Financial Results : Anaam swings to profit of SAR 2.9 mln in H1 2022; Q2 loss at SAR 1.2 mln

Anaam swings to profit of SAR 2.9 mln in H1 2022; Q2 loss at SAR 1.2 mln

26/09/2022 Argaam Exclusive

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Anaam International Holding Group turned to a net profit of SAR 2.9 million for the first half of 2022, against a net loss of SAR 1.8 million in the year-earlier period.



Financials (M)

Item 6m 2021 6m 2022 Change‬
Revenues 3.90 7.19 84.2 %
Gross Income 1.33 0.47 (64.3 %)
Operating Income (5.27) (8.34) (58.3 %)
Net Income (1.82) 2.89 258.6 %
Average Shares 622.01 630.00 1.3 %
EPS (Halala) (0.29) 0.46 256.6 %

The positive results were driven by increased revenue of the newly-acquired entity, revaluation of investment properties and gains from the other investments. This came despite a 64% plunge year-on-year (YoY) in gross profit, due to the higher cost of sales for the newly-acquired entity. Overall, the cost of sales increased by 161% YoY despite an 84% rise in revenue.

 

In Q2 2022, Anaam turned to net losses of SAR 1.2 million, from a net profit of SAR 650,000 in the prior-year period, on the higher cost of sales related to the newly-acquired entity and lower fair value of other investments. 

 

Anaam turned to a loss from a profit of SAR 3.52 million in Q1 2022. 



Current Quarter Comparison (M)

Compared With The
Item Q2 2021 Q2 2022 Change‬
Revenues 1.91 3.97 108.3 %
Gross Income 0.60 0.20 (67.3 %)
Operating Income (2.52) (1.96) 22.2 %
Net Income 0.65 (1.15) (276.8 %)
Average Shares 622.01 630.00 1.3 %
EPS (Halala) 0.10 (0.18) (274.6 %)

Total shareholders’ equity, after minority interest, stood at SAR 307.761 million as of June 30, 2022, compared to SAR 84.329 million a year earlier.

 

Accumulated losses reached SAR 7.239 million, representing 2.3% of capital, as of June 30, 2022.

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Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2013 52.40 14.3 % 3.84 (46.7 %) (4.78) (1213.3 %)
Q2 2013 52.74 2.3 % 5.32 (43.6 %) (6.58) (451.7 %)
Q3 2013 57.71 2.5 % 2.87 (82.2 %) (4.23) (153.5 %)
Q4 2013 29.20 (33.2 %) (12.89) (332.9 %) (31.46) (973.9 %)
Q1 2014 28.90 (44.8 %) (2.10) (154.7 %) (8.79) (84.1 %)
Q2 2014 28.56 (45.9 %) 6.77 27.3 % (1.00) 84.8 %
Q3 2014 32.03 (44.5 %) 2.62 (8.7 %) (0.57) 86.6 %
Q4 2014 14.01 (52.0 %) 5.45 142.2 % 0.38 101.2 %
Q1 2015 13.54 (53.1 %) 3.68 275.0 % (0.04) 99.6 %
Q2 2015 29.36 2.8 % 11.50 69.8 % 7.38 838.6 %
Q3 2015 32.77 2.3 % 15.45 490.3 % 10.53 1961.0 %
Q4 2015 13.29 (5.1 %) 7.38 35.5 % 2.68 605.0 %
Q1 2016 9.79 (27.7 %) (0.59) (116.0 %) (4.56) (11,592.3 %)
Q2 2016 25.81 (12.1 %) 8.69 (24.4 %) 5.34 (27.6 %)
Q3 2016 17.21 (47.5 %) 0.63 (95.9 %) (2.49) (123.6 %)
Q4 2016 13.61 2.4 % (7.75) (205.1 %) (13.37) (599.2 %)
Q1 2017 4.74 (51.6 %) (0.96) (63.0 %) (4.62) (1.4 %)
Q2 2017 13.82 (46.5 %) (1.61) (118.5 %) (5.21) (197.6 %)
Q3 2017 15.63 (9.2 %) (3.70) (684.7 %) (7.15) (187.3 %)
Q4 2017 9.15 (32.8 %) (4.10) 47.1 % (10.18) 23.9 %
Q1 2018 5.21 9.9 % (2.49) (159.1 %) (5.89) (27.4 %)
Q2 2018 14.88 7.6 % 5.02 412.3 % 2.21 142.3 %
Q3 2018 15.90 1.7 % (0.21) 94.3 % (3.00) 58.0 %
Q4 2018 4.74 (48.2 %) (4.91) (19.6 %) (8.70) 14.6 %
Q1 2019 2.55 (51.0 %) (2.61) (4.9 %) (4.90) 16.8 %
Q2 2019 1.79 (88.0 %) 0.29 (94.3 %) (1.87) (184.8 %)
Q3 2019 2.05 (87.1 %) 0.51 341.2 % (1.29) 56.9 %
Q4 2019 2.03 (57.2 %) (8.57) (74.7 %) (14.00) (61.0 %)
Q1 2020 3.30 29.4 % 1.27 148.7 % (0.78) 84.0 %
Q2 2020 1.58 (11.6 %) 0.17 (42.5 %) (1.33) 28.7 %
Q3 2020 1.50 (26.7 %) (0.65) (227.3 %) (2.21) (71.1 %)
Q4 2020 1.81 (10.6 %) 0.45 105.2 % (4.39) 68.6 %
Q1 2021 2.00 (39.5 %) 0.73 (42.8 %) (2.75) (252.0 %)
Q2 2021 1.91 20.6 % 0.60 263.6 % (2.52) (89.0 %)
Q3 2021 1.94 29.5 % 0.70 208.2 % (3.22) (45.5 %)
Q4 2021 1.89 4.4 % 0.58 30.3 % (8.56) (95.0 %)
Q1 2022 3.22 61.2 % 0.28 (61.8 %) (6.39) (131.9 %)
Q2 2022 3.97 108.3 % 0.20 (67.3 %) (1.96) 22.2 %


