Financial Results : Jarir H1 profit up 19% to SAR 402 mln

Jarir H1 profit up 19% to SAR 402 mln

08/07/2015 Argaam Exclusive

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Jarir Marketing Company, which operates Jarir Bookstores in Saudi Arabia, reported SAR 401.9 million in net profit in H1-2015, a 19 percent increase compared to the same period last year.



Financials (M)

Item 6m 2014 6m 2015 Change‬
Revenues 2,688.28 3,315.27 23.3 %
Gross Income 408.71 474.88 16.2 %
Operating Income 333.24 394.82 18.5 %
Net Income 336.56 401.88 19.4 %
Average Shares 1,200.00 1,200.00 -
EPS (Riyals) 0.28 0.33 19.4 %

 

When compared to the same period last year, the company saw better profit in Q2, which was attributed to higher sales in all sectors, particularly electronics. It also recorded lower general and administrative expenses and bank charges.

 

During the period, Jarir opened three new branches to increase the number of its showrooms from 35 to 38.

 

Second quarter profit, however, fell 37.29 percent when compared to Q1-2015 due to low seasonal demand for some of its products, particularly school supplies.



Current Quarter Comparison (M)

Compared With The
Item Q2 2014 Q2 2015 Change‬
Revenues 1,289.43 1,405.76 9.0 %
Gross Income 173.66 191.37 10.2 %
Operating Income 133.31 151.70 13.8 %
Net Income 135.23 154.86 14.5 %
Average Shares 1,200.00 1,200.00 -
EPS (Riyals) 0.11 0.13 14.5 %


