Astra’s net profit down 41% in H1 2019

25/07/2019 Argaam Exclusive

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Astra Industrial Group (ASTRA INDUSTRIAL)

Astra Industrial Group posted a net profit after zakat and tax of SAR 24.68 million for the first half of 2019, a decline of 40.68 percent year-on-year (YoY) due to higher zakat expenses and lower income from the pharmaceutical segment.

Financials (M)

Item	6m 2018	6m 2019	Change‬
Revenues	913.22	963.59	5.5 %
Gross Income	376.36	397.61	5.6 %
Operating Income	75.92	118.81	56.5 %
Net Income	41.61	24.68	(40.7 %)
Average Shares	80.00	80.00	-
EPS (Riyals)	0.52	0.31	(40.7 %)

The second-quarter net profit after zakat and tax decreased 1.9 percent YoY to SAR 15.8 million, due to lower income from the pharmaceutical segment, higher zakat expenses, and higher financial charges.

When compared to previous quarter, net profit surged 77.1 percent, driven by higher revenue and gross profit from pharmaceutical segment, despite higher selling and marketing expenses.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2018	Q2 2019	Change‬
Revenues	436.40	493.41	13.1 %
Gross Income	184.86	209.98	13.6 %
Operating Income	31.56	64.99	105.9 %
Net Income	16.08	15.78	(1.9 %)
Average Shares	80.00	80.00	-
EPS (Riyals)	0.20	0.20	(1.9 %)

Item	Q1 2019	Q2 2019	Change‬
Revenues	470.18	493.41	4.9 %
Gross Income	187.63	209.98	11.9 %
Operating Income	53.82	64.99	20.7 %
Net Income	8.91	15.78	77.1 %
Average Shares	80.00	80.00	-
EPS (Riyals)	0.11	0.20	77.1 %

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
Q1 2010	276.32	19.5 %	126.93	16.7 %	57.88	17.6 %	0.72
Q2 2010	276.03	7.6 %	126.08	16.7 %	61.46	21.1 %	0.77
Q3 2010	260.98	14.3 %	121.38	15.5 %	80.65	48.7 %	1.01
Q4 2010	307.13	20.3 %	110.67	(7.9 %)	59.00	18.4 %	0.74
2010	1,120.46	15.3 %	485.06	9.7 %	258.99	26.9 %	3.24
Q1 2011	356.77	29.1 %	141.28	11.3 %	62.04	7.2 %	0.78
Q2 2011	373.14	35.2 %	146.07	15.9 %	67.28	9.5 %	0.84
Q3 2011	334.40	28.1 %	139.61	15.0 %	58.49	(27.5 %)	0.73
Q4 2011	340.93	11.0 %	138.10	24.8 %	63.77	8.1 %	0.80
2011	1,381.99	23.3 %	549.78	13.3 %	248.13	(4.2 %)	3.10
Q1 2012	391.50	9.7 %	155.53	10.1 %	64.08	3.3 %	0.80
Q2 2012	376.88	1.0 %	155.50	6.5 %	68.50	1.8 %	0.86
Q3 2012	317.94	(4.9 %)	152.83	9.5 %	46.66	(20.2 %)	0.58
Q4 2012	410.00	20.3 %	154.06	11.6 %	63.43	(0.5 %)	0.79
2012	1,496.32	8.3 %	617.92	12.4 %	242.66	(2.2 %)	3.03
Q1 2013	454.19	16.0 %	174.40	12.1 %	68.32	6.6 %	0.85
Q2 2013	447.54	18.7 %	178.71	14.9 %	61.72	(9.9 %)	0.77
Q3 2013	360.22	13.3 %	157.84	3.3 %	50.69	8.7 %	0.63
Q4 2013	509.48	24.3 %	169.90	10.3 %	72.41	14.1 %	0.91
2013	1,771.43	18.4 %	683.81	10.7 %	253.14	4.3 %	3.16
Q1 2014	498.90	9.8 %	184.96	6.1 %	63.06	(7.7 %)	0.79
Q2 2014	453.23	1.3 %	136.47	(23.6 %)	3.07	(95.0 %)	0.04
Q3 2014	439.81	22.1 %	125.94	(20.2 %)	17.91	(64.7 %)	0.22
Q4 2014	491.79	(3.5 %)	158.77	(6.5 %)	25.72	(64.5 %)	0.32
2014	1,918.81	8.3 %	604.63	(11.6 %)	109.33	(56.8 %)	1.37
Q1 2015	489.36	(1.9 %)	181.61	(1.8 %)	42.11	(33.2 %)	0.53
Q2 2015	461.99	1.9 %	162.98	19.4 %	20.10	554.8 %	0.25
Q3 2015	381.83	(13.2 %)	130.00	3.2 %	9.46	(47.2 %)	0.12
Q4 2015	422.92	(14.0 %)	107.80	(32.1 %)	(65.19)	(353.4 %)	(0.81)
2015	1,760.09	(8.3 %)	585.75	(3.1 %)	6.71	(93.9 %)	0.08
Q1 2016	503.31	2.9 %	224.54	23.6 %	12.80	(69.6 %)	0.16
Q2 2016	444.56	(3.8 %)	190.17	16.7 %	(10.60)	(152.8 %)	(0.13)
Q3 2016	389.16	1.9 %	180.23	38.6 %	(25.34)	(367.9 %)	(0.32)
Q4 2016	404.48	(4.4 %)	185.42	72.0 %	(70.80)	(8.6 %)	(0.88)
2016	1,741.51	(1.1 %)	780.36	33.2 %	(93.94)	(1499.4 %)	(1.17)
Q1 2017	512.43	1.8 %	220.92	(1.6 %)	19.74	54.3 %	0.25
Q2 2017	428.52	(3.6 %)	198.92	4.6 %	7.00	166.0 %	0.09
Q3 2017	398.37	2.4 %	171.28	(5.0 %)	2.58	110.2 %	0.03
Q4 2017	456.35	12.8 %	165.46	(10.8 %)	28.88	140.8 %	0.36
2017	1,795.67	3.1 %	756.58	(3.0 %)	58.20	161.9 %	0.73
Q1 2018	476.82	(6.9 %)	191.50	(13.3 %)	25.53	29.3 %	0.32
Q2 2018	436.40	1.8 %	184.86	(7.1 %)	16.08	129.8 %	0.20
Q3 2018	405.35	1.8 %	149.35	(12.8 %)	(26.87)	(1141.9 %)	(0.34)
Q4 2018	478.34	4.8 %	186.25	12.6 %	7.73	(73.2 %)	0.10
2018	1,796.90	0.1 %	711.95	(5.9 %)	22.48	(61.4 %)	0.28
Q1 2019	470.18	(1.4 %)	187.63	(2.0 %)	8.91	(65.1 %)	0.11
Q2 2019	493.41	13.1 %	209.98	13.6 %	15.78	(1.9 %)	0.20

