Al Babtain net profit drops 15% to SAR 52.1 mln in 9M 2020

Al Babtain net profit drops 15% to SAR 52.1 mln in 9M 2020

09/11/2020 Argaam Exclusive

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Al-Babtain Power and Telecommunication Co. reported net profit after Zakat and tax of SAR 52.1 million for the first nine months of 2020, a decline of 15% year-on-year (YoY), due to lower sales and other revenue, higher Zakat expenses and income tax estimate. 



Financials (M)

Item 9m 2019 9m 2020 Change‬
Revenues 1,081.51 1,036.79 (4.1 %)
Gross Income 159.64 145.78 (8.7 %)
Operating Income 59.69 71.96 20.6 %
Net Income 61.61 52.05 (15.5 %)
Average Shares 63.95 63.95 -
Earnings Per Share before unusual items 0.66 0.79 19.9 %
EPS (Riyals) 0.96 0.81 (15.5 %)

Net profit after Zakat and tax for the third quarter fell by 27% YoY to SAR 15.3 million, due to lower sales, along with higher Zakat expenses and income tax estimate.

 

On a quarter-on-quarter basis, Q3 2020 net profit plunged 25.6% on an increase in the cost of sales, higher Zakat charges, income tax estimate, and marketing expenses.



Current Quarter Comparison (M)

Compared With The
Item Q3 2019 Q3 2020 Change‬
Revenues 437.57 353.06 (19.3 %)
Gross Income 62.64 46.67 (25.5 %)
Operating Income 29.31 22.71 (22.5 %)
Net Income 20.95 15.31 (26.9 %)
Average Shares 63.95 63.95 -
Earnings Per Share before unusual items 0.29 0.24 (18.4 %)
EPS (Riyals) 0.33 0.24 (26.9 %)