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2006 390.82 43.3 % 83.55 56.7 % 72.51 68.9 %
Q2 2006 319.65 22.0 % 54.53 37.7 % 43.80 54.4 %
Q3 2006 446.76 23.8 % 98.22 29.2 % 83.76 31.5 %
Q4 2006 348.15 10.8 % 61.88 10.6 % 42.07 0.7 %
Q1 2007 428.49 9.6 % 88.95 6.5 % 79.16 9.2 %
Q2 2007 394.51 23.4 % 69.45 27.4 % 55.58 26.9 %
Q3 2007 477.65 6.9 % 101.24 3.1 % 89.33 6.7 %
Q4 2007 440.58 26.5 % 72.36 16.9 % 52.82 25.6 %
Q1 2008 597.65 39.5 % 120.72 35.7 % 100.27 26.7 %
Q2 2008 617.40 56.5 % 91.47 31.7 % 69.92 25.8 %
Q3 2008 636.72 33.3 % 109.92 8.6 % 92.35 3.4 %
Q4 2008 668.15 51.7 % 112.89 56.0 % 86.68 64.1 %
Q1 2009 662.06 10.8 % 126.50 4.8 % 106.61 6.3 %
Q2 2009 572.96 (7.2 %) 102.47 12.0 % 79.43 13.6 %
Q3 2009 595.80 (6.4 %) 120.53 9.7 % 94.16 2.0 %
Q4 2009 724.48 8.4 % 136.87 21.2 % 104.26 20.3 %
Q1 2010 795.47 20.2 % 142.97 13.0 % 117.54 10.3 %
Q2 2010 671.97 17.3 % 98.82 (3.6 %) 74.74 (5.9 %)
Q3 2010 735.32 23.4 % 126.84 5.2 % 102.63 9.0 %
Q4 2010 811.80 12.1 % 132.95 (2.9 %) 100.77 (3.3 %)
Q1 2011 945.63 18.9 % 162.68 13.8 % 135.53 15.3 %
Q2 2011 968.26 44.1 % 127.80 29.3 % 97.22 30.1 %
Q3 2011 1,208.91 64.4 % 183.99 45.1 % 150.90 47.0 %
Q4 2011 1,024.52 26.2 % 159.15 19.7 % 122.89 21.9 %
Q1 2012 1,196.21 26.5 % 190.19 16.9 % 160.77 18.6 %
Q2 2012 1,065.83 10.1 % 137.29 7.4 % 106.17 9.2 %
Q3 2012 1,189.84 (1.6 %) 193.39 5.1 % 160.05 6.1 %
Q4 2012 1,182.34 15.4 % 173.24 8.9 % 135.00 9.9 %
Q1 2013 1,329.98 11.2 % 210.75 10.8 % 179.70 11.8 %
Q2 2013 1,258.28 18.1 % 163.93 19.4 % 127.32 19.9 %
Q3 2013 1,334.15 12.1 % 218.87 13.2 % 184.54 15.3 %
Q4 2013 1,320.26 11.7 % 200.80 15.9 % 156.49 15.9 %
Q1 2014 1,398.85 5.2 % 235.05 11.5 % 199.92 11.3 %
Q2 2014 1,289.43 2.5 % 173.66 5.9 % 133.31 4.7 %
Q3 2014 1,426.25 6.9 % 237.37 8.5 % 201.05 9.0 %
Q4 2014 1,584.20 20.0 % 240.39 19.7 % 192.53 23.0 %
Q1 2015 1,909.51 36.5 % 283.51 20.6 % 243.11 21.6 %
Q2 2015 1,405.76 9.0 % 191.37 10.2 % 151.70 13.8 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2006 76.08 74.7 % 0.06 - 76.08 0.06
Q2 2006 43.90 49.6 % 0.04 - 43.90 0.04
Q3 2006 80.76 32.4 % 0.07 - 80.76 0.07
Q4 2006 42.55 0.5 % 0.04 - 42.55 0.04
Q1 2007 80.09 5.3 % 0.07 - 80.09 0.07
Q2 2007 54.35 23.8 % 0.05 - 54.35 0.05
Q3 2007 87.48 8.3 % 0.07 - 87.48 0.07
Q4 2007 54.33 27.7 % 0.05 - 54.33 0.05
Q1 2008 97.11 21.3 % 0.08 - 97.11 0.08
Q2 2008 67.08 23.4 % 0.06 - 67.08 0.06
Q3 2008 88.40 1.0 % 0.07 - 88.40 0.07
Q4 2008 80.18 47.6 % 0.07 - 80.18 0.07
Q1 2009 107.45 10.6 % 0.09 - 107.45 0.09
Q2 2009 72.41 8.0 % 0.06 - 72.41 0.06
Q3 2009 90.64 2.5 % 0.08 - 90.64 0.08
Q4 2009 103.47 29.0 % 0.09 - 103.47 0.09
Q1 2010 118.49 10.3 % 0.10 - 118.49 0.10
Q2 2010 75.77 4.6 % 0.06 - 75.77 0.06
Q3 2010 102.87 13.5 % 0.09 - 102.87 0.09
Q4 2010 103.62 0.1 % 0.09 - 103.62 0.09
Q1 2011 136.77 15.4 % 0.11 - 136.77 0.11
Q2 2011 98.52 30.0 % 0.08 - 98.52 0.08
Q3 2011 152.88 48.6 % 0.13 - 152.88 0.13
Q4 2011 124.82 20.5 % 0.10 - 124.82 0.10
Q1 2012 164.23 20.1 % 0.14 - 164.23 0.14
Q2 2012 106.98 8.6 % 0.09 - 106.98 0.09
Q3 2012 160.71 5.1 % 0.13 - 160.71 0.13
Q4 2012 137.91 10.5 % 0.11 - 137.91 0.11
Q1 2013 180.84 10.1 % 0.15 - 180.84 0.15
Q2 2013 126.22 18.0 % 0.11 - 126.22 0.11
Q3 2013 186.19 15.9 % 0.16 - 186.19 0.16
Q4 2013 160.03 16.0 % 0.13 - 160.03 0.13
Q1 2014 201.33 11.3 % 0.17 - 201.33 0.17
Q2 2014 135.23 7.1 % 0.11 - 135.23 0.11
Q3 2014 203.00 9.0 % 0.17 - 203.00 0.17
Q4 2014 205.81 28.6 % 0.17 - 205.81 0.17
Q1 2015 247.02 22.7 % 0.21 - 247.02 0.21
Q2 2015 154.86 14.5 % 0.13 - 154.86 0.13

