Aldrees net profit jumps 30% to SAR 39.4 mln in Q1 2021

20/04/2021 Argaam Exclusive

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Share Price

Aldrees Petroleum and Transport Services Co. (ALDREES)

Aldrees Petroleum and Transport Services Co. (Aldrees) reported a net profit after Zakat and tax of SAR 39.4 million for the first quarter of 2021, a rise of 30% from SAR 30.3 million in prior-year period.

The company attributed the profit growth to a rise in the petroleum division sales and profit from the joint venture. Aldrees also reported a decrease in marketing and Zakat expenses.

Current Quarter Comparison (M)

Compared With The

Item	Q1 2020	Q1 2021	Change‬
Revenues	1,457.81	1,759.66	20.7 %
Gross Income	84.72	101.01	19.2 %
Operating Income	51.65	63.40	22.8 %
Net Income	30.29	39.36	30.0 %
Average Shares	100.00	100.00	-
EPS (Riyals)	0.30	0.39	30.0 %

Item	Q4 2020	Q1 2021	Change‬
Revenues	1,496.73	1,759.66	17.6 %
Gross Income	106.49	101.01	(5.1 %)
Operating Income	67.03	63.40	(5.4 %)
Net Income	39.52	39.36	(0.4 %)
Average Shares	100.00	100.00	-
EPS (Riyals)	0.40	0.39	(0.4 %)

When compared to Q4 2020, net profit after Zakat and tax edged down 0.2% to SAR 39.5 million.

Shareholders’ equity, excluding minority interest, rose 3% to SAR 931.8 million in Q1 2021, from SAR 905.1 million in the year-ago period.

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
Q1 2012	452.68	14.4 %	41.13	8.8 %	22.77	3.5 %	0.23
Q2 2012	473.74	10.1 %	45.27	5.1 %	26.43	7.6 %	0.26
Q3 2012	462.24	9.0 %	41.11	0.9 %	22.64	2.8 %	0.23
Q4 2012	484.92	9.2 %	43.99	3.1 %	23.71	0.6 %	0.24
2012	1,873.57	10.6 %	171.50	4.4 %	95.55	3.7 %	0.96
Q1 2013	490.06	8.3 %	44.86	9.1 %	23.56	3.5 %	0.24
Q2 2013	503.26	6.2 %	47.79	5.6 %	27.40	3.6 %	0.27
Q3 2013	486.18	5.2 %	46.17	12.3 %	24.34	7.6 %	0.24
Q4 2013	503.18	3.8 %	48.83	11.0 %	26.40	11.3 %	0.26
2013	1,982.68	5.8 %	187.65	9.4 %	101.69	6.4 %	1.02
Q1 2014	518.59	5.8 %	55.62	24.0 %	30.51	29.5 %	0.31
Q2 2014	550.68	9.4 %	62.52	30.8 %	35.36	29.1 %	0.35
Q3 2014	531.96	9.4 %	54.83	18.8 %	26.56	9.1 %	0.27
Q4 2014	543.09	7.9 %	54.14	10.9 %	31.29	18.5 %	0.31
2014	2,144.32	8.2 %	227.11	21.0 %	123.73	21.7 %	1.24
Q1 2015	563.95	8.7 %	65.65	18.0 %	41.99	37.6 %	0.42
Q2 2015	580.01	5.3 %	64.86	3.8 %	36.77	4.0 %	0.37
Q3 2015	566.53	6.5 %	56.33	2.7 %	32.31	21.7 %	0.32
Q4 2015	592.50	9.1 %	65.00	20.1 %	32.96	5.3 %	0.33
2015	2,302.99	7.4 %	251.84	10.9 %	144.04	16.4 %	1.44
Q1 2016	843.73	49.6 %	57.62	(12.2 %)	27.78	(33.8 %)	0.28
Q2 2016	896.65	54.6 %	58.57	(9.7 %)	28.51	(22.5 %)	0.29
Q3 2016	851.65	50.3 %	48.12	(14.6 %)	18.05	(44.1 %)	0.18
Q4 2016	869.33	46.7 %	43.08	(33.7 %)	16.68	(49.4 %)	0.17
2016	3,461.35	50.3 %	207.39	(17.7 %)	91.02	(36.8 %)	0.91
Q1 2017	840.39	(0.4 %)	42.50	(26.2 %)	14.58	(47.5 %)	0.15
Q2 2017	856.87	(4.4 %)	48.25	(17.6 %)	18.26	(35.9 %)	0.18
Q3 2017	826.87	(2.9 %)	46.50	(3.4 %)	18.22	0.9 %	0.18
Q4 2017	885.47	1.9 %	45.58	5.8 %	13.59	(18.6 %)	0.14
2017	3,409.60	(1.5 %)	182.84	(11.8 %)	64.65	(29.0 %)	0.65
Q1 2018	1,285.18	52.9 %	69.15	62.7 %	22.09	51.5 %	0.22
Q2 2018	1,290.31	50.6 %	62.88	30.3 %	15.12	(17.2 %)	0.15
Q3 2018	1,288.49	55.8 %	60.65	30.4 %	16.01	(12.1 %)	0.16
Q4 2018	1,312.61	48.2 %	60.30	32.3 %	13.38	(1.5 %)	0.13
2018	5,176.59	51.8 %	252.97	38.4 %	66.61	3.0 %	0.67
Q1 2019	1,299.80	1.1 %	67.64	(2.2 %)	29.89	35.3 %	0.30
Q2 2019	1,326.46	2.8 %	63.87	1.6 %	17.27	14.2 %	0.17
Q3 2019	1,472.74	14.3 %	66.04	8.9 %	16.55	3.4 %	0.17
Q4 2019	1,582.14	20.5 %	264.05	337.9 %	228.03	1603.9 %	2.28
2019	5,681.13	9.7 %	461.60	82.5 %	291.74	338.0 %	2.92
Q1 2020	1,457.81	12.2 %	84.72	25.3 %	30.29	1.3 %	0.30
Q2 2020	719.28	(45.8 %)	46.03	(27.9 %)	14.38	(16.7 %)	0.14
Q3 2020	1,300.26	(11.7 %)	88.49	34.0 %	36.90	122.9 %	0.37
Q4 2020	1,496.73	(5.4 %)	106.49	(59.7 %)	39.52	(82.7 %)	0.40
2020	4,974.08	(12.4 %)	325.74	(29.4 %)	121.08	(58.5 %)	1.21
Q1 2021	1,759.66	20.7 %	101.01	19.2 %	39.36	30.0 %	0.39

