Shams sees 2% rise in net profit for nine-months 2015

Shams sees 2% rise in net profit for nine-months 2015

15/10/2015 Argaam Exclusive

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Tourism Enterprise Co. (Shams) reported a net profit of SAR 4.46 million for the first nine months of 2015; a 1.8 percent year-on-year (YOY) increase it attributed to lower expenses during the period.



Financials (M)

Item 9m 2014 9m 2015 Change‬
Revenues 17.86 17.52 (1.9 %)
Gross Income 12.93 13.45 4.0 %
Operating Income 4.91 5.04 2.7 %
Net Income 4.38 4.46 1.8 %
Average Shares 677.40 677.40 -
EPS (Halala) 0.65 0.66 1.8 %

 

The company’s Q3-2015 net profit rose by nearly one percent to SAR 2.19 million when compared to the same quarter last year. Net profit jumped 35 percent quarter-on-quarter supported by higher revenue.



Current Quarter Comparison (M)

Compared With The
Item Q3 2014 Q3 2015 Change‬
Revenues 7.49 7.04 (6.0 %)
Gross Income 5.08 5.13 1.1 %
Operating Income 2.36 2.40 1.9 %
Net Income 2.17 2.19 1.0 %
Average Shares 677.40 677.40 -
EPS (Halala) 0.32 0.32 1.0 %


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2006 1.83 (10.7 %) 1.02 66.0 % (0.43) (439.1 %)
Q2 2006 2.89 11.0 % 2.07 (22.3 %) 0.76 138.0 %
Q3 2006 3.51 26.6 % 2.06 19.5 % 0.54 (0.4 %)
Q4 2006 2.22 5.5 % 0.70 (16.8 %) (1.24) (108.2 %)
Q1 2007 2.74 49.6 % 1.88 84.6 % 0.46 204.8 %
Q2 2007 2.92 1.1 % 1.60 (22.6 %) 0.11 (85.2 %)
Q3 2007 4.07 16.1 % 2.87 39.6 % 0.92 69.4 %
Q4 2007 3.78 70.3 % 2.28 224.9 % 0.18 114.7 %
Q1 2008 3.00 9.7 % 1.60 (15.2 %) (0.15) (133.2 %)
Q2 2008 3.88 32.8 % 2.21 38.1 % 0.32 179.6 %
Q3 2008 3.94 (3.3 %) 1.73 (39.5 %) 0.03 (96.7 %)
Q4 2008 3.86 2.0 % 1.88 (17.7 %) (0.35) (294.5 %)
Q1 2009 4.12 37.2 % 2.28 42.6 % 0.24 259.6 %
Q2 2009 3.85 (0.6 %) 2.18 (1.4 %) 0.07 (77.5 %)
Q3 2009 3.78 (4.1 %) 1.80 3.9 % (0.29) (1060.0 %)
Q4 2009 2.12 (45.1 %) (1.26) (166.9 %) (2.87) (711.6 %)
Q1 2010 2.67 (35.1 %) 1.68 (26.0 %) 0.15 (36.1 %)
Q2 2010 3.78 (1.8 %) 2.71 24.0 % 0.65 808.5 %
Q3 2010 4.97 31.7 % 3.47 92.9 % 1.28 544.8 %
Q4 2010 3.46 63.2 % 2.04 262.4 % (0.02) 99.5 %
Q1 2011 2.71 1.4 % 2.11 25.4 % 0.22 41.6 %
Q2 2011 4.83 27.6 % 3.47 28.1 % 1.18 82.5 %
Q3 2011 5.70 14.7 % 3.83 10.1 % 1.81 41.5 %
Q4 2011 4.37 26.4 % 2.73 33.8 % 0.52 3560.0 %
Q1 2012 3.54 30.7 % 2.42 14.4 % 0.50 128.0 %
Q2 2012 5.02 4.0 % 3.64 5.1 % 1.55 31.4 %
Q3 2012 6.26 9.9 % 4.27 11.5 % 2.22 22.5 %
Q4 2012 5.33 22.1 % 2.81 3.0 % 0.36 (31.2 %)
Q1 2013 4.88 37.8 % 2.82 16.5 % 0.69 39.6 %
Q2 2013 5.51 9.6 % 4.13 13.3 % 1.74 12.7 %
Q3 2013 6.11 (2.4 %) 4.66 9.1 % 2.31 3.9 %
Q4 2013 4.69 (12.1 %) 3.22 14.5 % 0.39 9.5 %
Q1 2014 4.18 (14.3 %) 3.24 15.1 % 0.75 8.2 %
Q2 2014 6.19 12.4 % 4.62 11.9 % 1.80 3.4 %
Q3 2014 7.49 22.5 % 5.08 9.0 % 2.36 2.3 %
Q4 2014 4.70 0.2 % 3.31 2.8 % 0.41 5.6 %
Q1 2015 5.00 19.4 % 3.63 12.2 % 0.80 6.1 %
Q2 2015 5.49 (11.4 %) 4.69 1.5 % 1.84 2.3 %
Q3 2015 7.04 (6.0 %) 5.13 1.1 % 2.40 1.9 %


