AlBaha shrinks H1 2019 losses by 96%

21/08/2019 Argaam Exclusive

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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 217.85 217.85 -
Earnings Per Share before unusual items (Riyals) 0.00 0.00 (184.2 %)
EPS (Riyals) (0.05) 0.00 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 217.85 217.85 -
Earnings Per Share before unusual items (Riyals) 0.00 0.00 (10.8 %)
EPS (Riyals) (0.06) 0.00 100.7 %

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Share Price

Al-Baha Investment and Development Co.
3.10
(0.03) (0.96 %)

Al-Baha Investment and Development Co. (ALBAHA)

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Financial Ratios
Current
Market Cap (M Riyal) 6,832.63
Enterprise Value (EV) (M) 6,832.24
Shares Outstanding ((M)) 2,182.95
EPS ( Riyal) (TTM) 0.04
Book Value (BV) ( Riyal) 1.02
Par Value ( Riyal) 1.00
Adjusted P/E (Last12) More than 100
P/E (TTM) More than 100
Price/book 30.63
Return on Average Assets (%) (TTM) 3.2
Return on Average Equity (%) (TTM) 3.4
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Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2010 - - - - (3.78) (198.2 %)
Q2 2010 - - - - (1.50) 0.3 %
Q3 2010 0.16 (35.3 %) (0.81) (11.9 %) (0.97) (5.2 %)
Q4 2010 - - (0.31) 25.9 % (2.27) (51.9 %)
Q1 2011 - - - - (1.86) 50.8 %
Q2 2011 - - - - (1.60) (6.4 %)
Q3 2011 0.16 3.2 % (1.08) (33.6 %) (3.58) (270.2 %)
Q4 2011 - - (0.29) 5.8 % (1.56) 31.1 %
Q1 2012 - - - - (1.18) 36.5 %
Q2 2012 - - - - (1.46) 9.0 %
Q3 2012 0.11 (34.8 %) (0.82) 24.5 % (1.16) 67.6 %
Q4 2012 - - (0.31) (6.1 %) (1.38) 11.5 %
Q1 2013 - - - - (1.24) (5.3 %)
Q2 2013 - - - - (1.07) 26.8 %
Q3 2013 - - (0.24) 71.0 % (1.05) 9.7 %
Q4 2013 - - - - (6.13) (343.8 %)
Q1 2014 - - - - (1.11) 10.5 %
Q2 2014 - - - - (1.16) (8.9 %)
Q3 2014 - - - - (0.86) 18.4 %
Q4 2014 - - - - (0.88) 85.6 %
Q1 2015 0.41 - 0.15 - 0.04 103.4 %
Q2 2015 0.62 - 0.13 - 0.01 100.6 %
Q3 2015 1.63 - 0.10 - 0.01 100.6 %
Q4 2015 2.86 - 0.23 - 0.02 102.1 %
Q1 2016 1.68 308.5 % 0.13 (17.8 %) 0.01 (76.3 %)
Q2 2016 1.51 143.9 % 0.14 7.0 % 0.01 (14.3 %)
Q3 2016 2.88 77.1 % 0.18 81.4 % 0.01 20.0 %
Q4 2016 2.81 (2.0 %) 0.17 (26.0 %) (0.15) (894.7 %)
Q1 2017 2.21 31.4 % 0.15 17.6 % 0.01 (33.3 %)
