Fitaihi posts net loss of SAR 7 mln in FY16

19/01/2017 Argaam Exclusive

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Fitaihi Holding Group (FITAIHI GROUP)

Fitaihi Holding Group swung to a net loss of SAR 7.07 million for fiscal year 2016, compared to a net profit of SAR 40.5 million in 2015, due to lower sales volumes and higher investment losses, along with a decline in other income.

Financials (M)

Item	2015	2016	Change‬
Revenues	263.56	195.36	(25.9 %)
Gross Income	127.41	90.22	(29.2 %)
Operating Income	10.69	(22.81)	(313.5 %)
Net Income	40.56	(18.60)	(145.9 %)
Average Shares	275.00	275.00	-
EPS (Riyals)	0.15	(0.07)	(145.9 %)

In Q4 2016, the jeweler retailer narrowed net losses by 64 percent year-on-year (YoY) to SAR 2 million, due to a higher profit share in associate firms, decline in losses from available-for-sale investments, and reduced general and administrative expenses.

The company also swung to net losses compared to net profit of SAR 3.3 million in Q3 2016.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2015	Q4 2016	Change‬
Revenues	65.89	48.42	(26.5 %)
Gross Income	30.15	18.63	(38.2 %)
Operating Income	(0.01)	(16.69)	(166,810.0 %)
Net Income	(7.49)	(17.85)	(138.4 %)
Average Shares	275.00	275.00	-
EPS (Riyals)	(0.03)	(0.06)	(138.4 %)

Item	Q3 2016	Q4 2016	Change‬
Revenues	37.24	48.42	30.0 %
Gross Income	18.57	18.63	0.3 %
Operating Income	(5.12)	(16.69)	(226.2 %)
Net Income	3.14	(17.85)	(668.1 %)
Average Shares	275.00	275.00	-
EPS (Riyals)	0.01	(0.06)	(668.1 %)

