SISCO’s 9M profit falls 54% on lower revenue

28/10/2018 Argaam Exclusive

View other reports

Share Price

Sustained Infrastructure Holding Co. (SISCO HOLDING)

Saudi Industrial Services Co. (SISCO) reported a net profit of SAR 23.7 million for the first nine months of 2018, down 54.3 percent year-on-year (YoY), due to lower revenue, a decline in business activity in the logistics segment, as well as higher direct costs.

Financial charges also increased and a there was a one-off income of SAR 11 million last year, SISCO said.

Financials (M)

Item	9m 2017	9m 2018	Change‬
Revenues	444.60	416.32	(6.4 %)
Gross Income	176.50	147.08	(16.7 %)
Operating Income	79.76	46.18	(42.1 %)
Net Income	51.90	23.71	(54.3 %)
Average Shares	81.60	81.60	-
EPS (Riyals)	0.64	0.29	(54.3 %)

Net profit in the third quarter almost doubled, surging 94.7 percent YoY to SAR 11.1 million, on account of higher container volume handled by ports segment.

On a sequential basis, net profit declined 7.5 percent from the previous quarter, as revenue decreased in the logistics and water segments.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2017	Q3 2018	Change‬
Revenues	123.35	147.42	19.5 %
Gross Income	39.42	54.11	37.3 %
Operating Income	10.12	17.75	75.4 %
Net Income	5.68	11.10	95.6 %
Average Shares	81.60	81.60	-
EPS (Riyals)	0.07	0.14	95.6 %

Item	Q2 2018	Q3 2018	Change‬
Revenues	150.93	147.42	(2.3 %)
Gross Income	55.83	54.11	(3.1 %)
Operating Income	24.59	17.75	(27.8 %)
Net Income	12.04	11.10	(7.8 %)
Average Shares	81.60	81.60	-
EPS (Riyals)	0.15	0.14	(7.8 %)

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
Q1 2009	35.07	11.4 %	16.45	25.4 %	0.70	369.4 %	0.01
Q2 2009	37.19	9.3 %	17.62	14.8 %	(1.99)	(322.3 %)	(0.02)
Q3 2009	36.15	4.3 %	16.96	10.5 %	0.77	(25.3 %)	0.01
Q4 2009	30.48	(13.1 %)	13.89	(15.2 %)	1.77	106.8 %	0.02
2009	138.89	2.7 %	64.93	7.9 %	1.25	105.2 %	0.02
Q1 2010	55.16	57.3 %	20.58	25.1 %	2.10	201.7 %	0.03
Q2 2010	67.11	80.5 %	28.08	59.3 %	2.21	211.1 %	0.03
Q3 2010	77.23	113.6 %	31.46	85.5 %	0.23	(70.0 %)	0.00
Q4 2010	82.34	170.1 %	28.37	104.2 %	(2.42)	(236.4 %)	(0.03)
2010	281.84	102.9 %	108.50	67.1 %	2.13	70.6 %	0.03
Q1 2011	79.19	43.6 %	31.46	52.8 %	(0.78)	(137.4 %)	(0.01)
Q2 2011	96.20	43.3 %	39.31	40.0 %	5.35	141.5 %	0.07
Q3 2011	110.78	43.4 %	52.49	66.8 %	7.00	2915.1 %	0.09
Q4 2011	112.09	36.1 %	40.08	41.3 %	(0.51)	78.7 %	(0.01)
2011	398.25	41.3 %	163.34	50.5 %	11.04	419.0 %	0.14
Q1 2012	107.73	36.0 %	47.39	50.6 %	6.49	927.4 %	0.08
Q2 2012	121.48	26.3 %	51.84	31.9 %	10.97	105.1 %	0.13
Q3 2012	122.98	11.0 %	54.91	4.6 %	11.92	70.4 %	0.15
Q4 2012	121.25	8.2 %	61.64	53.8 %	8.86	1823.0 %	0.11
2012	473.44	18.9 %	215.78	32.1 %	38.23	246.2 %	0.47
Q1 2013	123.55	14.7 %	61.47	29.7 %	13.44	107.2 %	0.16
Q2 2013	142.55	17.3 %	76.21	47.0 %	19.59	78.7 %	0.24
Q3 2013	128.33	4.3 %	62.64	14.1 %	11.25	(5.7 %)	0.14
Q4 2013	125.60	3.6 %	59.30	(3.8 %)	11.76	32.8 %	0.14
2013	520.02	9.8 %	259.62	20.3 %	56.04	46.6 %	0.69
Q1 2014	121.44	(1.7 %)	56.32	(8.4 %)	12.37	(8.0 %)	0.15
Q2 2014	143.10	0.4 %	71.87	(5.7 %)	21.72	10.8 %	0.27
Q3 2014	161.91	26.2 %	86.42	38.0 %	25.53	127.0 %	0.31
Q4 2014	147.29	17.3 %	73.75	24.4 %	18.46	57.0 %	0.23
2014	561.00	7.9 %	283.62	9.2 %	78.08	39.3 %	0.96
Q1 2015	146.31	20.5 %	74.16	31.7 %	18.47	49.3 %	0.23
Q2 2015	164.46	14.9 %	82.57	14.9 %	25.22	16.1 %	0.31
Q3 2015	153.25	(5.3 %)	71.23	(17.6 %)	24.79	(2.9 %)	0.30
Q4 2015	152.07	3.2 %	78.61	6.6 %	22.03	19.3 %	0.27
2015	616.08	9.8 %	295.81	4.3 %	90.51	15.9 %	1.11
Q1 2016	171.64	17.3 %	76.93	3.7 %	24.21	31.1 %	0.30
Q2 2016	182.51	11.0 %	85.56	3.6 %	29.04	15.1 %	0.36
Q3 2016	163.81	6.9 %	67.57	(5.1 %)	15.67	(36.8 %)	0.19
Q4 2016	172.82	13.6 %	62.65	(20.3 %)	21.34	(3.1 %)	0.26
2016	690.77	12.1 %	292.71	(1.0 %)	90.26	(0.3 %)	1.11
Q1 2017	171.96	0.2 %	75.20	(2.3 %)	22.13	(8.6 %)	0.27
Q2 2017	149.29	(18.2 %)	61.88	(27.7 %)	24.10	(17.0 %)	0.30
Q3 2017	123.35	(24.7 %)	39.42	(41.7 %)	5.68	(63.8 %)	0.07
Q4 2017	117.81	(31.8 %)	22.19	(64.6 %)	6.91	(67.6 %)	0.08
2017	562.41	(18.6 %)	198.69	(32.1 %)	58.81	(34.8 %)	0.72
Q1 2018	117.98	(31.4 %)	37.14	(50.6 %)	0.57	(97.4 %)	0.01
Q2 2018	150.93	1.1 %	55.83	(9.8 %)	12.04	(50.1 %)	0.15
Q3 2018	147.42	19.5 %	54.11	37.3 %	11.10	95.6 %	0.14

