Al-Ahsa Q1 net profit up 6% to SAR 5 mln

23/04/2015 Argaam Exclusive

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Al-Ahsa Development Company, which invests in the industrial sector, capital markets and real estate, reported a net profit of SAR 4.98 million for first quarter, 5.8 percent higher compared to the same period in 2014.

 

The year-on-year increase was mainly attributed to higher income and gross profit as a result of consolidating its financials with an affiliate company. It also recorded lower general and administrative expenses.

 

 

Higher profit shares from an affiliate’s earnings and better revenue from investments contributed to first quarter’s profit increase.

 

 

 

The company saw a quarter-on-quarter increase from Q4-2014 due to higher income as a result of consolidating its financials with an affiliate company. It also recorded higher dividends, profit share from an affiliate’s earnings, available for sales investment revenue, and higher income from non-recurring operations in Q1.



Current Quarter Comparison (M)

Compared With The
Item Q1 2014 Q1 2015 Change‬
Revenues 0.73 9.51 1202.9 %
Gross Income 0.00 2.66 132900.0 %
Operating Income (1.75) (0.85) 51.7 %
Net Income 4.70 4.74 0.9 %
Average Shares 53.69 53.69 -
EPS (Riyals) 0.09 0.09 0.9 %


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2006 4.86 (46.3 %) (0.18) (111.8 %) (1.95) (22.4 %)
Q2 2006 5.24 (51.9 %) (0.26) (113.4 %) (2.19) (129.7 %)
Q3 2006 3.22 (60.0 %) (0.93) (214.2 %) (2.87) (48.2 %)
Q4 2006 4.54 33.1 % (0.15) 92.0 % (3.15) 37.1 %
Q1 2007 8.69 78.8 % 2.21 1347.5 % (0.97) 50.3 %
Q2 2007 7.57 44.6 % 1.92 840.9 % (1.47) 32.9 %
Q3 2007 1.49 (53.7 %) 0.37 140.2 % (2.54) 11.5 %
Q4 2007 - - (0.01) 91.3 % (9.08) (187.9 %)
Q1 2008 - - - - (2.16) (123.0 %)
Q2 2008 - - - - (2.08) (41.4 %)
Q3 2008 - - - - (1.89) 25.8 %
Q4 2008 - - - - (4.25) 53.2 %
Q1 2009 - - - - (2.07) 3.8 %
Q2 2009 - - - - (2.67) (28.2 %)
Q3 2009 - - - - (2.14) (13.5 %)
Q4 2009 - - - - (2.31) 45.6 %
Q1 2010 - - - - (2.54) (22.4 %)
Q2 2010 - - - - (1.85) 30.7 %
Q3 2010 - - - - (1.71) 20.3 %
Q4 2010 - - - - (2.40) (3.7 %)
Q1 2011 - - - - (1.82) 28.4 %
Q2 2011 - - - - (2.16) (16.5 %)
Q3 2011 - - - - (2.01) (17.6 %)
Q4 2011 - - - - (2.06) 14.2 %
Q1 2012 3.38 - 3.38 - 1.24 168.4 %
Q2 2012 - - (3.38) - (5.57) (158.3 %)
Q3 2012 - - - - (1.62) 19.2 %
Q4 2012 - - - - (2.14) (3.8 %)
Q1 2013 1.43 (57.6 %) 0.45 (86.7 %) (1.92) (254.8 %)
Q2 2013 2.26 - 0.54 116.0 % (1.66) 70.2 %
Q3 2013 1.13 - (0.06) - (2.40) (48.1 %)
Q4 2013 1.65 - (0.28) - (4.24) (98.5 %)
Q1 2014 0.73 (49.1 %) 0.00 (100.4 %) (1.75) 8.8 %
Q2 2014 2.47 9.4 % 0.58 6.9 % (0.96) 42.1 %
Q3 2014 1.02 (10.1 %) (0.08) (36.1 %) (2.57) (7.0 %)
Q4 2014 2.57 55.5 % 0.25 189.2 % (6.61) (56.0 %)
Q1 2015 9.51 1202.9 % 2.66 132900.0 % (0.85) 51.7 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2006 30.26 11.9 % 0.56 - 30.26 0.56
Q2 2006 31.68 (14.0 %) 0.59 - 31.68 0.59
Q3 2006 32.36 53.3 % 0.60 - 32.36 0.60
Q4 2006 (23.31) (322.4 %) (0.43) - (23.31) (0.43)
Q1 2007 4.86 (83.9 %) 0.09 - 4.86 0.09
Q2 2007 4.14 (86.9 %) 0.08 - 4.14 0.08
Q3 2007 7.30 (77.4 %) 0.14 - 7.30 0.14
Q4 2007 17.44 174.8 % 0.32 - 17.44 0.32
Q1 2008 5.86 20.6 % 0.11 - 5.86 0.11
Q2 2008 8.01 93.3 % 0.15 - 8.01 0.15
Q3 2008 (44.39) (708.0 %) (0.83) - (44.39) (0.83)
Q4 2008 (25.72) (247.5 %) (0.48) (24.58) (1.15) (0.02)
Q1 2009 (6.25) (206.7 %) (0.12) - (6.25) (0.12)
Q2 2009 7.42 (7.3 %) 0.14 - 7.42 0.14
Q3 2009 4.61 110.4 % 0.09 - 4.61 0.09
Q4 2009 (2.42) 90.6 % (0.04) - (2.42) (0.04)
Q1 2010 6.32 201.0 % 0.12 - 6.32 0.12
Q2 2010 (2.83) (138.1 %) (0.05) - (2.83) (0.05)
Q3 2010 2.48 (46.2 %) 0.05 - 2.48 0.05
Q4 2010 40.31 1769.2 % 0.75 (20.00) 60.31 1.12
Q1 2011 4.79 (24.2 %) 0.09 - 4.79 0.09
Q2 2011 2.88 202.0 % 0.05 - 2.88 0.05
Q3 2011 1.43 (42.4 %) 0.03 - 1.43 0.03
Q4 2011 (8.97) (122.2 %) (0.17) (5.91) (3.06) (0.06)
Q1 2012 3.29 (31.2 %) 0.06 - 3.29 0.06
Q2 2012 4.44 54.1 % 0.08 - 4.44 0.08
Q3 2012 (1.45) (201.5 %) (0.03) - (1.45) (0.03)
Q4 2012 (3.62) 59.6 % (0.07) - (3.62) (0.07)
Q1 2013 0.61 (81.6 %) 0.01 - 0.61 0.01
Q2 2013 3.53 (20.6 %) 0.07 - 3.53 0.07
Q3 2013 1.17 180.6 % 0.02 - 1.17 0.02
Q4 2013 10.71 395.8 % 0.20 (4.39) 15.11 0.28
Q1 2014 4.70 674.8 % 0.09 - 4.70 0.09
Q2 2014 (4.11) (216.6 %) (0.08) - (4.11) (0.08)
Q3 2014 (12.83) (1198.1 %) (0.24) (33.59) 20.76 0.39
Q4 2014 (22.37) (308.8 %) (0.42) (15.76) (6.61) (0.12)
Q1 2015 4.74 0.9 % 0.09 2.97 1.77 0.03

