Hail Cement's 2014 net profit up to 191% SAR 147.1 mln
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Hail Cement Company reported 2014’s net profit of SAR 147.1 million compared to a profit of SAR 50.5 million for the last year.
Financials (M)
| Item | 2013 | 2014 | Change |
|---|---|---|---|
| Revenues | 159.02 | 355.77 | 123.7 % |
| Gross Income | 80.72 | 184.01 | 127.9 % |
| Operating Income | 66.61 | 158.08 | 137.3 % |
| Net Income | 50.47 | 147.06 | 191.4 % |
| Average Shares | 97.90 | 97.90 | - |
| EPS (Riyals) | 0.52 | 1.50 | 191.4 % |
A net profit of SAR 40.9 million was reported for Q4-2014 compared to SAR 25.1 million for Q3.
The company attributed the increase of 2014’s net profit, compared to the last year, to the increase of sales revenue and production volume resulting in a lower percentage of the unit cost compared to same period last year, as the Company has started the commercial operations in the previous period starting from the month of May 2013, in addition to the settlement made with EPC contractor.
The increase of Q4-2014’s net profit compared to the same period last year was attributed to the increase of sales revenue and production volume resulting in a lower percentage of the unit cost compared to same quarter last year, in addition to the settlement made with EPC contractor.
The increase of Q4-2014’s net profit compared to Q3-2014 was attributed to the increase of sales revenue and production volume resulting in a lower percentage of the unit cost compared to previous quarter, in addition to the settlement made with EPC contractor.
Current Quarter Comparison (M)
| Item | Q4 2013 | Q4 2014 | Change |
|---|---|---|---|
| Revenues | 58.35 | 91.81 | 57.3 % |
| Gross Income | 29.78 | 52.85 | 77.5 % |
| Operating Income | 28.82 | 45.20 | 56.8 % |
| Net Income | 28.91 | 40.86 | 41.3 % |
| Average Shares | 97.90 | 97.90 | - |
| EPS (Riyals) | 0.30 | 0.42 | 41.3 % |
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| Q1 2014 | 83.48 | - | 44.23 | - | 37.55 | - |
| Q2 2014 | 100.71 | 84.2 % | 54.60 | 107.2 % | 48.88 | 165.1 % |
| Q3 2014 | 79.78 | 73.5 % | 32.33 | 31.5 % | 26.46 | 57.9 % |
| Q4 2014 | 91.81 | 57.3 % | 52.85 | 77.5 % | 45.20 | 56.8 % |
| 2014 | 355.77 | 123.7 % | 184.01 | 127.9 % | 158.08 | 137.3 % |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS Before XO Items |
|---|---|---|---|---|---|---|
| Q1 2014 | 35.10 | 352.0 % | 0.36 | - | 35.10 | 0.36 |
| Q2 2014 | 46.00 | 148.0 % | 0.47 | - | 46.00 | 0.47 |
| Q3 2014 | 25.10 | 48.2 % | 0.26 | - | 25.10 | 0.26 |
| Q4 2014 | 40.86 | 41.3 % | 0.42 | - | 40.86 | 0.42 |
| 2014 | 147.06 | 191.4 % | 1.50 | - | 147.06 | 1.50 |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| Q1 2014 | 51.53 % | 68.21 % | 41.03 % |
| Q2 2014 | 53.09 % | 68.44 % | 44.00 % |
| Q3 2014 | 49.93 % | 64.55 % | 41.92 % |
| Q4 2014 | 51.72 % | 62.17 % | 41.34 % |
| 2014 | 51.72 % | 62.17 % | 41.34 % |
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| Q1 2014 | 97.90 | 1.02 | 1.02 | 10.18 |
| Q2 2014 | 97.90 | 1.30 | 1.30 | 10.65 |
| Q3 2014 | 97.90 | 1.38 | 1.38 | 10.41 |
| Q4 2014 | 97.90 | 1.50 | 1.50 | 10.83 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| Q1 2014 | 23.17 | 23.17 | 2.31 |
| Q2 2014 | 19.93 | 19.93 | 2.43 |
| Q3 2014 | 21.24 | 21.24 | 2.82 |
| Q4 2014 | 15.19 | 15.19 | 2.11 |
Analysts Estimates (Million)
| Item | Q4 2014 (e) | Q4 2014 (a) | Change |
|---|---|---|---|
| Average | 43.40 | 40.86 | (5.9 %) |
Estimates vs Actual (Million)
| Item | Q4 2014 (e) | Q4 2014 (a) | Change |
|---|---|---|---|
| OSOOL AND BAKHEET | 43.40 | 40.86 | (5.9) % |
| Current | |
| Market Cap (M Riyal) | 1,135.64 |
| Enterprise Value (EV) (M) | 1,030.72 |
| Shares Outstanding ((M)) | 97.90 |
| EPS ( Riyal) (TTM) | 0.22 |
| Book Value (BV) ( Riyal) | 10.02 |
| Par Value ( Riyal) | 10.00 |
| Adjusted P/E (Last12) | More than 100 |
| P/E (TTM) | More than 100 |
| Price/book | 1.16 |
| Return on Average Assets (%) (TTM) | 1.9 |
| Return on Average Equity (%) (TTM) | 2.0 |
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