Financial Results : Fawaz Alhokair Q1 net profit rises 1%

Fawaz Alhokair Q1 net profit rises 1%

27/07/2016 Argaam Exclusive

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Fawaz Abduaziz Alhokair Co.’s net profit for Q1, which ended in June 2016, rose 0.9 percent to SAR 212.6 million on higher sales in the Saudi market as the number of stores increased, along with Ramadan’s seasonal trend.

 

The clothing retailer’s gains were offset by higher cost of sales, discontinued operations from the Blanco brand (Spain), and higher financing charges.

 

The seasonality factor of Ramadan led to a surge in Q1 net profit compared to the previous quarter’s profit of SAR 3.2 million.



Current Quarter Comparison (M)

Compared With The
Item Q1 2015 Q1 2016 Change‬
Revenues 1,870.41 2,189.93 17.1 %
Gross Income 512.96 568.80 10.9 %
Operating Income 265.93 318.72 19.9 %
Net Income 210.80 223.19 5.9 %
Average Shares 114.77 114.77 -
EPS (Riyals) 1.84 1.94 5.9 %


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2007 306.96 0.0 % 146.05 (0.5 %) 33.16 (26.7 %)
Q2 2007 472.53 18.7 % 191.96 21.4 % 75.11 77.2 %
Q3 2007 443.53 (8.0 %) 196.79 (13.9 %) 77.60 (36.6 %)
Q4 2007 360.94 22.8 % 140.19 16.6 % 21.71 (38.2 %)
Q1 2008 383.96 25.1 % 176.14 20.6 % 36.92 11.3 %
Q2 2008 679.19 43.7 % 275.36 43.4 % 97.98 30.5 %
Q3 2008 425.69 (4.0 %) 195.83 (0.5 %) 28.43 (63.4 %)
Q4 2008 410.27 13.7 % 112.74 (19.6 %) 4.43 (79.6 %)
Q1 2009 384.43 0.1 % 184.84 4.9 % 32.56 (11.8 %)
Q2 2009 734.31 8.1 % 324.43 17.8 % 134.99 37.8 %
Q3 2009 463.16 8.8 % 216.80 10.7 % 36.92 29.9 %
Q4 2009 492.48 20.0 % 216.48 92.0 % 36.47 723.1 %
Q1 2010 501.49 30.4 % 245.48 32.8 % 43.62 33.9 %
Q2 2010 867.35 18.1 % 370.45 14.2 % 140.25 3.9 %
Q3 2010 593.10 28.1 % 266.86 23.1 % 42.26 14.4 %
Q4 2010 612.67 24.4 % 256.34 18.4 % 35.82 (1.8 %)
Q1 2011 724.67 44.5 % 334.79 36.4 % 92.77 112.7 %
Q2 2011 1,008.54 16.3 % 134.98 (63.6 %) 202.74 44.6 %
Q3 2011 758.32 27.9 % 165.29 (38.1 %) 82.68 95.7 %
Q4 2011 711.13 16.1 % 154.93 (39.6 %) 61.09 70.6 %
Q1 2012 865.28 19.4 % 224.13 (33.1 %) 108.31 16.8 %
Q2 2012 1,383.29 37.2 % 404.35 199.6 % 266.77 31.6 %
Q3 2012 1,172.92 54.7 % 261.56 58.2 % 117.28 41.8 %
Q4 2012 1,237.05 74.0 % 240.33 55.1 % 91.58 49.9 %
Q1 2013 1,258.32 45.4 % 339.66 51.5 % 175.15 61.7 %
Q2 2013 1,569.70 13.5 % 452.91 12.0 % 282.60 5.9 %
Q3 2013 1,297.24 10.6 % 322.90 23.5 % 142.66 21.6 %
Q4 2013 1,357.14 9.7 % 282.50 17.5 % 119.79 30.8 %
Q1 2014 1,664.57 32.3 % 441.75 30.1 % 215.89 23.3 %
Q2 2014 2,071.64 32.0 % 574.47 26.8 % 290.39 2.8 %
Q3 2014 1,548.51 19.4 % 362.94 12.4 % 126.18 (11.6 %)
Q4 2014 1,613.95 18.9 % 408.02 44.4 % 213.39 78.1 %
Q1 2015 1,870.41 12.4 % 512.96 16.1 % 265.93 23.2 %
Q2 2015 2,102.21 1.5 % 618.82 7.7 % 374.36 28.9 %
Q3 2015 1,454.96 (6.0 %) 394.62 8.7 % 152.45 20.8 %
Q4 2015 1,515.98 (6.1 %) 239.39 (41.3 %) 59.35 (72.2 %)
Q1 2016 2,189.93 17.1 % 568.80 10.9 % 318.72 19.9 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2007 31.05 (28.8 %) 0.27 - 31.05 0.27
Q2 2007 70.23 71.2 % 0.61 - 70.23 0.61
Q3 2007 76.72 (37.8 %) 0.67 - 76.72 0.67
Q4 2007 23.41 (40.3 %) 0.20 - 23.41 0.20
Q1 2008 37.21 19.8 % 0.32 - 37.21 0.32
Q2 2008 108.12 53.9 % 0.94 - 108.12 0.94
Q3 2008 41.21 (46.3 %) 0.36 - 41.21 0.36
Q4 2008 15.82 (32.4 %) 0.14 - 15.82 0.14
Q1 2009 33.81 (9.1 %) 0.29 - 33.81 0.29
Q2 2009 127.55 18.0 % 1.11 - 127.55 1.11
Q3 2009 42.40 2.9 % 0.37 - 42.40 0.37
Q4 2009 27.74 75.4 % 0.24 - 27.74 0.24
Q1 2010 52.14 54.2 % 0.45 - 52.14 0.45
Q2 2010 174.04 36.4 % 1.52 - 174.04 1.52
Q3 2010 33.93 (20.0 %) 0.30 - 33.93 0.30
Q4 2010 55.36 99.6 % 0.48 - 55.36 0.48
Q1 2011 81.69 56.7 % 0.71 - 81.69 0.71
Q2 2011 201.89 16.0 % 1.76 - 201.89 1.76
Q3 2011 76.49 125.4 % 0.67 - 76.49 0.67
Q4 2011 87.32 57.7 % 0.76 - 87.32 0.76
Q1 2012 120.90 48.0 % 1.05 - 120.90 1.05
Q2 2012 252.44 25.0 % 2.20 - 252.44 2.20
Q3 2012 110.50 44.5 % 0.96 - 110.50 0.96
Q4 2012 135.86 55.6 % 1.18 - 135.86 1.18
Q1 2013 165.18 36.6 % 1.44 - 165.18 1.44
Q2 2013 282.09 11.7 % 2.46 - 282.09 2.46
Q3 2013 133.32 20.7 % 1.16 - 133.32 1.16
Q4 2013 190.78 40.4 % 1.66 - 190.78 1.66
Q1 2014 191.27 15.8 % 1.67 - 191.27 1.67
Q2 2014 303.74 7.7 % 2.65 - 303.74 2.65
Q3 2014 106.20 (20.3 %) 0.93 - 106.20 0.93
Q4 2014 201.74 5.7 % 1.76 - 201.74 1.76
Q1 2015 210.80 10.2 % 1.84 (19.12) 229.93 2.00
Q2 2015 310.67 2.3 % 2.71 (30.40) 341.06 2.97
Q3 2015 91.17 (14.1 %) 0.79 (33.60) 124.77 1.09
Q4 2015 3.17 (98.4 %) 0.03 (54.65) 57.81 0.50
Q1 2016 223.19 5.9 % 1.94 (57.45) 280.64 2.45

