Aseer turns to SAR 35.7 mln loss in H1

27/07/2016 Argaam Exclusive

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Aseer Trading, Tourism and Manufacturing Co. reported a net loss of SAR 35.7 million for the first half of 2016, versus net profit of SAR 125.3 million in the same period last year, due to lower gross and operating profit, higher G&A expenses, a decrease in gross income and in come from main operations brought on by lower gross income from sales at its subsidiaries. The company also cited revenue losses from investments, and higher financial charges.

Financials (M)

Item	6m 2015	6m 2016	Change‬
Revenues	1,173.73	1,058.56	(9.8 %)
Gross Income	364.85	343.46	(5.9 %)
Operating Income	97.68	71.80	(26.5 %)
Net Income	125.33	(35.04)	(128.0 %)
Average Shares	126.39	126.39	-
EPS (Riyals)	0.99	(0.28)	(128.0 %)

Net profit for second quarter fell 76.7 percent YoY to SAR 15.1 million due to lower gross and operating profit resulting from lower income from sales in affiliates and decreased revenue from investments.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2015	Q2 2016	Change‬
Revenues	580.59	502.82	(13.4 %)
Gross Income	181.00	161.28	(10.9 %)
Operating Income	48.92	25.84	(47.2 %)
Net Income	64.87	15.60	(75.9 %)
Average Shares	126.39	126.39	-
EPS (Riyals)	0.51	0.12	(75.9 %)

Item	Q1 2016	Q2 2016	Change‬
Revenues	555.73	502.82	(9.5 %)
Gross Income	182.18	161.28	(11.5 %)
Operating Income	45.96	25.84	(43.8 %)
Net Income	(50.65)	15.60	130.8 %
Average Shares	126.39	126.39	-
EPS (Riyals)	(0.40)	0.12	130.8 %

