Al Hammadi’s net profit falls 21% to SAR 79.4 mln in 9M 2021

11/11/2021 Argaam Exclusive

Al Hammadi Company for Development and Investment reported a net profit after Zakat and tax of SAR 79.4 million for the first nine months of 2021, a decline of 21% from SAR 100.6 million in a prior-year period.

 

The drop in earnings was driven by SAR 8.8 million loss from discontinued operations of Al Hammadi Olaya Hospital, decreased sales of subsidiaries and higher provisions.



Financials (M)

Item 9m 2020 9m 2021 Change‬
Revenues 533.59 670.10 25.6 %
Gross Income 184.35 255.52 38.6 %
Operating Income 84.57 105.97 25.3 %
Net Income 100.61 79.42 (21.1 %)
Average Shares 160.00 160.00 -
EPS (Riyals) 0.63 0.50 (21.1 %)

Q3 2021 net profit after Zakat and tax plunged 90% year-on-year (YoY) to SAR 3.6 million, driven by SAR 36.7 million in loss from the discontinued operations of Al Hammadi Olaya Hospital for the current quarter, and subdued sales of subsidiaries.

 

The company also cited higher provisions for credit loss and increased Zakat expenses.



Current Quarter Comparison (M)

Compared With The
Item Q3 2020 Q3 2021 Change‬
Revenues 207.85 219.92 5.8 %
Gross Income 77.59 88.16 13.6 %
Operating Income 43.13 49.65 15.1 %
Net Income 36.57 3.58 (90.2 %)
Average Shares 160.00 160.00 -
EPS (Riyals) 0.23 0.02 (90.2 %)

On a quarterly basis, net earnings plummeted 91.1%.

 

Total shareholders’ equity (excluding minority interest) increased by 3.2% YoY to SAR 1.72 billion for the nine-month period.

 

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Share Price

Al Hammadi Holding
40.00
0.05 0.13 %

Al Hammadi Holding (ALHAMMADI)

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Financial Ratios
Current
Market Cap (M Riyal) 6,400.00
Enterprise Value (EV) (M) 6,161.92
Shares Outstanding ((M)) 160.00
EPS ( Riyal) (TTM) 2.04
Book Value (BV) ( Riyal) 12.11
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 24.20
P/E (TTM) 19.62
Price/book 3.30
Return on Average Assets (%) (TTM) 12.5
Return on Average Equity (%) (TTM) 17.3
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