Amiantit narrows losses in 9M 2020 to SAR 244.1 mln

Amiantit narrows losses in 9M 2020 to SAR 244.1 mln

05/11/2020 Argaam Exclusive

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Saudi Arabian Amiantit Co. narrowed net loss after Zakat and tax of SAR 244.1 million for the first nine months of 2020, from SAR 301.1 million in the same period last year.

 

The company attributed the decline in losses to booking several provisions during the similar period last year.



Financials (M)

Item 9m 2019 9m 2020 Change‬
Revenues 582.96 361.20 (38.0 %)
Gross Income (169.86) (27.06) 84.1 %
Operating Income (251.47) (92.99) 63.0 %
Net Income (301.09) (244.09) 18.9 %
Average Shares 30.25 30.25 -
EPS (Riyals) (9.95) (8.07) 18.9 %

Amiantit’s net loss widened to SAR 55.5 million for Q3 2020 from SAR 4.9 million in the same quarter last year on lower sales affected by the coronavirus lock-down period, higher receivables provisions and forex losses in Iraq and Turkmenistan projects.

 

On a quarterly basis, the company’s losses fell from SAR 57.3 million in Q2 2020 due to higher sales in Q3 2020.

 

Amiantit’s accumulated losses reached SAR 205.09 million representing 59.53% of its SAR 344.517 million capital.



Current Quarter Comparison (M)

Compared With The
Item Q3 2019 Q3 2020 Change‬
Revenues 186.35 115.97 (37.8 %)
Gross Income 19.52 (6.24) (132.0 %)
Operating Income (1.91) (26.97) (1,311.1 %)
Net Income (4.97) (55.50) (1,016.4 %)
Average Shares 30.25 30.25 -
EPS (Riyals) (0.16) (1.83) (1,016.4 %)


