Al-Jouf Agricultural posts SAR 8.6 mln (+65%) net profit in Q1-2015

12/04/2015 Argaam Exclusive

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Share Price

Al-Jouf Agricultural Development Co. (ALJOUF)

 

Al-Jouf Agricultural Development Company, a producer of olive oil and agricultural products in Saudi Arabia, reported a net profit of SAR 8.6 million for first quarter, 65 percent higher compared to the same period in 2014.

First quarter's increase was mainly attributed to higher sales and other revenues, compared to the same period last year. 

Sales and marketing costs also declined contributing to higher net profit, the company added The decline of net profit compared to the previous quarter, however, was attributed to lower sales and other revenue due to the seasonal nature of the company’s products.



Current Quarter Comparison (M)

Compared With The
Item Q1 2014 Q1 2015 Change‬
Revenues 46.84 53.18 13.5 %
Gross Income 15.94 18.28 14.7 %
Operating Income 5.49 8.23 50.0 %
Net Income 5.19 8.62 66.1 %
Average Shares 30.00 30.00 -
EPS (Riyals) 0.17 0.29 66.1 %


Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Riyal)
Q1 2006 8.73 (23.8 %) 2.60 (5.8 %) 9.70 1715.7 % 0.32
Q2 2006 17.52 (66.7 %) 8.59 (47.8 %) 1.61 (85.2 %) 0.05
Q3 2006 41.32 (9.2 %) 16.89 17.4 % 7.04 93.1 % 0.23
Q4 2006 106.58 201.0 % 57.27 244.4 % 21.53 890.0 % 0.72
Q1 2007 18.04 106.6 % 8.82 239.0 % 6.08 (37.3 %) 0.20
Q2 2007 17.62 0.6 % 9.98 16.2 % 4.26 164.6 % 0.14
Q3 2007 50.60 22.5 % 22.43 32.8 % 12.94 83.7 % 0.43
Q4 2007 102.82 (3.5 %) 53.23 (7.1 %) 26.37 22.5 % 0.88
Q1 2008 22.50 24.7 % 11.14 26.3 % 7.70 26.5 % 0.26
Q2 2008 41.78 137.1 % 22.65 126.9 % 12.42 191.3 % 0.41
Q3 2008 67.19 32.8 % 28.58 27.4 % 13.60 5.1 % 0.45
Q4 2008 81.31 (20.9 %) 37.22 (30.1 %) 20.71 (21.5 %) 0.69
Q1 2009 51.98 131.1 % 19.95 79.1 % 13.80 79.4 % 0.46
Q2 2009 39.33 (5.9 %) 18.77 (17.1 %) 11.40 (8.2 %) 0.38
Q3 2009 79.83 18.8 % 33.91 18.6 % 16.84 23.8 % 0.56
Q4 2009 94.74 16.5 % 31.33 (15.8 %) 20.91 1.0 % 0.70
Q1 2010 33.82 (34.9 %) 12.87 (35.5 %) 7.15 (48.2 %) 0.24
Q2 2010 35.70 (9.2 %) 17.50 (6.8 %) 12.00 5.2 % 0.40
Q3 2010 84.42 5.7 % 36.70 8.2 % 23.58 40.1 % 0.79
Q4 2010 92.95 (1.9 %) 35.53 13.4 % 23.53 12.5 % 0.78
Q1 2011 15.44 (54.3 %) 7.27 (43.5 %) 6.05 (15.4 %) 0.20
Q2 2011 50.37 41.1 % 23.51 34.4 % 15.13 26.1 % 0.50
Q3 2011 100.53 19.1 % 45.22 23.2 % 29.31 24.3 % 0.98
Q4 2011 126.15 35.7 % 50.38 41.8 % 34.13 45.1 % 1.14
Q1 2012 36.23 134.7 % 10.30 41.8 % 7.09 17.3 % 0.24
Q2 2012 55.63 10.4 % 27.24 15.9 % 20.24 33.8 % 0.67
Q3 2012 135.97 35.3 % 57.59 27.3 % 34.81 18.8 % 1.16
Q4 2012 116.71 (7.5 %) 54.71 8.6 % 39.54 15.8 % 1.32
Q1 2013 38.00 4.9 % 14.30 38.8 % 8.13 14.6 % 0.27
Q2 2013 71.34 28.2 % 33.41 22.7 % 23.07 14.0 % 0.77
Q3 2013 121.19 (10.9 %) 50.51 (12.3 %) 34.36 (1.3 %) 1.15
Q4 2013 110.47 (5.3 %) 54.31 (0.7 %) 36.51 (7.7 %) 1.22
Q1 2014 46.84 23.2 % 15.94 11.5 % 5.19 (36.1 %) 0.17
Q2 2014 69.11 (3.1 %) 33.15 (0.8 %) 27.75 20.3 % 0.93
Q3 2014 124.13 2.4 % 51.25 1.5 % 37.15 8.1 % 1.24
Q4 2014 110.23 (0.2 %) 51.53 (5.1 %) 37.03 1.4 % 1.23
Q1 2015 53.18 13.5 % 18.28 14.7 % 8.62 66.1 % 0.29