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
Q1 2007	359.38	6.1 %	91.70	6.1 %	82.90	10.0 %	0.66
Q2 2007	366.62	4.8 %	96.71	1.4 %	56.56	(24.2 %)	0.45
Q3 2007	355.39	1.9 %	91.24	(6.9 %)	96.34	18.6 %	0.76
Q4 2007	400.75	17.6 %	91.49	6.9 %	127.15	157.3 %	1.01
2007	1,482.13	7.6 %	371.13	1.6 %	362.94	29.3 %	2.87
Q1 2008	397.39	10.6 %	95.82	4.5 %	(77.18)	(193.1 %)	(0.61)
Q2 2008	472.00	28.7 %	111.63	15.4 %	17.04	(69.9 %)	0.13
Q3 2008	428.97	20.7 %	97.62	7.0 %	(158.81)	(264.8 %)	(1.26)
Q4 2008	428.66	7.0 %	113.21	23.7 %	(215.05)	(269.1 %)	(1.70)
2008	1,727.03	16.5 %	418.28	12.7 %	(433.99)	(219.6 %)	(3.43)
Q1 2009	439.73	10.7 %	109.19	14.0 %	12.88	116.7 %	0.10
Q2 2009	438.15	(7.2 %)	128.67	15.3 %	21.17	24.2 %	0.17
Q3 2009	384.21	(10.4 %)	109.69	12.4 %	15.14	109.5 %	0.12
Q4 2009	450.76	5.2 %	128.99	13.9 %	30.59	114.2 %	0.24
2009	1,712.85	(0.8 %)	476.54	13.9 %	79.78	118.4 %	0.63
Q1 2010	491.37	11.7 %	135.70	24.3 %	20.38	58.2 %	0.16
Q2 2010	492.03	12.3 %	150.32	16.8 %	25.57	20.8 %	0.20
Q3 2010	442.40	15.1 %	133.16	21.4 %	15.10	(0.2 %)	0.12
Q4 2010	502.15	11.4 %	145.57	12.9 %	23.80	(22.2 %)	0.19
2010	1,927.96	12.6 %	564.75	18.5 %	84.85	6.3 %	0.67
Q1 2011	480.90	(2.1 %)	135.78	0.1 %	24.68	21.1 %	0.20
Q2 2011	523.09	6.3 %	149.94	(0.3 %)	30.57	19.6 %	0.24
Q3 2011	494.99	11.9 %	130.29	(2.2 %)	20.25	34.1 %	0.16
Q4 2011	505.24	0.6 %	154.29	6.0 %	23.28	(2.2 %)	0.18
2011	2,004.21	4.0 %	570.30	1.0 %	97.93	15.4 %	0.77
Q1 2012	522.07	8.6 %	150.73	11.0 %	29.99	21.5 %	0.24
Q2 2012	532.01	1.7 %	160.59	7.1 %	22.13	(27.6 %)	0.18
Q3 2012	536.54	8.4 %	157.11	20.6 %	25.10	23.9 %	0.20
Q4 2012	530.27	5.0 %	169.41	9.8 %	33.85	45.4 %	0.27
2012	2,120.90	5.8 %	639.33	12.1 %	110.95	13.3 %	0.88
Q1 2013	576.88	10.5 %	186.60	23.8 %	33.39	11.3 %	0.26
Q2 2013	577.62	8.6 %	176.47	9.9 %	29.14	31.6 %	0.23
Q3 2013	561.28	4.6 %	157.30	0.1 %	28.87	15.0 %	0.23
Q4 2013	571.16	7.7 %	163.70	(3.4 %)	40.57	19.9 %	0.32
2013	2,286.93	7.8 %	684.07	7.0 %	131.97	18.9 %	1.04
Q1 2014	601.46	4.3 %	185.05	(0.8 %)	52.73	57.9 %	0.42
Q2 2014	624.98	8.2 %	187.07	6.0 %	64.37	120.9 %	0.51
Q3 2014	607.08	8.2 %	173.79	10.5 %	32.92	14.0 %	0.26
Q4 2014	604.72	5.9 %	193.67	18.3 %	36.24	(10.7 %)	0.29
2014	2,438.23	6.6 %	739.42	8.1 %	184.78	40.0 %	1.46
Q1 2015	593.14	(1.4 %)	183.85	(0.6 %)	60.46	14.7 %	0.48
Q2 2015	580.59	(7.1 %)	181.00	(3.2 %)	64.87	0.8 %	0.51
Q3 2015	553.97	(8.7 %)	178.11	2.5 %	22.47	(31.7 %)	0.18
Q4 2015	444.00	(26.6 %)	165.73	(14.4 %)	12.54	(65.4 %)	0.10
2015	2,339.48	(4.1 %)	738.15	(0.2 %)	160.33	(13.2 %)	1.27
Q1 2016	555.73	(6.3 %)	182.18	(0.9 %)	(50.65)	(183.8 %)	(0.40)
Q2 2016	502.82	(13.4 %)	161.28	(10.9 %)	15.60	(75.9 %)	0.12

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
2006	1,377.86	13.2 %	365.40	12.2 %	280.65	13.1 %	2.22
2007	1,482.13	7.6 %	371.13	1.6 %	362.94	29.3 %	2.87
2008	1,727.03	16.5 %	418.28	12.7 %	(433.99)	(219.6 %)	(3.43)
2009	1,712.85	(0.8 %)	476.54	13.9 %	79.78	118.4 %	0.63
2010	1,927.96	12.6 %	564.75	18.5 %	84.85	6.3 %	0.67
2011	2,004.21	4.0 %	570.30	1.0 %	97.93	15.4 %	0.77
2012	2,120.90	5.8 %	639.33	12.1 %	110.95	13.3 %	0.88
2013	2,286.93	7.8 %	684.07	7.0 %	131.97	18.9 %	1.04
2014	2,438.23	6.6 %	739.42	8.1 %	184.78	40.0 %	1.46
2015	2,339.48	(4.1 %)	738.15	(0.2 %)	160.33	(13.2 %)	1.27