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2006 2.61 % (8.88 %) 362.75 %
Q2 2006 (6.88 %) (17.31 %) 433.93 %
Q3 2006 (19.26 %) (28.36 %) 626.68 %
Q4 2006 (8.47 %) (16.59 %) 397.75 %
Q1 2007 4.03 % (9.21 %) 210.33 %
Q2 2007 12.71 % (12.83 %) 75.22 %
Q3 2007 19.52 % (4.30 %) (31.41 %)
Q4 2007 25.28 % (23.75 %) 190.16 %
Q1 2008 25.14 % (67.10 %) 383.50 %
Q2 2008 24.06 % (373.12 %) 2,587.87 %
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 100.00 % (39.20 %) 134.47 %
Q2 2012 - (141.95 %) 180.58 %
Q3 2012 - (133.40 %) 95.48 %
Q4 2012 - (139.43 %) 78.81 %
Q1 2013 (204.53 %) (539.68 %) (1.46 %)
Q2 2013 26.79 % (99.59 %) (25.35 %)
Q3 2013 19.25 % (89.06 %) 34.82 %
Q4 2013 10.04 % (95.52 %) 315.10 %
Q1 2014 3.43 % (103.24 %) 424.48 %
Q2 2014 3.93 % (88.57 %) 281.77 %
Q3 2014 3.63 % (128.17 %) 620.97 %
Q4 2014 10.92 % (157.30 %) 217.25 %
Q1 2015 21.83 % (65.06 %) 75.87 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2006 53.69 1.84 1.84 10.27
Q2 2006 53.69 1.74 1.74 9.36
Q3 2006 53.69 1.95 1.95 9.46
Q4 2006 53.69 1.32 1.32 8.50
Q1 2007 53.69 0.85 0.85 8.41
Q2 2007 53.69 0.34 0.34 8.33
Q3 2007 53.69 (0.13) (0.13) 8.80
Q4 2007 53.69 0.63 0.63 9.70
Q1 2008 53.69 0.65 0.65 9.59
Q2 2008 53.69 0.72 0.72 9.72
Q3 2008 53.69 (0.24) (0.24) 8.65
Q4 2008 53.69 (1.05) (0.59) 7.40
Q1 2009 53.69 (1.27) (0.82) 7.26
Q2 2009 53.69 (1.28) (0.83) 7.71
Q3 2009 53.69 (0.37) 0.09 7.94
Q4 2009 53.69 0.06 0.06 7.82
Q1 2010 53.69 0.30 0.30 8.09
Q2 2010 53.69 0.11 0.11 7.89
Q3 2010 53.69 0.07 0.07 7.96
Q4 2010 53.69 0.86 1.23 8.93
Q1 2011 53.69 0.83 1.21 8.98
Q2 2011 53.69 0.94 1.31 8.99
Q3 2011 53.69 0.92 1.29 8.93
Q4 2011 53.69 0.00 0.11 8.76
Q1 2012 53.69 (0.03) 0.08 9.33
Q2 2012 53.69 0.00 0.11 8.92
Q3 2012 53.69 (0.05) 0.06 8.99
Q4 2012 53.69 0.05 0.05 9.01
Q1 2013 53.69 0.00 0.00 9.05
Q2 2013 53.69 (0.02) (0.02) 9.24
Q3 2013 53.69 0.03 0.03 9.43
Q4 2013 53.69 0.30 0.38 9.77
Q1 2014 53.69 0.37 0.46 9.75
Q2 2014 53.69 0.23 0.31 9.78
Q3 2014 53.69 (0.03) 0.68 9.60
Q4 2014 53.69 (0.64) 0.27 9.04
Q1 2015 53.69 (0.64) 0.22 9.28

