Financial Results : Astra’s net profit falls 32% in 9M 2019

Astra’s net profit falls 32% in 9M 2019

29/10/2019 Argaam Exclusive

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Astra Industrial Group’s net profit fell 32 percent to SAR 10.1 million in the first nine months of 2019, compared to SAR 14.7 million a year earlier.



Financials (M)

Item 9m 2018 9m 2019 Change‬
Revenues 1,318.57 1,410.75 7.0 %
Gross Income 525.70 559.41 6.4 %
Operating Income 79.92 148.09 85.3 %
Net Income 14.74 10.06 (31.8 %)
Average Shares 80.00 80.00 -
EPS (Riyals) 0.18 0.13 (31.8 %)

The company attributed the profit decline to higher financial charges, decline in other income, and higher zakat expenses, despite reporting higher sales and gross profit in pharmaceuticals and specialty chemicals sectors.

 

The company’s net loss for the third quarter 2019 narrowed by 46 percent to SAR 14.6 million from SAR 26.9 million due to lower sales and marketing expenses in pharmaceuticals sector, lower gross loss in power and steel sector, and higher gross profit in specialty chemicals. 

 

Astra had reported a profit of SAR 16 million in the previous quarter.



Current Quarter Comparison (M)

Compared With The
Item Q3 2018 Q3 2019 Change‬
Revenues 405.35 447.16 10.3 %
Gross Income 149.35 161.80 8.3 %
Operating Income 4.00 29.27 631.5 %
Net Income (26.87) (14.63) 45.6 %
Average Shares 80.00 80.00 -
EPS (Riyals) (0.34) (0.18) 45.6 %


