Jarir’s net profit grows 2% to SAR 729.4 mln in 9M 2021

12/10/2021 Argaam Exclusive

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Share Price

13.40
(0.02) (0.15 %)

Jarir Marketing Co. (JARIR)

Jarir Marketing Co. reported a net profit after Zakat and tax of SAR 729.4 million for the first nine months of 2021, compared to a net profit of SAR 715.3 million a year earlier.



Financials (M)

Item 9m 2020 9m 2021 Change‬
Revenues 6,751.99 6,770.15 0.3 %
Gross Income 965.65 943.69 (2.3 %)
Operating Income 748.48 748.84 0.0 %
Net Income 715.32 729.37 2.0 %
Average Shares 1,200.00 1,200.00 -
EPS (Riyals) 0.60 0.61 2.0 %

The profit rise was driven by a decline in general and administrative expenses, which included voluntary contributions of SAR 25 million made by the company last year to support government initiatives.

 

The company also cited lower selling and marketing expenses, as well as financing cost, and higher other income.



Current Quarter Comparison (M)

Compared With The
Item Q3 2020 Q3 2021 Change‬
Revenues 2,037.85 2,224.49 9.2 %
Gross Income 334.46 344.09 2.9 %
Operating Income 265.06 275.95 4.1 %
Net Income 255.24 272.50 6.8 %
Average Shares 1,200.00 1,200.00 -
EPS (Riyals) 0.21 0.23 6.8 %

In Q3 2021, Jarir’s net profit after Zakat and tax rose by 7% to SAR 272.5 million from SAR 255.2 million in the year-ago period.

 

On a quarterly basis, net profit jumped 44% from SAR 189.2 million.

 

View more financial results

 


Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Riyal)
Q1 2012 1,196.21 26.5 % 190.19 16.9 % 164.23 20.1 % 0.14
Q2 2012 1,065.83 10.1 % 137.29 7.4 % 106.98 8.6 % 0.09
Q3 2012 1,189.84 (1.6 %) 193.39 5.1 % 160.71 5.1 % 0.13
Q4 2012 1,182.34 15.4 % 173.24 8.9 % 137.91 10.5 % 0.11
Q1 2013 1,329.98 11.2 % 210.75 10.8 % 180.84 10.1 % 0.15
Q2 2013 1,258.28 18.1 % 163.93 19.4 % 126.22 18.0 % 0.11
Q3 2013 1,334.15 12.1 % 218.87 13.2 % 186.19 15.9 % 0.16
Q4 2013 1,320.26 11.7 % 200.80 15.9 % 160.03 16.0 % 0.13
Q1 2014 1,398.85 5.2 % 235.05 11.5 % 201.33 11.3 % 0.17
Q2 2014 1,289.43 2.5 % 173.66 5.9 % 135.23 7.1 % 0.11
Q3 2014 1,426.25 6.9 % 237.37 8.5 % 203.00 9.0 % 0.17
Q4 2014 1,584.20 20.0 % 240.39 19.7 % 205.81 28.6 % 0.17
Q1 2015 1,909.51 36.5 % 283.51 20.6 % 247.02 22.7 % 0.21
Q2 2015 1,405.76 9.0 % 191.37 10.2 % 154.86 14.5 % 0.13
Q3 2015 1,536.06 7.7 % 253.41 6.8 % 218.50 7.6 % 0.18
Q4 2015 1,524.05 (3.8 %) 243.74 1.4 % 208.09 1.1 % 0.17
Q1 2016 1,417.43 (25.8 %) 214.77 (24.2 %) 174.96 (29.2 %) 0.15
Q2 2016 1,390.74 (1.1 %) 162.76 (15.0 %) 126.48 (18.3 %) 0.11
Q3 2016 1,520.93 (1.0 %) 252.93 (0.2 %) 217.92 (0.3 %) 0.18
Q4 2016 1,793.46 17.7 % 244.80 0.4 % 215.32 3.5 % 0.18
Q1 2017 1,704.95 20.3 % 247.38 15.2 % 221.44 26.6 % 0.18
Q2 2017 1,584.80 14.0 % 192.72 18.4 % 147.76 16.8 % 0.12
Q3 2017 1,651.79 8.6 % 290.72 14.9 % 246.53 13.1 % 0.21
Q4 2017 2,000.39 11.5 % 306.42 25.2 % 251.93 17.0 % 0.21
Q1 2018 1,599.42 (6.2 %) 242.67 (1.9 %) 219.10 (1.1 %) 0.18
Q2 2018 1,693.32 6.8 % 212.53 10.3 % 162.59 10.0 % 0.14
Q3 2018 1,932.08 17.0 % 338.56 16.5 % 288.00 16.8 % 0.24
Q4 2018 2,136.90 6.8 % 320.07 4.5 % 290.31 15.2 % 0.24
Q1 2019 1,886.64 18.0 % 302.14 24.5 % 233.69 6.7 % 0.19
Q2 2019 1,892.58 11.8 % 233.90 10.1 % 169.13 4.0 % 0.14
Q3 2019 2,251.23 16.5 % 389.14 14.9 % 304.97 5.9 % 0.25
Q4 2019 2,394.06 12.0 % 348.00 8.7 % 276.94 (4.6 %) 0.23
Q1 2020 2,340.22 24.0 % 327.46 8.4 % 251.69 7.7 % 0.21
Q2 2020 2,373.92 25.4 % 303.74 29.9 % 208.39 23.2 % 0.17
Q3 2020 2,037.85 (9.5 %) 334.46 (14.1 %) 255.24 (16.3 %) 0.21
Q4 2020 2,553.83 6.7 % 362.96 4.3 % 287.67 3.9 % 0.24
Q1 2021 2,530.39 8.1 % 337.57 3.1 % 267.64 6.3 % 0.22
Q2 2021 2,015.28 (15.1 %) 262.03 (13.7 %) 189.24 (9.2 %) 0.16
Q3 2021 2,224.49 9.2 % 344.09 2.9 % 272.50 6.8 % 0.23

