Aslak net profit nearly triples to SAR 62.1 mln in 2020

Aslak net profit nearly triples to SAR 62.1 mln in 2020

31/01/2021 Argaam Exclusive

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United Wire Factories Co. (Aslak) reported an estimated net profit after Zakat and Tax of SAR 62.1 million for 2020, an increase of 181%, from SAR 22.1 million in FY2019.

 

The increase in profit was attributed to growth in sales volumes and higher profit margins, despite the increase in selling and distribution expenses as well as higher general and administrative expenses.



Financials (M)

Item 2019 2020 Change‬
Revenues 724.41 777.70 7.4 %
Gross Income 61.65 113.89 84.7 %
Operating Income 30.23 78.54 159.8 %
Net Income 22.12 62.15 181.0 %
Average Shares 28.08 28.08 -
EPS (Riyals) 0.79 2.21 181.0 %

The company reported a net profit after Zakat and tax of SAR 16.99 million for the fourth quarter of 2020, a surge of 247%, from SAR 4.89 million in the year-earlier period.



Current Quarter Comparison (M)

Compared With The
Item Q4 2019 Q4 2020 Change‬
Revenues 219.22 202.80 (7.5 %)
Gross Income 18.94 29.89 57.8 %
Operating Income 10.16 19.59 92.7 %
Net Income 4.89 17.04 248.4 %
Average Shares 28.08 28.08 -
EPS (Riyals) 0.17 0.61 248.4 %


Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Riyal)
Q1 2011 205.56 66.9 % 42.35 48.4 % 38.88 59.3 % 1.38
Q2 2011 226.57 40.3 % 34.88 (11.2 %) 30.77 (13.6 %) 1.10
Q3 2011 187.98 40.6 % 25.48 (25.7 %) 21.54 (24.7 %) 0.77
Q4 2011 234.97 54.4 % 21.74 (27.6 %) 15.73 (42.0 %) 0.56
Q1 2012 277.60 35.0 % 38.27 (9.6 %) 32.93 (15.3 %) 1.17
Q2 2012 283.21 25.0 % 35.30 1.2 % 30.14 (2.1 %) 1.07
Q3 2012 209.77 11.6 % 26.43 3.7 % 21.24 (1.4 %) 0.76
Q4 2012 234.64 (0.1 %) 37.79 73.8 % 31.04 97.4 % 1.11
Q1 2013 278.25 0.2 % 45.51 18.9 % 39.60 20.3 % 1.41
Q2 2013 268.15 (5.3 %) 40.66 15.2 % 33.77 12.0 % 1.20
Q3 2013 225.78 7.6 % 32.13 21.6 % 23.30 9.7 % 0.83
Q4 2013 229.15 (2.3 %) 32.32 (14.5 %) 24.65 (20.6 %) 0.88
Q1 2014 279.95 0.6 % 39.33 (13.6 %) 30.38 (23.3 %) 1.08
Q2 2014 262.36 (2.2 %) 37.73 (7.2 %) 30.02 (11.1 %) 1.07
Q3 2014 204.19 (9.6 %) 28.56 (11.1 %) 20.38 (12.5 %) 0.73
Q4 2014 206.35 (10.0 %) 21.79 (32.6 %) 12.87 (47.8 %) 0.46
Q1 2015 233.19 (16.7 %) 25.04 (36.4 %) 13.96 (54.1 %) 0.50
Q2 2015 268.77 2.4 % 37.80 0.2 % 24.94 (16.9 %) 0.89
Q3 2015 182.92 (10.4 %) 31.98 12.0 % 21.17 3.9 % 0.75
Q4 2015 218.49 5.9 % 25.51 17.1 % 12.14 (5.7 %) 0.43
Q1 2016 209.64 (10.1 %) 32.49 29.8 % 17.29 23.9 % 0.62
Q2 2016 196.81 (26.8 %) 56.48 49.4 % 38.61 54.8 % 1.38
Q3 2016 126.19 (31.0 %) 24.12 (24.6 %) 14.34 (32.3 %) 0.51
Q4 2016 157.39 (28.0 %) 23.72 (7.0 %) 11.65 (4.1 %) 0.41
Q1 2017 144.64 (31.0 %) 18.76 (42.2 %) 7.71 (55.4 %) 0.27
Q2 2017 135.13 (31.3 %) 12.19 (78.4 %) 0.49 (98.7 %) 0.02
Q3 2017 129.98 3.0 % 18.95 (21.4 %) 7.23 (49.6 %) 0.26
Q4 2017 167.01 6.1 % 18.76 (20.9 %) 10.14 (12.9 %) 0.36
Q1 2018 145.02 0.3 % 19.29 2.8 % 7.74 0.3 % 0.28
Q2 2018 145.56 7.7 % 15.78 29.4 % 7.32 1384.2 % 0.26
Q3 2018 106.65 (17.9 %) 8.67 (54.2 %) 0.49 (93.3 %) 0.02
Q4 2018 137.73 (17.5 %) 2.40 (87.2 %) (8.43) (183.1 %) (0.30)
Q1 2019 192.79 32.9 % 21.13 9.5 % 10.12 30.9 % 0.36
Q2 2019 144.10 (1.0 %) 13.17 (16.5 %) 6.01 (17.9 %) 0.21
Q3 2019 168.29 57.8 % 8.42 (3.0 %) 1.10 126.1 % 0.04
Q4 2019 219.22 59.2 % 18.94 689.1 % 4.89 158.0 % 0.17
Q1 2020 220.39 14.3 % 33.54 58.7 % 15.05 48.7 % 0.54
Q2 2020 194.33 34.9 % 22.13 68.0 % 12.25 103.9 % 0.44
Q3 2020 160.18 (4.8 %) 28.33 236.6 % 17.81 1517.7 % 0.63
Q4 2020 202.80 (7.5 %) 29.89 57.8 % 17.04 248.4 % 0.61
2020 777.70 7.4 % 113.89 84.7 % 62.15 181.0 % 2.21

