AlBaha shrinks H1 2019 losses by 96%

21/08/2019 Argaam Exclusive

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Share Price

Al-Baha Investment and Development Co. (ALBAHA)

AlBaha Investment and Development Co. slashed its losses after zakat and tax by 96 percent year-on-year (YoY) to SAR 422,327 in the first half of 2019 from SAR 10.7 million in net loss a year earlier.

The company incurred last year SAR 16.85 million in zakat expenses for the period from 2000 to 2010.

Financials (M)

Item	6m 2018	6m 2019	Change‬
Revenues	5.88	4.85	(17.5 %)
Gross Income	2.96	2.73	(7.6 %)
Operating Income	1.61	1.16	(27.8 %)
Net Income	(11.58)	(0.60)	94.9 %
Average Shares	2,964.00	2,964.00	-
EPS (Halala)	(0.39)	(0.02)	94.9 %

The firm turned to a net profit of SAR 179,864 in Q2 2019, compared to a net loss of SAR 11.4 million a year earlier, due to the incurred zakat expenses in 2018.

On a sequential basis, the firm swung to net profit in Q2 compared to a net loss of SAR 602,191 in Q1.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2018	Q2 2019	Change‬
Revenues	2.87	2.45	(14.6 %)
Gross Income	1.56	1.40	(10.4 %)
Operating Income	0.86	0.58	(32.6 %)
Net Income	(12.19)	0.09	100.7 %
Average Shares	2,964.00	2,964.00	-
EPS (Halala)	(0.41)	0.00	100.7 %

Item	Q1 2019	Q2 2019	Change‬
Revenues	2.40	2.45	2.1 %
Gross Income	1.33	1.40	5.5 %
Operating Income	0.58	0.58	(0.2 %)
Net Income	(0.69)	0.09	113.2 %
Average Shares	2,964.00	2,964.00	-
EPS (Halala)	(0.02)	0.00	113.2 %

