Al Ahsa Development's net profit rises more than five-fold in 9M 2019

27/10/2019 Argaam Exclusive

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AYYAN Investment Co.
19.68
(0.96) (4.65 %)

AYYAN Investment Co. (AYYAN)

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Al Ahsa Development Co. reported a net profit after zakat and tax of SAR 8.5 million for the first 9 months of 2019, an increase of more than five-fold year-on-year (YoY), driven by higher revenue, lower selling and marketing expenses and decreased zakat charges.



Financials (M)

Item 9m 2018 9m 2019 Change‬
Revenues 164.24 176.51 7.5 %
Gross Income 38.74 45.28 16.9 %
Operating Income (3.70) 0.26 107.0 %
Net Income (1.29) 5.70 541.2 %
Average Shares 49.00 49.00 -
EPS (Riyals) (0.03) 0.12 541.2 %

The company's net profit for Q3 2019 increased 24.1 percent YoY to SAR 3.14 million, due to higher revenue, and lower sales revenue.

 

On a sequential basis, Q3 2019 net profit rose by 5.4 percent.



Current Quarter Comparison (M)

Compared With The
Item Q3 2018 Q3 2019 Change‬
Revenues 57.55 60.26 4.7 %
Gross Income 14.21 15.68 10.4 %
Operating Income (0.42) 0.52 223.6 %
Net Income 1.17 2.30 96.8 %
Average Shares 49.00 49.00 -
EPS (Riyals) 0.02 0.05 96.8 %


Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Riyal)
Q1 2010 - - - - 6.32 201.0 % 0.13
Q2 2010 - - - - (2.83) (138.1 %) (0.06)
Q3 2010 - - - - 2.48 (46.2 %) 0.05
Q4 2010 - - - - 40.31 1769.2 % 0.82
Q1 2011 - - - - 4.79 (24.2 %) 0.10
Q2 2011 - - - - 2.88 202.0 % 0.06
Q3 2011 - - - - 1.43 (42.4 %) 0.03
Q4 2011 - - - - (8.97) (122.2 %) (0.18)
Q1 2012 3.38 - 3.38 - 3.29 (31.2 %) 0.07
Q2 2012 - - (3.38) - 4.44 54.1 % 0.09
Q3 2012 - - - - (1.45) (201.5 %) (0.03)
Q4 2012 - - - - (3.62) 59.6 % (0.07)
Q1 2013 1.43 (57.6 %) 0.45 (86.7 %) 0.61 (81.6 %) 0.01
Q2 2013 2.26 - 0.54 116.0 % 3.53 (20.6 %) 0.07
Q3 2013 1.13 - (0.06) - 1.17 180.6 % 0.02
Q4 2013 1.65 - (0.28) - 10.71 395.8 % 0.22
Q1 2014 0.73 (49.1 %) 0.00 (100.4 %) 4.70 674.8 % 0.10
Q2 2014 2.47 9.4 % 0.58 6.9 % (4.11) (216.6 %) (0.08)
Q3 2014 1.02 (10.1 %) (0.08) (36.1 %) (12.83) (1198.1 %) (0.26)
Q4 2014 2.57 55.5 % 0.25 189.2 % (22.37) (308.8 %) (0.46)
Q1 2015 9.51 1202.9 % 2.66 132900.0 % 4.74 0.9 % 0.10
Q2 2015 47.51 1820.4 % 13.14 2176.6 % 29.26 811.3 % 0.60
Q3 2015 43.30 4157.4 % 10.82 13141.0 % 7.56 159.0 % 0.15
Q4 2015 50.24 1858.1 % 12.67 4989.2 % (0.41) 98.2 % (0.01)
Q1 2016 49.61 421.6 % 12.71 378.4 % (2.79) (158.8 %) (0.06)
Q2 2016 49.61 4.4 % 12.68 (3.4 %) (12.83) (143.8 %) (0.26)
Q3 2016 45.23 4.5 % 13.43 24.1 % (2.88) (138.1 %) (0.06)
Q4 2016 47.48 (5.5 %) 9.52 (24.9 %) (14.17) (3,382.6 %) (0.29)
Q1 2017 50.64 2.1 % 12.56 (1.2 %) 1.00 135.9 % 0.02
Q2 2017 55.45 11.8 % 15.06 18.8 % 1.59 112.4 % 0.03
Q3 2017 49.78 10.1 % 12.73 (5.2 %) (2.11) 26.6 % (0.04)
Q4 2017 53.20 12.0 % 12.54 31.8 % (9.93) 30.0 % (0.20)
Q1 2018 53.02 4.7 % 12.41 (1.2 %) (2.79) (378.1 %) (0.06)
Q2 2018 53.67 (3.2 %) 12.13 (19.5 %) 0.32 (79.6 %) 0.01
Q3 2018 57.55 15.6 % 14.21 11.6 % 1.17 155.4 % 0.02
Q4 2018 61.42 15.5 % 13.99 11.5 % 8.51 185.8 % 0.17
Q1 2019 57.62 8.7 % 14.62 17.9 % 1.42 151.0 % 0.03
Q2 2019 58.62 9.2 % 14.98 23.5 % 1.98 510.8 % 0.04
Q3 2019 60.26 4.7 % 15.68 10.4 % 2.30 96.8 % 0.05

