Makkah Construction net profit up 1% in 9M 2016

21/11/2016 Argaam Exclusive

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Share Price

Makkah Construction and Development Co. (MCDC)

Makkah Construction and Development Co.’s net income rose 0.83 percent year-on-year to SAR 244 million in the first nine months of 2016.

The company attributed the slight increase to higher numbers of guests in its Hilton Towers hotel in Makkah.

Financials (M)

Item	9m 2015	9m 2016	Change‬
Revenues	304.96	469.86	54.1 %
Gross Income	260.62	271.64	4.2 %
Operating Income	251.73	259.07	2.9 %
Net Income	241.80	244.11	1.0 %
Average Shares	164.82	164.82	-
EPS (Riyals)	1.47	1.48	1.0 %

Third quarter’s profit declined 11 percent to SAR 74 million, compared to the same quarter last year because of a drop in the number of hotel guest during the pilgrimage season.

When compared to the previous quarter, net income declined 35 percent from SAR 114 million.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2015	Q3 2016	Change‬
Revenues	103.94	152.45	46.7 %
Gross Income	88.35	83.46	(5.5 %)
Operating Income	86.16	80.66	(6.4 %)
Net Income	82.69	74.18	(10.3 %)
Average Shares	164.82	164.82	-
EPS (Riyals)	0.50	0.45	(10.3 %)

Item	Q2 2016	Q3 2016	Change‬
Revenues	199.92	152.45	(23.7 %)
Gross Income	126.14	83.46	(33.8 %)
Operating Income	120.10	80.66	(32.8 %)
Net Income	113.75	74.18	(34.8 %)
Average Shares	164.82	164.82	-
EPS (Riyals)	0.69	0.45	(34.8 %)

