Financial Results : Al Jouf Cement’s net profit down 14% to SAR 39.7m for the first nine months of 2014

Al Jouf Cement’s net profit down 14% to SAR 39.7m for the first nine months of 2014

30/09/2014 Argaam Exclusive

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Al Jouf Cement Company, reported a net profit of SAR 39.7m for the nine months ended September 30,2014, a 14% decrease compared to the same period last year.

A net profit of SAR 8.6m was reported for Q3-2014.



Financials (M)

Item 9m 2013 9m 2014 Change‬
Revenues 233.69 196.04 (16.1 %)
Gross Income 82.01 71.88 (12.4 %)
Operating Income 56.37 50.12 (11.1 %)
Net Income 46.14 39.69 (14.0 %)
Average Shares 108.70 108.70 -
EPS (Riyals) 0.42 0.37 (14.0 %)

The Company attributed the decrease of 2014’s net profit compared to the same period last year to the decrease of sales and the average selling price compared to the same period last year due to the decline of cement demand.

The Company attributed the increase of Q3-2014’s net profit compared to the same period last year to the increase of sales.

The decline of Q3-2014’s net profit compared to the previous period (Q2-2014) was attributed to the decrease of sales during the Holy month of Ramadan and Eid holiday.



Current Quarter Comparison (M)

Compared With The
Item Q3 2013 Q3 2014 Change‬
Revenues 50.11 54.19 8.2 %
Gross Income 17.90 19.69 10.0 %
Operating Income 10.50 12.49 18.9 %
Net Income 7.34 8.60 17.1 %
Average Shares 108.70 108.70 -
EPS (Riyals) 0.07 0.08 17.1 %


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
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 - - - - (0.42) -
Q2 2008 - - - - (0.75) -
Q3 2008 - - - - (0.84) -
Q4 2008 - - - - (1.26) -
Q1 2009 - - - - (1.44) (246.9 %)
Q2 2009 - - - - (1.57) (109.2 %)
Q3 2009 - - - - (1.66) (97.0 %)
Q4 2009 - - - - (1.96) (55.5 %)
Q1 2010 0.98 - (0.73) - (3.24) (124.4 %)
Q2 2010 17.73 - 7.49 - 0.45 128.5 %
Q3 2010 36.93 - 16.79 - 12.38 848.0 %
Q4 2010 47.60 - 22.10 - 16.73 954.2 %
Q1 2011 82.24 8266.0 % 35.56 4991.6 % 31.13 1061.4 %
Q2 2011 95.58 439.0 % 34.16 356.1 % 28.57 6263.9 %
Q3 2011 59.74 61.8 % 25.34 50.9 % 16.55 33.7 %
Q4 2011 78.34 64.6 % 23.82 7.8 % 17.68 5.7 %
Q1 2012 101.73 23.7 % 42.40 19.2 % 35.99 15.6 %
Q2 2012 92.75 (3.0 %) 39.88 16.7 % 29.65 3.8 %
Q3 2012 71.33 19.4 % 30.84 21.7 % 23.43 41.6 %
Q4 2012 103.36 31.9 % 42.02 76.4 % 34.40 94.6 %
Q1 2013 100.37 (1.3 %) 36.11 (14.8 %) 28.82 (19.9 %)
Q2 2013 83.21 (10.3 %) 28.00 (29.8 %) 17.05 (42.5 %)
Q3 2013 50.11 (29.8 %) 17.90 (42.0 %) 10.50 (55.2 %)
Q4 2013 59.99 (42.0 %) 15.02 (64.3 %) 6.18 (82.0 %)
Q1 2014 69.35 (30.9 %) 25.93 (28.2 %) 18.16 (37.0 %)
Q2 2014 72.50 (12.9 %) 26.26 (6.2 %) 19.47 14.2 %
Q3 2014 54.19 8.2 % 19.69 10.0 % 12.49 18.9 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
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 (1.39) - (0.02) (2.73) 1.34 0.02
Q2 2008 (3.16) - (0.04) (3.05) (0.12) 0.00
Q3 2008 (6.30) - (0.07) (5.83) (0.48) (0.01)
Q4 2008 (0.12) - 0.00 (2.71) 2.60 0.03
Q1 2009 (4.51) (223.6 %) (0.05) (2.39) (2.12) (0.02)
Q2 2009 (4.86) (53.7 %) (0.06) (3.03) (1.82) (0.02)
Q3 2009 (5.90) 6.4 % (0.07) (4.50) (1.40) (0.02)
Q4 2009 (16.58) (13,836.1 %) (0.19) (14.60) (1.99) (0.02)
Q1 2010 (5.22) (15.7 %) (0.06) - (5.22) (0.06)
Q2 2010 (1.70) 65.0 % (0.02) - (1.70) (0.02)
Q3 2010 5.00 184.8 % 0.05 (7.41) 12.42 0.11
Q4 2010 16.69 200.6 % 0.15 - 16.69 0.15
Q1 2011 28.23 641.1 % 0.26 - 28.23 0.26
Q2 2011 25.86 1622.2 % 0.24 - 25.86 0.24
Q3 2011 14.39 187.7 % 0.13 - 14.39 0.13
Q4 2011 14.09 (15.5 %) 0.13 - 14.09 0.13
Q1 2012 33.49 18.7 % 0.31 - 33.49 0.31
Q2 2012 26.22 1.4 % 0.24 - 26.22 0.24
Q3 2012 21.93 52.4 % 0.20 - 21.93 0.20
Q4 2012 25.46 80.6 % 0.23 - 25.46 0.23
Q1 2013 24.99 (25.4 %) 0.23 - 24.99 0.23
Q2 2013 13.81 (47.3 %) 0.13 - 13.81 0.13
Q3 2013 7.34 (66.5 %) 0.07 - 7.34 0.07
Q4 2013 7.97 (68.7 %) 0.07 - 7.97 0.07
Q1 2014 15.01 (39.9 %) 0.14 - 15.01 0.14
Q2 2014 16.08 16.4 % 0.15 - 16.08 0.15
Q3 2014 8.60 17.1 % 0.08 - 8.60 0.08

