Saudi Catering H1 profit drops 5% on lower retail sales

05/08/2018 Argaam Exclusive

View other reports

Share Price

CATRION Catering Holding Co. (CATRION)

Saudi Airlines Catering Co. reported a net profit of SAR 240.5 million in the first half of 2018, a 4.7 percent drop year-on-year (YoY) on a decline in retail sales and a loss from the associate firm.

Financials (M)

Item	6m 2017	6m 2018	Change‬
Revenues	1,084.99	998.28	(8.0 %)
Gross Income	363.26	364.75	0.4 %
Operating Income	275.17	252.18	(8.4 %)
Net Income	252.40	240.54	(4.7 %)
Average Shares	82.00	82.00	-
EPS (Riyals)	3.08	2.93	(4.7 %)

The company’s net profit for the second quarter fell 8 percent YoY to SAR 120.3 million due to a decrease in catering retail sales as well as an increase in general and administrative expenses.

Meanwhile, Q2 net profit was flat when compared to the previous quarter.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2017	Q2 2018	Change‬
Revenues	551.11	509.76	(7.5 %)
Gross Income	196.27	189.43	(3.5 %)
Operating Income	144.93	134.32	(7.3 %)
Net Income	131.02	120.28	(8.2 %)
Average Shares	82.00	82.00	-
EPS (Riyals)	1.60	1.47	(8.2 %)

Item	Q1 2018	Q2 2018	Change‬
Revenues	488.52	509.76	4.3 %
Gross Income	175.32	189.43	8.0 %
Operating Income	117.86	134.32	14.0 %
Net Income	120.25	120.28	0.0 %
Average Shares	82.00	82.00	-
EPS (Riyals)	1.47	1.47	0.0 %

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
Q1 2009	-	-	-	-	-	-	-
Q2 2009	-	-	-	-	-	-	-
Q3 2009	-	-	-	-	-	-	-
Q4 2009	-	-	-	-	-	-	-
2009	1,031.85	0.9 %	457.64	3.1 %	322.90	19.6 %	3.94
Q1 2010	-	-	-	-	-	-	-
Q2 2010	-	-	-	-	-	-	-
Q3 2010	-	-	-	-	-	-	-
Q4 2010	-	-	-	-	-	-	-
2010	1,193.16	15.6 %	545.41	19.2 %	417.09	29.2 %	5.09
Q1 2011	291.44	-	119.72	-	87.44	-	1.07
Q2 2011	367.89	-	142.32	-	102.75	-	1.25
Q3 2011	390.62	-	149.44	-	121.12	-	1.48
Q4 2011	415.32	-	146.99	-	109.25	-	1.33
2011	1,465.27	22.8 %	558.46	2.4 %	420.56	0.8 %	5.13
Q1 2012	383.78	31.7 %	141.44	18.1 %	105.92	21.1 %	1.29
Q2 2012	414.28	12.6 %	176.80	24.2 %	143.12	39.3 %	1.75
Q3 2012	442.45	13.3 %	156.70	4.9 %	134.18	10.8 %	1.64
Q4 2012	446.89	7.6 %	153.06	4.1 %	103.83	(5.0 %)	1.27
2012	1,687.39	15.2 %	628.00	12.5 %	487.05	15.8 %	5.94
Q1 2013	451.52	17.7 %	169.80	20.0 %	140.75	32.9 %	1.72
Q2 2013	475.08	14.7 %	188.40	6.6 %	167.99	17.4 %	2.05
Q3 2013	460.52	4.1 %	156.18	(0.3 %)	133.43	(0.6 %)	1.63
Q4 2013	480.37	7.5 %	177.54	16.0 %	127.19	22.5 %	1.55
2013	1,867.50	10.7 %	691.92	10.2 %	569.35	16.9 %	6.94
Q1 2014	496.69	10.0 %	195.56	15.2 %	161.78	14.9 %	1.97
Q2 2014	551.34	16.1 %	207.65	10.2 %	164.35	(2.2 %)	2.00
Q3 2014	552.54	20.0 %	188.03	20.4 %	154.98	16.1 %	1.89
Q4 2014	535.38	11.4 %	183.34	3.3 %	172.83	35.9 %	2.11
2014	2,135.94	14.4 %	774.58	11.9 %	653.93	14.9 %	7.97
Q1 2015	560.35	12.8 %	194.73	(0.4 %)	167.44	3.5 %	2.04
Q2 2015	565.21	2.5 %	198.19	(4.6 %)	175.82	7.0 %	2.14
Q3 2015	578.88	4.8 %	203.26	8.1 %	164.50	6.1 %	2.01
Q4 2015	556.36	3.9 %	228.36	24.6 %	190.75	10.4 %	2.33
2015	2,260.80	5.8 %	824.54	6.5 %	698.50	6.8 %	8.52
Q1 2016	559.17	(0.2 %)	192.09	(1.4 %)	130.39	(22.1 %)	1.59
Q2 2016	570.45	0.9 %	193.09	(2.6 %)	141.76	(19.4 %)	1.73
Q3 2016	592.01	2.3 %	213.55	5.1 %	139.24	(15.4 %)	1.70
Q4 2016	535.03	(3.8 %)	167.02	(26.9 %)	107.72	(43.5 %)	1.31
2016	2,256.65	(0.2 %)	765.75	(7.1 %)	519.11	(25.7 %)	6.33
Q1 2017	533.88	(4.5 %)	166.99	(13.1 %)	121.39	(6.9 %)	1.48
Q2 2017	551.11	(3.4 %)	196.27	1.6 %	131.02	(7.6 %)	1.60
Q3 2017	602.17	1.7 %	202.41	(5.2 %)	130.43	(6.3 %)	1.59
Q4 2017	265.41	(50.4 %)	157.13	(5.9 %)	98.91	(8.2 %)	1.21
2017	1,952.57	(13.5 %)	722.79	(5.6 %)	481.74	(7.2 %)	5.87
Q1 2018	488.52	(8.5 %)	175.32	5.0 %	120.25	(0.9 %)	1.47
Q2 2018	509.76	(7.5 %)	189.43	(3.5 %)	120.28	(8.2 %)	1.47