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
Q1 2007	35.02	(23.9 %)	23.95	(11.7 %)	20.54	(14.9 %)	0.12
Q2 2007	111.27	4.3 %	99.69	16.4 %	95.98	20.6 %	0.58
Q3 2007	62.16	(22.5 %)	51.10	(17.5 %)	46.91	1.1 %	0.28
Q4 2007	63.43	53.9 %	50.10	433.7 %	13.57	(40.3 %)	0.08
2007	271.89	11.7 %	224.83	23.1 %	177.00	7.0 %	1.07
Q1 2008	62.75	79.2 %	51.40	114.6 %	46.88	128.3 %	0.28
Q2 2008	102.40	(8.0 %)	90.31	(9.4 %)	83.31	(13.2 %)	0.51
Q3 2008	61.87	(0.5 %)	50.57	(1.0 %)	49.20	4.9 %	0.30
Q4 2008	63.96	0.8 %	51.11	2.0 %	42.78	215.3 %	0.26
2008	290.97	7.0 %	243.39	8.3 %	222.17	25.5 %	1.35
Q1 2009	61.73	(1.6 %)	49.66	(3.4 %)	46.33	(1.2 %)	0.28
Q2 2009	83.45	(18.5 %)	71.03	(21.4 %)	66.29	(20.4 %)	0.40
Q3 2009	65.52	5.9 %	54.36	7.5 %	49.54	0.7 %	0.30
Q4 2009	67.94	6.2 %	57.29	12.1 %	52.46	22.6 %	0.32
2009	278.64	(4.2 %)	232.34	(4.5 %)	213.29	(4.0 %)	1.29
Q1 2010	58.34	(5.5 %)	47.75	(3.8 %)	42.51	(8.3 %)	0.26
Q2 2010	133.53	60.0 %	120.46	69.6 %	118.91	79.4 %	0.72
Q3 2010	82.18	25.4 %	69.50	27.8 %	62.81	26.8 %	0.38
Q4 2010	71.89	5.8 %	62.15	8.5 %	59.65	13.7 %	0.36
2010	345.93	24.2 %	299.86	29.1 %	283.88	33.1 %	1.72
Q1 2011	68.12	16.8 %	57.03	19.4 %	48.10	13.2 %	0.29
Q2 2011	146.17	9.5 %	133.66	11.0 %	128.41	8.0 %	0.78
Q3 2011	90.15	9.7 %	79.11	13.8 %	70.69	12.5 %	0.43
Q4 2011	85.01	18.3 %	72.98	17.4 %	75.35	26.3 %	0.46
2011	389.45	12.6 %	342.78	14.3 %	322.55	13.6 %	1.96
Q1 2012	79.41	16.6 %	69.12	21.2 %	62.33	29.6 %	0.38
Q2 2012	154.36	5.6 %	141.41	5.8 %	127.16	(1.0 %)	0.77
Q3 2012	124.77	38.4 %	111.22	40.6 %	103.28	46.1 %	0.63
Q4 2012	96.94	14.0 %	85.19	16.7 %	86.29	14.5 %	0.52
2012	455.47	17.0 %	406.94	18.7 %	379.06	17.5 %	2.30
Q1 2013	83.43	5.1 %	71.14	2.9 %	63.97	2.6 %	0.39
Q2 2013	132.56	(14.1 %)	118.07	(16.5 %)	110.72	(12.9 %)	0.67
Q3 2013	102.59	(17.8 %)	88.54	(20.4 %)	77.54	(24.9 %)	0.47
Q4 2013	96.12	(0.8 %)	79.45	(6.7 %)	71.84	(16.7 %)	0.44
2013	414.70	(9.0 %)	357.19	(12.2 %)	324.07	(14.5 %)	1.97
Q1 2014	78.58	(5.8 %)	64.84	(8.9 %)	58.99	(7.8 %)	0.36
Q2 2014	122.97	(7.2 %)	106.51	(9.8 %)	97.01	(12.4 %)	0.59
Q3 2014	105.54	2.9 %	90.17	1.8 %	84.70	9.2 %	0.51
Q4 2014	107.98	12.3 %	94.00	18.3 %	86.39	20.3 %	0.52
2014	414.89	0.0 %	355.32	(0.5 %)	326.91	0.9 %	1.98
Q1 2015	71.56	(8.9 %)	57.36	(11.5 %)	52.54	(10.9 %)	0.32
Q2 2015	129.46	5.3 %	114.91	7.9 %	106.56	9.8 %	0.65
Q3 2015	103.94	(1.5 %)	88.35	(2.0 %)	82.69	(2.4 %)	0.50
Q4 2015	93.71	(13.2 %)	80.75	(14.1 %)	68.85	(20.3 %)	0.42
2015	398.67	(3.9 %)	341.37	(3.9 %)	310.65	(5.0 %)	1.88
Q1 2016	117.49	64.2 %	62.04	8.2 %	56.19	6.9 %	0.34
Q2 2016	199.92	54.4 %	126.14	9.8 %	113.75	6.7 %	0.69
Q3 2016	152.45	46.7 %	83.46	(5.5 %)	74.18	(10.3 %)	0.45

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
2006	243.45	13.0 %	182.69	8.9 %	165.42	(7.1 %)	1.00
2007	271.89	11.7 %	224.83	23.1 %	177.00	7.0 %	1.07
2008	290.97	7.0 %	243.39	8.3 %	222.17	25.5 %	1.35
2009	278.64	(4.2 %)	232.34	(4.5 %)	213.29	(4.0 %)	1.29
2010	345.93	24.2 %	299.86	29.1 %	283.88	33.1 %	1.72
2011	389.45	12.6 %	342.78	14.3 %	322.55	13.6 %	1.96
2012	455.47	17.0 %	406.94	18.7 %	379.06	17.5 %	2.30
2013	414.70	(9.0 %)	357.19	(12.2 %)	324.07	(14.5 %)	1.97
2014	414.89	0.0 %	355.32	(0.5 %)	326.91	0.9 %	1.98
2015	398.67	(3.9 %)	341.37	(3.9 %)	310.65	(5.0 %)	1.88

