Financial Results : Dar Al Arkan posts lower net profit at SAR 574.7m for 2013

Dar Al Arkan posts lower net profit at SAR 574.7m for 2013

21/01/2015 Argaam Exclusive

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Financials (M)

Item 2013 2014 Change‬
Revenues 2,931.17 3,056.06 4.3 %
Gross Income 1,153.07 1,299.26 12.7 %
Operating Income 998.03 1,058.11 6.0 %
Net Income 681.46 574.70 (15.7 %)
Average Shares 1,080.00 1,080.00 -
EPS (Riyals) 0.63 0.53 (15.7 %)


Current Quarter Comparison (M)

Compared With The
Item Q4 2013 Q4 2014 Change‬
Revenues 692.93 606.75 (12.4 %)
Gross Income 262.97 306.11 16.4 %
Operating Income 229.59 251.24 9.4 %
Net Income 156.83 115.60 (26.3 %)
Average Shares 1,080.00 1,080.00 -
EPS (Riyals) 0.15 0.11 (26.3 %)


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2005 - - - - - -
Q2 2005 - - - - - -
Q3 2005 - - - - - -
Q4 2005 - - - - - -
Q1 2006 846.33 - 399.39 - 380.67 -
Q2 2006 887.82 - 429.96 - 404.71 -
Q3 2006 - - - - - -
Q4 2006 - - - - - -
Q1 2007 912.98 7.9 % 452.81 13.4 % 433.53 13.9 %
Q2 2007 1,041.78 17.3 % 560.20 30.3 % 534.82 32.1 %
Q3 2007 1,641.14 - 767.13 - 740.32 -
Q4 2007 1,330.04 - 627.87 - 561.43 -
Q1 2008 1,234.17 35.2 % 586.70 29.6 % 548.38 26.5 %
Q2 2008 1,550.36 48.8 % 836.03 49.2 % 782.53 46.3 %
Q3 2008 1,567.04 (4.5 %) 859.32 12.0 % 802.78 8.4 %
Q4 2008 1,259.20 (5.3 %) 563.13 (10.3 %) 511.93 (8.8 %)
Q1 2009 1,237.72 0.3 % 512.83 (12.6 %) 474.22 (13.5 %)
Q2 2009 1,482.37 (4.4 %) 712.82 (14.7 %) 668.21 (14.6 %)
Q3 2009 1,523.47 (2.8 %) 714.19 (16.9 %) 665.50 (17.1 %)
Q4 2009 1,220.50 (3.1 %) 567.29 0.7 % 512.92 0.2 %
Q1 2010 1,144.94 (7.5 %) 478.42 (6.7 %) 435.24 (8.2 %)
Q2 2010 1,114.44 (24.8 %) 530.85 (25.5 %) 492.01 (26.4 %)
Q3 2010 910.21 (40.3 %) 374.90 (47.5 %) 340.28 (48.9 %)
Q4 2010 972.39 (20.3 %) 380.09 (33.0 %) 350.13 (31.7 %)
Q1 2011 955.15 (16.6 %) 366.63 (23.4 %) 339.56 (22.0 %)
Q2 2011 791.24 (29.0 %) 337.74 (36.4 %) 305.74 (37.9 %)
Q3 2011 755.19 (17.0 %) 320.63 (14.5 %) 289.89 (14.8 %)
Q4 2011 810.93 (16.6 %) 344.02 (9.5 %) 315.23 (10.0 %)
Q1 2012 868.19 (9.1 %) 367.46 0.2 % 335.23 (1.3 %)
Q2 2012 1,083.51 36.9 % 388.05 14.9 % 346.72 13.4 %
