Aseer Trading’s net profit falls 81% in 9M 2018

07/11/2018 Argaam Exclusive

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Share Price

Sinad Holding Co. (SINAD HOLDING)

Aseer Trading, Tourism and Manufacturing Co. reported a net profit of SAR 5.3 million for the first nine months of 2018, an 81.5 percent year-on-year (YoY) plunge due to lower gross income and incurring higher losses from investments.

Financials (M)

Item	9m 2017	9m 2018	Change‬
Revenues	1,388.67	1,348.04	(2.9 %)
Gross Income	446.37	399.04	(10.6 %)
Operating Income	95.95	100.68	4.9 %
Net Income	28.74	5.26	(81.7 %)
Average Shares	126.39	126.39	-
EPS (Riyals)	0.23	0.04	(81.7 %)

The company swung to a net loss of SAR 4.5 million in Q3,compared to a net profit of SAR 4.4 million a year earlier on lower gross income and incurring higher losses from investments.

When compared to the previous quarter, the firm more than doubled its loss due to higher losses from investments.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2017	Q3 2018	Change‬
Revenues	503.24	483.73	(3.9 %)
Gross Income	161.51	151.85	(6.0 %)
Operating Income	45.93	48.52	5.6 %
Net Income	4.38	(4.46)	(201.8 %)
Average Shares	126.39	126.39	-
EPS (Riyals)	0.03	(0.04)	(201.8 %)

Item	Q2 2018	Q3 2018	Change‬
Revenues	424.80	483.73	13.9 %
Gross Income	122.74	151.85	23.7 %
Operating Income	18.38	48.52	164.0 %
Net Income	(2.02)	(4.46)	(120.8 %)
Average Shares	126.39	126.39	-
EPS (Riyals)	(0.02)	(0.04)	(120.8 %)

