SSP posts lower net profit at SAR 4m in I1 of 2014

31/03/2014 Argaam Exclusive

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Share Price

73.00
1.20 1.67 %

Saudi Steel Pipe Co. (SSP)

 

Saudi Steel Pipe Co., producing steel pipes, reported SAR 4m net profit at the end of the first quarter of 2014, compared to SAR 23.1m in the same period last year, as shown in the following table:



Current Quarter Comparison (M)

Compared With The
Item Q1 2013 Q1 2014 Change‬
Revenues 248.48 224.73 (9.6 %)
Gross Income 37.91 21.65 (42.9 %)
Operating Income 24.63 9.05 (63.2 %)
Net Income 23.11 4.03 (82.6 %)
Average Shares 51.00 51.00 -
EPS (Riyals) 0.45 0.08 (82.6 %)


Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Riyal)
Q1 2005 - - - - - - -
Q2 2005 - - - - - - -
Q3 2005 - - - - - - -
Q4 2005 - - - - - - -
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 155.80 - 40.80 - 33.61 - 0.96
Q2 2009 145.28 - 40.19 - 35.85 - 1.02
Q3 2009 130.83 - 36.93 - 30.17 - 0.59
Q4 2009 106.74 - 21.69 - 13.19 - 0.26
Q1 2010 153.44 (1.5 %) 28.11 (31.1 %) 20.02 (40.4 %) 0.39
Q2 2010 168.86 16.2 % 33.00 (17.9 %) 25.16 (29.8 %) 0.49
Q3 2010 104.11 (20.4 %) 13.27 (64.1 %) 6.54 (78.3 %) 0.13
Q4 2010 166.87 56.3 % 34.15 57.4 % 21.23 60.9 % 0.42
Q1 2011 163.11 6.3 % 28.75 2.3 % 21.01 5.0 % 0.41
Q2 2011 153.83 (8.9 %) 29.74 (9.9 %) 21.34 (15.2 %) 0.42
Q3 2011 140.14 34.6 % 17.97 35.3 % 9.40 43.7 % 0.18
Q4 2011 172.27 3.2 % 23.03 (32.6 %) 13.37 (37.0 %) 0.26
Q1 2012 206.85 26.8 % 29.13 1.3 % 18.32 (12.8 %) 0.36
Q2 2012 187.48 21.9 % 22.88 (23.1 %) 12.38 (42.0 %) 0.24
Q3 2012 152.16 8.6 % 19.39 7.9 % 8.92 (5.1 %) 0.17
Q4 2012 179.87 4.4 % 26.57 15.4 % 14.09 5.4 % 0.28
Q1 2013 248.48 20.1 % 37.91 30.2 % 23.11 26.2 % 0.45
Q2 2013 249.13 32.9 % 39.45 72.5 % 25.11 102.7 % 0.49
Q3 2013 172.98 13.7 % 27.95 44.1 % 16.37 83.5 % 0.32
Q4 2013 168.76 (6.2 %) 25.76 (3.0 %) 14.86 5.4 % 0.29
Q1 2014 224.73 (9.6 %) 21.65 (42.9 %) 4.03 (82.6 %) 0.08

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2005 - - -
Q2 2005 - - -
Q3 2005 - - -
Q4 2005 - - -
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 25.92 % 23.89 % 20.95 %
Q1 2010 23.67 % 21.51 % 18.50 %
Q2 2010 21.38 % 19.23 % 15.81 %
Q3 2010 18.02 % 15.98 % 12.18 %
Q4 2010 18.29 % 16.59 % 12.30 %
Q1 2011 18.11 % 16.61 % 12.26 %
Q2 2011 18.02 % 16.41 % 11.93 %
Q3 2011 17.73 % 16.01 % 11.70 %
Q4 2011 15.81 % 13.97 % 10.35 %
Q1 2012 14.84 % 12.84 % 9.27 %
Q2 2012 13.16 % 11.16 % 7.57 %
Q3 2012 13.14 % 10.99 % 7.37 %
Q4 2012 13.49 % 11.08 % 7.39 %
Q1 2013 13.90 % 11.20 % 7.62 %
Q2 2013 14.86 % 11.98 % 8.59 %
Q3 2013 15.51 % 12.68 % 9.25 %
Q4 2013 15.62 % 12.78 % 9.47 %
Q1 2014 14.08 % 11.55 % 7.40 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2005 - - - -
Q2 2005 - - - -
Q3 2005 - - - -
Q4 2005 - - - -
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 35.00 - - 13.16
Q2 2009 35.00 - - 14.04
Q3 2009 51.00 - - 17.29
Q4 2009 51.00 2.21 2.21 17.55
Q1 2010 51.00 1.95 1.95 15.88
Q2 2010 51.00 1.74 1.74 16.33
Q3 2010 51.00 1.27 1.27 15.92
Q4 2010 51.00 1.43 1.43 16.31
Q1 2011 51.00 1.45 1.45 15.67
Q2 2011 51.00 1.37 1.37 16.03
Q3 2011 51.00 1.43 1.43 15.43
Q4 2011 51.00 1.28 1.28 15.55
Q1 2012 51.00 1.22 1.22 15.04
Q2 2012 51.00 1.05 1.05 15.24
Q3 2012 51.00 1.04 1.04 15.38
Q4 2012 51.00 1.05 1.05 15.56
Q1 2013 51.00 1.15 1.15 15.95
Q2 2013 51.00 1.40 1.40 15.66
Q3 2013 51.00 1.54 1.54 15.19
Q4 2013 51.00 1.56 1.56 15.39
Q1 2014 51.00 1.18 1.18 15.41

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2005 - - -
Q2 2005 - - -
Q3 2005 - - -
Q4 2005 - - -
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 - - 1.80
Q4 2009 15.41 15.41 1.94
Q1 2010 16.96 16.96 2.08
Q2 2010 15.61 15.61 1.66
Q3 2010 19.09 19.09 1.53
Q4 2010 16.85 16.85 1.48
Q1 2011 16.10 16.10 1.49
Q2 2011 19.35 19.35 1.66
Q3 2011 16.49 16.49 1.53
Q4 2011 22.87 22.87 1.88
Q1 2012 23.04 23.04 1.87
Q2 2012 20.84 20.84 1.43
Q3 2012 23.10 23.10 1.56
Q4 2012 24.02 24.02 1.63
Q1 2013 22.49 22.49 1.62
Q2 2013 18.54 18.54 1.65
Q3 2013 19.45 19.45 1.97
Q4 2013 22.79 22.79 2.31
Q1 2014 31.68 31.68 2.43

Current
Market Cap (M Riyal) 3,723.00
Enterprise Value (EV) (M) 4,265.28
Shares Outstanding ((M)) 51.00
EPS ( Riyal) (TTM) 4.37
Book Value (BV) ( Riyal) 15.25
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 19.38
P/E (TTM) 16.71
Price/book 4.79
Return on Average Assets (%) (TTM) 15.6
Return on Average Equity (%) (TTM) 33.4

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