Financial Results : Baazeem’s net profit edges up 1% in H1 2017

Baazeem’s net profit edges up 1% in H1 2017

08/08/2017 Argaam Exclusive

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Baazeem Trading Co. reported a net profit of SAR 16.9 million for the first half of this year, a 1.6 percent year-on-year (YoY) increase attributed to reducing procurement costs, as well as expanding the company’s network of suppliers, and a decrease in other expenses.



Financials (M)

Item 6m 2016 6m 2017 Change‬
Revenues 174.41 171.59 (1.6 %)
Gross Income 75.06 74.66 (0.5 %)
Operating Income 20.12 20.05 (0.4 %)
Net Income 16.59 17.81 7.3 %
Average Shares 101.25 101.25 -
EPS (Riyals) 0.16 0.18 7.3 %

The Nomu-listed company posted a net profit of SAR 10.6 million in Q2, slightly down by about 0.5 percent YoY. The company saw reduced procurement costs and a decline in other expenses, such as foreign exchange losses, during the quarter.

 

Net profit in Q2 rose 71 percent compared to the previous quarter on an increase in sales during the Ramadan season. 



Current Quarter Comparison (M)

Compared With The
Item Q2 2016 Q2 2017 Change‬
Revenues 96.96 95.25 (1.8 %)
Gross Income 41.83 48.57 16.1 %
Operating Income 13.51 13.08 (3.2 %)
Net Income 10.70 11.45 7.0 %
Average Shares 101.25 101.25 -
EPS (Riyals) 0.11 0.11 7.0 %


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2008 - - - - - -
Q2 2008 - - - - - -
Q3 2008 - - - - - -
Q4 2008 - - - - - -
Q1 2009 - - - - - -
Q2 2009 - - - - - -
Q3 2009 - - - - - -
Q4 2009 - - - - - -
Q1 2010 - - - - - -
Q2 2010 - - - - - -
Q3 2010 - - - - - -
Q4 2010 - - - - - -
Q1 2011 - - - - - -
Q2 2011 - - - - - -
Q3 2011 - - - - - -
Q4 2011 - - - - - -
Q1 2012 - - - - - -
Q2 2012 - - - - - -
Q3 2012 - - - - - -
Q4 2012 - - - - - -
Q1 2013 - - - - - -
Q2 2013 - - - - - -
Q3 2013 - - - - - -
Q4 2013 - - - - - -
Q1 2014 - - - - - -
Q2 2014 - - - - - -
Q3 2014 - - - - - -
Q4 2014 - - - - - -
Q1 2015 - - - - - -
Q2 2015 - - - - - -
Q3 2015 77.25 - 33.87 - 12.20 -
Q4 2015 104.19 - 45.12 - 9.27 -
Q1 2016 77.45 - 33.22 - 6.62 -
Q2 2016 96.96 - 41.83 - 13.51 -
Q3 2016 75.39 (2.4 %) 31.35 (7.4 %) 6.39 (47.6 %)
Q4 2016 93.68 (10.1 %) 42.49 (5.8 %) 8.53 (7.9 %)
Q1 2017 76.35 (1.4 %) 26.08 (21.5 %) 6.97 5.4 %
Q2 2017 95.25 (1.8 %) 48.57 16.1 % 13.08 (3.2 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2008 - - - - - -
Q2 2008 - - - - - -
Q3 2008 - - - - - -
Q4 2008 - - - - - -
Q1 2009 - - - - - -
Q2 2009 - - - - - -
Q3 2009 - - - - - -
Q4 2009 - - - - - -
Q1 2010 - - - - - -
Q2 2010 - - - - - -
Q3 2010 - - - - - -
Q4 2010 - - - - - -
Q1 2011 - - - - - -
Q2 2011 - - - - - -
Q3 2011 - - - - - -
Q4 2011 - - - - - -
Q1 2012 - - - - - -
Q2 2012 - - - - - -
Q3 2012 - - - - - -
Q4 2012 - - - - - -
Q1 2013 - - - - - -
Q2 2013 - - - - - -
Q3 2013 - - - - - -
Q4 2013 - - - - - -
Q1 2014 - - - - - -
Q2 2014 - - - - - -
Q3 2014 - - - - - -
Q4 2014 - - - - - -
Q1 2015 - - - - - -
Q2 2015 - - - - - -
Q3 2015 10.86 - 0.11 - 10.86 0.11
Q4 2015 9.07 - 0.09 - 9.07 0.09
Q1 2016 5.89 - 0.06 - 5.89 0.06
Q2 2016 10.70 - 0.11 - 10.70 0.11
Q3 2016 7.23 (33.5 %) 0.07 - 7.23 0.07
Q4 2016 9.38 3.4 % 0.09 - 9.38 0.09
Q1 2017 6.36 7.9 % 0.06 - 6.36 0.06
Q2 2017 11.45 7.0 % 0.11 - 11.45 0.11

