Alandalus posts 8% profit growth in H1 2019

07/08/2019 Argaam Exclusive

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Share Price

Alandalus Property Co. (ALANDALUS)

Alandalus Property Co. reported a net profit after zakat and tax of SAR 35.4 million, an increase of 8.3 percent year-on-year (YoY) for H1 2019, driven by higher profit share from associates and lower zakat provisions

Financials (M)

Item	6m 2018	6m 2019	Change‬
Revenues	82.06	82.31	0.3 %
Gross Income	48.88	47.19	(3.5 %)
Operating Income	32.20	31.20	(3.1 %)
Net Income	32.69	35.41	8.3 %
Average Shares	93.33	93.33	-
EPS (Riyals)	0.35	0.38	8.3 %

Q2 2019 net earnings increased 24.42 percent YoY to SAR 15.13 million on higher operating profit, higher profit share from associates, lower financing costs and decreased zakat provisions.

On a quarterly basis, net profit dropped 25.4 percent due to lower operating profit and higher general and administrative expenses (G&As).

Current Quarter Comparison (M)

Compared With The

Item	Q2 2018	Q2 2019	Change‬
Revenues	41.28	42.31	2.5 %
Gross Income	24.10	23.61	(2.0 %)
Operating Income	15.57	14.40	(7.5 %)
Net Income	12.16	15.13	24.4 %
Average Shares	93.33	93.33	-
EPS (Riyals)	0.13	0.16	24.4 %

Item	Q1 2019	Q2 2019	Change‬
Revenues	40.00	42.31	5.8 %
Gross Income	23.58	23.61	0.2 %
Operating Income	16.80	14.40	(14.3 %)
Net Income	20.28	15.13	(25.4 %)
Average Shares	93.33	93.33	-
EPS (Riyals)	0.22	0.16	(25.4 %)

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
Q1 2010	-	-	-	-	-	-	-
Q2 2010	-	-	-	-	-	-	-
Q3 2010	-	-	-	-	-	-	-
Q4 2010	-	-	-	-	-	-	-
2010	-	-	-	-	-	-	-
Q1 2011	-	-	-	-	-	-	-
Q2 2011	-	-	-	-	-	-	-
Q3 2011	-	-	-	-	-	-	-
Q4 2011	-	-	-	-	-	-	-
2011	85.14	-	60.14	-	89.13	-	0.95
Q1 2012	-	-	-	-	-	-	-
Q2 2012	-	-	-	-	-	-	-
Q3 2012	-	-	-	-	-	-	-
Q4 2012	-	-	-	-	-	-	-
2012	92.54	8.7 %	65.68	9.2 %	73.76	(17.2 %)	0.79
Q1 2013	-	-	-	-	-	-	-
Q2 2013	-	-	-	-	-	-	-
Q3 2013	-	-	-	-	-	-	-
Q4 2013	-	-	-	-	-	-	-
2013	97.08	4.9 %	71.06	8.2 %	85.56	16.0 %	0.92
Q1 2014	23.73	-	16.02	-	21.42	-	0.23
Q2 2014	25.53	-	18.57	-	21.90	-	0.23
Q3 2014	27.33	-	18.47	-	21.88	-	0.23
Q4 2014	26.03	-	17.60	-	21.61	-	0.23
2014	102.61	5.7 %	70.67	(0.6 %)	86.81	1.5 %	0.93
Q1 2015	29.58	24.7 %	18.23	13.8 %	23.55	10.0 %	0.25
Q2 2015	31.72	24.3 %	20.42	10.0 %	24.67	12.6 %	0.26
Q3 2015	33.06	21.0 %	19.76	7.0 %	24.18	10.5 %	0.26
Q4 2015	32.37	24.4 %	16.66	(5.4 %)	21.68	0.3 %	0.23
2015	126.73	23.5 %	75.08	6.2 %	94.07	8.4 %	1.01
Q1 2016	31.69	7.1 %	19.84	8.8 %	24.80	5.3 %	0.27
Q2 2016	32.06	1.1 %	20.17	(1.2 %)	24.85	0.8 %	0.27
Q3 2016	34.30	3.8 %	20.97	6.1 %	26.37	9.1 %	0.28
Q4 2016	33.62	3.9 %	20.98	25.9 %	15.81	(27.1 %)	0.17
2016	131.67	3.9 %	81.96	9.2 %	91.82	(2.4 %)	0.98
Q1 2017	32.70	3.2 %	20.45	3.1 %	49.45	99.4 %	0.53
Q2 2017	36.51	13.9 %	22.84	13.2 %	27.57	10.9 %	0.30
Q3 2017	38.86	13.3 %	21.26	1.4 %	26.42	0.2 %	0.28
Q4 2017	38.77	15.3 %	15.60	(25.7 %)	14.96	(5.3 %)	0.16
2017	146.83	11.5 %	80.15	(2.2 %)	118.39	28.9 %	1.27
Q1 2018	40.79	24.7 %	24.79	21.2 %	20.52	(58.5 %)	0.22
Q2 2018	41.28	13.1 %	24.10	5.5 %	12.16	(55.9 %)	0.13
Q3 2018	40.51	4.3 %	22.58	6.2 %	12.62	(52.2 %)	0.14
Q4 2018	42.11	8.6 %	22.22	42.4 %	2.67	(82.2 %)	0.03
2018	164.68	12.2 %	93.69	16.9 %	47.97	(59.5 %)	0.51
Q1 2019	40.00	(1.9 %)	23.58	(4.9 %)	20.28	(1.2 %)	0.22
Q2 2019	42.31	2.5 %	23.61	(2.0 %)	15.13	24.4 %	0.16

