Saudi Cable widens net losses to SAR 43.2 mln in Q1 2020

21/06/2020 Argaam Exclusive

View other reports

Saudi Cable Co. widened net losses after Zakat and tax by 34.6% to SAR 43.2 million for Q1 2020, from SAR 32.1 million a year earlier, due to lower trading volumes amid severe working capital requirements, higher expenses and increased loss share from associates.

Current Quarter Comparison (M)

Compared With The

Item	Q1 2019	Q1 2020	Change‬
Revenues	102.46	59.53	(41.9 %)
Gross Income	(9.00)	(17.31)	(92.4 %)
Operating Income	(26.69)	(37.95)	(42.2 %)
Net Income	(32.10)	(43.20)	(34.6 %)
Average Shares	4.18	6.67	59.6 %
EPS (Riyals)	(7.68)	(6.47)	15.7 %

Item	Q4 2019	Q1 2020	Change‬
Revenues	106.61	59.53	(44.2 %)
Gross Income	(12.45)	(17.31)	(39.0 %)
Operating Income	(21.60)	(37.95)	(75.7 %)
Net Income	12.38	(43.20)	(449.1 %)
Average Shares	4.18	6.67	59.6 %
EPS (Riyals)	2.96	(6.47)	(318.7 %)

The company swung to losses from a net profit of SAR 12.3 million in Q4 2019, on lower trading volumes amid severe working capital requirements, higher expenses and increased loss share from associates.

The cable producer also did not include one-off favorable adjustments such as zakat settlement waiver and derecognition of unclaimed liabilities.

Accumulated losses stood at SAR 50.61 million, or 14.03% of capital by the end of Q1 2020.