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2011 22.35 % 23.14 % 19.94 %
Q2 2011 19.71 % 20.16 % 17.46 %
Q3 2011 17.19 % 17.39 % 15.31 %
Q4 2011 14.55 % 14.14 % 12.50 %
Q1 2012 12.98 % 12.44 % 10.89 %
Q2 2012 12.28 % 11.72 % 10.20 %
Q3 2012 12.11 % 11.47 % 9.95 %
Q4 2012 13.71 % 13.28 % 11.48 %
Q1 2013 14.42 % 13.97 % 12.13 %
Q2 2013 15.18 % 14.55 % 12.68 %
Q3 2013 15.50 % 14.55 % 12.68 %
Q4 2013 15.04 % 13.81 % 12.12 %
Q1 2014 14.40 % 12.89 % 11.18 %
Q2 2014 14.19 % 12.60 % 10.87 %
Q3 2014 14.14 % 12.61 % 10.81 %
Q4 2014 13.37 % 11.74 % 9.83 %
Q1 2015 12.48 % 10.73 % 8.52 %
Q2 2015 12.40 % 10.38 % 7.91 %
Q3 2015 13.08 % 10.92 % 8.18 %
Q4 2015 13.32 % 10.98 % 7.99 %
Q1 2016 14.52 % 11.86 % 8.59 %
Q2 2016 18.13 % 14.84 % 11.04 %
Q3 2016 18.45 % 14.87 % 10.97 %
Q4 2016 19.83 % 15.74 % 11.87 %
Q1 2017 19.69 % 15.44 % 11.57 %
Q2 2017 13.99 % 10.03 % 6.07 %
Q3 2017 12.98 % 9.27 % 4.77 %
Q4 2017 11.91 % 9.04 % 4.43 %
Q1 2018 11.99 % 9.30 % 4.44 %
Q2 2018 12.39 % 10.09 % 5.52 %
Q3 2018 11.08 % 8.71 % 4.55 %
Q4 2018 8.63 % 5.53 % 1.33 %
Q1 2019 8.23 % 5.45 % 1.63 %
Q2 2019 7.81 % 4.87 % 1.41 %
Q3 2019 7.02 % 4.38 % 1.37 %
Q4 2019 8.51 % 6.28 % 3.05 %
Q1 2020 9.85 % 7.33 % 4.41 %
Q2 2020 10.35 % 7.96 % 4.91 %
Q3 2020 12.96 % 10.43 % 7.06 %
Q4 2020 14.64 % 11.79 % 8.77 %
2020 14.64 % 11.79 % 8.77 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2011 28.08 4.64 4.64 13.00
Q2 2011 28.08 4.46 4.46 13.16
Q3 2011 28.08 4.21 4.21 13.89
Q4 2011 28.08 3.81 3.81 13.47
Q1 2012 28.08 3.60 3.60 13.42
Q2 2012 28.08 3.57 3.57 14.41
Q3 2012 28.08 3.56 3.56 15.08
Q4 2012 28.08 4.11 4.11 14.65
Q1 2013 28.08 4.35 4.35 15.96
Q2 2013 28.08 4.47 4.47 17.07
Q3 2013 28.08 4.55 4.55 16.05
Q4 2013 28.08 4.32 4.32 16.84
Q1 2014 28.08 3.99 3.99 17.84
Q2 2014 28.08 3.86 3.86 18.81
Q3 2014 28.08 3.75 3.75 17.48
Q4 2014 28.08 3.34 3.34 17.92
Q1 2015 28.08 2.75 2.75 17.59
Q2 2015 28.08 2.57 2.57 18.48
Q3 2015 28.08 2.60 2.60 17.99
Q4 2015 28.08 2.57 2.57 18.42
Q1 2016 28.08 2.69 2.69 17.99
Q2 2016 28.08 3.18 3.18 19.39
Q3 2016 28.08 2.93 2.93 18.31
Q4 2016 28.08 2.92 2.92 18.69
Q1 2017 28.08 2.58 2.58 17.95
Q2 2017 28.08 1.22 1.22 17.97
Q3 2017 28.08 0.96 0.96 18.22
Q4 2017 28.08 0.91 0.91 18.62
Q1 2018 28.08 0.91 0.91 18.90
Q2 2018 28.08 1.15 1.15 18.37
Q3 2018 28.08 0.91 0.91 18.39
Q4 2018 28.08 0.25 0.25 18.04
Q1 2019 28.08 0.34 0.34 18.40
Q2 2019 28.08 0.29 0.29 18.61
Q3 2019 28.08 0.31 0.31 18.26
Q4 2019 28.08 0.79 0.79 18.48
Q1 2020 28.08 0.96 1.18 19.01
Q2 2020 28.08 1.19 1.40 19.45
Q3 2020 28.08 1.78 2.00 15.71
Q4 2020 28.08 2.21 2.43 16.30

