Jabal Omar posts SAR 225 mln net profit for H1 2015

10/05/2015 Argaam Exclusive

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Jabal Omar Development Company reported a net profit of SAR 224.7 million for the six months ending on April 19, 2015, compared to a net loss of SAR 3 million for the same period in 2014.

Financials (M)

Item	6m 2014	6m 2015	Change‬
Revenues	50.44	474.10	840.0 %
Gross Income	22.51	309.97	1276.9 %
Operating Income	(7.75)	233.29	3109.4 %
Net Income	(3.00)	210.21	7118.6 %
Average Shares	929.40	929.40	-
EPS (Riyals)	0.00	0.23	7118.6 %

The year-on-year increase was mainly attributed to revenue generated from the sale of residential units and the full operation of Hilton Hotel Suites, as well as revenue generated from rent.

The audit report drew attention to the company’s current liabilities, which exceeded its current assets. This raised doubts about its ability to continue as a going concern.

Financial statements were prepared after the company disclosed its plans to generate sufficient liquidity in order to meet its current liabilities, the auditor added.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2014	Q2 2015	Change‬
Revenues	26.57	234.95	784.2 %
Gross Income	12.72	140.58	1004.9 %
Operating Income	(2.67)	80.66	3122.1 %
Net Income	(0.47)	65.05	14028.3 %
Average Shares	929.40	929.40	-
EPS (Riyals)	0.00	0.07	14028.3 %

Item	Q1 2015	Q2 2015	Change‬
Revenues	239.16	234.95	(1.8 %)
Gross Income	169.39	140.58	(17.0 %)
Operating Income	152.63	80.66	(47.2 %)
Net Income	145.16	65.05	(55.2 %)
Average Shares	929.40	929.40	-
EPS (Riyals)	0.16	0.07	(55.2 %)

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
Q1 2006	-	-	-	-	-	-	-
Q2 2006	-	-	-	-	-	-	-
Q3 2006	-	-	-	-	-	-	-
Q4 2006	-	-	-	-	-	-	-
2006	-	-	-	-	-	-	-
Q1 2007	-	-	-	-	-	-	-
Q2 2007	-	-	-	-	-	-	-
Q3 2007	-	-	-	-	-	-	-
Q4 2007	-	-	-	-	-	-	-
2007	-	-	-	-	-	-	-
Q1 2008	-	-	-	-	(38.63)	-	(0.05)
Q2 2008	-	-	-	-	(3.53)	-	0.00
Q3 2008	-	-	-	-	7.89	-	0.01
Q4 2008	-	-	-	-	(18.29)	-	(0.02)
2008	-	-	-	-	(52.56)	-	(0.07)
Q1 2009	-	-	-	-	(4.10)	89.4 %	(0.01)
Q2 2009	-	-	-	-	(18.24)	(417.0 %)	(0.02)
Q3 2009	-	-	-	-	(9.64)	(222.1 %)	(0.01)
Q4 2009	-	-	-	-	(1.46)	92.0 %	0.00
2009	-	-	-	-	(22.99)	56.3 %	(0.03)
Q1 2010	-	-	-	-	(8.91)	(117.5 %)	(0.01)
Q2 2010	-	-	-	-	(7.60)	58.4 %	(0.01)
Q3 2010	-	-	-	-	(9.21)	4.5 %	(0.01)
Q4 2010	-	-	-	-	(11.31)	(677.5 %)	(0.01)
2010	-	-	-	-	(37.03)	(61.1 %)	(0.05)
Q1 2011	-	-	-	-	(7.36)	17.5 %	(0.01)
Q2 2011	-	-	-	-	(10.36)	(36.4 %)	(0.01)
Q3 2011	-	-	-	-	(9.57)	(3.9 %)	(0.01)
Q4 2011	-	-	-	-	(9.48)	16.2 %	(0.01)
2011	-	-	-	-	(36.76)	0.7 %	(0.04)
Q1 2012	-	-	-	-	(13.06)	(77.6 %)	(0.01)
Q2 2012	-	-	-	-	(16.93)	(63.4 %)	(0.02)
Q3 2012	-	-	-	-	(11.78)	(23.1 %)	(0.01)
Q4 2012	-	-	-	-	(9.62)	(1.5 %)	(0.01)
2012	-	-	-	-	(51.39)	(39.8 %)	(0.06)
Q1 2013	12.70	-	3.47	-	(5.26)	59.7 %	(0.01)
Q2 2013	16.18	-	5.34	-	(6.12)	63.8 %	(0.01)
Q3 2013	22.79	-	10.81	-	(3.37)	71.4 %	0.00
Q4 2013	(6.07)	-	(10.14)	-	(57.50)	(497.8 %)	(0.06)
2013	45.60	-	8.66	-	(32.54)	36.7 %	(0.04)
Q1 2014	23.86	88.0 %	9.79	182.0 %	(2.53)	52.0 %	0.00
Q2 2014	26.57	64.3 %	12.72	138.3 %	(0.47)	92.4 %	0.00
Q3 2014	26.79	17.6 %	14.73	36.2 %	(1.63)	51.6 %	0.00
Q4 2014	653.94	10878.7 %	488.24	4914.0 %	431.26	850.1 %	0.46
2014	731.17	1503.6 %	525.48	5968.5 %	421.99	1396.9 %	0.45
Q1 2015	239.16	902.2 %	169.39	1630.4 %	145.16	5842.2 %	0.16
Q2 2015	234.95	784.2 %	140.58	1004.9 %	65.05	14028.3 %	0.07