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2008 - - -
Q2 2008 - - -
Q3 2008 - - -
Q4 2008 - - -
Q1 2009 - - -
Q2 2009 - - -
Q3 2009 - - -
Q4 2009 - - -
Q1 2010 - - -
Q2 2010 - - -
Q3 2010 - - -
Q4 2010 - - -
Q1 2011 - - -
Q2 2011 - - -
Q3 2011 - - -
Q4 2011 - - -
Q1 2012 - - -
Q2 2012 - - -
Q3 2012 - - -
Q4 2012 - - -
Q1 2013 - - -
Q2 2013 - - -
Q3 2013 - - -
Q4 2013 - - -
Q1 2014 - - -
Q2 2014 - - -
Q3 2014 - - -
Q4 2014 - - -
Q1 2015 - - -
Q2 2015 - - -
Q3 2015 - - -
Q4 2015 - - -
Q1 2016 - - -
Q2 2016 43.29 % 11.98 % 10.26 %
Q3 2016 42.80 % 10.50 % 9.29 %
Q4 2016 43.35 % 10.63 % 9.67 %
Q1 2017 41.40 % 10.81 % 9.83 %
Q2 2017 43.59 % 10.79 % 10.10 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2008 - - - -
Q2 2008 - - - -
Q3 2008 - - - -
Q4 2008 - - - -
Q1 2009 - - - -
Q2 2009 - - - -
Q3 2009 - - - -
Q4 2009 - - - -
Q1 2010 - - - -
Q2 2010 - - - -
Q3 2010 - - - -
Q4 2010 - - - -
Q1 2011 - - - -
Q2 2011 - - - -
Q3 2011 - - - -
Q4 2011 - - - -
Q1 2012 - - - -
Q2 2012 - - - -
Q3 2012 - - - -
Q4 2012 - - - -
Q1 2013 - - - -
Q2 2013 - - - -
Q3 2013 - - - -
Q4 2013 - - - -
Q1 2014 - - - -
Q2 2014 - - - -
Q3 2014 - - - -
Q4 2014 - - - -
Q1 2015 - - - -
Q2 2015 - - - -
Q3 2015 101.25 - - 1.64
Q4 2015 101.25 - - 1.72
Q1 2016 101.25 - - 1.77
Q2 2016 101.25 0.36 0.36 1.67
Q3 2016 101.25 0.32 0.32 1.74
Q4 2016 101.25 0.33 0.33 1.83
Q1 2017 101.25 0.33 0.33 1.89
Q2 2017 101.25 0.34 0.34 1.80

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2008 - - -
Q2 2008 - - -
Q3 2008 - - -
Q4 2008 - - -
Q1 2009 - - -
Q2 2009 - - -
Q3 2009 - - -
Q4 2009 - - -
Q1 2010 - - -
Q2 2010 - - -
Q3 2010 - - -
Q4 2010 - - -
Q1 2011 - - -
Q2 2011 - - -
Q3 2011 - - -
Q4 2011 - - -
Q1 2012 - - -
Q2 2012 - - -
Q3 2012 - - -
Q4 2012 - - -
Q1 2013 - - -
Q2 2013 - - -
Q3 2013 - - -
Q4 2013 - - -
Q1 2014 - - -
Q2 2014 - - -
Q3 2014 - - -
Q4 2014 - - -
Q1 2015 - - -
Q2 2015 - - -
Q3 2015 - - -
Q4 2015 - - -
Q1 2016 - - -
Q2 2016 - - -
Q3 2016 - - -
Q4 2016 - - -
Q1 2017 10.46 10.46 1.84
Q2 2017 7.68 7.68 1.45


Financial Ratios
Current
Market Cap (M Riyal) 688.50
Enterprise Value (EV) (M) 674.84
Shares Outstanding ((M)) 101.25
EPS ( Riyal) (TTM) 0.22
Book Value (BV) ( Riyal) 1.92
Par Value ( Riyal) 1.00
Adjusted P/E (Last12) 30.99
P/E (TTM) 30.99
Price/book 3.55
Return on Average Assets (%) (TTM) 9.1
Return on Average Equity (%) (TTM) 11.6
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