Atheeb reports a net loss of SAR 22.5 mln for the nine months ended Dec. 31, 2014

21/01/2015 Argaam Exclusive

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Ehtihad Atheeb Telecommunications Company (GO), which provides homeland telephone services, reported a net loss of SAR 22.5 million for the nine months ended Dec. 31, 2014, compared to a net loss of SAR 179.8 for the same period in 2013.

A net loss of SAR 47.7 million was reported for Q3 ended Dec. 31, 2014 compared to SAR 35.3 million for Q2 ended Sep. 30, 2014.

Financials (M)

Item	9m 2013	9m 2014	Change‬
Revenues	176.84	173.67	(1.8 %)
Gross Income	28.31	19.19	(32.2 %)
Operating Income	(195.21)	(228.58)	(17.1 %)
Net Income	(179.82)	(22.52)	87.5 %
Average Shares	29.62	29.62	-
EPS (Riyals)	(6.07)	(0.76)	87.5 %

The company attributed the decline of the nine months period’s net loss compared to the same period of 2013, to the increase of other revenue realized on the sale of a building and revenue realized from signing marketing agreement with Saudi Telecommunications Company (STC) in addition to selling international calls cards in Q1.

The decline of Q3’s net loss compared to the corresponding period in 2013 was attributed to revenue realized from signing marketing agreement with Saudi Telecommunications Company (STC) in addition to selling international calls cards in the current quarter.

The increase of Q3’s net loss compared to the previous period period (Q2) was attributed to the decline of other revenue related to selling international calls cards and the increase of technical consultancy costs, interconnection expenses and provisions related to employees’ expenses.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2013	Q3 2014	Change‬
Revenues	63.76	60.48	(5.1 %)
Gross Income	7.89	8.79	11.5 %
Operating Income	(67.24)	(80.18)	(19.2 %)
Net Income	(67.60)	(47.67)	29.5 %
Average Shares	29.62	29.62	-
EPS (Riyals)	(2.28)	(1.61)	29.5 %

Item	Q2 2014	Q3 2014	Change‬
Revenues	51.21	60.48	18.1 %
Gross Income	4.24	8.79	107.5 %
Operating Income	(78.43)	(80.18)	(2.2 %)
Net Income	(35.28)	(47.67)	(35.1 %)
Average Shares	29.62	29.62	-
EPS (Riyals)	(1.19)	(1.61)	(35.1 %)

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
Q1 2005	-	-	-	-	-	-
Q2 2005	-	-	-	-	-	-
Q3 2005	-	-	-	-	-	-
Q4 2005	-	-	-	-	-	-
2005	-	-	-	-	-	-
Q1 2006	-	-	-	-	-	-
Q2 2006	-	-	-	-	-	-
Q3 2006	-	-	-	-	-	-
Q4 2006	-	-	-	-	-	-
2006	-	-	-	-	-	-
Q1 2007	-	-	-	-	-	-
Q2 2007	-	-	-	-	-	-
Q3 2007	-	-	-	-	-	-
Q4 2007	-	-	-	-	-	-
2007	-	-	-	-	-	-
Q1 2008	-	-	-	-	-	-
Q2 2008	-	-	-	-	-	-
Q3 2008	-	-	-	-	-	-
Q4 2008	-	-	-	-	-	-
2008	-	-	-	-	-	-
Q1 2009	-	-	-	-	(38.52)	-
Q2 2009	-	-	-	-	(47.52)	-
Q3 2009	-	-	(2.10)	-	(66.77)	-
Q4 2009	35.44	-	(47.41)	-	(226.30)	-
2009	35.44	-	(49.51)	-	(379.10)	-
Q1 2010	42.23	-	(38.63)	-	(155.10)	(302.6 %)
Q2 2010	46.81	-	(35.29)	-	(138.08)	(190.6 %)
Q3 2010	48.15	-	(33.09)	(1,475.9 %)	(135.00)	(102.2 %)
Q4 2010	49.38	39.3 %	(16.21)	65.8 %	(112.77)	50.2 %
2010	186.57	426.4 %	(123.22)	(148.9 %)	(540.94)	(42.7 %)
Q1 2011	60.27	42.7 %	0.32	100.8 %	(89.49)	42.3 %
Q2 2011	58.39	24.7 %	3.62	110.3 %	(77.82)	43.6 %
Q3 2011	61.32	27.4 %	12.59	138.1 %	(74.05)	45.1 %
Q4 2011	66.92	35.5 %	19.69	221.4 %	(61.09)	45.8 %
2011	246.90	32.3 %	36.23	129.4 %	(302.44)	44.1 %
Q1 2012	68.58	13.8 %	11.02	3321.4 %	(77.36)	13.6 %
Q2 2012	67.84	16.2 %	12.71	250.9 %	(78.19)	(0.5 %)
Q3 2012	69.65	13.6 %	12.68	0.7 %	(82.47)	(11.4 %)
Q4 2012	60.43	(9.7 %)	13.41	(31.9 %)	(35.11)	42.5 %
2012	266.48	7.9 %	49.82	37.5 %	(273.12)	9.7 %
Q1 2013	58.09	(15.3 %)	9.96	(9.6 %)	(67.85)	12.3 %
Q2 2013	54.99	(18.9 %)	10.47	(17.6 %)	(60.12)	23.1 %
Q3 2013	63.76	(8.5 %)	7.89	(37.8 %)	(67.24)	18.5 %
Q4 2013	57.70	(4.5 %)	4.12	(69.3 %)	(73.86)	(110.4 %)
2013	234.54	(12.0 %)	32.43	(34.9 %)	(269.07)	1.5 %
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 %)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2004	-	-	-	-	-	-
2005	-	-	-	-	-	-
2006	-	-	-	-	-	-
2007	-	-	-	-	-	-
2008	-	-	-	-	-	-
2009	35.44	-	(49.51)	-	(379.10)	-
2010	186.57	426.4 %	(123.22)	(148.9 %)	(540.94)	(42.7 %)
2011	246.90	32.3 %	36.23	129.4 %	(302.44)	44.1 %
2012	266.48	7.9 %	49.82	37.5 %	(273.12)	9.7 %
2013	234.54	(12.0 %)	32.43	(34.9 %)	(269.07)	1.5 %

