Aldrees posts higher net profit at SAR 65.9m in I2 of 2014

Aldrees posts higher net profit at SAR 65.9m in I2 of 2014

30/06/2014 Argaam Exclusive

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Aldrees Petroleum & Transport Services Co., which operates a range of fuel stations in the Kingdom, reported SAR 65.9m net profit at the end of the first half of 2014, compared to the same period last year, as shown in the following table:



Financials (M)

Item 6m 2013 6m 2014 Change‬
Revenues 993.32 1,069.27 7.6 %
Gross Income 92.65 118.14 27.5 %
Operating Income 54.20 71.86 32.6 %
Net Income 50.95 65.87 29.3 %
Average Shares 100.00 100.00 -
EPS (Riyals) 0.51 0.66 29.3 %


Current Quarter Comparison (M)

Compared With The
Item Q2 2013 Q2 2014 Change‬
Revenues 503.26 550.68 9.4 %
Gross Income 47.79 62.52 30.8 %
Operating Income 28.42 39.27 38.2 %
Net Income 27.40 35.36 29.1 %
Average Shares 100.00 100.00 -
EPS (Riyals) 0.27 0.35 29.1 %


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2005 182.15 - 16.15 - 10.80 -
Q2 2005 198.05 - 16.36 - 10.27 -
Q3 2005 197.84 - 13.94 - 8.26 -
Q4 2005 205.86 - 18.41 - 10.40 -
Q1 2006 214.41 17.7 % 17.79 10.1 % 10.47 (3.1 %)
Q2 2006 200.44 1.2 % 19.54 19.4 % 10.82 5.4 %
Q3 2006 176.08 (11.0 %) 18.39 32.0 % 9.73 17.9 %
Q4 2006 193.49 (6.0 %) 14.91 (19.0 %) 6.06 (41.8 %)
Q1 2007 196.52 (8.3 %) 25.74 44.7 % 15.32 46.3 %
Q2 2007 218.66 9.1 % 26.43 35.2 % 15.93 47.3 %
Q3 2007 220.71 25.3 % 23.70 28.9 % 11.49 18.1 %
Q4 2007 230.56 19.2 % 20.95 40.5 % 8.66 43.0 %
Q1 2008 258.97 31.8 % 26.26 2.0 % 13.70 (10.6 %)
Q2 2008 287.29 31.4 % 30.99 17.3 % 17.56 10.2 %
Q3 2008 282.93 28.2 % 30.01 26.6 % 16.38 42.5 %
Q4 2008 305.26 32.4 % 31.06 48.3 % 14.07 62.4 %
Q1 2009 310.12 19.8 % 29.06 10.6 % 15.97 16.6 %
Q2 2009 335.22 16.7 % 37.34 20.5 % 22.82 30.0 %
Q3 2009 323.21 14.2 % 34.39 14.6 % 20.80 27.0 %
Q4 2009 340.96 11.7 % 34.15 9.9 % 19.95 41.8 %
Q1 2010 342.53 10.5 % 35.99 23.9 % 22.02 37.8 %
Q2 2010 377.90 12.7 % 44.16 18.3 % 29.09 27.4 %
Q3 2010 372.72 15.3 % 38.01 10.5 % 23.37 12.3 %
Q4 2010 387.24 13.6 % 35.05 2.7 % 19.59 (1.8 %)
Q1 2011 395.84 15.6 % 37.80 5.0 % 23.06 4.7 %
