Electrical Industries’ FY17 net profit jumps 16%

21/03/2018 Argaam Exclusive

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Electrical Industries Co. (EIC) reported a net profit of SAR 57.3 million for the fiscal year 2017, an increase of 16 percent year-on-year (YoY), thanks to a decline in the cost of goods sold, lower financial charges and leverage, along with a rise in other income.

 

The annual profit also included EIC’s SAR 5.5 million profit share from the Saudi transformer plant, compared to a net loss of SAR 8.4 million in 2016.



Financials (M)

Item 2016 2017 Change‬
Revenues 884.76 869.82 (1.7 %)
Gross Income 142.27 161.18 13.3 %
Operating Income 63.34 67.24 6.2 %
Net Income 49.38 57.32 16.1 %
Average Shares 1,125.00 1,125.00 -
EPS (Halala) 4.39 5.10 16.1 %

Net profit for the fourth quarter jumped 24 percent YoY to SAR 24.3 million.



Current Quarter Comparison (M)

Compared With The
Item Q4 2016 Q4 2017 Change‬
Revenues 223.75 223.03 (0.3 %)
Gross Income 40.73 42.33 3.9 %
Operating Income 24.20 23.83 (1.6 %)
Net Income 19.67 24.32 23.6 %
Average Shares 1,125.00 1,125.00 -
EPS (Halala) 1.75 2.16 23.6 %


Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Halala)
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 - - - - - - -
Q4 2011 - - - - - - -
Q1 2012 - - - - - - -
Q2 2012 - - - - - - -
Q3 2012 - - - - - - -
Q4 2012 - - - - - - -
Q1 2013 305.08 - 75.09 - 50.37 - 4.48
Q2 2013 338.91 - 53.30 - 27.13 - 2.41
Q3 2013 269.85 - 44.06 - 22.35 - 1.99
Q4 2013 371.41 - 93.81 - 66.11 - 5.88
Q1 2014 346.75 13.7 % 79.63 6.0 % 55.49 10.2 % 4.93
Q2 2014 305.29 (9.9 %) 72.48 36.0 % 44.67 64.7 % 3.97
Q3 2014 164.51 (39.0 %) 32.38 (26.5 %) 12.71 (43.1 %) 1.13
Q4 2014 230.30 (38.0 %) 67.16 (28.4 %) 58.99 (10.8 %) 5.24
Q1 2015 200.41 (42.2 %) 39.30 (50.6 %) 28.79 (48.1 %) 2.56
Q2 2015 196.60 (35.6 %) 38.45 (47.0 %) 19.96 (55.3 %) 1.77
Q3 2015 191.27 16.3 % 32.86 1.5 % 9.47 (25.5 %) 0.84
Q4 2015 240.95 4.6 % 33.81 (49.7 %) 12.14 (79.4 %) 1.08
Q1 2016 220.84 10.2 % 35.73 (9.1 %) 9.44 (67.2 %) 0.84
Q2 2016 233.85 18.9 % 28.90 (24.8 %) 9.78 (51.0 %) 0.87
Q3 2016 206.32 7.9 % 36.91 12.4 % 10.49 10.8 % 0.93
Q4 2016 223.75 (7.1 %) 40.73 20.5 % 19.67 62.0 % 1.75
Q1 2017 189.11 (14.4 %) 38.17 6.8 % 10.65 12.7 % 0.95
Q2 2017 230.29 (1.5 %) 41.52 43.7 % 10.92 11.7 % 0.97
Q3 2017 227.39 10.2 % 39.15 6.1 % 11.44 9.1 % 1.02
Q4 2017 223.03 (0.3 %) 42.33 3.9 % 24.32 23.6 % 2.16
2017 869.82 (1.7 %) 161.18 13.3 % 57.32 16.1 % 5.10