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
2008	135.24	25.4 %	60.19	39.5 %	(24.21)	(355.5 %)	(0.30)
2009	138.89	2.7 %	64.93	7.9 %	1.25	105.2 %	0.02
2010	281.84	102.9 %	108.50	67.1 %	2.13	70.6 %	0.03
2011	398.25	41.3 %	163.34	50.5 %	11.04	419.0 %	0.14
2012	473.44	18.9 %	215.78	32.1 %	38.23	246.2 %	0.47
2013	520.02	9.8 %	259.62	20.3 %	56.04	46.6 %	0.69
2014	561.00	7.9 %	283.62	9.2 %	78.08	39.3 %	0.96
2015	616.08	9.8 %	295.81	4.3 %	90.51	15.9 %	1.11
2016	690.77	12.1 %	292.71	(1.0 %)	90.26	(0.3 %)	1.11
2017	562.41	(18.6 %)	198.69	(32.1 %)	58.81	(34.8 %)	0.72

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2009	45.76 %	25.53 %	(16.75 %)
Q2 2009	46.34 %	21.50 %	(18.41 %)
Q3 2009	46.98 %	23.08 %	(18.40 %)
Q4 2009	46.74 %	24.33 %	0.90 %
2009	46.74 %	24.33 %	0.90 %
Q1 2010	43.44 %	28.07 %	1.67 %
Q2 2010	42.09 %	33.58 %	3.63 %
Q3 2010	40.88 %	37.29 %	2.74 %
Q4 2010	38.50 %	38.46 %	0.76 %
2010	38.50 %	38.46 %	0.76 %
Q1 2011	39.03 %	39.26 %	(0.25 %)
Q2 2011	38.99 %	40.90 %	0.71 %
Q3 2011	41.15 %	42.44 %	2.48 %
Q4 2011	41.01 %	39.13 %	2.77 %
2011	41.01 %	39.13 %	2.77 %
Q1 2012	42.00 %	38.90 %	1.95 %
Q2 2012	42.43 %	39.65 %	3.08 %
Q3 2012	41.83 %	40.81 %	4.06 %
Q4 2012	45.58 %	45.44 %	6.00 %
2012	45.58 %	45.44 %	6.00 %
Q1 2013	46.98 %	47.60 %	9.28 %
Q2 2013	49.82 %	48.95 %	10.63 %
Q3 2013	50.80 %	47.87 %	10.41 %
Q4 2013	49.93 %	47.92 %	11.06 %
2013	49.93 %	47.92 %	11.06 %
Q1 2014	49.13 %	46.89 %	9.78 %
Q2 2014	48.24 %	46.63 %	10.14 %
Q3 2014	49.62 %	47.59 %	12.09 %
Q4 2014	50.26 %	46.83 %	12.61 %
2014	50.56 %	47.92 %	12.89 %
Q1 2015	51.15 %	46.51 %	14.06 %
Q2 2015	51.12 %	46.37 %	14.14 %
Q3 2015	49.36 %	45.78 %	14.22 %
Q4 2015	49.76 %	46.55 %	14.69 %
2015	48.01 %	46.55 %	14.69 %
Q1 2016	48.23 %	46.11 %	14.62 %
Q2 2016	47.36 %	45.41 %	14.79 %
Q3 2016	46.07 %	43.57 %	13.20 %
Q4 2016	42.37 %	41.45 %	11.71 %
2016	42.37 %	41.45 %	11.71 %
Q1 2017	42.10 %	41.23 %	11.76 %
Q2 2017	40.63 %	40.77 %	9.90 %
Q3 2017	38.73 %	40.08 %	8.93 %
Q4 2017	35.33 %	37.63 %	6.19 %
2017	35.33 %	37.61 %	6.19 %
Q1 2018	31.59 %	35.74 %	2.61 %
Q2 2018	30.31 %	34.95 %	2.43 %
Q3 2018	31.69 %	35.54 %	3.34 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2008	44.51 %	25.43 %	(17.90 %)
2009	46.74 %	24.33 %	0.90 %
2010	38.50 %	38.46 %	0.76 %
2011	41.01 %	39.13 %	2.77 %
2012	45.58 %	45.44 %	6.00 %
2013	49.93 %	47.92 %	11.06 %
2014	50.56 %	47.92 %	12.89 %
2015	48.01 %	46.55 %	14.69 %
2016	42.37 %	41.45 %	11.71 %