Profit Performance (Million)

Period Net Income Change EPS(Halala) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2013 (5.58) (1811.3 %) (0.90) - (5.58) (0.01)
Q2 2013 (7.91) (564.8 %) (1.28) - (7.91) (0.01)
Q3 2013 (7.53) (206.9 %) (1.22) - (7.53) (0.01)
Q4 2013 (11.57) (4354.8 %) (1.87) 16.14 (27.71) (0.04)
Q1 2014 (7.54) (35.1 %) (1.22) - (7.54) (0.01)
Q2 2014 (1.77) 77.6 % (0.29) - (1.77) 0.00
Q3 2014 (2.59) 65.6 % (0.42) - (2.59) 0.00
Q4 2014 (13.81) (19.4 %) (2.24) (14.99) 1.17 0.00
Q1 2015 1.52 120.2 % 0.25 - 1.52 0.00
Q2 2015 6.84 485.9 % 1.11 - 6.84 0.01
Q3 2015 10.48 504.7 % 1.70 - 10.48 0.02
Q4 2015 2.11 115.3 % 0.34 - 2.11 0.00
Q1 2016 (2.83) (285.6 %) (0.46) - (2.83) 0.00
Q2 2016 4.98 (27.1 %) 0.81 - 4.98 0.01
Q3 2016 (2.81) (126.8 %) (0.46) - (2.81) 0.00
Q4 2016 (12.72) (702.6 %) (2.06) (1.95) (10.77) (0.02)
Q1 2017 (4.57) (61.5 %) (0.74) - (4.57) (0.01)
Q2 2017 (5.55) (211.4 %) (0.90) - (5.55) (0.01)
Q3 2017 (7.33) (160.7 %) (1.19) - (7.33) (0.01)
Q4 2017 (10.32) 18.9 % (1.67) - (10.32) (0.02)
Q1 2018 (5.64) (23.4 %) (0.91) - (5.64) (0.01)
Q2 2018 2.14 138.6 % 0.35 - 2.14 0.00
Q3 2018 (2.84) 61.2 % (0.46) - (2.84) 0.00
Q4 2018 (8.67) 16.0 % (1.40) - (8.67) (0.01)
Q1 2019 (4.22) 25.2 % (0.68) - (4.22) (0.01)
Q2 2019 (3.87) (280.3 %) (0.63) - (3.87) (0.01)
Q3 2019 (2.78) 2.3 % (0.45) - (2.78) 0.00
Q4 2019 (86.90) (902.5 %) (14.08) - (86.90) (0.14)
Q1 2020 (0.50) 88.2 % (0.08) - (0.50) 0.00
Q2 2020 0.35 108.9 % 0.06 - 0.35 0.00
Q3 2020 (1.14) 58.8 % (0.19) - (1.14) 0.00
Q4 2020 (4.70) 94.6 % (0.75) - (4.70) (0.01)
Q1 2021 (2.47) (394.6 %) (0.40) - (2.47) 0.00
Q2 2021 0.65 87.3 % 0.10 - 0.65 0.00
Q3 2021 21.99 2023.4 % 3.53 24.57 (2.59) 0.00
Q4 2021 (16.43) (249.9 %) (2.64) - (16.43) (0.03)
Q1 2022 4.03 263.4 % 0.65 8.97 (4.94) (0.01)
Q2 2022 (1.15) (276.8 %) (0.18) (8.27) 7.12 0.01

