MESC swings to SAR 72 mln net profit in H1

31/07/2016 Argaam Exclusive

View other reports

Share Price

Middle East Specialized Cables Co. (MESC)

Middle East Specialized Cables Co. (MESC), a Saudi-based manufacturer of industrial instruments and process control cables, swung to net profit of SAR 71.7 million in the first half of 2016, as compared to a loss of SAR 13.4 million in H1 last year.

The improvement was attributed to releasing the provision value of losses over its investment in MESC Jordan. Share sale proceeds were also recorded in H1-2016.

Financials (M)

Item	6m 2015	6m 2016	Change‬
Revenues	474.63	458.28	(3.4 %)
Gross Income	49.61	58.19	17.3 %
Operating Income	(4.70)	1.96	141.7 %
Net Income	(13.40)	71.74	635.2 %
Average Shares	40.00	40.00	-
EPS (Riyals)	(0.34)	1.79	635.2 %

Second quarter saw a net profit of SAR 76.8 million, against a loss of SAR 10.4 million in Q2 2015.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2015	Q2 2016	Change‬
Revenues	216.34	233.39	7.9 %
Gross Income	19.30	31.37	62.6 %
Operating Income	(7.72)	0.31	104.0 %
Net Income	(10.42)	76.82	837.6 %
Average Shares	40.00	40.00	-
EPS (Riyals)	(0.26)	1.92	837.6 %

Item	Q1 2016	Q2 2016	Change‬
Revenues	224.89	233.39	3.8 %
Gross Income	26.81	31.37	17.0 %
Operating Income	1.65	0.31	(81.2 %)
Net Income	(5.08)	76.82	1611.7 %
Average Shares	40.00	40.00	-
EPS (Riyals)	(0.13)	1.92	1611.7 %

