Al-Khodari reports SAR 119 mln net loss in FY16

19/01/2017 Argaam Exclusive

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Abdullah A. M. Al-Khodari Sons Co. (Al-Khodari) reported a net loss of SAR 119.1 million for fiscal year 2016, versus net profit of SAR 33.5 million in the previous year, due to a 34 percent fall in revenue, a 145 percent plunge in gross profit, and an 11.2 percent increase in financial charges.



Financials (M)

Item 2015 2016 Change‬
Revenues 1,569.94 1,060.03 (32.5 %)
Gross Income 117.98 (24.96) (121.2 %)
Operating Income 34.71 (78.78) (326.9 %)
Net Income 33.36 (119.34) (457.7 %)
Average Shares 55.78 55.78 -
EPS (Riyals) 0.60 (2.14) (457.7 %)

The Saudi company expanded net losses to SAR 32.1 million in Q4 2016, compared to net losses of SAR 1.03 million in the same period last year.

 

This was attributed to a 48 percent drop in revenue due to slow progress on ongoing projects and a decline in new project awards, amid a wider slowdown in the construction sector. The builder also cited a 147.2 percent slump in gross profit, higher financing charges, increased zakat income, and a decline in other income. 



Current Quarter Comparison (M)

Compared With The
Item Q4 2015 Q4 2016 Change‬
Revenues 385.40 225.06 (41.6 %)
Gross Income 14.51 19.72 35.9 %
Operating Income (3.80) 6.53 271.8 %
Net Income (1.04) 24.23 2438.5 %
Average Shares 55.78 55.78 -
EPS (Riyals) (0.02) 0.43 2438.5 %


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2007 - - - - - -
Q2 2007 - - - - - -
Q3 2007 - - - - - -
Q4 2007 - - - - - -
Q1 2008 - - - - - -
Q2 2008 - - - - - -
Q3 2008 - - - - - -
Q4 2008 - - - - - -
Q1 2009 - - - - - -
Q2 2009 537.51 - 151.43 - 121.62 -
Q3 2009 - - - - - -
Q4 2009 - - - - - -
Q1 2010 213.10 - 56.13 - 40.65 -
Q2 2010 254.92 (52.6 %) 66.10 (56.4 %) 53.25 (56.2 %)
Q3 2010 240.04 - 50.40 - 38.70 -
Q4 2010 365.89 - 116.43 - 97.76 -
Q1 2011 244.57 14.8 % 56.00 (0.2 %) 40.19 (1.1 %)
Q2 2011 269.95 5.9 % 59.82 (9.5 %) 45.68 (14.2 %)
Q3 2011 271.65 13.2 % 53.69 6.5 % 25.87 (33.2 %)
Q4 2011 360.29 (1.5 %) 68.10 (41.5 %) 44.22 (54.8 %)
Q1 2012 396.72 62.2 % 68.31 22.0 % 45.71 13.7 %
Q2 2012 410.37 52.0 % 71.73 19.9 % 48.34 5.8 %
Q3 2012 343.74 26.5 % 46.95 (12.6 %) 28.15 8.8 %
Q4 2012 372.99 3.5 % 38.50 (43.5 %) 14.00 (68.3 %)
Q1 2013 343.52 (13.4 %) 45.77 (33.0 %) 23.80 (47.9 %)
Q2 2013 412.57 0.5 % 56.24 (21.6 %) 32.53 (32.7 %)
Q3 2013 386.57 12.5 % 45.77 (2.5 %) 19.72 (29.9 %)
Q4 2013 387.67 3.9 % 42.55 10.5 % 21.41 52.9 %
Q1 2014 473.86 37.9 % 22.89 (50.0 %) 1.02 (95.7 %)
Q2 2014 405.86 (1.6 %) 37.73 (32.9 %) 17.20 (47.1 %)
Q3 2014 408.09 5.6 % 42.97 (6.1 %) 23.66 20.0 %
Q4 2014 449.50 15.9 % 49.11 15.4 % 22.15 3.5 %
Q1 2015 444.73 (6.1 %) 47.59 107.9 % 26.77 2529.4 %
Q2 2015 403.24 (0.6 %) 42.16 11.7 % 20.97 21.9 %
Q3 2015 336.57 (17.5 %) 13.71 (68.1 %) (9.22) (139.0 %)
Q4 2015 385.40 (14.3 %) 14.51 (70.4 %) (3.80) (117.2 %)
Q1 2016 390.33 (12.2 %) 29.08 (38.9 %) 13.93 (48.0 %)
Q2 2016 254.47 (36.9 %) (38.56) (191.5 %) (50.96) (343.1 %)
Q3 2016 190.17 (43.5 %) (35.21) (356.8 %) (48.28) (423.7 %)
Q4 2016 225.06 (41.6 %) 19.72 35.9 % 6.53 271.8 %
2016 1,060.03 (32.5 %) (24.96) (121.2 %) (78.78) (326.9 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2007 - - - - - -
Q2 2007 - - - - - -
Q3 2007 - - - - - -
Q4 2007 - - - - - -
Q1 2008 - - - - - -
Q2 2008 - - - - - -
Q3 2008 - - - - - -
Q4 2008 - - - - - -
Q1 2009 - - - - - -
Q2 2009 111.26 - 1.99 - 111.26 1.99
Q3 2009 - - - - - -
Q4 2009 - - - - - -
Q1 2010 38.60 - 0.69 - 38.60 0.69
Q2 2010 50.81 (54.3 %) 0.91 - 50.81 0.91
Q3 2010 41.76 - 0.75 - 41.76 0.75
Q4 2010 86.75 - 1.56 - 86.75 1.56
Q1 2011 39.22 1.6 % 0.70 - 39.22 0.70
Q2 2011 42.66 (16.0 %) 0.76 - 42.66 0.76
Q3 2011 21.79 (47.8 %) 0.39 - 21.79 0.39
Q4 2011 54.45 (37.2 %) 0.98 20.48 33.97 0.61
Q1 2012 41.81 6.6 % 0.75 - 41.81 0.75
Q2 2012 44.48 4.3 % 0.80 - 44.48 0.80
Q3 2012 21.89 0.5 % 0.39 - 21.89 0.39
Q4 2012 26.82 (50.7 %) 0.48 27.56 (0.74) (0.01)
Q1 2013 18.28 (56.3 %) 0.33 - 18.28 0.33
Q2 2013 25.38 (42.9 %) 0.46 - 25.38 0.46
Q3 2013 12.19 (44.3 %) 0.22 - 12.19 0.22
Q4 2013 8.47 (68.4 %) 0.15 - 8.47 0.15
Q1 2014 32.63 78.5 % 0.58 40.72 (8.09) (0.15)
Q2 2014 7.91 (68.8 %) 0.14 - 7.91 0.14
Q3 2014 15.00 23.1 % 0.27 0.00 15.00 0.27
Q4 2014 45.64 438.8 % 0.82 30.48 15.16 0.27
Q1 2015 13.98 (57.2 %) 0.25 0.02 13.96 0.25
Q2 2015 34.86 340.8 % 0.62 25.39 9.47 0.17
Q3 2015 (14.28) (195.2 %) (0.26) 1.70 (15.98) (0.29)
Q4 2015 (1.04) (102.3 %) (0.02) 13.96 (15.00) (0.27)
Q1 2016 2.19 (84.3 %) 0.04 11.13 (8.94) (0.16)
Q2 2016 (56.23) (261.3 %) (1.01) 13.35 (69.58) (1.25)
Q3 2016 (54.42) (281.0 %) (0.98) 10.63 (65.05) (1.17)
Q4 2016 24.23 2438.5 % 0.43 4.25 19.98 0.36
2016 (119.34) (457.7 %) (2.14) 39.36 (158.70) (2.85)

