Financial Results : Ash-Sharqiyah Development posts SAR 674,000 net profit in Q1-2015

Ash-Sharqiyah Development posts SAR 674,000 net profit in Q1-2015

16/04/2015 Argaam Exclusive

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Ash-Sharqiyah Development Co., a producer of agriculture and dairy products, reported a net profit of SAR 674,000 for first quarter, versus SAR 1.5 million losses recorded in the same period in 2014.

 

The company swung to profit in the first quarter due to several reasons, including a 26 percent rise in sales volumes, a 36 percent drop in operating expenses, higher prices of fodder and loose milk, and higher production.



Current Quarter Comparison (M)

Compared With The
Item Q1 2014 Q1 2015 Change‬
Revenues 4.25 5.38 26.4 %
Gross Income (0.26) 1.62 732.4 %
Operating Income (1.54) 0.06 103.8 %
Net Income (1.53) 0.67 144.0 %
Average Shares 19.65 19.65 -
Earnings Per Share before unusual items (Riyals) (0.08) 0.01 107.2 %
EPS (Riyals) (0.08) 0.03 144.0 %


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2006 9.50 7.5 % (1.69) (38.0 %) (2.58) (22.8 %)
Q2 2006 13.25 (1.3 %) 4.53 120.2 % 3.66 251.8 %
Q3 2006 16.85 22.0 % 7.25 176.4 % 5.82 246.5 %
Q4 2006 13.62 (29.9 %) (0.05) (101.1 %) (1.45) (183.8 %)
Q1 2007 9.25 (2.6 %) (2.17) (28.4 %) (2.91) (12.9 %)
Q2 2007 10.14 (23.5 %) 1.58 (65.2 %) 0.36 (90.2 %)
Q3 2007 10.55 (37.4 %) 3.42 (52.8 %) 2.36 (59.4 %)
Q4 2007 24.35 78.9 % 6.15 13178.7 % 4.05 378.5 %
Q1 2008 13.43 45.1 % (1.05) 51.7 % (2.18) 25.0 %
Q2 2008 10.58 4.3 % 3.06 93.7 % 1.06 194.7 %
Q3 2008 14.29 35.4 % 1.74 (49.1 %) 0.06 (97.3 %)
Q4 2008 13.03 (46.5 %) (6.06) (198.5 %) (10.05) (348.2 %)
Q1 2009 8.93 (33.5 %) 0.63 160.0 % (0.56) 74.2 %
Q2 2009 8.99 (15.0 %) 1.69 (44.5 %) 0.20 (81.0 %)
Q3 2009 7.49 (47.6 %) (0.40) (122.9 %) (1.46) (2384.4 %)
Q4 2009 6.83 (47.6 %) (0.37) 93.9 % (2.25) 77.6 %
Q1 2010 8.61 (3.6 %) (1.71) (371.9 %) (3.04) (440.9 %)
Q2 2010 9.66 7.5 % 0.86 (49.2 %) (0.33) (263.0 %)
Q3 2010 7.60 1.4 % 1.51 479.4 % 0.24 116.6 %
Q4 2010 9.56 40.1 % (0.66) (77.8 %) (2.12) 5.9 %
Q1 2011 9.05 5.1 % 0.67 139.2 % (0.62) 79.7 %
Q2 2011 9.98 3.3 % 0.15 (82.8 %) (1.10) (235.9 %)
Q3 2011 4.44 (41.6 %) (1.38) (191.1 %) (2.51) (1132.5 %)
Q4 2011 5.72 (40.2 %) (2.13) (223.9 %) (4.61) (117.7 %)
Q1 2012 7.79 (13.9 %) (2.51) (474.0 %) (3.45) (458.9 %)
