Lazurde turns to SAR 67.8 mln loss in H1 2020

Lazurde turns to SAR 67.8 mln loss in H1 2020

20/08/2020 Argaam Exclusive

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Lazurde Company for Jewelry reported net loss after Zakat and tax of SAR 67.8 million for the first half of 2020, versus net profit of SAR 24.1 million in year-earlier period, driven by a slump of 33.4% in the group's total revenue.



Financials (M)

Item 6m 2019 6m 2020 Change‬
Revenues 1,207.29 615.91 (49.0 %)
Gross Income 176.77 91.68 (48.1 %)
Operating Income 58.44 (3.73) (106.4 %)
Net Income 24.12 (67.78) (381.1 %)
Average Shares 50.51 50.51 -
EPS (Riyals) 0.48 (1.34) (381.1 %)

Lazurde also cited 42.9% lower operating revenue, in addition to a 57.3% fall in wholesale revenue from KSA operations.



Current Quarter Comparison (M)

Compared With The
Item Q2 2019 Q2 2020 Change‬
Revenues 533.76 170.92 (68.0 %)
Gross Income 80.79 21.11 (73.9 %)
Operating Income 28.05 (16.15) (157.6 %)
Net Income 12.16 (66.17) (644.4 %)
Average Shares 50.51 50.51 -
EPS (Riyals) 0.24 (1.31) (644.4 %)

The jewelry maker reported net loss after Zakat and tax of SAR 66.2 million in Q2 2020, versus net profit of SAR 12.2 million in year-earlier period, due to a 68% drop in gross revenue and a 63.1% plunge in gross operating revenues.

 

On a quarter-on-quarter basis, the company widened losses, compared to SAR 1.6 million in Q1 2020.



Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Riyal)
Q1 2011 - - - - - - -
Q2 2011 - - - - - - -
Q3 2011 - - - - - - -
Q4 2011 - - - - - - -
Q1 2012 - - - - - - -
Q2 2012 - - - - - - -
Q3 2012 - - - - - - -
Q4 2012 - - - - - - -
Q1 2013 - - - - - - -
Q2 2013 - - - - - - -
Q3 2013 - - - - - - -
Q4 2013 - - - - - - -
Q1 2014 - - - - - - -
Q2 2014 - - - - - - -
Q3 2014 - - - - - - -
Q4 2014 - - - - - - -
Q1 2015 937.68 - 111.85 - 41.25 - 0.82
Q2 2015 764.54 - 87.77 - 22.50 - 0.45
Q3 2015 671.13 - 83.84 - 24.98 - 0.49
Q4 2015 440.85 - 55.87 - 11.84 - 0.23
Q1 2016 883.55 (5.8 %) 117.33 4.9 % 51.01 23.7 % 1.01
Q2 2016 552.19 (27.8 %) 40.49 (53.9 %) (7.04) (131.3 %) (0.14)
Q3 2016 406.33 (39.5 %) 73.89 (11.9 %) 28.75 15.1 % 0.57
Q4 2016 176.24 (60.0 %) 12.84 (77.0 %) (0.77) (106.5 %) (0.02)
Q1 2017 604.69 (31.6 %) 74.15 (36.8 %) 21.99 (56.9 %) 0.44
Q2 2017 411.84 (25.4 %) 51.63 27.5 % 6.42 191.3 % 0.13
Q3 2017 399.91 (1.6 %) 44.94 (39.2 %) 0.50 (98.3 %) 0.01
Q4 2017 336.07 90.7 % 46.76 264.2 % 2.63 443.3 % 0.05
Q1 2018 554.63 (8.3 %) 68.46 (7.7 %) 9.03 (58.9 %) 0.18
Q2 2018 460.75 11.9 % 55.98 8.4 % 4.85 (24.6 %) 0.10
Q3 2018 481.13 20.3 % 58.76 30.8 % 3.70 637.5 % 0.07
Q4 2018 415.85 23.7 % 60.87 30.2 % 0.09 (96.6 %) 0.00
Q1 2019 673.53 21.4 % 95.97 40.2 % 11.96 32.5 % 0.24
Q2 2019 533.76 15.8 % 80.79 44.3 % 12.16 150.9 % 0.24
Q3 2019 486.23 1.1 % 65.57 11.6 % 0.24 (93.7 %) 0.00
Q4 2019 282.89 (32.0 %) 45.48 (25.3 %) (41.90) (46654.4 %) (0.83)
Q1 2020 444.99 (33.9 %) 70.57 (26.5 %) (1.61) (113.5 %) (0.03)
Q2 2020 170.92 (68.0 %) 21.11 (73.9 %) (66.17) (644.4 %) (1.31)

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2011 - - -
Q2 2011 - - -
Q3 2011 - - -
Q4 2011 - - -
Q1 2012 - - -
Q2 2012 - - -
Q3 2012 - - -
Q4 2012 - - -
Q1 2013 - - -
Q2 2013 - - -
Q3 2013 - - -
Q4 2013 - - -
Q1 2014 - - -
Q2 2014 - - -
Q3 2014 - - -
Q4 2014 - - -
Q1 2015 - - -
Q2 2015 - - -
Q3 2015 - - -
Q4 2015 12.06 % 5.66 % 3.57 %
Q1 2016 12.49 % 5.81 % 4.00 %
Q2 2016 11.68 % 5.11 % 3.17 %
Q3 2016 12.60 % 5.99 % 3.70 %
Q4 2016 12.12 % 3.89 % 1.37 %
Q1 2017 11.58 % 3.48 % (0.07 %)
Q2 2017 13.29 % 4.43 % 0.76 %
Q3 2017 11.53 % 2.60 % (1.01 %)
Q4 2017 12.41 % 4.87 % 1.80 %
Q1 2018 12.44 % 4.33 % 1.09 %
Q2 2018 12.34 % 4.32 % 0.97 %
Q3 2018 12.55 % 4.42 % 1.10 %
Q4 2018 12.76 % 4.27 % 0.92 %
Q1 2019 13.37 % 4.77 % 1.01 %
Q2 2019 14.09 % 5.50 % 1.33 %
Q3 2019 14.37 % 5.75 % 1.16 %
Q4 2019 14.56 % 5.53 % 0.01 %
Q1 2020 15.01 % 5.26 % (0.76 %)
Q2 2020 14.64 % 3.47 % (4.11 %)