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
Q1 2007	268.17	-	61.98	-	34.53	-	1.11
Q2 2007	273.80	-	72.11	-	34.87	-	1.13
Q3 2007	293.12	-	76.40	-	44.18	-	1.43
Q4 2007	268.20	-	60.87	-	36.55	-	1.18
2007	1,103.28	70.2 %	271.36	53.1 %	150.13	78.7 %	4.84
Q1 2008	357.08	33.2 %	81.84	32.0 %	49.25	42.6 %	1.59
Q2 2008	360.99	31.8 %	90.84	26.0 %	51.05	46.4 %	1.65
Q3 2008	371.57	26.8 %	76.22	(0.2 %)	21.39	(51.6 %)	0.69
Q4 2008	218.80	(18.4 %)	41.85	(31.2 %)	(33.27)	(191.0 %)	(1.07)
2008	1,308.44	18.6 %	290.75	7.1 %	88.42	(41.1 %)	2.85
Q1 2009	237.97	(33.4 %)	49.26	(39.8 %)	25.99	(47.2 %)	0.84
Q2 2009	245.59	(32.0 %)	66.17	(27.2 %)	30.13	(41.0 %)	0.97
Q3 2009	231.19	(37.8 %)	39.08	(48.7 %)	13.23	(38.1 %)	0.43
Q4 2009	319.17	45.9 %	23.31	(44.3 %)	(18.03)	45.8 %	(0.58)
2009	1,033.92	(21.0 %)	177.83	(38.8 %)	51.31	(42.0 %)	1.66
Q1 2010	288.81	21.4 %	34.67	(29.6 %)	3.12	(88.0 %)	0.10
Q2 2010	272.04	10.8 %	39.88	(39.7 %)	4.70	(84.4 %)	0.15
Q3 2010	232.69	0.6 %	20.90	(46.5 %)	(3.51)	(126.5 %)	(0.11)
Q4 2010	235.71	(26.1 %)	19.41	(16.7 %)	(99.26)	(450.4 %)	(3.20)
2010	1,029.25	(0.5 %)	114.86	(35.4 %)	(94.95)	(285.0 %)	(3.06)
Q1 2011	227.36	(21.3 %)	11.24	(67.6 %)	(20.97)	(771.4 %)	(0.68)
Q2 2011	331.40	21.8 %	24.93	(37.5 %)	1.35	(71.3 %)	0.04
Q3 2011	288.33	23.9 %	33.87	62.0 %	(6.52)	(85.8 %)	(0.21)
Q4 2011	292.30	24.0 %	25.59	31.9 %	(93.99)	5.3 %	(3.03)
2011	1,139.39	10.7 %	95.62	(16.7 %)	(120.14)	(26.5 %)	(3.88)
Q1 2012	296.38	30.4 %	51.82	361.1 %	10.72	151.1 %	0.35
Q2 2012	270.85	(18.3 %)	37.48	50.4 %	14.33	962.1 %	0.46
Q3 2012	193.87	(32.8 %)	40.37	19.2 %	9.22	241.3 %	0.30
Q4 2012	229.48	(21.5 %)	31.49	23.0 %	(3.17)	96.6 %	(0.10)
2012	990.58	(13.1 %)	161.16	68.5 %	31.10	125.9 %	1.00
Q1 2013	227.41	(23.3 %)	46.73	(9.8 %)	13.38	24.8 %	0.43
Q2 2013	228.05	(15.8 %)	31.96	(14.7 %)	0.01	(99.9 %)	0.00
Q3 2013	238.76	23.2 %	33.42	(17.2 %)	15.32	66.2 %	0.49
Q4 2013	236.51	3.1 %	33.80	7.3 %	1.69	153.4 %	0.04
2013	930.73	(6.0 %)	145.90	(9.5 %)	30.40	(2.2 %)	0.76
Q1 2014	209.55	(7.9 %)	22.30	(52.3 %)	(7.83)	(158.6 %)	(0.20)
Q2 2014	269.78	18.3 %	40.73	27.5 %	10.19	72678.6 %	0.25
Q3 2014	182.59	(23.5 %)	17.70	(47.1 %)	(19.83)	(229.5 %)	(0.50)
Q4 2014	196.55	(16.9 %)	25.73	(23.9 %)	(5.60)	(430.7 %)	(0.14)
2014	858.48	(7.8 %)	106.45	(27.0 %)	(23.07)	(175.9 %)	(0.58)
Q1 2015	258.29	23.3 %	30.32	36.0 %	(2.99)	61.8 %	(0.07)
Q2 2015	216.34	(19.8 %)	19.30	(52.6 %)	(10.42)	(202.2 %)	(0.26)
Q3 2015	231.71	26.9 %	31.77	79.5 %	(3.17)	84.0 %	(0.08)
Q4 2015	181.34	(7.7 %)	9.24	(64.1 %)	(57.31)	(924.2 %)	(1.43)
2015	887.69	3.4 %	80.74	(24.2 %)	(103.70)	(349.5 %)	(2.59)
Q1 2016	224.89	(12.9 %)	26.81	(11.6 %)	(5.08)	(70.0 %)	(0.13)
Q2 2016	233.39	7.9 %	31.37	62.6 %	76.82	837.6 %	1.92

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
2006	648.07	134.3 %	177.26	173.7 %	84.03	121.0 %	2.71
2007	1,103.28	70.2 %	271.36	53.1 %	150.13	78.7 %	4.84
2008	1,308.44	18.6 %	290.75	7.1 %	88.42	(41.1 %)	2.85
2009	1,033.92	(21.0 %)	177.83	(38.8 %)	51.31	(42.0 %)	1.66
2010	1,029.25	(0.5 %)	114.86	(35.4 %)	(94.95)	(285.0 %)	(3.06)
2011	1,139.39	10.7 %	95.62	(16.7 %)	(120.14)	(26.5 %)	(3.88)
2012	990.58	(13.1 %)	161.16	68.5 %	31.10	125.9 %	1.00
2013	930.73	(6.0 %)	145.90	(9.5 %)	30.40	(2.2 %)	0.76
2014	858.48	(7.8 %)	106.45	(27.0 %)	(23.07)	(175.9 %)	(0.58)
2015	887.69	3.4 %	80.74	(24.2 %)	(103.70)	(349.5 %)	(2.59)

