Arabian Cement posts 49% profit growth to SAR 67 mln in Q1 2021

Arabian Cement posts 49% profit growth to SAR 67 mln in Q1 2021

06/05/2021 Argaam Exclusive

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Arabian Cement Co. reported a rise of 49% in net profit after Zakat and tax to SAR 67 million for the first quarter of 2021, from SAR 45.1 million in the year-ago period.

 

The profit increase was driven by better sales volume and revenue in Arabian Cement and its Jordanian subsidiary, despite a decrease of average selling prices and higher marketing expenses, due to increased export volumes.



Current Quarter Comparison (M)

Compared With The
Item Q1 2020 Q1 2021 Change‬
Revenues 204.60 321.50 57.1 %
Gross Income 71.98 104.13 44.7 %
Operating Income 56.98 78.34 37.5 %
Net Income 45.11 66.96 48.4 %
Average Shares 100.00 100.00 -
EPS (Riyals) 0.45 0.67 48.4 %


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2012 355.12 54.3 % 174.38 30.2 % 151.67 24.7 %
Q2 2012 369.30 21.9 % 173.23 24.4 % 162.44 27.4 %
Q3 2012 337.90 21.7 % 98.58 (21.6 %) 89.92 (21.3 %)
Q4 2012 308.32 15.1 % 91.15 (13.1 %) 77.65 (12.1 %)
Q1 2013 352.30 (0.8 %) 169.10 (3.0 %) 158.45 4.5 %
Q2 2013 373.42 1.1 % 144.75 (16.4 %) 133.89 (17.6 %)
Q3 2013 290.44 (14.0 %) 95.19 (3.4 %) 85.36 (5.1 %)
Q4 2013 348.97 13.2 % 133.24 46.2 % 119.96 54.5 %
Q1 2014 422.47 19.9 % 177.44 4.9 % 166.04 4.8 %
Q2 2014 480.55 28.7 % 227.74 57.3 % 212.95 59.0 %
Q3 2014 386.34 33.0 % 154.24 62.0 % 143.28 67.9 %
Q4 2014 430.23 23.3 % 171.18 28.5 % 153.27 27.8 %
Q1 2015 453.00 7.2 % 234.15 32.0 % 215.07 29.5 %
Q2 2015 446.57 (7.1 %) 189.93 (16.6 %) 173.62 (18.5 %)
Q3 2015 328.00 (15.1 %) 108.56 (29.6 %) 96.81 (32.4 %)
Q4 2015 414.99 (3.5 %) 190.94 11.5 % 172.90 12.8 %
Q1 2016 404.58 (10.7 %) 222.27 (5.1 %) 205.74 (4.3 %)
Q2 2016 363.32 (18.6 %) 162.81 (14.3 %) 146.48 (15.6 %)
Q3 2016 248.89 (24.1 %) 100.83 (7.1 %) 87.85 (9.3 %)
Q4 2016 240.11 (42.1 %) 65.66 (65.6 %) 44.73 (74.1 %)
Q1 2017 272.11 (32.7 %) 113.88 (48.8 %) 98.79 (52.0 %)
Q2 2017 222.37 (38.8 %) 53.01 (67.4 %) 35.15 (76.0 %)
Q3 2017 163.04 (34.5 %) 55.39 (45.1 %) 43.02 (51.0 %)
Q4 2017 248.23 3.4 % 127.19 93.7 % 104.61 133.9 %
Q1 2018 199.75 (26.6 %) 12.81 (88.8 %) (6.07) (106.1 %)
Q2 2018 107.81 (51.5 %) (35.64) (167.2 %) (52.22) (248.6 %)
Q3 2018 117.86 (27.7 %) 42.68 (22.9 %) 25.93 (39.7 %)
Q4 2018 175.30 (29.4 %) 17.99 (85.9 %) 2.33 (97.8 %)
Q1 2019 189.13 (5.3 %) 61.70 381.7 % 48.70 902.6 %
Q2 2019 164.65 52.7 % 64.39 280.6 % 49.62 195.0 %
Q3 2019 193.47 64.1 % 93.50 119.1 % 80.43 210.1 %
Q4 2019 234.72 33.9 % 96.13 434.3 % 78.01 3243.6 %
Q1 2020 204.60 8.2 % 71.98 16.7 % 56.98 17.0 %
Q2 2020 139.56 (15.2 %) 30.95 (51.9 %) 14.94 (69.9 %)
Q3 2020 236.96 22.5 % 102.65 9.8 % 89.45 11.2 %
Q4 2020 290.80 23.9 % 96.95 0.9 % 69.45 (11.0 %)
Q1 2021 321.50 57.1 % 104.13 44.7 % 78.34 37.5 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2012 146.14 26.0 % 1.46 - 146.14 1.46
Q2 2012 71.93 (35.6 %) 0.72 (86.80) 158.73 1.59
Q3 2012 87.03 (17.1 %) 0.87 - 87.03 0.87
Q4 2012 82.33 17.0 % 0.82 - 82.33 0.82
Q1 2013 157.26 7.6 % 1.57 - 157.26 1.57
Q2 2013 124.65 73.3 % 1.25 (14.54) 139.19 1.39
Q3 2013 16.85 (80.6 %) 0.17 (79.34) 96.18 0.96
Q4 2013 (106.67) (229.6 %) (1.07) (212.15) 105.48 1.05
Q1 2014 167.14 6.3 % 1.67 - 167.14 1.67
Q2 2014 199.80 60.3 % 2.00 - 199.80 2.00
Q3 2014 133.94 695.0 % 1.34 - 133.94 1.34
Q4 2014 144.55 235.5 % 1.45 - 144.55 1.45
Q1 2015 195.27 16.8 % 1.95 (15.00) 210.27 2.10
Q2 2015 161.94 (18.9 %) 1.62 - 161.94 1.62
Q3 2015 89.48 (33.2 %) 0.89 - 89.48 0.89
Q4 2015 153.46 6.2 % 1.53 - 153.46 1.53
Q1 2016 225.59 15.5 % 2.26 17.76 207.83 2.08
Q2 2016 141.00 (12.9 %) 1.41 - 141.00 1.41
Q3 2016 97.17 8.6 % 0.97 - 97.17 0.97
Q4 2016 24.05 (84.3 %) 0.24 - 24.05 0.24
Q1 2017 100.66 (55.4 %) 1.01 - 100.66 1.01
Q2 2017 35.52 (74.8 %) 0.36 - 35.52 0.36
Q3 2017 29.51 (69.6 %) 0.30 - 29.51 0.30
Q4 2017 97.04 303.5 % 0.97 - 97.04 0.97
Q1 2018 (6.10) (106.1 %) (0.06) - (6.10) (0.06)
Q2 2018 (50.89) (243.3 %) (0.51) - (50.89) (0.51)
Q3 2018 14.42 (51.1 %) 0.14 - 14.42 0.14
Q4 2018 16.31 (83.2 %) 0.16 - 16.31 0.16
Q1 2019 37.15 708.9 % 0.37 - 37.15 0.37
Q2 2019 37.34 173.4 % 0.37 - 37.34 0.37
Q3 2019 60.60 320.4 % 0.61 - 60.60 0.61
Q4 2019 73.63 351.5 % 0.74 0.65 72.98 0.73
Q1 2020 45.11 21.4 % 0.45 - 45.11 0.45
Q2 2020 7.61 (79.6 %) 0.08 - 7.61 0.08
Q3 2020 78.90 30.2 % 0.79 - 78.90 0.79
Q4 2020 53.33 (27.6 %) 0.53 - 53.33 0.53
Q1 2021 66.96 48.4 % 0.67 - 66.96 0.67

