L’Azurde’s net profit drops 26% in FY16
L’Azurde Company for Jewelry reported a net profit of SAR 74.6 million for fiscal year 2016, a 26 percent year-on-year (YoY) drop on lower operating revenue and operating income.
The jeweler’s operating costs for the year also increased, along with higher selling and marketing expenses in Q4.
Financials (M)
Item | 2015 | 2016 | Change |
---|---|---|---|
Revenues | 2,814.20 | 2,018.30 | (28.3 %) |
Gross Income | 339.33 | 244.54 | (27.9 %) |
Operating Income | 149.48 | 68.00 | (54.5 %) |
Net Income | 100.57 | 71.95 | (28.5 %) |
Average Shares | 50.51 | 50.51 | - |
EPS (Riyals) | 1.99 | 1.42 | (28.5 %) |
Net profit for fourth quarter slumped 86 percent YoY to SAR 1.6 million also due to lower operating revenues.
Q4 profit more than tripled quarter-on-quarter, boosted by a “one-off foreign currency gain largely offset by lower sales to reduce inventory at the retailers and working capital,” L’Azurde said.
Current Quarter Comparison (M)
Item | Q4 2015 | Q4 2016 | Change |
---|---|---|---|
Revenues | 440.85 | 176.24 | (60.0 %) |
Gross Income | 55.87 | 12.84 | (77.0 %) |
Operating Income | 28.25 | (29.76) | (205.4 %) |
Net Income | 11.84 | (0.77) | (106.5 %) |
Average Shares | 50.51 | 50.51 | - |
EPS (Riyals) | 0.23 | (0.02) | (106.5 %) |
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Share Price
Lazurde Company for Jewelry (LAZURDE)
Current | |
Market Cap (M Riyal) | 779.70 |
Enterprise Value (EV) (M) | 2,036.05 |
Shares Outstanding ((M)) | 57.50 |
EPS ( Riyal) (TTM) | 0.76 |
Book Value (BV) ( Riyal) | 5.40 |
Par Value ( Riyal) | 10.00 |
Adjusted P/E (Last12) | 23.03 |
P/E (TTM) | 17.74 |
Price/book | 2.51 |
Return on Average Assets (%) (TTM) | 2.5 |
Return on Average Equity (%) (TTM) | 12.9 |
Financial results (Million)
Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
---|---|---|---|---|---|---|
Q1 2016 | 883.55 | (5.8 %) | 117.33 | 4.9 % | 52.88 | 1.3 % |
Q2 2016 | 552.19 | (27.8 %) | 40.49 | (53.9 %) | 5.11 | (85.6 %) |
Q3 2016 | 406.33 | (39.5 %) | 73.89 | (11.9 %) | 39.77 | 18.9 % |
Q4 2016 | 176.24 | (60.0 %) | 12.84 | (77.0 %) | (29.76) | (205.4 %) |
2016 | 2,018.30 | (28.3 %) | 244.54 | (27.9 %) | 68.00 | (54.5 %) |
Profit Performance (Million)
Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS Before XO Items |
---|---|---|---|---|---|---|
Q1 2016 | 51.01 | 23.7 % | 1.01 | - | 51.01 | 1.01 |
Q2 2016 | (7.04) | (131.3 %) | (0.14) | - | (7.04) | (0.14) |
Q3 2016 | 28.75 | 15.1 % | 0.57 | - | 28.75 | 0.57 |
Q4 2016 | (0.77) | (106.5 %) | (0.02) | 44.22 | (44.98) | (0.89) |
2016 | 71.95 | (28.5 %) | 1.42 | 44.22 | 27.74 | 0.55 |
Profitability
Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
---|---|---|---|
Q1 2016 | 12.49 % | 5.81 % | 4.00 % |
Q2 2016 | 11.68 % | 5.11 % | 3.17 % |
Q3 2016 | 12.60 % | 5.99 % | 3.70 % |
Q4 2016 | 12.12 % | 3.89 % | 1.37 % |
2016 | 12.12 % | 3.89 % | 1.37 % |
Compared With The
Per Share Data (Riyal)
Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
---|---|---|---|---|
Q1 2016 | 50.51 | 2.18 | 2.18 | 9.62 |
Q2 2016 | 50.51 | 1.60 | 1.60 | 9.48 |
Q3 2016 | 50.51 | 1.67 | 1.67 | 10.07 |
Q4 2016 | 50.51 | 1.42 | 0.55 | 7.97 |
Multiple Ratios (End of Period Price)
Period | P/E | Adjusted P/E | Price/book |
---|---|---|---|
Q1 2016 | - | - | - |
Q2 2016 | 22.70 | 22.70 | 3.83 |
Q3 2016 | 12.15 | 12.15 | 2.02 |
Q4 2016 | 14.72 | 38.19 | 2.63 |
Business Segments (Million)
Q4 2016
Period | Wholesale sector | Retail sector |
---|---|---|
Q1 2016 | 857.85 | 25.70 |
Q2 2016 | 531.37 | 20.82 |
Q3 2016 | 390.73 | 15.60 |
Q4 2016 | 155.77 | 20.48 |
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