Saudi Cement’s H1 net profit drops 49% YoY

30/07/2017 Argaam Exclusive

View other reports

Share Price

Saudi Cement Co. (SAUDI CEMENT)

Saudi Cement Company’s H1 net profit fell 49.41 percent year-on-year (YoY) to SAR 259 million, mainly due to lower sales and weak local demand for cement, the company said in a statement.

Financials (M)

Item	6m 2016	6m 2017	Change‬
Revenues	1,005.70	615.80	(38.8 %)
Gross Income	577.58	312.34	(45.9 %)
Operating Income	528.66	267.36	(49.4 %)
Net Income	512.03	258.65	(49.5 %)
Average Shares	153.00	153.00	-
EPS (Riyals)	3.35	1.69	(49.5 %)

Q2 2017 net profit fell 62.25 percent YoY to SAR 94 million, also due to lower sales and declining demand. The cement maker’s net share from associates and other income also declined.

When compared to the previous quarter, Q2 net profit fell 43 percent due to a decrease in sales quantities and value as a result of weak local demand, a drop in other income, and higher Islamic financial charges.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2016	Q2 2017	Change‬
Revenues	498.78	269.45	(46.0 %)
Gross Income	282.36	121.16	(57.1 %)
Operating Income	257.31	99.09	(61.5 %)
Net Income	249.46	93.95	(62.3 %)
Average Shares	153.00	153.00	-
EPS (Riyals)	1.63	0.61	(62.3 %)

Item	Q1 2017	Q2 2017	Change‬
Revenues	346.35	269.45	(22.2 %)
Gross Income	191.19	121.16	(36.6 %)
Operating Income	168.27	99.09	(41.1 %)
Net Income	164.70	93.95	(43.0 %)
Average Shares	153.00	153.00	-
EPS (Riyals)	1.08	0.61	(43.0 %)

