Alsaif Gallery Q1 net profit drops to SAR 50.5 mln

Alsaif Gallery Q1 net profit drops to SAR 50.5 mln

18/05/2023 Argaam Exclusive

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AlSaif Stores for Development and Investment Co. (Alsaif Gallery) reported a net profit of SAR 50.5 million in the first quarter of 2023, a decline of 15% from SAR 59.1 million in the year-earlier period.



Current Quarter Comparison (M)

Compared With The
Item Q1 2022 Q1 2023 Change‬
Revenues 252.95 229.42 (9.3 %)
Gross Income 85.41 77.54 (9.2 %)
Operating Income 58.11 48.97 (15.7 %)
Net Income 59.09 50.55 (14.5 %)
Average Shares 350.00 350.00 -
EPS (Riyals) 0.17 0.14 (14.5 %)

The lower profit was driven by a 9.3% year-on-year (YoY) fall in sales due to the end of the seasonal sales season and the start of Ramadan. In addition, selling and marketing expenses increased by 10.6% YoY.

 

On a quarterly basis, net earnings surged 80.2% from SAR 28.05 million in Q4 2022.

 

Shareholders’ equity, no minority interest, stood at SAR 426.65 million as of March 31, 2023, compared to SAR 440.23 million a year earlier.

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Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Riyal)
Q1 2014 - - - - - - -
Q2 2014 - - - - - - -
Q3 2014 - - - - - - -
Q4 2014 - - - - - - -
Q1 2015 - - - - - - -
Q2 2015 - - - - - - -
Q3 2015 - - - - - - -
Q4 2015 - - - - - - -
Q1 2016 - - - - - - -
Q2 2016 - - - - - - -
Q3 2016 - - - - - - -
Q4 2016 - - - - - - -
Q1 2017 - - - - - - -
Q2 2017 - - - - - - -
Q3 2017 - - - - - - -
Q4 2017 - - - - - - -
Q1 2018 - - - - - - -
Q2 2018 - - - - - - -
Q3 2018 - - - - - - -
Q4 2018 - - - - - - -
Q1 2019 - - - - - - -
Q2 2019 - - - - - - -
Q3 2019 - - - - - - -
Q4 2019 - - - - - - -
Q1 2020 - - - - - - -
Q2 2020 - - - - - - -
Q3 2020 - - - - - - -
Q4 2020 - - - - - - -
Q1 2021 272.81 - 102.43 - 73.85 - 0.21
Q2 2021 187.46 - 59.91 - 34.52 - 0.10
Q3 2021 162.60 - 48.04 - 24.62 - 0.07
Q4 2021 202.43 - 65.14 - 51.90 - 0.15
Q1 2022 252.95 (7.3 %) 85.41 (16.6 %) 59.09 (20.0 %) 0.17
Q2 2022 129.62 (30.9 %) 40.71 (32.0 %) 15.12 (56.2 %) 0.04
Q3 2022 168.14 3.4 % 45.11 (6.1 %) 27.51 11.7 % 0.08
Q4 2022 188.40 (6.9 %) 35.02 (46.2 %) 28.05 (46.0 %) 0.08
Q1 2023 229.42 (9.3 %) 77.54 (9.2 %) 50.55 (14.5 %) 0.14