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
Q1 2007	23.29	6.4 %	10.89	30.3 %	0.31	(93.8 %)	0.00
Q2 2007	35.60	14.9 %	14.94	8.4 %	(3.36)	(226.7 %)	(0.01)
Q3 2007	19.78	1.4 %	8.74	(10.6 %)	(1.97)	(1000.5 %)	(0.01)
Q4 2007	40.90	7.3 %	16.21	(2.3 %)	5.85	88.0 %	0.02
2007	119.56	8.2 %	50.78	4.7 %	0.83	(92.5 %)	0.00
Q1 2008	39.03	67.6 %	16.13	48.1 %	8.66	2667.1 %	0.03
Q2 2008	63.88	79.5 %	26.77	79.2 %	13.99	516.5 %	0.05
Q3 2008	51.24	159.0 %	23.13	164.7 %	2.70	236.9 %	0.01
Q4 2008	40.11	(1.9 %)	17.29	6.7 %	(6.18)	(205.6 %)	(0.02)
2008	194.27	62.5 %	83.32	64.1 %	19.18	2210.5 %	0.07
Q1 2009	36.84	(5.6 %)	17.02	5.6 %	6.36	(26.6 %)	0.02
Q2 2009	40.21	(37.1 %)	17.92	(33.1 %)	4.81	(65.6 %)	0.02
Q3 2009	40.72	(20.5 %)	17.90	(22.6 %)	1.59	(41.2 %)	0.01
Q4 2009	34.30	(14.5 %)	15.86	(8.3 %)	(2.44)	60.4 %	(0.01)
2009	152.06	(21.7 %)	68.70	(17.6 %)	10.31	(46.2 %)	0.04
Q1 2010	36.05	(2.1 %)	17.29	1.6 %	12.70	99.8 %	0.05
Q2 2010	36.13	(10.1 %)	17.30	(3.4 %)	2.08	(56.9 %)	0.01
Q3 2010	46.52	14.2 %	21.05	17.6 %	2.48	56.1 %	0.01
Q4 2010	47.47	38.4 %	22.22	40.1 %	4.50	284.0 %	0.02
2010	166.16	9.3 %	77.86	13.3 %	21.75	110.9 %	0.08
Q1 2011	49.57	37.5 %	23.48	35.8 %	13.20	3.9 %	0.05
Q2 2011	61.55	70.4 %	29.59	71.1 %	9.80	372.0 %	0.04
Q3 2011	48.85	5.0 %	26.09	24.0 %	5.34	115.3 %	0.02
Q4 2011	46.85	(1.3 %)	23.60	6.2 %	(74.60)	(1758.4 %)	(0.27)
2011	206.82	24.5 %	102.77	32.0 %	(46.27)	(312.7 %)	(0.17)
Q1 2012	68.09	37.4 %	34.99	49.0 %	17.73	34.4 %	0.06
Q2 2012	61.68	0.2 %	32.63	10.2 %	11.68	19.2 %	0.04
Q3 2012	57.95	18.6 %	29.49	13.0 %	6.44	20.6 %	0.02
Q4 2012	66.28	41.5 %	26.65	12.9 %	(1.77)	97.6 %	(0.01)
2012	254.00	22.8 %	123.75	20.4 %	34.08	173.7 %	0.12
Q1 2013	66.80	(1.9 %)	32.75	(6.4 %)	19.32	8.9 %	0.07
Q2 2013	64.40	4.4 %	35.32	8.2 %	11.86	1.5 %	0.04
Q3 2013	63.50	9.6 %	33.59	13.9 %	5.21	(19.1 %)	0.02
Q4 2013	54.70	(17.5 %)	21.82	(18.1 %)	(0.67)	62.4 %	0.00
2013	249.38	(1.8 %)	123.47	(0.2 %)	35.72	4.8 %	0.13
Q1 2014	74.78	11.9 %	36.69	12.1 %	24.13	24.9 %	0.09
Q2 2014	74.71	16.0 %	36.54	3.5 %	24.45	106.2 %	0.09
Q3 2014	77.36	21.8 %	37.59	11.9 %	12.83	146.4 %	0.05
Q4 2014	71.61	30.9 %	32.08	47.0 %	8.73	1411.3 %	0.03
2014	298.45	19.7 %	142.90	15.7 %	70.15	96.4 %	0.26
Q1 2015	68.94	(7.8 %)	33.65	(8.3 %)	16.79	(30.4 %)	0.06
Q2 2015	72.01	(3.6 %)	35.82	(2.0 %)	21.54	(11.9 %)	0.08
Q3 2015	56.72	(26.7 %)	27.80	(26.0 %)	9.72	(24.3 %)	0.04
Q4 2015	65.89	(8.0 %)	30.15	(6.0 %)	(7.49)	(185.7 %)	(0.03)
2015	263.56	(11.7 %)	127.41	(10.8 %)	40.56	(42.2 %)	0.15
Q1 2016	48.34	(29.9 %)	24.29	(27.8 %)	(30.20)	(279.8 %)	(0.11)
Q2 2016	61.36	(14.8 %)	28.73	(19.8 %)	26.31	22.1 %	0.10
Q3 2016	37.24	(34.3 %)	18.57	(33.2 %)	3.14	(67.7 %)	0.01
Q4 2016	48.42	(26.5 %)	18.63	(38.2 %)	(17.85)	(138.4 %)	(0.06)
2016	195.36	(25.9 %)	90.22	(29.2 %)	(18.60)	(145.9 %)	(0.07)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
2007	119.56	8.2 %	50.78	4.7 %	0.83	(92.5 %)	0.00
2008	194.27	62.5 %	83.32	64.1 %	19.18	2210.5 %	0.07
2009	152.06	(21.7 %)	68.70	(17.6 %)	10.31	(46.2 %)	0.04
2010	166.16	9.3 %	77.86	13.3 %	21.75	110.9 %	0.08
2011	206.82	24.5 %	102.77	32.0 %	(46.27)	(312.7 %)	(0.17)
2012	254.00	22.8 %	123.75	20.4 %	34.08	173.7 %	0.12
2013	249.38	(1.8 %)	123.47	(0.2 %)	35.72	4.8 %	0.13
2014	298.45	19.7 %	142.90	15.7 %	70.15	96.4 %	0.26
2015	263.56	(11.7 %)	127.41	(10.8 %)	40.56	(42.2 %)	0.15
2016	195.36	(25.9 %)	90.22	(29.2 %)	(18.60)	(145.9 %)	(0.07)

