Financial Results : Anaam turns to SAR 3.9M loss in 9M 2024; Q3 at SAR 8.1M

Anaam turns to SAR 3.9M loss in 9M 2024; Q3 at SAR 8.1M

28/10/2024 Argaam Exclusive

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Anaam International Holding Group turned to a net loss of SAR 3.9 million for the first nine months of 2024, versus earnings of SAR 6.1 million in the prior-year period



Financials (M)

Item 9m 2023 9m 2024 Change‬
Revenues 37.07 34.43 (7.1 %)
Gross Income 23.18 20.65 (10.9 %)
Operating Income 8.52 (0.71) (108.3 %)
Net Income 6.14 (3.86) (162.8 %)
Average Shares 630.00 630.00 -
EPS (Halala) 0.98 (0.61) (162.8 %)

The company attributed the lossmaking to a 14% year-on-year (YoY) decline in revenue from Saudi Wasit Factory for Entertainment & Beauty Systems. Besides, 9M 2023 had included gains realized from the revaluation of real estate investments.

 

General and administrative expenses as well as finance costs increased YoY in 9M 2024. Other income also dropped on a yearly basis for the same period.

 

Anaam also posted SAR 8.1 million losses in Q3 2024, against earnings of SAR 630,000 a year earlier.

 

Sequentially, the third-quarter losses widened from SAR 400,000 in Q2 2024.



Current Quarter Comparison (M)

Compared With The
Item Q3 2023 Q3 2024 Change‬
Revenues 14.19 11.16 (21.3 %)
Gross Income 9.53 6.55 (31.3 %)
Operating Income 3.89 (4.81) (223.9 %)
Net Income 0.63 (8.05) (1369.9 %)
Average Shares 630.00 630.00 -
EPS (Halala) 0.10 (1.28) (1369.9 %)

Shareholders’ equity, excluding minority interest, grew to SAR 282.18 million by the end of Sept. 30, 2024, compared to SAR 280.80 million in the year-earlier period.

 

Accumulated losses reached SAR 29.52 million at the end of the nine-month period, representing 9% of the company’s capital.

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Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
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 %
Q3 2022 10.61 445.9 % 6.17 780.5 % 0.98 130.6 %
Q4 2022 10.32 445.3 % 6.84 1079.7 % (7.40) 13.5 %
Q1 2023 10.97 240.7 % 6.38 2196.0 % 2.01 131.4 %
Q2 2023 11.91 200.1 % 7.27 3609.7 % 2.63 234.1 %
Q3 2023 14.19 33.8 % 9.53 54.4 % 3.89 294.7 %
Q4 2023 14.09 36.5 % 9.68 41.4 % 0.11 101.5 %
Q1 2024 11.52 5.0 % 7.03 10.1 % 1.80 (10.4 %)
Q2 2024 11.75 (1.4 %) 7.08 (2.6 %) 2.31 (12.1 %)
Q3 2024 11.16 (21.3 %) 6.55 (31.3 %) (4.81) (223.9 %)


Profit Performance (Million)

Period Net Income Change EPS(Halala) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
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
Q3 2022 8.11 (63.1 %) 1.29 1.42 6.69 0.01
Q4 2022 (39.32) (139.3 %) (6.24) (26.76) (12.56) (0.02)
Q1 2023 3.33 (17.4 %) 0.53 1.10 2.24 0.00
Q2 2023 2.18 290.1 % 0.35 - 2.18 0.00
Q3 2023 0.63 (92.2 %) 0.10 - 0.63 0.00
Q4 2023 6.09 115.5 % 0.97 - 6.09 0.01
Q1 2024 4.59 37.8 % 0.73 4.50 0.10 0.00
Q2 2024 (0.40) (118.3 %) (0.06) - (0.40) 0.00
Q3 2024 (8.05) (1369.9 %) (1.28) - (8.05) (0.01)

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
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 %)
Q3 2022 36.71 % (60.35 %) (38.39 %)
Q4 2022 47.98 % (36.55 %) (13.14 %)
Q1 2023 54.64 % (5.39 %) 9.72 %
Q2 2023 60.89 % 6.04 % (3.33 %)
Q3 2023 63.36 % 11.74 % (15.86 %)
Q4 2023 64.23 % 25.11 % 21.77 %
Q1 2024 64.79 % 24.37 % 17.40 %
Q2 2024 64.63 % 23.44 % 12.46 %
Q3 2024 62.52 % 6.83 % (4.67 %)


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Halala) Adjusted EPS (Halala) Book Value (BV)
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
Q3 2022 630.00 (0.86) (1.20) 0.50
Q4 2022 630.00 (4.50) (0.59) 0.44
Q1 2023 630.00 (4.61) 0.55 0.44
Q2 2023 630.00 (4.08) (0.23) 0.44
Q3 2023 630.00 (5.27) (1.19) 0.45
Q4 2023 630.00 1.94 1.77 0.46
Q1 2024 630.00 2.14 1.43 0.46
Q2 2024 630.00 1.73 1.02 0.46
Q3 2024 630.00 0.35 (0.36) 0.45

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
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
Q3 2022 NEG NEG 2.34
Q4 2022 NEG NEG 2.37
Q1 2023 NEG More than 100 2.41
Q2 2023 NEG NEG 2.90
Q3 2023 NEG NEG 2.29
Q4 2023 46.86 51.47 1.98
Q1 2024 49.49 74.20 2.30
Q2 2024 72.13 More than 100 2.71
Q3 2024 More than 100 NEG 2.59

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 -
Q3 2022 6.69 1.96 1.39 0.56 -
Q1 2023 6.26 3.33 1.37 - -
Q2 2023 6.41 4.28 1.21 - -
Q3 2023 6.54 6.55 1.10 - -
Q1 2024 6.34 4.02 1.16 - -
Q2 2024 6.34 4.11 1.29 - -
Q3 2024 6.09 3.74 1.34 - -


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
1.25
0.01 0.81 %

Anaam International Holding Group (ANAAM HOLDING)

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