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2010 276.32 19.5 % 126.93 16.7 % 44.23 (3.1 %)
Q2 2010 276.03 7.6 % 126.08 16.7 % 46.27 13.7 %
Q3 2010 260.98 14.3 % 121.38 15.5 % 38.88 (14.8 %)
Q4 2010 307.13 20.3 % 110.67 (7.9 %) 45.93 22.8 %
Q1 2011 356.77 29.1 % 141.28 11.3 % 50.97 15.2 %
Q2 2011 373.14 35.2 % 146.07 15.9 % 50.29 8.7 %
Q3 2011 334.40 28.1 % 139.61 15.0 % 42.04 8.1 %
Q4 2011 340.93 11.0 % 138.10 24.8 % 49.08 6.9 %
Q1 2012 391.50 9.7 % 155.53 10.1 % 53.40 4.8 %
Q2 2012 376.88 1.0 % 155.50 6.5 % 50.92 1.3 %
Q3 2012 317.94 (4.9 %) 152.83 9.5 % 35.58 (15.4 %)
Q4 2012 410.00 20.3 % 154.06 11.6 % 45.31 (7.7 %)
Q1 2013 454.19 16.0 % 174.40 12.1 % 54.02 1.2 %
Q2 2013 447.54 18.7 % 178.71 14.9 % 50.08 (1.7 %)
Q3 2013 360.22 13.3 % 157.84 3.3 % 36.56 2.8 %
Q4 2013 509.48 24.3 % 169.90 10.3 % 36.38 (19.7 %)
Q1 2014 498.90 9.8 % 184.96 6.1 % 48.34 (10.5 %)
Q2 2014 453.23 1.3 % 136.47 (23.6 %) (5.14) (110.3 %)
Q3 2014 439.81 22.1 % 125.94 (20.2 %) 5.15 (85.9 %)
Q4 2014 491.79 (3.5 %) 158.77 (6.5 %) 20.56 (43.5 %)
Q1 2015 489.36 (1.9 %) 181.61 (1.8 %) 42.43 (12.2 %)
Q2 2015 461.99 1.9 % 162.98 19.4 % 5.50 206.9 %
Q3 2015 381.83 (13.2 %) 130.00 3.2 % 1.92 (62.8 %)
Q4 2015 422.92 (14.0 %) 107.80 (32.1 %) (49.86) (342.5 %)
Q1 2016 503.31 2.9 % 224.54 23.6 % 58.48 37.8 %
Q2 2016 444.56 (3.8 %) 190.17 16.7 % 31.13 466.5 %
Q3 2016 389.16 1.9 % 180.23 38.6 % 39.60 1965.6 %
Q4 2016 404.48 (4.4 %) 185.42 72.0 % 20.77 141.7 %
Q1 2017 512.43 1.8 % 220.92 (1.6 %) 52.98 (9.4 %)
Q2 2017 428.52 (3.6 %) 198.92 4.6 % 23.25 (25.3 %)
Q3 2017 398.37 2.4 % 171.28 (5.0 %) 22.22 (43.9 %)
Q4 2017 456.35 12.8 % 165.46 (10.8 %) 27.75 33.6 %
Q1 2018 476.82 (6.9 %) 191.50 (13.3 %) 44.36 (16.3 %)
Q2 2018 436.40 1.8 % 184.86 (7.1 %) 31.56 35.7 %
Q3 2018 405.35 1.8 % 149.35 (12.8 %) 4.00 (82.0 %)
Q4 2018 478.34 4.8 % 186.25 12.6 % 55.81 101.1 %
Q1 2019 470.18 (1.4 %) 187.63 (2.0 %) 53.82 21.3 %
Q2 2019 493.41 13.1 % 209.98 13.6 % 64.99 105.9 %
Q3 2019 447.16 10.3 % 161.80 8.3 % 29.27 631.5 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2010 57.88 17.6 % 0.72 2.68 55.20 0.69
Q2 2010 61.46 21.1 % 0.77 3.48 57.98 0.72
Q3 2010 80.65 48.7 % 1.01 22.68 57.97 0.72
Q4 2010 59.00 18.4 % 0.74 - 59.00 0.74
Q1 2011 62.04 7.2 % 0.78 - 62.04 0.78
Q2 2011 67.28 9.5 % 0.84 - 67.28 0.84
Q3 2011 58.49 (27.5 %) 0.73 - 58.49 0.73
Q4 2011 63.77 8.1 % 0.80 - 63.77 0.80
Q1 2012 64.08 3.3 % 0.80 - 64.08 0.80
Q2 2012 68.50 1.8 % 0.86 - 68.50 0.86
Q3 2012 46.66 (20.2 %) 0.58 - 46.66 0.58
Q4 2012 63.43 (0.5 %) 0.79 - 63.43 0.79
Q1 2013 68.32 6.6 % 0.85 - 68.32 0.85
Q2 2013 61.72 (9.9 %) 0.77 - 61.72 0.77
Q3 2013 50.69 8.7 % 0.63 - 50.69 0.63
Q4 2013 72.41 14.1 % 0.91 - 72.41 0.91
Q1 2014 63.06 (7.7 %) 0.79 - 63.06 0.79
Q2 2014 3.07 (95.0 %) 0.04 - 3.07 0.04
Q3 2014 17.91 (64.7 %) 0.22 - 17.91 0.22
Q4 2014 25.72 (64.5 %) 0.32 - 25.72 0.32
Q1 2015 42.11 (33.2 %) 0.53 - 42.11 0.53
Q2 2015 20.10 554.8 % 0.25 - 20.10 0.25
Q3 2015 9.46 (47.2 %) 0.12 - 9.46 0.12
Q4 2015 (65.19) (353.4 %) (0.81) - (65.19) (0.81)
Q1 2016 12.80 (69.6 %) 0.16 - 12.80 0.16
Q2 2016 (10.60) (152.8 %) (0.13) - (10.60) (0.13)
Q3 2016 (25.34) (367.9 %) (0.32) - (25.34) (0.32)
Q4 2016 (70.80) (8.6 %) (0.88) - (70.80) (0.88)
Q1 2017 19.74 54.3 % 0.25 11.62 8.12 0.10
Q2 2017 7.00 166.0 % 0.09 10.13 (3.13) (0.04)
Q3 2017 2.58 110.2 % 0.03 12.35 (9.77) (0.12)
Q4 2017 28.88 140.8 % 0.36 - 28.88 0.36
Q1 2018 25.53 29.3 % 0.32 - 25.53 0.32
Q2 2018 16.08 129.8 % 0.20 - 16.08 0.20
Q3 2018 (26.87) (1141.9 %) (0.34) - (26.87) (0.34)
Q4 2018 7.73 (73.2 %) 0.10 - 7.73 0.10
Q1 2019 8.91 (65.1 %) 0.11 - 8.91 0.11
Q2 2019 15.78 (1.9 %) 0.20 - 15.78 0.20
Q3 2019 (14.63) 45.6 % (0.18) - (14.63) (0.18)