Q3 2012 728.52 (3.5 %) 329.38 2.7 % 280.40 (3.3 %)
Q4 2012 876.85 8.1 % 308.83 (10.2 %) 256.27 (18.7 %)
Q1 2013 835.82 (3.7 %) 375.58 2.2 % 323.22 (3.6 %)
Q2 2013 680.86 (37.2 %) 208.07 (46.4 %) 180.19 (48.0 %)
Q3 2013 721.56 (1.0 %) 306.46 (7.0 %) 265.04 (5.5 %)
Q4 2013 692.93 (21.0 %) 262.97 (14.8 %) 229.59 (10.4 %)
Q1 2014 924.09 10.6 % 402.77 7.2 % 348.43 7.8 %
Q2 2014 774.21 13.7 % 294.24 41.4 % 233.14 29.4 %
Q3 2014 751.01 4.1 % 296.13 (3.4 %) 225.31 (15.0 %)
Q4 2014 606.75 (12.4 %) 306.11 16.4 % 251.24 9.4 %
2014 3,056.06 4.3 % 1,299.26 12.7 % 1,058.11 6.0 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2005 - - - - - -
Q2 2005 - - - - - -
Q3 2005 - - - - - -
Q4 2005 - - - - - -
Q1 2006 380.39 - 0.35 - 380.39 0.35
Q2 2006 405.59 - 0.38 - 405.59 0.38
Q3 2006 - - - - - -
Q4 2006 - - - - - -
Q1 2007 424.60 11.6 % 0.39 - 424.60 0.39
Q2 2007 471.81 16.3 % 0.44 - 471.81 0.44
Q3 2007 689.80 - 0.64 - 689.80 0.64
Q4 2007 422.37 - 0.39 - 422.37 0.39
Q1 2008 452.76 6.6 % 0.42 - 452.76 0.42
Q2 2008 687.53 45.7 % 0.64 - 687.53 0.64
Q3 2008 719.50 4.3 % 0.67 - 719.50 0.67
Q4 2008 496.46 17.5 % 0.46 - 496.46 0.46
Q1 2009 424.52 (6.2 %) 0.39 - 424.52 0.39
Q2 2009 618.27 (10.1 %) 0.57 - 618.27 0.57
Q3 2009 616.15 (14.4 %) 0.57 - 616.15 0.57
Q4 2009 463.74 (6.6 %) 0.43 - 463.74 0.43
Q1 2010 398.65 (6.1 %) 0.37 - 398.65 0.37
Q2 2010 437.00 (29.3 %) 0.40 - 437.00 0.40
Q3 2010 289.63 (53.0 %) 0.27 - 289.63 0.27
Q4 2010 330.44 (28.7 %) 0.31 - 330.44 0.31
Q1 2011 273.09 (31.5 %) 0.25 - 273.09 0.25
Q2 2011 297.77 (31.9 %) 0.28 - 297.77 0.28
Q3 2011 227.47 (21.5 %) 0.21 - 227.47 0.21
Q4 2011 289.61 (12.4 %) 0.27 - 289.61 0.27
Q1 2012 292.59 7.1 % 0.27 - 292.59 0.27
Q2 2012 331.03 11.2 % 0.31 - 331.03 0.31
Q3 2012 220.89 (2.9 %) 0.20 56.70 164.19 0.15
Q4 2012 144.04 (50.3 %) 0.13 - 144.04 0.13
Q1 2013 237.61 (18.8 %) 0.22 - 237.61 0.22
Q2 2013 103.70 (68.7 %) 0.10 - 103.70 0.10
Q3 2013 183.32 (17.0 %) 0.17 - 183.32 0.17
Q4 2013 156.83 8.9 % 0.15 - 156.83 0.15
Q1 2014 247.86 4.3 % 0.23 - 247.86 0.23
Q2 2014 121.34 17.0 % 0.11 - 121.34 0.11
Q3 2014 89.90 (51.0 %) 0.08 - 89.90 0.08
Q4 2014 115.60 (26.3 %) 0.11 - 115.60 0.11
2014 574.70 (15.7 %) 0.53 - 574.70 0.53

