Suez Cement Company's consolidated balance sheet from 2010-2015 is presented. Non-current assets accounted for 70.92-77.6% of total assets, with fixed assets representing the largest portion at 35-39%. Current assets made up 29.08-32.52% of total assets. Total equity financed 65.66-73.87% of investment, with retained earnings representing 30.13-31.31%. Non-controlling interest accounted for 6.4-7.12% and non-current liabilities financed 2.94-5.04% of investment.
12. Suez Cement Company (S.A.E)
Consolidated Cash Flow Statement
2015 2014 2013 2012 2011 2010
CASH FLOWS FROM OPERATING ACTIVITIES
Profits for the period before income taxes (80,040,749) 804,096,604 813,567,863 789,194,955 957,471,204 1,831,268,469
Depreciation of fixed assets 464,148,123 448,352,886 379,343,608 348,584,670 361,267,095 417,241,185
Impairment of accounts and notes receivable (1,937,744) 641,172 5,813,561 8,395,976 7,299,435 5,667,061
Decline in value of inventory (789,978) (15,630,541) (26,431,558) 5,807,944 17,823,628 5,754,983
Provisions 61,439,505 70,382,700 51,016,961 65,005,714 57,566,686 316,993,530
Provisions no longer required (51,366,774) (23,252,452) (17,980,874) (4,116,088) (6,745,370) (201,009,014)
Reversal of impairment of prepayments and other receivables (1,652,164) (840,751) (342,010) ‐ ‐ ‐
Liabilities against end of service plan 67,824,700 3,368,194 35,197,622 ‐ ‐ ‐
Investment income in an associate company (2,729,789) (2,726,092) (2,405,348) (3,936,272) (5,157,738) (8,680,727)
Finance expenses 35,430,257 23,014,971 12,744,274 5,544,482 5,444,550 19,777,407
Credit interests (67,465,406) (78,250,457) (55,202,690) (39,598,150) (122,034,685) (140,368,787)
Impairment in the value of projects under construction 3,024,269 ‐ ‐ ‐ ‐ ‐
(Gain) from sale of fixed assets (1,005,336) (4,962,163) 70,258 (3,101,743) (3,739,770) 443,152
Foreign exchange differences ‐ ‐ ‐ (48,744,733) 7,404,076 3,179,916
Operating profits before changes in working capital 424,878,914 1,224,194,071 1,195,391,667 1,123,036,755 1,276,599,111 2,250,267,175
Change in inventory (55,875,884) (334,334,588) (13,094,609) 187,607,505 (63,785,413) (94,827,005)
Change in accounts and notes receivable, and prepayments and other receivables 66,216,239 (200,754,907) 128,206,219 (100,853,851) 69,781,102 (47,949,033)
Change in accounts payable, and accrued expenses and other payables (113,764,059) 632,205,325 33,248,716 63,768,092 33,999,123 111,957,497
Cash from operations 321,455,210 1,321,309,901 1,343,751,993 1,273,558,501 1,316,593,923 2,219,448,634
Finance expenses paid (35,430,257) (23,014,971) (12,744,274) (5,544,482) (5,444,550) (19,777,407)
Income taxes paid (224,483,536) (223,514,676) (202,719,817) (213,946,424) (423,674,916) (294,342,067)
Tax differences paid (4,671,464) (5,159,507) (2,551,251) (3,829,415) (3,126,884) (4,578,394)
Payment in respect of end of service plan (3,150,000) (3,150,000) (2,925,000) ‐ ‐ ‐