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2007	-	-	-
Q2 2007	-	-	-
Q3 2007	-	-	-
Q4 2007	24.60 %	21.06 %	13.61 %
2007	24.60 %	21.06 %	13.61 %
Q1 2008	24.43 %	20.72 %	13.83 %
Q2 2008	24.23 %	20.75 %	14.15 %
Q3 2008	22.81 %	17.72 %	11.65 %
Q4 2008	22.22 %	18.31 %	6.76 %
2008	22.22 %	18.31 %	6.76 %
Q1 2009	21.71 %	17.89 %	5.48 %
Q2 2009	21.74 %	18.58 %	4.12 %
Q3 2009	21.03 %	20.45 %	3.86 %
Q4 2009	17.20 %	14.70 %	4.96 %
2009	17.20 %	14.70 %	4.96 %
Q1 2010	15.05 %	11.90 %	2.62 %
Q2 2010	12.32 %	7.95 %	0.27 %
Q3 2010	10.67 %	5.86 %	(1.23 %)
Q4 2010	11.16 %	4.89 %	(1.74 %)
2010	11.16 %	4.89 %	(1.74 %)
Q1 2011	9.45 %	2.90 %	(4.34 %)
Q2 2011	7.45 %	1.59 %	(4.42 %)
Q3 2011	8.26 %	2.60 %	(4.47 %)
Q4 2011	8.39 %	2.69 %	(4.35 %)
2011	8.39 %	2.69 %	(4.35 %)
Q1 2012	11.27 %	5.74 %	(1.48 %)
Q2 2012	12.96 %	7.29 %	(0.43 %)
Q3 2012	14.74 %	8.34 %	1.03 %
Q4 2012	16.27 %	10.03 %	3.14 %
2012	16.27 %	10.03 %	3.14 %
Q1 2013	16.93 %	10.35 %	3.66 %
Q2 2013	17.13 %	10.00 %	2.21 %
Q3 2013	15.54 %	9.11 %	2.77 %
Q4 2013	15.68 %	10.17 %	1.90 %
2013	15.68 %	10.17 %	1.90 %
Q1 2014	13.31 %	7.84 %	(0.39 %)
Q2 2014	13.64 %	8.53 %	0.70 %
Q3 2014	12.75 %	6.14 %	(3.17 %)
Q4 2014	12.40 %	5.17 %	(2.69 %)
2014	12.40 %	5.17 %	(2.69 %)
Q1 2015	12.62 %	5.34 %	(2.01 %)
Q2 2015	10.90 %	2.81 %	(4.55 %)
Q3 2015	11.86 %	4.29 %	(2.46 %)
Q4 2015	10.21 %	1.70 %	(1.40 %)
2015	9.10 %	(1.82 %)	(4.76 %)
Q1 2016	10.20 %	1.60 %	(1.70 %)
Q2 2016	11.38 %	2.10 %	(0.91 %)

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2006	27.35 %	22.86 %	12.97 %
2007	24.60 %	21.06 %	13.61 %
2008	22.22 %	18.31 %	6.76 %
2009	17.20 %	14.70 %	4.96 %
2010	11.16 %	4.89 %	(1.74 %)
2011	8.39 %	2.69 %	(4.35 %)
2012	16.27 %	10.03 %	3.14 %
2013	15.68 %	10.17 %	1.90 %
2014	12.40 %	5.17 %	(2.69 %)
2015	9.10 %	(1.82 %)	(4.76 %)

