Zoujaj turns to losses of SAR 31 mln in FY19

Zoujaj turns to losses of SAR 31 mln in FY19

02/03/2020 Argaam Exclusive

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The National Company For Glass Industries (Zoujaj) reported a net loss after Zakat and tax of SAR 29.9 million for the fiscal year 2019 compared to a net profit of SAR 30.6 million a year earlier.



Financials (M)

Item 2018 2019 Change‬
Revenues 98.67 74.86 (24.1 %)
Gross Income 29.67 5.34 (82.0 %)
Operating Income 18.06 (6.24) (134.5 %)
Net Income 31.74 (31.32) (198.7 %)
Average Shares 32.90 32.90 -
EPS (Riyals) 0.96 (0.95) (198.7 %)

The losses were attributed to lower sales, decrease in associated company profit share and write offs worth SAR 26.9 million on associated company and inventory.

 

The company’s net loss widened to SAR 27.25 million in Q4 2019 versus SAR 1 million in the year earlier period.



Current Quarter Comparison (M)

Compared With The
Item Q4 2018 Q4 2019 Change‬
Revenues 20.28 14.91 (26.5 %)
Gross Income 4.70 (0.65) (113.9 %)
Operating Income 3.37 (4.07) (220.6 %)
Net Income 0.14 (27.97) (20663.2 %)
Average Shares 32.90 32.90 -
EPS (Riyals) 0.00 (0.85) (20663.2 %)


