Financial Results : Aslak posts higher net profit at SAR 73.4m in I2 of 2013

Aslak posts higher net profit at SAR 73.4m in I2 of 2013

30/06/2013 Argaam Exclusive

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United Wire Factories Co., operating in the industry and the production of a variety of iron wires, reported SAR 73.4m net profit at the end of the first half of 2013, compared to SAR 63.1m in the same period last year, as shown in the following table:



Financials (M)

Item 6m 2012 6m 2013 Change‬
Revenues 560.81 546.39 (2.6 %)
Gross Income 73.57 86.17 17.1 %
Operating Income 62.76 72.54 15.6 %
Net Income 63.07 73.37 16.3 %
Average Shares 28.08 28.08 -
EPS (Riyals) 2.25 2.61 16.3 %


Current Quarter Comparison (M)

Compared With The
Item Q2 2012 Q2 2013 Change‬
Revenues 283.21 268.15 (5.3 %)
Gross Income 35.30 40.66 15.2 %
Operating Income 30.11 33.28 10.5 %
Net Income 30.14 33.77 12.0 %
Average Shares 28.08 28.08 -
EPS (Riyals) 1.07 1.20 12.0 %


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2004 - - - - - -
Q2 2004 - - - - - -
Q3 2004 - - - - - -
Q4 2004 - - - - - -
Q1 2005 - - - - - -
Q2 2005 - - - - - -
Q3 2005 - - - - - -
Q4 2005 - - - - - -
Q1 2006 - - - - - -
Q2 2006 - - - - - -
Q3 2006 - - - - - -
Q4 2006 - - - - - -
Q1 2007 - - - - - -
Q2 2007 - - - - - -
Q3 2007 - - - - - -
Q4 2007 - - - - - -
Q1 2008 - - - - - -
Q2 2008 - - - - - -
Q3 2008 - - - - - -
Q4 2008 - - - - - -
Q1 2009 - - - - - -
Q2 2009 - - - - - -
Q3 2009 90.65 - 19.40 - 75.44 -
Q4 2009 94.28 - 20.83 - 17.49 -
Q1 2010 123.14 - 28.53 - 24.58 -
Q2 2010 161.54 - 39.27 - 35.53 -
Q3 2010 133.70 47.5 % 34.29 76.7 % 30.45 (59.6 %)
Q4 2010 152.22 61.5 % 30.02 44.1 % 26.15 49.6 %
Q1 2011 205.56 66.9 % 42.35 48.4 % 38.57 56.9 %
Q2 2011 226.57 40.3 % 34.88 (11.2 %) 30.59 (13.9 %)
Q3 2011 187.98 40.6 % 25.48 (25.7 %) 21.52 (29.3 %)
Q4 2011 234.97 54.4 % 21.74 (27.6 %) 15.16 (42.0 %)
Q1 2012 277.60 35.0 % 38.27 (9.6 %) 32.65 (15.3 %)
Q2 2012 283.21 25.0 % 35.30 1.2 % 30.11 (1.6 %)
Q3 2012 209.77 11.6 % 26.43 3.7 % 21.09 (2.0 %)
Q4 2012 234.64 (0.1 %) 37.79 73.8 % 30.88 103.7 %
Q1 2013 278.25 0.2 % 45.51 18.9 % 39.26 20.2 %
Q2 2013 268.15 (5.3 %) 40.66 15.2 % 33.28 10.5 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2004 - - - - - -
Q2 2004 - - - - - -
Q3 2004 - - - - - -
Q4 2004 - - - - - -
Q1 2005 - - - - - -
Q2 2005 - - - - - -
Q3 2005 - - - - - -
Q4 2005 - - - - - -
Q1 2006 - - - - - -
Q2 2006 - - - - - -
Q3 2006 - - - - - -
Q4 2006 - - - - - -
Q1 2007 - - - - - -
Q2 2007 - - - - - -
Q3 2007 - - - - - -
Q4 2007 - - - - - -
Q1 2008 - - - - - -
Q2 2008 - - - - - -
Q3 2008 - - - - - -
Q4 2008 - - - - - -
Q1 2009 - - - - - -
Q2 2009 - - - - - -
Q3 2009 17.08 - 0.61 - 17.08 0.61
Q4 2009 17.26 - 0.61 - 17.26 0.61
Q1 2010 24.40 - 0.87 - 24.40 0.87
Q2 2010 35.60 - 1.27 - 35.60 1.27
Q3 2010 28.62 67.5 % 1.02 - 28.62 1.02
Q4 2010 27.10 57.0 % 0.96 - 27.10 0.96
Q1 2011 38.88 59.3 % 1.38 - 38.88 1.38
Q2 2011 30.77 (13.6 %) 1.10 - 30.77 1.10
Q3 2011 21.54 (24.7 %) 0.77 - 21.54 0.77
Q4 2011 15.73 (42.0 %) 0.56 - 15.73 0.56
Q1 2012 32.93 (15.3 %) 1.17 - 32.93 1.17
Q2 2012 30.14 (2.1 %) 1.07 - 30.14 1.07
Q3 2012 21.24 (1.4 %) 0.76 - 21.24 0.76
Q4 2012 31.04 97.4 % 1.11 - 31.04 1.11
Q1 2013 39.60 20.3 % 1.41 - 39.60 1.41
Q2 2013 33.77 12.0 % 1.20 - 33.77 1.20

