Maadaniyah net profit falls 18% in 9M 2016

18/10/2016 Argaam Exclusive

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National Metal Manufacturing and Casting Co. (MAADANIYAH)

National Metal Manufacturing and Casting Co. (Maadaniyah) reported a net profit of SAR 25.4 million for the first nine months of 2016, a 17.5 percent year-on-year (YoY) drop, which was attributed to a decrease in sales volume due to lower demand. Higher energy prices, increase in general and administrative expenses, decrease in other income and a rise in zakat provision also impacted the earnings.

Financials (M)

Item	9m 2015	9m 2016	Change‬
Revenues	317.56	211.29	(33.5 %)
Gross Income	59.75	52.80	(11.6 %)
Operating Income	35.88	28.74	(19.9 %)
Net Income	30.82	24.20	(21.5 %)
Average Shares	29.95	29.95	-
EPS (Riyals)	1.03	0.81	(21.5 %)

Net profit for the third quarter slumped 78 percent YoY to SAR 1.96 million as sales volumes remained low due to weaker demand. The Q3 profit was down 84 percent compared with the previous quarter.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2015	Q3 2016	Change‬
Revenues	95.00	50.11	(47.3 %)
Gross Income	17.28	9.73	(43.7 %)
Operating Income	9.44	2.71	(71.3 %)
Net Income	8.93	1.52	(83.0 %)
Average Shares	29.95	29.95	-
EPS (Riyals)	0.30	0.05	(83.0 %)

Item	Q2 2016	Q3 2016	Change‬
Revenues	82.07	50.11	(38.9 %)
Gross Income	21.61	9.73	(55.0 %)
Operating Income	12.81	2.71	(78.8 %)
Net Income	11.01	1.52	(86.2 %)
Average Shares	29.95	29.95	-
EPS (Riyals)	0.37	0.05	(86.2 %)

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)
2007	364.92	28.2 %	64.59	59.1 %	20.68	15.1 %	0.69
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)
2008	500.27	37.1 %	74.20	14.9 %	40.20	94.4 %	1.34
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
2009	319.19	(36.2 %)	43.83	(40.9 %)	15.53	(61.4 %)	0.52
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)
2010	317.84	(0.4 %)	43.99	0.4 %	16.71	7.6 %	0.56
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)
2011	361.47	13.7 %	34.12	(22.4 %)	3.19	(80.9 %)	0.11
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)
2012	400.67	10.8 %	35.41	3.8 %	5.88	84.4 %	0.20
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
2013	381.10	(4.9 %)	43.89	23.9 %	10.70	82.0 %	0.36
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)
2014	413.16	8.4 %	63.67	45.1 %	20.75	93.9 %	0.69
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)
2015	407.32	(1.4 %)	78.22	22.9 %	29.34	41.4 %	0.98
Q1 2016	79.11	(31.1 %)	21.47	0.6 %	11.67	(6.4 %)	0.39
Q2 2016	82.07	(23.9 %)	21.61	2.3 %	11.01	16.9 %	0.37
Q3 2016	50.11	(47.3 %)	9.73	(43.7 %)	1.52	(83.0 %)	0.05

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
2006	284.67	40.1 %	40.59	24.5 %	17.97	(7.5 %)	0.60
2007	364.92	28.2 %	64.59	59.1 %	20.68	15.1 %	0.69
2008	500.27	37.1 %	74.20	14.9 %	40.20	94.4 %	1.34
2009	319.19	(36.2 %)	43.83	(40.9 %)	15.53	(61.4 %)	0.52
2010	317.84	(0.4 %)	43.99	0.4 %	16.71	7.6 %	0.56
2011	361.47	13.7 %	34.12	(22.4 %)	3.19	(80.9 %)	0.11
2012	400.67	10.8 %	35.41	3.8 %	5.88	84.4 %	0.20
2013	381.10	(4.9 %)	43.89	23.9 %	10.70	82.0 %	0.36
2014	413.16	8.4 %	63.67	45.1 %	20.75	93.9 %	0.69
2015	407.32	(1.4 %)	78.22	22.9 %	29.34	41.4 %	0.98