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2012 45.22 % 55.28 % 36.12 %
Q2 2012 45.53 % 53.52 % 37.93 %
Q3 2012 41.43 % 48.18 % 34.87 %
Q4 2012 39.20 % 48.50 % 34.60 %
Q1 2013 38.90 % 48.96 % 35.48 %
Q2 2013 36.71 % 48.19 % 33.95 %
Q3 2013 37.77 % 50.58 % 35.86 %
Q4 2013 39.72 % 49.70 % 36.49 %
Q1 2014 38.36 % 47.67 % 35.39 %
Q2 2014 41.08 % 49.41 % 36.86 %
Q3 2014 42.28 % 49.87 % 37.01 %
Q4 2014 42.49 % 49.49 % 37.53 %
Q1 2015 44.99 % 51.54 % 39.34 %
Q2 2015 43.67 % 50.08 % 37.92 %
Q3 2015 42.46 % 49.00 % 36.57 %
Q4 2015 44.05 % 50.66 % 37.45 %
Q1 2016 44.64 % 51.42 % 38.43 %
Q2 2016 45.31 % 52.52 % 39.17 %
Q3 2016 47.27 % 54.86 % 41.87 %
Q4 2016 43.88 % 52.01 % 37.40 %
Q1 2017 39.41 % 48.35 % 32.27 %
Q2 2017 33.90 % 43.39 % 26.17 %
Q3 2017 32.08 % 41.88 % 21.14 %
Q4 2017 38.58 % 47.57 % 29.01 %
Q1 2018 29.81 % 38.88 % 18.71 %
Q2 2018 22.22 % 33.28 % 9.68 %
Q3 2018 21.83 % 33.24 % 8.08 %
Q4 2018 6.30 % 20.29 % (4.37 %)
Q1 2019 14.70 % 29.90 % 2.88 %
Q2 2019 28.87 % 41.98 % 16.26 %
Q3 2019 32.88 % 44.20 % 20.95 %
Q4 2019 40.37 % 50.31 % 26.61 %
Q1 2020 40.88 % 49.84 % 27.09 %
Q2 2020 37.88 % 47.54 % 24.12 %
Q3 2020 36.98 % 46.35 % 25.08 %
Q4 2020 34.70 % 42.61 % 21.21 %
Q1 2021 33.85 % 39.96 % 20.91 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2012 100.00 4.33 4.35 29.03
Q2 2012 100.00 3.93 4.82 27.50
Q3 2012 100.00 3.75 4.64 28.35
Q4 2012 100.00 3.87 4.74 29.19
Q1 2013 100.00 3.99 4.85 30.77
Q2 2013 100.00 4.51 4.66 30.48
Q3 2013 100.00 3.81 4.75 29.71
Q4 2013 100.00 1.92 4.98 28.71
Q1 2014 100.00 2.02 5.08 30.36
Q2 2014 100.00 2.77 5.69 31.03
Q3 2014 100.00 3.94 6.06 30.57
Q4 2014 100.00 6.45 6.45 31.92
Q1 2015 100.00 6.74 6.89 33.57
Q2 2015 100.00 6.36 6.51 31.99
Q3 2015 100.00 5.91 6.06 30.44
Q4 2015 100.00 6.00 6.15 31.84
Q1 2016 100.00 6.30 6.13 34.16
Q2 2016 100.00 6.10 5.92 33.14
Q3 2016 100.00 6.17 5.99 31.85
Q4 2016 100.00 4.88 4.70 32.51
Q1 2017 100.00 3.63 3.63 33.08
Q2 2017 100.00 2.57 2.57 31.25
Q3 2017 100.00 1.90 1.90 30.48
Q4 2017 100.00 2.63 2.63 29.49
Q1 2018 100.00 1.56 1.56 29.46
Q2 2018 100.00 0.70 0.70 27.74
Q3 2018 100.00 0.54 0.54 27.75
Q4 2018 100.00 (0.26) (0.26) 27.91
Q1 2019 100.00 0.17 0.17 28.47
Q2 2019 100.00 1.05 1.05 27.91
Q3 2019 100.00 1.51 1.51 27.93
Q4 2019 100.00 2.09 2.08 28.83
Q1 2020 100.00 2.17 2.16 29.07
Q2 2020 100.00 1.87 1.86 28.14
Q3 2020 100.00 2.05 2.05 28.24
Q4 2020 100.00 1.85 1.85 28.73
Q1 2021 100.00 2.07 2.07 29.87