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2006 36.23 36.23 6.48
Q2 2006 79.70 79.70 14.84
Q3 2006 69.81 69.81 14.41
Q4 2006 38.21 38.21 5.95
Q1 2007 56.42 56.42 5.70
Q2 2007 More than 100 More than 100 4.36
Q3 2007 NEG NEG 5.27
Q4 2007 79.78 79.78 5.17
Q1 2008 61.31 61.31 4.14
Q2 2008 49.96 49.96 3.70
Q3 2008 NEG NEG 2.35
Q4 2008 NEG NEG 1.99
Q1 2009 NEG NEG 3.05
Q2 2009 NEG NEG 2.60
Q3 2009 NEG More than 100 2.43
Q4 2009 More than 100 More than 100 2.36
Q1 2010 68.61 68.61 2.52
Q2 2010 More than 100 More than 100 2.32
Q3 2010 More than 100 More than 100 2.15
Q4 2010 21.93 15.31 2.12
Q1 2011 21.86 15.11 2.03
Q2 2011 20.02 14.34 2.09
Q3 2011 18.31 13.03 1.89
Q4 2011 More than 100 More than 100 2.55
Q1 2012 NEG More than 100 4.00
Q2 2012 More than 100 More than 100 2.47
Q3 2012 NEG More than 100 2.86
Q4 2012 More than 100 More than 100 2.48
Q1 2013 NEG NEG 2.85
Q2 2013 NEG NEG 2.47
Q3 2013 More than 100 More than 100 2.73
Q4 2013 84.59 66.38 2.58
Q1 2014 77.87 63.91 2.99
Q2 2014 More than 100 95.59 3.07
Q3 2014 NEG 48.25 3.41
Q4 2014 NEG 90.58 2.75
Q1 2015 NEG More than 100 2.69

Business Segments (Million)

Compared With The
Period medical service Manufacturing sector Investments Food
Q1 2013 - - 3.29 1.43
Q2 2013 - - 5.37 2.26
Q3 2013 - - 3.62 1.13
Q4 2013 - - 2.52 1.65
Q1 2014 - 0.73 - -
Q2 2014 - 2.47 - -
Q3 2014 - 1.02 - -
Q4 2014 - 2.57 - -
Q1 2015 6.92 2.59 - -


Financial Ratios
Current
Market Cap (M Riyal) 1,684.71
Enterprise Value (EV) (M) 2,397.98
Shares Outstanding ((M)) 100.64
EPS ( Riyal) (TTM) (2.63)
Book Value (BV) ( Riyal) 4.46
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 4.27
Return on Average Assets (%) (TTM) (14.09 )
Return on Average Equity (%) (TTM) (44.57 )
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Share Price

AYYAN Investment Co.
16.74
(0.44) (2.56 %)

AYYAN Investment Co. (AYYAN)

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