Q2 2011 430.42 13.9 % 43.06 (2.5 %) 26.63 (8.4 %)
Q3 2011 423.92 13.7 % 40.76 7.2 % 24.45 4.6 %
Q4 2011 444.00 14.7 % 42.65 21.7 % 25.76 31.5 %
Q1 2012 452.68 14.4 % 41.13 8.8 % 24.89 8.0 %
Q2 2012 473.74 10.1 % 45.27 5.1 % 29.20 9.7 %
Q3 2012 462.24 9.0 % 41.11 0.9 % 24.78 1.3 %
Q4 2012 484.92 9.2 % 43.99 3.1 % 26.06 1.2 %
Q1 2013 490.06 8.3 % 44.86 9.1 % 25.78 3.6 %
Q2 2013 503.26 6.2 % 47.79 5.6 % 28.42 (2.7 %)
Q3 2013 486.18 5.2 % 46.17 12.3 % 25.75 3.9 %
Q4 2013 503.18 3.8 % 48.83 11.0 % 29.34 12.6 %
Q1 2014 518.59 5.8 % 55.62 24.0 % 32.60 26.5 %
Q2 2014 550.68 9.4 % 62.52 30.8 % 39.27 38.2 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2005 10.80 - 0.11 - 10.80 0.11
Q2 2005 10.74 - 0.11 - 10.74 0.11
Q3 2005 8.23 - 0.08 - 8.23 0.08
Q4 2005 9.59 - 0.10 - 9.59 0.10
Q1 2006 11.50 6.5 % 0.12 - 11.50 0.12
Q2 2006 12.19 13.5 % 0.12 - 12.19 0.12
Q3 2006 9.30 13.1 % 0.09 - 9.30 0.09
Q4 2006 8.42 (12.2 %) 0.08 - 8.42 0.08
Q1 2007 14.74 28.2 % 0.15 - 14.74 0.15
Q2 2007 15.44 26.7 % 0.15 - 15.44 0.15
Q3 2007 10.47 12.5 % 0.10 - 10.47 0.10
Q4 2007 9.75 15.7 % 0.10 - 9.75 0.10
Q1 2008 12.38 (16.0 %) 0.12 - 12.38 0.12
Q2 2008 15.59 0.9 % 0.16 - 15.59 0.16
Q3 2008 13.80 31.8 % 0.14 - 13.80 0.14
Q4 2008 11.11 14.0 % 0.11 - 11.11 0.11
Q1 2009 13.75 11.1 % 0.14 - 13.75 0.14
Q2 2009 19.59 25.7 % 0.20 - 19.59 0.20
Q3 2009 18.14 31.4 % 0.18 - 18.14 0.18
Q4 2009 17.42 56.7 % 0.17 - 17.42 0.17
Q1 2010 19.86 44.4 % 0.20 - 19.86 0.20
Q2 2010 26.70 36.3 % 0.27 - 26.70 0.27
Q3 2010 20.99 15.7 % 0.21 - 20.99 0.21
Q4 2010 18.47 6.1 % 0.18 (0.62) 19.09 0.19
Q1 2011 22.01 10.8 % 0.22 - 22.01 0.22
Q2 2011 24.56 (8.0 %) 0.25 - 24.56 0.25
Q3 2011 22.03 4.9 % 0.22 - 22.03 0.22
Q4 2011 23.57 27.6 % 0.24 - 23.57 0.24
Q1 2012 22.77 3.5 % 0.23 - 22.77 0.23
Q2 2012 26.43 7.6 % 0.26 - 26.43 0.26
Q3 2012 22.64 2.8 % 0.23 - 22.64 0.23
Q4 2012 23.71 0.6 % 0.24 - 23.71 0.24
Q1 2013 23.56 3.5 % 0.24 - 23.56 0.24
Q2 2013 27.40 3.6 % 0.27 - 27.40 0.27
Q3 2013 24.34 7.6 % 0.24 - 24.34 0.24
Q4 2013 26.40 11.3 % 0.26 - 26.40 0.26
Q1 2014 30.51 29.5 % 0.31 - 30.51 0.31
Q2 2014 35.36 29.1 % 0.35 - 35.36 0.35