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2012 15.03 % 12.57 % 12.29 %
Q2 2012 14.92 % 12.52 % 12.21 %
Q3 2012 15.19 % 12.79 % 12.44 %
Q4 2012 14.98 % 12.59 % 12.30 %
Q1 2013 14.99 % 12.66 % 12.30 %
Q2 2013 14.94 % 12.59 % 12.21 %
Q3 2013 15.02 % 12.69 % 12.36 %
Q4 2013 15.15 % 12.70 % 12.46 %
Q1 2014 15.41 % 12.97 % 12.68 %
Q2 2014 15.51 % 13.03 % 12.78 %
Q3 2014 15.58 % 13.14 % 12.87 %
Q4 2014 15.56 % 13.18 % 13.08 %
Q1 2015 15.06 % 12.79 % 12.74 %
Q2 2015 15.06 % 12.84 % 12.82 %
Q3 2015 15.05 % 12.90 % 12.84 %
Q4 2015 15.25 % 13.19 % 12.99 %
Q1 2016 15.35 % 13.10 % 12.86 %
Q2 2016 14.91 % 12.59 % 12.41 %
Q3 2016 14.94 % 12.65 % 12.50 %
Q4 2016 14.30 % 12.26 % 12.07 %
Q1 2017 14.16 % 12.40 % 12.25 %
Q2 2017 14.20 % 12.33 % 12.10 %
Q3 2017 14.49 % 12.50 % 12.23 %
Q4 2017 14.94 % 12.73 % 12.39 %
Q1 2018 15.10 % 12.90 % 12.55 %
Q2 2018 15.15 % 13.07 % 12.67 %
Q3 2018 15.23 % 13.18 % 12.76 %
Q4 2018 15.13 % 13.18 % 13.04 %
Q1 2019 15.34 % 13.45 % 12.74 %
Q2 2019 15.22 % 13.68 % 12.50 %
Q3 2019 15.25 % 13.76 % 12.22 %
Q4 2019 15.11 % 13.85 % 11.69 %
Q1 2020 14.63 % 13.37 % 11.29 %
Q2 2020 14.62 % 13.11 % 11.13 %
Q3 2020 14.36 % 12.93 % 10.85 %
Q4 2020 14.28 % 13.00 % 10.78 %
Q1 2021 14.10 % 12.87 % 10.73 %
Q2 2021 14.19 % 13.18 % 10.94 %
Q3 2021 14.01 % 13.00 % 10.79 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2012 1,200.00 0.45 0.45 0.81
Q2 2012 1,200.00 0.46 0.46 0.79
Q3 2012 1,200.00 0.46 0.46 0.86
Q4 2012 1,200.00 0.47 0.47 0.86
Q1 2013 1,200.00 0.49 0.49 0.91
Q2 2013 1,200.00 0.50 0.50 0.90
Q3 2013 1,200.00 0.53 0.53 0.97
Q4 2013 1,200.00 0.54 0.54 0.98
Q1 2014 1,200.00 0.56 0.56 1.04
Q2 2014 1,200.00 0.57 0.57 1.02
Q3 2014 1,200.00 0.58 0.58 1.10
Q4 2014 1,200.00 0.62 0.62 1.13
Q1 2015 1,200.00 0.66 0.66 1.20
Q2 2015 1,200.00 0.68 0.68 1.16
Q3 2015 1,200.00 0.69 0.69 1.23
Q4 2015 1,200.00 0.69 0.69 1.25
Q1 2016 1,200.00 0.63 0.63 1.23
Q2 2016 1,200.00 0.61 0.61 1.23
Q3 2016 1,200.00 0.61 0.61 1.29
Q4 2016 1,200.00 0.61 0.62 1.25
Q1 2017 1,200.00 0.65 0.65 1.27
Q2 2017 1,200.00 0.67 0.67 1.23
Q3 2017 1,200.00 0.69 0.69 1.33
Q4 2017 1,200.00 0.72 0.72 1.36
Q1 2018 1,200.00 0.72 0.71 1.35
Q2 2018 1,200.00 0.73 0.73 1.30
Q3 2018 1,200.00 0.77 0.77 1.41
Q4 2018 1,200.00 0.80 0.80 1.42
Q1 2019 1,200.00 0.81 0.81 1.32
Q2 2019 1,200.00 0.82 0.82 1.27
Q3 2019 1,200.00 0.83 0.83 1.39
Q4 2019 1,200.00 0.82 0.82 1.37
Q1 2020 1,200.00 0.84 0.84 1.36
Q2 2020 1,200.00 0.87 0.87 1.36
Q3 2020 1,200.00 0.83 0.83 1.41
Q4 2020 1,200.00 0.84 0.84 1.44
Q1 2021 1,200.00 0.85 0.85 1.43
Q2 2021 1,200.00 0.83 0.83 1.37
Q3 2021 1,200.00 0.85 0.84 1.46

