Financial Results : Alhokair Group trims 9M 2023 loss to SAR 22.3 mln, earns SAR 7.2 mln in Q3

Alhokair Group trims 9M 2023 loss to SAR 22.3 mln, earns SAR 7.2 mln in Q3

07/11/2023 Argaam Exclusive

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Abdulmohsen Alhokair Group for Tourism and Development narrowed its net loss in the first nine months of 2023 by 60.6% to SAR 22.3 million from SAR 56.4 million a year earlier.



Financials (M)

Item 9m 2022 9m 2023 Change‬
Revenues 520.94 578.31 11.0 %
Gross Income 97.31 141.18 45.1 %
Operating Income (36.39) 21.76 159.8 %
Net Income (56.43) (22.25) 60.6 %
Average Shares 315.00 315.00 -
Earnings Per Share before unusual items (Riyals) (0.25) (0.10) 60.4 %
EPS (Riyals) (0.18) (0.07) 60.6 %

Revenues increased by 11% year-on-year (YoY) to SAR 578.31 million and gross profit rose by 45.1% to SAR 141.18 million. Operating profit also increased by SAR 60.66 million to SAR 26.27 million compared to an operating loss of SAR 34.39 million mainly due to an increase in gross profit.



Current Quarter Comparison (M)

Compared With The
Item Q3 2022 Q3 2023 Change‬
Revenues 176.50 213.39 20.9 %
Gross Income 46.36 59.94 29.3 %
Operating Income 3.12 19.95 539.6 %
Net Income 11.22 7.15 (36.3 %)
Average Shares 315.00 315.00 -
Earnings Per Share before unusual items (Riyals) (0.04) 0.00 88.9 %
EPS (Riyals) 0.04 0.02 (36.3 %)

The third-quarter net earnings fell by 36% YoY to SAR 7.2 million.

 

This was due to higher cost of finance. Although revenues leapt by 20.9% YoY to SAR 213.39 million and gross profit rose 29.3% YoY to SAR 13.58 million.

 

Sequentially, Q3 net profit leapt 44.6% from SAR 4.9 million in Q2 2023.

 

Total shareholders’ equity, no minority interest, stood at SAR 269.45 million as of Sept. 30, 2023, compared to SAR 315.4 million in a prior-year period.

 

Accumulated losses came in at SAR 46.87 million as of Sept. 30, 2023, representing 14.88% of the company’s capital.

View More Financial Results

 


