Aslak’s profit falls 20% to SAR 72.2 mln in FY15

18/01/2016 Argaam Exclusive

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United Wire Factories Co.’s (Aslak) net profit declined 20 percent to SAR 72.2 million in 2015 on lower selling prices and zakat, despite higher sales volume.

Financials (M)

Item	2014	2015	Change‬
Revenues	952.27	903.38	(5.1 %)
Gross Income	128.15	120.32	(6.1 %)
Operating Income	93.23	81.63	(12.4 %)
Net Income	90.31	72.20	(20.1 %)
Average Shares	28.08	28.08	-
EPS (Riyals)	3.22	2.57	(20.1 %)

In Q4, net income dropped 6.2 percent to SAR 12.1 million as sales and distribution expenses increased and income fell.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2014	Q4 2015	Change‬
Revenues	206.35	218.49	5.9 %
Gross Income	21.79	25.51	17.1 %
Operating Income	13.36	15.32	14.7 %
Net Income	12.87	12.14	(5.7 %)
Average Shares	28.08	28.08	-
EPS (Riyals)	0.46	0.43	(5.7 %)

Item	Q3 2015	Q4 2015	Change‬
Revenues	182.92	218.49	19.4 %
Gross Income	31.98	25.51	(20.2 %)
Operating Income	23.31	15.32	(34.3 %)
Net Income	21.17	12.14	(42.6 %)
Average Shares	28.08	28.08	-
EPS (Riyals)	0.75	0.43	(42.6 %)

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
Q1 2006	-	-	-	-	-	-	-
Q2 2006	-	-	-	-	-	-	-
Q3 2006	-	-	-	-	-	-	-
Q4 2006	-	-	-	-	-	-	-
2006	-	-	-	-	-	-	-
Q1 2007	-	-	-	-	-	-	-
Q2 2007	-	-	-	-	-	-	-
Q3 2007	-	-	-	-	-	-	-
Q4 2007	-	-	-	-	-	-	-
2007	-	-	-	-	-	-	-
Q1 2008	-	-	-	-	-	-	-
Q2 2008	-	-	-	-	-	-	-
Q3 2008	-	-	-	-	-	-	-
Q4 2008	-	-	-	-	-	-	-
2008	454.74	-	105.49	-	69.50	-	2.47
Q1 2009	-	-	-	-	-	-	-
Q2 2009	-	-	-	-	-	-	-
Q3 2009	90.65	-	19.40	-	17.08	-	0.61
Q4 2009	94.28	-	20.83	-	17.26	-	0.61
2009	416.77	(8.3 %)	104.88	(0.6 %)	92.86	33.6 %	3.31
Q1 2010	123.14	-	28.53	-	24.40	-	0.87
Q2 2010	161.54	-	39.27	-	35.60	-	1.27
Q3 2010	133.70	47.5 %	34.29	76.7 %	28.62	67.5 %	1.02
Q4 2010	152.22	61.5 %	30.02	44.1 %	27.10	57.0 %	0.96
2010	570.60	36.9 %	132.11	26.0 %	115.72	24.6 %	4.12
Q1 2011	205.56	66.9 %	42.35	48.4 %	38.88	59.3 %	1.38
Q2 2011	226.57	40.3 %	34.88	(11.2 %)	30.77	(13.6 %)	1.10
Q3 2011	187.98	40.6 %	25.48	(25.7 %)	21.54	(24.7 %)	0.77
Q4 2011	234.97	54.4 %	21.74	(27.6 %)	15.73	(42.0 %)	0.56
2011	855.08	49.9 %	124.45	(5.8 %)	106.91	(7.6 %)	3.81
Q1 2012	277.60	35.0 %	38.27	(9.6 %)	32.93	(15.3 %)	1.17
Q2 2012	283.21	25.0 %	35.30	1.2 %	30.14	(2.1 %)	1.07
Q3 2012	209.77	11.6 %	26.43	3.7 %	21.24	(1.4 %)	0.76
Q4 2012	234.64	(0.1 %)	37.79	73.8 %	31.04	97.4 %	1.11
2012	1,005.22	17.6 %	137.79	10.7 %	115.36	7.9 %	4.11
Q1 2013	278.25	0.2 %	45.51	18.9 %	39.60	20.3 %	1.41
Q2 2013	268.15	(5.3 %)	40.66	15.2 %	33.77	12.0 %	1.20
Q3 2013	225.78	7.6 %	32.13	21.6 %	23.30	9.7 %	0.83
Q4 2013	229.15	(2.3 %)	32.32	(14.5 %)	24.65	(20.6 %)	0.88
2013	1,001.32	(0.4 %)	150.62	9.3 %	121.32	5.2 %	4.32
Q1 2014	279.95	0.6 %	39.33	(13.6 %)	30.38	(23.3 %)	1.08
Q2 2014	262.36	(2.2 %)	37.73	(7.2 %)	30.02	(11.1 %)	1.07
Q3 2014	204.19	(9.6 %)	28.56	(11.1 %)	20.38	(12.5 %)	0.73
Q4 2014	206.35	(10.0 %)	21.79	(32.6 %)	12.87	(47.8 %)	0.46
2014	952.27	(4.9 %)	128.15	(14.9 %)	90.31	(25.6 %)	3.22
Q1 2015	233.19	(16.7 %)	25.04	(36.4 %)	13.96	(54.1 %)	0.50
Q2 2015	268.77	2.4 %	37.80	0.2 %	24.94	(16.9 %)	0.89
Q3 2015	182.92	(10.4 %)	31.98	12.0 %	21.17	3.9 %	0.75
Q4 2015	218.49	5.9 %	25.51	17.1 %	12.14	(5.7 %)	0.43
2015	903.38	(5.1 %)	120.32	(6.1 %)	72.20	(20.1 %)	2.57

