Electrical Industries net profit plunges 47% in 9M 2016

19/10/2016 Argaam Exclusive

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Electrical Industries Co.’s (EIC) net profit for the first nine months of 2016 fell 47 percent year-on-year to SAR 30.6 million on lower selling prices due to an increase in competition, and a decline in raw material prices. Higher costs of sales, and general and administrative expenses also weighed on earnings.

Financials (M)

Item	9m 2015	9m 2016	Change‬
Revenues	588.29	661.01	12.4 %
Gross Income	110.60	101.54	(8.2 %)
Operating Income	60.46	39.14	(35.3 %)
Net Income	58.22	29.71	(49.0 %)
Average Shares	1,125.00	1,125.00	-
EPS (Halala)	5.17	2.64	(49.0 %)

Net profit for the third quarter rose 7.7 percent YoY to SAR 10.2 million as sales grew. Q3 profit, however, was lower by 2.8 percent compared to the previous quarter.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2015	Q3 2016	Change‬
Revenues	191.27	206.32	7.9 %
Gross Income	32.86	36.91	12.4 %
Operating Income	14.23	15.59	9.6 %
Net Income	9.47	10.49	10.8 %
Average Shares	1,125.00	1,125.00	-
EPS (Halala)	0.84	0.93	10.8 %

Item	Q2 2016	Q3 2016	Change‬
Revenues	233.85	206.32	(11.8 %)
Gross Income	28.90	36.91	27.8 %
Operating Income	8.46	15.59	84.2 %
Net Income	9.78	10.49	7.3 %
Average Shares	1,125.00	1,125.00	-
EPS (Halala)	0.87	0.93	7.3 %

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
Q1 2007	-	-	-	-	-	-
Q2 2007	-	-	-	-	-	-
Q3 2007	-	-	-	-	-	-
Q4 2007	-	-	-	-	-	-
2007	-	-	-	-	-	-
Q1 2008	-	-	-	-	-	-
Q2 2008	-	-	-	-	-	-
Q3 2008	-	-	-	-	-	-
Q4 2008	-	-	-	-	-	-
2008	-	-	-	-	-	-
Q1 2009	-	-	-	-	-	-
Q2 2009	-	-	-	-	-	-
Q3 2009	-	-	-	-	-	-
Q4 2009	-	-	-	-	-	-
2009	-	-	-	-	-	-
Q1 2010	-	-	-	-	-	-
Q2 2010	-	-	-	-	-	-
Q3 2010	-	-	-	-	-	-
Q4 2010	-	-	-	-	-	-
2010	981.41	-	230.82	-	171.10	-
Q1 2011	-	-	-	-	-	-
Q2 2011	-	-	-	-	-	-
Q3 2011	-	-	-	-	-	-
Q4 2011	-	-	-	-	-	-
2011	962.09	(2.0 %)	199.22	(13.7 %)	131.69	(23.0 %)
Q1 2012	-	-	-	-	-	-
Q2 2012	-	-	-	-	-	-
Q3 2012	-	-	-	-	-	-
Q4 2012	-	-	-	-	-	-
2012	1,062.70	10.5 %	199.55	0.2 %	122.74	(6.8 %)
Q1 2013	305.08	-	75.09	-	54.71	-
Q2 2013	338.91	-	53.30	-	32.19	-
Q3 2013	269.85	-	44.06	-	26.29	-
Q4 2013	371.41	-	93.81	-	67.98	-
2013	1,285.26	20.9 %	266.26	33.4 %	181.16	47.6 %
Q1 2014	346.75	13.7 %	79.63	6.0 %	55.64	1.7 %
Q2 2014	305.29	(9.9 %)	72.48	36.0 %	50.89	58.1 %
Q3 2014	164.51	(39.0 %)	32.38	(26.5 %)	15.64	(40.5 %)
Q4 2014	230.30	(38.0 %)	67.16	(28.4 %)	50.16	(26.2 %)
2014	1,046.86	(18.5 %)	251.64	(5.5 %)	172.33	(4.9 %)
Q1 2015	200.41	(42.2 %)	39.30	(50.6 %)	22.74	(59.1 %)
Q2 2015	196.60	(35.6 %)	38.45	(47.0 %)	23.49	(53.8 %)
Q3 2015	191.27	16.3 %	32.86	1.5 %	14.23	(9.0 %)
Q4 2015	240.95	4.6 %	33.81	(49.7 %)	12.70	(74.7 %)
2015	829.24	(20.8 %)	143.84	(42.8 %)	72.94	(57.7 %)
Q1 2016	220.84	10.2 %	35.73	(9.1 %)	15.08	(33.7 %)
Q2 2016	233.85	18.9 %	28.90	(24.8 %)	8.46	(64.0 %)
Q3 2016	206.32	7.9 %	36.91	12.4 %	15.59	9.6 %

