Ash-Sharqiyah Development’s 2014 net loss down 55% to SAR 2.5 mln

15/01/2015 Argaam Exclusive

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Share Price

Ash-Sharqiyah Development Co. (SHARQIYAH DEV)

A net profit of SAR 0.2 million was reported for Q4-2014 compared to a loss of SAR 0.2 million for Q3.

Financials (M)

Item	2013	2014	Change‬
Revenues	17.64	19.42	10.1 %
Gross Income	(1.90)	1.17	161.3 %
Operating Income	(7.88)	(4.31)	45.4 %
Net Income	(5.57)	(2.48)	55.6 %
Average Shares	19.65	19.65	-
EPS (Riyals)	(0.28)	(0.13)	55.6 %

The company attributed the 2014’s net loss, compared to the previous year, to the increase of sales by SAR 1.3 million (seven percent) and the decline of operating expenses by SAR 1.9 million (17 percent).

Reporting a net profit for Q4-2014, compared to a net loss for the same period last year, was attributed to the increase of sales by SAR 2.5 million (60 percent) and the decline of operating expenses by 39 percent driven by the efficient use of the company’s resources.

Reporting a net profit for Q4-2014, compared to a net loss for the previous period (Q3-2014), was attributed to the increase of sales by SAR 2.8 million (70 percent) and the decline of operating expenses by seven percent

Current Quarter Comparison (M)

Compared With The

Item	Q4 2013	Q4 2014	Change‬
Revenues	3.76	6.80	81.0 %
Gross Income	(0.82)	1.11	236.7 %
Operating Income	(2.42)	(0.41)	82.9 %
Net Income	(0.94)	0.22	122.8 %
Average Shares	19.65	19.65	-
EPS (Riyals)	(0.05)	0.01	122.8 %

Item	Q3 2014	Q4 2014	Change‬
Revenues	4.00	6.80	70.0 %
Gross Income	0.36	1.11	212.9 %
Operating Income	(0.93)	(0.41)	55.7 %
Net Income	(0.20)	0.22	209.7 %
Average Shares	19.65	19.65	-
EPS (Riyals)	(0.01)	0.01	209.7 %