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
Q1 2011	829.96	68.4 %	59.02	102.4 %	20.27	1801.1 %	4.85
Q2 2011	799.29	59.6 %	60.40	345.4 %	22.56	185.1 %	5.40
Q3 2011	744.74	102.0 %	22.85	164.9 %	(14.77)	79.3 %	(3.53)
Q4 2011	825.57	66.8 %	1.23	(88.7 %)	(22.95)	(350.8 %)	(5.49)
2011	3,199.57	72.3 %	143.51	679.4 %	5.11	105.8 %	1.22
Q1 2012	917.64	10.6 %	80.03	35.6 %	25.16	24.1 %	6.02
Q2 2012	860.71	7.7 %	77.74	28.7 %	20.18	(10.6 %)	4.83
Q3 2012	615.43	(17.4 %)	39.55	73.1 %	(13.68)	7.4 %	(3.27)
Q4 2012	294.06	(64.4 %)	(111.45)	(9183.0 %)	(188.07)	(719.5 %)	(44.99)
2012	2,687.85	(16.0 %)	85.88	(40.2 %)	(156.41)	(3163.8 %)	(37.42)
Q1 2013	669.34	(27.1 %)	49.07	(38.7 %)	(15.41)	(161.2 %)	(3.69)
Q2 2013	598.42	(30.5 %)	18.51	(76.2 %)	(131.75)	(753.0 %)	(31.52)
Q3 2013	617.36	0.3 %	46.05	16.4 %	(8.04)	41.2 %	(1.92)
Q4 2013	562.20	91.2 %	(3.75)	96.6 %	(73.92)	60.7 %	(17.68)
2013	2,447.86	(8.9 %)	70.38	(18.0 %)	(229.12)	(46.5 %)	(54.81)
Q1 2014	458.56	(31.5 %)	16.35	(66.7 %)	(41.13)	(166.9 %)	(9.84)
Q2 2014	434.54	(27.4 %)	0.95	(94.8 %)	(50.57)	61.6 %	(12.10)
Q3 2014	394.66	(36.1 %)	(1.44)	(103.1 %)	(50.05)	(522.6 %)	(11.97)
Q4 2014	404.74	(28.0 %)	(19.28)	(413.7 %)	(59.94)	18.9 %	(14.34)
2014	1,716.32	(29.9 %)	6.66	(90.5 %)	(201.68)	12.0 %	(48.25)
Q1 2015	498.35	8.7 %	29.34	79.5 %	(7.94)	80.7 %	(1.90)
Q2 2015	475.70	9.5 %	21.25	2127.6 %	0.88	101.7 %	0.21
Q3 2015	491.63	24.6 %	14.82	1128.4 %	(2.85)	94.3 %	(0.68)
Q4 2015	449.84	11.1 %	(1.25)	93.5 %	11.60	119.4 %	2.78
2015	1,918.06	11.8 %	68.41	926.6 %	1.69	100.8 %	0.40
Q1 2016	386.66	(22.4 %)	(13.77)	(146.9 %)	(58.66)	(638.6 %)	(14.03)
Q2 2016	474.84	(0.2 %)	36.89	73.6 %	(18.21)	(2167.3 %)	(4.36)
Q3 2016	348.48	(29.1 %)	15.71	6.0 %	4.87	270.7 %	1.17
Q4 2016	354.57	(21.2 %)	9.61	870.6 %	(154.30)	(1430.0 %)	(36.91)
2016	1,564.56	(18.4 %)	39.35	(42.5 %)	(235.39)	(14053.3 %)	(56.31)
Q1 2017	340.07	(12.1 %)	11.72	185.1 %	(23.65)	59.7 %	(5.66)
Q2 2017	351.41	(26.0 %)	10.05	(72.8 %)	39.38	316.2 %	9.42
Q3 2017	314.59	(9.7 %)	17.14	9.1 %	(34.49)	(808.1 %)	(8.25)
Q4 2017	336.29	(5.2 %)	12.89	34.1 %	(61.54)	60.1 %	(14.72)
2017	1,342.48	(14.2 %)	51.92	31.9 %	(80.31)	65.9 %	(19.21)
Q1 2018	275.07	(19.1 %)	0.15	(98.8 %)	(20.72)	12.4 %	(4.96)
Q2 2018	252.03	(28.3 %)	(3.24)	(132.2 %)	(97.24)	(346.9 %)	(23.26)
Q3 2018	178.97	(43.1 %)	(22.05)	(228.6 %)	(15.71)	54.5 %	(3.76)
Q4 2018	158.96	(52.7 %)	(70.73)	(648.8 %)	70.72	214.9 %	16.92
2018	865.02	(35.6 %)	(95.87)	(284.6 %)	(62.95)	21.6 %	(15.06)
Q1 2019	102.46	(62.8 %)	(9.00)	(6304.1 %)	(32.10)	(54.9 %)	(7.68)
Q2 2019	90.58	(64.1 %)	(12.07)	(273.0 %)	(18.32)	81.2 %	(4.38)
Q3 2019	81.63	(54.4 %)	(1.66)	92.5 %	(23.79)	(51.4 %)	(5.69)
Q4 2019	106.61	(32.9 %)	(12.45)	82.4 %	12.38	(82.5 %)	2.96
2019	381.27	(55.9 %)	(35.18)	63.3 %	(61.83)	1.8 %	(14.79)
Q1 2020	59.53	(41.9 %)	(17.31)	(92.4 %)	(43.20)	(34.6 %)	(6.47)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
2010	1,857.11	(24.5 %)	18.41	(94.1 %)	(87.82)	(184.1 %)	(21.01)
2011	3,199.57	72.3 %	143.51	679.4 %	5.11	105.8 %	1.22
2012	2,687.85	(16.0 %)	85.88	(40.2 %)	(156.41)	(3163.8 %)	(37.42)
2013	2,447.86	(8.9 %)	70.38	(18.0 %)	(229.12)	(46.5 %)	(54.81)
2014	1,716.32	(29.9 %)	6.66	(90.5 %)	(201.68)	12.0 %	(48.25)
2015	1,918.06	11.8 %	68.41	926.6 %	1.69	100.8 %	0.40
2016	1,564.56	(18.4 %)	39.35	(42.5 %)	(235.39)	(14053.3 %)	(56.31)
2017	1,342.48	(14.2 %)	51.92	31.9 %	(80.31)	65.9 %	(19.21)
2018	865.02	(35.6 %)	(95.87)	(284.6 %)	(62.95)	21.6 %	(15.06)
2019	381.27	(55.9 %)	(35.18)	63.3 %	(61.83)	1.8 %	(14.79)