Profit Performance (Million)

Period Net Income Change EPS(Halala) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2006 (1.23) (2184.7 %) (0.18) - (1.23) 0.00
Q2 2006 (2.04) (0.8 %) (0.30) - (2.04) 0.00
Q3 2006 (0.26) (115.1 %) (0.04) - (0.26) 0.00
Q4 2006 (4.88) (522.2 %) (0.72) - (4.88) (0.01)
Q1 2007 0.48 139.0 % 0.07 - 0.48 0.00
Q2 2007 0.14 106.8 % 0.02 - 0.14 0.00
Q3 2007 1.05 507.4 % 0.16 - 1.05 0.00
Q4 2007 0.45 109.2 % 0.07 - 0.45 0.00
Q1 2008 (0.24) (149.0 %) (0.03) - (0.24) 0.00
Q2 2008 0.78 468.1 % 0.12 - 0.78 0.00
Q3 2008 0.90 (14.2 %) 0.13 - 0.90 0.00
Q4 2008 (1.27) (383.5 %) (0.19) - (1.27) 0.00
Q1 2009 0.11 146.8 % 0.02 - 0.11 0.00
Q2 2009 (0.06) (107.3 %) (0.01) - (0.06) 0.00
Q3 2009 (0.43) (148.0 %) (0.06) - (0.43) 0.00
Q4 2009 (3.02) (137.2 %) (0.45) - (3.02) 0.00
Q1 2010 0.04 (64.5 %) 0.01 - 0.04 0.00
Q2 2010 0.51 1001.8 % 0.08 - 0.51 0.00
Q3 2010 1.14 364.0 % 0.17 - 1.14 0.00
Q4 2010 (0.10) 96.6 % (0.02) - (0.10) 0.00
Q1 2011 0.09 120.5 % 0.01 - 0.09 0.00
Q2 2011 1.05 104.1 % 0.15 - 1.05 0.00
Q3 2011 1.85 61.4 % 0.27 - 1.85 0.00
Q4 2011 0.32 411.8 % 0.05 - 0.32 0.00
Q1 2012 0.35 311.6 % 0.05 - 0.35 0.00
Q2 2012 1.27 21.0 % 0.19 - 1.27 0.00
Q3 2012 2.04 10.5 % 0.30 - 2.04 0.00
Q4 2012 0.60 88.7 % 0.09 - 0.60 0.00
Q1 2013 5.62 1487.3 % 0.83 13.06 (7.45) (0.01)
Q2 2013 1.51 19.1 % 0.22 - 1.51 0.00
Q3 2013 2.12 4.0 % 0.31 - 2.12 0.00
Q4 2013 0.53 (11.2 %) 0.08 - 0.53 0.00
Q1 2014 0.61 (89.2 %) 0.09 0.04 0.56 0.00
Q2 2014 1.61 6.3 % 0.24 0.00 1.61 0.00
Q3 2014 2.17 2.4 % 0.32 0.00 2.17 0.00
Q4 2014 0.45 (15.4 %) 0.07 - 0.45 0.00
Q1 2015 0.64 6.1 % 0.09 - 0.64 0.00
Q2 2015 1.63 1.3 % 0.24 - 1.63 0.00
Q3 2015 2.19 1.0 % 0.32 - 2.19 0.00

