Al Sorayai Group posts lower net profit at SAR 13.1m at the end of 2013

Al Sorayai Group posts lower net profit at SAR 13.1m at the end of 2013

31/12/2013 Argaam Exclusive

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Al Sorayai Trading and Industrial Group, a manufacturer of rugs and carpets, reported SAR 13.1m net profit at the end of 2013, a 75% decrease compared to last year, as shown in the following table:



Financials (M)

Item 2012 2013 Change‬
Revenues 956.11 866.22 (9.4 %)
Gross Income 256.34 206.71 (19.4 %)
Operating Income 62.46 26.64 (57.4 %)
Net Income 52.57 13.07 (75.1 %)
Average Shares 5.93 5.93 -
EPS (Riyals) 8.87 2.21 (75.1 %)


Current Quarter Comparison (M)

Compared With The
Item Q4 2012 Q4 2013 Change‬
Revenues 232.75 215.14 (7.6 %)
Gross Income 55.72 42.90 (23.0 %)
Operating Income 9.44 (3.65) (138.7 %)
Net Income 9.07 1.67 (81.6 %)
Average Shares 5.93 5.93 -
EPS (Riyals) 1.53 0.28 (81.6 %)


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2004 - - - - - -
Q2 2004 - - - - - -
Q3 2004 - - - - - -
Q4 2004 - - - - - -
Q1 2005 - - - - - -
Q2 2005 - - - - - -
Q3 2005 - - - - - -
Q4 2005 - - - - - -
Q1 2006 - - - - - -
Q2 2006 - - - - - -
Q3 2006 - - - - - -
Q4 2006 - - - - - -
Q1 2007 - - - - - -
Q2 2007 - - - - - -
Q3 2007 - - - - - -
Q4 2007 - - - - - -
Q1 2008 - - - - - -
Q2 2008 - - - - - -
Q3 2008 - - - - - -
Q4 2008 - - - - - -
Q1 2009 210.09 - 51.88 - 18.04 -
Q2 2009 227.61 - 72.24 - 27.59 -
Q3 2009 251.05 - 74.49 - 24.21 -
Q4 2009 254.00 - 63.87 - 24.45 -
Q1 2010 198.88 (5.3 %) 50.71 (2.3 %) 11.62 (35.6 %)
Q2 2010 238.61 4.8 % 72.37 0.2 % 25.89 (6.2 %)
Q3 2010 237.77 (5.3 %) 63.21 (15.1 %) 15.95 (34.1 %)
Q4 2010 231.75 (8.8 %) 68.43 7.1 % 32.22 31.8 %
Q1 2011 188.58 (5.2 %) 51.38 1.3 % 12.82 10.4 %
Q2 2011 235.49 (1.3 %) 66.50 (8.1 %) 26.47 2.2 %
Q3 2011 232.22 (2.3 %) 56.36 (10.8 %) 13.00 (18.5 %)
Q4 2011 214.26 (7.5 %) 53.30 (22.1 %) (3.74) (111.6 %)
Q1 2012 221.74 17.6 % 58.60 14.1 % 13.91 8.5 %
Q2 2012 259.66 10.3 % 69.96 5.2 % 19.78 (25.3 %)
Q3 2012 241.97 4.2 % 72.05 27.8 % 19.33 48.7 %
Q4 2012 232.75 8.6 % 55.72 4.5 % 9.44 352.1 %
Q1 2013 220.90 (0.4 %) 56.05 (4.3 %) 11.91 (14.4 %)
Q2 2013 229.80 (11.5 %) 49.41 (29.4 %) 8.48 (57.1 %)
Q3 2013 200.39 (17.2 %) 58.35 (19.0 %) 9.90 (48.8 %)
Q4 2013 215.14 (7.6 %) 42.90 (23.0 %) (3.65) (138.7 %)
2013 866.22 (9.4 %) 206.71 (19.4 %) 26.64 (57.4 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2004 - - - - - -
Q2 2004 - - - - - -
Q3 2004 - - - - - -
Q4 2004 - - - - - -
Q1 2005 - - - - - -
Q2 2005 - - - - - -
Q3 2005 - - - - - -
Q4 2005 - - - - - -
Q1 2006 - - - - - -
Q2 2006 - - - - - -
Q3 2006 - - - - - -
Q4 2006 - - - - - -
Q1 2007 - - - - - -
Q2 2007 - - - - - -
Q3 2007 - - - - - -
Q4 2007 - - - - - -
Q1 2008 - - - - - -
Q2 2008 - - - - - -
Q3 2008 - - - - - -
Q4 2008 - - - - - -
Q1 2009 13.17 - 2.22 - 13.17 2.22
Q2 2009 22.97 - 3.88 - 22.97 3.88
Q3 2009 21.93 - 3.70 - 21.93 3.70
Q4 2009 22.19 - 3.74 - 22.19 3.74
Q1 2010 13.12 (0.4 %) 2.21 - 13.12 2.21
Q2 2010 25.14 9.4 % 4.24 - 25.14 4.24
Q3 2010 9.75 (55.5 %) 1.64 - 9.75 1.64
Q4 2010 27.99 26.1 % 4.72 - 27.99 4.72
Q1 2011 12.20 (7.0 %) 2.06 - 12.20 2.06
Q2 2011 19.47 (22.6 %) 3.28 - 19.47 3.28
Q3 2011 11.18 14.7 % 1.89 - 11.18 1.89
Q4 2011 (7.27) (126.0 %) (1.23) - (7.27) (1.23)
Q1 2012 10.49 (14.0 %) 1.77 - 10.49 1.77
Q2 2012 16.68 (14.3 %) 2.81 - 16.68 2.81
Q3 2012 16.34 46.2 % 2.76 - 16.34 2.76
Q4 2012 9.07 224.8 % 1.53 - 9.07 1.53
Q1 2013 10.55 0.6 % 1.78 - 10.55 1.78
Q2 2013 7.72 (53.7 %) 1.30 - 7.72 1.30
Q3 2013 (6.86) (142.0 %) (1.16) - (6.86) (1.16)
Q4 2013 1.67 (81.6 %) 0.28 - 1.67 0.28
2013 13.07 (75.1 %) 2.21 - 13.07 2.21

