Abo Moati’s net profit falls 19% to SAR 14.8 mln in FY19/20
29/06/2020
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Abdulla Saad Abo Mohammed Abo Moati for Bookstores Co. posted a drop of 18.8% in net profit after Zakat and tax to SAR 14.8 million for the fiscal year ended March 31, 2020, compared to net profit of SAR 18.2 million a year earlier.
The profit decline was attributed to lower ink sales, as well as the closure of retail and wholesale stores since March 16 due to the COVID-19 outbreak.
The company incurred higher operating expenses due to opening new retail branches, and reported a drop in other income and leasing returns.
Financials (M)
| Item | 2018 | 2019 | Change |
|---|---|---|---|
| Revenues | 316.86 | 297.07 | (6.2 %) |
| Gross Income | 61.63 | 60.17 | (2.4 %) |
| Operating Income | 24.11 | 19.66 | (18.5 %) |
| Net Income | 18.21 | 13.88 | (23.8 %) |
| Average Shares | 20.00 | 20.00 | - |
| Earnings Per Share before unusual items (Riyals) | 0.91 | 0.69 | (23.8 %) |
| EPS (Riyal) | 0.91 | 0.69 | (23.8 %) |
The fourth quarter net profit dipped 19% YoY to SAR 3.8 million.
Compared With The
Current Quarter Comparison (M)
| Item | Q4 2018 | Q4 2019 | Change |
|---|---|---|---|
| Revenues | 77.18 | 75.53 | (2.1 %) |
| Gross Income | 16.76 | 15.92 | (5.0 %) |
| Operating Income | 6.39 | 4.68 | (26.7 %) |
| Net Income | 4.62 | 3.75 | (18.7 %) |
| Average Shares | 20.00 | 20.00 | - |
| Earnings Per Share before unusual items (Riyal) | 0.23 | 0.19 | (18.7 %) |
| EPS (Riyal) | 0.23 | 0.19 | (18.7 %) |
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| Q1 2019 | 44.32 | (7.1 %) | 9.14 | 5.5 % | 2.01 | 2.8 % |
| Q2 2019 | 92.63 | (0.2 %) | 17.83 | (4.2 %) | 7.11 | (14.4 %) |
| Q3 2019 | 84.59 | (14.7 %) | 17.29 | (1.9 %) | 5.86 | (21.5 %) |
| Q4 2019 | 75.53 | (2.1 %) | 15.92 | (5.0 %) | 4.68 | (26.7 %) |
| 2019 | 297.07 | (6.2 %) | 60.17 | (2.4 %) | 19.66 | (18.5 %) |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS(Riyal) |
|---|---|---|---|---|---|---|
| Q1 2019 | 0.99 | (35.9 %) | 0.05 | - | 0.99 | 0.05 |
| Q2 2019 | 4.36 | (25.7 %) | 0.22 | - | 4.36 | 0.22 |
| Q3 2019 | 4.78 | (22.9 %) | 0.24 | - | 4.78 | 0.24 |
| Q4 2019 | 3.75 | (18.7 %) | 0.19 | - | 3.75 | 0.19 |
| 2019 | 13.88 | (23.8 %) | 0.69 | - | 13.88 | 0.69 |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| Q1 2018 | 18.16 % | 8.12 % | 6.12 % |
| Q2 2018 | 18.23 % | 8.11 % | 6.05 % |
| Q3 2018 | 18.95 % | 7.95 % | 5.73 % |
| Q4 2018 | 19.45 % | 8.51 % | 5.75 % |
| 2018 | 19.45 % | 8.51 % | 5.75 % |
| Q1 2019 | 19.81 % | 8.81 % | 5.63 % |
| Q2 2019 | 19.58 % | 8.63 % | 5.16 % |
| Q3 2019 | 20.42 % | 8.77 % | 4.93 % |
| Q4 2019 | 20.25 % | 8.60 % | 4.67 % |
| 2019 | 20.25 % | 8.60 % | 4.67 % |
Compared With The
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Earnings Per Share before unusual items (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| Q1 2019 | 20.00 | 0.88 | 0.88 | 11.60 |
| Q2 2019 | 20.00 | 0.81 | 0.81 | 11.40 |
| Q3 2019 | 20.00 | 0.74 | 0.74 | 11.65 |
| Q4 2019 | 20.00 | 0.69 | 0.69 | 11.78 |
Multiple Ratios (End of Period Price)
| Period | P/E | Recurring P/E | Price/book |
|---|---|---|---|
| Q1 2019 | 12.68 | 12.68 | 0.97 |
| Q2 2019 | 17.33 | 17.33 | 1.23 |
| Q3 2019 | 15.60 | 15.60 | 0.99 |
| Q4 2019 | 27.64 | 27.64 | 1.63 |
Business Segments (Million)
Q4 2019
| Period | Retail and wholesale | Inks segment |
|---|---|---|
| Q3 2019 | 55.46 | 29.13 |
| Q4 2019 | 48.80 | 26.73 |
| Current | |
| Market Cap (M Riyal) | 912.00 |
| Enterprise Value (EV) (M Riyal) | 953.65 |
| Shares Outstanding ((M)) | 20.00 |
| EPS ( Riyal) (TTM) | 1.31 |
| Book Value (BV) ( Riyal) | 12.37 |
| Par Value ( Riyal) | 10.00 |
| Recurring P/E | 34.91 |
| P/E (TTM) | 34.91 |
| Price/book | 3.69 |
| Return on Average Assets (%) (TTM) | 7.5 |
| Return on Average Equity (%) (TTM) | 10.7 |
| EV/adj EBITDA | 22.04 |
| EV/Revenues | 3.54 |
Share Price
Abdullah Saad Mohammed Abo Moati for Bookstores Co. (ABO MOATI)
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