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
Q1 2005	8.84	34.5 %	(1.23)	(35.4 %)	(0.82)	47.0 %	(0.04)
Q2 2005	13.42	109.2 %	2.06	(15.0 %)	6.35	270.4 %	0.32
Q3 2005	13.81	100.4 %	2.62	498.9 %	2.03	61.0 %	0.10
Q4 2005	19.41	101.8 %	4.22	77.4 %	2.93	563.5 %	0.15
2005	55.47	88.1 %	7.67	77.1 %	10.49	1224.7 %	0.53
Q1 2006	9.50	7.5 %	(1.69)	(38.0 %)	(1.87)	(126.9 %)	(0.09)
Q2 2006	13.25	(1.3 %)	4.53	120.2 %	1.63	(74.3 %)	0.08
Q3 2006	16.85	22.0 %	7.25	176.4 %	4.61	126.9 %	0.23
Q4 2006	13.62	(29.9 %)	(0.05)	(101.1 %)	(3.88)	(232.3 %)	(0.20)
2006	53.21	(4.1 %)	10.04	30.9 %	0.49	(95.3 %)	0.03
Q1 2007	9.25	(2.6 %)	(2.17)	(28.4 %)	(3.06)	(64.0 %)	(0.16)
Q2 2007	10.14	(23.5 %)	1.58	(65.2 %)	(0.08)	(105.1 %)	0.00
Q3 2007	10.55	(37.4 %)	3.42	(52.8 %)	2.15	(53.3 %)	0.11
Q4 2007	24.35	78.9 %	6.15	13178.7 %	3.53	191.0 %	0.18
2007	54.30	2.0 %	8.97	(10.7 %)	2.55	417.5 %	0.13
Q1 2008	13.43	45.1 %	(1.05)	51.7 %	(2.48)	18.9 %	(0.13)
Q2 2008	10.58	4.3 %	3.06	93.7 %	(0.89)	(966.3 %)	(0.05)
Q3 2008	14.29	35.4 %	1.74	(49.1 %)	(0.43)	(119.9 %)	(0.02)
Q4 2008	13.03	(46.5 %)	(6.06)	(198.5 %)	(8.65)	(344.8 %)	(0.44)
2008	51.32	(5.5 %)	(2.31)	(125.7 %)	(12.44)	(588.8 %)	(0.63)
Q1 2009	8.93	(33.5 %)	0.63	160.0 %	(0.80)	67.9 %	(0.04)
Q2 2009	8.99	(15.0 %)	1.69	(44.5 %)	(0.10)	88.2 %	(0.01)
Q3 2009	7.49	(47.6 %)	(0.40)	(122.9 %)	(1.97)	(359.0 %)	(0.10)
Q4 2009	6.83	(47.6 %)	(0.37)	93.9 %	(1.94)	77.6 %	(0.10)
2009	32.23	(37.2 %)	1.55	167.3 %	(4.81)	61.3 %	(0.24)
Q1 2010	8.61	(3.6 %)	(1.71)	(371.9 %)	(3.02)	(279.6 %)	(0.15)
Q2 2010	9.66	7.5 %	0.86	(49.2 %)	(0.27)	(163.5 %)	(0.01)
Q3 2010	7.60	1.4 %	1.51	479.4 %	0.31	115.5 %	0.02
Q4 2010	9.56	40.1 %	(0.66)	(77.8 %)	(2.10)	(8.3 %)	(0.11)
2010	35.43	9.9 %	0.01	(99.5 %)	(5.10)	(5.9 %)	(0.26)
Q1 2011	9.05	5.1 %	0.67	139.2 %	0.27	109.0 %	0.01
Q2 2011	9.98	3.3 %	0.15	(82.8 %)	(1.07)	(291.6 %)	(0.05)
Q3 2011	4.44	(41.6 %)	(1.38)	(191.1 %)	(2.46)	(906.6 %)	(0.13)
Q4 2011	5.72	(40.2 %)	(2.13)	(223.9 %)	(5.95)	(182.8 %)	(0.30)
2011	21.00	(40.7 %)	(1.70)	(24442.9 %)	(9.21)	(80.8 %)	(0.47)
Q1 2012	7.79	(13.9 %)	(2.51)	(474.0 %)	2.59	848.4 %	0.13
Q2 2012	7.32	(26.7 %)	(0.86)	(680.4 %)	(2.39)	(122.7 %)	(0.12)
Q3 2012	4.72	6.3 %	(0.92)	33.5 %	(1.85)	24.6 %	(0.09)
Q4 2012	0.72	(87.3 %)	0.69	132.1 %	(1.71)	71.2 %	(0.09)
2012	20.55	(2.1 %)	(3.60)	(111.2 %)	(3.37)	63.5 %	(0.17)
Q1 2013	5.22	(33.0 %)	(1.79)	28.5 %	(1.76)	(168.0 %)	(0.09)
Q2 2013	4.81	(34.3 %)	(0.02)	97.6 %	(1.35)	43.5 %	(0.07)
Q3 2013	3.85	(18.4 %)	(0.05)	94.4 %	(1.52)	18.2 %	(0.08)
Q4 2013	3.76	419.1 %	(0.82)	(219.0 %)	(0.94)	44.9 %	(0.05)
2013	17.64	(14.2 %)	(1.90)	47.1 %	(5.57)	(65.6 %)	(0.28)
Q1 2014	4.25	(18.5 %)	(0.26)	85.7 %	(1.53)	12.9 %	(0.08)
Q2 2014	4.36	(9.3 %)	(0.38)	(1,709.5 %)	(0.96)	29.2 %	(0.05)
Q3 2014	4.00	3.9 %	0.36	798.0 %	(0.20)	87.1 %	(0.01)
Q4 2014	6.80	81.0 %	1.11	236.7 %	0.22	122.8 %	0.01
2014	19.42	10.1 %	1.17	161.3 %	(2.48)	55.6 %	(0.13)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
2005	55.47	88.1 %	7.67	77.1 %	10.49	1224.7 %	0.53
2006	53.21	(4.1 %)	10.04	30.9 %	0.49	(95.3 %)	0.03
2007	54.30	2.0 %	8.97	(10.7 %)	2.55	417.5 %	0.13
2008	51.32	(5.5 %)	(2.31)	(125.7 %)	(12.44)	(588.8 %)	(0.63)
2009	32.23	(37.2 %)	1.55	167.3 %	(4.81)	61.3 %	(0.24)
2010	35.43	9.9 %	0.01	(99.5 %)	(5.10)	(5.9 %)	(0.26)
2011	21.00	(40.7 %)	(1.70)	(24442.9 %)	(9.21)	(80.8 %)	(0.47)
2012	20.55	(2.1 %)	(3.60)	(111.2 %)	(3.37)	63.5 %	(0.17)
2013	17.64	(14.2 %)	(1.90)	47.1 %	(5.57)	(65.6 %)	(0.28)
2014	19.42	10.1 %	1.17	161.3 %	(2.48)	55.6 %	(0.13)