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
2011	1,694.18	14.4 %	164.26	7.2 %	92.17	7.1 %	0.92
2012	1,873.57	10.6 %	171.50	4.4 %	95.55	3.7 %	0.96
2013	1,982.68	5.8 %	187.65	9.4 %	101.69	6.4 %	1.02
2014	2,144.32	8.2 %	227.11	21.0 %	123.73	21.7 %	1.24
2015	2,302.99	7.4 %	251.84	10.9 %	144.04	16.4 %	1.44
2016	3,461.35	50.3 %	207.39	(17.7 %)	91.02	(36.8 %)	0.91
2017	3,409.60	(1.5 %)	182.84	(11.8 %)	64.65	(29.0 %)	0.65
2018	5,176.59	51.8 %	252.97	38.4 %	66.61	3.0 %	0.67
2019	5,681.13	9.7 %	461.60	82.5 %	291.74	338.0 %	2.92
2020	4,974.08	(12.4 %)	325.74	(29.4 %)	121.08	(58.5 %)	1.21

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2012	9.57 %	8.96 %	5.31 %
Q2 2012	9.46 %	8.95 %	5.28 %
Q3 2012	9.28 %	8.85 %	5.21 %
Q4 2012	9.15 %	8.75 %	5.10 %
2012	9.15 %	8.75 %	5.10 %
Q1 2013	9.17 %	8.68 %	5.04 %
Q2 2013	9.16 %	8.56 %	5.01 %
Q3 2013	9.31 %	8.55 %	5.04 %
Q4 2013	9.46 %	8.67 %	5.13 %
2013	9.46 %	8.67 %	5.13 %
Q1 2014	9.87 %	8.94 %	5.40 %
Q2 2014	10.35 %	9.29 %	5.66 %
Q3 2014	10.54 %	9.41 %	5.65 %
Q4 2014	10.59 %	9.49 %	5.77 %
2014	10.59 %	9.49 %	5.77 %
Q1 2015	10.83 %	9.61 %	5.89 %
Q2 2015	10.79 %	9.55 %	5.87 %
Q3 2015	10.69 %	9.20 %	5.87 %
Q4 2015	10.94 %	9.35 %	5.78 %
2015	10.94 %	9.35 %	5.78 %
Q1 2016	9.44 %	8.08 %	4.85 %
Q2 2016	8.19 %	6.97 %	4.03 %
Q3 2016	7.20 %	6.30 %	3.34 %
Q4 2016	5.99 %	5.16 %	2.63 %
2016	5.99 %	5.16 %	2.63 %
Q1 2017	5.56 %	4.83 %	2.25 %
Q2 2017	5.32 %	4.67 %	1.98 %
Q3 2017	5.31 %	4.78 %	2.00 %
Q4 2017	5.36 %	4.88 %	1.90 %
2017	5.36 %	4.88 %	1.90 %
Q1 2018	5.43 %	6.37 %	1.87 %
Q2 2018	5.23 %	7.29 %	1.61 %
Q3 2018	5.02 %	7.98 %	1.41 %
Q4 2018	4.89 %	8.71 %	1.29 %
2018	4.89 %	8.71 %	1.29 %
Q1 2019	4.84 %	8.50 %	1.18 %
Q2 2019	4.83 %	8.37 %	1.22 %
Q3 2019	4.76 %	8.04 %	1.19 %
Q4 2019	8.13 %	10.90 %	4.02 %
2019	8.13 %	10.90 %	4.02 %
Q1 2020	8.20 %	10.97 %	4.13 %
Q2 2020	8.81 %	11.27 %	4.23 %
Q3 2020	9.55 %	12.42 %	4.77 %
Q4 2020	6.55 %	9.83 %	2.08 %
2020	6.55 %	9.83 %	2.08 %
Q1 2021	6.48 %	9.82 %	2.14 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2011	9.70 %	9.06 %	5.44 %
2012	9.15 %	8.75 %	5.10 %
2013	9.46 %	8.67 %	5.13 %
2014	10.59 %	9.49 %	5.77 %
2015	10.94 %	9.35 %	5.78 %
2016	5.99 %	5.16 %	2.63 %
2017	5.36 %	4.88 %	1.90 %
2018	4.89 %	8.71 %	1.29 %
2019	8.13 %	10.90 %	4.02 %