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
2008	1,022.66	-	443.86	-	270.02	-	3.29
2009	1,031.85	0.9 %	457.64	3.1 %	322.90	19.6 %	3.94
2010	1,193.16	15.6 %	545.41	19.2 %	417.09	29.2 %	5.09
2011	1,465.27	22.8 %	558.46	2.4 %	420.56	0.8 %	5.13
2012	1,687.39	15.2 %	628.00	12.5 %	487.05	15.8 %	5.94
2013	1,867.50	10.7 %	691.92	10.2 %	569.35	16.9 %	6.94
2014	2,135.94	14.4 %	774.58	11.9 %	653.93	14.9 %	7.97
2015	2,260.80	5.8 %	824.54	6.5 %	698.50	6.8 %	8.52
2016	2,256.65	(0.2 %)	765.75	(7.1 %)	519.11	(25.7 %)	6.33
2017	1,952.57	(13.5 %)	722.79	(5.6 %)	481.74	(7.2 %)	5.87

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2009	-	-	-
Q2 2009	-	-	-
Q3 2009	-	-	-
Q4 2009	-	-	-
2009	44.35 %	33.32 %	31.29 %
Q1 2010	-	-	-
Q2 2010	-	-	-
Q3 2010	-	-	-
Q4 2010	-	-	-
2010	45.71 %	36.09 %	34.96 %
Q1 2011	-	-	-
Q2 2011	-	-	-
Q3 2011	-	-	-
Q4 2011	38.11 %	29.12 %	28.70 %
2011	38.11 %	29.67 %	28.70 %
Q1 2012	37.25 %	28.79 %	28.19 %
Q2 2012	38.32 %	30.72 %	29.89 %
Q3 2012	37.56 %	30.51 %	29.74 %
Q4 2012	37.22 %	30.97 %	30.22 %
2012	37.22 %	30.97 %	30.22 %
Q1 2013	37.40 %	31.70 %	31.03 %
Q2 2013	36.78 %	31.44 %	31.36 %
Q3 2013	36.39 %	30.76 %	31.01 %
Q4 2013	37.05 %	30.06 %	30.49 %
2013	37.05 %	30.06 %	30.49 %
Q1 2014	37.52 %	30.23 %	30.87 %
Q2 2014	37.05 %	29.28 %	29.50 %
Q3 2014	36.94 %	29.26 %	29.23 %
Q4 2014	36.26 %	30.52 %	30.62 %
2014	36.26 %	30.52 %	30.62 %
Q1 2015	35.18 %	29.98 %	29.99 %
Q2 2015	34.53 %	29.94 %	30.32 %
Q3 2015	34.80 %	30.00 %	30.39 %
Q4 2015	36.47 %	30.68 %	30.90 %
2015	36.47 %	30.68 %	30.90 %
Q1 2016	36.37 %	29.86 %	29.27 %
Q2 2016	36.06 %	29.11 %	27.70 %
Q3 2016	36.31 %	28.69 %	26.43 %
Q4 2016	33.93 %	26.11 %	23.00 %
2016	33.93 %	26.11 %	23.00 %
Q1 2017	33.19 %	26.20 %	22.86 %
Q2 2017	33.63 %	26.70 %	22.57 %
Q3 2017	32.97 %	26.23 %	22.08 %
Q4 2017	37.02 %	29.35 %	24.67 %
2017	37.02 %	29.35 %	24.67 %
Q1 2018	38.33 %	29.50 %	25.20 %
Q2 2018	38.82 %	29.67 %	25.18 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2008	43.40 %	28.45 %	26.40 %
2009	44.35 %	33.32 %	31.29 %
2010	45.71 %	36.09 %	34.96 %
2011	38.11 %	29.67 %	28.70 %
2012	37.22 %	30.97 %	30.22 %
2013	37.05 %	30.06 %	30.49 %
2014	36.26 %	30.52 %	30.62 %
2015	36.47 %	30.68 %	30.90 %
2016	33.93 %	26.11 %	23.00 %
