Al Abdullatif posts 54% profit fall in Q1 2019

08/05/2019 Argaam Exclusive

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Share Price

Al Abdullatif Industrial Investment Co.
17.20
(0.10) (0.58 %)

Al Abdullatif Industrial Investment Co. (ALABDULLATIF)

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Al Abdullatif Industrial Investment Group reported a net profit after zakat and tax of SAR 3.4 million for Q1 2019, a 53.5 percent year-on-year (YoY) drop on higher cost of sales, administrative and selling expenses, as well as financing charges.

In Q4 2018, the company incurred net losses of SAR 3.8 million. The first-quarter profitability was driven by higher sales revenue along with a decline in the cost of sales and zakat provision.



Current Quarter Comparison (M)

Compared With The
Item Q1 2018 Q1 2019 Change‬
Revenues 163.57 168.85 3.2 %
Gross Income 18.32 16.43 (10.3 %)
Operating Income 10.46 7.11 (32.0 %)
Net Income 7.27 3.38 (53.4 %)
Average Shares 81.25 81.25 -
EPS (Riyals) 0.09 0.04 (53.4 %)


Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Riyal)
Q1 2010 265.73 14.9 % 55.54 46.5 % 41.51 59.6 % 0.51
Q2 2010 271.88 23.7 % 53.53 (13.1 %) 38.44 (16.1 %) 0.47
Q3 2010 297.75 23.9 % 57.43 (19.3 %) 40.14 (29.7 %) 0.49
Q4 2010 303.64 (0.3 %) 49.05 (15.4 %) 32.34 (18.4 %) 0.40
Q1 2011 317.36 19.4 % 51.95 (6.5 %) 35.44 (14.6 %) 0.44
Q2 2011 345.00 26.9 % 59.84 11.8 % 41.91 9.0 % 0.52
Q3 2011 345.60 16.1 % 58.96 2.7 % 40.97 2.1 % 0.50
Q4 2011 329.51 8.5 % 56.94 16.1 % 37.65 16.4 % 0.46
Q1 2012 372.38 17.3 % 75.15 44.7 % 55.54 56.7 % 0.68
Q2 2012 385.35 11.7 % 95.89 60.2 % 69.68 66.3 % 0.86
Q3 2012 363.82 5.3 % 93.84 59.2 % 70.95 73.2 % 0.87
Q4 2012 332.98 1.1 % 87.77 54.1 % 67.51 79.3 % 0.83
Q1 2013 358.93 (3.6 %) 87.37 16.3 % 67.92 22.3 % 0.84
Q2 2013 349.55 (9.3 %) 92.06 (4.0 %) 70.67 1.4 % 0.87
Q3 2013 319.13 (12.3 %) 79.14 (15.7 %) 65.46 (7.7 %) 0.81
Q4 2013 320.36 (3.8 %) 70.41 (19.8 %) 62.78 (7.0 %) 0.77
Q1 2014 336.82 (6.2 %) 74.99 (14.2 %) 59.93 (11.8 %) 0.74
Q2 2014 339.16 (3.0 %) 71.44 (22.4 %) 63.87 (9.6 %) 0.79
Q3 2014 309.82 (2.9 %) 64.54 (18.4 %) 46.27 (29.3 %) 0.57
Q4 2014 339.26 5.9 % 53.02 (24.7 %) 30.34 (51.7 %) 0.37
Q1 2015 310.93 (7.7 %) 60.86 (18.8 %) 45.04 (24.9 %) 0.55
Q2 2015 306.01 (9.8 %) 75.96 6.3 % 54.27 (15.0 %) 0.67
Q3 2015 238.11 (23.1 %) 39.97 (38.1 %) 27.63 (40.3 %) 0.34
Q4 2015 244.22 (28.0 %) 30.96 (41.6 %) 12.28 (59.5 %) 0.15
Q1 2016 229.10 (26.3 %) 39.66 (34.8 %) 14.76 (67.2 %) 0.18
Q2 2016 214.61 (29.9 %) 26.74 (64.8 %) 12.64 (76.7 %) 0.16
Q3 2016 134.88 (43.4 %) 17.04 (57.4 %) 1.51 (94.5 %) 0.02
Q4 2016 162.22 (33.6 %) 22.59 (27.0 %) (0.26) (102.1 %) 0.00
Q1 2017 166.61 (27.3 %) 26.37 (33.5 %) 12.18 (17.5 %) 0.15
Q2 2017 182.25 (15.1 %) 27.21 1.8 % 13.59 7.5 % 0.17
Q3 2017 98.04 (27.3 %) 14.56 (14.6 %) 3.40 125.6 % 0.04
Q4 2017 221.51 36.5 % 13.70 (39.3 %) 6.05 2425.8 % 0.07
Q1 2018 163.57 (1.8 %) 18.32 (30.5 %) 7.27 (40.4 %) 0.09
Q2 2018 155.60 (14.6 %) 12.53 (53.9 %) 2.84 (79.1 %) 0.03
Q3 2018 147.62 50.6 % 14.42 (0.9 %) 1.72 (49.4 %) 0.02
Q4 2018 154.40 (30.3 %) 12.69 (7.4 %) (3.79) (162.7 %) (0.05)
Q1 2019 168.85 3.2 % 16.43 (10.3 %) 3.38 (53.4 %) 0.04

