Electrical Industries’ net profit up 13% in Q1

Electrical Industries’ net profit up 13% in Q1

08/05/2017 Argaam Exclusive

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Electrical Industries Co. reported a net profit of SAR 10.65 million in the first quarter 2017, marking a 12.7 percent year-on-year (YOY) increase on lower cost of sales as this quarter included sales of higher profit margin products.

 

Operating profit for the period, however, dropped due to an increase in selling & distribution expenses as a result of higher debtors provision.

When compared to previous quarter the company’s net profit fell 45 percent on lower sales, mainly of transformers and electrical stations due a drop in demand by a major client. Higher selling & distribution expenses also weighed.



Current Quarter Comparison (M)

Compared With The
Item Q1 2016 Q1 2017 Change‬
Revenues 220.84 189.11 (14.4 %)
Gross Income 35.73 38.17 6.8 %
Operating Income 15.08 13.10 (13.2 %)
Net Income 9.44 10.65 12.7 %
Average Shares 1,125.00 1,125.00 -
EPS (Halala) 0.84 0.95 12.7 %


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
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 - - - - - -
Q4 2012 - - - - - -
Q1 2013 305.08 - 75.09 - 54.71 -
Q2 2013 338.91 - 53.30 - 32.19 -
Q3 2013 269.85 - 44.06 - 26.29 -
Q4 2013 371.41 - 93.81 - 67.98 -
Q1 2014 346.75 13.7 % 79.63 6.0 % 55.64 1.7 %
Q2 2014 305.29 (9.9 %) 72.48 36.0 % 50.89 58.1 %
Q3 2014 164.51 (39.0 %) 32.38 (26.5 %) 15.64 (40.5 %)
Q4 2014 230.30 (38.0 %) 67.16 (28.4 %) 50.16 (26.2 %)
Q1 2015 200.41 (42.2 %) 39.30 (50.6 %) 22.74 (59.1 %)
Q2 2015 196.60 (35.6 %) 38.45 (47.0 %) 23.49 (53.8 %)
Q3 2015 191.27 16.3 % 32.86 1.5 % 14.23 (9.0 %)
Q4 2015 240.95 4.6 % 33.81 (49.7 %) 12.70 (74.7 %)
Q1 2016 220.84 10.2 % 35.73 (9.1 %) 15.08 (33.7 %)
Q2 2016 233.85 18.9 % 28.90 (24.8 %) 8.46 (64.0 %)
Q3 2016 206.32 7.9 % 36.91 12.4 % 15.59 9.6 %
Q4 2016 223.75 (7.1 %) 40.73 20.5 % 24.20 90.5 %
Q1 2017 189.11 (14.4 %) 38.17 6.8 % 13.10 (13.2 %)


Profit Performance (Million)

Period Net Income Change EPS(Halala) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
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 - - - - - -
Q4 2012 - - - - - -
Q1 2013 50.37 - 4.48 - 50.37 0.04
Q2 2013 27.13 - 2.41 - 27.13 0.02
Q3 2013 22.35 - 1.99 - 22.35 0.02
Q4 2013 66.11 - 5.88 - 66.11 0.06
Q1 2014 55.49 10.2 % 4.93 0.71 54.78 0.05
Q2 2014 44.67 64.7 % 3.97 2.28 42.39 0.04
Q3 2014 12.71 (43.1 %) 1.13 (9.26) 21.97 0.02
Q4 2014 58.99 (10.8 %) 5.24 12.90 46.09 0.04
Q1 2015 28.79 (48.1 %) 2.56 6.58 22.22 0.02
Q2 2015 19.96 (55.3 %) 1.77 2.96 17.00 0.02
Q3 2015 9.47 (25.5 %) 0.84 (0.27) 9.74 0.01
Q4 2015 12.14 (79.4 %) 1.08 1.50 10.64 0.01
Q1 2016 9.44 (67.2 %) 0.84 - 9.44 0.01
Q2 2016 9.78 (51.0 %) 0.87 - 9.78 0.01
Q3 2016 10.49 10.8 % 0.93 - 10.49 0.01
Q4 2016 19.67 62.0 % 1.75 - 19.67 0.02
Q1 2017 10.65 12.7 % 0.95 - 10.65 0.01

