Almarai’s Q1 net profit edges up 1% to SAR 309 mln

Almarai’s Q1 net profit edges up 1% to SAR 309 mln

10/04/2016 Argaam Exclusive

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Almarai Co., Saudi Arabia's largest dairy producer, reported a net profit of SAR 308.5 million for the first quarter of 2016, a 1 percent year-on-year (YoY) increase mainly attributed to higher sales growth across its dairy and juice, bakery and poultry divisions.

 

Q1 profit, however, was down 36 percent when compared to the previous quarter due to seasonality factors and consumption trends, the company said, without elaborating further.



Current Quarter Comparison (M)

Compared With The
Item Q1 2015 Q1 2016 Change‬
Revenues 3,037.31 3,373.79 11.1 %
Gross Income 1,110.34 1,127.55 1.5 %
Operating Income 378.09 383.35 1.4 %
Net Income 306.48 288.66 (5.8 %)
Average Shares 1,000.00 1,000.00 -
EPS (Riyals) 0.31 0.29 (5.8 %)


Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Riyal)
Q1 2007 806.93 29.8 % 311.69 37.5 % 122.84 35.6 % 0.13
Q2 2007 905.74 29.3 % 371.16 36.1 % 165.28 35.7 % 0.17
Q3 2007 1,012.39 41.2 % 416.51 46.5 % 186.06 51.8 % 0.20
Q4 2007 1,044.77 45.6 % 393.98 35.3 % 193.09 48.8 % 0.20
Q1 2008 1,119.07 38.7 % 416.26 33.5 % 162.20 32.0 % 0.17
Q2 2008 1,247.52 37.7 % 514.53 38.6 % 235.23 42.3 % 0.25
Q3 2008 1,388.53 37.2 % 572.86 37.5 % 293.68 57.8 % 0.31
Q4 2008 1,274.78 22.0 % 495.31 25.7 % 219.16 13.5 % 0.23
Q1 2009 1,326.08 18.5 % 508.25 22.1 % 197.37 21.7 % 0.21
Q2 2009 1,447.12 16.0 % 591.31 14.9 % 287.10 22.0 % 0.30
Q3 2009 1,547.44 11.4 % 697.63 21.8 % 363.43 23.8 % 0.38
Q4 2009 1,548.17 21.4 % 568.61 14.8 % 248.82 13.5 % 0.26
Q1 2010 1,559.49 17.6 % 570.03 12.2 % 234.10 18.6 % 0.23
Q2 2010 1,738.87 20.2 % 701.13 18.6 % 343.06 19.5 % 0.34
Q3 2010 1,833.74 18.5 % 796.45 14.2 % 424.51 16.8 % 0.42
Q4 2010 1,798.82 16.2 % 668.31 17.5 % 283.76 14.0 % 0.28
Q1 2011 1,743.57 11.8 % 634.15 11.2 % 235.25 0.5 % 0.24
Q2 2011 2,012.85 15.8 % 776.81 10.8 % 349.26 1.8 % 0.35
Q3 2011 2,105.28 14.8 % 861.72 8.2 % 429.70 1.2 % 0.43
Q4 2011 2,089.29 16.1 % 723.84 8.3 % 125.31 (55.8 %) 0.13
Q1 2012 2,040.35 17.0 % 707.30 11.5 % 242.12 2.9 % 0.24
Q2 2012 2,524.14 25.4 % 921.72 18.7 % 379.52 8.7 % 0.38
Q3 2012 2,672.99 27.0 % 1,012.19 17.5 % 449.97 4.7 % 0.45
Q4 2012 2,645.52 26.6 % 869.87 20.2 % 369.03 194.5 % 0.37
Q1 2013 2,411.03 18.2 % 827.80 17.0 % 255.09 5.4 % 0.26
Q2 2013 2,873.88 13.9 % 1,034.49 12.2 % 398.23 4.9 % 0.40
Q3 2013 2,926.09 9.5 % 1,104.95 9.2 % 475.62 5.7 % 0.48
Q4 2013 3,008.18 13.7 % 995.50 14.4 % 373.27 1.2 % 0.37
Q1 2014 2,718.92 12.8 % 918.95 11.0 % 273.58 7.2 % 0.27
Q2 2014 3,286.52 14.4 % 1,149.16 11.1 % 433.29 8.8 % 0.43
Q3 2014 3,269.37 11.7 % 1,390.72 25.9 % 539.44 13.4 % 0.54
Q4 2014 3,330.76 10.7 % 1,133.79 13.9 % 428.03 14.7 % 0.43
Q1 2015 3,037.31 11.7 % 1,110.34 20.8 % 306.48 12.0 % 0.31
Q2 2015 3,649.52 11.0 % 1,388.04 20.8 % 530.42 22.4 % 0.53
Q3 2015 3,523.58 7.8 % 1,446.52 4.0 % 595.12 10.3 % 0.60
Q4 2015 3,584.20 7.6 % 1,338.37 18.0 % 483.68 13.0 % 0.48
Q1 2016 3,373.79 11.1 % 1,127.55 1.5 % 288.66 (5.8 %) 0.29

