Hail Cement turns to profit in H1 2019

04/08/2019 Argaam Exclusive

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Share Price

Hail Cement Co. (HCC)

Hail Cement Co. reported a net profit after zakat and tax of SAR 20.6 million in the first half of 2019, compared to a net loss of SAR 13.8 million a year earlier, attributed to higher revenue and selling prices.

Financials (M)

Item	6m 2018	6m 2019	Change‬
Revenues	90.00	122.00	35.6 %
Gross Income	(0.60)	33.34	5684.4 %
Operating Income	(11.92)	21.86	283.4 %
Net Income	(13.77)	20.63	249.8 %
Average Shares	97.90	97.90	-
EPS (Riyals)	(0.14)	0.21	249.8 %

The firm was able to cut its losses in Q2 2019 by 89.3 percent year-on-year to SAR 1.92 million versus around SAR 18 million loss in Q2 2018, due to an increase in revenue and selling prices.

Meanwhile, Q2 2019 net loss was compared to a net profit of SAR 22.5 million in Q1 2019 on a planned production halt and incurred losses from charges in the fair value of investments.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2018	Q2 2019	Change‬
Revenues	41.27	53.43	29.5 %
Gross Income	(10.15)	6.17	160.8 %
Operating Income	(15.82)	0.34	102.1 %
Net Income	(18.00)	(1.92)	89.3 %
Average Shares	97.90	97.90	-
EPS (Riyals)	(0.18)	(0.02)	89.3 %

Item	Q1 2019	Q2 2019	Change‬
Revenues	68.57	53.43	(22.1 %)
Gross Income	27.17	6.17	(77.3 %)
Operating Income	21.52	0.34	(98.4 %)
Net Income	22.55	(1.92)	(108.5 %)
Average Shares	97.90	97.90	-
EPS (Riyals)	0.23	(0.02)	(108.5 %)

