reports
- Fatma HADDAD
Carrying on the downward trend
During Q2 2017, Zamil Industrial recorded revenues amounting to SAR1.125bn, a 20.3% yoy decrease. The cost of sales dropped by 21.3% yoy to stand at SAR858.014m. Finance charges slightly declined by 3.2% to SAR21.631m. The gross margin gained 100 basis points to 23.8%. The net result moved from SAR50.778m in Q2 2016 to SAR36.453m in Q2 2017. Since the beginning of the year, the company’s sales totaled SAR2.123bn, falling by 19.7% compared to the same period last year.
- Fatma HADDAD
Pursuing the downturn
During Q1 2017, Zamil Industrial recorded declining revenues by 19.1% yoy, standing at SAR997.939m. The cost of sales decreased significantly by 22.2% yoy to SAR741.307m, giving place to an improving gross margin by 300 basis points to 25.7%. The net result fell by 18.7% yoy to set at SAR41.777m.
- Fatma HADDAD
Resistance came to an end
During the last quarter of the year, Zamil’s revenues declined by 17.6% to SAR1.199bn, bringing revenues recorded since the beginning of the year to SAR4.950bn, i.e. a 9.8% yoy deterioration. The gross margin improved by 86 bps due to lower cost of sales on the back of a slowing activity. However, the operating profit decreased by 18% to stand at SAR336.4m. The net result shrunk by 23.6%, amounting to SAR201.022m.
Ford Equity International Rating and Forecast Report
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- Fatma HADDAD
Giving up?
In Q3 2016, Zamil’s revenues amounted to SAR1.106bn, a significant 17.30% yoy decrease that brought revenues recorded since the beginning of the year to SAR3.751bn (-7.05% yoy). The cost of sales, in accordance with the company’s cost-cutting strategy, declined by 19.5% to SAR829.467m (vs. SAR1.030bn in Q3 2015), leading the gross margin to improve by 204 bps to 25.05%. The net income, however, worsened by 30.2% to SAR40.098m.
The slowdown continues
The revenues recorded during Q2 2016 amount to SAR1.411bn, a slight decrease of 1.9% yoy that brought total revenues registered during H1 2016 to SAR2.644bn. The cost of sales resumed by 2.82% yoy to stand at SAR1.089bn. The operating profit improved by 2% yoy, and moved from SAR77.464m in Q1 2016 to SAR99.204m in Q2 2016. The gross profit kept the same level as the first quarter (22.77%). However, the net income worsened by 31.7% yoy, to hit the bottom of SAR50.778m.
AC plays dirty tricks on Zamil
In Q1 2016, Zamil’s revenues resumed by 2.01% y.o.y to SAR1.234bn. The company’s gross margin shrunk by 150 bps to 22.77%. The operating profit fell by 20.54%, moving from SAR97.493m in Q1 2015 to SAR77.464m in Q1 2016. The bottom-line has witnessed a significant slump of 30.28% to reach SAR51.410m.
Moving slowly
Zamil Industrial's 2015 revenues registered an increase of 0.66% (vs. 0.43% expected by AlphaMena) to SAR5491,444M. This rhythm of growth is the lowest in the last five years. The net income amounted to SAR263M, climbing by 1.02%, yoy. The operating margin remained almost at the same level as 2014 (7.47% vs. 7.44% in 2014).
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