Northern cement posts lower net profit at SAR 122.9mln in I2 of 2014

30/06/2014 Argaam Exclusive

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Northern Region Cement Co. (NORTHERN CEMENT)

Northern Region Cement Company, reported SAR 122.9mln net profit at the end of the first half of 2014, an 8% decrease compared to the same period last year.

Financials (M)

Item	6m 2013	6m 2014	Change‬
Revenues	437.71	538.28	23.0 %
Gross Income	154.64	204.58	32.3 %
Operating Income	130.30	135.69	4.1 %
Net Income	133.00	122.86	(7.6 %)
Average Shares	180.00	180.00	-
EPS (Riyals)	0.74	0.68	(7.6 %)

Current Quarter Comparison (M)

Compared With The

Item	Q2 2013	Q2 2014	Change‬
Revenues	255.94	229.75	(10.2 %)
Gross Income	97.75	88.24	(9.7 %)
Operating Income	85.28	67.55	(20.8 %)
Net Income	90.20	62.09	(31.2 %)
Average Shares	180.00	180.00	-
EPS (Riyals)	0.50	0.34	(31.2 %)

Item	Q1 2014	Q2 2014	Change‬
Revenues	308.53	229.75	(25.5 %)
Gross Income	116.34	88.24	(24.1 %)
Operating Income	68.15	67.55	(0.9 %)
Net Income	60.76	62.09	2.2 %
Average Shares	180.00	180.00	-
EPS (Riyals)	0.34	0.34	2.2 %

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
Q1 2005	-	-	-	-	-	-	-
Q2 2005	-	-	-	-	-	-	-
Q3 2005	-	-	-	-	-	-	-
Q4 2005	-	-	-	-	-	-	-
2005	-	-	-	-	-	-	-
Q1 2006	-	-	-	-	-	-	-
Q2 2006	-	-	-	-	-	-	-
Q3 2006	-	-	-	-	-	-	-
Q4 2006	-	-	-	-	-	-	-
2006	-	-	-	-	-	-	-
Q1 2007	-	-	-	-	-	-	-
Q2 2007	-	-	-	-	-	-	-
Q3 2007	-	-	-	-	-	-	-
Q4 2007	-	-	-	-	-	-	-
2007	-	-	-	-	-	-	-
Q1 2008	-	-	-	-	-	-	-
Q2 2008	-	-	-	-	-	-	-
Q3 2008	-	-	-	-	-	-	-
Q4 2008	-	-	-	-	-	-	-
2008	20.50	-	9.39	-	72.82	-	0.40
Q1 2009	-	-	-	-	-	-	-
Q2 2009	-	-	-	-	-	-	-
Q3 2009	-	-	-	-	-	-	-
Q4 2009	-	-	-	-	-	-	-
2009	444.59	2068.7 %	199.21	2021.7 %	171.66	135.7 %	0.95
Q1 2010	-	-	-	-	-	-	-
Q2 2010	-	-	-	-	-	-	-
Q3 2010	-	-	-	-	-	-	-
Q4 2010	-	-	-	-	-	-	-
2010	893.97	101.1 %	320.96	61.1 %	284.96	66.0 %	1.58
Q1 2011	-	-	-	-	-	-	-
Q2 2011	-	-	-	-	-	-	-
Q3 2011	-	-	-	-	-	-	-
Q4 2011	-	-	-	-	-	-	-
2011	586.76	(34.4 %)	237.30	(26.1 %)	246.20	(13.6 %)	1.37
Q1 2012	152.74	-	50.70	-	39.47	-	0.22
Q2 2012	154.83	-	39.20	-	28.73	-	0.16
Q3 2012	118.55	-	16.67	-	7.28	-	0.04
Q4 2012	112.52	-	30.75	-	17.94	-	0.10
2012	538.63	(8.2 %)	137.33	(42.1 %)	93.42	(62.1 %)	0.52
Q1 2013	181.77	19.0 %	56.90	12.2 %	42.79	8.4 %	0.24
Q2 2013	255.94	65.3 %	97.75	149.3 %	90.20	213.9 %	0.50
Q3 2013	167.45	41.3 %	59.46	256.6 %	50.04	587.1 %	0.28
Q4 2013	247.28	119.8 %	140.41	356.6 %	51.58	187.6 %	0.29
2013	852.44	58.3 %	354.51	158.1 %	234.62	151.2 %	1.30
Q1 2014	308.53	69.7 %	116.34	104.5 %	60.76	42.0 %	0.34
Q2 2014	229.75	(10.2 %)	88.24	(9.7 %)	62.09	(31.2 %)	0.34

