income	9.07	26.34	190.2 %
Average Shares	80.00	80.00	-
EPS (Riyals)	0.11	0.33	190.2 %

Item	Q3 2016	Q4 2016	Change‬
Revenues	745.45	1,387.04	86.1 %
Gross Income	133.06	213.39	60.4 %
Operating Income	11.94	44.13	269.7 %
Net Income	6.16	26.34	327.5 %
Average Shares	80.00	80.00	-
EPS (Riyals)	0.08	0.33	327.5 %

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
Q1 2007	-	-	-	-	-	-	-
Q2 2007	-	-	-	-	-	-	-
Q3 2007	-	-	-	-	-	-	-
Q4 2007	-	-	-	-	-	-	-
2007	1,043.58	-	140.25	-	0.99	-	0.01
Q1 2008	-	-	-	-	-	-	-
Q2 2008	-	-	-	-	-	-	-
Q3 2008	-	-	-	-	-	-	-
Q4 2008	-	-	-	-	-	-	-
2008	1,262.14	20.9 %	177.67	26.7 %	15.75	1496.1 %	0.20
Q1 2009	-	-	-	-	-	-	-
Q2 2009	-	-	-	-	-	-	-
Q3 2009	-	-	-	-	-	-	-
Q4 2009	-	-	-	-	-	-	-
2009	1,439.86	14.1 %	225.57	27.0 %	41.05	160.6 %	0.51
Q1 2010	-	-	-	-	-	-	-
Q2 2010	-	-	-	-	-	-	-
Q3 2010	455.43	-	80.77	-	24.52	-	0.31
Q4 2010	531.23	-	101.02	-	37.36	-	0.47
2010	1,778.38	23.5 %	322.09	42.8 %	97.73	138.1 %	1.22
Q1 2011	476.68	-	91.62	-	19.05	-	0.24
Q2 2011	650.72	-	119.43	-	45.46	-	0.57
Q3 2011	610.26	34.0 %	103.99	28.7 %	26.36	7.5 %	0.33
Q4 2011	723.86	36.3 %	120.23	19.0 %	41.21	10.3 %	0.52
2011	2,461.51	38.4 %	435.27	35.1 %	132.08	35.1 %	1.65
Q1 2012	626.03	31.3 %	111.95	22.2 %	23.78	24.8 %	0.30
Q2 2012	726.27	11.6 %	131.05	9.7 %	48.37	6.4 %	0.60
Q3 2012	698.82	14.5 %	120.95	16.3 %	28.37	7.6 %	0.35
Q4 2012	963.92	33.2 %	166.56	38.5 %	58.08	40.9 %	0.73
2012	3,015.04	22.5 %	530.51	21.9 %	158.59	20.1 %	1.98
Q1 2013	723.40	15.6 %	126.65	13.1 %	26.22	10.3 %	0.33
Q2 2013	971.21	33.7 %	160.30	22.3 %	53.30	10.2 %	0.67
Q3 2013	778.64	11.4 %	141.10	16.7 %	29.44	3.8 %	0.37
Q4 2013	914.43	(5.1 %)	173.54	4.2 %	58.37	0.5 %	0.73
2013	3,387.67	12.4 %	601.59	13.4 %	167.33	5.5 %	2.09
Q1 2014	807.33	11.6 %	144.84	14.4 %	29.25	11.6 %	0.37
Q2 2014	984.29	1.3 %	167.96	4.8 %	53.77	0.9 %	0.67
Q3 2014	809.06	3.9 %	144.06	2.1 %	29.75	1.0 %	0.37
Q4 2014	1,088.69	19.1 %	163.90	(5.6 %)	8.28	(85.8 %)	0.10
2014	3,689.36	8.9 %	620.76	3.2 %	121.04	(27.7 %)	1.51
Q1 2015	871.71	8.0 %	134.11	(7.4 %)	16.08	(45.0 %)	0.20
Q2 2015	879.50	(10.6 %)	138.51	(17.5 %)	11.83	(78.0 %)	0.15
Q3 2015	719.66	(11.0 %)	128.60	(10.7 %)	12.20	(59.0 %)	0.15
Q4 2015	1,273.91	17.0 %	176.00	7.4 %	9.07	9.7 %	0.11
2015	3,744.79	1.5 %	577.54	(7.0 %)	49.18	(59.4 %)	0.61
Q1 2016	742.91	(14.8 %)	97.51	(27.3 %)	(45.89)	(385.4 %)	(0.57)
Q2 2016	881.27	0.2 %	145.33	4.9 %	11.02	(6.8 %)	0.14
Q3 2016	745.45	3.6 %	133.06	3.5 %	6.16	(49.5 %)	0.08
Q4 2016	1,387.04	8.9 %	213.39	21.2 %	26.34	190.2 %	0.33
2016	3,756.67	0.3 %	589.29	2.0 %	(2.36)	(104.8 %)	(0.03)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
2007	1,043.58	-	140.25	-	0.99	-	0.01
2008	1,262.14	20.9 %	177.67	26.7 %	15.75	1496.1 %	0.20
2009	1,439.86	14.1 %	225.57	27.0 %	41.05	160.6 %	0.51
2010	1,778.38	23.5 %	322.09	42.8 %	97.73	138.1 %	1.22
2011	2,461.51	38.4 %	435.27	35.1 %	132.08	35.1 %	1.65
2012	3,015.04	22.5 %	530.51	21.9 %	158.59	20.1 %	1.98
2013	3,387.67	12.4 %	601.59	13.4 %	167.33	5.5 %	2.09
2014	3,689.36	8.9 %	620.76	3.2 %	121.04	(27.7 %)	1.51
2015	3,744.79	1.5 %	577.54	(7.0 %)	49.18	(59.4 %)	0.61
2016	3,756.67	0.3 %	589.29	2.0 %	(2.36)	(104.8 %)	(0.03)