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
Q1 2008	342.69	0.4 %	190.29	4.3 %	173.30	2.5 %	1.13
Q2 2008	350.17	0.4 %	188.73	(5.7 %)	171.59	(9.4 %)	1.12
Q3 2008	325.22	(3.9 %)	174.45	(1.1 %)	144.73	(9.2 %)	0.95
Q4 2008	241.54	(27.6 %)	151.15	(19.6 %)	131.70	(21.8 %)	0.86
2008	1,259.61	(7.5 %)	704.61	(5.7 %)	621.32	(9.5 %)	4.06
Q1 2009	350.67	2.3 %	182.93	(3.9 %)	152.00	(12.3 %)	0.99
Q2 2009	357.18	2.0 %	180.97	(4.1 %)	167.66	(2.3 %)	1.10
Q3 2009	307.74	(5.4 %)	148.14	(15.1 %)	123.14	(14.9 %)	0.80
Q4 2009	330.29	36.7 %	167.49	10.8 %	139.59	6.0 %	0.91
2009	1,345.88	6.8 %	679.53	(3.6 %)	582.39	(6.3 %)	3.81
Q1 2010	410.89	17.2 %	205.89	12.5 %	176.58	16.2 %	1.15
Q2 2010	420.42	17.7 %	219.99	21.6 %	190.62	13.7 %	1.25
Q3 2010	327.10	6.3 %	163.93	10.7 %	140.28	13.9 %	0.92
Q4 2010	367.74	11.3 %	179.09	6.9 %	152.04	8.9 %	0.99
2010	1,526.15	13.4 %	768.91	13.2 %	659.53	13.2 %	4.31
Q1 2011	423.13	3.0 %	243.65	18.3 %	210.85	19.4 %	1.38
Q2 2011	462.98	10.1 %	243.45	10.7 %	213.76	12.1 %	1.40
Q3 2011	387.26	18.4 %	224.21	36.8 %	195.26	39.2 %	1.28
Q4 2011	442.73	20.4 %	239.69	33.8 %	211.37	39.0 %	1.38
2011	1,716.10	12.4 %	951.00	23.7 %	831.23	26.0 %	5.43
Q1 2012	639.29	51.1 %	352.60	44.7 %	325.56	54.4 %	2.13
Q2 2012	591.03	27.7 %	316.21	29.9 %	290.24	35.8 %	1.90
Q3 2012	433.14	11.8 %	238.40	6.3 %	209.45	7.3 %	1.37
Q4 2012	539.99	22.0 %	322.00	34.3 %	276.54	30.8 %	1.81
2012	2,203.45	28.4 %	1,229.21	29.3 %	1,101.79	32.5 %	7.20
Q1 2013	612.75	(4.2 %)	374.11	6.1 %	340.30	4.5 %	2.22
Q2 2013	626.42	6.0 %	339.99	7.5 %	307.14	5.8 %	2.01
Q3 2013	455.13	5.1 %	260.41	9.2 %	229.06	9.4 %	1.50
Q4 2013	492.95	(8.7 %)	309.75	(3.8 %)	247.30	(10.6 %)	1.62
2013	2,187.26	(0.7 %)	1,284.26	4.5 %	1,123.80	2.0 %	7.35
Q1 2014	534.76	(12.7 %)	326.08	(12.8 %)	286.05	(15.9 %)	1.87
Q2 2014	538.38	(14.1 %)	322.82	(5.0 %)	288.30	(6.1 %)	1.88
Q3 2014	425.74	(6.5 %)	264.43	1.5 %	231.72	1.2 %	1.51
Q4 2014	525.71	6.6 %	315.73	1.9 %	268.02	8.4 %	1.75
2014	2,024.59	(7.4 %)	1,229.06	(4.3 %)	1,074.08	(4.4 %)	7.02
Q1 2015	550.88	3.0 %	339.26	4.0 %	303.10	6.0 %	1.98
Q2 2015	499.63	(7.2 %)	283.93	(12.0 %)	253.82	(12.0 %)	1.66
Q3 2015	398.31	(6.4 %)	232.75	(12.0 %)	207.57	(10.4 %)	1.36
Q4 2015	483.58	(8.0 %)	280.09	(11.3 %)	175.70	(34.4 %)	1.15
2015	1,932.39	(4.6 %)	1,136.02	(7.6 %)	940.19	(12.5 %)	6.15
Q1 2016	506.93	(8.0 %)	295.22	(13.0 %)	262.57	(13.4 %)	1.72
Q2 2016	498.78	(0.2 %)	282.36	(0.6 %)	249.46	(1.7 %)	1.63
Q3 2016	375.05	(5.8 %)	232.19	(0.2 %)	202.28	(2.5 %)	1.32
Q4 2016	397.38	(17.8 %)	220.82	(21.2 %)	186.66	6.2 %	1.22
2016	1,778.14	(8.0 %)	1,030.58	(9.3 %)	900.97	(4.2 %)	5.89
Q1 2017	346.35	(31.7 %)	191.19	(35.2 %)	164.70	(37.3 %)	1.08
Q2 2017	269.45	(46.0 %)	121.16	(57.1 %)	93.95	(62.3 %)	0.61

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
2007	1,361.95	13.5 %	746.98	10.5 %	686.40	7.6 %	4.49
2008	1,259.61	(7.5 %)	704.61	(5.7 %)	621.32	(9.5 %)	4.06
2009	1,345.88	6.8 %	679.53	(3.6 %)	582.39	(6.3 %)	3.81
2010	1,526.15	13.4 %	768.91	13.2 %	659.53	13.2 %	4.31
2011	1,716.10	12.4 %	951.00	23.7 %	831.23	26.0 %	5.43
2012	2,203.45	28.4 %	1,229.21	29.3 %	1,101.79	32.5 %	7.20
2013	2,187.26	(0.7 %)	1,284.26	4.5 %	1,123.80	2.0 %	7.35
2014	2,024.59	(7.4 %)	1,229.06	(4.3 %)	1,074.08	(4.4 %)	7.02
2015	1,932.39	(4.6 %)	1,136.02	(7.6 %)	940.19	(12.5 %)	6.15
2016	1,778.14	(8.0 %)	1,030.58	(9.3 %)	900.97	(4.2 %)	5.89

