Al Othaim Markets net profit rises 31% to SAR 451 mln in 2020

11/02/2021 Argaam Exclusive

Abdullah Al Othaim Markets Co. posted net profit after Zakat and tax of SAR 451 million in 2020, an increase of 31% compared to a profit of SAR 344.7 million last year.

 

The increase was driven by a growth in sales on the back of high demand for food and grocery supplies during the COVID-19 precautionary lockdown in H1 2020. In addition, gross margin and operating costs benefitted from the government’s efforts to mitigate the impact of the coronavirus pandemic.

 

The firm also realized SAR 6.67 million profits from discontinued agricultural activity.

 

On the other hand, the real estate activity was negatively affected as the company granted discounts and exemptions to tenants.



Financials (M)

Item 2019 2020 Change‬
Revenues 8,165.88 8,808.17 7.9 %
Gross Income 1,692.91 1,908.09 12.7 %
Operating Income 317.03 462.61 45.9 %
Net Income 344.67 450.97 30.8 %
Average Shares 900.00 900.00 -
EPS (Riyals) 0.38 0.50 30.8 %

Q4 2020 net profit after Zakat and tax rose 16% year-on-year (YoY) to SAR 165.5 million, despite a decline in sales as customer demand eased after the hike in the value-added tax (VAT) and as students moved to online education.

 

Compared to the previous quarter, the fourth-quarter earnings rose 172.7%.



Current Quarter Comparison (M)

Compared With The
Item Q4 2019 Q4 2020 Change‬
Revenues 2,098.53 2,044.77 (2.6 %)
Gross Income 512.27 528.05 3.1 %
Operating Income 143.68 159.63 11.1 %
Net Income 142.23 165.48 16.3 %
Average Shares 900.00 900.00 -
EPS (Riyals) 0.16 0.18 16.3 %

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Share Price

Abdullah Al Othaim Markets Co.
11.46
(0.22) (1.88 %)

Abdullah Al Othaim Markets Co. (A.OTHAIM MARKET)

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Financial Ratios
Current
Market Cap (M Riyal) 10,314.00
Enterprise Value (EV) (M) 10,376.51
Shares Outstanding ((M)) 900.00
EPS ( Riyal) (TTM) 0.44
Book Value (BV) ( Riyal) 1.23
Par Value ( Riyal) 1.00
Adjusted P/E (Last12) 26.56
P/E (TTM) 26.28
Price/book 9.35
Return on Average Assets (%) (TTM) 6.3
Return on Average Equity (%) (TTM) 31.2
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