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
2006	-	-	-	-	-	-	-
2007	-	-	-	-	-	-	-
2008	454.74	-	105.49	-	69.50	-	2.47
2009	416.77	(8.3 %)	104.88	(0.6 %)	92.86	33.6 %	3.31
2010	570.60	36.9 %	132.11	26.0 %	115.72	24.6 %	4.12
2011	855.08	49.9 %	124.45	(5.8 %)	106.91	(7.6 %)	3.81
2012	1,005.22	17.6 %	137.79	10.7 %	115.36	7.9 %	4.11
2013	1,001.32	(0.4 %)	150.62	9.3 %	121.32	5.2 %	4.32
2014	952.27	(4.9 %)	128.15	(14.9 %)	90.31	(25.6 %)	3.22
2015	903.38	(5.1 %)	120.32	(6.1 %)	72.20	(20.1 %)	2.57

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2006	-	-	-
Q2 2006	-	-	-
Q3 2006	-	-	-
Q4 2006	-	-	-
2006	-	-	-
Q1 2007	-	-	-
Q2 2007	-	-	-
Q3 2007	-	-	-
Q4 2007	-	-	-
2007	-	-	-
Q1 2008	-	-	-
Q2 2008	-	-	-
Q3 2008	-	-	-
Q4 2008	-	-	-
2008	23.20 %	23.21 %	15.28 %
Q1 2009	-	-	-
Q2 2009	-	-	-
Q3 2009	-	-	-
Q4 2009	-	-	-
2009	25.17 %	27.01 %	22.28 %
Q1 2010	-	-	-
Q2 2010	23.00 %	36.55 %	20.09 %
Q3 2010	23.98 %	25.74 %	20.65 %
Q4 2010	23.15 %	24.28 %	20.28 %
2010	23.15 %	24.28 %	20.28 %
Q1 2011	22.35 %	23.14 %	19.94 %
Q2 2011	19.71 %	20.16 %	17.46 %
Q3 2011	17.19 %	17.39 %	15.31 %
Q4 2011	14.55 %	14.14 %	12.50 %
2011	14.55 %	14.14 %	12.50 %
Q1 2012	12.98 %	12.44 %	10.89 %
Q2 2012	12.28 %	11.72 %	10.20 %
Q3 2012	12.11 %	11.47 %	9.95 %
Q4 2012	13.71 %	13.28 %	11.48 %
2012	13.71 %	13.28 %	11.48 %
Q1 2013	14.42 %	13.97 %	12.13 %
Q2 2013	15.18 %	14.55 %	12.68 %
Q3 2013	15.50 %	14.55 %	12.68 %
Q4 2013	15.04 %	13.81 %	12.12 %
2013	15.04 %	13.81 %	12.12 %
Q1 2014	14.40 %	12.89 %	11.18 %
Q2 2014	14.19 %	12.60 %	10.87 %
Q3 2014	14.14 %	12.61 %	10.81 %
Q4 2014	13.37 %	11.74 %	9.83 %
2014	13.46 %	11.68 %	9.48 %
Q1 2015	12.48 %	10.73 %	8.52 %
Q2 2015	12.40 %	10.38 %	7.91 %
Q3 2015	13.08 %	10.92 %	8.18 %
Q4 2015	13.32 %	10.98 %	7.99 %
2015	13.32 %	10.98 %	7.99 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2006	-	-	-
2007	-	-	-
2008	23.20 %	23.21 %	15.28 %
2009	25.17 %	27.01 %	22.28 %
2010	23.15 %	24.28 %	20.28 %
2011	14.55 %	14.14 %	12.50 %
2012	13.71 %	13.28 %	11.48 %
2013	15.04 %	13.81 %	12.12 %
2014	13.46 %	11.68 %	9.48 %
