SGS reports 12% profit jump in 9M 2019

03/11/2019 Argaam Exclusive

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Share Price

Saudi Ground Services Co. (SGS)

Saudi Ground Services Co. (SGS) reported a net profit of SAR 348.2 million for the first 9 months of 2019, a rise of 11.57 percent year-on-year (YoY), driven by a slump in operating expenses and general and administrative (G&A) expenses.

Financials (M)

Item	9m 2018	9m 2019	Change‬
Revenues	1,982.39	1,940.44	(2.1 %)
Gross Income	536.74	558.89	4.1 %
Operating Income	304.38	344.63	13.2 %
Net Income	312.06	348.19	11.6 %
Average Shares	188.00	188.00	-
EPS (Riyals)	1.66	1.85	11.6 %

SGS’s net profit after zakat and tax for Q3 2019 increased 29.7 percent YoY to SAR 120.2 million, due to lower operating cost, and decreased G&As.

On a sequential basis, Q3 2019 net profit declined 2.9 percent.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2018	Q3 2019	Change‬
Revenues	700.67	683.34	(2.5 %)
Gross Income	166.49	191.44	15.0 %
Operating Income	85.50	113.75	33.0 %
Net Income	92.68	120.21	29.7 %
Average Shares	188.00	188.00	-
EPS (Riyals)	0.49	0.64	29.7 %

Item	Q2 2019	Q3 2019	Change‬
Revenues	648.02	683.34	5.5 %
Gross Income	194.30	191.44	(1.5 %)
Operating Income	125.11	113.75	(9.1 %)
Net Income	123.86	120.21	(2.9 %)
Average Shares	188.00	188.00	-
EPS (Riyals)	0.66	0.64	(2.9 %)

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
Q1 2010	-	-	-	-	-	-	-
Q2 2010	-	-	-	-	-	-	-
Q3 2010	-	-	-	-	-	-	-
Q4 2010	-	-	-	-	-	-	-
2010	-	-	-	-	-	-	-
Q1 2011	-	-	-	-	-	-	-
Q2 2011	-	-	-	-	-	-	-
Q3 2011	-	-	-	-	-	-	-
Q4 2011	-	-	-	-	-	-	-
2011	1,790.60	-	757.11	-	537.84	-	2.86
Q1 2012	-	-	-	-	-	-	-
Q2 2012	-	-	-	-	-	-	-
Q3 2012	-	-	-	-	-	-	-
Q4 2012	-	-	-	-	-	-	-
2012	2,007.12	12.1 %	833.23	10.1 %	589.29	9.6 %	3.13
Q1 2013	-	-	-	-	-	-	-
Q2 2013	-	-	-	-	-	-	-
Q3 2013	-	-	-	-	-	-	-
Q4 2013	-	-	-	-	-	-	-
2013	2,143.85	6.8 %	835.22	0.2 %	605.96	2.8 %	3.22
Q1 2014	-	-	-	-	-	-	-
Q2 2014	500.10	-	198.45	-	151.55	-	0.81
Q3 2014	625.52	-	246.84	-	176.83	-	0.94
Q4 2014	597.88	-	172.57	-	168.10	-	0.89
2014	2,408.03	12.3 %	881.73	5.6 %	656.98	8.4 %	3.49
Q1 2015	622.53	-	156.14	-	110.82	-	0.59
Q2 2015	610.80	22.1 %	224.24	13.0 %	174.28	15.0 %	0.93
Q3 2015	661.14	5.7 %	220.77	(10.6 %)	167.08	(5.5 %)	0.89
Q4 2015	646.04	8.1 %	236.03	36.8 %	168.88	0.5 %	0.90
2015	2,540.51	5.5 %	837.18	(5.1 %)	621.07	(5.5 %)	3.30
Q1 2016	685.76	10.2 %	257.00	64.6 %	192.14	73.4 %	1.02
Q2 2016	692.45	13.4 %	252.28	12.5 %	195.82	12.4 %	1.04
Q3 2016	741.27	12.1 %	251.31	13.8 %	193.71	15.9 %	1.03
Q4 2016	607.19	(6.0 %)	163.66	(30.7 %)	104.10	(38.4 %)	0.55
2016	2,726.67	7.3 %	924.24	10.4 %	685.77	10.4 %	3.65
Q1 2017	643.79	(6.1 %)	222.66	(13.4 %)	155.12	(19.3 %)	0.83
Q2 2017	659.26	(4.8 %)	246.56	(2.3 %)	122.28	(37.6 %)	0.65
Q3 2017	697.26	(5.9 %)	227.75	(9.4 %)	160.05	(17.4 %)	0.85
Q4 2017	585.23	(3.6 %)	177.46	8.4 %	64.05	(38.5 %)	0.34
2017	2,585.53	(5.2 %)	874.44	(5.4 %)	501.50	(26.9 %)	2.67
Q1 2018	621.81	(3.4 %)	180.82	(18.8 %)	106.66	(31.2 %)	0.57
Q2 2018	659.90	0.1 %	189.43	(23.2 %)	112.72	(7.8 %)	0.60
Q3 2018	700.67	0.5 %	166.49	(26.9 %)	92.68	(42.1 %)	0.49
Q4 2018	571.66	(2.3 %)	147.70	(16.8 %)	56.37	(12.0 %)	0.30
2018	2,554.04	(1.2 %)	684.44	(21.7 %)	368.43	(26.5 %)	1.96
Q1 2019	609.07	(2.0 %)	173.15	(4.2 %)	104.12	(2.4 %)	0.55
Q2 2019	648.02	(1.8 %)	194.30	2.6 %	123.86	9.9 %	0.66
Q3 2019	683.34	(2.5 %)	191.44	15.0 %	120.21	29.7 %	0.64