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2010 30.22 (16.3 %) 13.88 (27.0 %) 11.27 (30.6 %)
Q2 2010 28.29 (10.9 %) 12.22 (22.4 %) 9.85 (26.8 %)
Q3 2010 24.67 (7.7 %) 10.72 (21.7 %) 7.93 (29.7 %)
Q4 2010 27.62 (0.3 %) 13.15 3.9 % 11.06 5.5 %
Q1 2011 31.66 4.7 % 13.19 (5.0 %) 9.89 (12.3 %)
Q2 2011 32.76 15.8 % 12.16 (0.5 %) 9.52 (3.4 %)
Q3 2011 27.17 10.1 % 9.45 (11.9 %) 7.10 (10.5 %)
Q4 2011 26.39 (4.5 %) 8.84 (32.8 %) 6.16 (44.3 %)
Q1 2012 25.58 (19.2 %) 9.82 (25.5 %) 6.69 (32.3 %)
Q2 2012 30.06 (8.2 %) 12.14 (0.1 %) 9.14 (3.9 %)
Q3 2012 26.47 (2.6 %) 9.84 4.1 % 6.90 (2.8 %)
Q4 2012 30.65 16.1 % 10.04 13.6 % 6.80 10.5 %
Q1 2013 24.21 (5.4 %) 8.59 (12.6 %) 5.23 (21.9 %)
Q2 2013 28.96 (3.7 %) 11.56 (4.8 %) 8.35 (8.7 %)
Q3 2013 24.22 (8.5 %) 8.47 (13.9 %) 5.88 (14.7 %)
Q4 2013 24.64 (19.6 %) 8.57 (14.6 %) 5.30 (22.1 %)
Q1 2014 29.88 23.4 % 10.63 23.8 % 7.69 47.1 %
Q2 2014 21.24 (26.7 %) 6.39 (44.8 %) 3.10 (62.9 %)
Q3 2014 23.66 (2.3 %) 9.30 9.8 % 6.44 9.5 %
Q4 2014 25.25 2.5 % 10.41 21.4 % 7.25 36.8 %
Q1 2015 27.81 (6.9 %) 10.68 0.5 % 7.62 (1.0 %)
Q2 2015 23.17 9.1 % 8.48 32.8 % 5.48 76.9 %
Q3 2015 20.24 (14.5 %) 5.14 (44.8 %) 2.13 (66.9 %)
Q4 2015 32.67 29.4 % 11.40 9.5 % 7.06 (2.6 %)
Q1 2016 33.73 21.3 % 12.08 13.1 % 8.99 18.0 %
Q2 2016 32.85 41.8 % 9.50 12.0 % 6.42 17.2 %
Q3 2016 17.01 (16.0 %) 2.34 (54.4 %) (0.41) (119.4 %)
Q4 2016 17.24 (47.2 %) 3.06 (73.2 %) 0.21 (97.0 %)
Q1 2017 36.47 8.1 % 11.06 (8.4 %) 7.28 (19.0 %)
Q2 2017 26.49 (19.4 %) 7.21 (24.2 %) 4.29 (33.2 %)
Q3 2017 31.67 86.2 % 5.57 138.0 % 2.25 642.5 %
Q4 2017 22.27 29.2 % 2.48 (19.1 %) (2.42) (1251.9 %)
Q1 2018 24.65 (32.4 %) 8.72 (21.2 %) 5.03 (30.9 %)
Q2 2018 29.18 10.2 % 9.35 29.8 % 5.91 38.0 %
Q3 2018 24.56 (22.4 %) 6.90 23.8 % 3.74 66.7 %
Q4 2018 20.28 (8.9 %) 4.70 89.5 % 3.37 239.4 %
Q1 2019 25.97 5.4 % 6.48 (25.6 %) 3.53 (29.9 %)
Q2 2019 20.40 (30.1 %) 2.24 (76.0 %) (0.48) (108.1 %)
Q3 2019 13.58 (44.7 %) (2.73) (139.6 %) (5.22) (239.4 %)
Q4 2019 14.91 (26.5 %) (0.65) (113.9 %) (4.07) (220.6 %)
2019 74.86 (24.1 %) 5.34 (82.0 %) (6.24) (134.5 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2010 17.43 (15.4 %) 0.58 - 17.43 0.58
Q2 2010 18.96 83.2 % 0.63 - 18.96 0.63
Q3 2010 20.20 102.9 % 0.67 - 20.20 0.67
Q4 2010 14.46 214.1 % 0.48 - 14.46 0.48
Q1 2011 24.96 43.2 % 0.83 - 24.96 0.83
Q2 2011 29.70 56.7 % 0.99 - 29.70 0.99
Q3 2011 21.15 4.7 % 0.70 - 21.15 0.70
Q4 2011 5.32 (63.3 %) 0.18 - 5.32 0.18
Q1 2012 17.71 (29.1 %) 0.59 - 17.71 0.59
Q2 2012 15.86 (46.6 %) 0.53 - 15.86 0.53
Q3 2012 11.67 (44.8 %) 0.39 - 11.67 0.39
Q4 2012 (1.58) (129.7 %) (0.05) - (1.58) (0.05)
Q1 2013 8.62 (51.3 %) 0.29 - 8.62 0.29
Q2 2013 13.08 (17.5 %) 0.44 - 13.08 0.44
Q3 2013 13.40 14.8 % 0.45 - 13.40 0.45
Q4 2013 9.82 722.4 % 0.33 - 9.82 0.33
Q1 2014 14.83 72.0 % 0.49 - 14.83 0.49
Q2 2014 14.09 7.7 % 0.47 - 14.09 0.47
Q3 2014 16.86 25.8 % 0.56 - 16.86 0.56
Q4 2014 15.74 60.2 % 0.52 - 15.74 0.52
Q1 2015 18.64 25.7 % 0.62 - 18.64 0.62
Q2 2015 16.62 18.0 % 0.55 - 16.62 0.55
Q3 2015 6.30 (62.6 %) 0.21 - 6.30 0.21
Q4 2015 3.54 (77.5 %) 0.12 - 3.54 0.12
Q1 2016 13.66 (26.7 %) 0.46 - 13.66 0.46
Q2 2016 11.64 (30.0 %) 0.39 - 11.64 0.39
Q3 2016 4.70 (25.4 %) 0.16 - 4.70 0.16
Q4 2016 (7.82) (320.7 %) (0.26) (9.00) 1.19 0.04
Q1 2017 15.20 11.3 % 0.47 - 15.20 0.47
Q2 2017 37.61 223.2 % 1.17 26.75 10.85 0.34
Q3 2017 14.78 214.2 % 0.46 - 14.78 0.46
Q4 2017 (2.38) 69.6 % (0.07) (8.20) 5.82 0.18
Q1 2018 11.37 (25.2 %) 0.35 (5.60) 16.96 0.52
Q2 2018 11.56 (69.3 %) 0.35 (4.78) 16.34 0.50
Q3 2018 8.68 (41.3 %) 0.26 (5.42) 14.10 0.43
Q4 2018 0.14 105.7 % 0.00 (15.21) 15.35 0.47
Q1 2019 4.63 (59.3 %) 0.14 (3.22) 7.84 0.24
Q2 2019 (1.41) (112.2 %) (0.04) (0.69) (0.73) (0.02)
Q3 2019 (6.57) (175.7 %) (0.20) (0.66) (5.91) (0.18)
Q4 2019 (27.97) (20663.2 %) (0.85) (27.76) (0.21) (0.01)
2019 (31.32) (198.7 %) (0.95) (32.33) 1.01 0.03

