Arriyadh Development reports 19% profit slump in 2019

12/03/2020 Argaam Exclusive

Arriyadh Development Co. reported a net profit after zakat and tax of SAR 165.8 million for the fiscal year of 2019, a 19% year-on-year (YoY) decline, the company said in a bourse statement.

 

The profit drop was attributed to lower lease prices on fierce competition, higher general and administrative expenses (G&As) and increased debt provisions.

 

The Saudi company also cited increased depreciation and financing charges due to the application of IFRS 16.



Financials (M)

Item 2018 2019 Change‬
Revenues 282.99 249.70 (11.8 %)
Gross Income 215.36 184.82 (14.2 %)
Operating Income 202.58 154.84 (23.6 %)
Net Income 203.93 142.94 (29.9 %)
Average Shares 177.78 177.78 -
EPS (Riyals) 1.15 0.80 (29.9 %)

Q4 2019 net earnings slid by 34% YoY to SAR 32 million.



Current Quarter Comparison (M)

Compared With The
Item Q4 2018 Q4 2019 Change‬
Revenues 65.85 62.66 (4.8 %)
Gross Income 50.34 47.46 (5.7 %)
Operating Income 47.98 27.61 (42.4 %)
Net Income 48.38 9.16 (81.1 %)
Average Shares 177.78 177.78 -
EPS (Riyals) 0.27 0.05 (81.1 %)

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Share Price

Arriyadh Development Co.
27.20
(0.30) (1.09 %)

Arriyadh Development Co. (ARDCO)

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Financial Ratios
Current
Market Cap (M Riyal) 4,835.62
Enterprise Value (EV) (M) 3,808.41
Shares Outstanding ((M)) 177.78
EPS ( Riyal) (TTM) 2.00
Book Value (BV) ( Riyal) 13.80
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 14.09
P/E (TTM) 13.58
Price/book 1.97
Return on Average Assets (%) (TTM) 13.0
Return on Average Equity (%) (TTM) 15.2
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