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2007	45.62 %	11.95 %	5.63 %
Q2 2007	44.80 %	12.73 %	0.24 %
Q3 2007	43.81 %	10.38 %	(1.63 %)
Q4 2007	42.47 %	(3.29 %)	0.69 %
2007	42.47 %	(3.29 %)	0.69 %
Q1 2008	41.40 %	0.44 %	6.78 %
Q2 2008	41.47 %	5.19 %	16.22 %
Q3 2008	42.16 %	10.46 %	16.00 %
Q4 2008	42.89 %	17.53 %	9.87 %
2008	42.89 %	17.53 %	9.87 %
Q1 2009	43.85 %	17.68 %	8.78 %
Q2 2009	44.75 %	17.73 %	4.57 %
Q3 2009	44.42 %	14.86 %	4.17 %
Q4 2009	45.17 %	14.21 %	6.78 %
2009	45.18 %	14.21 %	6.78 %
Q1 2010	45.59 %	13.99 %	10.04 %
Q2 2010	46.43 %	11.96 %	9.46 %
Q3 2010	46.73 %	12.84 %	9.68 %
Q4 2010	46.86 %	15.75 %	13.09 %
2010	46.86 %	15.75 %	13.09 %
Q1 2011	46.78 %	17.10 %	13.20 %
Q2 2011	46.97 %	18.34 %	14.61 %
Q3 2011	48.87 %	19.12 %	15.83 %
Q4 2011	49.69 %	15.62 %	8.73 %
2011	49.69 %	15.62 %	8.73 %
Q1 2012	50.71 %	17.72 %	10.03 %
Q2 2012	52.03 %	18.71 %	10.86 %
Q3 2012	51.46 %	18.63 %	10.91 %
Q4 2012	48.72 %	20.58 %	15.86 %
2012	48.72 %	20.58 %	15.86 %
Q1 2013	48.08 %	18.62 %	16.57 %
Q2 2013	48.63 %	18.83 %	16.46 %
Q3 2013	49.16 %	18.46 %	15.64 %
Q4 2013	49.51 %	16.17 %	12.06 %
2013	49.51 %	16.17 %	12.06 %
Q1 2014	49.51 %	15.89 %	13.49 %
Q2 2014	48.06 %	14.32 %	12.62 %
Q3 2014	47.12 %	13.07 %	13.81 %
Q4 2014	47.88 %	14.12 %	18.06 %
2014	47.88 %	14.12 %	18.06 %
Q1 2015	47.80 %	13.64 %	15.97 %
Q2 2015	47.99 %	13.73 %	19.78 %
Q3 2015	48.03 %	10.77 %	21.09 %
Q4 2015	48.34 %	9.88 %	19.79 %
2015	48.34 %	9.88 %	19.79 %
Q1 2016	48.59 %	6.73 %	15.43 %
Q2 2016	47.77 %	4.01 %	26.04 %
Q3 2016	47.80 %	4.48 %	26.41 %
Q4 2016	46.18 %	(1.77 %)	17.54 %
2016	46.18 %	(1.77 %)	2.81 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2007	42.47 %	(3.29 %)	0.69 %
2008	42.89 %	17.53 %	9.87 %
2009	45.18 %	14.21 %	6.78 %
2010	46.86 %	15.75 %	13.09 %
2011	49.69 %	15.62 %	8.73 %
2012	48.72 %	20.58 %	15.86 %
2013	49.51 %	16.17 %	12.06 %
2014	47.88 %	14.12 %	18.06 %
2015	48.34 %	9.88 %	19.79 %
2016	46.18 %	(1.77 %)	2.81 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2007	46.75 %	8.90 %	1.34 %
Q2 2007	41.97 %	11.38 %	(9.44 %)
Q3 2007	44.19 %	(1.93 %)	(9.97 %)
Q4 2007	39.64 %	(23.66 %)	14.30 %
Q1 2008	41.32 %	16.90 %	22.19 %
Q2 2008	41.91 %	18.70 %	21.91 %
Q3 2008	45.15 %	22.52 %	5.27 %
Q4 2008	43.10 %	9.89 %	(15.40 %)
Q1 2009	46.22 %	17.64 %	17.25 %
Q2 2009	44.57 %	19.51 %	11.97 %
Q3 2009	43.95 %	12.64 %	3.90 %
Q4 2009	46.22 %	6.19 %	(7.12 %)
Q1 2010	47.96 %	16.81 %	31.17 %
Q2 2010	47.89 %	11.83 %	9.79 %
Q3 2010	45.26 %	15.46 %	5.33 %
Q4 2010	46.81 %	18.22 %	9.48 %
Q1 2011	47.36 %	21.39 %	26.62 %
Q2 2011	48.08 %	18.17 %	15.92 %
Q3 2011	53.41 %	18.90 %	10.92 %
Q4 2011	50.38 %	2.75 %	(21.93 %)
Q1 2012	51.38 %	26.77 %	26.04 %
Q2 2012	52.89 %	21.81 %	18.94 %
Q3 2012	50.89 %	18.53 %	11.11 %
Q4 2012	40.21 %	14.90 %	6.69 %
Q1 2013	49.02 %	19.45 %	28.92 %
Q2 2013	54.84 %	22.51 %	18.41 %
Q3 2013	52.89 %	17.04 %	8.20 %
Q4 2013	39.90 %	3.71 %	(11.53 %)
Q1 2014	49.07 %	18.13 %	32.05 %
Q2 2014	48.92 %	15.96 %	14.61 %
Q3 2014	48.59 %	12.02 %	13.31 %
Q4 2014	44.79 %	10.31 %	12.20 %
Q1 2015	48.81 %	16.39 %	24.36 %
Q2 2015	49.74 %	16.40 %	29.91 %
Q3 2015	49.02 %	(2.66 %)	17.14 %
Q4 2015	45.76 %	6.73 %	6.23 %
Q1 2016	50.24 %	3.36 %	4.39 %
Q2 2016	46.83 %	7.77 %	72.62 %
Q3 2016	49.86 %	(3.44 %)	14.57 %
Q4 2016	38.47 %	(17.68 %)	(36.87 %)