2017	37.02 %	29.35 %	24.67 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2009	-	-	-
Q2 2009	-	-	-
Q3 2009	-	-	-
Q4 2009	-	-	-
Q1 2010	-	-	-
Q2 2010	-	-	-
Q3 2010	-	-	-
Q4 2010	-	-	-
Q1 2011	41.08 %	-	30.00 %
Q2 2011	38.68 %	27.85 %	27.93 %
Q3 2011	38.26 %	31.93 %	31.01 %
Q4 2011	35.39 %	27.00 %	26.31 %
Q1 2012	36.85 %	28.44 %	27.60 %
Q2 2012	42.68 %	35.41 %	34.55 %
Q3 2012	35.42 %	31.00 %	30.33 %
Q4 2012	34.25 %	29.01 %	28.34 %
Q1 2013	37.61 %	31.64 %	31.17 %
Q2 2013	39.66 %	33.93 %	35.36 %
Q3 2013	33.91 %	28.33 %	28.97 %
Q4 2013	36.96 %	26.39 %	26.48 %
Q1 2014	39.37 %	32.18 %	32.57 %
Q2 2014	37.66 %	29.98 %	29.81 %
Q3 2014	34.03 %	28.40 %	28.05 %
Q4 2014	34.24 %	31.71 %	32.28 %
Q1 2015	34.75 %	29.88 %	29.88 %
Q2 2015	35.06 %	29.84 %	31.11 %
Q3 2015	35.11 %	28.71 %	28.42 %
Q4 2015	41.05 %	34.39 %	34.28 %
Q1 2016	34.35 %	26.56 %	23.32 %
Q2 2016	33.85 %	26.85 %	24.85 %
Q3 2016	36.07 %	27.10 %	23.52 %
Q4 2016	31.22 %	23.75 %	20.13 %
Q1 2017	31.28 %	26.96 %	22.74 %
Q2 2017	35.61 %	28.87 %	23.77 %
Q3 2017	33.61 %	25.39 %	21.66 %
Q4 2017	59.20 %	44.12 %	37.27 %
Q1 2018	35.89 %	27.35 %	24.62 %
Q2 2018	37.16 %	29.44 %	23.60 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2009	-	-	-	-
Q2 2009	-	-	-	-
Q3 2009	-	-	-	-
Q4 2009	-	-	-	-
Q1 2010	-	-	-	-
Q2 2010	-	-	-	-
Q3 2010	-	-	-	-
Q4 2010	-	-	-	-
Q1 2011	82.00	-	-	-
Q2 2011	82.00	-	-	11.27
Q3 2011	82.00	-	-	11.72
Q4 2011	82.00	5.13	5.13	11.96
Q1 2012	82.00	5.35	5.35	11.71
Q2 2012	82.00	5.85	5.85	13.29
Q3 2012	82.00	6.01	6.01	12.81
Q4 2012	82.00	5.94	6.22	12.95
Q1 2013	82.00	6.36	6.64	14.51
Q2 2013	82.00	6.67	6.95	13.71
Q3 2013	82.00	6.66	6.94	13.95
Q4 2013	82.00	6.94	6.94	14.13
Q1 2014	82.00	7.20	7.20	14.27
Q2 2014	82.00	7.16	7.16	14.65
Q3 2014	82.00	7.42	7.42	14.67
Q4 2014	82.00	7.97	7.97	14.95
Q1 2015	82.00	8.04	8.04	16.84
Q2 2015	82.00	8.18	8.18	15.39
Q3 2015	82.00	8.30	8.30	15.58
Q4 2015	82.00	8.52	8.52	16.08
Q1 2016	82.00	8.07	8.07	15.93
Q2 2016	82.00	7.65	7.65	15.92
Q3 2016	82.00	7.34	7.34	15.92
Q4 2016	82.00	6.33	6.33	15.37
Q1 2017	82.00	6.22	6.22	15.58
Q2 2017	82.00	6.09	6.09	15.95
Q3 2017	82.00	5.98	5.98	16.07
Q4 2017	82.00	5.87	5.87	15.65
Q1 2018	82.00	5.86	5.86	15.84
Q2 2018	82.00	5.73	5.73	15.98

