GACO net profit rises to SAR 7.3 mln in 2022; Q4 at SAR 8 mln

30/03/2023 Argaam Exclusive

View other reports

Share Price

Al Gassim Investment Holding Co. (GACO)

Al Gassim Investment Holding Co. (GACO) reported a net profit of SAR 7.3 million in 2022, an increase from a net profit of SAR 1.1 million a year earlier.



Financials (M)

Item 2021 2022 Change‬
Revenues 11.37 10.86 (4.5 %)
Gross Income 9.58 9.14 (4.6 %)
Operating Income 7.65 14.75 92.8 %
Net Income 1.09 7.05 546.7 %
Average Shares 30.00 30.00 -
EPS (Riyals) 0.04 0.23 546.7 %

The profit rise came due to an increase in reimbursements of impairment losses in the value of investment properties and lower general and administrative expenses.

 

Meanwhile, provisions and Zakat expenses increased.



Current Quarter Comparison (M)

Compared With The
Item Q4 2021 Q4 2022 Change‬
Revenues 2.82 2.66 (5.5 %)
Gross Income 2.36 2.24 (5.1 %)
Operating Income 7.72 15.38 99.3 %
Net Income 1.46 7.94 444.5 %
Average Shares 30.00 30.00 -
EPS (Riyals) 0.05 0.26 444.5 %

Q4 2022 net profit surged to SAR 8 million from SAR 1.5 million in Q4 2021.

 

Sequentially, net profit jumped from SAR 0.04 million in Q3 2022.

 

Total shareholders’ equity, no minority interest, stood at SAR 297.32 million as of Dec. 31, 2022, compared to SAR 289.85 million a year earlier.



Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Riyal)
Q1 2013 19.62 63.2 % (0.90) (225.0 %) (3.17) (143.8 %) (0.11)
Q2 2013 20.27 (6.2 %) 3.24 381.7 % 0.05 132.9 % 0.00
Q3 2013 18.97 (14.2 %) (0.71) 24.5 % (2.90) (25.4 %) (0.10)
Q4 2013 11.13 (30.4 %) (3.02) 44.6 % (6.25) 49.2 % (0.21)
Q1 2014 8.94 (54.4 %) (3.26) (262.6 %) (7.34) (131.4 %) (0.24)
Q2 2014 20.06 (1.1 %) 3.00 (7.4 %) 2.14 4446.8 % 0.07
Q3 2014 14.94 (21.2 %) 0.11 115.9 % (1.68) 42.3 % (0.06)
Q4 2014 9.29 (16.5 %) (1.19) 60.5 % (5.04) 19.4 % (0.17)
Q1 2015 8.14 (8.9 %) (0.78) 76.1 % (2.98) 59.5 % (0.10)
Q2 2015 14.13 (29.6 %) 2.23 (25.8 %) 0.47 (78.2 %) 0.02
Q3 2015 12.83 (14.1 %) (1.76) (1660.2 %) (4.18) (149.6 %) (0.14)
Q4 2015 11.44 23.2 % (0.97) 18.8 % 7.71 253.0 % 0.26
Q1 2016 8.08 (0.7 %) 0.57 173.2 % 95.31 3301.5 % 3.18
Q2 2016 5.57 (60.6 %) 3.32 49.0 % 3.03 551.6 % 0.10
Q3 2016 4.14 (67.7 %) 2.94 266.6 % 1.40 133.4 % 0.05
Q4 2016 4.34 (62.0 %) 2.85 394.2 % 59.07 666.2 % 1.97
Q1 2017 4.83 (40.2 %) 2.46 332.1 % 0.21 (99.8 %) 0.01
Q2 2017 4.37 (21.6 %) 2.48 (25.2 %) 0.71 (76.7 %) 0.02
Q3 2017 4.65 12.2 % 2.56 (12.8 %) 1.48 5.6 % 0.05
Q4 2017 4.02 (7.6 %) 2.46 (13.8 %) 0.96 (98.4 %) 0.03
Q1 2018 2.97 (38.5 %) 2.53 2.7 % 0.29 42.7 % 0.01
Q2 2018 2.97 (32.0 %) 2.55 2.9 % 0.98 37.9 % 0.03
Q3 2018 3.24 (30.3 %) 2.80 9.5 % 1.25 (15.3 %) 0.04
Q4 2018 2.97 (26.0 %) 2.54 3.5 % (10.23) (1170.0 %) (0.34)
Q1 2019 2.92 (1.6 %) 2.53 0.0 % 9.36 3082.7 % 0.31
Q2 2019 2.92 (1.6 %) 2.46 (3.8 %) 1.46 49.5 % 0.05
Q3 2019 3.22 (0.4 %) 2.77 (1.2 %) 4.71 277.3 % 0.16
Q4 2019 2.92 (1.6 %) 2.54 (0.1 %) (30.18) (195.0 %) (1.01)
Q1 2020 2.87 (1.7 %) 2.48 (1.8 %) 0.71 (92.4 %) 0.02
Q2 2020 2.87 (1.7 %) 2.46 0.1 % 0.54 (63.3 %) 0.02
Q3 2020 2.96 (8.3 %) 2.56 (7.6 %) (0.28) (106.0 %) (0.01)
Q4 2020 2.96 1.1 % 2.41 (5.1 %) (6.09) 79.8 % (0.20)
Q1 2021 2.82 (2.0 %) 2.36 (4.8 %) (0.02) (103.4 %) 0.00
Q2 2021 2.82 (1.9 %) 2.38 (3.2 %) (0.29) (154.8 %) (0.01)
Q3 2021 2.92 (1.3 %) 2.48 (3.1 %) (0.05) 81.6 % 0.00
Q4 2021 2.82 (4.6 %) 2.36 (2.1 %) 1.46 124.0 % 0.05
Q1 2022 2.66 (5.4 %) 2.22 (5.9 %) (0.52) (2,060.8 %) (0.02)
Q2 2022 2.66 (5.5 %) 2.24 (6.0 %) (0.36) (23.9 %) (0.01)
Q3 2022 2.87 (1.6 %) 2.45 (1.3 %) (0.01) 74.0 % 0.00
Q4 2022 2.66 (5.5 %) 2.24 (5.1 %) 7.94 444.5 % 0.26
2022 10.86 (4.5 %) 9.14 (4.6 %) 7.05 546.7 % 0.23

