Bawan’s FY15 profit tumbles 50% on lower revenue, higher expenses
Bawan Co. said its net profit for the 2015 fiscal year plunged 50 percent year-on-year (YOY) to SAR 88.15 million. The company cited lower revenue, higher operating expenses, financial charges and Zakat as the main factors which weighed on results during the period.
Financials (M)
Item | 2014 | 2015 | Change |
---|---|---|---|
Revenues | 2,800.20 | 2,403.98 | (14.1 %) |
Gross Income | 394.03 | 295.15 | (25.1 %) |
Operating Income | 220.05 | 123.83 | (43.7 %) |
Net Income | 176.46 | 88.15 | (50.0 %) |
Average Shares | 60.00 | 60.00 | - |
EPS (Riyals) | 2.94 | 1.47 | (50.0 %) |
The company’s fourth-quarter net profit also dropped 55 percent YOY to SAR 16.88 million. Profit for Q4-2015 was 16 percent lower when compared to the previous quarter.
Current Quarter Comparison (M)
Item | Q4 2014 | Q4 2015 | Change |
---|---|---|---|
Revenues | 654.49 | 549.94 | (16.0 %) |
Gross Income | 81.30 | 76.47 | (5.9 %) |
Operating Income | 35.84 | 28.87 | (19.5 %) |
Net Income | 37.22 | 16.88 | (54.6 %) |
Average Shares | 60.00 | 60.00 | - |
EPS (Riyals) | 0.62 | 0.28 | (54.6 %) |
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Share Price
Bawan Co. (BAWAN)
Current | |
Market Cap (M Riyal) | 2,598.00 |
Enterprise Value (EV) (M) | 2,985.79 |
Shares Outstanding ((M)) | 60.00 |
EPS ( Riyal) (TTM) | 1.87 |
Book Value (BV) ( Riyal) | 14.96 |
Par Value ( Riyal) | 10.00 |
Adjusted P/E (Last12) | 23.18 |
P/E (TTM) | 23.18 |
Price/book | 2.89 |
Return on Average Assets (%) (TTM) | 5.4 |
Return on Average Equity (%) (TTM) | 12.6 |
Financial results (Million)
Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
---|---|---|---|---|---|---|
Q1 2015 | 661.53 | (14.5 %) | 76.76 | (32.1 %) | 35.76 | (47.8 %) |
Q2 2015 | 646.04 | (14.8 %) | 71.90 | (33.1 %) | 30.01 | (50.3 %) |
Q3 2015 | 546.48 | (11.0 %) | 70.02 | (24.0 %) | 29.19 | (47.3 %) |
Q4 2015 | 549.94 | (16.0 %) | 76.47 | (5.9 %) | 28.87 | (19.5 %) |
2015 | 2,403.98 | (14.1 %) | 295.15 | (25.1 %) | 123.83 | (43.7 %) |
Profit Performance (Million)
Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS Before XO Items |
---|---|---|---|---|---|---|
Q1 2015 | 27.33 | (41.5 %) | 0.46 | - | 27.33 | 0.46 |
Q2 2015 | 23.81 | (49.5 %) | 0.40 | - | 23.81 | 0.40 |
Q3 2015 | 20.13 | (55.7 %) | 0.34 | - | 20.13 | 0.34 |
Q4 2015 | 16.88 | (54.6 %) | 0.28 | - | 16.88 | 0.28 |
2015 | 88.15 | (50.0 %) | 1.47 | - | 88.15 | 1.47 |
Profitability
Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
---|---|---|---|
Q1 2015 | 13.30 % | 8.89 % | 5.18 % |
Q2 2015 | 12.50 % | 8.18 % | 4.65 % |
Q3 2015 | 11.96 % | 7.43 % | 3.80 % |
Q4 2015 | 12.28 % | 7.47 % | 3.67 % |
2015 | 12.28 % | 7.47 % | 3.67 % |
Compared With The
Per Share Data (Riyal)
Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
---|---|---|---|---|
Q1 2015 | 60.00 | 2.62 | 2.32 | 12.69 |
Q2 2015 | 60.00 | 2.23 | 2.00 | 12.66 |
Q3 2015 | 60.00 | 1.81 | 1.59 | 12.79 |
Q4 2015 | 60.00 | 1.47 | 1.47 | 12.79 |
Multiple Ratios (End of Period Price)
Period | P/E | Adjusted P/E | Price/book |
---|---|---|---|
Q1 2015 | 15.62 | 17.62 | 3.22 |
Q2 2015 | 18.03 | 20.15 | 3.18 |
Q3 2015 | 15.58 | 17.70 | 2.20 |
Q4 2015 | 15.89 | 15.89 | 1.83 |
Business Segments (Million)
Q4 2015
Period | Electrical products | concrete | Iron Industry | Wood | Others |
---|---|---|---|---|---|
Q1 2015 | 90.02 | 57.09 | 330.33 | 184.08 | - |
Q2 2015 | 113.47 | 51.96 | 301.33 | 179.29 | - |
Q3 2015 | 119.82 | 46.97 | 215.28 | 164.41 | - |
Q4 2015 | 146.98 | 51.18 | 200.32 | 151.46 | - |
Analysts Estimates (Million)
Item | Q4 2015 (e) | Q4 2015 (a) | Change |
---|---|---|---|
Average | 20.60 | 16.88 | (18.1 %) |
Estimates vs Actual (Million)
Item | Q4 2015 (e) | Q4 2015 (a) | Change |
---|---|---|---|
Riyad Capital | 18.90 | 16.88 | (10.7) % |
Value Capital | 22.30 | 16.88 | (24.3) % |
Call Request
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