Financial Results : Jabal Omar posts SAR 2 mln profit in Q1 2019

Jabal Omar posts SAR 2 mln profit in Q1 2019

12/05/2019 Argaam Exclusive

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Jabal Omar Development Co. reported a net profit after zakat and tax of SAR 1.6 million for Q1 2019, versus net losses of SAR 128.2 million a year earlier on higher revenue from sales of residential units. The company also cited a rise in commercial revenue and other income.

When compared to the previous quarter, the real estate developer’s net profit surged 66 percent backed by a rise in other income.



Current Quarter Comparison (M)

Compared With The
Item Q1 2018 Q1 2019 Change‬
Revenues 142.13 177.62 25.0 %
Gross Income 29.30 (11.55) (139.4 %)
Operating Income (30.19) (68.73) (127.6 %)
Net Income (129.30) 1.62 101.3 %
Average Shares 929.40 929.40 -
EPS (Riyals) (0.14) 0.00 101.3 %


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2010 - - - - (8.91) (34.2 %)
Q2 2010 - - - - (7.60) (31.0 %)
Q3 2010 - - - - (9.40) 4.6 %
Q4 2010 - - - - (11.37) (101.1 %)
Q1 2011 - - - - (7.36) 17.4 %
Q2 2011 - - - - (10.38) (36.6 %)
Q3 2011 - - - - (9.80) (4.3 %)
Q4 2011 - - - - (9.91) 12.9 %
Q1 2012 - - - - (14.30) (94.3 %)
Q2 2012 - - - - (18.73) (80.5 %)
Q3 2012 - - - - (13.32) (35.9 %)
Q4 2012 - - - - (13.23) (33.6 %)
Q1 2013 12.70 - 3.47 - (10.70) 25.2 %
Q2 2013 16.18 - 5.34 - (9.66) 48.4 %
Q3 2013 22.79 - 10.81 - (7.39) 44.5 %
Q4 2013 (6.07) - (10.14) - (61.24) (362.9 %)
Q1 2014 23.86 88.0 % 9.79 182.0 % (5.08) 52.5 %
Q2 2014 26.57 64.3 % 12.72 138.3 % (2.67) 72.4 %
Q3 2014 26.79 17.6 % 14.73 36.2 % (4.41) 40.4 %
Q4 2014 653.94 10878.7 % 488.24 4914.0 % 449.33 833.7 %
Q1 2015 239.16 902.2 % 169.39 1630.4 % 152.63 3102.7 %
Q2 2015 234.95 784.2 % 140.58 1004.9 % 80.66 3122.1 %
Q3 2015 192.52 618.6 % 98.28 567.3 % 72.20 1738.0 %
Q4 2015 112.81 (82.7 %) 26.20 (94.6 %) (94.87) (121.1 %)
Q1 2016 104.51 (56.3 %) 8.45 (95.0 %) (21.42) (114.0 %)
Q2 2016 166.43 (29.2 %) 5.92 (95.8 %) (35.27) (143.7 %)
Q3 2016 270.58 40.5 % 139.38 41.8 % 107.75 49.2 %
Q4 2016 - - (38.98) (248.8 %) (43.34) 54.3 %
Q1 2017 323.12 209.2 % 157.91 1769.0 % 113.49 629.9 %
Q2 2017 200.19 20.3 % 63.53 974.0 % 11.57 132.8 %
Q3 2017 45.52 (83.2 %) (210.33) (250.9 %) (315.26) (392.6 %)
Q4 2017 - - - - - -
Q1 2018 142.13 (56.0 %) 29.30 (81.4 %) (30.19) (126.6 %)
Q2 2018 250.25 25.0 % 49.49 (22.1 %) (15.70) (235.7 %)
Q3 2018 1,322.66 2805.7 % 673.04 420.0 % 593.96 288.4 %
Q4 2018 247.61 - 46.01 - (12.71) -
Q1 2019 177.62 25.0 % (11.55) (139.4 %) (68.73) (127.6 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2010 (8.91) (117.5 %) (0.01) - (8.91) (0.01)
Q2 2010 (7.60) 58.4 % (0.01) - (7.60) (0.01)
Q3 2010 (9.21) 4.5 % (0.01) - (9.21) (0.01)
Q4 2010 (11.31) (677.5 %) (0.01) - (11.31) (0.01)
Q1 2011 (7.36) 17.5 % (0.01) - (7.36) (0.01)
Q2 2011 (10.36) (36.4 %) (0.01) - (10.36) (0.01)
Q3 2011 (9.57) (3.9 %) (0.01) - (9.57) (0.01)
Q4 2011 (9.48) 16.2 % (0.01) - (9.48) (0.01)
Q1 2012 (13.06) (77.6 %) (0.01) - (13.06) (0.01)
Q2 2012 (16.93) (63.4 %) (0.02) - (16.93) (0.02)
Q3 2012 (11.78) (23.1 %) (0.01) - (11.78) (0.01)
Q4 2012 (9.62) (1.5 %) (0.01) - (9.62) (0.01)
Q1 2013 (5.26) 59.7 % (0.01) - (5.26) (0.01)
Q2 2013 (6.12) 63.8 % (0.01) - (6.12) (0.01)
Q3 2013 (3.37) 71.4 % 0.00 - (3.37) 0.00
Q4 2013 (57.50) (497.8 %) (0.06) - (57.50) (0.06)
Q1 2014 (2.53) 52.0 % 0.00 - (2.53) 0.00
Q2 2014 (0.47) 92.4 % 0.00 - (0.47) 0.00
Q3 2014 (1.63) 51.6 % 0.00 - (1.63) 0.00
Q4 2014 431.26 850.1 % 0.46 - 431.26 0.46
Q1 2015 145.16 5842.2 % 0.16 - 145.16 0.16
Q2 2015 65.05 14028.3 % 0.07 - 65.05 0.07
Q3 2015 8.67 630.8 % 0.01 - 8.67 0.01
Q4 2015 (126.95) (129.4 %) (0.14) - (126.95) (0.14)
Q1 2016 (75.51) (152.0 %) (0.08) - (75.51) (0.08)
Q2 2016 9.49 (85.4 %) 0.01 83.67 (74.18) (0.08)
Q3 2016 63.35 630.9 % 0.07 - 63.35 0.07
Q4 2016 (68.04) 46.4 % (0.07) - (68.04) (0.07)
Q1 2017 53.79 171.2 % 0.06 - 53.79 0.06
Q2 2017 (60.79) (740.3 %) (0.07) - (60.79) (0.07)
Q3 2017 (593.97) (1037.6 %) (0.64) - (593.97) (0.64)
Q4 2017 - - - - - -
Q1 2018 (129.30) (340.4 %) (0.14) - (129.30) (0.14)
Q2 2018 (148.02) (143.5 %) (0.16) - (148.02) (0.16)
Q3 2018 469.62 179.1 % 0.51 - 469.62 0.51
Q4 2018 1.48 - 0.00 - 1.48 0.00
Q1 2019 1.62 101.3 % 0.00 197.44 (195.82) (0.21)