Profitability

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 100.00 % (39.20 %) 134.47 %
Q2 2012 - (141.95 %) 180.58 %
Q3 2012 - (133.40 %) 95.48 %
Q4 2012 - (139.43 %) 78.81 %
Q1 2013 (204.53 %) (539.68 %) (1.46 %)
Q2 2013 26.79 % (99.59 %) (25.35 %)
Q3 2013 19.25 % (89.06 %) 34.82 %
Q4 2013 10.04 % (95.52 %) 315.10 %
Q1 2014 3.43 % (103.24 %) 424.48 %
Q2 2014 3.93 % (88.57 %) 281.77 %
Q3 2014 3.63 % (128.17 %) 620.97 %
Q4 2014 10.92 % (157.30 %) 217.25 %
Q1 2015 21.83 % (65.06 %) 75.87 %
Q2 2015 26.33 % (17.50 %) 69.87 %
Q3 2015 26.11 % (6.83 %) 5.79 %
Q4 2015 26.09 % 4.77 % 8.07 %
Q1 2016 25.88 % 5.37 % 4.76 %
Q2 2016 25.36 % 6.95 % (14.75 %)
Q3 2016 26.45 % 8.29 % (8.05 %)
Q4 2016 25.18 % 4.00 % (8.51 %)
Q1 2017 24.97 % 4.40 % (7.26 %)
Q2 2017 25.44 % 4.43 % (0.68 %)
Q3 2017 24.52 % 4.39 % 0.95 %
Q4 2017 25.30 % 3.92 % (3.32 %)
Q1 2018 24.94 % 2.88 % (5.08 %)
Q2 2018 23.76 % 2.89 % (5.72 %)
Q3 2018 23.59 % 3.08 % (5.16 %)
Q4 2018 23.37 % 3.99 % 3.20 %
Q1 2019 23.86 % 5.12 % 4.96 %
Q2 2019 24.57 % 2.19 % 5.56 %
Q3 2019 24.91 % 5.57 % 5.97 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2010 49.00 0.33 0.33 8.87
Q2 2010 49.00 0.12 0.12 8.65
Q3 2010 49.00 0.07 0.07 8.73
Q4 2010 49.00 0.94 1.35 9.78
Q1 2011 49.00 0.91 1.32 9.84
Q2 2011 49.00 1.03 1.44 9.85
Q3 2011 49.00 1.01 1.42 9.79
Q4 2011 49.00 0.00 0.12 9.60
Q1 2012 49.00 (0.03) 0.09 10.22
Q2 2012 49.00 0.00 0.12 9.77
Q3 2012 49.00 (0.05) 0.07 9.86
Q4 2012 49.00 0.05 0.05 9.87
Q1 2013 49.00 0.00 0.00 9.92
Q2 2013 49.00 (0.02) (0.02) 10.13
Q3 2013 49.00 0.03 0.03 10.33
Q4 2013 49.00 0.33 0.42 10.71
Q1 2014 49.00 0.41 0.50 10.68
Q2 2014 49.00 0.25 0.34 10.71
Q3 2014 49.00 (0.03) 0.74 10.52
Q4 2014 49.00 (0.71) 0.30 9.90
Q1 2015 49.00 (0.71) 0.24 10.17
Q2 2015 49.00 (0.02) 0.86 10.86
Q3 2015 49.00 0.39 0.12 10.59
Q4 2015 49.00 0.84 0.25 10.79
Q1 2016 49.00 0.69 0.19 10.51
Q2 2016 49.00 (0.17) (0.58) 10.24
Q3 2016 49.00 (0.39) (0.32) 10.13
Q4 2016 49.00 (0.67) (0.33) 9.96
Q1 2017 49.00 (0.59) (0.29) 9.95
Q2 2017 49.00 (0.30) (0.03) 9.93
Q3 2017 49.00 (0.28) 0.04 9.95
Q4 2017 49.00 (0.19) (0.14) 9.74
Q1 2018 49.00 (0.27) (0.22) 10.59
Q2 2018 49.00 (0.30) (0.24) 10.65
Q3 2018 49.00 (0.23) (0.23) 10.66
Q4 2018 49.00 0.15 0.15 10.73
Q1 2019 49.00 0.23 0.23 10.69
Q2 2019 49.00 0.27 0.27 10.05
Q3 2019 49.00 0.29 0.29 10.22

