Maadaniyah’s Q1 net profit drops 8%

19/04/2016 Argaam Exclusive

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National Metal Manufacturing and Casting Co. (MAADANIYAH)

 

National Metal Manufacturing and Casting Company (Maadaniyah), a manufacturer of pre-stressed concrete strand, axle, and welding wires, reported a net profit of SAR 11.5 million for the first quarter of 2016, a 7.6 percent year-on-year decline that the company attributed to lower sales and other income, along with higher general and administrative expenses, and zakat provisions.

 

In Q4-2015, Maadaniyah posted a loss of SAR 1.48 million. This quarter, however, the company said profit rose because it paid less for raw materials, selling and distribution expenses, and general and administrative expenses. 



Current Quarter Comparison (M)

Compared With The
Item Q1 2015 Q1 2016 Change‬
Revenues 114.77 79.11 (31.1 %)
Gross Income 21.35 21.47 0.6 %
Operating Income 13.55 13.22 (2.5 %)
Net Income 12.47 11.67 (6.4 %)
Average Shares 29.95 29.95 -
EPS (Riyals) 0.42 0.39 (6.4 %)


Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Riyal)
Q1 2007 70.87 18.6 % 11.54 180.4 % 5.89 484.9 % 0.20
Q2 2007 91.63 30.1 % 16.79 120.1 % 9.50 256.0 % 0.32
Q3 2007 101.56 34.3 % 18.40 25.9 % 10.49 9.6 % 0.35
Q4 2007 100.86 27.9 % 17.86 25.4 % (5.19) (171.5 %) (0.17)
Q1 2008 112.58 58.9 % 25.65 122.3 % 17.28 193.2 % 0.58
Q2 2008 149.60 63.3 % 42.30 152.0 % 28.60 201.2 % 0.96
Q3 2008 158.31 55.9 % 43.17 134.6 % 21.30 103.0 % 0.71
Q4 2008 79.78 (20.9 %) (36.91) (306.7 %) (26.98) (419.5 %) (0.90)
Q1 2009 78.36 (30.4 %) 7.43 (71.1 %) 1.04 (94.0 %) 0.03
Q2 2009 84.53 (43.5 %) 8.75 (79.3 %) 2.18 (92.4 %) 0.07
Q3 2009 73.70 (53.4 %) 13.83 (68.0 %) 6.99 (67.2 %) 0.23
Q4 2009 82.59 3.5 % 13.82 137.4 % 5.33 119.7 % 0.18
Q1 2010 92.24 17.7 % 15.14 103.9 % 8.16 686.1 % 0.27
Q2 2010 92.80 9.8 % 17.71 102.3 % 10.17 367.5 % 0.34
Q3 2010 64.06 (13.1 %) 7.71 (44.2 %) 1.40 (80.0 %) 0.05
Q4 2010 68.73 (16.8 %) 3.43 (75.2 %) (3.01) (156.6 %) (0.10)
Q1 2011 89.62 (2.8 %) 8.42 (44.4 %) 1.21 (85.2 %) 0.04
Q2 2011 96.90 4.4 % 11.78 (33.5 %) 2.41 (76.3 %) 0.08
Q3 2011 82.88 29.4 % 8.12 5.2 % 1.16 (17.1 %) 0.04
Q4 2011 92.06 33.9 % 5.80 69.3 % (1.59) 47.2 % (0.05)
Q1 2012 95.35 6.4 % 9.66 14.7 % 2.85 135.2 % 0.10
Q2 2012 109.40 12.9 % 10.75 (8.7 %) 3.07 27.7 % 0.10
Q3 2012 107.83 30.1 % 9.68 19.3 % 1.84 58.7 % 0.06
Q4 2012 88.09 (4.3 %) 5.32 (8.4 %) (1.88) (18.4 %) (0.06)
Q1 2013 98.87 3.7 % 11.23 16.3 % 2.96 3.9 % 0.10
Q2 2013 102.54 (6.3 %) 12.22 13.7 % 4.23 37.6 % 0.14
Q3 2013 87.91 (18.5 %) 9.11 (5.9 %) 1.80 (2.3 %) 0.06
Q4 2013 91.78 4.2 % 11.33 113.0 % 1.72 191.2 % 0.06
Q1 2014 110.75 12.0 % 17.78 58.4 % 7.74 161.4 % 0.26
Q2 2014 109.63 6.9 % 17.56 43.7 % 8.82 108.6 % 0.29
Q3 2014 94.13 7.1 % 16.21 78.0 % 8.58 377.9 % 0.29
Q4 2014 98.65 7.5 % 12.12 7.0 % (4.39) (355.4 %) (0.15)
Q1 2015 114.77 3.6 % 21.35 20.1 % 12.47 61.3 % 0.42
Q2 2015 107.80 (1.7 %) 21.11 20.2 % 9.42 6.7 % 0.31
Q3 2015 95.00 0.9 % 17.28 6.6 % 8.93 4.1 % 0.30
Q4 2015 89.76 (9.0 %) 18.47 52.5 % (1.48) 66.2 % (0.05)
Q1 2016 79.11 (31.1 %) 21.47 0.6 % 11.67 (6.4 %) 0.39