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2007	-	-	-
Q2 2007	-	-	-
Q3 2007	-	-	-
Q4 2007	-	-	-
2007	13.44 %	2.48 %	0.09 %
Q1 2008	-	-	-
Q2 2008	-	-	-
Q3 2008	-	-	-
Q4 2008	-	-	-
2008	14.08 %	2.81 %	1.25 %
Q1 2009	-	-	-
Q2 2009	-	-	-
Q3 2009	-	-	-
Q4 2009	-	-	-
2009	15.67 %	4.22 %	2.85 %
Q1 2010	-	-	-
Q2 2010	-	-	-
Q3 2010	-	-	-
Q4 2010	-	-	-
2010	18.11 %	6.65 %	5.50 %
Q1 2011	-	-	-
Q2 2011	18.58 %	6.91 %	5.98 %
Q3 2011	18.34 %	6.79 %	5.65 %
Q4 2011	17.68 %	6.42 %	5.37 %
2011	17.68 %	6.42 %	5.37 %
Q1 2012	17.45 %	6.27 %	5.24 %
Q2 2012	17.39 %	6.25 %	5.20 %
Q3 2012	17.45 %	6.19 %	5.11 %
Q4 2012	17.60 %	6.36 %	5.26 %
2012	17.60 %	6.36 %	5.26 %
Q1 2013	17.52 %	6.29 %	5.17 %
Q2 2013	17.11 %	6.06 %	4.94 %
Q3 2013	17.30 %	6.04 %	4.86 %
Q4 2013	17.76 %	6.21 %	4.94 %
2013	17.76 %	6.21 %	4.94 %
Q1 2014	17.85 %	6.24 %	4.91 %
Q2 2014	18.01 %	6.30 %	4.90 %
Q3 2014	17.93 %	6.28 %	4.87 %
Q4 2014	16.83 %	4.60 %	3.28 %
2014	16.83 %	4.60 %	3.28 %
Q1 2015	16.25 %	4.19 %	2.87 %
Q2 2015	15.91 %	3.15 %	1.81 %
Q3 2015	15.88 %	2.72 %	1.36 %
Q4 2015	15.41 %	2.71 %	1.31 %
2015	15.42 %	2.71 %	1.31 %
Q1 2016	14.95 %	1.10 %	(0.35 %)
Q2 2016	15.13 %	1.00 %	(0.38 %)
Q3 2016	15.15 %	1.01 %	(0.40 %)
Q4 2016	15.69 %	1.78 %	0.49 %
2016	15.69 %	1.78 %	0.49 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2007	13.44 %	2.48 %	0.09 %
2008	14.08 %	2.81 %	1.25 %
2009	15.67 %	4.22 %	2.85 %
2010	18.11 %	6.65 %	5.50 %
2011	17.68 %	6.42 %	5.37 %
2012	17.60 %	6.36 %	5.26 %
2013	17.76 %	6.21 %	4.94 %
2014	16.83 %	4.60 %	3.28 %
2015	15.42 %	2.71 %	1.31 %
2016	15.69 %	1.78 %	0.49 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2007	-	-	-
Q2 2007	-	-	-
Q3 2007	-	-	-
Q4 2007	-	-	-
Q1 2008	-	-	-
Q2 2008	-	-	-
Q3 2008	-	-	-
Q4 2008	-	-	-
Q1 2009	-	-	-
Q2 2009	-	-	-
Q3 2009	-	-	-
Q4 2009	-	-	-
Q1 2010	-	-	-
Q2 2010	-	-	-
