Bawan’s net profit drops 49% in H1

01/08/2018 Argaam Exclusive

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Bawan Company reported a net profit of SAR 15.6 million for the first half of 2018, a drop of 48.8 percent year-on-year (YoY), due to lower profit margin and other revenues.

Financials (M)

Item	6m 2017	6m 2018	Change‬
Revenues	1,025.65	988.12	(3.7 %)
Gross Income	122.10	96.33	(21.1 %)
Operating Income	47.70	24.34	(49.0 %)
Net Income	30.49	15.61	(48.8 %)
Average Shares	60.00	60.00	-
EPS (Riyals)	0.51	0.26	(48.8 %)

The company’s Q2 net profit tumbled by 82.03 percent YoY to SAR 1.6 million, impacted by a lower profit margin, due to a decrease in sale volumes.

On a sequential basis, the second-quarter profit plunged 88.6 percent.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2017	Q2 2018	Change‬
Revenues	475.66	465.77	(2.1 %)
Gross Income	53.25	39.73	(25.4 %)
Operating Income	17.21	5.50	(68.1 %)
Net Income	8.90	1.60	(82.0 %)
Average Shares	60.00	60.00	-
EPS (Riyals)	0.15	0.03	(82.0 %)

Item	Q1 2018	Q2 2018	Change‬
Revenues	522.35	465.77	(10.8 %)
Gross Income	56.60	39.73	(29.8 %)
Operating Income	18.84	5.50	(70.8 %)
Net Income	14.02	1.60	(88.6 %)
Average Shares	60.00	60.00	-
EPS (Riyals)	0.23	0.03	(88.6 %)

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
Q1 2009	-	-	-	-	-	-
Q2 2009	-	-	-	-	-	-
Q3 2009	-	-	-	-	-	-
Q4 2009	-	-	-	-	-	-
2009	-	-	-	-	-	-
Q1 2010	-	-	-	-	-	-
Q2 2010	-	-	-	-	-	-
Q3 2010	-	-	-	-	-	-
Q4 2010	-	-	-	-	-	-
2010	1,573.77	-	275.51	-	170.73	-
Q1 2011	-	-	-	-	-	-
Q2 2011	-	-	-	-	-	-
Q3 2011	-	-	-	-	-	-
Q4 2011	-	-	-	-	-	-
2011	1,856.64	18.0 %	281.65	2.2 %	167.53	(1.9 %)
Q1 2012	558.24	-	70.14	-	40.82	-
Q2 2012	531.64	-	64.40	-	35.75	-
Q3 2012	493.18	-	63.94	-	34.36	-
Q4 2012	502.56	-	79.96	-	46.15	-
2012	2,085.62	12.3 %	278.44	(1.1 %)	157.07	(6.2 %)
Q1 2013	571.83	2.4 %	82.56	17.7 %	49.37	21.0 %
Q2 2013	619.59	16.5 %	105.23	63.4 %	68.97	92.9 %
Q3 2013	616.28	25.0 %	112.60	76.1 %	74.52	116.9 %
Q4 2013	640.77	27.5 %	93.20	16.6 %	46.03	(0.3 %)
2013	2,448.46	17.4 %	393.59	41.4 %	238.89	52.1 %
Q1 2014	773.49	35.3 %	113.12	37.0 %	68.46	38.7 %
Q2 2014	758.47	22.4 %	107.51	2.2 %	60.40	(12.4 %)
Q3 2014	613.76	(0.4 %)	92.10	(18.2 %)	55.35	(25.7 %)
Q4 2014	654.49	2.1 %	81.30	(12.8 %)	35.84	(22.1 %)
2014	2,800.20	14.4 %	394.03	0.1 %	220.05	(7.9 %)
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 %)
Q1 2016	611.19	(7.6 %)	83.15	8.3 %	39.89	11.5 %
Q2 2016	642.66	(0.5 %)	120.65	67.8 %	65.53	118.3 %
Q3 2016	535.02	(2.1 %)	73.70	5.3 %	32.59	11.6 %
Q4 2016	529.76	(3.7 %)	74.24	(2.9 %)	23.17	(19.7 %)
2016	2,318.62	(3.6 %)	351.74	19.2 %	161.17	30.2 %
Q1 2017	549.99	(10.0 %)	68.85	(17.2 %)	30.49	(23.6 %)
Q2 2017	475.66	(26.0 %)	53.25	(55.9 %)	17.21	(73.7 %)
Q3 2017	506.94	(5.2 %)	62.89	(14.7 %)	29.14	(10.6 %)
Q4 2017	596.16	12.5 %	78.21	5.3 %	30.50	31.6 %
2017	2,128.75	(8.2 %)	263.20	(25.2 %)	107.34	(33.4 %)
Q1 2018	522.35	(5.0 %)	56.60	(17.8 %)	18.84	(38.2 %)
Q2 2018	465.77	(2.1 %)	39.73	(25.4 %)	5.50	(68.1 %)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2008	-	-	-	-	-	-
2009	-	-	-	-	-	-
2010	1,573.77	-	275.51	-	170.73	-
2011	1,856.64	18.0 %	281.65	2.2 %	167.53	(1.9 %)
2012	2,085.62	12.3 %	278.44	(1.1 %)	157.07	(6.2 %)
2013	2,448.46	17.4 %	393.59	41.4 %	238.89	52.1 %
2014	2,800.20	14.4 %	394.03	0.1 %	220.05	(7.9 %)
2015	2,403.98	(14.1 %)	295.15	(25.1 %)	123.83	(43.7 %)
2016	2,318.62	(3.6 %)	351.74	19.2 %	161.17	30.2 %
2017	2,128.75	(8.2 %)	263.20	(25.2 %)	107.34	(33.4 %)