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Halala)
Q1 2010	-	-	-	-	(3.77)	(204.9 %)	(0.15)
Q2 2010	-	-	-	-	(1.48)	0.9 %	(0.06)
Q3 2010	0.16	(35.3 %)	(0.81)	(11.9 %)	(0.97)	(6.2 %)	(0.04)
Q4 2010	-	-	(0.31)	25.9 %	(0.20)	78.0 %	(0.01)
2010	0.16	(35.3 %)	(1.12)	2.0 %	(6.43)	(40.9 %)	(0.26)
Q1 2011	-	-	-	-	(1.86)	50.7 %	(0.07)
Q2 2011	-	-	-	-	(1.60)	(7.9 %)	(0.06)
Q3 2011	0.16	3.2 %	(1.08)	(33.6 %)	(3.96)	(307.3 %)	(0.16)
Q4 2011	-	-	(0.29)	5.8 %	1.67	931.8 %	0.07
2011	0.16	3.2 %	(1.38)	(22.7 %)	(5.74)	10.7 %	(0.23)
Q1 2012	-	-	-	-	(1.18)	36.5 %	(0.05)
Q2 2012	-	-	-	-	(1.46)	8.9 %	(0.06)
Q3 2012	0.11	(34.8 %)	(0.82)	24.5 %	(1.54)	61.2 %	(0.06)
Q4 2012	-	-	(0.31)	(6.1 %)	(1.29)	(177.2 %)	(0.05)
2012	0.11	(34.8 %)	(1.13)	18.0 %	(5.46)	4.9 %	(0.22)
Q1 2013	-	-	-	-	(69.94)	(5,832.2 %)	(2.78)
Q2 2013	-	-	-	-	(1.07)	26.8 %	(0.04)
Q3 2013	-	-	(0.24)	71.0 %	(1.42)	7.3 %	(0.06)
Q4 2013	-	-	-	-	(5.85)	(353.2 %)	(0.23)
2013	-	-	-	-	(78.28)	(1,333.2 %)	(3.12)
Q1 2014	-	-	-	-	(1.11)	98.4 %	(0.04)
Q2 2014	-	-	-	-	(1.16)	(8.9 %)	(0.05)
Q3 2014	-	-	-	-	(0.95)	33.4 %	(0.04)
Q4 2014	-	-	-	-	(0.88)	84.9 %	(0.04)
2014	-	-	-	-	(4.10)	94.8 %	(0.16)
Q1 2015	0.41	-	0.15	-	0.04	103.4 %	0.00
Q2 2015	0.62	-	0.13	-	0.01	100.6 %	0.00
Q3 2015	1.63	-	0.10	-	0.01	100.5 %	0.00
Q4 2015	2.86	-	0.23	-	0.02	101.9 %	0.00
2015	5.52	-	0.61	-	0.07	101.6 %	0.00
Q1 2016	1.68	308.5 %	0.13	(17.8 %)	0.01	(76.3 %)	0.00
Q2 2016	1.51	143.9 %	0.14	7.0 %	0.01	(14.3 %)	0.00
Q3 2016	2.88	77.1 %	0.18	81.4 %	0.01	20.0 %	0.00
Q4 2016	2.81	(2.0 %)	0.17	(26.0 %)	(0.15)	(994.1 %)	(0.01)
2016	8.88	60.8 %	0.61	0.2 %	0.03	(58.2 %)	0.00
Q1 2017	2.21	31.4 %	0.15	17.6 %	0.01	(33.3 %)	0.00
Q2 2017	0.57	(62.1 %)	0.57	314.5 %	(0.33)	(5550.0 %)	(0.01)
Q3 2017	0.36	(87.6 %)	0.36	103.4 %	(0.26)	(4416.7 %)	(0.01)
Q4 2017	4.23	50.8 %	1.61	843.9 %	4.57	3105.3 %	0.16
2017	7.37	(17.0 %)	2.69	341.1 %	3.99	14139.3 %	0.14
Q1 2018	3.01	36.2 %	1.39	845.6 %	0.61	10000.0 %	0.02
Q2 2018	2.87	401.9 %	1.56	173.4 %	(12.19)	(3,627.8 %)	(0.41)
Q3 2018	2.29	540.8 %	1.04	190.5 %	0.28	206.6 %	0.01
Q4 2018	1.50	(64.5 %)	0.80	(50.3 %)	(0.02)	(100.4 %)	0.00
2018	9.68	31.3 %	4.80	78.3 %	(11.33)	(384.0 %)	(0.38)
Q1 2019	2.40	(20.3 %)	1.33	(4.5 %)	(0.69)	(213.4 %)	(0.02)
Q2 2019	2.45	(14.6 %)	1.40	(10.4 %)	0.09	100.7 %	0.00

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Halala)
2009	0.24	7.1 %	(1.14)	7.8 %	(4.56)	69.5 %	(0.18)
2010	0.16	(35.3 %)	(1.12)	2.0 %	(6.43)	(40.9 %)	(0.26)
2011	0.16	3.2 %	(1.38)	(22.7 %)	(5.74)	10.7 %	(0.23)
2012	0.11	(34.8 %)	(1.13)	18.0 %	(5.46)	4.9 %	(0.22)
2013	-	-	-	-	(78.28)	(1,333.2 %)	(3.12)
2014	-	-	-	-	(4.10)	94.8 %	(0.16)
2015	5.52	-	0.61	-	0.07	101.6 %	0.00
2016	8.88	60.8 %	0.61	0.2 %	0.03	(58.2 %)	0.00
2017	7.37	(17.0 %)	2.69	341.1 %	3.99	14139.3 %	0.14
2018	9.68	31.3 %	4.80	78.3 %	(11.33)	(384.0 %)	(0.38)

