Dar Al Arkan posts lower net profit at SAR 237.6m in I1 of 2013

31/03/2013 Argaam Exclusive

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Share Price

Dar Alarkan Real Estate Development Co. (DAR ALARKAN)

Dar Alarkan Real Estate Development Co., land and real estate ownership and constructing buildings and investing through selling and leasing, reported SAR 237.6m net profit at the end of the first quarter of 2013, a 19% decrease compared to the same period last year, as shown in the following table:

Current Quarter Comparison (M)

Compared With The

Item	Q1 2012	Q1 2013	Change‬
Revenues	868.19	835.82	(3.7 %)
Gross Income	367.46	375.58	2.2 %
Operating Income	335.23	323.22	(3.6 %)
Net Income	292.59	237.61	(18.8 %)
Average Shares	1,080.00	1,080.00	-
EPS (Riyals)	0.27	0.22	(18.8 %)

Item	Q4 2012	Q1 2013	Change‬
Revenues	876.85	835.82	(4.7 %)
Gross Income	308.83	375.58	21.6 %
Operating Income	256.27	323.22	26.1 %
Net Income	144.04	237.61	65.0 %
Average Shares	1,080.00	1,080.00	-
EPS (Riyals)	0.13	0.22	65.0 %

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
Q1 2004	-	-	-	-	-	-	-
Q2 2004	-	-	-	-	-	-	-
Q3 2004	-	-	-	-	-	-	-
Q4 2004	-	-	-	-	-	-	-
2004	2,483.56	87.7 %	1,211.02	98.1 %	1,088.80	104.9 %	1.01
Q1 2005	-	-	-	-	-	-	-
Q2 2005	-	-	-	-	-	-	-
Q3 2005	-	-	-	-	-	-	-
Q4 2005	-	-	-	-	-	-	-
2005	4,196.82	69.0 %	2,029.64	67.6 %	1,775.48	63.1 %	1.64
Q1 2006	846.33	-	399.39	-	380.39	-	0.35
Q2 2006	887.82	-	429.96	-	405.59	-	0.38
Q3 2006	-	-	-	-	-	-	-
Q4 2006	-	-	-	-	-	-	-
2006	4,352.59	3.7 %	2,122.71	4.6 %	1,813.95	2.2 %	1.68
Q1 2007	912.98	7.9 %	452.81	13.4 %	424.60	11.6 %	0.39
Q2 2007	1,041.78	17.3 %	560.20	30.3 %	471.81	16.3 %	0.44
Q3 2007	1,641.14	-	767.13	-	689.80	-	0.64
Q4 2007	1,330.04	-	627.87	-	422.37	-	0.39
2007	4,925.93	13.2 %	2,408.01	13.4 %	2,008.58	10.7 %	1.86
Q1 2008	1,234.17	35.2 %	586.70	29.6 %	452.76	6.6 %	0.42
Q2 2008	1,550.36	48.8 %	836.03	49.2 %	687.53	45.7 %	0.64
Q3 2008	1,567.04	(4.5 %)	859.32	12.0 %	719.50	4.3 %	0.67
Q4 2008	1,259.20	(5.3 %)	563.13	(10.3 %)	496.46	17.5 %	0.46
2008	5,610.77	13.9 %	2,845.18	18.2 %	2,356.25	17.3 %	2.18
Q1 2009	1,237.72	0.3 %	512.83	(12.6 %)	424.52	(6.2 %)	0.39
Q2 2009	1,482.37	(4.4 %)	712.82	(14.7 %)	618.27	(10.1 %)	0.57
Q3 2009	1,523.47	(2.8 %)	714.19	(16.9 %)	616.15	(14.4 %)	0.57
Q4 2009	1,220.50	(3.1 %)	567.29	0.7 %	463.74	(6.6 %)	0.43
2009	5,464.05	(2.6 %)	2,507.14	(11.9 %)	2,122.68	(9.9 %)	1.97
Q1 2010	1,144.94	(7.5 %)	478.42	(6.7 %)	398.65	(6.1 %)	0.37
Q2 2010	1,114.44	(24.8 %)	530.85	(25.5 %)	437.00	(29.3 %)	0.40
Q3 2010	910.21	(40.3 %)	374.90	(47.5 %)	289.63	(53.0 %)	0.27
Q4 2010	972.39	(20.3 %)	380.09	(33.0 %)	330.44	(28.7 %)	0.31
2010	4,141.98	(24.2 %)	1,764.26	(29.6 %)	1,455.71	(31.4 %)	1.35
Q1 2011	955.15	(16.6 %)	366.63	(23.4 %)	273.09	(31.5 %)	0.25
Q2 2011	791.24	(29.0 %)	337.74	(36.4 %)	297.77	(31.9 %)	0.28
Q3 2011	755.19	(17.0 %)	320.63	(14.5 %)	227.47	(21.5 %)	0.21
Q4 2011	810.93	(16.6 %)	344.02	(9.5 %)	289.61	(12.4 %)	0.27
2011	3,312.51	(20.0 %)	1,369.01	(22.4 %)	1,087.94	(25.3 %)	1.01
Q1 2012	868.19	(9.1 %)	367.46	0.2 %	292.59	7.1 %	0.27
Q2 2012	1,083.51	36.9 %	388.05	14.9 %	331.03	11.2 %	0.31
Q3 2012	728.52	(3.5 %)	329.38	2.7 %	220.89	(2.9 %)	0.20
Q4 2012	876.85	8.1 %	308.83	(10.2 %)	144.04	(50.3 %)	0.13
2012	3,557.07	7.4 %	1,393.71	1.8 %	988.54	(9.1 %)	0.92
Q1 2013	835.82	(3.7 %)	375.58	2.2 %	237.61	(18.8 %)	0.22

