Alsaif Gallery net profit down 30% to SAR 129.8 mln in 2022; Q4 at SAR 28.1 mln

16/03/2023 Argaam Exclusive

Alsaif Stores for Development and Investment Co. (Alsaif Gallery) reported a decline of 30% in net profit to SAR 129.8 million in 2022, from SAR 184.9 million a year earlier.



Financials (M)

Item 2021 2022 Change‬
Revenues 825.29 739.11 (10.4 %)
Gross Income 275.53 206.26 (25.1 %)
Operating Income 174.51 112.61 (35.5 %)
Net Income 184.88 129.77 (29.8 %)
Average Shares 350.00 350.00 -
Earnings Per Share before unusual items (Riyals) 0.53 0.33 (37.9 %)
EPS (Riyals) 0.53 0.37 (29.8 %)

The profit decline was attributed to a 10% drop in sales and the higher cost of goods sold due to an uptick in the cost of purchased goods. This is besides increased shipping costs which began to return to average by 2022-end.

 

The company reported a decrease of 46% in net profit to SAR 28.05 million in Q4 2022 from SAR 51.90 million in the year-ago period.

 

Sequentially, net profit rose 2% from SAR 27.51 million in Q3 2022.



Current Quarter Comparison (M)

Compared With The
Item Q4 2021 Q4 2022 Change‬
Revenues 202.43 188.40 (6.9 %)
Gross Income 65.14 35.02 (46.2 %)
Operating Income 41.54 11.51 (72.3 %)
Net Income 51.90 28.05 (46.0 %)
Average Shares 350.00 350.00 -
Earnings Per Share before unusual items (Riyals) 0.15 0.04 (74.8 %)
EPS (Riyals) 0.15 0.08 (46.0 %)

Total shareholders’ equity, with no minority interest, fell to SAR 411.10 million as of Dec. 31, 2022, from SAR 381.13 million a year earlier.

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Share Price

AlSaif Stores for Development and Investment Co.
7.89
0.05 0.64 %

AlSaif Stores for Development and Investment Co. (ALSAIF GALLERY)

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Financial Ratios
Current
Market Cap (M Riyal) 2,761.50
Enterprise Value (EV) (M) 2,850.88
Shares Outstanding ((M)) 350.00
EPS ( Riyal) (TTM) 0.15
Book Value (BV) ( Riyal) 1.25
Par Value ( Riyal) 1.00
Adjusted P/E (Last12) More than 100
P/E (TTM) More than 100
Price/book 6.31
Return on Average Assets (%) (TTM) 6.4
Return on Average Equity (%) (TTM) 12.1
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Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items Earnings Per Share before unusual items
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 - - - - - -
Q2 2016 - - - - - -
Q3 2016 - - - - - -
Q4 2016 - - - - - -
Q1 2017 - - - - - -
Q2 2017 - - - - - -
Q3 2017 - - - - - -
Q4 2017 - - - - - -
Q1 2018 - - - - - -
Q2 2018 - - - - - -
Q3 2018 - - - - - -
Q4 2018 - - - - - -
Q1 2019 - - - - - -
Q2 2019 - - - - - -
Q3 2019 - - - - - -
Q4 2019 - - - - - -
Q1 2020 - - - - - -
Q2 2020 - - - - - -
Q3 2020 - - - - - -
Q4 2020 - - - - - -
Q1 2021 73.85 - 0.21 - 73.85 0.21
Q2 2021 34.52 - 0.10 - 34.52 0.10
Q3 2021 24.62 - 0.07 - 24.62 0.07
Q4 2021 51.90 - 0.15 - 51.90 0.15
Q1 2022 59.09 (20.0 %) 0.17 - 59.09 0.17
Q2 2022 15.12 (56.2 %) 0.04 - 15.12 0.04
Q3 2022 27.51 11.7 % 0.08 - 27.51 0.08
Q4 2022 28.05 (46.0 %) 0.08 14.97 13.08 0.04
2022 129.77 (29.8 %) 0.37 14.97 114.80 0.33


