Electrical Industries’ net profit down 57% to SAR 74.5 mln in FY15

20/01/2016 Argaam Exclusive

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Share Price

5.30
(0.14) (2.57 %)

Electrical Industries Co. (EIC)

 

Electrical Industries Co. (EIC) reported a net profit of SAR 74.5 million for the 2015 fiscal year, marking a 56.7 percent year-on-year (YOY) drop, which the company mainly attributed to lower sales and decreasing profit margins.



Financials (M)

Item 2014 2015 Change‬
Revenues 1,046.86 829.24 (20.8 %)
Gross Income 251.64 143.84 (42.8 %)
Operating Income 172.33 72.94 (57.7 %)
Net Income 171.86 70.36 (59.1 %)
Average Shares 1,125.00 1,125.00 -
EPS (Halala) 15.28 6.25 (59.1 %)

 

The company’s Q4-2015 net profit amounted to SAR 16.2 million; a 72.5 percent plunge compared to SAR 58.9 million in the same quarter in 2014, due to lower selling prices and an increase of SAR 5 million in cost of sales. Profit for the period was 71.6 percent higher when compared to the previous quarter.



Current Quarter Comparison (M)

Compared With The
Item Q4 2014 Q4 2015 Change‬
Revenues 230.30 240.95 4.6 %
Gross Income 67.16 33.81 (49.7 %)
Operating Income 50.16 12.70 (74.7 %)
Net Income 58.99 12.14 (79.4 %)
Average Shares 1,125.00 1,125.00 -
EPS (Halala) 5.24 1.08 (79.4 %)


Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Halala)
Q1 2006 - - - - - - -
Q2 2006 - - - - - - -
Q3 2006 - - - - - - -
Q4 2006 - - - - - - -
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 - - - - - - -
Q1 2012 - - - - - - -
Q2 2012 - - - - - - -
Q3 2012 - - - - - - -
Q4 2012 - - - - - - -
Q1 2013 305.08 - 75.09 - 50.37 - 4.48
Q2 2013 338.91 - 53.30 - 27.13 - 2.41
Q3 2013 269.85 - 44.06 - 22.35 - 1.99
Q4 2013 371.41 - 93.81 - 66.11 - 5.88
Q1 2014 346.75 13.7 % 79.63 6.0 % 55.49 10.2 % 4.93
Q2 2014 305.29 (9.9 %) 72.48 36.0 % 44.67 64.7 % 3.97
Q3 2014 164.51 (39.0 %) 32.38 (26.5 %) 12.71 (43.1 %) 1.13
Q4 2014 230.30 (38.0 %) 67.16 (28.4 %) 58.99 (10.8 %) 5.24
Q1 2015 200.41 (42.2 %) 39.30 (50.6 %) 28.79 (48.1 %) 2.56
Q2 2015 196.60 (35.6 %) 38.45 (47.0 %) 19.96 (55.3 %) 1.77
Q3 2015 191.27 16.3 % 32.86 1.5 % 9.47 (25.5 %) 0.84
Q4 2015 240.95 4.6 % 33.81 (49.7 %) 12.14 (79.4 %) 1.08
2015 829.24 (20.8 %) 143.84 (42.8 %) 70.36 (59.1 %) 6.25

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2006 - - -
Q2 2006 - - -
Q3 2006 - - -
Q4 2006 - - -
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 - - -
Q1 2012 - - -
Q2 2012 - - -
Q3 2012 - - -
Q4 2012 - - -
Q1 2013 - - -
Q2 2013 - - -
Q3 2013 - - -
Q4 2013 20.72 % 15.68 % 12.91 %
Q1 2014 20.41 % 15.37 % 12.84 %
Q2 2014 22.42 % 17.41 % 14.35 %
Q3 2014 23.43 % 17.69 % 15.59 %
Q4 2014 24.04 % 18.85 % 15.78 %
Q1 2015 23.47 % 18.36 % 14.73 %
Q2 2015 22.39 % 17.56 % 13.55 %
Q3 2015 21.72 % 16.86 % 11.61 %
Q4 2015 17.41 % 12.27 % 7.19 %
2015 17.35 % 12.25 % 7.19 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Halala) Adjusted EPS (Halala) Book Value (BV)
Q1 2006 - - - -
Q2 2006 - - - -
Q3 2006 - - - -
Q4 2006 - - - -
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 - - - -
Q1 2012 - - - -
Q2 2012 - - - -
Q3 2012 - - - -
Q4 2012 - - - -
Q1 2013 1,125.00 - - 0.48
Q2 2013 1,125.00 - - 0.46
Q3 2013 1,125.00 - - 0.48
Q4 2013 1,125.00 14.75 14.75 0.48
Q1 2014 1,125.00 15.21 15.14 0.53
Q2 2014 1,125.00 16.77 16.50 0.49
Q3 2014 1,125.00 15.91 16.47 0.50
Q4 2014 1,125.00 15.28 14.69 0.56
Q1 2015 1,125.00 12.90 11.79 0.58
Q2 2015 1,125.00 10.71 9.54 0.54
Q3 2015 1,125.00 10.42 8.45 0.55
Q4 2015 1,125.00 6.25 5.30 0.54

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2006 - - -
Q2 2006 - - -
Q3 2006 - - -
Q4 2006 - - -
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 - - -
Q1 2012 - - -
Q2 2012 - - -
Q3 2012 - - -
Q4 2012 - - -
Q1 2013 - - -
Q2 2013 - - -
Q3 2013 - - -
Q4 2013 - - -
Q1 2014 - - -
Q2 2014 - - -
Q3 2014 - - -
Q4 2014 14.57 15.16 4.00
Q1 2015 17.70 19.36 3.92
Q2 2015 20.77 23.32 4.12
Q3 2015 15.94 19.65 3.03
Q4 2015 21.69 25.60 2.52

Business Segments (Million)

Compared With The
Period Manufacturing sector services segment
Q1 2013 293.58 11.50
Q4 2013 353.76 17.65
Q1 2014 330.07 16.68
Q2 2014 290.20 15.09
Q3 2014 149.70 14.82
Q4 2014 208.78 21.52
Q1 2015 179.38 21.03
Q2 2015 182.40 14.20
Q3 2015 181.75 9.53
Q4 2015 221.18 19.77

Current
Market Cap (M Riyal) 5,962.50
Enterprise Value (EV) (M) 6,154.46
Shares Outstanding ((M)) 1,125.00
EPS (Halala) (TTM) 21.43
Book Value (BV) ( Riyal) 0.65
Par Value ( Halala) 50.00
Adjusted P/E (Last12) 23.73
P/E (TTM) 24.73
Price/book 8.12
Return on Average Assets (%) (TTM) 13.0
Return on Average Equity (%) (TTM) 34.4

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