Southern Province Cement’s Q1 profit up 6 % to SAR 283 mln

Southern Province Cement’s Q1 profit up 6 % to SAR 283 mln

19/04/2016 Argaam Exclusive

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Southern Province Cement Co. reported a net profit of SAR 283 million for the first quarter of 2016, a 6.4 percent increase year-on-year (YoY), mainly due to lower cost of sales and a drop in G&A expenses.

 

Net profit for the period was down by 5 percent when compared to the previous quarter due to the higher fuel prices.



Current Quarter Comparison (M)

Compared With The
Item Q1 2015 Q1 2016 Change‬
Revenues 558.97 549.33 (1.7 %)
Gross Income 290.50 302.56 4.2 %
Operating Income 271.23 287.23 5.9 %
Net Income 266.00 283.20 6.5 %
Average Shares 140.00 140.00 -
EPS (Riyals) 1.90 2.02 6.5 %


Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Riyal)
Q1 2007 272.27 7.3 % 164.43 5.8 % 158.91 2.2 % 1.14
Q2 2007 303.43 13.8 % 190.90 15.4 % 192.53 14.8 % 1.38
Q3 2007 310.90 16.3 % 205.97 24.2 % 197.61 19.8 % 1.41
Q4 2007 268.32 12.5 % 160.25 9.7 % 154.84 13.8 % 1.11
Q1 2008 376.54 38.3 % 242.78 47.6 % 234.64 47.7 % 1.68
Q2 2008 376.55 24.1 % 227.67 19.3 % 230.49 19.7 % 1.65
Q3 2008 288.56 (7.2 %) 163.16 (20.8 %) 149.40 (24.4 %) 1.07
Q4 2008 256.26 (4.5 %) 123.10 (23.2 %) 176.54 14.0 % 1.26
Q1 2009 362.12 (3.8 %) 213.85 (11.9 %) 200.17 (14.7 %) 1.43
Q2 2009 361.61 (4.0 %) 215.32 (5.4 %) 212.15 (8.0 %) 1.52
Q3 2009 289.73 0.4 % 155.02 (5.0 %) 140.56 (5.9 %) 1.00
Q4 2009 304.92 19.0 % 182.92 48.6 % 180.71 2.4 % 1.29
Q1 2010 353.22 (2.5 %) 205.63 (3.8 %) 189.63 (5.3 %) 1.35
Q2 2010 358.99 (0.7 %) 191.61 (11.0 %) 185.18 (12.7 %) 1.32
Q3 2010 276.99 (4.4 %) 132.67 (14.4 %) 118.90 (15.4 %) 0.85
Q4 2010 319.92 4.9 % 179.63 (1.8 %) 164.80 (8.8 %) 1.18
Q1 2011 436.85 23.7 % 241.21 17.3 % 225.88 19.1 % 1.61
Q2 2011 444.37 23.8 % 251.72 31.4 % 239.08 29.1 % 1.71
Q3 2011 355.11 28.2 % 197.22 48.6 % 179.78 51.2 % 1.28
Q4 2011 454.74 42.1 % 266.85 48.6 % 251.00 52.3 % 1.79
Q1 2012 497.81 14.0 % 300.74 24.7 % 284.33 25.9 % 2.03
Q2 2012 474.15 6.7 % 269.36 7.0 % 261.73 9.5 % 1.87
Q3 2012 354.18 (0.3 %) 205.74 4.3 % 200.39 11.5 % 1.43
Q4 2012 479.13 5.4 % 275.07 3.1 % 253.76 1.1 % 1.81
Q1 2013 486.72 (2.2 %) 283.22 (5.8 %) 268.75 (5.5 %) 1.92
Q2 2013 508.93 7.3 % 308.04 14.4 % 297.21 13.6 % 2.12
Q3 2013 368.15 3.9 % 200.86 (2.4 %) 186.61 (6.9 %) 1.33
Q4 2013 411.34 (14.1 %) 220.73 (19.8 %) 253.52 (0.1 %) 1.81
Q1 2014 495.41 1.8 % 239.68 (15.4 %) 221.01 (17.8 %) 1.58
Q2 2014 516.76 1.5 % 304.39 (1.2 %) 294.20 (1.0 %) 2.10
Q3 2014 377.67 2.6 % 186.58 (7.1 %) 284.92 52.7 % 2.04
Q4 2014 488.51 18.8 % 264.49 19.8 % 245.30 (3.2 %) 1.75
Q1 2015 558.97 12.8 % 290.50 21.2 % 266.00 20.4 % 1.90
Q2 2015 531.85 2.9 % 281.81 (7.4 %) 270.35 (8.1 %) 1.93
Q3 2015 418.90 10.9 % 215.84 15.7 % 202.21 (29.0 %) 1.44
Q4 2015 537.56 10.0 % 321.20 21.4 % 300.05 22.3 % 2.14
Q1 2016 549.33 (1.7 %) 302.56 4.2 % 283.20 6.5 % 2.02

