Hail Cement’s net profit fell 85% in 9M 2017

Hail Cement’s net profit fell 85% in 9M 2017

29/10/2017 Argaam Exclusive

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Hail Cement Co. reported a net profit of SAR 11.6 million for the first nine months of this year, plunging 85 percent year-on-year (YoY) due to lower demand, fierce competition and declining prices.



Financials (M)

Item 9m 2016 9m 2017 Change‬
Revenues 222.76 113.49 (49.1 %)
Gross Income 112.47 37.41 (66.7 %)
Operating Income 91.03 17.31 (81.0 %)
Net Income 78.45 11.59 (85.2 %)
Average Shares 97.90 97.90 -
EPS (Riyals) 0.80 0.12 (85.2 %)

Net profit for the third quarter tumbled 97 percent YoY to SAR 650,406 on lower demand, and prices as well as tough competition.

 

Q3 net profit declined 75.5 percent compared to the previous quarter on a decrease in average selling prices.



Current Quarter Comparison (M)

Compared With The
Item Q3 2016 Q3 2017 Change‬
Revenues 58.22 36.89 (36.6 %)
Gross Income 31.56 9.27 (70.6 %)
Operating Income 25.22 3.11 (87.7 %)
Net Income 19.31 0.65 (96.6 %)
Average Shares 97.90 97.90 -
EPS (Riyals) 0.20 0.01 (96.6 %)


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2008 - - - - - -
Q2 2008 - - - - - -
Q3 2008 - - - - - -
Q4 2008 - - - - - -
Q1 2009 - - - - - -
Q2 2009 - - - - - -
Q3 2009 - - - - - -
Q4 2009 - - - - - -
Q1 2010 - - - - - -
Q2 2010 - - - - - -
Q3 2010 - - - - - -
Q4 2010 - - - - - -
Q1 2011 - - - - - -
Q2 2011 - - - - - -
Q3 2011 - - - - - -
Q4 2011 - - - - - -
Q1 2012 - - - - (4.53) -
Q2 2012 - - - - (6.26) -
Q3 2012 - - - - (5.97) -
Q4 2012 - - - - (9.82) -
Q1 2013 - - - - - -
Q2 2013 54.67 - 26.36 - 18.44 394.6 %
Q3 2013 45.99 - 24.59 - 16.75 380.5 %
Q4 2013 58.35 - 29.78 - 28.82 393.6 %
Q1 2014 83.48 - 44.23 - 37.55 -
Q2 2014 100.71 84.2 % 54.60 107.2 % 48.88 165.1 %
Q3 2014 79.78 73.5 % 32.33 31.5 % 26.46 57.9 %
Q4 2014 91.81 57.3 % 52.85 77.5 % 45.20 56.8 %
Q1 2015 87.43 4.7 % 48.51 9.7 % 39.54 5.3 %
Q2 2015 99.68 (1.0 %) 38.01 (30.4 %) 31.02 (36.5 %)
Q3 2015 77.73 (2.6 %) 36.60 13.2 % 30.21 14.2 %
Q4 2015 91.52 (0.3 %) 41.16 (22.1 %) 33.81 (25.2 %)
Q1 2016 89.45 2.3 % 46.41 (4.3 %) 39.32 (0.6 %)
Q2 2016 75.09 (24.7 %) 34.50 (9.2 %) 26.50 (14.6 %)
Q3 2016 58.22 (25.1 %) 31.56 (13.8 %) 25.22 (16.5 %)
Q4 2016 49.36 (46.1 %) 22.81 (44.6 %) 14.94 (55.8 %)
Q1 2017 44.44 (50.3 %) 17.04 (63.3 %) 10.33 (73.7 %)
Q2 2017 32.16 (57.2 %) 11.11 (67.8 %) 3.87 (85.4 %)
Q3 2017 36.89 (36.6 %) 9.27 (70.6 %) 3.11 (87.7 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2008 - - - - - -
Q2 2008 - - - - - -
Q3 2008 - - - - - -
Q4 2008 - - - - - -
Q1 2009 - - - - - -
Q2 2009 - - - - - -
Q3 2009 - - - - - -
Q4 2009 - - - - - -
Q1 2010 - - - - - -
Q2 2010 - - - - - -
Q3 2010 - - - - - -
Q4 2010 - - - - - -
Q1 2011 - - - - - -
Q2 2011 - - - - - -
Q3 2011 - - - - - -
Q4 2011 - - - - - -
Q1 2012 (6.32) - (0.06) - (6.32) (0.06)
Q2 2012 (8.60) - (0.09) - (8.60) (0.09)
Q3 2012 (3.39) - (0.03) - (3.39) (0.03)
Q4 2012 (8.47) - (0.09) - (8.47) (0.09)
Q1 2013 (13.93) (120.2 %) (0.14) (13.80) (0.13) 0.00
Q2 2013 18.55 315.8 % 0.19 - 18.55 0.19
Q3 2013 16.94 599.9 % 0.17 - 16.94 0.17
Q4 2013 28.91 441.3 % 0.30 - 28.91 0.30
Q1 2014 35.10 352.0 % 0.36 - 35.10 0.36
Q2 2014 46.00 148.0 % 0.47 - 46.00 0.47
Q3 2014 25.10 48.2 % 0.26 - 25.10 0.26
Q4 2014 40.86 41.3 % 0.42 - 40.86 0.42
Q1 2015 37.50 6.8 % 0.38 - 37.50 0.38
Q2 2015 28.64 (37.7 %) 0.29 - 28.64 0.29
Q3 2015 17.45 (30.5 %) 0.18 - 17.45 0.18
Q4 2015 29.95 (26.7 %) 0.31 - 29.95 0.31
Q1 2016 32.30 (13.9 %) 0.33 - 32.30 0.33
Q2 2016 26.84 (6.3 %) 0.27 - 26.84 0.27
Q3 2016 19.31 10.7 % 0.20 - 19.31 0.20
Q4 2016 21.21 (29.2 %) 0.22 - 21.21 0.22
Q1 2017 8.28 (74.4 %) 0.08 - 8.28 0.08
Q2 2017 2.66 (90.1 %) 0.03 - 2.66 0.03
Q3 2017 0.65 (96.6 %) 0.01 - 0.65 0.01