2017	35.33 %	37.61 %	6.19 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2009	46.91 %	28.39 %	1.98 %
Q2 2009	47.39 %	12.55 %	(5.36 %)
Q3 2009	46.91 %	26.78 %	2.14 %
Q4 2009	45.57 %	31.13 %	5.81 %
Q1 2010	37.32 %	37.70 %	3.80 %
Q2 2010	41.85 %	34.96 %	3.30 %
Q3 2010	40.74 %	41.45 %	0.30 %
Q4 2010	34.45 %	39.03 %	(2.93 %)
Q1 2011	39.72 %	41.01 %	(0.99 %)
Q2 2011	40.86 %	41.98 %	5.56 %
Q3 2011	47.38 %	46.39 %	6.31 %
Q4 2011	35.76 %	28.17 %	(0.46 %)
Q1 2012	43.99 %	39.61 %	(3.26 %)
Q2 2012	42.68 %	44.15 %	9.03 %
Q3 2012	44.65 %	50.09 %	9.69 %
Q4 2012	50.84 %	47.19 %	7.45 %
Q1 2013	49.75 %	48.94 %	10.92 %
Q2 2013	53.46 %	49.50 %	13.88 %
Q3 2013	48.81 %	45.68 %	8.86 %
Q4 2013	47.22 %	47.41 %	10.25 %
Q1 2014	46.37 %	44.59 %	5.46 %
Q2 2014	50.23 %	48.52 %	15.18 %
Q3 2014	53.38 %	49.15 %	15.77 %
Q4 2014	50.07 %	44.46 %	12.53 %
Q1 2015	50.69 %	43.68 %	12.62 %
Q2 2015	50.21 %	47.73 %	15.34 %
Q3 2015	46.48 %	46.95 %	16.18 %
Q4 2015	51.69 %	47.62 %	14.48 %
Q1 2016	44.82 %	42.48 %	12.65 %
Q2 2016	46.88 %	45.04 %	15.91 %
Q3 2016	41.25 %	39.33 %	9.57 %
Q4 2016	36.25 %	38.63 %	8.36 %
Q1 2017	43.73 %	41.61 %	12.87 %
Q2 2017	41.45 %	43.87 %	8.65 %
Q3 2017	31.96 %	35.42 %	4.60 %
Q4 2017	18.83 %	26.22 %	(5.00 %)
Q1 2018	31.48 %	35.32 %	0.48 %
Q2 2018	36.99 %	41.11 %	7.97 %
Q3 2018	36.71 %	37.45 %	7.53 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2009	81.60	(0.28)	(0.28)	8.85
Q2 2009	81.60	(0.32)	(0.32)	8.87
Q3 2009	81.60	(0.32)	(0.32)	8.92
Q4 2009	81.60	0.02	0.02	8.94
Q1 2010	81.60	0.03	0.03	9.02
Q2 2010	81.60	0.08	0.08	9.02
Q3 2010	81.60	0.08	0.08	9.04
Q4 2010	81.60	0.03	0.03	8.89
Q1 2011	81.60	(0.01)	(0.01)	8.88
Q2 2011	81.60	0.03	0.03	8.94
Q3 2011	81.60	0.11	0.11	9.03
Q4 2011	81.60	0.14	0.14	9.02
Q1 2012	81.60	0.22	0.10	9.06
Q2 2012	81.60	0.29	0.17	9.14
Q3 2012	81.60	0.35	0.23	9.21
Q4 2012	81.60	0.47	0.35	9.39
Q1 2013	81.60	0.55	0.56	9.51
Q2 2013	81.60	0.66	0.66	9.83
Q3 2013	81.60	0.65	0.66	9.93
Q4 2013	81.60	0.69	0.70	10.13
Q1 2014	81.60	0.67	0.62	10.25
Q2 2014	81.60	0.70	0.64	10.53
Q3 2014	81.60	0.87	0.82	10.94
Q4 2014	81.60	0.96	0.89	11.19
Q1 2015	81.60	1.03	1.03	11.37
Q2 2015	81.60	1.07	1.07	11.28
Q3 2015	81.60	1.07	1.07	11.58
Q4 2015	81.60	1.11	1.11	11.91
Q1 2016	81.60	1.18	1.15	12.07
Q2 2016	81.60	1.23	1.20	11.98
Q3 2016	81.60	1.11	1.08	12.17
Q4 2016	81.60	1.11	0.99	12.36
Q1 2017	81.60	1.08	1.00	12.68
Q2 2017	81.60	1.02	0.80	12.99
Q3 2017	81.60	0.90	0.68	13.07
Q4 2017	81.60	0.72	0.43	13.08
Q1 2018	81.60	0.46	0.16	13.09
Q2 2018	81.60	0.31	0.15	12.90
Q3 2018	81.60	0.38	0.22	13.06