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2012 17.10 17.10 9.48
Q2 2012 16.51 16.51 9.54
Q3 2012 16.57 16.57 8.99
Q4 2012 16.35 16.35 9.08
Q1 2013 16.73 16.73 8.95
Q2 2013 19.12 19.12 10.74
Q3 2013 21.98 21.98 11.93
Q4 2013 21.91 21.91 12.20
Q1 2014 27.52 27.52 14.86
Q2 2014 25.93 25.93 14.50
Q3 2014 25.92 25.92 13.78
Q4 2014 22.43 22.43 12.30
Q1 2015 25.01 25.01 13.73
Q2 2015 24.53 24.53 14.28
Q3 2015 19.60 19.60 10.94
Q4 2015 17.37 17.37 9.57
Q1 2016 13.47 13.47 6.90
Q2 2016 14.55 14.55 7.19
Q3 2016 11.47 11.41 5.38
Q4 2016 14.14 14.07 6.91
Q1 2017 15.56 15.48 7.95
Q2 2017 16.44 16.51 8.93
Q3 2017 16.68 16.83 8.70
Q4 2017 15.22 15.35 8.12
Q1 2018 18.40 18.56 9.86
Q2 2018 18.18 18.18 10.24
Q3 2018 17.87 17.87 9.76
Q4 2018 19.00 19.00 10.73
Q1 2019 19.48 19.48 11.98
Q2 2019 20.45 20.45 13.11
Q3 2019 19.00 19.00 11.36
Q4 2019 20.18 20.18 12.08
Q1 2020 15.29 15.29 9.39
Q2 2020 16.81 16.81 10.71
Q3 2020 22.66 22.66 13.32
Q4 2020 20.75 20.75 12.06
Q1 2021 21.43 21.43 12.77
Q2 2021 25.35 25.35 15.38
Q3 2021 24.73 25.00 14.35