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
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 (73.96 %) (476.09 %) (1060.33 %)
Q2 2010 36.14 % 4.14 % (55.03 %)
Q3 2010 42.33 % 32.85 % 6.31 %
Q4 2010 44.22 % 47.59 % 21.49 %
Q1 2011 44.41 % 50.19 % 30.15 %
Q2 2011 41.40 % 49.75 % 31.71 %
Q3 2011 41.09 % 50.66 % 29.87 %
Q4 2011 37.63 % 46.01 % 26.14 %
Q1 2012 37.49 % 44.96 % 26.19 %
Q2 2012 39.52 % 45.65 % 26.52 %
Q3 2012 39.79 % 46.08 % 27.82 %
Q4 2012 42.02 % 47.86 % 29.01 %
Q1 2013 40.47 % 46.21 % 26.81 %
Q2 2013 38.23 % 43.94 % 24.06 %
Q3 2013 36.80 % 43.02 % 21.24 %
Q4 2013 33.04 % 40.07 % 18.42 %
Q1 2014 33.07 % 40.88 % 16.80 %
Q2 2014 33.78 % 43.78 % 18.41 %
Q3 2014 33.94 % 43.75 % 18.61 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
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 85.37 - - 11.87
Q2 2008 85.37 - - 11.84
Q3 2008 85.37 - - 11.76
Q4 2008 85.37 (0.13) 0.04 11.76
Q1 2009 85.37 (0.17) 0.00 11.71
Q2 2009 85.37 (0.18) (0.02) 11.65
Q3 2009 85.37 (0.18) (0.03) 11.58
Q4 2009 85.37 (0.37) (0.09) 11.38
Q1 2010 85.37 (0.38) (0.12) 11.32
Q2 2010 85.37 (0.34) (0.12) 11.30
Q3 2010 108.70 (0.17) 0.03 11.49
Q4 2010 108.70 0.14 0.20 11.64
Q1 2011 108.70 0.44 0.51 11.90
Q2 2011 108.70 0.70 0.77 12.14
Q3 2011 108.70 0.78 0.78 12.27
Q4 2011 108.70 0.76 0.76 12.40
Q1 2012 108.70 0.81 0.81 12.71
Q2 2012 108.70 0.81 0.81 12.36
Q3 2012 108.70 0.88 0.88 12.56
Q4 2012 108.70 0.99 0.99 12.79
Q1 2013 108.70 0.91 0.91 13.02
Q2 2013 108.70 0.79 0.79 12.55
Q3 2013 108.70 0.66 0.66 12.62
Q4 2013 108.70 0.50 0.50 12.69
Q1 2014 108.70 0.41 0.41 12.83
Q2 2014 108.70 0.43 0.43 13.00
Q3 2014 108.70 0.44 0.44 13.08

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
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 NEG More than 100 1.38
Q4 2010 More than 100 71.51 1.25
Q1 2011 31.95 27.70 1.19
Q2 2011 28.15 25.64 1.62
Q3 2011 22.14 22.14 1.41
Q4 2011 23.79 23.79 1.46
Q1 2012 29.84 29.84 1.90
Q2 2012 24.41 24.41 1.60
Q3 2012 23.24 23.24 1.63
Q4 2012 19.85 19.85 1.53
Q1 2013 21.56 21.56 1.50
Q2 2013 25.43 25.43 1.61
Q3 2013 34.51 34.51 1.80
Q4 2013 42.31 42.31 1.66
Q1 2014 52.76 52.76 1.67
Q2 2014 54.83 54.83 1.80
Q3 2014 65.66 65.66 2.20


Financial Ratios
Current
Market Cap (M Riyal) 1,095.70
Enterprise Value (EV) (M) 1,801.05
Shares Outstanding ((M)) 108.70
EPS ( Riyal) (TTM) 0.39
Book Value (BV) ( Riyal) 11.51
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) 25.66
Price/book 0.88
Return on Average Assets (%) (TTM) 2.0
Return on Average Equity (%) (TTM) 3.5
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Share Price

Al Jouf Cement Co.
10.08
(0.06) (0.59 %)

Al Jouf Cement Co. (JOUF CEMENT)

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