Ash-Sharqiyah Development’s 2014 net loss down 55% to SAR 2.5 mln

Ash-Sharqiyah Development’s 2014 net loss down 55% to SAR 2.5 mln

15/01/2015 Argaam Exclusive

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Ash-sharqiyah Development Company, a producer of agriculture and dairy products, reported 2014 net loss of SAR 2.5 million, compared to a net loss of SAR 5.6 million for last year.

A net profit of SAR 0.2 million was reported for Q4-2014 compared to a loss of SAR 0.2 million for Q3.



Financials (M)

Item 2013 2014 Change‬
Revenues 17.64 19.42 10.1 %
Gross Income (1.90) 1.17 161.3 %
Operating Income (7.88) (4.31) 45.4 %
Net Income (5.57) (2.48) 55.6 %
Average Shares 19.65 19.65 -
EPS (Riyals) (0.28) (0.13) 55.6 %

 

The company attributed the 2014’s net loss, compared to the previous year, to the increase of sales by SAR 1.3 million (seven percent) and the decline of operating expenses by SAR 1.9 million (17 percent).

 

Reporting a net profit for Q4-2014, compared to a net loss for the same period last year, was attributed to the increase of sales by SAR 2.5 million (60 percent) and the decline of operating expenses by 39 percent driven by the efficient use of the company’s resources.

 

Reporting a net profit for Q4-2014, compared to a net loss for the previous period (Q3-2014), was attributed to the increase of sales by SAR 2.8 million (70 percent) and the decline of operating expenses by seven percent



Current Quarter Comparison (M)

Compared With The
Item Q4 2013 Q4 2014 Change‬
Revenues 3.76 6.80 81.0 %
Gross Income (0.82) 1.11 236.7 %
Operating Income (2.42) (0.41) 82.9 %
Net Income (0.94) 0.22 122.8 %
Average Shares 19.65 19.65 -
EPS (Riyals) (0.05) 0.01 122.8 %