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2006 35.21 % 29.68 % 8.54 %
Q2 2006 39.40 % 34.16 % 4.39 %
Q3 2006 43.42 % 38.71 % 6.43 %
Q4 2006 49.01 % 50.92 % 29.20 %
Q1 2007 49.91 % 51.84 % 30.87 %
Q2 2007 50.64 % 52.35 % 31.28 %
Q3 2007 51.08 % 54.10 % 33.60 %
Q4 2007 49.96 % 51.49 % 26.26 %
Q1 2008 50.00 % 52.42 % 26.49 %
Q2 2008 50.27 % 51.32 % 27.30 %
Q3 2008 49.34 % 47.88 % 25.65 %
Q4 2008 46.81 % 45.41 % 25.58 %
Q1 2009 44.75 % 43.26 % 24.99 %
Q2 2009 43.58 % 42.68 % 24.82 %
Q3 2009 43.51 % 42.91 % 24.86 %
Q4 2009 39.10 % 37.95 % 23.86 %
Q1 2010 39.11 % 36.14 % 22.93 %
Q2 2010 39.17 % 36.55 % 23.51 %
Q3 2010 39.57 % 37.58 % 26.50 %
Q4 2010 41.55 % 41.04 % 28.38 %
Q1 2011 42.45 % 43.02 % 30.18 %
Q2 2011 42.36 % 42.63 % 29.65 %
Q3 2011 43.01 % 42.74 % 29.34 %
Q4 2011 43.21 % 41.35 % 28.93 %
Q1 2012 41.31 % 38.57 % 27.34 %
Q2 2012 41.80 % 38.93 % 29.18 %
Q3 2012 41.11 % 37.90 % 28.60 %
Q4 2012 43.49 % 40.21 % 29.44 %
Q1 2013 44.42 % 42.39 % 29.59 %
Q2 2013 44.20 % 43.07 % 28.49 %
Q3 2013 44.04 % 44.99 % 28.77 %
Q4 2013 44.73 % 45.52 % 27.67 %
Q1 2014 44.07 % 44.73 % 26.13 %
Q2 2014 44.28 % 45.76 % 27.64 %
Q3 2014 44.12 % 46.76 % 28.21 %
Q4 2014 43.35 % 48.71 % 30.58 %
Q1 2015 43.24 % 48.65 % 31.00 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2006 30.00 0.72 0.40 10.77
Q2 2006 30.00 0.41 0.16 10.80
Q3 2006 30.00 0.52 0.22 11.06
Q4 2006 30.00 1.33 1.69 12.68
Q1 2007 30.00 1.21 1.89 12.88
Q2 2007 30.00 1.30 1.91 13.03
Q3 2007 30.00 1.49 2.16 13.46
Q4 2007 30.00 1.66 1.66 14.34
Q1 2008 30.00 1.71 1.71 14.59
Q2 2008 30.00 1.98 1.98 14.60
Q3 2008 30.00 2.00 2.00 15.05
Q4 2008 30.00 1.81 1.81 15.74
Q1 2009 30.00 2.02 2.02 16.20
Q2 2009 30.00 1.98 1.98 16.58
Q3 2009 30.00 2.09 2.09 17.14
Q4 2009 30.00 2.10 2.12 17.82
Q1 2010 30.00 1.88 1.89 16.65
Q2 2010 30.00 1.90 1.91 17.05
Q3 2010 30.00 2.12 2.20 17.83
Q4 2010 30.00 2.21 2.34 18.60
Q1 2011 30.00 2.17 2.30 17.37
Q2 2011 30.00 2.28 2.40 17.87
Q3 2011 30.00 2.47 2.54 18.85
Q4 2011 30.00 2.82 2.82 19.99
Q1 2012 30.00 2.86 2.86 20.22
Q2 2012 30.00 3.03 3.10 19.17
Q3 2012 30.00 3.21 3.37 20.33
Q4 2012 30.00 3.39 3.38 21.65
Q1 2013 30.00 3.42 3.42 20.19
Q2 2013 30.00 3.52 3.44 20.96
Q3 2013 30.00 3.50 3.33 22.11
Q4 2013 30.00 3.40 3.14 23.32
Q1 2014 30.00 3.30 3.05 22.66
Q2 2014 30.00 3.46 3.20 23.53
Q3 2014 30.00 3.55 3.30 24.77
Q4 2014 30.00 3.57 3.57 24.37
Q1 2015 30.00 3.69 3.69 25.28