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2011 778.88 6.3 % 156.48 (24.6 %) 76.72 (39.0 %)
Q2 2011 854.41 5.2 % 159.22 (21.9 %) 76.85 (32.0 %)
Q3 2011 907.62 22.7 % 155.76 (0.6 %) 76.30 (7.4 %)
Q4 2011 1,021.73 28.8 % 171.43 8.1 % 94.41 31.9 %
Q1 2012 900.02 15.6 % 155.91 (0.4 %) 79.71 3.9 %
Q2 2012 895.92 4.9 % 149.05 (6.4 %) 74.78 (2.7 %)
Q3 2012 768.69 (15.3 %) 116.21 (25.4 %) 49.99 (34.5 %)
Q4 2012 890.16 (12.9 %) 135.41 (21.0 %) 58.84 (37.7 %)
Q1 2013 859.19 (4.5 %) 140.28 (10.0 %) 70.60 (11.4 %)
Q2 2013 830.39 (7.3 %) 144.39 (3.1 %) 72.83 (2.6 %)
Q3 2013 760.81 (1.0 %) 101.09 (13.0 %) 44.26 (11.5 %)
Q4 2013 680.29 (23.6 %) 84.24 (37.8 %) 39.78 (32.4 %)
Q1 2014 697.61 (18.8 %) 107.91 (23.1 %) 46.48 (34.2 %)
Q2 2014 716.87 (13.7 %) 110.43 (23.5 %) 47.12 (35.3 %)
Q3 2014 623.25 (18.1 %) 85.34 (15.6 %) 21.56 (51.3 %)
Q4 2014 688.06 1.1 % 121.35 44.0 % 56.30 41.5 %
Q1 2015 731.36 4.8 % 110.60 2.5 % 57.37 23.4 %
Q2 2015 713.61 (0.5 %) 113.95 3.2 % 46.13 (2.1 %)
Q3 2015 720.15 15.5 % 140.43 64.6 % 71.25 230.6 %
Q4 2015 743.51 8.1 % 104.91 (13.5 %) 46.20 (17.9 %)
Q1 2016 554.29 (24.2 %) 95.49 (13.7 %) 34.47 (39.9 %)
Q2 2016 508.71 (28.7 %) 74.20 (34.9 %) 15.93 (65.5 %)
Q3 2016 284.77 (60.5 %) 45.91 (67.3 %) (3.06) (104.3 %)
Q4 2016 246.31 (66.9 %) (55.11) (152.5 %) (148.11) (420.6 %)
Q1 2017 210.13 (62.1 %) 23.34 (75.6 %) (5.86) (117.0 %)
Q2 2017 212.33 (58.3 %) 34.93 (52.9 %) 6.03 (62.2 %)
Q3 2017 132.78 (53.4 %) 1.85 (96.0 %) (23.00) (650.8 %)
Q4 2017 232.97 (5.4 %) 64.38 216.8 % 3.16 102.1 %
Q1 2018 199.97 (4.8 %) 32.04 37.3 % 4.88 183.3 %
Q2 2018 199.41 (6.1 %) 18.94 (45.8 %) (9.61) (259.4 %)
Q3 2018 269.68 103.1 % 59.67 3130.8 % 24.76 207.7 %
Q4 2018 278.53 19.6 % (14.54) (122.6 %) (61.15) (2037.1 %)
Q1 2019 233.03 16.5 % 15.63 (51.2 %) (13.78) (382.4 %)
Q2 2019 163.58 (18.0 %) (205.01) (1182.5 %) (239.48) (2,393.1 %)
Q3 2019 186.35 (30.9 %) 19.52 (67.3 %) (1.91) (107.7 %)
Q4 2019 197.45 (29.1 %) 23.35 260.5 % 3.96 106.5 %
Q1 2020 162.04 (30.5 %) (5.87) (137.6 %) (30.29) (119.9 %)
Q2 2020 83.18 (49.1 %) (14.95) 92.7 % (35.73) 85.1 %
Q3 2020 115.97 (37.8 %) (6.24) (132.0 %) (26.97) (1,311.1 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2011 34.30 (31.4 %) 1.13 2.60 31.70 1.05
Q2 2011 38.88 (14.7 %) 1.29 4.68 34.21 1.13
Q3 2011 43.59 2.7 % 1.44 1.98 41.61 1.38
Q4 2011 34.47 27.3 % 1.14 0.54 33.93 1.12
Q1 2012 35.18 2.6 % 1.16 - 35.18 1.16
Q2 2012 30.39 (21.8 %) 1.00 - 30.39 1.00
Q3 2012 16.22 (62.8 %) 0.54 - 16.22 0.54
Q4 2012 29.55 (14.3 %) 0.98 - 29.55 0.98
Q1 2013 30.33 (13.8 %) 1.00 - 30.33 1.00
Q2 2013 30.66 0.9 % 1.01 - 30.66 1.01
Q3 2013 17.59 8.5 % 0.58 - 17.59 0.58
Q4 2013 34.02 15.1 % 1.12 - 34.02 1.12
Q1 2014 20.59 (32.1 %) 0.68 - 20.59 0.68
Q2 2014 24.56 (19.9 %) 0.81 1.17 23.39 0.77
Q3 2014 17.58 (0.1 %) 0.58 21.10 (3.53) (0.12)
Q4 2014 19.89 (41.5 %) 0.66 (14.86) 34.75 1.15
Q1 2015 25.86 25.6 % 0.85 - 25.86 0.85
Q2 2015 25.98 5.8 % 0.86 - 25.98 0.86
Q3 2015 27.06 54.0 % 0.89 - 27.06 0.89
Q4 2015 22.47 13.0 % 0.74 - 22.47 0.74
Q1 2016 0.51 (98.0 %) 0.02 - 0.51 0.02
Q2 2016 1.56 (94.0 %) 0.05 - 1.56 0.05
Q3 2016 (33.58) (224.1 %) (1.11) - (33.58) (1.11)
Q4 2016 (201.68) (997.5 %) (6.67) - (201.68) (6.67)
Q1 2017 (45.75) (9036.1 %) (1.51) - (45.75) (1.51)
Q2 2017 (14.51) (1033.3 %) (0.48) - (14.51) (0.48)
Q3 2017 6.41 119.1 % 0.21 63.60 (57.19) (1.89)
Q4 2017 (50.47) 75.0 % (1.67) - (50.47) (1.67)
Q1 2018 (39.98) 12.6 % (1.32) - (39.98) (1.32)
Q2 2018 (53.26) (267.0 %) (1.76) - (53.26) (1.76)
Q3 2018 1.42 (77.8 %) 0.05 - 1.42 0.05
Q4 2018 (141.71) (180.8 %) (4.69) (16.00) (125.71) (4.16)
Q1 2019 (40.37) (1.0 %) (1.33) - (40.37) (1.33)
Q2 2019 (255.75) (380.2 %) (8.46) - (255.75) (8.46)
Q3 2019 (4.97) (449.3 %) (0.16) - (4.97) (0.16)
Q4 2019 (37.39) 73.6 % (1.24) - (37.39) (1.24)
Q1 2020 (131.29) (225.3 %) (4.34) (63.30) (68.00) (2.25)
Q2 2020 (57.30) 77.6 % (1.89) (1.68) (55.62) (1.84)
Q3 2020 (55.50) (1,016.4 %) (1.83) (12.97) (42.53) (1.41)