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2007 61.43 % 66.45 % 60.08 %
Q2 2007 61.69 % 66.32 % 60.33 %
Q3 2007 62.87 % 67.18 % 60.90 %
Q4 2007 62.48 % 66.39 % 60.95 %
Q1 2008 63.52 % 69.96 % 61.91 %
Q2 2008 62.80 % 69.76 % 61.36 %
Q3 2008 60.60 % 68.19 % 58.73 %
Q4 2008 58.30 % 66.56 % 60.95 %
Q1 2009 56.70 % 63.26 % 58.95 %
Q2 2009 56.40 % 63.11 % 58.20 %
Q3 2009 55.71 % 62.71 % 57.45 %
Q4 2009 58.19 % 65.18 % 55.64 %
Q1 2010 57.95 % 64.98 % 55.22 %
Q2 2010 56.26 % 63.50 % 53.26 %
Q3 2010 55.08 % 62.54 % 52.11 %
Q4 2010 54.20 % 61.48 % 50.30 %
Q1 2011 53.50 % 60.47 % 49.88 %
Q2 2011 54.48 % 60.78 % 50.65 %
Q3 2011 55.89 % 61.76 % 52.02 %
Q4 2011 56.59 % 61.87 % 52.97 %
Q1 2012 58.02 % 63.18 % 54.46 %
Q2 2012 58.04 % 63.75 % 54.82 %
Q3 2012 58.55 % 64.52 % 56.01 %
Q4 2012 58.21 % 63.56 % 55.40 %
Q1 2013 57.60 % 63.07 % 54.88 %
Q2 2013 58.62 % 63.43 % 55.78 %
Q3 2013 57.91 % 63.39 % 54.60 %
Q4 2013 57.06 % 62.96 % 54.38 %
Q1 2014 54.34 % 60.22 % 51.44 %
Q2 2014 53.90 % 60.32 % 51.05 %
Q3 2014 52.82 % 58.65 % 49.99 %
Q4 2014 52.98 % 59.17 % 49.67 %
Q1 2015 53.86 % 59.73 % 50.36 %
Q2 2015 52.29 % 58.10 % 48.75 %
Q3 2015 52.68 % 58.47 % 49.24 %
Q4 2015 54.19 % 60.01 % 51.04 %
Q1 2016 55.04 % 60.98 % 52.12 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2007 140.00 4.48 4.48 14.85
Q2 2007 140.00 4.66 4.66 16.23
Q3 2007 140.00 4.89 4.89 15.64
Q4 2007 140.00 5.03 5.03 16.75
Q1 2008 140.00 5.57 5.57 15.92
Q2 2008 140.00 5.84 5.84 17.57
Q3 2008 140.00 5.50 5.50 15.64
Q4 2008 140.00 5.65 5.65 16.85
Q1 2009 140.00 5.40 5.40 16.28
Q2 2009 140.00 5.27 5.27 17.80
Q3 2009 140.00 5.21 5.21 16.30
Q4 2009 140.00 5.24 5.24 17.58
Q1 2010 140.00 5.16 5.16 16.44
Q2 2010 140.00 4.97 4.97 17.76
Q3 2010 140.00 4.82 4.82 16.61
Q4 2010 140.00 4.70 4.70 17.77
Q1 2011 140.00 4.96 4.96 16.88
Q2 2011 140.00 5.35 5.35 18.59
Q3 2011 140.00 5.78 5.78 17.13
Q4 2011 140.00 6.40 6.40 18.91
Q1 2012 140.00 6.82 6.82 17.44
Q2 2012 140.00 6.98 6.98 19.31
Q3 2012 140.00 7.12 7.12 17.74
Q4 2012 140.00 7.14 7.14 19.55
Q1 2013 140.00 7.03 7.03 17.47
Q2 2013 140.00 7.29 7.29 19.60
Q3 2013 140.00 7.19 7.19 17.93
Q4 2013 140.00 7.19 6.90 19.73
Q1 2014 140.00 6.85 6.55 17.31
Q2 2014 140.00 6.82 6.53 19.41
Q3 2014 140.00 7.53 6.43 19.45
Q4 2014 140.00 7.47 6.66 21.15
Q1 2015 140.00 7.79 6.99 20.05
Q2 2015 140.00 7.62 6.81 21.98
Q3 2015 140.00 7.03 7.03 20.93
Q4 2015 140.00 7.42 7.46 23.06
Q1 2016 140.00 7.54 7.59 21.52

