eXtra’s Q1 net profit rises 66% on higher sales

09/04/2018 Argaam Exclusive

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United Electronics Company (eXtra) reported a net profit of SAR 21.6 million for the first quarter of 2018, a 66.2 percent year-on-year (YoY) increase due to higher sales, along with a rise in margins of some products and services.

Q1 net profit fell 62.6 percent compared to the previous quarter on lower sales.

Current Quarter Comparison (M)

Compared With The

Item	Q1 2017	Q1 2018	Change‬
Revenues	804.67	864.61	7.4 %
Gross Income	134.40	152.75	13.6 %
Operating Income	14.03	25.19	79.5 %
Net Income	12.99	21.57	66.0 %
Average Shares	80.00	80.00	-
EPS (Riyals)	0.16	0.27	66.0 %

Item	Q4 2017	Q1 2018	Change‬
Revenues	1,613.25	864.61	(46.4 %)
Gross Income	253.04	152.75	(39.6 %)
Operating Income	70.08	25.19	(64.1 %)
Net Income	57.65	21.57	(62.6 %)
Average Shares	80.00	80.00	-
EPS (Riyals)	0.72	0.27	(62.6 %)

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
Q1 2009	-	-	-	-	-	-
Q2 2009	-	-	-	-	-	-
Q3 2009	-	-	-	-	-	-
Q4 2009	-	-	-	-	-	-
2009	1,439.86	14.1 %	225.57	27.0 %	40.91	123.3 %
Q1 2010	-	-	-	-	-	-
Q2 2010	-	-	-	-	-	-
Q3 2010	455.43	-	80.77	-	24.58	-
Q4 2010	531.23	-	101.02	-	38.72	-
2010	1,778.38	23.5 %	322.09	42.8 %	99.43	143.1 %
Q1 2011	476.68	-	91.62	-	20.16	-
Q2 2011	650.72	-	119.43	-	46.71	-
Q3 2011	610.26	34.0 %	103.99	28.7 %	27.12	10.3 %
Q4 2011	723.86	36.3 %	120.23	19.0 %	41.92	8.3 %
2011	2,461.51	38.4 %	435.27	35.1 %	135.91	36.7 %
Q1 2012	626.03	31.3 %	111.95	22.2 %	24.34	20.7 %
Q2 2012	726.27	11.6 %	131.05	9.7 %	49.66	6.3 %
Q3 2012	698.82	14.5 %	120.95	16.3 %	29.34	8.2 %
Q4 2012	963.92	33.2 %	166.56	38.5 %	60.20	43.6 %
2012	3,015.04	22.5 %	530.51	21.9 %	163.54	20.3 %
Q1 2013	723.40	15.6 %	126.65	13.1 %	26.90	10.5 %
Q2 2013	971.21	33.7 %	160.30	22.3 %	54.90	10.5 %
Q3 2013	778.64	11.4 %	141.10	16.7 %	30.30	3.2 %
Q4 2013	914.43	(5.1 %)	173.54	4.2 %	60.30	0.2 %
2013	3,387.67	12.4 %	601.59	13.4 %	172.35	5.4 %
Q1 2014	807.33	11.6 %	144.84	14.4 %	30.64	13.9 %
Q2 2014	984.29	1.3 %	167.96	4.8 %	56.14	2.3 %
Q3 2014	809.06	3.9 %	144.06	2.1 %	30.30	0.0 %
Q4 2014	1,088.69	19.1 %	163.90	(5.6 %)	8.71	(85.6 %)
2014	3,689.36	8.9 %	620.76	3.2 %	125.79	(27.0 %)
Q1 2015	871.71	8.0 %	134.11	(7.4 %)	17.45	(43.1 %)
Q2 2015	879.50	(10.6 %)	138.51	(17.5 %)	13.12	(76.6 %)
Q3 2015	719.66	(11.0 %)	128.60	(10.7 %)	11.99	(60.4 %)
Q4 2015	1,273.91	17.0 %	176.00	7.4 %	12.59	44.5 %
2015	3,744.79	1.5 %	577.54	(7.0 %)	55.14	(56.2 %)
Q1 2016	742.91	(14.8 %)	97.51	(27.3 %)	(44.71)	(356.3 %)
Q2 2016	881.27	0.2 %	145.33	4.9 %	12.16	(7.3 %)
Q3 2016	745.45	3.6 %	133.06	3.5 %	11.94	(0.4 %)
Q4 2016	1,387.04	8.9 %	213.39	21.2 %	44.13	250.6 %
2016	3,756.67	0.3 %	589.29	2.0 %	23.51	(57.4 %)
Q1 2017	804.67	8.3 %	134.40	37.8 %	14.03	131.4 %
Q2 2017	1,013.91	15.1 %	172.29	18.6 %	44.08	262.5 %
Q3 2017	777.96	4.4 %	150.59	13.2 %	28.11	135.5 %
Q4 2017	1,613.25	16.3 %	253.04	18.6 %	70.08	58.8 %
2017	4,209.78	12.1 %	710.33	20.5 %	156.30	564.8 %
Q1 2018	864.61	7.4 %	152.75	13.6 %	25.19	79.5 %