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	-	-	-	-	-	-
2005	-	-	-	-	-	-
Q1 2006	-	-	-	-	-	-
Q2 2006	-	-	-	-	-	-
Q3 2006	-	-	-	-	-	-
Q4 2006	-	-	-	-	-	-
2006	-	-	-	-	-	-
Q1 2007	-	-	-	-	-	-
Q2 2007	-	-	-	-	-	-
Q3 2007	-	-	-	-	-	-
Q4 2007	-	-	-	-	-	-
2007	-	-	-	-	-	-
Q1 2008	-	-	-	-	-	-
Q2 2008	-	-	-	-	-	-
Q3 2008	-	-	-	-	-	-
Q4 2008	-	-	-	-	-	-
2008	-	-	-	-	-	-
Q1 2009	(33.80)	-	(5.47)	-	(33.80)	(5.47)
Q2 2009	(47.60)	-	(7.70)	-	(47.60)	(7.70)
Q3 2009	(66.85)	-	(10.81)	-	(66.85)	(10.81)
Q4 2009	(230.80)	-	(37.32)	-	(230.80)	(37.32)
2009	(379.04)	-	(61.30)	-	(379.04)	(61.30)
Q1 2010	(160.81)	(375.8 %)	(26.00)	-	(160.81)	(26.00)
Q2 2010	(146.35)	(207.5 %)	(23.67)	-	(146.35)	(23.67)
Q3 2010	(145.88)	(118.2 %)	(23.59)	-	(145.88)	(23.59)
Q4 2010	(122.10)	47.1 %	(19.75)	-	(122.10)	(19.75)
2010	(575.13)	(51.7 %)	(93.01)	-	(575.13)	(93.01)
Q1 2011	(98.81)	38.6 %	(15.98)	-	(98.81)	(15.98)
Q2 2011	(85.39)	41.7 %	(13.81)	-	(85.39)	(13.81)
Q3 2011	205.96	241.2 %	33.31	287.86	(81.90)	(13.24)
Q4 2011	(68.23)	44.1 %	(11.03)	-	(68.23)	(11.03)
2011	(46.47)	91.9 %	(7.51)	287.86	(334.32)	(54.06)
Q1 2012	(79.42)	19.6 %	(2.68)	-	(79.42)	(2.68)
Q2 2012	(78.91)	7.6 %	(2.66)	-	(78.91)	(2.66)
Q3 2012	(84.41)	(141.0 %)	(2.85)	-	(84.41)	(2.85)
Q4 2012	(36.35)	46.7 %	(1.23)	-	(36.35)	(1.23)
2012	(279.08)	(500.6 %)	(9.42)	-	(279.08)	(9.42)
Q1 2013	(68.97)	13.2 %	(2.33)	-	(68.97)	(2.33)
Q2 2013	(43.25)	45.2 %	(1.46)	18.53	(61.78)	(2.09)
Q3 2013	(67.60)	19.9 %	(2.28)	-	(67.60)	(2.28)
Q4 2013	(69.46)	(91.1 %)	(2.34)	-	(69.46)	(2.34)
2013	(249.27)	10.7 %	(8.41)	18.53	(267.80)	(9.04)
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)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2004	-	-	-	-	-	-
2005	-	-	-	-	-	-
2006	-	-	-	-	-	-
2007	-	-	-	-	-	-
2008	-	-	-	-	-	-
2009	(379.04)	-	(61.30)	-	(379.04)	(61.30)
2010	(575.13)	(51.7 %)	(93.01)	-	(575.13)	(93.01)
2011	(46.47)	91.9 %	(7.51)	287.86	(334.32)	(54.06)
2012	(279.08)	(500.6 %)	(9.42)	-	(279.08)	(9.42)
2013	(249.27)	10.7 %	(8.41)	18.53	(267.80)	(9.04)

