SASCO net profit rises 11% to SAR 30 mln in 9M 2020

22/10/2020 Argaam Exclusive

View other reports

Saudi Automotive Services Co. (SASCO) posted an 11% rise in net profit after Zakat and tax to SAR 30 million for the first nine months of 2020, compared to a net profit of SAR 27 million a year earlier.

The profit growth was spurred by improved profit margins from the fuel business during the current period. Moreover, a decrease in selling, marketing, general and administrative expenses also bolstered the nine-month period results despite the allocation of a credit loss provision for the COVID-19 pandemic impact.

Financials (M)

Item	9m 2019	9m 2020	Change‬
Revenues	1,801.09	1,525.27	(15.3 %)
Gross Income	64.65	116.00	79.4 %
Operating Income	31.32	84.75	170.6 %
Net Income	27.03	30.01	11.0 %
Average Shares	70.00	70.00	-
EPS (Riyals)	0.39	0.43	11.0 %

The third-quarter net profit after Zakat and tax jumped 34% year-on-year (YoY) to SAR 17.5 million, thanks to a rise in profit margins from the fuel business, along with a decline in selling, marketing and Zakat expenses.

When compared to the previous quarter, SASCO’s bottom line more than tripled from SAR 4.4 million, as sales surged 97.3%. In addition, Q2 2020 implied a credit loss provision for the COVID-19 pandemic impact.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2019	Q3 2020	Change‬
Revenues	647.27	586.83	(9.3 %)
Gross Income	22.08	39.68	79.7 %
Operating Income	12.90	28.34	119.7 %
Net Income	13.03	17.45	33.9 %
Average Shares	70.00	70.00	-
EPS (Riyals)	0.19	0.25	33.9 %

Item	Q2 2020	Q3 2020	Change‬
Revenues	297.37	586.83	97.3 %
Gross Income	46.00	39.68	(13.7 %)
Operating Income	39.28	28.34	(27.9 %)
Net Income	4.44	17.45	293.1 %
Average Shares	70.00	70.00	-
EPS (Riyals)	0.06	0.25	293.1 %

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
Q1 2011	49.26	8.4 %	4.70	(4.5 %)	0.59	(71.8 %)	0.01
Q2 2011	59.35	17.2 %	6.41	20.4 %	15.32	35.1 %	0.22
Q3 2011	68.38	3.1 %	6.97	(30.0 %)	6.59	(54.6 %)	0.09
Q4 2011	66.94	32.0 %	4.06	41.3 %	17.57	117.6 %	0.25
2011	243.93	14.5 %	22.13	(4.0 %)	40.07	11.3 %	0.57
Q1 2012	75.00	52.2 %	4.75	1.2 %	25.78	4269.3 %	0.37
Q2 2012	86.85	46.3 %	8.38	30.7 %	9.39	(38.7 %)	0.13
Q3 2012	91.96	34.5 %	7.61	9.2 %	2.39	(63.7 %)	0.03
Q4 2012	91.17	36.2 %	7.26	78.9 %	7.50	(57.3 %)	0.11
2012	344.98	41.4 %	28.00	26.5 %	45.06	12.5 %	0.64
Q1 2013	91.36	21.8 %	7.46	57.0 %	7.90	(69.4 %)	0.11
Q2 2013	98.88	13.8 %	11.42	36.3 %	10.27	9.4 %	0.15
Q3 2013	93.35	1.5 %	9.32	22.5 %	11.08	363.5 %	0.16
Q4 2013	85.32	(6.4 %)	5.88	(19.0 %)	10.56	40.8 %	0.15
2013	368.91	6.9 %	33.06	18.1 %	39.80	(11.7 %)	0.57
Q1 2014	97.98	7.2 %	9.20	23.3 %	7.79	(1.4 %)	0.11
Q2 2014	113.40	14.7 %	12.55	9.9 %	23.06	124.6 %	0.33
Q3 2014	123.57	32.4 %	9.42	1.1 %	3.60	(67.5 %)	0.05
Q4 2014	118.46	38.8 %	6.03	2.6 %	-	-	-
2014	453.37	22.9 %	37.27	12.7 %	82.05	106.2 %	1.17
Q1 2015	126.54	29.1 %	10.03	9.0 %	3.23	(58.5 %)	0.05
Q2 2015	159.53	40.7 %	13.45	7.2 %	3.71	(83.9 %)	0.05
Q3 2015	191.60	55.1 %	17.11	81.5 %	6.48	79.8 %	0.09
Q4 2015	187.37	58.2 %	11.12	84.4 %	-	-	-
2015	665.05	46.7 %	51.71	38.8 %	18.62	(77.3 %)	0.27
Q1 2016	270.95	114.1 %	12.63	25.9 %	1.63	(49.7 %)	0.02
Q2 2016	274.97	72.4 %	12.38	(8.0 %)	4.54	22.4 %	0.06
Q3 2016	272.49	42.2 %	17.71	3.5 %	6.67	3.0 %	0.10
Q4 2016	275.72	47.1 %	15.38	38.3 %	6.69	-	0.10
2016	1,094.12	64.5 %	58.10	12.4 %	25.98	39.6 %	0.37
Q1 2017	282.03	4.1 %	14.66	16.1 %	4.60	183.1 %	0.07
Q2 2017	309.38	12.5 %	21.11	70.4 %	6.37	40.1 %	0.09
Q3 2017	304.99	11.9 %	19.20	8.4 %	8.96	34.4 %	0.13
Q4 2017	315.93	14.6 %	24.52	59.5 %	4.91	(26.7 %)	0.07
2017	1,212.33	10.8 %	79.49	36.8 %	27.99	7.7 %	0.40
Q1 2018	459.95	63.1 %	18.77	28.0 %	8.65	87.8 %	0.12
Q2 2018	522.27	68.8 %	16.76	(20.6 %)	9.21	44.7 %	0.13
Q3 2018	524.60	72.0 %	18.72	(2.5 %)	7.39	(17.6 %)	0.11
Q4 2018	549.26	73.9 %	27.73	13.1 %	0.03	(99.4 %)	0.00
2018	2,056.08	69.6 %	81.98	3.1 %	35.45	26.7 %	0.51
Q1 2019	560.88	21.9 %	19.75	5.2 %	8.89	2.7 %	0.13
Q2 2019	592.95	13.5 %	22.82	36.2 %	5.12	(44.4 %)	0.07
Q3 2019	647.27	23.4 %	22.08	17.9 %	13.03	76.4 %	0.19
Q4 2019	681.75	24.1 %	93.94	238.8 %	20.95	72148.3 %	0.30
2019	2,482.84	20.8 %	158.60	93.5 %	120.65	240.3 %	1.72
Q1 2020	641.07	14.3 %	30.32	53.5 %	8.12	(8.6 %)	0.12
Q2 2020	297.37	(49.8 %)	46.00	101.6 %	4.44	(13.2 %)	0.06
Q3 2020	586.83	(9.3 %)	39.68	79.7 %	17.45	33.9 %	0.25