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
2003	1,323.45	-	611.29	-	531.30	-	0.49
2004	2,483.56	87.7 %	1,211.02	98.1 %	1,088.80	104.9 %	1.01
2005	4,196.82	69.0 %	2,029.64	67.6 %	1,775.48	63.1 %	1.64
2006	4,352.59	3.7 %	2,122.71	4.6 %	1,813.95	2.2 %	1.68
2007	4,925.93	13.2 %	2,408.01	13.4 %	2,008.58	10.7 %	1.86
2008	5,610.77	13.9 %	2,845.18	18.2 %	2,356.25	17.3 %	2.18
2009	5,464.05	(2.6 %)	2,507.14	(11.9 %)	2,122.68	(9.9 %)	1.97
2010	4,141.98	(24.2 %)	1,764.26	(29.6 %)	1,455.71	(31.4 %)	1.35
2011	3,312.51	(20.0 %)	1,369.01	(22.4 %)	1,087.94	(25.3 %)	1.01
2012	3,557.07	7.4 %	1,393.71	1.8 %	988.54	(9.1 %)	0.92

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2004	-	-	-
Q2 2004	-	-	-
Q3 2004	-	-	-
Q4 2004	-	-	-
2004	48.76 %	45.10 %	43.84 %
Q1 2005	-	-	-
Q2 2005	-	-	-
Q3 2005	-	-	-
Q4 2005	-	-	-
2005	48.36 %	44.54 %	42.31 %
Q1 2006	-	-	-
Q2 2006	-	-	-
Q3 2006	-	-	-
Q4 2006	-	-	-
2006	48.77 %	47.53 %	41.68 %
Q1 2007	-	-	-
Q2 2007	-	-	-
Q3 2007	-	-	-
Q4 2007	48.88 %	46.95 %	40.78 %
2007	48.88 %	46.95 %	40.78 %
Q1 2008	48.44 %	46.44 %	38.82 %
Q2 2008	48.96 %	46.74 %	39.13 %
Q3 2008	51.22 %	48.61 %	40.17 %
Q4 2008	50.71 %	48.04 %	42.00 %
2008	50.71 %	48.04 %	42.00 %
Q1 2009	49.36 %	46.59 %	41.47 %
Q2 2009	47.75 %	45.03 %	40.72 %
Q3 2009	45.49 %	42.72 %	39.17 %
Q4 2009	45.88 %	43.22 %	38.85 %
2009	45.88 %	43.22 %	38.85 %
Q1 2010	46.04 %	43.25 %	39.04 %
Q2 2010	45.78 %	42.93 %	38.29 %
Q3 2010	44.45 %	41.53 %	36.20 %
Q4 2010	42.59 %	40.02 %	35.15 %
2010	42.59 %	40.02 %	35.15 %
Q1 2011	41.81 %	39.46 %	33.66 %
Q2 2011	40.21 %	37.78 %	32.82 %
Q3 2011	40.45 %	37.95 %	32.49 %
Q4 2011	41.33 %	38.76 %	32.84 %
2011	41.33 %	38.76 %	32.84 %
Q1 2012	42.47 %	39.68 %	34.33 %
Q2 2012	40.37 %	37.50 %	32.43 %
Q3 2012	40.93 %	37.66 %	30.86 %
Q4 2012	39.18 %	35.45 %	26.20 %
2012	39.18 %	35.45 %	26.20 %
Q1 2013	39.77 %	35.51 %	24.88 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2003	46.19 %	42.05 %	40.15 %
2004	48.76 %	45.10 %	43.84 %
2005	48.36 %	44.54 %	42.31 %
2006	48.77 %	47.53 %	41.68 %
2007	48.88 %	46.95 %	40.78 %
2008	50.71 %	48.04 %	42.00 %
2009	45.88 %	43.22 %	38.85 %
2010	42.59 %	40.02 %	35.15 %
2011	41.33 %	38.76 %	32.84 %
2012	39.18 %	35.45 %	26.20 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2004	-	-	-
Q2 2004	-	-	-
Q3 2004	-	-	-
Q4 2004	-	-	-
Q1 2005	-	-	-
Q2 2005	-	-	-
