L’Azurde net profit drops 18% in 9M 2016
19/10/2016
Argaam Exclusive
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L’Azurde Company for Jewelry’s net profit for the first nine months of 2016 fell 17.8 percent year-on-year to SAR 72.98 million mainly due to a drop in consumer spending across all markets.
Financials (M)
| Item | 9m 2015 | 9m 2016 | Change |
|---|---|---|---|
| Revenues | 2,373.35 | 1,842.06 | (22.4 %) |
| Gross Income | 283.46 | 231.70 | (18.3 %) |
| Operating Income | 121.23 | 97.76 | (19.4 %) |
| Net Income | 88.73 | 72.72 | (18.0 %) |
| Average Shares | 50.51 | 50.51 | - |
| EPS (Riyals) | 1.76 | 1.44 | (18.0 %) |
Third-quarter net profit fell to SAR 338,000 from SAR 24.98 million in the same period last year and SAR 21.36 million in the previous quarter on lower consumer spending.
Compared With The
Current Quarter Comparison (M)
| Item | Q3 2015 | Q3 2016 | Change |
|---|---|---|---|
| Revenues | 671.13 | 406.33 | (39.5 %) |
| Gross Income | 83.84 | 73.89 | (11.9 %) |
| Operating Income | 33.46 | 39.77 | 18.9 % |
| Net Income | 24.98 | 28.75 | 15.1 % |
| Average Shares | 50.51 | 50.51 | - |
| EPS (Riyals) | 0.49 | 0.57 | 15.1 % |
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| 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 % |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS Before XO Items |
|---|---|---|---|---|---|---|
| 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 |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| Q1 2016 | 12.49 % | 5.81 % | 4.00 % |
| Q2 2016 | 11.68 % | 5.11 % | 3.17 % |
| Q3 2016 | 12.60 % | 5.99 % | 3.70 % |
Compared With The
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| 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 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| Q1 2016 | - | - | - |
| Q2 2016 | 22.70 | 22.70 | 3.83 |
| Q3 2016 | 12.15 | 12.15 | 2.02 |
Business Segments (Million)
Q3 2016
| Period | Wholesale sector | Retail sector |
|---|---|---|
| Q1 2016 | 857.85 | 25.70 |
| Q2 2016 | 531.37 | 20.82 |
| Q3 2016 | 390.73 | 15.60 |
| 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
Lazurde Company for Jewelry (LAZURDE)
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