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2008	55.37 %	57.03 %	50.67 %
Q2 2008	54.48 %	56.10 %	49.30 %
Q3 2008	54.86 %	55.84 %	48.69 %
Q4 2008	55.94 %	56.60 %	49.33 %
2008	55.94 %	56.60 %	49.33 %
Q1 2009	55.01 %	57.42 %	47.34 %
Q2 2009	54.10 %	58.91 %	46.77 %
Q3 2009	52.76 %	60.33 %	45.70 %
Q4 2009	50.49 %	60.28 %	43.27 %
2009	50.49 %	60.28 %	43.27 %
Q1 2010	49.96 %	59.64 %	43.17 %
Q2 2010	50.47 %	59.49 %	42.87 %
Q3 2010	50.87 %	59.53 %	43.47 %
Q4 2010	50.38 %	58.59 %	43.22 %
2010	50.38 %	58.59 %	43.22 %
Q1 2011	52.44 %	59.80 %	45.10 %
Q2 2011	52.51 %	59.80 %	45.35 %
Q3 2011	54.26 %	60.47 %	47.04 %
Q4 2011	55.42 %	61.26 %	48.44 %
2011	55.42 %	61.26 %	48.44 %
Q1 2012	54.86 %	60.51 %	48.96 %
Q2 2012	54.98 %	60.04 %	49.62 %
Q3 2012	54.45 %	59.94 %	49.22 %
Q4 2012	55.79 %	60.94 %	50.00 %
2012	55.79 %	60.94 %	50.00 %
Q1 2013	57.45 %	62.67 %	51.29 %
Q2 2013	57.61 %	62.66 %	51.23 %
Q3 2013	58.03 %	62.90 %	51.61 %
Q4 2013	58.72 %	63.38 %	51.38 %
2013	58.72 %	63.38 %	51.38 %
Q1 2014	58.61 %	63.45 %	50.71 %
Q2 2014	60.31 %	65.26 %	51.98 %
Q3 2014	61.40 %	66.27 %	52.88 %
Q4 2014	60.71 %	65.63 %	53.05 %
2014	60.71 %	65.63 %	53.05 %
Q1 2015	60.87 %	65.62 %	53.47 %
Q2 2015	60.11 %	65.26 %	52.78 %
Q3 2015	59.34 %	64.97 %	52.29 %
Q4 2015	58.79 %	64.64 %	52.08 %
2015	58.79 %	64.64 %	52.08 %
Q1 2016	57.82 %	64.19 %	51.14 %
Q2 2016	57.77 %	64.19 %	50.94 %
Q3 2016	58.46 %	65.04 %	51.29 %
Q4 2016	57.96 %	65.13 %	50.67 %
2016	57.96 %	65.13 %	50.67 %
Q1 2017	57.28 %	65.04 %	49.65 %
Q2 2017	55.13 %	64.08 %	46.65 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2007	54.85 %	58.25 %	50.40 %
2008	55.94 %	56.60 %	49.33 %
2009	50.49 %	60.28 %	43.27 %
2010	50.38 %	58.59 %	43.22 %
2011	55.42 %	61.26 %	48.44 %
2012	55.79 %	60.94 %	50.00 %
2013	58.72 %	63.38 %	51.38 %
2014	60.71 %	65.63 %	53.05 %
2015	58.79 %	64.64 %	52.08 %
2016	57.96 %	65.13 %	50.67 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2008	55.53 %	56.58 %	50.57 %
Q2 2008	53.90 %	54.92 %	49.00 %
Q3 2008	53.64 %	54.22 %	44.50 %
Q4 2008	62.58 %	62.26 %	54.53 %
Q1 2009	52.17 %	59.55 %	43.35 %
Q2 2009	50.67 %	60.30 %	46.94 %
Q3 2009	48.14 %	59.75 %	40.01 %
Q4 2009	50.71 %	61.51 %	42.26 %
