Financial Results : Saudi Advanced posts SAR 14.7 mln net profit in H1

Saudi Advanced posts SAR 14.7 mln net profit in H1

15/07/2015 Argaam Exclusive

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Saudi Advanced Industries Co. reported a net profit of SAR 14.77 million for H1-2015, compared to a SAR 0.9 million loss incurred in the same period in 2014.

The improvement was mainly attributed to higher revenues from associates and lower zakat provisions, the company said in a statement to Tadawul.



Financials (M)

Item 6m 2014 6m 2015 Change‬
Revenues 12.67 17.19 35.7 %
Gross Income 12.67 17.19 35.7 %
Operating Income 10.46 14.49 38.6 %
Net Income (0.90) 14.77 1746.9 %
Average Shares 60.00 60.00 -
EPS (Riyals) (0.01) 0.25 1746.9 %

 

The company’s Q2 net profit was SAR 7.26 million, compared to SAR 6.9 million net loss sustained in the year-ago period.  The second quarter net profit was, however, 3.3 percent lower compared to the previous quarter.



Current Quarter Comparison (M)

Compared With The
Item Q2 2014 Q2 2015 Change‬
Revenues 4.64 8.15 75.7 %
Gross Income 4.64 8.15 75.7 %
Operating Income 3.51 6.82 94.1 %
Net Income (6.91) 7.26 205.0 %
Average Shares 60.00 60.00 -
EPS (Riyals) (0.12) 0.12 205.0 %