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2010 23.90 % 29.14 % 17.86 %
Q2 2010 22.00 % 26.85 % 16.32 %
Q3 2010 19.69 % 24.14 % 14.01 %
Q4 2010 18.93 % 23.38 % 13.38 %
Q1 2011 17.80 % 21.77 % 12.29 %
Q2 2011 17.27 % 20.72 % 11.86 %
Q3 2011 16.76 % 19.86 % 11.49 %
Q4 2011 17.02 % 20.07 % 11.66 %
Q1 2012 18.02 % 20.24 % 12.64 %
Q2 2012 20.03 % 21.24 % 14.23 %
Q3 2012 22.18 % 23.01 % 16.11 %
Q4 2012 24.24 % 24.76 % 18.13 %
Q1 2013 25.32 % 25.86 % 19.16 %
Q2 2013 25.69 % 26.61 % 19.71 %
Q3 2013 25.46 % 26.10 % 19.49 %
Q4 2013 24.41 % 25.11 % 18.21 %
Q1 2014 23.88 % 24.76 % 17.63 %
Q2 2014 22.50 % 23.48 % 16.45 %
Q3 2014 21.54 % 22.62 % 15.59 %
Q4 2014 19.92 % 21.13 % 14.40 %
Q1 2015 19.23 % 20.66 % 13.83 %
Q2 2015 20.09 % 21.69 % 14.27 %
Q3 2015 19.24 % 21.29 % 13.56 %
Q4 2015 18.90 % 20.55 % 12.67 %
Q1 2016 18.34 % 20.33 % 11.70 %
Q2 2016 14.83 % 17.28 % 8.36 %
Q3 2016 13.90 % 16.68 % 6.23 %
Q4 2016 14.31 % 16.33 % 5.23 %
Q1 2017 13.67 % 15.64 % 3.84 %
Q2 2017 14.43 % 16.36 % 4.18 %
Q3 2017 14.90 % 16.99 % 4.75 %
Q4 2017 12.24 % 15.84 % 4.26 %
Q1 2018 11.09 % 14.88 % 3.54 %
Q2 2018 9.26 % 13.48 % 2.00 %
Q3 2018 8.57 % 12.19 % 1.61 %
Q4 2018 9.33 % 12.84 % 1.29 %
Q1 2019 8.95 % 12.13 % 0.66 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2010 81.25 2.27 2.27 17.54
Q2 2010 81.25 2.17 2.17 14.51
Q3 2010 81.25 1.97 1.97 15.00
Q4 2010 81.25 1.88 1.88 13.90
Q1 2011 81.25 1.80 1.80 14.34
Q2 2011 81.25 1.84 1.84 13.85
Q3 2011 81.25 1.85 1.85 14.36
Q4 2011 81.25 1.92 1.92 14.82
Q1 2012 81.25 2.17 2.17 14.01
Q2 2012 81.25 2.51 2.51 14.86
Q3 2012 81.25 2.88 2.88 15.74
Q4 2012 81.25 3.25 3.25 15.32
Q1 2013 81.25 3.40 3.40 16.15
Q2 2013 81.25 3.41 3.41 15.77
Q3 2013 81.25 3.34 3.26 16.58
Q4 2013 81.25 3.28 3.02 15.35
Q1 2014 81.25 3.19 2.88 16.09
Q2 2014 81.25 3.10 2.66 15.87
Q3 2014 81.25 2.87 2.51 16.44
Q4 2014 81.25 2.47 2.35 15.32
Q1 2015 81.25 2.28 2.21 15.87
Q2 2015 81.25 2.17 2.22 16.04
Q3 2015 81.25 1.94 1.99 16.38
Q4 2015 81.25 1.71 1.71 15.28
Q1 2016 81.25 1.34 1.47 15.46
Q2 2016 81.25 0.83 0.95 15.02
Q3 2016 81.25 0.51 0.63 15.04
Q4 2016 81.25 0.35 0.48 15.04
Q1 2017 81.25 0.32 0.32 15.21
Q2 2017 81.25 0.33 0.33 14.88
Q3 2017 81.25 0.36 0.36 14.92
Q4 2017 81.25 0.43 0.35 14.94
Q1 2018 81.25 0.37 0.29 15.03
Q2 2018 81.25 0.24 0.16 14.56
Q3 2018 81.25 0.22 0.14 14.58
Q4 2018 81.25 0.10 0.10 14.58
Q1 2019 81.25 0.05 0.05 14.61