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
2004	-	-	-	-	-	-	-
2005	-	-	-	-	-	-	-
2006	-	-	-	-	-	-	-
2007	-	-	-	-	-	-	-
2008	20.50	-	9.39	-	72.82	-	0.40
2009	444.59	2068.7 %	199.21	2021.7 %	171.66	135.7 %	0.95
2010	893.97	101.1 %	320.96	61.1 %	284.96	66.0 %	1.58
2011	586.76	(34.4 %)	237.30	(26.1 %)	246.20	(13.6 %)	1.37
2012	538.63	(8.2 %)	137.33	(42.1 %)	93.42	(62.1 %)	0.52
2013	852.44	58.3 %	354.51	158.1 %	234.62	151.2 %	1.30

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2005	-	-	-
Q2 2005	-	-	-
Q3 2005	-	-	-
Q4 2005	-	-	-
2005	-	-	-
Q1 2006	-	-	-
Q2 2006	-	-	-
Q3 2006	-	-	-
Q4 2006	-	-	-
2006	-	-	-
Q1 2007	-	-	-
Q2 2007	-	-	-
Q3 2007	-	-	-
Q4 2007	-	-	-
2007	-	-	-
Q1 2008	-	-	-
Q2 2008	-	-	-
Q3 2008	-	-	-
Q4 2008	-	-	-
2008	45.80 %	99.21 %	406.36 %
Q1 2009	-	-	-
Q2 2009	-	-	-
Q3 2009	-	-	-
Q4 2009	-	-	-
2009	44.81 %	56.09 %	39.13 %
Q1 2010	-	-	-
Q2 2010	-	-	-
Q3 2010	-	-	-
Q4 2010	-	-	-
2010	35.90 %	40.21 %	31.88 %
Q1 2011	-	-	-
Q2 2011	-	-	-
Q3 2011	-	-	-
Q4 2011	-	-	-
2011	40.44 %	45.10 %	30.68 %
Q1 2012	-	-	-
Q2 2012	-	-	-
Q3 2012	-	-	-
Q4 2012	25.50 %	32.44 %	17.34 %
2012	25.50 %	32.44 %	17.34 %
Q1 2013	25.28 %	31.98 %	17.04 %
Q2 2013	30.21 %	36.51 %	23.66 %
Q3 2013	34.12 %	41.22 %	28.00 %
Q4 2013	41.59 %	39.64 %	27.52 %
2013	41.59 %	39.64 %	27.52 %
Q1 2014	42.27 %	37.12 %	25.80 %
Q2 2014	42.44 %	36.65 %	23.55 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2004	-	-	-
2005	-	-	-
2006	-	-	-
2007	-	-	-
2008	45.80 %	99.21 %	406.36 %
2009	44.81 %	56.09 %	39.13 %
2010	35.90 %	40.21 %	31.88 %
2011	40.44 %	45.10 %	30.68 %
2012	25.50 %	32.44 %	17.34 %
2013	41.59 %	39.64 %	27.52 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2005	-	-	-
Q2 2005	-	-	-
Q3 2005	-	-	-
Q4 2005	-	-	-
Q1 2006	-	-	-
Q2 2006	-	-	-
Q3 2006	-	-	-
Q4 2006	-	-	-
Q1 2007	-	-	-
Q2 2007	-	-	-
Q3 2007	-	-	-
Q4 2007	-	-	-
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	33.20 %	39.83 %	25.84 %
Q2 2012	25.32 %	29.61 %	18.56 %
Q3 2012	14.06 %	21.66 %	6.14 %
Q4 2012	27.33 %	37.66 %	15.94 %
Q1 2013	31.30 %	37.21 %	23.54 %
Q2 2013	38.19 %	42.38 %	35.24 %
Q3 2013	35.51 %	46.20 %	29.88 %
Q4 2013	56.78 %	34.14 %	20.86 %
Q1 2014	37.71 %	30.21 %	19.70 %
Q2 2014	38.41 %	41.03 %	27.03 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2005	-	-	-	-
Q2 2005	-	-	-	-
Q3 2005	-	-	-	-
Q4 2005	-	-	-	-
Q1 2006	-	-	-	-
Q2 2006	-	-	-	-
Q3 2006	-	-	-	-
Q4 2006	-	-	-	-
Q1 2007	-	-	-	-
Q2 2007	-	-	-	-
Q3 2007	-	-	-	-
Q4 2007	-	-	-	-
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	180.00	-	-	7.86
Q2 2012	180.00	-	-	7.90
Q3 2012	180.00	-	-	7.78
Q4 2012	180.00	0.52	0.52	7.88
Q1 2013	180.00	0.54	0.54	12.96
Q2 2013	180.00	0.88	0.88	12.76
Q3 2013	180.00	1.12	1.12	12.04
Q4 2013	180.00	1.30	1.30	12.28
Q1 2014	180.00	1.40	1.40	11.62
Q2 2014	180.00	1.25	1.25	11.96