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
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 - - -
Q4 2012 - - -
Q1 2013 - - -
Q2 2013 - - -
Q3 2013 - - -
Q4 2013 20.72 % 15.68 % 12.91 %
Q1 2014 20.41 % 15.37 % 12.84 %
Q2 2014 22.42 % 17.41 % 14.35 %
Q3 2014 23.43 % 17.69 % 15.59 %
Q4 2014 24.04 % 18.85 % 15.78 %
Q1 2015 23.47 % 18.36 % 14.73 %
Q2 2015 22.39 % 17.56 % 13.55 %
Q3 2015 21.72 % 16.86 % 11.61 %
Q4 2015 17.41 % 12.27 % 7.19 %
Q1 2016 16.58 % 11.26 % 5.51 %
Q2 2016 14.80 % 9.00 % 4.47 %
Q3 2016 15.01 % 8.63 % 4.47 %
Q4 2016 16.08 % 10.44 % 5.58 %
Q1 2017 16.96 % 10.50 % 5.93 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Halala) Adjusted EPS (Halala) Book Value (BV)
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 - - - -
Q4 2012 - - - -
Q1 2013 1,125.00 - - 0.48
Q2 2013 1,125.00 - - 0.46
Q3 2013 1,125.00 - - 0.48
Q4 2013 1,125.00 14.75 14.75 0.48
Q1 2014 1,125.00 15.21 15.14 0.53
Q2 2014 1,125.00 16.77 16.50 0.49
Q3 2014 1,125.00 15.91 16.47 0.50
Q4 2014 1,125.00 15.28 14.69 0.56
Q1 2015 1,125.00 12.90 11.79 0.58
Q2 2015 1,125.00 10.71 9.54 0.54
Q3 2015 1,125.00 10.42 8.45 0.55
Q4 2015 1,125.00 6.25 5.30 0.54
Q1 2016 1,125.00 4.53 4.16 0.54
Q2 2016 1,125.00 3.63 3.52 0.55
Q3 2016 1,125.00 3.72 3.59 0.56
Q4 2016 1,125.00 4.39 4.39 0.57
Q1 2017 1,125.00 4.50 4.50 0.58

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
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 - - -
Q4 2012 - - -
Q1 2013 - - -
Q2 2013 - - -
Q3 2013 - - -
Q4 2013 - - -
Q1 2014 - - -
Q2 2014 - - -
Q3 2014 - - -
Q4 2014 14.57 15.16 4.00
Q1 2015 17.70 19.36 3.92
Q2 2015 20.77 23.32 4.12
Q3 2015 15.94 19.65 3.03
Q4 2015 21.69 25.60 2.52
Q1 2016 21.72 23.67 1.83
Q2 2016 28.18 29.05 1.87
Q3 2016 19.31 20.02 1.29
Q4 2016 22.05 22.05 1.69
Q1 2017 22.18 22.18 1.71

Business Segments (Million)

Compared With The
Period Manufacturing sector services segment
Q1 2013 293.58 11.50
Q4 2013 353.76 17.65
Q1 2014 330.07 16.68
Q2 2014 290.20 15.09
Q3 2014 149.70 14.82
Q4 2014 208.78 21.52
Q1 2015 179.38 21.03
Q2 2015 182.40 14.20
Q3 2015 181.75 9.53
Q4 2015 221.18 19.77
Q1 2016 206.90 13.93
Q2 2016 219.92 13.94
Q3 2016 193.20 13.12
Q4 2016 211.01 12.74
Q1 2017 176.34 12.77


Financial Ratios
Current
Market Cap (M Riyal) 8,865.00
Enterprise Value (EV) (M) 9,082.36
Shares Outstanding ((M)) 1,125.00
EPS (Halala) (TTM) 31.70
Book Value (BV) ( Riyal) 0.75
Par Value ( Halala) 50.00
Adjusted P/E (Last12) 22.92
P/E (TTM) 24.86
Price/book 10.49
Return on Average Assets (%) (TTM) 17.7
Return on Average Equity (%) (TTM) 46.6
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Share Price

Electrical Industries Co.
7.88
(0.18) (2.23 %)

Electrical Industries Co. (EIC)

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