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2011 235.27 2.2 % 36.51 (28.2 %) 16.79 (41.6 %)
Q2 2011 274.84 11.0 % 38.98 (31.4 %) 19.79 (44.1 %)
Q3 2011 228.39 (5.8 %) 44.00 (15.4 %) 25.78 (18.4 %)
Q4 2011 266.54 7.7 % 36.31 (15.8 %) 16.62 (18.4 %)
Q1 2012 276.90 17.7 % 31.35 (14.1 %) 12.61 (24.9 %)
Q2 2012 371.19 35.1 % 43.03 10.4 % 18.46 (6.7 %)
Q3 2012 341.70 49.6 % 69.79 58.6 % 11.36 (56.0 %)
Q4 2012 362.76 36.1 % (10.11) (127.8 %) (32.69) (296.7 %)
Q1 2013 320.05 15.6 % 50.32 60.5 % 14.77 17.1 %
Q2 2013 346.45 (6.7 %) 74.14 72.3 % 39.28 112.8 %
Q3 2013 319.47 (6.5 %) 64.56 (7.5 %) 20.98 84.7 %
Q4 2013 403.00 11.1 % 52.98 624.3 % 20.88 163.9 %
Q1 2014 293.77 (8.2 %) 62.11 23.4 % 25.17 70.4 %
Q2 2014 309.86 (10.6 %) 72.51 (2.2 %) 41.97 6.9 %
Q3 2014 295.02 (7.7 %) 68.90 6.7 % 47.95 128.6 %
Q4 2014 335.47 (16.8 %) 96.61 82.4 % 72.45 247.0 %
Q1 2015 385.18 31.1 % 86.81 39.8 % 31.49 25.1 %
Q2 2015 394.27 27.2 % 85.39 17.8 % 65.58 56.2 %
Q3 2015 366.20 24.1 % 77.38 12.3 % 41.80 (12.8 %)
Q4 2015 394.00 17.4 % 105.00 8.7 % 51.28 (29.2 %)
Q1 2016 338.75 (12.1 %) 89.20 2.8 % 49.80 58.1 %
Q2 2016 339.31 (13.9 %) 95.92 12.3 % 43.62 (33.5 %)
Q3 2016 246.69 (32.6 %) 68.15 (11.9 %) 37.18 (11.1 %)
Q4 2016 324.03 (17.8 %) 70.35 (33.0 %) 42.88 (16.4 %)
Q1 2017 290.06 (14.4 %) 76.04 (14.8 %) 39.47 (20.7 %)
Q2 2017 340.37 0.3 % 79.77 (16.8 %) 43.23 (0.9 %)
Q3 2017 329.55 33.6 % 76.71 12.6 % 41.13 10.6 %
Q4 2017 315.92 (2.5 %) 51.72 (26.5 %) 18.34 (57.2 %)
Q1 2018 284.46 (1.9 %) 61.28 (19.4 %) 28.89 (26.8 %)
Q2 2018 243.43 (28.5 %) 42.51 (46.7 %) 2.67 (93.8 %)
Q3 2018 269.05 (18.4 %) 36.44 (52.5 %) 15.45 (62.4 %)
Q4 2018 116.28 (63.2 %) 20.90 (59.6 %) 14.01 (23.6 %)
Q1 2019 285.94 0.5 % 39.50 (35.5 %) 6.32 (78.1 %)
Q2 2019 358.00 47.1 % 57.50 35.3 % 24.05 800.5 %
Q3 2019 437.57 62.6 % 62.64 71.9 % 29.31 89.7 %
Q4 2019 267.06 129.7 % 27.68 32.5 % 32.57 132.4 %
Q1 2020 389.63 36.3 % 44.82 13.5 % 18.78 197.0 %
Q2 2020 294.11 (17.8 %) 54.28 (5.6 %) 30.47 26.7 %
Q3 2020 353.06 (19.3 %) 46.67 (25.5 %) 22.71 (22.5 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items Earnings Per Share before unusual items
Q1 2011 16.14 (33.4 %) 0.26 - 16.14 0.26
Q2 2011 19.52 (22.0 %) 0.31 - 19.52 0.31
Q3 2011 22.85 (5.4 %) 0.36 - 22.85 0.36
Q4 2011 18.38 271.8 % 0.29 - 18.38 0.29
Q1 2012 13.06 (19.1 %) 0.20 - 13.06 0.20
Q2 2012 20.12 3.1 % 0.31 - 20.12 0.31
Q3 2012 14.14 (38.1 %) 0.22 - 14.14 0.22
Q4 2012 31.03 68.8 % 0.49 85.42 (54.39) (0.85)
Q1 2013 15.59 19.4 % 0.24 - 15.59 0.24
Q2 2013 50.99 153.5 % 0.80 - 50.99 0.80
Q3 2013 16.35 15.7 % 0.26 - 16.35 0.26
Q4 2013 27.69 (10.8 %) 0.43 - 27.69 0.43
Q1 2014 22.17 42.2 % 0.35 - 22.17 0.35
Q2 2014 38.98 (23.5 %) 0.61 - 38.98 0.61
Q3 2014 14.92 (8.7 %) 0.23 - 14.92 0.23
Q4 2014 30.31 9.5 % 0.47 - 30.31 0.47
Q1 2015 26.28 18.6 % 0.41 - 26.28 0.41
Q2 2015 39.57 1.5 % 0.62 - 39.57 0.62
Q3 2015 32.46 117.5 % 0.51 - 32.46 0.51
Q4 2015 38.41 26.7 % 0.60 (14.07) 52.48 0.82
Q1 2016 39.69 51.0 % 0.62 - 39.69 0.62
Q2 2016 39.91 0.9 % 0.62 - 39.91 0.62
Q3 2016 34.61 6.6 % 0.54 - 34.61 0.54
Q4 2016 40.71 6.0 % 0.64 - 40.71 0.64
Q1 2017 39.08 (1.5 %) 0.61 - 39.08 0.61
Q2 2017 41.24 3.3 % 0.64 - 41.24 0.64
Q3 2017 29.97 (13.4 %) 0.47 - 29.97 0.47
Q4 2017 36.88 (9.4 %) 0.58 - 36.88 0.58
Q1 2018 19.36 (50.5 %) 0.30 - 19.36 0.30
Q2 2018 20.49 (50.3 %) 0.32 - 20.49 0.32
Q3 2018 9.15 (69.5 %) 0.14 5.96 3.19 0.05
Q4 2018 20.74 (43.8 %) 0.32 8.89 11.85 0.19
Q1 2019 19.82 2.4 % 0.31 14.54 5.29 0.08
Q2 2019 20.84 1.7 % 0.33 2.73 18.11 0.28
Q3 2019 20.95 128.9 % 0.33 2.19 18.76 0.29
Q4 2019 24.40 17.6 % 0.38 (2.19) 26.59 0.42
Q1 2020 14.23 (28.2 %) 0.22 1.50 12.72 0.20
Q2 2020 22.51 8.0 % 0.35 - 22.51 0.35
Q3 2020 15.31 (26.9 %) 0.24 - 15.31 0.24

