86
87
Annual Report 2018
Capital Structure & Financing
Key Indicators - Efficiency 2014-2018 Despite the decline in global
Bahri’s healthy financial position is the result of consistently strong performance and the high level of solvency the Company has managed to achieve and maintain. It is also reflective of positive cash flows achieved from the Company’s operations which are expected to be maintained in the future. The Company’s future growth is
dependent on its expansion strategies and purchasing its fixed assets through its own capital sources and long-term loans. Fixed assets depreciate over a long period of time, typically 25 years. Bahri was able to diversify its funding sources, including short-term borrowings and long-term loans, by working with government entities, local,
and international commercial banks. These loans were secured in either Saudi riyals or US dollars to acquire the required funding at competitive prices and reduce the risks associated with the increase of interest rates and other funding costs.
difficulties and challenges faced by the maritime transportation sector over the year. Bahri’s strategy has contributed to business diversification and fleet expansion in addition to long-term partnerships with strategic customers
and enhanced operation efficiency through positive financial results. Furthermore, achieving a healthy financial position and high level of solvency will enable the Company to continue pursuing its investment and strategic plans.
transportation rates, Bahri was able to achieve positive financial results and continue delivering good net income and financial indicators in 2018 compared to other transport and shipping companies, and despite the
Murabaha financing & long-term loans during 2018 (In thousand)
125.00
10
914,825 1,075,289 10,171,617
10,332,082
100.00
Start of Year Loan Balance
Loan Average Duration (Years)
Additions Throughout the Year
Paid During the Year
End of Year Loan Balance
75.00
50.00
Consolidated Cashflow 2014 - 2018
25.00
0.00
4,000,000 3,000,000 2,000,000 1,000,000 0 1,000,000 2,000,000 3,000,000 4,000,000
25.00
2014
2015
2016
2017
2018
Profit Margin Before Depreciation and Financing and Zakat Costs Operating Profit Margin Return on Sales %
Return on Total Equity Return on Equity
Revenue Growth Rate
Return on Assets
Efficiency 2014 – 2018 2018 2017
2016
2015
2014
7.97
13.34 35.71 20.00
25.77 42.18 28.19 18.08 17.35
24.82 39.21 28.41 19.58 18.74
14.72 35.31 18.69
Return on Sales %
Profit Margin Before Depreciation and Financing and Zakat Costs %
30.91 15.82
2014
2015
2016
2017
2018
Operating Profit Margin %
5.21 4.97 2.30 1.39
8.49 8.13 3.81
6.83 6.52 3.12
Return on Equity %
Net cash from investing activities
Net cash flows from operating activities
Net cash from financing activities
Return on Total Equity %
8.40
9.52
Return on Assets %
End of trading period cash and cash equivalents
Net difference in cash and cash equivalents
(10.94)
(9.05)
105.82
27.39
Revenue Growth Rate %
Cash Flows 2014 - 2018
2018
2017
2016
2015
2014
(SAR “000”)
1,119,244 1,140,085 2,187,733 2,923,047
940,856
Net cash flows from operating activities Net cash from investing activities Net cash from financing activities Net difference in cash and cash equivalents End of trading period cash and cash equivalents
(1,081,616)
(1,640,781)
(2,008,035)
(1,629,098)
(3,474,732) 2,577,618
(635,263) (597,635) 592,806
(388,856) (889,552)
660,433 840,131
(464,426) 829,523
43,742 313,308
1,190,441 2,079,993 1,142,831
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