SIEC posts lower net profit at SAR 2.2m in I2 of 2014

30/06/2014 Argaam Exclusive

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Share Price

Saudi Industrial Export Co. (SIECO)

Saudi Industrial Export Company, an exporter of Saudi Products, reported SAR 2.2m net profit at the end of the first half of 2014, a 54% decrease compared to the same period last year, as shown in the following table:

Financials (M)

Item	6m 2013	6m 2014	Change‬
Revenues	177.37	317.97	79.3 %
Gross Income	7.69	5.14	(33.2 %)
Operating Income	5.32	2.78	(47.7 %)
Net Income	4.85	2.23	(54.1 %)
Average Shares	13.44	13.44	-
EPS (Riyals)	0.36	0.17	(54.1 %)

Current Quarter Comparison (M)

Compared With The

Item	Q2 2013	Q2 2014	Change‬
Revenues	91.66	127.19	38.8 %
Gross Income	3.71	1.66	(55.1 %)
Operating Income	2.43	0.53	(78.0 %)
Net Income	2.19	0.52	(76.4 %)
Average Shares	13.44	13.44	-
EPS (Riyals)	0.16	0.04	(76.4 %)

Item	Q1 2014	Q2 2014	Change‬
Revenues	190.78	127.19	(33.3 %)
Gross Income	3.47	1.66	(52.1 %)
Operating Income	2.25	0.53	(76.3 %)
Net Income	1.71	0.52	(69.8 %)
Average Shares	13.44	13.44	-
EPS (Riyals)	0.13	0.04	(69.8 %)

