SVCP’s Q1 profit rises 43% to SAR 31 mln

20/04/2016 Argaam Exclusive

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Saudi Vitrified Clay Pipes Co. (SVCP) reported a net profit of SAR 31.2 million for the first quarter of 2016, a 43 percent year-on-year (YoY) increase attributed to higher sales.

 

Profit for Q1 was 16 percent higher compared to the previous quarter, which stood at SAR 27 million. In Q4-2015, the company realized foreign exchange losses. 



Current Quarter Comparison (M)

Compared With The
Item Q1 2015 Q1 2016 Change‬
Revenues 92.76 104.08 12.2 %
Gross Income 36.87 44.08 19.5 %
Operating Income 30.10 33.22 10.4 %
Net Income 21.96 33.63 53.1 %
Average Shares 15.00 15.00 -
EPS (Riyals) 1.46 2.24 53.1 %


Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Riyal)
Q1 2007 59.59 - 17.36 - 11.54 - 0.77
Q2 2007 54.09 - 18.48 - 14.63 - 0.98
Q3 2007 51.15 5.0 % 18.15 6.5 % 13.11 12.4 % 0.87
Q4 2007 49.96 (2.9 %) 7.72 (47.1 %) 3.91 (62.4 %) 0.26
Q1 2008 61.78 3.7 % 19.63 13.1 % 11.85 2.7 % 0.79
Q2 2008 71.86 32.9 % 18.50 0.1 % 11.82 (19.2 %) 0.79
Q3 2008 63.70 24.6 % 16.39 (9.7 %) 11.07 (15.6 %) 0.74
Q4 2008 60.52 21.1 % 16.80 117.5 % 13.48 244.5 % 0.90
Q1 2009 57.86 (6.3 %) 14.40 (26.6 %) 9.21 (22.2 %) 0.61
Q2 2009 54.85 (23.7 %) 12.64 (31.7 %) 4.36 (63.2 %) 0.29
Q3 2009 54.16 (15.0 %) 18.11 10.5 % 10.15 (8.3 %) 0.68
Q4 2009 58.25 (3.8 %) 20.61 22.7 % 18.89 40.2 % 1.26
Q1 2010 60.41 4.4 % 24.20 68.0 % 19.30 109.5 % 1.29
Q2 2010 64.28 17.2 % 24.20 91.5 % 21.66 397.3 % 1.44
Q3 2010 57.39 6.0 % 23.32 28.7 % 19.05 87.7 % 1.27
Q4 2010 62.54 7.4 % 23.84 15.7 % 16.42 (13.1 %) 1.09
Q1 2011 63.22 4.7 % 25.95 7.3 % 19.11 (1.0 %) 1.27
Q2 2011 68.17 6.0 % 30.75 27.0 % 24.13 11.4 % 1.61
Q3 2011 62.37 8.7 % 26.44 13.4 % 19.44 2.1 % 1.30
Q4 2011 67.69 8.2 % 25.82 8.3 % 20.09 22.4 % 1.34
Q1 2012 72.31 14.4 % 26.60 2.5 % 19.07 (0.2 %) 1.27
Q2 2012 82.51 21.0 % 28.99 (5.7 %) 21.84 (9.5 %) 1.46
Q3 2012 73.69 18.1 % 29.51 11.6 % 22.79 17.2 % 1.52
Q4 2012 83.08 22.7 % 31.45 21.8 % 23.74 18.2 % 1.58
Q1 2013 78.65 8.8 % 29.40 10.5 % 22.09 15.8 % 1.47
Q2 2013 77.44 (6.1 %) 26.40 (8.9 %) 20.27 (7.2 %) 1.35
Q3 2013 67.12 (8.9 %) 24.33 (17.6 %) 17.54 (23.0 %) 1.17
Q4 2013 80.20 (3.5 %) 29.94 (4.8 %) 24.52 3.3 % 1.63
Q1 2014 75.65 (3.8 %) 30.35 3.2 % 22.69 2.7 % 1.51
Q2 2014 87.35 12.8 % 34.47 30.6 % 27.87 37.5 % 1.86
Q3 2014 88.15 31.3 % 33.22 36.6 % 26.00 48.2 % 1.73
Q4 2014 91.59 14.2 % 36.81 22.9 % 24.02 (2.0 %) 1.60
Q1 2015 92.76 22.6 % 36.87 21.5 % 21.96 (3.2 %) 1.46
Q2 2015 95.45 9.3 % 43.78 27.0 % 32.80 17.7 % 2.19
Q3 2015 90.56 2.7 % 42.29 27.3 % 21.71 (16.5 %) 1.45
Q4 2015 111.54 21.8 % 42.14 14.5 % 26.76 11.4 % 1.78
Q1 2016 104.08 12.2 % 44.08 19.5 % 33.63 53.1 % 2.24