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2008	82.00	3.29	3.29	4.29
2009	82.00	3.94	3.94	5.38
2010	82.00	5.09	5.09	10.04
2011	82.00	5.13	5.13	11.96
2012	82.00	5.94	6.22	12.95
2013	82.00	6.94	6.94	14.13
2014	82.00	7.97	7.97	14.95
2015	82.00	8.52	8.52	16.08
2016	82.00	6.33	6.33	15.37
2017	82.00	5.87	5.87	15.65

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2009	-	-	-
Q2 2009	-	-	-
Q3 2009	-	-	-
Q4 2009	-	-	-
Q1 2010	-	-	-
Q2 2010	-	-	-
Q3 2010	-	-	-
Q4 2010	-	-	-
Q1 2011	-	-	-
Q2 2011	-	-	-
Q3 2011	-	-	-
Q4 2011	-	-	-
Q1 2012	-	-	-
Q2 2012	-	-	-
Q3 2012	12.15	12.15	5.70
Q4 2012	13.13	12.54	6.02
Q1 2013	14.22	13.62	6.24
Q2 2013	17.51	16.81	8.51
Q3 2013	19.45	18.67	9.28
Q4 2013	20.38	20.38	10.01
Q1 2014	21.88	21.88	11.03
Q2 2014	24.03	24.03	11.74
Q3 2014	25.61	25.61	12.95
Q4 2014	23.31	23.31	12.44
Q1 2015	21.30	21.30	10.18
Q2 2015	20.01	20.01	10.64
Q3 2015	16.74	16.74	8.92
Q4 2015	14.45	14.45	7.65
Q1 2016	13.00	13.00	6.59
Q2 2016	12.84	12.84	6.17
Q3 2016	11.48	11.48	5.30
Q4 2016	16.29	16.29	6.71
Q1 2017	14.44	14.44	5.77
Q2 2017	14.28	14.28	5.45
Q3 2017	14.76	14.76	5.49
Q4 2017	13.65	13.65	5.13
Q1 2018	13.99	13.99	5.18
Q2 2018	16.25	16.25	5.83

Period	P/E	Adjusted P/E	Price/book
2008	-	-	-
2009	-	-	-
2010	-	-	-
2011	-	-	-
2012	13.13	12.54	6.02
2013	20.38	20.38	10.01
2014	23.31	23.31	12.44
2015	14.45	14.45	7.65
2016	16.29	16.29	6.71
2017	13.65	13.65	5.13