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
2005	-	-	-	-	-	-	-
2006	-	-	-	-	-	-	-
2007	-	-	-	-	-	-	-
2008	-	-	-	-	(52.56)	-	(0.07)
2009	-	-	-	-	(22.99)	56.3 %	(0.03)
2010	-	-	-	-	(37.03)	(61.1 %)	(0.05)
2011	-	-	-	-	(36.76)	0.7 %	(0.04)
2012	-	-	-	-	(51.39)	(39.8 %)	(0.06)
2013	45.60	-	8.66	-	(32.54)	36.7 %	(0.04)
2014	731.17	1503.6 %	525.48	5968.5 %	421.99	1396.9 %	0.45

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2006	-	-	-
Q2 2006	-	-	-
Q3 2006	-	-	-
Q4 2006	-	-	-
2006	-	-	-
Q1 2007	-	-	-
Q2 2007	-	-	-
Q3 2007	-	-	-
Q4 2007	-	-	-
2007	-	-	-
Q1 2008	-	-	-
Q2 2008	-	-	-
Q3 2008	-	-	-
Q4 2008	-	-	-
2008	-	-	-
Q1 2009	-	-	-
Q2 2009	-	-	-
Q3 2009	-	-	-
Q4 2009	-	-	-
2009	-	-	-
Q1 2010	-	-	-
Q2 2010	-	-	-
Q3 2010	-	-	-
Q4 2010	-	-	-
2010	-	-	-
Q1 2011	-	-	-
Q2 2011	-	-	-
Q3 2011	-	-	-
Q4 2011	-	-	-
2011	-	-	-
Q1 2012	-	-	-
Q2 2012	-	-	-
Q3 2012	-	-	-
Q4 2012	-	-	-
2012	-	-	-
Q1 2013	27.34 %	(382.17 %)	(343.38 %)
Q2 2013	30.52 %	(117.18 %)	(113.56 %)
Q3 2013	37.98 %	(43.14 %)	(47.18 %)
Q4 2013	20.79 %	(141.50 %)	(158.46 %)
2013	18.99 %	(54.40 %)	(71.36 %)
Q1 2014	27.83 %	(103.72 %)	(122.47 %)
Q2 2014	34.52 %	(77.14 %)	(95.09 %)
Q3 2014	38.08 %	(68.48 %)	(87.30 %)
Q4 2014	71.87 %	64.33 %	58.35 %
2014	71.87 %	64.33 %	57.71 %
Q1 2015	72.38 %	67.76 %	60.68 %
Q2 2015	70.39 %	64.34 %	55.40 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2005	-	-	-
2006	-	-	-
2007	-	-	-
2008	-	-	-
2009	-	-	-
2010	-	-	-
2011	-	-	-
2012	-	-	-
2013	18.99 %	(54.40 %)	(71.36 %)
2014	71.87 %	64.33 %	57.71 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2006	-	-	-
Q2 2006	-	-	-
Q3 2006	-	-	-
Q4 2006	-	-	-
Q1 2007	-	-	-
Q2 2007	-	-	-
Q3 2007	-	-	-
Q4 2007	-	-	-
Q1 2008	-	-	-
Q2 2008	-	-	-
Q3 2008	-	-	-
