Saudi Company for Hardware (SACO) reported a net profit of SAR 97.88 million for the fiscal year of 2018, a 27.4 percent decline compared to the year before, on lower revenue and gross profit as well as higher general and administrative expenses and Zakat expense.
| Item | 2017 | 2018 | Change |
|---|---|---|---|
| Revenues | 1,455.93 | 1,390.47 | (4.5 %) |
| Gross Income | 284.68 | 249.91 | (12.2 %) |
| Operating Income | 149.94 | 112.36 | (25.1 %) |
| Net Income | 134.90 | 97.88 | (27.4 %) |
| Average Shares | 36.00 | 36.00 | - |
| EPS (Riyals) | 3.75 | 2.72 | (27.4 %) |
The company reported a net profit of SAR 38.48 million in Q4 2018, a 6.1 percent year-on-year drop due to lower revenue, higher general and administrative expenses, higher Zakat expense and lower other income.
When compared to previous quarter, net profit rose 57.5 percent attributed to higher revenue due to increase in the number of stores from 30 to 32 stores and the seasonality demand on winter products as well as the decrease in the selling and marketing expenses.
| Item | Q4 2017 | Q4 2018 | Change |
|---|---|---|---|
| Revenues | 429.85 | 385.61 | (10.3 %) |
| Gross Income | 84.88 | 76.72 | (9.6 %) |
| Operating Income | 45.78 | 42.87 | (6.4 %) |
| Net Income | 40.99 | 38.48 | (6.1 %) |
| Average Shares | 36.00 | 36.00 | - |
| EPS (Riyals) | 1.14 | 1.07 | (6.1 %) |
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| Q1 2018 | 321.67 | (1.4 %) | 53.81 | (13.2 %) | 17.55 | (47.4 %) |
| Q2 2018 | 343.03 | (8.8 %) | 54.94 | (28.3 %) | 24.14 | (44.5 %) |
| Q3 2018 | 340.17 | 5.3 % | 64.44 | 5.4 % | 27.80 | 2.0 % |
| Q4 2018 | 385.61 | (10.3 %) | 76.72 | (9.6 %) | 42.87 | (6.4 %) |
| 2018 | 1,390.47 | (4.5 %) | 249.91 | (12.2 %) | 112.36 | (25.1 %) |
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS Before XO Items |
|---|---|---|---|---|---|---|
| Q1 2018 | 14.59 | (52.6 %) | 0.41 | - | 14.59 | 0.41 |
| Q2 2018 | 20.38 | (49.5 %) | 0.57 | - | 20.38 | 0.57 |
| Q3 2018 | 24.43 | 7.2 % | 0.68 | - | 24.43 | 0.68 |
| Q4 2018 | 38.48 | (6.1 %) | 1.07 | - | 38.48 | 1.07 |
| 2018 | 97.88 | (27.4 %) | 2.72 | - | 97.88 | 2.72 |
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| Q1 2018 | 19.06 % | 12.03 % | 8.18 % |
| Q2 2018 | 17.97 % | 11.04 % | 6.97 % |
| Q3 2018 | 17.99 % | 11.02 % | 7.00 % |
| Q4 2018 | 17.97 % | 11.17 % | 7.04 % |
| 2018 | 17.97 % | 11.17 % | 7.04 % |
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| Q1 2018 | 36.00 | 3.30 | 3.30 | 15.99 |
| Q2 2018 | 36.00 | 2.74 | 2.74 | 16.55 |
| Q3 2018 | 36.00 | 2.79 | 2.79 | 16.57 |
| Q4 2018 | 36.00 | 2.72 | 2.72 | 17.63 |
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| Q1 2018 | 26.67 | 26.67 | 5.50 |
| Q2 2018 | 27.99 | 27.99 | 4.64 |
| Q3 2018 | 18.62 | 18.62 | 3.13 |
| Q4 2018 | 24.35 | 24.35 | 3.75 |
Q4 2018
| Period | Sales and Services | Logistics services | Retail sector | Wholesale sector |
|---|---|---|---|---|
| Q1 2018 | 317.69 | 3.98 | - | - |
| Q2 2018 | 341.65 | 1.37 | - | - |
| Q3 2018 | 337.70 | 2.47 | - | - |
| Q4 2018 | 382.79 | 2.82 | - | - |
| Item | Q4 2018 (e) | Q4 2018 (a) | Change |
|---|---|---|---|
| Average | 36.00 | 38.48 | 6.90 % |
| Item | Q4 2018 (e) | Q4 2018 (a) | Change |
|---|---|---|---|
| Sico | 36.00 | 38.48 | 6.9 % |
| Current | |
| Market Cap (M Riyal) | 1,263.60 |
| Enterprise Value (EV) (M) | 1,310.39 |
| Shares Outstanding ((M)) | 36.00 |
| EPS ( Riyal) (TTM) | (1.58) |
| Book Value (BV) ( Riyal) | 9.31 |
| Par Value ( Riyal) | 10.00 |
| Adjusted P/E (Last12) | Neg |
| P/E (TTM) | NEG |
| Price/book | 3.77 |
| Return on Average Assets (%) (TTM) | (4.58 ) |
| Return on Average Equity (%) (TTM) | (15.57 ) |
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