Maadaniyah narrows net loss to SAR 21 mln in 9M 2020

Maadaniyah narrows net loss to SAR 21 mln in 9M 2020

08/11/2020 Argaam Exclusive

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National Metal Manufacturing and Casting Co. (Maadaniyah) narrowed net loss after Zakat and tax to SAR 21 million for the first nine months of 2020, compared to SAR 51.4 million in the year-earlier period.

 



Financials (M)

Item 9m 2019 9m 2020 Change‬
Revenues 204.57 158.70 (22.4 %)
Gross Income 17.12 9.51 (44.4 %)
Operating Income (5.25) (15.61) (197.6 %)
Net Income (51.37) (21.03) 59.1 %
Average Shares 29.95 29.95 -
EPS (Riyals) (1.72) (0.70) 59.1 %

The improvement was attributed to lower cost of some production inputs, decrease in financial charges and a decline in Zakat provision. The firm also noted the impairment loss of goodwill of SAR 40.1 million in the same period last year.



Current Quarter Comparison (M)

Compared With The
Item Q3 2019 Q3 2020 Change‬
Revenues 58.05 41.33 (28.8 %)
Gross Income 1.86 3.81 104.9 %
Operating Income (4.69) (3.90) 16.9 %
Net Income (47.08) (5.86) 87.6 %
Average Shares 29.95 29.95 -
EPS (Riyals) (1.57) (0.20) 87.6 %

The company’s net loss after Zakat and tax stood 5.9 million in Q3 2020, against a loss of SAR 47.08 million in the same period last year, due to decrease in cost of some production inputs, lower selling and distributing expenses, partial collection from provision for doubtful accounts and decrease in financial charges, along with an increase in other income. The company recorded impairment loss of goodwill of SAR 40.1 million in Q3 2019.

 

On a quarterly basis, the company narrowed its net losses in Q3 2020.



Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2011 89.62 (2.8 %) 8.42 (44.4 %) 2.42 (75.3 %)
Q2 2011 96.90 4.4 % 11.78 (33.5 %) 4.54 (60.3 %)
Q3 2011 82.88 29.4 % 8.12 5.2 % 2.34 (0.7 %)
Q4 2011 92.06 33.9 % 5.80 69.3 % (0.85) 56.3 %
Q1 2012 95.35 6.4 % 9.66 14.7 % 3.95 63.3 %
Q2 2012 109.40 12.9 % 10.75 (8.7 %) 4.09 (9.9 %)
Q3 2012 107.83 30.1 % 9.68 19.3 % 2.96 26.5 %
Q4 2012 88.09 (4.3 %) 5.32 (8.4 %) (0.98) (14.5 %)
Q1 2013 98.87 3.7 % 11.23 16.3 % 4.53 14.8 %
Q2 2013 102.54 (6.3 %) 12.22 13.7 % 5.60 36.7 %
Q3 2013 87.91 (18.5 %) 9.11 (5.9 %) 3.29 11.2 %
Q4 2013 91.78 4.2 % 11.33 113.0 % 3.18 425.7 %
Q1 2014 110.75 12.0 % 17.78 58.4 % 10.32 127.6 %
Q2 2014 109.63 6.9 % 17.56 43.7 % 9.98 78.4 %
Q3 2014 94.13 7.1 % 16.21 78.0 % 9.43 186.2 %
Q4 2014 98.65 7.5 % 12.12 7.0 % 2.29 (28.1 %)
Q1 2015 114.77 3.6 % 21.35 20.1 % 13.55 31.4 %
Q2 2015 107.80 (1.7 %) 21.11 20.2 % 12.89 29.2 %
Q3 2015 95.00 0.9 % 17.28 6.6 % 9.44 0.1 %
Q4 2015 89.76 (9.0 %) 18.47 52.5 % 9.35 308.5 %
Q1 2016 79.11 (31.1 %) 21.47 0.6 % 13.22 (2.5 %)
Q2 2016 82.07 (23.9 %) 21.61 2.3 % 12.81 (0.7 %)
Q3 2016 50.11 (47.3 %) 9.73 (43.7 %) 2.71 (71.3 %)
Q4 2016 61.41 (31.6 %) 6.48 (64.9 %) (1.16) (112.4 %)
Q1 2017 65.88 (16.7 %) 12.04 (44.0 %) 3.34 (74.7 %)
Q2 2017 57.60 (29.8 %) 5.60 (74.1 %) (4.40) (134.4 %)
Q3 2017 68.14 36.0 % 6.62 (31.9 %) (0.12) (104.4 %)
Q4 2017 101.86 65.9 % 12.02 85.4 % 4.66 503.7 %
Q1 2018 82.02 24.5 % 9.49 (21.1 %) 1.88 (43.9 %)
Q2 2018 111.63 93.8 % 14.95 167.2 % 5.27 219.6 %
Q3 2018 101.60 49.1 % 11.17 68.7 % 1.90 1697.5 %
Q4 2018 95.92 (5.8 %) 12.30 2.3 % 4.11 (11.9 %)
Q1 2019 80.70 (1.6 %) 9.29 (2.2 %) 1.84 (1.8 %)
Q2 2019 65.82 (41.0 %) 5.97 (60.0 %) (2.40) (145.5 %)
Q3 2019 58.05 (42.9 %) 1.86 (83.3 %) (4.69) (346.8 %)
Q4 2019 58.68 (38.8 %) 0.13 (99.0 %) (8.12) (297.7 %)
Q1 2020 79.55 (1.4 %) 3.63 (61.0 %) (5.73) (411.3 %)
Q2 2020 37.82 (42.5 %) 2.08 (65.2 %) (5.98) (149.7 %)
Q3 2020 41.33 (28.8 %) 3.81 104.9 % (3.90) 16.9 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2011 1.21 (85.2 %) 0.04 - 1.21 0.04
Q2 2011 2.41 (76.3 %) 0.08 - 2.41 0.08
Q3 2011 1.16 (17.1 %) 0.04 - 1.16 0.04
Q4 2011 (1.59) 47.2 % (0.05) - (1.59) (0.05)
Q1 2012 2.85 135.2 % 0.10 - 2.85 0.10
Q2 2012 3.07 27.7 % 0.10 - 3.07 0.10
Q3 2012 1.84 58.7 % 0.06 - 1.84 0.06
Q4 2012 (1.88) (18.4 %) (0.06) - (1.88) (0.06)
Q1 2013 2.96 3.9 % 0.10 - 2.96 0.10
Q2 2013 4.23 37.6 % 0.14 - 4.23 0.14
Q3 2013 1.80 (2.3 %) 0.06 - 1.80 0.06
Q4 2013 1.72 191.2 % 0.06 - 1.72 0.06
Q1 2014 7.74 161.4 % 0.26 - 7.74 0.26
Q2 2014 8.82 108.6 % 0.29 - 8.82 0.29
Q3 2014 8.58 377.9 % 0.29 - 8.58 0.29
Q4 2014 (4.39) (355.4 %) (0.15) (9.39) 5.00 0.17
Q1 2015 12.47 61.3 % 0.42 - 12.47 0.42
Q2 2015 9.42 6.7 % 0.31 - 9.42 0.31
Q3 2015 8.93 4.1 % 0.30 - 8.93 0.30
Q4 2015 (1.48) 66.2 % (0.05) (11.73) 10.24 0.34
Q1 2016 11.67 (6.4 %) 0.39 - 11.67 0.39
Q2 2016 11.01 16.9 % 0.37 - 11.01 0.37
Q3 2016 1.52 (83.0 %) 0.05 - 1.52 0.05
Q4 2016 (2.20) (48.1 %) (0.07) - (2.20) (0.07)
Q1 2017 1.45 (87.6 %) 0.05 - 1.45 0.05
Q2 2017 (6.37) (157.9 %) (0.21) - (6.37) (0.21)
Q3 2017 (4.49) (395.6 %) (0.15) - (4.49) (0.15)
Q4 2017 (10.26) (366.9 %) (0.34) (4.92) (5.34) (0.18)
Q1 2018 (0.89) (161.0 %) (0.03) - (0.89) (0.03)
Q2 2018 3.75 158.8 % 0.13 - 3.75 0.13
Q3 2018 (0.62) 86.1 % (0.02) - (0.62) (0.02)
Q4 2018 2.29 122.3 % 0.08 - 2.29 0.08
Q1 2019 (0.19) 78.3 % (0.01) - (0.19) (0.01)
Q2 2019 (4.10) (209.3 %) (0.14) - (4.10) (0.14)
Q3 2019 (47.08) (7,469.5 %) (1.57) (40.09) (7.00) (0.23)
Q4 2019 (13.74) (700.6 %) (0.46) - (13.74) (0.46)
Q1 2020 (7.46) (3,786.5 %) (0.25) - (7.46) (0.25)
Q2 2020 (7.71) (88.1 %) (0.26) - (7.71) (0.26)
Q3 2020 (5.86) 87.6 % (0.20) - (5.86) (0.20)