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2007 - - -
Q2 2007 31.56 % 24.49 % 22.55 %
Q3 2007 31.71 % 24.86 % 22.96 %
Q4 2007 28.73 % 21.80 % 20.11 %
Q1 2008 29.49 % 22.25 % 20.05 %
Q2 2008 27.27 % 20.33 % 17.33 %
Q3 2008 25.17 % 18.30 % 15.63 %
Q4 2008 27.66 % 20.52 % 18.70 %
Q1 2009 26.03 % 20.38 % 17.95 %
Q2 2009 25.42 % 21.45 % 16.09 %
Q3 2009 27.25 % 24.05 % 16.36 %
Q4 2009 29.21 % 30.07 % 18.93 %
Q1 2010 33.19 % 34.55 % 23.14 %
Q2 2010 36.74 % 38.07 % 29.52 %
Q3 2010 38.42 % 41.11 % 32.83 %
Q4 2010 39.07 % 39.12 % 31.24 %
Q1 2011 39.33 % 39.16 % 30.81 %
Q2 2011 41.33 % 40.48 % 31.32 %
Q3 2011 41.74 % 39.93 % 30.86 %
Q4 2011 41.67 % 40.02 % 31.66 %
Q1 2012 40.51 % 38.80 % 30.58 %
Q2 2012 37.85 % 36.02 % 28.24 %
Q3 2012 37.45 % 35.66 % 28.29 %
Q4 2012 37.41 % 35.42 % 28.06 %
Q1 2013 37.54 % 35.58 % 28.45 %
Q2 2013 37.32 % 35.33 % 28.41 %
Q3 2013 36.43 % 34.49 % 27.31 %
Q4 2013 36.28 % 34.75 % 27.82 %
Q1 2014 36.96 % 35.23 % 28.30 %
Q2 2014 38.38 % 36.89 % 29.85 %
Q3 2014 38.62 % 37.06 % 30.51 %
Q4 2014 39.34 % 37.06 % 29.35 %
Q1 2015 39.29 % 37.21 % 27.75 %
Q2 2015 40.95 % 38.13 % 28.48 %
Q3 2015 43.13 % 39.64 % 27.13 %
Q4 2015 42.30 % 38.33 % 26.45 %
Q1 2016 42.90 % 37.45 % 28.61 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2007 15.00 - - 10.84
Q2 2007 15.00 3.22 3.22 11.83
Q3 2007 15.00 3.31 3.31 12.64
Q4 2007 15.00 2.88 2.88 13.05
Q1 2008 15.00 2.90 2.90 11.38
Q2 2008 15.00 2.71 2.71 12.50
Q3 2008 15.00 2.58 2.58 13.24
Q4 2008 15.00 3.21 3.21 14.09
Q1 2009 15.00 3.04 3.04 12.32
Q2 2009 15.00 2.54 2.54 12.65
Q3 2009 15.00 2.48 2.48 13.36
Q4 2009 15.00 2.84 2.84 14.40
Q1 2010 15.00 3.51 3.51 13.38
Q2 2010 15.00 4.67 4.67 14.81
Q3 2010 15.00 5.26 5.26 16.05
Q4 2010 15.00 5.09 5.09 16.95
Q1 2011 15.00 5.08 5.08 15.17
Q2 2011 15.00 5.25 5.25 14.78
Q3 2011 15.00 5.27 5.27 16.06
Q4 2011 15.00 5.52 5.52 15.26
Q1 2012 15.00 5.52 5.52 15.49
Q2 2012 15.00 5.36 5.36 15.67
Q3 2012 15.00 5.59 5.59 17.15
Q4 2012 15.00 5.83 5.83 14.93
Q1 2013 15.00 6.03 6.03 16.33
Q2 2013 15.00 5.93 5.93 16.16
Q3 2013 15.00 5.58 5.58 17.32
Q4 2013 15.00 5.63 5.63 15.41
Q1 2014 15.00 5.67 5.67 15.63
Q2 2014 15.00 6.17 6.17 16.20
Q3 2014 15.00 6.74 6.74 16.64
Q4 2014 15.00 6.71 6.71 16.81
Q1 2015 15.00 6.66 6.66 16.77
Q2 2015 15.00 6.99 6.99 17.46
Q3 2015 15.00 6.70 6.70 18.91
Q4 2015 15.00 6.88 6.88 17.69
Q1 2016 15.00 7.66 7.66 21.19

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2007 - - -
Q2 2007 36.31 36.31 9.87
Q3 2007 34.05 34.05 8.92
Q4 2007 37.86 37.86 8.36
Q1 2008 25.35 25.35 6.46
Q2 2008 29.95 29.95 6.50
Q3 2008 19.79 19.79 3.85
Q4 2008 10.27 10.27 2.34
Q1 2009 16.29 16.29 4.02
Q2 2009 17.55 17.55 3.53
Q3 2009 16.58 16.58 3.08
Q4 2009 14.50 14.50 2.86
Q1 2010 14.06 14.06 3.69
Q2 2010 13.71 13.71 4.32
Q3 2010 11.17 11.17 3.66
Q4 2010 11.58 11.58 3.48
Q1 2011 10.67 10.67 3.58
Q2 2011 11.82 11.82 4.19
Q3 2011 11.28 11.28 3.70
Q4 2011 12.32 12.32 4.45
Q1 2012 13.64 13.64 4.86
Q2 2012 11.56 11.56 3.96
Q3 2012 11.68 11.68 3.80
Q4 2012 11.71 11.71 4.57
Q1 2013 11.36 11.36 4.19
Q2 2013 12.32 12.32 4.52
Q3 2013 13.32 13.32 4.29
Q4 2013 12.97 12.97 4.74
Q1 2014 15.48 15.48 5.61
Q2 2014 15.78 15.78 6.02
Q3 2014 15.73 15.73 6.37
Q4 2014 13.43 13.43 5.36
Q1 2015 15.10 15.10 5.99
Q2 2015 14.27 14.27 5.71
Q3 2015 12.39 12.39 4.39
Q4 2015 13.67 13.67 5.32
Q1 2016 10.75 10.75 3.89

Current
Market Cap (M Riyal) 663.00
Enterprise Value (EV) (M) 658.18
Shares Outstanding ((M)) 15.00
EPS ( Riyal) (TTM) (4.17)
Book Value (BV) ( Riyal) 13.58
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 3.25
Return on Average Assets (%) (TTM) (22.79 )
Return on Average Equity (%) (TTM) (26.67 )

Share Price

44.20
(1.20) (2.64 %)

Saudi Vitrified Clay Pipes Co. (SVCP)


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