Provisions used (8,633,464) (43,661,865) (32,677,035) (54,861,507) (83,209,146) (84,281,503)
NET CASH FLOWS PROVIDED FROM OPERATING ACTIVITIES 45,086,489 1,022,808,882 1,090,134,616 995,376,673 801,138,427 1,816,469,263
CASH FLOWS FROM INVESTING ACTIVITIES
Payments to acquire fixed assets (42,067,448) (48,460,847) (50,206,748) (6,153,985) (35,913,550) (17,883,957)
Proceeds from debtors‐sale of fixed assets 1,293,499 1,812,825 100,000 1,400,000 770,580 3,652,127
Proceeds from sale of fixed assets 1,346,915 10,883,723 1,163,468 11,180,644 6,430,030 1,676,923
Payments in respect of projects under construction (269,353,540) (603,146,733) (379,319,840) (239,946,755) (292,318,652) (397,878,180)
Increase of fixed assets ‐ Fixed assets of International City for Ready Mix ( K.S.A) ‐ (199,126,517) (173,130,621) ‐ ‐ ‐
Changes in amounts paid under investment in subsidiaries ‐ ‐ (1,972,447) ‐ ‐ ‐
Proceeds from investment in an associate company 1,379,435 1,856,579 3,323,915 7,401,756 13,663,394 6,353,637
Change in amounts paid under investment in subsidiaries and other companies ‐ (700,000) 41,707,494 (100,000) ‐ (11,743,972)
Credit interests received 67,465,406 78,250,457 55,202,690 39,598,150 122,034,685 140,368,787
NET CASH FLOWS (USED IN) INVESTING ACTIVITIES (239,935,733) (758,630,513) (503,132,089) (186,620,190) (185,333,513) (275,454,635)
CASH FLOWS FROM FINANCING ACTIVITIES
Change in medium term loans and other long term liabilities 5,286,663 69,713,361 25,500,301 (15,856,259) 41,068,162 (209,193,905)
Change in banks ‐ credit balance ‐ ‐ ‐ 267,178 ‐ ‐
Change in credit facilities ‐ ‐ ‐ ‐ (12,521,988) (9,726,745)
Dividends paid (555,986,502) (575,344,362) (357,421,779) (580,562,814) (763,145,861) (881,386,263)
Dividends paid to non‐controlling interest (7,632,942) (49,654,657) (86,418,774) (108,474,813) (155,934,178) (150,521,968)
Changes in non‐controlling interest 15,931,074 44,112,287 14,896,537 18,062,032 (30,461,140) (6,237,757)
Adjustments on retained earnings ‐ (173,626) (72,813) (368,378) (71,121) (18,049,456)
NET CASH FLOWS (USED IN) FINANCING ACTIVITIES (542,401,707) (511,346,997) (403,516,528) (686,933,054) (921,066,126) (1,275,116,094)
Net Increase (decrease) in cash and cash equivalent during the Year (737,250,951) (247,168,628) 183,485,999 121,823,429 (305,261,212) 265,898,534
Foreign exchange differences ‐ ‐ ‐ 48,744,733 (7,404,076) (3,179,916)
Foreign currencies translation differences related to fixed assets (25,338,824) 1,119,381 (6,395,080) (3,831,724) (5,275,857) (8,573,103)
Change in cumulative foreign currencies translation differences 11,804,707 (5,517,809) 11,830,598 7,710,669 8,065,267 17,814,230
Cash and cash equivalent ‐ beginning of the year 1,626,454,394 1,814,046,625 1,622,317,094 1,447,869,987 1,757,745,865 1,485,786,120
CASH AND CASH EQUIVALENT – END OF THE YEAR 875,669,326 1,562,479,569 1,811,238,611 1,622,317,094 1,447,869,987 1,757,745,865