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2013 (10.64 %) (7.38 %) (52.82 %)
Q2 2013 (5.19 %) (11.88 %) (53.46 %)
Q3 2013 (5.10 %) 3.87 % (53.45 %)
Q4 2013 (1.99 %) 11.04 % (17.39 %)
Q1 2014 (6.33 %) 16.52 % (27.55 %)
Q2 2014 (6.76 %) 25.77 % (24.11 %)
Q3 2014 (5.76 %) 10.24 % (23.65 %)
Q4 2014 (2.52 %) 17.02 % (22.40 %)
Q1 2015 2.18 % 24.87 % (14.41 %)
Q2 2015 0.79 % 26.29 % (19.84 %)
Q3 2015 (3.40 %) 22.35 % (26.44 %)
Q4 2015 (2.76 %) 16.99 % (27.48 %)
Q1 2016 0.14 % 13.75 % (28.08 %)
Q2 2016 3.05 % 10.46 % (32.48 %)
Q3 2016 20.03 % 18.22 % (23.05 %)
Q4 2016 43.69 % 26.23 % 263.65 %
Q1 2017 61.23 % 35.02 % 327.27 %
Q2 2017 60.66 % 30.70 % 346.70 %
Q3 2017 56.90 % 27.81 % 337.49 %
Q4 2017 55.75 % 34.02 % 18.72 %
Q1 2018 62.64 % 41.04 % 21.45 %
Q2 2018 69.12 % 50.94 % 25.33 %
Q3 2018 78.32 % 61.57 % 26.32 %
Q4 2018 85.74 % (31.67 %) (63.43 %)
Q1 2019 86.08 % 33.51 % 11.17 %
Q2 2019 85.63 % 31.83 % 15.22 %
Q3 2019 85.45 % 25.77 % 43.99 %
Q4 2019 85.77 % (234.69 %) (143.60 %)
Q1 2020 85.75 % (307.67 %) (216.59 %)
Q2 2020 86.14 % (305.63 %) (225.28 %)
Q3 2020 86.32 % (308.93 %) (273.44 %)
Q4 2020 84.97 % (11.25 %) (43.98 %)
Q1 2021 84.36 % (18.78 %) (50.53 %)
Q2 2021 84.07 % (34.67 %) (57.94 %)
Q3 2021 83.65 % (45.07 %) (56.13 %)
Q4 2021 84.22 % 89.96 % 9.58 %
Q1 2022 84.11 % 86.91 % 5.31 %
Q2 2022 84.00 % 88.40 % 4.75 %
Q3 2022 84.07 % 87.17 % 5.12 %
Q4 2022 84.16 % 158.64 % 124.06 %
2022 84.16 % 158.63 % 124.04 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2013 30.00 (0.60) (1.40) 11.80
Q2 2013 30.00 (0.59) (1.39) 11.80
Q3 2013 30.00 (0.61) (1.33) 11.71
Q4 2013 30.00 (0.41) (0.41) 11.50
Q1 2014 30.00 (0.55) (0.54) 11.26
Q2 2014 30.00 (0.48) (0.48) 11.33
Q3 2014 30.00 (0.44) (0.43) 11.27
Q4 2014 30.00 (0.40) (0.40) 11.00
Q1 2015 30.00 (0.25) (0.25) 10.90
Q2 2015 30.00 (0.31) (0.31) 10.92
Q3 2015 30.00 (0.39) (0.39) 10.78
Q4 2015 30.00 0.03 (0.43) 11.03
Q1 2016 30.00 3.31 (0.44) 11.86
Q2 2016 30.00 3.40 (0.41) 11.90
Q3 2016 30.00 3.58 (0.22) 11.91
Q4 2016 30.00 5.29 1.95 10.72
Q1 2017 30.00 2.12 2.06 10.72
Q2 2017 30.00 2.05 2.04 10.74
Q3 2017 30.00 2.05 2.05 10.54
Q4 2017 30.00 0.11 0.11 10.58
Q1 2018 30.00 0.11 0.11 10.59
Q2 2018 30.00 0.12 0.12 10.62
Q3 2018 30.00 0.12 0.12 10.66
Q4 2018 30.00 (0.26) (0.26) 10.33
Q1 2019 30.00 0.05 0.05 10.64
Q2 2019 30.00 0.06 0.06 10.69
Q3 2019 30.00 0.18 0.18 10.85
Q4 2019 30.00 (0.49) (0.57) 9.84
Q1 2020 30.00 (0.78) (0.86) 9.86
Q2 2020 30.00 (0.81) (0.89) 9.90
Q3 2020 30.00 (0.97) (1.06) 9.90
Q4 2020 30.00 (0.17) (0.17) 9.62
Q1 2021 30.00 (0.20) (0.20) 9.62
Q2 2021 30.00 (0.22) (0.22) 9.61
Q3 2021 30.00 (0.22) (0.22) 9.61
Q4 2021 30.00 0.04 0.04 9.66
Q1 2022 30.00 0.02 0.02 9.65
Q2 2022 30.00 0.02 0.02 9.83
Q3 2022 30.00 0.02 0.02 9.83
Q4 2022 30.00 0.23 0.45 10.11

