Saudi Cable swings to SAR 2 mln net profit in FY15

21/01/2016 Argaam Exclusive

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Saudi Cable Co., a manufacturer of high voltage cables, swung to a net profit to SAR 1.69 million for the 2015 fiscal year, compared to a net loss of SAR 201.68 million in 2014. The improvement came as a result of higher sales volumes and profit margins, recovery of doubtful debts and lower operating expenses.

Financials (M)

Item	2014	2015	Change‬
Revenues	1,716.32	1,918.06	11.8 %
Gross Income	6.66	68.41	926.6 %
Operating Income	(201.49)	(102.07)	49.3 %
Net Income	(201.68)	1.69	100.8 %
Average Shares	4.18	4.18	-
EPS (Riyals)	(48.25)	0.40	100.8 %

The company also turned to a net profit of SAR 11.6 million in Q4-2015, compared to a net loss of SAR 59.49 million in Q4-2014. Lower financing costs was said to be the main factor supporting performance during the period.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2014	Q4 2015	Change‬
Revenues	404.74	449.84	11.1 %
Gross Income	(19.28)	(1.25)	93.5 %
Operating Income	(62.92)	(49.48)	21.4 %
Net Income	(59.94)	11.60	119.4 %
Average Shares	4.18	4.18	-
EPS (Riyals)	(14.34)	2.78	119.4 %

Item	Q3 2015	Q4 2015	Change‬
Revenues	491.63	449.84	(8.5 %)
Gross Income	14.82	(1.25)	(108.4 %)
Operating Income	(20.16)	(49.48)	(145.5 %)
Net Income	(2.85)	11.60	506.5 %
Average Shares	4.18	4.18	-
EPS (Riyals)	(0.68)	2.78	506.5 %