For the purpose of preparing the consolidated statement of cash flows, cash and cash
equivalent comprise of the following:
Cash on hand and at banks 1,060,315,580 1,626,454,394 1,814,046,625 1,622,317,094 1,447,869,987 1,757,745,865
Less: Bank overdraft (184,646,254) (63,974,825) (2,808,014) ‐ ‐ ‐
CASH AND CASH EQUIVALENT 875,669,326 1,562,479,569 1,811,238,611 1,622,317,094 1,447,869,987 1,757,745,865
Anas Abdussalam
13. Suez Cement Company (S.A.E)
Consolidated Cash Flow Statement
2015 2014 2013 2012 2011 2010
CASH FLOWS FROM OPERATING ACTIVITIES
Profits for the period before income taxes ‐1.42% 13.07% 16.11% 17.17% 19.86% 29.77%
Depreciation of fixed assets 8.23% 7.29% 7.51% 7.58% 7.49% 6.78%
Impairment of accounts and notes receivable ‐0.03% 0.01% 0.12% 0.18% 0.15% 0.09%
Decline in value of inventory ‐0.01% ‐0.25% ‐0.52% 0.13% 0.37% 0.09%
Provisions 1.09% 1.14% 1.01% 1.41% 1.19% 5.15%
Provisions no longer required ‐0.91% ‐0.38% ‐0.36% ‐0.09% ‐0.14% ‐3.27%
Reversal of impairment of prepayments and other receivables ‐0.03% ‐0.01% ‐0.01% ‐ ‐ ‐
Liabilities against end of service plan 1.20% 0.05% 0.70% ‐ ‐ ‐
Investment income in an associate company ‐0.05% ‐0.04% ‐0.05% ‐0.09% ‐0.11% ‐0.14%
Finance expenses 0.63% 0.37% 0.25% 0.12% 0.11% 0.32%
Credit interests ‐1.20% ‐1.27% ‐1.09% ‐0.86% ‐2.53% ‐2.28%
Impairment in the value of projects under construction 0.05% ‐ ‐ ‐ ‐ ‐
(Gain) from sale of fixed assets ‐0.02% ‐0.08% 0.00% ‐0.07% ‐0.08% 0.01%
Foreign exchange differences ‐ ‐ ‐ ‐1.06% 0.15% 0.05%
Operating profits before changes in working capital 7.53% 19.90% 23.67% 24.43% 26.48% 36.58%
Change in inventory ‐0.99% ‐5.43% ‐0.26% 4.08% ‐1.32% ‐1.54%
Change in accounts and notes receivable, and prepayments and other receivables 1.17% ‐3.26% 2.54% ‐2.19% 1.45% ‐0.78%
Change in accounts payable, and accrued expenses and other payables ‐2.02% 10.28% 0.66% 1.39% 0.71% 1.82%
Cash from operations 5.70% 21.48% 26.61% 27.70% 27.31% 36.08%
Finance expenses paid ‐0.63% ‐0.37% ‐0.25% ‐0.12% ‐0.11% ‐0.32%
Income taxes paid ‐3.98% ‐3.63% ‐4.01% ‐4.65% ‐8.79% ‐4.78%
Tax differences paid ‐0.08% ‐0.08% ‐0.05% ‐0.08% ‐0.06% ‐0.07%
Payment in respect of end of service plan ‐0.06% ‐0.05% ‐0.06% ‐ ‐ ‐
Provisions used ‐0.15% ‐0.71% ‐0.65% ‐1.19% ‐1.73% ‐1.37%
NET CASH FLOWS PROVIDED FROM OPERATING ACTIVITIES 0.80% 16.63% 21.59% 21.65% 16.62% 29.53%
CASH FLOWS FROM INVESTING ACTIVITIES
Payments to acquire fixed assets ‐0.75% ‐0.79% ‐0.99% ‐0.13% ‐0.75% ‐0.29%
Proceeds from debtors‐sale of fixed assets 0.02% 0.03% 0.00% 0.03% 0.02% 0.06%
Proceeds from sale of fixed assets 0.02% 0.18% 0.02% 0.24% 0.13% 0.03%
Payments in respect of projects under construction ‐4.77% ‐9.80% ‐7.51% ‐5.22% ‐6.06% ‐6.47%
Increase of fixed assets ‐ Fixed assets of International City for Ready Mix ( K.S.A) ‐ ‐3.24% ‐3.43% ‐ ‐ ‐
Changes in amounts paid under investment in subsidiaries ‐ ‐ ‐0.04% ‐ ‐ ‐
