Saudi Catering’s net profit rises 6% in nine-months 2015

Saudi Catering’s net profit rises 6% in nine-months 2015

20/10/2015 Argaam Exclusive

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Saudi Airlines Catering Co., which provides in-flight catering, reported a net profit of SAR 507.8 million for the first nine months of 2015, marking a 5.5 percent increase compared to the same period last year on business growth.



Financials (M)

Item 9m 2014 9m 2015 Change‬
Revenues 1,600.56 1,704.44 6.5 %
Gross Income 591.24 596.18 0.8 %
Operating Income 468.65 484.91 3.5 %
Net Income 481.11 507.76 5.5 %
Average Shares 82.00 82.00 -
EPS (Riyals) 5.87 6.19 5.5 %

 

The company reported a net profit of SAR 164.5 million in Q3-2015, a year-on-year growth of 6.1 percent. When compared to the previous quarter (Q2-2015), the company’s net profit fell 6.4 percent due to the termination of some non-profitable contracts. 



Current Quarter Comparison (M)

Compared With The
Item Q3 2014 Q3 2015 Change‬
Revenues 552.54 578.88 4.8 %
Gross Income 188.03 203.26 8.1 %
Operating Income 152.15 159.97 5.1 %
Net Income 154.98 164.50 6.1 %
Average Shares 82.00 82.00 -
EPS (Riyals) 1.89 2.01 6.1 %


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
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 - - - - - -
Q2 2010 - - - - - -
Q3 2010 - - - - - -
Q4 2010 - - - - - -
Q1 2011 291.44 - 119.72 - 87.39 -
Q2 2011 367.89 - 142.32 - 102.45 -
Q3 2011 390.62 - 149.44 - 120.72 -
Q4 2011 415.32 - 146.99 - 108.09 -
Q1 2012 383.78 31.7 % 141.44 18.1 % 104.69 19.8 %
Q2 2012 414.28 12.6 % 176.80 24.2 % 142.42 39.0 %
Q3 2012 442.45 13.3 % 156.70 4.9 % 132.87 10.1 %
Q4 2012 446.89 7.6 % 153.06 4.1 % 126.80 17.3 %
Q1 2013 451.52 17.7 % 169.80 20.0 % 139.05 32.8 %
Q2 2013 475.08 14.7 % 188.40 6.6 % 157.36 10.5 %
Q3 2013 460.52 4.1 % 156.18 (0.3 %) 126.55 (4.8 %)
Q4 2013 480.37 7.5 % 177.54 16.0 % 122.86 (3.1 %)
Q1 2014 496.69 10.0 % 195.56 15.2 % 155.75 12.0 %
Q2 2014 551.34 16.1 % 207.65 10.2 % 160.75 2.2 %
Q3 2014 552.54 20.0 % 188.03 20.4 % 152.15 20.2 %
Q4 2014 535.38 11.4 % 183.34 3.3 % 164.68 34.0 %
Q1 2015 560.35 12.8 % 194.73 (0.4 %) 162.11 4.1 %
Q2 2015 565.21 2.5 % 198.19 (4.6 %) 162.82 1.3 %
Q3 2015 578.88 4.8 % 203.26 8.1 % 159.97 5.1 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
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 - - - - - -
Q2 2010 - - - - - -
Q3 2010 - - - - - -
Q4 2010 - - - - - -
Q1 2011 87.44 - 1.07 - 87.44 1.07
Q2 2011 102.75 - 1.25 - 102.75 1.25
Q3 2011 121.12 - 1.48 - 121.12 1.48
Q4 2011 109.25 - 1.33 - 109.25 1.33
Q1 2012 105.92 21.1 % 1.29 - 105.92 1.29
Q2 2012 143.12 39.3 % 1.75 - 143.12 1.75
Q3 2012 134.18 10.8 % 1.64 - 134.18 1.64
Q4 2012 103.83 (5.0 %) 1.27 (22.80) 126.63 1.54
Q1 2013 140.75 32.9 % 1.72 - 140.75 1.72
Q2 2013 167.99 17.4 % 2.05 - 167.99 2.05
Q3 2013 133.43 (0.6 %) 1.63 - 133.43 1.63
Q4 2013 127.19 22.5 % 1.55 - 127.19 1.55
Q1 2014 161.78 14.9 % 1.97 - 161.78 1.97
Q2 2014 164.35 (2.2 %) 2.00 - 164.35 2.00
Q3 2014 154.98 16.1 % 1.89 - 154.98 1.89
Q4 2014 172.83 35.9 % 2.11 - 172.83 2.11
Q1 2015 167.44 3.5 % 2.04 - 167.44 2.04
Q2 2015 175.82 7.0 % 2.14 - 175.82 2.14
Q3 2015 164.50 6.1 % 2.01 - 164.50 2.01

