Financial Results : Fitaihi Group posts higher net profit at SAR 19.3m in I1 of 2013

Fitaihi Group posts higher net profit at SAR 19.3m in I1 of 2013

31/03/2013 Argaam Exclusive

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Fitaihi Holding Group, specialized in jewelry and precious metals retail, reported SAR 19.3m net profit at the end of the first quarter of 2013, compared to 17.7m in the same period last year, as shown in the following table:



Current Quarter Comparison (M)

Compared With The
Item Q1 2012 Q1 2013 Change‬
Revenues 68.09 66.80 (1.9 %)
Gross Income 34.99 32.75 (6.4 %)
Operating Income 15.07 10.15 (32.7 %)
Net Income 17.73 19.32 8.9 %
Average Shares 275.00 275.00 -
EPS (Riyals) 0.06 0.07 8.9 %


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2004 30.56 24.6 % 8.22 1.4 % (0.12) (115.1 %)
Q2 2004 38.62 51.3 % 13.32 63.3 % 3.35 332.6 %
Q3 2004 21.51 13.9 % 7.76 26.8 % 3.88 22.2 %
Q4 2004 42.04 14.5 % 17.52 5.5 % 2.78 (66.7 %)
Q1 2005 29.65 (3.0 %) 10.58 28.7 % 1.35 1197.6 %
Q2 2005 31.72 (17.9 %) 13.95 4.7 % 3.43 2.4 %
Q3 2005 16.51 (23.2 %) 8.12 4.6 % 0.65 (83.3 %)
Q4 2005 41.97 (0.2 %) 17.66 0.8 % 6.36 128.9 %
Q1 2006 21.89 (26.2 %) 8.36 (21.0 %) 0.26 (80.7 %)
Q2 2006 30.98 (2.3 %) 13.79 (1.2 %) 0.71 (79.5 %)
Q3 2006 19.51 18.2 % 9.77 20.4 % 0.46 (29.6 %)
Q4 2006 38.11 (9.2 %) 16.60 (6.0 %) 4.39 (31.1 %)
Q1 2007 23.29 6.4 % 10.89 30.3 % 0.03 (89.2 %)
Q2 2007 35.60 14.9 % 14.94 8.4 % (13.94) (2077.3 %)
Q3 2007 19.78 1.4 % 8.74 (10.6 %) (2.18) (576.4 %)
Q4 2007 40.90 7.3 % 16.21 (2.3 %) 4.96 13.1 %
Q1 2008 39.03 67.6 % 16.13 48.1 % 4.43 15717.9 %
Q2 2008 63.88 79.5 % 26.77 79.2 % 9.39 167.4 %
Q3 2008 51.24 159.0 % 23.13 164.7 % 8.24 478.6 %
Q4 2008 40.11 (1.9 %) 17.29 6.7 % 2.08 (58.2 %)
Q1 2009 36.84 (5.6 %) 17.02 5.6 % 4.21 (4.9 %)
Q2 2009 40.21 (37.1 %) 17.92 (33.1 %) 5.59 (40.5 %)
Q3 2009 40.72 (20.5 %) 17.90 (22.6 %) 2.89 (65.0 %)
Q4 2009 34.30 (14.5 %) 15.86 (8.3 %) (0.30) (114.4 %)
Q1 2010 36.05 (2.1 %) 17.29 1.6 % 3.76 (10.9 %)
Q2 2010 36.13 (10.1 %) 17.30 (3.4 %) 1.89 (66.1 %)
Q3 2010 46.52 14.2 % 21.05 17.6 % 4.88 69.2 %
Q4 2010 47.47 38.4 % 22.22 40.1 % 6.62 2312.7 %
Q1 2011 49.57 37.5 % 23.48 35.8 % 8.60 129.1 %
Q2 2011 61.55 70.4 % 29.59 71.1 % 9.21 386.1 %
Q3 2011 48.85 5.0 % 26.09 24.0 % 7.28 49.0 %
Q4 2011 46.85 (1.3 %) 23.60 6.2 % (0.80) (112.1 %)
Q1 2012 68.09 37.4 % 34.99 49.0 % 15.07 75.3 %
Q2 2012 61.68 0.2 % 32.63 10.2 % 10.34 12.3 %
Q3 2012 57.95 18.6 % 29.49 13.0 % 7.61 4.7 %
Q4 2012 66.28 41.5 % 26.65 12.9 % 6.87 957.9 %
Q1 2013 66.80 (1.9 %) 32.75 (6.4 %) 10.15 (32.7 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2004 5.27 906.5 % 0.02 - 5.27 0.02
Q2 2004 9.25 28.5 % 0.04 - 9.25 0.04
Q3 2004 0.07 113.3 % 0.00 - 0.07 0.00
Q4 2004 0.43 (92.5 %) 0.00 - 0.43 0.00
Q1 2005 4.82 (8.6 %) 0.02 - 4.82 0.02
Q2 2005 2.75 (70.3 %) 0.01 - 2.75 0.01
Q3 2005 (0.53) (858.6 %) 0.00 - (0.53) 0.00
Q4 2005 6.86 1490.7 % 0.02 - 6.86 0.02
Q1 2006 5.06 4.9 % 0.02 - 5.06 0.02
Q2 2006 2.65 (3.4 %) 0.01 - 2.65 0.01
Q3 2006 0.22 141.2 % 0.00 - 0.22 0.00
Q4 2006 3.11 (54.6 %) 0.01 - 3.11 0.01
Q1 2007 0.31 (93.8 %) 0.00 - 0.31 0.00
Q2 2007 (3.36) (226.7 %) (0.01) - (3.36) (0.01)
Q3 2007 (1.97) (1000.5 %) (0.01) - (1.97) (0.01)
Q4 2007 5.85 88.0 % 0.02 - 5.85 0.02
Q1 2008 8.66 2667.1 % 0.03 - 8.66 0.03
Q2 2008 13.99 516.5 % 0.05 - 13.99 0.05
Q3 2008 2.70 236.9 % 0.01 - 2.70 0.01
Q4 2008 (6.18) (205.6 %) (0.02) - (6.18) (0.02)
Q1 2009 6.36 (26.6 %) 0.02 - 6.36 0.02
Q2 2009 4.81 (65.6 %) 0.02 - 4.81 0.02
Q3 2009 1.59 (41.2 %) 0.01 - 1.59 0.01
Q4 2009 (2.44) 60.4 % (0.01) - (2.44) (0.01)
Q1 2010 12.70 99.8 % 0.05 1.46 11.24 0.04
Q2 2010 2.08 (56.9 %) 0.01 (1.46) 3.54 0.01
Q3 2010 2.48 56.1 % 0.01 - 2.48 0.01
Q4 2010 4.50 284.0 % 0.02 - 4.50 0.02
Q1 2011 13.20 3.9 % 0.05 - 13.20 0.05
Q2 2011 9.80 372.0 % 0.04 - 9.80 0.04
Q3 2011 5.34 115.3 % 0.02 - 5.34 0.02
Q4 2011 (74.60) (1758.4 %) (0.27) (64.33) (10.27) (0.04)
Q1 2012 17.73 34.4 % 0.06 - 17.73 0.06
Q2 2012 11.68 19.2 % 0.04 - 11.68 0.04
Q3 2012 6.44 20.6 % 0.02 - 6.44 0.02
Q4 2012 (1.77) 97.6 % (0.01) (6.20) 4.43 0.02
Q1 2013 19.32 8.9 % 0.07 - 19.32 0.07