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items Earnings Per Share before unusual items
Q1 2014 52.06 8.9 % 0.23 - 52.06 0.23
Q2 2014 51.61 (4.8 %) 0.23 - 51.61 0.23
Q3 2014 42.58 30.8 % 0.19 - 42.58 0.19
Q4 2014 50.24 (17.5 %) 0.22 - 50.24 0.22
Q1 2015 57.60 10.6 % 0.25 - 57.60 0.25
Q2 2015 43.08 (16.5 %) 0.19 - 43.08 0.19
Q3 2015 57.20 34.3 % 0.25 - 57.20 0.25
Q4 2015 31.90 (36.5 %) 0.14 - 31.90 0.14
Q1 2016 49.16 (14.7 %) 0.22 - 49.16 0.22
Q2 2016 16.50 (61.7 %) 0.07 - 16.50 0.07
Q3 2016 55.80 (2.5 %) 0.25 - 55.80 0.25
Q4 2016 4.85 (84.8 %) 0.02 - 4.85 0.02
Q1 2017 7.99 (83.7 %) 0.04 - 7.99 0.04
Q2 2017 14.83 (10.1 %) 0.07 - 14.83 0.07
Q3 2017 9.00 (83.9 %) 0.04 - 9.00 0.04
Q4 2017 (23.14) (577.2 %) (0.10) - (23.14) (0.10)
Q1 2018 (7.52) (194.1 %) (0.03) - (7.52) (0.03)
Q2 2018 3.10 (79.1 %) 0.01 - 3.10 0.01
Q3 2018 1.93 (78.6 %) 0.01 - 1.93 0.01
Q4 2018 (73.56) (217.9 %) (0.32) (24.50) (49.06) (0.22)
Q1 2019 (32.06) (326.3 %) (0.14) - (32.06) (0.14)
Q2 2019 0.63 (79.9 %) 0.00 - 0.63 0.00
Q3 2019 (15.52) (904.9 %) (0.07) - (15.52) (0.07)
Q4 2019 (96.03) (30.6 %) (0.42) (48.41) (47.62) (0.21)
Q1 2020 2.11 106.6 % 0.01 - 2.11 0.01
Q2 2020 2.07 231.0 % 0.01 76.88 (74.82) (0.33)
Q3 2020 (109.32) (604.5 %) (0.48) (14.40) (94.92) (0.42)
Q4 2020 (95.01) 1.1 % (0.42) (13.90) (81.11) (0.36)
Q1 2021 (60.10) (2953.9 %) (0.27) - (60.10) (0.27)
Q2 2021 (69.95) (3480.9 %) (0.31) (30.68) (39.27) (0.17)
Q3 2021 6.18 105.7 % 0.02 38.19 (32.00) (0.10)
Q4 2021 (49.84) 47.5 % (0.16) (25.37) (24.48) (0.08)
Q1 2022 (31.99) 46.8 % (0.10) - (31.99) (0.10)
Q2 2022 (35.66) 49.0 % (0.11) - (35.66) (0.11)
Q3 2022 11.22 81.5 % 0.04 22.33 (11.11) (0.04)
Q4 2022 (25.06) 49.7 % (0.08) - (25.06) (0.08)
Q1 2023 (34.34) (7.4 %) (0.11) - (34.34) (0.11)
Q2 2023 4.94 113.9 % 0.02 0.56 4.38 0.01
Q3 2023 7.15 (36.3 %) 0.02 8.38 (1.23) 0.00