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2006 - - - - (0.50) (43.2 %)
Q2 2006 - - - - (0.33) 54.8 %
Q3 2006 - - - - (0.37) (12.3 %)
Q4 2006 - - - - (0.73) (41.2 %)
Q1 2007 - - - - (0.45) 10.5 %
Q2 2007 - - - - (1.66) (409.2 %)
Q3 2007 - - - - (0.53) (45.9 %)
Q4 2007 - - - - (0.24) 67.1 %
Q1 2008 5.07 - 5.07 - 4.51 1099.8 %
Q2 2008 9.39 - 9.39 - 8.60 617.8 %
Q3 2008 6.36 - 6.36 - 4.91 1018.5 %
Q4 2008 4.72 - 4.72 - 3.63 1617.6 %
Q1 2009 6.58 29.8 % 6.58 29.8 % 5.68 25.9 %
Q2 2009 13.17 40.4 % 13.17 40.4 % 12.19 41.8 %
Q3 2009 11.47 80.4 % 11.47 80.4 % 10.72 118.6 %
Q4 2009 7.70 63.2 % 7.70 63.2 % 6.68 84.2 %
Q1 2010 3.62 (45.0 %) 3.62 (45.0 %) 2.68 (52.9 %)
Q2 2010 7.55 (42.7 %) 7.55 (42.7 %) 6.59 (45.9 %)
Q3 2010 2.36 (79.4 %) 2.36 (79.4 %) 1.78 (83.4 %)
Q4 2010 (0.23) (103.0 %) (0.23) (103.0 %) (0.50) (107.5 %)
Q1 2011 1.12 (69.2 %) 1.12 (69.2 %) 0.28 (89.5 %)
Q2 2011 1.42 (81.2 %) 1.42 (81.2 %) 0.75 (88.6 %)
Q3 2011 (2.76) (216.8 %) (2.76) (216.8 %) (3.27) (283.6 %)
Q4 2011 8.81 3897.4 % 8.81 3897.4 % 6.67 1422.4 %
Q1 2012 (1.55) (239.2 %) (1.55) (239.2 %) (2.58) (1021.1 %)
Q2 2012 (2.96) (309.4 %) (2.96) (309.4 %) (3.98) (627.5 %)
Q3 2012 (0.62) 77.4 % (0.62) 77.4 % (0.99) 69.6 %
Q4 2012 (33.24) (477.3 %) (33.24) (477.3 %) (34.97) (624.7 %)
Q1 2013 4.83 411.3 % 4.83 411.3 % 3.84 249.0 %
Q2 2013 9.84 432.0 % 9.84 432.0 % 9.05 327.4 %
Q3 2013 9.50 1624.2 % 9.50 1624.2 % 8.74 978.9 %
Q4 2013 6.64 120.0 % 6.64 120.0 % 4.79 113.7 %
Q1 2014 8.03 66.2 % 8.03 66.2 % 6.94 80.7 %
Q2 2014 4.64 (52.9 %) 4.64 (52.9 %) 3.51 (61.1 %)
Q3 2014 8.48 (10.7 %) 8.48 (10.7 %) 7.47 (14.4 %)
Q4 2014 6.16 (7.2 %) 6.16 (7.2 %) 3.55 (26.0 %)
Q1 2015 9.04 12.5 % 9.04 12.5 % 7.66 10.4 %
Q2 2015 8.15 75.7 % 8.15 75.7 % 6.82 94.1 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2006 1.04 554.8 % 0.02 - 1.04 0.02
Q2 2006 0.53 (18.6 %) 0.01 - 0.53 0.01
Q3 2006 (0.36) (55.9 %) (0.01) - (0.36) (0.01)
Q4 2006 (0.78) (124.2 %) (0.02) - (0.78) (0.02)
Q1 2007 3.51 238.4 % 0.08 - 3.51 0.08
Q2 2007 3.81 618.5 % 0.06 - 3.81 0.06
Q3 2007 3.07 959.1 % 0.05 - 3.07 0.05
Q4 2007 5.22 769.8 % 0.09 - 5.22 0.09
Q1 2008 4.40 25.3 % 0.07 - 4.40 0.07
Q2 2008 8.71 128.7 % 0.15 - 8.71 0.15
Q3 2008 4.39 43.0 % 0.07 - 4.39 0.07
Q4 2008 2.17 (58.5 %) 0.04 - 2.17 0.04
Q1 2009 6.19 40.7 % 0.10 - 6.19 0.10
Q2 2009 11.97 37.5 % 0.20 - 11.97 0.20
Q3 2009 10.46 138.5 % 0.17 - 10.46 0.17
Q4 2009 6.17 184.5 % 0.10 - 6.17 0.10
Q1 2010 2.60 (58.0 %) 0.04 - 2.60 0.04
Q2 2010 6.44 (46.2 %) 0.11 - 6.44 0.11
Q3 2010 1.74 (83.4 %) 0.03 - 1.74 0.03
Q4 2010 (0.84) (113.7 %) (0.01) - (0.84) (0.01)
Q1 2011 0.17 (93.3 %) 0.00 - 0.17 0.00
Q2 2011 4.19 (34.9 %) 0.07 - 4.19 0.07
Q3 2011 (0.27) (115.7 %) 0.00 - (0.27) 0.00
Q4 2011 5.70 776.3 % 0.10 - 5.70 0.10
Q1 2012 (3.20) (1952.0 %) (0.05) - (3.20) (0.05)
Q2 2012 (26.17) (724.6 %) (0.44) - (26.17) (0.44)
Q3 2012 (4.34) (1,488.3 %) (0.07) - (4.34) (0.07)
Q4 2012 (28.39) (598.1 %) (0.47) - (28.39) (0.47)
Q1 2013 3.24 201.1 % 0.05 - 3.24 0.05
Q2 2013 8.72 133.3 % 0.15 - 8.72 0.15
Q3 2013 8.52 296.5 % 0.14 - 8.52 0.14
Q4 2013 4.58 116.1 % 0.08 - 4.58 0.08
Q1 2014 6.01 85.7 % 0.10 (0.76) 6.77 0.11
Q2 2014 (6.91) (179.3 %) (0.12) (9.98) 3.06 0.05
Q3 2014 13.81 62.1 % 0.23 (0.76) 14.57 0.24
Q4 2014 2.32 (49.4 %) 0.04 (0.76) 3.08 0.05
Q1 2015 7.51 24.9 % 0.13 - 7.51 0.13
Q2 2015 7.26 205.0 % 0.12 - 7.26 0.12