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2005 - - -
Q2 2005 - - -
Q3 2005 - - -
Q4 2005 8.27 % 6.44 % 5.02 %
Q1 2006 8.15 % 6.28 % 4.91 %
Q2 2006 8.51 % 6.44 % 5.07 %
Q3 2006 9.30 % 6.96 % 5.34 %
Q4 2006 9.00 % 6.53 % 5.28 %
Q1 2007 10.25 % 7.49 % 5.83 %
Q2 2007 10.89 % 8.28 % 6.10 %
Q3 2007 10.95 % 8.26 % 5.92 %
Q4 2007 11.17 % 8.52 % 5.82 %
Q1 2008 10.48 % 8.03 % 5.17 %
Q2 2008 10.22 % 7.81 % 4.83 %
Q3 2008 10.21 % 8.07 % 4.86 %
Q4 2008 10.43 % 8.17 % 4.66 %
Q1 2009 10.22 % 8.22 % 4.58 %
Q2 2009 10.33 % 8.48 % 4.72 %
Q3 2009 10.35 % 8.70 % 4.91 %
Q4 2009 10.30 % 9.02 % 5.26 %
Q1 2010 10.57 % 9.36 % 5.59 %
Q2 2010 10.74 % 9.64 % 5.93 %
Q3 2010 10.62 % 9.62 % 5.92 %
Q4 2010 10.35 % 9.44 % 5.85 %
Q1 2011 10.11 % 9.31 % 5.79 %
Q2 2011 9.70 % 9.01 % 5.46 %
Q3 2011 9.57 % 8.90 % 5.36 %
Q4 2011 9.70 % 9.06 % 5.44 %
Q1 2012 9.57 % 8.96 % 5.31 %
Q2 2012 9.46 % 8.95 % 5.28 %
Q3 2012 9.28 % 8.85 % 5.21 %
Q4 2012 9.15 % 8.75 % 5.10 %
Q1 2013 9.17 % 8.68 % 5.04 %
Q2 2013 9.16 % 8.56 % 5.01 %
Q3 2013 9.31 % 8.55 % 5.04 %
Q4 2013 9.46 % 8.67 % 5.13 %
Q1 2014 9.87 % 8.94 % 5.40 %
Q2 2014 10.35 % 9.29 % 5.66 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2005 100.00 - - 2.11
Q2 2005 100.00 - - 2.02
Q3 2005 100.00 - - 2.10
Q4 2005 100.00 0.39 0.39 2.04
Q1 2006 100.00 0.40 0.40 2.15
Q2 2006 100.00 0.42 0.42 2.28
Q3 2006 100.00 0.43 0.43 2.37
Q4 2006 100.00 0.41 0.41 2.45
Q1 2007 100.00 0.45 0.45 2.60
Q2 2007 100.00 0.48 0.48 2.76
Q3 2007 100.00 0.49 0.49 2.86
Q4 2007 100.00 0.50 0.50 2.96
Q1 2008 100.00 0.48 0.48 2.76
Q2 2008 100.00 0.48 0.48 2.92
Q3 2008 100.00 0.52 0.52 3.06
Q4 2008 100.00 0.53 0.53 3.17
Q1 2009 100.00 0.54 0.54 2.91
Q2 2009 100.00 0.58 0.58 3.11
Q3 2009 100.00 0.63 0.63 3.29
Q4 2009 100.00 0.69 0.69 3.47
Q1 2010 100.00 0.75 0.75 3.27
Q2 2010 100.00 0.82 0.82 3.54
Q3 2010 100.00 0.85 0.85 3.75
Q4 2010 100.00 0.86 0.87 3.93
Q1 2011 100.00 0.88 0.89 3.64
Q2 2011 100.00 0.86 0.87 3.88
Q3 2011 100.00 0.87 0.88 4.10
Q4 2011 100.00 0.92 0.92 4.34
Q1 2012 100.00 0.93 0.93 4.05
Q2 2012 100.00 0.95 0.95 4.32
Q3 2012 100.00 0.95 0.95 4.54
Q4 2012 100.00 0.96 0.96 4.78
Q1 2013 100.00 0.96 0.96 4.40
Q2 2013 100.00 0.97 0.97 4.67
Q3 2013 100.00 0.99 0.99 4.92
Q4 2013 100.00 1.02 1.02 5.18
Q1 2014 100.00 1.09 1.09 4.87
Q2 2014 100.00 1.17 1.17 5.23