Proceeds from investment in an associate company 0.02% 0.03% 0.07% 0.16% 0.28% 0.10%
Change in amounts paid under investment in subsidiaries and other companies ‐ ‐0.01% 0.83% 0.00% ‐ ‐0.19%
Credit interests received 1.20% 1.27% 1.09% 0.86% 2.53% 2.28%
NET CASH FLOWS (USED IN) INVESTING ACTIVITIES ‐4.25% ‐12.33% ‐9.96% ‐4.06% ‐3.84% ‐4.48%
CASH FLOWS FROM FINANCING ACTIVITIES
Change in medium term loans and other long term liabilities 0.09% 1.13% 0.51% ‐0.34% 0.85% ‐3.40%
Change in banks ‐ credit balance ‐ ‐ ‐ 0.01% ‐ ‐
Change in credit facilities ‐ ‐ ‐ ‐ ‐0.26% ‐0.16%
Dividends paid ‐9.85% ‐9.35% ‐7.08% ‐12.63% ‐15.83% ‐14.33%
Dividends paid to non‐controlling interest ‐0.14% ‐0.81% ‐1.71% ‐2.36% ‐3.23% ‐2.45%
Changes in non‐controlling interest 0.28% 0.72% 0.30% 0.39% ‐0.63% ‐0.10%
Adjustments on retained earnings ‐ 0.00% 0.00% ‐0.01% 0.00% ‐0.29%
NET CASH FLOWS (USED IN) FINANCING ACTIVITIES ‐9.61% ‐8.31% ‐7.99% ‐14.94% ‐19.11% ‐20.73%
Net Increase (decrease) in cash and cash equivalent during the Year ‐13.07% ‐4.02% 3.63% 2.65% ‐6.33% 4.32%
Foreign exchange differences ‐ ‐ ‐ 1.06% ‐0.15% ‐0.05%
Foreign currencies translation differences related to fixed assets ‐0.45% 0.02% ‐0.13% ‐0.08% ‐0.11% ‐0.14%
Change in cumulative foreign currencies translation differences 0.21% ‐0.09% 0.23% 0.17% 0.17% 0.29%
Cash and cash equivalent ‐ beginning of the year 28.83% 29.49% 32.13% 31.50% 36.46% 24.15%
CASH AND CASH EQUIVALENT – END OF THE YEAR 15.52% 25.40% 35.87% 35.29% 30.04% 28.57%
For the purpose of preparing the consolidated statement of cash flows, cash and cash
equivalent comprise of the following:
Cash on hand and at banks 18.79% 26.44% 35.93% 35.29% 30.04% 28.57%
Less: Bank overdraft ‐3.27% ‐1.04% ‐0.06% ‐ ‐ ‐
CASH AND CASH EQUIVALENT 15.52% 25.40% 35.87% 35.29% 30.04% 28.57%
Anas Abdussalam
‐30.00%
‐20.00%
‐10.00%
0.00%
10.00%
20.00%
30.00%
40.00%
2015 2014 2013 2012 2011 2010
VERTICAL COMMON‐SIZE ANALYSIS
NET CASH FLOWS PROVIDED FROM OPERATING ACTIVITIES
NET CASH FLOWS (USED IN) INVESTING ACTIVITIES
NET CASH FLOWS (USED IN) FINANCING ACTIVITIES
Net Increase (decrease) in cash and cash equivalent during the Year
Cash and cash equivalent ‐ beginning of the year
CASH AND CASH EQUIVALENT – END OF THE YEAR
14. Suez Cement Company (S.A.E)
Consolidated Cash Flow Statement
2015 2014 2013 2012 2011 2010
CASH FLOWS FROM OPERATING ACTIVITIES
Profits for the period before income taxes ‐4.37% 43.91% 44.43% 43.10% 52.28% 100.00%
Depreciation of fixed assets 111.24% 107.46% 90.92% 83.55% 86.58% 100.00%
Impairment of accounts and notes receivable ‐34.19% 11.31% 102.59% 148.15% 128.80% 100.00%
Decline in value of inventory ‐13.73% ‐271.60% ‐459.28% 100.92% 309.71% 100.00%
Provisions 19.38% 22.20% 16.09% 20.51% 18.16% 100.00%
Provisions no longer required ‐25.55% ‐11.57% ‐8.95% ‐2.05% ‐3.36% ‐100.00%
Reversal of impairment of prepayments and other receivables ‐ ‐ ‐ ‐ ‐ ‐