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2007 16.23 % 15.03 % 8.76 %
Q2 2007 18.04 % 16.92 % 10.50 %
Q3 2007 17.78 % 16.47 % 10.16 %
Q4 2007 17.70 % 16.16 % 10.58 %
Q1 2008 19.35 % 17.42 % 12.38 %
Q2 2008 22.43 % 20.23 % 15.60 %
Q3 2008 24.74 % 22.45 % 15.80 %
Q4 2008 14.83 % 12.80 % 8.81 %
Q1 2009 12.01 % 10.15 % 5.78 %
Q2 2009 5.60 % 3.82 % (0.75 %)
Q3 2009 (2.18 %) (3.83 %) (5.40 %)
Q4 2009 13.73 % 11.66 % 4.93 %
Q1 2010 15.47 % 13.44 % 6.86 %
Q2 2010 17.72 % 15.51 % 9.04 %
Q3 2010 16.39 % 14.11 % 7.61 %
Q4 2010 13.84 % 11.82 % 5.26 %
Q1 2011 11.83 % 9.61 % 3.10 %
Q2 2011 9.81 % 7.40 % 0.63 %
Q3 2011 9.39 % 6.99 % 0.52 %
Q4 2011 9.44 % 6.85 % 0.88 %
Q1 2012 9.63 % 7.16 % 1.31 %
Q2 2012 9.04 % 6.80 % 1.45 %
Q3 2012 8.87 % 6.54 % 1.52 %
Q4 2012 8.84 % 6.42 % 1.47 %
Q1 2013 9.15 % 6.54 % 1.48 %
Q2 2013 9.68 % 7.06 % 1.80 %
Q3 2013 10.04 % 7.55 % 1.88 %
Q4 2013 11.52 % 8.59 % 2.81 %
Q1 2014 12.83 % 9.75 % 3.94 %
Q2 2014 13.94 % 10.61 % 5.02 %
Q3 2014 15.48 % 11.90 % 6.61 %
Q4 2014 15.41 % 12.48 % 7.29 %
Q1 2015 16.12 % 13.34 % 8.36 %
Q2 2015 17.04 % 14.26 % 8.54 %
Q3 2015 17.27 % 14.38 % 8.61 %
Q4 2015 19.20 % 15.79 % 10.08 %
Q1 2016 21.08 % 17.19 % 10.83 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2007 29.95 0.85 0.87 10.08
Q2 2007 29.95 1.08 1.11 10.40
Q3 2007 29.95 1.11 1.16 10.75
Q4 2007 29.95 0.69 1.29 10.57
Q1 2008 29.95 1.07 1.68 11.15
Q2 2008 29.95 1.71 2.42 11.54
Q3 2008 29.95 2.07 2.75 12.25
Q4 2008 29.95 1.34 1.47 11.35
Q1 2009 29.95 0.80 0.90 11.39
Q2 2009 29.94 (0.08) (0.10) 11.10
Q3 2009 29.94 (0.56) (0.57) 11.33
Q4 2009 29.94 0.52 0.53 11.51
Q1 2010 29.94 0.76 0.76 11.78
Q2 2010 29.94 1.02 1.03 11.69
Q3 2010 29.94 0.84 0.84 11.74
Q4 2010 29.94 0.56 0.56 11.64
Q1 2011 29.94 0.33 0.33 11.68
Q2 2011 29.94 0.07 0.07 11.76
Q3 2011 29.94 0.06 0.06 11.80
Q4 2011 29.94 0.11 0.11 11.75
Q1 2012 29.95 0.16 0.16 11.84
Q2 2012 29.95 0.18 0.18 11.94
Q3 2012 29.95 0.21 0.21 12.00
Q4 2012 29.95 0.20 0.20 11.94
Q1 2013 29.95 0.20 0.20 12.04
Q2 2013 29.95 0.24 0.24 12.18
Q3 2013 29.95 0.24 0.24 12.24
Q4 2013 29.95 0.36 0.36 12.30
Q1 2014 29.95 0.52 0.52 12.56
Q2 2014 29.95 0.67 0.67 12.85
Q3 2014 29.95 0.90 0.90 13.14
Q4 2014 29.95 0.69 1.01 12.99
Q1 2015 29.95 0.85 1.16 13.41
Q2 2015 29.95 0.87 1.18 13.23
Q3 2015 29.95 0.88 1.20 13.53
Q4 2015 29.95 0.98 1.37 13.48
Q1 2016 29.95 0.95 1.34 13.80