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2008	1,262.14	20.9 %	177.67	26.7 %	18.32	76.5 %
2009	1,439.86	14.1 %	225.57	27.0 %	40.91	123.3 %
2010	1,778.38	23.5 %	322.09	42.8 %	99.43	143.1 %
2011	2,461.51	38.4 %	435.27	35.1 %	135.91	36.7 %
2012	3,015.04	22.5 %	530.51	21.9 %	163.54	20.3 %
2013	3,387.67	12.4 %	601.59	13.4 %	172.35	5.4 %
2014	3,689.36	8.9 %	620.76	3.2 %	125.79	(27.0 %)
2015	3,744.79	1.5 %	577.54	(7.0 %)	55.14	(56.2 %)
2016	3,756.67	0.3 %	589.29	2.0 %	23.51	(57.4 %)
2017	4,209.78	12.1 %	710.33	20.5 %	156.30	564.8 %

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
Q1 2009	-	-	-	-	-	-
Q2 2009	-	-	-	-	-	-
Q3 2009	-	-	-	-	-	-
Q4 2009	-	-	-	-	-	-
2009	41.05	160.6 %	0.51	-	41.05	0.51
Q1 2010	-	-	-	-	-	-
Q2 2010	-	-	-	-	-	-
Q3 2010	24.52	-	0.31	-	24.52	0.31
Q4 2010	37.36	-	0.47	-	37.36	0.47
2010	97.73	138.1 %	1.22	-	97.73	1.22
Q1 2011	19.05	-	0.24	-	19.05	0.24
Q2 2011	45.46	-	0.57	-	45.46	0.57
Q3 2011	26.36	7.5 %	0.33	-	26.36	0.33
Q4 2011	41.21	10.3 %	0.52	-	41.21	0.52
2011	132.08	35.1 %	1.65	-	132.08	1.65
Q1 2012	23.78	24.8 %	0.30	-	23.78	0.30
Q2 2012	48.37	6.4 %	0.60	-	48.37	0.60
Q3 2012	28.37	7.6 %	0.35	-	28.37	0.35
Q4 2012	58.08	40.9 %	0.73	-	58.08	0.73
2012	158.59	20.1 %	1.98	-	158.59	1.98
Q1 2013	26.22	10.3 %	0.33	-	26.22	0.33
Q2 2013	53.30	10.2 %	0.67	-	53.30	0.67
Q3 2013	29.44	3.8 %	0.37	-	29.44	0.37
Q4 2013	58.37	0.5 %	0.73	-	58.37	0.73
2013	167.33	5.5 %	2.09	-	167.33	2.09
Q1 2014	29.25	11.6 %	0.37	-	29.25	0.37
Q2 2014	53.77	0.9 %	0.67	-	53.77	0.67
Q3 2014	29.75	1.0 %	0.37	-	29.75	0.37
Q4 2014	8.28	(85.8 %)	0.10	-	8.28	0.10
2014	121.04	(27.7 %)	1.51	-	121.04	1.51
Q1 2015	16.08	(45.0 %)	0.20	-	16.08	0.20
Q2 2015	11.83	(78.0 %)	0.15	-	11.83	0.15
Q3 2015	12.20	(59.0 %)	0.15	-	12.20	0.15
Q4 2015	9.07	9.7 %	0.11	-	9.07	0.11
2015	49.18	(59.4 %)	0.61	-	49.18	0.61
Q1 2016	(45.89)	(385.4 %)	(0.57)	-	(45.89)	(0.57)
Q2 2016	11.02	(6.8 %)	0.14	-	11.02	0.14
Q3 2016	6.16	(49.5 %)	0.08	(5.20)	11.36	0.14
Q4 2016	26.34	190.2 %	0.33	(15.62)	41.96	0.52
2016	(2.36)	(104.8 %)	(0.03)	(20.82)	18.46	0.23
Q1 2017	12.99	128.3 %	0.16	-	12.99	0.16
Q2 2017	43.37	293.4 %	0.54	-	43.37	0.54
Q3 2017	26.13	324.1 %	0.33	-	26.13	0.33
Q4 2017	57.65	118.9 %	0.72	(9.60)	67.25	0.84
2017	140.14	6028.0 %	1.75	(9.60)	149.74	1.87
Q1 2018	21.57	66.0 %	0.27	-	21.57	0.27