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2010	(474.69 %)	(1881.74 %)	(2944.40 %)
Q2 2010	(474.69 %)	(1880.91 %)	(2938.59 %)
Q3 2010	(788.46 %)	(3073.08 %)	(4576.28 %)
Q4 2010	(718.59 %)	(3704.49 %)	(4119.23 %)
2010	(718.59 %)	(3704.49 %)	(4119.23 %)
Q1 2011	(718.59 %)	(2630.13 %)	(2892.95 %)
Q2 2011	(718.59 %)	(2837.18 %)	(2967.95 %)
Q3 2011	(865.22 %)	(4380.75 %)	(4729.19 %)
Q4 2011	(854.04 %)	(3952.80 %)	(3565.84 %)
2011	(854.04 %)	(4705.59 %)	(3565.84 %)
Q1 2012	(854.04 %)	(3526.71 %)	(3144.10 %)
Q2 2012	(854.04 %)	(3447.20 %)	(3055.28 %)
Q3 2012	(1057.14 %)	(2997.14 %)	(2380.00 %)
Q4 2012	(1074.29 %)	(2841.90 %)	(5201.90 %)
2012	(1074.29 %)	(2841.90 %)	(5201.90 %)
Q1 2013	(1074.29 %)	(2924.76 %)	(5261.90 %)
Q2 2013	(1074.29 %)	(2573.33 %)	(4889.52 %)
Q3 2013	-	-	-
Q4 2013	-	-	-
2013	-	-	-
Q1 2014	-	-	-
Q2 2014	-	-	-
Q3 2014	-	-	-
Q4 2014	-	-	-
2014	-	-	-
Q1 2015	36.89 %	(312.14 %)	(717.23 %)
Q2 2015	27.26 %	(62.37 %)	(173.33 %)
Q3 2015	14.22 %	(11.62 %)	(31.37 %)
Q4 2015	11.03 %	1.25 %	1.21 %
2015	11.03 %	1.25 %	1.21 %
Q1 2016	8.57 %	0.59 %	0.56 %
Q2 2016	7.69 %	0.51 %	0.48 %
Q3 2016	7.50 %	0.45 %	0.43 %
Q4 2016	6.87 %	(1.46 %)	(1.48 %)
2016	6.87 %	0.33 %	0.32 %
Q1 2017	6.72 %	(1.41 %)	(1.42 %)
Q2 2017	12.58 %	0.32 %	19.45 %
Q3 2017	20.99 %	3.30 %	23.26 %
Q4 2017	36.50 %	11.73 %	54.10 %
2017	36.50 %	11.73 %	25.39 %
Q1 2018	48.13 %	22.42 %	56.14 %
Q2 2018	47.04 %	26.27 %	27.71 %
Q3 2018	45.20 %	25.64 %	27.70 %
Q4 2018	49.55 %	32.34 %	9.98 %
2018	49.56 %	32.35 %	9.98 %
Q1 2019	52.20 %	43.69 %	(3.61 %)
Q2 2019	52.84 %	54.86 %	(3.91 %)

