Financial Results : Arab Sea turns to SAR 23 mln net loss in FY17

Arab Sea turns to SAR 23 mln net loss in FY17

26/03/2018 Argaam Exclusive

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Nomu-listed Arab Sea Information System Co. reported a net loss of SAR 22.5 million for the fiscal year 2017, compared to a net profit of SAR 5.4 million a year earlier, hurt by a drop of SAR 28.4 million in trade receivables.



Financials (M)

Item 2016 2017 Change‬
Revenues 51.78 49.41 (4.6 %)
Gross Income 19.67 17.18 (12.6 %)
Operating Income 6.19 4.63 (25.2 %)
Net Income 5.36 (28.06) (623.4 %)
Average Shares 100.00 100.00 -
EPS (Riyals) 0.05 (0.28) (623.4 %)

In Q4 2017, the company incurred a net loss of SAR 23 million, compared to a net profit of SAR 0.72 million in the same period of 2016.



Current Half Annual Comparison (M)

Compared With The
Item H2 2016 H2 2017 Change‬
Revenues 14.97 16.54 10.5 %
Gross Income 5.53 6.61 19.6 %
Operating Income 1.14 3.75 228.2 %
Net Income 0.72 (28.60) (4094.0 %)
Average Shares 100.00 100.00 -
EPS (Riyals) 0.01 (0.29) (4094.0 %)


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
H1 2008 - - - - - -
H2 2008 - - - - - -
H1 2009 - - - - - -
H2 2009 - - - - - -
H1 2010 - - - - - -
H2 2010 - - - - - -
H1 2011 - - - - - -
H2 2011 - - - - - -
H1 2012 - - - - - -
H2 2012 - - - - - -
H1 2013 - - - - - -
H2 2013 - - - - - -
H1 2014 - - - - - -
H2 2014 - - - - - -
H1 2015 - - - - - -
H2 2015 13.97 - 7.92 - 3.06 -
H1 2016 11.31 - 3.46 - (0.45) -
H2 2016 14.97 7.2 % 5.53 (30.2 %) 1.14 (62.7 %)
H1 2017 11.63 2.9 % 4.02 16.2 % 0.88 295.7 %
H2 2017 16.54 10.5 % 6.61 19.6 % 3.75 228.2 %
2017 49.41 (4.6 %) 17.18 (12.6 %) 4.63 (25.2 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
H1 2008 - - - - - -
H2 2008 - - - - - -
H1 2009 - - - - - -
H2 2009 - - - - - -
H1 2010 - - - - - -
H2 2010 - - - - - -
H1 2011 - - - - - -
H2 2011 - - - - - -
H1 2012 - - - - - -
H2 2012 - - - - - -
H1 2013 - - - - - -
H2 2013 - - - - - -
H1 2014 - - - - - -
H2 2014 - - - - - -
H1 2015 - - - - - -
H2 2015 2.77 - 0.03 - 2.77 0.03
H1 2016 (0.37) - 0.00 - (0.37) 0.00
H2 2016 0.72 (74.2 %) 0.01 - 0.72 0.01
H1 2017 0.79 313.2 % 0.01 - 0.79 0.01
H2 2017 (28.60) (4094.0 %) (0.29) (31.40) 2.80 0.03
2017 (28.06) (623.4 %) (0.28) (31.40) 3.34 0.03

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
H1 2008 - - -
H2 2008 - - -
H1 2009 - - -
H2 2009 - - -
H1 2010 - - -
H2 2010 - - -
H1 2011 - - -
H2 2011 - - -
H1 2012 - - -
H2 2012 - - -
H1 2013 - - -
H2 2013 - - -
H1 2014 - - -
H2 2014 - - -
H1 2015 - - -
H2 2015 - - -
H1 2016 - - -
H2 2016 39.57 % 30.62 % 10.19 %
H1 2017 42.51 % 35.91 % 14.76 %
H2 2017 34.78 % 30.93 % 6.90 %
2017 34.78 % 30.93 % 6.75 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
H1 2008 - - - -
H2 2008 - - - -
H1 2009 - - - -
H2 2009 - - - -
H1 2010 - - - -
H2 2010 - - - -
H1 2011 - - - -
H2 2011 - - - -
H1 2012 - - - -
H2 2012 - - - -
H1 2013 - - - -
H2 2013 - - - -
H1 2014 - - - -
H2 2014 - - - -
H1 2015 - - - -
H2 2015 100.00 - - 1.83
H1 2016 100.00 - - 1.82
H2 2016 100.00 0.05 0.05 1.88
H1 2017 100.00 0.08 0.08 1.90
H2 2017 100.00 (0.28) 0.03 1.48

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
H1 2008 - - -
H2 2008 - - -
H1 2009 - - -
H2 2009 - - -
H1 2010 - - -
H2 2010 - - -
H1 2011 - - -
H2 2011 - - -
H1 2012 - - -
H2 2012 - - -
H1 2013 - - -
H2 2013 - - -
H1 2014 - - -
H2 2014 - - -
H1 2015 - - -
H2 2015 - - -
H1 2016 - - -
H2 2016 - - -
H1 2017 18.20 18.20 0.75
H2 2017 NEG 35.44 0.81


Financial Ratios
Current
Market Cap (M Riyal) 708.00
Enterprise Value (EV) (M) 704.33
Shares Outstanding ((M)) 100.00
Book Value (BV) ( Riyal) 1.27
Par Value ( Riyal) 1.00
Adjusted P/E (Last12) Neg
Price/book 5.57
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