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2007 39.41 % 25.92 % 16.89 %
Q2 2007 39.98 % 27.32 % 17.17 %
Q3 2007 40.39 % 28.53 % 17.54 %
Q4 2007 39.61 % 29.08 % 17.70 %
Q1 2008 39.15 % 28.79 % 17.31 %
Q2 2008 39.36 % 28.40 % 17.55 %
Q3 2008 39.53 % 28.73 % 18.42 %
Q4 2008 39.74 % 25.34 % 18.10 %
Q1 2009 39.93 % 24.95 % 18.05 %
Q2 2009 39.87 % 26.48 % 18.34 %
Q3 2009 40.97 % 24.82 % 19.07 %
Q4 2009 40.31 % 26.70 % 18.69 %
Q1 2010 39.78 % 26.57 % 18.57 %
Q2 2010 39.68 % 25.16 % 18.60 %
Q3 2010 39.46 % 27.32 % 18.72 %
Q4 2010 39.47 % 27.21 % 18.55 %
Q1 2011 39.35 % 26.97 % 18.08 %
Q2 2011 38.92 % 26.49 % 17.50 %
Q3 2011 38.39 % 25.84 % 16.94 %
Q4 2011 37.69 % 25.62 % 16.35 %
Q1 2012 37.22 % 25.26 % 15.84 %
Q2 2012 36.70 % 26.67 % 15.26 %
Q3 2012 36.08 % 26.90 % 14.55 %
Q4 2012 35.53 % 27.71 % 14.58 %
Q1 2013 35.42 % 28.17 % 14.18 %
Q2 2013 35.31 % 27.64 % 13.89 %
Q3 2013 35.34 % 27.93 % 13.80 %
Q4 2013 35.32 % 27.87 % 13.39 %
Q1 2014 35.17 % 27.75 % 13.01 %
Q2 2014 34.91 % 27.35 % 12.86 %
Q3 2014 36.26 % 27.32 % 13.02 %
Q4 2014 36.43 % 27.38 % 13.12 %
Q1 2015 37.02 % 27.31 % 13.21 %
Q2 2015 37.80 % 27.58 % 14.18 %
Q3 2015 37.51 % 27.73 % 14.32 %
Q4 2015 38.30 % 27.91 % 14.61 %
Q1 2016 37.51 % 27.63 % 14.13 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2007 947.83 0.52 0.52 2.66
Q2 2007 947.83 0.57 0.57 2.83
Q3 2007 947.83 0.64 0.64 3.03
Q4 2007 947.83 0.70 0.70 3.22
Q1 2008 947.83 0.75 0.75 3.45
Q2 2008 947.83 0.82 0.82 3.91
Q3 2008 947.83 0.93 0.93 3.94
Q4 2008 947.83 0.96 0.96 3.82
Q1 2009 960.87 0.98 0.98 3.60
Q2 2009 960.87 1.04 1.04 4.04
Q3 2009 960.87 1.11 1.11 4.37
Q4 2009 960.87 1.14 1.14 5.38
Q1 2010 1,000.00 1.13 1.13 5.58
Q2 2010 1,000.00 1.19 1.19 5.37
Q3 2010 1,000.00 1.25 1.25 5.88
Q4 2010 1,000.00 1.29 1.29 6.13
Q1 2011 1,000.00 1.29 1.29 6.40
Q2 2011 1,000.00 1.29 1.29 6.19
Q3 2011 1,000.00 1.30 1.30 6.46
Q4 2011 1,000.00 1.14 1.30 6.72
Q1 2012 1,000.00 1.15 1.31 7.18
Q2 2012 1,000.00 1.18 1.34 6.87
Q3 2012 1,000.00 1.20 1.36 7.26
Q4 2012 1,000.00 1.44 1.44 7.55
Q1 2013 1,000.00 1.45 1.45 7.76
Q2 2013 1,000.00 1.47 1.47 7.66
Q3 2013 1,000.00 1.50 1.50 8.07
Q4 2013 1,000.00 1.50 1.50 8.44
Q1 2014 1,000.00 1.52 1.50 8.76
Q2 2014 1,000.00 1.56 1.53 8.53
Q3 2014 1,000.00 1.62 1.60 8.99
Q4 2014 1,000.00 1.67 1.65 9.19
Q1 2015 1,000.00 1.71 1.71 9.37
Q2 2015 1,000.00 1.80 1.88 9.62
Q3 2015 1,000.00 1.86 1.94 9.99
Q4 2015 1,000.00 1.92 2.01 10.36
Q1 2016 1,000.00 1.90 2.00 10.51