Q4 2008	-	-	-
Q1 2009	-	-	-
Q2 2009	-	-	-
Q3 2009	-	-	-
Q4 2009	-	-	-
Q1 2010	-	-	-
Q2 2010	-	-	-
Q3 2010	-	-	-
Q4 2010	-	-	-
Q1 2011	-	-	-
Q2 2011	-	-	-
Q3 2011	-	-	-
Q4 2011	-	-	-
Q1 2012	-	-	-
Q2 2012	-	-	-
Q3 2012	-	-	-
Q4 2012	-	-	-
Q1 2013	27.34 %	(36.04 %)	(41.45 %)
Q2 2013	33.01 %	(21.94 %)	(37.85 %)
Q3 2013	47.43 %	(5.65 %)	(14.79 %)
Q4 2013	167.17 %	908.29 %	947.67 %
Q1 2014	41.02 %	4.47 %	(10.59 %)
Q2 2014	47.88 %	13.24 %	(1.76 %)
Q3 2014	54.97 %	6.68 %	(6.10 %)
Q4 2014	74.66 %	70.95 %	65.95 %
Q1 2015	70.83 %	71.95 %	60.70 %
Q2 2015	59.84 %	44.76 %	27.68 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2006	-	-	-	-
Q2 2006	-	-	-	-
Q3 2006	-	-	-	-
Q4 2006	-	-	-	-
Q1 2007	-	-	-	-
Q2 2007	-	-	-	-
Q3 2007	-	-	-	-
Q4 2007	-	-	-	-
Q1 2008	756.39	-	-	8.83
Q2 2008	756.39	-	-	8.82
Q3 2008	756.39	-	-	8.83
Q4 2008	756.39	(0.07)	(0.07)	8.81
Q1 2009	756.39	(0.02)	(0.02)	8.80
Q2 2009	756.39	(0.04)	(0.04)	8.78
Q3 2009	756.39	(0.07)	(0.07)	8.78
Q4 2009	756.39	(0.04)	(0.04)	8.78
Q1 2010	756.39	(0.05)	(0.05)	8.76
Q2 2010	756.39	(0.04)	(0.04)	8.75
Q3 2010	756.39	(0.04)	(0.04)	8.74
Q4 2010	756.39	(0.05)	(0.05)	8.73
Q1 2011	756.39	(0.05)	(0.05)	8.72
Q2 2011	756.39	(0.05)	(0.05)	8.70
Q3 2011	929.40	(0.04)	(0.04)	9.77
Q4 2011	929.40	(0.04)	(0.04)	9.76
Q1 2012	929.40	(0.05)	(0.05)	9.74
Q2 2012	929.40	(0.05)	(0.05)	9.73
Q3 2012	929.40	(0.06)	(0.06)	9.71
Q4 2012	929.40	(0.06)	(0.06)	9.70
Q1 2013	929.40	(0.05)	(0.05)	9.70
Q2 2013	929.40	(0.04)	(0.04)	9.61
Q3 2013	929.40	(0.03)	(0.03)	9.65
Q4 2013	929.40	(0.08)	(0.08)	9.62
Q1 2014	929.40	(0.07)	(0.07)	9.60
Q2 2014	929.40	(0.07)	(0.07)	9.60
Q3 2014	929.40	(0.07)	(0.07)	9.57
Q4 2014	929.40	0.46	0.46	10.01
Q1 2015	929.40	0.62	0.62	10.11
Q2 2015	929.40	0.69	0.69	10.19