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2007	23.11 %	20.42 %	12.87 %
Q2 2007	26.34 %	21.75 %	12.74 %
Q3 2007	26.06 %	22.73 %	15.07 %
Q4 2007	22.69 %	19.17 %	13.63 %
Q1 2008	22.92 %	19.45 %	13.79 %
Q2 2008	25.16 %	21.58 %	14.14 %
Q3 2008	20.51 %	11.24 %	5.76 %
Q4 2008	19.13 %	23.03 %	(15.20 %)
Q1 2009	20.70 %	17.94 %	10.92 %
Q2 2009	26.95 %	26.36 %	12.27 %
Q3 2009	16.90 %	14.32 %	5.72 %
Q4 2009	7.30 %	3.58 %	(5.65 %)
Q1 2010	12.00 %	6.86 %	1.08 %
Q2 2010	14.66 %	8.80 %	1.73 %
Q3 2010	8.98 %	4.32 %	(1.51 %)
Q4 2010	8.23 %	(1.50 %)	(9.45 %)
Q1 2011	4.94 %	(1.04 %)	(9.23 %)
Q2 2011	7.52 %	3.69 %	0.41 %
Q3 2011	11.75 %	7.56 %	(2.26 %)
Q4 2011	8.76 %	(0.33 %)	(8.01 %)
Q1 2012	17.48 %	12.27 %	3.62 %
Q2 2012	13.84 %	9.78 %	5.29 %
Q3 2012	20.82 %	13.39 %	4.75 %
Q4 2012	13.72 %	4.61 %	(1.38 %)
Q1 2013	20.55 %	14.22 %	5.88 %
Q2 2013	14.01 %	8.34 %	0.01 %
Q3 2013	14.00 %	9.29 %	6.42 %
Q4 2013	14.29 %	8.91 %	(4.66 %)
Q1 2014	10.64 %	4.44 %	(3.74 %)
Q2 2014	15.10 %	10.69 %	3.78 %
Q3 2014	9.69 %	(2.20 %)	(10.86 %)
Q4 2014	13.09 %	5.23 %	(2.85 %)
Q1 2015	11.74 %	5.17 %	(1.16 %)
Q2 2015	8.92 %	2.01 %	(4.81 %)
Q3 2015	13.71 %	4.63 %	(1.37 %)
Q4 2015	5.10 %	(7.36 %)	2.30 %
Q1 2016	11.92 %	5.32 %	(2.26 %)
Q2 2016	13.44 %	3.86 %	(1.65 %)

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2007	30.99	-	-	11.60
Q2 2007	30.99	-	-	12.72
Q3 2007	30.99	-	-	12.83
Q4 2007	30.99	4.84	4.84	14.02
Q1 2008	30.99	5.32	5.32	15.62
Q2 2008	30.99	5.84	5.84	17.27
Q3 2008	30.99	5.11	5.11	17.44
Q4 2008	30.99	2.85	2.85	16.35
Q1 2009	30.99	2.10	2.10	15.58
Q2 2009	30.99	1.43	1.43	16.54
Q3 2009	30.99	1.16	1.16	16.95
Q4 2009	30.99	1.66	1.66	16.27
Q1 2010	30.99	0.92	0.92	15.08
Q2 2010	30.99	0.10	0.10	15.41
Q3 2010	30.99	(0.44)	(0.44)	15.03
Q4 2010	30.99	(3.06)	(0.58)	11.85
Q1 2011	30.99	(3.84)	(1.36)	11.26
Q2 2011	30.99	(3.95)	(1.46)	11.44
Q3 2011	30.99	(4.05)	(1.56)	10.41
Q4 2011	30.99	(3.88)	(1.60)	7.83
Q1 2012	30.99	(2.85)	(0.58)	8.43
Q2 2012	30.99	(2.43)	(0.16)	8.89
Q3 2012	30.99	(1.93)	0.35	9.19
Q4 2012	30.99	1.00	1.00	9.08
Q1 2013	30.99	1.09	1.09	9.52
Q2 2013	30.99	0.63	0.63	9.52
Q3 2013	30.99	0.82	0.82	10.02
Q4 2013	40.00	0.76	0.44	12.60
Q1 2014	40.00	0.23	(0.09)	12.42
Q2 2014	40.00	0.48	0.17	12.67
Q3 2014	40.00	(0.39)	(0.71)	12.17
Q4 2014	40.00	(0.58)	(0.58)	12.02
Q1 2015	40.00	(0.46)	(0.46)	11.95
Q2 2015	40.00	(0.97)	(0.97)	11.68
Q3 2015	40.00	(0.55)	(0.55)	11.60
Q4 2015	40.00	(1.85)	(0.31)	9.35
Q1 2016	40.00	(1.90)	(0.36)	9.22
Q2 2016	40.00	0.28	(0.20)	11.28

