Takween's 2014 net profit up 25% to SAR 55.3 mln
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Takween Advanced Industries, reported 2014’s net profit of SAR 55.3 million, a 25 percent increase compared to same period last year.
A net loss of SAR 0.8 million was reported for Q4-2014 compared to a profit of SAR 19.5 million for Q3.
Financials (M)
| Item | 2013 | 2014 | Change |
|---|---|---|---|
| Revenues | 731.02 | 767.68 | 5.0 % |
| Gross Income | 95.31 | 121.29 | 27.3 % |
| Operating Income | 46.64 | 56.86 | 21.9 % |
| Net Income | 44.39 | 55.32 | 24.6 % |
| Average Shares | 29.72 | 29.72 | - |
| EPS (Riyals) | 1.49 | 1.86 | 24.6 % |
The company attributed the increase of 2014’s net profit, compared to the same period last year, to increase of sales revenue, increase of other income, and decrease of selling and distribution expenses. However, there is an increase in the R&D expenses, general & administrative expenses, finance expenses and Zakat expense.
The decline of Q4-2014’s net loss compared to the same period last year was attributed to the increase of sales revenue, decrease of selling & distribution expenses. However, there was an increase in the R&D expenses, general & administrative expenses, Finance expenses and Zakat.
Reporting a net loss for Q4-2014 compared to a net profit for Q3-2014 was attributed to the decrease of other income (Gain on investments held for trading), decrease of sales revenue by 1.3% and the increase of the finance charge and Zakat.
Current Quarter Comparison (M)
| Item | Q4 2013 | Q4 2014 | Change |
|---|---|---|---|
| Revenues | 164.14 | 192.06 | 17.0 % |
| Gross Income | 11.42 | 32.66 | 186.0 % |
| Operating Income | (1.26) | 19.10 | 1622.1 % |
| Net Income | (1.47) | (0.76) | 48.3 % |
| Average Shares | 29.72 | 29.72 | - |
| EPS (Riyals) | (0.05) | (0.03) | 48.3 % |
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| Q1 2014 | 173.69 | (3.9 %) | 22.19 | (27.8 %) | 7.85 | (60.6 %) |
| Q2 2014 | 207.29 | 6.9 % | 29.48 | 12.4 % | 10.76 | (19.6 %) |
| Q3 2014 | 194.64 | 1.3 % | 35.61 | 32.1 % | 17.71 | 21.5 % |
| Q4 2014 | 192.06 | 17.0 % | 32.66 | 186.0 % | 19.10 | 1622.1 % |
| 2014 | 767.68 | 5.0 % | 121.29 | 27.3 % | 56.86 | 21.9 % |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS Before XO Items |
|---|---|---|---|---|---|---|
| Q1 2014 | 8.80 | (51.8 %) | 0.30 | 4.94 | 3.86 | 0.13 |
| Q2 2014 | 27.85 | 65.3 % | 0.94 | 22.11 | 5.74 | 0.19 |
| Q3 2014 | 19.44 | 80.4 % | 0.65 | 11.74 | 7.70 | 0.26 |
| Q4 2014 | (0.76) | 48.3 % | (0.03) | (19.23) | 18.47 | 0.62 |
| 2014 | 55.32 | 24.6 % | 1.86 | 19.56 | 35.77 | 1.20 |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| Q1 2014 | 11.99 % | 11.21 % | 1.83 % |
| Q2 2014 | 12.21 % | 11.41 % | 1.28 % |
| Q3 2014 | 13.34 % | 12.67 % | 1.47 % |
| Q4 2014 | 15.62 % | 15.46 % | 4.66 % |
| 2014 | 15.80 % | 15.65 % | 4.66 % |
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| Q1 2014 | 29.72 | 1.18 | 0.45 | 15.46 |
| Q2 2014 | 29.72 | 1.55 | 0.32 | 15.81 |
| Q3 2014 | 29.72 | 1.84 | 0.36 | 16.47 |
| Q4 2014 | 29.72 | 1.86 | 1.20 | 16.44 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| Q1 2014 | More than 100 | More than 100 | 7.99 |
| Q2 2014 | 99.03 | More than 100 | 9.68 |
| Q3 2014 | 92.19 | More than 100 | 10.29 |
| Q4 2014 | 77.83 | More than 100 | 8.81 |
Business Segments (Million)
Q4 2014
| Period | Polystyrene cups and lids and other related plastic products | Non- woven Fabrics | Thumbnail of preset BIT bottles (polyethylene terephthalate) |
|---|---|---|---|
| Q1 2014 | 67.35 | 61.02 | 45.32 |
| Q2 2014 | 76.50 | 79.64 | 51.15 |
| Q3 2014 | 65.97 | 83.05 | 45.62 |
| Q4 2014 | 103.83 | 88.24 | - |
| Current | |
| Market Cap (M Riyal) | 833.41 |
| Enterprise Value (EV) (M) | 1,285.49 |
| Shares Outstanding ((M)) | 76.46 |
| EPS ( Riyal) (TTM) | (2.38) |
| Book Value (BV) ( Riyal) | 5.78 |
| Par Value ( Riyal) | 10.00 |
| Adjusted P/E (Last12) | Neg |
| P/E (TTM) | NEG |
| Price/book | 1.89 |
| Return on Average Assets (%) (TTM) | (11.63 ) |
| Return on Average Equity (%) (TTM) | (41.64 ) |
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