Q1 2010	50.11 %	57.49 %	42.97 %
Q2 2010	52.33 %	59.66 %	45.34 %
Q3 2010	50.12 %	59.93 %	42.89 %
Q4 2010	48.70 %	57.39 %	41.35 %
Q1 2011	57.58 %	61.94 %	49.83 %
Q2 2011	52.58 %	59.67 %	46.17 %
Q3 2011	57.90 %	62.74 %	50.42 %
Q4 2011	54.14 %	60.98 %	47.74 %
Q1 2012	55.16 %	59.43 %	50.93 %
Q2 2012	53.50 %	58.21 %	49.11 %
Q3 2012	55.04 %	61.97 %	48.36 %
Q4 2012	59.63 %	64.88 %	51.21 %
Q1 2013	61.06 %	65.52 %	55.54 %
Q2 2013	54.27 %	58.43 %	49.03 %
Q3 2013	57.22 %	63.17 %	50.33 %
Q4 2013	62.84 %	67.23 %	50.17 %
Q1 2014	60.98 %	66.09 %	53.49 %
Q2 2014	59.96 %	64.41 %	53.55 %
Q3 2014	62.11 %	67.73 %	54.43 %
Q4 2014	60.06 %	64.70 %	50.98 %
Q1 2015	61.58 %	66.04 %	55.02 %
Q2 2015	56.83 %	62.90 %	50.80 %
Q3 2015	58.43 %	66.46 %	52.11 %
Q4 2015	57.92 %	63.34 %	50.01 %
Q1 2016	58.24 %	64.50 %	51.80 %
Q2 2016	56.61 %	62.88 %	50.01 %
Q3 2016	61.91 %	70.83 %	53.93 %
Q4 2016	55.57 %	63.40 %	46.97 %
Q1 2017	55.20 %	63.75 %	47.55 %
Q2 2017	44.96 %	56.09 %	34.87 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2008	153.00	4.51	4.51	15.68
Q2 2008	153.00	4.40	4.40	16.81
Q3 2008	153.00	4.30	4.30	17.75
Q4 2008	153.00	4.06	4.06	18.61
Q1 2009	153.00	3.92	3.92	17.26
Q2 2009	153.00	3.90	3.90	18.35
Q3 2009	153.00	3.75	3.75	19.16
Q4 2009	153.00	3.81	3.81	20.07
Q1 2010	153.00	3.97	3.97	18.88
Q2 2010	153.00	4.12	4.12	20.12
Q3 2010	153.00	4.23	4.23	21.05
Q4 2010	153.00	4.31	4.31	22.03
Q1 2011	153.00	4.53	4.53	23.41
Q2 2011	153.00	4.69	4.69	18.80
Q3 2011	153.00	5.05	5.05	20.07
Q4 2011	153.00	5.43	5.43	21.45
Q1 2012	153.00	6.18	6.18	19.07
Q2 2012	153.00	6.68	6.68	17.46
Q3 2012	153.00	6.78	6.78	18.83
Q4 2012	153.00	7.20	7.20	20.64
Q1 2013	153.00	7.30	7.30	19.35
Q2 2013	153.00	7.41	7.41	17.86
Q3 2013	153.00	7.54	7.54	19.35
Q4 2013	153.00	7.35	7.35	20.97
Q1 2014	153.00	6.99	6.99	19.33
Q2 2014	153.00	6.87	6.87	17.38
Q3 2014	153.00	6.88	6.88	18.90
Q4 2014	153.00	7.02	7.02	20.65
Q1 2015	153.00	7.13	7.13	20.12
Q2 2015	153.00	6.91	6.91	18.77
Q3 2015	153.00	6.75	6.75	20.13
Q4 2015	153.00	6.15	6.58	21.28
Q1 2016	153.00	5.88	6.31	19.37
Q2 2016	153.00	5.85	6.28	18.25
Q3 2016	153.00	5.82	6.25	19.57
Q4 2016	153.00	5.89	5.89	20.85
Q1 2017	153.00	5.25	5.25	21.92
Q2 2017	153.00	4.23	4.23	17.54

