Halwani Bros Q1 profit falls 19% on higher COGS

09/05/2018 Argaam Exclusive

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Share Price

Halwani Bros. Co.
48.30
0.00 0.00 %

Halwani Bros. Co. (HB)

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Halwani Bros. reported a net profit of SAR 16.5 million for the first quarter of 2018, a 19.12 percent year-on-year (YoY) decrease due to higher cost of goods sold (COGS) in Saudi Arabia and Egypt, as well as an increase in discounts in both countries.

Q1 net profit fell 17.5 percent compared to the previous quarter on higher cost of goods sold and discounts in both Saudi Arabia and Egypt.



Current Quarter Comparison (M)

Compared With The
Item Q1 2017 Q1 2018 Change‬
Revenues 203.48 215.72 6.0 %
Gross Income 71.08 61.41 (13.6 %)
Operating Income 29.24 24.99 (14.5 %)
Net Income 20.42 16.48 (19.3 %)
Average Shares 35.36 35.36 -
EPS (Riyals) 0.58 0.47 (19.3 %)


Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Riyal)
Q1 2009 168.33 10.8 % 43.82 14.4 % 12.48 (60.5 %) 0.35
Q2 2009 154.28 (7.9 %) 46.99 11.2 % 11.94 32.1 % 0.34
Q3 2009 142.59 (21.1 %) 45.40 8.8 % 9.89 (2.6 %) 0.28
Q4 2009 152.06 (6.9 %) 48.75 27.1 % 8.33 9.7 % 0.24
Q1 2010 173.15 2.9 % 57.58 31.4 % 20.96 68.0 % 0.59
Q2 2010 179.15 16.1 % 59.23 26.0 % 21.71 81.7 % 0.61
Q3 2010 186.07 30.5 % 58.71 29.3 % 20.27 105.1 % 0.57
Q4 2010 193.61 27.3 % 62.43 28.1 % 17.46 109.5 % 0.49
Q1 2011 193.89 12.0 % 61.67 7.1 % 21.68 3.4 % 0.61
Q2 2011 215.58 20.3 % 66.43 12.2 % 23.37 7.7 % 0.66
Q3 2011 206.20 10.8 % 60.03 2.2 % 19.63 (3.2 %) 0.56
Q4 2011 197.98 2.3 % 55.38 (11.3 %) 15.84 (9.3 %) 0.45
Q1 2012 216.74 11.8 % 66.53 7.9 % 18.09 (16.5 %) 0.51
Q2 2012 223.52 3.7 % 68.51 3.1 % 22.79 (2.5 %) 0.64
Q3 2012 226.27 9.7 % 67.70 12.8 % 20.68 5.3 % 0.58
Q4 2012 225.65 14.0 % 74.97 35.4 % 25.44 60.6 % 0.72
Q1 2013 250.03 15.4 % 86.45 29.9 % 30.93 70.9 % 0.87
Q2 2013 238.86 6.9 % 72.85 6.3 % 21.91 (3.8 %) 0.62
Q3 2013 227.85 0.7 % 60.26 (11.0 %) 17.14 (17.1 %) 0.48
Q4 2013 241.35 7.0 % 67.14 (10.4 %) 22.54 (11.4 %) 0.64
Q1 2014 266.05 6.4 % 79.52 (8.0 %) 23.63 (23.6 %) 0.67
Q2 2014 273.89 14.7 % 82.08 12.7 % 23.09 5.3 % 0.65
Q3 2014 260.94 14.5 % 74.77 24.1 % 20.46 19.3 % 0.58
Q4 2014 264.08 9.4 % 72.00 7.2 % 23.64 4.9 % 0.67
Q1 2015 287.02 7.9 % 85.38 7.4 % 25.93 9.7 % 0.73
Q2 2015 267.75 (2.2 %) 81.70 (0.5 %) 23.06 (0.1 %) 0.65
Q3 2015 257.76 (1.2 %) 83.94 12.3 % 27.42 34.0 % 0.78
Q4 2015 262.74 (0.5 %) 83.24 15.6 % 38.70 63.7 % 1.09
Q1 2016 277.84 (3.2 %) 91.20 6.8 % 13.66 (47.3 %) 0.39
Q2 2016 236.74 (11.6 %) 79.36 (2.9 %) 32.90 42.7 % 0.93
Q3 2016 257.85 0.0 % 85.54 1.9 % 22.36 (18.5 %) 0.63
Q4 2016 215.21 (18.1 %) 74.61 (10.4 %) (17.01) (144.0 %) (0.48)
Q1 2017 203.48 (26.8 %) 71.08 (22.1 %) 20.42 49.5 % 0.58
Q2 2017 192.28 (18.8 %) 58.05 (26.8 %) 12.14 (63.1 %) 0.34
Q3 2017 222.02 (13.9 %) 67.68 (20.9 %) 18.79 (16.0 %) 0.53
Q4 2017 216.81 0.7 % 74.71 0.1 % 20.00 217.6 % 0.57
Q1 2018 215.72 6.0 % 61.41 (13.6 %) 16.48 (19.3 %) 0.47