Liabilities against end of service plan ‐ ‐ ‐ ‐ ‐ ‐
Investment income in an associate company ‐31.45% ‐31.40% ‐27.71% ‐45.34% ‐59.42% ‐100.00%
Finance expenses 179.15% 116.37% 64.44% 28.03% 27.53% 100.00%
Credit interests ‐48.06% ‐55.75% ‐39.33% ‐28.21% ‐86.94% ‐100.00%
Impairment in the value of projects under construction ‐ ‐ ‐ ‐ ‐ ‐
(Gain) from sale of fixed assets ‐226.86% ‐1119.74% 15.85% ‐699.93% ‐843.90% 100.00%
Foreign exchange differences ‐ ‐ ‐ ‐1532.89% 232.84% 100.00%
Operating profits before changes in working capital 18.88% 54.40% 53.12% 49.91% 56.73% 100.00%
Change in inventory ‐58.92% ‐352.57% ‐13.81% 197.84% ‐67.27% ‐100.00%
Change in accounts and notes receivable, and prepayments and other receivables 138.10% ‐418.68% 267.38% ‐210.34% 145.53% ‐100.00%
Change in accounts payable, and accrued expenses and other payables ‐101.61% 564.68% 29.70% 56.96% 30.37% 100.00%
Cash from operations 14.48% 59.53% 60.54% 57.38% 59.32% 100.00%
Finance expenses paid ‐179.15% ‐116.37% ‐64.44% ‐28.03% ‐27.53% ‐100.00%
Income taxes paid ‐76.27% ‐75.94% ‐68.87% ‐72.69% ‐143.94% ‐100.00%
Tax differences paid ‐102.03% ‐112.69% ‐55.72% ‐83.64% ‐68.30% ‐100.00%
Payment in respect of end of service plan ‐ ‐ ‐ ‐ ‐ ‐
Provisions used ‐10.24% ‐51.80% ‐38.77% ‐65.09% ‐98.73% ‐100.00%
NET CASH FLOWS PROVIDED FROM OPERATING ACTIVITIES 2.48% 56.31% 60.01% 54.80% 44.10% 100.00%
CASH FLOWS FROM INVESTING ACTIVITIES
Payments to acquire fixed assets ‐235.22% ‐270.97% ‐280.74% ‐34.41% ‐200.81% ‐100.00%
Proceeds from debtors‐sale of fixed assets 35.42% 49.64% 2.74% 38.33% 21.10% 100.00%
Proceeds from sale of fixed assets 80.32% 649.03% 69.38% 666.74% 383.44% 100.00%
Payments in respect of projects under construction ‐67.70% ‐151.59% ‐95.34% ‐60.31% ‐73.47% ‐100.00%
Increase of fixed assets ‐ Fixed assets of International City for Ready Mix ( K.S.A) ‐ ‐ ‐ ‐ ‐ ‐
Changes in amounts paid under investment in subsidiaries ‐ ‐ ‐ ‐ ‐ ‐
Proceeds from investment in an associate company 21.71% 29.22% 52.32% 116.50% 215.05% 100.00%
Change in amounts paid under investment in subsidiaries and other companies ‐ ‐5.96% 355.14% ‐0.85% ‐ ‐100.00%
Credit interests received 48.06% 55.75% 39.33% 28.21% 86.94% 100.00%
NET CASH FLOWS (USED IN) INVESTING ACTIVITIES ‐87.11% ‐275.41% ‐182.66% ‐67.75% ‐67.28% ‐100.00%
CASH FLOWS FROM FINANCING ACTIVITIES
Change in medium term loans and other long term liabilities 2.53% 33.32% 12.19% ‐7.58% 19.63% ‐100.00%
Change in banks ‐ credit balance ‐ ‐ ‐ ‐ ‐ ‐
Change in credit facilities ‐ ‐ ‐ ‐ ‐128.74% ‐100.00%
Dividends paid ‐63.08% ‐65.28% ‐40.55% ‐65.87% ‐86.58% ‐100.00%
Dividends paid to non‐controlling interest ‐5.07% ‐32.99% ‐57.41% ‐72.07% ‐103.60% ‐100.00%
Changes in non‐controlling interest 255.40% 707.18% 238.81% 289.56% ‐488.33% ‐100.00%
Adjustments on retained earnings ‐ ‐0.96% ‐0.40% ‐2.04% ‐0.39% ‐100.00%