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2011 21.63 % 13.99 % 4.62 %
Q2 2011 19.93 % 12.29 % 4.20 %
Q3 2011 18.90 % 12.83 % 3.96 %
Q4 2011 18.05 % 13.35 % 3.97 %
Q1 2012 17.44 % 12.52 % 3.93 %
Q2 2012 16.97 % 12.55 % 3.79 %
Q3 2012 16.52 % 12.19 % 3.23 %
Q4 2012 16.11 % 10.92 % 3.22 %
Q1 2013 15.85 % 10.97 % 3.12 %
Q2 2013 16.02 % 10.93 % 3.19 %
Q3 2013 15.60 % 10.61 % 3.24 %
Q4 2013 15.01 % 9.47 % 3.60 %
Q1 2014 14.74 % 8.73 % 3.46 %
Q2 2014 14.14 % 8.17 % 3.35 %
Q3 2014 14.27 % 7.67 % 2.74 %
Q4 2014 15.59 % 10.14 % 2.76 %
Q1 2015 15.50 % 10.89 % 2.92 %
Q2 2015 15.65 % 10.91 % 3.01 %
Q3 2015 17.05 % 12.54 % 3.98 %
Q4 2015 16.16 % 12.06 % 3.49 %
Q1 2016 16.65 % 12.06 % 2.78 %
Q2 2016 16.43 % 11.42 % 2.04 %
Q3 2016 15.33 % 9.58 % (0.43 %)
Q4 2016 10.07 % (2.40 %) (14.63 %)
Q1 2017 7.07 % (6.77 %) (22.36 %)
Q2 2017 5.15 % (10.57 %) (30.99 %)
Q3 2017 0.63 % (16.65 %) (39.82 %)
Q4 2017 15.80 % 5.49 % (21.30 %)
Q1 2018 17.12 % 5.54 % (20.84 %)
Q2 2018 15.32 % 3.48 % (26.26 %)
Q3 2018 19.40 % 9.47 % (15.77 %)
Q4 2018 10.14 % 5.72 % (22.96 %)
Q1 2019 8.13 % 3.58 % (22.22 %)
Q2 2019 (15.27 %) (7.30 %) (44.50 %)
Q3 2019 (21.40 %) (11.76 %) (49.54 %)
Q4 2019 (18.77 %) (9.98 %) (43.37 %)
Q1 2020 (23.68 %) (14.19 %) (51.61 %)
Q2 2020 3.50 % (4.51 %) (26.39 %)
Q3 2020 (0.67 %) (9.19 %) (36.43 %)


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2011 30.25 4.94 4.77 52.16
Q2 2011 30.25 4.72 4.40 53.65
Q3 2011 30.25 4.76 4.37 53.45
Q4 2011 30.25 5.00 4.68 54.07
Q1 2012 30.25 5.03 4.79 49.86
Q2 2012 30.25 4.75 4.67 49.88
Q3 2012 30.25 3.84 3.83 50.71
Q4 2012 30.25 3.68 3.68 51.84
Q1 2013 30.25 3.52 3.52 48.60
Q2 2013 30.25 3.53 3.53 49.30
Q3 2013 30.25 3.58 3.58 50.25
Q4 2013 30.25 3.72 3.72 51.72
Q1 2014 30.25 3.40 3.40 48.42
Q2 2014 30.25 3.20 3.16 49.07
Q3 2014 30.25 3.20 2.46 47.58
Q4 2014 30.25 2.73 2.49 47.45
Q1 2015 30.25 2.91 2.66 46.73
Q2 2015 30.25 2.95 2.75 47.55
Q3 2015 30.25 3.27 3.76 48.19
Q4 2015 30.25 3.35 3.35 48.38
Q1 2016 30.25 2.51 2.51 43.21
Q2 2016 30.25 1.71 1.71 41.29
Q3 2016 30.25 (0.30) (0.30) 40.25
Q4 2016 30.25 (7.71) (7.71) 32.22
Q1 2017 30.25 (9.24) (9.24) 31.10
Q2 2017 30.25 (9.77) (9.77) 31.68
Q3 2017 30.25 (8.45) (10.55) 33.04
Q4 2017 30.25 (3.45) (5.55) 31.97
Q1 2018 30.25 (3.26) (5.36) 30.92
Q2 2018 30.25 (4.54) (6.64) 27.92
Q3 2018 30.25 (4.70) (4.70) 27.96
Q4 2018 30.25 (7.72) (7.19) 22.12
Q1 2019 30.25 (7.73) (7.21) 20.13
Q2 2019 30.25 (14.43) (13.90) 11.94
Q3 2019 30.25 (14.64) (14.11) 11.04
Q4 2019 30.25 (11.19) (11.19) 11.15
Q1 2020 30.25 (14.20) (12.10) 7.07
Q2 2020 30.25 (7.64) (5.49) 5.57
Q3 2020 30.25 (9.31) (6.73) 4.40

