Alujain profit slightly down in 9M 2017 to SAR 77 mln

Alujain profit slightly down in 9M 2017 to SAR 77 mln

09/11/2017 Argaam Exclusive

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Alujain Corporation reported a net profit of SAR 77.5 million for the first nine months of 2017, 1 percent lower year-on-year (YoY) due to higher Zakat provision, higher general & administrative expenses and higher selling & marketing expenses which was partially offset after consolidating financial statements with Zain Industries Co..



Financials (M)

Item 9m 2016 9m 2017 Change‬
Operating Income (7.56) (8.39) (10.9 %)
Net Income 78.18 77.47 (0.9 %)
Average Shares 69.20 69.20 -
EPS (Riyals) 1.13 1.12 (0.9 %)

The company reported a net profit of SAR 36.12 million for the third quarter, a 2 percent Y-o-Y decline on higher Zakat provision.

 

When compared to Q2 2017, net profit almost tripled on higher profit share from NATPET Co.



Current Quarter Comparison (M)

Compared With The
Item Q3 2016 Q3 2017 Change‬
Operating Income (2.24) (2.81) (25.3 %)
Net Income 36.82 36.12 (1.9 %)
Average Shares 69.20 69.20 -
EPS (Riyals) 0.53 0.52 (1.9 %)


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2008 - - - - (15.99) (537.2 %)
Q2 2008 - - - - (15.80) (500.2 %)
Q3 2008 - - - - (12.14) 62.2 %
Q4 2008 - - - - (17.94) 19.1 %
Q1 2009 - - - - (17.40) (8.8 %)
Q2 2009 - - - - (18.00) (13.9 %)
Q3 2009 - - - - (15.15) (24.8 %)
Q4 2009 - - - - (17.24) 3.9 %
Q1 2010 - - - - (11.72) 32.6 %
Q2 2010 - - - - (21.92) (21.8 %)
Q3 2010 313.42 - 64.14 - 43.94 390.0 %
Q4 2010 538.71 - 114.88 - 95.15 652.0 %
Q1 2011 375.03 - 57.22 - 40.32 443.9 %
Q2 2011 304.45 - 15.06 - (2.37) 89.2 %
Q3 2011 477.44 52.3 % 84.34 31.5 % 67.36 53.3 %
Q4 2011 314.95 (41.5 %) 2.20 (98.1 %) (10.78) (111.3 %)
Q1 2012 561.81 49.8 % 63.15 10.4 % 44.99 11.6 %
Q2 2012 490.50 61.1 % 78.12 418.9 % 58.77 2576.4 %
Q3 2012 522.58 9.5 % 64.47 (23.6 %) 46.38 (31.1 %)
Q4 2012 537.05 70.5 % 86.67 3846.9 % 64.88 701.8 %
Q1 2013 271.41 (51.7 %) 19.34 (69.4 %) 0.14 (99.7 %)
Q2 2013 521.09 6.2 % 102.07 30.7 % 83.61 42.3 %
Q3 2013 496.85 (4.9 %) 110.98 72.1 % 90.76 95.7 %
Q4 2013 586.85 9.3 % 111.46 28.6 % 85.19 31.3 %
Q1 2014 452.75 66.8 % 68.61 254.8 % 50.78 36432.4 %
Q2 2014 559.46 7.4 % 87.52 (14.3 %) 67.82 (18.9 %)
Q3 2014 547.50 10.2 % 114.55 3.2 % 95.20 4.9 %
Q4 2014 572.98 (2.4 %) 163.48 46.7 % 142.19 66.9 %
Q1 2015 220.70 (51.3 %) 15.04 (78.1 %) (3.29) (106.5 %)
Q2 2015 426.38 (23.8 %) 136.74 56.2 % 117.20 72.8 %
Q3 2015 412.62 (24.6 %) 129.69 13.2 % 109.62 15.1 %
Q4 2015 400.80 (30.0 %) 92.03 (43.7 %) 72.28 (49.2 %)
Q1 2016 305.60 38.5 % 51.56 242.8 % 28.94 980.3 %
Q2 2016 355.75 (16.6 %) 113.66 (16.9 %) 89.41 (23.7 %)
Q3 2016 - - - - (2.24) (102.0 %)
Q4 2016 441.61 10.2 % 106.39 15.6 % 83.43 15.4 %
Q1 2017 6.42 (97.9 %) 1.64 (96.8 %) (3.12) (110.8 %)
Q2 2017 7.96 (97.8 %) 2.52 (97.8 %) (2.46) (102.7 %)
Q3 2017 7.05 - 1.79 - (2.81) (25.3 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2008 (13.07) (510.1 %) (0.19) - (13.07) (0.19)
Q2 2008 (11.64) (170.2 %) (0.17) - (11.64) (0.17)
Q3 2008 (10.17) 27.1 % (0.15) - (10.17) (0.15)
Q4 2008 (30.22) (58.7 %) (0.44) - (30.22) (0.44)
Q1 2009 (10.83) 17.2 % (0.16) - (10.83) (0.16)
Q2 2009 (9.04) 22.4 % (0.13) - (9.04) (0.13)
Q3 2009 (9.94) 2.3 % (0.14) - (9.94) (0.14)
Q4 2009 2.53 108.4 % 0.04 - 2.53 0.04
Q1 2010 (6.67) 38.4 % (0.10) - (6.67) (0.10)
Q2 2010 (7.28) 19.5 % (0.11) 11.30 (18.58) (0.27)
Q3 2010 16.44 265.5 % 0.24 - 16.44 0.24
Q4 2010 39.69 1471.8 % 0.57 - 39.69 0.57
Q1 2011 11.39 270.8 % 0.16 - 11.39 0.16
Q2 2011 (19.33) (165.6 %) (0.28) - (19.33) (0.28)
Q3 2011 22.80 38.7 % 0.33 - 22.80 0.33
Q4 2011 (24.82) (162.5 %) (0.36) - (24.82) (0.36)
Q1 2012 9.60 (15.8 %) 0.14 - 9.60 0.14
Q2 2012 14.36 174.3 % 0.21 - 14.36 0.21
Q3 2012 10.61 (53.5 %) 0.15 - 10.61 0.15
Q4 2012 17.12 169.0 % 0.25 - 17.12 0.25
Q1 2013 (15.89) (265.6 %) (0.23) - (15.89) (0.23)
Q2 2013 34.94 143.3 % 0.50 - 34.94 0.50
Q3 2013 56.96 437.1 % 0.82 17.73 39.23 0.57
Q4 2013 33.82 97.5 % 0.49 - 33.82 0.49
Q1 2014 14.77 193.0 % 0.21 - 14.77 0.21
Q2 2014 52.57 50.5 % 0.76 29.32 23.25 0.34
Q3 2014 34.85 (38.8 %) 0.50 - 34.85 0.50
Q4 2014 65.19 92.8 % 0.94 - 65.19 0.94
Q1 2015 (16.83) (213.9 %) (0.24) - (16.83) (0.24)
Q2 2015 50.18 (4.5 %) 0.73 - 50.18 0.73
Q3 2015 45.56 30.7 % 0.66 - 45.56 0.66
Q4 2015 27.47 (57.9 %) 0.40 - 27.47 0.40
Q1 2016 2.76 116.4 % 0.04 - 2.76 0.04
Q2 2016 38.61 (23.1 %) 0.56 - 38.61 0.56
Q3 2016 36.82 (19.2 %) 0.53 - 36.82 0.53
Q4 2016 35.75 30.1 % 0.52 - 35.75 0.52
Q1 2017 28.85 945.0 % 0.42 - 28.85 0.42
Q2 2017 12.49 (67.6 %) 0.18 - 12.49 0.18
Q3 2017 36.12 (1.9 %) 0.52 - 36.12 0.52