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
2010	213.11	11.8 %	23.06	38.0 %	36.01	14.3 %	0.51
2011	243.93	14.5 %	22.13	(4.0 %)	40.07	11.3 %	0.57
2012	344.98	41.4 %	28.00	26.5 %	45.06	12.5 %	0.64
2013	368.91	6.9 %	33.06	18.1 %	39.80	(11.7 %)	0.57
2014	453.37	22.9 %	37.27	12.7 %	82.05	106.2 %	1.17
2015	665.05	46.7 %	51.71	38.8 %	18.62	(77.3 %)	0.27
2016	1,094.12	64.5 %	58.10	12.4 %	25.98	39.6 %	0.37
2017	1,212.33	10.8 %	79.49	36.8 %	27.99	7.7 %	0.40
2018	2,056.08	69.6 %	81.98	3.1 %	35.45	26.7 %	0.51
2019	2,482.84	20.8 %	158.60	93.5 %	120.65	240.3 %	1.72

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2011	10.53 %	-	15.91 %
Q2 2011	10.60 %	-	17.06 %
Q3 2011	9.20 %	-	13.42 %
Q4 2011	9.07 %	-	16.43 %
2011	9.07 %	5.22 %	16.43 %
Q1 2012	8.23 %	-	24.20 %
Q2 2012	8.13 %	-	19.97 %
Q3 2012	7.73 %	-	17.19 %
Q4 2012	8.12 %	-	10.66 %
2012	8.12 %	10.47 %	10.66 %
Q1 2013	8.50 %	-	5.23 %
Q2 2013	9.04 %	-	5.30 %
Q3 2013	9.46 %	-	7.60 %
Q4 2013	9.24 %	-	8.43 %
2013	8.96 %	6.64 %	8.43 %
Q1 2014	9.54 %	-	8.25 %
Q2 2014	9.47 %	-	6.40 %
Q3 2014	8.82 %	-	4.16 %
Q4 2014	8.21 %	-	3.45 %
2014	8.22 %	6.01 %	4.56 %
Q1 2015	7.89 %	-	2.30 %
Q2 2015	7.37 %	-	2.68 %
Q3 2015	7.82 %	-	2.86 %
Q4 2015	7.77 %	-	2.56 %
2015	7.78 %	6.61 %	3.34 %
Q1 2016	6.71 %	-	1.91 %
Q2 2016	5.76 %	-	1.37 %
Q3 2016	5.35 %	-	1.28 %
Q4 2016	5.31 %	-	1.38 %
2016	5.31 %	5.10 %	1.97 %
Q1 2017	5.44 %	-	1.64 %
Q2 2017	6.04 %	-	1.75 %
Q3 2017	6.00 %	-	1.90 %
Q4 2017	6.56 %	-	2.05 %
2017	6.56 %	6.37 %	2.31 %
Q1 2018	6.01 %	-	2.08 %
Q2 2018	4.94 %	-	1.98 %
Q3 2018	4.32 %	-	1.65 %
Q4 2018	3.99 %	-	1.23 %
2018	3.99 %	4.09 %	1.72 %
Q1 2019	3.85 %	-	0.80 %
Q2 2019	4.00 %	-	0.59 %
Q3 2019	3.93 %	-	0.80 %
Q4 2019	6.39 %	-	0.63 %
2019	6.39 %	8.81 %	3.55 %
Q1 2020	6.60 %	-	0.90 %
Q2 2020	8.48 %	-	2.11 %
Q3 2020	9.51 %	-	2.35 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2010	10.82 %	9.95 %	16.90 %
2011	9.07 %	5.22 %	16.43 %
2012	8.12 %	10.47 %	10.66 %
2013	8.96 %	6.64 %	8.43 %
2014	8.22 %	6.01 %	4.56 %
2015	7.78 %	6.61 %	3.34 %
2016	5.31 %	5.10 %	1.97 %
2017	6.56 %	6.37 %	2.31 %
2018	3.99 %	4.09 %	1.72 %
2019	6.39 %	8.81 %	3.55 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2011	9.53 %	28.48 %	1.20 %
Q2 2011	10.80 %	12.27 %	25.80 %