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2008 - - -
Q2 2008 - - -
Q3 2008 - - -
Q4 2008 - - -
Q1 2009 - - -
Q2 2009 - - -
Q3 2009 - - -
Q4 2009 - - -
Q1 2010 - - -
Q2 2010 - - -
Q3 2010 - - -
Q4 2010 - - -
Q1 2011 - - -
Q2 2011 - - -
Q3 2011 - - -
Q4 2011 - - -
Q1 2012 - - -
Q2 2012 - - -
Q3 2012 - - -
Q4 2012 - - -
Q1 2013 - - -
Q2 2013 48.21 % 37.85 % 12.00 %
Q3 2013 50.60 % 58.82 % 26.71 %
Q4 2013 50.76 % 71.16 % 40.42 %
Q1 2014 51.53 % 68.21 % 41.03 %
Q2 2014 53.09 % 68.44 % 44.00 %
Q3 2014 49.93 % 64.55 % 41.92 %
Q4 2014 51.72 % 62.17 % 41.34 %
Q1 2015 52.34 % 61.76 % 41.55 %
Q2 2015 47.87 % 56.81 % 36.83 %
Q3 2015 49.34 % 58.03 % 34.89 %
Q4 2015 46.10 % 55.67 % 31.86 %
Q1 2016 45.25 % 55.58 % 30.23 %
Q2 2016 47.54 % 58.59 % 31.92 %
Q3 2016 48.88 % 60.93 % 34.49 %
Q4 2016 49.71 % 64.00 % 36.62 %
Q1 2017 46.63 % 63.96 % 33.30 %
Q2 2017 44.80 % 66.65 % 27.94 %
Q3 2017 36.98 % 61.87 % 20.14 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2008 - - - -
Q2 2008 - - - -
Q3 2008 - - - -
Q4 2008 - - - -
Q1 2009 - - - -
Q2 2009 - - - -
Q3 2009 - - - -
Q4 2009 - - - -
Q1 2010 - - - -
Q2 2010 - - - -
Q3 2010 - - - -
Q4 2010 - - - -
Q1 2011 - - - -
Q2 2011 - - - -
Q3 2011 - - - -
Q4 2011 - - - -
Q1 2012 97.90 - - 9.52
Q2 2012 97.90 - - 9.43
Q3 2012 97.90 - - 9.39
Q4 2012 97.90 (0.27) (0.27) 9.31
Q1 2013 97.90 (0.35) (0.21) 9.17
Q2 2013 97.90 (0.07) 0.07 9.36
Q3 2013 97.90 0.13 0.27 9.53
Q4 2013 97.90 0.52 0.66 9.82
Q1 2014 97.90 1.02 1.02 10.18
Q2 2014 97.90 1.30 1.30 10.65
Q3 2014 97.90 1.38 1.38 10.41
Q4 2014 97.90 1.50 1.50 10.83
Q1 2015 97.90 1.53 1.53 11.21
Q2 2015 97.90 1.35 1.35 10.90
Q3 2015 97.90 1.27 1.27 10.48
Q4 2015 97.90 1.16 1.16 10.79
Q1 2016 97.90 1.11 1.11 10.62
Q2 2016 97.90 1.09 1.09 10.91
Q3 2016 97.90 1.11 1.11 10.61
Q4 2016 97.90 1.02 1.02 10.79
Q1 2017 97.90 0.77 0.77 10.88
Q2 2017 97.90 0.53 0.53 10.45
Q3 2017 97.90 0.33 0.33 10.46