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2008 - - -
Q2 2008 - - -
Q3 2008 - - -
Q4 2008 - - -
Q1 2009 - - -
Q2 2009 - - -
Q3 2009 - - -
Q4 2009 - - -
Q1 2010 - - -
Q2 2010 - - -
Q3 2010 20.46 % 6.33 % (2.00 %)
Q4 2010 21.01 % 19.94 % 3.62 %
Q1 2011 19.25 % 21.11 % 3.99 %
Q2 2011 16.41 % 20.65 % 3.15 %
Q3 2011 16.01 % 20.87 % 3.22 %
Q4 2011 10.79 % 16.82 % (0.68 %)
Q1 2012 9.93 % 15.21 % (0.71 %)
Q2 2012 12.35 % 16.96 % 1.19 %
Q3 2012 11.00 % 15.44 % 0.52 %
Q4 2012 13.85 % 19.00 % 2.45 %
Q1 2013 13.65 % 20.08 % 1.44 %
Q2 2013 14.72 % 21.57 % 2.53 %
Q3 2013 17.47 % 24.82 % 4.13 %
Q4 2013 18.33 % 24.00 % 4.91 %
Q1 2014 19.11 % 24.32 % 5.97 %
Q2 2014 18.06 % 23.20 % 5.30 %
Q3 2014 17.80 % 22.74 % 4.97 %
Q4 2014 20.36 % 25.29 % 6.47 %
Q1 2015 20.02 % 25.57 % 5.60 %
Q2 2015 24.32 % 30.57 % 7.55 %
Q3 2015 27.25 % 34.52 % 8.83 %
Q4 2015 25.57 % 34.60 % 7.28 %
Q1 2016 26.53 % 34.30 % 8.15 %
Q2 2016 26.24 % 34.67 % 7.76 %
Q3 2016 24.22 % 22.88 % 9.95 %
Q4 2016 24.63 % 37.91 % 10.33 %
Q1 2017 27.58 % 43.11 % 17.42 %
Q2 2017 24.24 % 42.30 % 24.98 %
Q3 2017 24.26 % 63.98 % 24.45 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2008 69.20 (0.73) (0.73) 8.89
Q2 2008 69.20 (0.83) (0.83) 9.05
Q3 2008 69.20 (0.78) (0.78) 8.61
Q4 2008 69.20 (0.94) (0.94) 7.45
Q1 2009 69.20 (0.91) (0.91) 7.40
Q2 2009 69.20 (0.87) (0.87) 7.67
Q3 2009 69.20 (0.87) (0.87) 7.47
Q4 2009 69.20 (0.39) (0.39) 7.49
Q1 2010 69.20 (0.33) (0.33) 7.32
Q2 2010 69.20 (0.31) (0.47) 7.17
Q3 2010 69.20 0.07 (0.09) 7.25
Q4 2010 69.20 0.61 0.45 8.01
Q1 2011 69.20 0.87 0.71 8.30
Q2 2011 69.20 0.70 0.70 8.02
Q3 2011 69.20 0.79 0.79 8.27
Q4 2011 69.20 (0.14) (0.14) 8.05
Q1 2012 69.20 (0.17) (0.17) 8.19
Q2 2012 69.20 0.32 0.32 8.47
Q3 2012 69.20 0.14 0.14 8.62
Q4 2012 69.20 0.75 0.75 8.98
Q1 2013 69.20 0.38 0.38 8.78
Q2 2013 69.20 0.68 0.68 9.39
Q3 2013 69.20 1.35 1.09 10.23
Q4 2013 69.20 1.59 1.33 10.81
Q1 2014 69.20 2.03 1.77 10.99
Q2 2014 69.20 2.28 1.61 11.78
Q3 2014 69.20 1.97 1.54 12.32
Q4 2014 69.20 2.42 2.00 13.26
Q1 2015 69.20 1.96 1.54 12.97
Q2 2015 69.20 1.93 1.93 13.78
Q3 2015 69.20 2.08 2.08 14.44
Q4 2015 69.20 1.54 1.54 14.99
Q1 2016 69.20 1.82 1.82 15.03
Q2 2016 69.20 1.65 1.65 15.67
Q3 2016 69.20 1.53 1.53 16.25
Q4 2016 69.20 1.65 1.65 16.75
Q1 2017 69.20 2.02 2.02 17.16
Q2 2017 69.20 1.65 1.65 16.33
Q3 2017 69.20 1.64 1.64 16.83

