Etihad Atheeb posts SAR 85.46 mln loss for 9-month period ending Dec

14/01/2016 Argaam Exclusive

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Etihad Atheeb Telecommunication Company (ATHEEB TELECOM)

 

Etihad Atheeb Telecommunication (Go), which offers fixed line services in Saudi Arabia, reported higher losses at SAR 85.46 million for the nine-month period ending December 2015, against a loss of SAR 22.52 million in the same period in 2014. 



Financials (M)

Item 9m 2014 9m 2015 Change‬
Revenues 173.67 246.13 41.7 %
Gross Income 19.19 23.38 21.8 %
Operating Income (228.58) (218.55) 4.4 %
Net Income (22.52) (85.46) (279.5 %)
Average Shares 29.62 29.62 -
EPS (Riyals) (0.76) (2.88) (279.5 %)

 

The company added that its accumulated losses amounted to SAR 1.031 billion, representing 65.46 percent of its capital.



Current Quarter Comparison (M)

Compared With The
Item Q3 2014 Q3 2015 Change‬
Revenues 60.48 86.75 43.4 %
Gross Income 8.79 4.49 (48.9 %)
Operating Income (80.18) (74.99) 6.5 %
Net Income (47.67) (48.87) (2.5 %)
Average Shares 29.62 29.62 -
EPS (Riyals) (1.61) (1.65) (2.5 %)


Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Riyal)
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 - - - - (33.80) - (5.47)
Q2 2009 - - - - (47.60) - (7.70)
Q3 2009 - - (2.10) - (66.85) - (10.81)
Q4 2009 35.44 - (47.41) - (230.80) - (37.32)
Q1 2010 42.23 - (38.63) - (160.81) (375.8 %) (26.00)
Q2 2010 46.81 - (35.29) - (146.35) (207.5 %) (23.67)
Q3 2010 48.15 - (33.09) (1,475.9 %) (145.88) (118.2 %) (23.59)
Q4 2010 49.38 39.3 % (16.21) 65.8 % (122.10) 47.1 % (19.75)
Q1 2011 60.27 42.7 % 0.32 100.8 % (98.81) 38.6 % (15.98)
Q2 2011 58.39 24.7 % 3.62 110.3 % (85.39) 41.7 % (13.81)
Q3 2011 61.32 27.4 % 12.59 138.1 % 205.96 241.2 % 33.31
Q4 2011 66.92 35.5 % 19.69 221.4 % (68.23) 44.1 % (11.03)
Q1 2012 68.58 13.8 % 11.02 3321.4 % (79.42) 19.6 % (2.68)
Q2 2012 67.84 16.2 % 12.71 250.9 % (78.91) 7.6 % (2.66)
Q3 2012 69.65 13.6 % 12.68 0.7 % (84.41) (141.0 %) (2.85)
Q4 2012 60.43 (9.7 %) 13.41 (31.9 %) (36.35) 46.7 % (1.23)
Q1 2013 58.09 (15.3 %) 9.96 (9.6 %) (68.97) 13.2 % (2.33)
Q2 2013 54.99 (18.9 %) 10.47 (17.6 %) (43.25) 45.2 % (1.46)
Q3 2013 63.76 (8.5 %) 7.89 (37.8 %) (67.60) 19.9 % (2.28)
Q4 2013 57.70 (4.5 %) 4.12 (69.3 %) (69.46) (91.1 %) (2.34)
Q1 2014 61.99 6.7 % 6.16 (38.2 %) 60.43 187.6 % 2.04
Q2 2014 51.21 (6.9 %) 4.24 (59.5 %) (35.28) 18.4 % (1.19)
Q3 2014 60.48 (5.1 %) 8.79 11.5 % (47.67) 29.5 % (1.61)
Q4 2014 73.43 27.3 % 10.01 143.2 % (33.73) 51.4 % (1.14)
Q1 2015 83.33 34.4 % 9.71 57.7 % (40.16) (166.4 %) (1.36)
Q2 2015 76.05 48.5 % 9.17 116.4 % 3.57 110.1 % 0.12
Q3 2015 86.75 43.4 % 4.49 (48.9 %) (48.87) (2.5 %) (1.65)

