Financial Results : Raydan’s H1 profit falls 45% to SAR 12 mln

Raydan’s H1 profit falls 45% to SAR 12 mln

09/08/2017 Argaam Exclusive

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Raydan Restaurants and Cuisines Co. reported a net profit of SAR 12.45 million in the first half of 2017, a 44.5 percent drop year-on-year (YoY) on lower sales and a general drop of the sector.



Financials (M)

Item 6m 2016 6m 2017 Change‬
Revenues 149.54 132.21 (11.6 %)
Gross Income 39.58 26.69 (32.6 %)
Operating Income 24.83 13.44 (45.9 %)
Net Income 22.44 13.44 (40.1 %)
Average Shares 13.92 13.92 -
EPS (Riyals) 1.61 0.97 (40.1 %)

The company’s net profit for the second quarter fell 45.2 percent YoY to SAR 5.8 million, also due to lower sales and a slowdown in the sector.

 

When compared to the previous quarter, Q2 2017 net profit rose 26.6 percent. The firm noted that Q1 2017 included IPO fees of SAR 2.07 million that was booked from gross operating profit according to the company’s external auditor while the actual amount was deducted from founding shareholders, which brings the Q1 net profit to SAR 6.65 million.



Current Quarter Comparison (M)

Compared With The
Item Q2 2016 Q2 2017 Change‬
Revenues 74.72 69.47 (7.0 %)
Gross Income 20.75 13.43 (35.3 %)
Operating Income 11.35 6.42 (43.4 %)
Net Income 10.58 6.56 (38.0 %)
Average Shares 13.92 13.92 -
EPS (Riyals) 0.76 0.47 (38.0 %)


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 - - - - - -
Q2 2014 - - - - - -
Q3 2014 - - - - - -
Q4 2014 - - - - - -
Q1 2015 - - - - - -
Q2 2015 - - - - - -
Q3 2015 - - - - - -
Q4 2015 - - - - - -
Q1 2016 74.82 - 18.82 - 13.49 -
Q2 2016 74.72 - 20.75 - 11.35 -
Q3 2016 85.21 - 19.68 - 14.96 -
Q4 2016 65.19 - 10.44 - 8.31 -
Q1 2017 62.74 (16.1 %) 13.25 (29.6 %) 7.02 (48.0 %)
Q2 2017 69.47 (7.0 %) 13.43 (35.3 %) 6.42 (43.4 %)


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 - - - - - -
Q2 2014 - - - - - -
Q3 2014 - - - - - -
Q4 2014 - - - - - -
Q1 2015 - - - - - -
Q2 2015 - - - - - -
Q3 2015 - - - - - -
Q4 2015 - - - - - -
Q1 2016 11.86 - 0.85 - 11.86 0.85
Q2 2016 10.58 - 0.76 - 10.58 0.76
Q3 2016 14.07 - 1.01 - 14.07 1.01
Q4 2016 5.86 - 0.42 (2.56) 8.42 0.60
Q1 2017 6.87 (42.0 %) 0.49 (2.07) 8.94 0.64
Q2 2017 6.56 (38.0 %) 0.47 - 6.56 0.47

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 - - -
Q1 2015 - - -
Q2 2015 - - -
Q3 2015 - - -
Q4 2015 - - -
Q1 2016 - - -
Q2 2016 - - -
Q3 2016 - - -
Q4 2016 23.24 % 21.35 % 14.98 %
Q1 2017 22.28 % 20.06 % 14.59 %
Q2 2017 20.10 % 18.42 % 13.44 %


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 - - - -
Q2 2014 - - - -
Q3 2014 - - - -
Q4 2014 - - - -
Q1 2015 - - - -
Q2 2015 - - - -
Q3 2015 - - - -
Q4 2015 - - - -
Q1 2016 13.92 - - 18.35
Q2 2016 13.92 - - 19.11
Q3 2016 13.92 - - 20.08
Q4 2016 13.92 3.04 3.23 17.88
Q1 2017 13.92 2.69 3.02 18.36
Q2 2017 13.92 2.40 2.73 18.48

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 - - -
Q2 2016 - - -
Q3 2016 - - -
Q4 2016 - - -
Q1 2017 21.24 18.90 3.11
Q2 2017 16.86 14.80 2.19


Financial Ratios
Current
Market Cap (M Riyal) 338.33
Enterprise Value (EV) (M) 340.81
Shares Outstanding ((M)) 15.81
EPS ( Riyal) (TTM) (1.45)
Book Value (BV) ( Riyal) 8.63
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 2.48
Return on Average Assets (%) (TTM) (8.58 )
Return on Average Equity (%) (TTM) (14.46 )
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