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2007	68.72 %	78.67 %	64.32 %
Q2 2007	72.81 %	83.13 %	69.35 %
Q3 2007	73.74 %	86.17 %	74.57 %
Q4 2007	82.69 %	87.15 %	65.10 %
2007	82.69 %	87.15 %	65.10 %
Q1 2008	84.20 %	88.49 %	67.87 %
Q2 2008	83.55 %	87.76 %	65.58 %
Q3 2008	83.45 %	88.57 %	66.43 %
Q4 2008	83.65 %	89.60 %	76.35 %
2008	83.65 %	89.60 %	76.35 %
Q1 2009	83.34 %	89.38 %	76.43 %
Q2 2009	82.05 %	88.82 %	75.50 %
Q3 2009	82.34 %	88.54 %	74.62 %
Q4 2009	83.38 %	89.10 %	77.03 %
2009	83.38 %	89.10 %	76.55 %
Q1 2010	83.72 %	89.12 %	76.59 %
Q2 2010	86.03 %	90.79 %	80.98 %
Q3 2010	86.26 %	90.58 %	80.91 %
Q4 2010	86.68 %	90.61 %	80.65 %
2010	86.68 %	90.61 %	80.64 %
Q1 2011	86.91 %	89.98 %	80.00 %
Q2 2011	87.51 %	90.18 %	79.83 %
Q3 2011	88.21 %	90.81 %	80.23 %
Q4 2011	88.01 %	90.84 %	82.82 %
2011	88.01 %	90.84 %	82.82 %
Q1 2012	88.55 %	91.98 %	84.04 %
Q2 2012	88.67 %	91.04 %	82.05 %
Q3 2012	88.99 %	91.37 %	83.00 %
Q4 2012	89.34 %	91.20 %	83.22 %
2012	89.34 %	91.20 %	83.22 %
Q1 2013	89.00 %	90.34 %	82.85 %
Q2 2013	88.10 %	90.24 %	83.22 %
Q3 2013	87.34 %	89.23 %	81.47 %
Q4 2013	86.13 %	89.42 %	78.15 %
2013	86.13 %	89.42 %	78.15 %
Q1 2014	85.62 %	89.86 %	77.85 %
Q2 2014	84.78 %	89.40 %	76.29 %
Q3 2014	84.56 %	89.94 %	77.51 %
Q4 2014	85.65 %	90.13 %	78.80 %
2014	85.64 %	90.13 %	78.79 %
Q1 2015	85.29 %	89.74 %	78.58 %
Q2 2015	85.98 %	90.35 %	79.65 %
Q3 2015	85.88 %	90.11 %	79.48 %
Q4 2015	85.63 %	88.72 %	77.92 %
2015	85.63 %	88.72 %	77.92 %
Q1 2016	77.84 %	79.89 %	70.69 %
Q2 2016	69.37 %	70.49 %	62.42 %
Q3 2016	62.53 %	63.90 %	55.53 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2006	75.04 %	87.43 %	67.03 %
2007	82.69 %	87.15 %	65.10 %
2008	83.65 %	89.60 %	76.35 %
2009	83.38 %	89.10 %	76.55 %
2010	86.68 %	90.61 %	80.64 %
2011	88.01 %	90.84 %	82.82 %
2012	89.34 %	91.20 %	83.22 %
2013	86.13 %	89.42 %	78.15 %
2014	85.64 %	90.13 %	78.79 %
2015	85.63 %	88.72 %	77.92 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2007	68.37 %	80.23 %	58.63 %
Q2 2007	89.59 %	92.29 %	86.26 %
Q3 2007	82.20 %	86.50 %	75.47 %
Q4 2007	78.98 %	82.57 %	21.39 %
Q1 2008	81.91 %	89.71 %	74.71 %
Q2 2008	88.20 %	90.55 %	81.35 %
Q3 2008	81.74 %	90.27 %	79.52 %
Q4 2008	79.92 %	87.32 %	66.89 %
Q1 2009	80.45 %	88.70 %	75.06 %
