Alandalus Property net profit rises 5% in 9M 2016
18/10/2016
Argaam Exclusive
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Alandalus Property Co.’s net income gained 4.7 percent to SAR 75.8 million in the first nine month of 2016 year-on-year. The developer attributed the increase to rise in rent revenues and income from investment in associate companies.
Financials (M)
| Item | 9m 2015 | 9m 2016 | Change |
|---|---|---|---|
| Revenues | 94.36 | 98.05 | 3.9 % |
| Gross Income | 58.42 | 60.98 | 4.4 % |
| Operating Income | 51.90 | 51.71 | (0.4 %) |
| Net Income | 72.39 | 76.02 | 5.0 % |
| Average Shares | 93.33 | 93.33 | - |
| EPS (Riyals) | 0.78 | 0.81 | 5.0 % |
Third quarter net profit rose 8.6 percent year- on-year to SAR 26.3 million due to higher rent as well as a decline in financing cost and zakat provision. Compared to the previous quarter, profit for the period gained 5.8 percent from SAR 24.8 million.
Compared With The
Current Quarter Comparison (M)
| Item | Q3 2015 | Q3 2016 | Change |
|---|---|---|---|
| Revenues | 33.06 | 34.30 | 3.8 % |
| Gross Income | 19.76 | 20.97 | 6.1 % |
| Operating Income | 17.09 | 17.64 | 3.2 % |
| Net Income | 24.18 | 26.37 | 9.1 % |
| Average Shares | 93.33 | 93.33 | - |
| EPS (Riyals) | 0.26 | 0.28 | 9.1 % |
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| Q1 2016 | 31.69 | 7.1 % | 19.84 | 8.8 % | 16.93 | 4.0 % |
| Q2 2016 | 32.06 | 1.1 % | 20.17 | (1.2 %) | 17.15 | (7.5 %) |
| Q3 2016 | 34.30 | 3.8 % | 20.97 | 6.1 % | 17.64 | 3.2 % |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS Before XO Items |
|---|---|---|---|---|---|---|
| Q1 2016 | 24.80 | 5.3 % | 0.27 | - | 24.80 | 0.27 |
| Q2 2016 | 24.85 | 0.8 % | 0.27 | - | 24.85 | 0.27 |
| Q3 2016 | 26.37 | 9.1 % | 0.28 | - | 26.37 | 0.28 |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| Q1 2016 | 59.52 % | 61.03 % | 73.99 % |
| Q2 2016 | 59.17 % | 59.81 % | 73.93 % |
| Q3 2016 | 59.53 % | 59.73 % | 74.91 % |
Compared With The
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| Q1 2016 | 93.33 | 1.02 | 1.02 | 9.19 |
| Q2 2016 | 93.33 | 1.02 | 1.02 | 9.08 |
| Q3 2016 | 93.33 | 1.05 | 1.05 | 9.37 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| Q1 2016 | 15.43 | 15.43 | 1.71 |
| Q2 2016 | 14.79 | 14.79 | 1.67 |
| Q3 2016 | 10.83 | 10.83 | 1.21 |
Business Segments (Million)
Q3 2016
| Period | Retail sector | Office sector |
|---|---|---|
| Q1 2016 | 31.54 | 0.26 |
| Q2 2016 | 32.10 | 0.26 |
| Q3 2016 | 33.64 | 0.26 |
| Current | |
| Market Cap (M Riyal) | 2,264.19 |
| Enterprise Value (EV) (M) | 3,156.27 |
| Shares Outstanding ((M)) | 93.33 |
| EPS ( Riyal) (TTM) | (0.13) |
| Book Value (BV) ( Riyal) | 11.07 |
| Par Value ( Riyal) | 10.00 |
| Adjusted P/E (Last12) | Neg |
| P/E (TTM) | NEG |
| Price/book | 2.19 |
| Return on Average Assets (%) (TTM) | (0.55 ) |
| Return on Average Equity (%) (TTM) | (1.18 ) |
Share Price
Alandalus Property Co. (ALANDALUS)
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