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2006 - - -
Q2 2006 - - -
Q3 2006 - - -
Q4 2006 - - -
Q1 2007 - - -
Q2 2007 - - -
Q3 2007 - - -
Q4 2007 - - -
Q1 2008 100.00 % 41.27 % 325.29 %
Q2 2008 100.00 % 85.47 % 147.98 %
Q3 2008 100.00 % 85.49 % 109.10 %
Q4 2008 100.00 % 84.84 % 76.99 %
Q1 2009 100.00 % 84.43 % 79.31 %
Q2 2009 100.00 % 85.71 % 80.15 %
Q3 2009 100.00 % 89.69 % 85.64 %
Q4 2009 100.00 % 90.68 % 89.36 %
Q1 2010 100.00 % 89.79 % 86.74 %
Q2 2010 100.00 % 87.99 % 84.58 %
Q3 2010 100.00 % 83.65 % 79.81 %
Q4 2010 100.00 % 79.50 % 74.69 %
Q1 2011 100.00 % 75.76 % 69.52 %
Q2 2011 100.00 % 50.28 % 112.84 %
Q3 2011 100.00 % 593.44 % (710.50 %)
Q4 2011 100.00 % 51.93 % 114.05 %
Q1 2012 100.00 % 26.99 % 108.42 %
Q2 2012 100.00 % (204.03 %) (1556.96 %)
Q3 2012 100.00 % (23.51 %) (762.98 %)
Q4 2012 100.00 % 110.75 % 161.82 %
Q1 2013 100.00 % 112.79 % 173.99 %
Q2 2013 100.00 % 120.18 % 108.24 %
Q3 2013 100.00 % 146.97 % 87.28 %
Q4 2013 100.00 % 85.81 % 81.34 %
Q1 2014 100.00 % 86.84 % 84.08 %
Q2 2014 100.00 % 83.32 % 79.63 %
Q3 2014 100.00 % 82.14 % 104.30 %
Q4 2014 100.00 % 78.73 % 100.61 %
Q1 2015 100.00 % 78.51 % 99.65 %
Q2 2015 100.00 % 80.26 % 101.84 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2006 42.18 0.11 0.11 4.82
Q2 2006 42.18 0.11 0.11 4.02
Q3 2006 42.18 0.11 0.11 3.51
Q4 2006 42.18 0.01 0.01 2.93
Q1 2007 42.18 0.07 0.07 3.14
Q2 2007 60.00 0.10 0.10 12.80
Q3 2007 60.00 0.16 0.16 13.07
Q4 2007 60.00 0.26 0.26 13.67
Q1 2008 60.00 0.27 0.27 13.84
Q2 2008 60.00 0.36 0.36 13.90
Q3 2008 60.00 0.38 0.38 12.73
Q4 2008 60.00 0.33 0.33 11.70
Q1 2009 60.00 0.36 0.36 12.04
Q2 2009 60.00 0.41 0.41 12.29
Q3 2009 60.00 0.51 0.51 12.81
Q4 2009 60.00 0.58 0.58 12.93
Q1 2010 60.00 0.52 0.52 13.27
Q2 2010 60.00 0.43 0.43 13.34
Q3 2010 60.00 0.28 0.28 13.39
Q4 2010 60.00 0.17 0.17 13.87
Q1 2011 60.00 0.13 0.13 13.91
Q2 2011 60.00 0.09 0.09 13.93
Q3 2011 60.00 0.05 0.05 13.81
Q4 2011 60.00 0.16 0.16 13.74
Q1 2012 60.00 0.11 0.11 14.12
Q2 2012 60.00 (0.40) (0.40) 13.25
Q3 2012 60.00 (0.47) (0.47) 13.22
Q4 2012 60.00 (1.04) (1.04) 12.89
Q1 2013 60.00 (0.93) (0.93) 13.24
Q2 2013 60.00 (0.35) (0.35) 13.53
Q3 2013 60.00 (0.13) (0.13) 14.04
Q4 2013 60.00 0.42 0.42 14.75
Q1 2014 60.00 0.46 0.48 14.68
Q2 2014 60.00 0.20 0.38 14.58
Q3 2014 60.00 0.29 0.48 14.86
Q4 2014 60.00 0.25 0.46 13.08
Q1 2015 60.00 0.28 0.47 12.92
Q2 2015 60.00 0.51 0.54 13.53

