Zamil Industrial widens loss in 9M 2019 on lower sales

31/10/2019 Argaam Exclusive

View other reports

Share Price

21.78
(0.22) (1.00 %)

Zamil Industrial Investment Co. (ZAMIL INDUST)

Zamil Industrial widened net losses by more than double year-on-year (YoY) to SAR 124.83 million for the first nine months of 2019, driven by lower sales of air conditioning segment on delayed projects.

 

The company also cited lower gross profit margins.



Financials (M)

Item 9m 2018 9m 2019 Change‬
Revenues 3,105.07 3,163.98 1.9 %
Gross Income 480.02 373.93 (22.1 %)
Operating Income 43.28 (49.67) (214.8 %)
Net Income (46.78) (124.84) (166.9 %)
Average Shares 60.00 60.00 -
EPS (Riyals) (0.78) (2.08) (166.9 %)

Net losses widened for Q3 2019 by 24.6 percent YoY to SAR 28.13 million, due to lower gross profit margins on pressured selling prices and fierce competition.

 

On a sequential basis, Q3 2019 net losses shrank by 43.2 percent.



Current Quarter Comparison (M)

Compared With The
Item Q3 2018 Q3 2019 Change‬
Revenues 1,074.18 1,096.44 2.1 %
Gross Income 163.36 144.07 (11.8 %)
Operating Income 6.98 6.22 (10.9 %)
Net Income (22.58) (28.13) (24.6 %)
Average Shares 60.00 60.00 -
EPS (Riyals) (0.38) (0.47) (24.6 %)


Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Riyal)
Q1 2010 927.09 (18.8 %) 221.50 (5.5 %) 55.05 4.9 % 0.92
Q2 2010 1,078.27 (6.1 %) 242.72 8.3 % 63.01 5.3 % 1.05
Q3 2010 963.43 2.0 % 212.14 (3.1 %) 31.74 (41.0 %) 0.53
Q4 2010 1,049.63 8.2 % 319.07 16.3 % 61.33 (4.2 %) 1.02
Q1 2011 966.72 4.3 % 220.82 (0.3 %) 36.76 (33.2 %) 0.61
Q2 2011 1,325.21 22.9 % 281.04 15.8 % 47.93 (23.9 %) 0.80
Q3 2011 1,167.19 21.1 % 259.49 22.3 % 33.55 5.7 % 0.56
Q4 2011 1,268.58 20.9 % 289.88 (9.1 %) 35.95 (41.4 %) 0.60
Q1 2012 1,102.10 14.0 % 240.61 9.0 % 37.51 2.1 % 0.63
Q2 2012 1,344.79 1.5 % 283.54 0.9 % 55.77 16.4 % 0.93
Q3 2012 1,281.54 9.8 % 273.15 5.3 % 46.79 39.4 % 0.78
Q4 2012 1,626.45 28.2 % 367.82 26.9 % 61.39 70.7 % 1.02
Q1 2013 1,242.94 12.8 % 299.76 24.6 % 62.69 67.1 % 1.04
Q2 2013 1,431.03 6.4 % 314.89 11.1 % 63.60 14.0 % 1.06
Q3 2013 1,374.40 7.2 % 316.78 16.0 % 48.96 4.6 % 0.82
Q4 2013 1,365.61 (16.0 %) 375.38 2.1 % 60.11 (2.1 %) 1.00
Q1 2014 1,292.86 4.0 % 305.51 1.9 % 66.01 5.3 % 1.10
Q2 2014 1,386.01 (3.1 %) 316.09 0.4 % 73.02 14.8 % 1.22
Q3 2014 1,290.68 (6.1 %) 311.69 (1.6 %) 56.39 15.2 % 0.94
Q4 2014 1,485.87 8.8 % 400.78 6.8 % 64.92 8.0 % 1.08
Q1 2015 1,258.95 (2.6 %) 305.42 0.0 % 73.73 11.7 % 1.23
Q2 2015 1,438.81 3.8 % 317.26 0.4 % 74.36 1.8 % 1.24
Q3 2015 1,338.31 3.7 % 308.04 (1.2 %) 57.46 1.9 % 0.96
Q4 2015 1,452.53 (2.2 %) 374.57 (6.5 %) 57.45 (11.5 %) 0.96
Q1 2016 1,223.17 (2.8 %) 281.32 (7.9 %) 52.90 (28.3 %) 0.88
Q2 2016 1,408.33 (2.1 %) 308.91 (2.6 %) 51.22 (31.1 %) 0.85
Q3 2016 1,099.22 (17.9 %) 241.85 (21.5 %) 41.15 (28.4 %) 0.69
Q4 2016 1,198.51 (17.5 %) 299.84 (19.9 %) 1.11 (98.1 %) 0.02
Q1 2017 997.94 (18.4 %) 209.59 (25.5 %) 41.78 (21.0 %) 0.70
Q2 2017 1,125.43 (20.1 %) 237.43 (23.1 %) 36.45 (28.8 %) 0.61
Q3 2017 1,023.00 (6.9 %) 195.24 (19.3 %) 21.94 (46.7 %) 0.37
Q4 2017 1,257.49 4.9 % 269.35 (10.2 %) 4.85 337.1 % 0.08
Q1 2018 970.00 (2.8 %) 177.03 (15.5 %) 15.57 (62.7 %) 0.26
Q2 2018 1,060.89 (5.7 %) 143.21 (39.7 %) (39.77) (209.1 %) (0.66)
Q3 2018 1,074.18 5.0 % 163.36 (16.3 %) (22.58) (202.9 %) (0.38)
Q4 2018 1,208.58 (3.9 %) 235.35 (12.6 %) (93.06) (2017.9 %) (1.55)
Q1 2019 1,020.98 5.3 % 127.76 (27.8 %) (47.15) (402.9 %) (0.79)
Q2 2019 1,046.57 (1.4 %) 102.10 (28.7 %) (49.55) (24.6 %) (0.83)
Q3 2019 1,096.44 2.1 % 144.07 (11.8 %) (28.13) (24.6 %) (0.47)

