Tabuk Agriculture's net profit surges 50% in nine-months 2015

19/10/2015 Argaam Exclusive

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Tabuk Agriculture Development Co. reported a net profit of SAR 8.2 million for the first nine months of 2015; a 50 percent year-on-year increase it attributed to a decline in sales and marketing costs, as well as lower zakat expenses.



Financials (M)

Item 9m 2014 9m 2015 Change‬
Revenues 100.90 99.05 (1.8 %)
Gross Income 35.41 42.28 19.4 %
Operating Income 1.44 8.58 495.2 %
Net Income 5.52 8.25 49.5 %
Average Shares 22.48 33.73 50.0 %
EPS (Riyals) 0.25 0.24 (0.4 %)

 

The company's third-quarter net profit rose nine percent to SAR 3.5 million, eight percent higher when compared to its net profit of SAR 3.3 million recorded in the same quarter last year.



Current Quarter Comparison (M)

Compared With The
Item Q3 2014 Q3 2015 Change‬
Revenues 51.12 44.26 (13.4 %)
Gross Income 16.79 18.88 12.5 %
Operating Income 0.66 4.99 653.5 %
Net Income 3.27 3.45 5.4 %
Average Shares 22.48 33.73 50.0 %
EPS (Riyals) 0.15 0.10 (29.8 %)


Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Riyal)
Q1 2006 44.99 4.6 % 16.93 (15.5 %) 16.72 7.7 % 0.74
Q2 2006 24.85 (1.4 %) 10.23 (18.5 %) 0.91 (78.6 %) 0.04
Q3 2006 32.10 27.7 % 13.92 32.5 % (3.06) (21.7 %) (0.14)
Q4 2006 48.26 31.0 % 29.18 51.3 % 10.83 (57.6 %) 0.48
Q1 2007 50.09 11.3 % 19.46 14.9 % 15.22 (9.0 %) 0.68
Q2 2007 26.40 6.3 % 14.01 36.9 % 3.72 307.7 % 0.17
Q3 2007 29.30 (8.7 %) 15.44 10.9 % (1.31) 57.3 % (0.06)
Q4 2007 39.86 (17.4 %) 20.81 (28.7 %) 2.56 (76.3 %) 0.11
Q1 2008 62.11 24.0 % 23.99 23.3 % 19.31 26.9 % 0.86
Q2 2008 32.11 21.6 % 15.71 12.1 % 2.99 (19.6 %) 0.13
Q3 2008 34.78 18.7 % 14.14 (8.4 %) (3.24) (147.6 %) (0.14)
Q4 2008 38.92 (2.4 %) 20.24 (2.7 %) 4.51 76.0 % 0.20
Q1 2009 49.45 (20.4 %) 14.55 (39.4 %) 10.00 (48.2 %) 0.44
Q2 2009 24.19 (24.7 %) 9.23 (41.3 %) (0.07) (102.5 %) 0.00
Q3 2009 34.48 (0.8 %) 10.32 (27.0 %) (1.62) 49.9 % (0.07)
Q4 2009 59.69 53.4 % 18.88 (6.7 %) (1.26) (127.9 %) (0.06)
Q1 2010 9.82 (80.1 %) 5.03 (65.4 %) (2.54) (125.4 %) (0.11)
Q2 2010 32.03 32.4 % 14.99 62.4 % 5.45 7459.5 % 0.24
Q3 2010 33.58 (2.6 %) 10.86 5.2 % 1.23 175.9 % 0.05
Q4 2010 75.08 25.8 % 26.87 42.3 % 7.48 694.0 % 0.33
Q1 2011 20.69 110.7 % 11.57 130.2 % 8.21 422.8 % 0.37
Q2 2011 39.31 22.7 % 21.14 41.1 % 10.03 84.1 % 0.45
Q3 2011 71.23 112.1 % 35.81 229.9 % 18.00 1361.1 % 0.80
Q4 2011 42.54 (43.3 %) 12.47 (53.6 %) (3.13) (141.9 %) (0.14)
Q1 2012 15.56 (24.8 %) 7.46 (35.6 %) 3.55 (56.7 %) 0.16
Q2 2012 33.95 (13.6 %) 17.23 (18.5 %) 7.03 (29.9 %) 0.31
Q3 2012 67.83 (4.8 %) 28.14 (21.4 %) 8.55 (52.5 %) 0.38
Q4 2012 38.74 (8.9 %) 17.21 38.0 % (9.19) (193.7 %) (0.41)
Q1 2013 10.83 (30.4 %) 4.88 (34.5 %) 1.51 (57.4 %) 0.07
Q2 2013 38.50 13.4 % 15.50 (10.0 %) 2.50 (64.5 %) 0.11
Q3 2013 41.87 (38.3 %) 19.30 (31.4 %) 1.05 (87.7 %) 0.05
Q4 2013 29.79 (23.1 %) 12.41 (27.9 %) (19.90) (116.5 %) (0.89)
Q1 2014 20.67 90.8 % 7.26 48.6 % 1.74 15.1 % 0.08
Q2 2014 29.12 (24.4 %) 11.36 (26.7 %) 0.50 (79.9 %) 0.02
Q3 2014 51.12 22.1 % 16.79 (13.0 %) 3.27 211.2 % 0.15
Q4 2014 53.12 78.3 % 22.04 77.6 % 1.68 108.5 % 0.07
Q1 2015 26.54 28.4 % 12.68 74.7 % 4.53 159.8 % 0.13
Q2 2015 28.25 (3.0 %) 10.71 (5.7 %) 0.18 (64.6 %) 0.01
Q3 2015 44.26 (13.4 %) 18.88 12.5 % 3.45 5.4 % 0.10

