Financial Results : Takween turns to SAR 19 mln profit in 2021, Q4 loss widens to SAR 31.3 mln

Takween turns to SAR 19 mln profit in 2021, Q4 loss widens to SAR 31.3 mln

23/02/2022 Argaam Exclusive

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Takween Advanced Industries Co. reported a net profit after Zakat and tax of SAR 19 million for 2021, versus net loss of SAR 6 million in year-earlier period.



Financials (M)

Item 2020 2021 Change‬
Revenues 754.18 838.56 11.2 %
Gross Income 57.41 51.92 (9.6 %)
Operating Income (31.87) (60.27) (89.1 %)
Net Income (6.01) 19.03 416.4 %
Average Shares 57.86 57.86 -
EPS (Riyals) (0.10) 0.33 416.4 %

This was driven by higher profit share from associates, improved revenue, and subdued financial charges, despite higher cost of revenue.

 

Total shareholders equity excluding minority rights rose 3.2% year-on-year (YoY) to SAR 606.968 million for 2021.



Current Quarter Comparison (M)

Compared With The
Item Q4 2020 Q4 2021 Change‬
Revenues 171.66 207.74 21.0 %
Gross Income 0.25 4.04 1498.0 %
Operating Income (15.85) (29.42) (85.7 %)
Net Income (3.40) (31.34) (823.2 %)
Average Shares 57.86 57.86 -
EPS (Riyals) (0.06) (0.54) (823.2 %)

Takween widened net loss to SAR 31.3 million for Q4 2021, from SAR 3.40 million in Q4 2020.

 

On a sequential basis, the company turned to losses in Q4 2021, versus SAR 40.34 million profit in Q3 2021.

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Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
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 %
Q3 2015 459.48 136.1 % 55.72 56.5 % 17.88 0.9 %
Q4 2015 362.65 88.8 % 17.16 (47.4 %) (21.39) (212.0 %)
Q1 2016 352.67 (15.9 %) 57.52 106.3 % 20.98 197.9 %
Q2 2016 403.97 (15.3 %) 78.13 1.3 % 31.46 (18.9 %)
Q3 2016 378.89 (17.5 %) 47.89 (14.1 %) 30.07 68.2 %
Q4 2016 280.07 (22.8 %) 18.03 5.1 % (46.91) (119.3 %)
Q1 2017 302.42 (14.2 %) 42.00 (27.0 %) 4.66 (77.8 %)
Q2 2017 331.85 (17.9 %) 37.28 (52.3 %) (1.84) (105.9 %)
Q3 2017 334.21 (11.8 %) 4.83 (89.9 %) (39.44) (231.2 %)
Q4 2017 262.02 (6.4 %) (21.77) (220.7 %) (82.33) (75.5 %)
Q1 2018 307.33 1.6 % 26.41 (37.1 %) (0.58) (112.5 %)
Q2 2018 374.91 13.0 % 47.45 27.3 % 13.39 827.4 %
Q3 2018 370.80 10.9 % 46.67 867.2 % 12.79 132.4 %
Q4 2018 290.72 11.0 % 7.86 136.1 % (20.78) 74.8 %
Q1 2019 303.47 (1.3 %) 32.98 24.9 % (0.43) 26.0 %
Q2 2019 319.15 (14.9 %) 30.74 (35.2 %) (2.83) (121.1 %)
Q3 2019 314.67 (15.1 %) 16.75 (64.1 %) (15.20) (218.9 %)
Q4 2019 252.16 (13.3 %) (8.54) (208.6 %) (34.37) (65.4 %)
Q1 2020 200.64 (33.9 %) 18.88 (42.7 %) (5.58) (1,191.4 %)
Q2 2020 198.54 (37.8 %) 20.36 (33.8 %) (1.46) 48.4 %
Q3 2020 183.34 (41.7 %) 17.91 6.9 % (8.90) 41.4 %
Q4 2020 171.66 (31.9 %) 0.25 103.0 % (15.85) 53.9 %
Q1 2021 186.31 (7.1 %) 11.63 (38.4 %) (12.66) (126.9 %)
Q2 2021 222.05 11.8 % 12.09 (40.6 %) (9.57) (555.1 %)
Q3 2021 222.45 21.3 % 24.14 34.8 % (8.62) 3.1 %
Q4 2021 207.74 21.0 % 4.04 1498.0 % (29.42) (85.7 %)
2021 838.56 11.2 % 51.92 (9.6 %) (60.27) (89.1 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
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
Q3 2015 (2.27) (111.7 %) (0.08) - (2.27) (0.08)
Q4 2015 (37.73) (4,865.0 %) (1.27) - (37.73) (1.27)
Q1 2016 1.88 112.1 % 0.06 - 1.88 0.06
Q2 2016 12.50 (55.4 %) 0.42 - 12.50 0.42
Q3 2016 4.35 291.2 % 0.15 - 4.35 0.15
Q4 2016 (80.82) (114.2 %) (1.40) (24.24) (56.59) (0.98)
Q1 2017 (8.91) (573.7 %) (0.15) - (8.91) (0.15)
Q2 2017 (12.67) (201.3 %) (0.22) - (12.67) (0.22)
Q3 2017 (49.09) (1229.6 %) (0.85) - (49.09) (0.85)
Q4 2017 (97.57) (20.7 %) (1.69) - (97.57) (1.69)
Q1 2018 (0.84) 90.6 % (0.01) - (0.84) (0.01)
Q2 2018 2.89 122.8 % 0.05 - 2.89 0.05
Q3 2018 0.44 100.9 % 0.01 - 0.44 0.01
Q4 2018 (42.23) 56.7 % (0.73) - (42.23) (0.73)
Q1 2019 (12.55) (1,401.0 %) (0.22) - (12.55) (0.22)
Q2 2019 (13.03) (550.6 %) (0.23) - (13.03) (0.23)
Q3 2019 (28.77) (6608.6 %) (0.50) - (28.77) (0.50)
Q4 2019 (42.37) (0.3 %) (0.73) (19.25) (23.12) (0.40)
Q1 2020 (18.79) (49.8 %) (0.32) - (18.79) (0.32)
Q2 2020 10.03 177.0 % 0.17 - 10.03 0.17
Q3 2020 6.14 121.4 % 0.11 - 6.14 0.11
Q4 2020 (3.40) 92.0 % (0.06) - (3.40) (0.06)
Q1 2021 2.16 111.5 % 0.04 - 2.16 0.04
Q2 2021 7.87 (21.5 %) 0.14 - 7.87 0.14
Q3 2021 40.34 556.6 % 0.70 53.12 (12.78) (0.22)
Q4 2021 (31.34) (823.2 %) (0.54) - (31.34) (0.54)
2021 19.03 416.4 % 0.33 53.12 (34.09) (0.59)