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
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 - - -
Q2 2010 - - -
Q3 2010 - - -
Q4 2010 - - -
Q1 2011 - - -
Q2 2011 - - -
Q3 2011 - - -
Q4 2011 38.11 % 29.12 % 28.70 %
Q1 2012 37.25 % 28.79 % 28.19 %
Q2 2012 38.32 % 30.72 % 29.89 %
Q3 2012 37.56 % 30.51 % 29.74 %
Q4 2012 37.22 % 30.97 % 30.22 %
Q1 2013 37.40 % 31.70 % 31.03 %
Q2 2013 36.78 % 31.44 % 31.36 %
Q3 2013 36.39 % 30.76 % 31.01 %
Q4 2013 37.05 % 30.06 % 30.49 %
Q1 2014 37.52 % 30.23 % 30.87 %
Q2 2014 37.05 % 29.28 % 29.50 %
Q3 2014 36.94 % 29.26 % 29.23 %
Q4 2014 36.26 % 30.52 % 30.62 %
Q1 2015 35.18 % 29.98 % 29.99 %
Q2 2015 34.53 % 29.94 % 30.32 %
Q3 2015 34.80 % 30.00 % 30.39 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
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 - - - -
Q2 2010 - - - -
Q3 2010 - - - -
Q4 2010 - - - -
Q1 2011 82.00 - - -
Q2 2011 82.00 - - 11.27
Q3 2011 82.00 - - 11.72
Q4 2011 82.00 5.13 5.13 11.96
Q1 2012 82.00 5.35 5.35 11.71
Q2 2012 82.00 5.85 5.85 13.29
Q3 2012 82.00 6.01 6.01 12.81
Q4 2012 82.00 5.94 6.22 12.95
Q1 2013 82.00 6.36 6.64 14.51
Q2 2013 82.00 6.67 6.95 13.71
Q3 2013 82.00 6.66 6.94 13.95
Q4 2013 82.00 6.94 6.94 14.13
Q1 2014 82.00 7.20 7.20 14.27
Q2 2014 82.00 7.16 7.16 14.65
Q3 2014 82.00 7.42 7.42 14.67
Q4 2014 82.00 7.97 7.97 14.95
Q1 2015 82.00 8.04 8.04 16.84
Q2 2015 82.00 8.18 8.18 15.39
Q3 2015 82.00 8.30 8.30 15.58

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
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 - - -
Q2 2010 - - -
Q3 2010 - - -
Q4 2010 - - -
Q1 2011 - - -
Q2 2011 - - -
Q3 2011 - - -
Q4 2011 - - -
Q1 2012 - - -
Q2 2012 - - -
Q3 2012 12.15 12.15 5.70
Q4 2012 13.13 12.54 6.02
Q1 2013 14.22 13.62 6.24
Q2 2013 17.51 16.81 8.51
Q3 2013 19.45 18.67 9.28
Q4 2013 20.38 20.38 10.01
Q1 2014 21.88 21.88 11.03
Q2 2014 24.03 24.03 11.74
Q3 2014 25.61 25.61 12.95
Q4 2014 23.31 23.31 12.44
Q1 2015 21.30 21.30 10.18
Q2 2015 20.01 20.01 10.64
Q3 2015 16.74 16.74 8.92

Business Segments (Million)

Compared With The
Period Catering services sky sales
Q3 2011 350.94 39.69
Q4 2011 376.62 38.70
Q1 2012 341.57 42.21
Q2 2012 370.97 43.32
Q3 2012 397.83 44.62
Q4 2012 400.15 46.74
Q1 2013 404.18 47.34
Q2 2013 427.16 47.92
Q3 2013 414.59 45.93
Q4 2013 432.60 47.77
Q1 2014 447.67 49.02
Q2 2014 498.34 53.00
Q3 2014 500.86 51.68
Q4 2014 479.68 55.70
Q1 2015 505.05 55.30
Q2 2015 508.42 56.79
Q3 2015 517.90 60.98

Analysts Estimates (Million)

Item Q3 2015 (e) Q3 2015 (a) Change‬
Average 174.90 164.50 (5.9 %)

Estimates vs Actual (Million)

Item Q3 2015 (e) Q3 2015 (a) Change
SFC 170.00 164.50 (3.2) %
99Hlala Capital 174.00 164.50 (5.5) %
OSOOL AND BAKHEET 175.60 164.50 (6.3) %
AlJazira Capital 176.90 164.50 (7.0) %
Alistithmar Capital 178.00 164.50 (7.6) %


Financial Ratios
Current
Market Cap (M Riyal) 10,627.20
Enterprise Value (EV) (M) 10,279.90
Shares Outstanding ((M)) 82.00
EPS ( Riyal) (TTM) 3.94
Book Value (BV) ( Riyal) 16.53
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 33.37
P/E (TTM) 32.85
Price/book 7.84
Return on Average Assets (%) (TTM) 14.2
Return on Average Equity (%) (TTM) 25.2
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Share Price

CATRION Catering Holding Co.
129.60
1.60 1.25 %

CATRION Catering Holding Co. (CATRION)

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