Financial Results : Saudi Printing widens net loss to SAR 46.7 mln in 9M 2021

Saudi Printing widens net loss to SAR 46.7 mln in 9M 2021

08/11/2021 Argaam Exclusive

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Saudi Printing and Packaging Co. widened its net loss after Zakat and tax to SAR 46.7 million for the first nine months of 2021, from SAR 11.6 million in the same period a year earlier.

 

The company attributed the increase in net loss to lower sales and higher cost of raw materials.



Financials (M)

Item 9m 2020 9m 2021 Change‬
Revenues 598.35 571.26 (4.5 %)
Gross Income 101.59 63.35 (37.6 %)
Operating Income 14.07 (20.17) (243.3 %)
Net Income (11.60) (46.66) (302.4 %)
Average Shares 60.00 60.00 -
EPS (Riyals) (0.19) (0.78) (302.4 %)

The company turned into a net loss after Zakat and tax of SAR 17.8 million in Q3 2021, compared to a profit of SAR 1.8 million in the same quarter last year, due to due to higher cost of raw materials.

 

On a quarterly basis, the company widened its losses in Q3 2021 compared to a loss of SAR 15.4 million in Q2 2021.



Current Quarter Comparison (M)

Compared With The
Item Q3 2020 Q3 2021 Change‬
Revenues 204.45 203.61 (0.4 %)
Gross Income 38.23 19.14 (49.9 %)
Operating Income 8.54 (8.74) (202.4 %)
Net Income 1.82 (17.75) (1073.2 %)
Average Shares 60.00 60.00 -
EPS (Riyals) 0.03 (0.30) (1073.2 %)

Accumulated losses stood at SAR 52.8 million as of Sept. 30, 2021, representing 8.8% of the company’s SAR 600 million capital.

 

Total shareholders’ equity reached SAR 655.5 million at the end of September 2021, declining from SAR 712.3 million in the same period last year.

 

View more financial results

 