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2011	2.20 %	(1.83 %)	(3.13 %)
Q2 2011	3.82 %	(0.09 %)	(0.78 %)
Q3 2011	5.34 %	1.72 %	1.30 %
Q4 2011	4.49 %	1.80 %	0.16 %
2011	4.49 %	1.80 %	0.16 %
Q1 2012	5.00 %	2.04 %	0.30 %
Q2 2012	5.43 %	2.36 %	0.23 %
Q3 2012	6.17 %	2.85 %	0.27 %
Q4 2012	3.20 %	(1.27 %)	(5.82 %)
2012	3.20 %	(1.27 %)	(5.82 %)
Q1 2013	2.25 %	(2.58 %)	(8.07 %)
Q2 2013	(0.20 %)	(9.90 %)	(16.02 %)
Q3 2013	0.10 %	(9.84 %)	(15.75 %)
Q4 2013	4.49 %	(4.17 %)	(9.36 %)
2013	2.88 %	(4.17 %)	(9.36 %)
Q1 2014	3.45 %	(6.29 %)	(11.39 %)
Q2 2014	2.88 %	(3.14 %)	(8.38 %)
Q3 2014	0.65 %	(5.47 %)	(11.66 %)
Q4 2014	(0.20 %)	(6.24 %)	(11.19 %)
2014	0.39 %	(6.16 %)	(11.03 %)
Q1 2015	0.55 %	(4.80 %)	(9.01 %)
Q2 2015	1.68 %	(2.83 %)	(6.95 %)
Q3 2015	2.47 %	(1.15 %)	(5.22 %)
Q4 2015	3.35 %	(0.50 %)	(5.26 %)
2015	3.57 %	(0.50 %)	(5.25 %)
Q1 2016	1.17 %	(2.50 %)	(8.40 %)
Q2 2016	2.04 %	(1.67 %)	(8.43 %)
Q3 2016	2.26 %	(1.96 %)	(9.90 %)
Q4 2016	3.10 %	(0.86 %)	(9.96 %)
2016	2.52 %	(1.44 %)	(10.54 %)
Q1 2017	4.87 %	1.51 %	(7.96 %)
Q2 2017	3.38 %	0.28 %	(10.06 %)
Q3 2017	3.57 %	0.50 %	(10.15 %)
Q4 2017	3.86 %	0.70 %	(11.72 %)
2017	3.87 %	0.70 %	(11.72 %)
Q1 2018	3.15 %	(0.67 %)	(14.04 %)
Q2 2018	2.29 %	(1.13 %)	(20.29 %)
Q3 2018	(1.18 %)	(5.13 %)	(25.69 %)
Q4 2018	(11.08 %)	(18.24 %)	(39.20 %)
2018	(11.08 %)	(18.24 %)	(39.20 %)
Q1 2019	(15.17 %)	(23.90 %)	(47.00 %)
Q2 2019	(21.44 %)	(35.73 %)	(46.43 %)
Q3 2019	(21.55 %)	(39.33 %)	(47.75 %)
Q4 2019	(9.23 %)	(19.05 %)	(16.22 %)
2019	(9.23 %)	(19.05 %)	(16.22 %)
Q1 2020	(12.85 %)	(24.76 %)	(21.56 %)

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2010	0.99 %	(3.30 %)	(4.73 %)
2011	4.49 %	1.80 %	0.16 %
2012	3.20 %	(1.27 %)	(5.82 %)
2013	2.88 %	(4.17 %)	(9.36 %)
2014	0.39 %	(6.16 %)	(11.03 %)
2015	3.57 %	(0.50 %)	(5.25 %)
2016	2.52 %	(1.44 %)	(10.54 %)
2017	3.87 %	0.70 %	(11.72 %)
2018	(11.08 %)	(18.24 %)	(39.20 %)
2019	(9.23 %)	(19.05 %)	(16.22 %)

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2011	7.11 %	5.13 %	2.44 %
Q2 2011	7.56 %	4.73 %	2.82 %
Q3 2011	3.07 %	0.05 %	(1.98 %)
Q4 2011	0.15 %	(2.80 %)	(2.78 %)
Q1 2012	8.72 %	5.67 %	2.74 %
Q2 2012	9.03 %	5.77 %	2.34 %
Q3 2012	6.43 %	2.14 %	(2.22 %)
Q4 2012	(37.90 %)	(50.65 %)	(63.95 %)
Q1 2013	7.33 %	3.45 %	(2.30 %)
Q2 2013	3.09 %	(17.21 %)	(22.02 %)
Q3 2013	7.46 %	2.31 %	(1.30 %)
Q4 2013	(0.67 %)	(6.47 %)	(13.15 %)
Q1 2014	3.56 %	(3.39 %)	(8.97 %)
Q2 2014	0.22 %	(6.33 %)	(11.64 %)
Q3 2014	(0.37 %)	(5.51 %)	(12.68 %)
Q4 2014	(4.76 %)	(10.09 %)	(11.76 %)
Q1 2015	5.89 %	1.41 %	(1.59 %)
Q2 2015	4.47 %	1.15 %	(3.73 %)
Q3 2015	3.01 %	1.41 %	(4.94 %)
Q4 2015	(0.28 %)	(6.43 %)	(11.29 %)
Q1 2016	(3.56 %)	(7.39 %)	(15.17 %)
Q2 2016	7.77 %	4.33 %	(3.84 %)
Q3 2016	4.51 %	1.27 %	(10.50 %)
Q4 2016	2.71 %	(2.77 %)	(11.95 %)
Q1 2017	3.45 %	2.31 %	(6.96 %)
Q2 2017	2.86 %	0.41 %	(10.71 %)
Q3 2017	5.45 %	2.34 %	(10.96 %)
Q4 2017	3.83 %	(2.17 %)	(18.30 %)
Q1 2018	0.05 %	(3.64 %)	(16.62 %)
Q2 2018	(1.28 %)	(1.34 %)	(38.58 %)
Q3 2018	(12.32 %)	(18.32 %)	(35.35 %)
Q4 2018	(44.49 %)	(70.23 %)	(83.57 %)
Q1 2019	(8.78 %)	(17.27 %)	(31.33 %)
Q2 2019	(13.33 %)	(30.50 %)	(20.22 %)
Q3 2019	(2.03 %)	(16.66 %)	(29.15 %)
Q4 2019	(11.68 %)	(12.88 %)	11.61 %
Q1 2020	(29.07 %)	(48.44 %)	(72.56 %)