Q2 2009	85.11 %	88.97 %	79.44 %
Q3 2009	82.97 %	89.04 %	75.61 %
Q4 2009	84.33 %	89.67 %	77.23 %
Q1 2010	81.86 %	88.77 %	72.87 %
Q2 2010	90.21 %	93.09 %	89.06 %
Q3 2010	84.56 %	88.53 %	76.43 %
Q4 2010	86.46 %	89.85 %	76.15 %
Q1 2011	83.72 %	85.74 %	70.61 %
Q2 2011	91.44 %	93.33 %	87.85 %
Q3 2011	87.75 %	91.31 %	78.41 %
Q4 2011	85.84 %	90.14 %	88.64 %
Q1 2012	87.04 %	92.21 %	78.49 %
Q2 2012	91.61 %	90.78 %	82.38 %
Q3 2012	89.15 %	92.42 %	82.78 %
Q4 2012	87.88 %	89.46 %	89.01 %
Q1 2013	85.26 %	87.45 %	76.68 %
Q2 2013	89.07 %	90.51 %	83.52 %
Q3 2013	86.31 %	88.82 %	75.58 %
Q4 2013	82.66 %	90.28 %	74.74 %
Q1 2014	82.51 %	89.64 %	75.07 %
Q2 2014	86.61 %	89.04 %	78.88 %
Q3 2014	85.43 %	90.89 %	80.25 %
Q4 2014	87.05 %	90.99 %	80.01 %
Q1 2015	80.16 %	87.34 %	73.43 %
Q2 2015	88.76 %	91.05 %	82.31 %
Q3 2015	84.99 %	89.92 %	79.55 %
Q4 2015	86.18 %	85.24 %	73.47 %
Q1 2016	52.81 %	54.45 %	47.83 %
Q2 2016	63.09 %	62.90 %	56.90 %
Q3 2016	54.75 %	59.38 %	48.66 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2007	164.82	1.03	1.03	18.85
Q2 2007	164.82	1.13	1.13	19.55
Q3 2007	164.82	1.13	1.13	18.94
Q4 2007	164.82	1.07	1.07	25.69
Q1 2008	164.82	1.23	1.23	25.04
Q2 2008	164.82	1.16	1.16	22.86
Q3 2008	164.82	1.17	1.17	24.34
Q4 2008	164.82	1.35	1.35	22.50
Q1 2009	164.82	1.34	1.34	22.86
Q2 2009	164.82	1.24	1.24	23.84
Q3 2009	164.82	1.24	1.24	23.55
Q4 2009	164.82	1.30	1.30	22.75
Q1 2010	164.82	1.28	1.28	22.32
Q2 2010	164.82	1.60	1.60	22.67
Q3 2010	164.82	1.68	1.68	22.91
Q4 2010	164.82	1.72	1.69	20.89
Q1 2011	164.82	1.76	1.73	20.26
Q2 2011	164.82	1.81	1.78	20.65
Q3 2011	164.82	1.86	1.83	21.37
Q4 2011	164.82	1.96	1.96	22.74
Q1 2012	164.82	2.04	2.04	22.87
Q2 2012	164.82	2.04	2.04	25.03
Q3 2012	164.82	2.23	2.23	25.14
Q4 2012	164.82	2.30	2.30	28.01
Q1 2013	164.82	2.31	2.31	31.55
Q2 2013	164.82	2.21	2.21	29.66
Q3 2013	164.82	2.05	2.05	30.47
Q4 2013	164.82	1.97	1.97	36.13
Q1 2014	164.82	1.94	1.94	44.54
Q2 2014	164.82	1.85	1.85	42.94
Q3 2014	164.82	1.90	1.90	43.19
Q4 2014	164.82	1.98	1.98	53.81
Q1 2015	164.82	1.95	1.95	58.21
Q2 2015	164.82	2.00	2.00	53.87
Q3 2015	164.82	1.99	1.99	45.37
Q4 2015	164.82	1.88	1.88	39.55
Q1 2016	164.82	1.91	1.91	49.59
Q2 2016	164.82	1.95	1.95	48.48
Q3 2016	164.82	1.90	1.90	47.44

