Alandalus Property’s net profit up 29% in FY17
27/03/2018
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Alandaus Property Co. reported a net profit of SAR 118.4 million for fiscal year 2017, a 28.9 percent increase year-on-year, attributable to higher rental income and improved income from affiliates, besides one-time gains from disposal of a plot of land.
The company reported a revenue of SAR 146.83 million for the year versus SAR 131.67 million in 2016.
Comprehensive income (excluding non-controlling interest) amounted to SAR 118.17 million, versus SAR 91.8 million in 2016.
Financials (M)
| Item | 2016 | 2017 | Change |
|---|---|---|---|
| Revenues | 131.67 | 146.83 | 11.5 % |
| Gross Income | 81.96 | 80.15 | (2.2 %) |
| Operating Income | 69.29 | 66.48 | (4.1 %) |
| Net Income | 91.82 | 118.39 | 28.9 % |
| Average Shares | 93.33 | 93.33 | - |
| Earnings Per Share before unusual items (Riyals) | 0.98 | 1.02 | 3.9 % |
| EPS (Riyal) | 0.98 | 1.27 | 28.9 % |
Compared With The
Current Quarter Comparison (M)
| Item | Q4 2016 | Q4 2017 | Change |
|---|---|---|---|
| Revenues | 33.62 | 38.77 | 15.3 % |
| Gross Income | 20.98 | 15.60 | (25.7 %) |
| Operating Income | 17.58 | 11.36 | (35.4 %) |
| Net Income | 15.81 | 14.96 | (5.3 %) |
| Average Shares | 93.33 | 93.33 | - |
| Earnings Per Share before unusual items (Riyal) | 0.17 | 0.16 | (5.3 %) |
| EPS (Riyal) | 0.17 | 0.16 | (5.3 %) |
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| Q1 2017 | 32.70 | 3.2 % | 20.45 | 3.1 % | 17.69 | 4.5 % |
| Q2 2017 | 36.51 | 13.9 % | 22.84 | 13.2 % | 20.09 | 17.2 % |
| Q3 2017 | 38.86 | 13.3 % | 21.26 | 1.4 % | 17.55 | (0.5 %) |
| Q4 2017 | 38.77 | 15.3 % | 15.60 | (25.7 %) | 11.36 | (35.4 %) |
| 2017 | 146.83 | 11.5 % | 80.15 | (2.2 %) | 66.48 | (4.1 %) |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS(Riyal) |
|---|---|---|---|---|---|---|
| Q1 2017 | 49.45 | 99.4 % | 0.53 | 22.94 | 26.50 | 0.28 |
| Q2 2017 | 27.57 | 10.9 % | 0.30 | - | 27.57 | 0.30 |
| Q3 2017 | 26.42 | 0.2 % | 0.28 | - | 26.42 | 0.28 |
| Q4 2017 | 14.96 | (5.3 %) | 0.16 | - | 14.96 | 0.16 |
| 2017 | 118.39 | 28.9 % | 1.27 | 22.94 | 95.45 | 1.02 |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| Q1 2016 | 59.52 % | 61.03 % | 73.99 % |
| Q2 2016 | 59.17 % | 59.81 % | 73.93 % |
| Q3 2016 | 59.53 % | 59.73 % | 74.91 % |
| Q4 2016 | 62.25 % | 60.32 % | 69.74 % |
| 2016 | 62.25 % | 60.32 % | 69.74 % |
| Q1 2017 | 62.23 % | 60.30 % | 70.49 % |
| Q2 2017 | 62.16 % | 60.37 % | 70.19 % |
| Q3 2017 | 60.37 % | 58.44 % | 67.96 % |
| Q4 2017 | 54.59 % | 54.38 % | 65.01 % |
| 2017 | 54.59 % | 54.24 % | 65.01 % |
Compared With The
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Earnings Per Share before unusual items (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| Q1 2017 | 93.33 | 1.25 | 1.00 | 10.07 |
| Q2 2017 | 93.33 | 1.28 | 1.03 | 10.36 |
| Q3 2017 | 93.33 | 1.28 | 1.03 | 10.64 |
| Q4 2017 | 93.33 | 1.27 | 1.02 | 13.16 |
Multiple Ratios (End of Period Price)
| Period | P/E | Recurring P/E | Price/book |
|---|---|---|---|
| Q1 2017 | 11.26 | 14.03 | 1.40 |
| Q2 2017 | 13.39 | 16.58 | 1.65 |
| Q3 2017 | 12.26 | 15.19 | 1.47 |
| Q4 2017 | 12.22 | 15.15 | 1.18 |
Business Segments (Million)
Q4 2017
| Period | Retail sector | Hospitality sector | Office sector | Other activities |
|---|---|---|---|---|
| Q1 2017 | 32.44 | - | 0.26 | 0.22 |
| Q2 2017 | 35.90 | - | 0.26 | - |
| Q3 2017 | 36.10 | 1.99 | 0.26 | - |
| Q4 2017 | 33.62 | 4.89 | - | - |
| Current | |
| Market Cap (M Riyal) | 1,735.01 |
| Enterprise Value (EV) (M Riyal) | 2,650.15 |
| Shares Outstanding ((M)) | 93.33 |
| EPS ( Riyal) (TTM) | (0.28) |
| Book Value (BV) ( Riyal) | 10.28 |
| Par Value ( Riyal) | 10.00 |
| Recurring P/E | Neg |
| P/E (TTM) | NEG |
| Price/book | 1.81 |
| Return on Average Assets (%) (TTM) | (1.18 ) |
| Return on Average Equity (%) (TTM) | (2.63 ) |
| EV/adj EBITDA | 25.18 |
| EV/Revenues | 11.22 |
Share Price
Alandalus Property Co. (ALANDALUS)
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