Financial Results : Takween narrows loss to SAR 4M in Q1 2024

Takween narrows loss to SAR 4M in Q1 2024

30/04/2024 Argaam Exclusive

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Takween Advanced Industries Co. trimmed Q1 2024 net loss to SAR 4 million, compared to SAR 25.8 million in the prior-year period.



Current Quarter Comparison (M)

Compared With The
Item Q1 2023 Q1 2024 Change‬
Revenues 232.62 183.14 (21.3 %)
Gross Income 15.15 27.10 78.8 %
Operating Income (8.01) 10.88 235.9 %
Net Income (25.76) (4.00) 84.5 %
Average Shares 54.59 68.58 25.6 %
EPS (Riyals) (0.47) (0.06) 87.6 %

This was driven by the decline in revenue costs, along with lower administrative, general, selling and marketing expenses. In addition, losses of associate companies edged down and other revenues rose.

 

Meanwhile, Takween noted an increase in financing costs.

 

On a sequential basis, net loss shrank from SAR 137.2 million in Q4 2023.

 

Total shareholders’ equity, no minority interest, stood at SAR 467.16 million by March 31, 2024, compared to SAR 401.54 million in the year-earlier period.

 

Accumulated losses reached SAR 225.79 million by March 31, 2024, accounting for 29.53% of the company’s capital.

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Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
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 %)
Q1 2022 249.65 34.0 % 20.68 77.7 % (3.72) 70.6 %
Q2 2022 286.25 28.9 % 16.54 36.8 % (4.44) 53.6 %
Q3 2022 273.99 23.2 % 11.99 (50.3 %) (10.56) (22.6 %)
Q4 2022 235.51 13.4 % (16.66) (512.1 %) (98.33) (234.2 %)
Q1 2023 232.62 (6.8 %) 15.15 (26.7 %) (8.01) (115.2 %)
Q2 2023 217.61 (24.0 %) 8.39 (49.3 %) (14.48) (225.8 %)
Q3 2023 194.71 (28.9 %) 5.03 (58.0 %) (14.57) (37.9 %)
Q4 2023 173.23 (26.4 %) (27.68) (66.1 %) (117.65) (19.6 %)
Q1 2024 183.14 (21.3 %) 27.10 78.8 % 10.88 235.9 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
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)
Q1 2022 (8.98) (516.1 %) (0.16) - (8.98) (0.16)
Q2 2022 (14.99) (290.4 %) (0.26) - (14.99) (0.26)
Q3 2022 (21.89) (154.3 %) (0.38) - (21.89) (0.38)
Q4 2022 (113.07) (260.7 %) (1.95) - (113.07) (1.95)
Q1 2023 (25.76) (187.0 %) (0.47) - (25.76) (0.47)
Q2 2023 (30.07) (100.6 %) (0.55) - (30.07) (0.55)
Q3 2023 (30.31) (38.5 %) (0.52) - (30.31) (0.52)
Q4 2023 (137.20) (21.3 %) (2.37) - (137.20) (2.37)
Q1 2024 (4.00) 84.5 % (0.06) - (4.00) (0.06)

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
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 %)
Q1 2022 6.76 % 1.60 % (5.01 %)
Q2 2022 6.77 % 2.08 % (7.05 %)
Q3 2022 5.23 % 1.72 % (7.59 %)
Q4 2022 3.11 % (5.36 %) (15.20 %)
Q1 2023 2.63 % (6.06 %) (17.09 %)
Q2 2023 1.97 % (7.87 %) (19.88 %)
Q3 2023 1.35 % (9.29 %) (22.62 %)
Q4 2023 0.11 % (12.76 %) (27.30 %)
Q1 2024 1.67 % (11.60 %) (26.22 %)


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
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
Q1 2022 57.86 0.14 (0.78) 10.29
Q2 2022 57.86 (0.26) (1.18) 9.92
Q3 2022 57.86 (1.33) (1.33) 9.52
Q4 2022 57.86 (2.75) (2.75) 7.51
Q1 2023 54.59 (3.22) (3.22) 7.36
Q2 2023 54.59 (3.49) (3.49) 6.80
Q3 2023 57.86 (3.44) (3.44) 5.90
Q4 2023 57.86 (3.86) (3.86) 3.52
Q1 2024 68.58 (2.94) (2.94) 6.11

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
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
Q1 2022 More than 100 NEG 3.51
Q2 2022 NEG NEG 2.62
Q3 2022 NEG NEG 2.53
Q4 2022 NEG NEG 2.60
Q1 2023 NEG NEG 2.89
Q2 2023 NEG NEG 3.30
Q3 2023 NEG NEG 2.86
Q4 2023 NEG NEG 4.60
Q1 2024 NEG NEG 2.09

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 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) 810.48
Enterprise Value (EV) (M) 1,262.55
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 1.83
Return on Average Assets (%) (TTM) (11.63 )
Return on Average Equity (%) (TTM) (41.64 )
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Share Price

Takween Advanced Industries Co.
10.60
(0.16) (1.49 %)

Takween Advanced Industries Co. (TAKWEEN)

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