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2013 17.09 % 6.69 % 1.69 %
Q2 2013 14.99 % 3.01 % (3.01 %)
Q3 2013 8.50 % (2.39 %) (10.04 %)
Q4 2013 (0.45 %) (17.40 %) (25.37 %)
Q1 2014 (4.04 %) (21.27 %) (30.07 %)
Q2 2014 (3.71 %) (16.08 %) (30.86 %)
Q3 2014 (4.72 %) (12.64 %) (33.37 %)
Q4 2014 12.30 % 32.58 % (10.37 %)
Q1 2015 21.00 % 46.94 % (1.89 %)
Q2 2015 26.13 % 60.05 % 7.81 %
Q3 2015 40.23 % 55.04 % 22.32 %
Q4 2015 42.73 % 74.40 % 23.55 %
Q1 2016 39.60 % 73.05 % 19.48 %
Q2 2016 37.89 % 64.22 % 18.06 %
Q3 2016 24.38 % 80.83 % 2.20 %
Q4 2016 1.49 % 18.63 % (17.20 %)
Q1 2017 1.00 % 19.43 % (21.45 %)
Q2 2017 (19.61 %) 12.12 % (47.99 %)
Q3 2017 (29.33 %) 11.88 % (59.04 %)
Q4 2017 (23.93 %) 14.36 % (64.08 %)
Q1 2018 (27.16 %) 11.38 % (65.83 %)
Q2 2018 (11.76 %) 17.29 % (47.12 %)
Q3 2018 (3.96 %) 15.71 % (36.90 %)
Q4 2018 (6.36 %) 16.93 % (36.84 %)
Q1 2019 (7.12 %) 19.57 % (35.69 %)
Q2 2019 (29.79 %) (23.15 %) (78.46 %)
Q3 2019 (60.40 %) (17.74 %) (175.53 %)
Q4 2019 (123.46 %) (123.74 %) (1162.23 %)
Q1 2020 (70.97 %) (99.01 %) (1026.49 %)
Q2 2020 (73.98 %) (59.43 %) (1003.18 %)
Q3 2020 (92.54 %) (172.62 %) (1048.89 %)
Q4 2020 15.06 % (54.02 %) (73.12 %)
Q1 2021 10.00 % (83.02 %) (115.55 %)
Q2 2021 15.58 % (86.10 %) (106.15 %)
Q3 2021 32.30 % (83.57 %) (118.87 %)
Q4 2021 33.71 % (163.59 %) (269.29 %)
Q1 2022 24.10 % (182.93 %) (260.16 %)
Q2 2022 15.92 % (144.16 %) (152.71 %)