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 - - -
Q2 2009 - - -
Q3 2009 - - -
Q4 2009 - - -
Q1 2010 - - -
Q2 2010 - - -
Q3 2010 - - -
Q4 2010 - - -
Q1 2011 - - -
Q2 2011 - - -
Q3 2011 - - -
Q4 2011 - - -
Q1 2012 - - 2.64
Q2 2012 - - 1.80
Q3 2012 - - 2.01
Q4 2012 NEG NEG 1.99
Q1 2013 NEG NEG 2.08
Q2 2013 NEG More than 100 2.15
Q3 2013 More than 100 79.55 2.29
Q4 2013 41.32 32.45 2.17
Q1 2014 23.17 23.17 2.31
Q2 2014 19.93 19.93 2.43
Q3 2014 21.24 21.24 2.82
Q4 2014 15.19 15.19 2.11
Q1 2015 14.75 14.75 2.01
Q2 2015 15.87 15.87 1.96
Q3 2015 13.27 13.27 1.61
Q4 2015 12.38 12.38 1.33
Q1 2016 11.22 11.22 1.17
Q2 2016 11.41 11.41 1.14
Q3 2016 9.38 9.38 0.98
Q4 2016 11.75 11.75 1.11
Q1 2017 14.43 14.43 1.03
Q2 2017 18.38 18.38 0.92
Q3 2017 26.87 26.87 0.86


Financial Ratios
Current
Market Cap (M Riyal) 1,135.64
Enterprise Value (EV) (M) 1,030.72
Shares Outstanding ((M)) 97.90
EPS ( Riyal) (TTM) 0.22
Book Value (BV) ( Riyal) 10.02
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) More than 100
P/E (TTM) More than 100
Price/book 1.16
Return on Average Assets (%) (TTM) 1.9
Return on Average Equity (%) (TTM) 2.0
more

Share Price

Hail Cement Co.
11.60
0.02 0.17 %

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