NET CASH FLOWS (USED IN) FINANCING ACTIVITIES ‐42.54% ‐40.10% ‐31.65% ‐53.87% ‐72.23% ‐100.00%
Net Increase (decrease) in cash and cash equivalent during the Year ‐277.27% ‐92.96% 69.01% 45.82% ‐114.80% 100.00%
Foreign exchange differences ‐ ‐ ‐ 1532.89% ‐232.84% ‐100.00%
Foreign currencies translation differences related to fixed assets ‐295.56% 13.06% ‐74.59% ‐44.69% ‐61.54% ‐100.00%
Change in cumulative foreign currencies translation differences 66.27% ‐30.97% 66.41% 43.28% 45.27% 100.00%
Cash and cash equivalent ‐ beginning of the year 109.47% 122.09% 109.19% 97.45% 118.30% 100.00%
CASH AND CASH EQUIVALENT – END OF THE YEAR 49.82% 88.89% 103.04% 92.30% 82.37% 100.00%
For the purpose of preparing the consolidated statement of cash flows, cash and cash
equivalent comprise of the following:
Cash on hand and at banks 60.32% 92.53% 103.20% 92.30% 82.37% 100.00%
Less: Bank overdraft ‐ ‐ ‐ ‐ ‐ ‐
CASH AND CASH EQUIVALENT 49.82% 88.89% 103.04% 92.30% 82.37% 100.00%
Anas Abdussalam
‐300.00%
‐250.00%
‐200.00%
‐150.00%
‐100.00%
‐50.00%
0.00%
50.00%
100.00%
150.00%
2015 2014 2013 2012 2011 2010
HORIZONTAL COMMON‐SIZE ANALYSIS
NET CASH FLOWS PROVIDED FROM OPERATING ACTIVITIES
NET CASH FLOWS (USED IN) INVESTING ACTIVITIES
NET CASH FLOWS (USED IN) FINANCING ACTIVITIES
Net Increase (decrease) in cash and cash equivalent during the Year
109.47% 122.09% 109.19% 97.45% 118.30% 100.00%
CASH AND CASH EQUIVALENT – END OF THE YEAR
15. Suez Cement Company (S.A.E)
Financial Ratio Analysis
2015 2014 2013 2012 2011 2010
Liquidity Ratios:
Current Ratio 1.27 1.45 1.79 1.80 1.84 1.83
Quick Ratio (Acid Test Ratio) 0.57 0.77 1.16 1.13 1.06 1.12
Cash Ratio 0.47 0.68 1.05 0.97 0.91 0.98
Cash Flow Ratio 0.02 0.43 0.62 0.59 0.50 1.01
Net Working Capital 618,979,852 1,085,621,030 1,379,637,679 1,345,661,940 1,348,065,907 1,493,455,803
Net Working Capital Ratio 0.06 0.10 0.14 0.14 0.14 0.15
Leverage Ratios:
Financial Leverage Ratio 1.39 1.36 1.26 1.25 1.24 1.25
Degree of Financial Leverage (DFL) 0.56 1.03 1.02 1.01 1.01 1.01
Degree of Operating Leverage (DOL) ‐ 12.72 0.00 0.40 3.77 2.22
Degree of Total Leverage ‐ 13.09 0.00 0.41 3.79 2.24
Capital Structure and Solvency Ratios:
Debt to Equity Ratio 0.39 0.36 0.26 0.25 0.24 0.25
Long‐Term Debt to Equity Ratio 0.07 0.06 0.04 0.03 0.04 0.02
Debt to Total Assets Ratio 0.28 0.27 0.20 0.20 0.20 0.20
Earnings Coverage Ratios:
Interest Coverage (Times Interest Earned) (1.26) 35.94 64.84 143.34 176.86 93.59
Fixed Charge Coverage (Earnings to Fixed Charges) (1.26) 35.94 64.84 143.34 176.86 93.59
Cash Flow to Fixed Charges 8.83 55.51 102.88 219.80 226.54 107.96
Activity Ratios:
Accounts Receivable Turnover Ratio 17.74 20.45 15.71 13.91 15.70 22.12
Days Sales in Receivables (Average Collection Period) 20.58 17.84 23.23 26.25 23.25 16.50
Inventory Turnover Ratio 4.27 4.97 4.96 4.16 3.83 4.44
Days Sales in Inventory 85.47 73.41 73.64 87.82 95.29 82.13
Accounts Payable Turnover Ratio 6.33 7.36 7.24 7.22 8.14 9.51