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2006 67.13 % 10.26 % (24.99 %)
Q2 2006 58.93 % 38.15 % (24.42 %)
Q3 2006 57.96 % 35.00 % (41.71 %)
Q4 2006 55.96 % 27.61 % (80.49 %)
Q1 2007 59.09 % 32.78 % (59.00 %)
Q2 2007 54.82 % 27.27 % (39.74 %)
Q3 2007 59.03 % 29.35 % (26.90 %)
Q4 2007 63.89 % 37.46 % 15.67 %
Q1 2008 60.58 % 32.58 % 10.18 %
Q2 2008 60.78 % 31.99 % 13.90 %
Q3 2008 53.58 % 26.29 % 13.01 %
Q4 2008 50.56 % 22.74 % 1.21 %
Q1 2009 51.29 % 23.93 % 3.31 %
Q2 2009 51.18 % 22.81 % (2.02 %)
Q3 2009 52.14 % 21.36 % (10.59 %)
Q4 2009 36.08 % 5.94 % (24.52 %)
Q1 2010 35.52 % 6.56 % (27.94 %)
Q2 2010 39.95 % 11.54 % (23.47 %)
Q3 2010 48.77 % 22.60 % (9.77 %)
Q4 2010 66.54 % 40.26 % 10.71 %
Q1 2011 69.24 % 40.97 % 11.00 %
Q2 2011 69.47 % 41.89 % 13.63 %
Q3 2011 68.55 % 43.30 % 17.24 %
Q4 2011 68.90 % 44.14 % 18.73 %
Q1 2012 67.45 % 43.91 % 19.34 %
Q2 2012 67.69 % 45.92 % 20.31 %
Q3 2012 68.01 % 47.20 % 20.73 %
Q4 2012 65.16 % 44.93 % 21.13 %
Q1 2013 62.96 % 43.22 % (16.46 %)
Q2 2013 63.77 % 43.46 % (14.99 %)
Q3 2013 66.00 % 44.58 % (14.72 %)
Q4 2013 69.93 % 46.24 % (15.48 %)
Q1 2014 74.39 % 48.50 % 23.07 %
Q2 2014 74.30 % 47.50 % 22.77 %
Q3 2014 71.63 % 44.94 % 21.61 %
Q4 2014 72.00 % 45.35 % 21.24 %
Q1 2015 71.19 % 43.44 % 20.84 %
Q2 2015 73.70 % 44.49 % 21.58 %
Q3 2015 75.43 % 45.40 % 22.11 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Halala) Adjusted EPS (Halala) Book Value (BV)
Q1 2006 677.40 (0.34) (0.34) 0.12
Q2 2006 677.40 (0.35) (0.35) 0.11
Q3 2006 677.40 (0.64) (0.64) 0.11
Q4 2006 677.40 (1.24) (1.24) 0.11
Q1 2007 677.40 (0.99) (0.99) 0.11
Q2 2007 677.40 (0.67) (0.67) 0.11
Q3 2007 677.40 (0.47) (0.47) 0.11
Q4 2007 677.40 0.31 0.31 0.11
Q1 2008 677.40 0.21 0.21 0.11
Q2 2008 677.40 0.30 0.30 0.11
Q3 2008 677.40 0.28 0.28 0.11
Q4 2008 677.40 0.03 0.03 0.11
Q1 2009 677.40 0.08 0.08 0.11
Q2 2009 677.40 (0.05) (0.05) 0.11
Q3 2009 677.40 (0.24) (0.24) 0.11
Q4 2009 677.40 (0.50) (0.50) 0.10
Q1 2010 677.40 (0.51) (0.51) 0.10
Q2 2010 677.40 (0.43) (0.43) 0.10
Q3 2010 677.40 (0.20) (0.20) 0.10
Q4 2010 677.40 0.24 0.24 0.10
Q1 2011 677.40 0.24 0.24 0.10
Q2 2011 677.40 0.32 0.32 0.11
Q3 2011 677.40 0.42 0.42 0.11
Q4 2011 677.40 0.49 0.49 0.11
Q1 2012 677.40 0.53 0.53 0.11
Q2 2012 677.40 0.56 0.56 0.11
Q3 2012 677.40 0.59 0.59 0.11
Q4 2012 677.40 0.63 0.63 0.12
Q1 2013 677.40 1.41 (0.52) 0.12
Q2 2013 677.40 1.44 (0.49) 0.13
Q3 2013 677.40 1.45 (0.47) 0.13
Q4 2013 677.40 1.44 (0.48) 0.13
Q1 2014 677.40 0.70 0.70 0.13
Q2 2014 677.40 0.72 0.71 0.13
Q3 2014 677.40 0.73 0.72 0.14
Q4 2014 677.40 0.71 0.71 0.14
Q1 2015 677.40 0.72 0.72 0.14
Q2 2015 677.40 0.72 0.72 0.14
Q3 2015 677.40 0.73 0.73 0.14

