Al Tayyar's H1 net profit drops 27%

27/07/2016 Argaam Exclusive

View other reports

 

Al Tayyar Travel Group reported a net profit of SAR 494 million for the first half of 2016, a 27.4 percent year-on-year (YoY) drop attributed to an 8 percent fall in sales, lower ticket prices, and on impairment loss in associates. 



Financials (M)

Item 6m 2015 6m 2016 Change‬
Revenues 4,539.47 1,156.35 (74.5 %)
Gross Income 986.50 928.16 (5.9 %)
Operating Income 667.93 603.94 (9.6 %)
Net Income 681.17 487.90 (28.4 %)
Average Shares 286.19 300.00 4.8 %
EPS (Riyals) 2.38 1.63 (31.7 %)

 

Al Tayyar’s second quarter net profit fell 24.2 percent YoY to SAR 300 million due to a drop in gross profit margin. Meanwhile, Q2 net profit was 54.6 percent higher compared to the previous quarter. 



Current Quarter Comparison (M)

Compared With The
Item Q2 2015 Q2 2016 Change‬
Revenues 2,386.89 621.39 (74.0 %)
Gross Income 545.42 525.22 (3.7 %)
Operating Income 383.61 362.71 (5.4 %)
Net Income 395.55 296.85 (25.0 %)
Average Shares 286.19 300.00 4.8 %
EPS (Riyals) 1.38 0.99 (28.4 %)


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 - - - - - -
Q3 2009 - - - - - -
Q4 2009 - - - - - -
Q1 2010 - - - - - -
Q2 2010 - - - - - -
Q3 2010 - - - - - -
Q4 2010 - - - - - -
Q1 2011 - - - - - -
Q2 2011 - - - - - -
Q3 2011 1,103.48 - 249.93 - 175.61 -
Q4 2011 1,254.91 - 217.35 - 118.11 -
Q1 2012 1,352.82 - 241.76 - 152.52 -
Q2 2012 1,407.64 - 370.46 - 262.09 -
Q3 2012 1,300.42 17.8 % 289.76 15.9 % 206.63 17.7 %
Q4 2012 1,329.07 5.9 % 246.57 13.4 % 154.08 30.5 %
Q1 2013 1,554.96 14.9 % 301.55 24.7 % 204.66 34.2 %
Q2 2013 1,670.42 18.7 % 402.69 8.7 % 289.32 10.4 %
Q3 2013 1,441.91 10.9 % 298.39 3.0 % 201.67 (2.4 %)
Q4 2013 1,592.99 19.9 % 338.79 37.4 % 199.36 29.4 %
Q1 2014 1,790.31 15.1 % 363.26 20.5 % 242.13 18.3 %
Q2 2014 1,977.95 18.4 % 476.19 18.3 % 345.56 19.4 %
Q3 2014 1,759.46 22.0 % 375.62 25.9 % 234.90 16.5 %
Q4 2014 2,185.93 37.2 % 408.06 20.4 % 247.17 24.0 %
Q1 2015 2,152.58 20.2 % 441.08 21.4 % 284.32 17.4 %
Q2 2015 2,386.89 20.7 % 545.42 14.5 % 383.61 11.0 %
Q3 2015 1,906.81 8.4 % 387.72 3.2 % 223.28 (4.9 %)
Q4 2015 2,184.77 (0.1 %) 416.77 2.1 % 216.72 (12.3 %)
Q1 2016 534.96 (75.1 %) 402.93 (8.6 %) 241.23 (15.2 %)
Q2 2016 621.39 (74.0 %) 525.22 (3.7 %) 362.71 (5.4 %)


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 - - - - - -
Q3 2009 - - - - - -
Q4 2009 - - - - - -
Q1 2010 - - - - - -
Q2 2010 - - - - - -
Q3 2010 - - - - - -
Q4 2010 - - - - - -
Q1 2011 - - - - - -
Q2 2011 - - - - - -
Q3 2011 174.23 - 0.61 - 174.23 0.61
Q4 2011 113.07 - 0.40 - 113.07 0.40
Q1 2012 152.87 - 0.53 - 152.87 0.53
Q2 2012 243.96 - 0.85 - 243.96 0.85
Q3 2012 201.34 15.6 % 0.70 - 201.34 0.70
Q4 2012 157.21 39.0 % 0.55 - 157.21 0.55
Q1 2013 217.90 42.5 % 0.76 - 215.73 0.75
Q2 2013 336.18 37.8 % 1.17 - 301.47 1.05
Q3 2013 214.87 6.7 % 0.75 - 216.46 0.76
Q4 2013 208.27 32.5 % 0.73 - 205.03 0.72
Q1 2014 280.00 28.5 % 0.98 - 250.88 0.88
Q2 2014 363.69 8.2 % 1.27 - 363.89 1.27
Q3 2014 243.77 13.5 % 0.85 - 242.82 0.85
Q4 2014 231.47 11.1 % 0.81 - 263.16 0.92
Q1 2015 285.63 2.0 % 1.00 - 285.63 1.00
Q2 2015 395.55 8.8 % 1.38 - 415.55 1.45
Q3 2015 265.12 8.8 % 0.93 - 275.12 0.96
Q4 2015 215.26 (7.0 %) 0.75 - 252.36 0.88
Q1 2016 191.05 (33.1 %) 0.64 - 215.91 0.72
Q2 2016 296.85 (25.0 %) 0.99 - 345.52 1.15