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2008	15.75	1496.1 %	0.20	-	15.75	0.20
2009	41.05	160.6 %	0.51	-	41.05	0.51
2010	97.73	138.1 %	1.22	-	97.73	1.22
2011	132.08	35.1 %	1.65	-	132.08	1.65
2012	158.59	20.1 %	1.98	-	158.59	1.98
2013	167.33	5.5 %	2.09	-	167.33	2.09
2014	121.04	(27.7 %)	1.51	-	121.04	1.51
2015	49.18	(59.4 %)	0.61	-	49.18	0.61
2016	(2.36)	(104.8 %)	(0.03)	(20.82)	18.46	0.23
2017	140.14	6028.0 %	1.75	(9.60)	149.74	1.87

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2009	-	-	-
Q2 2009	-	-	-
Q3 2009	-	-	-
Q4 2009	-	-	-
2009	15.67 %	4.22 %	2.85 %
Q1 2010	-	-	-
Q2 2010	-	-	-
Q3 2010	-	-	-
Q4 2010	-	-	-
2010	18.11 %	6.65 %	5.50 %
Q1 2011	-	-	-
Q2 2011	18.58 %	6.91 %	5.98 %
Q3 2011	18.34 %	6.79 %	5.65 %
Q4 2011	17.68 %	6.42 %	5.37 %
2011	17.68 %	6.42 %	5.37 %
Q1 2012	17.45 %	6.27 %	5.24 %
Q2 2012	17.39 %	6.25 %	5.20 %
Q3 2012	17.45 %	6.19 %	5.11 %
Q4 2012	17.60 %	6.36 %	5.26 %
2012	17.60 %	6.36 %	5.26 %
Q1 2013	17.52 %	6.29 %	5.17 %
Q2 2013	17.11 %	6.06 %	4.94 %
Q3 2013	17.30 %	6.04 %	4.86 %
Q4 2013	17.76 %	6.21 %	4.94 %
2013	17.76 %	6.21 %	4.94 %
Q1 2014	17.85 %	6.24 %	4.91 %
Q2 2014	18.01 %	6.30 %	4.90 %
Q3 2014	17.93 %	6.28 %	4.87 %
Q4 2014	16.83 %	4.60 %	3.28 %
2014	16.83 %	4.60 %	3.28 %
Q1 2015	16.25 %	4.19 %	2.87 %
Q2 2015	15.91 %	3.15 %	1.81 %
Q3 2015	15.88 %	2.72 %	1.36 %
Q4 2015	15.41 %	2.71 %	1.31 %
2015	15.42 %	2.71 %	1.31 %
Q1 2016	14.95 %	1.10 %	(0.35 %)
Q2 2016	15.13 %	1.00 %	(0.38 %)
Q3 2016	15.15 %	1.01 %	(0.40 %)
Q4 2016	15.69 %	1.78 %	0.49 %
2016	15.69 %	1.78 %	0.49 %
Q1 2017	16.40 %	3.25 %	2.03 %
Q2 2017	16.53 %	4.02 %	2.78 %
Q3 2017	16.84 %	4.36 %	3.12 %
Q4 2017	16.87 %	4.76 %	3.56 %
2017	16.87 %	4.76 %	3.56 %
Q1 2018	17.07 %	4.96 %	3.71 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2008	14.08 %	2.81 %	1.25 %
2009	15.67 %	4.22 %	2.85 %
2010	18.11 %	6.65 %	5.50 %
2011	17.68 %	6.42 %	5.37 %
2012	17.60 %	6.36 %	5.26 %
2013	17.76 %	6.21 %	4.94 %
2014	16.83 %	4.60 %	3.28 %
2015	15.42 %	2.71 %	1.31 %
2016	15.69 %	1.78 %	0.49 %
2017	16.87 %	4.76 %	3.56 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2009	-	-	-
