MEPCO’s profit up to SAR 88.4 mln in first 9 months of 2014
23/03/2015
Argaam Exclusive
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Middle East Paper Company (MEPCO) reported a net profit of SAR 88.4 million for the nine months ending Sept. 30, 2014, a 36 percent increase compared to the same period the previous year.
Financials (M)
| Item | 9m 2013 | 9m 2014 | Change |
|---|---|---|---|
| Revenues | 571.81 | 623.92 | 9.1 % |
| Gross Income | 153.10 | 181.30 | 18.4 % |
| Operating Income | 91.87 | 110.11 | 19.9 % |
| Net Income | 65.52 | 88.43 | 35.0 % |
| Average Shares | 66.67 | 66.67 | - |
| EPS (Riyals) | 0.98 | 1.33 | 35.0 % |
The increase was attributed to the growth of sales and profit margin compared to the same period in 2013.
MEPCO, the Middle East's largest manufacturer of cardboards and industrial paper, is preparing to offer 15 million shares, or 30 percent of its capital public in Saudi's market in April.
Compared With The
Current Quarter Comparison (M)
| Item | Q3 2013 | Q3 2014 | Change |
|---|---|---|---|
| Revenues | 200.50 | 219.60 | 9.5 % |
| Gross Income | 61.21 | 68.98 | 12.7 % |
| Operating Income | 41.72 | 43.91 | 5.3 % |
| Net Income | 31.50 | 36.35 | 15.4 % |
| Average Shares | 66.67 | 66.67 | - |
| EPS (Riyals) | 0.47 | 0.55 | 15.4 % |
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| Q1 2014 | 200.96 | 14.3 % | 52.97 | 28.3 % | 29.65 | 44.0 % |
| Q2 2014 | 203.05 | 3.9 % | 59.04 | 16.7 % | 36.78 | 24.4 % |
| Q3 2014 | 219.60 | 9.5 % | 68.98 | 12.7 % | 43.91 | 5.3 % |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS Before XO Items |
|---|---|---|---|---|---|---|
| Q1 2014 | 22.83 | 102.7 % | 0.34 | - | 22.83 | 0.34 |
| Q2 2014 | 29.26 | 28.6 % | 0.44 | - | 29.26 | 0.44 |
| Q3 2014 | 36.35 | 15.4 % | 0.55 | - | 36.35 | 0.55 |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| Q1 2014 | 27.46 % | 27.05 % | 12.69 % |
| Q2 2014 | 28.26 % | 28.06 % | 13.39 % |
| Q3 2014 | 28.55 % | 28.01 % | 13.67 % |
Compared With The
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| Q1 2014 | 66.67 | 1.49 | 1.49 | 8.33 |
| Q2 2014 | 66.67 | 1.59 | 1.59 | 8.15 |
| Q3 2014 | 66.67 | 1.66 | 1.66 | 8.70 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| Q1 2014 | - | - | - |
| Q2 2014 | - | - | - |
| Q3 2014 | - | - | - |
Business Segments (Million)
Q3 2014
| Period | The industrial sector | The commercial sector | Disposals |
|---|---|---|---|
| Q1 2014 | 189.39 | 64.27 | (52.69) |
| Q2 2014 | 186.73 | 82.23 | (65.90) |
| Q3 2014 | 204.13 | 83.05 | (67.58) |
| Current | |
| Market Cap (M Riyal) | 3,232.79 |
| Enterprise Value (EV) (M) | 3,254.80 |
| Shares Outstanding ((M)) | 86.67 |
| EPS ( Riyal) (TTM) | (0.79) |
| Book Value (BV) ( Riyal) | 19.07 |
| Par Value ( Riyal) | 10.00 |
| Adjusted P/E (Last12) | Neg |
| P/E (TTM) | NEG |
| Price/book | 1.96 |
| Return on Average Assets (%) (TTM) | (3.01 ) |
| Return on Average Equity (%) (TTM) | (4.96 ) |
Share Price
Middle East Paper Co. (MEPCO)
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