Financial Results : Arab Sea swings to net profit of SAR 1.5 mln in H1

Arab Sea swings to net profit of SAR 1.5 mln in H1

31/07/2017 Argaam Exclusive

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Arab Sea Information Systems Co. swung to a net profit of SAR 1.46 million for the first half of 2017, attributed to a 5 percent rise in operating revenue, lower operating costs, selling, general, and administrative expenses.

 

The company had posted a net loss of SAR 1.09 million in the same period last year.



Financials (M)

Item 6m 2016 6m 2017 Change‬
Revenues 23.88 25.09 5.0 %
Gross Income 6.42 8.46 31.8 %
Operating Income (1.09) 1.63 249.2 %
Net Income (1.10) 1.46 233.0 %
Average Shares 100.00 100.00 -
EPS (Riyals) (0.01) 0.01 233.0 %

Arab Sea made a net profit of SAR 789,125 in Q2 2017 versus a net loss of SAR 369,864 in the same quarter last year. This quarter’s profit was backed by higher operating revenue and lower operating costs, the company said in a statement. Net profit also jumped 18.3 percent quarter-on-quarter.



Current Half Annual Comparison (M)

Compared With The
Item H1 2016 H1 2017 Change‬
Revenues 11.31 11.63 2.9 %
Gross Income 3.46 4.02 16.2 %
Operating Income (0.45) 0.88 295.7 %
Net Income (0.37) 0.79 313.2 %
Average Shares 100.00 100.00 -
EPS (Riyals) 0.00 0.01 313.2 %


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 %


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

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 %


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

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


Financial Ratios
Current
Market Cap (M Riyal) 672.00
Enterprise Value (EV) (M) 668.33
Shares Outstanding ((M)) 100.00
Book Value (BV) ( Riyal) 1.27
Par Value ( Riyal) 1.00
Adjusted P/E (Last12) Neg
Price/book 5.29
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