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2006 43.84 More than 50 2.92
Q2 2006 More than 50 More than 50 4.38
Q3 2006 More than 50 More than 50 5.53
Q4 2006 17.55 13.76 1.84
Q1 2007 23.16 14.83 2.17
Q2 2007 17.48 11.85 1.74
Q3 2007 18.07 12.50 2.01
Q4 2007 17.32 17.32 2.00
Q1 2008 12.97 12.97 1.52
Q2 2008 11.27 11.27 1.53
Q3 2008 7.92 7.92 1.05
Q4 2008 7.66 7.66 0.88
Q1 2009 7.27 7.27 0.91
Q2 2009 9.48 9.48 1.13
Q3 2009 9.66 9.66 1.18
Q4 2009 11.47 11.38 1.35
Q1 2010 12.19 12.08 1.37
Q2 2010 10.02 9.93 1.11
Q3 2010 9.62 9.29 1.14
Q4 2010 11.56 10.93 1.37
Q1 2011 10.17 9.60 1.27
Q2 2011 9.67 9.15 1.23
Q3 2011 9.76 9.50 1.28
Q4 2011 10.84 10.84 1.53
Q1 2012 12.52 12.52 1.77
Q2 2012 10.30 10.06 1.63
Q3 2012 11.19 10.64 1.77
Q4 2012 10.70 10.72 1.67
Q1 2013 10.08 10.10 1.71
Q2 2013 11.25 11.51 1.89
Q3 2013 12.96 13.64 2.05
Q4 2013 12.22 13.22 1.78
Q1 2014 12.98 14.08 1.89
Q2 2014 13.58 14.67 2.00
Q3 2014 15.08 16.26 2.16
Q4 2014 11.43 11.43 1.68
Q1 2015 11.37 11.37 1.66

Analysts Estimates (Million)

Item Q1 2015 (e) Q1 2015 (a) Change‬
Average 5.52 8.62 56.20 %

Estimates vs Actual (Million)

Item Q1 2015 (e) Q1 2015 (a) Change
AlJazira Capital 5.52 8.62 56.2 %

Current
Market Cap (M Riyal) 1,860.00
Enterprise Value (EV) (M) 2,087.46
Shares Outstanding ((M)) 30.00
EPS ( Riyal) (TTM) 2.49
Book Value (BV) ( Riyal) 24.80
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 28.27
P/E (TTM) 24.86
Price/book 2.50
Return on Average Assets (%) (TTM) 7.0
Return on Average Equity (%) (TTM) 10.6

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