Anaam Holding narrows losses to SAR 3.5 mln in H1

06/08/2018 Argaam Exclusive

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Anaam International Holding Group (ANAAM HOLDING)

Anaam International Holding Group has narrowed its net loss to SAR 3.5 million in H1 2018 from SAR 10.1 million a year earlier due to higher sales of the agriculture segment, lower cost of sales of both the agriculture and food segments, and lower general and administrative (G&A) expenses.



Financials (M)

Item 6m 2017 6m 2018 Change‬
Revenues 18.56 20.09 8.2 %
Gross Income (2.57) 2.53 198.6 %
Operating Income (9.83) (3.69) 62.5 %
Net Income (10.12) (3.49) 65.5 %
Average Shares 617.32 617.32 -
EPS (Halala) (1.64) (0.57) 65.5 %

In Q2, the company swung to a net profit of SAR 2.1 million compared to a net loss of SAR 5.5 million in the same quarter last year, as the agriculture segment saw higher sales and selling prices, and lower cost of production.The food segment’s cost of sales dropped, as did G&A expenses as a result of restructuring all sectors.

 

There were no financial charges in Q2 as opposed to Q1.

 

Q2 net profit came versus a net loss of SAR 5.6 million in the previous quarter on higher agriculture sales due to a rise in selling prices and quantities, lower cost of production and lower G&A.



Current Quarter Comparison (M)

Compared With The
Item Q2 2017 Q2 2018 Change‬
Revenues 13.82 14.88 7.6 %
Gross Income (1.61) 5.02 412.3 %
Operating Income (5.21) 2.21 142.3 %
Net Income (5.55) 2.14 138.6 %
Average Shares 617.32 617.32 -
EPS (Halala) (0.90) 0.35 138.6 %


Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Halala)
Q1 2009 20.29 0.7 % 1.27 (52.9 %) (2.73) (161.2 %) (0.44)
Q2 2009 21.21 (14.8 %) 4.79 47.8 % 0.58 (44.6 %) 0.09
Q3 2009 18.90 (38.0 %) 4.63 (9.0 %) 0.92 28.2 % 0.15
Q4 2009 13.60 (63.8 %) 1.57 (67.0 %) (6.77) (566.2 %) (1.10)
Q1 2010 18.66 (8.0 %) 2.06 61.5 % 0.24 108.7 % 0.04
Q2 2010 31.84 50.1 % 4.20 (12.3 %) 4.90 752.9 % 0.80
Q3 2010 42.23 123.5 % 6.06 30.8 % 2.18 136.1 % 0.36
Q4 2010 56.98 319.0 % 9.26 491.6 % 3.95 158.3 % 0.64
Q1 2011 55.33 196.4 % 4.76 131.5 % 2.19 827.5 % 0.36
Q2 2011 61.65 93.6 % 6.55 56.1 % 1.13 (77.0 %) 0.18
Q3 2011 63.81 51.1 % 9.24 52.4 % 4.61 111.1 % 0.75
Q4 2011 44.65 (21.6 %) 3.49 (62.3 %) 4.00 1.2 % 0.65
Q1 2012 45.84 (17.1 %) 7.19 51.1 % 0.33 (85.1 %) 0.05
Q2 2012 51.56 (16.4 %) 9.43 44.0 % 1.70 50.7 % 0.28
Q3 2012 56.32 (11.7 %) 16.06 73.9 % 7.05 53.0 % 1.15
Q4 2012 43.71 (2.1 %) 5.54 58.6 % 0.27 (93.2 %) 0.04
Q1 2013 52.40 14.3 % 3.84 (46.7 %) (5.58) (1811.3 %) (0.90)
Q2 2013 52.74 2.3 % 5.32 (43.6 %) (7.91) (564.8 %) (1.28)
Q3 2013 57.71 2.5 % 2.87 (82.2 %) (7.53) (206.9 %) (1.22)
Q4 2013 29.20 (33.2 %) (12.89) (332.9 %) (11.57) (4354.8 %) (1.87)
Q1 2014 28.90 (44.8 %) (2.10) (154.7 %) (7.54) (35.1 %) (1.22)
Q2 2014 28.56 (45.9 %) 6.77 27.3 % (1.77) 77.6 % (0.29)
Q3 2014 32.03 (44.5 %) 2.62 (8.7 %) (2.59) 65.6 % (0.42)
Q4 2014 14.01 (52.0 %) 5.45 142.2 % (13.81) (19.4 %) (2.24)
Q1 2015 13.54 (53.1 %) 3.68 275.0 % 1.52 120.2 % 0.25
Q2 2015 29.36 2.8 % 11.50 69.8 % 6.84 485.9 % 1.11
Q3 2015 32.77 2.3 % 15.45 490.3 % 10.48 504.7 % 1.70
Q4 2015 13.29 (5.1 %) 7.38 35.5 % 2.11 115.3 % 0.34
Q1 2016 9.79 (27.7 %) (0.59) (116.0 %) (2.83) (285.6 %) (0.46)
Q2 2016 25.81 (12.1 %) 8.69 (24.4 %) 4.98 (27.1 %) 0.81
Q3 2016 17.21 (47.5 %) 0.63 (95.9 %) (2.81) (126.8 %) (0.46)
Q4 2016 13.61 2.4 % (7.75) (205.1 %) (12.72) (702.6 %) (2.06)
Q1 2017 4.74 (51.6 %) (0.96) (63.0 %) (4.57) (61.5 %) (0.74)
Q2 2017 13.82 (46.5 %) (1.61) (118.5 %) (5.55) (211.4 %) (0.90)
Q3 2017 15.63 (9.2 %) (3.70) (684.7 %) (7.33) (160.7 %) (1.19)
Q4 2017 9.15 (32.8 %) (4.10) 47.1 % (10.32) 18.9 % (1.67)
Q1 2018 5.21 9.9 % (2.49) (159.1 %) (5.64) (23.4 %) (0.91)
Q2 2018 14.88 7.6 % 5.02 412.3 % 2.14 138.6 % 0.35

