Zahrat Al Waha net profit dips 10% in 9M 2017
23/10/2017
Argaam Exclusive
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Zahrat Al Waha For Trading Co. reported a net profit of SAR 46.4 million in the first nine months of 2017, a 10 percent year-on-year (YoY) decrease, attributed to higher costs of goods sold (COGS), increased prices of raw materials and higher power tariffs. Also, selling and marketing expenses increased during the quarter.
Financials (M)
| Item | 9m 2016 | 9m 2017 | Change |
|---|---|---|---|
| Revenues | 244.80 | 334.79 | 36.8 % |
| Gross Income | 66.90 | 67.39 | 0.7 % |
| Operating Income | 58.68 | 55.50 | (5.4 %) |
| Net Income | 51.55 | 46.44 | (9.9 %) |
| Average Shares | 22.50 | 22.50 | - |
| EPS (Riyals) | 2.29 | 2.06 | (9.9 %) |
Q3 net profit rose 3.5 percent YoY to SAR 17.1 million due to a 36 percent leap in sales, lower administrative expenses and decreased costs of finance.
Compared to the previous quarter, Q3 net earnings was slightly higher.
Compared With The
Current Quarter Comparison (M)
| Item | Q3 2016 | Q3 2017 | Change |
|---|---|---|---|
| Revenues | 89.69 | 121.75 | 35.8 % |
| Gross Income | 22.80 | 22.65 | (0.7 %) |
| Operating Income | 19.74 | 17.33 | (12.2 %) |
| Net Income | 16.60 | 17.17 | 3.5 % |
| Average Shares | 22.50 | 22.50 | - |
| EPS (Riyals) | 0.74 | 0.76 | 3.5 % |
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| Q1 2017 | 84.28 | - | 18.85 | - | 15.28 | - |
| Q2 2017 | 128.76 | - | 25.89 | - | 22.90 | - |
| Q3 2017 | 121.75 | 35.8 % | 22.65 | (0.7 %) | 17.33 | (12.2 %) |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS Before XO Items |
|---|---|---|---|---|---|---|
| Q1 2017 | 12.06 | - | 0.54 | - | 12.06 | 0.54 |
| Q2 2017 | 17.21 | - | 0.76 | - | 17.21 | 0.76 |
| Q3 2017 | 17.17 | 3.5 % | 0.76 | - | 17.17 | 0.76 |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| Q1 2017 | - | - | - |
| Q2 2017 | 21.41 % | 22.03 % | 13.53 % |
| Q3 2017 | 19.69 % | 21.09 % | 12.61 % |
Compared With The
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| Q1 2017 | 22.50 | - | - | 6.86 |
| Q2 2017 | 22.50 | 2.11 | 2.27 | 7.62 |
| Q3 2017 | 22.50 | 2.14 | 2.29 | 8.39 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| Q1 2017 | - | - | - |
| Q2 2017 | - | - | - |
| Q3 2017 | 16.70 | 15.57 | 4.26 |
Business Segments (Million)
Q3 2017
| Period | Flasks sector | Plastic covers sector |
|---|---|---|
| Q1 2017 | 75.83 | 8.45 |
| Q2 2017 | 110.81 | 17.95 |
| Q3 2017 | 100.76 | 20.99 |
| Current | |
| Market Cap (M Riyal) | 758.25 |
| Enterprise Value (EV) (M) | 947.35 |
| Shares Outstanding ((M)) | 22.50 |
| EPS ( Riyal) (TTM) | 1.03 |
| Book Value (BV) ( Riyal) | 12.97 |
| Par Value ( Riyal) | 10.00 |
| Adjusted P/E (Last12) | 31.24 |
| P/E (TTM) | 32.72 |
| Price/book | 2.60 |
| Return on Average Assets (%) (TTM) | 4.1 |
| Return on Average Equity (%) (TTM) | 7.8 |
Share Price
Zahrat Al Waha for Trading Co. (OASIS)
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