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2005	12.63 %	22.84 %	4.79 %
Q2 2005	9.41 %	12.83 %	15.88 %
Q3 2005	12.77 %	13.64 %	15.16 %
Q4 2005	13.83 %	21.31 %	18.91 %
2005	13.83 %	21.32 %	18.91 %
Q1 2006	12.83 %	23.10 %	16.83 %
Q2 2006	17.29 %	35.85 %	8.45 %
Q3 2006	24.24 %	41.38 %	12.39 %
Q4 2006	18.87 %	38.93 %	0.93 %
2006	18.87 %	38.93 %	0.92 %
Q1 2007	18.05 %	32.54 %	(1.32 %)
Q2 2007	13.26 %	36.69 %	(4.84 %)
Q3 2007	6.38 %	32.85 %	(11.18 %)
Q4 2007	16.52 %	44.79 %	4.69 %
2007	16.52 %	44.79 %	4.69 %
Q1 2008	17.26 %	42.08 %	5.34 %
Q2 2008	19.65 %	27.78 %	3.94 %
Q3 2008	15.79 %	27.39 %	(0.42 %)
Q4 2008	(4.50 %)	40.90 %	(24.25 %)
2008	(4.50 %)	40.90 %	(24.25 %)
Q1 2009	(1.35 %)	51.07 %	(22.98 %)
Q2 2009	(4.40 %)	53.86 %	(22.06 %)
Q3 2009	(10.75 %)	53.10 %	(29.97 %)
Q4 2009	4.82 %	20.29 %	(14.92 %)
2009	4.82 %	20.29 %	(14.93 %)
Q1 2010	(2.46 %)	15.69 %	(22.05 %)
Q2 2010	(4.97 %)	12.26 %	(22.11 %)
Q3 2010	0.90 %	17.50 %	(15.08 %)
Q4 2010	0.02 %	18.31 %	(14.38 %)
2010	0.02 %	18.31 %	(14.38 %)
Q1 2011	6.66 %	23.05 %	(5.02 %)
Q2 2011	4.63 %	23.66 %	(7.18 %)
Q3 2011	(3.69 %)	15.39 %	(16.24 %)
Q4 2011	(9.23 %)	8.39 %	(31.54 %)
2011	(8.11 %)	16.34 %	(43.86 %)
Q1 2012	(21.01 %)	(3.09 %)	(24.67 %)
Q2 2012	(27.22 %)	(12.99 %)	(32.49 %)
Q3 2012	(25.11 %)	(7.97 %)	(29.76 %)
Q4 2012	(17.51 %)	3.30 %	(42.11 %)
2012	(17.51 %)	3.30 %	(42.11 %)
Q1 2013	(16.04 %)	8.30 %	(72.32 %)
Q2 2013	(13.22 %)	10.41 %	(76.86 %)
Q3 2013	(8.07 %)	19.66 %	(79.13 %)
Q4 2013	(15.19 %)	8.06 %	(27.29 %)
2013	(10.79 %)	7.52 %	(32.08 %)
Q1 2014	(6.86 %)	13.52 %	(27.51 %)
Q2 2014	(9.26 %)	16.90 %	(26.28 %)
Q3 2014	(6.69 %)	6.58 %	(19.15 %)
Q4 2014	4.29 %	19.21 %	(16.44 %)
2014	6.01 %	19.21 %	(16.48 %)

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2005	13.83 %	21.32 %	18.91 %
2006	18.87 %	38.93 %	0.92 %
2007	16.52 %	44.79 %	4.69 %
2008	(4.50 %)	40.90 %	(24.25 %)
2009	4.82 %	20.29 %	(14.93 %)
2010	0.02 %	18.31 %	(14.38 %)
2011	(8.11 %)	16.34 %	(43.86 %)
2012	(17.51 %)	3.30 %	(42.11 %)
2013	(10.79 %)	7.52 %	(32.08 %)
2014	6.01 %	19.21 %	(16.48 %)