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2005 - - -
Q2 2005 - - -
Q3 2005 - - -
Q4 2005 - - -
Q1 2006 - - -
Q2 2006 - - -
Q3 2006 - - -
Q4 2006 - - -
Q1 2007 - - -
Q2 2007 - - -
Q3 2007 - - -
Q4 2007 48.88 % 46.95 % 40.78 %
Q1 2008 48.44 % 46.44 % 38.82 %
Q2 2008 48.96 % 46.74 % 39.13 %
Q3 2008 51.22 % 48.61 % 40.17 %
Q4 2008 50.71 % 48.04 % 42.00 %
Q1 2009 49.36 % 46.59 % 41.47 %
Q2 2009 47.75 % 45.03 % 40.72 %
Q3 2009 45.49 % 42.72 % 39.17 %
Q4 2009 45.88 % 43.22 % 38.85 %
Q1 2010 46.04 % 43.25 % 39.04 %
Q2 2010 45.78 % 42.93 % 38.29 %
Q3 2010 44.45 % 41.53 % 36.20 %
Q4 2010 42.59 % 40.02 % 35.15 %
Q1 2011 41.81 % 39.46 % 33.66 %
Q2 2011 40.21 % 37.78 % 32.82 %
Q3 2011 40.45 % 37.95 % 32.49 %
Q4 2011 41.33 % 38.76 % 32.84 %
Q1 2012 42.47 % 39.68 % 34.33 %
Q2 2012 40.37 % 37.50 % 32.43 %
Q3 2012 40.93 % 37.66 % 30.86 %
Q4 2012 39.18 % 35.45 % 26.20 %
Q1 2013 39.77 % 35.51 % 24.88 %
Q2 2013 39.14 % 34.94 % 20.80 %
Q3 2013 38.49 % 34.52 % 21.47 %
Q4 2013 39.34 % 35.77 % 23.25 %
Q1 2014 39.09 % 35.67 % 22.91 %
Q2 2014 40.68 % 36.30 % 22.79 %
Q3 2014 39.97 % 34.70 % 19.60 %
Q4 2014 42.51 % 36.47 % 18.81 %
2014 42.51 % 36.47 % 18.81 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2005 - - - -
Q2 2005 - - - -
Q3 2005 - - - -
Q4 2005 - - - -
Q1 2006 1,080.00 - - 10.00
Q2 2006 1,080.00 - - 10.37
Q3 2006 - - - -
Q4 2006 - - - -
Q1 2007 1,080.00 - - 10.22
Q2 2007 1,080.00 - - 10.66
Q3 2007 1,080.00 - - 9.79
Q4 2007 1,080.00 1.86 1.86 10.19
Q1 2008 1,080.00 1.89 1.89 10.60
Q2 2008 1,080.00 2.09 2.09 9.74
Q3 2008 1,080.00 2.11 2.11 10.41
Q4 2008 1,080.00 2.18 2.18 10.87
Q1 2009 1,080.00 2.16 2.16 11.26
Q2 2009 1,080.00 2.09 2.09 11.83
Q3 2009 1,080.00 2.00 2.00 12.40
Q4 2009 1,080.00 1.97 1.97 12.83
Q1 2010 1,080.00 1.94 1.94 13.20
Q2 2010 1,080.00 1.77 1.77 12.61
Q3 2010 1,080.00 1.47 1.47 12.87
Q4 2010 1,080.00 1.35 1.35 13.18
Q1 2011 1,080.00 1.23 1.23 13.43
Q2 2011 1,080.00 1.10 1.10 13.71
Q3 2011 1,080.00 1.05 1.05 13.92
Q4 2011 1,080.00 1.01 1.01 14.19
Q1 2012 1,080.00 1.03 1.03 14.46
Q2 2012 1,080.00 1.06 1.06 14.77
Q3 2012 1,080.00 1.05 1.00 14.97
Q4 2012 1,080.00 0.92 0.86 15.10
Q1 2013 1,080.00 0.86 0.81 15.32
Q2 2013 1,080.00 0.65 0.60 15.42
Q3 2013 1,080.00 0.62 0.62 15.59
Q4 2013 1,080.00 0.63 0.63 15.73
Q1 2014 1,080.00 0.64 0.64 15.96
Q2 2014 1,080.00 0.66 0.66 16.08
Q3 2014 1,080.00 0.57 0.57 16.16
Q4 2014 1,080.00 0.53 0.53 16.27

