Financial Results : Alandalus Property’s net profit jumps 55% in H1

Alandalus Property’s net profit jumps 55% in H1

03/08/2017 Argaam Exclusive

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Alandalus Property Co. reported a net profit of SAR 77.01 million in the first half of 2017, a 55.1 percent jump year-on-year (YoY) attributed to higher rental revenues and lower financing costs.



Financials (M)

Item 6m 2016 6m 2017 Change‬
Revenues 63.76 69.20 8.5 %
Gross Income 40.01 43.29 8.2 %
Operating Income 34.08 37.78 10.8 %
Net Income 49.65 77.01 55.1 %
Average Shares 93.33 93.33 -
EPS (Riyals) 0.53 0.83 55.1 %

Net profit for the second quarter rose 11 percent YoY at SAR 27.57 million due to higher rental revenues, which led to an increase in gross and operating profit.

 

When compared to the previous quarter, Q2 2017 net profit dropped 44.3 percent.



Current Quarter Comparison (M)

Compared With The
Item Q2 2016 Q2 2017 Change‬
Revenues 32.06 36.51 13.9 %
Gross Income 20.17 22.84 13.2 %
Operating Income 17.15 20.09 17.2 %
Net Income 24.85 27.57 10.9 %
Average Shares 93.33 93.33 -
EPS (Riyals) 0.27 0.30 10.9 %


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2008 - - - - - -
Q2 2008 - - - - - -
Q3 2008 - - - - - -
Q4 2008 - - - - - -
Q1 2009 - - - - - -
Q2 2009 - - - - - -
Q3 2009 - - - - - -
Q4 2009 - - - - - -
Q1 2010 - - - - - -
Q2 2010 - - - - - -
Q3 2010 - - - - - -
Q4 2010 - - - - - -
Q1 2011 - - - - - -
Q2 2011 - - - - - -
Q3 2011 - - - - - -
Q4 2011 - - - - - -
Q1 2012 - - - - - -
Q2 2012 - - - - - -
Q3 2012 - - - - - -
Q4 2012 - - - - - -
Q1 2013 - - - - - -
Q2 2013 - - - - - -
Q3 2013 - - - - - -
Q4 2013 - - - - - -
Q1 2014 23.73 - 16.02 - 14.48 -
Q2 2014 25.53 - 18.57 - 16.03 -
Q3 2014 27.33 - 18.47 - 15.76 -
Q4 2014 26.03 - 17.60 - 16.09 -
Q1 2015 29.58 24.7 % 18.23 13.8 % 16.28 12.5 %
Q2 2015 31.72 24.3 % 20.42 10.0 % 18.53 15.6 %
Q3 2015 33.06 21.0 % 19.76 7.0 % 17.09 8.4 %
Q4 2015 32.37 24.4 % 16.66 (5.4 %) 13.64 (15.2 %)
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 %
Q4 2016 33.62 3.9 % 20.98 25.9 % 17.58 28.9 %
Q1 2017 32.70 3.2 % 20.45 3.1 % 17.69 4.5 %
Q2 2017 36.51 13.9 % 22.84 13.2 % 20.09 17.2 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2008 - - - - - -
Q2 2008 - - - - - -
Q3 2008 - - - - - -
Q4 2008 - - - - - -
Q1 2009 - - - - - -
Q2 2009 - - - - - -
Q3 2009 - - - - - -
Q4 2009 - - - - - -
Q1 2010 - - - - - -
Q2 2010 - - - - - -
Q3 2010 - - - - - -
Q4 2010 - - - - - -
Q1 2011 - - - - - -
Q2 2011 - - - - - -
Q3 2011 - - - - - -
Q4 2011 - - - - - -
Q1 2012 - - - - - -
Q2 2012 - - - - - -
Q3 2012 - - - - - -
Q4 2012 - - - - - -
Q1 2013 - - - - - -
Q2 2013 - - - - - -
Q3 2013 - - - - - -
Q4 2013 - - - - - -
Q1 2014 21.42 - 0.23 - 21.42 0.23
Q2 2014 21.90 - 0.23 - 21.90 0.23
Q3 2014 21.88 - 0.23 - 21.88 0.23
Q4 2014 21.61 - 0.23 - 21.61 0.23
Q1 2015 23.55 10.0 % 0.25 - 23.55 0.25
Q2 2015 24.67 12.6 % 0.26 - 24.67 0.26
Q3 2015 24.18 10.5 % 0.26 - 24.18 0.26
Q4 2015 21.68 0.3 % 0.23 - 21.68 0.23
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
Q4 2016 15.81 (27.1 %) 0.17 - 15.81 0.17
Q1 2017 49.45 99.4 % 0.53 22.94 26.50 0.28
Q2 2017 27.57 10.9 % 0.30 - 27.57 0.30

