Financial Results : Saudi Ceramic incurs SAR 32 mln loss in 9M 2017

Saudi Ceramic incurs SAR 32 mln loss in 9M 2017

09/11/2017 Argaam Exclusive

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Saudi Ceramic Co. swung to a net loss of SAR 32.2 million for the first nine months of 2017, compared to a net profit of SAR 29.4 million in the same period last year, impacted by  lower sales amid slowdown in the building materials market due to seasonal factors.

 

Lower profit margins also weighed on the results, as the ceramic producer reduced its selling prices of some products to increase its market share in some markets. 



Financials (M)

Item 9m 2016 9m 2017 Change‬

In the third quarter, the company narrowed net losses by 16.4 percent YoY to SAR 39.2 million, due to a rise in other operating revenue, lower selling, general and administrative expenses .

 

A drop in the company’s net loss share from associates and lower zakat expenses also contributed to reducing the third-quarter net losses. When compared to the previous quarter, Q3 net losses widened from SAR 5,148, on the back of lower sales and higher zakat expenses. 



Current Quarter Comparison (M)

Compared With The
Item Q3 2016 Q3 2017 Change‬


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2008 199.71 - 69.83 - 37.38 -
Q2 2008 215.78 - 85.78 - 52.15 -
Q3 2008 226.11 - 86.36 - 53.16 -
Q4 2008 215.51 - 78.59 - 40.05 -
Q1 2009 - - - - - -
Q2 2009 - - - - - -
Q3 2009 - - - - - -
Q4 2009 - - - - - -
Q1 2010 268.19 - 100.71 - 58.07 -
Q2 2010 277.92 - 99.01 - 58.31 -
Q3 2010 254.76 - 90.23 - 48.42 -
Q4 2010 278.96 - 103.73 - 57.52 -
Q1 2011 306.36 14.2 % 112.11 11.3 % 64.93 11.8 %
Q2 2011 320.67 15.4 % 117.77 18.9 % 67.39 15.6 %
Q3 2011 269.71 5.9 % 107.50 19.1 % 55.72 15.1 %
Q4 2011 324.61 16.4 % 102.39 (1.3 %) 55.82 (3.0 %)
Q1 2012 - - - - - -
Q2 2012 - - - - - -
Q3 2012 - - - - - -
Q4 2012 - - - - - -
Q1 2013 406.29 - 152.19 - 91.03 -
Q2 2013 428.89 - 151.71 - 89.94 -
Q3 2013 383.50 - 138.68 - 76.48 -
Q4 2013 381.87 - 136.48 - 73.61 -
Q1 2014 424.02 4.4 % 153.61 0.9 % 88.47 (2.8 %)
Q2 2014 437.62 2.0 % 152.06 0.2 % 78.86 (12.3 %)
Q3 2014 385.64 0.6 % 131.82 (4.9 %) 56.04 (26.7 %)
Q4 2014 374.07 (2.0 %) 126.49 (7.3 %) 57.35 (22.1 %)
Q1 2015 - - - - - -
Q2 2015 - - - - - -
Q3 2015 - - - - - -
Q4 2015 - - - - - -
Q1 2016 - - - - - -
Q2 2016 - - - - - -
Q3 2016 - - - - - -
Q4 2016 - - - - - -
2016 - - - - - -
Q1 2017 315.35 - 81.02 - 16.13 -
Q2 2017 274.69 - 65.29 - 2.89 -
Q3 2017 224.14 - 24.26 - (29.17) -


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items Earnings Per Share before unusual items
Q1 2008 38.36 - 0.38 - 38.36 0.38
Q2 2008 51.73 - 0.52 - 51.73 0.52
Q3 2008 49.82 - 0.50 - 49.82 0.50
Q4 2008 37.98 - 0.38 - 37.98 0.38
Q1 2009 - - - - - -
Q2 2009 - - - - - -
Q3 2009 - - - - - -
Q4 2009 - - - - - -
Q1 2010 58.38 - 0.58 - 58.38 0.58
Q2 2010 57.87 - 0.58 - 57.87 0.58
Q3 2010 46.21 - 0.46 - 46.21 0.46
Q4 2010 58.13 - 0.58 - 58.13 0.58
Q1 2011 59.93 2.7 % 0.60 - 59.93 0.60
Q2 2011 65.38 13.0 % 0.65 - 65.38 0.65
Q3 2011 54.15 17.2 % 0.54 - 54.15 0.54
Q4 2011 52.55 (9.6 %) 0.53 - 52.55 0.53
Q1 2012 - - - - - -
Q2 2012 - - - - - -
Q3 2012 - - - - - -
Q4 2012 - - - - - -
Q1 2013 82.21 - 0.82 - 82.21 0.82
Q2 2013 82.18 - 0.82 - 82.18 0.82
Q3 2013 71.80 - 0.72 - 71.80 0.72
Q4 2013 73.25 - 0.73 - 73.25 0.73
Q1 2014 87.42 6.3 % 0.87 - 87.42 0.87
Q2 2014 84.09 2.3 % 0.84 2.46 81.63 0.82
Q3 2014 78.88 9.9 % 0.79 23.24 55.64 0.56
Q4 2014 59.83 (18.3 %) 0.60 17.98 41.85 0.42
Q1 2015 - - - - - -
Q2 2015 - - - - - -
Q3 2015 - - - - - -
Q4 2015 - - - - - -
Q1 2016 - - - - - -
Q2 2016 - - - - - -
Q3 2016 - - - - - -
Q4 2016 - - - - - -
2016 - - - - - -
Q1 2017 11.47 - 0.11 5.42 6.04 0.06
Q2 2017 (5.84) - (0.06) - (5.84) (0.06)
Q3 2017 (39.91) - (0.40) - (39.91) (0.40)