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2011 23.41 24.23 2.22
Q2 2011 25.42 27.29 2.24
Q3 2011 20.88 22.73 1.86
Q4 2011 21.46 22.94 1.98
Q1 2012 25.84 27.12 2.61
Q2 2012 21.26 21.64 2.02
Q3 2012 27.39 27.52 2.08
Q4 2012 26.25 26.25 1.86
Q1 2013 26.50 26.50 1.92
Q2 2013 26.24 26.24 1.88
Q3 2013 26.28 26.28 1.87
Q4 2013 27.48 27.48 1.98
Q1 2014 32.53 32.53 2.28
Q2 2014 35.73 36.16 2.33
Q3 2014 39.27 51.02 2.64
Q4 2014 31.79 34.92 1.83
Q1 2015 28.72 31.36 1.79
Q2 2015 29.98 32.23 1.86
Q3 2015 21.02 18.27 1.42
Q4 2015 17.74 17.74 1.23
Q1 2016 24.63 24.63 1.43
Q2 2016 31.99 31.99 1.32
Q3 2016 NEG NEG 0.97
Q4 2016 NEG NEG 1.71
Q1 2017 NEG NEG 1.46
Q2 2017 NEG NEG 1.17
Q3 2017 NEG NEG 1.39
Q4 2017 NEG NEG 1.75
Q1 2018 NEG NEG 1.67
Q2 2018 NEG NEG 1.63
Q3 2018 NEG NEG 1.36
Q4 2018 NEG NEG 1.76
Q1 2019 NEG NEG 2.10
Q2 2019 NEG NEG 3.40
Q3 2019 NEG NEG 3.26
Q4 2019 NEG NEG 2.73
Q1 2020 NEG NEG 2.66
Q2 2020 NEG NEG 3.61
Q3 2020 NEG NEG 7.12

Business Segments (Million)

Compared With The
Period Pipe Manufacturing and technology Water Management elimination Technology
Q1 2011 683.75 85.40 - 9.73
Q2 2011 744.17 104.28 - 5.96
Q3 2011 767.42 135.61 - 4.58
Q4 2011 885.54 131.95 - 4.23
Q1 2012 821.06 75.10 - 3.86
Q2 2012 802.62 89.59 - 3.72
Q3 2012 677.99 76.51 - 5.19
Q4 2012 764.72 115.91 - 9.53
Q1 2013 800.56 58.63 - -
Q2 2013 750.55 79.84 - -
Q3 2013 645.51 115.28 - -
Q4 2013 583.55 96.74 - -
Q1 2014 615.72 81.89 - -
Q2 2014 700.99 15.88 - -
Q3 2014 586.18 37.07 - -
Q4 2014 619.72 68.35 - -
Q1 2015 664.05 67.31 - -
Q2 2015 652.32 61.29 - -
Q3 2015 641.38 78.77 - -
Q4 2015 626.64 116.87 - -
Q1 2016 516.75 37.54 - -
Q2 2016 454.65 54.06 - -
Q3 2016 - 62.75 - -
Q4 2016 336.51 22.30 (112.50) -
Q1 2017 221.56 13.56 (24.98) -
Q2 2017 190.64 37.53 (15.84) -
Q3 2017 121.90 40.28 (25.26) -
Q4 2017 185.99 66.84 (85.95) -
Q1 2018 191.22 24.73 (15.97) -
Q2 2018 178.12 41.42 (20.13) -
Q3 2018 250.65 53.84 (34.90) -
Q4 2018 202.20 55.58 20.75 -
Q1 2019 211.00 34.71 (12.67) -
Q2 2019 190.93 (20.23) (7.12) -
Q3 2019 153.55 39.06 (6.27) -
Q4 2019 151.09 52.11 (5.75) -
Q1 2020 152.84 16.29 (7.09) -
Q2 2020 74.85 11.91 (3.57) -
Q3 2020 111.50 10.22 (5.74) -


Financial Ratios
Current
Market Cap (M Riyal) 1,329.82
Enterprise Value (EV) (M) 1,517.52
Shares Outstanding ((M)) 44.55
EPS ( Riyal) (TTM) 10.23
Book Value (BV) ( Riyal) 21.07
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) 2.92
Price/book 1.42
Return on Average Assets (%) (TTM) 20.4
Return on Average Equity (%) (TTM) 79.8
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Share Price

Saudi Arabian Amiantit Co.
29.85
0.20 0.67 %

Saudi Arabian Amiantit Co. (AMIANTIT)

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