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
2009	971.53	(2.0 %)	442.05	5.4 %	204.04	9.8 %	2.55
2010	1,120.46	15.3 %	485.06	9.7 %	258.99	26.9 %	3.24
2011	1,381.99	23.3 %	549.78	13.3 %	248.13	(4.2 %)	3.10
2012	1,496.32	8.3 %	617.92	12.4 %	242.66	(2.2 %)	3.03
2013	1,771.43	18.4 %	683.81	10.7 %	253.14	4.3 %	3.16
2014	1,918.81	8.3 %	604.63	(11.6 %)	109.33	(56.8 %)	1.37
2015	1,760.09	(8.3 %)	585.75	(3.1 %)	6.71	(93.9 %)	0.08
2016	1,741.51	(1.1 %)	780.36	33.2 %	(93.94)	(1499.4 %)	(1.17)
2017	1,795.67	3.1 %	756.58	(3.0 %)	58.20	161.9 %	0.73
2018	1,796.90	0.1 %	711.95	(5.9 %)	22.48	(61.4 %)	0.28

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2010	45.27 %	19.14 %	19.81 %
Q2 2010	46.16 %	19.11 %	20.40 %
Q3 2010	46.28 %	17.92 %	20.40 %
Q4 2010	43.29 %	18.41 %	20.54 %
2010	43.29 %	18.41 %	20.54 %
Q1 2011	41.59 %	17.71 %	19.73 %
Q2 2011	40.01 %	16.85 %	18.97 %
Q3 2011	39.20 %	16.26 %	18.00 %
Q4 2011	40.21 %	15.71 %	17.90 %
2011	39.78 %	15.57 %	17.95 %
Q1 2012	40.23 %	15.71 %	17.61 %
Q2 2012	40.78 %	15.91 %	17.65 %
Q3 2012	42.18 %	15.95 %	17.03 %
Q4 2012	41.30 %	15.09 %	16.22 %
2012	41.30 %	15.09 %	16.22 %
Q1 2013	40.85 %	14.76 %	15.84 %
Q2 2013	40.50 %	13.92 %	14.74 %
Q3 2013	39.77 %	13.56 %	14.60 %
Q4 2013	38.44 %	13.31 %	14.29 %
2013	38.60 %	13.31 %	14.29 %
Q1 2014	38.07 %	13.64 %	13.65 %
Q2 2014	35.63 %	11.75 %	10.39 %
Q3 2014	32.46 %	10.54 %	8.23 %
Q4 2014	32.18 %	9.87 %	5.83 %
2014	31.51 %	9.22 %	5.70 %
Q1 2015	32.16 %	9.69 %	4.74 %
Q2 2015	33.42 %	10.59 %	5.62 %
Q3 2015	34.71 %	10.53 %	5.34 %
Q4 2015	33.16 %	7.75 %	0.37 %
2015	33.28 %	7.88 %	0.38 %
Q1 2016	35.33 %	7.68 %	(1.29 %)
Q2 2016	37.23 %	7.90 %	(3.05 %)
Q3 2016	39.93 %	9.51 %	(5.02 %)
Q4 2016	44.81 %	12.07 %	(5.39 %)
2016	44.81 %	12.07 %	(5.39 %)
Q1 2017	44.37 %	11.60 %	(5.63 %)
Q2 2017	45.28 %	11.49 %	(5.26 %)
Q3 2017	44.53 %	10.40 %	(4.33 %)
Q4 2017	42.13 %	10.71 %	1.34 %
2017	42.13 %	10.71 %	1.34 %
Q1 2018	41.31 %	10.61 %	2.36 %
Q2 2018	40.33 %	11.14 %	3.43 %
Q3 2018	38.94 %	10.18 %	2.46 %
Q4 2018	39.62 %	11.54 %	1.25 %
2018	39.62 %	11.54 %	1.25 %
Q1 2019	39.55 %	12.17 %	0.33 %
Q2 2019	39.69 %	13.73 %	0.30 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2009	45.50 %	19.94 %	19.92 %
2010	43.29 %	18.41 %	20.54 %
2011	39.78 %	15.57 %	17.95 %
2012	41.30 %	15.09 %	16.22 %
2013	38.60 %	13.31 %	14.29 %
2014	31.51 %	9.22 %	5.70 %
2015	33.28 %	7.88 %	0.38 %
2016	44.81 %	12.07 %	(5.39 %)
2017	42.13 %	10.71 %	1.34 %