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2008	81.60	(0.30)	(0.30)	8.84
2009	81.60	0.02	0.02	8.94
2010	81.60	0.03	0.03	8.89
2011	81.60	0.14	0.14	9.02
2012	81.60	0.47	0.35	9.39
2013	81.60	0.69	0.70	10.13
2014	81.60	0.96	0.89	11.19
2015	81.60	1.11	1.11	11.91
2016	81.60	1.11	0.99	12.36
2017	81.60	0.72	0.43	13.08

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2009	NEG	NEG	0.88
Q2 2009	NEG	NEG	1.20
Q3 2009	NEG	NEG	1.50
Q4 2009	More than 100	More than 100	1.38
Q1 2010	More than 100	More than 100	1.47
Q2 2010	More than 100	More than 100	1.15
Q3 2010	More than 100	More than 100	1.52
Q4 2010	More than 100	More than 100	1.41
Q1 2011	NEG	NEG	1.23
Q2 2011	More than 100	More than 100	1.36
Q3 2011	89.96	89.96	1.12
Q4 2011	81.57	81.57	1.22
Q1 2012	71.82	More than 100	1.78
Q2 2012	37.06	63.66	1.19
Q3 2012	35.46	54.26	1.36
Q4 2012	24.27	32.67	1.21
Q1 2013	22.34	22.23	1.30
Q2 2013	17.24	17.11	1.16
Q3 2013	19.26	19.06	1.26
Q4 2013	20.44	19.92	1.39
Q1 2014	22.01	23.89	1.45
Q2 2014	20.89	22.68	1.39
Q3 2014	18.60	19.89	1.49
Q4 2014	13.14	14.18	1.12
Q1 2015	13.49	13.49	1.22
Q2 2015	14.12	14.12	1.34
Q3 2015	12.22	12.22	1.12
Q4 2015	11.02	11.02	1.03
Q1 2016	9.10	9.34	0.89
Q2 2016	8.95	9.18	0.92
Q3 2016	9.73	10.00	0.89
Q4 2016	11.22	12.52	1.00
Q1 2017	11.61	12.59	0.99
Q2 2017	11.64	14.86	0.91
Q3 2017	13.60	18.06	0.93
Q4 2017	15.82	26.72	0.87
Q1 2018	28.43	79.86	0.99
Q2 2018	47.94	97.47	1.15
Q3 2018	34.27	58.90	0.98

