Al-Ahsa Q1 net profit up 6% to SAR 5 mln

23/04/2015 Argaam Exclusive

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AYYAN Investment Co.
19.78
(0.52) (2.56 %)

AYYAN Investment Co. (AYYAN)

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Al-Ahsa Development Company, which invests in the industrial sector, capital markets and real estate, reported a net profit of SAR 4.98 million for first quarter, 5.8 percent higher compared to the same period in 2014.

 

The year-on-year increase was mainly attributed to higher income and gross profit as a result of consolidating its financials with an affiliate company. It also recorded lower general and administrative expenses.

 

 

Higher profit shares from an affiliate’s earnings and better revenue from investments contributed to first quarter’s profit increase.

 

 

 

The company saw a quarter-on-quarter increase from Q4-2014 due to higher income as a result of consolidating its financials with an affiliate company. It also recorded higher dividends, profit share from an affiliate’s earnings, available for sales investment revenue, and higher income from non-recurring operations in Q1.



Current Quarter Comparison (M)

Compared With The
Item Q1 2014 Q1 2015 Change‬
Revenues 0.73 9.51 1202.9 %
Gross Income 0.00 2.66 132900.0 %
Operating Income (1.75) (0.85) 51.7 %
Net Income 4.70 4.74 0.9 %
Average Shares 49.00 49.00 -
EPS (Riyals) 0.10 0.10 0.9 %


Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Riyal)
Q1 2006 4.86 (46.3 %) (0.18) (111.8 %) 30.26 11.9 % 0.62
Q2 2006 5.24 (51.9 %) (0.26) (113.4 %) 31.68 (14.0 %) 0.65
Q3 2006 3.22 (60.0 %) (0.93) (214.2 %) 32.36 53.3 % 0.66
Q4 2006 4.54 33.1 % (0.15) 92.0 % (23.31) (322.4 %) (0.48)
Q1 2007 8.69 78.8 % 2.21 1347.5 % 4.86 (83.9 %) 0.10
Q2 2007 7.57 44.6 % 1.92 840.9 % 4.14 (86.9 %) 0.08
Q3 2007 1.49 (53.7 %) 0.37 140.2 % 7.30 (77.4 %) 0.15
Q4 2007 - - (0.01) 91.3 % 17.44 174.8 % 0.36
Q1 2008 - - - - 5.86 20.6 % 0.12
Q2 2008 - - - - 8.01 93.3 % 0.16
Q3 2008 - - - - (44.39) (708.0 %) (0.91)
Q4 2008 - - - - (25.72) (247.5 %) (0.52)
Q1 2009 - - - - (6.25) (206.7 %) (0.13)
Q2 2009 - - - - 7.42 (7.3 %) 0.15
Q3 2009 - - - - 4.61 110.4 % 0.09
Q4 2009 - - - - (2.42) 90.6 % (0.05)
Q1 2010 - - - - 6.32 201.0 % 0.13
Q2 2010 - - - - (2.83) (138.1 %) (0.06)
Q3 2010 - - - - 2.48 (46.2 %) 0.05
Q4 2010 - - - - 40.31 1769.2 % 0.82
Q1 2011 - - - - 4.79 (24.2 %) 0.10
Q2 2011 - - - - 2.88 202.0 % 0.06
Q3 2011 - - - - 1.43 (42.4 %) 0.03
Q4 2011 - - - - (8.97) (122.2 %) (0.18)
Q1 2012 3.38 - 3.38 - 3.29 (31.2 %) 0.07
Q2 2012 - - (3.38) - 4.44 54.1 % 0.09
Q3 2012 - - - - (1.45) (201.5 %) (0.03)
Q4 2012 - - - - (3.62) 59.6 % (0.07)
Q1 2013 1.43 (57.6 %) 0.45 (86.7 %) 0.61 (81.6 %) 0.01
Q2 2013 2.26 - 0.54 116.0 % 3.53 (20.6 %) 0.07
Q3 2013 1.13 - (0.06) - 1.17 180.6 % 0.02
Q4 2013 1.65 - (0.28) - 10.71 395.8 % 0.22
Q1 2014 0.73 (49.1 %) 0.00 (100.4 %) 4.70 674.8 % 0.10
Q2 2014 2.47 9.4 % 0.58 6.9 % (4.11) (216.6 %) (0.08)
Q3 2014 1.02 (10.1 %) (0.08) (36.1 %) (12.83) (1198.1 %) (0.26)
Q4 2014 2.57 55.5 % 0.25 189.2 % (22.37) (308.8 %) (0.46)
Q1 2015 9.51 1202.9 % 2.66 132900.0 % 4.74 0.9 % 0.10

