Financial Results : Takween’s H1 net profit plummets 66% to SAR 12.5 mln

Takween’s H1 net profit plummets 66% to SAR 12.5 mln

28/07/2015 Argaam Exclusive

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Takween Advanced Industries Company, a manufacturer of plastic packaging products and unwoven fabrics, reported a net profit of SAR 12.5 million for H1-2015, a 66 percent year-on-year decline on higher selling and distribution expenses, general and administrative expenses, as well as finance charges.



Financials (M)

Item 6m 2014 6m 2015 Change‬
Revenues 380.98 896.34 135.3 %
Gross Income 51.66 105.04 103.3 %
Operating Income 18.47 17.36 (6.0 %)
Net Income 36.64 12.55 (65.8 %)
Average Shares 29.72 29.72 -
EPS (Riyals) 1.23 0.42 (65.8 %)

 

The company reported a net profit of SAR 28.03 million in Q2, compared to a net loss of SAR 15.5 million in the previous quarter on lower selling and distribution expenses and other incomes. First quarter results had also included the acquisition cost of Savola packaging.



Current Quarter Comparison (M)

Compared With The
Item Q2 2014 Q2 2015 Change‬
Revenues 207.29 477.02 130.1 %
Gross Income 29.48 77.15 161.8 %
Operating Income 10.76 38.79 260.4 %
Net Income 27.85 28.03 0.7 %
Average Shares 29.72 29.72 -
EPS (Riyals) 0.94 0.94 0.7 %


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
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 150.26 - 26.15 - 17.07 -
Q2 2011 186.64 - 34.17 - 25.37 -
Q3 2011 190.40 - 33.42 - 22.08 -
Q4 2011 166.84 - 35.19 - 25.13 -
Q1 2012 148.90 (0.9 %) 27.08 3.6 % 16.63 (2.6 %)
Q2 2012 177.53 (4.9 %) 33.37 (2.3 %) 22.98 (9.4 %)
Q3 2012 183.00 (3.9 %) 33.41 0.0 % 22.32 1.1 %
Q4 2012 160.23 (4.0 %) 28.80 (18.2 %) 22.83 (9.2 %)
Q1 2013 180.66 21.3 % 30.71 13.4 % 19.94 19.9 %
Q2 2013 193.99 9.3 % 26.22 (21.4 %) 13.38 (41.8 %)
Q3 2013 192.23 5.0 % 26.96 (19.3 %) 14.57 (34.7 %)
Q4 2013 164.14 2.4 % 11.42 (60.3 %) (1.26) (105.5 %)
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 %
Q1 2015 419.32 141.4 % 27.89 25.7 % (21.42) (372.9 %)
Q2 2015 477.02 130.1 % 77.15 161.8 % 38.79 260.4 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
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 13.12 - 0.44 - 13.12 0.44
Q2 2011 22.06 - 0.74 - 22.06 0.74
Q3 2011 18.11 - 0.61 - 18.11 0.61
Q4 2011 22.87 - 0.77 - 22.87 0.77
Q1 2012 13.36 1.8 % 0.45 - 13.36 0.45
Q2 2012 21.15 (4.1 %) 0.71 - 21.15 0.71
Q3 2012 18.98 4.8 % 0.64 - 18.98 0.64
Q4 2012 21.83 (4.5 %) 0.73 - 21.83 0.73
Q1 2013 18.24 36.5 % 0.61 2.20 16.04 0.54
Q2 2013 16.85 (20.3 %) 0.57 7.30 9.55 0.32
Q3 2013 10.78 (43.2 %) 0.36 4.47 6.31 0.21
Q4 2013 (1.47) (106.7 %) (0.05) 4.97 (6.46) (0.22)
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
Q1 2015 (15.49) (276.0 %) (0.52) 14.17 (29.65) (1.00)
Q2 2015 28.03 0.7 % 0.94 - 28.03 0.94

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
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 - - -
Q4 2011 18.57 % 19.57 % 10.97 %
Q1 2012 18.75 % 19.53 % 11.03 %
Q2 2012 18.88 % 19.39 % 11.04 %
Q3 2012 19.08 % 19.64 % 11.29 %
Q4 2012 18.32 % 19.44 % 11.25 %
Q1 2013 18.00 % 19.21 % 11.12 %
Q2 2013 16.60 % 17.47 % 9.25 %
Q3 2013 15.50 % 16.19 % 7.39 %
Q4 2013 13.04 % 12.73 % 3.48 %
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 %
Q1 2015 12.40 % 10.83 % 0.22 %
Q2 2015 13.51 % 12.23 % 1.91 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
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 29.72 - - 11.99
Q2 2011 29.72 - - 12.73
Q3 2011 29.72 - - 13.34
Q4 2011 29.72 2.56 2.56 13.10
Q1 2012 29.72 2.57 2.57 13.55
Q2 2012 29.72 2.54 2.54 12.90
Q3 2012 29.72 2.57 2.57 13.54
Q4 2012 29.72 2.53 2.53 14.23
Q1 2013 29.72 2.70 2.62 14.84
Q2 2013 29.72 2.55 2.23 14.90
Q3 2013 29.72 2.28 1.81 15.27
Q4 2013 29.72 1.49 0.86 15.22
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
Q1 2015 29.72 1.04 0.08 15.77
Q2 2015 29.72 1.05 0.83 16.69

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
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 - - -
Q4 2011 - - -
Q1 2012 63.46 63.46 12.04
Q2 2012 41.50 41.50 8.17
Q3 2012 49.79 49.79 9.45
Q4 2012 44.76 44.76 7.97
Q1 2013 42.41 43.60 7.71
Q2 2013 48.04 54.91 8.23
Q3 2013 52.26 65.85 7.80
Q4 2013 78.48 More than 100 7.70
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
Q1 2015 More than 100 More than 100 12.12
Q2 2015 More than 100 More than 100 13.29

Business Segments (Million)

Compared With The
Period Polystyrene cups and lids and other related plastic products Non- woven Fabrics Thumbnail of preset BIT bottles (polyethylene terephthalate)
Q4 2010 41.72 67.54 38.25
Q1 2011 43.06 71.61 35.59
Q2 2011 60.95 73.94 51.74
Q3 2011 69.75 72.86 47.78
Q4 2011 58.65 69.10 39.08
Q1 2012 48.72 67.43 32.75
Q2 2012 67.45 60.71 49.37
Q3 2012 70.66 59.75 52.59
Q4 2012 56.30 62.99 40.93
Q1 2013 64.97 69.86 45.83
Q2 2013 70.83 65.93 57.23
Q3 2013 77.06 67.41 47.76
Q4 2013 68.04 63.45 32.66
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 -
Q1 2015 325.75 93.57 -
Q2 2015 388.58 88.44 -

Analysts Estimates (Million)

Item Q2 2015 (e) Q2 2015 (a) Change‬
Average 6.70 28.03 318.39 %

Estimates vs Actual (Million)

Item Q2 2015 (e) Q2 2015 (a) Change
OSOOL AND BAKHEET 6.70 28.03 318.4 %


Financial Ratios
Current
Market Cap (M Riyal) 838.00
Enterprise Value (EV) (M) 1,290.08
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 1.90
Return on Average Assets (%) (TTM) (11.63 )
Return on Average Equity (%) (TTM) (41.64 )
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Share Price

Takween Advanced Industries Co.
10.96
0.26 2.43 %

Takween Advanced Industries Co. (TAKWEEN)

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