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
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
2009	1,712.85	(0.8 %)	476.54	13.9 %	79.78	118.4 %	0.63
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
2010	1,927.96	12.6 %	564.75	18.5 %	84.85	6.3 %	0.67
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
2011	2,004.21	4.0 %	570.30	1.0 %	97.93	15.4 %	0.77
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
2012	2,120.90	5.8 %	639.33	12.1 %	110.95	13.3 %	0.88
Q1 2013	576.88	10.5 %	186.60	23.8 %	33.39	11.3 %	0.26
Q2 2013	577.62	8.6 %	176.47	9.9 %	29.14	31.6 %	0.23
Q3 2013	561.28	4.6 %	157.30	0.1 %	28.87	15.0 %	0.23
Q4 2013	571.16	7.7 %	163.70	(3.4 %)	40.57	19.9 %	0.32
2013	2,286.93	7.8 %	684.07	7.0 %	131.97	18.9 %	1.04
Q1 2014	601.46	4.3 %	185.05	(0.8 %)	52.73	57.9 %	0.42
Q2 2014	624.98	8.2 %	187.07	6.0 %	64.37	120.9 %	0.51
Q3 2014	607.08	8.2 %	173.79	10.5 %	32.92	14.0 %	0.26
Q4 2014	604.72	5.9 %	193.67	18.3 %	36.24	(10.7 %)	0.29
2014	2,438.23	6.6 %	739.42	8.1 %	184.78	40.0 %	1.46
Q1 2015	593.14	(1.4 %)	183.85	(0.6 %)	60.46	14.7 %	0.48
Q2 2015	580.59	(7.1 %)	181.00	(3.2 %)	64.87	0.8 %	0.51
Q3 2015	553.97	(8.7 %)	178.11	2.5 %	22.47	(31.7 %)	0.18
Q4 2015	444.00	(26.6 %)	165.73	(14.4 %)	12.54	(65.4 %)	0.10
2015	2,339.48	(4.1 %)	738.15	(0.2 %)	160.33	(13.2 %)	1.27
Q1 2016	555.73	(6.3 %)	182.18	(0.9 %)	(50.65)	(183.8 %)	(0.40)
Q2 2016	502.82	(13.4 %)	161.28	(10.9 %)	15.60	(75.9 %)	0.12
Q3 2016	519.22	(6.3 %)	162.50	(8.8 %)	(48.10)	(314.1 %)	(0.38)
Q4 2016	506.19	14.0 %	162.02	(2.2 %)	(79.15)	(731.4 %)	(0.63)
2016	2,083.96	(10.9 %)	667.97	(9.5 %)	(180.66)	(212.7 %)	(1.43)
Q1 2017	456.77	(17.8 %)	154.71	(15.1 %)	20.69	140.9 %	0.16
Q2 2017	428.66	(14.7 %)	130.15	(19.3 %)	3.67	(76.5 %)	0.03
Q3 2017	503.24	(3.1 %)	161.51	(0.6 %)	4.38	109.1 %	0.03
Q4 2017	499.16	(1.4 %)	169.55	4.6 %	(352.75)	(345.7 %)	(2.79)
2017	1,887.83	(9.4 %)	615.92	(7.8 %)	(324.02)	(79.4 %)	(2.56)
Q1 2018	449.18	(1.7 %)	134.10	(13.3 %)	11.74	(43.2 %)	0.09
Q2 2018	424.80	(0.9 %)	122.74	(5.7 %)	(2.02)	(155.1 %)	(0.02)
Q3 2018	483.73	(3.9 %)	151.85	(6.0 %)	(4.46)	(201.8 %)	(0.04)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
2008	1,727.03	16.5 %	418.28	12.7 %	(433.99)	(219.6 %)	(3.43)
2009	1,712.85	(0.8 %)	476.54	13.9 %	79.78	118.4 %	0.63
2010	1,927.96	12.6 %	564.75	18.5 %	84.85	6.3 %	0.67
2011	2,004.21	4.0 %	570.30	1.0 %	97.93	15.4 %	0.77
2012	2,120.90	5.8 %	639.33	12.1 %	110.95	13.3 %	0.88
2013	2,286.93	7.8 %	684.07	7.0 %	131.97	18.9 %	1.04
2014	2,438.23	6.6 %	739.42	8.1 %	184.78	40.0 %	1.46
2015	2,339.48	(4.1 %)	738.15	(0.2 %)	160.33	(13.2 %)	1.27
2016	2,083.96	(10.9 %)	667.97	(9.5 %)	(180.66)	(212.7 %)	(1.43)
2017	1,887.83	(9.4 %)	615.92	(7.8 %)	(324.02)	(79.4 %)	(2.56)

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
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 %
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 %
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 %
2011	28.45 %	9.82 %	4.89 %
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 %
2012	30.14 %	11.55 %	5.23 %
Q1 2013	30.96 %	12.33 %	5.26 %
Q2 2013	31.04 %	12.37 %	5.47 %
Q3 2013	30.71 %	11.85 %	5.58 %
Q4 2013	29.91 %	11.74 %	5.77 %
2013	29.91 %	11.74 %	5.77 %
Q1 2014	29.53 %	11.22 %	6.55 %
Q2 2014	29.38 %	10.99 %	7.91 %
Q3 2014	29.51 %	11.11 %	7.93 %
Q4 2014	30.33 %	11.16 %	8.66 %
2014	30.33 %	11.12 %	8.60 %
Q1 2015	30.39 %	11.42 %	8.87 %
Q2 2015	30.70 %	11.52 %	8.82 %
Q3 2015	31.58 %	11.78 %	8.30 %
Q4 2015	32.63 %	12.07 %	7.72 %
2015	31.55 %	11.88 %	7.17 %
Q1 2016	33.13 %	12.07 %	4.56 %
Q2 2016	33.42 %	11.43 %	2.62 %
Q3 2016	33.22 %	10.53 %	0.81 %
Q4 2016	32.05 %	9.63 %	1.47 %
2016	32.05 %	9.63 %	1.47 %
Q1 2017	32.27 %	9.85 %	3.25 %
Q2 2017	31.89 %	9.55 %	2.75 %
Q3 2017	32.11 %	10.89 %	4.13 %
Q4 2017	32.63 %	11.86 %	(0.81 %)
2017	32.63 %	11.86 %	(0.81 %)
Q1 2018	31.66 %	11.71 %	(1.29 %)
Q2 2018	31.33 %	12.09 %	(1.59 %)
Q3 2018	31.14 %	12.30 %	(2.09 %)