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
Q1 2006	346.28	11.0 %	37.62	40.7 %	0.67	(85.8 %)	0.17
Q2 2006	410.16	49.4 %	57.96	69.7 %	23.52	361.9 %	5.63
Q3 2006	431.44	54.6 %	68.26	51.0 %	26.45	105.8 %	6.33
Q4 2006	407.58	27.7 %	101.03	138.9 %	49.96	322.1 %	11.95
2006	1,595.46	34.6 %	264.87	78.5 %	100.61	58736.3 %	24.07
Q1 2007	663.84	91.7 %	121.23	222.3 %	68.70	10153.6 %	16.44
Q2 2007	815.78	98.9 %	139.15	140.1 %	70.15	198.2 %	16.78
Q3 2007	787.26	82.5 %	109.92	61.0 %	75.48	185.3 %	18.06
Q4 2007	876.46	115.0 %	194.62	92.6 %	68.46	37.0 %	16.38
2007	3,143.34	97.0 %	564.91	113.3 %	282.79	181.1 %	67.65
Q1 2008	760.18	14.5 %	157.39	29.8 %	84.14	22.5 %	20.13
Q2 2008	977.16	19.8 %	154.52	11.0 %	86.78	23.7 %	20.76
Q3 2008	1,005.19	27.7 %	170.54	55.2 %	92.26	22.2 %	22.07
Q4 2008	756.87	(13.6 %)	70.88	(63.6 %)	(51.13)	(174.7 %)	(12.23)
2008	3,499.39	11.3 %	553.32	(2.1 %)	212.05	(25.0 %)	50.73
Q1 2009	645.07	(15.1 %)	108.10	(31.3 %)	46.27	(45.0 %)	11.07
Q2 2009	646.97	(33.8 %)	96.86	(37.3 %)	47.20	(45.6 %)	11.29
Q3 2009	557.04	(44.6 %)	66.20	(61.2 %)	20.11	(78.2 %)	4.81
Q4 2009	609.36	(19.5 %)	39.64	(44.1 %)	(9.10)	82.2 %	(2.18)
2009	2,458.43	(29.7 %)	310.80	(43.8 %)	104.48	(50.7 %)	24.99
Q1 2010	492.81	(23.6 %)	29.15	(73.0 %)	1.07	(97.7 %)	0.26
Q2 2010	500.81	(22.6 %)	13.56	(86.0 %)	(26.50)	(156.1 %)	(6.34)
Q3 2010	368.66	(33.8 %)	(35.20)	(153.2 %)	(71.53)	(455.7 %)	(17.11)
Q4 2010	494.83	(18.8 %)	10.90	(72.5 %)	9.15	200.6 %	2.19
2010	1,857.11	(24.5 %)	18.41	(94.1 %)	(87.82)	(184.1 %)	(21.01)
Q1 2011	829.96	68.4 %	59.02	102.4 %	20.27	1801.1 %	4.85
Q2 2011	799.29	59.6 %	60.40	345.4 %	22.56	185.1 %	5.40
Q3 2011	744.74	102.0 %	22.85	164.9 %	(14.77)	79.3 %	(3.53)
Q4 2011	825.57	66.8 %	1.23	(88.7 %)	(22.95)	(350.8 %)	(5.49)
2011	3,199.57	72.3 %	143.51	679.4 %	5.11	105.8 %	1.22
Q1 2012	917.64	10.6 %	80.03	35.6 %	25.16	24.1 %	6.02
Q2 2012	860.71	7.7 %	77.74	28.7 %	20.18	(10.6 %)	4.83
Q3 2012	615.43	(17.4 %)	39.55	73.1 %	(13.68)	7.4 %	(3.27)
Q4 2012	294.06	(64.4 %)	(111.45)	(9183.0 %)	(188.07)	(719.5 %)	(44.99)
2012	2,687.85	(16.0 %)	85.88	(40.2 %)	(156.41)	(3163.8 %)	(37.42)
Q1 2013	669.34	(27.1 %)	49.07	(38.7 %)	(15.41)	(161.2 %)	(3.69)
Q2 2013	598.42	(30.5 %)	18.51	(76.2 %)	(131.75)	(753.0 %)	(31.52)
Q3 2013	617.36	0.3 %	46.05	16.4 %	(8.04)	41.2 %	(1.92)
Q4 2013	562.20	91.2 %	(3.75)	96.6 %	(73.92)	60.7 %	(17.68)
2013	2,447.86	(8.9 %)	70.38	(18.0 %)	(229.12)	(46.5 %)	(54.81)
Q1 2014	458.56	(31.5 %)	16.35	(66.7 %)	(41.13)	(166.9 %)	(9.84)
Q2 2014	434.54	(27.4 %)	0.95	(94.8 %)	(50.57)	61.6 %	(12.10)
Q3 2014	394.66	(36.1 %)	(1.44)	(103.1 %)	(50.05)	(522.6 %)	(11.97)
Q4 2014	404.74	(28.0 %)	(19.28)	(413.7 %)	(59.94)	18.9 %	(14.34)
2014	1,716.32	(29.9 %)	6.66	(90.5 %)	(201.68)	12.0 %	(48.25)
Q1 2015	498.35	8.7 %	29.34	79.5 %	(7.94)	80.7 %	(1.90)
Q2 2015	475.70	9.5 %	21.25	2127.6 %	0.88	101.7 %	0.21
Q3 2015	491.63	24.6 %	14.82	1128.4 %	(2.85)	94.3 %	(0.68)
Q4 2015	449.84	11.1 %	(1.25)	93.5 %	11.60	119.4 %	2.78
2015	1,918.06	11.8 %	68.41	926.6 %	1.69	100.8 %	0.40

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
2006	1,595.46	34.6 %	264.87	78.5 %	100.61	58736.3 %	24.07
2007	3,143.34	97.0 %	564.91	113.3 %	282.79	181.1 %	67.65
2008	3,499.39	11.3 %	553.32	(2.1 %)	212.05	(25.0 %)	50.73
2009	2,458.43	(29.7 %)	310.80	(43.8 %)	104.48	(50.7 %)	24.99
2010	1,857.11	(24.5 %)	18.41	(94.1 %)	(87.82)	(184.1 %)	(21.01)
2011	3,199.57	72.3 %	143.51	679.4 %	5.11	105.8 %	1.22
2012	2,687.85	(16.0 %)	85.88	(40.2 %)	(156.41)	(3163.8 %)	(37.42)
2013	2,447.86	(8.9 %)	70.38	(18.0 %)	(229.12)	(46.5 %)	(54.81)
2014	1,716.32	(29.9 %)	6.66	(90.5 %)	(201.68)	12.0 %	(48.25)
2015	1,918.06	11.8 %	68.41	926.6 %	1.69	100.8 %	0.40