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2009 12.66 % 6.40 % (1.75 %)
Q2 2009 14.50 % 7.99 % (2.23 %)
Q3 2009 15.75 % 8.01 % (2.29 %)
Q4 2009 16.56 % 8.64 % (10.81 %)
Q1 2010 18.02 % 8.76 % (6.96 %)
Q2 2010 15.00 % 6.87 % (0.85 %)
Q3 2010 13.05 % 6.79 % 0.52 %
Q4 2010 14.41 % 6.86 % 4.03 %
Q1 2011 13.03 % 6.36 % 4.29 %
Q2 2011 12.32 % 6.01 % 1.95 %
Q3 2011 12.54 % 5.84 % 2.79 %
Q4 2011 10.66 % 3.95 % 4.43 %
Q1 2012 12.25 % 4.79 % 3.76 %
Q2 2012 14.25 % 5.72 % 4.22 %
Q3 2012 18.23 % 8.59 % 5.61 %
Q4 2012 19.36 % 9.36 % 4.73 %
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 %)


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Halala) Adjusted EPS (Halala) Book Value (BV)
Q1 2009 613.95 (0.32) (0.32) 0.19
Q2 2009 613.95 (0.40) (0.40) 0.19
Q3 2009 613.95 (0.37) (0.37) 0.19
Q4 2009 613.95 (1.30) (1.30) 0.18
Q1 2010 613.95 (0.82) (0.82) 0.18
Q2 2010 613.95 (0.11) (0.11) 0.19
Q3 2010 613.95 0.09 0.09 0.19
Q4 2010 613.95 1.84 0.98 0.20
Q1 2011 613.95 2.15 1.30 0.20
Q2 2011 613.95 1.54 0.69 0.21
Q3 2011 613.95 1.93 1.08 0.21
Q4 2011 613.95 1.94 1.63 0.22
Q1 2012 613.95 1.64 1.32 0.22
Q2 2012 613.95 1.73 1.42 0.22
Q3 2012 613.95 2.13 1.81 0.23
Q4 2012 617.32 1.51 1.51 0.36
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

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2009 NEG NEG 4.78
Q2 2009 NEG NEG 6.12
Q3 2009 NEG NEG 5.92
Q4 2009 NEG NEG 9.42
Q1 2010 NEG NEG 9.40
Q2 2010 NEG NEG 6.18
Q3 2010 More than 50 More than 50 5.95
Q4 2010 More than 50 More than 50 5.82
Q1 2011 More than 50 More than 50 6.07
Q2 2011 More than 50 More than 50 6.30
Q3 2011 More than 50 More than 50 8.14
Q4 2011 More than 50 More than 50 8.97
Q1 2012 More than 50 More than 50 9.79
Q2 2012 More than 50 More than 50 7.04
Q3 2012 More than 50 More than 50 10.14
Q4 2012 More than 50 More than 50 4.58
Q1 2013 More than 50 More than 50 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 50 4.66
Q3 2015 More than 50 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 50 More than 50 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

Business Segments (Million)

Compared With The
Period Head office and leasing and others Warehousing Agricultural activities

Current
Market Cap (M Riyal) 655.20
Enterprise Value (EV) (M) 790.11
Shares Outstanding ((M)) 630.00
EPS (Halala) (TTM) 1.94
Book Value (BV) ( Riyal) 0.46
Par Value ( Halala) 50.00
Adjusted P/E (Last12) More than 50
P/E (TTM) More than 50
Price/book 2.26
Return on Average Assets (%) (TTM) 2.0
Return on Average Equity (%) (TTM) 4.3

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