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2006 NEG NEG 11.15
Q2 2006 NEG NEG 26.51
Q3 2006 NEG NEG 27.47
Q4 2006 NEG NEG 10.16
Q1 2007 NEG NEG 12.09
Q2 2007 NEG NEG 12.45
Q3 2007 NEG NEG 12.46
Q4 2007 More than 100 More than 100 11.55
Q1 2008 More than 100 More than 100 6.76
Q2 2008 More than 100 More than 100 6.55
Q3 2008 More than 100 More than 100 3.75
Q4 2008 More than 100 More than 100 3.71
Q1 2009 More than 100 More than 100 5.44
Q2 2009 NEG NEG 9.01
Q3 2009 NEG NEG 7.75
Q4 2009 NEG NEG 8.63
Q1 2010 NEG NEG 8.30
Q2 2010 NEG NEG 5.94
Q3 2010 NEG NEG 5.48
Q4 2010 More than 100 More than 100 5.69
Q1 2011 More than 100 More than 100 5.24
Q2 2011 More than 100 More than 100 5.49
Q3 2011 More than 100 More than 100 5.45
Q4 2011 More than 100 More than 100 6.98
Q1 2012 More than 100 More than 100 9.14
Q2 2012 More than 100 More than 100 6.86
Q3 2012 More than 100 More than 100 7.92
Q4 2012 More than 100 More than 100 8.28
Q1 2013 More than 100 NEG 16.02
Q2 2013 More than 100 NEG 21.41
Q3 2013 More than 100 NEG 20.79
Q4 2013 More than 100 NEG 16.13
Q1 2014 More than 100 More than 100 14.90
Q2 2014 More than 100 More than 100 11.96
Q3 2014 More than 100 More than 100 12.80
Q4 2014 More than 100 More than 100 7.20
Q1 2015 More than 100 More than 100 7.96
Q2 2015 More than 100 More than 100 8.50
Q3 2015 More than 100 More than 100 6.23


Financial Ratios
Current
Market Cap (M Riyal) 1,098.65
Enterprise Value (EV) (M) 576.16
Shares Outstanding ((M)) 1,156.47
EPS (Halala) (TTM) (3.63)
Book Value (BV) ( Riyal) 0.44
Par Value ( Halala) 50.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 2.14
Return on Average Assets (%) (TTM) (7.57 )
Return on Average Equity (%) (TTM) (7.84 )
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Share Price

Tourism Enterprise Co.
0.95
0.00 0.00 %

Tourism Enterprise Co. (TECO)

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