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2006	13.06 %	4.44 %	(0.32 %)
Q2 2006	13.51 %	5.47 %	1.07 %
Q3 2006	13.68 %	6.05 %	1.87 %
Q4 2006	16.60 %	10.30 %	6.31 %
2006	16.60 %	10.30 %	6.31 %
Q1 2007	18.22 %	12.28 %	8.82 %
Q2 2007	18.53 %	12.64 %	9.28 %
Q3 2007	17.62 %	12.44 %	9.88 %
Q4 2007	17.97 %	11.92 %	9.00 %
2007	17.97 %	11.92 %	9.00 %
Q1 2008	18.55 %	12.33 %	9.21 %
Q2 2008	18.12 %	12.31 %	9.26 %
Q3 2008	18.71 %	12.64 %	9.16 %
Q4 2008	15.81 %	10.10 %	6.06 %
2008	15.81 %	10.10 %	6.06 %
Q1 2009	14.89 %	9.54 %	5.15 %
Q2 2009	14.62 %	9.42 %	4.41 %
Q3 2009	13.13 %	8.00 %	2.40 %
Q4 2009	12.64 %	8.95 %	4.25 %
2009	12.64 %	8.95 %	4.25 %
Q1 2010	10.05 %	7.05 %	2.57 %
Q2 2010	6.88 %	3.91 %	(0.67 %)
Q3 2010	2.39 %	(0.52 %)	(5.38 %)
Q4 2010	0.99 %	(3.30 %)	(4.73 %)
2010	0.99 %	(3.30 %)	(4.73 %)
Q1 2011	2.20 %	(1.83 %)	(3.13 %)
Q2 2011	3.82 %	(0.09 %)	(0.78 %)
Q3 2011	5.34 %	1.72 %	1.30 %
Q4 2011	4.49 %	1.80 %	0.16 %
2011	4.49 %	1.80 %	0.16 %
Q1 2012	5.00 %	2.04 %	0.30 %
Q2 2012	5.43 %	2.36 %	0.23 %
Q3 2012	6.17 %	2.85 %	0.27 %
Q4 2012	3.20 %	(1.27 %)	(5.82 %)
2012	3.20 %	(1.27 %)	(5.82 %)
Q1 2013	2.25 %	(2.58 %)	(8.07 %)
Q2 2013	(0.20 %)	(9.90 %)	(16.02 %)
Q3 2013	0.10 %	(9.84 %)	(15.75 %)
Q4 2013	4.49 %	(4.17 %)	(9.36 %)
2013	2.88 %	(4.17 %)	(9.36 %)
Q1 2014	3.45 %	(6.29 %)	(11.39 %)
Q2 2014	2.88 %	(3.14 %)	(8.38 %)
Q3 2014	0.65 %	(5.47 %)	(11.66 %)
Q4 2014	(0.20 %)	(6.24 %)	(11.19 %)
2014	0.39 %	(6.16 %)	(11.03 %)
Q1 2015	0.55 %	(4.80 %)	(9.01 %)
Q2 2015	1.68 %	(2.83 %)	(6.95 %)
Q3 2015	2.47 %	(1.15 %)	(5.22 %)
Q4 2015	3.35 %	(0.50 %)	(5.26 %)
2015	3.57 %	(0.50 %)	(5.25 %)

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2006	16.60 %	10.30 %	6.31 %
2007	17.97 %	11.92 %	9.00 %
2008	15.81 %	10.10 %	6.06 %
2009	12.64 %	8.95 %	4.25 %
2010	0.99 %	(3.30 %)	(4.73 %)
2011	4.49 %	1.80 %	0.16 %
2012	3.20 %	(1.27 %)	(5.82 %)
2013	2.88 %	(4.17 %)	(9.36 %)
2014	0.39 %	(6.16 %)	(11.03 %)
2015	3.57 %	(0.50 %)	(5.25 %)