2015	13.32 %	10.98 %	7.99 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2006	-	-	-
Q2 2006	-	-	-
Q3 2006	-	-	-
Q4 2006	-	-	-
Q1 2007	-	-	-
Q2 2007	-	-	-
Q3 2007	-	-	-
Q4 2007	-	-	-
Q1 2008	-	-	-
Q2 2008	-	-	-
Q3 2008	-	-	-
Q4 2008	-	-	-
Q1 2009	-	-	-
Q2 2009	-	-	-
Q3 2009	21.40 %	-	18.84 %
Q4 2009	22.09 %	27.62 %	18.30 %
Q1 2010	23.17 %	24.06 %	19.81 %
Q2 2010	24.31 %	25.08 %	22.04 %
Q3 2010	25.65 %	26.76 %	21.40 %
Q4 2010	19.72 %	21.41 %	17.80 %
Q1 2011	20.60 %	20.53 %	18.91 %
Q2 2011	15.39 %	15.08 %	13.58 %
Q3 2011	13.55 %	13.46 %	11.46 %
Q4 2011	9.25 %	8.17 %	6.69 %
Q1 2012	13.79 %	13.21 %	11.86 %
Q2 2012	12.46 %	12.06 %	10.64 %
Q3 2012	12.60 %	12.09 %	10.13 %
Q4 2012	16.11 %	15.88 %	13.23 %
Q1 2013	16.36 %	15.73 %	14.23 %
Q2 2013	15.16 %	14.07 %	12.59 %
Q3 2013	14.23 %	12.26 %	10.32 %
Q4 2013	14.11 %	12.68 %	10.76 %
Q1 2014	14.05 %	12.44 %	10.85 %
Q2 2014	14.38 %	13.00 %	11.44 %
Q3 2014	13.99 %	12.26 %	9.98 %
Q4 2014	10.56 %	8.66 %	6.24 %
Q1 2015	10.74 %	8.67 %	5.99 %
Q2 2015	14.06 %	11.77 %	9.28 %
Q3 2015	17.48 %	15.11 %	11.57 %
Q4 2015	11.67 %	9.01 %	5.56 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2006	-	-	-	-
Q2 2006	-	-	-	-
Q3 2006	-	-	-	-
Q4 2006	-	-	-	-
Q1 2007	-	-	-	-
Q2 2007	-	-	-	-
Q3 2007	-	-	-	-
Q4 2007	-	-	-	-
Q1 2008	-	-	-	-
Q2 2008	-	-	-	-
Q3 2008	-	-	-	-
Q4 2008	-	-	-	-
Q1 2009	-	-	-	-
Q2 2009	-	-	-	-
Q3 2009	28.08	-	-	10.12
Q4 2009	28.08	-	-	9.97
Q1 2010	28.08	-	-	10.81
Q2 2010	28.08	3.36	3.36	10.86
Q3 2010	28.08	3.77	3.77	11.78
Q4 2010	28.08	4.12	4.12	11.71
Q1 2011	28.08	4.64	4.64	13.00
Q2 2011	28.08	4.46	4.46	13.16
Q3 2011	28.08	4.21	4.21	13.89
Q4 2011	28.08	3.81	3.81	13.47
Q1 2012	28.08	3.60	3.60	13.42
Q2 2012	28.08	3.57	3.57	14.41
Q3 2012	28.08	3.56	3.56	15.08
Q4 2012	28.08	4.11	4.11	14.65
Q1 2013	28.08	4.35	4.35	15.96
Q2 2013	28.08	4.47	4.47	17.07
Q3 2013	28.08	4.55	4.55	16.05
Q4 2013	28.08	4.32	4.32	16.84
Q1 2014	28.08	3.99	3.99	17.84
Q2 2014	28.08	3.86	3.86	18.81
Q3 2014	28.08	3.75	3.75	17.48
Q4 2014	28.08	3.34	3.34	17.92
Q1 2015	28.08	2.75	2.75	17.59
Q2 2015	28.08	2.57	2.57	18.48
Q3 2015	28.08	2.60	2.60	17.99
Q4 2015	28.08	2.57	2.57	18.42