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2010 60.23 60.23 2.21
Q2 2010 More than 100 More than 100 2.04
Q3 2010 More than 100 More than 100 1.89
Q4 2010 19.25 13.44 1.86
Q1 2011 19.19 13.26 1.78
Q2 2011 17.58 12.59 1.84
Q3 2011 16.08 11.44 1.66
Q4 2011 More than 100 More than 100 2.24
Q1 2012 NEG More than 100 3.51
Q2 2012 More than 100 More than 100 2.17
Q3 2012 NEG More than 100 2.51
Q4 2012 More than 100 More than 100 2.18
Q1 2013 NEG NEG 2.50
Q2 2013 NEG NEG 2.17
Q3 2013 More than 100 More than 100 2.40
Q4 2013 74.26 58.28 2.27
Q1 2014 68.36 56.11 2.63
Q2 2014 More than 100 83.92 2.70
Q3 2014 NEG 42.36 3.00
Q4 2014 NEG 79.52 2.42
Q1 2015 NEG 99.61 2.36
Q2 2015 NEG 31.40 2.50
Q3 2015 45.16 More than 100 1.67
Q4 2015 24.18 81.85 1.88
Q1 2016 30.94 More than 100 2.02
Q2 2016 NEG NEG 1.91
Q3 2016 NEG NEG 1.63
Q4 2016 NEG NEG 1.93
Q1 2017 NEG NEG 2.49
Q2 2017 NEG NEG 1.99
Q3 2017 NEG More than 100 2.05
Q4 2017 NEG NEG 2.03
Q1 2018 NEG NEG 1.75
Q2 2018 NEG NEG 1.77
Q3 2018 NEG NEG 1.56
Q4 2018 More than 100 More than 100 1.53
Q1 2019 73.53 73.53 1.60
Q2 2019 63.61 63.61 1.69
Q3 2019 59.45 59.45 1.69

Business Segments (Million)

Compared With The
Period medical service Manufacturing sector Investments Food
Q1 2013 - - 3.29 1.43
Q2 2013 - - 5.37 2.26
Q3 2013 - - 3.62 1.13
Q4 2013 - - 2.52 1.65
Q1 2014 - 0.73 - -
Q2 2014 - 2.47 - -
Q3 2014 - 1.02 - -
Q4 2014 - 2.57 - -
Q1 2015 6.92 2.59 - -
Q2 2015 44.09 3.43 - -
Q3 2015 41.55 1.75 - -
Q4 2015 47.09 3.15 - -
Q1 2016 46.51 3.10 - -
Q2 2016 45.56 4.04 - -
Q3 2016 43.72 1.51 - -
Q4 2016 44.67 2.81 - -
Q1 2017 47.97 2.67 - -
Q2 2017 50.48 4.98 - -
Q3 2017 46.87 2.91 - -
Q4 2017 50.60 2.59 - -
Q1 2018 50.24 2.78 - -
Q2 2018 48.22 5.45 - -
Q3 2018 54.82 2.73 - -
Q4 2018 57.67 3.75 - -
Q1 2019 53.71 3.91 - -
Q2 2019 54.45 4.17 - -
Q3 2019 56.65 3.62 - -


Financial Ratios
Current
Market Cap (M Riyal) 1,587.00
Enterprise Value (EV) (M) 2,300.26
Shares Outstanding ((M)) 80.64
EPS ( Riyal) (TTM) (2.79)
Book Value (BV) ( Riyal) 5.49
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 3.59
Return on Average Assets (%) (TTM) (13.69 )
Return on Average Equity (%) (TTM) (39.81 )
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