Bawan’s net profit plunges 49% in nine-months 2015
19/10/2015
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Bawan Co. reported a profit of SAR 71.3 million for the first nine months of 2015, a 49 percent decline compared to the same period last year mainly attributed a drop in revenue and a rise in expenses.
Financials (M)
| Item | 9m 2014 | 9m 2015 | Change |
|---|---|---|---|
| Revenues | 2,145.71 | 1,854.05 | (13.6 %) |
| Gross Income | 312.73 | 218.68 | (30.1 %) |
| Operating Income | 184.21 | 94.97 | (48.4 %) |
| Net Income | 139.24 | 71.27 | (48.8 %) |
| Average Shares | 60.00 | 60.00 | - |
| Earnings Per Share before unusual items | 2.34 | 1.19 | (49.3 %) |
| EPS (Riyals) | 2.32 | 1.19 | (48.8 %) |
The company reported a net income of SAR 20.13 million in Q3 this year, a 56 percent decline compared to the same quarter last year on lower revenue and higher operating expenses.
Compared With The
Current Quarter Comparison (M)
| Item | Q3 2014 | Q3 2015 | Change |
|---|---|---|---|
| Revenues | 613.76 | 546.48 | (11.0 %) |
| Gross Income | 92.10 | 70.02 | (24.0 %) |
| Operating Income | 55.35 | 29.19 | (47.3 %) |
| Net Income | 45.42 | 20.13 | (55.7 %) |
| Average Shares | 60.00 | 60.00 | - |
| Earnings Per Share before unusual items | 0.74 | 0.34 | (54.7 %) |
| EPS (Riyals) | 0.76 | 0.34 | (55.7 %) |
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| Q1 2015 | 661.53 | (14.5 %) | 76.76 | (32.1 %) | 35.76 | (47.8 %) |
| Q2 2015 | 646.04 | (14.8 %) | 71.90 | (33.1 %) | 30.01 | (50.3 %) |
| Q3 2015 | 546.48 | (11.0 %) | 70.02 | (24.0 %) | 29.19 | (47.3 %) |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | Earnings Per Share before unusual items |
|---|---|---|---|---|---|---|
| Q1 2015 | 27.33 | (41.5 %) | 0.46 | - | 27.33 | 0.46 |
| Q2 2015 | 23.81 | (49.5 %) | 0.40 | - | 23.81 | 0.40 |
| Q3 2015 | 20.13 | (55.7 %) | 0.34 | - | 20.13 | 0.34 |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| Q1 2015 | 13.30 % | 8.89 % | 5.18 % |
| Q2 2015 | 12.50 % | 8.18 % | 4.65 % |
| Q3 2015 | 11.96 % | 7.43 % | 3.80 % |
Compared With The
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Earnings Per Share before unusual items (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| Q1 2015 | 60.00 | 2.62 | 2.32 | 12.69 |
| Q2 2015 | 60.00 | 2.23 | 2.00 | 12.66 |
| Q3 2015 | 60.00 | 1.81 | 1.59 | 12.79 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| Q1 2015 | 15.62 | 17.62 | 3.22 |
| Q2 2015 | 18.03 | 20.15 | 3.18 |
| Q3 2015 | 15.58 | 17.70 | 2.20 |
Business Segments (Million)
Q3 2015
| Period | Electrical products | concrete | Iron Industry | Wood | Others |
|---|---|---|---|---|---|
| Q1 2015 | 90.02 | 57.09 | 330.33 | 184.08 | - |
| Q2 2015 | 113.47 | 51.96 | 301.33 | 179.29 | - |
| Q3 2015 | 119.82 | 46.97 | 215.28 | 164.41 | - |
Analysts Estimates (Million)
| Item | Q3 2015 (e) | Q3 2015 (a) | Change |
|---|---|---|---|
| Average | 21.00 | 20.13 | (4.2 %) |
Estimates vs Actual (Million)
| Item | Q3 2015 (e) | Q3 2015 (a) | Change |
|---|---|---|---|
| Riyad Capital | 21.00 | 20.13 | (4.2) % |
Share Price
Bawan Co. (BAWAN)
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