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2006	-	-	-	-
2007	-	-	-	-
2008	28.08	2.47	2.47	9.19
2009	28.08	3.31	3.31	9.97
2010	28.08	4.12	4.12	11.71
2011	28.08	3.81	3.81	13.47
2012	28.08	4.11	4.11	14.65
2013	28.08	4.32	4.32	16.84
2014	28.08	3.22	3.22	17.92
2015	28.08	2.57	2.57	18.42

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2006	-	-	-
Q2 2006	-	-	-
Q3 2006	-	-	-
Q4 2006	-	-	-
Q1 2007	-	-	-
Q2 2007	-	-	-
Q3 2007	-	-	-
Q4 2007	-	-	-
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	9.13	9.13	2.77
Q4 2011	11.11	11.11	3.14
Q1 2012	12.76	12.76	3.42
Q2 2012	9.93	9.93	2.46
Q3 2012	10.62	10.62	2.51
Q4 2012	8.37	8.37	2.35
Q1 2013	8.87	8.87	2.42
Q2 2013	10.44	10.44	2.74
Q3 2013	10.09	10.09	2.86
Q4 2013	10.98	10.98	2.82
Q1 2014	12.90	12.90	2.89
Q2 2014	15.53	15.53	3.19
Q3 2014	17.78	17.78	3.82
Q4 2014	13.79	13.79	2.57
Q1 2015	16.01	16.01	2.50
Q2 2015	17.25	17.25	2.40
Q3 2015	13.40	13.40	1.94
Q4 2015	11.44	11.44	1.60

Period	P/E	Adjusted P/E	Price/book
2006	-	-	-
2007	-	-	-
2008	-	-	-
2009	-	-	-
2010	-	-	-
2011	11.11	11.11	3.14
2012	8.37	8.37	2.35
2013	10.98	10.98	2.82
2014	14.30	14.30	2.57
2015	11.44	11.44	1.60

Business Segments (Million)

Compared With The

Period	Industrial sector	Commercial sector
Q1 2011	154.63	50.93
Q2 2011	172.12	54.45
Q3 2011	145.60	42.39
Q4 2011	192.30	42.67
Q1 2012	227.91	49.69
Q2 2012	226.62	56.58
Q3 2012	164.76	45.00
Q4 2012	192.76	41.89
Q1 2013	233.41	44.84
Q2 2013	212.81	55.33
Q3 2013	176.34	49.44
Q4 2013	190.70	38.45
Q1 2014	212.67	67.27
Q2 2014	189.92	72.44
Q3 2014	145.91	58.28
Q4 2014	229.06	-
Q1 2015	195.39	37.79
Q2 2015	218.15	50.62
Q3 2015	138.48	44.44
Q4 2015	178.67	39.82

Period	Industrial sector	Commercial sector
2010	398.33	172.27
2011	664.64	190.44
2012	812.06	193.17
2013	813.26	188.06
2014	777.56	174.73
2015	730.70	172.68

Analysts Estimates (Million)

Item	Q4 2015 (e)	Q4 2015 (a)	Change‬
Average	18.00	12.14	(32.5 %)

Estimates vs Actual (Million)

Item	Q4 2015 (e)	Q4 2015 (a)	Change
Riyad Capital	18.00	12.14	(32.5) %

Financial Ratios

	Current
Market Cap (M Riyal)	810.11
Enterprise Value (EV) (M)	759.74
Shares Outstanding ((M))	28.08
EPS ( Riyal) (TTM)	0.78
Book Value (BV) ( Riyal)	13.46
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	36.87
P/E (TTM)	36.87
Price/book	2.14
Return on Average Assets (%) (TTM)	4.1
Return on Average Equity (%) (TTM)	5.3

United Wire Factories Co. (ASLAK)

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Aslak’s profit falls 20% to SAR 72.2 mln in FY15

View other reports

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)

Revenue by Business Segment (Latest) 2015 Q4

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

Share Price

United Wire Factories Co. (ASLAK)

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Aslak’s profit falls 20% to SAR 72.2 mln in FY15

View other reports

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) Q4 2015

Revenue by Business Segment (Latest) 2015 Q4

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

Share Price

United Wire Factories Co. (ASLAK)

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Business Segments (Million)