Business Segments (Million)

Compared With The
Period Retail sector Wholesale sector E-Commerce Other sectors
Q1 2012 1,070.00 126.00 - -
Q2 2012 1,009.00 57.00 - -
Q3 2012 1,034.00 156.00 - -
Q4 2012 1,092.00 90.00 - -
Q1 2013 1,224.00 106.00 - -
Q2 2013 1,203.00 55.00 - -
Q3 2013 1,173.00 161.00 - -
Q4 2013 1,229.00 92.00 - -
Q1 2014 1,275.00 124.00 - -
Q2 2014 1,230.00 59.00 - -
Q3 2014 1,252.00 175.00 - -
Q4 2014 1,486.00 98.00 - -
Q1 2015 1,783.00 127.00 - -
Q2 2015 1,345.00 60.00 - -
Q3 2015 1,367.00 169.00 - -
Q4 2015 1,397.00 127.00 - -
Q1 2016 1,293.00 85.00 - 39.00
Q2 2016 1,303.00 50.00 - 38.00
Q3 2016 1,326.00 150.00 - 45.00
Q4 2016 1,673.00 71.00 - 50.00
Q1 2017 1,530.00 133.00 - 42.00
Q2 2017 1,497.00 43.00 - 45.00
Q3 2017 1,446.00 154.00 - 52.00
Q4 2017 1,772.00 121.00 - 107.00
Q1 2018 1,487.00 61.00 - 51.00
Q2 2018 1,596.00 35.00 - 63.00
Q3 2018 1,667.00 158.00 - 107.00
Q4 2018 1,873.00 118.00 - 146.00
Q1 2019 1,723.00 66.00 - 98.00
Q3 2019 1,914.00 170.00 135.00 32.00
Q4 2019 2,149.00 93.00 120.20 32.50
Q1 2020 2,071.00 77.00 148.00 44.00
Q2 2020 1,780.00 44.00 520.00 30.00
Q3 2020 1,804.00 66.00 145.00 23.00
Q4 2020 2,089.00 38.00 404.00 23.00
Q1 2021 2,276.00 40.00 193.00 21.00
Q2 2021 1,811.00 28.00 150.00 27.00
Q3 2021 1,868.00 78.00 255.00 23.00

Analysts Estimates (Million)

Item Q3 2021 (e) Q3 2021 (a) Change‬
Average 287.23 272.50 (5.1 %)

Estimates vs Actual (Million)

Item Q3 2021 (e) Q3 2021 (a) Change
Al Rajhi Capital 272.00 272.50 0.2 %
SNB Capital 268.00 272.50 1.7 %
AlJazira Capital 290.90 272.50 (6.3) %
Riyad Capital 318.00 272.50 (14.3) %

Current
Market Cap (M Riyal) 16,080.00
Enterprise Value (EV) (M) 16,035.39
Shares Outstanding ((M)) 1,200.00
EPS ( Riyal) (TTM) 0.79
Book Value (BV) ( Riyal) 1.42
Par Value ( Riyal) 1.00
Adjusted P/E (Last12) 17.02
P/E (TTM) 17.02
Price/book 9.40
Return on Average Assets (%) (TTM) 23.0
Return on Average Equity (%) (TTM) 54.2

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