2018	39.62 %	11.54 %	1.25 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2010	45.94 %	19.02 %	19.98 %
Q2 2010	45.68 %	18.02 %	21.00 %
Q3 2010	46.51 %	17.33 %	22.21 %
Q4 2010	36.03 %	19.12 %	19.21 %
Q1 2011	39.60 %	16.51 %	17.39 %
Q2 2011	39.15 %	14.98 %	18.03 %
Q3 2011	41.75 %	14.79 %	17.49 %
Q4 2011	40.51 %	16.59 %	18.71 %
Q1 2012	39.73 %	16.44 %	16.37 %
Q2 2012	41.26 %	15.72 %	18.17 %
Q3 2012	48.07 %	14.93 %	14.67 %
Q4 2012	37.57 %	13.33 %	15.47 %
Q1 2013	38.40 %	15.12 %	15.04 %
Q2 2013	39.93 %	12.52 %	13.79 %
Q3 2013	43.82 %	13.16 %	14.07 %
Q4 2013	33.35 %	12.49 %	14.21 %
Q1 2014	37.07 %	16.17 %	12.64 %
Q2 2014	30.11 %	4.94 %	0.68 %
Q3 2014	28.64 %	7.68 %	4.07 %
Q4 2014	32.28 %	9.99 %	5.23 %
Q1 2015	37.11 %	15.57 %	8.60 %
Q2 2015	35.28 %	8.73 %	4.35 %
Q3 2015	34.05 %	6.94 %	2.48 %
Q4 2015	25.49 %	(1.65 %)	(15.42 %)
Q1 2016	44.61 %	15.11 %	2.54 %
Q2 2016	42.78 %	9.63 %	(2.38 %)
Q3 2016	46.31 %	14.27 %	(6.51 %)
Q4 2016	45.84 %	8.85 %	(17.50 %)
Q1 2017	43.11 %	13.44 %	1.58 %
Q2 2017	46.42 %	9.14 %	(0.73 %)
Q3 2017	43.00 %	9.44 %	(2.45 %)
Q4 2017	36.26 %	10.22 %	6.33 %
Q1 2018	40.16 %	13.29 %	5.35 %
Q2 2018	42.36 %	11.28 %	3.69 %
Q3 2018	36.84 %	5.27 %	(6.63 %)
Q4 2018	38.94 %	15.33 %	1.62 %
Q1 2019	39.90 %	15.74 %	1.89 %
Q2 2019	42.56 %	17.21 %	3.20 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2010	80.00	2.66	2.52	19.08
Q2 2010	80.00	2.79	2.64	19.84
Q3 2010	80.00	3.12	2.72	20.62
Q4 2010	80.00	3.24	2.88	21.05
Q1 2011	80.00	3.29	2.96	21.73
Q2 2011	80.00	3.36	3.08	21.19
Q3 2011	80.00	3.09	3.09	21.89
Q4 2011	80.00	3.14	3.14	22.39
Q1 2012	80.00	3.17	3.17	23.18
Q2 2012	80.00	3.19	3.19	22.27
Q3 2012	80.00	3.04	3.04	22.63
Q4 2012	80.00	3.03	3.03	23.03
Q1 2013	80.00	3.09	3.09	23.94
Q2 2013	80.00	3.00	3.00	22.92
Q3 2013	80.00	3.05	3.05	23.18
Q4 2013	80.00	3.16	3.16	23.68
Q1 2014	80.00	3.10	3.10	24.43
Q2 2014	80.00	2.37	2.37	22.82
Q3 2014	80.00	1.96	1.96	22.99
Q4 2014	80.00	1.37	1.37	23.08
Q1 2015	80.00	1.11	1.11	23.53
Q2 2015	80.00	1.32	1.32	22.71
Q3 2015	80.00	1.22	1.22	22.19
Q4 2015	80.00	0.08	0.08	21.46
Q1 2016	80.00	(0.29)	(0.29)	21.65
Q2 2016	80.00	(0.67)	(0.67)	21.78
Q3 2016	80.00	(1.10)	(1.10)	21.78
Q4 2016	80.00	(1.17)	(1.17)	15.43
Q1 2017	80.00	(1.09)	(1.23)	15.62
Q2 2017	80.00	(0.87)	(1.14)	15.28
Q3 2017	80.00	(0.52)	(0.94)	15.21
Q4 2017	80.00	0.73	0.30	15.40
Q1 2018	80.00	0.80	0.52	14.11
Q2 2018	80.00	0.91	0.76	13.80
Q3 2018	80.00	0.55	0.55	13.40
Q4 2018	80.00	0.28	0.28	13.23
Q1 2019	80.00	0.07	0.07	13.38
Q2 2019	80.00	0.07	0.07	13.63