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2008	24.22 %	8.52 %	(25.13 %)
2009	27.82 %	10.12 %	4.66 %
2010	29.29 %	11.52 %	4.40 %
2011	28.45 %	9.82 %	4.89 %
2012	30.14 %	11.55 %	5.23 %
2013	29.91 %	11.74 %	5.77 %
2014	30.33 %	11.12 %	8.60 %
2015	31.55 %	11.88 %	7.17 %
2016	32.05 %	9.63 %	1.47 %
2017	32.63 %	11.86 %	(0.81 %)

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2009	24.83 %	8.89 %	2.93 %
Q2 2009	29.37 %	12.10 %	4.83 %
Q3 2009	28.55 %	11.34 %	3.94 %
Q4 2009	28.62 %	8.37 %	6.79 %
Q1 2010	27.62 %	11.16 %	4.15 %
Q2 2010	30.55 %	12.74 %	5.20 %
Q3 2010	30.10 %	11.60 %	3.41 %
Q4 2010	28.99 %	10.60 %	4.74 %
Q1 2011	28.23 %	10.32 %	5.13 %
Q2 2011	28.66 %	10.67 %	5.84 %
Q3 2011	26.32 %	9.68 %	4.09 %
Q4 2011	30.54 %	8.64 %	4.61 %
Q1 2012	28.87 %	9.98 %	5.75 %
Q2 2012	30.19 %	12.35 %	4.16 %
Q3 2012	29.28 %	12.37 %	4.68 %
Q4 2012	31.95 %	11.98 %	6.38 %
Q1 2013	32.35 %	12.61 %	5.79 %
Q2 2013	30.55 %	12.50 %	5.04 %
Q3 2013	28.03 %	10.29 %	5.14 %
Q4 2013	28.66 %	11.51 %	7.10 %
Q1 2014	30.77 %	10.57 %	8.77 %
Q2 2014	29.93 %	11.54 %	10.30 %
Q3 2014	28.63 %	10.84 %	5.42 %
Q4 2014	32.03 %	11.69 %	10.13 %
Q1 2015	31.00 %	11.63 %	9.61 %
Q2 2015	31.17 %	11.93 %	10.19 %
Q3 2015	32.15 %	11.89 %	2.93 %
Q4 2015	37.33 %	13.09 %	7.93 %
Q1 2016	32.78 %	11.59 %	(2.37 %)
Q2 2016	32.07 %	9.28 %	3.10 %
Q3 2016	31.30 %	8.43 %	(4.09 %)
Q4 2016	32.01 %	9.08 %	9.76 %
Q1 2017	33.87 %	12.97 %	4.53 %
Q2 2017	30.36 %	7.82 %	0.85 %
Q3 2017	32.09 %	13.44 %	0.87 %
Q4 2017	33.97 %	12.72 %	(8.81 %)
Q1 2018	29.86 %	12.35 %	2.61 %
Q2 2018	28.89 %	9.47 %	(0.48 %)
Q3 2018	31.39 %	14.29 %	(0.92 %)