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2009 24.45 % 10.64 % 5.83 %
Q2 2009 25.64 % 11.42 % 6.48 %
Q3 2009 27.78 % 12.44 % 6.83 %
Q4 2009 29.97 % 13.21 % 6.91 %
Q1 2010 31.95 % 14.47 % 8.22 %
Q2 2010 32.61 % 15.30 % 9.41 %
Q3 2010 32.48 % 15.74 % 10.32 %
Q4 2010 32.51 % 15.78 % 10.98 %
Q1 2011 32.16 % 15.69 % 10.78 %
Q2 2011 31.58 % 15.52 % 10.49 %
Q3 2011 30.96 % 15.48 % 10.15 %
Q4 2011 29.93 % 15.20 % 9.90 %
Q1 2012 29.69 % 14.77 % 9.20 %
Q2 2012 29.66 % 14.96 % 9.04 %
Q3 2012 29.86 % 15.13 % 8.95 %
Q4 2012 31.13 % 16.21 % 9.75 %
Q1 2013 32.16 % 17.46 % 10.79 %
Q2 2013 32.10 % 17.48 % 10.52 %
Q3 2013 31.25 % 16.73 % 10.13 %
Q4 2013 29.92 % 16.38 % 9.66 %
Q1 2014 28.72 % 15.22 % 8.75 %
Q2 2014 28.64 % 15.02 % 8.56 %
Q3 2014 29.12 % 15.36 % 8.61 %
Q4 2014 28.96 % 14.99 % 8.53 %
Q1 2015 28.94 % 15.25 % 8.58 %
Q2 2015 29.07 % 15.08 % 8.62 %
Q3 2015 30.00 % 15.59 % 9.29 %
Q4 2015 31.09 % 16.11 % 10.50 %
Q1 2016 31.90 % 16.38 % 9.22 %
Q2 2016 32.63 % 16.83 % 10.45 %
Q3 2016 32.78 % 17.17 % 9.96 %
Q4 2016 33.48 % 17.18 % 10.89 %
Q1 2017 34.01 % 17.69 % 12.76 %
Q2 2017 33.30 % 17.05 % 11.03 %
Q3 2017 32.58 % 16.56 % 11.07 %
Q4 2017 32.53 % 16.91 % 8.22 %
Q1 2018 30.92 % 16.20 % 7.64 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2009 35.36 1.11 1.12 12.82
Q2 2009 35.36 1.19 1.22 13.13
Q3 2009 35.36 1.19 1.21 12.85
Q4 2009 35.36 1.21 1.21 13.10
Q1 2010 35.36 1.45 1.45 13.68
Q2 2010 35.36 1.72 1.72 13.34
Q3 2010 35.36 2.02 2.02 13.92
Q4 2010 35.36 2.27 2.27 14.35
Q1 2011 35.36 2.29 2.29 13.61
Q2 2011 35.36 2.34 2.34 14.26
Q3 2011 35.36 2.32 2.32 14.80
Q4 2011 35.36 2.28 2.28 15.21
Q1 2012 35.36 2.18 2.18 15.67
Q2 2012 35.36 2.16 2.16 14.63
Q3 2012 35.36 2.19 2.19 15.22
Q4 2012 35.36 2.46 2.46 15.87
Q1 2013 35.36 2.82 2.82 14.75
Q2 2013 35.36 2.80 2.80 15.28
Q3 2013 35.36 2.70 2.70 15.80
Q4 2013 35.36 2.62 2.62 16.43
Q1 2014 35.36 2.41 2.41 17.08
Q2 2014 35.36 2.44 2.44 16.02
Q3 2014 35.36 2.54 2.54 16.56
Q4 2014 35.36 2.57 2.57 17.27
Q1 2015 35.36 2.63 2.63 17.78
Q2 2015 35.36 2.63 2.63 16.76
Q3 2015 35.36 2.83 2.83 17.48
Q4 2015 35.36 3.26 3.19 18.58
Q1 2016 35.36 2.91 2.78 16.74
Q2 2016 35.36 3.19 3.06 17.38
Q3 2016 35.36 3.04 2.92 18.02
Q4 2016 35.36 1.47 3.04 14.97
Q1 2017 35.36 1.66 3.30 15.58
Q2 2017 35.36 1.07 2.71 13.91
Q3 2017 35.36 0.97 2.61 14.47
Q4 2017 35.36 2.02 1.94 14.99
Q1 2018 35.36 1.91 1.83 14.30