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
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 %
Q3 2015 12.50 % 11.18 % 0.94 %
Q4 2015 10.35 % 9.38 % (2.42 %)
Q1 2016 12.57 % 12.28 % (0.61 %)
Q2 2016 13.21 % 11.92 % (1.62 %)
Q3 2016 13.40 % 13.76 % (1.27 %)
Q4 2016 14.24 % 9.88 % (2.67 %)
Q1 2017 13.63 % 9.09 % (3.56 %)
Q2 2017 11.23 % 7.33 % (5.71 %)
Q3 2017 8.18 % 1.55 % (10.19 %)
Q4 2017 5.07 % 0.57 % (13.67 %)
Q1 2018 3.78 % (0.05 %) (12.96 %)
Q2 2018 4.45 % 0.37 % (11.31 %)
Q3 2018 7.51 % 3.11 % (7.23 %)
Q4 2018 9.55 % 7.55 % (2.96 %)
Q1 2019 10.07 % 7.29 % (3.84 %)
Q2 2019 9.21 % 6.51 % (5.25 %)
Q3 2019 7.19 % 5.33 % (7.86 %)
Q4 2019 6.05 % 4.79 % (6.51 %)
Q1 2020 5.32 % 4.65 % (7.70 %)
Q2 2020 4.91 % 5.31 % (6.28 %)
Q3 2020 5.83 % 6.61 % (3.08 %)
Q4 2020 7.61 % 9.11 % (0.80 %)
Q1 2021 6.78 % 7.35 % 2.02 %
Q2 2021 5.49 % 4.82 % 1.67 %
Q3 2021 6.00 % 3.43 % (0.77 %)
Q4 2021 6.19 % 0.99 % (4.07 %)
2021 6.19 % 0.99 % (4.07 %)