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2009	(474.69 %)	(838.59 %)	(1892.95 %)
2010	(718.59 %)	(3704.49 %)	(4119.23 %)
2011	(854.04 %)	(4705.59 %)	(3565.84 %)
2012	(1074.29 %)	(2841.90 %)	(5201.90 %)
2013	-	-	-
2014	-	-	-
2015	11.03 %	1.25 %	1.21 %
2016	6.87 %	0.33 %	0.32 %
2017	36.50 %	11.73 %	25.39 %
2018	49.56 %	32.35 %	9.98 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2010	-	-	-
Q2 2010	-	-	-
Q3 2010	(518.59 %)	(249.36 %)	(622.44 %)
Q4 2010	-	-	-
Q1 2011	-	-	-
Q2 2011	-	-	-
Q3 2011	(671.43 %)	(1873.29 %)	(2456.52 %)
Q4 2011	-	-	-
Q1 2012	-	-	-
Q2 2012	-	-	-
Q3 2012	(777.14 %)	(583.81 %)	(1461.90 %)
Q4 2012	-	-	-
Q1 2013	-	-	-
Q2 2013	-	-	-
Q3 2013	-	-	-
Q4 2013	-	-	-
Q1 2014	-	-	-
Q2 2014	-	-	-
Q3 2014	-	-	-
Q4 2014	-	-	-
Q1 2015	36.89 %	9.22 %	9.22 %
Q2 2015	20.84 %	1.13 %	1.13 %
Q3 2015	5.96 %	0.31 %	0.31 %
Q4 2015	8.07 %	0.66 %	0.59 %
Q1 2016	7.43 %	0.53 %	0.53 %
Q2 2016	9.14 %	0.40 %	0.40 %
Q3 2016	6.10 %	0.21 %	0.21 %
Q4 2016	6.10 %	(5.38 %)	(5.42 %)
Q1 2017	6.65 %	0.27 %	0.27 %
Q2 2017	100.00 %	29.02 %	312.59 %
Q3 2017	100.00 %	48.88 %	(72.35 %)
Q4 2017	38.15 %	12.24 %	57.98 %
Q1 2018	46.15 %	32.30 %	20.12 %
Q2 2018	54.48 %	37.79 %	3.55 %
Q3 2018	45.34 %	26.42 %	12.03 %
Q4 2018	53.40 %	31.03 %	(1.20 %)
Q1 2019	55.29 %	75.15 %	(28.60 %)
Q2 2019	57.14 %	76.18 %	3.71 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Halala)	Adjusted EPS (Halala)	Book Value (BV)
Q1 2010	2,511.87	(0.28)	(0.28)	0.04
Q2 2010	2,511.87	(0.28)	(0.28)	0.04
Q3 2010	2,511.87	(0.28)	(0.28)	0.04
Q4 2010	2,511.87	(0.26)	(0.26)	0.04
Q1 2011	2,511.87	(0.18)	(0.18)	0.04
Q2 2011	2,511.87	(0.18)	(0.18)	0.04
Q3 2011	2,511.87	(0.30)	(0.30)	0.03
Q4 2011	2,511.87	(0.23)	(0.23)	0.04
Q1 2012	2,511.87	(0.20)	(0.20)	0.03
Q2 2012	2,511.87	(0.20)	(0.20)	0.03
Q3 2012	2,511.87	(0.10)	(0.10)	0.03
Q4 2012	2,511.87	(0.22)	(0.22)	0.03
Q1 2013	2,511.87	(2.95)	(0.22)	0.01
Q2 2013	2,511.87	(2.94)	(0.20)	0.01
Q3 2013	2,511.87	(2.93)	(0.20)	0.01
Q4 2013	2,511.87	(3.12)	(0.38)	0.00
Q1 2014	2,511.87	(0.38)	(0.38)	0.00
Q2 2014	2,511.87	(0.38)	(0.38)	0.00
Q3 2014	2,511.87	(0.36)	(0.36)	0.00
Q4 2014	2,511.87	(0.16)	(0.16)	0.00
Q1 2015	2,511.87	(0.12)	(0.12)	0.00
Q2 2015	2,511.87	(0.07)	(0.07)	0.00
Q3 2015	2,511.87	(0.03)	(0.03)	0.00
Q4 2015	2,511.87	0.00	0.00	0.00
Q1 2016	2,511.87	0.00	0.00	0.00
Q2 2016	2,511.87	0.00	0.00	0.00
Q3 2016	2,511.87	0.00	0.00	0.00
Q4 2016	2,511.87	(0.01)	(0.01)	0.00
Q1 2017	2,850.97	0.00	0.00	0.00
Q2 2017	2,850.97	(0.02)	0.06	0.05
Q3 2017	2,850.97	(0.03)	0.05	0.05
Q4 2017	2,850.97	0.14	0.14	0.05
Q1 2018	2,964.00	0.15	0.15	0.05
Q2 2018	2,964.00	(0.25)	0.10	0.05
Q3 2018	2,964.00	(0.23)	0.12	0.05
Q4 2018	2,964.00	(0.38)	0.03	0.05
Q1 2019	2,964.00	(0.43)	(0.01)	0.05
Q2 2019	2,964.00	(0.01)	(0.01)	0.05

