Aslak net profit up 7% to SAR 16.1 mln in Q1 2021

21/04/2021 Argaam Exclusive

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Share Price

United Wire Factories Co. (ASLAK)

United Wire Factories Co. (Aslak) reported a net profit after Zakat and tax of SAR 16.1 million for Q1 2021, an increase of 6.6%, from SAR 15.1 million in the same period last year.

The earnings increase is attributed to higher sales volume and lower selling and general expenses, despite a decline in profit margin.

Current Quarter Comparison (M)

Compared With The

Item	Q1 2020	Q1 2021	Change‬
Revenues	220.39	226.63	2.8 %
Gross Income	33.54	28.09	(16.3 %)
Operating Income	23.29	18.63	(20.0 %)
Net Income	15.05	16.11	7.0 %
Average Shares	28.08	28.08	-
EPS (Riyals)	0.54	0.57	7.0 %

Item	Q4 2020	Q1 2021	Change‬
Revenues	202.80	226.63	11.7 %
Gross Income	29.89	28.09	(6.0 %)
Operating Income	19.59	18.63	(4.9 %)
Net Income	17.04	16.11	(5.4 %)
Average Shares	28.08	28.08	-
EPS (Riyals)	0.61	0.57	(5.4 %)

When compared to Q4 2020, net profit after Zakat and tax dipped 5.3% from SAR 17 million on lower profit margins and higher expenses.

Shareholders’ equity, excluding minority interest, fell by 17.8% to SAR 438.6 million by the end of Q1 2021, compared to SAR 533.9 million in the year-ago period.

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
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
2012	1,005.22	17.6 %	137.79	10.7 %	115.36	7.9 %	4.11
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
2013	1,001.32	(0.4 %)	150.62	9.3 %	121.32	5.2 %	4.32
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
2014	952.27	(4.9 %)	128.15	(14.9 %)	90.31	(25.6 %)	3.22
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
2015	903.38	(5.1 %)	120.32	(6.1 %)	72.20	(20.1 %)	2.57
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
2016	690.02	(23.6 %)	136.80	13.7 %	81.89	13.4 %	2.92
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
2017	576.75	(16.4 %)	68.66	(49.8 %)	25.57	(68.8 %)	0.91
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)
2018	534.97	(7.2 %)	46.15	(32.8 %)	7.11	(72.2 %)	0.25
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
2019	724.41	35.4 %	61.65	33.6 %	22.12	211.2 %	0.79
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
Q1 2021	226.63	2.8 %	28.09	(16.3 %)	16.11	7.0 %	0.57