Q2 2012 7.32 (26.7 %) (0.86) (680.4 %) (2.41) (120.4 %)
Q3 2012 4.72 6.3 % (0.92) 33.5 % (1.94) 22.7 %
Q4 2012 0.72 (87.3 %) 0.69 132.1 % (1.05) 77.3 %
Q1 2013 5.22 (33.0 %) (1.79) 28.5 % (2.57) 25.7 %
Q2 2013 4.81 (34.3 %) (0.02) 97.6 % (1.29) 46.7 %
Q3 2013 3.85 (18.4 %) (0.05) 94.4 % (1.52) 21.8 %
Q4 2013 3.76 419.1 % (0.82) (219.0 %) (2.42) (130.9 %)
Q1 2014 4.25 (18.5 %) (0.26) 85.7 % (1.54) 40.1 %
Q2 2014 4.36 (9.3 %) (0.38) (1,709.5 %) (1.43) (10.9 %)
Q3 2014 4.00 3.9 % 0.36 798.0 % (0.93) 38.7 %
Q4 2014 6.80 81.0 % 1.11 236.7 % (0.41) 82.9 %
Q1 2015 5.38 26.4 % 1.62 732.4 % 0.06 103.8 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items Earnings Per Share before unusual items
Q1 2006 (1.87) (126.9 %) (0.09) - (1.87) (0.09)
Q2 2006 1.63 (74.3 %) 0.08 - 1.63 0.08
Q3 2006 4.61 126.9 % 0.23 - 4.61 0.23
Q4 2006 (3.88) (232.3 %) (0.20) - (3.88) (0.20)
Q1 2007 (3.06) (64.0 %) (0.16) - (3.06) (0.16)
Q2 2007 (0.08) (105.1 %) 0.00 - (0.08) 0.00
Q3 2007 2.15 (53.3 %) 0.11 - 2.15 0.11
Q4 2007 3.53 191.0 % 0.18 - 3.53 0.18
Q1 2008 (2.48) 18.9 % (0.13) - (2.48) (0.13)
Q2 2008 (0.89) (966.3 %) (0.05) - (0.89) (0.05)
Q3 2008 (0.43) (119.9 %) (0.02) - (0.43) (0.02)
Q4 2008 (8.65) (344.8 %) (0.44) - (8.65) (0.44)
Q1 2009 (0.80) 67.9 % (0.04) - (0.80) (0.04)
Q2 2009 (0.10) 88.2 % (0.01) - (0.10) (0.01)
Q3 2009 (1.97) (359.0 %) (0.10) - (1.97) (0.10)
Q4 2009 (1.94) 77.6 % (0.10) - (1.94) (0.10)
Q1 2010 (3.02) (279.6 %) (0.15) - (3.02) (0.15)
Q2 2010 (0.27) (163.5 %) (0.01) - (0.27) (0.01)
Q3 2010 0.31 115.5 % 0.02 - 0.31 0.02
Q4 2010 (2.10) (8.3 %) (0.11) - (2.10) (0.11)
Q1 2011 0.27 109.0 % 0.01 - 0.27 0.01
Q2 2011 (1.07) (291.6 %) (0.05) - (1.07) (0.05)
Q3 2011 (2.46) (906.6 %) (0.13) - (2.46) (0.13)
Q4 2011 (5.95) (182.8 %) (0.30) - (5.95) (0.30)
Q1 2012 2.59 848.4 % 0.13 - 2.59 0.13
Q2 2012 (2.39) (122.7 %) (0.12) - (2.39) (0.12)
Q3 2012 (1.85) 24.6 % (0.09) - (1.85) (0.09)
Q4 2012 (1.71) 71.2 % (0.09) 5.29 (7.00) (0.36)
Q1 2013 (1.76) (168.0 %) (0.09) - (1.76) (0.09)
Q2 2013 (1.35) 43.5 % (0.07) (0.07) (1.28) (0.07)
Q3 2013 (1.52) 18.2 % (0.08) - (1.52) (0.08)
Q4 2013 (0.94) 44.9 % (0.05) (0.69) (0.26) (0.01)
Q1 2014 (1.53) 12.9 % (0.08) - (1.53) (0.08)
Q2 2014 (0.96) 29.2 % (0.05) - (0.96) (0.05)
Q3 2014 (0.20) 87.1 % (0.01) 0.19 (0.39) (0.02)
Q4 2014 0.22 122.8 % 0.01 0.53 (0.31) (0.02)
Q1 2015 0.67 144.0 % 0.03 0.56 0.11 0.01