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2010 19.86 19.86 2.57
Q2 2010 13.06 13.06 1.96
Q3 2010 15.46 15.46 2.03
Q4 2010 15.40 15.40 2.08
Q1 2011 15.10 15.10 1.90
Q2 2011 14.37 14.37 1.91
Q3 2011 13.21 13.21 1.71
Q4 2011 13.86 13.86 1.79
Q1 2012 13.52 13.52 2.09
Q2 2012 9.96 9.96 1.68
Q3 2012 10.11 10.11 1.85
Q4 2012 9.77 9.77 2.07
Q1 2013 9.51 9.51 2.00
Q2 2013 11.91 11.91 2.57
Q3 2013 13.16 13.48 2.65
Q4 2013 12.48 13.57 2.67
Q1 2014 13.47 14.91 2.67
Q2 2014 13.70 15.95 2.68
Q3 2014 16.70 19.10 2.91
Q4 2014 13.52 14.20 2.18
Q1 2015 17.04 17.59 2.45
Q2 2015 18.55 18.07 2.50
Q3 2015 17.83 17.31 2.11
Q4 2015 17.48 17.48 1.96
Q1 2016 13.39 12.26 1.16
Q2 2016 21.12 18.37 1.17
Q3 2016 25.09 20.15 0.85
Q4 2016 43.76 32.35 1.03
Q1 2017 45.42 45.42 0.96
Q2 2017 38.10 38.10 0.85
Q3 2017 39.29 39.29 0.94
Q4 2017 31.17 38.56 0.90
Q1 2018 35.08 45.14 0.87
Q2 2018 More than 50 More than 50 0.87
Q3 2018 More than 50 More than 50 0.77
Q4 2018 More than 50 More than 50 0.76
Q1 2019 More than 50 More than 50 0.81

Business Segments (Million)

Compared With The
Period Carpets & Rugs and affiliate products Blankets Sector
Q1 2015 286.09 24.83
Q2 2015 295.47 10.54
Q3 2015 229.65 8.47
Q4 2015 214.14 30.14
Q1 2016 212.62 16.49
Q2 2016 201.70 7.87
Q3 2016 132.35 7.56
Q4 2016 148.75 13.47
Q1 2017 156.81 9.81
Q2 2017 175.48 6.77
Q3 2017 85.82 12.22
Q4 2017 192.47 29.04
Q1 2018 147.18 16.39
Q2 2018 138.69 16.92
Q3 2018 136.13 11.49
Q4 2018 136.46 17.94
Q1 2019 152.59 16.26


Financial Ratios
Current
Market Cap (M Riyal) 1,397.50
Enterprise Value (EV) (M) 1,577.85
Shares Outstanding ((M)) 81.25
EPS ( Riyal) (TTM) (0.92)
Book Value (BV) ( Riyal) 14.78
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 1.16
Return on Average Assets (%) (TTM) (4.72 )
Return on Average Equity (%) (TTM) (6.02 )
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