Business Segments (Million)

Compared With The

Period	Inflight	Catering and Facility management	Retail	Other activities	Catering services	sky sales
Q3 2011	-	-	-	-	350.94	39.69
Q4 2011	-	-	-	-	376.62	38.70
Q1 2012	-	-	-	-	341.57	42.21
Q2 2012	-	-	-	-	370.97	43.32
Q3 2012	-	-	-	-	397.83	44.62
Q4 2012	-	-	-	-	400.15	46.74
Q1 2013	-	-	-	-	404.18	47.34
Q2 2013	-	-	-	-	427.16	47.92
Q3 2013	-	-	-	-	414.59	45.93
Q4 2013	-	-	-	-	432.60	47.77
Q1 2014	-	-	-	-	447.67	49.02
Q2 2014	-	-	-	-	498.34	53.00
Q3 2014	-	-	-	-	500.86	51.68
Q4 2014	-	-	-	-	479.68	55.70
Q1 2015	-	-	-	-	505.05	55.30
Q2 2015	-	-	-	-	508.42	56.79
Q3 2015	-	-	-	-	517.90	60.98
Q4 2015	-	-	-	-	490.09	66.27
Q1 2016	408.51	75.24	66.49	8.92	-	-
Q2 2016	493.86	-	68.56	9.02	-	-
Q3 2016	479.12	38.70	61.53	12.66	-	-
Q4 2016	-	-	-	-	462.45	72.58
Q1 2017	420.49	28.86	74.55	9.98	-	-
Q2 2017	434.05	30.10	79.41	7.54	-	-
Q3 2017	487.40	30.49	56.09	28.18	-	-
Q4 2017	166.17	30.44	51.45	17.35	-	-
Q1 2018	395.21	33.30	44.93	15.08	-	-
Q2 2018	413.97	34.48	44.99	16.31	-	-

Period	Inflight	Catering and Facility management	Retail	Other activities	Catering services	sky sales
2010	-	-	-	-	1,082.45	110.71
2011	-	-	-	-	1,318.22	147.05
2012	-	-	-	-	1,510.51	176.87
2013	-	-	-	-	1,678.53	188.97
2014	-	-	-	-	1,926.55	209.39
2015	-	-	-	-	2,021.46	239.34
2016	-	-	-	-	1,987.49	269.16
2017	1,508.12	119.89	261.50	63.05	-	-

Analysts Estimates (Million)

Item	Q2 2018 (e)	Q2 2018 (a)	Change‬
Average	128.28	120.28	(6.2 %)

Estimates vs Actual (Million)

Item	Q2 2018 (e)	Q2 2018 (a)	Change
AlJazira Capital	121.30	120.28	(0.8) %
OSOOL AND BAKHEET	123.10	120.28	(2.3) %
Albilad Capital	127.00	120.28	(5.3) %
Al Rajhi Capital	130.00	120.28	(7.5) %
Arbah Capital	130.30	120.28	(7.7) %
SNB Capital	138.00	120.28	(12.8) %

Financial Ratios

	Current
Market Cap (M Riyal)	9,397.20
Enterprise Value (EV) (M)	8,842.58
Shares Outstanding ((M))	82.00
EPS ( Riyal) (TTM)	3.62
Book Value (BV) ( Riyal)	15.45
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	34.08
P/E (TTM)	31.67
Price/book	7.42
Return on Average Assets (%) (TTM)	13.4
Return on Average Equity (%) (TTM)	24.7

Twitter

Facebook

Linked in

Comments {{getCommentCount()}}

Be the first to comment

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

Sorry: the validity period has ended to comment on this news

Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Sign In

Search Result

Saudi Catering H1 profit drops 5% on lower retail sales

View other reports

Share Price

CATRION Catering Holding Co. (CATRION)

Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million)

Revenue by Business Segment (Latest) 2018 Q2

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

Comments {{getCommentCount()}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}}

Sign In

×

Forgot password?

Saudi Catering H1 profit drops 5% on lower retail sales

View other reports

Share Price

CATRION Catering Holding Co. (CATRION)

Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million) Q2 2018

Revenue by Business Segment (Latest) 2018 Q2

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

Comments {{getCommentCount()}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}}

Business Segments (Million)