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
Q1 2009	-	-	-	-	-	-
Q2 2009	-	-	-	-	-	-
Q3 2009	-	-	-	-	-	-
Q4 2009	-	-	-	-	-	-
2009	-	-	-	-	-	-
Q1 2010	-	-	-	-	-	-
Q2 2010	-	-	-	-	-	-
Q3 2010	-	-	-	-	-	-
Q4 2010	-	-	-	-	-	-
2010	140.13	-	2.34	(6.85)	146.98	2.45
Q1 2011	-	-	-	-	-	-
Q2 2011	-	-	-	-	-	-
Q3 2011	-	-	-	-	-	-
Q4 2011	-	-	-	-	-	-
2011	135.23	(3.5 %)	2.25	-	135.23	2.25
Q1 2012	32.21	-	0.54	-	32.21	0.54
Q2 2012	34.49	-	0.57	-	34.49	0.57
Q3 2012	27.22	-	0.45	-	27.22	0.45
Q4 2012	37.26	-	0.62	-	37.26	0.62
2012	131.18	(3.0 %)	2.19	-	131.18	2.19
Q1 2013	40.35	25.3 %	0.67	-	40.35	0.67
Q2 2013	43.97	27.5 %	0.73	(12.02)	55.99	0.93
Q3 2013	44.97	65.2 %	0.75	(13.96)	58.93	0.98
Q4 2013	38.90	4.4 %	0.65	11.72	27.18	0.45
2013	168.19	28.2 %	2.80	(14.27)	182.45	3.04
Q1 2014	46.72	15.8 %	0.78	(6.23)	52.95	0.88
Q2 2014	47.10	7.1 %	0.79	3.80	43.30	0.72
Q3 2014	45.42	1.0 %	0.76	1.00	44.42	0.74
Q4 2014	37.22	(4.3 %)	0.62	13.04	24.17	0.40
2014	176.46	4.9 %	2.94	11.61	164.84	2.75
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
Q1 2016	28.52	4.4 %	0.48	-	28.52	0.48
Q2 2016	53.22	123.6 %	0.89	-	53.22	0.89
Q3 2016	21.11	4.9 %	0.35	-	21.11	0.35
Q4 2016	11.52	(31.8 %)	0.19	-	11.52	0.19
2016	114.37	29.7 %	1.91	-	114.37	1.91
Q1 2017	21.59	(24.3 %)	0.36	-	21.59	0.36
Q2 2017	8.90	(83.3 %)	0.15	-	8.90	0.15
Q3 2017	23.29	10.4 %	0.39	-	23.29	0.39
Q4 2017	17.23	49.6 %	0.29	-	17.23	0.29
2017	71.01	(37.9 %)	1.18	-	71.01	1.18
Q1 2018	14.02	(35.1 %)	0.23	-	14.02	0.23
Q2 2018	1.60	(82.0 %)	0.03	-	1.60	0.03

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2008	-	-	-	-	-	-
2009	-	-	-	-	-	-
2010	140.13	-	2.34	(6.85)	146.98	2.45
2011	135.23	(3.5 %)	2.25	-	135.23	2.25
2012	131.18	(3.0 %)	2.19	-	131.18	2.19
2013	168.19	28.2 %	2.80	(14.27)	182.45	3.04
2014	176.46	4.9 %	2.94	11.61	164.84	2.75
2015	88.15	(50.0 %)	1.47	-	88.15	1.47
2016	114.37	29.7 %	1.91	-	114.37	1.91
2017	71.01	(37.9 %)	1.18	-	71.01	1.18