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
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 - - -
Q4 2011 - - -
Q1 2012 - - -
Q2 2012 - - -
Q3 2012 - - -
Q4 2012 - - -
Q1 2013 - - -
Q2 2013 - - -
Q3 2013 - - -
Q4 2013 20.72 % 15.68 % 12.91 %
Q1 2014 20.41 % 15.37 % 12.84 %
Q2 2014 22.42 % 17.41 % 14.35 %
Q3 2014 23.43 % 17.69 % 15.59 %
Q4 2014 24.04 % 18.85 % 15.78 %
Q1 2015 23.47 % 18.36 % 14.73 %
Q2 2015 22.39 % 17.56 % 13.55 %
Q3 2015 21.72 % 16.86 % 11.61 %
Q4 2015 17.41 % 12.27 % 7.19 %
Q1 2016 16.58 % 11.26 % 5.51 %
Q2 2016 14.80 % 9.00 % 4.47 %
Q3 2016 15.01 % 8.63 % 4.47 %
Q4 2016 16.08 % 10.44 % 5.58 %
Q1 2017 16.96 % 10.50 % 5.93 %
Q2 2017 18.52 % 11.82 % 6.09 %
Q3 2017 18.33 % 11.78 % 6.05 %
Q4 2017 18.53 % 11.40 % 6.59 %
2017 18.53 % 11.40 % 6.59 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Halala) Adjusted EPS (Halala) Book Value (BV)
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 - - - -
Q4 2011 - - - -
Q1 2012 - - - -
Q2 2012 - - - -
Q3 2012 - - - -
Q4 2012 - - - -
Q1 2013 1,125.00 - - 0.48
Q2 2013 1,125.00 - - 0.46
Q3 2013 1,125.00 - - 0.48
Q4 2013 1,125.00 14.75 14.75 0.48
Q1 2014 1,125.00 15.21 15.14 0.53
Q2 2014 1,125.00 16.77 16.50 0.49
Q3 2014 1,125.00 15.91 16.47 0.50
Q4 2014 1,125.00 15.28 14.69 0.56
Q1 2015 1,125.00 12.90 11.79 0.58
Q2 2015 1,125.00 10.71 9.54 0.54
Q3 2015 1,125.00 10.42 8.45 0.55
Q4 2015 1,125.00 6.25 5.30 0.54
Q1 2016 1,125.00 4.53 4.16 0.54
Q2 2016 1,125.00 3.63 3.52 0.55
Q3 2016 1,125.00 3.72 3.59 0.56
Q4 2016 1,125.00 4.39 4.39 0.57
Q1 2017 1,125.00 4.50 4.50 0.58
Q2 2017 1,125.00 4.60 4.60 0.56
Q3 2017 1,125.00 4.68 4.68 0.57
Q4 2017 1,125.00 5.10 5.10 0.56

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
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 - - -
Q4 2011 - - -
Q1 2012 - - -
Q2 2012 - - -
Q3 2012 - - -
Q4 2012 - - -
Q1 2013 - - -
Q2 2013 - - -
Q3 2013 - - -
Q4 2013 - - -
Q1 2014 - - -
Q2 2014 - - -
Q3 2014 - - -
Q4 2014 14.57 15.16 4.00
Q1 2015 17.70 19.36 3.92
Q2 2015 20.77 23.32 4.12
Q3 2015 15.94 19.65 3.03
Q4 2015 21.69 25.60 2.52
Q1 2016 21.72 23.67 1.83
Q2 2016 28.18 29.05 1.87
Q3 2016 19.31 20.02 1.29
Q4 2016 22.05 22.05 1.69
Q1 2017 22.18 22.18 1.71
Q2 2017 17.28 17.28 1.43
Q3 2017 17.66 17.66 1.46
Q4 2017 16.62 16.62 1.50

Business Segments (Million)

Compared With The
Period Manufacturing sector services segment
Q1 2013 293.58 11.50
Q4 2013 353.76 17.65
Q1 2014 330.07 16.68
Q2 2014 290.20 15.09
Q3 2014 149.70 14.82
Q4 2014 208.78 21.52
Q1 2015 179.38 21.03
Q2 2015 182.40 14.20
Q3 2015 181.75 9.53
Q4 2015 221.18 19.77
Q1 2016 206.90 13.93
Q2 2016 219.92 13.94
Q3 2016 193.20 13.12
Q4 2016 211.01 12.74
Q1 2017 176.34 12.77
Q2 2017 216.57 13.72
Q3 2017 213.68 13.71
Q4 2017 206.09 16.94

Current
Market Cap (M Riyal) 7,301.25
Enterprise Value (EV) (M) 7,493.21
Shares Outstanding ((M)) 1,125.00
EPS (Halala) (TTM) 21.43
Book Value (BV) ( Riyal) 0.65
Par Value ( Halala) 50.00
Adjusted P/E (Last12) 29.06
P/E (TTM) 30.28
Price/book 9.94
Return on Average Assets (%) (TTM) 13.0
Return on Average Equity (%) (TTM) 34.4

Share Price

Electrical Industries Co. (EIC)


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