Q3 2010	17.74 %	5.40 %	5.38 %
Q4 2010	19.02 %	8.28 %	7.03 %
Q1 2011	19.22 %	5.32 %	4.00 %
Q2 2011	18.35 %	8.02 %	6.99 %
Q3 2011	17.04 %	5.34 %	4.32 %
Q4 2011	16.61 %	6.61 %	5.69 %
Q1 2012	17.88 %	4.97 %	3.80 %
Q2 2012	18.04 %	7.77 %	6.66 %
Q3 2012	17.31 %	5.22 %	4.06 %
Q4 2012	17.28 %	7.02 %	6.03 %
Q1 2013	17.51 %	4.88 %	3.62 %
Q2 2013	16.51 %	6.60 %	5.49 %
Q3 2013	18.12 %	5.20 %	3.78 %
Q4 2013	18.98 %	7.72 %	6.38 %
Q1 2014	17.94 %	5.12 %	3.62 %
Q2 2014	17.06 %	6.83 %	5.46 %
Q3 2014	17.81 %	5.14 %	3.68 %
Q4 2014	15.05 %	1.80 %	0.76 %
Q1 2015	15.38 %	3.32 %	1.84 %
Q2 2015	15.75 %	2.81 %	1.34 %
Q3 2015	17.87 %	3.27 %	1.70 %
Q4 2015	13.82 %	1.91 %	0.71 %
Q1 2016	13.13 %	(4.41 %)	(6.18 %)
Q2 2016	16.49 %	2.38 %	1.25 %
Q3 2016	17.85 %	3.23 %	1.52 %
Q4 2016	15.38 %	3.94 %	3.02 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2007	-	-	-	-
Q2 2007	-	-	-	-
Q3 2007	-	-	-	-
Q4 2007	-	-	-	-
Q1 2008	-	-	-	-
Q2 2008	-	-	-	-
Q3 2008	-	-	-	-
Q4 2008	-	-	-	-
Q1 2009	-	-	-	-
Q2 2009	-	-	-	-
Q3 2009	-	-	-	-
Q4 2009	-	-	-	-
Q1 2010	-	-	-	-
Q2 2010	-	-	-	-
Q3 2010	80.00	-	-	2.57
Q4 2010	80.00	-	-	3.04
Q1 2011	80.00	-	-	3.28
Q2 2011	80.00	1.58	1.58	3.85
Q3 2011	80.00	1.60	1.60	4.18
Q4 2011	80.00	1.65	1.65	4.69
Q1 2012	80.00	1.71	1.71	4.22
Q2 2012	80.00	1.75	1.75	4.83
Q3 2012	80.00	1.77	1.77	5.18
Q4 2012	80.00	1.98	1.98	5.91
Q1 2013	80.00	2.01	2.01	6.23
Q2 2013	80.00	2.07	2.07	6.13
Q3 2013	80.00	2.09	2.09	6.03
Q4 2013	80.00	2.09	2.09	6.10
Q1 2014	80.00	2.13	2.13	6.47
Q2 2014	80.00	2.14	2.14	6.74
Q3 2014	80.00	2.14	2.14	6.74
Q4 2014	80.00	1.51	1.51	6.47
Q1 2015	80.00	1.35	1.35	6.67
Q2 2015	80.00	0.82	0.82	6.61
Q3 2015	80.00	0.60	0.60	6.53
Q4 2015	80.00	0.61	0.61	6.65
Q1 2016	80.00	(0.16)	(0.16)	6.09
Q2 2016	80.00	(0.17)	(0.17)	6.22
Q3 2016	80.00	(0.25)	(0.18)	6.31
Q4 2016	80.00	(0.03)	0.23	6.60

