Al Gassim Investment’s net profit rises 43% in Q1

07/05/2018 Argaam Exclusive

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Al Gassim Investment Holding Co. (GACO) reported a net profit of SAR 294,001 for the first quarter of 2018, a 42.6 percent increase year-on-year, on declines in selling and distribution expenses, general and administrative expenses and Zakat provision, despite booking a provision for doubtful debts of SAR 545,594.

Compared to the previous quarter, the company’s net profit declined 69.3 percent due to lower other income and higher provisions booked.



Current Quarter Comparison (M)

Compared With The
Item Q1 2017 Q1 2018 Change‬
Revenues 4.83 2.97 (38.5 %)
Gross Income 2.46 2.53 2.7 %
Operating Income 0.82 1.31 59.4 %
Net Income 0.21 0.29 42.7 %
Average Shares 30.00 30.00 -
EPS (Riyals) 0.01 0.01 42.7 %


Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Riyal)
Q1 2009 26.56 (3.1 %) 0.55 (38.9 %) 0.10 (81.1 %) 0.00
Q2 2009 14.47 28.7 % (1.74) (371.9 %) (3.05) (737.9 %) (0.10)
Q3 2009 22.95 (24.2 %) 0.15 (96.1 %) (1.79) (234.6 %) (0.06)
Q4 2009 20.30 4.2 % (0.58) (256.8 %) (2.22) (81.4 %) (0.07)
Q1 2010 14.24 (46.4 %) (2.40) (536.4 %) 1.33 1178.8 % 0.04
Q2 2010 16.09 11.2 % (8.13) (367.2 %) (10.29) (237.5 %) (0.34)
Q3 2010 21.18 (7.7 %) (0.20) (233.3 %) (2.54) (41.9 %) (0.08)
Q4 2010 29.38 44.7 % (2.04) (251.7 %) (6.16) (177.4 %) (0.21)
Q1 2011 13.02 (8.6 %) (1.72) 28.3 % (1.87) (240.8 %) (0.06)
Q2 2011 17.64 9.6 % 1.21 114.9 % (1.70) 83.4 % (0.06)
Q3 2011 21.14 (0.2 %) (3.44) (1,620.0 %) (5.89) (132.5 %) (0.20)
Q4 2011 11.46 (61.0 %) (3.69) (80.9 %) (6.59) (7.1 %) (0.22)
Q1 2012 12.02 (7.7 %) 0.72 141.9 % 7.25 487.0 % 0.24
Q2 2012 21.61 22.5 % (1.15) (195.0 %) (0.14) 91.6 % 0.00
Q3 2012 22.10 4.5 % (0.94) 72.7 % (2.32) 60.7 % (0.08)
Q4 2012 16.00 39.6 % (5.45) (47.7 %) (12.31) (86.7 %) (0.41)
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

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2009 6.15 % 14.35 % (0.18 %)
Q2 2009 3.30 % 11.79 % (3.13 %)
Q3 2009 (0.80 %) 9.08 % (7.14 %)
Q4 2009 (1.92 %) 7.57 % (8.25 %)
Q1 2010 (6.35 %) 4.78 % (7.96 %)
Q2 2010 (14.90 %) (4.35 %) (17.63 %)
Q3 2010 (15.75 %) (5.30 %) (19.10 %)
Q4 2010 (15.79 %) (9.22 %) (21.83 %)
Q1 2011 (15.18 %) (9.46 %) (26.18 %)
Q2 2011 (3.39 %) 2.00 % (15.11 %)
Q3 2011 (7.38 %) (2.30 %) (19.25 %)
Q4 2011 (12.08 %) (2.58 %) (25.39 %)
Q1 2012 (8.35 %) (6.03 %) (4.22 %)
Q2 2012 (11.41 %) (9.77 %) (1.64 %)
Q3 2012 (7.53 %) (5.62 %) 0.33 %
Q4 2012 (9.51 %) (10.79 %) (37.87 %)
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 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2009 30.00 (0.01) (0.01) 13.33
Q2 2009 30.00 (0.09) (0.09) 13.42
Q3 2009 30.00 (0.20) (0.20) 13.36
Q4 2009 30.00 (0.23) (0.23) 13.28
Q1 2010 30.00 (0.19) (0.19) 13.33
Q2 2010 30.00 (0.43) (0.43) 12.99
Q3 2010 30.00 (0.46) (0.46) 12.90
Q4 2010 30.00 (0.59) (0.59) 12.70
Q1 2011 30.00 (0.70) (0.70) 12.63
Q2 2011 30.00 (0.41) (0.41) 12.58
Q3 2011 30.00 (0.52) (0.52) 12.38
Q4 2011 30.00 (0.54) (0.54) 12.16
Q1 2012 30.00 (0.23) (0.09) 12.65
Q2 2012 30.00 (0.18) (0.04) 12.47
Q3 2012 30.00 (0.06) 0.01 12.35
Q4 2012 30.00 (0.25) (0.91) 11.92
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

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2009 NEG NEG 1.13
Q2 2009 NEG NEG 1.25
Q3 2009 NEG NEG 1.30
Q4 2009 NEG NEG 1.29
Q1 2010 NEG NEG 1.24
Q2 2010 NEG NEG 1.08
Q3 2010 NEG NEG 1.13
Q4 2010 NEG NEG 1.19
Q1 2011 NEG NEG 1.35
Q2 2011 NEG NEG 1.38
Q3 2011 NEG NEG 1.31
Q4 2011 NEG NEG 3.06
Q1 2012 NEG NEG 3.85
Q2 2012 NEG NEG 2.31
Q3 2012 NEG More than 100 2.15
Q4 2012 NEG NEG 1.97
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

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 - -

Current
Market Cap (M Riyal) 490.20
Enterprise Value (EV) (M) 434.09
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 1.66
Return on Average Assets (%) (TTM) (2.05 )
Return on Average Equity (%) (TTM) (3.00 )

Share Price

Al Gassim Investment Holding Co. (GACO)


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