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2009 18.29 18.14 1.59
Q2 2009 25.61 25.02 2.33
Q3 2009 25.24 24.64 2.33
Q4 2009 23.90 23.90 2.20
Q1 2010 21.44 21.44 2.27
Q2 2010 20.22 20.22 2.61
Q3 2010 20.07 20.07 2.91
Q4 2010 16.03 16.03 2.54
Q1 2011 13.20 13.20 2.22
Q2 2011 14.37 14.37 2.36
Q3 2011 14.17 14.17 2.22
Q4 2011 21.86 21.86 3.27
Q1 2012 20.72 20.72 2.88
Q2 2012 14.90 14.90 2.20
Q3 2012 16.86 16.86 2.42
Q4 2012 15.30 15.30 2.37
Q1 2013 15.29 15.29 2.93
Q2 2013 18.68 18.68 3.42
Q3 2013 21.56 21.56 3.68
Q4 2013 20.07 20.07 3.20
Q1 2014 29.04 29.04 4.10
Q2 2014 28.78 28.78 4.39
Q3 2014 29.88 29.88 4.58
Q4 2014 28.17 28.17 4.19
Q1 2015 26.84 26.84 3.98
Q2 2015 31.54 31.54 4.95
Q3 2015 26.03 26.03 4.21
Q4 2015 19.66 20.04 3.44
Q1 2016 19.31 20.20 3.36
Q2 2016 17.33 18.05 3.18
Q3 2016 14.13 14.75 2.39
Q4 2016 38.46 18.57 3.77
Q1 2017 28.34 14.26 3.02
Q2 2017 42.10 16.66 3.25
Q3 2017 46.40 17.27 3.11
Q4 2017 22.87 23.78 3.08
Q1 2018 27.46 28.61 3.66

Business Segments (Million)

Compared With The
Period Meat products Sesame products Other products
Q1 2017 65.09 72.59 65.79
Q2 2017 65.34 57.68 69.27
Q3 2017 106.85 62.91 52.25
Q4 2017 83.09 73.40 60.33
Q1 2018 82.59 71.05 62.08


Financial Ratios
Current
Market Cap (M Riyal) 1,707.89
Enterprise Value (EV) (M) -
Shares Outstanding ((M)) 35.36
EPS ( Riyal) (TTM) (2.95)
Book Value (BV) ( Riyal) 6.89
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 7.01
Return on Average Assets (%) (TTM) (11.79 )
Return on Average Equity (%) (TTM) (31.96 )
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