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2011 - - -
Q2 2011 - - -
Q3 2011 9.13 9.13 2.77
Q4 2011 11.11 11.11 3.14
Q1 2012 12.76 12.76 3.42
Q2 2012 9.93 9.93 2.46
Q3 2012 10.62 10.62 2.51
Q4 2012 8.37 8.37 2.35
Q1 2013 8.87 8.87 2.42
Q2 2013 10.44 10.44 2.74
Q3 2013 10.09 10.09 2.86
Q4 2013 10.98 10.98 2.82
Q1 2014 12.90 12.90 2.89
Q2 2014 15.53 15.53 3.19
Q3 2014 17.78 17.78 3.82
Q4 2014 13.79 13.79 2.57
Q1 2015 16.01 16.01 2.50
Q2 2015 17.25 17.25 2.40
Q3 2015 13.40 13.40 1.94
Q4 2015 11.44 11.44 1.60
Q1 2016 8.89 8.89 1.33
Q2 2016 9.91 9.91 1.62
Q3 2016 8.53 8.53 1.37
Q4 2016 11.80 11.80 1.84
Q1 2017 11.99 11.99 1.72
Q2 2017 20.56 20.56 1.39
Q3 2017 24.76 24.76 1.31
Q4 2017 23.34 23.34 1.14
Q1 2018 23.02 23.02 1.11
Q2 2018 20.28 20.28 1.27
Q3 2018 22.67 22.67 1.13
Q4 2018 74.95 74.95 1.05
Q1 2019 64.73 64.73 1.19
Q2 2019 66.75 66.75 1.04
Q3 2019 64.48 64.48 1.11
Q4 2019 29.48 29.48 1.26
Q1 2020 21.19 17.30 1.07
Q2 2020 22.48 19.01 1.37
Q3 2020 21.70 19.35 2.46
Q4 2020 18.14 16.52 2.46

Business Segments (Million)

Compared With The
Period Industrial sector Commercial sector
Q1 2011 154.63 50.93
Q2 2011 172.12 54.45
Q3 2011 145.60 42.39
Q4 2011 192.30 42.67
Q1 2012 227.91 49.69
Q2 2012 226.62 56.58
Q3 2012 164.76 45.00
Q4 2012 192.76 41.89
Q1 2013 233.41 44.84
Q2 2013 212.81 55.33
Q3 2013 176.34 49.44
Q4 2013 190.70 38.45
Q1 2014 212.67 67.27
Q2 2014 189.92 72.44
Q3 2014 145.91 58.28
Q4 2014 229.06 -
Q1 2015 195.39 37.79
Q2 2015 218.15 50.62
Q3 2015 138.48 44.44
Q4 2015 178.67 39.82
Q1 2016 177.61 32.02
Q2 2016 150.32 46.49
Q3 2016 89.78 36.41
Q4 2016 129.30 28.09
Q1 2017 119.83 24.81
Q2 2017 90.58 44.55
Q3 2017 95.03 34.94
Q4 2017 130.65 36.36
Q1 2018 118.53 26.49
Q2 2018 104.77 40.79
Q3 2018 69.78 36.87
Q4 2018 109.09 28.64
Q1 2019 160.48 32.31
Q2 2019 104.51 39.59
Q3 2019 133.75 34.54
Q4 2019 160.15 59.07
Q1 2020 184.73 35.66
Q2 2020 151.07 43.26
Q3 2020 123.62 36.44
Q4 2020 169.04 33.71


Financial Ratios
Current
Market Cap (M Riyal) 772.20
Enterprise Value (EV) (M) 721.83
Shares Outstanding ((M)) 28.08
EPS ( Riyal) (TTM) 0.78
Book Value (BV) ( Riyal) 13.46
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 35.15
P/E (TTM) 35.15
Price/book 2.04
Return on Average Assets (%) (TTM) 4.1
Return on Average Equity (%) (TTM) 5.3
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Share Price

United Wire Factories Co.
27.50
0.10 0.37 %

United Wire Factories Co. (ASLAK)

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