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2014 - - -
Q2 2014 - - -
Q3 2014 - - -
Q4 2014 - - -
Q1 2015 - - -
Q2 2015 - - -
Q3 2015 - - -
Q4 2015 - - -
Q1 2016 - - -
Q2 2016 - - -
Q3 2016 - - -
Q4 2016 - - -
Q1 2017 - - -
Q2 2017 - - -
Q3 2017 - - -
Q4 2017 - - -
Q1 2018 - - -
Q2 2018 - - -
Q3 2018 - - -
Q4 2018 - - -
Q1 2019 - - -
Q2 2019 - - -
Q3 2019 - - -
Q4 2019 - - -
Q1 2020 - - -
Q2 2020 - - -
Q3 2020 - - -
Q4 2020 - - -
Q1 2021 - - -
Q2 2021 - - -
Q3 2021 - - -
Q4 2021 33.39 % 23.00 % 22.40 %
Q1 2022 32.10 % 21.56 % 21.12 %
Q2 2022 32.01 % 22.41 % 20.16 %
Q3 2022 31.39 % 23.30 % 20.40 %
Q4 2022 27.91 % 19.76 % 15.53 %
Q1 2023 27.72 % 19.36 % 14.85 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2014 - - - -
Q2 2014 - - - -
Q3 2014 - - - -
Q4 2014 - - - -
Q1 2015 - - - -
Q2 2015 - - - -
Q3 2015 - - - -
Q4 2015 - - - -
Q1 2016 - - - -
Q2 2016 - - - -
Q3 2016 - - - -
Q4 2016 - - - -
Q1 2017 - - - -
Q2 2017 - - - -
Q3 2017 - - - -
Q4 2017 - - - -
Q1 2018 - - - -
Q2 2018 - - - -
Q3 2018 - - - -
Q4 2018 - - - -
Q1 2019 - - - -
Q2 2019 - - - -
Q3 2019 - - - -
Q4 2019 - - - -
Q1 2020 - - - -
Q2 2020 - - - -
Q3 2020 - - - -
Q4 2020 - - - -
Q1 2021 350.00 - - 1.20
Q2 2021 350.00 - - -
Q3 2021 350.00 - - 1.37
Q4 2021 350.00 0.53 0.53 1.09
Q1 2022 350.00 0.49 0.49 1.26
Q2 2022 350.00 0.43 0.43 1.12
Q3 2022 350.00 0.44 0.44 1.19
Q4 2022 350.00 0.37 0.33 1.17
Q1 2023 350.00 0.35 0.30 1.22

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2014 - - -
Q2 2014 - - -
Q3 2014 - - -
Q4 2014 - - -
Q1 2015 - - -
Q2 2015 - - -
Q3 2015 - - -
Q4 2015 - - -
Q1 2016 - - -
Q2 2016 - - -
Q3 2016 - - -
Q4 2016 - - -
Q1 2017 - - -
Q2 2017 - - -
Q3 2017 - - -
Q4 2017 - - -
Q1 2018 - - -
Q2 2018 - - -
Q3 2018 - - -
Q4 2018 - - -
Q1 2019 - - -
Q2 2019 - - -
Q3 2019 - - -
Q4 2019 - - -
Q1 2020 - - -
Q2 2020 - - -
Q3 2020 - - -
Q4 2020 - - -
Q1 2021 - - -
Q2 2021 - - -
Q3 2021 - - -
Q4 2021 - - -
Q1 2022 - - -
Q2 2022 - - -
Q3 2022 - - -
Q4 2022 24.41 27.59 7.70
Q1 2023 24.98 28.49 7.10

Business Segments (Million)

Compared With The
Period Branch retail E-COMMERCE Wholesale
Q1 2022 226.56 25.06 1.32
Q2 2022 117.90 8.83 2.89
Q3 2022 153.11 13.74 1.29
Q4 2022 167.46 18.64 2.30
Q1 2023 202.05 25.32 2.05


Financial Ratios
Current
Market Cap (M Riyal) 3,230.50
Enterprise Value (EV) (M) 3,395.01
Shares Outstanding ((M)) 350.00
EPS ( Riyal) (TTM) 0.23
Book Value (BV) ( Riyal) 1.24
Par Value ( Riyal) 1.00
Adjusted P/E (Last12) 40.96
P/E (TTM) 40.96
Price/book 7.45
Return on Average Assets (%) (TTM) 9.9
Return on Average Equity (%) (TTM) 18.3
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Share Price

AlSaif Stores for Development and Investment Co.
9.23
(0.02) (0.22 %)

AlSaif Stores for Development and Investment Co. (ALSAIF GALLERY)

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