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2007 17.26 17.26 3.40
Q2 2007 19.24 19.24 3.88
Q3 2007 16.33 16.33 3.44
Q4 2007 20.68 20.68 4.52
Q1 2008 22.84 22.84 4.94
Q2 2008 24.67 24.67 5.17
Q3 2008 19.43 19.43 4.60
Q4 2008 17.73 17.73 4.46
Q1 2009 18.63 18.63 5.16
Q2 2009 18.00 18.00 4.69
Q3 2009 18.36 18.36 4.73
Q4 2009 17.34 17.34 3.53
Q1 2010 19.60 19.60 3.98
Q2 2010 18.48 18.48 4.09
Q3 2010 18.64 18.64 3.97
Q4 2010 20.03 20.03 4.20
Q1 2011 17.11 17.11 3.44
Q2 2011 16.85 16.85 3.52
Q3 2011 15.27 15.27 3.07
Q4 2011 20.03 17.56 3.40
Q1 2012 23.02 20.20 3.68
Q2 2012 21.89 19.27 3.75
Q3 2012 23.45 20.68 3.87
Q4 2012 17.67 17.67 3.37
Q1 2013 18.55 18.55 3.48
Q2 2013 19.13 19.13 3.68
Q3 2013 21.99 21.99 4.08
Q4 2013 21.02 21.02 3.74
Q1 2014 25.51 25.87 4.43
Q2 2014 27.08 27.45 4.94
Q3 2014 29.93 30.32 5.39
Q4 2014 27.56 27.91 5.02
Q1 2015 30.66 30.66 5.59
Q2 2015 29.98 28.72 5.62
Q3 2015 27.25 26.13 5.07
Q4 2015 24.57 23.36 4.54
Q1 2016 22.12 21.02 3.99

Business Segments (Million)

Compared With The
Period Dairy & Juice Poultry Project Bakeries Productions Others Arable and Horticulture
Q1 2007 719.26 - 87.68 - -
Q2 2007 814.17 - 91.57 - -
Q3 2007 917.02 - 95.37 - -
Q4 2007 950.59 - 94.19 - -
Q1 2008 1,015.44 - 103.62 - -
Q2 2008 1,111.43 - 136.09 - -
Q3 2008 1,247.44 - 141.09 - -
Q4 2008 1,140.78 - 134.00 - -
Q1 2009 1,191.73 - 134.35 - -
Q2 2009 1,286.67 - 160.45 - -
Q3 2009 1,394.68 - 152.76 - -
Q4 2009 1,304.66 44.50 170.55 - 28.46
Q1 2010 1,341.86 35.96 178.26 - 3.42
Q2 2010 1,455.52 42.24 216.58 - 24.54
Q3 2010 1,578.11 49.87 202.10 - 3.65
Q4 2010 1,510.39 48.07 224.28 - 16.09
Q1 2011 1,467.84 63.47 211.39 - 0.88
Q2 2011 1,658.98 81.66 249.07 - 23.14
Q3 2011 1,777.55 75.03 228.42 - 24.28
Q4 2011 1,688.44 99.05 277.49 - 24.31
Q1 2012 1,635.68 95.40 293.54 - 15.73
Q2 2012 2,031.54 119.06 324.96 - 48.58
Q3 2012 2,203.10 127.43 302.85 - 39.61
Q4 2012 2,102.29 162.46 369.30 0.08 11.39
Q1 2013 1,901.16 162.12 340.90 6.85 -
Q2 2013 2,209.27 202.71 369.48 92.41 -
Q3 2013 2,354.11 212.94 324.76 34.29 -
Q4 2013 2,371.27 214.56 409.97 12.37 -
Q1 2014 2,125.60 211.10 373.32 8.91 -
Q2 2014 2,547.67 250.35 399.27 89.24 -
Q3 2014 2,603.15 273.64 365.99 26.59 -
Q4 2014 2,625.49 287.67 394.33 23.27 -
Q1 2015 2,353.44 308.98 355.53 19.36 -
Q2 2015 2,869.02 313.95 396.35 70.21 -
Q3 2015 2,756.98 314.83 399.51 52.27 -
Q4 2015 2,761.46 324.49 474.46 23.79 -
Q1 2016 2,577.33 320.83 452.27 23.36 -

Analysts Estimates (Million)

Item Q1 2016 (e) Q1 2016 (a) Change‬
Average 305.46 288.66 (5.5 %)

Estimates vs Actual (Million)

Item Q1 2016 (e) Q1 2016 (a) Change
Riyad Capital 294.00 288.66 (1.8) %
AlJazira Capital 279.30 288.66 3.4 %
SNB Capital 300.00 288.66 (3.8) %
Albilad Capital 309.00 288.66 (6.6) %
Al Rajhi Capital 326.00 288.66 (11.5) %
Value Capital 332.60 288.66 (13.2) %
OSOOL AND BAKHEET 340.20 288.66 (15.1) %
NBK Capital 346.00 288.66 (16.6) %
Alistithmar Capital 222.00 288.66 30.0 %


Financial Ratios
Current
Market Cap (M Riyal) 55,900.00
Enterprise Value (EV) (M) 65,037.56
Shares Outstanding ((M)) 1,000.00
EPS ( Riyal) (TTM) 2.11
Book Value (BV) ( Riyal) 18.34
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 26.54
P/E (TTM) 26.54
Price/book 3.05
Return on Average Assets (%) (TTM) 6.2
Return on Average Equity (%) (TTM) 11.8
more

Share Price

Almarai Co.
55.90
(0.30) (0.53 %)

Almarai Co. (ALMARAI)

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