Farm Superstores reports SAR 22.5 mln profit in Q1

10/05/2017 Argaam Exclusive

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Share Price

21.48
(0.22) (1.01 %)

Saudi Marketing Co. (FARM SUPERSTORES)

 

Saudi Marketing Co. (Farm Superstores) reported a net profit of SAR 22.5 million for Q1 2017, an 11.5 percent year-on-year (YoY) drop, attributed to promotions and discounts, lower sales, and higher SG&A expenses. 

On a sequential basis, Q1 net profit doubled, driven by a SAR 2.4 million increase in revenue, in addition to improved gross profit on new store openings.



Current Quarter Comparison (M)

Compared With The
Item Q1 2016 Q1 2017 Change‬
Revenues 482.23 491.47 1.9 %
Gross Income 112.15 127.34 13.5 %
Operating Income 28.73 25.79 (10.2 %)
Net Income 25.45 22.53 (11.5 %)
Average Shares 45.00 45.00 -
EPS (Riyals) 0.57 0.50 (11.5 %)


Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Riyal)
Q1 2008 - - - - - - -
Q2 2008 - - - - - - -
Q3 2008 - - - - - - -
Q4 2008 - - - - - - -
Q1 2009 - - - - - - -
Q2 2009 - - - - - - -
Q3 2009 - - - - - - -
Q4 2009 - - - - - - -
Q1 2010 - - - - - - -
Q2 2010 - - - - - - -
Q3 2010 - - - - - - -
Q4 2010 - - - - - - -
Q1 2011 - - - - - - -
Q2 2011 303.99 - 62.21 - 17.35 - 0.39
Q3 2011 330.91 - 68.92 - 14.92 - 0.33
Q4 2011 350.17 - 50.81 - 19.48 - 0.43
Q1 2012 342.36 - 64.04 - 18.86 - 0.42
Q2 2012 350.01 15.1 % 78.29 25.8 % 18.76 8.1 % 0.42
Q3 2012 384.15 16.1 % 84.23 22.2 % 23.52 57.7 % 0.52
Q4 2012 419.14 19.7 % 72.64 43.0 % 17.63 (9.5 %) 0.39
Q1 2013 391.22 14.3 % 87.02 35.9 % 24.68 30.9 % 0.55
Q2 2013 397.65 13.6 % 89.20 13.9 % 21.38 14.0 % 0.48
Q3 2013 413.71 7.7 % 89.95 6.8 % 22.21 (5.6 %) 0.49
Q4 2013 423.76 1.1 % 87.89 21.0 % 26.87 52.4 % 0.60
Q1 2014 405.04 3.5 % 93.24 7.2 % 27.54 11.6 % 0.61
Q2 2014 475.21 19.5 % 103.31 15.8 % 29.13 36.2 % 0.65
Q3 2014 409.88 (0.9 %) 103.87 15.5 % 24.70 11.2 % 0.55
Q4 2014 450.89 6.4 % 102.85 17.0 % 23.11 (14.0 %) 0.51
Q1 2015 455.49 12.5 % 104.58 12.2 % 29.08 5.6 % 0.65
Q2 2015 513.81 8.1 % 123.00 19.1 % 32.83 12.7 % 0.73
Q3 2015 448.70 9.5 % 120.48 16.0 % 28.95 17.2 % 0.64
Q4 2015 474.32 5.2 % 108.13 5.1 % 16.28 (29.5 %) 0.36
Q1 2016 482.23 5.9 % 112.15 7.2 % 25.45 (12.5 %) 0.57
Q2 2016 524.82 2.1 % 130.10 5.8 % 27.17 (17.2 %) 0.60
Q3 2016 433.06 (3.5 %) 120.16 (0.3 %) 23.19 (19.9 %) 0.52
Q4 2016 490.53 3.4 % 102.79 (4.9 %) 16.84 3.4 % 0.37
Q1 2017 491.47 1.9 % 127.34 13.5 % 22.53 (11.5 %) 0.50