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
Q1 2010	-	-	-	-	-	-	-
Q2 2010	-	-	-	-	-	-	-
Q3 2010	-	-	-	-	-	-	-
Q4 2010	-	-	-	-	-	-	-
2010	-	-	-	-	(10.60)	-	(0.11)
Q1 2011	-	-	-	-	-	-	-
Q2 2011	-	-	-	-	-	-	-
Q3 2011	-	-	-	-	-	-	-
Q4 2011	-	-	-	-	-	-	-
2011	-	-	-	-	(40.94)	(286.2 %)	(0.42)
Q1 2012	-	-	-	-	(6.32)	-	(0.06)
Q2 2012	-	-	-	-	(8.60)	-	(0.09)
Q3 2012	-	-	-	-	(3.39)	-	(0.03)
Q4 2012	-	-	-	-	(8.47)	-	(0.09)
2012	-	-	-	-	(26.78)	34.6 %	(0.27)
Q1 2013	-	-	-	-	(13.93)	(120.2 %)	(0.14)
Q2 2013	54.67	-	26.36	-	18.55	315.8 %	0.19
Q3 2013	45.99	-	24.59	-	16.94	599.9 %	0.17
Q4 2013	58.35	-	29.78	-	28.91	441.3 %	0.30
2013	159.02	-	80.72	-	50.47	288.5 %	0.52
Q1 2014	83.48	-	44.23	-	35.10	352.0 %	0.36
Q2 2014	100.71	84.2 %	54.60	107.2 %	46.00	148.0 %	0.47
Q3 2014	79.78	73.5 %	32.33	31.5 %	25.10	48.2 %	0.26
Q4 2014	91.81	57.3 %	52.85	77.5 %	40.86	41.3 %	0.42
2014	355.77	123.7 %	184.01	127.9 %	147.06	191.4 %	1.50
Q1 2015	87.43	4.7 %	48.51	9.7 %	37.50	6.8 %	0.38
Q2 2015	99.68	(1.0 %)	38.01	(30.4 %)	28.64	(37.7 %)	0.29
Q3 2015	77.73	(2.6 %)	36.60	13.2 %	17.45	(30.5 %)	0.18
Q4 2015	91.52	(0.3 %)	41.16	(22.1 %)	29.95	(26.7 %)	0.31
2015	356.36	0.2 %	164.28	(10.7 %)	113.55	(22.8 %)	1.16
Q1 2016	89.45	2.3 %	46.41	(4.3 %)	32.30	(13.9 %)	0.33
Q2 2016	75.09	(24.7 %)	34.50	(9.2 %)	26.84	(6.3 %)	0.27
Q3 2016	58.22	(25.1 %)	31.56	(13.8 %)	19.31	10.7 %	0.20
Q4 2016	49.36	(46.1 %)	22.81	(44.6 %)	21.21	(29.2 %)	0.22
2016	272.12	(23.6 %)	135.28	(17.6 %)	99.65	(12.2 %)	1.02
Q1 2017	44.44	(50.3 %)	17.04	(63.3 %)	8.28	(74.4 %)	0.08
Q2 2017	32.16	(57.2 %)	11.11	(67.8 %)	2.66	(90.1 %)	0.03
Q3 2017	36.89	(36.6 %)	9.27	(70.6 %)	0.65	(96.6 %)	0.01
Q4 2017	51.05	3.4 %	13.36	(41.4 %)	3.96	(81.3 %)	0.04
2017	164.54	(39.5 %)	50.77	(62.5 %)	15.54	(84.4 %)	0.16
Q1 2018	48.73	9.7 %	9.55	(43.9 %)	4.23	(48.9 %)	0.04
Q2 2018	41.27	28.3 %	(10.15)	(191.4 %)	(18.00)	(776.9 %)	(0.18)
Q3 2018	41.00	11.2 %	(10.23)	(210.4 %)	(18.31)	(2917.4 %)	(0.19)
Q4 2018	64.98	27.3 %	21.96	64.4 %	7.05	78.3 %	0.07
2018	195.98	19.1 %	11.13	(78.1 %)	(25.03)	(261.1 %)	(0.26)
Q1 2019	68.57	40.7 %	27.17	184.5 %	22.55	433.4 %	0.23
Q2 2019	53.43	29.5 %	6.17	160.8 %	(1.92)	89.3 %	(0.02)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
2009	-	-	-	-	-	-	-
2010	-	-	-	-	(10.60)	-	(0.11)
2011	-	-	-	-	(40.94)	(286.2 %)	(0.42)
2012	-	-	-	-	(26.78)	34.6 %	(0.27)
2013	159.02	-	80.72	-	50.47	288.5 %	0.52
2014	355.77	123.7 %	184.01	127.9 %	147.06	191.4 %	1.50
2015	356.36	0.2 %	164.28	(10.7 %)	113.55	(22.8 %)	1.16
2016	272.12	(23.6 %)	135.28	(17.6 %)	99.65	(12.2 %)	1.02
2017	164.54	(39.5 %)	50.77	(62.5 %)	15.54	(84.4 %)	0.16
2018	195.98	19.1 %	11.13	(78.1 %)	(25.03)	(261.1 %)	(0.26)

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2010	-	-	-
Q2 2010	-	-	-
Q3 2010	-	-	-
Q4 2010	-	-	-
2010	-	-	-
Q1 2011	-	-	-
Q2 2011	-	-	-
Q3 2011	-	-	-
Q4 2011	-	-	-
2011	-	-	-
Q1 2012	-	-	-
Q2 2012	-	-	-
Q3 2012	-	-	-
Q4 2012	-	-	-
2012	-	-	-
Q1 2013	-	-	-
Q2 2013	48.21 %	37.85 %	12.00 %
Q3 2013	50.60 %	58.82 %	26.71 %
Q4 2013	50.76 %	71.16 %	40.42 %
2013	50.76 %	72.80 %	40.42 %
Q1 2014	51.53 %	68.21 %	41.03 %
Q2 2014	53.09 %	68.44 %	44.00 %
Q3 2014	49.93 %	64.55 %	41.92 %
Q4 2014	51.72 %	62.17 %	41.34 %
2014	51.72 %	62.17 %	41.34 %
Q1 2015	52.34 %	61.76 %	41.55 %
Q2 2015	47.87 %	56.81 %	36.83 %
Q3 2015	49.34 %	58.03 %	34.89 %
Q4 2015	46.10 %	55.67 %	31.86 %
2015	46.10 %	55.67 %	31.86 %
Q1 2016	45.25 %	55.58 %	30.23 %
Q2 2016	47.54 %	58.59 %	31.92 %
Q3 2016	48.88 %	60.93 %	34.49 %
Q4 2016	49.71 %	64.00 %	36.62 %
2016	49.71 %	64.00 %	36.62 %
Q1 2017	46.63 %	63.96 %	33.30 %
Q2 2017	44.80 %	66.65 %	27.94 %
Q3 2017	36.98 %	61.87 %	20.14 %
Q4 2017	30.86 %	56.53 %	9.45 %
2017	30.86 %	56.53 %	9.45 %
Q1 2018	25.64 %	51.43 %	6.81 %
Q2 2018	12.38 %	37.31 %	(5.15 %)
Q3 2018	1.39 %	26.68 %	(15.45 %)
Q4 2018	5.68 %	27.48 %	(12.77 %)
2018	5.68 %	27.48 %	(12.77 %)
Q1 2019	13.32 %	32.91 %	(3.11 %)
Q2 2019	19.77 %	38.41 %	4.11 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2009	-	-	-
2010	-	-	-
2011	-	-	-
2012	-	-	-
2013	50.76 %	72.80 %	40.42 %
2014	51.72 %	62.17 %	41.34 %
2015	46.10 %	55.67 %	31.86 %
2016	49.71 %	64.00 %	36.62 %
2017	30.86 %	56.53 %	9.45 %
2018	5.68 %	27.48 %	(12.77 %)