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
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 - - - - - -
Q2 2016 - - - - - -
Q3 2016 - - - - - -
Q4 2016 - - - - - -
Q1 2017 - - - - - -
Q2 2017 - - - - - -
Q3 2017 - - - - - -
Q4 2017 - - - - - -
Q1 2018 - - - - - -
Q2 2018 - - - - - -
Q3 2018 - - - - - -
Q4 2018 - - - - - -
Q1 2019 - - - - - -
Q2 2019 - - - - - -
Q3 2019 - - - - - -
Q4 2019 - - - - - -
Q1 2020 - - - - - -
Q2 2020 - - - - - -
Q3 2020 - - - - - -
Q4 2020 - - - - - -
Q1 2021 272.81 - 102.43 - 75.02 -
Q2 2021 187.46 - 59.91 - 34.39 -
Q3 2021 162.60 - 48.04 - 23.56 -
Q4 2021 202.43 - 65.14 - 41.54 -
Q1 2022 252.95 (7.3 %) 85.41 (16.6 %) 58.11 (22.5 %)
Q2 2022 129.62 (30.9 %) 40.71 (32.0 %) 19.99 (41.9 %)
Q3 2022 168.14 3.4 % 45.11 (6.1 %) 23.00 (2.3 %)
Q4 2022 188.40 (6.9 %) 35.02 (46.2 %) 11.51 (72.3 %)
2022 739.11 (10.4 %) 206.26 (25.1 %) 112.61 (35.5 %)

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
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 - - -
Q2 2016 - - -
Q3 2016 - - -
Q4 2016 - - -
Q1 2017 - - -
Q2 2017 - - -
Q3 2017 - - -
Q4 2017 - - -
Q1 2018 - - -
Q2 2018 - - -
Q3 2018 - - -
Q4 2018 - - -
Q1 2019 - - -
Q2 2019 - - -
Q3 2019 - - -
Q4 2019 - - -
Q1 2020 - - -
Q2 2020 - - -
Q3 2020 - - -
Q4 2020 - - -
Q1 2021 - - -
Q2 2021 - - -
Q3 2021 - - -
Q4 2021 33.39 % 23.00 % 22.40 %
Q1 2022 32.10 % 21.56 % 21.12 %
Q2 2022 32.01 % 22.41 % 20.16 %
Q3 2022 31.39 % 23.30 % 20.40 %
Q4 2022 27.91 % 19.76 % 15.53 %
2022 27.91 % 19.76 % 15.53 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Earnings Per Share before unusual items (Riyal) Book Value (BV)
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 - - - -
Q2 2016 - - - -
Q3 2016 - - - -
Q4 2016 - - - -
Q1 2017 - - - -
Q2 2017 - - - -
Q3 2017 - - - -
Q4 2017 - - - -
Q1 2018 - - - -
Q2 2018 - - - -
Q3 2018 - - - -
Q4 2018 - - - -
Q1 2019 - - - -
Q2 2019 - - - -
Q3 2019 - - - -
Q4 2019 - - - -
Q1 2020 - - - -
Q2 2020 - - - -
Q3 2020 - - - -
Q4 2020 - - - -
Q1 2021 350.00 - - 1.20
Q2 2021 350.00 - - -
Q3 2021 350.00 - - 1.37
Q4 2021 350.00 0.53 0.53 1.09
Q1 2022 350.00 0.49 0.49 1.26
Q2 2022 350.00 0.43 0.43 1.12
Q3 2022 350.00 0.44 0.44 1.19
Q4 2022 350.00 0.37 0.33 1.17

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
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 - - -
Q2 2016 - - -
Q3 2016 - - -
Q4 2016 - - -
Q1 2017 - - -
Q2 2017 - - -
Q3 2017 - - -
Q4 2017 - - -
Q1 2018 - - -
Q2 2018 - - -
Q3 2018 - - -
Q4 2018 - - -
Q1 2019 - - -
Q2 2019 - - -
Q3 2019 - - -
Q4 2019 - - -
Q1 2020 - - -
Q2 2020 - - -
Q3 2020 - - -
Q4 2020 - - -
Q1 2021 - - -
Q2 2021 - - -
Q3 2021 - - -
Q4 2021 - - -
Q1 2022 - - -
Q2 2022 - - -
Q3 2022 - - -
Q4 2022 24.41 27.59 7.70

Business Segments (Million)

Compared With The
Period Branch retail E-COMMERCE Wholesale
Q1 2022 226.56 25.06 1.32
Q2 2022 117.90 8.83 2.89
Q3 2022 153.11 13.74 1.29
Q4 2022 167.46 18.64 2.30

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