Middle East Paper Company (MEPCO) reported a net profit of SAR 88.4 million for the nine months ending Sept. 30, 2014, a 36 percent increase compared to the same period the previous year.
| Item | 9m 2013 | 9m 2014 | Change |
|---|---|---|---|
| Revenues | 571.81 | 623.92 | 9.1 % |
| Gross Income | 153.10 | 181.30 | 18.4 % |
| Operating Income | 91.87 | 110.11 | 19.9 % |
| Net Income | 65.52 | 88.43 | 35.0 % |
| Average Shares | 66.67 | 66.67 | - |
| EPS (Riyals) | 0.98 | 1.33 | 35.0 % |
The increase was attributed to the growth of sales and profit margin compared to the same period in 2013.
MEPCO, the Middle East's largest manufacturer of cardboards and industrial paper, is preparing to offer 15 million shares, or 30 percent of its capital public in Saudi's market in April.
| Item | Q3 2013 | Q3 2014 | Change |
|---|---|---|---|
| Revenues | 200.50 | 219.60 | 9.5 % |
| Gross Income | 61.21 | 68.98 | 12.7 % |
| Operating Income | 41.72 | 43.91 | 5.3 % |
| Net Income | 31.50 | 36.35 | 15.4 % |
| Average Shares | 66.67 | 66.67 | - |
| EPS (Riyals) | 0.47 | 0.55 | 15.4 % |
| Period | Revenues | Change | Gross Income | Change | Net Income | Change | EPS(Riyal) |
|---|---|---|---|---|---|---|---|
| Q1 2014 | 200.96 | 14.3 % | 52.97 | 28.3 % | 22.83 | 102.7 % | 0.34 |
| Q2 2014 | 203.05 | 3.9 % | 59.04 | 16.7 % | 29.26 | 28.6 % | 0.44 |
| Q3 2014 | 219.60 | 9.5 % | 68.98 | 12.7 % | 36.35 | 15.4 % | 0.55 |
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| Q1 2014 | 27.46 % | 27.05 % | 12.69 % |
| Q2 2014 | 28.26 % | 28.06 % | 13.39 % |
| Q3 2014 | 28.55 % | 28.01 % | 13.67 % |
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| Q1 2014 | 66.67 | 1.49 | 1.49 | 8.33 |
| Q2 2014 | 66.67 | 1.59 | 1.59 | 8.15 |
| Q3 2014 | 66.67 | 1.66 | 1.66 | 8.70 |
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| Q1 2014 | - | - | - |
| Q2 2014 | - | - | - |
| Q3 2014 | - | - | - |
Q3 2014
| Period | The industrial sector | The commercial sector | Disposals |
|---|---|---|---|
| Q1 2014 | 189.39 | 64.27 | (52.69) |
| Q2 2014 | 186.73 | 82.23 | (65.90) |
| Q3 2014 | 204.13 | 83.05 | (67.58) |
| Current | |
| Market Cap (M Riyal) | 3,553.47 |
| Enterprise Value (EV) (M) | 4,065.50 |
| Shares Outstanding ((M)) | 86.67 |
| EPS ( Riyal) (TTM) | (1.20) |
| Book Value (BV) ( Riyal) | 16.11 |
| Par Value ( Riyal) | 10.00 |
| Adjusted P/E (Last12) | Neg |
| P/E (TTM) | NEG |
| Price/book | 3.31 |
| Return on Average Assets (%) (TTM) | (4.14 ) |
| Return on Average Equity (%) (TTM) | (7.12 ) |
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