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2007	275.00	0.02	0.02	2.28
Q2 2007	275.00	0.00	0.00	2.26
Q3 2007	275.00	(0.01)	(0.01)	2.26
Q4 2007	275.00	0.00	0.00	2.32
Q1 2008	275.00	0.03	0.03	2.37
Q2 2008	275.00	0.10	0.10	2.40
Q3 2008	275.00	0.11	0.11	2.17
Q4 2008	275.00	0.07	0.07	2.04
Q1 2009	275.00	0.06	0.06	2.12
Q2 2009	275.00	0.03	0.03	2.19
Q3 2009	275.00	0.02	0.02	2.25
Q4 2009	275.00	0.04	0.04	2.22
Q1 2010	275.00	0.06	0.06	2.35
Q2 2010	275.00	0.05	0.05	2.30
Q3 2010	275.00	0.05	0.05	2.37
Q4 2010	275.00	0.08	0.08	2.40
Q1 2011	275.00	0.08	0.09	2.40
Q2 2011	275.00	0.11	0.11	2.39
Q3 2011	275.00	0.12	0.12	2.37
Q4 2011	275.00	(0.17)	0.07	2.31
Q1 2012	275.00	(0.15)	0.08	2.30
Q2 2012	275.00	(0.14)	0.09	2.28
Q3 2012	275.00	(0.14)	0.09	2.39
Q4 2012	275.00	0.12	0.15	2.41
Q1 2013	275.00	0.13	0.15	2.30
Q2 2013	275.00	0.13	0.15	2.33
Q3 2013	275.00	0.13	0.15	2.47
Q4 2013	275.00	0.13	0.11	2.55
Q1 2014	275.00	0.15	0.13	2.56
Q2 2014	275.00	0.19	0.12	2.64
Q3 2014	275.00	0.22	0.14	2.70
Q4 2014	275.00	0.26	0.20	2.74
Q1 2015	275.00	0.23	0.17	2.69
Q2 2015	275.00	0.22	0.21	2.79
Q3 2015	275.00	0.21	0.21	2.78
Q4 2015	275.00	0.15	0.19	2.70
Q1 2016	275.00	(0.02)	0.14	2.38
Q2 2016	275.00	(0.01)	0.22	2.46
Q3 2016	275.00	(0.03)	0.20	2.54
Q4 2016	275.00	(0.07)	0.12	2.48