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2006	164.82	1.00	0.99	18.84
2007	164.82	1.07	1.07	25.69
2008	164.82	1.35	1.35	22.50
2009	164.82	1.29	1.29	22.75
2010	164.82	1.72	1.69	20.89
2011	164.82	1.96	1.96	22.74
2012	164.82	2.30	2.30	28.01
2013	164.82	1.97	1.97	36.13
2014	164.82	1.98	1.98	53.81
2015	164.82	1.88	1.88	39.55

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2007	33.59	33.59	1.83
Q2 2007	29.07	29.07	1.68
Q3 2007	33.20	33.20	1.98
Q4 2007	41.44	41.44	1.73
Q1 2008	28.57	28.57	1.41
Q2 2008	34.36	34.36	1.74
Q3 2008	30.32	30.32	1.46
Q4 2008	17.36	17.36	1.04
Q1 2009	19.26	19.26	1.13
Q2 2009	22.72	22.72	1.18
Q3 2009	24.21	24.21	1.28
Q4 2009	20.66	20.66	1.18
Q1 2010	23.22	23.22	1.33
Q2 2010	18.21	18.21	1.28
Q3 2010	17.75	17.75	1.30
Q4 2010	17.48	17.78	1.44
Q1 2011	17.19	17.49	1.49
Q2 2011	17.48	17.77	1.53
Q3 2011	16.81	17.09	1.46
Q4 2011	17.88	17.88	1.54
Q1 2012	18.94	18.94	1.69
Q2 2012	19.35	19.35	1.57
Q3 2012	17.91	17.91	1.59
Q4 2012	17.65	17.65	1.45
Q1 2013	18.18	18.18	1.33
Q2 2013	31.90	31.90	2.38
Q3 2013	32.38	32.38	2.18
Q4 2013	32.80	32.80	1.79
Q1 2014	44.29	44.29	1.93
Q2 2014	42.66	42.66	1.84
Q3 2014	44.52	44.52	1.95
Q4 2014	39.64	39.64	1.46
Q1 2015	52.43	52.43	1.75
Q2 2015	45.24	45.24	1.68
Q3 2015	37.47	37.47	1.64
Q4 2015	49.34	49.34	2.35
Q1 2016	43.78	43.78	1.68
Q2 2016	45.79	45.79	1.84
Q3 2016	46.87	46.87	1.88

Period	P/E	Adjusted P/E	Price/book
2006	39.60	40.15	2.11
2007	41.44	41.44	1.73
2008	17.36	17.36	1.04
2009	20.79	20.79	1.18
2010	17.48	17.78	1.44
2011	17.88	17.88	1.54
2012	17.65	17.65	1.45
2013	32.80	32.80	1.79
2014	39.66	39.66	1.46
2015	49.34	49.34	2.35

Business Segments (Million)

Compared With The

Period	Hilton hotel and Towers	Commercial center	Others..	Makkah Hilton hotel	Makkah Hilton Towers
Q3 2012	-	27.71	1.39	43.23	52.26
Q4 2012	-	53.45	-	8.28	6.67
Q1 2013	-	34.75	0.71	20.22	27.76
Q2 2013	-	36.18	0.71	40.69	54.99
Q3 2013	-	37.66	0.97	28.53	35.43
Q4 2013	-	35.73	0.03	26.78	33.59
Q1 2014	-	36.14	0.74	17.25	24.45
Q2 2014	-	37.70	0.74	34.83	49.53
Q3 2014	-	35.69	1.14	29.26	39.46
Q4 2014	-	38.49	0.34	32.25	36.90
Q1 2015	-	36.28	0.44	14.29	20.54
Q2 2015	-	36.50	0.94	42.35	49.67
Q3 2015	-	35.96	1.26	28.04	38.69
Q4 2015	-	37.50	0.27	24.86	31.08
Q1 2016	80.49	36.47	0.53	-	-
Q2 2016	162.24	36.85	0.83	-	-
Q3 2016	114.37	36.61	1.47	-	-

Period	Hilton hotel and Towers	Commercial center	Others..	Makkah Hilton hotel	Makkah Hilton Towers
2012	-	133.34	2.76	156.35	163.03
2013	-	144.32	2.42	116.20	151.77
2014	-	148.02	2.96	113.59	150.32
2015	-	146.24	2.92	109.53	139.98

Financial Ratios

	Current
Market Cap (M Riyal)	16,168.47
Enterprise Value (EV) (M)	15,653.36
Shares Outstanding ((M))	164.82
EPS ( Riyal) (TTM)	2.32
Book Value (BV) ( Riyal)	28.32
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	44.51
P/E (TTM)	42.23
Price/book	3.46
Return on Average Assets (%) (TTM)	7.9
Return on Average Equity (%) (TTM)	9.1

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Makkah Construction net profit up 1% in 9M 2016

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Share Price

Makkah Construction and Development Co. (MCDC)

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 Q3

Financial Ratios

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Makkah Construction net profit up 1% in 9M 2016

View other reports

Share Price

Makkah Construction and Development Co. (MCDC)

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) Q3 2016

Revenue by Business Segment (Latest) 2016 Q3

Financial Ratios

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Business Segments (Million)