Q2 2009	-	-	-
Q3 2009	-	-	-
Q4 2009	-	-	-
Q1 2010	-	-	-
Q2 2010	-	-	-
Q3 2010	17.74 %	5.40 %	5.38 %
Q4 2010	19.02 %	8.28 %	7.03 %
Q1 2011	19.22 %	5.32 %	4.00 %
Q2 2011	18.35 %	8.02 %	6.99 %
Q3 2011	17.04 %	5.34 %	4.32 %
Q4 2011	16.61 %	6.61 %	5.69 %
Q1 2012	17.88 %	4.97 %	3.80 %
Q2 2012	18.04 %	7.77 %	6.66 %
Q3 2012	17.31 %	5.22 %	4.06 %
Q4 2012	17.28 %	7.02 %	6.03 %
Q1 2013	17.51 %	4.88 %	3.62 %
Q2 2013	16.51 %	6.60 %	5.49 %
Q3 2013	18.12 %	5.20 %	3.78 %
Q4 2013	18.98 %	7.72 %	6.38 %
Q1 2014	17.94 %	5.12 %	3.62 %
Q2 2014	17.06 %	6.83 %	5.46 %
Q3 2014	17.81 %	5.14 %	3.68 %
Q4 2014	15.05 %	1.80 %	0.76 %
Q1 2015	15.38 %	3.32 %	1.84 %
Q2 2015	15.75 %	2.81 %	1.34 %
Q3 2015	17.87 %	3.27 %	1.70 %
Q4 2015	13.82 %	1.91 %	0.71 %
Q1 2016	13.13 %	(4.41 %)	(6.18 %)
Q2 2016	16.49 %	2.38 %	1.25 %
Q3 2016	17.85 %	3.23 %	1.52 %
Q4 2016	15.38 %	3.94 %	3.02 %
Q1 2017	16.70 %	3.02 %	1.61 %
Q2 2017	16.99 %	5.50 %	4.28 %
Q3 2017	19.36 %	5.01 %	3.36 %
Q4 2017	15.69 %	5.06 %	4.17 %
Q1 2018	17.67 %	4.11 %	2.50 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2009	-	-	-	-
Q2 2009	-	-	-	-
Q3 2009	-	-	-	-
Q4 2009	-	-	-	-
Q1 2010	-	-	-	-
Q2 2010	-	-	-	-
Q3 2010	80.00	-	-	2.57
Q4 2010	80.00	-	-	3.04
Q1 2011	80.00	-	-	3.28
Q2 2011	80.00	1.58	1.58	3.85
Q3 2011	80.00	1.60	1.60	4.18
Q4 2011	80.00	1.65	1.65	4.69
Q1 2012	80.00	1.71	1.71	4.22
Q2 2012	80.00	1.75	1.75	4.83
Q3 2012	80.00	1.77	1.77	5.18
Q4 2012	80.00	1.98	1.98	5.91
Q1 2013	80.00	2.01	2.01	6.23
Q2 2013	80.00	2.07	2.07	6.13
Q3 2013	80.00	2.09	2.09	6.03
Q4 2013	80.00	2.09	2.09	6.10
Q1 2014	80.00	2.13	2.13	6.47
Q2 2014	80.00	2.14	2.14	6.74
Q3 2014	80.00	2.14	2.14	6.74
Q4 2014	80.00	1.51	1.51	6.47
Q1 2015	80.00	1.35	1.35	6.67
Q2 2015	80.00	0.82	0.82	6.61
Q3 2015	80.00	0.60	0.60	6.53
Q4 2015	80.00	0.61	0.61	6.65
Q1 2016	80.00	(0.16)	(0.16)	6.09
Q2 2016	80.00	(0.17)	(0.17)	6.22
Q3 2016	80.00	(0.25)	(0.18)	6.31
Q4 2016	80.00	(0.03)	0.23	6.60
Q1 2017	80.00	0.71	0.97	5.87
Q2 2017	80.00	1.11	1.37	6.41
Q3 2017	80.00	1.36	1.56	6.35
Q4 2017	80.00	1.75	1.87	7.08
Q1 2018	80.00	1.86	1.98	6.68