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2010 23.53 % 11.80 % 5.83 %
Q2 2010 24.42 % 11.94 % 6.02 %
Q3 2010 24.14 % 11.15 % 5.43 %
Q4 2010 24.77 % 10.10 % 5.25 %
Q1 2011 24.51 % 9.65 % 4.75 %
Q2 2011 24.00 % 9.48 % 4.13 %
Q3 2011 23.96 % 9.63 % 3.98 %
Q4 2011 22.24 % 8.46 % 3.26 %
Q1 2012 22.02 % 8.53 % 3.19 %
Q2 2012 21.99 % 8.65 % 3.33 %
Q3 2012 21.76 % 8.72 % 3.52 %
Q4 2012 21.76 % 9.60 % 3.76 %
Q1 2013 22.28 % 9.83 % 4.12 %
Q2 2013 22.49 % 9.71 % 4.20 %
Q3 2013 22.90 % 9.63 % 4.17 %
Q4 2013 24.14 % 10.06 % 4.35 %
Q1 2014 24.02 % 9.98 % 4.37 %
Q2 2014 24.24 % 10.24 % 4.58 %
Q3 2014 24.53 % 10.52 % 4.79 %
Q4 2014 24.45 % 10.36 % 4.95 %
Q1 2015 24.61 % 10.47 % 5.13 %
Q2 2015 24.39 % 10.36 % 5.10 %
Q3 2015 24.11 % 10.22 % 5.08 %
Q4 2015 23.78 % 10.38 % 5.99 %
Q1 2016 23.50 % 10.08 % 5.65 %
Q2 2016 23.47 % 10.07 % 5.25 %
Q3 2016 23.28 % 10.27 % 5.18 %
Q4 2016 22.96 % 9.76 % 4.80 %
Q1 2017 22.54 % 9.89 % 4.80 %
Q2 2017 22.36 % 9.67 % 4.77 %
Q3 2017 21.68 % 8.92 % 4.41 %
Q4 2017 20.70 % 8.18 % 2.63 %
Q1 2018 20.09 % 7.67 % 2.05 %
Q2 2018 18.20 % 6.04 % 0.31 %
Q3 2018 17.26 % 5.13 % (0.71 %)
Q4 2018 16.67 % 5.05 % (1.01 %)
Q1 2019 15.34 % 3.98 % (2.43 %)
Q2 2019 14.45 % 3.11 % (3.46 %)
Q3 2019 13.93 % 3.21 % (3.57 %)