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2008 - - -
Q2 2008 - - -
Q3 2008 - - -
Q4 2008 - - -
Q1 2009 37.44 % 30.39 % 20.32 %
Q2 2009 36.50 % 29.18 % 19.79 %
Q3 2009 36.60 % 29.14 % 19.86 %
Q4 2009 - - -
Q1 2010 37.33 % 30.20 % 21.57 %
Q2 2010 37.19 % 30.61 % 21.37 %
Q3 2010 36.46 % 29.64 % 20.39 %
Q4 2010 36.46 % 29.91 % 20.43 %
Q1 2011 36.23 % 30.00 % 19.87 %
Q2 2011 36.51 % 30.41 % 19.78 %
Q3 2011 37.52 % 31.14 % 20.21 %
Q4 2011 36.01 % 29.85 % 19.00 %
Q1 2012 - - -
Q2 2012 - - -
Q3 2012 32.13 % 26.07 % 16.72 %
Q4 2012 32.77 % 26.73 % 17.11 %
Q1 2013 34.39 % 28.17 % 17.89 %
Q2 2013 35.00 % 28.91 % 18.41 %
Q3 2013 35.80 % 29.43 % 19.00 %
Q4 2013 36.18 % 29.46 % 19.33 %
Q1 2014 35.87 % 29.28 % 19.44 %
Q2 2014 35.70 % 28.79 % 19.31 %
Q3 2014 35.23 % 27.83 % 18.29 %
Q4 2014 34.78 % 27.19 % 16.44 %
Q1 2015 34.59 % 26.49 % 16.02 %
Q2 2015 35.09 % 26.86 % 15.93 %
Q3 2015 35.34 % 28.19 % 15.96 %
Q4 2015 35.10 % 27.32 % 16.30 %
Q1 2016 - - -
Q2 2016 - - -
Q3 2016 - - -
Q4 2016 - - -
Q1 2017 25.50 % 18.97 % 0.28 %
Q2 2017 23.36 % 17.91 % (2.63 %)
Q3 2017 20.92 % 17.01 % (4.20 %)


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Earnings Per Share before unusual items (Riyal) Book Value (BV)
Q1 2008 - - - -
Q2 2008 - - - -
Q3 2008 - - - -
Q4 2008 - - - -
Q1 2009 100.00 1.81 1.81 7.02
Q2 2009 100.00 1.81 1.81 7.54
Q3 2009 100.00 1.84 1.84 8.08
Q4 2009 - - - -
Q1 2010 100.00 2.14 2.14 8.41
Q2 2010 100.00 2.20 2.20 8.99
Q3 2010 100.00 2.14 2.14 9.45
Q4 2010 100.00 2.21 2.21 10.04
Q1 2011 100.00 2.22 2.22 9.75
Q2 2011 100.00 2.30 2.30 10.40
Q3 2011 100.00 2.38 2.38 10.94
Q4 2011 100.00 2.32 2.32 11.47
Q1 2012 - - - -
Q2 2012 - - - -
Q3 2012 100.00 2.34 2.34 12.40
Q4 2012 100.00 2.48 2.48 13.06
Q1 2013 100.00 2.67 2.67 13.88
Q2 2013 100.00 2.86 2.86 13.76
Q3 2013 100.00 3.02 3.02 14.48
Q4 2013 100.00 3.09 3.09 15.21
Q1 2014 100.00 3.15 3.15 16.08
Q2 2014 100.00 3.17 3.14 15.79
Q3 2014 100.00 3.24 2.98 16.58
Q4 2014 100.00 3.10 2.67 17.16
Q1 2015 100.00 3.07 2.63 17.99
Q2 2015 100.00 3.04 2.63 17.80
Q3 2015 100.00 2.88 2.59 18.42
Q4 2015 100.00 2.84 2.70 18.98
Q1 2016 - - - -
Q2 2016 - - - -
Q3 2016 - - - -
Q4 2016 - - - -
Q1 2017 100.00 (0.16) 0.04 18.33
Q2 2017 100.00 (0.50) (0.31) 17.77
Q3 2017 100.00 (0.43) (0.49) 17.39