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2010 48.08 % 51.21 % 36.37 %
Q2 2010 46.43 % 49.59 % 45.10 %
Q3 2010 44.62 % 47.25 % 55.19 %
Q4 2010 45.10 % 47.36 % 64.12 %
Q1 2011 43.90 % 45.40 % 70.02 %
Q2 2011 42.16 % 43.31 % 76.54 %
Q3 2011 40.21 % 41.73 % 75.73 %
Q4 2011 36.98 % 38.01 % 68.76 %
Q1 2012 35.98 % 37.57 % 66.02 %
Q2 2012 36.86 % 38.30 % 54.97 %
Q3 2012 37.46 % 38.40 % 46.60 %
Q4 2012 37.10 % 37.23 % 38.72 %
Q1 2013 36.45 % 36.00 % 31.04 %
Q2 2013 36.29 % 35.14 % 28.84 %
Q3 2013 35.78 % 34.67 % 31.03 %
Q4 2013 36.46 % 35.04 % 44.04 %
Q1 2014 36.43 % 35.32 % 47.48 %
Q2 2014 34.07 % 32.67 % 52.15 %
Q3 2014 35.10 % 32.17 % 55.92 %
Q4 2014 36.72 % 32.85 % 61.49 %
Q1 2015 37.55 % 31.98 % 66.68 %
Q2 2015 38.92 % 32.33 % 67.93 %
Q3 2015 35.98 % 29.97 % 59.40 %
Q4 2015 34.37 % 31.29 % 43.42 %
Q1 2016 33.79 % 34.71 % 36.54 %
Q2 2016 31.90 % 36.13 % 29.41 %
Q3 2016 30.38 % 37.26 % 28.85 %
Q4 2016 26.76 % 36.55 % 30.93 %
Q1 2017 25.07 % 35.55 % 31.60 %
Q2 2017 24.35 % 37.55 % 32.86 %
Q3 2017 24.05 % 36.80 % 37.56 %
Q4 2017 22.52 % 34.31 % 39.91 %
Q1 2018 22.82 % 35.90 % 46.08 %
Q2 2018 24.24 % 36.67 % 50.02 %
Q3 2018 27.27 % 40.70 % 52.88 %
Q4 2018 30.07 % 47.29 % 63.60 %
Q1 2019 27.43 % 45.31 % 53.63 %
Q2 2019 22.28 % 42.24 % 40.08 %
Q3 2019 13.33 % 36.44 % 20.64 %
Q4 2019 7.14 % 28.99 % 1.34 %
2019 7.14 % 29.00 % 1.34 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2010 30.00 1.41 1.41 15.94
Q2 2010 30.00 1.70 1.70 15.78
Q3 2010 30.00 2.04 2.04 16.58
Q4 2010 30.00 2.37 2.37 17.50
Q1 2011 30.00 2.62 2.62 18.66
Q2 2011 30.00 2.98 2.98 18.06
Q3 2011 30.00 3.01 3.01 18.60
Q4 2011 30.00 2.70 2.70 19.12
Q1 2012 30.00 2.46 2.46 20.12
Q2 2012 30.00 2.00 2.00 18.25
Q3 2012 30.00 1.69 1.69 18.51
Q4 2012 30.00 1.46 1.46 18.81
Q1 2013 30.00 1.15 1.15 19.08
Q2 2013 30.00 1.06 1.06 18.35
Q3 2013 30.00 1.12 1.12 19.03
Q4 2013 30.00 1.50 1.50 19.69
Q1 2014 30.00 1.70 1.70 20.41
Q2 2014 30.00 1.74 1.74 19.49
Q3 2014 30.00 1.85 1.85 20.04
Q4 2014 30.00 2.05 2.05 20.56
Q1 2015 30.00 2.18 2.18 21.18
Q2 2015 30.00 2.26 2.26 19.98
Q3 2015 30.00 1.91 1.91 19.19
Q4 2015 30.00 1.50 1.50 19.31
Q1 2016 30.00 1.34 1.34 19.73
Q2 2016 30.00 1.17 1.17 19.55
Q3 2016 30.00 1.12 1.12 18.93
Q4 2016 30.00 0.74 1.04 18.50
Q1 2017 32.18 0.74 1.02 19.06
Q2 2017 32.18 1.54 0.99 19.35
Q3 2017 32.18 1.86 1.31 19.30
Q4 2017 32.18 2.03 1.45 19.46
Q1 2018 32.90 1.87 1.47 19.53
Q2 2018 32.90 1.07 1.64 19.33
Q3 2018 32.90 0.89 1.62 19.77
Q4 2018 32.90 0.96 1.91 19.83
Q1 2019 32.90 0.76 1.63 20.21
Q2 2019 32.90 0.37 1.11 19.08
Q3 2019 32.90 (0.10) 0.50 18.88
Q4 2019 32.90 (0.95) 0.03 18.05