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2014 232.60 6.6 % 90.43 8.6 % 47.23 11.2 %
Q2 2014 241.06 3.9 % 88.93 (0.2 %) 47.43 (3.5 %)
Q3 2014 245.49 13.0 % 90.59 30.3 % 40.00 37.4 %
Q4 2014 232.47 9.2 % 86.37 2.5 % 47.55 (2.9 %)
Q1 2015 278.05 19.5 % 113.50 25.5 % 55.24 17.0 %
Q2 2015 275.62 14.3 % 97.93 10.1 % 35.22 (25.7 %)
Q3 2015 316.63 29.0 % 118.98 31.3 % 52.91 32.3 %
Q4 2015 275.59 18.5 % 91.39 5.8 % 27.55 (42.1 %)
Q1 2016 297.81 7.1 % 106.25 (6.4 %) 45.54 (17.6 %)
Q2 2016 279.87 1.5 % 82.22 (16.0 %) 12.15 (65.5 %)
Q3 2016 336.89 6.4 % 123.75 4.0 % 57.19 8.1 %
Q4 2016 258.96 (6.0 %) 61.95 (32.2 %) 5.49 (80.1 %)
Q1 2017 258.31 (13.3 %) 64.45 (39.3 %) 5.90 (87.0 %)
Q2 2017 289.40 3.4 % 77.59 (5.6 %) 10.72 (11.8 %)
Q3 2017 316.08 (6.2 %) 79.58 (35.7 %) 7.25 (87.3 %)
Q4 2017 260.30 0.5 % 46.90 (24.3 %) (17.23) (413.8 %)
Q1 2018 271.00 4.9 % 56.98 (11.6 %) (7.35) (224.5 %)
Q2 2018 307.62 6.3 % 70.13 (9.6 %) (1.24) (111.5 %)
Q3 2018 315.52 (0.2 %) 75.35 (5.3 %) 0.64 (91.2 %)
Q4 2018 256.82 (1.3 %) 25.07 (46.5 %) (41.89) (143.1 %)
Q1 2019 260.73 (3.8 %) 59.70 4.8 % (3.31) 55.0 %
Q2 2019 298.93 (2.8 %) 84.31 20.2 % 18.16 1570.5 %
Q3 2019 301.85 (4.3 %) 82.85 10.0 % 13.46 2006.4 %
Q4 2019 248.51 (3.2 %) 45.22 80.3 % (19.92) 52.4 %
Q1 2020 231.05 (11.4 %) 81.29 36.2 % 28.54 963.2 %
Q2 2020 119.58 (60.0 %) (1.52) (101.8 %) (47.24) (360.1 %)
Q3 2020 113.23 (62.5 %) (41.57) (150.2 %) (90.29) (770.8 %)
Q4 2020 149.24 (39.9 %) 7.76 (82.8 %) (50.35) (152.7 %)
Q1 2021 140.99 (39.0 %) 2.04 (97.5 %) (41.94) (247.0 %)
Q2 2021 182.65 52.7 % 27.84 1937.5 % (19.92) 57.8 %
Q3 2021 191.01 68.7 % 40.59 197.7 % (14.49) 84.0 %
Q4 2021 193.76 29.8 % 33.30 329.4 % (7.80) 84.5 %
Q1 2022 172.38 22.3 % 27.48 1247.5 % (17.59) 58.1 %
Q2 2022 172.07 (5.8 %) 23.47 (15.7 %) (21.93) (10.1 %)
Q3 2022 176.50 (7.6 %) 46.36 14.2 % 3.12 121.5 %
Q4 2022 199.95 3.2 % 38.72 16.3 % (9.78) (25.4 %)
Q1 2023 163.84 (5.0 %) 25.22 (8.2 %) (17.38) 1.2 %
Q2 2023 201.08 16.9 % 56.02 138.7 % 19.19 187.5 %
Q3 2023 213.39 20.9 % 59.94 29.3 % 19.95 539.6 %

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2014 37.26 % 30.38 % 21.80 %
Q2 2014 36.86 % 29.92 % 21.29 %
Q3 2014 38.00 % 30.38 % 21.72 %
Q4 2014 37.44 % 30.06 % 20.65 %
Q1 2015 38.05 % 29.92 % 20.26 %
Q2 2015 37.65 % 28.14 % 18.76 %
Q3 2015 37.79 % 28.23 % 18.87 %
Q4 2015 36.81 % 25.81 % 16.56 %
Q1 2016 35.56 % 25.04 % 15.56 %
Q2 2016 34.09 % 23.40 % 13.23 %
Q3 2016 33.91 % 23.53 % 12.89 %
Q4 2016 31.88 % 22.41 % 10.76 %
Q1 2017 29.31 % 20.02 % 7.51 %
Q2 2017 28.66 % 19.98 % 7.30 %
Q3 2017 25.26 % 16.11 % 3.27 %
Q4 2017 23.89 % 14.34 % 0.77 %
Q1 2018 22.96 % 13.34 % (0.60 %)
Q2 2018 21.96 % 12.32 % (1.61 %)
Q3 2018 21.60 % 12.11 % (2.22 %)
Q4 2018 19.77 % 10.15 % (4.48 %)
Q1 2019 20.19 % 14.96 % (6.67 %)
Q2 2019 21.59 % 21.47 % (6.94 %)
Q3 2019 22.53 % 27.37 % (8.59 %)
Q4 2019 24.51 % 33.60 % (8.52 %)
Q1 2020 27.18 % 36.75 % (5.59 %)
Q2 2020 23.07 % 34.17 % (15.08 %)
Q3 2020 11.71 % 25.03 % (30.22 %)
Q4 2020 7.50 % 21.75 % (40.57 %)
Q1 2021 (6.36 %) 9.45 % (59.45 %)
Q2 2021 (0.67 %) 12.65 % (46.99 %)
Q3 2021 11.78 % 21.13 % (32.01 %)
Q4 2021 14.65 % 9.74 % (22.00 %)
Q1 2022 17.47 % 10.89 % (17.27 %)
Q2 2022 17.12 % 9.33 % (17.02 %)
Q3 2022 18.27 % 2.13 % (14.45 %)
Q4 2022 18.87 % 24.58 % (14.40 %)
Q1 2023 18.78 % 24.74 % (14.90 %)
Q2 2023 22.43 % 28.76 % (8.92 %)
Q3 2023 23.12 % 36.72 % (7.23 %)