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Halala) Adjusted EPS (Halala) Book Value (BV)
Q1 2013 617.32 0.56 0.56 0.35
Q2 2013 617.32 (1.00) (1.00) 0.34
Q3 2013 617.32 (3.36) (3.36) 0.33
Q4 2013 617.32 (5.28) (7.89) 0.31
Q1 2014 617.32 (5.60) (8.21) 0.30
Q2 2014 617.32 (4.60) (7.22) 0.29
Q3 2014 617.32 (3.80) (6.42) 0.29
Q4 2014 617.32 (4.17) (1.74) 0.27
Q1 2015 617.32 (2.70) (0.27) 0.26
Q2 2015 617.32 (1.30) 1.13 0.28
Q3 2015 617.32 0.81 3.24 0.30
Q4 2015 617.32 3.39 3.39 0.29
Q1 2016 617.32 2.69 2.69 0.27
Q2 2016 617.32 2.39 2.39 0.28
Q3 2016 617.32 0.24 0.24 0.28
Q4 2016 617.32 (2.17) (1.85) 0.26
Q1 2017 617.32 (2.45) (2.13) 0.26
Q2 2017 617.32 (4.16) (3.84) 0.25
Q3 2017 617.32 (4.89) (4.57) 0.24
Q4 2017 617.32 (4.50) (4.50) 0.21
Q1 2018 617.32 (4.67) (4.67) 0.20
Q2 2018 617.32 (3.42) (3.42) 0.21
Q3 2018 617.32 (2.70) (2.70) 0.20
Q4 2018 617.32 (2.43) (2.43) 0.18
Q1 2019 617.32 (2.20) (2.20) 0.18
Q2 2019 617.32 (3.17) (3.17) 0.17
Q3 2019 617.32 (3.16) (3.16) 0.17
Q4 2019 617.32 (15.84) (15.84) 0.03
Q1 2020 617.32 (15.23) (15.23) 0.02
Q2 2020 617.32 (14.55) (14.55) 0.03
Q3 2020 617.32 (14.29) (14.29) 0.02
Q4 2020 622.01 (0.96) (0.96) 0.14
Q1 2021 622.01 (1.28) (1.28) 0.14
Q2 2021 622.01 (1.23) (1.23) 0.14
Q3 2021 622.01 2.49 (1.46) 0.20
Q4 2021 622.01 0.60 (3.35) 0.17
Q1 2022 622.01 1.65 (3.75) 0.18
Q2 2022 630.00 1.34 (2.67) 0.49

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2013 More than 100 More than 100 5.11
Q2 2013 NEG NEG 4.74
Q3 2013 NEG NEG 4.49
Q4 2013 NEG NEG 4.99
Q1 2014 NEG NEG 5.48
Q2 2014 NEG NEG 6.26
Q3 2014 NEG NEG 6.52
Q4 2014 NEG NEG 4.79
Q1 2015 NEG NEG 4.95
Q2 2015 NEG More than 100 4.66
Q3 2015 More than 100 27.96 3.05
Q4 2015 29.75 29.75 3.44
Q1 2016 31.26 31.26 3.08
Q2 2016 34.48 34.48 2.93
Q3 2016 More than 100 More than 100 2.14
Q4 2016 NEG NEG 3.11
Q1 2017 NEG NEG 3.19
Q2 2017 NEG NEG 2.99
Q3 2017 NEG NEG 3.10
Q4 2017 NEG NEG 3.26
Q1 2018 NEG NEG 2.76
Q2 2018 NEG NEG 2.67
Q3 2018 NEG NEG 2.41
Q4 2018 NEG NEG 3.60
Q1 2019 NEG NEG 3.15
Q2 2019 NEG NEG 2.56
Q3 2019 NEG NEG 2.50
Q4 2019 NEG NEG 22.83
Q1 2020 NEG NEG 18.53
Q2 2020 NEG NEG 20.06
Q3 2020 NEG NEG 41.79
Q4 2020 NEG NEG 13.65
Q1 2021 NEG NEG 15.86
Q2 2021 NEG NEG 16.12
Q3 2021 87.02 NEG 10.89
Q4 2021 More than 100 NEG 9.99
Q1 2022 More than 100 NEG 9.51
Q2 2022 82.81 NEG 2.27

Business Segments (Million)

Compared With The
Period Rental of buildings and others Entertainment and beauty Warehouse management and leasing Medical supplies Agricultural activities
Q1 2022 0.68 1.44 1.09 - -
Q2 2022 0.74 1.75 0.84 0.64 -


Financial Ratios
Current
Market Cap (M Riyal) 781.20
Enterprise Value (EV) (M) 924.58
Shares Outstanding ((M)) 630.00
EPS (Halala) (TTM) 0.35
Book Value (BV) ( Riyal) 0.45
Par Value ( Halala) 50.00
Adjusted P/E (Last12) Neg
P/E (TTM) More than 100
Price/book 2.77
Return on Average Assets (%) (TTM) 0.4
Return on Average Equity (%) (TTM) 0.8
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Share Price

Anaam International Holding Group
1.24
0.00 0.00 %

Anaam International Holding Group (ANAAM HOLDING)

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