Saudi Company for Hardware’s (SACO) reported a net profit of SAR 84.79 million for the first nine months of 2016, a 3.9 percent year-on-year (YoY) decline, which was attributed to lower sales in Q1 when compared with the same quarter of last year. The firm also saw an increase in operating expenses and higher financing costs due to a rise in interbank rates.
| Item | 9m 2015 | 9m 2016 | Change |
|---|---|---|---|
| Revenues | 924.17 | 939.67 | 1.7 % |
| Gross Income | 191.30 | 184.84 | (3.4 %) |
| Operating Income | 95.60 | 95.20 | (0.4 %) |
| Net Income | 88.20 | 86.84 | (1.5 %) |
| Average Shares | 36.00 | 36.00 | - |
| EPS (Riyals) | 2.45 | 2.41 | (1.5 %) |
Net profit for the third quarter rose 10.1 percent YoY to SAR 20.37 million as sales and other revenues increased, mainly due to the opening of new stores. The Q3 profit fell 44 percent compared to the previous quarter due to the seasonality of sales and public holidays in current quarter.
| Item | Q3 2015 | Q3 2016 | Change |
|---|---|---|---|
| Revenues | 265.36 | 284.97 | 7.4 % |
| Gross Income | 51.73 | 52.50 | 1.5 % |
| Operating Income | 20.93 | 23.54 | 12.4 % |
| Net Income | 18.50 | 21.06 | 13.9 % |
| Average Shares | 36.00 | 36.00 | - |
| EPS (Riyals) | 0.51 | 0.59 | 13.9 % |
| Period | Revenues | Change | Gross Income | Change | Net Income | Change | EPS(Riyal) |
|---|---|---|---|---|---|---|---|
| Q1 2016 | 303.21 | (2.0 %) | 60.75 | (8.7 %) | 28.72 | (15.1 %) | 0.80 |
| Q2 2016 | 351.49 | 0.6 % | 71.59 | (2.0 %) | 37.05 | 3.3 % | 1.03 |
| Q3 2016 | 284.97 | 7.4 % | 52.50 | 1.5 % | 21.06 | 13.9 % | 0.59 |
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| Q1 2016 | 19.97 % | 12.41 % | 9.17 % |
| Q2 2016 | 19.82 % | 12.49 % | 9.25 % |
| Q3 2016 | 19.58 % | 12.51 % | 9.30 % |
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| Q1 2016 | 36.00 | 3.36 | 3.24 | 13.29 |
| Q2 2016 | 36.00 | 3.39 | 3.27 | 13.32 |
| Q3 2016 | 36.00 | 3.47 | 3.34 | 13.90 |
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| Q1 2016 | 17.03 | 17.69 | 4.31 |
| Q2 2016 | 17.42 | 18.08 | 4.44 |
| Q3 2016 | 11.62 | 12.06 | 2.90 |
Q3 2016
| Period | Sales and Services | Logistics services | Retail sector | Wholesale sector |
|---|---|---|---|---|
| Q1 2016 | 303.21 | - | - | - |
| Q2 2016 | 351.49 | - | - | - |
| Q3 2016 | 284.97 | - | - | - |
| Item | Q3 2016 (e) | Q3 2016 (a) | Change |
|---|---|---|---|
| Average | 19.23 | 21.06 | 9.54 % |
| Item | Q3 2016 (e) | Q3 2016 (a) | Change |
|---|---|---|---|
| AlJazira Capital | 19.23 | 21.06 | 9.5 % |
| Current | |
| Market Cap (M Riyal) | 1,409.40 |
| Enterprise Value (EV) (M) | 1,456.19 |
| Shares Outstanding ((M)) | 36.00 |
| EPS ( Riyal) (TTM) | (1.58) |
| Book Value (BV) ( Riyal) | 9.31 |
| Par Value ( Riyal) | 10.00 |
| Adjusted P/E (Last12) | Neg |
| P/E (TTM) | NEG |
| Price/book | 4.21 |
| Return on Average Assets (%) (TTM) | (4.58 ) |
| Return on Average Equity (%) (TTM) | (15.57 ) |
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