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2004 35.01 % 17.39 % 15.85 %
Q2 2004 35.47 % 18.06 % 15.83 %
Q3 2004 36.03 % 18.38 % 15.97 %
Q4 2004 35.27 % 13.44 % 11.32 %
Q1 2005 37.31 % 14.62 % 11.05 %
Q2 2005 39.87 % 15.44 % 6.46 %
Q3 2005 41.83 % 13.34 % 6.23 %
Q4 2005 41.98 % 16.21 % 11.59 %
Q1 2006 42.90 % 16.32 % 12.60 %
Q2 2006 43.04 % 13.96 % 12.60 %
Q3 2006 43.36 % 13.41 % 12.93 %
Q4 2006 43.91 % 12.16 % 9.99 %
Q1 2007 45.62 % 11.95 % 5.63 %
Q2 2007 44.80 % 12.73 % 0.24 %
Q3 2007 43.81 % 10.38 % (1.63 %)
Q4 2007 42.47 % (3.29 %) 0.69 %
Q1 2008 41.40 % 0.44 % 6.78 %
Q2 2008 41.47 % 5.19 % 16.22 %
Q3 2008 42.16 % 10.46 % 16.00 %
Q4 2008 42.89 % 17.53 % 9.87 %
Q1 2009 43.85 % 17.68 % 8.78 %
Q2 2009 44.75 % 17.73 % 4.57 %
Q3 2009 44.42 % 14.86 % 4.17 %
Q4 2009 45.17 % 14.21 % 6.78 %
Q1 2010 45.59 % 13.99 % 10.04 %
Q2 2010 46.43 % 11.96 % 9.46 %
Q3 2010 46.73 % 12.84 % 9.68 %
Q4 2010 46.86 % 15.75 % 13.09 %
Q1 2011 46.78 % 17.10 % 13.20 %
Q2 2011 46.97 % 18.34 % 14.61 %
Q3 2011 48.87 % 19.12 % 15.83 %
Q4 2011 49.69 % 15.62 % 8.73 %
Q1 2012 50.71 % 17.72 % 10.03 %
Q2 2012 52.03 % 18.71 % 10.86 %
Q3 2012 51.46 % 18.63 % 10.91 %
Q4 2012 48.72 % 20.58 % 15.86 %
Q1 2013 48.08 % 18.62 % 16.57 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2004 228.30 0.08 0.08 1.48
Q2 2004 228.30 0.09 0.09 1.47
Q3 2004 228.30 0.09 0.09 1.47
Q4 2004 228.30 0.07 0.07 1.46
Q1 2005 228.30 0.06 0.06 1.47
Q2 2005 228.30 0.04 0.04 1.43
Q3 2005 228.30 0.03 0.03 1.43
Q4 2005 275.00 0.05 0.05 2.28
Q1 2006 275.00 0.05 0.05 2.29
Q2 2006 275.00 0.05 0.05 2.28
Q3 2006 275.00 0.05 0.05 2.28
Q4 2006 275.00 0.04 0.04 2.28
Q1 2007 275.00 0.02 0.02 2.28
Q2 2007 275.00 0.00 0.00 2.26
Q3 2007 275.00 (0.01) (0.01) 2.26
Q4 2007 275.00 0.00 0.00 2.32
Q1 2008 275.00 0.03 0.03 2.37
Q2 2008 275.00 0.10 0.10 2.40
Q3 2008 275.00 0.11 0.11 2.17
Q4 2008 275.00 0.07 0.07 2.04
Q1 2009 275.00 0.06 0.06 2.12
Q2 2009 275.00 0.03 0.03 2.19
Q3 2009 275.00 0.02 0.02 2.25
Q4 2009 275.00 0.04 0.04 2.22
Q1 2010 275.00 0.06 0.06 2.35
Q2 2010 275.00 0.05 0.05 2.30
Q3 2010 275.00 0.05 0.05 2.37
Q4 2010 275.00 0.08 0.08 2.40
Q1 2011 275.00 0.08 0.09 2.40
Q2 2011 275.00 0.11 0.11 2.39
Q3 2011 275.00 0.12 0.12 2.37
Q4 2011 275.00 (0.17) 0.07 2.31
Q1 2012 275.00 (0.15) 0.08 2.30
Q2 2012 275.00 (0.14) 0.09 2.28
Q3 2012 275.00 (0.14) 0.09 2.39
Q4 2012 275.00 0.12 0.15 2.41
Q1 2013 275.00 0.13 0.15 2.30