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
2009	-	-	-	-	-	-	-
2010	-	-	-	-	-	-	-
2011	1,790.60	-	757.11	-	537.84	-	2.86
2012	2,007.12	12.1 %	833.23	10.1 %	589.29	9.6 %	3.13
2013	2,143.85	6.8 %	835.22	0.2 %	605.96	2.8 %	3.22
2014	2,408.03	12.3 %	881.73	5.6 %	656.98	8.4 %	3.49
2015	2,540.51	5.5 %	837.18	(5.1 %)	621.07	(5.5 %)	3.30
2016	2,726.67	7.3 %	924.24	10.4 %	685.77	10.4 %	3.65
2017	2,585.53	(5.2 %)	874.44	(5.4 %)	501.50	(26.9 %)	2.67
2018	2,554.04	(1.2 %)	684.44	(21.7 %)	368.43	(26.5 %)	1.96

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2010	-	-	-
Q2 2010	-	-	-
Q3 2010	-	-	-
Q4 2010	-	-	-
2010	-	-	-
Q1 2011	-	-	-
Q2 2011	-	-	-
Q3 2011	-	-	-
Q4 2011	-	-	-
2011	42.28 %	37.63 %	30.04 %
Q1 2012	-	-	-
Q2 2012	-	-	-
Q3 2012	-	-	-
Q4 2012	-	-	-
2012	41.51 %	35.65 %	29.36 %
Q1 2013	-	-	-
Q2 2013	-	-	-
Q3 2013	-	-	-
Q4 2013	-	-	-
2013	38.96 %	34.90 %	28.13 %
Q1 2014	-	-	-
Q2 2014	-	-	-
Q3 2014	-	-	-
Q4 2014	-	-	-
2014	36.62 %	31.46 %	26.36 %
Q1 2015	32.99 %	29.56 %	29.12 %
Q2 2015	32.56 %	30.41 %	28.73 %
Q3 2015	31.04 %	29.51 %	29.19 %
Q4 2015	32.95 %	29.33 %	29.05 %
2015	32.95 %	29.33 %	29.05 %
Q1 2016	36.03 %	32.29 %	27.71 %
Q2 2016	35.98 %	31.76 %	27.67 %
Q3 2016	36.04 %	31.48 %	26.69 %
Q4 2016	33.90 %	29.16 %	25.15 %
2016	33.90 %	29.16 %	25.15 %
Q1 2017	33.15 %	27.84 %	24.16 %
Q2 2017	33.35 %	25.45 %	21.69 %
Q3 2017	33.01 %	24.68 %	20.77 %
Q4 2017	33.82 %	23.73 %	19.40 %
2017	33.82 %	23.73 %	19.40 %
Q1 2018	32.48 %	22.47 %	17.67 %
Q2 2018	30.24 %	22.34 %	17.30 %
Q3 2018	27.82 %	19.65 %	14.65 %
Q4 2018	26.80 %	20.04 %	14.43 %
2018	26.80 %	20.04 %	14.43 %
Q1 2019	26.63 %	20.94 %	14.40 %
Q2 2019	26.95 %	22.05 %	14.91 %
Q3 2019	28.13 %	24.05 %	16.10 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2009	-	-	-
2010	-	-	-
2011	42.28 %	37.63 %	30.04 %
2012	41.51 %	35.65 %	29.36 %
2013	38.96 %	34.90 %	28.13 %
2014	36.62 %	31.46 %	26.36 %
2015	32.95 %	29.33 %	29.05 %
2016	33.90 %	29.16 %	25.15 %
2017	33.82 %	23.73 %	19.40 %