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2006	10.86 %	4.09 %	0.19 %
Q2 2006	14.13 %	8.80 %	5.74 %
Q3 2006	15.82 %	10.27 %	6.13 %
Q4 2006	24.79 %	17.12 %	12.26 %
Q1 2007	18.26 %	12.78 %	10.35 %
Q2 2007	17.06 %	11.56 %	8.60 %
Q3 2007	13.96 %	10.64 %	9.59 %
Q4 2007	22.20 %	12.77 %	7.81 %
Q1 2008	20.70 %	14.40 %	11.07 %
Q2 2008	15.81 %	11.60 %	8.88 %
Q3 2008	16.97 %	12.20 %	9.18 %
Q4 2008	9.36 %	1.05 %	(6.76 %)
Q1 2009	16.76 %	12.24 %	7.17 %
Q2 2009	14.97 %	12.07 %	7.30 %
Q3 2009	11.88 %	7.78 %	3.61 %
Q4 2009	6.50 %	3.24 %	(1.49 %)
Q1 2010	5.92 %	4.35 %	0.22 %
Q2 2010	2.71 %	(0.03 %)	(5.29 %)
Q3 2010	(9.55 %)	(13.92 %)	(19.40 %)
Q4 2010	2.20 %	(6.33 %)	1.85 %
Q1 2011	7.11 %	5.13 %	2.44 %
Q2 2011	7.56 %	4.73 %	2.82 %
Q3 2011	3.07 %	0.05 %	(1.98 %)
Q4 2011	0.15 %	(2.80 %)	(2.78 %)
Q1 2012	8.72 %	5.67 %	2.74 %
Q2 2012	9.03 %	5.77 %	2.34 %
Q3 2012	6.43 %	2.14 %	(2.22 %)
Q4 2012	(37.90 %)	(50.65 %)	(63.95 %)
Q1 2013	7.33 %	3.45 %	(2.30 %)
Q2 2013	3.09 %	(17.21 %)	(22.02 %)
Q3 2013	7.46 %	2.31 %	(1.30 %)
Q4 2013	(0.67 %)	(6.47 %)	(13.15 %)
Q1 2014	3.56 %	(3.39 %)	(8.97 %)
Q2 2014	0.22 %	(6.33 %)	(11.64 %)
Q3 2014	(0.37 %)	(5.51 %)	(12.68 %)
Q4 2014	(4.76 %)	(10.09 %)	(11.76 %)
Q1 2015	5.89 %	1.41 %	(1.59 %)
Q2 2015	4.47 %	1.15 %	(3.73 %)
Q3 2015	3.01 %	1.41 %	(4.94 %)
Q4 2015	(0.28 %)	(6.43 %)	(11.29 %)

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2006	3.98	(0.97)	(0.97)	150.39
Q2 2006	4.18	3.48	3.48	186.05
Q3 2006	4.18	6.73	6.73	187.58
Q4 2006	4.18	24.07	24.07	172.59
Q1 2007	4.18	40.34	40.34	210.99
Q2 2007	4.18	51.50	51.50	227.52
Q3 2007	4.18	63.23	63.23	246.94
Q4 2007	4.18	67.65	67.65	244.50
Q1 2008	4.18	71.35	71.35	273.31
Q2 2008	4.18	75.32	75.32	290.00
Q3 2008	4.18	79.34	79.34	283.05
Q4 2008	4.18	50.73	50.73	251.21
Q1 2009	4.18	41.67	41.67	262.68
Q2 2009	4.18	32.20	32.20	291.79
Q3 2009	4.18	14.94	14.94	304.80
Q4 2009	4.18	24.99	24.99	310.67
Q1 2010	4.18	14.18	14.18	306.61
Q2 2010	4.18	(3.45)	(3.45)	264.76
Q3 2010	4.18	(25.37)	(25.37)	275.01
Q4 2010	4.18	(21.01)	(21.01)	283.16
Q1 2011	4.18	(16.42)	(16.42)	280.97
Q2 2011	4.18	(4.68)	(4.68)	265.98
Q3 2011	4.18	8.90	8.90	229.61
Q4 2011	4.18	1.22	1.22	241.41
Q1 2012	4.18	2.39	2.39	257.47
Q2 2012	4.18	1.82	1.82	248.95
Q3 2012	4.18	2.08	2.08	272.18
Q4 2012	4.18	(37.42)	(37.42)	218.92
Q1 2013	4.18	(47.12)	(47.12)	198.95
Q2 2013	4.18	(83.47)	(83.47)	158.40
Q3 2013	4.18	(82.12)	(82.12)	177.55
Q4 2013	4.18	(54.81)	(54.81)	161.17
Q1 2014	4.18	(60.96)	(60.96)	138.77
Q2 2014	4.18	(41.54)	(41.54)	136.46
Q3 2014	4.18	(51.59)	(51.59)	121.79
Q4 2014	4.18	(48.25)	(45.30)	102.81
Q1 2015	4.18	(40.31)	(37.36)	101.26
Q2 2015	4.18	(28.00)	(29.50)	103.53
Q3 2015	4.18	(16.71)	(23.34)	99.73
Q4 2015	4.18	0.40	(24.11)	104.06