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2009	80.00	2.55	2.42	19.52
2010	80.00	3.24	2.88	21.05
2011	80.00	3.10	3.10	22.39
2012	80.00	3.03	3.03	23.03
2013	80.00	3.16	3.16	23.68
2014	80.00	1.37	1.37	23.08
2015	80.00	0.08	0.08	21.46
2016	80.00	(1.17)	(1.17)	15.43
2017	80.00	0.73	0.30	15.40
2018	80.00	0.28	0.28	13.23

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2010	14.10	14.89	1.97
Q2 2010	12.24	12.93	1.72
Q3 2010	11.80	13.53	1.79
Q4 2010	11.15	12.55	1.72
Q1 2011	9.49	10.53	1.44
Q2 2011	9.53	10.41	1.51
Q3 2011	10.47	10.47	1.48
Q4 2011	10.36	10.36	1.46
Q1 2012	12.71	12.71	1.74
Q2 2012	11.74	11.74	1.68
Q3 2012	12.04	12.04	1.62
Q4 2012	11.90	11.90	1.57
Q1 2013	12.18	12.18	1.57
Q2 2013	13.79	13.79	1.81
Q3 2013	13.83	13.83	1.82
Q4 2013	15.51	15.51	2.07
Q1 2014	18.15	18.15	2.30
Q2 2014	21.57	21.57	2.24
Q3 2014	24.30	24.30	2.07
Q4 2014	21.27	21.27	1.26
Q1 2015	26.98	26.98	1.27
Q2 2015	24.44	24.44	1.42
Q3 2015	19.14	19.14	1.05
Q4 2015	More than 100	More than 100	0.92
Q1 2016	NEG	NEG	0.69
Q2 2016	NEG	NEG	0.75
Q3 2016	NEG	NEG	0.62
Q4 2016	NEG	NEG	1.11
Q1 2017	NEG	NEG	1.06
Q2 2017	NEG	NEG	1.01
Q3 2017	NEG	NEG	1.10
Q4 2017	21.95	53.03	1.04
Q1 2018	20.87	32.17	1.18
Q2 2018	21.02	25.30	1.39
Q3 2018	31.58	31.58	1.29
Q4 2018	58.37	58.37	1.24
Q1 2019	More than 100	More than 100	1.20
Q2 2019	More than 100	More than 100	1.12