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2007 44.08 % 18.15 % 15.84 %
Q2 2007 44.15 % 19.02 % 16.97 %
Q3 2007 43.18 % 15.94 % 14.32 %
Q4 2007 42.61 % 16.05 % 12.72 %
Q1 2008 42.45 % 15.64 % 12.50 %
Q2 2008 42.22 % 15.35 % 13.14 %
Q3 2008 42.57 % 13.23 % 11.35 %
Q4 2008 40.02 % 12.24 % 10.66 %
Q1 2009 40.47 % 12.14 % 10.47 %
Q2 2009 41.84 % 14.12 % 11.17 %
Q3 2009 42.11 % 14.41 % 11.02 %
Q4 2009 45.44 % 15.35 % 11.16 %
Q1 2010 45.78 % 15.43 % 11.40 %
Q2 2010 45.14 % 14.85 % 12.75 %
Q3 2010 44.79 % 14.59 % 11.73 %
Q4 2010 44.24 % 14.14 % 12.25 %
Q1 2011 43.91 % 14.95 % 12.33 %
Q2 2011 33.79 % 16.36 % 12.69 %
Q3 2011 28.72 % 16.83 % 13.38 %
Q4 2011 24.67 % 17.27 % 13.97 %
Q1 2012 20.32 % 17.17 % 14.55 %
Q2 2012 25.52 % 17.58 % 14.45 %
Q3 2012 25.29 % 17.06 % 13.82 %
Q4 2012 24.26 % 16.26 % 13.30 %
Q1 2013 24.66 % 16.64 % 13.14 %
Q2 2013 24.71 % 16.58 % 13.24 %
Q3 2013 25.28 % 16.90 % 13.36 %
Q4 2013 25.50 % 17.25 % 14.07 %
Q1 2014 25.47 % 17.04 % 13.54 %
Q2 2014 25.38 % 16.13 % 12.82 %
Q3 2014 25.02 % 15.50 % 11.92 %
Q4 2014 25.91 % 16.45 % 11.64 %
Q1 2015 26.16 % 16.89 % 11.85 %
Q2 2015 26.67 % 18.17 % 12.32 %
Q3 2015 27.47 % 18.99 % 12.75 %
Q4 2015 25.43 % 17.09 % 10.85 %
Q1 2016 25.08 % 17.13 % 11.07 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2007 114.77 2.04 2.04 7.02
Q2 2007 114.77 2.30 2.30 7.63
Q3 2007 114.77 1.89 1.89 7.69
Q4 2007 114.77 1.75 1.75 7.89
Q1 2008 114.77 1.81 1.81 7.15
Q2 2008 114.77 2.14 2.14 8.09
Q3 2008 114.77 1.83 1.83 7.38
Q4 2008 114.77 1.76 1.76 7.52
Q1 2009 114.77 1.73 1.73 7.81
Q2 2009 114.77 1.90 1.90 8.92
Q3 2009 114.77 1.91 1.91 9.29
Q4 2009 114.77 2.02 2.02 9.54
Q1 2010 114.77 2.18 2.18 8.77
Q2 2010 114.77 2.58 2.58 10.29
Q3 2010 114.77 2.51 2.51 10.58
Q4 2010 114.77 2.75 2.75 9.54
Q1 2011 114.77 3.01 3.01 10.25
Q2 2011 114.77 3.25 3.25 12.01
Q3 2011 114.77 3.62 3.62 12.68
Q4 2011 114.77 3.90 3.90 12.22
Q1 2012 114.77 4.24 4.24 13.27
Q2 2012 114.77 4.68 4.68 15.47
Q3 2012 114.77 4.98 4.98 16.43
Q4 2012 114.77 5.40 5.40 17.62
Q1 2013 114.77 5.79 5.79 17.23
Q2 2013 114.77 6.04 6.04 19.68
Q3 2013 114.77 6.24 6.24 19.47
Q4 2013 114.77 6.72 6.72 21.14
Q1 2014 114.77 6.95 6.95 20.06
Q2 2014 114.77 7.14 7.14 22.70
Q3 2014 114.77 6.90 6.90 21.34
Q4 2014 114.77 7.00 7.00 20.91
Q1 2015 114.77 7.17 7.33 20.84
Q2 2015 114.77 7.23 7.66 22.71
Q3 2015 114.77 7.10 7.82 22.66
Q4 2015 114.77 5.37 6.57 22.73
Q1 2016 114.77 5.47 7.01 23.45