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2006 44.84 % 26.87 % 33.31 %
Q2 2006 43.20 % 26.11 % 30.85 %
Q3 2006 43.49 % 24.57 % 28.91 %
Q4 2006 46.78 % 30.53 % 16.91 %
Q1 2007 46.87 % 30.95 % 15.39 %
Q2 2007 48.82 % 32.82 % 17.02 %
Q3 2007 50.69 % 35.14 % 18.47 %
Q4 2007 47.87 % 31.56 % 13.86 %
Q1 2008 47.09 % 31.88 % 15.40 %
Q2 2008 46.48 % 30.96 % 14.42 %
Q3 2008 44.21 % 28.89 % 12.81 %
Q4 2008 44.12 % 30.33 % 14.04 %
Q1 2009 41.63 % 26.99 % 9.19 %
Q2 2009 39.47 % 26.38 % 7.60 %
Q3 2009 36.95 % 27.50 % 8.71 %
Q4 2009 31.57 % 20.80 % 4.20 %
Q1 2010 33.90 % 17.24 % (4.29 %)
Q2 2010 36.19 % 19.53 % 0.02 %
Q3 2010 36.82 % 21.61 % 2.13 %
Q4 2010 38.36 % 25.21 % 7.72 %
Q1 2011 39.83 % 29.68 % 13.86 %
Q2 2011 41.76 % 31.25 % 15.98 %
Q3 2011 46.24 % 33.70 % 21.19 %
Q4 2011 46.61 % 33.31 % 19.05 %
Q1 2012 45.58 % 31.07 % 16.87 %
Q2 2012 44.68 % 29.72 % 15.59 %
Q3 2012 40.83 % 24.09 % 10.01 %
Q4 2012 44.87 % 23.43 % 8.30 %
Q1 2013 44.57 % 23.32 % 7.21 %
Q2 2013 42.16 % 20.36 % 4.09 %
Q3 2013 43.79 % 18.59 % (0.86 %)
Q4 2013 43.06 % 18.83 % (12.26 %)
Q1 2014 41.64 % 17.93 % (11.17 %)
Q2 2014 41.45 % 15.87 % (13.67 %)
Q3 2014 36.59 % 14.30 % (11.00 %)
Q4 2014 37.30 % 18.84 % 4.67 %
Q1 2015 39.32 % 20.78 % 6.24 %
Q2 2015 39.13 % 20.69 % 6.07 %
Q3 2015 42.27 % 24.88 % 6.46 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2006 22.48 1.96 1.96 17.45
Q2 2006 22.48 1.81 1.81 17.24
Q3 2006 22.48 1.78 1.78 17.02
Q4 2006 22.48 1.13 1.13 16.32
Q1 2007 22.48 1.06 1.06 16.93
Q2 2007 22.48 1.19 1.19 17.06
Q3 2007 22.48 1.27 1.27 17.05
Q4 2007 22.48 0.90 0.90 16.93
Q1 2008 22.48 1.08 1.08 17.02
Q2 2008 22.48 1.05 1.05 17.20
Q3 2008 22.48 0.96 0.96 16.87
Q4 2008 22.48 1.05 1.05 16.44
Q1 2009 22.48 0.63 0.63 16.71
Q2 2009 22.48 0.50 0.50 16.73
Q3 2009 22.48 0.57 0.57 16.69
Q4 2009 22.48 0.31 0.31 15.95
Q1 2010 22.48 (0.24) (0.24) 15.74
Q2 2010 22.48 0.00 0.00 15.93
Q3 2010 22.48 0.13 0.13 15.99
Q4 2010 22.48 0.52 0.52 15.88
Q1 2011 22.48 0.99 0.99 16.09
Q2 2011 22.48 1.20 1.20 16.52
Q3 2011 22.48 1.94 1.94 17.30
Q4 2011 22.48 1.47 1.47 16.51
Q1 2012 22.48 1.27 1.27 16.48
Q2 2012 22.48 1.13 1.13 16.74
Q3 2012 22.48 0.71 0.71 17.13
Q4 2012 22.48 0.44 0.58 16.23
Q1 2013 22.48 0.35 0.49 16.39
Q2 2013 22.48 0.15 0.28 16.25
Q3 2013 22.48 (0.18) (0.05) 16.48
Q4 2013 22.48 (0.66) (0.66) 15.47
Q1 2014 22.48 (0.65) (0.65) 15.61
Q2 2014 22.48 (0.74) (0.74) 15.57
Q3 2014 22.48 (0.64) (0.64) 15.72
Q4 2014 22.48 0.32 0.32 15.79
Q1 2015 33.73 0.30 0.30 18.07
Q2 2015 33.73 0.29 0.29 18.08
Q3 2015 33.73 0.29 0.29 18.18