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2006 19.22 % 16.40 % 15.72 %
Q2 2006 19.49 % 16.79 % 16.12 %
Q3 2006 19.86 % 17.09 % 16.52 %
Q4 2006 19.81 % 16.90 % 16.16 %
Q1 2007 19.67 % 16.92 % 16.03 %
Q2 2007 19.69 % 16.85 % 15.93 %
Q3 2007 19.50 % 16.86 % 16.04 %
Q4 2007 19.07 % 16.69 % 15.87 %
Q1 2008 19.04 % 16.32 % 15.35 %
Q2 2008 18.08 % 15.30 % 14.34 %
Q3 2008 17.21 % 14.37 % 13.39 %
Q4 2008 17.26 % 14.42 % 13.21 %
Q1 2009 17.06 % 14.32 % 13.28 %
Q2 2009 17.79 % 14.97 % 13.72 %
Q3 2009 18.50 % 15.33 % 14.03 %
Q4 2009 19.03 % 15.78 % 14.64 %
Q1 2010 18.70 % 15.42 % 14.32 %
Q2 2010 17.91 % 14.74 % 13.93 %
Q3 2010 17.27 % 14.34 % 13.68 %
Q4 2010 16.64 % 13.78 % 13.29 %
Q1 2011 16.47 % 13.70 % 13.24 %
Q2 2011 15.90 % 13.17 % 12.76 %
Q3 2011 15.44 % 12.82 % 12.50 %
Q4 2011 15.28 % 12.72 % 12.37 %
Q1 2012 15.03 % 12.57 % 12.29 %
Q2 2012 14.92 % 12.52 % 12.21 %
Q3 2012 15.19 % 12.79 % 12.44 %
Q4 2012 14.98 % 12.59 % 12.30 %
Q1 2013 14.99 % 12.66 % 12.30 %
Q2 2013 14.94 % 12.59 % 12.21 %
Q3 2013 15.02 % 12.69 % 12.36 %
Q4 2013 15.15 % 12.70 % 12.46 %
Q1 2014 15.41 % 12.97 % 12.68 %
Q2 2014 15.51 % 13.03 % 12.78 %
Q3 2014 15.58 % 13.14 % 12.87 %
Q4 2014 15.56 % 13.18 % 13.08 %
Q1 2015 15.06 % 12.79 % 12.74 %
Q2 2015 15.06 % 12.84 % 12.82 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2006 1,200.00 0.17 0.17 0.39
Q2 2006 1,200.00 0.19 0.19 0.42
Q3 2006 1,200.00 0.20 0.20 0.49
Q4 2006 1,200.00 0.20 0.20 0.53
Q1 2007 1,200.00 0.21 0.21 0.44
Q2 2007 1,200.00 0.21 0.21 0.49
Q3 2007 1,200.00 0.22 0.22 0.56
Q4 2007 1,200.00 0.23 0.23 0.51
Q1 2008 1,200.00 0.24 0.24 0.49
Q2 2008 1,200.00 0.26 0.26 0.55
Q3 2008 1,200.00 0.26 0.26 0.51
Q4 2008 1,200.00 0.28 0.28 0.57
Q1 2009 1,200.00 0.29 0.29 0.55
Q2 2009 1,200.00 0.29 0.29 0.55
Q3 2009 1,200.00 0.29 0.29 0.57
Q4 2009 1,200.00 0.31 0.31 0.60
Q1 2010 1,200.00 0.32 0.32 0.62
Q2 2010 1,200.00 0.32 0.32 0.61
Q3 2010 1,200.00 0.33 0.33 0.64
Q4 2010 1,200.00 0.33 0.33 0.66
Q1 2011 1,200.00 0.35 0.35 0.71
Q2 2011 1,200.00 0.37 0.37 0.70
Q3 2011 1,200.00 0.41 0.41 0.76
Q4 2011 1,200.00 0.43 0.43 0.76
Q1 2012 1,200.00 0.45 0.45 0.81
Q2 2012 1,200.00 0.46 0.46 0.79
Q3 2012 1,200.00 0.46 0.46 0.86
Q4 2012 1,200.00 0.47 0.47 0.86
Q1 2013 1,200.00 0.49 0.49 0.91
Q2 2013 1,200.00 0.50 0.50 0.90
Q3 2013 1,200.00 0.53 0.53 0.97
Q4 2013 1,200.00 0.54 0.54 0.98
Q1 2014 1,200.00 0.56 0.56 1.04
Q2 2014 1,200.00 0.57 0.57 1.02
Q3 2014 1,200.00 0.58 0.58 1.10
Q4 2014 1,200.00 0.62 0.62 1.13
Q1 2015 1,200.00 0.66 0.66 1.20
Q2 2015 1,200.00 0.68 0.68 1.16