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2008 NEG NEG 5.57
Q2 2008 NEG NEG 5.06
Q3 2008 NEG NEG 3.46
Q4 2008 NEG NEG 1.45
Q1 2009 NEG NEG 1.51
Q2 2009 NEG NEG 2.63
Q3 2009 NEG NEG 2.64
Q4 2009 NEG NEG 2.29
Q1 2010 NEG NEG 2.39
Q2 2010 NEG NEG 1.81
Q3 2010 More than 100 NEG 2.24
Q4 2010 36.58 49.97 2.78
Q1 2011 24.41 30.05 2.56
Q2 2011 30.37 30.37 2.64
Q3 2011 23.72 23.72 2.26
Q4 2011 NEG NEG 2.17
Q1 2012 NEG NEG 2.74
Q2 2012 45.89 45.89 1.72
Q3 2012 More than 100 More than 100 1.98
Q4 2012 18.48 18.48 1.54
Q1 2013 38.44 38.44 1.66
Q2 2013 21.82 21.82 1.57
Q3 2013 13.60 16.80 1.79
Q4 2013 15.88 18.94 2.33
Q1 2014 12.76 14.60 2.36
Q2 2014 10.38 14.78 2.01
Q3 2014 14.00 17.85 2.23
Q4 2014 6.70 8.12 1.22
Q1 2015 10.18 12.99 1.54
Q2 2015 10.93 10.93 1.53
Q3 2015 7.63 7.63 1.10
Q4 2015 9.37 9.37 0.96
Q1 2016 7.84 7.84 0.95
Q2 2016 7.88 7.88 0.83
Q3 2016 8.08 8.08 0.76
Q4 2016 11.94 11.94 1.17
Q1 2017 10.13 10.13 1.19
Q2 2017 13.36 13.36 1.35
Q3 2017 13.48 13.48 1.31

Business Segments (Million)

Compared With The
Period Manufacturing home care products
Q1 2017 6.42
Q2 2017 7.96
Q3 2017 7.05

Analysts Estimates (Million)

Item Q3 2017 (e) Q3 2017 (a) Change‬
Average 33.00 36.12 9.47 %

Estimates vs Actual (Million)

Item Q3 2017 (e) Q3 2017 (a) Change
OSOOL AND BAKHEET 36.00 36.12 0.3 %
Sico 30.00 36.12 20.4 %


Financial Ratios
Current
Market Cap (M Riyal) 2,622.68
Enterprise Value (EV) (M) 2,961.77
Shares Outstanding ((M)) 69.20
EPS ( Riyal) (TTM) (0.01)
Book Value (BV) ( Riyal) 52.14
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 0.73
Return on Average Assets (%) (TTM) (0.01 )
Return on Average Equity (%) (TTM) (0.02 )
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Share Price

Alujain Corp.
37.90
(0.10) (0.26 %)

Alujain Corp. (ALUJAIN)

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