Assir posts higher net profit at SAR 33.4m in Q1 of 2013

31/03/2013 Argaam Exclusive

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Share Price

12.76
0.16 1.27 %

Sinad Holding Co. (SINAD HOLDING)

Aseer Trading, Tourism & Manufacturing Company, reported SAR 33.4m net profit at the end of the first quarter of 2013, an 11% increase compared to the same quarter last year, as shown in the following table:



Current Quarter Comparison (M)

Compared With The
Item Q1 2012 Q1 2013 Change‬
Revenues 522.07 576.88 10.5 %
Gross Income 150.73 186.60 23.8 %
Operating Income 38.28 56.55 47.8 %
Net Income 29.99 33.39 11.3 %
Average Shares 126.39 126.39 -
EPS (Riyals) 0.24 0.26 11.3 %


Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Riyal)
Q1 2004 280.13 - 75.31 - 20.38 - 0.16
Q2 2004 260.09 - 72.56 - 33.19 - 0.26
Q3 2004 260.86 - 71.98 - 44.78 - 0.35
Q4 2004 261.35 303.9 % 65.94 699.3 % 40.19 162.9 % 0.32
Q1 2005 278.23 (0.7 %) 72.03 (4.4 %) 65.76 222.7 % 0.52
Q2 2005 311.90 19.9 % 80.77 11.3 % 65.45 97.2 % 0.52
Q3 2005 308.02 18.1 % 86.03 19.5 % 77.92 74.0 % 0.62
Q4 2005 318.98 22.1 % 86.96 31.9 % 38.96 (3.1 %) 0.31
Q1 2006 338.77 21.8 % 86.44 20.0 % 75.33 14.6 % 0.60
Q2 2006 349.67 12.1 % 95.37 18.1 % 74.66 14.1 % 0.59
Q3 2006 348.71 13.2 % 98.03 13.9 % 81.24 4.3 % 0.64
Q4 2006 340.71 6.8 % 85.57 (1.6 %) 49.42 26.8 % 0.39
Q1 2007 359.38 6.1 % 91.70 6.1 % 82.90 10.0 % 0.66
Q2 2007 366.62 4.8 % 96.71 1.4 % 56.56 (24.2 %) 0.45
Q3 2007 355.39 1.9 % 91.24 (6.9 %) 96.34 18.6 % 0.76
Q4 2007 400.75 17.6 % 91.49 6.9 % 127.15 157.3 % 1.01
Q1 2008 397.39 10.6 % 95.82 4.5 % (77.18) (193.1 %) (0.61)
Q2 2008 472.00 28.7 % 111.63 15.4 % 17.04 (69.9 %) 0.13
Q3 2008 428.97 20.7 % 97.62 7.0 % (158.81) (264.8 %) (1.26)
Q4 2008 428.66 7.0 % 113.21 23.7 % (215.05) (269.1 %) (1.70)
Q1 2009 439.73 10.7 % 109.19 14.0 % 12.88 116.7 % 0.10
Q2 2009 438.15 (7.2 %) 128.67 15.3 % 21.17 24.2 % 0.17
Q3 2009 384.21 (10.4 %) 109.69 12.4 % 15.14 109.5 % 0.12
Q4 2009 450.76 5.2 % 128.99 13.9 % 30.59 114.2 % 0.24
Q1 2010 491.37 11.7 % 135.70 24.3 % 20.38 58.2 % 0.16
Q2 2010 492.03 12.3 % 150.32 16.8 % 25.57 20.8 % 0.20
Q3 2010 442.40 15.1 % 133.16 21.4 % 15.10 (0.2 %) 0.12
Q4 2010 502.15 11.4 % 145.57 12.9 % 23.80 (22.2 %) 0.19
Q1 2011 480.90 (2.1 %) 135.78 0.1 % 24.68 21.1 % 0.20
Q2 2011 523.09 6.3 % 149.94 (0.3 %) 30.57 19.6 % 0.24
Q3 2011 494.99 11.9 % 130.29 (2.2 %) 20.25 34.1 % 0.16
Q4 2011 505.24 0.6 % 154.29 6.0 % 23.28 (2.2 %) 0.18
Q1 2012 522.07 8.6 % 150.73 11.0 % 29.99 21.5 % 0.24
Q2 2012 532.01 1.7 % 160.59 7.1 % 22.13 (27.6 %) 0.18
Q3 2012 536.54 8.4 % 157.11 20.6 % 25.10 23.9 % 0.20
Q4 2012 530.27 5.0 % 169.41 9.8 % 33.85 45.4 % 0.27
Q1 2013 576.88 10.5 % 186.60 23.8 % 33.39 11.3 % 0.26

