Financial Results : Fawaz Alhokair’s net profit rises 7% in Q1

Fawaz Alhokair’s net profit rises 7% in Q1

05/08/2018 Argaam Exclusive

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Fawaz Abdulaziz Alhokair Co. reported a net profit of SAR 249.2 million for the first quarter ending on June 30, a 7.2 percent year-on-year (YoY) increase on higher profit margin, lower direct cost, a decrease in sales, marketing, general and administrative expenses and higher other income.

On a sequential basis, the company achieved profit in Q1 compared to a net loss of SAR 184.5 million in the previous quarter, due to higher sales on the seasonality effect of Ramadan and higher profit margins.



Current Quarter Comparison (M)

Compared With The
Item Q1 2017 Q1 2018 Change‬
Revenues 2,069.94 1,845.73 (10.8 %)
Gross Income 550.46 523.34 (4.9 %)
Operating Income 306.04 304.88 (0.4 %)
Net Income 232.41 249.19 7.2 %
Average Shares 114.77 114.77 -
EPS (Riyals) 2.03 2.17 7.2 %


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
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 %
Q2 2016 1,665.26 (20.8 %) 315.61 (49.0 %) 109.86 (70.7 %)
Q3 2016 1,430.49 (1.7 %) 311.56 (21.0 %) 93.81 (38.5 %)
Q4 2016 1,405.98 (7.3 %) 321.10 34.1 % 70.41 18.6 %
Q1 2017 2,069.94 (5.5 %) 550.46 (3.2 %) 306.04 (4.0 %)
Q2 2017 1,503.55 (9.7 %) 300.12 (4.9 %) 86.21 (21.5 %)
Q3 2017 1,349.77 (5.6 %) 318.71 2.3 % 89.02 (5.1 %)
Q4 2017 1,193.26 (15.1 %) 45.34 (85.9 %) (179.56) (355.0 %)
Q1 2018 1,845.73 (10.8 %) 523.34 (4.9 %) 304.88 (0.4 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
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
Q2 2016 66.82 (78.5 %) 0.58 - 66.82 0.58
Q3 2016 49.26 (46.0 %) 0.43 - 49.26 0.43
Q4 2016 86.09 2620.1 % 0.75 - 86.09 0.75
Q1 2017 232.41 4.1 % 2.03 - 232.41 2.03
Q2 2017 6.84 (89.8 %) 0.06 (41.07) 47.91 0.42
Q3 2017 48.69 (1.2 %) 0.42 - 48.69 0.42
Q4 2017 (184.45) (314.3 %) (1.61) - (184.45) (1.61)
Q1 2018 249.19 7.2 % 2.17 - 249.19 2.17

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
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 %
Q2 2016 22.24 % 14.15 % 7.76 %
Q3 2016 21.10 % 13.08 % 6.68 %
Q4 2016 22.67 % 13.51 % 7.22 %
Q1 2017 22.81 % 13.40 % 6.61 %
Q2 2017 23.14 % 13.41 % 6.48 %
Q3 2017 23.55 % 13.55 % 6.56 %
Q4 2017 19.86 % 10.13 % 2.36 %
Q1 2018 20.15 % 10.52 % 2.74 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
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
Q2 2016 114.77 3.35 4.62 23.76
Q3 2016 114.77 2.98 3.96 22.86
Q4 2016 114.77 3.71 4.21 18.41
Q1 2017 114.77 3.79 3.79 25.99
Q2 2017 114.77 3.26 3.62 25.84
Q3 2017 114.77 3.26 3.62 26.00
Q4 2017 114.77 0.90 1.26 19.59
Q1 2018 114.77 1.05 1.41 21.71

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
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
Q2 2016 24.42 17.71 3.44
Q3 2016 20.62 15.53 2.69
Q4 2016 18.17 16.01 3.66
Q1 2017 15.54 15.54 2.26
Q2 2017 23.59 21.26 2.98
Q3 2017 24.22 21.83 3.04
Q4 2017 61.70 44.17 2.84
Q1 2018 46.73 34.83 2.26

Business Segments (Million)

Compared With The
Period Fashion Retail Indoor Entertainment
Q1 2016 2,174.25 15.68
Q2 2016 1,654.59 10.67
Q1 2017 2,051.25 18.69
Q2 2017 1,487.68 15.87
Q3 2017 1,349.77 -
Q4 2017 1,146.74 46.52
Q1 2018 1,826.98 18.75

Analysts Estimates (Million)

Item Q1 2018 (e) Q1 2018 (a) Change‬
Average 130.87 249.19 90.42 %

Estimates vs Actual (Million)

Item Q1 2018 (e) Q1 2018 (a) Change
SNB Capital 188.00 249.19 32.5 %
AlJazira Capital 159.60 249.19 56.1 %
Arbah Capital 45.00 249.19 453.8 %


Financial Ratios
Current
Market Cap (M Riyal) 1,529.14
Enterprise Value (EV) (M) 3,240.72
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 (1.89)
Return on Average Assets (%) (TTM) (19.50 )
Return on Average Equity (%) (TTM) -
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Share Price

Fawaz Abdulaziz Alhokair Co.
13.32
(0.34) (2.49 %)

Fawaz Abdulaziz Alhokair Co. (CENOMI RETAIL)

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