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2009	-	-	-
Q2 2009	-	-	-
Q3 2009	-	-	-
Q4 2009	-	-	-
2009	-	-	-
Q1 2010	-	-	-
Q2 2010	-	-	-
Q3 2010	-	-	-
Q4 2010	-	-	-
2010	17.51 %	12.88 %	9.34 %
Q1 2011	-	-	-
Q2 2011	-	-	-
Q3 2011	-	-	-
Q4 2011	-	-	-
2011	15.17 %	10.80 %	7.28 %
Q1 2012	-	-	-
Q2 2012	-	-	-
Q3 2012	-	-	-
Q4 2012	13.35 %	9.27 %	6.29 %
2012	13.35 %	9.27 %	6.29 %
Q1 2013	13.86 %	9.69 %	6.64 %
Q2 2013	15.17 %	10.84 %	7.35 %
Q3 2013	16.46 %	11.90 %	8.33 %
Q4 2013	16.08 %	11.36 %	7.45 %
2013	16.08 %	11.36 %	7.45 %
Q1 2014	16.01 %	11.23 %	7.36 %
Q2 2014	15.29 %	10.41 %	6.54 %
Q3 2014	14.57 %	9.81 %	6.02 %
Q4 2014	14.07 %	9.60 %	5.89 %
2014	14.07 %	9.60 %	5.89 %
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 %
Q1 2016	12.81 %	7.81 %	3.80 %
Q2 2016	14.90 %	9.35 %	5.05 %
Q3 2016	15.13 %	9.52 %	5.12 %
Q4 2016	15.17 %	9.26 %	4.93 %
2016	15.17 %	9.26 %	4.93 %
Q1 2017	14.95 %	9.12 %	4.76 %
Q2 2017	12.92 %	7.55 %	3.02 %
Q3 2017	12.57 %	7.50 %	3.17 %
Q4 2017	12.36 %	7.64 %	3.34 %
2017	12.36 %	7.64 %	3.34 %
Q1 2018	11.94 %	7.16 %	3.02 %
Q2 2018	11.35 %	6.60 %	2.68 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2008	-	-	-
2009	-	-	-
2010	17.51 %	12.88 %	9.34 %
2011	15.17 %	10.80 %	7.28 %
2012	13.35 %	9.27 %	6.29 %
2013	16.08 %	11.36 %	7.45 %
2014	14.07 %	9.60 %	5.89 %
2015	12.28 %	7.47 %	3.67 %
2016	15.17 %	9.26 %	4.93 %
2017	12.36 %	7.64 %	3.34 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
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	12.56 %	8.79 %	5.77 %
Q2 2012	12.11 %	8.48 %	6.49 %
Q3 2012	12.96 %	9.42 %	5.52 %
Q4 2012	15.91 %	10.48 %	7.41 %
Q1 2013	14.44 %	10.35 %	7.06 %
Q2 2013	16.98 %	12.73 %	9.04 %
Q3 2013	18.27 %	13.66 %	9.56 %
Q4 2013	14.54 %	8.72 %	4.24 %
Q1 2014	14.63 %	10.18 %	6.85 %
Q2 2014	14.17 %	9.44 %	5.71 %
Q3 2014	15.01 %	10.96 %	7.24 %
Q4 2014	12.42 %	7.82 %	3.69 %
Q1 2015	11.60 %	7.40 %	4.13 %
Q2 2015	11.13 %	6.71 %	3.68 %
Q3 2015	12.81 %	7.85 %	3.68 %
Q4 2015	13.91 %	8.09 %	3.07 %
Q1 2016	13.60 %	8.70 %	4.67 %
Q2 2016	18.77 %	12.32 %	8.28 %
Q3 2016	13.78 %	8.56 %	3.95 %
Q4 2016	14.01 %	6.88 %	2.17 %
Q1 2017	12.52 %	8.10 %	3.93 %
Q2 2017	11.20 %	6.53 %	1.87 %
Q3 2017	12.40 %	8.42 %	4.60 %
Q4 2017	13.12 %	7.45 %	2.89 %
Q1 2018	10.84 %	6.19 %	2.68 %
Q2 2018	8.53 %	4.01 %	0.34 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
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	60.00	-	-	11.07
Q2 2012	60.00	-	-	10.36
Q3 2012	60.00	-	-	10.12
Q4 2012	60.00	2.19	2.19	10.68
Q1 2013	60.00	2.32	2.32	10.30
Q2 2013	60.00	2.48	2.68	10.73
Q3 2013	60.00	2.78	3.21	11.24
Q4 2013	60.00	2.80	3.04	11.88
Q1 2014	60.00	2.91	3.25	12.68
Q2 2014	60.00	2.96	3.04	12.18
Q3 2014	60.00	2.97	2.80	12.51
Q4 2014	60.00	2.94	2.75	12.66
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
Q1 2016	60.00	1.49	1.49	13.02
Q2 2016	60.00	1.98	1.98	13.65
Q3 2016	60.00	2.00	2.00	13.62
Q4 2016	60.00	1.91	1.91	13.52
Q1 2017	60.00	1.79	1.79	13.64
Q2 2017	60.00	1.05	1.05	13.39
Q3 2017	60.00	1.09	1.09	13.78
Q4 2017	60.00	1.18	1.18	14.03
Q1 2018	60.00	1.06	1.06	13.84
Q2 2018	60.00	0.94	0.94	13.86