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2005	(13.87 %)	11.94 %	(9.30 %)
Q2 2005	15.32 %	20.85 %	47.29 %
Q3 2005	19.00 %	27.19 %	14.72 %
Q4 2005	21.72 %	21.72 %	15.12 %
Q1 2006	(17.80 %)	23.17 %	(19.63 %)
Q2 2006	34.18 %	74.67 %	12.31 %
Q3 2006	43.04 %	48.13 %	27.36 %
Q4 2006	(0.35 %)	3.77 %	(28.52 %)
Q1 2007	(23.48 %)	(13.86 %)	(33.06 %)
Q2 2007	15.55 %	108.00 %	(0.82 %)
Q3 2007	32.41 %	39.12 %	20.41 %
Q4 2007	25.24 %	43.21 %	14.51 %
Q1 2008	(7.81 %)	(7.41 %)	(18.47 %)
Q2 2008	28.89 %	25.58 %	(8.37 %)
Q3 2008	12.19 %	34.46 %	(3.00 %)
Q4 2008	(46.48 %)	110.22 %	(66.41 %)
Q1 2009	7.05 %	21.54 %	(8.92 %)
Q2 2009	18.84 %	35.13 %	(1.16 %)
Q3 2009	(5.33 %)	12.95 %	(26.28 %)
Q4 2009	(5.42 %)	7.18 %	(28.44 %)
Q1 2010	(19.86 %)	4.53 %	(35.10 %)
Q2 2010	8.91 %	22.21 %	(2.84 %)
Q3 2010	19.92 %	35.47 %	4.01 %
Q4 2010	(6.88 %)	13.14 %	(22.00 %)
Q1 2011	7.41 %	24.00 %	3.02 %
Q2 2011	1.48 %	24.45 %	(10.75 %)
Q3 2011	(31.07 %)	(17.65 %)	(55.39 %)
Q4 2011	(37.27 %)	(24.12 %)	(104.00 %)
Q1 2012	(32.17 %)	(14.63 %)	33.23 %
Q2 2012	(11.74 %)	0.27 %	(32.67 %)
Q3 2012	(19.45 %)	9.83 %	(39.27 %)
Q4 2012	94.61 %	184.39 %	(966.57 %)
Q1 2013	(34.33 %)	(6.26 %)	(33.74 %)
Q2 2013	(0.44 %)	2.87 %	(26.61 %)
Q3 2013	(1.32 %)	44.78 %	(39.38 %)
Q4 2013	(21.69 %)	(3.03 %)	(6.84 %)
Q1 2014	(6.02 %)	11.87 %	(36.04 %)
Q2 2014	(8.72 %)	14.36 %	(21.93 %)
Q3 2014	8.90 %	1.50 %	(9.75 %)
Q4 2014	16.38 %	37.32 %	(4.62 %)

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2005	19.65	0.08	0.08	5.18
Q2 2005	19.65	0.31	0.31	5.50
Q3 2005	19.65	0.35	0.35	5.60
Q4 2005	19.65	0.53	0.53	5.75
Q1 2006	19.65	0.48	0.48	5.66
Q2 2006	19.65	0.24	0.24	5.74
Q3 2006	19.65	0.37	0.37	5.98
Q4 2006	19.65	0.03	0.03	5.78
Q1 2007	19.65	(0.04)	(0.04)	5.62
Q2 2007	19.65	(0.12)	(0.12)	5.62
Q3 2007	19.65	(0.25)	(0.25)	5.73
Q4 2007	19.65	0.13	0.13	5.91
Q1 2008	19.65	0.16	0.16	5.78
Q2 2008	19.65	0.12	0.12	5.74
Q3 2008	19.65	(0.01)	(0.01)	5.71
Q4 2008	19.65	(0.63)	(0.63)	5.27
Q1 2009	19.65	(0.55)	(0.55)	4.51
Q2 2009	19.65	(0.51)	(0.51)	4.51
Q3 2009	19.65	(0.59)	(0.59)	4.41
Q4 2009	19.65	(0.24)	(0.24)	4.31
Q1 2010	19.65	(0.36)	(0.36)	4.15
Q2 2010	19.65	(0.37)	(0.37)	4.14
Q3 2010	19.65	(0.25)	(0.25)	4.16
Q4 2010	19.65	(0.26)	(0.26)	4.05
Q1 2011	19.65	(0.09)	(0.09)	4.06
Q2 2011	19.65	(0.13)	(0.13)	4.01
Q3 2011	19.65	(0.27)	(0.27)	3.88
Q4 2011	19.65	(0.47)	(0.47)	3.58
Q1 2012	19.65	(0.35)	(0.35)	3.71
Q2 2012	19.65	(0.42)	(0.42)	3.59
Q3 2012	19.65	(0.39)	(0.39)	3.50
Q4 2012	19.65	(0.17)	(0.44)	3.41
Q1 2013	19.65	(0.39)	(0.66)	3.32
Q2 2013	19.65	(0.34)	(0.61)	3.25
Q3 2013	19.65	(0.32)	(0.59)	3.17
Q4 2013	19.65	(0.28)	(0.24)	3.12
Q1 2014	19.65	(0.27)	(0.23)	3.05
Q2 2014	19.65	(0.25)	(0.22)	3.00
Q3 2014	19.65	(0.18)	(0.16)	2.99
Q4 2014	19.65	(0.13)	(0.16)	3.00