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2007	26.50 %	8.66 %	20.61 %
Q2 2007	26.28 %	8.81 %	19.08 %
Q3 2007	25.68 %	8.36 %	20.06 %
Q4 2007	25.04 %	8.27 %	24.49 %
2007	25.04 %	8.27 %	24.49 %
Q1 2008	24.69 %	8.47 %	13.35 %
Q2 2008	24.00 %	7.99 %	10.05 %
Q3 2008	23.34 %	7.85 %	(5.40 %)
Q4 2008	24.22 %	8.52 %	(25.13 %)
2008	24.22 %	8.52 %	(25.13 %)
Q1 2009	24.40 %	8.59 %	(19.44 %)
Q2 2009	25.85 %	9.44 %	(19.58 %)
Q3 2009	27.25 %	10.23 %	(9.81 %)
Q4 2009	27.82 %	10.12 %	4.66 %
2009	27.82 %	10.12 %	4.66 %
Q1 2010	28.51 %	10.72 %	4.95 %
Q2 2010	28.86 %	10.93 %	5.04 %
Q3 2010	29.21 %	11.01 %	4.88 %
Q4 2010	29.29 %	11.52 %	4.40 %
2010	29.29 %	11.52 %	4.40 %
Q1 2011	29.46 %	11.31 %	4.65 %
Q2 2011	28.97 %	10.77 %	4.83 %
Q3 2011	28.06 %	10.32 %	4.96 %
Q4 2011	28.45 %	9.83 %	4.93 %
2011	28.45 %	9.82 %	4.89 %
Q1 2012	28.61 %	9.75 %	5.09 %
Q2 2012	29.01 %	10.19 %	4.66 %
Q3 2012	29.71 %	10.87 %	4.80 %
Q4 2012	30.07 %	11.68 %	5.24 %
2012	30.14 %	11.55 %	5.23 %
Q1 2013	30.96 %	12.33 %	5.26 %
Q2 2013	31.04 %	12.37 %	5.47 %
Q3 2013	30.71 %	11.85 %	5.58 %
Q4 2013	29.91 %	11.74 %	5.77 %
2013	29.91 %	11.74 %	5.77 %
Q1 2014	29.53 %	11.22 %	6.55 %
Q2 2014	29.38 %	10.99 %	7.91 %
Q3 2014	29.51 %	11.11 %	7.93 %
Q4 2014	30.33 %	11.16 %	8.66 %
2014	30.33 %	11.12 %	8.60 %
Q1 2015	30.39 %	11.42 %	8.87 %
Q2 2015	30.70 %	11.52 %	8.82 %
Q3 2015	31.58 %	11.78 %	8.30 %
Q4 2015	32.63 %	12.07 %	7.72 %
2015	31.55 %	11.88 %	7.17 %
Q1 2016	33.13 %	12.07 %	4.56 %
Q2 2016	33.42 %	11.43 %	2.62 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2006	26.52 %	8.90 %	20.37 %
2007	25.04 %	8.27 %	24.49 %
2008	24.22 %	8.52 %	(25.13 %)
2009	27.82 %	10.12 %	4.66 %
2010	29.29 %	11.52 %	4.40 %
2011	28.45 %	9.82 %	4.89 %
2012	30.14 %	11.55 %	5.23 %
2013	29.91 %	11.74 %	5.77 %
2014	30.33 %	11.12 %	8.60 %
2015	31.55 %	11.88 %	7.17 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2007	25.52 %	7.82 %	23.07 %
Q2 2007	26.38 %	10.90 %	15.43 %
Q3 2007	25.67 %	8.72 %	27.11 %
Q4 2007	22.83 %	5.87 %	31.73 %
Q1 2008	24.11 %	8.62 %	(19.42 %)
Q2 2008	23.65 %	8.72 %	3.61 %
Q3 2008	22.76 %	8.03 %	(37.02 %)
Q4 2008	26.41 %	8.70 %	(50.17 %)
Q1 2009	24.83 %	8.89 %	2.93 %
