National Building net profit drops 1% in 9M 2018
02/12/2018
Argaam Exclusive
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National Building and Marketing Co. reported a net profit of SAR 20.1 million for the first nine months of 2018, down 1.1 percent year-on-year (YoY) on higher financing charges and lower investment income.
Financials (M)
| Item | 9m 2017 | 9m 2018 | Change |
|---|---|---|---|
| Revenues | 121.55 | 120.58 | (0.8 %) |
| Gross Income | 22.08 | 23.08 | 4.5 % |
| Operating Income | 16.76 | 18.39 | 9.7 % |
| Net Income | 20.35 | 20.13 | (1.1 %) |
| Average Shares | 12.00 | 12.00 | - |
| EPS (Riyals) | 1.70 | 1.68 | (1.1 %) |
Net profit in Q3 fell 16.2 percent YoY to SAR 7.7 million due to higher cost, and higher marketing, general and administrative expenses.
When compared to the previous quarter, net profit jumped 57 percent on higher sales.
Compared With The
Current Quarter Comparison (M)
| Item | Q3 2017 | Q3 2018 | Change |
|---|---|---|---|
| Revenues | 40.30 | 40.06 | (0.6 %) |
| Gross Income | 7.39 | 6.70 | (9.4 %) |
| Operating Income | 5.54 | 4.85 | (12.4 %) |
| Net Income | 9.14 | 7.66 | (16.2 %) |
| Average Shares | 12.00 | 12.00 | - |
| EPS (Riyals) | 0.76 | 0.64 | (16.2 %) |
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Net Income | Change | EPS(Riyal) |
|---|---|---|---|---|---|---|---|
| Q1 2018 | 42.97 | 3.1 % | 9.78 | 7.7 % | 7.31 | (9.4 %) | 0.61 |
| Q2 2018 | 37.54 | (5.1 %) | 6.60 | 17.7 % | 5.17 | 64.2 % | 0.43 |
| Q3 2018 | 40.06 | (0.6 %) | 6.70 | (9.4 %) | 7.66 | (16.2 %) | 0.64 |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| Q1 2018 | 15.66 % | 13.15 % | 15.35 % |
| Q2 2018 | 16.44 % | 14.63 % | 16.74 % |
| Q3 2018 | 16.05 % | 14.63 % | 15.87 % |
Compared With The
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| Q1 2018 | 12.00 | 2.17 | 2.17 | 8.91 |
| Q2 2018 | 12.00 | 2.34 | 2.34 | 8.54 |
| Q3 2018 | 12.00 | 2.21 | 2.21 | 9.09 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| Q1 2018 | - | - | - |
| Q2 2018 | 9.41 | 9.41 | 2.58 |
| Q3 2018 | 9.94 | 9.94 | 2.42 |
| Current | |
| Market Cap (M Riyal) | 2,592.00 |
| Enterprise Value (EV) (M) | 2,961.37 |
| Shares Outstanding ((M)) | 12.00 |
| Book Value (BV) ( Riyal) | 24.65 |
| Par Value ( Riyal) | 10.00 |
| Adjusted P/E (Last12) | More than 100 |
| Price/book | 8.76 |
Share Price
National Building and Marketing Co. (NBM)
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