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2005	-	-	-
Q2 2005	-	-	-
Q3 2005	-	-	-
Q4 2005	-	-	-
2005	-	-	-
Q1 2006	-	-	-
Q2 2006	-	-	-
Q3 2006	-	-	-
Q4 2006	-	-	-
2006	-	-	-
Q1 2007	-	-	-
Q2 2007	-	-	-
Q3 2007	-	-	-
Q4 2007	-	-	-
2007	-	-	-
Q1 2008	-	-	-
Q2 2008	-	-	-
Q3 2008	-	-	-
Q4 2008	-	-	-
2008	-	-	-
Q1 2009	-	-	-
Q2 2009	-	-	-
Q3 2009	-	-	-
Q4 2009	-	-	-
2009	(139.70 %)	(872.62 %)	(1069.43 %)
Q1 2010	-	-	-
Q2 2010	-	-	-
Q3 2010	(89.45 %)	(255.37 %)	(396.11 %)
Q4 2010	(66.05 %)	(172.87 %)	(308.27 %)
2010	(66.05 %)	(172.87 %)	(308.27 %)
Q1 2011	(41.19 %)	(123.81 %)	(250.80 %)
Q2 2011	(20.98 %)	(88.36 %)	(209.16 %)
Q3 2011	0.14 %	(58.26 %)	(169.25 %)
Q4 2011	14.67 %	(37.34 %)	(135.41 %)
2011	14.67 %	(37.34 %)	(135.41 %)
Q1 2012	18.38 %	(31.27 %)	(123.40 %)
Q2 2012	21.16 %	(30.03 %)	(116.55 %)
Q3 2012	20.55 %	(29.94 %)	(113.92 %)
Q4 2012	18.69 %	(31.24 %)	(104.73 %)
2012	18.69 %	(31.24 %)	(104.73 %)
Q1 2013	19.05 %	(31.39 %)	(104.93 %)
Q2 2013	19.13 %	(28.40 %)	(103.43 %)
Q3 2013	17.59 %	(25.77 %)	(98.92 %)
Q4 2013	13.83 %	(28.77 %)	(114.18 %)
2013	13.83 %	(28.77 %)	(114.18 %)
Q1 2014	12.01 %	(28.98 %)	(112.74 %)
Q2 2014	9.55 %	(36.85 %)	(116.94 %)
Q3 2014	10.07 %	(43.48 %)	(123.60 %)

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2004	-	-	-
2005	-	-	-
2006	-	-	-
2007	-	-	-
2008	-	-	-
2009	(139.70 %)	(872.62 %)	(1069.43 %)
2010	(66.05 %)	(172.87 %)	(308.27 %)
2011	14.67 %	(37.34 %)	(135.41 %)
2012	18.69 %	(31.24 %)	(104.73 %)
2013	13.83 %	(28.77 %)	(114.18 %)

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	(133.78 %)	(494.23 %)	(651.18 %)
Q1 2010	(91.46 %)	(242.17 %)	(380.75 %)
Q2 2010	(75.38 %)	(178.74 %)	(312.65 %)
Q3 2010	(68.73 %)	(165.61 %)	(302.97 %)
Q4 2010	(32.83 %)	(115.09 %)	(247.29 %)
Q1 2011	0.53 %	(54.90 %)	(163.95 %)
Q2 2011	6.20 %	(36.59 %)	(146.23 %)
Q3 2011	20.54 %	(36.43 %)	(133.56 %)
Q4 2011	29.42 %	(23.00 %)	(101.96 %)
Q1 2012	16.07 %	(30.20 %)	(115.81 %)
Q2 2012	18.74 %	(31.01 %)	(116.32 %)
Q3 2012	18.21 %	(35.32 %)	(121.20 %)
Q4 2012	22.20 %	(28.00 %)	(60.15 %)
Q1 2013	17.14 %	(30.65 %)	(118.72 %)
Q2 2013	19.04 %	(17.71 %)	(112.35 %)
Q3 2013	12.37 %	(26.15 %)	(106.03 %)
Q4 2013	7.14 %	(40.31 %)	(120.36 %)
Q1 2014	9.93 %	(31.36 %)	(112.88 %)
Q2 2014	8.28 %	(52.93 %)	(131.57 %)
Q3 2014	14.54 %	(50.94 %)	(130.91 %)