Q2 2017 0.57 (62.1 %) 0.57 314.5 % (0.31) (5216.7 %)
Q3 2017 0.36 (87.6 %) 0.36 103.4 % (0.24) (4083.3 %)
Q4 2017 4.23 50.8 % 1.61 843.9 % 0.28 288.1 %
Q1 2018 3.01 36.2 % 1.39 845.6 % 0.75 12366.7 %
Q2 2018 2.87 401.9 % 1.56 173.4 % 0.86 380.1 %
Q3 2018 2.29 540.8 % 1.04 190.5 % 0.38 259.4 %
Q4 2018 1.50 (64.5 %) 0.80 (50.3 %) 0.24 (15.5 %)
Q1 2019 2.40 (20.3 %) 1.33 (4.5 %) 0.58 (22.3 %)
Q2 2019 2.45 (14.6 %) 1.40 (10.4 %) 0.58 (32.6 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items Earnings Per Share before unusual items
Q1 2010 (3.77) (204.9 %) (0.02) - (3.77) (0.02)
Q2 2010 (1.48) 0.9 % (0.01) - (1.48) (0.01)
Q3 2010 (0.97) (6.2 %) (0.01) - (0.97) (0.01)
Q4 2010 (0.20) 78.0 % 0.00 - (0.20) 0.00
Q1 2011 (1.86) 50.7 % (0.01) - (1.86) (0.01)
Q2 2011 (1.60) (7.9 %) (0.01) - (1.60) (0.01)
Q3 2011 (3.96) (307.3 %) (0.02) - (3.96) (0.02)
Q4 2011 1.67 931.8 % 0.01 - 1.67 0.01
Q1 2012 (1.18) 36.5 % (0.01) - (1.18) (0.01)
Q2 2012 (1.46) 8.9 % (0.01) - (1.46) (0.01)
Q3 2012 (1.54) 61.2 % (0.01) - (1.54) (0.01)
Q4 2012 (1.29) (177.2 %) (0.01) - (1.29) (0.01)
Q1 2013 (69.94) (5,832.2 %) (0.38) (68.70) (1.24) (0.01)
Q2 2013 (1.07) 26.8 % (0.01) - (1.07) (0.01)
Q3 2013 (1.42) 7.3 % (0.01) - (1.42) (0.01)
Q4 2013 (5.85) (353.2 %) (0.03) - (5.85) (0.03)
Q1 2014 (1.11) 98.4 % (0.01) - (1.11) (0.01)
Q2 2014 (1.16) (8.9 %) (0.01) - (1.16) (0.01)
Q3 2014 (0.95) 33.4 % (0.01) - (0.95) (0.01)
Q4 2014 (0.88) 84.9 % 0.00 - (0.88) 0.00
Q1 2015 0.04 103.4 % 0.00 - 0.04 0.00
Q2 2015 0.01 100.6 % 0.00 - 0.01 0.00
Q3 2015 0.01 100.5 % 0.00 - 0.01 0.00
Q4 2015 0.02 101.9 % 0.00 - 0.02 0.00
Q1 2016 0.01 (76.3 %) 0.00 - 0.01 0.00
Q2 2016 0.01 (14.3 %) 0.00 - 0.01 0.00
Q3 2016 0.01 20.0 % 0.00 - 0.01 0.00
Q4 2016 (0.15) (994.1 %) 0.00 - (0.15) 0.00
Q1 2017 0.01 (33.3 %) 0.00 - 0.01 0.00
Q2 2017 (0.33) (5550.0 %) 0.00 (2.12) 1.79 0.01
Q3 2017 (0.26) (4416.7 %) 0.00 - (0.26) 0.00
Q4 2017 4.57 3105.3 % 0.02 2.12 2.45 0.01
Q1 2018 0.61 10000.0 % 0.00 - 0.61 0.00
Q2 2018 (12.19) (3,627.8 %) (0.06) (12.29) 0.10 0.00
Q3 2018 0.28 206.6 % 0.00 - 0.28 0.00
Q4 2018 (0.02) (100.4 %) 0.00 - (0.02) 0.00
Q1 2019 (0.69) (213.4 %) 0.00 - (0.69) 0.00
Q2 2019 0.09 100.7 % 0.00 - 0.09 0.00