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2010 20.40 20.40 1.81
Q2 2010 14.53 14.53 1.56
Q3 2010 13.44 13.44 1.65
Q4 2010 12.87 12.87 1.74
Q1 2011 12.48 12.48 1.75
Q2 2011 12.41 12.41 2.05
Q3 2011 12.83 12.83 2.08
Q4 2011 14.48 14.48 2.05
Q1 2012 18.13 18.13 2.22
Q2 2012 15.35 15.35 1.68
Q3 2012 18.42 18.42 1.68
Q4 2012 19.29 19.29 1.49
Q1 2013 24.93 24.93 1.51
Q2 2013 25.66 25.66 1.48
Q3 2013 30.42 30.42 1.79
Q4 2013 21.97 21.97 1.67
Q1 2014 20.33 20.33 1.70
Q2 2014 23.97 23.97 2.14
Q3 2014 27.13 27.13 2.51
Q4 2014 17.51 17.51 1.75
Q1 2015 19.66 19.66 2.02
Q2 2015 19.84 19.84 2.25
Q3 2015 17.33 17.33 1.73
Q4 2015 19.19 19.19 1.49
Q1 2016 16.87 16.87 1.14
Q2 2016 19.52 19.52 1.17
Q3 2016 15.41 15.41 0.91
Q4 2016 29.51 20.99 1.18
Q1 2017 26.07 18.90 1.08
Q2 2017 13.15 20.46 1.03
Q3 2017 11.79 16.77 1.11
Q4 2017 10.63 14.86 1.08
Q1 2018 11.07 14.03 1.06
Q2 2018 18.67 12.23 1.04
Q3 2018 20.49 11.25 0.92
Q4 2018 18.66 9.44 0.91
Q1 2019 24.21 11.29 0.91
Q2 2019 48.97 16.11 0.94
Q3 2019 NEG 35.88 0.96
Q4 2019 NEG More than 100 0.98


Financial Ratios
Current
Market Cap (M Riyal) 1,911.49
Enterprise Value (EV) (M) 1,902.92
Shares Outstanding ((M)) 32.90
EPS ( Riyal) (TTM) 3.07
Book Value (BV) ( Riyal) 23.11
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 18.92
P/E (TTM) 18.92
Price/book 2.51
Return on Average Assets (%) (TTM) 12.5
Return on Average Equity (%) (TTM) 13.9
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Share Price

The National Company for Glass Industries
58.10
1.10 1.93 %

The National Company for Glass Industries (ZOUJAJ)

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