2020	6.55 %	9.83 %	2.08 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2012	9.09 %	8.64 %	5.03 %
Q2 2012	9.56 %	9.24 %	5.58 %
Q3 2012	8.89 %	8.58 %	4.90 %
Q4 2012	9.07 %	8.52 %	4.89 %
Q1 2013	9.15 %	8.39 %	4.81 %
Q2 2013	9.50 %	8.74 %	5.44 %
Q3 2013	9.50 %	8.53 %	5.01 %
Q4 2013	9.70 %	9.00 %	5.25 %
Q1 2014	10.73 %	9.45 %	5.88 %
Q2 2014	11.35 %	10.09 %	6.42 %
Q3 2014	10.31 %	9.05 %	4.99 %
Q4 2014	9.97 %	9.35 %	5.76 %
Q1 2015	11.64 %	9.93 %	6.33 %
Q2 2015	11.18 %	9.82 %	6.34 %
Q3 2015	9.94 %	7.69 %	5.02 %
Q4 2015	10.97 %	9.93 %	5.43 %
Q1 2016	6.83 %	5.85 %	3.29 %
Q2 2016	6.53 %	5.62 %	3.18 %
Q3 2016	5.65 %	4.94 %	2.12 %
Q4 2016	4.96 %	4.25 %	1.92 %
Q1 2017	5.06 %	4.45 %	1.74 %
Q2 2017	5.63 %	5.04 %	2.13 %
Q3 2017	5.62 %	5.41 %	2.20 %
Q4 2017	5.15 %	4.63 %	1.53 %
Q1 2018	5.38 %	9.07 %	1.72 %
Q2 2018	4.87 %	8.56 %	1.17 %
Q3 2018	4.71 %	8.62 %	1.24 %
Q4 2018	4.59 %	8.61 %	1.02 %
Q1 2019	5.20 %	8.24 %	1.31 %
Q2 2019	4.81 %	8.04 %	1.30 %
Q3 2019	4.48 %	7.36 %	1.12 %
Q4 2019	16.69 %	18.78 %	11.21 %
Q1 2020	5.81 %	8.82 %	2.08 %
Q2 2020	6.40 %	7.71 %	(0.42 %)
Q3 2020	6.81 %	11.33 %	2.84 %
Q4 2020	7.12 %	10.54 %	2.64 %
Q1 2021	5.74 %	8.94 %	2.24 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2012	100.00	0.93	0.93	4.05
Q2 2012	100.00	0.95	0.95	4.32
Q3 2012	100.00	0.95	0.95	4.54
Q4 2012	100.00	0.96	0.96	4.78
Q1 2013	100.00	0.96	0.96	4.40
Q2 2013	100.00	0.97	0.97	4.67
Q3 2013	100.00	0.99	0.99	4.92
Q4 2013	100.00	1.02	1.02	5.18
Q1 2014	100.00	1.09	1.09	4.87
Q2 2014	100.00	1.17	1.17	5.23
Q3 2014	100.00	1.19	1.19	5.49
Q4 2014	100.00	1.24	1.24	5.80
Q1 2015	100.00	1.35	1.29	5.41
Q2 2015	100.00	1.37	1.30	5.78
Q3 2015	100.00	1.42	1.32	6.10
Q4 2015	100.00	1.44	1.33	6.43
Q1 2016	100.00	1.30	1.25	5.72
Q2 2016	100.00	1.22	1.17	6.19
Q3 2016	100.00	1.07	1.07	6.37
Q4 2016	100.00	0.91	0.91	6.34
Q1 2017	100.00	0.78	0.78	6.07
Q2 2017	100.00	0.68	0.68	6.25
Q3 2017	100.00	0.68	0.68	6.43
Q4 2017	100.00	0.65	0.65	6.56
Q1 2018	100.00	0.72	0.72	6.29
Q2 2018	100.00	0.69	0.69	6.47
Q3 2018	100.00	0.67	0.67	6.66
Q4 2018	100.00	0.67	0.67	6.43
Q1 2019	100.00	0.74	0.61	6.36
Q2 2019	100.00	0.77	0.64	6.54
Q3 2019	100.00	0.77	0.64	6.70
Q4 2019	100.00	2.92	2.28	8.75
Q1 2020	100.00	2.92	2.41	9.05
Q2 2020	100.00	2.89	2.21	8.26
Q3 2020	100.00	3.10	2.41	8.63
Q4 2020	100.00	1.21	1.04	8.92
Q1 2021	100.00	1.30	1.13	9.32