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2004	-	-	-	-
2005	-	-	-	-
2006	-	-	-	-
2007	-	-	-	-
2008	180.00	0.40	0.46	3.82
2009	180.00	0.95	0.97	4.76
2010	180.00	1.58	1.58	4.64
2011	180.00	1.37	1.00	7.64
2012	180.00	0.52	0.52	7.88
2013	180.00	1.30	1.30	12.28

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2005	-	-	-
Q2 2005	-	-	-
Q3 2005	-	-	-
Q4 2005	-	-	-
Q1 2006	-	-	-
Q2 2006	-	-	-
Q3 2006	-	-	-
Q4 2006	-	-	-
Q1 2007	-	-	-
Q2 2007	-	-	-
Q3 2007	-	-	-
Q4 2007	-	-	-
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	35.07	35.07	1.45
Q2 2013	23.61	23.61	1.63
Q3 2013	20.42	20.42	1.89
Q4 2013	17.76	17.76	1.89
Q1 2014	17.07	17.07	2.06
Q2 2014	20.30	20.30	2.12

Period	P/E	Adjusted P/E	Price/book
2004	-	-	-
2005	-	-	-
2006	-	-	-
2007	-	-	-
2008	-	-	-
2009	-	-	-
2010	-	-	-
2011	-	-	-
2012	-	-	-
2013	17.76	17.76	1.89

Analysts Estimates (Million)

Item	Q2 2014 (e)	Q2 2014 (a)	Change‬
Average	58.90	62.09	5.42 %

Estimates vs Actual (Million)

Item	Q2 2014 (e)	Q2 2014 (a)	Change
OSOOL AND BAKHEET	58.90	62.09	5.4 %

Financial Ratios

	Current
Market Cap (M Riyal)	1,731.60
Enterprise Value (EV) (M)	2,644.06
Shares Outstanding ((M))	180.00
EPS ( Riyal) (TTM)	0.48
Book Value (BV) ( Riyal)	12.48
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	19.89
P/E (TTM)	19.89
Price/book	0.77
Return on Average Assets (%) (TTM)	2.5
Return on Average Equity (%) (TTM)	3.9

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Northern cement posts lower net profit at SAR 122.9mln in I2 of 2014

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Share Price

Northern Region Cement Co. (NORTHERN CEMENT)

Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

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Northern cement posts lower net profit at SAR 122.9mln in I2 of 2014

View other reports

Share Price

Northern Region Cement Co. (NORTHERN CEMENT)

Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

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