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2006 12.83 % 23.10 % 16.83 %
Q2 2006 17.29 % 35.85 % 8.45 %
Q3 2006 24.24 % 41.38 % 12.39 %
Q4 2006 18.87 % 38.93 % 0.93 %
Q1 2007 18.05 % 32.54 % (1.32 %)
Q2 2007 13.26 % 36.69 % (4.84 %)
Q3 2007 6.38 % 32.85 % (11.18 %)
Q4 2007 16.52 % 44.79 % 4.69 %
Q1 2008 17.26 % 42.08 % 5.34 %
Q2 2008 19.65 % 27.78 % 3.94 %
Q3 2008 15.79 % 27.39 % (0.42 %)
Q4 2008 (4.50 %) 40.90 % (24.25 %)
Q1 2009 (1.35 %) 51.07 % (22.98 %)
Q2 2009 (4.40 %) 53.86 % (22.06 %)
Q3 2009 (10.75 %) 53.10 % (29.97 %)
Q4 2009 4.82 % 20.29 % (14.92 %)
Q1 2010 (2.46 %) 15.69 % (22.05 %)
Q2 2010 (4.97 %) 12.26 % (22.11 %)
Q3 2010 0.90 % 17.50 % (15.08 %)
Q4 2010 0.02 % 18.31 % (14.38 %)
Q1 2011 6.66 % 23.05 % (5.02 %)
Q2 2011 4.63 % 23.66 % (7.18 %)
Q3 2011 (3.69 %) 15.39 % (16.24 %)
Q4 2011 (9.23 %) 8.39 % (31.54 %)
Q1 2012 (21.01 %) (3.09 %) (24.67 %)
Q2 2012 (27.22 %) (12.99 %) (32.49 %)
Q3 2012 (25.11 %) (7.97 %) (29.76 %)
Q4 2012 (17.51 %) 3.30 % (42.11 %)
Q1 2013 (16.04 %) 8.30 % (72.32 %)
Q2 2013 (13.22 %) 10.41 % (76.86 %)
Q3 2013 (8.07 %) 19.66 % (79.13 %)
Q4 2013 (15.19 %) 8.06 % (27.29 %)
Q1 2014 (6.86 %) 13.52 % (27.51 %)
Q2 2014 (9.26 %) 16.90 % (26.28 %)
Q3 2014 (6.69 %) 6.58 % (19.15 %)
Q4 2014 4.29 % 19.21 % (16.44 %)
Q1 2015 13.19 % 24.91 % (7.55 %)