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2007 - - -
Q2 2007 - - -
Q3 2007 - - -
Q4 2007 - - -
Q1 2008 - - -
Q2 2008 - - -
Q3 2008 - - -
Q4 2008 - - -
Q1 2009 - - -
Q2 2009 - - -
Q3 2009 - - -
Q4 2009 - - -
Q1 2010 - - -
Q2 2010 - - -
Q3 2010 - - -
Q4 2010 26.92 % 32.08 % 20.29 %
Q1 2011 26.14 % 30.58 % 19.77 %
Q2 2011 25.23 % 29.71 % 18.78 %
Q3 2011 24.82 % 28.25 % 16.53 %
Q4 2011 20.73 % 23.91 % 12.01 %
Q1 2012 19.25 % 21.99 % 10.80 %
Q2 2012 18.19 % 20.66 % 9.87 %
Q3 2012 16.88 % 20.01 % 9.41 %
Q4 2012 14.80 % 18.00 % 7.05 %
Q1 2013 13.80 % 17.19 % 5.71 %
Q2 2013 12.73 % 15.91 % 4.40 %
Q3 2013 12.29 % 15.18 % 3.64 %
Q4 2013 12.44 % 15.86 % 4.20 %
Q1 2014 10.08 % 13.91 % 2.29 %
Q2 2014 9.01 % 13.90 % 1.24 %
Q3 2014 8.72 % 14.64 % 1.39 %
Q4 2014 8.79 % 15.54 % 1.73 %
Q1 2015 10.39 % 17.31 % 3.05 %
Q2 2015 10.66 % 16.98 % 3.14 %
Q3 2015 9.34 % 15.08 % 1.38 %
Q4 2015 7.51 % 12.39 % (0.48 %)
Q1 2016 6.56 % 11.98 % (2.01 %)
Q2 2016 1.37 % 8.24 % (8.01 %)
Q3 2016 (2.47 %) 5.87 % (12.99 %)
Q4 2016 (2.35 %) 7.33 % (11.66 %)
2016 (2.35 %) 7.33 % (14.97 %)