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
Q1 2005	53.64	(13.3 %)	2.58	63.6 %	5.04	360.5 %	0.37
Q2 2005	51.56	(17.6 %)	2.35	155.4 %	16.13	1247.1 %	1.20
Q3 2005	78.43	46.1 %	4.07	195.7 %	9.00	190.1 %	0.67
Q4 2005	44.87	(48.5 %)	2.55	9.4 %	(125.02)	(19.6 %)	(9.30)
2005	228.50	(13.8 %)	11.55	86.2 %	(94.86)	4.3 %	(7.06)
Q1 2006	39.95	(25.5 %)	1.19	(53.8 %)	11.02	118.8 %	0.82
Q2 2006	67.97	31.8 %	1.69	(28.0 %)	0.25	(98.5 %)	0.02
Q3 2006	50.20	(36.0 %)	1.04	(74.4 %)	0.38	(95.8 %)	0.03
Q4 2006	61.49	37.0 %	2.60	2.0 %	(112.09)	10.3 %	(8.34)
2006	219.61	(3.9 %)	6.53	(43.5 %)	(100.45)	(5.9 %)	(7.48)
Q1 2007	46.13	15.5 %	1.29	8.3 %	1.05	(90.5 %)	0.08
Q2 2007	20.17	(70.3 %)	(0.74)	(143.8 %)	(0.92)	(469.8 %)	(0.07)
Q3 2007	70.32	40.1 %	5.03	383.2 %	3.86	921.4 %	0.29
Q4 2007	83.16	35.2 %	4.95	90.3 %	(102.42)	8.6 %	(7.62)
2007	219.78	0.1 %	10.53	61.4 %	(98.43)	2.0 %	(7.33)
Q1 2008	207.26	349.3 %	5.33	313.2 %	3.13	198.6 %	0.23
Q2 2008	365.01	1709.6 %	13.10	1868.3 %	10.37	1230.9 %	0.77
Q3 2008	103.51	47.2 %	9.96	98.1 %	7.60	96.8 %	0.57
Q4 2008	33.31	(59.9 %)	1.47	(70.4 %)	(103.72)	(1.3 %)	(7.72)
2008	709.09	222.6 %	29.86	183.6 %	(82.63)	16.1 %	(6.15)
Q1 2009	23.75	(88.5 %)	0.24	(95.5 %)	(1.43)	(145.6 %)	(0.11)
Q2 2009	26.79	(92.7 %)	1.77	(86.5 %)	(0.40)	(103.8 %)	(0.03)
Q3 2009	23.86	(76.9 %)	0.89	(91.1 %)	(1.50)	(119.7 %)	(0.11)
Q4 2009	26.96	(19.1 %)	(0.07)	(104.8 %)	(101.55)	2.1 %	(7.56)
2009	101.36	(85.7 %)	2.83	(90.5 %)	(104.87)	(26.9 %)	(7.80)
Q1 2010	44.77	88.5 %	3.22	1242.1 %	1.03	172.2 %	0.08
Q2 2010	44.28	65.2 %	(0.52)	(129.2 %)	(2.87)	(626.6 %)	(0.21)
Q3 2010	21.24	(11.0 %)	0.65	(27.0 %)	1.23	182.1 %	0.09
Q4 2010	76.40	183.4 %	5.47	7798.6 %	(98.82)	2.7 %	(7.35)
2010	186.69	84.2 %	8.82	212.2 %	(99.45)	5.2 %	(7.40)
Q1 2011	88.59	97.9 %	7.19	123.1 %	5.46	429.6 %	0.41
Q2 2011	110.67	149.9 %	3.56	787.8 %	2.02	170.5 %	0.15
Q3 2011	99.95	370.6 %	1.52	134.7 %	1.62	32.4 %	0.12
Q4 2011	101.13	32.4 %	1.26	(76.9 %)	(102.96)	(4.2 %)	(7.66)
2011	400.32	114.4 %	13.53	53.4 %	(93.85)	5.6 %	(6.98)
Q1 2012	71.59	(19.2 %)	1.50	(79.1 %)	0.44	(91.9 %)	0.03
Q2 2012	71.98	(35.0 %)	1.77	(50.2 %)	0.51	(74.9 %)	0.04
Q3 2012	88.62	(11.3 %)	1.32	(13.7 %)	1.26	(22.6 %)	0.09
Q4 2012	105.17	4.0 %	2.33	84.6 %	(100.37)	2.5 %	(7.47)
2012	337.35	(15.7 %)	6.92	(48.8 %)	(99.73)	(6.3 %)	(7.42)
Q1 2013	85.71	19.7 %	3.99	165.4 %	2.66	498.0 %	0.20
Q2 2013	91.66	27.3 %	3.71	109.2 %	2.19	331.9 %	0.16
Q3 2013	55.06	(37.9 %)	2.52	91.5 %	1.29	2.9 %	0.10
Q4 2013	90.72	(13.7 %)	2.55	9.4 %	(100.65)	(0.3 %)	(7.49)
2013	323.15	(4.2 %)	12.76	84.4 %	(94.32)	5.4 %	(7.02)
Q1 2014	190.78	122.6 %	3.47	(12.9 %)	1.71	(35.6 %)	0.13
Q2 2014	127.19	38.8 %	1.66	(55.1 %)	0.52	(76.4 %)	0.04

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
2004	265.21	(16.1 %)	6.20	5.4 %	(99.10)	(0.1 %)	(7.37)
2005	228.50	(13.8 %)	11.55	86.2 %	(94.86)	4.3 %	(7.06)
2006	219.61	(3.9 %)	6.53	(43.5 %)	(100.45)	(5.9 %)	(7.48)
2007	219.78	0.1 %	10.53	61.4 %	(98.43)	2.0 %	(7.33)
2008	709.09	222.6 %	29.86	183.6 %	(82.63)	16.1 %	(6.15)
2009	101.36	(85.7 %)	2.83	(90.5 %)	(104.87)	(26.9 %)	(7.80)
2010	186.69	84.2 %	8.82	212.2 %	(99.45)	5.2 %	(7.40)
2011	400.32	114.4 %	13.53	53.4 %	(93.85)	5.6 %	(6.98)
2012	337.35	(15.7 %)	6.92	(48.8 %)	(99.73)	(6.3 %)	(7.42)
2013	323.15	(4.2 %)	12.76	84.4 %	(94.32)	5.4 %	(7.02)