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2007	153.00	4.49	4.49	17.90
2008	153.00	4.06	4.06	18.61
2009	153.00	3.81	3.81	20.07
2010	153.00	4.31	4.31	22.03
2011	153.00	5.43	5.43	21.45
2012	153.00	7.20	7.20	20.64
2013	153.00	7.35	7.35	20.97
2014	153.00	7.02	7.02	20.65
2015	153.00	6.15	6.58	21.28
2016	153.00	5.89	5.89	20.85

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2008	16.69	16.69	4.80
Q2 2008	17.36	17.36	4.54
Q3 2008	12.79	12.79	3.10
Q4 2008	9.28	9.28	2.02
Q1 2009	9.77	9.77	2.22
Q2 2009	9.75	9.75	2.07
Q3 2009	11.45	11.45	2.24
Q4 2009	10.07	10.07	1.91
Q1 2010	12.27	12.27	2.58
Q2 2010	10.78	10.78	2.21
Q3 2010	10.47	10.47	2.10
Q4 2010	11.55	11.55	2.26
Q1 2011	11.63	11.63	2.25
Q2 2011	13.66	13.66	3.41
Q3 2011	12.54	12.54	3.15
Q4 2011	13.25	13.25	3.36
Q1 2012	13.67	13.67	4.43
Q2 2012	13.51	13.51	5.17
Q3 2012	12.99	12.99	4.67
Q4 2012	13.19	13.19	4.60
Q1 2013	12.33	12.33	4.65
Q2 2013	13.63	13.63	5.66
Q3 2013	14.33	14.33	5.58
Q4 2013	13.82	13.82	4.84
Q1 2014	15.23	15.23	5.51
Q2 2014	16.78	16.78	6.63
Q3 2014	16.59	16.59	6.04
Q4 2014	13.63	13.63	4.63
Q1 2015	12.58	12.58	4.46
Q2 2015	14.00	14.00	5.15
Q3 2015	10.63	10.63	3.56
Q4 2015	10.56	9.86	3.05
Q1 2016	10.73	9.99	3.26
Q2 2016	10.80	10.05	3.46
Q3 2016	9.55	8.89	2.84
Q4 2016	12.09	12.09	3.42
Q1 2017	11.40	11.40	2.73
Q2 2017	12.27	12.27	2.96

Period	P/E	Adjusted P/E	Price/book
2007	18.87	18.87	4.73
2008	9.28	9.28	2.02
2009	10.07	10.07	1.91
2010	11.55	11.55	2.26
2011	13.25	13.25	3.36
2012	13.19	13.19	4.60
2013	13.82	13.82	4.84
2014	13.63	13.63	4.63
2015	10.56	9.86	3.05
2016	12.09	12.09	3.42

Analysts Estimates (Million)

Item	Q2 2017 (e)	Q2 2017 (a)	Change‬
Average	137.95	93.95	(31.9 %)

Estimates vs Actual (Million)

Item	Q2 2017 (e)	Q2 2017 (a)	Change
Sico	108.00	93.95	(13.0) %
Riyad Capital	127.00	93.95	(26.0) %
KASB Capital	133.20	93.95	(29.5) %
Hermes	136.00	93.95	(30.9) %
AlJazira Capital	136.10	93.95	(31.0) %
Al Rajhi Capital	138.00	93.95	(31.9) %
SNB Capital	144.00	93.95	(34.8) %
Albilad Capital	144.00	93.95	(34.8) %
OSOOL AND BAKHEET	153.20	93.95	(38.7) %
HSBC	160.00	93.95	(41.3) %

Financial Ratios

	Current
Market Cap (M Riyal)	6,609.60
Enterprise Value (EV) (M)	6,764.66
Shares Outstanding ((M))	153.00
EPS ( Riyal) (TTM)	2.42
Book Value (BV) ( Riyal)	14.86
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	17.82
P/E (TTM)	17.82
Price/book	2.91
Return on Average Assets (%) (TTM)	11.3
Return on Average Equity (%) (TTM)	15.8

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 Cement’s H1 net profit drops 49% YoY

View other reports

Share Price

Saudi Cement Co. (SAUDI CEMENT)

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

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 Cement’s H1 net profit drops 49% YoY

View other reports

Share Price

Saudi Cement Co. (SAUDI CEMENT)

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

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}}