Q3 2011	10.19 %	(11.65 %)	9.64 %
Q4 2011	6.06 %	-	26.25 %
Q1 2012	6.34 %	11.97 %	34.37 %
Q2 2012	9.65 %	(0.45 %)	10.81 %
Q3 2012	8.27 %	8.91 %	2.60 %
Q4 2012	7.96 %	-	(0.85 %)
Q1 2013	8.17 %	6.34 %	8.64 %
Q2 2013	11.55 %	8.34 %	10.39 %
Q3 2013	9.98 %	8.02 %	11.87 %
Q4 2013	6.89 %	-	2.18 %
Q1 2014	9.39 %	7.48 %	7.95 %
Q2 2014	11.07 %	8.74 %	3.74 %
Q3 2014	7.63 %	6.35 %	2.91 %
Q4 2014	5.09 %	-	-
Q1 2015	7.93 %	7.06 %	2.55 %
Q2 2015	8.43 %	7.20 %	4.60 %
Q3 2015	8.93 %	7.65 %	3.38 %
Q4 2015	5.93 %	-	-
Q1 2016	4.66 %	4.42 %	0.60 %
Q2 2016	4.50 %	4.59 %	1.65 %
Q3 2016	6.50 %	6.09 %	2.45 %
Q4 2016	5.58 %	-	0.83 %
Q1 2017	5.20 %	6.06 %	1.63 %
Q2 2017	6.82 %	7.37 %	2.06 %
Q3 2017	6.30 %	7.75 %	2.94 %
Q4 2017	7.76 %	-	1.55 %
Q1 2018	4.08 %	4.98 %	1.88 %
Q2 2018	3.21 %	3.90 %	1.76 %
Q3 2018	3.57 %	4.29 %	1.41 %
Q4 2018	5.05 %	-	0.01 %
Q1 2019	3.52 %	6.18 %	0.12 %
Q2 2019	3.85 %	6.87 %	0.86 %
Q3 2019	3.41 %	6.43 %	2.01 %
Q4 2019	13.78 %	-	(0.48 %)
Q1 2020	4.73 %	7.81 %	1.27 %
Q2 2020	15.47 %	24.86 %	10.05 %
Q3 2020	6.76 %	11.24 %	2.91 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2011	70.00	0.49	0.49	7.44
Q2 2011	70.00	0.55	0.55	7.65
Q3 2011	70.00	0.44	0.44	7.56
Q4 2011	70.00	0.57	0.57	7.78
Q1 2012	70.00	0.93	0.93	7.88
Q2 2012	70.00	0.85	0.85	7.86
Q3 2012	70.00	0.79	0.79	7.92
Q4 2012	70.00	0.64	0.53	9.91
Q1 2013	70.00	0.39	0.27	9.93
Q2 2013	70.00	0.40	0.28	9.88
Q3 2013	70.00	0.52	0.41	10.11
Q4 2013	70.00	0.57	0.44	10.41
Q1 2014	70.00	0.57	0.44	10.60
Q2 2014	70.00	0.75	0.36	10.66
Q3 2014	70.00	0.64	0.25	10.23
Q4 2014	70.00	0.49	0.22	10.37
Q1 2015	70.00	0.43	0.16	10.43
Q2 2015	70.00	0.15	0.20	10.47
Q3 2015	70.00	0.19	0.24	10.44
Q4 2015	70.00	0.19	0.24	10.46
Q1 2016	70.00	0.17	0.22	11.44
Q2 2016	70.00	0.18	0.18	11.13
Q3 2016	70.00	0.18	0.18	11.15
Q4 2016	70.00	0.28	0.22	11.18
Q1 2017	70.00	0.32	0.26	11.31
Q2 2017	70.00	0.35	0.28	11.40
Q3 2017	70.00	0.38	0.32	11.54
Q4 2017	70.00	0.35	0.35	10.42
Q1 2018	70.00	0.41	0.41	10.54
Q2 2018	70.00	0.45	0.45	10.29
Q3 2018	70.00	0.43	0.43	10.39
Q4 2018	70.00	0.36	0.36	10.74
Q1 2019	70.00	0.36	0.25	9.99
Q2 2019	70.00	0.31	0.19	10.01
Q3 2019	70.00	0.39	0.27	10.18
Q4 2019	70.00	0.69	0.22	12.14
Q1 2020	70.00	0.67	0.33	12.21
Q2 2020	70.00	0.66	0.68	11.45
Q3 2020	70.00	0.73	0.74	11.74