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2010 45.27 % 19.14 % 19.81 %
Q2 2010 46.16 % 19.11 % 20.40 %
Q3 2010 46.28 % 17.92 % 20.40 %
Q4 2010 43.29 % 18.41 % 20.54 %
Q1 2011 41.59 % 17.71 % 19.73 %
Q2 2011 40.01 % 16.85 % 18.97 %
Q3 2011 39.20 % 16.26 % 18.00 %
Q4 2011 40.21 % 15.71 % 17.90 %
Q1 2012 40.23 % 15.71 % 17.61 %
Q2 2012 40.78 % 15.91 % 17.65 %
Q3 2012 42.18 % 15.95 % 17.03 %
Q4 2012 41.30 % 15.09 % 16.22 %
Q1 2013 40.85 % 14.76 % 15.84 %
Q2 2013 40.50 % 13.92 % 14.74 %
Q3 2013 39.77 % 13.56 % 14.60 %
Q4 2013 38.44 % 13.31 % 14.29 %
Q1 2014 38.07 % 13.64 % 13.65 %
Q2 2014 35.63 % 11.75 % 10.39 %
Q3 2014 32.46 % 10.54 % 8.23 %
Q4 2014 32.18 % 9.87 % 5.83 %
Q1 2015 32.16 % 9.69 % 4.74 %
Q2 2015 33.42 % 10.59 % 5.62 %
Q3 2015 34.71 % 10.53 % 5.34 %
Q4 2015 33.16 % 7.75 % 0.37 %
Q1 2016 35.33 % 7.68 % (1.29 %)
Q2 2016 37.23 % 7.90 % (3.05 %)
Q3 2016 39.93 % 9.51 % (5.02 %)
Q4 2016 44.81 % 12.07 % (5.39 %)
Q1 2017 44.37 % 11.60 % (5.63 %)
Q2 2017 45.28 % 11.49 % (5.26 %)
Q3 2017 44.53 % 10.40 % (4.33 %)
Q4 2017 42.13 % 10.71 % 1.34 %
Q1 2018 41.31 % 10.61 % 2.36 %
Q2 2018 40.33 % 11.14 % 3.43 %
Q3 2018 38.94 % 10.18 % 2.46 %
Q4 2018 39.62 % 11.54 % 1.25 %
Q1 2019 39.55 % 12.17 % 0.33 %
Q2 2019 39.69 % 13.73 % 0.30 %
Q3 2019 39.47 % 14.92 % 0.94 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2010 80.00 2.66 2.52 19.08
Q2 2010 80.00 2.79 2.64 19.84
Q3 2010 80.00 3.12 2.72 20.62
Q4 2010 80.00 3.24 2.88 21.05
Q1 2011 80.00 3.29 2.96 21.73
Q2 2011 80.00 3.36 3.08 21.19
Q3 2011 80.00 3.09 3.09 21.89
Q4 2011 80.00 3.14 3.14 22.39
Q1 2012 80.00 3.17 3.17 23.18
Q2 2012 80.00 3.19 3.19 22.27
Q3 2012 80.00 3.04 3.04 22.63
Q4 2012 80.00 3.03 3.03 23.03
Q1 2013 80.00 3.09 3.09 23.94
Q2 2013 80.00 3.00 3.00 22.92
Q3 2013 80.00 3.05 3.05 23.18
Q4 2013 80.00 3.16 3.16 23.68
Q1 2014 80.00 3.10 3.10 24.43
Q2 2014 80.00 2.37 2.37 22.82
Q3 2014 80.00 1.96 1.96 22.99
Q4 2014 80.00 1.37 1.37 23.08
Q1 2015 80.00 1.11 1.11 23.53
Q2 2015 80.00 1.32 1.32 22.71
Q3 2015 80.00 1.22 1.22 22.19
Q4 2015 80.00 0.08 0.08 21.46
Q1 2016 80.00 (0.29) (0.29) 21.65
Q2 2016 80.00 (0.67) (0.67) 21.78
Q3 2016 80.00 (1.10) (1.10) 21.78
Q4 2016 80.00 (1.17) (1.17) 15.43
Q1 2017 80.00 (1.09) (1.23) 15.62
Q2 2017 80.00 (0.87) (1.14) 15.28
Q3 2017 80.00 (0.52) (0.94) 15.21
Q4 2017 80.00 0.73 0.30 15.40
Q1 2018 80.00 0.80 0.52 14.11
Q2 2018 80.00 0.91 0.76 13.80
Q3 2018 80.00 0.55 0.55 13.40
Q4 2018 80.00 0.28 0.28 13.23
Q1 2019 80.00 0.07 0.07 13.38
Q2 2019 80.00 0.07 0.07 13.63
Q3 2019 80.00 0.22 0.22 13.40