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2007 14.55 14.55 4.39
Q2 2007 14.70 14.70 4.22
Q3 2007 15.43 15.43 4.83
Q4 2007 17.35 17.35 5.21
Q1 2008 13.11 13.11 4.58
Q2 2008 13.01 13.01 4.33
Q3 2008 12.10 12.10 4.25
Q4 2008 8.25 8.25 2.76
Q1 2009 10.69 10.69 3.55
Q2 2009 11.66 11.66 3.46
Q3 2009 12.38 12.38 3.96
Q4 2009 12.79 12.79 3.81
Q1 2010 13.65 13.65 4.29
Q2 2010 13.68 13.68 3.83
Q3 2010 13.91 13.91 4.03
Q4 2010 13.02 13.02 3.45
Q1 2011 12.24 12.24 3.60
Q2 2011 14.31 14.31 4.11
Q3 2011 12.67 12.67 4.28
Q4 2011 13.44 13.44 4.55
Q1 2012 13.50 13.50 5.27
Q2 2012 14.26 14.26 5.15
Q3 2012 13.86 13.86 5.57
Q4 2012 14.00 14.00 5.12
Q1 2013 14.29 14.29 5.75
Q2 2013 14.27 14.27 5.31
Q3 2013 14.85 14.85 5.95
Q4 2013 15.34 15.99 5.59
Q1 2014 16.32 17.05 6.46
Q2 2014 17.00 17.76 5.98
Q3 2014 15.11 17.68 5.85
Q4 2014 14.65 16.41 5.17
Q1 2015 12.21 13.62 4.74
Q2 2015 12.90 14.42 4.47
Q3 2015 11.03 11.03 3.70
Q4 2015 9.44 9.38 3.04
Q1 2016 9.68 9.62 3.39

Analysts Estimates (Million)

Item Q1 2016 (e) Q1 2016 (a) Change‬
Average 249.26 283.20 13.62 %

Estimates vs Actual (Million)

Item Q1 2016 (e) Q1 2016 (a) Change
Value Capital 271.50 283.20 4.3 %
AlJazira Capital 257.80 283.20 9.9 %
OSOOL AND BAKHEET 250.70 283.20 13.0 %
SNB Capital 248.00 283.20 14.2 %
Alistithmar Capital 243.80 283.20 16.2 %
Al Rajhi Capital 238.00 283.20 19.0 %
Riyad Capital 235.00 283.20 20.5 %


Financial Ratios
Current
Market Cap (M Riyal) 5,152.00
Enterprise Value (EV) (M) 5,238.26
Shares Outstanding ((M)) 140.00
EPS ( Riyal) (TTM) 1.49
Book Value (BV) ( Riyal) 23.92
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 26.87
P/E (TTM) 24.69
Price/book 1.54
Return on Average Assets (%) (TTM) 5.1
Return on Average Equity (%) (TTM) 6.3
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Share Price

Southern Province Cement Co.
36.80
0.00 0.00 %

Southern Province Cement Co. (SPCC)

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