2018	26.80 %	20.04 %	14.43 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2010	-	-	-
Q2 2010	-	-	-
Q3 2010	-	-	-
Q4 2010	-	-	-
Q1 2011	-	-	-
Q2 2011	-	-	-
Q3 2011	-	-	-
Q4 2011	-	-	-
Q1 2012	-	-	-
Q2 2012	-	-	-
Q3 2012	-	-	-
Q4 2012	-	-	-
Q1 2013	-	-	-
Q2 2013	-	-	-
Q3 2013	-	-	-
Q4 2013	-	-	-
Q1 2014	-	-	-
Q2 2014	39.68 %	31.36 %	30.30 %
Q3 2014	39.46 %	34.31 %	28.27 %
Q4 2014	28.86 %	32.11 %	24.40 %
Q1 2015	25.08 %	20.90 %	33.54 %
Q2 2015	36.71 %	34.43 %	28.53 %
Q3 2015	33.39 %	30.72 %	30.04 %
Q4 2015	36.53 %	31.21 %	24.21 %
Q1 2016	37.48 %	32.91 %	28.02 %
Q2 2016	36.43 %	32.14 %	28.28 %
Q3 2016	33.90 %	29.79 %	26.13 %
Q4 2016	26.95 %	20.76 %	17.14 %
Q1 2017	34.59 %	27.65 %	24.09 %
Q2 2017	37.40 %	22.72 %	18.55 %
Q3 2017	32.66 %	27.19 %	22.95 %
Q4 2017	30.32 %	16.43 %	10.94 %
Q1 2018	29.08 %	22.59 %	17.15 %
Q2 2018	28.71 %	22.22 %	17.08 %
Q3 2018	23.76 %	17.31 %	13.23 %
Q4 2018	25.84 %	18.08 %	9.86 %
Q1 2019	28.43 %	26.42 %	17.09 %
Q2 2019	29.98 %	26.56 %	19.11 %
Q3 2019	28.02 %	24.54 %	17.59 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2010	-	-	-	-
Q2 2010	-	-	-	-
Q3 2010	-	-	-	-
Q4 2010	-	-	-	-
Q1 2011	-	-	-	-
Q2 2011	-	-	-	-
Q3 2011	-	-	-	-
Q4 2011	-	-	-	-
Q1 2012	-	-	-	-
Q2 2012	-	-	-	-
Q3 2012	-	-	-	-
Q4 2012	-	-	-	-
Q1 2013	-	-	-	-
Q2 2013	-	-	-	-
Q3 2013	-	-	-	-
Q4 2013	-	-	-	-
Q1 2014	-	-	-	-
Q2 2014	188.00	-	-	12.63
Q3 2014	188.00	-	-	12.96
Q4 2014	188.00	-	-	13.22
Q1 2015	188.00	3.23	3.63	13.20
Q2 2015	188.00	3.35	3.75	14.13
Q3 2015	188.00	3.30	3.87	15.02
Q4 2015	188.00	3.30	3.93	14.38
Q1 2016	188.00	3.74	3.84	14.51
Q2 2016	188.00	3.85	3.95	14.90
Q3 2016	188.00	3.99	3.93	15.28
Q4 2016	188.00	3.65	3.65	15.83
Q1 2017	188.00	3.45	3.45	15.36
Q2 2017	188.00	3.06	3.06	15.36
Q3 2017	188.00	2.88	2.88	15.56
Q4 2017	188.00	2.67	2.67	15.28
Q1 2018	188.00	2.41	2.41	15.84
Q2 2018	188.00	2.36	2.36	15.79
Q3 2018	188.00	2.00	2.00	14.99
Q4 2018	188.00	1.96	1.96	15.30
Q1 2019	188.00	1.95	1.95	15.78
Q2 2019	188.00	2.01	2.01	15.64
Q3 2019	188.00	2.15	2.15	15.28