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2008	80.00	0.20	0.20	1.31
2009	80.00	0.51	0.51	1.82
2010	80.00	1.22	1.22	3.04
2011	80.00	1.65	1.65	4.69
2012	80.00	1.98	1.98	5.91
2013	80.00	2.09	2.09	6.10
2014	80.00	1.51	1.51	6.47
2015	80.00	0.61	0.61	6.65
2016	80.00	(0.03)	0.23	6.60
2017	80.00	1.75	1.87	7.08

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2009	-	-	-
Q2 2009	-	-	-
Q3 2009	-	-	-
Q4 2009	-	-	-
Q1 2010	-	-	-
Q2 2010	-	-	-
Q3 2010	-	-	-
Q4 2010	-	-	-
Q1 2011	-	-	-
Q2 2011	-	-	-
Q3 2011	-	-	-
Q4 2011	13.96	13.96	4.91
Q1 2012	16.05	16.05	6.50
Q2 2012	14.82	14.82	5.36
Q3 2012	15.79	15.79	5.40
Q4 2012	15.62	15.62	5.24
Q1 2013	18.05	18.05	5.83
Q2 2013	17.58	17.58	5.95
Q3 2013	21.35	21.35	7.40
Q4 2013	17.61	17.61	6.04
Q1 2014	20.14	20.14	6.63
Q2 2014	21.37	21.37	6.77
Q3 2014	20.58	20.58	6.53
Q4 2014	19.84	19.84	4.64
Q1 2015	26.44	26.44	5.35
Q2 2015	45.96	45.96	5.73
Q3 2015	34.06	34.06	3.15
Q4 2015	29.17	29.17	2.70
Q1 2016	NEG	NEG	1.91
Q2 2016	NEG	NEG	1.89
Q3 2016	NEG	NEG	1.28
Q4 2016	NEG	51.15	1.79
Q1 2017	21.61	15.79	2.60
Q2 2017	14.89	12.06	2.58
Q3 2017	17.41	15.22	3.73
Q4 2017	14.12	13.21	3.49
Q1 2018	19.10	17.94	5.31

Period	P/E	Adjusted P/E	Price/book
2008	-	-	-
2009	-	-	-
2010	-	-	-
2011	13.96	13.96	4.91
2012	15.62	15.62	5.24
2013	17.61	17.61	6.04
2014	19.84	19.84	4.64
2015	29.17	29.17	2.70
2016	NEG	51.15	1.79
2017	14.12	13.21	3.49

Analysts Estimates (Million)

Item	Q1 2018 (e)	Q1 2018 (a)	Change‬
Average	18.67	21.57	15.56 %

Estimates vs Actual (Million)

Item	Q1 2018 (e)	Q1 2018 (a)	Change
Al Rajhi Capital	20.00	21.57	7.9 %
Albilad Capital	18.00	21.57	19.8 %
SNB Capital	18.00	21.57	19.8 %

Financial Ratios

	Current
Market Cap (M Riyal)	7,896.00
Enterprise Value (EV) (M)	9,130.89
Shares Outstanding ((M))	80.00
EPS ( Riyal) (TTM)	6.04
Book Value (BV) ( Riyal)	16.97
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	16.92
P/E (TTM)	16.35
Price/book	5.82
Return on Average Assets (%) (TTM)	10.6
Return on Average Equity (%) (TTM)	38.7

United Electronics Co. (EXTRA)

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eXtra’s Q1 net profit rises 66% on higher sales

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Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

Share Price

United Electronics Co. (EXTRA)

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eXtra’s Q1 net profit rises 66% on higher sales

View other reports

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

Share Price

United Electronics Co. (EXTRA)

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