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2011 11.83 % 9.61 % 3.10 %
Q2 2011 9.81 % 7.40 % 0.63 %
Q3 2011 9.39 % 6.99 % 0.52 %
Q4 2011 9.44 % 6.85 % 0.88 %
Q1 2012 9.63 % 7.16 % 1.31 %
Q2 2012 9.04 % 6.80 % 1.45 %
Q3 2012 8.87 % 6.54 % 1.52 %
Q4 2012 8.84 % 6.42 % 1.47 %
Q1 2013 9.15 % 6.54 % 1.48 %
Q2 2013 9.68 % 7.06 % 1.80 %
Q3 2013 10.04 % 7.55 % 1.88 %
Q4 2013 11.52 % 8.59 % 2.81 %
Q1 2014 12.83 % 9.75 % 3.94 %
Q2 2014 13.94 % 10.61 % 5.02 %
Q3 2014 15.48 % 11.90 % 6.61 %
Q4 2014 15.41 % 12.48 % 7.29 %
Q1 2015 16.12 % 13.34 % 8.36 %
Q2 2015 17.04 % 14.26 % 8.54 %
Q3 2015 17.27 % 14.38 % 8.61 %
Q4 2015 19.20 % 15.79 % 10.08 %
Q1 2016 21.08 % 17.19 % 10.83 %
Q2 2016 22.79 % 18.48 % 12.10 %
Q3 2016 23.68 % 19.21 % 11.44 %
Q4 2016 21.74 % 17.56 % 8.07 %
Q1 2017 19.21 % 14.87 % 4.54 %
Q2 2017 14.40 % 9.23 % (2.38 %)
Q3 2017 12.14 % 7.56 % (4.59 %)
Q4 2017 12.36 % 8.53 % (5.03 %)
Q1 2018 10.89 % 7.55 % (5.52 %)
Q2 2018 11.85 % 9.02 % (1.92 %)
Q3 2018 11.99 % 8.60 % (0.78 %)
Q4 2018 12.25 % 8.33 % 1.16 %
Q1 2019 12.24 % 8.27 % 1.34 %
Q2 2019 11.26 % 7.10 % (0.76 %)
Q3 2019 9.79 % 5.92 % (3.00 %)
Q4 2019 6.55 % 2.14 % (9.51 %)
Q1 2020 4.42 % (0.75 %) (12.32 %)
Q2 2020 3.28 % (2.41 %) (15.34 %)
Q3 2020 4.43 % (2.28 %) (15.99 %)


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2011 29.94 0.33 0.33 11.68
Q2 2011 29.94 0.07 0.07 11.76
Q3 2011 29.94 0.06 0.06 11.80
Q4 2011 29.94 0.11 0.11 11.75
Q1 2012 29.95 0.16 0.16 11.84
Q2 2012 29.95 0.18 0.18 11.94
Q3 2012 29.95 0.21 0.21 12.00
Q4 2012 29.95 0.20 0.20 11.94
Q1 2013 29.95 0.20 0.20 12.04
Q2 2013 29.95 0.24 0.24 12.18
Q3 2013 29.95 0.24 0.24 12.24
Q4 2013 29.95 0.36 0.36 12.30
Q1 2014 29.95 0.52 0.52 12.56
Q2 2014 29.95 0.67 0.67 12.85
Q3 2014 29.95 0.90 0.90 13.14
Q4 2014 29.95 0.69 1.01 12.99
Q1 2015 29.95 0.85 1.16 13.41
Q2 2015 29.95 0.87 1.18 13.23
Q3 2015 29.95 0.88 1.20 13.53
Q4 2015 29.95 0.98 1.37 13.48
Q1 2016 29.95 0.95 1.34 13.80
Q2 2016 29.95 1.01 1.40 13.70
Q3 2016 29.95 0.76 1.15 13.84
Q4 2016 29.95 0.73 0.73 13.69
Q1 2017 29.95 0.39 0.39 13.74
Q2 2017 29.95 (0.19) (0.19) 13.06
Q3 2017 29.95 (0.39) (0.39) 12.91
Q4 2017 29.95 (0.66) (0.49) 12.56
Q1 2018 29.95 (0.73) (0.57) 12.53
Q2 2018 29.95 (0.40) (0.23) 12.42
Q3 2018 29.95 (0.27) (0.10) 12.40
Q4 2018 29.95 0.15 0.15 12.45
Q1 2019 29.95 0.17 0.17 12.44
Q2 2019 29.95 (0.09) (0.09) 12.31
Q3 2019 29.95 (1.64) (0.30) 10.73
Q4 2019 29.95 (2.17) (0.84) 10.30
Q1 2020 29.95 (2.42) (1.08) 10.05
Q2 2020 29.95 (2.54) (1.20) 9.80
Q3 2020 29.95 (1.16) (1.16) 9.60