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2005	2.80 %	1.00 %	2.26 %
Q2 2005	3.51 %	1.52 %	8.43 %
Q3 2005	4.18 %	2.35 %	9.84 %
Q4 2005	5.05 %	2.85 %	2.67 %
2005	5.05 %	2.85 %	2.67 %
Q1 2006	4.73 %	2.42 %	5.63 %
Q2 2006	4.11 %	1.91 %	(1.64 %)
Q3 2006	3.19 %	0.60 %	(6.11 %)
Q4 2006	2.97 %	0.71 %	0.24 %
2006	2.97 %	0.71 %	0.23 %
Q1 2007	2.93 %	0.58 %	(4.19 %)
Q2 2007	2.36 %	(0.58 %)	(5.97 %)
Q3 2007	4.13 %	1.47 %	(3.60 %)
Q4 2007	4.79 %	2.04 %	1.15 %
2007	4.79 %	2.04 %	1.15 %
Q1 2008	3.83 %	2.12 %	1.21 %
Q2 2008	3.92 %	2.98 %	2.19 %
Q3 2008	4.39 %	3.45 %	2.59 %
Q4 2008	4.21 %	3.03 %	2.59 %
2008	4.21 %	3.03 %	2.59 %
Q1 2009	4.71 %	3.22 %	2.62 %
Q2 2009	7.17 %	3.08 %	1.61 %
Q3 2009	4.05 %	(2.74 %)	(5.64 %)
Q4 2009	2.79 %	(2.52 %)	(3.85 %)
2009	2.79 %	(2.52 %)	(3.85 %)
Q1 2010	4.75 %	0.07 %	(1.18 %)
Q2 2010	2.52 %	(1.83 %)	(2.80 %)
Q3 2010	2.39 %	(1.97 %)	(0.88 %)
Q4 2010	4.72 %	1.55 %	0.82 %
2010	4.72 %	1.54 %	0.81 %
Q1 2011	5.55 %	3.12 %	2.58 %
Q2 2011	5.68 %	4.03 %	3.65 %
Q3 2011	4.72 %	3.48 %	2.99 %
Q4 2011	3.38 %	2.19 %	1.78 %
2011	3.38 %	2.19 %	1.78 %
Q1 2012	2.05 %	0.89 %	0.55 %
Q2 2012	1.76 %	0.45 %	0.17 %
Q3 2012	1.76 %	0.38 %	0.06 %
Q4 2012	2.05 %	0.78 %	0.83 %
2012	2.05 %	0.78 %	0.36 %
Q1 2013	2.68 %	1.43 %	1.43 %
Q2 2013	3.05 %	1.85 %	1.80 %
Q3 2013	3.71 %	2.38 %	1.99 %
Q4 2013	3.95 %	2.37 %	2.00 %
2013	3.95 %	2.37 %	2.05 %
Q1 2014	2.86 %	1.63 %	1.29 %
Q2 2014	2.20 %	1.10 %	0.83 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2004	2.34 %	0.65 %	0.70 %
2005	5.05 %	2.85 %	2.67 %
2006	2.97 %	0.71 %	0.23 %
2007	4.79 %	2.04 %	1.15 %
2008	4.21 %	3.03 %	2.59 %
2009	2.79 %	(2.52 %)	(3.85 %)
2010	4.72 %	1.54 %	0.81 %
2011	3.38 %	2.19 %	1.78 %
2012	2.05 %	0.78 %	0.36 %
2013	3.95 %	2.37 %	2.05 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2005	4.81 %	2.69 %	9.39 %
Q2 2005	4.56 %	2.07 %	31.28 %
Q3 2005	5.19 %	3.95 %	11.47 %
Q4 2005	5.69 %	2.01 %	(53.61 %)
Q1 2006	2.98 %	0.34 %	27.59 %
Q2 2006	2.49 %	0.42 %	0.36 %
Q3 2006	2.07 %	(0.20 %)	0.75 %
Q4 2006	4.23 %	2.00 %	(18.10 %)
Q1 2007	2.80 %	(0.21 %)	2.27 %
Q2 2007	(3.67 %)	(10.25 %)	(4.55 %)