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2012 102.60 4.5 % 19.78 4.6 % 10.53 8.7 %
Q2 2012 111.50 (6.2 %) 21.50 (8.5 %) 12.18 (19.3 %)
Q3 2012 277.42 198.9 % 56.49 223.5 % 28.13 251.3 %
Q4 2012 274.38 200.9 % 53.01 236.6 % 16.38 166.4 %
Q1 2013 272.94 166.0 % 57.72 191.8 % 26.51 151.7 %
Q2 2013 279.63 150.8 % 63.34 194.6 % 30.56 151.0 %
Q3 2013 293.68 5.9 % 60.32 6.8 % 25.82 (8.2 %)
Q4 2013 295.51 7.7 % 53.46 0.9 % 13.62 (16.8 %)
Q1 2014 285.53 4.6 % 59.64 3.3 % 21.44 (19.1 %)
Q2 2014 327.40 17.1 % 68.59 8.3 % 23.11 (24.4 %)
Q3 2014 316.65 7.8 % 57.85 (4.1 %) 14.86 (42.4 %)
Q4 2014 303.01 2.5 % 58.66 9.7 % 9.25 (32.1 %)
Q1 2015 282.77 (1.0 %) 61.95 3.9 % 13.03 (39.2 %)
Q2 2015 291.81 (10.9 %) 68.07 (0.8 %) 25.06 8.4 %
Q3 2015 257.88 (18.6 %) 55.98 (3.2 %) 8.61 (42.0 %)
Q4 2015 275.30 (9.1 %) 46.35 (21.0 %) (9.96) (207.7 %)
Q1 2016 254.40 (10.0 %) 55.46 (10.5 %) 10.50 (19.4 %)
Q2 2016 259.38 (11.1 %) 55.65 (18.2 %) 11.82 (52.8 %)
Q3 2016 251.33 (2.5 %) 40.49 (27.7 %) (0.34) (103.9 %)
Q4 2016 240.29 (12.7 %) 37.63 (18.8 %) (15.92) (59.8 %)
Q1 2017 242.31 (4.8 %) 40.33 (27.3 %) (3.67) (134.9 %)
Q2 2017 253.08 (2.4 %) 40.06 (28.0 %) 2.63 (77.8 %)
Q3 2017 251.48 0.1 % 41.74 3.1 % 7.18 2223.4 %
Q4 2017 244.81 1.9 % 35.16 (6.6 %) (5.35) 66.4 %
Q1 2018 202.57 (16.4 %) 25.02 (38.0 %) (6.05) (65.1 %)
Q2 2018 256.11 1.2 % 37.75 (5.8 %) 6.25 137.8 %
Q3 2018 276.34 9.9 % 30.63 (26.6 %) 0.39 (94.6 %)
Q4 2018 283.47 15.8 % 30.51 (13.2 %) (3.48) 35.0 %
Q1 2019 202.04 (0.3 %) 21.16 (15.4 %) (8.75) (44.6 %)
Q2 2019 237.62 (7.2 %) 29.23 (22.6 %) (0.44) (107.1 %)
Q3 2019 252.51 (8.6 %) 46.06 50.4 % 15.18 3791.3 %
Q4 2019 232.17 (18.1 %) 34.62 13.5 % 0.97 127.8 %
Q1 2020 194.27 (3.8 %) 26.89 27.1 % (3.05) 65.2 %
Q2 2020 199.63 (16.0 %) 37.40 28.0 % 8.58 2041.0 %
Q3 2020 204.45 (19.0 %) 38.23 (17.0 %) 8.54 (43.7 %)
Q4 2020 169.34 (27.1 %) 25.83 (25.4 %) (0.11) (111.7 %)
Q1 2021 173.44 (10.7 %) 22.87 (14.9 %) (5.17) (69.7 %)
Q2 2021 194.21 (2.7 %) 21.34 (42.9 %) (6.26) (172.9 %)
Q3 2021 203.61 (0.4 %) 19.14 (49.9 %) (8.74) (202.4 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2012 8.13 6.5 % 0.14 - 8.13 0.14
Q2 2012 10.38 (17.2 %) 0.17 - 10.38 0.17
Q3 2012 20.03 222.9 % 0.33 - 20.03 0.33
Q4 2012 86.02 792.6 % 1.43 77.00 9.02 0.15
Q1 2013 13.71 68.6 % 0.23 - 13.71 0.23
Q2 2013 20.19 94.5 % 0.34 - 20.19 0.34
Q3 2013 14.42 (28.0 %) 0.24 - 14.42 0.24
Q4 2013 0.64 (99.3 %) 0.01 - 0.64 0.01
Q1 2014 9.46 (31.0 %) 0.16 0.40 9.06 0.15
Q2 2014 12.50 (38.1 %) 0.21 - 12.50 0.21
Q3 2014 12.07 (16.3 %) 0.20 - 12.07 0.20
Q4 2014 4.85 659.7 % 0.08 25.13 (20.28) (0.34)
Q1 2015 11.61 22.7 % 0.19 10.30 1.31 0.02
Q2 2015 28.21 125.7 % 0.47 14.68 13.53 0.23
Q3 2015 10.89 (9.8 %) 0.18 16.47 (5.58) (0.09)
Q4 2015 (29.74) (713.7 %) (0.50) (13.20) (16.54) (0.28)
Q1 2016 3.82 (67.1 %) 0.06 5.71 (1.89) (0.03)
Q2 2016 0.39 (98.6 %) 0.01 1.41 (1.02) (0.02)
Q3 2016 (11.51) (205.6 %) (0.19) - (11.51) (0.19)
Q4 2016 (26.16) 12.1 % (0.44) - (26.16) (0.44)
Q1 2017 (15.80) (514.2 %) (0.26) - (15.80) (0.26)
Q2 2017 (12.81) (3385.4 %) (0.21) - (12.81) (0.21)
Q3 2017 (4.58) 60.2 % (0.08) - (4.58) (0.08)
Q4 2017 (36.26) (38.6 %) (0.60) (20.31) (15.96) (0.27)
Q1 2018 (18.66) (18.1 %) (0.31) - (18.66) (0.31)
Q2 2018 (3.07) 76.1 % (0.05) - (3.07) (0.05)
Q3 2018 (11.83) (158.6 %) (0.20) - (11.83) (0.20)
Q4 2018 (20.81) 42.6 % (0.35) - (20.81) (0.35)
Q1 2019 (23.02) (23.4 %) (0.38) - (23.02) (0.38)
Q2 2019 (13.69) (346.6 %) (0.23) - (13.69) (0.23)
Q3 2019 2.71 122.9 % 0.05 - 2.71 0.05
Q4 2019 (4.76) 77.1 % (0.08) 7.42 (12.18) (0.20)
Q1 2020 (14.91) 35.2 % (0.25) - (14.91) (0.25)
Q2 2020 1.49 110.9 % 0.02 - 1.49 0.02
Q3 2020 1.82 (32.6 %) 0.03 - 1.82 0.03
Q4 2020 (8.95) (88.0 %) (0.15) - (8.95) (0.15)
Q1 2021 (13.56) 9.1 % (0.23) - (13.56) (0.23)
Q2 2021 (15.35) (1128.3 %) (0.26) - (15.35) (0.26)
Q3 2021 (17.75) (1073.2 %) (0.30) - (17.75) (0.30)