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Earnings Per Share before unusual items (Riyal) Book Value (BV)
Q1 2006 19.65 0.48 0.48 5.66
Q2 2006 19.65 0.24 0.24 5.74
Q3 2006 19.65 0.37 0.37 5.98
Q4 2006 19.65 0.03 0.03 5.78
Q1 2007 19.65 (0.04) (0.04) 5.62
Q2 2007 19.65 (0.12) (0.12) 5.62
Q3 2007 19.65 (0.25) (0.25) 5.73
Q4 2007 19.65 0.13 0.13 5.91
Q1 2008 19.65 0.16 0.16 5.78
Q2 2008 19.65 0.12 0.12 5.74
Q3 2008 19.65 (0.01) (0.01) 5.71
Q4 2008 19.65 (0.63) (0.63) 5.27
Q1 2009 19.65 (0.55) (0.55) 4.51
Q2 2009 19.65 (0.51) (0.51) 4.51
Q3 2009 19.65 (0.59) (0.59) 4.41
Q4 2009 19.65 (0.24) (0.24) 4.31
Q1 2010 19.65 (0.36) (0.36) 4.15
Q2 2010 19.65 (0.37) (0.37) 4.14
Q3 2010 19.65 (0.25) (0.25) 4.16
Q4 2010 19.65 (0.26) (0.26) 4.05
Q1 2011 19.65 (0.09) (0.09) 4.06
Q2 2011 19.65 (0.13) (0.13) 4.01
Q3 2011 19.65 (0.27) (0.27) 3.88
Q4 2011 19.65 (0.47) (0.47) 3.58
Q1 2012 19.65 (0.35) (0.35) 3.71
Q2 2012 19.65 (0.42) (0.42) 3.59
Q3 2012 19.65 (0.39) (0.39) 3.50
Q4 2012 19.65 (0.17) (0.44) 3.41
Q1 2013 19.65 (0.39) (0.66) 3.32
Q2 2013 19.65 (0.34) (0.61) 3.25
Q3 2013 19.65 (0.32) (0.59) 3.17
Q4 2013 19.65 (0.28) (0.24) 3.12
Q1 2014 19.65 (0.27) (0.23) 3.05
Q2 2014 19.65 (0.25) (0.22) 3.00
Q3 2014 19.65 (0.18) (0.16) 2.99
Q4 2014 19.65 (0.13) (0.16) 3.00
Q1 2015 19.65 (0.01) (0.08) 3.03

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2006 80.49 80.49 6.84
Q2 2006 More than 100 More than 100 11.96
Q3 2006 More than 100 More than 100 14.68
Q4 2006 More than 100 More than 100 5.65
Q1 2007 NEG NEG 8.19
Q2 2007 NEG NEG 6.82
Q3 2007 NEG NEG 7.15
Q4 2007 More than 100 More than 100 6.31
Q1 2008 More than 100 More than 100 3.98
Q2 2008 More than 100 More than 100 3.91
Q3 2008 NEG NEG 1.87
Q4 2008 NEG NEG 1.97
Q1 2009 NEG NEG 3.00
Q2 2009 NEG NEG 6.89
Q3 2009 NEG NEG 6.51
Q4 2009 NEG NEG 5.13
Q1 2010 NEG NEG 4.95
Q2 2010 NEG NEG 4.91
Q3 2010 NEG NEG 5.01
Q4 2010 NEG NEG 5.74
Q1 2011 NEG NEG 5.62
Q2 2011 NEG NEG 5.29
Q3 2011 NEG NEG 6.40
Q4 2011 NEG NEG 13.31
Q1 2012 NEG NEG 8.91
Q2 2012 NEG NEG 7.01
Q3 2012 NEG NEG 8.55
Q4 2012 NEG NEG 9.92
Q1 2013 NEG NEG 9.84
Q2 2013 NEG NEG 10.58
Q3 2013 NEG NEG 11.99
Q4 2013 NEG NEG 10.31
Q1 2014 NEG NEG 12.20
Q2 2014 NEG NEG 15.45
Q3 2014 NEG NEG 21.44
Q4 2014 NEG NEG 14.15
Q1 2015 NEG NEG 13.54


Financial Ratios
Current
Market Cap (M Riyal) 675.60
Enterprise Value (EV) (M) 498.05
Shares Outstanding ((M)) 30.00
EPS ( Riyal) (TTM) 0.35
Book Value (BV) ( Riyal) 12.49
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) More than 100
P/E (TTM) More than 100
Price/book 1.80
Return on Average Assets (%) (TTM) 2.5
Return on Average Equity (%) (TTM) 2.9
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Share Price

Ash-Sharqiyah Development Co.
22.52
0.90 4.16 %

Ash-Sharqiyah Development Co. (SHARQIYAH DEV)

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