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2005 8.84 34.5 % (1.23) (35.4 %) (2.10) (24.9 %)
Q2 2005 13.42 109.2 % 2.06 (15.0 %) 1.04 (43.5 %)
Q3 2005 13.81 100.4 % 2.62 498.9 % 1.68 33.2 %
Q4 2005 19.41 101.8 % 4.22 77.4 % 1.74 375.0 %
Q1 2006 9.50 7.5 % (1.69) (38.0 %) (2.58) (22.8 %)
Q2 2006 13.25 (1.3 %) 4.53 120.2 % 3.66 251.8 %
Q3 2006 16.85 22.0 % 7.25 176.4 % 5.82 246.5 %
Q4 2006 13.62 (29.9 %) (0.05) (101.1 %) (1.45) (183.8 %)
Q1 2007 9.25 (2.6 %) (2.17) (28.4 %) (2.91) (12.9 %)
Q2 2007 10.14 (23.5 %) 1.58 (65.2 %) 0.36 (90.2 %)
Q3 2007 10.55 (37.4 %) 3.42 (52.8 %) 2.36 (59.4 %)
Q4 2007 24.35 78.9 % 6.15 13178.7 % 4.05 378.5 %
Q1 2008 13.43 45.1 % (1.05) 51.7 % (2.18) 25.0 %
Q2 2008 10.58 4.3 % 3.06 93.7 % 1.06 194.7 %
Q3 2008 14.29 35.4 % 1.74 (49.1 %) 0.06 (97.3 %)
Q4 2008 13.03 (46.5 %) (6.06) (198.5 %) (10.05) (348.2 %)
Q1 2009 8.93 (33.5 %) 0.63 160.0 % (0.56) 74.2 %
Q2 2009 8.99 (15.0 %) 1.69 (44.5 %) 0.20 (81.0 %)
Q3 2009 7.49 (47.6 %) (0.40) (122.9 %) (1.46) (2384.4 %)
Q4 2009 6.83 (47.6 %) (0.37) 93.9 % (2.25) 77.6 %
Q1 2010 8.61 (3.6 %) (1.71) (371.9 %) (3.04) (440.9 %)
Q2 2010 9.66 7.5 % 0.86 (49.2 %) (0.33) (263.0 %)
Q3 2010 7.60 1.4 % 1.51 479.4 % 0.24 116.6 %
Q4 2010 9.56 40.1 % (0.66) (77.8 %) (2.12) 5.9 %
Q1 2011 9.05 5.1 % 0.67 139.2 % (0.62) 79.7 %
Q2 2011 9.98 3.3 % 0.15 (82.8 %) (1.10) (235.9 %)
Q3 2011 4.44 (41.6 %) (1.38) (191.1 %) (2.51) (1132.5 %)
Q4 2011 5.72 (40.2 %) (2.13) (223.9 %) (4.61) (117.7 %)
Q1 2012 7.79 (13.9 %) (2.51) (474.0 %) (3.45) (458.9 %)
Q2 2012 7.32 (26.7 %) (0.86) (680.4 %) (2.41) (120.4 %)
Q3 2012 4.72 6.3 % (0.92) 33.5 % (1.94) 22.7 %
Q4 2012 0.72 (87.3 %) 0.69 132.1 % (1.05) 77.3 %
Q1 2013 5.22 (33.0 %) (1.79) 28.5 % (2.57) 25.7 %
Q2 2013 4.81 (34.3 %) (0.02) 97.6 % (1.29) 46.7 %
Q3 2013 3.85 (18.4 %) (0.05) 94.4 % (1.52) 21.8 %
Q4 2013 3.76 419.1 % (0.82) (219.0 %) (2.42) (130.9 %)
Q1 2014 4.25 (18.5 %) (0.26) 85.7 % (1.54) 40.1 %
Q2 2014 4.36 (9.3 %) (0.38) (1,709.5 %) (1.43) (10.9 %)
Q3 2014 4.00 3.9 % 0.36 798.0 % (0.93) 38.7 %
Q4 2014 6.80 81.0 % 1.11 236.7 % (0.41) 82.9 %
2014 19.42 10.1 % 1.17 161.3 % (4.31) 45.4 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2005 (0.82) 47.0 % (0.04) - (0.82) (0.04)
Q2 2005 6.35 270.4 % 0.32 - 6.35 0.32
Q3 2005 2.03 61.0 % 0.10 - 2.03 0.10
Q4 2005 2.93 563.5 % 0.15 - 2.93 0.15
Q1 2006 (1.87) (126.9 %) (0.09) - (1.87) (0.09)
Q2 2006 1.63 (74.3 %) 0.08 - 1.63 0.08
Q3 2006 4.61 126.9 % 0.23 - 4.61 0.23
Q4 2006 (3.88) (232.3 %) (0.20) - (3.88) (0.20)
Q1 2007 (3.06) (64.0 %) (0.16) - (3.06) (0.16)
Q2 2007 (0.08) (105.1 %) 0.00 - (0.08) 0.00
Q3 2007 2.15 (53.3 %) 0.11 - 2.15 0.11
Q4 2007 3.53 191.0 % 0.18 - 3.53 0.18
Q1 2008 (2.48) 18.9 % (0.13) - (2.48) (0.13)
Q2 2008 (0.89) (966.3 %) (0.05) - (0.89) (0.05)
Q3 2008 (0.43) (119.9 %) (0.02) - (0.43) (0.02)
Q4 2008 (8.65) (344.8 %) (0.44) - (8.65) (0.44)
Q1 2009 (0.80) 67.9 % (0.04) - (0.80) (0.04)
Q2 2009 (0.10) 88.2 % (0.01) - (0.10) (0.01)
Q3 2009 (1.97) (359.0 %) (0.10) - (1.97) (0.10)
Q4 2009 (1.94) 77.6 % (0.10) - (1.94) (0.10)
Q1 2010 (3.02) (279.6 %) (0.15) - (3.02) (0.15)
Q2 2010 (0.27) (163.5 %) (0.01) - (0.27) (0.01)
Q3 2010 0.31 115.5 % 0.02 - 0.31 0.02
Q4 2010 (2.10) (8.3 %) (0.11) - (2.10) (0.11)
Q1 2011 0.27 109.0 % 0.01 - 0.27 0.01
Q2 2011 (1.07) (291.6 %) (0.05) - (1.07) (0.05)
Q3 2011 (2.46) (906.6 %) (0.13) - (2.46) (0.13)
Q4 2011 (5.95) (182.8 %) (0.30) - (5.95) (0.30)
Q1 2012 2.59 848.4 % 0.13 - 2.59 0.13
Q2 2012 (2.39) (122.7 %) (0.12) - (2.39) (0.12)
Q3 2012 (1.85) 24.6 % (0.09) - (1.85) (0.09)
Q4 2012 (1.71) 71.2 % (0.09) 5.29 (7.00) (0.36)
Q1 2013 (1.76) (168.0 %) (0.09) - (1.76) (0.09)
Q2 2013 (1.35) 43.5 % (0.07) (0.07) (1.28) (0.07)
Q3 2013 (1.52) 18.2 % (0.08) - (1.52) (0.08)
Q4 2013 (0.94) 44.9 % (0.05) (0.69) (0.26) (0.01)
Q1 2014 (1.53) 12.9 % (0.08) - (1.53) (0.08)
Q2 2014 (0.96) 29.2 % (0.05) - (0.96) (0.05)
Q3 2014 (0.20) 87.1 % (0.01) 0.19 (0.39) (0.02)
Q4 2014 0.22 122.8 % 0.01 0.53 (0.31) (0.02)
2014 (2.48) 55.6 % (0.13) 0.72 (3.20) (0.16)