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2005 - - -
Q2 2005 - - -
Q3 2005 - - -
Q4 2005 - - -
Q1 2006 64.83 64.83 12.05
Q2 2006 83.74 83.74 15.27
Q3 2006 87.15 87.15 15.66
Q4 2006 37.68 37.68 6.36
Q1 2007 33.71 33.71 5.79
Q2 2007 25.47 25.47 4.43
Q3 2007 25.07 25.07 4.30
Q4 2007 26.11 26.11 4.45
Q1 2008 20.83 20.83 3.62
Q2 2008 21.28 21.28 3.51
Q3 2008 12.02 12.02 2.03
Q4 2008 11.77 11.77 1.96
Q1 2009 12.08 12.08 2.25
Q2 2009 12.49 12.49 2.34
Q3 2009 16.47 16.47 3.13
Q4 2009 13.72 13.72 2.73
Q1 2010 12.50 12.50 2.86
Q2 2010 11.91 11.91 2.76
Q3 2010 13.95 13.95 3.16
Q4 2010 13.90 13.80 3.04
Q1 2011 12.20 12.11 2.96
Q2 2011 13.28 13.19 2.94
Q3 2011 12.26 12.18 2.60
Q4 2011 11.94 11.94 2.54
Q1 2012 13.34 13.34 3.06
Q2 2012 10.48 10.48 2.30
Q3 2012 11.51 11.51 2.42
Q4 2012 10.87 10.87 2.17
Q1 2013 10.59 10.59 2.32
Q2 2013 11.44 11.44 2.38
Q3 2013 13.79 13.79 2.78
Q4 2013 13.28 13.28 2.61
Q1 2014 14.58 14.58 3.25
Q2 2014 17.10 17.10 3.82

Business Segments (Million)

Compared With The
Period Oil services sector Transport Service elimination Super Sector 2
Q1 2005 163.11 19.04 - -
Q2 2005 176.82 21.22 - -
Q3 2005 177.55 20.26 - 0.03
Q4 2005 191.16 14.46 - 0.24
Q1 2006 194.14 19.61 - 0.65
Q2 2006 179.51 19.90 - 1.04
Q3 2006 155.28 19.55 - 1.25
Q4 2006 173.51 19.25 - 0.73
Q1 2007 171.50 24.24 - 0.78
Q2 2007 193.16 24.77 - 0.74
Q3 2007 193.51 26.52 - 0.68
Q4 2007 202.34 27.47 - 0.75
Q1 2008 225.67 32.51 - 0.79
Q2 2008 248.00 38.52 - 0.78
Q3 2008 243.15 39.07 - 0.71
Q4 2008 262.58 41.78 - 0.90
Q1 2009 268.72 40.51 - 0.89
Q2 2009 286.93 47.40 - 0.89
Q3 2009 276.18 46.22 - 0.81
Q4 2009 299.59 40.45 - 0.92
Q1 2010 301.37 40.23 - 0.94
Q2 2010 330.45 46.54 - 0.90
Q3 2010 325.52 46.51 - 0.68
Q4 2010 344.68 41.81 - 0.76
Q1 2011 363.56 40.81 (9.58) 1.05
Q2 2011 395.08 45.07 (10.78) 1.06
Q3 2011 384.14 49.80 (10.85) 0.83
Q4 2011 402.26 52.53 (11.78) 0.99
Q1 2012 415.89 48.60 (11.81) -
Q2 2012 432.76 53.41 (12.43) -
Q3 2012 422.65 52.04 (12.45) -
Q4 2012 446.47 51.46 (13.01) -
Q1 2013 446.50 57.18 (13.62) -
Q2 2013 457.78 59.76 (14.28) -
Q3 2013 439.61 60.55 (13.98) -
Q4 2013 458.09 58.93 (13.84) -
Q1 2014 461.66 70.51 (13.58) -
Q2 2014 490.43 75.51 (15.25) -


Financial Ratios
Current
Market Cap (M Riyal) 12,360.00
Enterprise Value (EV) (M) 12,287.85
Shares Outstanding ((M)) 100.00
EPS ( Riyal) (TTM) 3.17
Book Value (BV) ( Riyal) 13.90
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 39.45
P/E (TTM) 38.99
Price/book 8.89
Return on Average Assets (%) (TTM) 4.1
Return on Average Equity (%) (TTM) 24.8
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Share Price

Aldrees Petroleum and Transport Services Co.
123.60
(5.60) (4.33 %)

Aldrees Petroleum and Transport Services Co. (ALDREES)

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