Period	Shares Outstanding (M)	EPS (Halala)	Adjusted EPS (Halala)	Book Value (BV)
2009	2,511.87	(0.18)	(0.18)	0.04
2010	2,511.87	(0.26)	(0.26)	0.04
2011	2,511.87	(0.23)	(0.23)	0.04
2012	2,511.87	(0.22)	(0.22)	0.03
2013	2,511.87	(3.12)	(0.38)	0.00
2014	2,511.87	(0.16)	(0.16)	0.00
2015	2,511.87	0.00	0.00	0.00
2016	2,511.87	0.00	0.00	0.00
2017	2,850.97	0.14	0.07	0.05
2018	2,964.00	(0.38)	0.03	0.05

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2010	NEG	NEG	6.18
Q2 2010	NEG	NEG	5.10
Q3 2010	NEG	NEG	4.94
Q4 2010	NEG	NEG	4.63
Q1 2011	NEG	NEG	5.18
Q2 2011	NEG	NEG	5.76
Q3 2011	NEG	NEG	7.51
Q4 2011	NEG	NEG	6.98
Q1 2012	NEG	NEG	9.81
Q2 2012	NEG	NEG	6.79
Q3 2012	NEG	NEG	7.83
Q4 2012	NEG	NEG	7.59
Q1 2013	NEG	NEG	29.31
Q2 2013	NEG	NEG	31.24
Q3 2013	NEG	NEG	34.46
Q4 2013	NEG	NEG	59.94
Q1 2014	NEG	NEG	69.68
Q2 2014	NEG	NEG	83.89
Q3 2014	NEG	NEG	100.72
Q4 2014	NEG	NEG	123.46
Q1 2015	NEG	NEG	122.26
Q2 2015	NEG	NEG	122.10
Q3 2015	NEG	NEG	121.88
Q4 2015	More than 100	More than 100	121.32
Q1 2016	More than 100	More than 100	121.05
Q2 2016	More than 100	More than 100	120.86
Q3 2016	More than 100	More than 100	120.68
Q4 2016	NEG	NEG	120.47
Q1 2017	NEG	NEG	120.28
Q2 2017	NEG	More than 100	2.71
Q3 2017	NEG	More than 100	4.08
Q4 2017	More than 100	More than 100	3.31
Q1 2018	98.46	98.46	2.94
Q2 2018	NEG	More than 100	3.07
Q3 2018	NEG	92.98	2.26
Q4 2018	NEG	More than 100	3.56
Q1 2019	NEG	NEG	3.22
Q2 2019	NEG	NEG	2.98

Period	P/E	Adjusted P/E	Price/book
2009	NEG	NEG	6.24
2010	NEG	NEG	4.63
2011	NEG	NEG	6.98
2012	NEG	NEG	7.59
2013	NEG	NEG	59.94
2014	NEG	NEG	123.46
2015	More than 100	More than 100	121.32
2016	More than 100	More than 100	120.47
2017	More than 100	More than 100	3.31
2018	NEG	More than 100	3.56

Business Segments (Million)

Compared With The

Period	Rents
Q1 2019	2.40
Q2 2019	2.45

Period	Rents
2018	9.68

Financial Ratios

	Current
Market Cap (M Riyal)	386.10
Enterprise Value (EV) (M)	398.27
Shares Outstanding ((M))	2,970.00
EPS (Halala) (TTM)	0.13
Book Value (BV) ( Riyal)	0.07
Par Value ( Halala)	10.00
Adjusted P/E (Last12)	More than 100
P/E (TTM)	More than 100
Price/book	1.80
Return on Average Assets (%) (TTM)	1.3
Return on Average Equity (%) (TTM)	1.9

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AlBaha shrinks H1 2019 losses by 96%

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Al-Baha Investment and Development Co. (ALBAHA)

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AlBaha shrinks H1 2019 losses by 96%

View other reports

Share Price

Al-Baha Investment and Development Co. (ALBAHA)

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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