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2005 - - -
Q2 2005 - - -
Q3 2005 - - -
Q4 2005 - - -
Q1 2006 - - -
Q2 2006 - - -
Q3 2006 - - -
Q4 2006 - - -
Q1 2007 - - -
Q2 2007 - - -
Q3 2007 - - -
Q4 2007 19.77 19.77 3.61
Q1 2008 16.71 16.71 2.97
Q2 2008 12.71 12.71 2.72
Q3 2008 11.43 11.43 2.32
Q4 2008 6.83 6.83 1.37
Q1 2009 6.08 6.08 1.16
Q2 2009 8.48 8.48 1.50
Q3 2009 7.94 7.94 1.28
Q4 2009 7.15 7.15 1.09
Q1 2010 7.29 7.29 1.07
Q2 2010 6.65 6.65 0.94
Q3 2010 6.93 6.93 0.79
Q4 2010 6.68 6.68 0.68
Q1 2011 7.84 7.84 0.72
Q2 2011 7.12 7.12 0.57
Q3 2011 5.98 5.98 0.45
Q4 2011 7.20 7.20 0.51
Q1 2012 12.78 12.78 0.91
Q2 2012 8.57 8.57 0.61
Q3 2012 8.52 8.97 0.60
Q4 2012 9.01 9.56 0.55
Q1 2013 9.54 10.16 0.54
Q2 2013 15.90 17.29 0.67
Q3 2013 16.31 16.31 0.65
Q4 2013 15.61 15.61 0.63
Q1 2014 19.52 19.52 0.78
Q2 2014 18.80 18.80 0.77
Q3 2014 24.41 24.41 0.86
Q4 2014 15.28 15.28 0.50

Business Segments (Million)

Compared With The
Period property Leasing Sale of Land Sale of residential properties
Q1 2007 - 560.55 352.43
Q2 2007 - 646.65 395.12
Q1 2008 - 916.32 317.85
Q2 2008 - 1,042.34 508.02
Q3 2008 - 1,455.49 111.56
Q4 2008 - 1,206.25 52.96
Q1 2009 - 1,117.60 120.11
Q2 2009 - 1,330.76 151.61
Q3 2009 - 1,400.67 122.80
Q4 2009 - 1,095.70 124.80
Q1 2010 - 1,026.97 117.97
Q2 2010 - 980.19 134.24
Q3 2010 - 831.26 78.95
Q4 2010 - 926.88 45.51
Q1 2011 5.23 938.54 11.39
Q2 2011 2.78 757.68 30.77
Q3 2011 3.30 729.91 21.98
Q4 2011 3.69 794.04 13.20
Q1 2012 4.66 850.75 12.79
Q2 2012 5.04 1,072.63 5.84
Q3 2012 17.35 708.06 3.12
Q4 2012 25.74 847.56 3.55
Q1 2013 24.92 810.91 -
Q2 2013 27.62 652.78 0.46
Q3 2013 27.81 693.75 -
Q4 2013 28.09 664.84 -
Q1 2014 31.22 892.87 -
Q2 2014 31.02 735.19 8.00
Q3 2014 29.81 721.20 -
Q4 2014 32.57 574.17 -

Current
Market Cap (M Riyal) 18,144.00
Enterprise Value (EV) (M) 23,453.20
Shares Outstanding ((M)) 1,080.00
EPS ( Riyal) (TTM) 0.60
Book Value (BV) ( Riyal) 19.19
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 27.99
P/E (TTM) 27.99
Price/book 0.88
Return on Average Assets (%) (TTM) 1.9
Return on Average Equity (%) (TTM) 3.2

Share Price

Dar Alarkan Real Estate Development Co. (DAR ALARKAN)


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