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2010 60.00 3.88 3.88 19.82
Q2 2010 60.00 3.93 3.93 20.71
Q3 2010 60.00 3.56 3.56 20.56
Q4 2010 60.00 3.52 3.52 21.48
Q1 2011 60.00 3.21 3.21 22.04
Q2 2011 60.00 2.96 2.96 22.08
Q3 2011 60.00 2.99 2.99 21.72
Q4 2011 60.00 2.57 2.57 22.49
Q1 2012 60.00 2.58 2.58 23.22
Q2 2012 60.00 2.71 2.71 23.14
Q3 2012 60.00 2.93 2.93 23.25
Q4 2012 60.00 3.36 3.36 24.15
Q1 2013 60.00 3.78 3.78 25.12
Q2 2013 60.00 3.91 3.91 25.26
Q3 2013 60.00 3.94 3.94 25.37
Q4 2013 60.00 3.92 3.92 26.81
Q1 2014 60.00 3.98 3.98 27.95
Q2 2014 60.00 4.13 4.13 28.10
Q3 2014 60.00 4.26 4.26 28.01
Q4 2014 60.00 4.34 4.50 29.04
Q1 2015 60.00 4.47 4.63 30.27
Q2 2015 60.00 4.49 4.65 30.44
Q3 2015 60.00 4.51 4.67 30.36
Q4 2015 60.00 4.38 5.48 31.42
Q1 2016 60.00 4.04 5.13 28.75
Q2 2016 60.00 3.65 4.75 32.00
Q3 2016 60.00 3.38 4.48 31.67
Q4 2016 60.00 2.44 3.95 27.97
Q1 2017 60.00 2.25 3.76 28.79
Q2 2017 60.00 2.01 3.51 28.41
Q3 2017 60.00 1.69 3.19 27.77
Q4 2017 60.00 1.75 1.93 27.75
Q1 2018 60.00 1.31 1.49 27.81
Q2 2018 60.00 0.04 0.22 26.02
Q3 2018 60.00 (0.70) (0.52) 25.66
Q4 2018 60.00 (2.33) (0.73) 23.60
Q1 2019 60.00 (3.38) (1.77) 22.82
Q2 2019 60.00 (3.54) (2.51) 22.02
Q3 2019 60.00 (3.63) (2.60) 21.53

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2010 12.99 12.99 2.54
Q2 2010 11.09 11.09 2.11
Q3 2010 12.85 12.85 2.23
Q4 2010 9.95 9.95 1.63
Q1 2011 10.64 10.64 1.55
Q2 2011 10.63 10.63 1.43
Q3 2011 9.12 9.12 1.26
Q4 2011 11.36 11.36 1.30
Q1 2012 13.01 13.01 1.45
Q2 2012 10.43 10.43 1.22
Q3 2012 10.06 10.06 1.27
Q4 2012 9.38 9.38 1.30
Q1 2013 8.87 8.87 1.33
Q2 2013 10.47 10.47 1.62
Q3 2013 12.04 12.04 1.87
Q4 2013 11.09 11.09 1.62
Q1 2014 12.88 12.88 1.83
Q2 2014 13.81 13.81 2.03
Q3 2014 15.97 15.97 2.43
Q4 2014 10.83 10.44 1.62
Q1 2015 13.01 12.55 1.92
Q2 2015 12.58 12.14 1.86
Q3 2015 8.87 8.56 1.32
Q4 2015 7.43 5.94 1.04
Q1 2016 7.24 5.69 1.02
Q2 2016 7.70 5.92 0.88
Q3 2016 6.62 5.00 0.71
Q4 2016 12.71 7.86 1.11
Q1 2017 13.20 7.92 1.03
Q2 2017 13.97 7.99 0.99
Q3 2017 15.67 8.28 0.95
Q4 2017 15.35 13.91 0.97
Q1 2018 19.41 17.06 0.92
Q2 2018 More than 100 More than 100 0.93
Q3 2018 NEG NEG 0.78
Q4 2018 NEG NEG 0.74
Q1 2019 NEG NEG 0.78
Q2 2019 NEG NEG 0.77
Q3 2019 NEG NEG 0.83