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2007 - - - -
Q2 2007 - - - -
Q3 2007 - - - -
Q4 2007 55.78 - - 5.69
Q1 2008 - - - -
Q2 2008 - - - -
Q3 2008 - - - -
Q4 2008 55.78 - - 6.23
Q1 2009 - - - -
Q2 2009 55.78 - - 8.23
Q3 2009 - - - -
Q4 2009 55.78 - - 9.08
Q1 2010 55.78 - - 9.77
Q2 2010 55.78 - - 9.23
Q3 2010 55.78 - - 9.98
Q4 2010 55.78 3.91 3.91 10.54
Q1 2011 55.78 3.92 3.92 11.25
Q2 2011 55.78 3.77 3.77 11.25
Q3 2011 55.78 3.41 3.41 10.88
Q4 2011 55.78 2.83 2.47 11.83
Q1 2012 55.78 2.88 2.51 12.58
Q2 2012 55.78 2.91 2.55 13.00
Q3 2012 55.78 2.92 2.55 13.39
Q4 2012 55.78 2.42 1.93 13.85
Q1 2013 55.78 2.00 1.50 14.18
Q2 2013 55.78 1.66 1.16 14.16
Q3 2013 55.78 1.48 0.99 14.38
Q4 2013 55.78 1.15 1.15 14.53
Q1 2014 55.78 1.41 0.68 15.13
Q2 2014 55.78 1.10 0.37 14.80
Q3 2014 55.78 1.15 0.42 15.07
Q4 2014 55.78 1.81 0.54 15.84
Q1 2015 55.78 1.48 0.93 16.09
Q2 2015 55.78 1.96 0.96 16.24
Q3 2015 55.78 1.44 0.41 15.99
Q4 2015 55.78 0.60 (0.14) 15.94
Q1 2016 55.78 0.39 (0.55) 15.22
Q2 2016 55.78 (1.24) (1.96) 14.21
Q3 2016 55.78 (1.96) (2.84) 13.23
Q4 2016 55.78 (1.51) (2.22) 13.01

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2007 - - -
Q2 2007 - - -
Q3 2007 - - -
Q4 2007 - - -
Q1 2008 - - -
Q2 2008 - - -
Q3 2008 - - -
Q4 2008 - - -
Q1 2009 - - -
Q2 2009 - - -
Q3 2009 - - -
Q4 2009 - - -
Q1 2010 - - -
Q2 2010 - - -
Q3 2010 - - -
Q4 2010 10.48 10.48 3.88
Q1 2011 12.49 12.49 4.35
Q2 2011 14.19 14.19 4.76
Q3 2011 14.23 14.23 4.46
Q4 2011 14.45 16.60 3.46
Q1 2012 14.55 16.67 3.33
Q2 2012 9.58 10.96 2.15
Q3 2012 10.45 11.96 2.28
Q4 2012 10.15 12.76 1.77
Q1 2013 13.35 17.73 1.88
Q2 2013 19.61 27.95 2.29
Q3 2013 25.13 37.69 2.59
Q4 2013 27.17 27.17 2.16
Q1 2014 24.51 50.81 2.28
Q2 2014 39.12 More than 100 2.90
Q3 2014 52.37 More than 100 3.99
Q4 2014 16.05 54.18 1.84
Q1 2015 18.86 29.91 1.73
Q2 2015 13.60 27.78 1.64
Q3 2015 13.16 46.70 1.18
Q4 2015 25.40 NEG 0.96
Q1 2016 27.67 NEG 0.71
Q2 2016 NEG NEG 0.82
Q3 2016 NEG NEG 0.61
Q4 2016 NEG NEG 1.01

Business Segments (Million)

Compared With The
Period Industrial sector Trade sector
Q1 2010 190.35 22.76
Q2 2010 233.71 21.20
Q3 2010 227.93 12.11
Q4 2010 285.37 80.52
Q1 2011 243.21 1.36
Q2 2011 267.41 2.55
Q3 2011 269.50 2.15
Q4 2011 348.03 12.27
Q1 2012 395.46 1.26
Q2 2012 410.02 0.35
Q3 2012 341.44 2.30
Q4 2012 371.64 1.34
Q1 2013 342.16 1.35
Q2 2013 410.17 2.40
Q3 2013 380.96 5.61
Q4 2013 385.92 1.75
Q1 2014 471.67 2.19
Q2 2014 404.05 1.81
Q3 2014 406.13 1.96
Q4 2014 446.72 2.78
Q1 2015 442.85 1.88
Q2 2015 400.34 2.90
Q3 2015 332.13 4.43
Q4 2015 383.39 2.01
Q1 2016 388.32 2.01
Q2 2016 253.34 1.13
Q3 2016 189.26 0.91
Q4 2016 223.96 1.11

Current
Market Cap (M Riyal) 300.65
Enterprise Value (EV) (M) 1,269.09
Shares Outstanding ((M)) 55.78
EPS ( Riyal) (TTM) (28.91)
Book Value (BV) ( Riyal) (21.33)
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 0.00
P/E (TTM) 0.00
Price/book (0.25)
Return on Average Assets (%) (TTM) (92.33 )
Return on Average Equity (%) (TTM) -

Share Price


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