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 %
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 %
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 %
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 %
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 %
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 %
2012	8.84 %	6.55 %	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 %
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 %
2014	15.41 %	12.52 %	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 %
2015	19.20 %	15.79 %	10.08 %
Q1 2016	21.08 %	17.19 %	10.83 %
Q2 2016	22.79 %	18.48 %	12.10 %
Q3 2016	23.68 %	19.21 %	11.44 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2006	14.26 %	12.92 %	6.31 %
2007	17.70 %	16.16 %	10.58 %
2008	14.83 %	12.80 %	8.81 %
2009	13.73 %	11.66 %	4.93 %
2010	13.84 %	11.82 %	5.26 %
2011	9.44 %	6.85 %	0.88 %
2012	8.84 %	6.55 %	1.47 %
2013	11.52 %	8.59 %	2.81 %
2014	15.41 %	12.52 %	7.29 %
2015	19.20 %	15.79 %	10.08 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2007	16.28 %	15.67 %	9.05 %
Q2 2007	18.32 %	17.45 %	10.94 %
Q3 2007	18.12 %	16.61 %	10.98 %
Q4 2007	17.71 %	14.88 %	10.93 %
Q1 2008	22.78 %	20.40 %	16.11 %
Q2 2008	28.27 %	26.15 %	21.49 %
Q3 2008	27.27 %	25.24 %	13.30 %
Q4 2008	(46.26 %)	(47.65 %)	(34.21 %)
Q1 2009	9.48 %	7.95 %	1.32 %
Q2 2009	10.35 %	8.45 %	2.57 %
Q3 2009	18.77 %	17.01 %	9.49 %
Q4 2009	16.73 %	13.70 %	6.69 %
Q1 2010	16.41 %	14.92 %	8.85 %
Q2 2010	19.08 %	16.50 %	10.96 %
Q3 2010	12.04 %	10.03 %	2.18 %
Q4 2010	4.99 %	3.01 %	(4.38 %)
Q1 2011	9.40 %	7.23 %	1.35 %
Q2 2011	12.15 %	8.94 %	2.48 %
Q3 2011	9.79 %	7.75 %	1.40 %
Q4 2011	6.30 %	3.47 %	(1.73 %)
Q1 2012	10.13 %	8.39 %	2.99 %
Q2 2012	9.83 %	7.49 %	2.81 %
Q3 2012	8.98 %	6.55 %	1.70 %
Q4 2012	6.04 %	2.81 %	(2.14 %)
Q1 2013	11.35 %	8.81 %	2.99 %
Q2 2013	11.92 %	9.56 %	4.13 %
Q3 2013	10.36 %	8.52 %	2.04 %
Q4 2013	12.34 %	7.32 %	1.87 %
Q1 2014	16.05 %	12.92 %	6.98 %
Q2 2014	16.02 %	12.72 %	8.05 %
Q3 2014	17.22 %	14.22 %	9.11 %
Q4 2014	12.28 %	10.06 %	5.07 %
Q1 2015	18.61 %	16.03 %	10.87 %
Q2 2015	19.58 %	16.28 %	8.73 %
Q3 2015	18.19 %	14.73 %	9.40 %
Q4 2015	20.58 %	16.03 %	11.41 %
Q1 2016	27.14 %	22.69 %	14.76 %
Q2 2016	26.33 %	21.43 %	13.41 %
Q3 2016	19.41 %	15.77 %	3.03 %

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
Q2 2016	29.95	1.01	1.40	13.70
Q3 2016	29.95	0.76	1.15	13.84

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2006	29.95	0.60	0.60	9.88
2007	29.95	0.69	1.29	10.57
2008	29.95	1.34	1.47	11.35
2009	29.94	0.52	0.53	11.51
2010	29.94	0.56	0.56	11.64
2011	29.94	0.11	0.11	11.75
2012	29.95	0.20	0.20	11.94
2013	29.95	0.36	0.36	12.30
2014	29.95	0.69	1.01	12.99
2015	29.95	0.98	1.37	13.48

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	More than 50	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	More than 50	More than 50	2.42
Q1 2011	More than 50	More than 50	2.26
Q2 2011	More than 50	More than 50	2.17
Q3 2011	More than 50	More than 50	2.01
Q4 2011	More than 50	More than 50	2.88
Q1 2012	More than 50	More than 50	3.34
Q2 2012	More than 50	More than 50	2.11
Q3 2012	More than 50	More than 50	2.44
Q4 2012	More than 50	More than 50	2.30
Q1 2013	More than 50	More than 50	3.05
Q2 2013	More than 50	More than 50	3.24
Q3 2013	More than 50	More than 50	2.67
Q4 2013	More than 50	More than 50	2.73
Q1 2014	More than 50	More than 50	2.83
Q2 2014	More than 50	More than 50	3.19
Q3 2014	More than 50	More than 50	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
Q2 2016	27.20	19.58	2.00
Q3 2016	25.32	16.70	1.39

Period	P/E	Adjusted P/E	Price/book
2006	More than 50	More than 50	3.53
2007	More than 50	32.94	4.02
2008	15.88	14.49	1.88
2009	47.94	47.34	2.16
2010	More than 50	More than 50	2.42
2011	More than 50	More than 50	2.88
2012	More than 50	More than 50	2.30
2013	More than 50	More than 50	2.73
2014	47.17	32.48	2.52
2015	28.26	20.19	2.05

Business Segments (Million)

Compared With The

Period	Manufacturing sectors	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
Q2 2016	64.63	17.44
Q3 2016	37.77	12.34

Period	Manufacturing sectors	engineering industries sector & metal
2010	232.33	85.51
2011	268.26	93.21
2012	284.73	115.94
2013	272.95	108.15
2014	285.18	127.98
2015	305.90	101.43

Financial Ratios

	Current
Market Cap (M Riyal)	597.55
Enterprise Value (EV) (M)	570.24
Shares Outstanding ((M))	35.40
EPS ( Riyal) (TTM)	(0.96)
Book Value (BV) ( Riyal)	6.16
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	Neg
P/E (TTM)	NEG
Price/book	2.74
Return on Average Assets (%) (TTM)	(8.05 )
Return on Average Equity (%) (TTM)	(12.85 )

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Maadaniyah net profit falls 18% in 9M 2016

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Share Price

National Metal Manufacturing and Casting Co. (MAADANIYAH)

Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

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Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million)

Revenue by Business Segment (Latest) 2016 Q3

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Maadaniyah net profit falls 18% in 9M 2016

View other reports

Share Price

National Metal Manufacturing and Casting Co. (MAADANIYAH)

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

Business Segments (Million) Q3 2016

Revenue by Business Segment (Latest) 2016 Q3

Financial Ratios

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Business Segments (Million)