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
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	48.21 %	61.07 %	33.92 %
Q3 2013	53.45 %	71.10 %	36.83 %
Q4 2013	51.04 %	77.06 %	49.54 %
Q1 2014	52.98 %	65.10 %	42.05 %
Q2 2014	54.21 %	65.00 %	45.68 %
Q3 2014	40.52 %	54.26 %	31.46 %
Q4 2014	57.57 %	63.26 %	44.50 %
Q1 2015	55.48 %	63.28 %	42.89 %
Q2 2015	38.13 %	47.23 %	28.73 %
Q3 2015	47.09 %	59.80 %	22.45 %
Q4 2015	44.97 %	54.07 %	32.73 %
Q1 2016	51.88 %	62.75 %	36.11 %
Q2 2016	45.95 %	57.88 %	35.74 %
Q3 2016	54.21 %	72.86 %	33.17 %
Q4 2016	46.21 %	65.14 %	42.96 %
Q1 2017	38.34 %	61.25 %	18.62 %
Q2 2017	34.54 %	65.17 %	8.27 %
Q3 2017	25.12 %	55.35 %	1.76 %
Q4 2017	26.17 %	47.82 %	7.75 %
Q1 2018	19.60 %	43.17 %	8.67 %
Q2 2018	(24.60 %)	1.27 %	(43.61 %)
Q3 2018	(24.96 %)	6.31 %	(44.66 %)
Q4 2018	33.80 %	45.73 %	10.86 %
Q1 2019	39.63 %	55.70 %	32.88 %
Q2 2019	11.54 %	31.96 %	(3.60 %)

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2010	-	-	-	-
Q2 2010	-	-	-	-
Q3 2010	-	-	-	-
Q4 2010	-	-	-	-
Q1 2011	-	-	-	-
Q2 2011	-	-	-	-
Q3 2011	-	-	-	-
Q4 2011	-	-	-	-
Q1 2012	97.90	-	-	9.52
Q2 2012	97.90	-	-	9.43
Q3 2012	97.90	-	-	9.39
Q4 2012	97.90	(0.27)	(0.27)	9.31
Q1 2013	97.90	(0.35)	(0.21)	9.17
Q2 2013	97.90	(0.07)	0.07	9.36
Q3 2013	97.90	0.13	0.27	9.53
Q4 2013	97.90	0.52	0.66	9.82
Q1 2014	97.90	1.02	1.02	10.18
Q2 2014	97.90	1.30	1.30	10.65
Q3 2014	97.90	1.38	1.38	10.41
Q4 2014	97.90	1.50	1.50	10.83
Q1 2015	97.90	1.53	1.53	11.21
Q2 2015	97.90	1.35	1.35	10.90
Q3 2015	97.90	1.27	1.27	10.48
Q4 2015	97.90	1.16	1.16	10.79
Q1 2016	97.90	1.11	1.11	10.62
Q2 2016	97.90	1.09	1.09	10.91
Q3 2016	97.90	1.11	1.11	10.61
Q4 2016	97.90	1.02	1.02	10.79
Q1 2017	97.90	0.77	0.77	10.88
Q2 2017	97.90	0.53	0.53	10.45
Q3 2017	97.90	0.33	0.33	10.46
Q4 2017	97.90	0.16	0.16	10.50
Q1 2018	97.90	0.12	0.12	10.54
Q2 2018	97.90	(0.09)	(0.09)	10.32
Q3 2018	97.90	(0.29)	(0.29)	10.13
Q4 2018	97.90	(0.26)	(0.26)	10.22
Q1 2019	97.90	(0.07)	(0.07)	10.44
Q2 2019	97.90	0.10	0.10	10.42