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2009	-	-	-	-
2010	-	-	-	-
2011	188.00	2.86	2.86	10.70
2012	188.00	3.13	3.13	12.51
2013	188.00	3.22	3.21	11.48
2014	188.00	3.49	3.38	13.22
2015	188.00	3.30	3.93	14.38
2016	188.00	3.65	3.65	15.83
2017	188.00	2.67	2.67	15.28
2018	188.00	1.96	1.96	15.30

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	-	-	-
Q4 2011	-	-	-
Q1 2012	-	-	-
Q2 2012	-	-	-
Q3 2012	-	-	-
Q4 2012	-	-	-
Q1 2013	-	-	-
Q2 2013	-	-	-
Q3 2013	-	-	-
Q4 2013	-	-	-
Q1 2014	-	-	-
Q2 2014	-	-	-
Q3 2014	-	-	-
Q4 2014	-	-	-
Q1 2015	-	-	-
Q2 2015	21.78	19.44	5.17
Q3 2015	18.59	15.85	4.08
Q4 2015	13.70	11.53	3.15
Q1 2016	10.90	10.61	2.81
Q2 2016	12.55	12.23	3.24
Q3 2016	10.15	10.32	2.65
Q4 2016	18.14	18.14	4.18
Q1 2017	14.87	14.87	3.34
Q2 2017	14.71	14.71	2.93
Q3 2017	15.01	15.01	2.78
Q4 2017	14.74	14.74	2.57
Q1 2018	15.28	15.28	2.32
Q2 2018	15.30	15.30	2.29
Q3 2018	17.59	17.59	2.35
Q4 2018	15.77	15.77	2.02
Q1 2019	14.95	14.95	1.84
Q2 2019	14.36	14.36	1.84
Q3 2019	15.29	15.29	2.15

Period	P/E	Adjusted P/E	Price/book
2009	-	-	-
2010	-	-	-
2011	-	-	-
2012	-	-	-
2013	-	-	-
2014	-	-	-
2015	13.70	11.53	3.15
2016	18.14	18.14	4.18
2017	14.74	14.74	2.57
2018	15.77	15.77	2.02

Analysts Estimates (Million)

Item	Q3 2019 (e)	Q3 2019 (a)	Change‬
Average	113.90	120.21	5.54 %

Estimates vs Actual (Million)

Item	Q3 2019 (e)	Q3 2019 (a)	Change
OSOOL AND BAKHEET	117.90	120.21	2.0 %
SNB Capital	125.00	120.21	(3.8) %
AlJazira Capital	98.80	120.21	21.7 %

Financial Ratios

	Current
Market Cap (M Riyal)	9,700.80
Enterprise Value (EV) (M)	8,932.64
Shares Outstanding ((M))	188.00
EPS ( Riyal) (TTM)	1.29
Book Value (BV) ( Riyal)	12.78
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	41.62
P/E (TTM)	39.99
Price/book	4.04
Return on Average Assets (%) (TTM)	5.6
Return on Average Equity (%) (TTM)	10.7

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SGS reports 12% profit jump in 9M 2019

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Share Price

Saudi Ground Services Co. (SGS)

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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SGS reports 12% profit jump in 9M 2019

View other reports

Share Price

Saudi Ground Services Co. (SGS)

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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