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2005 12.63 % 22.84 % 4.79 %
Q2 2005 9.41 % 12.83 % 15.88 %
Q3 2005 12.77 % 13.64 % 15.16 %
Q4 2005 13.83 % 21.31 % 18.91 %
Q1 2006 12.83 % 23.10 % 16.83 %
Q2 2006 17.29 % 35.85 % 8.45 %
Q3 2006 24.24 % 41.38 % 12.39 %
Q4 2006 18.87 % 38.93 % 0.93 %
Q1 2007 18.05 % 32.54 % (1.32 %)
Q2 2007 13.26 % 36.69 % (4.84 %)
Q3 2007 6.38 % 32.85 % (11.18 %)
Q4 2007 16.52 % 44.79 % 4.69 %
Q1 2008 17.26 % 42.08 % 5.34 %
Q2 2008 19.65 % 27.78 % 3.94 %
Q3 2008 15.79 % 27.39 % (0.42 %)
Q4 2008 (4.50 %) 40.90 % (24.25 %)
Q1 2009 (1.35 %) 51.07 % (22.98 %)
Q2 2009 (4.40 %) 53.86 % (22.06 %)
Q3 2009 (10.75 %) 53.10 % (29.97 %)
Q4 2009 4.82 % 20.29 % (14.92 %)
Q1 2010 (2.46 %) 15.69 % (22.05 %)
Q2 2010 (4.97 %) 12.26 % (22.11 %)
Q3 2010 0.90 % 17.50 % (15.08 %)
Q4 2010 0.02 % 18.31 % (14.38 %)
Q1 2011 6.66 % 23.05 % (5.02 %)
Q2 2011 4.63 % 23.66 % (7.18 %)
Q3 2011 (3.69 %) 15.39 % (16.24 %)
Q4 2011 (9.23 %) 8.39 % (31.54 %)
Q1 2012 (21.01 %) (3.09 %) (24.67 %)
Q2 2012 (27.22 %) (12.99 %) (32.49 %)
Q3 2012 (25.11 %) (7.97 %) (29.76 %)
Q4 2012 (17.51 %) 3.30 % (42.11 %)
Q1 2013 (16.04 %) 8.30 % (72.32 %)
Q2 2013 (13.22 %) 10.41 % (76.86 %)
Q3 2013 (8.07 %) 19.66 % (79.13 %)
Q4 2013 (15.19 %) 8.06 % (27.29 %)
Q1 2014 (6.86 %) 13.52 % (27.51 %)
Q2 2014 (9.26 %) 16.90 % (26.28 %)
Q3 2014 (6.69 %) 6.58 % (19.15 %)
Q4 2014 4.29 % 19.21 % (16.44 %)
2014 6.01 % 19.21 % (16.48 %)