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2008 - - -
Q2 2008 - - -
Q3 2008 - - -
Q4 2008 - - -
Q1 2009 - - -
Q2 2009 - - -
Q3 2009 - - -
Q4 2009 - - -
Q1 2010 - - -
Q2 2010 - - -
Q3 2010 - - -
Q4 2010 - - -
Q1 2011 - - -
Q2 2011 - - -
Q3 2011 - - -
Q4 2011 - - -
Q1 2012 18.53 % 6.38 % 5.32 %
Q2 2012 19.08 % 6.99 % 5.24 %
Q3 2012 19.44 % 7.31 % 5.65 %
Q4 2012 20.00 % 6.66 % 5.27 %
Q1 2013 20.86 % 6.92 % 5.48 %
Q2 2013 20.92 % 6.91 % 5.48 %
Q3 2013 20.89 % 6.70 % 5.30 %
Q4 2013 21.77 % 7.62 % 5.85 %
Q1 2014 21.97 % 7.70 % 5.98 %
Q2 2014 21.80 % 7.85 % 6.16 %
Q3 2014 22.66 % 8.26 % 6.32 %
Q4 2014 23.16 % 8.27 % 6.00 %
Q1 2015 23.14 % 8.40 % 5.92 %
Q2 2015 23.73 % 8.60 % 6.00 %
Q3 2015 24.13 % 9.07 % 6.29 %
Q4 2015 24.11 % 8.39 % 5.81 %
Q1 2016 24.17 % 8.14 % 5.54 %
Q2 2016 24.40 % 7.86 % 5.21 %
Q3 2016 24.58 % 7.47 % 4.76 %
Q4 2016 24.10 % 7.68 % 4.80 %
Q1 2017 24.76 % 7.56 % 4.63 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2008 - - - -
Q2 2008 - - - -
Q3 2008 - - - -
Q4 2008 - - - -
Q1 2009 - - - -
Q2 2009 - - - -
Q3 2009 - - - -
Q4 2009 - - - -
Q1 2010 - - - -
Q2 2010 - - - -
Q3 2010 - - - -
Q4 2010 - - - -
Q1 2011 - - - -
Q2 2011 45.00 - - 7.10
Q3 2011 45.00 - - 7.60
Q4 2011 45.00 - - 7.73
Q1 2012 45.00 1.57 1.57 8.15
Q2 2012 45.00 1.60 1.60 8.56
Q3 2012 45.00 1.79 1.79 9.09
Q4 2012 45.00 1.75 1.75 9.20
Q1 2013 45.00 1.88 1.88 8.43
Q2 2013 45.00 1.94 1.94 8.90
Q3 2013 45.00 1.91 1.91 9.40
Q4 2013 45.00 2.11 2.11 8.72
Q1 2014 45.00 2.18 2.18 9.33
Q2 2014 45.00 2.35 2.35 9.97
Q3 2014 45.00 2.41 2.41 10.52
Q4 2014 45.00 2.32 2.32 11.04
Q1 2015 45.00 2.36 2.36 11.68
Q2 2015 45.00 2.44 2.44 11.25
Q3 2015 45.00 2.53 2.61 11.89
Q4 2015 45.00 2.38 2.44 12.22
Q1 2016 45.00 2.30 2.36 12.63
Q2 2016 45.00 2.17 2.24 13.24
Q3 2016 45.00 2.05 2.03 13.75
Q4 2016 45.00 2.06 2.06 14.09
Q1 2017 45.00 1.99 1.99 14.59

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2008 - - -
Q2 2008 - - -
Q3 2008 - - -
Q4 2008 - - -
Q1 2009 - - -
Q2 2009 - - -
Q3 2009 - - -
Q4 2009 - - -
Q1 2010 - - -
Q2 2010 - - -
Q3 2010 - - -
Q4 2010 - - -
Q1 2011 - - -
Q2 2011 - - -
Q3 2011 - - -
Q4 2011 - - -
Q1 2012 - - -
Q2 2012 - - -
Q3 2012 - - -
Q4 2012 - - -
Q1 2013 - - -
Q2 2013 - - -
Q3 2013 - - -
Q4 2013 - - -
Q1 2014 22.00 22.00 5.14
Q2 2014 27.20 27.20 6.41
Q3 2014 30.58 30.58 6.99
Q4 2014 27.42 27.42 5.77
Q1 2015 24.69 24.69 4.98
Q2 2015 24.25 24.25 5.26
Q3 2015 20.03 19.40 4.27
Q4 2015 20.10 19.60 3.92
Q1 2016 16.72 16.29 3.04
Q2 2016 19.46 18.92 3.20
Q3 2016 10.94 11.05 1.63
Q4 2016 15.51 15.51 2.27
Q1 2017 15.43 15.43 2.11

Business Segments (Million)

Compared With The
Period Retail sector Home appliances Hospitality and Leisure

Analysts Estimates (Million)

Item Q1 2017 (e) Q1 2017 (a) Change‬
Average 22.60 22.53 (0.3 %)

Estimates vs Actual (Million)

Item Q1 2017 (e) Q1 2017 (a) Change
Albilad Capital 24.00 22.53 (6.1) %
OSOOL AND BAKHEET 21.20 22.53 6.3 %

Current
Market Cap (M Riyal) 966.60
Enterprise Value (EV) (M) 1,476.37
Shares Outstanding ((M)) 45.00
EPS ( Riyal) (TTM) 0.47
Book Value (BV) ( Riyal) 14.84
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 41.67
P/E (TTM) 45.60
Price/book 1.45
Return on Average Assets (%) (TTM) 0.9
Return on Average Equity (%) (TTM) 3.2

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