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2004 36.63 36.63 1.92
Q2 2004 33.25 33.25 1.95
Q3 2004 37.83 37.83 2.29
Q4 2004 53.31 53.31 2.40
Q1 2005 45.78 45.78 1.99
Q2 2005 More than 100 More than 100 3.58
Q3 2005 More than 100 More than 100 4.40
Q4 2005 More than 100 More than 100 3.09
Q1 2006 92.36 92.36 2.07
Q2 2006 More than 100 More than 100 2.47
Q3 2006 More than 100 More than 100 3.69
Q4 2006 95.05 95.05 1.67
Q1 2007 More than 100 More than 100 1.27
Q2 2007 More than 100 More than 100 1.40
Q3 2007 NEG NEG 2.43
Q4 2007 More than 100 More than 100 2.37
Q1 2008 83.93 83.93 1.18
Q2 2008 32.09 32.09 1.29
Q3 2008 19.37 19.37 1.01
Q4 2008 23.42 23.42 0.80
Q1 2009 28.00 28.00 0.81
Q2 2009 More than 100 More than 100 1.55
Q3 2009 More than 100 More than 100 1.27
Q4 2009 61.07 61.07 1.03
Q1 2010 35.79 39.23 0.92
Q2 2010 38.39 38.39 0.85
Q3 2010 33.77 33.77 0.77
Q4 2010 24.07 24.07 0.79
Q1 2011 21.15 19.85 0.71
Q2 2011 17.69 17.69 0.81
Q3 2011 15.49 15.49 0.78
Q4 2011 NEG 32.05 0.91
Q1 2012 NEG 42.48 1.52
Q2 2012 NEG 24.87 0.97
Q3 2012 NEG 29.56 1.15
Q4 2012 20.54 17.38 1.06
Q1 2013 20.35 17.33 1.15

Business Segments (Million)

Compared With The
Period Business Activities Investment activity

Current
Market Cap (M Riyal) 1,119.25
Enterprise Value (EV) (M) 1,113.27
Shares Outstanding ((M)) 275.00
EPS ( Riyal) (TTM) 0.04
Book Value (BV) ( Riyal) 1.71
Par Value ( Riyal) 1.00
Adjusted P/E (Last12) More than 100
P/E (TTM) More than 100
Price/book 2.38
Return on Average Assets (%) (TTM) 2.5
Return on Average Equity (%) (TTM) 2.6

Share Price

4.07
(0.02) (0.49 %)

Fitaihi Holding Group (FITAIHI GROUP)


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