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2004 - - -
Q2 2004 - - -
Q3 2004 - - -
Q4 2004 - - -
Q1 2005 - - -
Q2 2005 - - -
Q3 2005 - - -
Q4 2005 - - -
Q1 2006 - - -
Q2 2006 - - -
Q3 2006 - - -
Q4 2006 - - -
Q1 2007 - - -
Q2 2007 - - -
Q3 2007 - - -
Q4 2007 - - -
Q1 2008 - - -
Q2 2008 - - -
Q3 2008 - - -
Q4 2008 - - -
Q1 2009 - - -
Q2 2009 - - -
Q3 2009 - - -
Q4 2009 - - -
Q1 2010 - - -
Q2 2010 23.00 % 36.55 % 20.09 %
Q3 2010 23.98 % 25.74 % 20.65 %
Q4 2010 23.15 % 24.28 % 20.28 %
Q1 2011 22.35 % 23.14 % 19.94 %
Q2 2011 19.71 % 20.16 % 17.46 %
Q3 2011 17.19 % 17.39 % 15.31 %
Q4 2011 14.55 % 14.14 % 12.50 %
Q1 2012 12.98 % 12.44 % 10.89 %
Q2 2012 12.28 % 11.72 % 10.20 %
Q3 2012 12.11 % 11.47 % 9.95 %
Q4 2012 13.71 % 13.28 % 11.48 %
Q1 2013 14.42 % 13.97 % 12.13 %
Q2 2013 15.18 % 14.55 % 12.68 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2004 - - - -
Q2 2004 - - - -
Q3 2004 - - - -
Q4 2004 - - - -
Q1 2005 - - - -
Q2 2005 - - - -
Q3 2005 - - - -
Q4 2005 - - - -
Q1 2006 - - - -
Q2 2006 - - - -
Q3 2006 - - - -
Q4 2006 - - - -
Q1 2007 - - - -
Q2 2007 - - - -
Q3 2007 - - - -
Q4 2007 - - - -
Q1 2008 - - - -
Q2 2008 - - - -
Q3 2008 - - - -
Q4 2008 - - - -
Q1 2009 - - - -
Q2 2009 - - - -
Q3 2009 28.08 - - 10.12
Q4 2009 28.08 - - 9.97
Q1 2010 28.08 - - 10.81
Q2 2010 28.08 3.36 3.36 10.86
Q3 2010 28.08 3.77 3.77 11.78
Q4 2010 28.08 4.12 4.12 11.71
Q1 2011 28.08 4.64 4.64 13.00
Q2 2011 28.08 4.46 4.46 13.16
Q3 2011 28.08 4.21 4.21 13.89
Q4 2011 28.08 3.81 3.81 13.47
Q1 2012 28.08 3.60 3.60 13.42
Q2 2012 28.08 3.57 3.57 14.41
Q3 2012 28.08 3.56 3.56 15.08
Q4 2012 28.08 4.11 4.11 14.65
Q1 2013 28.08 4.35 4.35 15.96
Q2 2013 28.08 4.47 4.47 17.07

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2004 - - -
Q2 2004 - - -
Q3 2004 - - -
Q4 2004 - - -
Q1 2005 - - -
Q2 2005 - - -
Q3 2005 - - -
Q4 2005 - - -
Q1 2006 - - -
Q2 2006 - - -
Q3 2006 - - -
Q4 2006 - - -
Q1 2007 - - -
Q2 2007 - - -
Q3 2007 - - -
Q4 2007 - - -
Q1 2008 - - -
Q2 2008 - - -
Q3 2008 - - -
Q4 2008 - - -
Q1 2009 - - -
Q2 2009 - - -
Q3 2009 - - -
Q4 2009 - - -
Q1 2010 - - -
Q2 2010 - - -
Q3 2010 - - -
Q4 2010 - - -
Q1 2011 - - -
Q2 2011 - - -
Q3 2011 9.13 9.13 2.77
Q4 2011 11.11 11.11 3.14
Q1 2012 12.76 12.76 3.42
Q2 2012 9.93 9.93 2.46
Q3 2012 10.62 10.62 2.51
Q4 2012 8.37 8.37 2.35
Q1 2013 8.87 8.87 2.42
Q2 2013 10.44 10.44 2.74

Business Segments (Million)

Compared With The
Period Industrial sector Commercial sector
Q1 2011 154.63 50.93
Q2 2011 172.12 54.45
Q3 2011 145.60 42.39
Q4 2011 192.30 42.67
Q1 2012 227.91 49.69
Q2 2012 226.62 56.58
Q3 2012 164.76 45.00
Q4 2012 192.76 41.89
Q1 2013 233.41 44.84
Q2 2013 212.81 55.33

Current
Market Cap (M Riyal) 817.13
Enterprise Value (EV) (M) 769.33
Shares Outstanding ((M)) 28.08
EPS ( Riyal) (TTM) 0.80
Book Value (BV) ( Riyal) 13.75
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 36.22
P/E (TTM) 36.22
Price/book 2.12
Return on Average Assets (%) (TTM) 4.7
Return on Average Equity (%) (TTM) 5.8

Share Price

29.10
0.50 1.75 %

United Wire Factories Co. (ASLAK)


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