Q3 2005	-	-	-
Q4 2005	-	-	-
Q1 2006	47.19 %	45.42 %	44.95 %
Q2 2006	48.43 %	46.02 %	45.68 %
Q3 2006	-	-	-
Q4 2006	-	-	-
Q1 2007	49.60 %	48.11 %	46.51 %
Q2 2007	53.77 %	52.18 %	45.29 %
Q3 2007	46.74 %	45.72 %	42.03 %
Q4 2007	47.21 %	43.56 %	31.76 %
Q1 2008	47.54 %	45.63 %	36.69 %
Q2 2008	53.92 %	51.43 %	44.35 %
Q3 2008	54.84 %	52.46 %	45.91 %
Q4 2008	44.72 %	40.73 %	39.43 %
Q1 2009	41.43 %	39.08 %	34.30 %
Q2 2009	48.09 %	45.78 %	41.71 %
Q3 2009	46.88 %	44.36 %	40.44 %
Q4 2009	46.48 %	42.87 %	38.00 %
Q1 2010	41.79 %	38.88 %	34.82 %
Q2 2010	47.63 %	45.19 %	39.21 %
Q3 2010	41.19 %	38.60 %	31.82 %
Q4 2010	39.09 %	36.79 %	33.98 %
Q1 2011	38.38 %	36.32 %	28.59 %
Q2 2011	42.68 %	39.82 %	37.63 %
Q3 2011	42.46 %	39.52 %	30.12 %
Q4 2011	42.42 %	39.89 %	35.71 %
Q1 2012	42.32 %	39.48 %	33.70 %
Q2 2012	35.81 %	32.72 %	30.55 %
Q3 2012	45.21 %	40.35 %	22.54 %
Q4 2012	35.22 %	30.78 %	16.43 %
Q1 2013	44.94 %	39.88 %	28.43 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2004	-	-	-	-
Q2 2004	-	-	-	-
Q3 2004	-	-	-	-
Q4 2004	-	-	-	-
Q1 2005	-	-	-	-
Q2 2005	-	-	-	-
Q3 2005	-	-	-	-
Q4 2005	-	-	-	-
Q1 2006	1,080.00	-	-	10.00
Q2 2006	1,080.00	-	-	10.37
Q3 2006	-	-	-	-
Q4 2006	-	-	-	-
Q1 2007	1,080.00	-	-	10.22
Q2 2007	1,080.00	-	-	10.66
Q3 2007	1,080.00	-	-	9.79
Q4 2007	1,080.00	1.86	1.86	10.19
Q1 2008	1,080.00	1.89	1.89	10.60
Q2 2008	1,080.00	2.09	2.09	9.74
Q3 2008	1,080.00	2.11	2.11	10.41
Q4 2008	1,080.00	2.18	2.18	10.87
Q1 2009	1,080.00	2.16	2.16	11.26
Q2 2009	1,080.00	2.09	2.09	11.83
Q3 2009	1,080.00	2.00	2.00	12.40
Q4 2009	1,080.00	1.97	1.97	12.83
Q1 2010	1,080.00	1.94	1.94	13.20
Q2 2010	1,080.00	1.77	1.77	12.61
Q3 2010	1,080.00	1.47	1.47	12.87
Q4 2010	1,080.00	1.35	1.35	13.18
Q1 2011	1,080.00	1.23	1.23	13.43
Q2 2011	1,080.00	1.10	1.10	13.71
Q3 2011	1,080.00	1.05	1.05	13.92
Q4 2011	1,080.00	1.01	1.01	14.19
Q1 2012	1,080.00	1.03	1.03	14.46
Q2 2012	1,080.00	1.06	1.06	14.77
Q3 2012	1,080.00	1.05	1.00	14.97
Q4 2012	1,080.00	0.92	0.86	15.10
Q1 2013	1,080.00	0.86	0.81	15.32

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2003	1,080.00	0.49	0.49	0.39
2004	1,080.00	1.01	1.01	5.05
2005	1,080.00	1.64	1.64	9.65
2006	1,080.00	1.68	1.68	9.83
2007	1,080.00	1.86	1.86	10.19
2008	1,080.00	2.18	2.18	10.87
2009	1,080.00	1.97	1.97	12.83
2010	1,080.00	1.35	1.35	13.18
2011	1,080.00	1.01	1.01	14.19
2012	1,080.00	0.92	0.86	15.10