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2011	4.18	(16.42)	(16.42)	280.97
Q2 2011	4.18	(4.68)	(4.68)	265.98
Q3 2011	4.18	8.90	8.90	229.61
Q4 2011	4.18	1.22	1.22	241.41
Q1 2012	4.18	2.39	2.39	257.47
Q2 2012	4.18	1.82	1.82	248.95
Q3 2012	4.18	2.08	2.08	272.18
Q4 2012	4.18	(37.42)	(37.42)	218.92
Q1 2013	4.18	(47.12)	(47.12)	198.95
Q2 2013	4.18	(83.47)	(83.47)	158.40
Q3 2013	4.18	(82.12)	(82.12)	177.55
Q4 2013	4.18	(54.81)	(54.81)	161.17
Q1 2014	4.18	(60.96)	(60.96)	138.77
Q2 2014	4.18	(41.54)	(41.54)	136.46
Q3 2014	4.18	(51.59)	(51.59)	121.79
Q4 2014	4.18	(48.25)	(45.30)	102.81
Q1 2015	4.18	(40.31)	(37.36)	101.26
Q2 2015	4.18	(28.00)	(29.50)	103.53
Q3 2015	4.18	(16.71)	(23.34)	99.73
Q4 2015	4.18	0.40	(24.11)	104.06
Q1 2016	4.18	(11.73)	(36.24)	95.36
Q2 2016	4.18	(16.30)	(36.36)	88.43
Q3 2016	4.18	(14.45)	(39.30)	92.92
Q4 2016	4.18	(54.14)	(37.28)	71.68
Q1 2017	4.18	(45.76)	(28.91)	64.29
Q2 2017	4.18	(31.99)	(33.55)	74.42
Q3 2017	4.18	(41.40)	(33.05)	67.25
Q4 2017	4.18	(19.21)	(37.63)	50.20
Q1 2018	4.18	(18.51)	(42.91)	(20.97)
Q2 2018	4.18	(51.19)	(57.17)	24.57
Q3 2018	4.18	(46.70)	(64.06)	21.02
Q4 2018	4.18	(15.06)	(81.11)	38.79
Q1 2019	4.18	(17.78)	(77.86)	31.60
Q2 2019	4.18	1.10	(58.98)	26.42
Q3 2019	4.18	(0.83)	(49.53)	21.41
Q4 2019	4.18	(14.79)	(14.79)	22.56
Q1 2020	6.67	(10.93)	(10.93)	44.54

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2010	4.18	(21.01)	(21.01)	283.16
2011	4.18	1.22	1.22	241.41
2012	4.18	(37.42)	(37.42)	218.92
2013	4.18	(54.81)	(54.81)	161.17
2014	4.18	(48.25)	(45.30)	102.81
2015	4.18	0.40	(24.11)	104.06
2016	4.18	(56.31)	(39.46)	71.68
2017	4.18	(19.21)	(37.63)	50.20
2018	4.18	(15.06)	(81.11)	38.79
2019	4.18	(14.79)	(14.79)	22.56