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2007 17.05 17.05 4.97
Q2 2007 12.21 12.21 3.68
Q3 2007 15.07 15.07 3.71
Q4 2007 21.99 21.99 4.89
Q1 2008 18.30 18.30 4.63
Q2 2008 12.34 12.34 3.26
Q3 2008 13.68 13.68 3.39
Q4 2008 11.07 11.07 2.60
Q1 2009 8.17 8.17 1.81
Q2 2009 8.75 8.75 1.87
Q3 2009 10.46 10.46 2.15
Q4 2009 11.16 11.16 2.36
Q1 2010 11.52 11.52 2.86
Q2 2010 9.71 9.71 2.44
Q3 2010 11.43 11.43 2.71
Q4 2010 9.55 9.55 2.75
Q1 2011 8.79 8.79 2.58
Q2 2011 8.90 8.90 2.41
Q3 2011 9.23 9.23 2.63
Q4 2011 10.09 10.09 3.22
Q1 2012 10.86 10.86 3.47
Q2 2012 10.46 10.46 3.16
Q3 2012 11.12 11.12 3.37
Q4 2012 11.75 11.75 3.60
Q1 2013 13.05 13.05 4.38
Q2 2013 15.85 15.85 4.87
Q3 2013 19.79 19.79 6.34
Q4 2013 18.92 18.92 6.02
Q1 2014 23.70 23.70 8.21
Q2 2014 24.43 24.43 7.68
Q3 2014 33.28 33.28 10.76
Q4 2014 25.89 25.89 8.66
Q1 2015 24.68 24.12 8.49
Q2 2015 24.81 23.41 7.90
Q3 2015 16.90 15.33 5.29
Q4 2015 24.10 19.69 5.69
Q1 2016 13.92 10.87 3.25

Business Segments (Million)

Compared With The
Period Fashion Retail Indoor Entertainment
Q1 2016 2,174.25 15.68

Analysts Estimates (Million)

Item Q1 2016 (e) Q1 2016 (a) Change‬
Average 114.40 223.19 95.10 %

Estimates vs Actual (Million)

Item Q1 2016 (e) Q1 2016 (a) Change
SNB Capital 190.00 223.19 17.5 %
AlJazira Capital 94.80 223.19 135.4 %
AlJazira Capital 94.80 223.19 135.4 %
Al Rajhi Capital 78.00 223.19 186.1 %


Financial Ratios
Current
Market Cap (M Riyal) 1,570.46
Enterprise Value (EV) (M) 3,282.05
Shares Outstanding ((M)) 114.80
EPS ( Riyal) (TTM) (9.92)
Book Value (BV) ( Riyal) (7.04)
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book (1.94)
Return on Average Assets (%) (TTM) (19.50 )
Return on Average Equity (%) (TTM) -
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Share Price

Fawaz Abdulaziz Alhokair Co.
13.68
(0.20) (1.44 %)

Fawaz Abdulaziz Alhokair Co. (CENOMI RETAIL)

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