Days Purchases in Accounts Payable 57.63 49.56 50.45 50.58 44.85 38.39
Operating Cycle 106.05 91.26 96.87 114.07 118.54 98.63
Cash Cycle 48.41 41.69 46.43 63.49 73.69 60.24
Total Asset Turnover Ratio 0.54 0.59 0.51 0.48 0.49 0.63
Fixed Asset Turnover Ratio 1.71 1.97 1.70 1.51 1.58 4.88
Profitability Ratios:
Gross Profit Margin Percentage 7.49% 17.65% 19.10% 18.53% 22.54% 34.46%
Operating Profit Margin Percentage ‐1.50% 12.08% 14.26% 16.44% 18.15% 28.33%
Net Profit Margin Percentage (Profit Margin on Sales) ‐1.84% 8.55% 11.73% 12.87% 14.02% 23.70%
Cash Flow Margin Percentage 0.80% 16.63% 21.59% 21.65% 16.62% 29.53%
EBITDA Margin Percentage 7.44% 20.73% 23.88% 24.87% 27.47% 36.87%
Return on Invested Capital:
Return on Assets (ROA) ‐1.00% 5.08% 6.03% 6.12% 6.86% 14.83%
Return on Equity (ROE) ‐1.37% 6.66% 7.55% 7.62% 8.55% 18.61%
Return on Common Equity (ROCE) ‐1.37% 6.66% 7.55% 7.62% 8.55% 18.61%
Cash Return on Assets 0.43% 9.88% 11.09% 10.29% 8.13% 18.48%
Market Ratios:
Book Value Per Share 36.19 39.51 39.99 38.95 39.24 40.28
Market‐to‐Book Ratio 1.02 0.91 0.59 0.58 0.96 1.01
Basic Earnings Per Share (BEPS) (0.33) 2.75 2.96 2.88 3.13 6.80
Diluted Earnings Per Share (DEPS) (0.33) 2.75 2.96 2.88 3.13 6.80
Price/Earnings Ratio (111.33) 13.12 7.97 7.88 11.99 6.01
Price/EBITDA Ratio 15.96 5.14 3.56 3.61 5.15 3.28
Earnings Yield (0.01) 0.08 0.13 0.13 0.08 0.17
Dividend Yield 0.00 0.07 0.11 0.12 0.04 0.12
Dividend Payout Ratio 0.00 0.96 0.90 0.92 0.53 0.72
Shareholder Return
Other:
Sustainable Growth Rate ‐1.3739% 0.2377% 0.7910% 0.6172% 4.0381% 5.1988%
Anas Abdussalam
16. Suez Cement Company (S.A.E)
Financial Highlights
Anas Abdussalam
2015 2014 2013 2012 2011 2010
Current Ratio 1.27 1.45 1.79 1.80 1.84 1.83
Quick Ratio (Acid Test Ratio) 0.57 0.77 1.16 1.13 1.06 1.12
Cash Ratio 0.47 0.68 1.05 0.97 0.91 0.98
Cash Flow Ratio 0.02 0.43 0.62 0.59 0.50 1.01
Net Working Capital Ratio 0.06 0.10 0.14 0.14 0.14 0.15
Net Working Capital 618,979,852 1,085,621,030 1,379,637,679 1,345,661,940 1,348,065,907 1,493,455,803
0
200,000,000
400,000,000
600,000,000
800,000,000
1,000,000,000
1,200,000,000
1,400,000,000
1,600,000,000
0.00
0.20
0.40
0.60
0.80
1.00
1.20
1.40
1.60
1.80
2.00
Liquidity Ratios
1 2 3 4 5 6
Financial Leverage Ratio 1.39 1.36 1.26 1.25 1.24 1.25
Degree of Financial Leverage (DFL) 0.56 1.03 1.02 1.01 1.01 1.01
Degree of Operating Leverage (DOL) 0.00 12.72 0.00 0.40 3.77 2.22
Degree of Total Leverage 0.00 13.09 0.00 0.41 3.79 2.24
Debt to Equity Ratio 0.39 0.36 0.26 0.25 0.24 0.25
Long‐Term Debt to Equity Ratio 0.07 0.06 0.04 0.03 0.04 0.02
Debt to Total Assets Ratio 0.28 0.27 0.20 0.20 0.20 0.20
Interest Coverage (Times Interest Earned) (1.26) 35.94 64.84 143.34 176.86 93.59
Cash Flow to Fixed Charges 8.83 55.51 102.88 219.80 226.54 107.96
(50.00)
0.00
50.00
100.00
150.00
200.00
250.00
0.00
2.00
4.00
6.00
8.00
10.00
12.00
14.00
Leverage Ratios