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2005	-	-	-	-
2006	-	-	-	-
2007	-	-	-	-
2008	756.39	(0.07)	(0.07)	8.81
2009	756.39	(0.03)	(0.03)	8.78
2010	756.39	(0.05)	(0.05)	8.73
2011	929.40	(0.04)	(0.04)	9.76
2012	929.40	(0.06)	(0.06)	9.70
2013	929.40	(0.04)	(0.04)	9.62
2014	929.40	0.45	0.45	10.01

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2006	-	-	-
Q2 2006	-	-	-
Q3 2006	-	-	-
Q4 2006	-	-	-
Q1 2007	-	-	-
Q2 2007	-	-	-
Q3 2007	-	-	-
Q4 2007	-	-	-
Q1 2008	-	-	3.64
Q2 2008	-	-	3.95
Q3 2008	-	-	3.07
Q4 2008	NEG	NEG	3.12
Q1 2009	NEG	NEG	2.86
Q2 2009	NEG	NEG	2.91
Q3 2009	NEG	NEG	3.15
Q4 2009	NEG	NEG	2.91
Q1 2010	NEG	NEG	3.10
Q2 2010	NEG	NEG	2.83
Q3 2010	NEG	NEG	2.81
Q4 2010	NEG	NEG	2.70
Q1 2011	NEG	NEG	2.37
Q2 2011	NEG	NEG	2.36
Q3 2011	NEG	NEG	1.51
Q4 2011	NEG	NEG	1.55
Q1 2012	NEG	NEG	2.46
Q2 2012	NEG	NEG	2.20
Q3 2012	NEG	NEG	2.34
Q4 2012	NEG	NEG	2.43
Q1 2013	NEG	NEG	3.28
Q2 2013	NEG	NEG	3.68
Q3 2013	NEG	NEG	3.94
Q4 2013	NEG	NEG	3.77
Q1 2014	NEG	NEG	5.32
Q2 2014	NEG	NEG	5.93
Q3 2014	NEG	NEG	6.83
Q4 2014	More than 100	More than 100	6.51
Q1 2015	More than 100	More than 100	9.33
Q2 2015	More than 100	More than 100	9.06

Period	P/E	Adjusted P/E	Price/book
2005	-	-	-
2006	-	-	-
2007	-	-	-
2008	NEG	NEG	3.12
2009	NEG	NEG	2.91
2010	NEG	NEG	2.70
2011	NEG	NEG	1.55
2012	NEG	NEG	2.43
2013	NEG	NEG	3.77
2014	More than 100	More than 100	6.51

Business Segments (Million)

Compared With The

Period	Operating Hotels	Commercial center	Properties for development and sale
Q1 2014	-	23.86	-
Q2 2014	-	26.57	-
Q3 2014	-	26.79	-
Q4 2014	61.63	27.92	564.40
Q1 2015	27.91	31.75	179.50
Q2 2015	27.16	32.39	175.40

Period	Operating Hotels	Commercial center	Properties for development and sale
2013	-	45.60	-
2014	61.63	105.15	564.40

Financial Ratios

	Current
Market Cap (M Riyal)	29,151.88
Enterprise Value (EV) (M)	40,657.21
Shares Outstanding ((M))	1,154.53
EPS ( Riyal) (TTM)	0.04
Book Value (BV) ( Riyal)	11.04
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	Neg
P/E (TTM)	More than 100
Price/book	2.29
Return on Average Assets (%) (TTM)	0.2
Return on Average Equity (%) (TTM)	0.4

Jabal Omar Development Company (JABAL OMAR)

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Jabal Omar posts SAR 225 mln net profit for H1 2015

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Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million)

Revenue by Business Segment (Latest) 2015 Q2

Financial Ratios

Share Price

Jabal Omar Development Company (JABAL OMAR)

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Jabal Omar posts SAR 225 mln net profit for H1 2015

View other reports

Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million) Q2 2015

Revenue by Business Segment (Latest) 2015 Q2

Financial Ratios

Share Price

Jabal Omar Development Company (JABAL OMAR)

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Business Segments (Million)