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2013 NEG NEG 2.01
Q2 2013 NEG NEG 1.85
Q3 2013 NEG NEG 2.01
Q4 2013 NEG NEG 2.62
Q1 2014 NEG NEG 2.52
Q2 2014 NEG NEG 2.28
Q3 2014 NEG NEG 2.55
Q4 2014 NEG NEG 1.76
Q1 2015 NEG NEG 2.11
Q2 2015 NEG NEG 2.25
Q3 2015 NEG NEG 1.81
Q4 2015 More than 100 NEG 2.03
Q1 2016 5.05 NEG 1.41
Q2 2016 4.88 NEG 1.39
Q3 2016 3.72 NEG 1.12
Q4 2016 2.95 8.02 1.46
Q1 2017 6.53 6.73 1.29
Q2 2017 6.43 6.43 1.22
Q3 2017 6.55 6.55 1.27
Q4 2017 More than 100 More than 100 1.21
Q1 2018 More than 100 More than 100 1.21
Q2 2018 99.73 99.73 1.16
Q3 2018 91.36 91.36 0.99
Q4 2018 NEG NEG 1.05
Q1 2019 More than 100 More than 100 1.12
Q2 2019 More than 100 More than 100 1.12
Q3 2019 59.22 59.22 0.96
Q4 2019 NEG NEG 1.13
Q1 2020 NEG NEG 0.92
Q2 2020 NEG NEG 1.32
Q3 2020 NEG NEG 2.11
Q4 2020 NEG NEG 2.01
Q1 2021 NEG NEG 2.90
Q2 2021 NEG NEG 3.36
Q3 2021 NEG NEG 3.10
Q4 2021 More than 100 More than 100 2.45
Q1 2022 More than 100 More than 100 2.35
Q2 2022 More than 100 More than 100 2.17
Q3 2022 More than 100 More than 100 2.44
Q4 2022 80.01 41.86 1.86

Business Segments (Million)

Compared With The
Period Agri Sector- Shri Project Agri Sector- Jouf Project Poultry Project Dates Factory Dairy sector Agricultural Activity
Q1 2013 11.09 2.87 2.50 3.17 - -
Q2 2013 10.14 4.29 2.50 3.34 - -
Q3 2013 10.67 4.13 2.50 1.67 - -
Q4 2013 5.75 1.28 2.50 1.60 - -
Q1 2014 3.60 0.70 2.50 2.14 - -
Q2 2014 8.49 4.72 2.50 4.35 - -
Q3 2014 7.03 4.23 2.50 1.18 - -
Q4 2014 2.69 2.34 2.50 1.75 - -
Q1 2015 2.33 0.74 2.50 2.57 - -
Q2 2015 5.54 3.33 2.50 2.76 - -
Q3 2015 7.24 2.10 2.50 0.99 - -
Q4 2015 1.47 5.23 3.89 0.72 - -
Q1 2016 3.45 0.48 2.50 1.72 - -
Q2 2016 1.24 - 2.50 2.04 - -
Q3 2016 1.60 - 1.60 0.65 - -
Q4 2016 1.39 - 1.21 0.84 - -
Q1 2017 1.30 - 1.72 1.81 - -
Q2 2017 1.29 - 1.72 1.35 - -
Q3 2017 1.53 - 1.72 1.40 - -
Q4 2017 1.30 - 1.72 1.00 - -
Q2 2018 1.29 - 1.69 0.91 - -
Q3 2018 1.55 - 1.69 0.08 - -
Q4 2018 1.29 - 1.69 - - -
Q1 2019 1.28 - 1.65 - - -
Q2 2019 1.28 - 1.65 - - -
Q3 2019 1.58 - 1.65 - - -
Q4 2019 1.28 - 1.65 - - -
Q1 2020 1.27 - 1.60 - - -

Current
Market Cap (M Riyal) 510.00
Enterprise Value (EV) (M) 453.89
Shares Outstanding ((M)) 30.00
EPS ( Riyal) (TTM) (0.30)
Book Value (BV) ( Riyal) 9.82
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 1.73
Return on Average Assets (%) (TTM) (2.05 )
Return on Average Equity (%) (TTM) (3.00 )

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.