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2006 More than 100 More than 100 14.38
Q2 2006 More than 100 More than 100 21.73
Q3 2006 More than 100 More than 100 33.24
Q4 2006 More than 100 More than 100 11.37
Q1 2007 More than 100 More than 100 12.09
Q2 2007 More than 100 More than 100 1.38
Q3 2007 More than 100 More than 100 1.71
Q4 2007 91.45 91.45 1.74
Q1 2008 59.00 59.00 1.17
Q2 2008 44.97 44.97 1.15
Q3 2008 29.14 29.14 0.87
Q4 2008 22.10 22.10 0.62
Q1 2009 21.68 21.68 0.64
Q2 2009 22.93 22.93 0.77
Q3 2009 19.88 19.88 0.80
Q4 2009 17.41 17.41 0.78
Q1 2010 19.12 19.12 0.75
Q2 2010 20.30 20.30 0.65
Q3 2010 32.41 32.41 0.68
Q4 2010 59.23 59.23 0.71
Q1 2011 81.60 81.60 0.73
Q2 2011 More than 100 More than 100 0.77
Q3 2011 More than 100 More than 100 0.69
Q4 2011 67.37 67.37 0.80
Q1 2012 More than 100 More than 100 1.12
Q2 2012 NEG NEG 0.86
Q3 2012 NEG NEG 1.01
Q4 2012 NEG NEG 0.86
Q1 2013 NEG NEG 0.85
Q2 2013 NEG NEG 0.82
Q3 2013 NEG NEG 0.85
Q4 2013 31.92 31.92 0.90
Q1 2014 34.09 33.19 1.08
Q2 2014 92.86 49.40 1.30
Q3 2014 68.21 41.17 1.34
Q4 2014 54.49 30.20 1.06
Q1 2015 54.78 32.47 1.18
Q2 2015 29.51 28.13 1.12

Business Segments (Million)

Compared With The
Period Services and Invesments sector Glass industry Petrochemical sector Industrial Services Segment ( Energy and Utilities) Others
Q3 2009 - - - 9.85 1.62
Q4 2009 - (2.98) - 10.33 (0.34)
Q1 2010 - - - 2.00 1.62
Q2 2010 - - - 7.55 -
Q3 2010 - - - 2.36 -
Q4 2010 - (3.25) - 3.43 (0.04)
Q1 2011 - (0.65) - 1.76 -
Q2 2011 - (1.96) - 7.01 -
Q3 2011 - (2.76) - 3.39 -
Q4 2011 - (2.82) - (0.54) -
Q1 2012 - (2.43) - 0.87 -
Q2 2012 - (3.87) - (13.63) (1.59)
Q3 2012 - (3.86) - - 3.24
Q4 2012 - (2.96) - (14.14) -
Q1 2013 - (3.19) - 3.22 4.80
Q2 2013 - 0.45 - 9.39 0.04
Q3 2013 - 0.59 3.27 6.25 (0.61)
Q4 2013 - 2.75 - 3.88 -
Q1 2014 - 1.49 6.54 - 0.01
Q2 2014 - 0.60 - - 4.52
Q3 2014 - 1.94 4.90 - 9.84
Q4 2014 - 1.53 - - 4.89
Q1 2015 3.25 - 4.90 - 0.95
Q2 2015 2.60 0.39 3.27 1.62 0.85


Financial Ratios
Current
Market Cap (M Riyal) 2,103.00
Enterprise Value (EV) (M) 1,608.76
Shares Outstanding ((M)) 60.00
EPS ( Riyal) (TTM) 5.45
Book Value (BV) ( Riyal) 20.33
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 6.47
P/E (TTM) 6.55
Price/book 1.72
Return on Average Assets (%) (TTM) 27.3
Return on Average Equity (%) (TTM) 29.4
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Share Price

Saudi Advanced Industries Co.
35.05
(0.45) (1.27 %)

Saudi Advanced Industries Co. (SAIC)

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