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2006	-	-	-	-	-	-
2007	-	-	-	-	-	-
2008	-	-	-	-	-	-
2009	-	-	-	-	-	-
2010	981.41	-	230.82	-	171.10	-
2011	962.09	(2.0 %)	199.22	(13.7 %)	131.69	(23.0 %)
2012	1,062.70	10.5 %	199.55	0.2 %	122.74	(6.8 %)
2013	1,285.26	20.9 %	266.26	33.4 %	181.16	47.6 %
2014	1,046.86	(18.5 %)	251.64	(5.5 %)	172.33	(4.9 %)
2015	829.24	(20.8 %)	143.84	(42.8 %)	72.94	(57.7 %)

Profit Performance (Million)

Period	Net Income	Change	EPS(Halala)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
Q1 2007	-	-	-	-	-	-
Q2 2007	-	-	-	-	-	-
Q3 2007	-	-	-	-	-	-
Q4 2007	-	-	-	-	-	-
2007	-	-	-	-	-	-
Q1 2008	-	-	-	-	-	-
Q2 2008	-	-	-	-	-	-
Q3 2008	-	-	-	-	-	-
Q4 2008	-	-	-	-	-	-
2008	-	-	-	-	-	-
Q1 2009	-	-	-	-	-	-
Q2 2009	-	-	-	-	-	-
Q3 2009	-	-	-	-	-	-
Q4 2009	-	-	-	-	-	-
2009	-	-	-	-	-	-
Q1 2010	-	-	-	-	-	-
Q2 2010	-	-	-	-	-	-
Q3 2010	-	-	-	-	-	-
Q4 2010	-	-	-	-	-	-
2010	151.41	-	13.46	-	151.41	0.13
Q1 2011	-	-	-	-	-	-
Q2 2011	-	-	-	-	-	-
Q3 2011	-	-	-	-	-	-
Q4 2011	-	-	-	-	-	-
2011	113.70	(24.9 %)	10.11	-	113.70	0.10
Q1 2012	-	-	-	-	-	-
Q2 2012	-	-	-	-	-	-
Q3 2012	-	-	-	-	-	-
Q4 2012	-	-	-	-	-	-
2012	108.15	(4.9 %)	9.61	-	108.15	0.10
Q1 2013	50.37	-	4.48	-	50.37	0.04
Q2 2013	27.13	-	2.41	-	27.13	0.02
Q3 2013	22.35	-	1.99	-	22.35	0.02
Q4 2013	66.11	-	5.88	-	66.11	0.06
2013	165.96	53.5 %	14.75	-	165.96	0.15
Q1 2014	55.49	10.2 %	4.93	0.71	54.78	0.05
Q2 2014	44.67	64.7 %	3.97	2.28	42.39	0.04
Q3 2014	12.71	(43.1 %)	1.13	(9.26)	21.97	0.02
Q4 2014	58.99	(10.8 %)	5.24	12.90	46.09	0.04
2014	171.86	3.6 %	15.28	6.63	165.23	0.15
Q1 2015	28.79	(48.1 %)	2.56	6.58	22.22	0.02
Q2 2015	19.96	(55.3 %)	1.77	2.96	17.00	0.02
Q3 2015	9.47	(25.5 %)	0.84	(0.27)	9.74	0.01
Q4 2015	12.14	(79.4 %)	1.08	1.50	10.64	0.01
2015	70.36	(59.1 %)	6.25	10.77	59.60	0.05
Q1 2016	9.44	(67.2 %)	0.84	-	9.44	0.01
Q2 2016	9.78	(51.0 %)	0.87	-	9.78	0.01
Q3 2016	10.49	10.8 %	0.93	-	10.49	0.01