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2011	NEG	NEG	1.39
Q2 2011	NEG	NEG	1.56
Q3 2011	41.87	41.87	1.62
Q4 2011	More than 100	More than 100	1.68
Q1 2012	More than 100	More than 100	2.22
Q2 2012	More than 100	More than 100	1.72
Q3 2012	More than 100	More than 100	1.69
Q4 2012	NEG	NEG	1.77
Q1 2013	NEG	NEG	1.97
Q2 2013	NEG	NEG	2.42
Q3 2013	NEG	NEG	2.00
Q4 2013	NEG	NEG	2.27
Q1 2014	NEG	NEG	2.61
Q2 2014	NEG	NEG	2.61
Q3 2014	NEG	NEG	3.15
Q4 2014	NEG	NEG	2.61
Q1 2015	NEG	NEG	2.89
Q2 2015	NEG	NEG	2.49
Q3 2015	NEG	NEG	2.21
Q4 2015	More than 100	NEG	2.14
Q1 2016	NEG	NEG	2.13
Q2 2016	NEG	NEG	2.18
Q3 2016	NEG	NEG	1.44
Q4 2016	NEG	NEG	2.46
Q1 2017	NEG	NEG	2.59
Q2 2017	NEG	NEG	2.24
Q3 2017	NEG	NEG	2.48
Q4 2017	NEG	NEG	3.32
Q1 2018	NEG	NEG	(7.95)
Q2 2018	NEG	NEG	5.28
Q3 2018	NEG	NEG	4.73
Q4 2018	NEG	NEG	4.16
Q1 2019	NEG	NEG	5.72
Q2 2019	More than 100	NEG	5.92
Q3 2019	NEG	NEG	6.98
Q4 2019	NEG	NEG	7.10
Q1 2020	NEG	NEG	1.27

Period	P/E	Adjusted P/E	Price/book
2010	NEG	NEG	1.43
2011	More than 100	More than 100	1.68
2012	NEG	NEG	1.77
2013	NEG	NEG	2.27
2014	NEG	NEG	2.61
2015	More than 100	NEG	2.14
2016	NEG	NEG	2.46
2017	NEG	NEG	3.32
2018	NEG	NEG	4.16
2019	NEG	NEG	7.10

Business Segments (Million)

Compared With The

Period	Sale of Goods	Contract Revenue
Q3 2012	595.12	20.32
Q4 2012	204.37	89.69
Q1 2013	576.06	93.28
Q2 2013	522.87	75.55
Q3 2013	487.52	130.39
Q4 2013	487.40	105.39
Q1 2014	393.31	65.25
Q2 2014	414.10	20.45
Q3 2014	348.65	46.01
Q4 2014	407.12	21.44
Q1 2015	472.24	26.11
Q2 2015	461.29	14.41
Q3 2015	480.09	11.54
Q4 2015	422.83	38.96
Q1 2016	379.92	6.75
Q2 2016	444.91	29.93
Q3 2016	330.89	17.60
Q4 2016	324.95	67.48
Q1 2017	325.31	14.88
Q2 2017	332.95	18.46
Q3 2017	291.99	22.59
Q4 2017	293.43	42.86
Q1 2018	261.76	13.30
Q2 2018	232.45	19.58
Q3 2018	166.50	12.47
Q4 2018	140.51	18.44
Q1 2019	93.48	8.98
Q2 2019	70.23	20.35
Q3 2019	52.77	28.86
Q1 2020	41.57	17.97

Period	Sale of Goods	Contract Revenue
2012	2,458.18	-
2013	2,073.85	404.60
2014	1,563.18	153.14
2015	1,827.03	91.03
2016	1,480.65	83.90
2017	1,243.68	98.80
2018	801.22	63.80
2019	329.26	52.02

Financial Ratios

	Current
Market Cap (M Riyal)	513.74
Enterprise Value (EV) (M)	607.54
Shares Outstanding ((M))	6.67
EPS ( Riyal) (TTM)	(1.38)
Book Value (BV) ( Riyal)	(69.08)
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	Neg
P/E (TTM)	NEG
Price/book	(1.11)
Return on Average Assets (%) (TTM)	(1.30 )
Return on Average Equity (%) (TTM)	-

Saudi Cable Co. (SAUDI CABLE)

Twitter

Facebook

Linked in

Comments {{getCommentCount()}}

Be the first to comment

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

Sorry: the validity period has ended to comment on this news

Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Saudi Cable widens net losses to SAR 43.2 mln in Q1 2020

View other reports

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million)

Revenue by Business Segment (Latest) 2020 Q1

Financial Ratios

Share Price

Saudi Cable Co. (SAUDI CABLE)

Comments {{getCommentCount()}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}}

Saudi Cable widens net losses to SAR 43.2 mln in Q1 2020

View other reports

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million) Q1 2020

Revenue by Business Segment (Latest) 2020 Q1

Financial Ratios

Share Price

Saudi Cable Co. (SAUDI CABLE)

Comments {{getCommentCount()}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}}

Business Segments (Million)