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2004 - - -
Q2 2004 - - -
Q3 2004 26.35 % 5.15 % 13.13 %
Q4 2004 26.90 % 6.43 % 13.04 %
Q1 2005 26.64 % 7.52 % 17.34 %
Q2 2005 26.14 % 8.10 % 19.43 %
Q3 2005 26.28 % 9.65 % 21.50 %
Q4 2005 26.77 % 10.12 % 20.38 %
Q1 2006 26.63 % 9.71 % 20.17 %
Q2 2006 26.97 % 10.39 % 20.29 %
Q3 2006 27.05 % 10.00 % 19.92 %
Q4 2006 26.52 % 8.90 % 20.37 %
Q1 2007 26.50 % 8.66 % 20.61 %
Q2 2007 26.28 % 8.81 % 19.08 %
Q3 2007 25.68 % 8.36 % 20.06 %
Q4 2007 25.04 % 8.27 % 24.49 %
Q1 2008 24.69 % 8.47 % 13.35 %
Q2 2008 24.00 % 7.99 % 10.05 %
Q3 2008 23.34 % 7.85 % (5.40 %)
Q4 2008 24.22 % 8.52 % (25.13 %)
Q1 2009 24.40 % 8.59 % (19.44 %)
Q2 2009 25.85 % 9.44 % (19.58 %)
Q3 2009 27.25 % 10.23 % (9.81 %)
Q4 2009 27.82 % 10.12 % 4.66 %
Q1 2010 28.51 % 10.72 % 4.95 %
Q2 2010 28.86 % 10.93 % 5.04 %
Q3 2010 29.21 % 11.01 % 4.88 %
Q4 2010 29.29 % 11.52 % 4.40 %
Q1 2011 29.46 % 11.31 % 4.65 %
Q2 2011 28.97 % 10.77 % 4.83 %
Q3 2011 28.06 % 10.32 % 4.96 %
Q4 2011 28.45 % 9.83 % 4.93 %
Q1 2012 28.61 % 9.75 % 5.09 %
Q2 2012 29.01 % 10.19 % 4.66 %
Q3 2012 29.71 % 10.87 % 4.80 %
Q4 2012 30.07 % 11.68 % 5.24 %
Q1 2013 30.96 % 12.33 % 5.26 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2004 126.39 - - 3.73
Q2 2004 126.39 - - 8.30
Q3 2004 126.39 0.90 0.90 9.04
Q4 2004 126.39 1.10 1.10 8.40
Q1 2005 126.39 1.46 1.46 9.85
Q2 2005 126.39 1.71 1.71 11.74
Q3 2005 126.39 1.97 1.97 12.78
Q4 2005 126.39 1.96 1.96 15.56
Q1 2006 126.39 2.04 2.04 15.03
Q2 2006 126.39 2.11 2.11 17.90
Q3 2006 126.39 2.14 2.14 18.41
Q4 2006 126.39 2.22 2.22 13.44
Q1 2007 126.39 2.28 2.28 13.33
Q2 2007 126.39 2.14 2.14 22.55
Q3 2007 126.39 2.26 2.26 23.60
Q4 2007 126.39 2.87 2.87 26.55
Q1 2008 126.39 1.61 1.61 24.55
Q2 2008 126.39 1.29 1.29 24.82
Q3 2008 126.39 (0.73) (0.73) 21.53
Q4 2008 126.39 (3.43) (3.43) 18.30
Q1 2009 126.39 (2.72) (2.72) 18.28
Q2 2009 126.39 (2.69) (2.69) 19.01
Q3 2009 126.39 (1.31) (1.31) 19.21
Q4 2009 126.39 0.63 0.63 19.11
Q1 2010 126.39 0.69 0.69 19.40
Q2 2010 126.39 0.73 0.73 18.19
Q3 2010 126.39 0.73 0.73 18.16
Q4 2010 126.39 0.67 0.67 18.12
Q1 2011 126.39 0.71 0.71 18.21
Q2 2011 126.39 0.74 0.74 18.03
Q3 2011 126.39 0.79 0.79 17.55
Q4 2011 126.39 0.78 0.78 17.93
Q1 2012 126.39 0.82 0.82 20.62
Q2 2012 126.39 0.76 0.76 18.39
Q3 2012 126.39 0.80 0.80 18.82
Q4 2012 126.39 0.88 0.88 19.08
Q1 2013 126.39 0.91 0.91 19.55

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2004 - - 5.80
Q2 2004 - - 2.97
Q3 2004 36.06 36.06 3.58
Q4 2004 33.32 33.32 4.35
Q1 2005 25.98 25.98 3.84
Q2 2005 32.74 32.74 4.77
Q3 2005 49.76 49.76 7.68
Q4 2005 More than 100 More than 100 12.72
Q1 2006 66.11 66.11 8.97
Q2 2006 66.67 66.67 7.86
Q3 2006 60.30 60.30 7.00
Q4 2006 18.95 18.95 3.13
Q1 2007 17.35 17.35 2.97
Q2 2007 14.15 14.15 1.34
Q3 2007 14.40 14.40 1.38
Q4 2007 14.71 14.71 1.59
Q1 2008 21.96 21.96 1.44
Q2 2008 24.57 24.57 1.28
Q3 2008 NEG NEG 0.83
Q4 2008 NEG NEG 0.54
Q1 2009 NEG NEG 0.63
Q2 2009 NEG NEG 0.78
Q3 2009 NEG NEG 0.84
Q4 2009 24.08 24.08 0.80
Q1 2010 22.88 22.88 0.81
Q2 2010 17.92 17.92 0.71
Q3 2010 18.13 18.13 0.72
Q4 2010 20.18 20.18 0.75
Q1 2011 18.71 18.71 0.72
Q2 2011 18.06 18.06 0.75
Q3 2011 15.34 15.34 0.69
Q4 2011 19.96 19.96 0.87
Q1 2012 27.14 27.14 1.08
Q2 2012 20.41 20.41 0.84
Q3 2012 20.81 20.81 0.88
Q4 2012 18.83 18.83 0.87
Q1 2013 19.16 19.16 0.89

Current
Market Cap (M Riyal) 1,612.72
Enterprise Value (EV) (M) 2,416.26
Shares Outstanding ((M)) 126.39
EPS ( Riyal) (TTM) (0.99)
Book Value (BV) ( Riyal) 8.27
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 1.54
Return on Average Assets (%) (TTM) (4.82 )
Return on Average Equity (%) (TTM) (11.18 )

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