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2011 - - - -
Q2 2011 - - - -
Q3 2011 - - - -
Q4 2011 - - - 6.93
Q1 2012 - - - -
Q2 2012 - - - -
Q3 2012 - - - -
Q4 2012 - - - 7.88
Q1 2013 - - - -
Q2 2013 - - - -
Q3 2013 - - - -
Q4 2013 - - - 9.23
Q1 2014 - - - -
Q2 2014 - - - -
Q3 2014 - - - -
Q4 2014 - - - 9.57
Q1 2015 50.51 - - 10.13
Q2 2015 50.51 - - 9.73
Q3 2015 50.51 - - 10.12
Q4 2015 50.51 1.99 1.99 9.72
Q1 2016 50.51 2.18 2.18 9.62
Q2 2016 50.51 1.60 1.60 9.48
Q3 2016 50.51 1.67 1.67 10.07
Q4 2016 50.51 1.42 0.55 7.97
Q1 2017 50.51 0.85 (0.03) 8.35
Q2 2017 50.51 1.12 0.24 8.03
Q3 2017 50.51 0.56 (0.32) 8.02
Q4 2017 50.51 0.62 0.62 8.05
Q1 2018 50.51 0.37 0.37 8.30
Q2 2018 50.51 0.34 0.34 8.37
Q3 2018 50.51 0.40 0.40 8.45
Q4 2018 50.51 0.35 0.35 8.44
Q1 2019 50.51 0.41 0.41 8.73
Q2 2019 50.51 0.55 0.55 9.04
Q3 2019 50.51 0.48 0.48 9.08
Q4 2019 50.51 (0.35) 0.00 8.28
Q1 2020 50.51 (0.62) (0.26) 8.28
Q2 2020 50.51 (2.17) (1.13) 6.88

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2011 - - -
Q2 2011 - - -
Q3 2011 - - -
Q4 2011 - - -
Q1 2012 - - -
Q2 2012 - - -
Q3 2012 - - -
Q4 2012 - - -
Q1 2013 - - -
Q2 2013 - - -
Q3 2013 - - -
Q4 2013 - - -
Q1 2014 - - -
Q2 2014 - - -
Q3 2014 - - -
Q4 2014 - - -
Q1 2015 - - -
Q2 2015 - - -
Q3 2015 - - -
Q4 2015 - - -
Q1 2016 - - -
Q2 2016 22.70 22.70 3.83
Q3 2016 12.15 12.15 2.02
Q4 2016 14.72 38.19 2.63
Q1 2017 28.62 NEG 2.91
Q2 2017 19.72 91.32 2.74
Q3 2017 38.64 NEG 2.69
Q4 2017 28.54 28.54 2.21
Q1 2018 46.62 46.62 2.07
Q2 2018 52.73 52.73 2.12
Q3 2018 40.46 40.46 1.92
Q4 2018 44.33 44.33 1.84
Q1 2019 38.83 38.83 1.81
Q2 2019 27.01 27.01 1.65
Q3 2019 31.64 31.64 1.69
Q4 2019 NEG More than 100 1.99
Q1 2020 NEG NEG 1.26
Q2 2020 NEG NEG 1.77

Business Segments (Million)

Compared With The
Period Wholesale sector Retail sector
Q3 2014 607.97 15.45
Q4 2014 467.30 15.74
Q1 2015 914.24 23.44
Q2 2015 743.57 20.98
Q3 2015 649.49 21.63
Q4 2015 422.71 18.14
Q1 2016 857.85 25.70
Q2 2016 531.37 20.82
Q3 2016 390.73 15.60
Q4 2016 155.77 20.48
Q1 2017 573.29 31.40
Q2 2017 387.78 24.06
Q3 2017 374.26 25.65
Q4 2017 302.53 33.54
Q1 2018 516.41 38.22
Q2 2018 433.24 27.52
Q3 2018 450.60 30.53
Q4 2018 374.45 41.39
Q1 2019 613.94 59.59
Q2 2019 475.32 58.44
Q3 2019 438.25 47.98
Q4 2019 234.62 48.27
Q1 2020 398.12 46.87
Q2 2020 147.19 23.73


Financial Ratios
Current
Market Cap (M Riyal) 893.55
Enterprise Value (EV) (M) 2,162.92
Shares Outstanding ((M)) 57.50
EPS ( Riyal) (TTM) 0.82
Book Value (BV) ( Riyal) 5.58
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 24.11
P/E (TTM) 18.94
Price/book 2.79
Return on Average Assets (%) (TTM) 2.6
Return on Average Equity (%) (TTM) 13.5
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Share Price

Lazurde Company for Jewelry
15.56
0.16 1.04 %

Lazurde Company for Jewelry (LAZURDE)

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