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2012 18.87 % 16.72 % 9.00 %
Q2 2012 18.71 % 16.48 % 8.63 %
Q3 2012 19.48 % 16.02 % 8.27 %
Q4 2012 19.69 % 14.73 % 6.21 %
Q1 2013 20.16 % 14.67 % 5.68 %
Q2 2013 20.88 % 14.87 % 5.70 %
Q3 2013 20.91 % 14.56 % 5.12 %
Q4 2013 20.57 % 14.15 % 4.29 %
Q1 2014 20.51 % 13.73 % 3.84 %
Q2 2014 20.13 % 12.73 % 3.05 %
Q3 2014 19.55 % 11.82 % 2.80 %
Q4 2014 19.86 % 11.55 % 1.08 %
Q1 2015 20.09 % 10.94 % 0.46 %
Q2 2015 20.64 % 11.57 % 0.56 %
Q3 2015 21.55 % 11.40 % (0.97 %)
Q4 2015 20.98 % 10.00 % (0.66 %)
Q1 2016 20.93 % 10.03 % (0.97 %)
Q2 2016 20.39 % 9.10 % (2.39 %)
Q3 2016 19.03 % 8.58 % (2.98 %)
Q4 2016 18.82 % 8.52 % (4.04 %)
Q1 2017 17.53 % 7.41 % (5.48 %)
Q2 2017 16.06 % 6.54 % (6.71 %)
Q3 2017 16.18 % 7.34 % (6.01 %)
Q4 2017 15.86 % 8.23 % (4.96 %)
Q1 2018 14.91 % 8.18 % (5.46 %)
Q2 2018 14.63 % 8.59 % (4.43 %)
Q3 2018 13.12 % 7.69 % (5.05 %)
Q4 2018 12.17 % 7.46 % (5.34 %)
Q1 2019 11.79 % 7.11 % (5.77 %)
Q2 2019 11.16 % 6.08 % (6.94 %)
Q3 2019 13.01 % 7.61 % (5.62 %)
Q4 2019 14.18 % 8.86 % (5.00 %)
Q1 2020 14.93 % 9.56 % (4.15 %)
Q2 2020 16.50 % 10.40 % (2.61 %)
Q3 2020 16.51 % 9.85 % (2.86 %)
Q4 2020 16.72 % 9.27 % (2.68 %)
Q1 2021 16.65 % 8.37 % (2.57 %)
Q2 2021 14.60 % 6.65 % (4.86 %)
Q3 2021 12.04 % 3.99 % (7.51 %)


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2012 60.00 0.61 0.61 12.19
Q2 2012 60.00 0.57 0.57 12.36
Q3 2012 60.00 0.80 0.80 12.69
Q4 2012 60.00 2.08 0.79 14.13
Q1 2013 60.00 2.17 0.89 13.82
Q2 2013 60.00 2.33 1.05 14.17
Q3 2013 60.00 2.24 0.96 14.41
Q4 2013 60.00 0.82 0.82 14.44
Q1 2014 60.00 0.75 0.74 14.59
Q2 2014 60.00 0.62 0.61 14.80
Q3 2014 60.00 0.58 0.57 15.00
Q4 2014 60.00 0.65 0.22 15.20
Q1 2015 60.00 0.68 0.09 15.39
Q2 2015 60.00 0.95 0.11 15.86
Q3 2015 60.00 0.93 (0.18) 16.04
Q4 2015 60.00 0.35 (0.12) 15.56
Q1 2016 60.00 0.22 (0.17) 15.49
Q2 2016 60.00 (0.24) (0.42) 15.50
Q3 2016 60.00 (0.62) (0.52) 15.33
Q4 2016 60.00 (0.56) (0.68) 14.90
Q1 2017 60.00 (0.88) (0.91) 14.62
Q2 2017 60.00 (1.10) (1.10) 14.41
Q3 2017 60.00 (0.99) (0.99) 14.33
Q4 2017 60.00 (1.16) (0.82) 13.69
Q1 2018 60.00 (1.21) (0.87) 13.38
Q2 2018 60.00 (1.04) (0.70) 13.32
Q3 2018 60.00 (1.16) (0.83) 13.13
Q4 2018 60.00 (0.91) (0.91) 12.59
Q1 2019 60.00 (0.98) (0.98) 12.19
Q2 2019 60.00 (1.16) (1.16) 11.98
Q3 2019 60.00 (0.91) (0.91) 12.01
Q4 2019 60.00 (0.65) (0.77) 12.07
Q1 2020 60.00 (0.51) (0.63) 11.81
Q2 2020 60.00 (0.26) (0.38) 11.84
Q3 2020 60.00 (0.27) (0.40) 11.87
Q4 2020 60.00 (0.34) (0.34) 11.71
Q1 2021 60.00 (0.32) (0.32) 11.48
Q2 2021 60.00 (0.60) (0.60) 11.22
Q3 2021 60.00 (0.93) (0.93) 10.93