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
2009	-	-	-	-	-	-	-
2010	-	-	-	-	-	-	-
2011	85.14	-	60.14	-	89.13	-	0.95
2012	92.54	8.7 %	65.68	9.2 %	73.76	(17.2 %)	0.79
2013	97.08	4.9 %	71.06	8.2 %	85.56	16.0 %	0.92
2014	102.61	5.7 %	70.67	(0.6 %)	86.81	1.5 %	0.93
2015	126.73	23.5 %	75.08	6.2 %	94.07	8.4 %	1.01
2016	131.67	3.9 %	81.96	9.2 %	91.82	(2.4 %)	0.98
2017	146.83	11.5 %	80.15	(2.2 %)	118.39	28.9 %	1.27
2018	164.68	12.2 %	93.69	16.9 %	47.97	(59.5 %)	0.51

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2010	-	-	-
Q2 2010	-	-	-
Q3 2010	-	-	-
Q4 2010	-	-	-
2010	-	-	-
Q1 2011	-	-	-
Q2 2011	-	-	-
Q3 2011	-	-	-
Q4 2011	-	-	-
2011	70.63 %	77.39 %	104.68 %
Q1 2012	-	-	-
Q2 2012	-	-	-
Q3 2012	-	-	-
Q4 2012	-	-	-
2012	70.97 %	72.93 %	79.71 %
Q1 2013	-	-	-
Q2 2013	-	-	-
Q3 2013	-	-	-
Q4 2013	-	-	-
2013	73.20 %	75.82 %	88.13 %
Q1 2014	-	-	-
Q2 2014	-	-	-
Q3 2014	-	-	-
Q4 2014	68.87 %	70.94 %	84.60 %
2014	68.87 %	70.94 %	84.60 %
Q1 2015	67.19 %	69.22 %	82.01 %
Q2 2015	65.18 %	67.95 %	79.99 %
Q3 2015	63.15 %	66.03 %	78.09 %
Q4 2015	59.24 %	61.65 %	74.23 %
2015	59.24 %	61.70 %	74.23 %
Q1 2016	59.52 %	61.03 %	73.99 %
Q2 2016	59.17 %	59.81 %	73.93 %
Q3 2016	59.53 %	59.73 %	74.91 %
Q4 2016	62.25 %	60.32 %	69.74 %
2016	62.25 %	60.32 %	69.74 %
Q1 2017	62.23 %	60.30 %	70.49 %
Q2 2017	62.16 %	60.37 %	70.19 %
Q3 2017	60.37 %	58.44 %	67.96 %
Q4 2017	54.59 %	54.38 %	65.01 %
2017	54.59 %	54.24 %	65.01 %
Q1 2018	54.54 %	52.25 %	57.75 %
Q2 2018	53.70 %	48.57 %	46.38 %
Q3 2018	53.96 %	46.94 %	37.36 %
Q4 2018	56.89 %	47.64 %	32.78 %
2018	56.89 %	47.64 %	32.78 %
Q1 2019	56.43 %	48.55 %	32.79 %
Q2 2019	55.78 %	49.45 %	34.39 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2009	-	-	-
2010	-	-	-
2011	70.63 %	77.39 %	104.68 %
2012	70.97 %	72.93 %	79.71 %
2013	73.20 %	75.82 %	88.13 %
2014	68.87 %	70.94 %	84.60 %
2015	59.24 %	61.70 %	74.23 %
2016	62.25 %	60.32 %	69.74 %
2017	54.59 %	54.24 %	65.01 %
2018	56.89 %	47.64 %	32.78 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
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	67.52 %	72.02 %	90.25 %
Q2 2014	72.75 %	73.02 %	85.79 %
Q3 2014	67.59 %	68.17 %	80.06 %
Q4 2014	67.64 %	70.81 %	83.05 %
Q1 2015	61.62 %	65.51 %	79.62 %
Q2 2015	64.39 %	67.68 %	77.77 %
Q3 2015	59.78 %	61.14 %	73.13 %
Q4 2015	51.48 %	52.74 %	66.97 %
Q1 2016	62.61 %	62.72 %	78.25 %
Q2 2016	62.91 %	62.70 %	77.51 %
Q3 2016	61.13 %	60.79 %	76.88 %
Q4 2016	62.41 %	55.31 %	47.01 %
Q1 2017	62.54 %	62.59 %	81.06 %
Q2 2017	62.56 %	62.65 %	75.51 %
Q3 2017	54.72 %	53.69 %	67.99 %
Q4 2017	40.24 %	40.36 %	38.59 %
Q1 2018	60.77 %	52.87 %	50.32 %
Q2 2018	58.38 %	47.21 %	29.47 %
Q3 2018	55.74 %	47.00 %	31.16 %
Q4 2018	52.77 %	43.61 %	20.61 %
Q1 2019	58.95 %	56.69 %	50.70 %
Q2 2019	55.81 %	50.78 %	35.76 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
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	93.33	-	-	7.70
Q2 2014	93.33	-	-	7.94
Q3 2014	93.33	-	-	8.17
Q4 2014	93.33	0.93	0.93	8.40
Q1 2015	93.33	0.95	0.95	8.65
Q2 2015	93.33	0.98	0.98	8.92
Q3 2015	93.33	1.01	1.01	9.18
Q4 2015	93.33	1.01	1.01	9.41
Q1 2016	93.33	1.02	1.02	9.19
Q2 2016	93.33	1.02	1.02	9.08
Q3 2016	93.33	1.05	1.05	9.37
Q4 2016	93.33	0.98	0.98	9.54
Q1 2017	93.33	1.25	1.00	10.07
Q2 2017	93.33	1.28	1.03	10.36
Q3 2017	93.33	1.28	1.03	10.64
Q4 2017	93.33	1.27	1.02	13.16
Q1 2018	93.33	0.96	0.96	13.38
Q2 2018	93.33	0.79	0.79	12.01
Q3 2018	93.33	0.65	0.65	12.15
Q4 2018	93.33	0.51	0.58	12.18
Q1 2019	93.33	0.51	0.58	12.16
Q2 2019	93.33	0.54	0.61	11.57