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2006 2.61 % (8.88 %) 362.75 %
Q2 2006 (6.88 %) (17.31 %) 433.93 %
Q3 2006 (19.26 %) (28.36 %) 626.68 %
Q4 2006 (8.47 %) (16.59 %) 397.75 %
Q1 2007 4.03 % (9.21 %) 210.33 %
Q2 2007 12.71 % (12.83 %) 75.22 %
Q3 2007 19.52 % (4.30 %) (31.41 %)
Q4 2007 25.28 % (23.75 %) 190.16 %
Q1 2008 25.14 % (67.10 %) 383.50 %
Q2 2008 24.06 % (373.12 %) 2,587.87 %
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 100.00 % (39.20 %) 134.47 %
Q2 2012 - (141.95 %) 180.58 %
Q3 2012 - (133.40 %) 95.48 %
Q4 2012 - (139.43 %) 78.81 %
Q1 2013 (204.53 %) (539.68 %) (1.46 %)
Q2 2013 26.79 % (99.59 %) (25.35 %)
Q3 2013 19.25 % (89.06 %) 34.82 %
Q4 2013 10.04 % (95.52 %) 315.10 %
Q1 2014 3.43 % (103.24 %) 424.48 %
Q2 2014 3.93 % (88.57 %) 281.77 %
Q3 2014 3.63 % (128.17 %) 620.97 %
Q4 2014 10.92 % (157.30 %) 217.25 %
Q1 2015 21.83 % (65.06 %) 75.87 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2006 49.00 2.01 2.01 11.25
Q2 2006 49.00 1.91 1.91 10.25
Q3 2006 49.00 2.14 2.14 10.36
Q4 2006 49.00 1.45 1.45 9.31
Q1 2007 49.00 0.93 0.93 9.21
Q2 2007 49.00 0.37 0.37 9.12
Q3 2007 49.00 (0.14) (0.14) 9.64
Q4 2007 49.00 0.69 0.69 10.62
Q1 2008 49.00 0.71 0.71 10.51
Q2 2008 49.00 0.79 0.79 10.65
Q3 2008 49.00 (0.27) (0.27) 9.48
Q4 2008 49.00 (1.15) (0.65) 8.11
Q1 2009 49.00 (1.40) (0.89) 7.96
Q2 2009 49.00 (1.41) (0.91) 8.45
Q3 2009 49.00 (0.41) 0.09 8.70
Q4 2009 49.00 0.07 0.07 8.57
Q1 2010 49.00 0.33 0.33 8.87
Q2 2010 49.00 0.12 0.12 8.65
Q3 2010 49.00 0.07 0.07 8.73
Q4 2010 49.00 0.94 1.35 9.78
Q1 2011 49.00 0.91 1.32 9.84
Q2 2011 49.00 1.03 1.44 9.85
Q3 2011 49.00 1.01 1.42 9.79
Q4 2011 49.00 0.00 0.12 9.60
Q1 2012 49.00 (0.03) 0.09 10.22
Q2 2012 49.00 0.00 0.12 9.77
Q3 2012 49.00 (0.05) 0.07 9.86
Q4 2012 49.00 0.05 0.05 9.87
Q1 2013 49.00 0.00 0.00 9.92
Q2 2013 49.00 (0.02) (0.02) 10.13
Q3 2013 49.00 0.03 0.03 10.33
Q4 2013 49.00 0.33 0.42 10.71
Q1 2014 49.00 0.41 0.50 10.68
Q2 2014 49.00 0.25 0.34 10.71
Q3 2014 49.00 (0.03) 0.74 10.52
Q4 2014 49.00 (0.71) 0.30 9.90
Q1 2015 49.00 (0.71) 0.24 10.17

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2006 31.81 31.81 5.69
Q2 2006 More than 50 More than 50 13.02
Q3 2006 More than 50 More than 50 12.65
Q4 2006 33.55 33.55 5.22
Q1 2007 49.53 49.53 5.00
Q2 2007 More than 50 More than 50 3.83
Q3 2007 NEG NEG 4.63
Q4 2007 More than 50 More than 50 4.54
Q1 2008 More than 50 More than 50 3.63
Q2 2008 43.86 43.86 3.24
Q3 2008 NEG NEG 2.07
Q4 2008 NEG NEG 1.75
Q1 2009 NEG NEG 2.68
Q2 2009 NEG NEG 2.28
Q3 2009 NEG More than 50 2.14
Q4 2009 More than 50 More than 50 2.07
Q1 2010 More than 50 More than 50 2.21
Q2 2010 More than 50 More than 50 2.04
Q3 2010 More than 50 More than 50 1.89
Q4 2010 19.25 13.44 1.86
Q1 2011 19.19 13.26 1.78
Q2 2011 17.58 12.59 1.84
Q3 2011 16.08 11.44 1.66
Q4 2011 More than 50 More than 50 2.24
Q1 2012 NEG More than 50 3.51
Q2 2012 More than 50 More than 50 2.17
Q3 2012 NEG More than 50 2.51
Q4 2012 More than 50 More than 50 2.18
Q1 2013 NEG NEG 2.50
Q2 2013 NEG NEG 2.17
Q3 2013 More than 50 More than 50 2.40
Q4 2013 More than 50 More than 50 2.27
Q1 2014 More than 50 More than 50 2.63
Q2 2014 More than 50 More than 50 2.70
Q3 2014 NEG 42.36 3.00
Q4 2014 NEG More than 50 2.42
Q1 2015 NEG More than 50 2.36

Business Segments (Million)

Compared With The
Period medical service Manufacturing sector Investments Food
Q1 2013 - - 3.29 1.43
Q2 2013 - - 5.37 2.26
Q3 2013 - - 3.62 1.13
Q4 2013 - - 2.52 1.65
Q1 2014 - 0.73 - -
Q2 2014 - 2.47 - -
Q3 2014 - 1.02 - -
Q4 2014 - 2.57 - -
Q1 2015 6.92 2.59 - -


Financial Ratios
Current
Market Cap (M Riyal) 1,595.06
Enterprise Value (EV) (M) 2,284.94
Shares Outstanding ((M)) 80.64
EPS ( Riyal) (TTM) (2.79)
Book Value (BV) ( Riyal) 5.49
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 3.60
Return on Average Assets (%) (TTM) (13.51 )
Return on Average Equity (%) (TTM) (39.81 )
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