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2010 - - -
Q2 2010 - - -
Q3 2010 - - -
Q4 2010 - - -
Q1 2011 - - -
Q2 2011 - - -
Q3 2011 - - -
Q4 2011 - - -
Q1 2012 - - -
Q2 2012 - - -
Q3 2012 - - -
Q4 2012 - - -
Q1 2013 27.34 % (382.17 %) (343.38 %)
Q2 2013 30.52 % (117.18 %) (113.56 %)
Q3 2013 37.98 % (43.14 %) (47.18 %)
Q4 2013 20.79 % (141.50 %) (158.46 %)
Q1 2014 27.83 % (103.72 %) (122.47 %)
Q2 2014 34.52 % (77.14 %) (95.09 %)
Q3 2014 38.08 % (68.48 %) (87.30 %)
Q4 2014 71.87 % 64.33 % 58.35 %
Q1 2015 72.38 % 67.76 % 60.68 %
Q2 2015 70.39 % 64.34 % 55.40 %
Q3 2015 67.89 % 63.49 % 49.23 %
Q4 2015 55.74 % 37.45 % 11.79 %
Q1 2016 42.42 % 22.00 % (19.97 %)
Q2 2016 24.09 % 15.12 % (46.50 %)
Q3 2016 27.50 % 4.39 % (32.60 %)
Q4 2016 - - -
Q1 2017 - - -
Q2 2017 - - -
Q3 2017 - - -
Q4 2017 - - -
Q1 2018 - - -
Q2 2018 - - -
Q3 2018 - - -
Q4 2018 40.65 % 42.48 % 9.87 %
Q1 2019 37.89 % 40.02 % 6.37 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2010 756.39 (0.05) (0.05) 8.76
Q2 2010 756.39 (0.04) (0.04) 8.75
Q3 2010 756.39 (0.04) (0.04) 8.74
Q4 2010 756.39 (0.05) (0.05) 8.73
Q1 2011 756.39 (0.05) (0.05) 8.72
Q2 2011 756.39 (0.05) (0.05) 8.70
Q3 2011 929.40 (0.04) (0.04) 9.77
Q4 2011 929.40 (0.04) (0.04) 9.76
Q1 2012 929.40 (0.05) (0.05) 9.74
Q2 2012 929.40 (0.05) (0.05) 9.73
Q3 2012 929.40 (0.06) (0.06) 9.71
Q4 2012 929.40 (0.06) (0.06) 9.70
Q1 2013 929.40 (0.05) (0.05) 9.70
Q2 2013 929.40 (0.04) (0.04) 9.61
Q3 2013 929.40 (0.03) (0.03) 9.65
Q4 2013 929.40 (0.08) (0.08) 9.62
Q1 2014 929.40 (0.07) (0.07) 9.60
Q2 2014 929.40 (0.07) (0.07) 9.60
Q3 2014 929.40 (0.07) (0.07) 9.57
Q4 2014 929.40 0.46 0.46 10.01
Q1 2015 929.40 0.62 0.62 10.11
Q2 2015 929.40 0.69 0.69 10.19
Q3 2015 929.40 0.70 0.70 10.24
Q4 2015 929.40 0.10 0.10 10.10
Q1 2016 929.40 (0.14) (0.14) 10.14
Q2 2016 929.40 (0.20) (0.29) 10.03
Q3 2016 929.40 (0.14) (0.23) 10.08
Q4 2016 929.40 (0.08) (0.17) 10.97
Q1 2017 929.40 0.06 (0.03) 10.96
Q2 2017 929.40 (0.01) (0.01) 11.02
Q3 2017 929.40 (0.72) (0.72) 10.96
Q4 2017 - - - -
Q1 2018 929.40 - - 10.18
Q2 2018 929.40 - - 10.02
Q3 2018 929.40 - - 10.52
Q4 2018 929.40 0.21 0.21 10.52
Q1 2019 929.40 0.35 0.14 10.34