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2009	-	-	-	-
2010	-	-	-	-
2011	93.33	0.95	0.95	5.76
2012	93.33	0.79	0.79	6.55
2013	93.33	0.92	0.92	7.47
2014	93.33	0.93	0.93	8.40
2015	93.33	1.01	1.01	9.41
2016	93.33	0.98	0.98	9.54
2017	93.33	1.27	1.02	13.16
2018	93.33	0.51	0.58	12.18

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
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	-	-	-
Q2 2014	-	-	-
Q3 2014	-	-	-
Q4 2014	-	-	-
Q1 2015	-	-	-
Q2 2015	-	-	-
Q3 2015	-	-	-
Q4 2015	-	-	-
Q1 2016	15.43	15.43	1.71
Q2 2016	14.79	14.79	1.67
Q3 2016	10.83	10.83	1.21
Q4 2016	14.97	14.97	1.54
Q1 2017	11.26	14.03	1.40
Q2 2017	13.39	16.58	1.65
Q3 2017	12.26	15.19	1.47
Q4 2017	12.22	15.15	1.18
Q1 2018	17.46	17.46	1.25
Q2 2018	17.54	17.54	1.16
Q3 2018	17.42	17.42	0.93
Q4 2018	20.87	18.54	0.88
Q1 2019	23.55	20.92	0.99
Q2 2019	19.83	17.72	0.93

Period	P/E	Adjusted P/E	Price/book
2009	-	-	-
2010	-	-	-
2011	-	-	-
2012	-	-	-
2013	-	-	-
2014	-	-	-
2015	-	-	-
2016	14.97	14.97	1.54
2017	12.22	15.15	1.18
2018	20.87	18.54	0.88

Business Segments (Million)

Compared With The

Period	Retail sector	Hospitality sector	Office sector	Other activities
Q1 2016	31.54	-	0.26	-
Q2 2016	32.10	-	0.26	-
Q3 2016	33.64	-	0.26	-
Q4 2016	33.36	-	0.26	-
Q1 2017	32.44	-	0.26	0.22
Q2 2017	35.90	-	0.26	-
Q3 2017	36.10	1.99	0.26	-
Q4 2017	33.62	4.89	-	-
Q1 2018	35.29	5.49	0.24	-
Q2 2018	35.09	5.93	0.26	-
Q3 2018	33.86	6.39	0.26	-
Q4 2018	36.29	6.57	(0.75)	-
Q1 2019	34.74	5.26	-	-
Q2 2019	37.14	5.18	-	-

Period	Retail sector	Hospitality sector	Office sector	Other activities
2016	130.64	-	1.03	-
2017	138.57	7.23	-	1.03
2018	140.30	24.38	-	-

Financial Ratios

	Current
Market Cap (M Riyal)	2,232.45
Enterprise Value (EV) (M)	3,015.92
Shares Outstanding ((M))	93.33
EPS ( Riyal) (TTM)	0.29
Book Value (BV) ( Riyal)	11.29
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	More than 50
P/E (TTM)	More than 50
Price/book	2.12
Return on Average Assets (%) (TTM)	1.2
Return on Average Equity (%) (TTM)	2.5

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Alandalus posts 8% profit growth in H1 2019

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Share Price

Alandalus Property Co. (ALANDALUS)

Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million)

Revenue by Business Segment (Latest) 2019 Q2

Financial Ratios

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Alandalus posts 8% profit growth in H1 2019

View other reports

Share Price

Alandalus Property Co. (ALANDALUS)

Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million) Q2 2019

Revenue by Business Segment (Latest) 2019 Q2

Financial Ratios

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Business Segments (Million)