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2006	4.18	24.07	24.07	172.59
2007	4.18	67.65	67.65	244.50
2008	4.18	50.73	50.73	251.21
2009	4.18	24.99	24.99	310.67
2010	4.18	(21.01)	(21.01)	283.16
2011	4.18	1.22	1.22	241.41
2012	4.18	(37.42)	(37.42)	218.92
2013	4.18	(54.81)	(54.81)	161.17
2014	4.18	(48.25)	(45.30)	102.81
2015	4.18	0.40	(24.11)	104.06

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2006	NEG	NEG	8.43
Q2 2006	More than 100	More than 100	6.59
Q3 2006	More than 100	More than 100	7.38
Q4 2006	40.96	40.96	5.71
Q1 2007	24.98	24.98	4.78
Q2 2007	18.86	18.86	4.27
Q3 2007	18.00	18.00	4.61
Q4 2007	24.43	24.43	6.76
Q1 2008	31.30	31.30	8.17
Q2 2008	31.57	31.57	8.20
Q3 2008	20.19	20.19	5.66
Q4 2008	15.15	15.15	3.06
Q1 2009	13.08	13.08	2.08
Q2 2009	25.12	25.12	2.77
Q3 2009	69.69	69.69	3.42
Q4 2009	28.43	28.43	2.29
Q1 2010	47.96	47.96	2.22
Q2 2010	NEG	NEG	1.85
Q3 2010	NEG	NEG	1.62
Q4 2010	NEG	NEG	1.43
Q1 2011	NEG	NEG	1.39
Q2 2011	NEG	NEG	1.56
Q3 2011	41.87	41.87	1.62
Q4 2011	More than 100	More than 100	1.68
Q1 2012	More than 100	More than 100	2.22
Q2 2012	More than 100	More than 100	1.72
Q3 2012	More than 100	More than 100	1.69
Q4 2012	NEG	NEG	1.77
Q1 2013	NEG	NEG	1.97
Q2 2013	NEG	NEG	2.42
Q3 2013	NEG	NEG	2.00
Q4 2013	NEG	NEG	2.27
Q1 2014	NEG	NEG	2.61
Q2 2014	NEG	NEG	2.61
Q3 2014	NEG	NEG	3.15
Q4 2014	NEG	NEG	2.61
Q1 2015	NEG	NEG	2.89
Q2 2015	NEG	NEG	2.49
Q3 2015	NEG	NEG	2.21
Q4 2015	More than 100	NEG	2.14

Period	P/E	Adjusted P/E	Price/book
2006	40.96	40.96	5.71
2007	24.43	24.43	6.76
2008	15.15	15.15	3.06
2009	28.43	28.43	2.29
2010	NEG	NEG	1.43
2011	More than 100	More than 100	1.68
2012	NEG	NEG	1.77
2013	NEG	NEG	2.27
2014	NEG	NEG	2.61
2015	More than 100	NEG	2.14

Business Segments (Million)

Compared With The

Period	Sale of Goods	Contract Revenue
Q3 2012	595.12	20.32
Q4 2012	204.37	89.69
Q1 2013	576.06	93.28
Q2 2013	522.87	75.55
Q3 2013	487.52	130.39
Q4 2013	487.40	105.39
Q1 2014	393.31	65.25
Q2 2014	414.10	20.45
Q3 2014	348.65	46.01
Q4 2014	407.12	21.44
Q1 2015	472.24	26.11
Q2 2015	461.29	14.41
Q3 2015	480.09	11.54
Q4 2015	422.83	38.96

Period	Sale of Goods	Contract Revenue
2012	2,458.18	-
2013	2,073.85	404.60
2014	1,563.18	153.14
2015	1,827.03	91.03

Financial Ratios

	Current
Market Cap (M Riyal)	497.73
Enterprise Value (EV) (M)	591.53
Shares Outstanding ((M))	6.67
EPS ( Riyal) (TTM)	(1.38)
Book Value (BV) ( Riyal)	(69.08)
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	Neg
P/E (TTM)	NEG
Price/book	(1.08)
Return on Average Assets (%) (TTM)	(1.30 )
Return on Average Equity (%) (TTM)	-

Saudi Cable Co. (SAUDI CABLE)

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Saudi Cable swings to SAR 2 mln net profit in FY15

View other reports

Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million)

Revenue by Business Segment (Latest) 2015 Q4

Financial Ratios

Share Price

Saudi Cable Co. (SAUDI CABLE)

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Saudi Cable swings to SAR 2 mln net profit in FY15

View other reports

Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million) Q4 2015

Revenue by Business Segment (Latest) 2015 Q4

Financial Ratios

Share Price

Saudi Cable Co. (SAUDI CABLE)

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Business Segments (Million)