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2005	19.65	0.53	0.53	5.75
2006	19.65	0.03	0.03	5.78
2007	19.65	0.13	0.13	5.91
2008	19.65	(0.63)	(0.63)	5.27
2009	19.65	(0.24)	(0.24)	4.31
2010	19.65	(0.26)	(0.26)	4.05
2011	19.65	(0.47)	(0.47)	3.58
2012	19.65	(0.17)	(0.44)	3.41
2013	19.65	(0.28)	(0.29)	3.12
2014	19.65	(0.13)	(0.16)	3.00

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2005	More than 50	More than 50	2.38
Q2 2005	More than 50	More than 50	2.99
Q3 2005	More than 50	More than 50	5.58
Q4 2005	More than 50	More than 50	8.60
Q1 2006	More than 50	More than 50	6.84
Q2 2006	More than 50	More than 50	11.96
Q3 2006	More than 50	More than 50	14.68
Q4 2006	More than 50	More than 50	5.65
Q1 2007	NEG	NEG	8.19
Q2 2007	NEG	NEG	6.82
Q3 2007	NEG	NEG	7.15
Q4 2007	More than 50	More than 50	6.31
Q1 2008	More than 50	More than 50	3.98
Q2 2008	More than 50	More than 50	3.91
Q3 2008	NEG	NEG	1.87
Q4 2008	NEG	NEG	1.97
Q1 2009	NEG	NEG	3.00
Q2 2009	NEG	NEG	6.89
Q3 2009	NEG	NEG	6.51
Q4 2009	NEG	NEG	5.13
Q1 2010	NEG	NEG	4.95
Q2 2010	NEG	NEG	4.91
Q3 2010	NEG	NEG	5.01
Q4 2010	NEG	NEG	5.74
Q1 2011	NEG	NEG	5.62
Q2 2011	NEG	NEG	5.29
Q3 2011	NEG	NEG	6.40
Q4 2011	NEG	NEG	13.31
Q1 2012	NEG	NEG	8.91
Q2 2012	NEG	NEG	7.01
Q3 2012	NEG	NEG	8.55
Q4 2012	NEG	NEG	9.92
Q1 2013	NEG	NEG	9.84
Q2 2013	NEG	NEG	10.58
Q3 2013	NEG	NEG	11.99
Q4 2013	NEG	NEG	10.31
Q1 2014	NEG	NEG	12.20
Q2 2014	NEG	NEG	15.45
Q3 2014	NEG	NEG	21.44
Q4 2014	NEG	NEG	14.15

Period	P/E	Adjusted P/E	Price/book
2005	More than 50	More than 50	8.60
2006	More than 50	More than 50	5.65
2007	More than 50	More than 50	6.31
2008	NEG	NEG	1.97
2009	NEG	NEG	5.13
2010	NEG	NEG	5.74
2011	NEG	NEG	13.31
2012	NEG	NEG	9.92
2013	NEG	NEG	10.31
2014	NEG	NEG	14.15

Financial Ratios

	Current
Market Cap (M Riyal)	626.40
Enterprise Value (EV) (M)	-
Shares Outstanding ((M))	30.00
EPS ( Riyal) (TTM)	0.09
Book Value (BV) ( Riyal)	4.67
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	More than 50
P/E (TTM)	More than 50
Price/book	1.71
Return on Average Assets (%) (TTM)	0.6
Return on Average Equity (%) (TTM)	0.7

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Ash-Sharqiyah Development’s 2014 net loss down 55% to SAR 2.5 mln

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Share Price

Ash-Sharqiyah Development Co. (SHARQIYAH DEV)

Ash-sharqiyah Development Company, a producer of agriculture and dairy products, reported 2014 net loss of SAR 2.5 million, compared to a net loss of SAR 5.6 million for last year.

A net profit of SAR 0.2 million was reported for Q4-2014 compared to a loss of SAR 0.2 million for Q3.

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

Financial Ratios

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Ash-Sharqiyah Development’s 2014 net loss down 55% to SAR 2.5 mln

View other reports

Share Price

Ash-Sharqiyah Development Co. (SHARQIYAH DEV)

Ash-sharqiyah Development Company, a producer of agriculture and dairy products, reported 2014 net loss of SAR 2.5 million, compared to a net loss of SAR 5.6 million for last year.

A net profit of SAR 0.2 million was reported for Q4-2014 compared to a loss of SAR 0.2 million for Q3.

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

Financial Ratios

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