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2012 10.71 10.67 1.60
Q2 2012 11.34 9.26 1.62
Q3 2012 11.03 8.93 1.46
Q4 2012 10.32 8.43 1.37
Q1 2013 11.34 9.31 1.47
Q2 2013 12.01 11.64 1.78
Q3 2013 14.64 11.75 1.88
Q4 2013 26.76 10.32 1.79
Q1 2014 32.58 12.95 2.17
Q2 2014 25.35 12.35 2.26
Q3 2014 21.56 14.02 2.78
Q4 2014 12.02 12.02 2.43
Q1 2015 11.19 10.94 2.24
Q2 2015 11.91 11.64 2.37
Q3 2015 9.49 9.26 1.84
Q4 2015 7.93 7.73 1.49
Q1 2016 7.24 7.45 1.34
Q2 2016 8.38 8.63 1.54
Q3 2016 6.22 6.40 1.20
Q4 2016 9.16 9.51 1.37
Q1 2017 10.47 10.47 1.15
Q2 2017 13.99 13.99 1.15
Q3 2017 17.84 17.84 1.11
Q4 2017 13.07 13.07 1.16
Q1 2018 22.71 22.71 1.20
Q2 2018 42.41 42.41 1.06
Q3 2018 35.99 35.99 0.71
Q4 2018 NEG NEG 0.80
Q1 2019 More than 100 More than 100 0.89
Q2 2019 24.71 24.71 0.93
Q3 2019 22.46 22.46 1.22
Q4 2019 17.63 17.69 1.28
Q1 2020 11.54 11.57 0.86
Q2 2020 14.09 14.14 0.94
Q3 2020 15.83 15.89 1.15
Q4 2020 19.93 19.93 1.28
Q1 2021 21.04 21.04 1.46

Analysts Estimates (Million)

Item Q1 2021 (e) Q1 2021 (a) Change‬
Average 53.20 66.96 25.86 %

Estimates vs Actual (Million)

Item Q1 2021 (e) Q1 2021 (a) Change
OSOOL AND BAKHEET 68.00 66.96 (1.5) %
SNB Capital 53.00 66.96 26.3 %
AlJazira Capital 48.80 66.96 37.2 %
Al Rajhi Capital 43.00 66.96 55.7 %


Financial Ratios
Current
Market Cap (M Riyal) 2,680.00
Enterprise Value (EV) (M) 2,793.41
Shares Outstanding ((M)) 100.00
EPS ( Riyal) (TTM) 1.62
Book Value (BV) ( Riyal) 25.35
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 18.60
P/E (TTM) 16.58
Price/book 1.06
Return on Average Assets (%) (TTM) 5.2
Return on Average Equity (%) (TTM) 6.4
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Share Price

Arabian Cement Co.
26.80
(0.20) (0.74 %)

Arabian Cement Co. (ACC)

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