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	-	-	-	-
Q2 2008	-	-	-	-
Q3 2008	-	-	-	-
Q4 2008	-	-	-	-
Q1 2009	6.18	-	-	146.90
Q2 2009	6.18	-	-	139.20
Q3 2009	6.18	-	-	128.39
Q4 2009	6.18	(61.30)	(61.30)	100.43
Q1 2010	6.18	(81.84)	(81.84)	74.42
Q2 2010	6.18	(97.80)	(97.80)	50.75
Q3 2010	6.18	(110.59)	(110.59)	27.16
Q4 2010	6.18	(93.01)	(93.01)	7.41
Q1 2011	6.18	(82.98)	(82.98)	(8.57)
Q2 2011	6.18	(73.12)	(73.12)	(22.38)
Q3 2011	6.18	(16.23)	(62.78)	10.93
Q4 2011	6.18	(7.51)	(54.06)	(0.10)
Q1 2012	29.62	(0.91)	(10.63)	36.96
Q2 2012	29.62	(0.70)	(10.41)	34.30
Q3 2012	29.62	(10.50)	(10.50)	31.45
Q4 2012	29.62	(9.42)	(9.42)	31.60
Q1 2013	29.62	(9.07)	(9.07)	29.27
Q2 2013	29.62	(7.86)	(8.49)	27.81
Q3 2013	29.62	(7.30)	(7.92)	25.53
Q4 2013	29.62	(8.41)	(9.04)	23.18
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

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2004	-	-	-	-
2005	-	-	-	-
2006	-	-	-	-
2007	-	-	-	-
2008	-	-	-	-
2009	6.18	(61.30)	(61.30)	100.43
2010	6.18	(93.01)	(93.01)	7.41
2011	6.18	(7.51)	(54.06)	(0.10)
2012	29.62	(9.42)	(9.42)	31.60
2013	29.62	(8.41)	(9.04)	23.18

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	-	-	4.50
Q2 2009	-	-	5.79
Q3 2009	-	-	6.53
Q4 2009	NEG	NEG	7.49
Q1 2010	NEG	NEG	10.86
Q2 2010	NEG	NEG	13.68
Q3 2010	NEG	NEG	25.91
Q4 2010	NEG	NEG	95.88
Q1 2011	NEG	NEG	(36.99)
Q2 2011	NEG	NEG	(16.14)
Q3 2011	NEG	NEG	33.03
Q4 2011	NEG	NEG	(3511.00)
Q1 2012	NEG	NEG	3.58
Q2 2012	NEG	NEG	2.50
Q3 2012	NEG	NEG	2.60
Q4 2012	NEG	NEG	2.46
Q1 2013	NEG	NEG	2.59
Q2 2013	NEG	NEG	3.43
Q3 2013	NEG	NEG	3.38
Q4 2013	NEG	NEG	3.78
Q1 2014	NEG	NEG	4.11
Q2 2014	NEG	NEG	3.27
Q3 2014	NEG	NEG	3.04

Period	P/E	Adjusted P/E	Price/book
2004	-	-	-
2005	-	-	-
2006	-	-	-
2007	-	-	-
2008	-	-	-
2009	NEG	NEG	7.49
2010	NEG	NEG	95.88
2011	NEG	NEG	(3511.00)
2012	NEG	NEG	2.46
2013	NEG	NEG	3.78

Business Segments (Million)

Compared With The

Period	Data sector	Voice services
Q3 2013	41.86	21.89
Q4 2013	40.03	17.68
Q1 2014	38.61	23.37
Q2 2014	36.49	14.72
Q3 2014	34.52	25.96

Period	Data sector	Voice services
2013	168.97	65.58

Financial Ratios

	Current
Market Cap (M Riyal)	3,881.66
Enterprise Value (EV) (M)	3,416.37
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)	23.66
P/E (TTM)	19.46
Price/book	5.93
Return on Average Assets (%) (TTM)	16.6
Return on Average Equity (%) (TTM)	45.8

Etihad Atheeb Telecommunication Co. (ATHEEB TELECOM)

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Atheeb reports a net loss of SAR 22.5 mln for the nine months ended Dec. 31, 2014

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Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million)

Revenue by Business Segment (Latest) 2014 Q3

Financial Ratios

Share Price

Etihad Atheeb Telecommunication Co. (ATHEEB TELECOM)

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Atheeb reports a net loss of SAR 22.5 mln for the nine months ended Dec. 31, 2014

View other reports

Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million) Q3 2014

Revenue by Business Segment (Latest) 2014 Q3

Financial Ratios

Share Price

Etihad Atheeb Telecommunication Co. (ATHEEB TELECOM)

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Business Segments (Million)