Financial Results : Ash-Sharqiyah turns to profit at SAR 8.2 mln in nine-months 2015

Ash-Sharqiyah turns to profit at SAR 8.2 mln in nine-months 2015

18/10/2015 Argaam Exclusive

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Ash-Sharqiyah Development Co. swung to a net profit of SAR 8.2 million for the first nine months of 2015, compared to a loss of SAR 2.7 million in the same period last year due to higher sales and lower selling costs, as well as the sale of its stake in Taseel.



Financials (M)

Item 9m 2014 9m 2015 Change‬
Revenues 12.61 17.58 39.4 %
Gross Income 0.05 6.74 12624.5 %
Operating Income (3.90) 1.13 128.9 %
Net Income (2.69) 8.24 406.1 %
Average Shares 19.65 19.65 -
EPS (Riyals) (0.14) 0.42 406.1 %

 

Ash-Sharqiyah, which produces agricultural and dairy products, posted a net profit of SAR 561,771 in Q3 this year, compared to a net loss of SAR 196,215 in the same quarter last year. The company’s quarter-on-quarter net profit, however, plunged 92 percent from SAR 7 million in Q2-2015.



Current Quarter Comparison (M)

Compared With The
Item Q3 2014 Q3 2015 Change‬
Revenues 4.00 6.15 53.6 %
Gross Income 0.36 2.43 582.3 %
Operating Income (0.93) 0.56 160.2 %
Net Income (0.20) 0.56 386.7 %
Average Shares 19.65 19.65 -
EPS (Riyals) (0.01) 0.03 386.7 %


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 %
Q2 2015 6.06 38.9 % 2.70 809.5 % 0.51 135.6 %
Q3 2015 6.15 53.6 % 2.43 582.3 % 0.56 160.2 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO 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
Q2 2015 7.00 832.3 % 0.36 6.32 0.69 0.03
Q3 2015 0.56 386.7 % 0.03 - 0.56 0.03

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 %)
Q2 2015 26.01 % 31.22 % 0.41 %
Q3 2015 32.23 % 39.77 % 4.28 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (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
Q2 2015 19.65 0.39 0.00 3.39
Q3 2015 19.65 0.43 0.05 3.42

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
Q2 2015 More than 100 More than 100 13.72
Q3 2015 75.71 More than 100 9.53


Financial Ratios
Current
Market Cap (M Riyal) 579.00
Enterprise Value (EV) (M) 392.49
Shares Outstanding ((M)) 30.00
EPS ( Riyal) (TTM) 0.15
Book Value (BV) ( Riyal) 12.29
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) More than 100
P/E (TTM) More than 100
Price/book 1.57
Return on Average Assets (%) (TTM) 1.2
Return on Average Equity (%) (TTM) 1.3
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Share Price

Ash-Sharqiyah Development Co.
19.30
(0.24) (1.23 %)

Ash-Sharqiyah Development Co. (SHARQIYAH DEV)

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