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2010 14.10 14.89 1.97
Q2 2010 12.24 12.93 1.72
Q3 2010 11.80 13.53 1.79
Q4 2010 11.15 12.55 1.72
Q1 2011 9.49 10.53 1.44
Q2 2011 9.53 10.41 1.51
Q3 2011 10.47 10.47 1.48
Q4 2011 10.36 10.36 1.46
Q1 2012 12.71 12.71 1.74
Q2 2012 11.74 11.74 1.68
Q3 2012 12.04 12.04 1.62
Q4 2012 11.90 11.90 1.57
Q1 2013 12.18 12.18 1.57
Q2 2013 13.79 13.79 1.81
Q3 2013 13.83 13.83 1.82
Q4 2013 15.51 15.51 2.07
Q1 2014 18.15 18.15 2.30
Q2 2014 21.57 21.57 2.24
Q3 2014 24.30 24.30 2.07
Q4 2014 21.27 21.27 1.26
Q1 2015 26.98 26.98 1.27
Q2 2015 24.44 24.44 1.42
Q3 2015 19.14 19.14 1.05
Q4 2015 More than 100 More than 100 0.92
Q1 2016 NEG NEG 0.69
Q2 2016 NEG NEG 0.75
Q3 2016 NEG NEG 0.62
Q4 2016 NEG NEG 1.11
Q1 2017 NEG NEG 1.06
Q2 2017 NEG NEG 1.01
Q3 2017 NEG NEG 1.10
Q4 2017 21.95 53.03 1.04
Q1 2018 20.87 32.17 1.18
Q2 2018 21.02 25.30 1.39
Q3 2018 31.58 31.58 1.29
Q4 2018 58.37 58.37 1.24
Q1 2019 More than 100 More than 100 1.20
Q2 2019 More than 100 More than 100 1.12
Q3 2019 69.34 69.34 1.15

Business Segments (Million)

Compared With The
Period Pharmaceuticals Specialty chemicals Energy and steel industries Other
Q1 2010 121.91 96.96 57.45 -
Q2 2010 119.52 108.62 47.89 -
Q3 2010 104.06 110.86 46.06 -
Q4 2010 105.44 130.51 71.18 -
Q1 2011 135.38 138.56 82.82 -
Q2 2011 146.24 135.09 91.81 -
Q3 2011 139.68 119.96 74.06 -
Q4 2011 123.64 126.61 68.12 -
Q1 2012 172.74 135.63 83.14 -
Q2 2012 151.94 138.05 86.89 -
Q3 2012 160.61 122.47 34.86 -
Q4 2012 170.66 150.68 88.66 -
Q1 2013 214.39 165.59 74.22 -
Q2 2013 205.41 157.70 84.42 -
Q3 2013 189.95 114.84 55.43 -
Q4 2013 258.27 115.01 136.20 -
Q1 2014 243.34 161.19 94.37 -
Q2 2014 207.26 144.23 101.73 -
Q3 2014 207.18 127.15 105.48 -
Q4 2014 268.21 154.23 104.43 -
Q1 2015 204.31 178.44 106.61 -
Q2 2015 248.39 143.08 70.51 -
Q3 2015 186.53 134.45 60.85 -
Q4 2015 196.59 136.58 93.75 -
Q1 2016 254.25 182.79 66.27 -
Q2 2016 214.90 166.52 63.14 -
Q3 2016 204.22 119.43 65.51 -
Q4 2016 220.50 131.57 52.41 -
Q1 2017 224.63 202.84 84.97 -
Q2 2017 198.23 142.49 86.79 1.00
Q3 2017 184.52 136.02 74.55 3.28
Q4 2017 214.07 168.68 68.61 4.99
Q1 2018 225.54 183.10 62.31 5.87
Q2 2018 210.02 167.66 52.84 5.87
Q3 2018 191.43 164.03 43.31 6.58
Q4 2018 243.10 189.82 38.81 6.60
Q1 2019 238.47 173.84 49.47 8.41
Q2 2019 249.12 191.70 44.32 8.27
Q3 2019 217.10 161.65 61.32 7.09


Financial Ratios
Current
Market Cap (M Riyal) 14,528.00
Enterprise Value (EV) (M) 14,344.67
Shares Outstanding ((M)) 80.00
EPS ( Riyal) (TTM) 7.40
Book Value (BV) ( Riyal) 29.86
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 26.74
P/E (TTM) 24.53
Price/book 6.08
Return on Average Assets (%) (TTM) 13.1
Return on Average Equity (%) (TTM) 27.0
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Share Price

Astra Industrial Group
181.60
(4.40) (2.37 %)

Astra Industrial Group (ASTRA INDUSTRIAL)

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