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2012 48.16 48.16 2.40
Q2 2012 46.46 46.46 2.15
Q3 2012 44.09 44.09 2.79
Q4 2012 17.82 46.68 2.62
Q1 2013 16.60 40.65 2.60
Q2 2013 16.34 36.32 2.69
Q3 2013 10.27 24.07 1.60
Q4 2013 29.23 29.23 1.65
Q1 2014 31.88 32.16 1.63
Q2 2014 41.25 41.71 1.72
Q3 2014 45.67 46.21 1.76
Q4 2014 28.86 84.04 1.23
Q1 2015 26.70 More than 100 1.19
Q2 2015 18.93 More than 100 1.13
Q3 2015 15.64 NEG 0.90
Q4 2015 75.25 NEG 1.69
Q1 2016 92.58 NEG 1.31
Q2 2016 NEG NEG 1.25
Q3 2016 NEG NEG 0.76
Q4 2016 NEG NEG 1.35
Q1 2017 NEG NEG 1.17
Q2 2017 NEG NEG 1.00
Q3 2017 NEG NEG 1.62
Q4 2017 NEG NEG 1.47
Q1 2018 NEG NEG 1.43
Q2 2018 NEG NEG 1.47
Q3 2018 NEG NEG 1.30
Q4 2018 NEG NEG 1.29
Q1 2019 NEG NEG 1.32
Q2 2019 NEG NEG 1.17
Q3 2019 NEG NEG 1.08
Q4 2019 NEG NEG 1.08
Q1 2020 NEG NEG 0.88
Q2 2020 NEG NEG 1.11
Q3 2020 NEG NEG 1.73
Q4 2020 NEG NEG 2.10
Q1 2021 NEG NEG 2.14
Q2 2021 NEG NEG 2.78
Q3 2021 NEG NEG 2.45

Business Segments (Million)

Compared With The
Period packing and packaging Printing Other sectors & Investment activities elimination
Q1 2012 29.69 72.91 - -
Q2 2012 30.51 80.99 - -
Q3 2012 206.27 71.15 - -
Q4 2012 216.41 57.98 - -
Q1 2013 216.79 56.15 - -
Q2 2013 222.49 57.14 - -
Q3 2013 242.49 51.19 - -
Q4 2013 242.09 53.41 - -
Q1 2014 235.63 49.90 - -
Q2 2014 269.22 58.18 - -
Q3 2014 262.24 54.42 - -
Q4 2014 244.76 57.97 - -
Q1 2015 235.46 47.31 - -
Q2 2015 236.52 55.29 - -
Q3 2015 221.53 36.35 - -
Q4 2015 204.76 70.54 - -
Q1 2016 208.55 47.30 - (1.45)
Q2 2016 214.83 47.79 - (3.25)
Q3 2016 197.67 57.99 - (4.33)
Q4 2016 188.44 49.00 - -
Q1 2017 197.04 46.58 - (1.31)
Q2 2017 216.03 44.79 - (7.74)
Q3 2017 186.12 70.43 - (5.08)
Q4 2017 179.00 51.68 - -
Q1 2018 176.21 30.72 - (4.36)
Q2 2018 207.48 57.96 - (9.32)
Q3 2018 205.97 76.22 - (5.85)
Q4 2018 196.35 116.63 - (29.51)
Q1 2019 185.95 19.62 - (3.53)
Q2 2019 201.26 43.41 - (7.06)
Q3 2019 192.48 71.83 - (11.79)
Q4 2019 163.90 64.62 - 3.65
Q1 2020 176.92 17.89 - (0.55)
Q2 2020 167.22 46.42 - (14.01)
Q3 2020 155.72 59.97 - (11.24)
Q4 2020 130.68 24.14 - 14.52
Q1 2021 160.94 12.77 - (0.27)
Q2 2021 192.96 13.99 - (12.74)
Q3 2021 186.68 24.11 - (7.19)


Financial Ratios
Current
Market Cap (M Riyal) 771.60
Enterprise Value (EV) (M) 1,519.11
Shares Outstanding ((M)) 60.00
EPS ( Riyal) (TTM) (3.44)
Book Value (BV) ( Riyal) 6.17
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 2.08
Return on Average Assets (%) (TTM) (13.54 )
Return on Average Equity (%) (TTM) (43.41 )
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Share Price

Saudi Printing and Packaging Co.
12.86
(0.36) (2.72 %)

Saudi Printing and Packaging Co. (SPPC)

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