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 - - -
Q1 2011 - - -
Q2 2011 - - -
Q3 2011 - - -
Q4 2011 - - -
Q1 2012 - - -
Q2 2012 21.09 % 14.53 % 13.36 %
Q3 2012 21.06 % 14.61 % 13.38 %
Q4 2012 21.31 % 15.13 % 14.01 %
Q1 2013 21.61 % 15.53 % 14.63 %
Q2 2013 21.19 % 15.31 % 14.96 %
Q3 2013 20.83 % 14.88 % 14.86 %
Q4 2013 21.43 % 15.01 % 14.99 %
Q1 2014 21.60 % 15.06 % 14.99 %
Q2 2014 21.71 % 15.24 % 15.23 %
Q3 2014 21.82 % 15.06 % 14.92 %
Q4 2014 21.04 % 14.66 % 14.53 %
Q1 2015 21.06 % 14.63 % 14.31 %
Q2 2015 20.86 % 14.45 % 14.23 %
Q3 2015 20.65 % 14.19 % 14.36 %
Q4 2015 20.75 % 13.90 % 14.24 %
Q1 2016 24.99 % 16.54 % 16.52 %
Q2 2016 33.02 % 21.81 % 20.75 %


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 - - - -
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 286.19 - - 4.39
Q4 2011 286.19 - - 4.09
Q1 2012 286.19 - - 4.62
Q2 2012 286.19 2.39 2.39 5.48
Q3 2012 286.19 2.49 2.49 5.48
Q4 2012 286.19 2.64 2.64 6.02
Q1 2013 286.19 2.87 2.86 6.05
Q2 2013 286.19 3.19 3.06 7.22
Q3 2013 286.19 3.24 3.11 7.13
Q4 2013 286.19 3.41 3.28 7.86
Q1 2014 286.19 3.63 3.40 7.88
Q2 2014 286.19 3.73 3.62 9.26
Q3 2014 286.19 3.83 3.71 9.12
Q4 2014 286.19 3.91 3.92 9.93
Q1 2015 286.19 3.93 4.04 10.83
Q2 2015 286.19 4.04 4.22 12.25
Q3 2015 286.19 4.12 4.33 13.14
Q4 2015 286.19 4.06 4.29 13.88
Q1 2016 300.00 3.56 3.86 16.80
Q2 2016 300.00 3.23 3.63 17.77

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 - - -
Q1 2011 - - -
Q2 2011 - - -
Q3 2011 - - -
Q4 2011 - - -
Q1 2012 - - -
Q2 2012 7.97 7.97 3.48
Q3 2012 7.52 7.52 3.41
Q4 2012 7.03 7.03 3.08
Q1 2013 9.26 9.28 4.39
Q2 2013 9.07 9.45 4.01
Q3 2013 12.30 12.79 5.58
Q4 2013 13.78 14.35 5.99
Q1 2014 17.26 18.42 7.96
Q2 2014 17.68 18.20 7.12
Q3 2014 20.73 21.37 8.70
Q4 2014 16.73 16.71 6.59
Q1 2015 18.82 18.32 6.83
Q2 2015 17.93 17.18 5.91
Q3 2015 13.59 12.91 4.25
Q4 2015 13.06 12.35 3.82
Q1 2016 6.89 6.34 1.46
Q2 2016 7.81 6.94 1.42

Business Segments (Million)

Compared With The
Period Tourism Transportation Ticketing Other sectors Property rentals Airline tickets / Travel and Tourism Reservations Shipping Transportation and other Eliminations
Q3 2011 - - - - - 1,044.47 47.70 11.32 -
Q4 2011 - - - - - 1,189.54 46.23 19.15 -
Q1 2012 - - - - - 1,320.08 21.04 11.69 -
Q2 2012 - - - - - 1,368.45 27.20 12.00 -
Q3 2012 - - - - - 1,246.42 33.22 20.78 -
Q4 2012 - - - - - 1,273.55 35.14 20.38 -
Q1 2013 - - - - - 1,520.17 22.99 11.80 -
Q2 2013 - - - - - 1,619.05 34.37 16.99 -
Q3 2013 - - - - - 1,388.81 34.46 18.64 -
Q4 2013 - - - - - 1,537.72 37.37 17.90 -
Q1 2014 - - - - - 1,742.78 33.01 14.52 -
Q2 2014 - - - - - 1,925.79 39.55 12.62 -
Q3 2014 - - - - - 1,690.47 49.80 19.19 -
Q4 2014 - - - - - 2,098.82 39.06 45.78 -
Q1 2015 - - - - - 2,046.43 32.89 73.26 -
Q2 2015 - - - - - 2,257.11 51.89 77.88 -
Q3 2015 - - - - - 1,787.27 38.38 81.06 -
Q4 2015 - - - - - 2,055.07 36.69 93.11 -
Q1 2016 149.27 23.18 357.28 4.34 8.72 - - - (7.83)
Q2 2016 120.62 26.28 467.13 4.97 10.29 - - - (7.91)

Analysts Estimates (Million)

Item Q2 2016 (e) Q2 2016 (a) Change‬
Average 266.13 296.85 11.54 %

Estimates vs Actual (Million)

Item Q2 2016 (e) Q2 2016 (a) Change
AlJazira Capital 279.00 296.85 6.4 %
OSOOL AND BAKHEET 261.80 296.85 13.4 %
Value Capital 257.60 296.85 15.2 %

Current
Market Cap (M Riyal) 7,650.00
Enterprise Value (EV) (M) 9,052.84
Shares Outstanding ((M)) 300.00
EPS ( Riyal) (TTM) 0.82
Book Value (BV) ( Riyal) 22.37
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) More than 100
P/E (TTM) 30.96
Price/book 1.14
Return on Average Assets (%) (TTM) 2.4
Return on Average Equity (%) (TTM) 4.1

Share Price

25.50
(0.15) (0.58 %)

Seera Group Holding (SEERA)


Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.