Atheeb’s losses down 52% to SAR 34 mln at the end of March 2015
21/04/2015
Argaam Exclusive
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Ehtihad Atheeb Telecommunications Company (GO), which provides homeland telephone services in Saudi Arabia, reported a net loss of SAR 33.7 million at the end of March 2015, 51.5 percent lower compared to the same period in 2014.
Financials (M)
| Item | 2013 | 2014 | Change |
|---|---|---|---|
| Revenues | 234.54 | 247.10 | 5.4 % |
| Gross Income | 32.43 | 29.96 | (7.6 %) |
| Operating Income | (269.07) | (292.56) | (8.7 %) |
| Net Income | (249.27) | (56.24) | 77.4 % |
| Average Shares | 29.62 | 29.62 | - |
| EPS (Riyals) | (8.41) | (1.90) | 77.4 % |
The year-on-year drop in losses was mainly attributed to higher operating revenue and other revenues, as well as lower depreciation expenses.
Lower net losses compared to Q4-2014 were driven by an increase in revenue and the decline of staff expenses, as well as lower selling and marketing expenses and general and administrative costs, the company added.
Compared With The
Current Quarter Comparison (M)
| Item | Q4 2013 | Q4 2014 | Change |
|---|---|---|---|
| Revenues | 57.70 | 73.43 | 27.3 % |
| Gross Income | 4.12 | 10.01 | 143.2 % |
| Operating Income | (73.86) | (63.99) | 13.4 % |
| Net Income | (69.46) | (33.73) | 51.4 % |
| Average Shares | 29.62 | 29.62 | - |
| EPS (Riyals) | (2.34) | (1.14) | 51.4 % |
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| Q1 2014 | 61.99 | 6.7 % | 6.16 | (38.2 %) | (69.97) | (3.1 %) |
| Q2 2014 | 51.21 | (6.9 %) | 4.24 | (59.5 %) | (78.43) | (30.5 %) |
| Q3 2014 | 60.48 | (5.1 %) | 8.79 | 11.5 % | (80.18) | (19.2 %) |
| Q4 2014 | 73.43 | 27.3 % | 10.01 | 143.2 % | (63.99) | 13.4 % |
| 2014 | 247.10 | 5.4 % | 29.96 | (7.6 %) | (292.56) | (8.7 %) |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS Before XO Items |
|---|---|---|---|---|---|---|
| Q1 2014 | 60.43 | 187.6 % | 2.04 | 130.40 | (69.97) | (2.36) |
| Q2 2014 | (35.28) | 18.4 % | (1.19) | 32.10 | (67.38) | (2.27) |
| Q3 2014 | (47.67) | 29.5 % | (1.61) | 31.50 | (79.17) | (2.67) |
| Q4 2014 | (33.73) | 51.4 % | (1.14) | 46.94 | (80.67) | (2.72) |
| 2014 | (56.24) | 77.4 % | (1.90) | 240.94 | (297.19) | (10.03) |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| Q1 2014 | 12.01 % | (28.98 %) | (112.74 %) |
| Q2 2014 | 9.55 % | (36.85 %) | (116.94 %) |
| Q3 2014 | 10.07 % | (43.48 %) | (123.60 %) |
| Q4 2014 | 11.82 % | (38.11 %) | (120.27 %) |
| 2014 | 12.12 % | (38.11 %) | (120.27 %) |
Compared With The
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| Q1 2014 | 29.62 | (4.05) | (9.07) | 25.22 |
| Q2 2014 | 29.62 | (3.78) | (9.26) | 24.03 |
| Q3 2014 | 29.62 | (3.10) | (9.65) | 22.42 |
| Q4 2014 | 29.62 | (1.90) | (10.03) | 21.27 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| Q1 2014 | NEG | NEG | 4.11 |
| Q2 2014 | NEG | NEG | 3.27 |
| Q3 2014 | NEG | NEG | 3.04 |
| Q4 2014 | NEG | NEG | 1.93 |
Business Segments (Million)
Q4 2014
| Period | Data sector | Voice services |
|---|---|---|
| Q1 2014 | 38.61 | 23.37 |
| Q2 2014 | 36.49 | 14.72 |
| Q3 2014 | 34.52 | 25.96 |
| Q4 2014 | 36.03 | 37.40 |
| Current | |
| Market Cap (M Riyal) | 3,861.26 |
| Enterprise Value (EV) (M) | 3,395.97 |
| Shares Outstanding ((M)) | 33.99 |
| EPS ( Riyal) (TTM) | 5.87 |
| Book Value (BV) ( Riyal) | 19.24 |
| Par Value ( Riyal) | 10.00 |
| Adjusted P/E (Last12) | 23.53 |
| P/E (TTM) | 19.35 |
| Price/book | 5.90 |
| Return on Average Assets (%) (TTM) | 16.6 |
| Return on Average Equity (%) (TTM) | 45.8 |
Share Price
Etihad Atheeb Telecommunication Co. (ATHEEB TELECOM)
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