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2010 NEG NEG 3.16
Q2 2010 NEG NEG 2.89
Q3 2010 NEG NEG 2.87
Q4 2010 NEG NEG 2.76
Q1 2011 NEG NEG 2.42
Q2 2011 NEG NEG 2.41
Q3 2011 NEG NEG 1.55
Q4 2011 NEG NEG 1.58
Q1 2012 NEG NEG 2.51
Q2 2012 NEG NEG 2.25
Q3 2012 NEG NEG 2.39
Q4 2012 NEG NEG 2.49
Q1 2013 NEG NEG 3.35
Q2 2013 NEG NEG 3.77
Q3 2013 NEG NEG 4.03
Q4 2013 NEG NEG 3.86
Q1 2014 NEG NEG 5.43
Q2 2014 NEG NEG 6.06
Q3 2014 NEG NEG 6.98
Q4 2014 More than 100 More than 100 6.66
Q1 2015 More than 100 More than 100 9.54
Q2 2015 More than 100 More than 100 9.26
Q3 2015 More than 100 More than 100 7.96
Q4 2015 More than 100 More than 100 6.98
Q1 2016 NEG NEG 7.02
Q2 2016 NEG NEG 7.98
Q3 2016 NEG NEG 6.40
Q4 2016 NEG NEG 8.65
Q1 2017 More than 100 NEG 7.88
Q2 2017 NEG NEG 8.48
Q3 2017 NEG NEG 7.79
Q4 2017 - - -
Q1 2018 - - 6.30
Q2 2018 - - 5.19
Q3 2018 - - 4.72
Q4 2018 More than 100 More than 100 4.15
Q1 2019 More than 100 More than 100 3.94

Business Segments (Million)

Compared With The
Period Operating Hotels Commercial center Properties for development and sale
Q1 2014 - 23.86 -
Q2 2014 - 26.57 -
Q3 2014 - 26.79 -
Q4 2014 61.63 27.92 564.40
Q1 2015 27.91 31.75 179.50
Q2 2015 27.16 32.39 175.40
Q3 2015 46.50 30.42 115.60
Q4 2015 76.09 36.71 -
Q1 2016 57.38 35.83 11.30
Q2 2016 163.57 2.87 -
Q4 2016 124.33 - 989.30
Q1 2017 93.63 21.84 196.00
Q2 2017 202.86 19.38 100.88
Q3 2017 168.45 31.74 -
Q4 2017 116.23 30.17 -
Q1 2018 114.54 27.59 -
Q2 2018 215.15 35.10 -
Q3 2018 182.41 34.68 1,105.57
Q4 2018 111.34 32.44 103.83
Q1 2019 106.69 34.20 36.73


Financial Ratios
Current
Market Cap (M Riyal) 24,615.26
Enterprise Value (EV) (M) 36,461.63
Shares Outstanding ((M)) 1,180.02
EPS ( Riyal) (TTM) (0.30)
Book Value (BV) ( Riyal) 10.89
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 1.96
Return on Average Assets (%) (TTM) (1.27 )
Return on Average Equity (%) (TTM) (2.76 )
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Share Price

Jabal Omar Development Co.
20.86
0.26 1.26 %

Jabal Omar Development Co. (JABAL OMAR)

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