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
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
Q3 2015 29.72 0.32 0.49 16.57
Q4 2015 29.72 (0.92) (1.40) 15.31
Q1 2016 29.72 (0.34) (0.34) 15.51
Q2 2016 29.72 (0.86) (0.86) 15.77
Q3 2016 29.72 (0.64) (0.64) 16.07
Q4 2016 57.86 (1.07) (0.65) 15.78
Q1 2017 57.86 (1.26) (0.84) 15.63
Q2 2017 57.86 (1.69) (1.28) 15.41
Q3 2017 57.86 (2.62) (2.20) 14.58
Q4 2017 57.86 (2.91) (2.91) 12.79
Q1 2018 57.86 (2.77) (2.77) 12.42
Q2 2018 57.86 (2.50) (2.50) 12.46
Q3 2018 57.86 (1.64) (1.64) 12.47
Q4 2018 57.86 (0.69) (0.69) 11.81
Q1 2019 57.86 (0.89) (0.89) 11.62
Q2 2019 57.86 (1.16) (1.16) 11.42
Q3 2019 57.86 (1.67) (1.67) 10.93
Q4 2019 57.86 (1.67) (1.34) 10.25
Q1 2020 57.86 (1.78) (1.45) 9.94
Q2 2020 57.86 (1.38) (1.05) 10.09
Q3 2020 57.86 (0.78) (0.44) 10.21
Q4 2020 57.86 (0.10) (0.10) 10.17
Q1 2021 57.86 0.26 0.26 10.20
Q2 2021 57.86 0.22 0.22 10.34
Q3 2021 57.86 0.81 (0.11) 11.04
Q4 2021 57.86 0.33 (0.59) 10.49

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
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
Q3 2015 More than 100 More than 100 8.01
Q4 2015 NEG NEG 7.36
Q1 2016 NEG NEG 4.49
Q2 2016 NEG NEG 4.57
Q3 2016 NEG NEG 3.13
Q4 2016 NEG NEG 1.87
Q1 2017 NEG NEG 1.73
Q2 2017 NEG NEG 1.58
Q3 2017 NEG NEG 1.72
Q4 2017 NEG NEG 1.72
Q1 2018 NEG NEG 1.63
Q2 2018 NEG NEG 1.91
Q3 2018 NEG NEG 1.85
Q4 2018 NEG NEG 1.77
Q1 2019 NEG NEG 1.71
Q2 2019 NEG NEG 1.48
Q3 2019 NEG NEG 1.57
Q4 2019 NEG NEG 1.69
Q1 2020 NEG NEG 1.41
Q2 2020 NEG NEG 1.52
Q3 2020 NEG NEG 2.69
Q4 2020 NEG NEG 2.99
Q1 2021 More than 100 More than 100 3.71
Q2 2021 More than 100 More than 100 5.23
Q3 2021 58.35 NEG 4.29
Q4 2021 More than 100 NEG 3.70

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)
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 -
Q3 2015 383.72 75.76 -
Q4 2015 294.56 68.09 -
Q1 2016 291.51 61.16 -
Q2 2016 341.70 62.26 -
Q3 2016 318.71 60.18 -
Q4 2016 239.65 40.43 -
Q1 2017 251.03 51.39 -
Q2 2017 273.10 58.75 -
Q3 2017 273.72 58.14 -
Q4 2017 188.30 63.39 -
Q1 2018 236.50 70.83 -
Q2 2018 305.64 69.27 -
Q3 2018 287.77 83.03 -
Q4 2018 220.90 69.82 -
Q1 2019 230.44 73.03 -
Q2 2019 252.89 66.26 -
Q3 2019 250.41 64.27 -
Q4 2019 190.04 62.12 -
Q1 2020 200.64 73.38 -
Q2 2020 198.54 94.18 -
Q3 2020 183.34 104.89 -
Q4 2020 171.66 87.51 -


Financial Ratios
Current
Market Cap (M Riyal) 824.24
Enterprise Value (EV) (M) 1,276.31
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 1.86
Return on Average Assets (%) (TTM) (11.63 )
Return on Average Equity (%) (TTM) (41.64 )
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Share Price

Takween Advanced Industries Co.
10.78
0.08 0.75 %

Takween Advanced Industries Co. (TAKWEEN)

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