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2009	-	-	-	-
2010	97.90	(0.11)	(0.10)	4.89
2011	97.90	(0.42)	(0.28)	9.58
2012	97.90	(0.27)	(0.27)	9.31
2013	97.90	0.52	0.66	9.82
2014	97.90	1.50	1.50	10.83
2015	97.90	1.16	1.16	10.79
2016	97.90	1.02	1.02	10.79
2017	97.90	0.16	0.16	10.50
2018	97.90	(0.26)	(0.26)	10.22

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2010	-	-	-
Q2 2010	-	-	-
Q3 2010	-	-	-
Q4 2010	-	-	-
Q1 2011	-	-	-
Q2 2011	-	-	-
Q3 2011	-	-	-
Q4 2011	-	-	-
Q1 2012	-	-	2.64
Q2 2012	-	-	1.80
Q3 2012	-	-	2.01
Q4 2012	NEG	NEG	1.99
Q1 2013	NEG	NEG	2.08
Q2 2013	NEG	More than 100	2.15
Q3 2013	More than 100	79.55	2.29
Q4 2013	41.32	32.45	2.17
Q1 2014	23.17	23.17	2.31
Q2 2014	19.93	19.93	2.43
Q3 2014	21.24	21.24	2.82
Q4 2014	15.19	15.19	2.11
Q1 2015	14.75	14.75	2.01
Q2 2015	15.87	15.87	1.96
Q3 2015	13.27	13.27	1.61
Q4 2015	12.38	12.38	1.33
Q1 2016	11.22	11.22	1.17
Q2 2016	11.41	11.41	1.14
Q3 2016	9.38	9.38	0.98
Q4 2016	11.75	11.75	1.11
Q1 2017	14.43	14.43	1.03
Q2 2017	18.38	18.38	0.92
Q3 2017	26.87	26.87	0.86
Q4 2017	62.36	62.36	0.94
Q1 2018	78.97	78.97	0.88
Q2 2018	NEG	NEG	0.88
Q3 2018	NEG	NEG	0.79
Q4 2018	NEG	NEG	0.77
Q1 2019	NEG	NEG	0.80
Q2 2019	93.67	93.67	0.86

Period	P/E	Adjusted P/E	Price/book
2009	-	-	-
2010	-	-	-
2011	NEG	NEG	1.60
2012	NEG	NEG	1.99
2013	41.32	32.45	2.17
2014	15.19	15.19	2.11
2015	12.38	12.38	1.33
2016	11.75	11.75	1.11
2017	62.36	62.36	0.94
2018	NEG	NEG	0.77

Analysts Estimates (Million)

Item	Q2 2019 (e)	Q2 2019 (a)	Change‬
Average	16.10	(1.92)	(111.9 %)

Estimates vs Actual (Million)

Item	Q2 2019 (e)	Q2 2019 (a)	Change
OSOOL AND BAKHEET	16.10	(1.92)	(111.9) %

Financial Ratios

	Current
Market Cap (M Riyal)	1,121.93
Enterprise Value (EV) (M)	1,017.01
Shares Outstanding ((M))	97.90
EPS ( Riyal) (TTM)	0.22
Book Value (BV) ( Riyal)	10.02
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	More than 100
P/E (TTM)	More than 100
Price/book	1.14
Return on Average Assets (%) (TTM)	1.9
Return on Average Equity (%) (TTM)	2.0

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Hail Cement turns to profit in H1 2019

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Share Price

Hail Cement Co. (HCC)

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

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Hail Cement turns to profit in H1 2019

View other reports

Share Price

Hail Cement Co. (HCC)

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

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