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
2011	855.08	49.9 %	124.45	(5.8 %)	106.91	(7.6 %)	3.81
2012	1,005.22	17.6 %	137.79	10.7 %	115.36	7.9 %	4.11
2013	1,001.32	(0.4 %)	150.62	9.3 %	121.32	5.2 %	4.32
2014	952.27	(4.9 %)	128.15	(14.9 %)	90.31	(25.6 %)	3.22
2015	903.38	(5.1 %)	120.32	(6.1 %)	72.20	(20.1 %)	2.57
2016	690.02	(23.6 %)	136.80	13.7 %	81.89	13.4 %	2.92
2017	576.75	(16.4 %)	68.66	(49.8 %)	25.57	(68.8 %)	0.91
2018	534.97	(7.2 %)	46.15	(32.8 %)	7.11	(72.2 %)	0.25
2019	724.41	35.4 %	61.65	33.6 %	22.12	211.2 %	0.79
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 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 %
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 %
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 %
2014	13.46 %	11.68 %	9.48 %
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 %
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 %
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 %
2017	11.91 %	8.90 %	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 %
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 %
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 %
Q1 2021	13.83 %	11.06 %	8.06 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2011	14.55 %	14.14 %	12.50 %
2012	13.71 %	13.28 %	11.48 %
2013	15.04 %	13.81 %	12.12 %
2014	13.46 %	11.68 %	9.48 %
2015	13.32 %	10.98 %	7.99 %
2016	19.83 %	15.74 %	11.87 %
2017	11.91 %	8.90 %	4.43 %
2018	8.63 %	5.53 %	1.33 %
2019	8.51 %	6.28 %	3.05 %
2020	14.64 %	11.79 %	8.77 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2012	13.79 %	13.21 %	11.86 %
Q2 2012	12.46 %	12.06 %	10.64 %
Q3 2012	12.60 %	12.09 %	10.13 %
Q4 2012	16.11 %	15.88 %	13.23 %
Q1 2013	16.36 %	15.73 %	14.23 %
Q2 2013	15.16 %	14.07 %	12.59 %
Q3 2013	14.23 %	12.26 %	10.32 %
Q4 2013	14.11 %	12.68 %	10.76 %
Q1 2014	14.05 %	12.44 %	10.85 %
Q2 2014	14.38 %	13.00 %	11.44 %
Q3 2014	13.99 %	12.26 %	9.98 %
Q4 2014	10.56 %	8.66 %	6.24 %
Q1 2015	10.74 %	8.67 %	5.99 %
Q2 2015	14.06 %	11.77 %	9.28 %
Q3 2015	17.48 %	15.11 %	11.57 %
Q4 2015	11.67 %	9.01 %	5.56 %
Q1 2016	15.50 %	12.13 %	8.25 %
Q2 2016	28.70 %	23.95 %	19.62 %
Q3 2016	19.11 %	15.38 %	11.36 %
Q4 2016	15.07 %	10.56 %	7.40 %
Q1 2017	12.97 %	9.22 %	5.33 %
Q2 2017	9.02 %	5.26 %	0.36 %
Q3 2017	14.58 %	11.95 %	5.56 %
Q4 2017	11.23 %	9.69 %	6.07 %
Q1 2018	13.30 %	10.26 %	5.33 %
Q2 2018	10.84 %	8.71 %	5.03 %
Q3 2018	8.13 %	5.06 %	0.46 %
Q4 2018	1.74 %	(2.45 %)	(6.12 %)
Q1 2019	10.96 %	8.85 %	5.25 %
Q2 2019	9.14 %	6.38 %	4.17 %
Q3 2019	5.00 %	3.14 %	0.65 %
Q4 2019	8.64 %	6.35 %	2.23 %
Q1 2020	15.22 %	12.13 %	9.59 %
Q2 2020	11.39 %	9.24 %	6.30 %
Q3 2020	17.69 %	15.13 %	11.12 %
Q4 2020	14.74 %	11.24 %	8.40 %
Q1 2021	12.39 %	9.60 %	7.11 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
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
Q1 2021	28.08	2.25	2.25	15.62

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2011	28.08	3.81	3.81	13.47
2012	28.08	4.11	4.11	14.65
2013	28.08	4.32	4.32	16.84
2014	28.08	3.22	3.22	17.92
2015	28.08	2.57	2.57	18.42
2016	28.08	2.92	2.92	18.69
2017	28.08	0.91	0.91	18.62
2018	28.08	0.25	0.25	18.04
2019	28.08	0.79	0.79	18.48
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 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
Q1 2021	19.14	19.14	2.76

Period	P/E	Adjusted P/E	Price/book
2011	11.11	11.11	3.14
2012	8.37	8.37	2.35
2013	10.98	10.98	2.82
2014	14.30	14.30	2.57
2015	11.44	11.44	1.60
2016	11.80	11.80	1.84
2017	23.34	23.34	1.14
2018	74.95	74.95	1.05
2019	29.48	29.48	1.26
2020	18.14	16.52	2.46

Business Segments (Million)

Compared With The

Period	Industrial sector	Commercial sector
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
Q1 2021	181.62	45.01

Period	Industrial sector	Commercial sector
2011	664.64	190.44
2012	812.06	193.17
2013	813.26	188.06
2014	777.56	174.73
2015	730.70	172.68
2016	547.01	143.01
2017	436.09	140.67
2018	402.18	132.79
2019	563.57	160.84
2020	628.26	149.07

Financial Ratios

	Current
Market Cap (M Riyal)	819.94
Enterprise Value (EV) (M)	769.57
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)	37.32
P/E (TTM)	37.32
Price/book	2.17
Return on Average Assets (%) (TTM)	4.1
Return on Average Equity (%) (TTM)	5.3

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Aslak net profit up 7% to SAR 16.1 mln in Q1 2021

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Share Price

United Wire Factories Co. (ASLAK)

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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Aslak net profit up 7% to SAR 16.1 mln in Q1 2021

View other reports

Share Price

United Wire Factories Co. (ASLAK)

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)