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 (89.45 %) (255.37 %) (396.11 %)
Q4 2010 (66.05 %) (172.87 %) (308.27 %)
Q1 2011 (41.19 %) (123.81 %) (250.80 %)
Q2 2011 (20.98 %) (88.36 %) (209.16 %)
Q3 2011 0.14 % (58.26 %) (169.25 %)
Q4 2011 14.67 % (37.34 %) (135.41 %)
Q1 2012 18.38 % (31.27 %) (123.40 %)
Q2 2012 21.16 % (30.03 %) (116.55 %)
Q3 2012 20.55 % (29.94 %) (113.92 %)
Q4 2012 18.69 % (31.24 %) (104.73 %)
Q1 2013 19.05 % (31.39 %) (104.93 %)
Q2 2013 19.13 % (28.40 %) (103.43 %)
Q3 2013 17.59 % (25.77 %) (98.92 %)
Q4 2013 13.83 % (28.77 %) (114.18 %)
Q1 2014 12.01 % (28.98 %) (112.74 %)
Q2 2014 9.55 % (36.85 %) (116.94 %)
Q3 2014 10.07 % (43.48 %) (123.60 %)
Q4 2014 11.82 % (38.11 %) (120.27 %)
Q1 2015 12.20 % (37.20 %) (111.94 %)
Q2 2015 12.85 % (33.11 %) (104.27 %)
Q3 2015 10.45 % (29.51 %) (94.74 %)


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 6.18 - - 146.90
Q2 2009 6.18 - - 139.20
Q3 2009 6.18 - - 128.39
Q4 2009 6.18 (61.30) (61.30) 100.43
Q1 2010 6.18 (81.84) (81.84) 74.42
Q2 2010 6.18 (97.80) (97.80) 50.75
Q3 2010 6.18 (110.59) (110.59) 27.16
Q4 2010 6.18 (93.01) (93.01) 7.41
Q1 2011 6.18 (82.98) (82.98) (8.57)
Q2 2011 6.18 (73.12) (73.12) (22.38)
Q3 2011 6.18 (16.23) (62.78) 10.93
Q4 2011 6.18 (7.51) (54.06) (0.10)
Q1 2012 29.62 (0.91) (10.63) 36.96
Q2 2012 29.62 (0.70) (10.41) 34.30
Q3 2012 29.62 (10.50) (10.50) 31.45
Q4 2012 29.62 (9.42) (9.42) 31.60
Q1 2013 29.62 (9.07) (9.07) 29.27
Q2 2013 29.62 (7.86) (8.49) 27.81
Q3 2013 29.62 (7.30) (7.92) 25.53
Q4 2013 29.62 (8.41) (9.04) 23.18
Q1 2014 29.62 (4.05) (9.07) 25.22
Q2 2014 29.62 (3.78) (9.26) 24.03
Q3 2014 29.62 (3.10) (9.65) 22.42
Q4 2014 29.62 (1.90) (10.03) 21.27
Q1 2015 29.62 (5.29) (10.14) 19.91
Q2 2015 29.62 (3.98) (10.32) 20.01
Q3 2015 29.62 (4.02) (10.22) 18.35

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 - - 4.50
Q2 2009 - - 5.79
Q3 2009 - - 6.53
Q4 2009 NEG NEG 7.49
Q1 2010 NEG NEG 10.86
Q2 2010 NEG NEG 13.68
Q3 2010 NEG NEG 25.91
Q4 2010 NEG NEG 95.88
Q1 2011 NEG NEG (36.99)
Q2 2011 NEG NEG (16.14)
Q3 2011 NEG NEG 33.03
Q4 2011 NEG NEG (3511.00)
Q1 2012 NEG NEG 3.58
Q2 2012 NEG NEG 2.50
Q3 2012 NEG NEG 2.60
Q4 2012 NEG NEG 2.46
Q1 2013 NEG NEG 2.59
Q2 2013 NEG NEG 3.43
Q3 2013 NEG NEG 3.38
Q4 2013 NEG NEG 3.78
Q1 2014 NEG NEG 4.11
Q2 2014 NEG NEG 3.27
Q3 2014 NEG NEG 3.04
Q4 2014 NEG NEG 1.93
Q1 2015 NEG NEG 1.96
Q2 2015 NEG NEG 2.00
Q3 2015 NEG NEG 1.74

Business Segments (Million)

Compared With The
Period Data sector Voice services
Q3 2013 41.86 21.89
Q4 2013 40.03 17.68
Q1 2014 38.61 23.37
Q2 2014 36.49 14.72
Q3 2014 34.52 25.96
Q4 2014 36.03 37.40
Q1 2015 36.92 46.41
Q2 2015 35.85 40.21
Q3 2015 39.98 46.77

Current
Market Cap (M Riyal) 3,970.03
Enterprise Value (EV) (M) 3,825.55
Shares Outstanding ((M)) 33.99
EPS ( Riyal) (TTM) 6.96
Book Value (BV) ( Riyal) 9.88
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 21.54
P/E (TTM) 19.27
Price/book 13.57
Return on Average Assets (%) (TTM) 21.4
Return on Average Equity (%) (TTM) 108.6

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