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2007	80.00	0.01	0.01	0.42
2008	80.00	0.20	0.20	1.31
2009	80.00	0.51	0.51	1.82
2010	80.00	1.22	1.22	3.04
2011	80.00	1.65	1.65	4.69
2012	80.00	1.98	1.98	5.91
2013	80.00	2.09	2.09	6.10
2014	80.00	1.51	1.51	6.47
2015	80.00	0.61	0.61	6.65
2016	80.00	(0.03)	0.23	6.60

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2007	-	-	-
Q2 2007	-	-	-
Q3 2007	-	-	-
Q4 2007	-	-	-
Q1 2008	-	-	-
Q2 2008	-	-	-
Q3 2008	-	-	-
Q4 2008	-	-	-
Q1 2009	-	-	-
Q2 2009	-	-	-
Q3 2009	-	-	-
Q4 2009	-	-	-
Q1 2010	-	-	-
Q2 2010	-	-	-
Q3 2010	-	-	-
Q4 2010	-	-	-
Q1 2011	-	-	-
Q2 2011	-	-	-
Q3 2011	-	-	-
Q4 2011	13.96	13.96	4.91
Q1 2012	16.05	16.05	6.50
Q2 2012	14.82	14.82	5.36
Q3 2012	15.79	15.79	5.40
Q4 2012	15.62	15.62	5.24
Q1 2013	18.05	18.05	5.83
Q2 2013	17.58	17.58	5.95
Q3 2013	21.35	21.35	7.40
Q4 2013	17.61	17.61	6.04
Q1 2014	20.14	20.14	6.63
Q2 2014	21.37	21.37	6.77
Q3 2014	20.58	20.58	6.53
Q4 2014	19.84	19.84	4.64
Q1 2015	26.44	26.44	5.35
Q2 2015	45.96	45.96	5.73
Q3 2015	34.06	34.06	3.15
Q4 2015	29.17	29.17	2.70
Q1 2016	NEG	NEG	1.91
Q2 2016	NEG	NEG	1.89
Q3 2016	NEG	NEG	1.28
Q4 2016	NEG	More than 50	1.79

Period	P/E	Adjusted P/E	Price/book
2007	-	-	-
2008	-	-	-
2009	-	-	-
2010	-	-	-
2011	13.96	13.96	4.91
2012	15.62	15.62	5.24
2013	17.61	17.61	6.04
2014	19.84	19.84	4.64
2015	29.17	29.17	2.70
2016	NEG	More than 50	1.79

Analysts Estimates (Million)

Item	Q4 2016 (e)	Q4 2016 (a)	Change‬
Average	10.13	26.34	159.90 %

Estimates vs Actual (Million)

Item	Q4 2016 (e)	Q4 2016 (a)	Change
Albilad Capital	18.00	26.34	46.3 %
SNB Capital	6.40	26.34	311.5 %
Al Rajhi Capital	6.00	26.34	339.0 %

Financial Ratios

	Current
Market Cap (M Riyal)	7,336.00
Enterprise Value (EV) (M)	8,345.25
Shares Outstanding ((M))	80.00
EPS ( Riyal) (TTM)	5.00
Book Value (BV) ( Riyal)	15.37
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	16.75
P/E (TTM)	18.35
Price/book	5.97
Return on Average Assets (%) (TTM)	9.0
Return on Average Equity (%) (TTM)	32.6

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eXtra’s FY16 net profit falls 96%

View other reports

Share Price

United Electronics Co. (EXTRA)

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

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

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eXtra’s FY16 net profit falls 96%

View other reports

Share Price

United Electronics Co. (EXTRA)

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

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

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