Period	Net Income	Change	EPS(Halala)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2006	-	-	-	-	-	-
2007	-	-	-	-	-	-
2008	-	-	-	-	-	-
2009	-	-	-	-	-	-
2010	151.41	-	13.46	-	151.41	0.13
2011	113.70	(24.9 %)	10.11	-	113.70	0.10
2012	108.15	(4.9 %)	9.61	-	108.15	0.10
2013	165.96	53.5 %	14.75	-	165.96	0.15
2014	171.86	3.6 %	15.28	6.63	165.23	0.15
2015	70.36	(59.1 %)	6.25	10.77	59.60	0.05

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2007	-	-	-
Q2 2007	-	-	-
Q3 2007	-	-	-
Q4 2007	-	-	-
2007	-	-	-
Q1 2008	-	-	-
Q2 2008	-	-	-
Q3 2008	-	-	-
Q4 2008	-	-	-
2008	-	-	-
Q1 2009	-	-	-
Q2 2009	-	-	-
Q3 2009	-	-	-
Q4 2009	-	-	-
2009	-	-	-
Q1 2010	-	-	-
Q2 2010	-	-	-
Q3 2010	-	-	-
Q4 2010	-	-	-
2010	23.52 %	19.00 %	15.43 %
Q1 2011	-	-	-
Q2 2011	-	-	-
Q3 2011	-	-	-
Q4 2011	-	-	-
2011	20.71 %	15.30 %	11.82 %
Q1 2012	-	-	-
Q2 2012	-	-	-
Q3 2012	-	-	-
Q4 2012	-	-	-
2012	18.78 %	12.96 %	10.18 %
Q1 2013	-	-	-
Q2 2013	-	-	-
Q3 2013	-	-	-
Q4 2013	20.72 %	15.68 %	12.91 %
2013	20.72 %	15.68 %	12.91 %
Q1 2014	20.41 %	15.37 %	12.84 %
Q2 2014	22.42 %	17.41 %	14.35 %
Q3 2014	23.43 %	17.69 %	15.59 %
Q4 2014	24.04 %	18.85 %	15.78 %
2014	24.04 %	18.85 %	15.78 %
Q1 2015	23.47 %	18.36 %	14.73 %
Q2 2015	22.39 %	17.56 %	13.55 %
Q3 2015	21.72 %	16.86 %	11.61 %
Q4 2015	17.41 %	12.27 %	7.19 %
2015	17.35 %	12.25 %	7.19 %
Q1 2016	16.58 %	11.26 %	5.51 %
Q2 2016	14.80 %	9.00 %	4.47 %
Q3 2016	15.01 %	8.63 %	4.47 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2006	-	-	-
2007	-	-	-
2008	-	-	-
2009	-	-	-
2010	23.52 %	19.00 %	15.43 %
2011	20.71 %	15.30 %	11.82 %
2012	18.78 %	12.96 %	10.18 %
2013	20.72 %	15.68 %	12.91 %
2014	24.04 %	18.85 %	15.78 %
2015	17.35 %	12.25 %	7.19 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
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	24.61 %	19.37 %	16.51 %
Q2 2013	15.73 %	10.55 %	8.00 %
Q3 2013	16.33 %	13.83 %	8.28 %
Q4 2013	25.26 %	18.66 %	17.80 %
Q1 2014	22.96 %	17.76 %	15.80 %
Q2 2014	23.74 %	18.67 %	13.89 %
Q3 2014	19.68 %	13.50 %	13.36 %
Q4 2014	29.16 %	24.56 %	20.01 %
Q1 2015	19.61 %	14.74 %	11.09 %
Q2 2015	19.56 %	15.64 %	8.64 %
Q3 2015	17.18 %	11.04 %	5.09 %
Q4 2015	14.03 %	8.46 %	4.42 %
Q1 2016	16.18 %	10.59 %	4.28 %
Q2 2016	12.36 %	6.38 %	4.18 %
Q3 2016	17.89 %	9.29 %	5.08 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Halala)	Adjusted EPS (Halala)	Book Value (BV)
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	1,125.00	-	-	0.48
Q2 2013	1,125.00	-	-	0.46
Q3 2013	1,125.00	-	-	0.48
Q4 2013	1,125.00	14.75	14.75	0.48
Q1 2014	1,125.00	15.21	15.14	0.53
Q2 2014	1,125.00	16.77	16.50	0.49
Q3 2014	1,125.00	15.91	16.47	0.50
Q4 2014	1,125.00	15.28	14.69	0.56
Q1 2015	1,125.00	12.90	11.79	0.58
Q2 2015	1,125.00	10.71	9.54	0.54
Q3 2015	1,125.00	10.42	8.45	0.55
Q4 2015	1,125.00	6.25	5.30	0.54
Q1 2016	1,125.00	4.53	4.16	0.54
Q2 2016	1,125.00	3.63	3.52	0.55
Q3 2016	1,125.00	3.72	3.59	0.56