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2006 24.63 24.63 11.04
Q2 2006 23.78 23.78 10.42
Q3 2006 21.32 21.32 8.78
Q4 2006 18.22 18.22 7.00
Q1 2007 17.23 17.23 7.99
Q2 2007 15.77 15.77 6.92
Q3 2007 17.30 17.30 6.78
Q4 2007 17.11 17.11 7.76
Q1 2008 16.32 16.32 8.16
Q2 2008 18.29 18.29 8.49
Q3 2008 17.25 17.25 8.73
Q4 2008 15.51 15.51 7.51
Q1 2009 14.84 14.84 7.72
Q2 2009 15.10 15.10 8.01
Q3 2009 15.54 15.54 7.93
Q4 2009 14.31 14.31 7.40
Q1 2010 15.09 15.09 7.75
Q2 2010 16.07 16.07 8.51
Q3 2010 15.88 15.88 8.22
Q4 2010 15.07 15.07 7.57
Q1 2011 13.70 13.70 6.72
Q2 2011 15.96 15.96 8.34
Q3 2011 13.95 13.95 7.48
Q4 2011 16.29 16.29 9.22
Q1 2012 17.10 17.10 9.48
Q2 2012 16.51 16.51 9.54
Q3 2012 16.57 16.57 8.99
Q4 2012 16.35 16.35 9.08
Q1 2013 16.73 16.73 8.95
Q2 2013 19.12 19.12 10.74
Q3 2013 21.98 21.98 11.93
Q4 2013 21.91 21.91 12.20
Q1 2014 27.52 27.52 14.86
Q2 2014 25.93 25.93 14.50
Q3 2014 25.92 25.92 13.78
Q4 2014 22.43 22.43 12.30
Q1 2015 25.01 25.01 13.73
Q2 2015 24.53 24.53 14.28

Business Segments (Million)

Compared With The
Period Retail sector Wholesale sector
Q1 2006 333.62 57.20
Q2 2006 297.07 22.58
Q3 2006 361.61 85.15
Q4 2006 325.95 22.20
Q1 2007 359.78 68.71
Q2 2007 366.64 27.87
Q3 2007 388.22 89.43
Q4 2007 404.07 36.52
Q1 2008 501.96 95.69
Q2 2008 574.68 42.72
Q3 2008 553.83 82.88
Q4 2008 600.72 67.43
Q1 2009 562.00 100.00
Q2 2009 530.00 43.00
Q3 2009 501.00 95.00
Q4 2009 663.00 61.00
Q1 2010 678.00 117.00
Q2 2010 627.00 45.00
Q3 2010 623.00 113.00
Q4 2010 753.00 59.00
Q1 2011 827.00 119.00
Q2 2011 917.00 51.00
Q3 2011 1,067.00 142.00
Q4 2011 960.00 64.00
Q1 2012 1,070.00 126.00
Q2 2012 1,009.00 57.00
Q3 2012 1,034.00 156.00
Q4 2012 1,092.00 90.00
Q1 2013 1,224.00 106.00
Q2 2013 1,203.00 55.00
Q3 2013 1,173.00 161.00
Q4 2013 1,229.00 92.00
Q1 2014 1,275.00 124.00
Q2 2014 1,230.00 59.00
Q3 2014 1,252.00 175.00
Q4 2014 1,486.00 98.00
Q1 2015 1,783.00 127.00
Q2 2015 1,345.00 60.00

Analysts Estimates (Million)

Item Q2 2015 (e) Q2 2015 (a) Change‬
Average 165.18 154.86 (6.2 %)

Estimates vs Actual (Million)

Item Q2 2015 (e) Q2 2015 (a) Change
Alistithmar Capital 154.60 154.86 0.2 %
Al Rajhi Capital 156.00 154.86 (0.7) %
SFC 156.00 154.86 (0.7) %
AlJazira Capital 158.80 154.86 (2.5) %
Albilad Capital 162.00 154.86 (4.4) %
SNB Capital 166.00 154.86 (6.7) %
OSOOL AND BAKHEET 167.00 154.86 (7.3) %
Riyad Capital 201.00 154.86 (23.0) %


Financial Ratios
Current
Market Cap (M Riyal) 15,216.00
Enterprise Value (EV) (M) 14,905.26
Shares Outstanding ((M)) 1,200.00
EPS ( Riyal) (TTM) 0.81
Book Value (BV) ( Riyal) 1.48
Par Value ( Riyal) 1.00
Adjusted P/E (Last12) 15.66
P/E (TTM) 15.66
Price/book 8.55
Return on Average Assets (%) (TTM) 23.5
Return on Average Equity (%) (TTM) 54.3
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Share Price

Jarir Marketing Co.
12.68
0.02 0.16 %

Jarir Marketing Co. (JARIR)

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