Q3 2007	7.15 %	5.46 %	5.49 %
Q4 2007	5.95 %	3.38 %	(1.75 %)
Q1 2008	2.57 %	1.68 %	1.51 %
Q2 2008	3.59 %	3.15 %	2.84 %
Q3 2008	9.63 %	8.10 %	7.34 %
Q4 2008	4.40 %	(5.60 %)	(8.29 %)
Q1 2009	1.01 %	(4.54 %)	(6.01 %)
Q2 2009	6.60 %	1.23 %	(1.47 %)
Q3 2009	3.73 %	(1.41 %)	(6.27 %)
Q4 2009	(0.26 %)	(5.45 %)	(2.18 %)
Q1 2010	7.19 %	3.48 %	2.30 %
Q2 2010	(1.17 %)	(5.21 %)	(6.48 %)
Q3 2010	3.06 %	(2.31 %)	5.78 %
Q4 2010	7.15 %	5.41 %	2.80 %
Q1 2011	8.11 %	6.60 %	6.16 %
Q2 2011	3.21 %	2.24 %	1.83 %
Q3 2011	1.52 %	0.63 %	1.62 %
Q4 2011	1.25 %	(0.18 %)	(1.97 %)
Q1 2012	2.10 %	0.69 %	0.62 %
Q2 2012	2.46 %	0.85 %	0.71 %
Q3 2012	1.48 %	0.39 %	1.42 %
Q4 2012	2.22 %	1.12 %	0.56 %
Q1 2013	4.65 %	3.39 %	3.10 %
Q2 2013	4.04 %	2.65 %	2.39 %
Q3 2013	4.57 %	2.75 %	2.35 %
Q4 2013	2.81 %	0.88 %	0.35 %
Q1 2014	1.82 %	1.18 %	0.90 %
Q2 2014	1.31 %	0.42 %	0.41 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2005	13.44	(7.08)	0.43	8.10
Q2 2005	13.44	(5.97)	1.54	8.35
Q3 2005	13.44	(5.53)	1.98	9.07
Q4 2005	13.44	(7.06)	0.45	9.71
Q1 2006	13.44	(6.61)	0.90	9.90
Q2 2006	13.44	(7.80)	(0.28)	9.59
Q3 2006	13.44	(8.44)	(0.92)	9.16
Q4 2006	13.44	(7.48)	0.04	8.76
Q1 2007	13.44	(8.22)	(0.70)	8.53
Q2 2007	13.44	(8.30)	(0.79)	7.71
Q3 2007	13.44	(8.04)	(0.53)	8.04
Q4 2007	13.44	(7.33)	0.19	8.97
Q1 2008	13.44	(7.17)	0.34	8.69
Q2 2008	13.44	(6.33)	1.18	9.37
Q3 2008	13.44	(6.05)	1.46	9.79
Q4 2008	13.44	(6.15)	1.36	8.85
Q1 2009	13.44	(6.49)	1.03	7.81
Q2 2009	13.44	(7.29)	0.22	7.86
Q3 2009	13.44	(7.97)	(0.45)	7.86
Q4 2009	13.44	(7.80)	(0.29)	7.63
Q1 2010	13.44	(7.62)	(0.11)	7.82
Q2 2010	13.44	(7.81)	(0.29)	7.58
Q3 2010	13.44	(7.60)	(0.09)	7.71
Q4 2010	13.44	(7.40)	0.11	7.97
Q1 2011	13.44	(7.07)	0.44	8.47
Q2 2011	13.44	(6.71)	0.81	8.58
Q3 2011	13.44	(6.68)	0.84	8.65
Q4 2011	13.44	(6.98)	0.53	8.64
Q1 2012	13.44	(7.36)	0.16	8.88
Q2 2012	13.44	(7.47)	0.04	8.31
Q3 2012	13.44	(7.50)	0.02	8.39
Q4 2012	13.44	(7.31)	0.21	8.53
Q1 2013	13.44	(7.14)	0.37	8.62
Q2 2013	13.44	(7.02)	0.50	8.96
Q3 2013	13.44	(7.01)	0.50	9.23
Q4 2013	13.44	(7.03)	0.48	9.00
Q1 2014	13.44	(7.10)	0.41	9.24
Q2 2014	13.44	(7.23)	0.29	9.64