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2010	70.00	0.51	0.51	7.33
2011	70.00	0.57	0.57	7.78
2012	70.00	0.64	0.53	9.91
2013	70.00	0.57	0.44	10.41
2014	70.00	1.17	0.30	10.37
2015	70.00	0.27	0.32	10.46
2016	70.00	0.37	0.31	11.18
2017	70.00	0.40	0.40	10.42
2018	70.00	0.51	0.51	10.74
2019	70.00	1.72	1.26	12.14

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2011	16.08	16.08	1.07
Q2 2011	15.65	15.65	1.12
Q3 2011	20.27	20.27	1.17
Q4 2011	17.19	17.19	1.27
Q1 2012	15.39	15.39	1.82
Q2 2012	11.51	11.51	1.24
Q3 2012	14.54	14.54	1.45
Q4 2012	16.78	20.55	1.09
Q1 2013	40.53	58.27	1.58
Q2 2013	33.10	46.95	1.34
Q3 2013	24.51	31.63	1.27
Q4 2013	25.56	32.71	1.40
Q1 2014	30.03	38.46	1.61
Q2 2014	23.84	50.12	1.68
Q3 2014	30.93	79.58	1.94
Q4 2014	30.56	67.36	1.45
Q1 2015	41.20	More than 100	1.69
Q2 2015	More than 100	More than 100	2.34
Q3 2015	85.40	67.25	1.57
Q4 2015	89.52	70.49	1.64
Q1 2016	74.86	57.29	1.10
Q2 2016	68.85	68.85	1.12
Q3 2016	50.52	50.52	0.83
Q4 2016	51.96	67.07	1.30
Q1 2017	42.04	52.26	1.20
Q2 2017	36.38	44.41	1.11
Q3 2017	38.67	46.33	1.27
Q4 2017	41.38	41.38	1.41
Q1 2018	33.03	33.03	1.29
Q2 2018	28.97	28.97	1.28
Q3 2018	30.57	30.57	1.27
Q4 2018	40.07	40.07	1.35
Q1 2019	39.00	57.53	1.42
Q2 2019	42.24	68.54	1.29
Q3 2019	46.12	66.23	1.75
Q4 2019	36.82	More than 100	2.08
Q1 2020	34.62	70.99	1.91
Q2 2020	33.26	32.39	1.93
Q3 2020	38.73	38.08	2.40

Period	P/E	Adjusted P/E	Price/book
2010	15.71	15.71	1.10
2011	17.19	17.19	1.27
2012	16.78	20.55	1.09
2013	25.57	32.71	1.40
2014	12.83	50.99	1.45
2015	64.53	54.01	1.64
2016	39.05	47.01	1.30
2017	36.72	36.72	1.41
2018	28.57	28.57	1.35
2019	14.65	20.02	2.08