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2008 - - -
Q2 2008 - - -
Q3 2008 - - -
Q4 2008 - - -
Q1 2009 12.45 12.45 3.21
Q2 2009 18.49 18.49 4.44
Q3 2009 16.76 16.76 3.82
Q4 2009 - - -
Q1 2010 14.20 14.20 3.62
Q2 2010 13.55 13.55 3.32
Q3 2010 16.40 16.40 3.71
Q4 2010 16.76 16.76 3.68
Q1 2011 15.43 15.43 3.52
Q2 2011 15.42 15.42 3.40
Q3 2011 14.04 14.04 3.05
Q4 2011 16.10 16.10 3.26
Q1 2012 - - -
Q2 2012 - - -
Q3 2012 13.82 13.82 2.61
Q4 2012 11.20 11.20 2.12
Q1 2013 11.72 11.72 2.25
Q2 2013 14.60 14.60 3.03
Q3 2013 14.71 14.71 3.07
Q4 2013 13.55 13.55 2.76
Q1 2014 16.31 16.31 3.19
Q2 2014 16.89 17.02 3.39
Q3 2014 16.95 18.41 3.31
Q4 2014 12.82 14.92 2.32
Q1 2015 12.65 14.75 2.16
Q2 2015 13.05 15.09 2.23
Q3 2015 10.18 11.34 1.59
Q4 2015 8.24 8.66 1.23
Q1 2016 - - -
Q2 2016 - - -
Q3 2016 - - -
Q4 2016 - - -
Q1 2017 NEG More than 100 0.79
Q2 2017 NEG NEG 0.83
Q3 2017 NEG NEG 0.76

Business Segments (Million)

Compared With The
Period Ceramic tile and sanitary ware sector Heaters sector
Q1 2008 155.61 44.10
Q2 2008 171.84 43.94
Q3 2008 176.99 49.11
Q4 2008 167.30 48.21
Q1 2009 180.35 51.29
Q2 2009 192.03 49.55
Q3 2009 185.62 52.00
Q4 2009 176.20 70.69
Q1 2010 203.05 65.13
Q2 2010 220.80 57.12
Q3 2010 201.80 52.96
Q4 2010 206.24 72.73
Q1 2011 234.66 71.70
Q2 2011 261.21 59.46
Q3 2011 216.65 53.06
Q4 2011 235.72 88.89
Q1 2012 276.26 83.90
Q2 2012 298.52 70.70
Q3 2012 271.12 75.05
Q4 2012 285.86 85.95
Q1 2013 313.82 92.47
Q2 2013 349.20 79.69
Q3 2013 314.46 69.04
Q4 2013 300.20 81.67
Q1 2014 336.95 87.06
Q2 2014 353.97 83.66
Q3 2014 304.32 81.32
Q4 2014 294.58 79.50
Q1 2015 365.19 81.86
Q2 2015 358.31 86.00
Q3 2015 293.40 61.18
Q4 2015 307.83 104.20
Q1 2016 289.14 83.66
Q2 2016 279.81 68.04
Q3 2016 180.46 51.98
Q4 2016 245.75 104.68
Q1 2017 234.30 81.05
Q2 2017 210.46 64.23
Q3 2017 168.81 55.32

Analysts Estimates (Million)

Item Q3 2017 (e) Q3 2017 (a) Change‬
Average (4.00) (39.91) (897.7 %)

Estimates vs Actual (Million)

Item Q3 2017 (e) Q3 2017 (a) Change
Riyad Capital (4.00) (39.91) (897.7) %


Financial Ratios
Current
Market Cap (M Riyal) 2,870.00
Enterprise Value (EV) (M) 3,564.66
Shares Outstanding ((M)) 100.00
EPS ( Riyal) (TTM) (0.72)
Book Value (BV) ( Riyal) 14.24
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 2.02
Return on Average Assets (%) (TTM) (2.59 )
Return on Average Equity (%) (TTM) (3.35 )
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Share Price

Saudi Ceramic Co.
28.70
(0.25) (0.86 %)

Saudi Ceramic Co. (SAUDI CERAMICS)

1 Day (0.86 %) 5 Days (0.86 %) 3 Months (17.05 %) 6 Months (7.42 %) Year 6.10 % 2 Years 10.00 % 5 Years 106.28 % All 90.50 %
Created with Highstock 6.0.710:1010:2010:3010:4010:5011:0011:1011:2011:3011:4011:5012:1012:3012:4012:5013:0013:1013:2013:3013:4014:0014:1014:2014:3014:4014:5015:1028.3028.4028.5028.6028.7028.8028.9029.0029.1029.20
Close : 28.70 | Apr 3, 15:16
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