AlphaMena Corporate Services - SAUDI CABLE CO (SCACO) Injection of fresh money is more than needed!

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AlphaMena Corporate Services

EUR 236.14 For Business Accounts Only

Injection of fresh money is more than needed!

Saudi Cable witnessed a sharp Q1 2016 revenue drop by 22.41% yoy. The gross margin moved from SAR29.33m in Q1 2015 to SAR-4.82m in Q1 2016. Similarly, the net result has significantly worsened, standing at SAR-49.72m compared to SAR-7.94m in Q1 2015.

05/05/2016 2 EN

Underlying

SAUDI CABLE CO

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Saudi Arabia

Provider

AlphaMena Corporate Services

AlphaMena is the MENA stocks leader in independent equity research, covering 142. MENA securities spanning across 19 sectors and 8 countries relaying on a team of 11 analysts. The breadth of coverage allows AlphaMena to formulate a coherent view on markets, sectors and to highlight the best investments in Mena zone using a robust homogeneous and transparent methodology, enabling pure and pertinent comparisons based on financial and extra-financial criteria.

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AlphaMena Corporate Services

Saudi Cable is winning back the lost ground

Following satisfying 9M achievements, after three tough years (sales growth of -16%, -8.93% and -29.9% in 2012, 2013 and 2014, respectively). Saudi Cable continues its upward trend as it recorded a sales increase of 11.14% at Q4 2015, contributing to an improvement of 11.75% of the annual revenues, yoy, at SAR1918.059M. For the first time after three years of losses, the net income is positive at SAR1.687M.

EUR 236.14

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AlphaMena Corporate Services

A little breath for the cables

Saudi Cable has achieved a remarkable Q3 2015. The company begun the year with increasing revenues for the first time after three years of under-performing business. This positive trend expanded over the next two quarters as the company's sales climbed by 6.5% and 24.5% in Q2 2015 and Q3 2015, respectively, leading the 9M revenues to grow by 13.09% yoy. Though still negative, the net result has also witnessed an important improvement, moving from SAR-141.740M in 9M 2014 to SAR-9.914M in 9M 2015.

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Resilient despite the turmoil

Resilient despite the turmoil SIGNIFICANT NEWS Jordan Ahli Bank’s 9M 2020 net profit declined by 44.80%, yoy, to JOD8.885m due to the rise of the cost of risk which more than tripled reaching JOD12.430m. Loans and deposits rose by 1.81% and 0.25%, ytd, respectively, reflecting the harsh operating context. However, we expect the bank to maintain a strong equity generation capacity and we expect JAB’s Tier 1 to stand at 14.75% by the end of 2020 (vs. 14.54% in 2019). FACT Jordan Ahli Bank announced a high double-digit decline rate in its 9M 2020 net profit, reaching JOD8.885bn. The rise in...

November 27, 2020 November 27, 2020 3 EN

Belhassen Achour

Belhassen Achour

Tough year but better long term perspectives (Jordan Ahli Bank)

Tough year but better long term perspectives EPS CHANGE CHANGE IN EPS2020 : JOD 0.06 vs 0.05 +19.7% 2021 : JOD 0.09 vs 0.11 -15.6% We have revised upward our 2020 EPS (JOD0.06 vs. JOD0.05 previously forecasted) as we expect JAB to generate significant revenues, offsetting thus, the cost of risk’s rise (revenues would reach JOD108m vs. JOD97.2m previously expected). CHANGE IN NAVJOD 0.87 vs 0.97 -10.0% We have revised upward our NAV (JOD0.87 vs. JOD0.97 previously expected) due to JAB’s minor issues to enhance its capital generation capacity. CHANGE IN INTRINSIC VALUE JOD 0.86 vs 1.03 -16.6...

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Belhassen Achour

Belhassen Achour

A boost is needed

A boost is needed INITIATION COV. Founded in 1955, Jordan Ahli Bank (JAB), accumulates a banking experience that exceeds the 60 years. JAB, has been listed on Amman Stock Exchange since April 2007 and is, today, one of the 6 largest Jordanian banks in terms of assets. In 2019, Jordan Ahli Bank operated through four business segments. The most important segments are Retail and Corporate banking divisions. Meanwhile, the bank has Treasury and Financial Brokerage segments. In addition to its widespread network on the local market, the Jordanian bank also operates through four subsidiaries. Off...

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Injection of fresh money is more than needed!

Saudi Cable is winning back the lost ground

A little breath for the cables

Resilient despite the turmoil

Tough year but better long term perspectives (Jordan Ahli Bank)

A boost is needed

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