SACO posts SAR 94 mln profit for 9M 2017

02/11/2017 Argaam Exclusive

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Share Price

Saudi Company for Hardware
39.85
0.35 0.89 %

Saudi Company for Hardware (SACO)

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Saudi Company for Hardware (SACO) reported a net profit of SAR 93.9 million in the first nine months of 2017, an 8.1 percent year-on-year (YoY) increase attributed to robust sales.



Financials (M)

Item 9m 2016 9m 2017 Change‬
Revenues 939.67 1,026.09 9.2 %
Gross Income 184.84 199.80 8.1 %
Operating Income 95.20 104.16 9.4 %
Net Income 86.84 93.91 8.1 %
Average Shares 36.00 36.00 -
EPS (Riyals) 2.41 2.61 8.1 %

The Q3 net profit rose 8.2 percent YoY to SAR 22.8 million due to higher sales, in addition to increasing the number of branches to 28.

 

Compared to the previous quarter, Q3 net earnings declined 43.5 percent.



Current Quarter Comparison (M)

Compared With The
Item Q3 2016 Q3 2017 Change‬
Revenues 284.97 322.91 13.3 %
Gross Income 52.50 61.14 16.5 %
Operating Income 23.54 27.25 15.8 %
Net Income 21.06 22.79 8.2 %
Average Shares 36.00 36.00 -
EPS (Riyals) 0.59 0.63 8.2 %


Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Riyal)
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 235.95 - 51.43 - 21.91 - 0.61
Q2 2013 250.04 - 58.02 - 24.09 - 0.67
Q3 2013 247.86 - 50.19 - 23.30 - 0.65
Q4 2013 227.44 - 59.10 - 33.44 - 0.93
Q1 2014 228.78 (3.0 %) 55.47 7.8 % 25.64 17.0 % 0.71
Q2 2014 293.71 17.5 % 74.84 29.0 % 37.67 56.4 % 1.05
Q3 2014 248.61 0.3 % 55.97 11.5 % 16.61 (28.7 %) 0.46
Q4 2014 313.76 38.0 % 65.22 10.4 % 30.10 (10.0 %) 0.84
Q1 2015 309.45 35.3 % 66.55 20.0 % 33.83 32.0 % 0.94
Q2 2015 349.36 18.9 % 73.02 (2.4 %) 35.87 (4.8 %) 1.00
Q3 2015 265.36 6.7 % 51.73 (7.6 %) 18.50 11.4 % 0.51
Q4 2015 352.74 12.4 % 68.22 4.6 % 37.91 26.0 % 1.05
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
Q4 2016 384.42 9.0 % 75.76 11.1 % 42.14 11.2 % 1.17
Q1 2017 326.29 7.6 % 62.01 2.1 % 30.76 7.1 % 0.85
Q2 2017 376.33 7.1 % 76.65 7.1 % 40.36 8.9 % 1.12
Q3 2017 322.91 13.3 % 61.14 16.5 % 22.79 8.2 % 0.63

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
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 22.76 % 13.03 % 10.69 %
Q1 2014 23.35 % 13.76 % 11.16 %
Q2 2014 24.01 % 14.60 % 12.03 %
Q3 2014 24.57 % 14.26 % 11.35 %
Q4 2014 23.18 % 13.32 % 10.11 %
Q1 2015 22.53 % 13.19 % 10.12 %
Q2 2015 21.35 % 12.71 % 9.51 %
Q3 2015 20.72 % 12.77 % 9.53 %
Q4 2015 20.32 % 12.69 % 9.52 %
Q1 2016 19.97 % 12.41 % 9.17 %
Q2 2016 19.82 % 12.49 % 9.25 %
Q3 2016 19.58 % 12.51 % 9.30 %
Q4 2016 19.68 % 13.01 % 9.74 %
Q1 2017 19.44 % 12.97 % 9.72 %
Q2 2017 19.45 % 13.13 % 9.79 %
Q3 2017 19.54 % 13.17 % 9.65 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
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 36.00 - - 5.90
Q2 2013 36.00 - - 5.88
Q3 2013 36.00 - - 6.52
Q4 2013 36.00 2.85 2.85 7.45
Q1 2014 36.00 2.96 2.96 8.17
Q2 2014 36.00 3.33 3.33 9.21
Q3 2014 36.00 3.15 3.15 9.67
Q4 2014 36.00 3.06 3.05 10.51
Q1 2015 36.00 3.28 3.28 11.45
Q2 2015 36.00 3.23 3.23 12.45
Q3 2015 36.00 3.29 3.28 12.96
Q4 2015 36.00 3.50 3.38 12.68
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
Q4 2016 36.00 3.58 3.58 14.07
Q1 2017 36.00 3.64 3.64 14.93
Q2 2017 36.00 3.73 3.73 16.05
Q3 2017 36.00 3.78 3.78 15.51

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
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 - - -
Q1 2015 - - -
Q2 2015 27.52 27.59 7.15
Q3 2015 20.09 20.14 5.09
Q4 2015 18.94 19.64 5.23
Q1 2016 17.03 17.69 4.31
Q2 2016 17.42 18.08 4.44
Q3 2016 11.62 12.06 2.90
Q4 2016 15.89 15.89 4.04
Q1 2017 16.53 16.53 4.03
Q2 2017 18.94 18.94 4.40
Q3 2017 19.09 19.09 4.65

Business Segments (Million)

Compared With The
Period Sales and Services Logistics services Retail sector Wholesale sector
Q1 2014 - - 226.13 2.65
Q2 2014 - - 289.37 4.34
Q3 2014 - - 244.04 4.57
Q4 2014 - - 309.31 4.44
Q1 2015 - - 305.27 4.18
Q2 2015 - - 345.35 4.01
Q3 2015 - - 261.48 3.89
Q4 2015 - - 349.28 3.46
Q1 2016 303.21 - - -
Q2 2016 351.49 - - -
Q3 2016 284.97 - - -
Q4 2016 382.52 - - -
Q1 2017 323.49 2.79 - -
Q2 2017 373.84 2.49 - -
Q3 2017 320.88 2.60 - -

Analysts Estimates (Million)

Item Q3 2017 (e) Q3 2017 (a) Change‬
Average 24.31 22.79 (6.3 %)

Estimates vs Actual (Million)

Item Q3 2017 (e) Q3 2017 (a) Change
Alistithmar Capital 22.63 22.79 0.7 %
AlJazira Capital 22.60 22.79 0.8 %
OSOOL AND BAKHEET 23.00 22.79 (0.9) %
Arbah Capital 29.00 22.79 (21.4) %


Financial Ratios
Current
Market Cap (M Riyal) 1,434.60
Enterprise Value (EV) (M) 1,486.56
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 4.28
Return on Average Assets (%) (TTM) (4.69 )
Return on Average Equity (%) (TTM) (15.57 )
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