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2011 19.37 % 14.70 % 7.22 %
Q2 2011 17.05 % 12.74 % 6.47 %
Q3 2011 16.49 % 12.25 % 6.43 %
Q4 2011 15.50 % 11.63 % 7.65 %
Q1 2012 14.39 % 10.66 % 7.05 %
Q2 2012 13.53 % 8.05 % 6.51 %
Q3 2012 14.37 % 7.68 % 5.23 %
Q4 2012 9.91 % 4.09 % (0.52 %)
Q1 2013 10.96 % 4.36 % (0.33 %)
Q2 2013 13.43 % 7.19 % 1.92 %
Q3 2013 13.26 % 7.16 % 2.12 %
Q4 2013 17.42 % 10.49 % 7.96 %
Q1 2014 18.62 % 11.22 % 8.60 %
Q2 2014 19.02 % 11.75 % 7.93 %
Q3 2014 19.71 % 13.39 % 7.97 %
Q4 2014 24.32 % 21.57 % 8.62 %
Q1 2015 24.51 % 22.20 % 8.34 %
Q2 2015 23.95 % 22.74 % 7.88 %
Q3 2015 23.37 % 21.37 % 8.68 %
Q4 2015 23.03 % 16.96 % 9.79 %
Q1 2016 23.91 % 17.66 % 11.00 %
Q2 2016 25.55 % 16.67 % 11.44 %
Q3 2016 27.17 % 17.95 % 12.64 %
Q4 2016 25.92 % 17.66 % 12.41 %
Q1 2017 25.87 % 18.52 % 12.86 %
Q2 2017 24.50 % 17.09 % 12.96 %
Q3 2017 23.59 % 16.11 % 11.76 %
Q4 2017 22.28 % 13.82 % 11.53 %
Q1 2018 21.21 % 11.61 % 10.03 %
Q2 2018 19.79 % 10.40 % 9.09 %
Q3 2018 17.25 % 8.46 % 7.18 %
Q4 2018 17.64 % 9.29 % 6.01 %
Q1 2019 15.23 % 7.34 % 4.46 %
Q2 2019 14.99 % 8.16 % 3.73 %
Q3 2019 15.07 % 8.20 % 4.51 %
Q4 2019 13.89 % 8.57 % 5.10 %
Q1 2020 13.26 % 8.38 % 5.25 %
Q2 2020 13.64 % 9.56 % 5.80 %
Q3 2020 13.30 % 9.60 % 5.92 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Earnings Per Share before unusual items (Riyal) Book Value (BV)
Q1 2011 63.15 1.11 1.11 9.14
Q2 2011 63.15 1.03 1.03 9.01
Q3 2011 63.15 1.00 1.00 9.25
Q4 2011 63.15 1.22 1.22 9.52
Q1 2012 63.95 1.15 1.15 9.74
Q2 2012 63.95 1.16 1.16 8.99
Q3 2012 63.95 1.03 1.03 9.20
Q4 2012 63.95 1.23 (0.11) 9.05
Q1 2013 63.95 1.26 (0.07) 9.10
Q2 2013 63.95 1.75 0.41 9.93
Q3 2013 63.95 1.78 0.45 10.17
Q4 2013 63.95 1.73 1.73 9.50
Q1 2014 63.95 1.83 1.83 10.30
Q2 2014 63.95 1.65 1.65 10.88
Q3 2014 63.95 1.62 1.62 11.08
Q4 2014 63.95 1.66 1.66 10.17
Q1 2015 63.95 1.73 1.73 10.31
Q2 2015 63.95 1.74 1.74 10.62
Q3 2015 63.95 2.01 2.01 11.30
Q4 2015 63.95 2.14 2.36 10.95
Q1 2016 63.95 2.35 2.57 10.97
Q2 2016 63.95 2.35 2.57 11.59
Q3 2016 63.95 2.39 2.61 12.14
Q4 2016 63.95 2.42 2.42 11.59
Q1 2017 63.95 2.41 2.41 12.08
Q2 2017 63.95 2.43 2.43 11.93
Q3 2017 63.95 2.36 2.36 11.77
Q4 2017 63.95 2.30 2.30 12.46
Q1 2018 63.95 1.99 1.99 12.39
Q2 2018 63.95 1.67 1.67 12.38
Q3 2018 63.95 1.34 1.25 12.54
Q4 2018 63.95 1.09 0.86 11.88
Q1 2019 63.95 1.10 0.64 12.24
Q2 2019 63.95 1.10 0.60 12.62
Q3 2019 63.95 1.29 0.84 13.00
Q4 2019 63.95 1.35 1.08 12.49
Q1 2020 63.95 1.26 1.19 12.71
Q2 2020 63.95 1.28 1.26 12.54
Q3 2020 63.95 1.20 1.21 12.79