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2008 - - -
Q2 2008 - - -
Q3 2008 - - -
Q4 2008 - - -
Q1 2009 - - -
Q2 2009 - - -
Q3 2009 - - -
Q4 2009 - - -
Q1 2010 - - -
Q2 2010 - - -
Q3 2010 - - -
Q4 2010 - - -
Q1 2011 - - -
Q2 2011 - - -
Q3 2011 - - -
Q4 2011 - - -
Q1 2012 - - -
Q2 2012 - - -
Q3 2012 - - -
Q4 2012 - - -
Q1 2013 - - -
Q2 2013 - - -
Q3 2013 - - -
Q4 2013 - - -
Q1 2014 - - -
Q2 2014 - - -
Q3 2014 - - -
Q4 2014 68.87 % 70.94 % 84.60 %
Q1 2015 67.19 % 69.22 % 82.01 %
Q2 2015 65.18 % 67.95 % 79.99 %
Q3 2015 63.15 % 66.03 % 78.09 %
Q4 2015 59.24 % 61.65 % 74.23 %
Q1 2016 59.52 % 61.03 % 73.99 %
Q2 2016 59.17 % 59.81 % 73.93 %
Q3 2016 59.53 % 59.73 % 74.91 %
Q4 2016 62.25 % 60.32 % 69.74 %
Q1 2017 62.23 % 60.30 % 70.49 %
Q2 2017 62.16 % 60.37 % 70.19 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2008 - - - -
Q2 2008 - - - -
Q3 2008 - - - -
Q4 2008 - - - -
Q1 2009 - - - -
Q2 2009 - - - -
Q3 2009 - - - -
Q4 2009 - - - -
Q1 2010 - - - -
Q2 2010 - - - -
Q3 2010 - - - -
Q4 2010 - - - -
Q1 2011 - - - -
Q2 2011 - - - -
Q3 2011 - - - -
Q4 2011 - - - -
Q1 2012 - - - -
Q2 2012 - - - -
Q3 2012 - - - -
Q4 2012 - - - -
Q1 2013 - - - -
Q2 2013 - - - -
Q3 2013 - - - -
Q4 2013 - - - -
Q1 2014 93.33 - - 7.70
Q2 2014 93.33 - - 7.94
Q3 2014 93.33 - - 8.17
Q4 2014 93.33 0.93 0.93 8.40
Q1 2015 93.33 0.95 0.95 8.65
Q2 2015 93.33 0.98 0.98 8.92
Q3 2015 93.33 1.01 1.01 9.18
Q4 2015 93.33 1.01 1.01 9.41
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
Q4 2016 93.33 0.98 0.98 9.54
Q1 2017 93.33 1.25 1.00 10.07
Q2 2017 93.33 1.28 1.03 10.36

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2008 - - -
Q2 2008 - - -
Q3 2008 - - -
Q4 2008 - - -
Q1 2009 - - -
Q2 2009 - - -
Q3 2009 - - -
Q4 2009 - - -
Q1 2010 - - -
Q2 2010 - - -
Q3 2010 - - -
Q4 2010 - - -
Q1 2011 - - -
Q2 2011 - - -
Q3 2011 - - -
Q4 2011 - - -
Q1 2012 - - -
Q2 2012 - - -
Q3 2012 - - -
Q4 2012 - - -
Q1 2013 - - -
Q2 2013 - - -
Q3 2013 - - -
Q4 2013 - - -
Q1 2014 - - -
Q2 2014 - - -
Q3 2014 - - -
Q4 2014 - - -
Q1 2015 - - -
Q2 2015 - - -
Q3 2015 - - -
Q4 2015 - - -
Q1 2016 15.43 15.43 1.71
Q2 2016 14.79 14.79 1.67
Q3 2016 10.83 10.83 1.21
Q4 2016 14.97 14.97 1.54
Q1 2017 11.26 14.03 1.40
Q2 2017 13.39 16.58 1.65

Business Segments (Million)

Compared With The
Period Retail sector Hospitality sector Office sector Other activities
Q1 2016 31.54 - 0.26 -
Q2 2016 32.10 - 0.26 -
Q3 2016 33.64 - 0.26 -
Q4 2016 33.36 - 0.26 -
Q1 2017 32.44 - 0.26 0.22
Q2 2017 35.90 - 0.26 -


Financial Ratios
Current
Market Cap (M Riyal) 2,226.85
Enterprise Value (EV) (M) 3,118.93
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 2.16
Return on Average Assets (%) (TTM) (0.55 )
Return on Average Equity (%) (TTM) (1.18 )
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Share Price

Alandalus Property Co.
23.86
(0.32) (1.32 %)

Alandalus Property Co. (ALANDALUS)

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