Business Segments (Million)

Compared With The

Period	The retail sector and operation (stations and Breathers)	Transportation Fleet	Saudi Autombile and Touring Association - SATA	investment sector	Consolidation adjustments & eliminations
Q3 2012	80.90	1.70	5.65	5.78	(2.06)
Q4 2012	78.36	1.85	6.17	14.58	(9.79)
Q1 2013	81.91	2.21	3.02	12.09	(7.87)
Q2 2013	96.14	-	9.17	-	7.87
Q3 2013	85.51	6.82	7.82	-	(6.81)
Q4 2013	81.32	2.12	4.67	-	(2.79)
Q1 2014	94.51	2.41	3.64	-	(2.57)
Q2 2014	104.35	2.69	9.23	-	(2.87)
Q3 2014	117.00	2.73	6.76	-	(2.92)
Q4 2014	114.97	2.44	3.56	-	(2.54)
Q1 2015	123.27	2.78	3.42	-	(2.92)
Q2 2015	155.78	3.84	3.76	-	(3.84)
Q3 2015	183.13	4.42	8.45	-	(4.40)
Q4 2015	183.06	4.30	4.66	-	(4.64)
Q1 2016	269.80	4.67	3.32	-	(6.83)
Q2 2016	267.65	5.05	8.25	-	(5.98)
Q3 2016	269.70	4.92	5.67	-	(7.81)
Q4 2016	274.25	5.03	3.23	-	(6.79)
Q1 2017	279.64	5.31	3.99	-	(6.91)
Q2 2017	302.81	5.90	8.73	-	(8.06)
Q3 2017	300.71	5.80	6.73	-	(8.26)
Q4 2017	318.53	5.75	3.27	-	(11.62)
Q1 2018	473.30	5.96	0.92	-	(20.23)
Q2 2018	518.86	6.68	3.92	-	(7.18)
Q3 2018	533.70	6.95	5.47	-	(21.51)
Q4 2018	564.44	6.78	1.70	-	(23.66)
Q1 2019	564.55	6.78	2.42	-	(12.88)
Q2 2019	594.50	7.05	4.89	-	(13.49)
Q3 2019	645.82	7.52	4.74	-	(10.81)
Q4 2019	694.24	7.81	2.21	-	(22.51)
Q1 2020	701.85	7.66	1.63	-	(70.07)
Q2 2020	332.67	5.80	0.72	-	(41.82)
Q3 2020	642.11	7.98	0.29	-	(63.55)

Period	The retail sector and operation (stations and Breathers)	Transportation Fleet	Saudi Autombile and Touring Association - SATA	investment sector	Consolidation adjustments & eliminations
2010	188.84	-	24.27	-	-
2011	227.22	-	16.72	-	-
2012	300.77	6.51	22.79	53.72	(38.81)
2013	344.88	8.94	24.68	-	(9.60)
2014	430.83	10.26	23.18	-	(10.91)
2015	645.23	15.33	20.29	-	(15.81)
2016	1,081.40	19.66	20.47	-	(27.41)
2017	1,201.69	22.76	22.72	-	(34.85)
2018	2,090.29	26.36	12.01	-	(72.58)
2019	2,499.13	29.16	14.25	-	(59.69)

Financial Ratios

	Current
Market Cap (M Riyal)	3,437.00
Enterprise Value (EV) (M)	4,766.37
Shares Outstanding ((M))	70.00
EPS ( Riyal) (TTM)	1.45
Book Value (BV) ( Riyal)	12.67
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	More than 100
P/E (TTM)	33.89
Price/book	3.87
Return on Average Assets (%) (TTM)	1.7
Return on Average Equity (%) (TTM)	11.8

Saudi Automotive Services Co. (SASCO)

Twitter

Facebook

Linked in

Comments {{getCommentCount()}}

Be the first to comment

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

Sorry: the validity period has ended to comment on this news

Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

SASCO net profit rises 11% to SAR 30 mln in 9M 2020

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)

Revenue by Business Segment (Latest) 2020 Q3

Financial Ratios

Share Price

Saudi Automotive Services Co. (SASCO)

Comments {{getCommentCount()}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}}

SASCO net profit rises 11% to SAR 30 mln in 9M 2020

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) Q3 2020

Revenue by Business Segment (Latest) 2020 Q3

Financial Ratios

Share Price

Saudi Automotive Services Co. (SASCO)

Comments {{getCommentCount()}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}}

Business Segments (Million)