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2011 81.08 81.08 2.26
Q2 2011 More than 100 More than 100 2.17
Q3 2011 More than 100 More than 100 2.01
Q4 2011 More than 100 More than 100 2.88
Q1 2012 More than 100 More than 100 3.34
Q2 2012 More than 100 More than 100 2.11
Q3 2012 More than 100 More than 100 2.44
Q4 2012 More than 100 More than 100 2.30
Q1 2013 More than 100 More than 100 3.05
Q2 2013 More than 100 More than 100 3.24
Q3 2013 More than 100 More than 100 2.67
Q4 2013 93.80 93.80 2.73
Q1 2014 68.83 68.83 2.83
Q2 2014 61.23 61.23 3.19
Q3 2014 68.89 68.89 4.70
Q4 2014 47.17 32.48 2.52
Q1 2015 40.85 29.86 2.59
Q2 2015 44.90 33.02 2.96
Q3 2015 32.07 23.67 2.09
Q4 2015 28.26 20.19 2.05
Q1 2016 26.57 18.83 1.83
Q2 2016 27.20 19.58 2.00
Q3 2016 25.32 16.70 1.39
Q4 2016 35.63 35.63 1.91
Q1 2017 63.99 63.99 1.83
Q2 2017 NEG NEG 1.74
Q3 2017 NEG NEG 1.87
Q4 2017 NEG NEG 1.73
Q1 2018 NEG NEG 1.63
Q2 2018 NEG NEG 1.65
Q3 2018 NEG NEG 1.60
Q4 2018 More than 100 More than 100 1.51
Q1 2019 More than 100 More than 100 1.54
Q2 2019 NEG NEG 1.39
Q3 2019 NEG NEG 1.54
Q4 2019 NEG NEG 1.60
Q1 2020 NEG NEG 1.31
Q2 2020 NEG NEG 1.58
Q3 2020 NEG NEG 3.42

Business Segments (Million)

Compared With The
Period Transformative Industries engineering industries sector & metal
Q1 2011 67.95 21.67
Q2 2011 70.27 26.63
Q3 2011 59.67 23.21
Q4 2011 70.37 21.69
Q1 2012 63.98 31.37
Q2 2012 78.07 31.33
Q3 2012 80.22 27.62
Q4 2012 62.45 25.63
Q1 2013 69.05 29.81
Q2 2013 72.51 30.03
Q3 2013 65.06 22.69
Q4 2013 66.25 25.55
Q1 2014 73.92 36.84
Q2 2014 71.32 38.31
Q3 2014 70.30 23.83
Q4 2014 69.65 29.00
Q1 2015 84.21 30.56
Q2 2015 81.85 25.95
Q3 2015 73.97 21.03
Q4 2015 65.87 23.89
Q1 2016 55.05 24.06
Q2 2016 64.63 17.44
Q3 2016 37.77 12.34
Q4 2016 49.66 12.14
Q1 2017 53.22 12.67
Q2 2017 48.04 9.56
Q3 2017 59.25 8.90
Q4 2017 92.73 9.13
Q1 2018 71.81 10.22
Q2 2018 102.04 9.59
Q3 2018 90.76 10.84
Q4 2018 81.40 14.52
Q1 2019 65.04 15.66
Q2 2019 49.53 16.29
Q3 2019 40.49 17.56
Q4 2019 39.72 18.96
Q1 2020 56.80 22.75
Q2 2020 21.93 15.89
Q3 2020 24.96 16.37


Financial Ratios
Current
Market Cap (M Riyal) 633.66
Enterprise Value (EV) (M) 612.93
Shares Outstanding ((M)) 35.40
EPS ( Riyal) (TTM) (1.16)
Book Value (BV) ( Riyal) 7.24
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 2.47
Return on Average Assets (%) (TTM) (10.26 )
Return on Average Equity (%) (TTM) (14.88 )
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Share Price

National Metal Manufacturing and Casting Co.
17.96
0.12 0.67 %

National Metal Manufacturing and Casting Co. (MAADANIYAH)

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