Financial Results : Extra posts higher net profit at SAR 79.5m in I2 of 2013

Extra posts higher net profit at SAR 79.5m in I2 of 2013

30/06/2013 Argaam Exclusive

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United Electronics Co., active in retail selling of electronic and household devices, reported SAR 79.5m net profit at the end of the first half of 2013, a 10% increase compared to the same period last year, as shown in the following table:



Financials (M)

Item 6m 2012 6m 2013 Change‬
Revenues 1,352.29 1,694.60 25.3 %
Gross Income 243.00 286.95 18.1 %
Operating Income 74.00 81.88 10.6 %
Net Income 72.15 79.51 10.2 %
Average Shares 80.00 80.00 -
EPS (Riyals) 0.90 0.99 10.2 %


Current Quarter Comparison (M)

Compared With The
Item Q2 2012 Q2 2013 Change‬
Revenues 726.27 971.21 33.7 %
Gross Income 131.05 160.30 22.3 %
Operating Income 49.66 54.90 10.5 %
Net Income 48.37 53.30 10.2 %
Average Shares 80.00 80.00 -
EPS (Riyals) 0.60 0.67 10.2 %


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2004 - - - - - -
Q2 2004 - - - - - -
Q3 2004 - - - - - -
Q4 2004 - - - - - -
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 455.43 - 80.77 - 24.58 -
Q4 2010 531.23 - 101.02 - 38.72 -
Q1 2011 476.68 - 91.62 - 20.16 -
Q2 2011 650.72 - 119.43 - 46.71 -
Q3 2011 610.26 34.0 % 103.99 28.7 % 27.12 10.3 %
Q4 2011 723.86 36.3 % 120.23 19.0 % 41.92 8.3 %
Q1 2012 626.03 31.3 % 111.95 22.2 % 24.34 20.7 %
Q2 2012 726.27 11.6 % 131.05 9.7 % 49.66 6.3 %
Q3 2012 698.82 14.5 % 120.95 16.3 % 29.34 8.2 %
Q4 2012 963.92 33.2 % 166.56 38.5 % 60.20 43.6 %
Q1 2013 723.40 15.6 % 126.65 13.1 % 26.90 10.5 %
Q2 2013 971.21 33.7 % 160.30 22.3 % 54.90 10.5 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2004 - - - - - -
Q2 2004 - - - - - -
Q3 2004 - - - - - -
Q4 2004 - - - - - -
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 24.52 - 0.31 - 24.52 0.31
Q4 2010 37.36 - 0.47 - 37.36 0.47
Q1 2011 19.05 - 0.24 - 19.05 0.24
Q2 2011 45.46 - 0.57 - 45.46 0.57
Q3 2011 26.36 7.5 % 0.33 - 26.36 0.33
Q4 2011 41.21 10.3 % 0.52 - 41.21 0.52
Q1 2012 23.78 24.8 % 0.30 - 23.78 0.30
Q2 2012 48.37 6.4 % 0.60 - 48.37 0.60
Q3 2012 28.37 7.6 % 0.35 - 28.37 0.35
Q4 2012 58.08 40.9 % 0.73 - 58.08 0.73
Q1 2013 26.22 10.3 % 0.33 - 26.22 0.33
Q2 2013 53.30 10.2 % 0.67 - 53.30 0.67

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2004 - - -
Q2 2004 - - -
Q3 2004 - - -
Q4 2004 - - -
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 18.58 % 6.91 % 5.98 %
Q3 2011 18.34 % 6.79 % 5.65 %
Q4 2011 17.68 % 6.42 % 5.37 %
Q1 2012 17.45 % 6.27 % 5.24 %
Q2 2012 17.39 % 6.25 % 5.20 %
Q3 2012 17.45 % 6.19 % 5.11 %
Q4 2012 17.60 % 6.36 % 5.26 %
Q1 2013 17.52 % 6.29 % 5.17 %
Q2 2013 17.11 % 6.06 % 4.94 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2004 - - - -
Q2 2004 - - - -
Q3 2004 - - - -
Q4 2004 - - - -
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 80.00 - - 2.57
Q4 2010 80.00 - - 3.04
Q1 2011 80.00 - - 3.28
Q2 2011 80.00 1.58 1.58 3.85
Q3 2011 80.00 1.60 1.60 4.18
Q4 2011 80.00 1.65 1.65 4.69
Q1 2012 80.00 1.71 1.71 4.22
Q2 2012 80.00 1.75 1.75 4.83
Q3 2012 80.00 1.77 1.77 5.18
Q4 2012 80.00 1.98 1.98 5.91
Q1 2013 80.00 2.01 2.01 6.23
Q2 2013 80.00 2.07 2.07 6.13

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2004 - - -
Q2 2004 - - -
Q3 2004 - - -
Q4 2004 - - -
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 13.96 13.96 4.91
Q1 2012 16.05 16.05 6.50
Q2 2012 14.82 14.82 5.36
Q3 2012 15.79 15.79 5.40
Q4 2012 15.62 15.62 5.24
Q1 2013 18.05 18.05 5.83
Q2 2013 17.58 17.58 5.95

Current
Market Cap (M Riyal) 8,048.00
Enterprise Value (EV) (M) 9,282.89
Shares Outstanding ((M)) 80.00
EPS ( Riyal) (TTM) 6.04
Book Value (BV) ( Riyal) 16.97
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 17.25
P/E (TTM) 16.67
Price/book 5.93
Return on Average Assets (%) (TTM) 10.6
Return on Average Equity (%) (TTM) 38.7

Share Price

100.60
(2.00) (1.95 %)

United Electronics Co. (EXTRA)


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