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2011	100.00	0.92	0.92	4.34
2012	100.00	0.96	0.96	4.78
2013	100.00	1.02	1.02	5.18
2014	100.00	1.24	1.24	5.80
2015	100.00	1.44	1.33	6.43
2016	100.00	0.91	0.91	6.34
2017	100.00	0.65	0.65	6.56
2018	100.00	0.67	0.67	6.43
2019	100.00	2.92	2.28	8.75
2020	100.00	1.21	1.04	8.92

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2012	13.34	13.34	3.06
Q2 2012	10.48	10.48	2.30
Q3 2012	11.51	11.51	2.42
Q4 2012	10.87	10.87	2.17
Q1 2013	10.59	10.59	2.32
Q2 2013	11.44	11.44	2.38
Q3 2013	13.79	13.79	2.78
Q4 2013	13.28	13.28	2.61
Q1 2014	14.58	14.58	3.25
Q2 2014	17.10	17.10	3.82
Q3 2014	19.86	19.86	4.30
Q4 2014	16.57	16.57	3.53
Q1 2015	17.76	18.63	4.44
Q2 2015	19.92	20.88	4.71
Q3 2015	14.89	16.03	3.47
Q4 2015	11.99	12.98	2.69
Q1 2016	11.30	11.72	2.56
Q2 2016	11.25	11.69	2.21
Q3 2016	11.17	11.25	1.88
Q4 2016	17.11	17.11	2.46
Q1 2017	17.75	17.75	2.28
Q2 2017	17.87	17.87	1.93
Q3 2017	20.53	20.53	2.16
Q4 2017	21.34	21.34	2.10
Q1 2018	18.56	18.56	2.13
Q2 2018	20.29	20.29	2.16
Q3 2018	21.27	21.27	2.13
Q4 2018	27.78	27.78	2.88
Q1 2019	22.23	26.90	2.60
Q2 2019	26.93	32.40	3.15
Q3 2019	37.22	44.71	4.28
Q4 2019	12.86	16.45	4.29
Q1 2020	11.51	13.92	3.71
Q2 2020	13.05	17.07	4.57
Q3 2020	12.83	16.46	4.60
Q4 2020	32.17	37.57	4.36
Q1 2021	32.84	37.90	4.59