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Earnings Per Share before unusual items (Riyal) Book Value (BV)
Q1 2014 226.54 0.88 0.86 3.27
Q2 2014 226.54 0.87 0.85 3.20
Q3 2014 226.54 0.91 0.89 3.08
Q4 2014 226.54 0.87 0.87 3.13
Q1 2015 226.54 0.89 0.89 3.39
Q2 2015 226.54 0.85 0.85 3.27
Q3 2015 226.54 0.92 0.92 3.53
Q4 2015 226.54 0.84 0.84 3.36
Q1 2016 226.54 0.80 0.80 2.95
Q2 2016 226.54 0.68 0.68 3.02
Q3 2016 226.54 0.68 0.68 3.11
Q4 2016 226.54 0.56 0.56 3.08
Q1 2017 226.54 0.38 0.38 3.07
Q2 2017 226.54 0.37 0.37 3.13
Q3 2017 226.54 0.16 0.16 3.17
Q4 2017 226.54 0.04 0.04 2.96
Q1 2018 226.54 (0.03) (0.03) 2.88
Q2 2018 226.54 (0.08) (0.08) 2.89
Q3 2018 226.54 (0.11) (0.11) 2.90
Q4 2018 226.54 (0.34) (0.23) 2.57
Q1 2019 226.54 (0.44) (0.34) 2.43
Q2 2019 226.54 (0.45) (0.35) 2.43
Q3 2019 226.54 (0.53) (0.42) 2.36
Q4 2019 226.54 (0.63) (0.42) 1.94
Q1 2020 226.54 (0.48) (0.27) 1.95
Q2 2020 226.54 (0.47) (0.60) 1.96
Q3 2020 226.54 (0.89) (0.95) 1.48
Q4 2020 226.54 (0.88) (1.10) 1.09
Q1 2021 226.54 (1.16) (1.37) 0.83
Q2 2021 226.54 (1.48) (1.22) 0.51
Q3 2021 315.00 (0.69) (0.67) 1.35
Q4 2021 315.00 (0.55) (0.49) 1.18
Q1 2022 315.00 (0.46) (0.41) 1.08
Q2 2022 315.00 (0.35) (0.39) 0.96
Q3 2022 315.00 (0.34) (0.33) 1.00
Q4 2022 315.00 (0.26) (0.33) 0.92
Q1 2023 315.00 (0.27) (0.34) 0.81
Q2 2023 315.00 (0.14) (0.21) 0.83
Q3 2023 315.00 (0.15) (0.18) 0.86

