Financial Results : L’Azurde’s net profit drops 26% in FY16

L’Azurde’s net profit drops 26% in FY16

18/01/2017 Argaam Exclusive

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L’Azurde Company for Jewelry reported a net profit of SAR 74.6 million for fiscal year 2016, a 26 percent year-on-year (YoY) drop on lower operating revenue and operating income.

 

The jeweler’s operating costs for the year also increased, along with higher selling and marketing expenses in Q4. 



Financials (M)

Item 2015 2016 Change‬
Revenues 2,814.20 2,018.30 (28.3 %)
Gross Income 339.33 244.54 (27.9 %)
Operating Income 149.48 68.00 (54.5 %)
Net Income 100.57 71.95 (28.5 %)
Average Shares 50.51 50.51 -
EPS (Riyals) 1.99 1.42 (28.5 %)

Net profit for fourth quarter slumped 86 percent YoY to SAR 1.6 million also due to lower operating revenues.

 

Q4 profit more than tripled quarter-on-quarter, boosted by a “one-off foreign currency gain largely offset by lower sales to reduce inventory at the retailers and working capital,” L’Azurde said.



Current Quarter Comparison (M)

Compared With The
Item Q4 2015 Q4 2016 Change‬
Revenues 440.85 176.24 (60.0 %)
Gross Income 55.87 12.84 (77.0 %)
Operating Income 28.25 (29.76) (205.4 %)
Net Income 11.84 (0.77) (106.5 %)
Average Shares 50.51 50.51 -
EPS (Riyals) 0.23 (0.02) (106.5 %)


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
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 - - - - - -
Q1 2015 937.68 - 111.85 - 52.19 -
Q2 2015 764.54 - 87.77 - 35.58 -
Q3 2015 671.13 - 83.84 - 33.46 -
Q4 2015 440.85 - 55.87 - 28.25 -
Q1 2016 883.55 (5.8 %) 117.33 4.9 % 52.88 1.3 %
Q2 2016 552.19 (27.8 %) 40.49 (53.9 %) 5.11 (85.6 %)
Q3 2016 406.33 (39.5 %) 73.89 (11.9 %) 39.77 18.9 %
Q4 2016 176.24 (60.0 %) 12.84 (77.0 %) (29.76) (205.4 %)
2016 2,018.30 (28.3 %) 244.54 (27.9 %) 68.00 (54.5 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO 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 - - - - - -
Q2 2013 - - - - - -
Q3 2013 - - - - - -
Q4 2013 - - - - - -
Q1 2014 - - - - - -
Q2 2014 - - - - - -
Q3 2014 - - - - - -
Q4 2014 - - - - - -
Q1 2015 41.25 - 0.82 - 41.25 0.82
Q2 2015 22.50 - 0.45 - 22.50 0.45
Q3 2015 24.98 - 0.49 - 24.98 0.49
Q4 2015 11.84 - 0.23 - 11.84 0.23
Q1 2016 51.01 23.7 % 1.01 - 51.01 1.01
Q2 2016 (7.04) (131.3 %) (0.14) - (7.04) (0.14)
Q3 2016 28.75 15.1 % 0.57 - 28.75 0.57
Q4 2016 (0.77) (106.5 %) (0.02) 44.22 (44.98) (0.89)
2016 71.95 (28.5 %) 1.42 44.22 27.74 0.55

Profitability

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 - - -
Q2 2013 - - -
Q3 2013 - - -
Q4 2013 - - -
Q1 2014 - - -
Q2 2014 - - -
Q3 2014 - - -
Q4 2014 - - -
Q1 2015 - - -
Q2 2015 - - -
Q3 2015 - - -
Q4 2015 12.06 % 5.66 % 3.57 %
Q1 2016 12.49 % 5.81 % 4.00 %
Q2 2016 11.68 % 5.11 % 3.17 %
Q3 2016 12.60 % 5.99 % 3.70 %
Q4 2016 12.12 % 3.89 % 1.37 %
2016 12.12 % 3.89 % 1.37 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) 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 - - - 6.93
Q1 2012 - - - -
Q2 2012 - - - -
Q3 2012 - - - -
Q4 2012 - - - 7.88
Q1 2013 - - - -
Q2 2013 - - - -
Q3 2013 - - - -
Q4 2013 - - - 9.23
Q1 2014 - - - -
Q2 2014 - - - -
Q3 2014 - - - -
Q4 2014 - - - 9.57
Q1 2015 50.51 - - 10.13
Q2 2015 50.51 - - 9.73
Q3 2015 50.51 - - 10.12
Q4 2015 50.51 1.99 1.99 9.72
Q1 2016 50.51 2.18 2.18 9.62
Q2 2016 50.51 1.60 1.60 9.48
Q3 2016 50.51 1.67 1.67 10.07
Q4 2016 50.51 1.42 0.55 7.97

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 - - -
Q1 2015 - - -
Q2 2015 - - -
Q3 2015 - - -
Q4 2015 - - -
Q1 2016 - - -
Q2 2016 22.70 22.70 3.83
Q3 2016 12.15 12.15 2.02
Q4 2016 14.72 38.19 2.63

Business Segments (Million)

Compared With The
Period Wholesale sector Retail sector
Q3 2014 607.97 15.45
Q4 2014 467.30 15.74
Q1 2015 914.24 23.44
Q2 2015 743.57 20.98
Q3 2015 649.49 21.63
Q4 2015 422.71 18.14
Q1 2016 857.85 25.70
Q2 2016 531.37 20.82
Q3 2016 390.73 15.60
Q4 2016 155.77 20.48

Current
Market Cap (M Riyal) 770.50
Enterprise Value (EV) (M) 2,026.85
Shares Outstanding ((M)) 57.50
EPS ( Riyal) (TTM) 0.21
Book Value (BV) ( Riyal) 5.24
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) More than 100
P/E (TTM) More than 100
Price/book 2.56
Return on Average Assets (%) (TTM) 0.7
Return on Average Equity (%) (TTM) 3.6

Share Price

13.40
(0.06) (0.45 %)

Lazurde Company for Jewelry (LAZURDE)


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