Q2 2009	29.37 %	12.10 %	4.83 %
Q3 2009	28.55 %	11.34 %	3.94 %
Q4 2009	28.62 %	8.37 %	6.79 %
Q1 2010	27.62 %	11.16 %	4.15 %
Q2 2010	30.55 %	12.74 %	5.20 %
Q3 2010	30.10 %	11.60 %	3.41 %
Q4 2010	28.99 %	10.60 %	4.74 %
Q1 2011	28.23 %	10.32 %	5.13 %
Q2 2011	28.66 %	10.67 %	5.84 %
Q3 2011	26.32 %	9.68 %	4.09 %
Q4 2011	30.54 %	8.64 %	4.61 %
Q1 2012	28.87 %	9.98 %	5.75 %
Q2 2012	30.19 %	12.35 %	4.16 %
Q3 2012	29.28 %	12.37 %	4.68 %
Q4 2012	31.95 %	11.98 %	6.38 %
Q1 2013	32.35 %	12.61 %	5.79 %
Q2 2013	30.55 %	12.50 %	5.04 %
Q3 2013	28.03 %	10.29 %	5.14 %
Q4 2013	28.66 %	11.51 %	7.10 %
Q1 2014	30.77 %	10.57 %	8.77 %
Q2 2014	29.93 %	11.54 %	10.30 %
Q3 2014	28.63 %	10.84 %	5.42 %
Q4 2014	32.03 %	11.69 %	10.13 %
Q1 2015	31.00 %	11.63 %	9.61 %
Q2 2015	31.17 %	11.93 %	10.19 %
Q3 2015	32.15 %	11.89 %	2.93 %
Q4 2015	37.33 %	13.09 %	7.93 %
Q1 2016	32.78 %	11.59 %	(2.37 %)
Q2 2016	32.07 %	9.28 %	3.10 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2007	126.39	2.28	2.28	13.33
Q2 2007	126.39	2.14	2.14	22.55
Q3 2007	126.39	2.26	2.26	23.60
Q4 2007	126.39	2.87	2.87	26.55
Q1 2008	126.39	1.61	1.61	24.55
Q2 2008	126.39	1.29	1.29	24.82
Q3 2008	126.39	(0.73)	(0.73)	21.53
Q4 2008	126.39	(3.43)	(3.43)	18.30
Q1 2009	126.39	(2.72)	(2.72)	18.28
Q2 2009	126.39	(2.69)	(2.69)	19.01
Q3 2009	126.39	(1.31)	(1.31)	19.21
Q4 2009	126.39	0.63	0.63	19.11
Q1 2010	126.39	0.69	0.69	19.40
Q2 2010	126.39	0.73	0.73	18.19
Q3 2010	126.39	0.73	0.73	18.16
Q4 2010	126.39	0.67	0.67	18.12
Q1 2011	126.39	0.71	0.71	18.21
Q2 2011	126.39	0.74	0.74	18.03
Q3 2011	126.39	0.79	0.79	17.55
Q4 2011	126.39	0.78	0.78	17.93
Q1 2012	126.39	0.82	0.82	20.62
Q2 2012	126.39	0.76	0.76	18.39
Q3 2012	126.39	0.80	0.80	18.82
Q4 2012	126.39	0.88	0.88	19.08
Q1 2013	126.39	0.91	0.91	19.55
Q2 2013	126.39	0.96	0.96	18.92
Q3 2013	126.39	0.99	0.99	19.61
Q4 2013	126.39	1.04	1.04	20.37
Q1 2014	126.39	1.20	1.20	22.05
Q2 2014	126.39	1.48	1.48	21.10
Q3 2014	126.39	1.51	1.51	22.42
Q4 2014	126.39	1.47	1.67	20.64
Q1 2015	126.39	1.53	1.71	21.25
Q2 2015	126.39	1.54	1.66	21.29
Q3 2015	126.39	1.46	1.53	19.86
Q4 2015	126.39	1.27	1.33	19.95
Q1 2016	126.39	0.39	0.77	19.98
Q2 2016	126.39	0.00	0.43	19.20