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2007 39.32 38.54 3.31
Q2 2007 32.01 31.00 3.31
Q3 2007 42.92 40.81 4.42
Q4 2007 61.48 32.94 4.02
Q1 2008 31.87 20.30 3.06
Q2 2008 26.57 18.77 3.93
Q3 2008 21.47 16.15 3.63
Q4 2008 15.88 14.49 1.88
Q1 2009 25.56 22.72 1.80
Q2 2009 NEG NEG 2.47
Q3 2009 NEG NEG 2.37
Q4 2009 47.94 47.34 2.16
Q1 2010 31.06 30.79 1.99
Q2 2010 19.35 19.23 1.69
Q3 2010 24.21 24.02 1.73
Q4 2010 50.37 50.37 2.42
Q1 2011 81.08 81.08 2.26
Q2 2011 More than 100 More than 100 2.17
Q3 2011 More than 100 More than 100 2.01
Q4 2011 More than 100 More than 100 2.88
Q1 2012 More than 100 More than 100 3.34
Q2 2012 More than 100 More than 100 2.11
Q3 2012 More than 100 More than 100 2.44
Q4 2012 More than 100 More than 100 2.30
Q1 2013 More than 100 More than 100 3.05
Q2 2013 More than 100 More than 100 3.24
Q3 2013 More than 100 More than 100 2.67
Q4 2013 93.80 93.80 2.73
Q1 2014 68.83 68.83 2.83
Q2 2014 61.23 61.23 3.19
Q3 2014 68.89 68.89 4.70
Q4 2014 47.17 32.48 2.52
Q1 2015 40.85 29.86 2.59
Q2 2015 44.90 33.02 2.96
Q3 2015 32.07 23.67 2.09
Q4 2015 28.26 20.19 2.05
Q1 2016 26.57 18.83 1.83

Business Segments (Million)

Compared With The
Period Transformative Industries engineering industries sector & metal
Q1 2011 67.95 21.67
Q2 2011 70.27 26.63
Q3 2011 59.67 23.21
Q4 2011 70.37 21.69
Q1 2012 63.98 31.37
Q2 2012 78.07 31.33
Q3 2012 80.22 27.62
Q4 2012 62.45 25.63
Q1 2013 69.05 29.81
Q2 2013 72.51 30.03
Q3 2013 65.06 22.69
Q4 2013 66.25 25.55
Q1 2014 73.92 36.84
Q2 2014 71.32 38.31
Q3 2014 70.30 23.83
Q4 2014 69.65 29.00
Q1 2015 84.21 30.56
Q2 2015 81.85 25.95
Q3 2015 73.97 21.03
Q4 2015 65.87 23.89
Q1 2016 55.05 24.06

Current
Market Cap (M Riyal) 581.27
Enterprise Value (EV) (M) 556.01
Shares Outstanding ((M)) 35.40
EPS ( Riyal) (TTM) (0.96)
Book Value (BV) ( Riyal) 7.82
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 2.10
Return on Average Assets (%) (TTM) (7.96 )
Return on Average Equity (%) (TTM) (11.56 )

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