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2004 - - -
Q2 2004 - - -
Q3 2004 - - -
Q4 2004 - - -
Q1 2005 - - -
Q2 2005 - - -
Q3 2005 - - -
Q4 2005 - - -
Q1 2006 - - -
Q2 2006 - - -
Q3 2006 - - -
Q4 2006 - - -
Q1 2007 - - -
Q2 2007 - - -
Q3 2007 - - -
Q4 2007 - - -
Q1 2008 - - -
Q2 2008 - - -
Q3 2008 - - -
Q4 2008 - - -
Q1 2009 - - -
Q2 2009 - - -
Q3 2009 - - -
Q4 2009 27.84 % 14.11 % 8.51 %
Q1 2010 28.05 % 13.80 % 8.61 %
Q2 2010 27.74 % 13.68 % 8.74 %
Q3 2010 26.92 % 13.15 % 7.55 %
Q4 2010 28.08 % 14.52 % 8.38 %
Q1 2011 28.48 % 14.93 % 8.37 %
Q2 2011 27.92 % 14.80 % 7.77 %
Q3 2011 27.33 % 14.37 % 7.98 %
Q4 2011 26.14 % 10.37 % 4.09 %
Q1 2012 25.98 % 10.05 % 3.75 %
Q2 2012 25.67 % 9.25 % 3.35 %
Q3 2012 27.08 % 9.71 % 3.87 %
Q4 2012 26.81 % 11.13 % 5.50 %
Q1 2013 26.57 % 11.10 % 5.51 %
Q2 2013 25.20 % 10.21 % 4.72 %
Q3 2013 24.84 % 9.86 % 2.32 %
Q4 2013 23.86 % 8.56 % 1.51 %
2013 23.86 % 8.56 % 1.51 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2004 - - - -
Q2 2004 - - - -
Q3 2004 - - - -
Q4 2004 - - - -
Q1 2005 - - - -
Q2 2005 - - - -
Q3 2005 - - - -
Q4 2005 - - - -
Q1 2006 - - - -
Q2 2006 - - - -
Q3 2006 - - - -
Q4 2006 - - - -
Q1 2007 - - - -
Q2 2007 - - - -
Q3 2007 - - - -
Q4 2007 - - - -
Q1 2008 - - - -
Q2 2008 - - - -
Q3 2008 - - - -
Q4 2008 - - - -
Q1 2009 5.93 - - 54.92
Q2 2009 5.93 - - 58.79
Q3 2009 5.93 - - 60.80
Q4 2009 5.93 13.54 13.54 62.86
Q1 2010 5.93 13.53 13.53 64.23
Q2 2010 5.93 13.90 13.90 68.47
Q3 2010 5.93 11.84 11.84 70.12
Q4 2010 5.93 12.82 12.82 74.84
Q1 2011 5.93 12.67 12.67 71.84
Q2 2011 5.93 11.71 11.71 75.12
Q3 2011 5.93 11.95 11.95 77.01
Q4 2011 5.93 6.00 6.00 75.70
Q1 2012 5.93 5.71 5.71 77.47
Q2 2012 5.93 5.24 5.24 80.29
Q3 2012 5.93 6.11 6.11 83.04
Q4 2012 5.93 8.87 8.87 84.57
Q1 2013 5.93 8.88 8.88 86.35
Q2 2013 5.93 7.37 7.37 85.12
Q3 2013 5.93 3.45 3.45 83.97
Q4 2013 5.93 2.21 2.21 84.25

