Al-Yamamah Steel nine-month net profit rises 12%
28/07/2016
Argaam Exclusive
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Al-Yamamah Steel Industries Co. reported a net profit of SAR 157 million for the nine-month period ending on June 30, a 12 percent year-on-year (YoY) rise thanks to higher income from steel pipes and rebars, as well as lower cost of goods sold and higher profit margin.
Financials (M)
| Item | 9m 2015 | 9m 2016 | Change |
|---|---|---|---|
| Revenues | 1,692.44 | 1,367.65 | (19.2 %) |
| Gross Income | 236.83 | 282.79 | 19.4 % |
| Operating Income | 182.09 | 217.41 | 19.4 % |
| Net Income | 140.20 | 161.47 | 15.2 % |
| Average Shares | 50.80 | 50.80 | - |
| EPS (Riyals) | 2.76 | 3.18 | 15.2 % |
The steel producer’s Q3 net profit increased 22 percent YoY to SAR 66.4 million and 56 percent when compared to the previous quarter.
Compared With The
Current Quarter Comparison (M)
| Item | Q3 2015 | Q3 2016 | Change |
|---|---|---|---|
| Revenues | 540.78 | 471.48 | (12.8 %) |
| Gross Income | 92.64 | 124.12 | 34.0 % |
| Operating Income | 72.80 | 101.77 | 39.8 % |
| Net Income | 54.50 | 67.88 | 24.6 % |
| Average Shares | 50.80 | 50.80 | - |
| EPS (Riyals) | 1.07 | 1.34 | 24.6 % |
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| Q1 2016 | 435.46 | (13.0 %) | 59.61 | (16.3 %) | 41.69 | (25.3 %) |
| Q2 2016 | 460.60 | (29.2 %) | 97.02 | 32.9 % | 70.85 | 32.6 % |
| Q3 2016 | 471.48 | (12.8 %) | 124.12 | 34.0 % | 101.77 | 39.8 % |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS Before XO Items |
|---|---|---|---|---|---|---|
| Q1 2016 | 34.82 | (21.0 %) | 0.69 | - | 34.82 | 0.69 |
| Q2 2016 | 55.66 | 33.8 % | 1.10 | - | 55.66 | 1.10 |
| Q3 2016 | 67.88 | 24.6 % | 1.34 | (12.31) | 80.19 | 1.58 |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| Q1 2016 | 13.85 % | 12.09 % | 7.65 % |
| Q2 2016 | 16.71 % | 14.44 % | 9.27 % |
| Q3 2016 | 19.25 % | 15.88 % | 11.16 % |
Compared With The
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| Q1 2016 | 50.80 | 2.94 | 2.94 | 11.79 |
| Q2 2016 | 50.80 | 3.22 | 3.22 | 12.89 |
| Q3 2016 | 50.80 | 3.48 | 3.72 | 13.07 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| Q1 2016 | - | - | - |
| Q2 2016 | 10.77 | 10.77 | 2.69 |
| Q3 2016 | 6.67 | 6.24 | 1.78 |
Business Segments (Million)
Q3 2016
| Period | Construction sector | Electricity sector | Pipelines factory | Electric poles factory | Frames factory | Electric power towers factory | Al Yamamah for reinforcing steel bars |
|---|---|---|---|---|---|---|---|
| Q1 2016 | - | - | 103.42 | 51.43 | 3.50 | 54.36 | 222.75 |
| Q2 2016 | - | - | 99.83 | 47.47 | 1.79 | 47.78 | 263.74 |
| Q3 2016 | 391.22 | 80.36 | - | - | - | - | - |
| Current | |
| Market Cap (M Riyal) | 1,615.44 |
| Enterprise Value (EV) (M) | 2,503.68 |
| Shares Outstanding ((M)) | 50.80 |
| EPS ( Riyal) (TTM) | 0.86 |
| Book Value (BV) ( Riyal) | 11.51 |
| Par Value ( Riyal) | 10.00 |
| Adjusted P/E (Last12) | Neg |
| P/E (TTM) | 37.09 |
| Price/book | 2.76 |
| Return on Average Assets (%) (TTM) | 2.2 |
| Return on Average Equity (%) (TTM) | 7.8 |
Share Price
Al Yamamah Steel Industries Co. (ALYAMAMAH STEEL)
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