Period	P/E	Adjusted P/E	Price/book
2008	NEG	NEG	0.89
2009	More than 100	More than 100	1.38
2010	More than 100	More than 100	1.41
2011	81.57	81.57	1.22
2012	24.27	32.67	1.21
2013	20.44	19.92	1.39
2014	13.14	14.18	1.12
2015	11.02	11.02	1.03
2016	11.22	12.52	1.00
2017	15.82	26.72	0.87

Business Segments (Million)

Compared With The

Period	Port development and operation	Logistics spaces and support services	Water desalination and distriution	Industrial support service
Q1 2009	-	9.51	16.53	9.03
Q2 2009	-	10.31	17.91	8.97
Q3 2009	-	10.26	17.64	8.26
Q4 2009	0.71	2.41	18.60	8.76
Q1 2010	17.07	9.62	19.02	9.46
Q2 2010	26.99	9.43	20.87	9.82
Q3 2010	38.43	10.26	19.19	9.34
Q4 2010	38.80	14.44	19.58	9.53
Q1 2011	41.06	10.72	17.98	9.44
Q2 2011	56.92	11.02	18.08	10.18
Q3 2011	71.30	10.80	18.94	9.73
Q4 2011	70.48	12.27	18.92	10.43
Q1 2012	65.58	13.96	18.05	10.15
Q2 2012	77.66	15.32	17.82	10.67
Q3 2012	80.89	17.25	15.26	9.57
Q4 2012	81.33	18.56	14.56	6.81
Q1 2013	81.71	17.89	17.10	6.86
Q2 2013	97.91	17.70	19.94	7.00
Q3 2013	90.45	18.80	12.11	6.97
Q4 2013	82.45	21.26	18.56	3.32
Q1 2014	74.88	22.26	19.29	5.01
Q2 2014	91.09	23.88	23.63	4.49
Q3 2014	103.17	29.55	24.82	4.37
Q4 2014	97.38	26.12	23.74	-
Q1 2015	96.48	25.11	24.72	-
Q2 2015	110.85	25.18	28.43	-
Q3 2015	100.36	25.61	27.28	-
Q4 2015	102.03	24.57	25.47	-
Q1 2016	119.74	25.79	26.11	-
Q2 2016	130.38	24.93	27.20	-
Q3 2016	113.35	24.63	25.82	-
Q4 2016	119.94	26.23	26.65	-
Q1 2017	119.03	28.18	24.75	-
Q2 2017	102.75	21.56	24.98	-
Q3 2017	75.63	22.91	24.81	-
Q4 2017	71.64	22.28	23.89	-
Q1 2018	76.21	17.54	24.22	-
Q2 2018	100.74	24.14	26.06	-
Q3 2018	101.92	21.50	24.00	-

Period	Port development and operation	Logistics spaces and support services	Water desalination and distriution	Industrial support service
2008	-	28.86	70.09	36.29
2009	0.71	32.49	70.67	35.02
2010	121.28	43.74	78.66	38.16
2011	239.76	44.79	73.92	39.78
2012	305.46	65.09	65.70	37.20
2013	352.52	75.65	67.71	24.14
2014	366.52	101.81	91.47	1.19
2015	409.71	100.48	105.90	-
2016	483.41	101.58	105.78	-
2017	369.06	94.93	98.42	-

Financial Ratios

	Current
Market Cap (M Riyal)	2,913.12
Enterprise Value (EV) (M)	4,090.38
Shares Outstanding ((M))	81.60
EPS ( Riyal) (TTM)	0.37
Book Value (BV) ( Riyal)	18.32
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	48.43
P/E (TTM)	More than 100
Price/book	1.95
Return on Average Assets (%) (TTM)	0.5
Return on Average Equity (%) (TTM)	2.0

Twitter

Facebook

Linked in

Comments {{getCommentCount()}}

Be the first to comment

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

Sorry: the validity period has ended to comment on this news

Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Sign In

Search Result

SISCO’s 9M profit falls 54% on lower revenue

View other reports

Share Price

Sustained Infrastructure Holding Co. (SISCO HOLDING)

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) 2018 Q3

Financial Ratios

Comments {{getCommentCount()}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}}

Sign In

×

Forgot password?

SISCO’s 9M profit falls 54% on lower revenue

View other reports

Share Price

Sustained Infrastructure Holding Co. (SISCO HOLDING)

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) Q3 2018

Revenue by Business Segment (Latest) 2018 Q3

Financial Ratios

Comments {{getCommentCount()}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}}

Business Segments (Million)