Al Yamamah Steel reports SAR 22 mln loss for fiscal year 2018

16/12/2018 Argaam Exclusive

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Share Price

Al Yamamah Steel Industries Co.
35.70
(0.50) (1.38 %)

Al Yamamah Steel Industries Co. (ALYAMAMAH STEEL)

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Al Yamamah Steel Industries Co. reported a net loss after zakat and tax of SAR 21.5 million for the fiscal year ending on Sept. 30, 2018, compared to a net profit of SAR 111.2 million a year earlier. 

 

The steel maker incurred losses due to weak demand amid the current market conditions, slow construction activities and fierce competition.

 

Meanwhile, product selling prices declined at a higher pace, when compared to raw material costs.



Financials (M)

Item 2017 2018 Change‬
Revenues 1,249.75 879.53 (29.6 %)
Gross Income 229.40 55.82 (75.7 %)
Operating Income 159.01 (5.26) (103.3 %)
Net Income 111.66 (21.53) (119.3 %)
Average Shares 50.80 50.80 -
EPS (Riyals) 2.20 (0.42) (119.3 %)


Current Quarter Comparison (M)

Compared With The
Item Q4 2017 Q4 2018 Change‬
Revenues 265.91 185.18 (30.4 %)
Gross Income 47.64 (5.15) (110.8 %)
Operating Income 31.25 (22.30) (171.3 %)
Net Income 18.91 (26.94) (242.4 %)
Average Shares 50.80 50.80 -
EPS (Riyals) 0.37 (0.53) (242.4 %)


Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Riyal)
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 - - - - - - -
Q4 2012 - - - - - - -
Q1 2013 - - - - - - -
Q2 2013 - - - - - - -
Q3 2013 - - - - - - -
Q4 2013 - - - - - - -
Q1 2014 - - - - - - -
Q2 2014 - - - - - - -
Q3 2014 661.67 - 82.92 - 48.47 - 0.95
Q4 2014 436.16 - 38.83 - 15.01 - 0.30
Q1 2015 500.78 - 71.20 - 44.09 - 0.87
Q2 2015 650.88 - 72.99 - 41.61 - 0.82
Q3 2015 540.78 (18.3 %) 92.64 11.7 % 54.50 12.4 % 1.07
Q4 2015 327.80 (24.8 %) 45.56 17.3 % 18.54 23.5 % 0.36
Q1 2016 435.46 (13.0 %) 59.61 (16.3 %) 34.82 (21.0 %) 0.69
Q2 2016 460.60 (29.2 %) 97.02 32.9 % 55.66 33.8 % 1.10
Q3 2016 471.48 (12.8 %) 124.12 34.0 % 67.88 24.6 % 1.34
Q4 2016 280.42 (14.5 %) 53.16 16.7 % 20.04 8.1 % 0.39
Q1 2017 325.44 (25.3 %) 59.55 (0.1 %) 28.99 (16.7 %) 0.57
Q2 2017 371.99 (19.2 %) 80.81 (16.7 %) 48.15 (13.5 %) 0.95
Q3 2017 286.42 (39.3 %) 42.20 (66.0 %) 17.21 (74.6 %) 0.34
Q4 2017 265.91 (5.2 %) 47.64 (10.4 %) 18.91 (5.6 %) 0.37
Q1 2018 252.24 (22.5 %) 23.79 (60.0 %) 6.73 (76.8 %) 0.13
Q2 2018 240.72 (35.3 %) 25.13 (68.9 %) 4.29 (91.1 %) 0.08
Q3 2018 201.38 (29.7 %) 12.04 (71.5 %) (5.61) (132.6 %) (0.11)
Q4 2018 185.18 (30.4 %) (5.15) (110.8 %) (26.94) (242.4 %) (0.53)
2018 879.53 (29.6 %) 55.82 (75.7 %) (21.53) (119.3 %) (0.42)

Profitability

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 - - -
Q2 2011 - - -
Q3 2011 - - -
Q4 2011 - - -
Q1 2012 - - -
Q2 2012 - - -
Q3 2012 - - -
Q4 2012 - - -
Q1 2013 - - -
Q2 2013 - - -
Q3 2013 - - -
Q4 2013 - - -
Q1 2014 - - -
Q2 2014 - - -
Q3 2014 - - -
Q4 2014 - - -
Q1 2015 - - -
Q2 2015 11.82 % 11.41 % 6.63 %
Q3 2015 12.95 % 11.40 % 7.29 %
Q4 2015 13.98 % 12.36 % 7.86 %
Q1 2016 13.85 % 12.09 % 7.65 %
Q2 2016 16.71 % 14.44 % 9.27 %
Q3 2016 19.25 % 15.88 % 11.16 %
Q4 2016 20.26 % 17.22 % 11.57 %
Q1 2017 21.71 % 18.41 % 12.02 %
Q2 2017 21.92 % 18.77 % 12.24 %
Q3 2017 18.64 % 16.88 % 9.05 %
Q4 2017 18.42 % 15.90 % 9.06 %
Q1 2018 16.53 % 13.88 % 7.73 %
Q2 2018 13.28 % 11.05 % 4.51 %
Q3 2018 11.31 % 8.90 % 2.53 %
Q4 2018 6.35 % 3.92 % (2.45 %)
2018 6.35 % 3.92 % (2.45 %)