Period	P/E	Adjusted P/E	Price/book
2011	11.94	11.94	2.54
2012	10.87	10.87	2.17
2013	13.28	13.28	2.61
2014	16.57	16.57	3.53
2015	11.99	12.98	2.69
2016	17.11	17.11	2.46
2017	21.34	21.34	2.10
2018	27.78	27.78	2.88
2019	12.86	16.45	4.29
2020	32.17	37.57	4.36

Business Segments (Million)

Compared With The

Period	Oil services sector	Transport Service	elimination	Super Sector 2
Q1 2012	415.89	48.60	(11.81)	-
Q2 2012	432.76	53.41	(12.43)	-
Q3 2012	422.65	52.04	(12.45)	-
Q4 2012	446.47	51.46	(13.01)	-
Q1 2013	446.50	57.18	(13.62)	-
Q2 2013	457.78	59.76	(14.28)	-
Q3 2013	439.61	60.55	(13.98)	-
Q4 2013	458.09	58.93	(13.84)	-
Q1 2014	461.66	70.51	(13.58)	-
Q2 2014	490.43	75.51	(15.25)	-
Q3 2014	477.58	70.09	(15.71)	-
Q4 2014	488.27	72.08	(17.25)	-
Q1 2015	501.71	78.56	(16.32)	-
Q2 2015	521.51	75.81	(17.31)	-
Q3 2015	516.71	66.69	(16.86)	-
Q4 2015	538.90	70.07	(16.47)	-
Q1 2016	794.80	69.50	(20.57)	-
Q2 2016	850.61	68.12	(22.09)	-
Q3 2016	815.13	56.04	(19.52)	-
Q4 2016	831.65	56.88	(19.20)	-
Q1 2017	807.00	51.91	(18.51)	-
Q2 2017	818.12	58.52	(19.78)	-
Q3 2017	782.34	63.22	(18.68)	-
Q4 2017	843.19	62.51	(20.23)	-
Q1 2018	1,236.02	69.53	(20.38)	-
Q2 2018	1,240.39	70.66	(20.74)	-
Q3 2018	1,235.89	71.60	(19.00)	-
Q4 2018	1,247.46	85.15	(20.00)	-
Q1 2019	1,226.32	92.00	(18.52)	-
Q2 2019	1,258.96	87.18	(19.69)	-
Q3 2019	1,407.07	85.88	(20.20)	-
Q4 2019	1,510.62	93.71	(22.19)	-
Q1 2020	1,406.89	73.61	(22.69)	-
Q2 2020	666.76	69.79	(17.27)	-
Q3 2020	1,246.27	77.86	(23.87)	-
Q4 2020	1,447.61	73.29	(24.18)	-
Q1 2021	1,712.60	71.05	(24.00)	-

Period	Oil services sector	Transport Service	elimination	Super Sector 2
2011	1,545.04	188.22	(43.00)	3.92
2012	1,717.77	205.51	(49.71)	-
2013	1,801.98	236.42	(55.72)	-
2014	1,917.93	288.18	(61.79)	-
2015	2,078.82	291.13	(66.96)	-
2016	3,292.18	250.55	(81.38)	-
2017	3,250.64	236.15	(77.20)	-
2018	4,959.76	296.94	(80.12)	-
2019	5,402.97	358.76	(80.60)	-
2020	4,767.54	294.55	(88.00)	-

Financial Ratios

	Current
Market Cap (M Riyal)	11,140.00
Enterprise Value (EV) (M)	11,434.81
Shares Outstanding ((M))	100.00
EPS ( Riyal) (TTM)	2.88
Book Value (BV) ( Riyal)	12.99
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	38.72
P/E (TTM)	38.72
Price/book	8.57
Return on Average Assets (%) (TTM)	3.9
Return on Average Equity (%) (TTM)	23.2

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Aldrees net profit jumps 30% to SAR 39.4 mln in Q1 2021

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Share Price

Aldrees Petroleum and Transport Services Co. (ALDREES)

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) 2021 Q1

Financial Ratios

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Aldrees net profit jumps 30% to SAR 39.4 mln in Q1 2021

View other reports

Share Price

Aldrees Petroleum and Transport Services Co. (ALDREES)

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) Q1 2021

Revenue by Business Segment (Latest) 2021 Q1

Financial Ratios

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Business Segments (Million)