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2011 17.30 17.30 2.19
Q2 2011 19.10 19.10 2.15
Q3 2011 15.12 15.12 1.62
Q4 2011 14.03 14.03 1.77
Q1 2012 18.83 18.83 2.23
Q2 2012 12.40 12.40 1.61
Q3 2012 17.07 17.07 1.91
Q4 2012 12.92 NEG 1.75
Q1 2013 12.62 NEG 1.75
Q2 2013 9.04 38.37 1.59
Q3 2013 12.90 51.52 2.26
Q4 2013 12.33 12.33 2.25
Q1 2014 12.08 12.08 2.15
Q2 2014 13.75 13.75 2.08
Q3 2014 18.37 18.37 2.69
Q4 2014 10.90 10.90 1.78
Q1 2015 16.47 16.47 2.76
Q2 2015 18.27 18.27 2.99
Q3 2015 11.47 11.47 2.04
Q4 2015 9.58 8.68 1.87
Q1 2016 6.91 6.32 1.48
Q2 2016 7.91 7.23 1.61
Q3 2016 5.78 5.29 1.14
Q4 2016 6.97 6.97 1.46
Q1 2017 8.41 8.41 1.68
Q2 2017 7.32 7.32 1.49
Q3 2017 8.02 8.02 1.61
Q4 2017 7.76 7.76 1.43
Q1 2018 8.98 8.98 1.44
Q2 2018 10.47 10.47 1.41
Q3 2018 10.88 11.69 1.17
Q4 2018 12.10 15.38 1.11
Q1 2019 14.09 24.23 1.26
Q2 2019 13.23 24.29 1.16
Q3 2019 13.02 19.85 1.29
Q4 2019 13.38 16.74 1.44
Q1 2020 10.34 10.91 1.02
Q2 2020 11.61 11.83 1.19
Q3 2020 15.97 15.83 1.49

Business Segments (Million)

Compared With The
Period Towers and metal structures sector Lampposts and lighting sector Design, supply and installation sector The main center Solar energy sector
Q1 2011 69.84 106.91 58.51 - -
Q2 2011 85.97 105.71 83.16 - -
Q3 2011 43.26 97.47 87.66 - -
Q4 2011 76.47 108.03 82.04 - -
Q1 2012 86.69 115.98 74.23 - -
Q2 2012 86.01 210.41 74.77 - -
Q3 2012 91.08 177.94 72.68 - -
Q4 2012 78.18 193.93 90.65 - -
Q1 2013 58.43 195.65 65.98 - -
Q2 2013 34.16 228.92 83.37 - -
Q3 2013 45.82 211.23 62.42 - -
Q4 2013 136.42 188.51 78.07 - -
Q1 2014 107.84 112.94 73.00 - -
Q2 2014 99.45 130.60 79.81 - -
Q3 2014 96.74 119.85 78.43 - -
Q4 2014 125.60 123.24 86.64 - -
Q1 2015 112.21 180.39 92.58 - -
Q2 2015 131.19 166.56 96.52 - -
Q3 2015 132.12 145.50 88.58 - -
Q4 2015 129.32 162.59 114.28 - -
Q1 2016 92.81 159.81 86.13 - -
Q2 2016 65.66 183.67 89.98 - -
Q3 2016 28.67 141.09 76.94 - -
Q4 2016 49.44 138.33 138.27 - -
Q1 2017 110.95 112.90 66.21 - -
Q2 2017 78.31 185.75 76.30 - -
Q3 2017 96.70 139.31 93.54 - -
Q4 2017 70.96 161.98 82.97 - -
Q1 2018 72.03 157.52 54.91 - -
Q2 2018 65.94 131.78 45.70 - -
Q3 2018 74.61 127.57 66.87 - -
Q1 2019 84.83 116.82 84.29 - -
Q2 2019 85.19 202.58 70.15 - -
Q3 2019 99.58 208.28 55.25 - 74.54
Q4 2019 85.14 80.29 73.07 - 28.56
Q1 2020 144.80 161.28 76.40 - 7.15
Q2 2020 101.49 94.66 76.63 - 21.33
Q3 2020 113.25 128.29 72.43 - 39.10


Financial Ratios
Current
Market Cap (M Riyal) 2,938.50
Enterprise Value (EV) (M) 3,932.67
Shares Outstanding ((M)) 63.95
EPS ( Riyal) (TTM) 3.50
Book Value (BV) ( Riyal) 15.99
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 13.82
P/E (TTM) 13.11
Price/book 2.87
Return on Average Assets (%) (TTM) 7.7
Return on Average Equity (%) (TTM) 23.0
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Share Price

Al-Babtain Power and Telecommunication Co.
45.45
(0.60) (1.30 %)

Al-Babtain Power and Telecommunication Co. (ALBABTAIN)

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