Business Segments (Million)

Compared With The
Period Air conditioners Manufacture Iron Industry Insulation materials industry Corporate and others Eliminations concrete Headquarters & Others
Q1 2010 337.70 545.52 43.87 - - - -
Q2 2010 460.85 572.51 44.91 - - - -
Q3 2010 397.27 524.28 41.88 - - - -
Q4 2010 440.40 566.99 42.24 - - - -
Q1 2011 348.74 531.70 45.03 - - 41.25 -
Q2 2011 547.89 611.56 125.18 - - 40.58 -
Q3 2011 448.14 606.75 76.96 - - 35.34 -
Q4 2011 491.57 666.96 77.81 - - 32.24 -
Q1 2012 349.88 628.69 95.40 - - 28.13 -
Q2 2012 537.38 681.91 85.93 - - 39.57 -
Q3 2012 508.89 660.32 70.70 - - 41.48 0.15
Q4 2012 788.41 718.44 70.93 - - 47.27 1.39
Q1 2013 474.88 647.71 71.77 - - - 48.58
Q2 2013 648.27 657.97 75.26 - - - 49.53
Q3 2013 602.72 655.39 74.09 - - - 42.20
Q4 2013 502.51 736.22 77.52 - - - 49.36
Q1 2014 502.69 658.11 73.96 - - - 58.11
Q2 2014 610.58 637.54 78.32 - - - 59.58
Q3 2014 601.45 571.21 74.93 - - - 43.08
Q4 2014 749.08 668.66 65.73 - - - 2.40
Q1 2015 547.19 628.68 81.12 - - - 1.96
Q2 2015 698.85 650.62 87.67 - - - 1.67
Q3 2015 569.05 694.71 73.52 - - - 1.03
Q4 2015 661.12 709.80 79.08 - - - 2.53
Q1 2016 496.61 640.12 85.22 6.27 (5.04) - -
Q2 2016 692.41 629.07 85.58 6.85 (5.58) - -
Q3 2016 475.69 544.81 77.21 6.39 (4.88) - -
Q4 2016 576.34 548.25 98.78 8.44 (33.29) - -
Q1 2017 407.19 508.55 84.88 7.27 (9.96) - -
Q2 2017 566.05 485.96 74.75 2.22 (3.56) - -
Q3 2017 506.96 445.42 71.33 3.78 (4.49) - -
Q4 2017 664.59 529.71 68.63 5.73 (11.17) - -
Q1 2018 412.20 482.42 77.11 3.50 (5.24) - -
Q2 2018 456.20 530.63 75.93 4.80 (6.67) - -
Q3 2018 487.31 516.27 69.71 3.32 (2.43) - -
Q4 2018 528.46 611.40 79.40 4.35 (15.02) - -
Q1 2019 374.14 560.36 87.65 2.79 (3.96) - -
Q2 2019 391.14 585.70 71.88 2.43 (4.58) - -
Q3 2019 495.14 544.56 61.24 1.27 (5.78) - -

Current
Market Cap (M Riyal) 1,306.80
Enterprise Value (EV) (M) 3,141.99
Shares Outstanding ((M)) 60.00
EPS ( Riyal) (TTM) (4.64)
Book Value (BV) ( Riyal) 7.27
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 2.99
Return on Average Assets (%) (TTM) (4.52 )
Return on Average Equity (%) (TTM) (47.02 )

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}
loader Train
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.