Period	Shares Outstanding (M)	EPS (Halala)	Adjusted EPS (Halala)	Book Value (BV)
2006	-	-	-	-
2007	-	-	-	-
2008	-	-	-	-
2009	-	-	-	-
2010	1,125.00	13.46	13.46	0.44
2011	1,125.00	10.11	10.11	0.46
2012	1,125.00	9.61	9.61	0.44
2013	1,125.00	14.75	14.75	0.48
2014	1,125.00	15.28	14.69	0.56
2015	1,125.00	6.25	5.30	0.54

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
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	-	-	-
Q2 2013	-	-	-
Q3 2013	-	-	-
Q4 2013	-	-	-
Q1 2014	-	-	-
Q2 2014	-	-	-
Q3 2014	-	-	-
Q4 2014	14.57	15.16	4.00
Q1 2015	17.70	19.36	3.92
Q2 2015	20.77	23.32	4.12
Q3 2015	15.94	19.65	3.03
Q4 2015	21.69	25.60	2.52
Q1 2016	21.72	23.67	1.83
Q2 2016	28.18	29.05	1.87
Q3 2016	19.31	20.02	1.29

Period	P/E	Adjusted P/E	Price/book
2006	-	-	-
2007	-	-	-
2008	-	-	-
2009	-	-	-
2010	-	-	-
2011	-	-	-
2012	-	-	-
2013	-	-	-
2014	14.57	15.16	4.00
2015	21.69	25.60	2.52

Business Segments (Million)

Compared With The

Period	Manufacturing sector	services segment
Q1 2013	293.58	11.50
Q4 2013	353.76	17.65
Q1 2014	330.07	16.68
Q2 2014	290.20	15.09
Q3 2014	149.70	14.82
Q4 2014	208.78	21.52
Q1 2015	179.38	21.03
Q2 2015	182.40	14.20
Q3 2015	181.75	9.53
Q4 2015	221.18	19.77
Q1 2016	206.90	13.93
Q2 2016	219.92	13.94
Q3 2016	193.20	13.12

Period	Manufacturing sector	services segment
2010	942.08	39.33
2011	924.73	37.36
2012	1,013.70	49.00
2013	1,228.52	56.73
2014	978.75	68.11
2015	764.71	64.53

Analysts Estimates (Million)

Item	Q3 2016 (e)	Q3 2016 (a)	Change‬
Average	7.30	10.49	43.67 %

Estimates vs Actual (Million)

Item	Q3 2016 (e)	Q3 2016 (a)	Change
OSOOL AND BAKHEET	7.30	10.49	43.7 %

Financial Ratios

	Current
Market Cap (M Riyal)	7,650.00
Enterprise Value (EV) (M)	7,815.35
Shares Outstanding ((M))	1,125.00
EPS (Halala) (TTM)	25.93
Book Value (BV) ( Riyal)	0.74
Par Value ( Halala)	50.00
Adjusted P/E (Last12)	23.57
P/E (TTM)	26.22
Price/book	9.17
Return on Average Assets (%) (TTM)	15.1
Return on Average Equity (%) (TTM)	37.6

Electrical Industries Co. (EIC)

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Electrical Industries net profit plunges 47% in 9M 2016

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) 2016 Q3

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

Share Price

Electrical Industries Co. (EIC)

Comments {{getCommentCount()}}

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Electrical Industries net profit plunges 47% in 9M 2016

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) Q3 2016

Revenue by Business Segment (Latest) 2016 Q3

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

Share Price

Electrical Industries Co. (EIC)

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Business Segments (Million)