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2006	126.39	2.22	2.22	13.44
2007	126.39	2.87	2.87	26.55
2008	126.39	(3.43)	(3.43)	18.30
2009	126.39	0.63	0.63	19.11
2010	126.39	0.67	0.67	18.12
2011	126.39	0.77	0.77	17.93
2012	126.39	0.88	0.88	19.08
2013	126.39	1.04	1.04	20.37
2014	126.39	1.46	1.66	20.64
2015	126.39	1.27	1.33	19.95

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2007	17.35	17.35	2.97
Q2 2007	14.15	14.15	1.34
Q3 2007	14.40	14.40	1.38
Q4 2007	14.71	14.71	1.59
Q1 2008	21.96	21.96	1.44
Q2 2008	24.57	24.57	1.28
Q3 2008	NEG	NEG	0.83
Q4 2008	NEG	NEG	0.54
Q1 2009	NEG	NEG	0.63
Q2 2009	NEG	NEG	0.78
Q3 2009	NEG	NEG	0.84
Q4 2009	24.08	24.08	0.80
Q1 2010	22.88	22.88	0.81
Q2 2010	17.92	17.92	0.71
Q3 2010	18.13	18.13	0.72
Q4 2010	20.18	20.18	0.75
Q1 2011	18.71	18.71	0.72
Q2 2011	18.06	18.06	0.75
Q3 2011	15.34	15.34	0.69
Q4 2011	19.96	19.96	0.87
Q1 2012	27.14	27.14	1.08
Q2 2012	20.41	20.41	0.84
Q3 2012	20.81	20.81	0.88
Q4 2012	18.83	18.83	0.87
Q1 2013	19.16	19.16	0.89
Q2 2013	18.47	18.47	0.94
Q3 2013	19.27	19.27	0.97
Q4 2013	22.27	22.27	1.14
Q1 2014	21.30	21.30	1.16
Q2 2014	20.60	20.60	1.44
Q3 2014	23.36	23.36	1.57
Q4 2014	16.05	14.15	1.15
Q1 2015	17.61	15.85	1.27
Q2 2015	18.39	17.00	1.33
Q3 2015	14.83	14.10	1.09
Q4 2015	18.49	17.68	1.18
Q1 2016	54.48	27.53	1.06
Q2 2016	NEG	43.35	0.96

Period	P/E	Adjusted P/E	Price/book
2006	18.95	18.95	3.13
2007	14.71	14.71	1.59
2008	NEG	NEG	0.54
2009	24.08	24.08	0.80
2010	20.18	20.18	0.75
2011	20.13	20.13	0.87
2012	18.85	18.85	0.87
2013	22.27	22.27	1.14
2014	16.18	14.25	1.15
2015	18.49	17.68	1.18

Business Segments (Million)

Compared With The

Period	The industrial sector	Investments
Q1 2016	555.73	(34.49)
Q2 2016	502.82	(7.49)

Period	The industrial sector	Investments
2015	2,339.48	78.77

Financial Ratios

	Current
Market Cap (M Riyal)	1,577.33
Enterprise Value (EV) (M)	2,380.87
Shares Outstanding ((M))	126.39
EPS ( Riyal) (TTM)	(0.99)
Book Value (BV) ( Riyal)	8.27
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	Neg
P/E (TTM)	NEG
Price/book	1.51
Return on Average Assets (%) (TTM)	(4.82 )
Return on Average Equity (%) (TTM)	(11.18 )

Sinad Holding Co. (SINAD HOLDING)

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Aseer turns to SAR 35.7 mln loss in H1

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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

Business Segments (Million)

Revenue by Business Segment (Latest) 2016 Q2

Financial Ratios

Share Price

Sinad Holding Co. (SINAD HOLDING)

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Aseer turns to SAR 35.7 mln loss in H1

View other reports

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

Business Segments (Million) Q2 2016

Revenue by Business Segment (Latest) 2016 Q2

Financial Ratios

Share Price

Sinad Holding Co. (SINAD HOLDING)

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Business Segments (Million)