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2014 - - -
Q2 2014 23.07 23.63 6.27
Q3 2014 28.78 29.46 8.54
Q4 2014 20.68 20.68 5.73
Q1 2015 24.39 24.39 6.42
Q2 2015 29.97 29.97 7.82
Q3 2015 22.79 22.79 5.94
Q4 2015 23.77 23.77 5.92
Q1 2016 16.51 16.51 4.47
Q2 2016 17.99 17.99 4.07
Q3 2016 10.59 10.59 2.30
Q4 2016 20.76 20.76 3.75
Q1 2017 25.78 25.78 3.15
Q2 2017 24.63 24.63 2.90
Q3 2017 59.10 59.10 3.02
Q4 2017 More than 100 More than 100 2.52
Q1 2018 NEG NEG 2.21
Q2 2018 NEG NEG 2.40
Q3 2018 NEG NEG 2.03
Q4 2018 NEG NEG 2.03
Q1 2019 NEG NEG 2.13
Q2 2019 NEG NEG 1.75
Q3 2019 NEG NEG 1.90
Q4 2019 NEG NEG 2.46
Q1 2020 NEG NEG 1.54
Q2 2020 NEG NEG 2.15
Q3 2020 NEG NEG 3.45
Q4 2020 NEG NEG 5.85
Q1 2021 NEG NEG 8.43
Q2 2021 NEG NEG 13.81
Q3 2021 NEG NEG 3.52
Q4 2021 NEG NEG 3.02
Q1 2022 NEG NEG 3.12
Q2 2022 NEG NEG 2.54
Q3 2022 NEG NEG 2.16
Q4 2022 NEG NEG 1.94
Q1 2023 NEG NEG 3.08
Q2 2023 NEG NEG 3.32
Q3 2023 NEG NEG 2.60

Business Segments (Million)

Compared With The
Period Hotels sector Recreational centers sector Other sectors Disposals
Q1 2014 147.82 80.21 5.37 (0.80)
Q2 2014 158.09 78.81 4.94 (0.79)
Q3 2014 142.08 98.68 5.57 (0.84)
Q4 2014 144.34 83.69 5.28 (0.83)
Q1 2015 169.23 104.03 5.50 (0.70)
Q2 2015 177.58 93.11 5.58 (0.64)
Q3 2015 178.24 133.24 5.82 (0.67)
Q4 2015 177.93 89.39 9.14 (0.86)
Q1 2016 179.29 108.87 9.65 -
Q2 2016 174.97 96.54 8.35 -
Q3 2016 170.76 157.25 8.88 -
Q4 2016 153.81 96.23 8.92 -
Q1 2017 145.66 103.18 9.48 -
Q2 2017 165.94 114.04 9.42 -
Q3 2017 160.63 144.94 10.51 -
Q4 2017 141.06 106.92 12.32 -
Q1 2018 149.34 108.02 13.64 -
Q2 2018 183.71 109.66 14.26 -
Q3 2018 172.72 127.08 15.72 -
Q4 2018 144.26 99.06 13.50 -
Q1 2019 142.46 100.10 18.18 -
Q2 2019 158.30 123.81 16.82 -
Q3 2019 160.17 124.82 16.87 -
Q4 2019 135.49 100.41 12.61 -
Q1 2020 134.54 83.01 13.50 -
Q2 2020 115.34 2.99 1.24 -
Q3 2020 64.04 39.19 10.01 -
Q4 2020 81.40 57.91 9.93 -
Q1 2021 81.98 50.31 8.71 -
Q2 2021 92.43 80.62 9.60 -
Q3 2021 99.51 82.15 9.36 -
Q4 2021 107.97 74.40 11.40 -
Q1 2022 97.20 65.90 9.29 -
Q2 2022 85.32 77.13 9.62 -
Q3 2022 79.73 88.05 8.72 -
Q4 2022 94.56 96.65 8.74 -
Q1 2023 96.70 59.33 7.81 -
Q2 2023 94.81 95.08 11.19 -
Q3 2023 89.62 113.69 10.07 -


Financial Ratios
Current
Market Cap (M Riyal) 768.60
Enterprise Value (EV) (M) 1,180.33
Shares Outstanding ((M)) 315.00
EPS ( Riyal) (TTM) (0.16)
Book Value (BV) ( Riyal) 0.70
Par Value ( Riyal) 1.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 3.47
Return on Average Assets (%) (TTM) (2.46 )
Return on Average Equity (%) (TTM) (20.25 )
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Share Price

BAAN Holding Group Co.
2.44
(0.02) (0.81 %)

BAAN Holding Group Co. (BAAN)

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