Period	P/E	Adjusted P/E	Price/book
2009	12.82	13.51	1.67
2010	11.15	12.55	1.72
2011	10.51	10.51	1.46
2012	11.90	11.90	1.57
2013	15.51	15.51	2.07
2014	21.36	21.36	1.26
2015	More than 100	More than 100	0.92
2016	NEG	NEG	1.11
2017	21.95	53.03	1.04
2018	58.38	58.38	1.24

Business Segments (Million)

Compared With The

Period	Pharmaceuticals	Specialty chemicals	Energy and steel industries	Other
Q1 2010	121.91	96.96	57.45	-
Q2 2010	119.52	108.62	47.89	-
Q3 2010	104.06	110.86	46.06	-
Q4 2010	105.44	130.51	71.18	-
Q1 2011	135.38	138.56	82.82	-
Q2 2011	146.24	135.09	91.81	-
Q3 2011	139.68	119.96	74.06	-
Q4 2011	123.64	126.61	68.12	-
Q1 2012	172.74	135.63	83.14	-
Q2 2012	151.94	138.05	86.89	-
Q3 2012	160.61	122.47	34.86	-
Q4 2012	170.66	150.68	88.66	-
Q1 2013	214.39	165.59	74.22	-
Q2 2013	205.41	157.70	84.42	-
Q3 2013	189.95	114.84	55.43	-
Q4 2013	258.27	115.01	136.20	-
Q1 2014	243.34	161.19	94.37	-
Q2 2014	207.26	144.23	101.73	-
Q3 2014	207.18	127.15	105.48	-
Q4 2014	268.21	154.23	104.43	-
Q1 2015	204.31	178.44	106.61	-
Q2 2015	248.39	143.08	70.51	-
Q3 2015	186.53	134.45	60.85	-
Q4 2015	196.59	136.58	93.75	-
Q1 2016	254.25	182.79	66.27	-
Q2 2016	214.90	166.52	63.14	-
Q3 2016	204.22	119.43	65.51	-
Q4 2016	220.50	131.57	52.41	-
Q1 2017	224.63	202.84	84.97	-
Q2 2017	198.23	142.49	86.79	1.00
Q3 2017	184.52	136.02	74.55	3.28
Q4 2017	214.07	168.68	68.61	4.99
Q1 2018	225.54	183.10	62.31	5.87
Q2 2018	210.02	167.66	52.84	5.87
Q3 2018	191.43	164.03	43.31	6.58
Q4 2018	243.10	189.82	38.81	6.60
Q1 2019	238.47	173.84	49.47	8.41
Q2 2019	249.12	191.70	44.32	8.27

Period	Pharmaceuticals	Specialty chemicals	Energy and steel industries	Other
2009	422.78	343.48	205.26	-
2010	450.93	446.96	222.58	-
2011	544.94	520.23	316.82	-
2012	655.95	546.83	293.55	-
2013	868.02	553.14	350.26	-
2014	925.99	586.81	406.00	-
2015	835.83	592.55	331.72	-
2016	893.86	600.32	247.33	-
2017	821.45	650.03	314.91	9.27
2018	870.10	704.61	197.27	24.92

Financial Ratios

	Current
Market Cap (M Riyal)	12,240.00
Enterprise Value (EV) (M)	11,500.13
Shares Outstanding ((M))	80.00
EPS ( Riyal) (TTM)	6.28
Book Value (BV) ( Riyal)	28.53
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	24.37
P/E (TTM)	24.37
Price/book	5.36
Return on Average Assets (%) (TTM)	12.4
Return on Average Equity (%) (TTM)	23.6

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Astra’s net profit down 41% in H1 2019

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Share Price

Astra Industrial Group (ASTRA INDUSTRIAL)

Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million)

Revenue by Business Segment (Latest) 2019 Q2

Financial Ratios

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Astra’s net profit down 41% in H1 2019

View other reports

Share Price

Astra Industrial Group (ASTRA INDUSTRIAL)

Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million) Q2 2019

Revenue by Business Segment (Latest) 2019 Q2

Financial Ratios

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Business Segments (Million)