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 %)
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 %)
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 %)
Q1 2013 (1074.29 %) (2924.76 %) (5261.90 %)
Q2 2013 (1074.29 %) (2573.33 %) (4889.52 %)
Q3 2013 - - -
Q4 2013 - - -
Q1 2014 - - -
Q2 2014 - - -
Q3 2014 - - -
Q4 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 %
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 %)
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 %
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 %
Q1 2019 52.20 % 43.69 % (3.61 %)
Q2 2019 52.84 % 54.86 % (3.91 %)


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Earnings Per Share before unusual items (Riyal) Book Value (BV)
Q1 2010 184.62 (0.04) (0.04) 0.53
Q2 2010 184.62 (0.04) (0.04) 0.52
Q3 2010 184.62 (0.04) (0.04) 0.51
Q4 2010 184.62 (0.03) (0.03) 0.51
Q1 2011 184.62 (0.02) (0.02) 0.50
Q2 2011 184.62 (0.03) (0.03) 0.49
Q3 2011 184.62 (0.04) (0.04) 0.47
Q4 2011 184.62 (0.03) (0.03) 0.48
Q1 2012 184.62 (0.03) (0.03) 0.47
Q2 2012 184.62 (0.03) (0.03) 0.46
Q3 2012 184.62 (0.01) (0.01) 0.46
Q4 2012 184.62 (0.03) (0.03) 0.45
Q1 2013 184.62 (0.40) (0.03) 0.09
Q2 2013 184.62 (0.40) (0.03) 0.08
Q3 2013 184.62 (0.40) (0.03) 0.07
Q4 2013 184.62 (0.42) (0.05) 0.04
Q1 2014 184.62 (0.05) (0.05) 0.04
Q2 2014 184.62 (0.05) (0.05) 0.03
Q3 2014 184.62 (0.05) (0.05) 0.03
Q4 2014 184.62 (0.02) (0.02) 0.02
Q1 2015 184.62 (0.02) (0.02) 0.02
Q2 2015 184.62 (0.01) (0.01) 0.02
Q3 2015 184.62 0.00 0.00 0.02
Q4 2015 184.62 0.00 0.00 0.02
Q1 2016 184.62 0.00 0.00 0.02
Q2 2016 184.62 0.00 0.00 0.02
Q3 2016 184.62 0.00 0.00 0.02
Q4 2016 184.62 0.00 0.00 0.02
Q1 2017 209.55 0.00 0.00 0.02
Q2 2017 209.55 0.00 0.01 0.68
Q3 2017 209.55 0.00 0.01 0.68
Q4 2017 209.55 0.02 0.02 0.70
Q1 2018 217.85 0.02 0.02 0.70
Q2 2018 217.85 (0.03) 0.01 0.65
Q3 2018 217.85 (0.03) 0.02 0.65
Q4 2018 217.85 (0.05) 0.00 0.65
Q1 2019 217.85 (0.06) 0.00 0.65
Q2 2019 217.85 0.00 0.00 0.65

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2010 NEG NEG 6.24
Q2 2010 NEG NEG 5.16
Q3 2010 NEG NEG 4.99
Q4 2010 NEG NEG 4.68
Q1 2011 NEG NEG 5.24
Q2 2011 NEG NEG 5.82
Q3 2011 NEG NEG 7.59
Q4 2011 NEG NEG 7.06
Q1 2012 NEG NEG 9.92
Q2 2012 NEG NEG 6.86
Q3 2012 NEG NEG 7.92
Q4 2012 NEG NEG 7.68
Q1 2013 NEG NEG 29.62
Q2 2013 NEG NEG 31.57
Q3 2013 NEG NEG 34.83
Q4 2013 NEG NEG 60.58
Q1 2014 NEG NEG 70.42
Q2 2014 NEG NEG 84.79
Q3 2014 NEG NEG 101.79
Q4 2014 NEG NEG 124.78
Q1 2015 NEG NEG 123.56
Q2 2015 NEG NEG 123.41
Q3 2015 NEG NEG 123.19
Q4 2015 More than 100 More than 100 122.62
Q1 2016 More than 100 More than 100 122.34
Q2 2016 More than 100 More than 100 122.15
Q3 2016 More than 100 More than 100 121.97
Q4 2016 NEG NEG 121.75
Q1 2017 NEG NEG 121.57
Q2 2017 NEG More than 100 2.74
Q3 2017 NEG More than 100 4.13
Q4 2017 More than 100 More than 100 3.34
Q1 2018 99.49 99.49 2.97
Q2 2018 NEG More than 100 3.11
Q3 2018 NEG 94.00 2.28
Q4 2018 NEG More than 100 3.59
Q1 2019 NEG NEG 3.26
Q2 2019 NEG NEG 3.01

Business Segments (Million)

Compared With The
Period Rents
Q1 2019 2.40
Q2 2019 2.45

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