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2004	13.44	(7.37)	0.14	7.12
2005	13.44	(7.06)	0.45	9.71
2006	13.44	(7.48)	0.04	8.76
2007	13.44	(7.33)	0.19	8.97
2008	13.44	(6.15)	1.36	8.85
2009	13.44	(7.80)	(0.29)	7.63
2010	13.44	(7.40)	0.11	7.97
2011	13.44	(6.98)	0.53	8.64
2012	13.44	(7.42)	0.09	8.53
2013	13.44	(7.02)	0.49	9.00

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2005	NEG	More than 50	3.36
Q2 2005	NEG	37.87	7.00
Q3 2005	NEG	More than 50	12.11
Q4 2005	NEG	More than 50	12.62
Q1 2006	NEG	More than 50	14.47
Q2 2006	NEG	NEG	15.92
Q3 2006	NEG	NEG	14.97
Q4 2006	NEG	More than 50	5.40
Q1 2007	NEG	NEG	5.95
Q2 2007	NEG	NEG	10.22
Q3 2007	NEG	NEG	9.84
Q4 2007	NEG	More than 50	8.68
Q1 2008	NEG	More than 50	4.99
Q2 2008	NEG	38.33	4.84
Q3 2008	NEG	21.64	3.23
Q4 2008	NEG	19.56	3.01
Q1 2009	NEG	29.59	3.89
Q2 2009	NEG	More than 50	5.64
Q3 2009	NEG	NEG	5.56
Q4 2009	NEG	NEG	5.53
Q1 2010	NEG	NEG	4.94
Q2 2010	NEG	NEG	4.10
Q3 2010	NEG	NEG	3.77
Q4 2010	NEG	More than 50	3.60
Q1 2011	NEG	More than 50	3.21
Q2 2011	NEG	40.32	3.79
Q3 2011	NEG	35.98	3.48
Q4 2011	NEG	More than 50	5.18
Q1 2012	NEG	More than 50	5.51
Q2 2012	NEG	More than 50	6.51
Q3 2012	NEG	More than 50	8.38
Q4 2012	NEG	More than 50	10.16
Q1 2013	NEG	More than 50	13.59
Q2 2013	NEG	More than 50	6.03
Q3 2013	NEG	More than 50	5.78
Q4 2013	NEG	More than 50	5.93
Q1 2014	NEG	More than 50	7.43
Q2 2014	NEG	More than 50	7.49

Period	P/E	Adjusted P/E	Price/book
2004	NEG	More than 50	3.51
2005	NEG	More than 50	12.62
2006	NEG	More than 50	5.40
2007	NEG	More than 50	8.68
2008	NEG	19.56	3.01
2009	NEG	NEG	5.53
2010	NEG	More than 50	3.60
2011	NEG	More than 50	5.18
2012	NEG	More than 50	10.16
2013	NEG	More than 50	5.93

Financial Ratios

	Current
Market Cap (M Riyal)	524.88
Enterprise Value (EV) (M)	385.17
Shares Outstanding ((M))	19.44
EPS ( Riyal) (TTM)	(0.69)
Book Value (BV) ( Riyal)	7.46
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	Neg
P/E (TTM)	NEG
Price/book	3.62
Return on Average Assets (%) (TTM)	(8.33 )
Return on Average Equity (%) (TTM)	(9.09 )

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SIEC posts lower net profit at SAR 2.2m in I2 of 2014

View other reports

Share Price

Saudi Industrial Export Co. (SIECO)

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

Financial Ratios

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SIEC posts lower net profit at SAR 2.2m in I2 of 2014

View other reports

Share Price

Saudi Industrial Export Co. (SIECO)

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

Financial Ratios

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