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2004 - - -
Q2 2004 - - -
Q3 2004 - - -
Q4 2004 - - -
Q1 2005 - - -
Q2 2005 - - -
Q3 2005 - - -
Q4 2005 - - -
Q1 2006 - - -
Q2 2006 - - -
Q3 2006 - - -
Q4 2006 - - -
Q1 2007 - - -
Q2 2007 - - -
Q3 2007 - - -
Q4 2007 - - -
Q1 2008 - - -
Q2 2008 - - -
Q3 2008 - - -
Q4 2008 - - -
Q1 2009 - - -
Q2 2009 - - -
Q3 2009 - - -
Q4 2009 - - -
Q1 2010 21.85 21.85 4.60
Q2 2010 17.08 17.08 3.47
Q3 2010 20.35 20.35 3.44
Q4 2010 16.49 16.49 2.82
Q1 2011 18.22 18.22 3.21
Q2 2011 18.29 18.29 2.85
Q3 2011 16.56 16.56 2.57
Q4 2011 36.44 36.44 2.89
Q1 2012 48.99 48.99 3.61
Q2 2012 38.17 38.17 2.49
Q3 2012 48.35 48.35 3.56
Q4 2012 26.07 26.07 2.73
Q1 2013 27.24 27.24 2.80
Q2 2013 30.66 30.66 2.65
Q3 2013 67.77 67.77 2.79
Q4 2013 More than 100 More than 100 2.96


Financial Ratios
Current
Market Cap (M Riyal) 1,032.23
Enterprise Value (EV) (M) 1,196.98
Shares Outstanding ((M)) 10.90
EPS ( Riyal) (TTM) (4.21)
Book Value (BV) ( Riyal) 6.05
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 15.65
Return on Average Assets (%) (TTM) (12.06 )
Return on Average Equity (%) (TTM) (51.83 )
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Share Price

Naseej International Trading Co.
94.70
2.20 2.38 %

Naseej International Trading Co. (NASEEJ)

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