Alandalus Property’s H1 2022 profit down 8% to SAR 35.3 mln; Q2 at SAR 15.5 mln

14/08/2022 Argaam Exclusive

Alandalus Property Co. posted an 8% decline in H1 2022 net profit after Zakat and tax to SAR 35.3 million, from SAR 38.2 million in the year-ago period.



Financials (M)

Item 6m 2021 6m 2022 Change‬
Revenues 102.91 107.39 4.4 %
Gross Income 69.13 74.18 7.3 %
Operating Income 47.24 50.47 6.8 %
Net Income 38.19 35.25 (7.7 %)
Average Shares 93.33 93.33 0.0 %
EPS (Riyals) 0.41 0.38 (7.7 %)

The profit decline was attributed to lower share of income from associates and higher general and administrative, as well as Zakat, expenses along with lower other income.

 

This came despite the increase in gross revenue and gross profit.



Current Quarter Comparison (M)

Compared With The
Item Q2 2021 Q2 2022 Change‬
Revenues 52.36 54.09 3.3 %
Gross Income 35.52 37.50 5.6 %
Operating Income 23.82 23.93 0.4 %
Net Income 19.23 15.47 (19.6 %)
Average Shares 93.33 93.33 0.0 %
EPS (Riyals) 0.21 0.17 (19.6 %)

In the three-month period, net profit after Zakat and tax fell almost 20% to SAR 15.5 million, from SAR 19.2 million in Q2 2021.

 

On a quarterly basis, the second-quarter net profit dropped 22% from SAR 19.8 million.

 

Total shareholders’ equity, after minority interest, increased to SAR 1.075 billion as of June 30, 2022, compared to SAR 1.056 billion a year earlier.

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Share Price

Alandalus Property Co.
24.26
(0.36) (1.46 %)

Alandalus Property Co. (ALANDALUS)

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Financial Ratios
Current
Market Cap (M Riyal) 2,264.19
Enterprise Value (EV) (M) 3,156.27
Shares Outstanding ((M)) 93.33
EPS ( Riyal) (TTM) (0.13)
Book Value (BV) ( Riyal) 11.07
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 2.19
Return on Average Assets (%) (TTM) (0.55 )
Return on Average Equity (%) (TTM) (1.18 )
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