SACO’s FY17 profit rises nearly 5% on higher sales
11/02/2018
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Saudi Company for Hardware (SACO) posted a net profit of SAR 134.9 million for fiscal year 2017, up 4.6 percent year-on-year (YoY) due to higher sales in most departments as the number of stores increased from 26 to 29.
SACO also noted additional revenues from logistics firm Medscan.
Financials (M)
| Item | 2016 | 2017 | Change |
|---|---|---|---|
| Revenues | 1,324.09 | 1,455.93 | 10.0 % |
| Gross Income | 260.60 | 284.68 | 9.2 % |
| Operating Income | 141.89 | 149.94 | 5.7 % |
| Net Income | 128.97 | 134.90 | 4.6 % |
| Average Shares | 36.00 | 36.00 | - |
| Earnings Per Share before unusual items (Riyals) | 3.58 | 3.75 | 4.6 % |
| EPS (Riyal) | 3.58 | 3.75 | 4.6 % |
Compared With The
Current Quarter Comparison (M)
| Item | Q4 2016 | Q4 2017 | Change |
|---|---|---|---|
| Revenues | 384.42 | 429.85 | 11.8 % |
| Gross Income | 75.76 | 84.88 | 12.0 % |
| Operating Income | 46.70 | 45.78 | (2.0 %) |
| Net Income | 42.14 | 40.99 | (2.7 %) |
| Average Shares | 36.00 | 36.00 | - |
| Earnings Per Share before unusual items (Riyal) | 1.17 | 1.14 | (2.7 %) |
| EPS (Riyal) | 1.17 | 1.14 | (2.7 %) |
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| Q1 2017 | 326.29 | 7.6 % | 62.01 | 2.1 % | 33.38 | 4.8 % |
| Q2 2017 | 376.33 | 7.1 % | 76.65 | 7.1 % | 43.53 | 9.3 % |
| Q3 2017 | 322.91 | 13.3 % | 61.14 | 16.5 % | 27.25 | 15.8 % |
| Q4 2017 | 429.85 | 11.8 % | 84.88 | 12.0 % | 45.78 | (2.0 %) |
| 2017 | 1,455.93 | 10.0 % | 284.68 | 9.2 % | 149.94 | 5.7 % |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS(Riyal) |
|---|---|---|---|---|---|---|
| Q1 2017 | 30.76 | 7.1 % | 0.85 | - | 30.76 | 0.85 |
| Q2 2017 | 40.36 | 8.9 % | 1.12 | - | 40.36 | 1.12 |
| Q3 2017 | 22.79 | 8.2 % | 0.63 | - | 22.79 | 0.63 |
| Q4 2017 | 40.99 | (2.7 %) | 1.14 | - | 40.99 | 1.14 |
| 2017 | 134.90 | 4.6 % | 3.75 | - | 134.90 | 3.75 |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| Q1 2016 | 19.97 % | 12.41 % | 9.17 % |
| Q2 2016 | 19.82 % | 12.49 % | 9.25 % |
| Q3 2016 | 19.58 % | 12.51 % | 9.30 % |
| Q4 2016 | 19.68 % | 13.01 % | 9.74 % |
| 2016 | 19.68 % | 13.01 % | 9.74 % |
| Q1 2017 | 19.44 % | 12.97 % | 9.72 % |
| Q2 2017 | 19.45 % | 13.13 % | 9.79 % |
| Q3 2017 | 19.54 % | 13.17 % | 9.65 % |
| Q4 2017 | 19.56 % | 12.92 % | 9.27 % |
| 2017 | 19.55 % | 12.91 % | 9.27 % |
Compared With The
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Earnings Per Share before unusual items (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| Q1 2017 | 36.00 | 3.64 | 3.64 | 14.93 |
| Q2 2017 | 36.00 | 3.73 | 3.73 | 16.05 |
| Q3 2017 | 36.00 | 3.78 | 3.78 | 15.51 |
| Q4 2017 | 36.00 | 3.75 | 3.75 | 16.65 |
Multiple Ratios (End of Period Price)
| Period | P/E | Recurring P/E | Price/book |
|---|---|---|---|
| Q1 2017 | 16.53 | 16.53 | 4.03 |
| Q2 2017 | 18.94 | 18.94 | 4.40 |
| Q3 2017 | 19.09 | 19.09 | 4.65 |
| Q4 2017 | 19.48 | 19.48 | 4.38 |
Business Segments (Million)
Q4 2017
| Period | Sales and Services | Logistics | Retail sector | Wholesale |
|---|---|---|---|---|
| Q1 2017 | 323.49 | 2.79 | - | - |
| Q2 2017 | 373.84 | 2.49 | - | - |
| Q3 2017 | 320.88 | 2.60 | - | - |
| Q4 2017 | 427.08 | 2.77 | - | - |
Analysts Estimates (Million)
| Item | Profit (Expected) | Profit (Actual) | Change |
|---|---|---|---|
| Average | 43.03 | 40.99 |
Estimates vs Actual (Million)
| Item | Profit (Expected) | Profit (Actual) | Change |
|---|---|---|---|
| Arbah Capital | 39.70 | 40.99 | |
| OSOOL AND BAKHEET | 44.60 | 40.99 | |
| AlJazira Capital | 44.80 | 40.99 |
| Current | |
| Market Cap (M Riyal) | 1,051.92 |
| Enterprise Value (EV) (M Riyal) | 1,151.90 |
| Shares Outstanding ((M)) | 36.00 |
| EPS ( Riyal) (TTM) | 1.47 |
| Book Value (BV) ( Riyal) | 10.43 |
| Par Value ( Riyal) | 10.00 |
| Recurring P/E | 55.68 |
| P/E (TTM) | 19.87 |
| Price/book | 2.80 |
| Return on Average Assets (%) (TTM) | 4.3 |
| Return on Average Equity (%) (TTM) | 15.2 |
| EV/adj EBITDA | - |
| EV/Revenues | 1.09 |
Share Price
Saudi Company for Hardware (SACO)
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