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2006 38.83 38.83 4.36
Q2 2006 67.34 67.34 7.07
Q3 2006 92.16 92.16 9.67
Q4 2006 51.52 51.52 3.57
Q1 2007 71.54 71.54 4.49
Q2 2007 60.11 60.11 4.19
Q3 2007 77.85 77.85 5.78
Q4 2007 98.06 98.06 5.20
Q1 2008 52.08 52.08 3.30
Q2 2008 57.40 57.40 3.50
Q3 2008 37.10 37.10 2.12
Q4 2008 26.78 26.78 1.71
Q1 2009 46.85 46.85 1.78
Q2 2009 85.69 85.69 2.55
Q3 2009 68.60 68.60 2.34
Q4 2009 More than 100 More than 100 2.60
Q1 2010 NEG NEG 2.55
Q2 2010 More than 100 More than 100 1.91
Q3 2010 More than 100 More than 100 1.70
Q4 2010 56.91 56.91 1.85
Q1 2011 31.36 31.36 1.94
Q2 2011 32.63 32.63 2.37
Q3 2011 21.63 21.63 2.43
Q4 2011 34.77 34.77 3.10
Q1 2012 44.88 44.88 3.45
Q2 2012 34.53 34.53 2.34
Q3 2012 68.00 68.00 2.83
Q4 2012 More than 100 83.98 2.98
Q1 2013 More than 100 More than 100 3.30
Q2 2013 More than 100 More than 100 3.92
Q3 2013 NEG NEG 3.49
Q4 2013 NEG NEG 3.48
Q1 2014 NEG NEG 3.58
Q2 2014 NEG NEG 4.03
Q3 2014 NEG NEG 4.29
Q4 2014 More than 100 More than 100 2.50
Q1 2015 91.17 91.17 1.49
Q2 2015 94.02 94.02 1.49
Q3 2015 66.76 66.76 1.07


Financial Ratios
Current
Market Cap (M Riyal) 701.93
Enterprise Value (EV) (M) 746.16
Shares Outstanding ((M)) 39.17
EPS ( Riyal) (TTM) 2.19
Book Value (BV) ( Riyal) 8.04
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) 8.18
Price/book 2.23
Return on Average Assets (%) (TTM) 17.5
Return on Average Equity (%) (TTM) 31.2
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Share Price

Tabuk Agricultural Development Co.
17.92
(0.18) (0.99 %)

Tabuk Agricultural Development Co. (TADCO)

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