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2004	-	-	-
Q2 2004	-	-	-
Q3 2004	-	-	-
Q4 2004	-	-	-
Q1 2005	-	-	-
Q2 2005	-	-	-
Q3 2005	-	-	-
Q4 2005	-	-	-
Q1 2006	-	-	-
Q2 2006	-	-	-
Q3 2006	-	-	-
Q4 2006	-	-	-
Q1 2007	-	-	-
Q2 2007	-	-	-
Q3 2007	-	-	-
Q4 2007	19.77	19.77	3.61
Q1 2008	16.71	16.71	2.97
Q2 2008	12.71	12.71	2.72
Q3 2008	11.43	11.43	2.32
Q4 2008	6.83	6.83	1.37
Q1 2009	6.08	6.08	1.16
Q2 2009	8.48	8.48	1.50
Q3 2009	7.94	7.94	1.28
Q4 2009	7.15	7.15	1.09
Q1 2010	7.29	7.29	1.07
Q2 2010	6.65	6.65	0.94
Q3 2010	6.93	6.93	0.79
Q4 2010	6.68	6.68	0.68
Q1 2011	7.84	7.84	0.72
Q2 2011	7.12	7.12	0.57
Q3 2011	5.98	5.98	0.45
Q4 2011	7.20	7.20	0.51
Q1 2012	12.78	12.78	0.91
Q2 2012	8.57	8.57	0.61
Q3 2012	8.52	8.97	0.60
Q4 2012	9.01	9.56	0.55
Q1 2013	9.54	10.16	0.54

Period	P/E	Adjusted P/E	Price/book
2003	-	-	-
2004	-	-	-
2005	-	-	-
2006	-	-	-
2007	19.77	19.77	3.61
2008	6.83	6.83	1.37
2009	7.15	7.15	1.09
2010	6.68	6.68	0.68
2011	7.20	7.20	0.51
2012	9.01	9.56	0.55

Business Segments (Million)

Compared With The

Period	property Leasing	Sale of Land	Sale of residential properties
Q1 2007	-	560.55	352.43
Q2 2007	-	646.65	395.12
Q1 2008	-	916.32	317.85
Q2 2008	-	1,042.34	508.02
Q3 2008	-	1,455.49	111.56
Q4 2008	-	1,206.25	52.96
Q1 2009	-	1,117.60	120.11
Q2 2009	-	1,330.76	151.61
Q3 2009	-	1,400.67	122.80
Q4 2009	-	1,095.70	124.80
Q1 2010	-	1,026.97	117.97
Q2 2010	-	980.19	134.24
Q3 2010	-	831.26	78.95
Q4 2010	-	926.88	45.51
Q1 2011	5.23	938.54	11.39
Q2 2011	2.78	757.68	30.77
Q3 2011	3.30	729.91	21.98
Q4 2011	3.69	794.04	13.20
Q1 2012	4.66	850.75	12.79
Q2 2012	5.04	1,072.63	5.84
Q3 2012	17.35	708.06	3.12
Q4 2012	25.74	847.56	3.55
Q1 2013	24.92	810.91	-

Period	property Leasing	Sale of Land	Sale of residential properties
2005	-	3,190.79	1,006.03
2006	-	3,201.84	1,150.75
2007	-	3,604.76	1,321.18
2008	-	4,620.39	990.38
2009	-	4,944.73	519.32
2010	-	3,765.30	376.68
2011	15.00	3,220.17	77.35
2012	52.78	3,479.00	25.29

Financial Ratios

	Current
Market Cap (M Riyal)	13,672.80
Enterprise Value (EV) (M)	18,303.27
Shares Outstanding ((M))	1,080.00
EPS ( Riyal) (TTM)	0.60
Book Value (BV) ( Riyal)	18.92
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	21.14
P/E (TTM)	21.14
Price/book	0.67
Return on Average Assets (%) (TTM)	2.0
Return on Average Equity (%) (TTM)	3.2

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Dar Al Arkan posts lower net profit at SAR 237.6m in I1 of 2013

View other reports

Share Price

Dar Alarkan Real Estate Development Co. (DAR ALARKAN)

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) 2013 Q1

Financial Ratios

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Dar Al Arkan posts lower net profit at SAR 237.6m in I1 of 2013

View other reports

Share Price

Dar Alarkan Real Estate Development Co. (DAR ALARKAN)

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) Q1 2013

Revenue by Business Segment (Latest) 2013 Q1

Financial Ratios

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Business Segments (Million)