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2007	275.00	0.00	0.00	2.32
2008	275.00	0.07	0.07	2.04
2009	275.00	0.04	0.04	2.22
2010	275.00	0.08	0.08	2.40
2011	275.00	(0.17)	0.07	2.31
2012	275.00	0.12	0.15	2.41
2013	275.00	0.13	0.11	2.55
2014	275.00	0.26	0.20	2.74
2015	275.00	0.15	0.19	2.70
2016	275.00	(0.07)	0.02	2.48

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2007	More than 100	More than 100	1.27
Q2 2007	More than 100	More than 100	1.40
Q3 2007	NEG	NEG	2.43
Q4 2007	More than 100	More than 100	2.37
Q1 2008	83.93	83.93	1.18
Q2 2008	32.09	32.09	1.29
Q3 2008	19.37	19.37	1.01
Q4 2008	23.42	23.42	0.80
Q1 2009	28.00	28.00	0.81
Q2 2009	More than 100	More than 100	1.55
Q3 2009	More than 100	More than 100	1.27
Q4 2009	61.07	61.07	1.03
Q1 2010	35.79	39.23	0.92
Q2 2010	38.39	38.39	0.85
Q3 2010	33.77	33.77	0.77
Q4 2010	24.07	24.07	0.79
Q1 2011	21.15	19.85	0.71
Q2 2011	17.69	17.69	0.81
Q3 2011	15.49	15.49	0.78
Q4 2011	NEG	32.05	0.91
Q1 2012	NEG	42.48	1.52
Q2 2012	NEG	24.87	0.97
Q3 2012	NEG	29.56	1.15
Q4 2012	20.54	17.38	1.06
Q1 2013	20.35	17.33	1.15
Q2 2013	19.79	16.87	1.11
Q3 2013	20.97	17.78	1.07
Q4 2013	21.90	26.00	1.12
Q1 2014	21.84	25.49	1.26
Q2 2014	19.69	30.97	1.44
Q3 2014	19.40	30.32	1.59
Q4 2014	13.87	18.04	1.29
Q1 2015	18.14	24.38	1.54
Q2 2015	19.35	20.21	1.51
Q3 2015	15.01	15.01	1.11
Q4 2015	17.35	13.50	0.95
Q1 2016	NEG	17.84	1.02
Q2 2016	NEG	12.36	1.11
Q3 2016	NEG	8.95	0.72
Q4 2016	NEG	17.98	0.90

Period	P/E	Adjusted P/E	Price/book
2007	More than 100	More than 100	2.37
2008	23.42	23.42	0.80
2009	61.07	61.07	1.03
2010	24.07	24.07	0.79
2011	NEG	32.05	0.91
2012	20.54	17.38	1.06
2013	21.90	26.00	1.12
2014	13.87	18.04	1.29
2015	17.35	13.50	0.95
2016	NEG	More than 100	0.90

Business Segments (Million)

Compared With The

Period	Business Activities	Investment activity

Period	Business Activities	Investment activity
2007	119.56	19.52
2008	194.27	4.27
2009	152.06	6.82
2010	166.16	12.66
2011	206.82	5.64
2012	254.00	8.93
2013	249.38	12.25
2014	298.45	49.36
2015	263.56	38.30
2016	195.36	10.68

Financial Ratios

	Current
Market Cap (M Riyal)	1,119.25
Enterprise Value (EV) (M)	1,116.66
Shares Outstanding ((M))	275.00
EPS ( Riyal) (TTM)	0.01
Book Value (BV) ( Riyal)	1.57
Par Value ( Riyal)	1.00
Adjusted P/E (Last12)	More than 100
P/E (TTM)	More than 100
Price/book	2.59
Return on Average Assets (%) (TTM)	0.3
Return on Average Equity (%) (TTM)	0.4

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Fitaihi posts net loss of SAR 7 mln in FY16

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Share Price

Fitaihi Holding Group (FITAIHI GROUP)

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Current Quarter Comparison (M)

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Financial results (Million)

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Profitability

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Ratios And Multiples

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Fitaihi posts net loss of SAR 7 mln in FY16

View other reports

Share Price

Fitaihi Holding Group (FITAIHI GROUP)

Financials (M)

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) 2016

Revenue by Business Segment (Latest) 2016 Q4

Financial Ratios

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Business Segments (Million)