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 - - - -
Q2 2011 - - - -
Q3 2011 - - - -
Q4 2011 50.80 - - 7.78
Q1 2012 - - - -
Q2 2012 - - - -
Q3 2012 - - - -
Q4 2012 50.80 - - 9.17
Q1 2013 - - - -
Q2 2013 - - - -
Q3 2013 - - - -
Q4 2013 50.80 - - 10.45
Q1 2014 - - - -
Q2 2014 - - - -
Q3 2014 50.80 - - 11.44
Q4 2014 50.80 - - 11.73
Q1 2015 50.80 - - 11.35
Q2 2015 50.80 2.94 2.94 12.17
Q3 2015 50.80 3.06 3.06 11.99
Q4 2015 50.80 3.12 3.12 12.36
Q1 2016 50.80 2.94 2.94 11.79
Q2 2016 50.80 3.22 3.22 12.89
Q3 2016 50.80 3.48 3.72 13.07
Q4 2016 50.80 3.51 3.75 13.46
Q1 2017 50.80 3.40 3.64 12.72
Q2 2017 50.80 3.25 3.49 13.65
Q3 2017 50.80 2.25 2.25 13.03
Q4 2017 50.80 2.23 2.23 13.24
Q1 2018 50.80 1.79 1.79 13.37
Q2 2018 50.80 0.93 0.93 12.95
Q3 2018 50.80 0.48 0.48 12.84
Q4 2018 50.80 (0.42) (0.42) 12.46

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 - - -
Q4 2012 - - -
Q1 2013 - - -
Q2 2013 - - -
Q3 2013 - - -
Q4 2013 - - -
Q1 2014 - - -
Q2 2014 - - -
Q3 2014 - - -
Q4 2014 - - -
Q1 2015 - - -
Q2 2015 - - -
Q3 2015 - - -
Q4 2015 - - -
Q1 2016 - - -
Q2 2016 10.77 10.77 2.69
Q3 2016 6.67 6.24 1.78
Q4 2016 8.29 7.75 2.16
Q1 2017 8.33 7.78 2.23
Q2 2017 8.16 7.60 1.94
Q3 2017 11.06 11.06 1.91
Q4 2017 11.17 11.17 1.88
Q1 2018 12.39 12.39 1.66
Q2 2018 20.67 20.67 1.48
Q3 2018 34.83 34.83 1.30
Q4 2018 NEG NEG 1.17

Business Segments (Million)

Compared With The
Period Construction sector Electricity sector Pipelines factory Electric poles factory Frames factory Electric power towers factory Al Yamamah for reinforcing steel bars
Q4 2014 - - 111.76 50.40 5.45 51.53 217.02
Q1 2015 - - 115.90 43.21 4.62 61.62 275.43
Q2 2015 - - 125.10 62.12 5.12 62.00 396.53
Q3 2015 - - 122.92 54.58 5.79 50.75 306.75
Q4 2015 - - 84.92 45.57 4.78 50.14 142.39
Q1 2016 - - 103.42 51.43 3.50 54.36 222.75
Q2 2016 - - 99.83 47.47 1.79 47.78 263.74
Q3 2016 391.22 80.36 - - - - -
Q4 2016 238.23 42.18 - - - - -
Q1 2017 278.88 46.55 - - - - -
Q2 2017 304.43 67.56 - - - - -
Q3 2017 245.49 40.93 - - - - -
Q4 2017 236.12 29.79 - - - - -
Q1 2018 211.85 40.40 - - - - -
Q2 2018 209.10 31.62 - - - - -
Q3 2018 175.20 26.18 - - - - -
Q4 2018 153.20 31.99 - - - - -

Analysts Estimates (Million)

Item Q4 2018 (e) Q4 2018 (a) Change‬
Average (8.00) (26.94) (236.7 %)

Estimates vs Actual (Million)

Item Q4 2018 (e) Q4 2018 (a) Change
Sico (8.00) (26.94) (236.7) %


Financial Ratios
Current
Market Cap (M Riyal) 1,813.56
Enterprise Value (EV) (M) 2,742.98
Shares Outstanding ((M)) 50.80
EPS ( Riyal) (TTM) (0.20)
Book Value (BV) ( Riyal) 11.38
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 3.14
Return on Average Assets (%) (TTM) (0.55 )
Return on Average Equity (%) (TTM) (1.76 )
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