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2005 19.65 0.08 0.08 5.18
Q2 2005 19.65 0.31 0.31 5.50
Q3 2005 19.65 0.35 0.35 5.60
Q4 2005 19.65 0.53 0.53 5.75
Q1 2006 19.65 0.48 0.48 5.66
Q2 2006 19.65 0.24 0.24 5.74
Q3 2006 19.65 0.37 0.37 5.98
Q4 2006 19.65 0.03 0.03 5.78
Q1 2007 19.65 (0.04) (0.04) 5.62
Q2 2007 19.65 (0.12) (0.12) 5.62
Q3 2007 19.65 (0.25) (0.25) 5.73
Q4 2007 19.65 0.13 0.13 5.91
Q1 2008 19.65 0.16 0.16 5.78
Q2 2008 19.65 0.12 0.12 5.74
Q3 2008 19.65 (0.01) (0.01) 5.71
Q4 2008 19.65 (0.63) (0.63) 5.27
Q1 2009 19.65 (0.55) (0.55) 4.51
Q2 2009 19.65 (0.51) (0.51) 4.51
Q3 2009 19.65 (0.59) (0.59) 4.41
Q4 2009 19.65 (0.24) (0.24) 4.31
Q1 2010 19.65 (0.36) (0.36) 4.15
Q2 2010 19.65 (0.37) (0.37) 4.14
Q3 2010 19.65 (0.25) (0.25) 4.16
Q4 2010 19.65 (0.26) (0.26) 4.05
Q1 2011 19.65 (0.09) (0.09) 4.06
Q2 2011 19.65 (0.13) (0.13) 4.01
Q3 2011 19.65 (0.27) (0.27) 3.88
Q4 2011 19.65 (0.47) (0.47) 3.58
Q1 2012 19.65 (0.35) (0.35) 3.71
Q2 2012 19.65 (0.42) (0.42) 3.59
Q3 2012 19.65 (0.39) (0.39) 3.50
Q4 2012 19.65 (0.17) (0.44) 3.41
Q1 2013 19.65 (0.39) (0.66) 3.32
Q2 2013 19.65 (0.34) (0.61) 3.25
Q3 2013 19.65 (0.32) (0.59) 3.17
Q4 2013 19.65 (0.28) (0.24) 3.12
Q1 2014 19.65 (0.27) (0.23) 3.05
Q2 2014 19.65 (0.25) (0.22) 3.00
Q3 2014 19.65 (0.18) (0.16) 2.99
Q4 2014 19.65 (0.13) (0.16) 3.00

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2005 More than 100 More than 100 2.38
Q2 2005 52.48 52.48 2.99
Q3 2005 88.65 88.65 5.58
Q4 2005 92.68 92.68 8.60
Q1 2006 80.49 80.49 6.84
Q2 2006 More than 100 More than 100 11.96
Q3 2006 More than 100 More than 100 14.68
Q4 2006 More than 100 More than 100 5.65
Q1 2007 NEG NEG 8.19
Q2 2007 NEG NEG 6.82
Q3 2007 NEG NEG 7.15
Q4 2007 More than 100 More than 100 6.31
Q1 2008 More than 100 More than 100 3.98
Q2 2008 More than 100 More than 100 3.91
Q3 2008 NEG NEG 1.87
Q4 2008 NEG NEG 1.97
Q1 2009 NEG NEG 3.00
Q2 2009 NEG NEG 6.89
Q3 2009 NEG NEG 6.51
Q4 2009 NEG NEG 5.13
Q1 2010 NEG NEG 4.95
Q2 2010 NEG NEG 4.91
Q3 2010 NEG NEG 5.01
Q4 2010 NEG NEG 5.74
Q1 2011 NEG NEG 5.62
Q2 2011 NEG NEG 5.29
Q3 2011 NEG NEG 6.40
Q4 2011 NEG NEG 13.31
Q1 2012 NEG NEG 8.91
Q2 2012 NEG NEG 7.01
Q3 2012 NEG NEG 8.55
Q4 2012 NEG NEG 9.92
Q1 2013 NEG NEG 9.84
Q2 2013 NEG NEG 10.58
Q3 2013 NEG NEG 11.99
Q4 2013 NEG NEG 10.31
Q1 2014 NEG NEG 12.20
Q2 2014 NEG NEG 15.45
Q3 2014 NEG NEG 21.44
Q4 2014 NEG NEG 14.15

Current
Market Cap (M Riyal) 575.40
Enterprise Value (EV) (M) 397.85
Shares Outstanding ((M)) 30.00
EPS ( Riyal) (TTM) 0.35
Book Value (BV) ( Riyal) 12.49
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) More than 100
P/E (TTM) More than 100
Price/book 1.54
Return on Average Assets (%) (TTM) 2.5
Return on Average Equity (%) (TTM) 2.9

Share Price

19.18
(0.12) (0.62 %)

Ash-Sharqiyah Development Co. (SHARQIYAH DEV)


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