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SGS reports 27% decline in FY17 net profit
28/03/2018
Argaam Exclusive
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Saudi Ground Services Co. (SGS) reported a net profit of SAR 501.5 million for fiscal year 2017, down nearly 27 percent year-on-year (YoY), on account of lower revenue due to amending prices of some services, in addition to higher general and administrative expenses on increased provisions.
Gross profit fell 5.6 percent YoY to SAR 872.3 million, while operating profit tumbled 27.5 percent YoY to SAR 489.83 million in the same year.
Financials (M)
| Item | 2016 | 2017 | Change |
|---|---|---|---|
| Revenues | 2,726.67 | 2,585.53 | (5.2 %) |
| Gross Income | 924.24 | 874.44 | (5.4 %) |
| Operating Income | 675.42 | 492.02 | (27.2 %) |
| Net Income | 685.77 | 501.50 | (26.9 %) |
| Average Shares | 188.00 | 188.00 | - |
| Earnings Per Share before unusual items | 3.65 | 2.67 | (26.9 %) |
| EPS (Riyals) | 3.65 | 2.67 | (26.9 %) |
Current Quarter Comparison (M)
| Item | Q4 2016 | Q4 2017 | Change |
|---|---|---|---|
| Revenues | 607.19 | 585.23 | (3.6 %) |
| Gross Income | 163.66 | 177.46 | 8.4 % |
| Operating Income | 96.20 | 63.54 | (34.0 %) |
| Net Income | 104.10 | 64.05 | (38.5 %) |
| Average Shares | 188.00 | 188.00 | - |
| Earnings Per Share before unusual items | 0.55 | 0.34 | (38.5 %) |
| EPS (Riyals) | 0.55 | 0.34 | (38.5 %) |
View other reports
Share Price
Saudi Ground Services Co. (SGS)
| Current | |
| Market Cap (M Riyal) | 9,700.80 |
| Enterprise Value (EV) (M) | 8,990.57 |
| Shares Outstanding ((M)) | 188.00 |
| EPS ( Riyal) (TTM) | 1.74 |
| Book Value (BV) ( Riyal) | 13.37 |
| Par Value ( Riyal) | 10.00 |
| Adjusted P/E (Last12) | 29.66 |
| P/E (TTM) | 29.66 |
| Price/book | 3.86 |
| Return on Average Assets (%) (TTM) | 7.7 |
| Return on Average Equity (%) (TTM) | 9.7 |
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| Q1 2017 | 643.79 | (6.1 %) | 222.66 | (13.4 %) | 149.17 | (23.8 %) |
| Q2 2017 | 659.26 | (4.8 %) | 246.56 | (2.3 %) | 120.25 | (37.6 %) |
| Q3 2017 | 697.26 | (5.9 %) | 227.75 | (9.4 %) | 159.06 | (16.6 %) |
| Q4 2017 | 585.23 | (3.6 %) | 177.46 | 8.4 % | 63.54 | (34.0 %) |
| 2017 | 2,585.53 | (5.2 %) | 874.44 | (5.4 %) | 492.02 | (27.2 %) |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | Earnings Per Share before unusual items |
|---|---|---|---|---|---|---|
| Q1 2017 | 155.12 | (19.3 %) | 0.83 | - | 155.12 | 0.83 |
| Q2 2017 | 122.28 | (37.6 %) | 0.65 | - | 122.28 | 0.65 |
| Q3 2017 | 160.05 | (17.4 %) | 0.85 | - | 160.05 | 0.85 |
| Q4 2017 | 64.05 | (38.5 %) | 0.34 | - | 64.05 | 0.34 |
| 2017 | 501.50 | (26.9 %) | 2.67 | - | 501.50 | 2.67 |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| Q1 2017 | 33.15 % | 27.84 % | 24.16 % |
| Q2 2017 | 33.35 % | 25.45 % | 21.69 % |
| Q3 2017 | 33.01 % | 24.68 % | 20.77 % |
| Q4 2017 | 33.82 % | 23.73 % | 19.40 % |
| 2017 | 33.82 % | 23.73 % | 19.40 % |
Compared With The
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Earnings Per Share before unusual items (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| Q1 2017 | 188.00 | 3.45 | 3.45 | 15.36 |
| Q2 2017 | 188.00 | 3.06 | 3.06 | 15.36 |
| Q3 2017 | 188.00 | 2.88 | 2.88 | 15.56 |
| Q4 2017 | 188.00 | 2.67 | 2.67 | 15.28 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| Q1 2017 | 14.87 | 14.87 | 3.34 |
| Q2 2017 | 14.71 | 14.71 | 2.93 |
| Q3 2017 | 15.01 | 15.01 | 2.78 |
| Q4 2017 | 14.74 | 14.74 | 2.57 |
Analysts Estimates (Million)
| Item | Q4 2017 (e) | Q4 2017 (a) | Change |
|---|---|---|---|
| Average | 123.33 | 64.05 | (48.1 %) |
Estimates vs Actual (Million)
| Item | Q4 2017 (e) | Q4 2017 (a) | Change |
|---|---|---|---|
| Arbah Capital | 106.00 | 64.05 | (39.6) % |
| SNB Capital | 111.00 | 64.05 | (42.3) % |
| Sico | 127.00 | 64.05 | (49.6) % |
| OSOOL AND BAKHEET | 149.30 | 64.05 | (57.1) % |
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