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2008	-	-	-	-
2009	-	-	-	-
2010	60.00	2.34	2.45	9.60
2011	60.00	2.25	2.25	10.58
2012	60.00	2.19	2.19	10.68
2013	60.00	2.80	3.04	11.88
2014	60.00	2.94	2.75	12.66
2015	60.00	1.47	1.47	12.79
2016	60.00	1.91	1.91	13.52
2017	60.00	1.18	1.18	14.03

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
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	-	-	-
Q2 2013	-	-	-
Q3 2013	-	-	-
Q4 2013	18.88	17.40	4.45
Q1 2014	16.90	15.13	3.88
Q2 2014	21.00	20.46	5.10
Q3 2014	22.05	23.40	5.23
Q4 2014	13.46	14.41	3.13
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
Q1 2016	11.49	11.49	1.31
Q2 2016	11.78	11.78	1.71
Q3 2016	8.58	8.58	1.26
Q4 2016	11.87	11.87	1.67
Q1 2017	10.81	10.81	1.42
Q2 2017	16.67	16.67	1.31
Q3 2017	15.70	15.70	1.24
Q4 2017	14.80	14.80	1.25
Q1 2018	16.31	16.31	1.25
Q2 2018	18.30	18.30	1.23

Period	P/E	Adjusted P/E	Price/book
2008	-	-	-
2009	-	-	-
2010	-	-	-
2011	-	-	-
2012	-	-	-
2013	18.88	17.40	4.45
2014	13.46	14.41	3.13
2015	15.89	15.89	1.83
2016	11.87	11.87	1.67
2017	14.80	14.80	1.25

Business Segments (Million)

Compared With The

Period	Steel and Wood	Electrical products	concrete	Iron Industry	Wood	Others
Q1 2013	-	144.29	49.35	246.91	131.28	-
Q2 2013	-	162.80	48.42	265.70	142.67	-
Q3 2013	-	198.54	42.88	228.37	146.49	-
Q4 2013	-	158.02	42.56	282.14	158.05	-
Q1 2014	-	214.90	49.87	354.48	154.23	-
Q2 2014	-	213.59	48.86	330.29	165.73	-
Q3 2014	-	140.24	38.50	243.33	191.69	-
Q4 2014	-	119.18	53.22	316.65	165.44	-
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	-
Q1 2016	398.15	161.52	51.52	-	-	-
Q2 2016	406.92	184.17	51.57	-	-	-
Q3 2016	325.99	165.20	43.83	-	-	-
Q4 2016	365.21	116.84	47.70	-	-	-
Q1 2017	390.68	110.76	48.56	-	-	-
Q2 2017	337.01	94.47	44.18	-	-	-
Q3 2017	400.03	63.71	43.20	-	-	-
Q4 2017	455.36	91.42	49.38	-	-	-
Q1 2018	408.92	75.86	37.58	-	-	-
Q2 2018	366.07	67.85	31.85	-	-	-

Period	Steel and Wood	Electrical products	concrete	Iron Industry	Wood	Others
2010	-	336.50	81.55	643.70	512.01	-
2011	-	354.03	108.76	849.13	544.72	-
2012	-	439.22	153.03	899.93	593.44	-
2013	-	663.65	183.19	1,023.13	578.49	-
2014	-	687.90	190.46	1,244.75	677.10	-
2015	-	470.28	207.20	1,047.26	679.24	-
2016	1,496.26	627.73	194.63	-	-	-
2017	1,583.08	360.35	185.32	-	-	-

Financial Ratios

	Current
Market Cap (M Riyal)	2,460.00
Enterprise Value (EV) (M)	2,847.79
Shares Outstanding ((M))	60.00
EPS ( Riyal) (TTM)	2.15
Book Value (BV) ( Riyal)	15.17
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	19.55
P/E (TTM)	19.11
Price/book	2.70
Return on Average Assets (%) (TTM)	6.0
Return on Average Equity (%) (TTM)	14.3

Bawan Co. (BAWAN)

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Bawan’s net profit drops 49% in H1

View other reports

Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million)

Revenue by Business Segment (Latest) 2018 Q2

Financial Ratios

Share Price

Bawan Co. (BAWAN)

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Bawan’s net profit drops 49% in H1

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Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million) Q2 2018

Revenue by Business Segment (Latest) 2018 Q2

Financial Ratios

Share Price

Bawan Co. (BAWAN)

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Business Segments (Million)