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
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
Q2 2013	126.39	0.96	0.96	18.92
Q3 2013	126.39	0.99	0.99	19.61
Q4 2013	126.39	1.04	1.04	20.37
Q1 2014	126.39	1.20	1.20	22.05
Q2 2014	126.39	1.48	1.48	21.10
Q3 2014	126.39	1.51	1.51	22.42
Q4 2014	126.39	1.47	1.67	20.64
Q1 2015	126.39	1.53	1.71	21.25
Q2 2015	126.39	1.54	1.66	21.29
Q3 2015	126.39	1.46	1.53	19.86
Q4 2015	126.39	1.27	1.33	19.95
Q1 2016	126.39	0.39	0.77	19.98
Q2 2016	126.39	0.00	0.43	19.20
Q3 2016	126.39	(0.56)	0.13	18.07
Q4 2016	126.39	(1.28)	0.24	18.53
Q1 2017	126.39	(0.72)	0.51	18.60
Q2 2017	126.39	(0.81)	0.42	17.28
Q3 2017	126.39	(0.40)	0.62	16.96
Q4 2017	126.39	(2.56)	(0.12)	14.15
Q1 2018	126.39	(2.63)	(0.19)	14.02
Q2 2018	126.39	(2.68)	(0.24)	13.52
Q3 2018	126.39	(2.75)	(0.31)	12.82

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2008	126.39	(3.43)	(3.43)	18.30
2009	126.39	0.63	0.63	19.11
2010	126.39	0.67	0.67	18.12
2011	126.39	0.77	0.77	17.93
2012	126.39	0.88	0.88	19.08
2013	126.39	1.04	1.04	20.37
2014	126.39	1.46	1.66	20.64
2015	126.39	1.27	1.33	19.95
2016	126.39	(1.43)	0.24	18.53
2017	126.39	(2.56)	(0.12)	14.15

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
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
Q2 2013	18.47	18.47	0.94
Q3 2013	19.27	19.27	0.97
Q4 2013	22.27	22.27	1.14
Q1 2014	21.30	21.30	1.16
Q2 2014	20.60	20.60	1.44
Q3 2014	23.36	23.36	1.57
Q4 2014	16.05	14.15	1.15
Q1 2015	17.61	15.85	1.27
Q2 2015	18.39	17.00	1.33
Q3 2015	14.83	14.10	1.09
Q4 2015	18.49	17.68	1.18
Q1 2016	54.48	27.53	1.06
Q2 2016	NEG	43.35	0.96
Q3 2016	NEG	More than 100	0.72
Q4 2016	NEG	74.17	0.97
Q1 2017	NEG	34.31	0.94
Q2 2017	NEG	39.31	0.95
Q3 2017	NEG	24.71	0.90
Q4 2017	NEG	NEG	0.91
Q1 2018	NEG	NEG	0.79
Q2 2018	NEG	NEG	0.88
Q3 2018	NEG	NEG	0.78

Period	P/E	Adjusted P/E	Price/book
2008	NEG	NEG	0.54
2009	24.08	24.08	0.80
2010	20.18	20.18	0.75
2011	20.13	20.13	0.87
2012	18.85	18.85	0.87
2013	22.27	22.27	1.14
2014	16.18	14.25	1.15
2015	18.49	17.68	1.18
2016	NEG	74.17	0.97
2017	NEG	NEG	0.91

Business Segments (Million)

Compared With The

Period	The industrial sector	Investments
Q1 2016	555.73	(34.49)
Q2 2016	502.82	(7.49)
Q3 2016	519.22	(37.59)
Q4 2016	506.19	(72.55)
Q1 2017	456.77	13.95
Q2 2017	428.66	9.30
Q3 2017	503.24	(8.06)
Q4 2017	499.16	(362.41)
Q1 2018	449.18	5.04
Q2 2018	424.80	(0.82)
Q3 2018	474.07	(20.42)

Period	The industrial sector	Investments
2015	2,339.48	78.77
2016	2,083.96	(152.12)
2017	1,887.83	(347.21)

Financial Ratios

	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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Aseer Trading’s net profit falls 81% in 9M 2018

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Share Price

Sinad Holding Co. (SINAD HOLDING)

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) 2018 Q3

Financial Ratios

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Aseer Trading’s net profit falls 81% in 9M 2018

View other reports

Share Price

Sinad Holding Co. (SINAD HOLDING)

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 2018

Revenue by Business Segment (Latest) 2018 Q3

Financial Ratios

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Business Segments (Million)