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2006	30.99	2.71	2.71	10.46
2007	30.99	4.84	4.84	14.02
2008	30.99	2.85	2.85	16.35
2009	30.99	1.66	1.66	16.27
2010	30.99	(3.06)	(0.58)	11.85
2011	30.99	(3.88)	(1.60)	7.83
2012	30.99	1.00	1.00	9.08
2013	40.00	0.76	0.44	12.60
2014	40.00	(0.58)	(0.58)	12.02
2015	40.00	(2.59)	(1.06)	9.35

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2007	-	-	-
Q2 2007	-	-	-
Q3 2007	-	-	-
Q4 2007	23.04	23.04	7.96
Q1 2008	22.11	22.11	7.53
Q2 2008	30.80	30.80	10.42
Q3 2008	27.40	27.40	8.03
Q4 2008	21.66	21.66	3.78
Q1 2009	22.10	22.10	2.98
Q2 2009	49.25	49.25	4.25
Q3 2009	61.67	61.67	4.23
Q4 2009	35.41	35.41	3.60
Q1 2010	58.07	58.07	3.53
Q2 2010	More than 100	More than 100	2.20
Q3 2010	NEG	NEG	2.06
Q4 2010	NEG	NEG	2.58
Q1 2011	NEG	NEG	2.41
Q2 2011	NEG	NEG	2.49
Q3 2011	NEG	NEG	2.43
Q4 2011	NEG	NEG	3.45
Q1 2012	NEG	NEG	4.36
Q2 2012	NEG	NEG	3.37
Q3 2012	NEG	More than 100	4.06
Q4 2012	29.79	29.79	3.29
Q1 2013	28.30	28.30	3.24
Q2 2013	50.98	50.98	3.36
Q3 2013	31.71	31.71	2.61
Q4 2013	27.14	46.68	1.64
Q1 2014	96.95	NEG	1.79
Q2 2014	47.09	More than 100	1.80
Q3 2014	NEG	NEG	2.35
Q4 2014	NEG	NEG	2.73
Q1 2015	NEG	NEG	1.95
Q2 2015	NEG	NEG	1.73
Q3 2015	NEG	NEG	1.25
Q4 2015	NEG	NEG	1.48
Q1 2016	NEG	NEG	1.15
Q2 2016	39.30	NEG	0.98

Period	P/E	Adjusted P/E	Price/book
2006	-	-	-
2007	23.04	23.04	7.96
2008	21.66	21.66	3.78
2009	35.41	35.41	3.60
2010	NEG	NEG	2.58
2011	NEG	NEG	3.45
2012	29.79	29.79	3.29
2013	27.14	46.68	1.64
2014	NEG	NEG	2.73
2015	NEG	NEG	1.48

Financial Ratios

	Current
Market Cap (M Riyal)	1,280.00
Enterprise Value (EV) (M)	1,273.98
Shares Outstanding ((M))	40.00
EPS ( Riyal) (TTM)	1.56
Book Value (BV) ( Riyal)	10.09
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	20.49
P/E (TTM)	20.49
Price/book	3.17
Return on Average Assets (%) (TTM)	7.9
Return on Average Equity (%) (TTM)	16.8

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

MESC swings to SAR 72 mln net profit in H1

View other reports

Share Price

Middle East Specialized Cables Co. (MESC)

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

Financial Ratios

Comments {{getCommentCount()}}

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

{{comment.DisplayName}}

Sign In

×

Forgot password?

MESC swings to SAR 72 mln net profit in H1

View other reports

Share Price

Middle East Specialized Cables Co. (MESC)

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

Financial Ratios

Comments {{getCommentCount()}}

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

{{comment.DisplayName}}