Arabian Centres posts 10% decline in FY2021/22 net profit to SAR 437 mln; Q4 at SAR 106.9 mln

Arabian Centres Co. (ACC) posted a 10% drop in net profit after Zakat and tax to SAR 437 million for the fiscal year ended March 2022, compared to SAR 486.7 million a year earlier.

Financials (M)

Item	2020	2021	Change‬
Revenues	1,856.36	2,037.49	9.8 %
Gross Income	1,023.14	1,678.04	64.0 %
Operating Income	673.01	1,347.94	100.3 %
Net Income	486.66	775.43	59.3 %
Average Shares	475.00	475.00	-
EPS (Riyals)	1.02	1.63	59.3 %

The company reported an 8.7% increase year-on-year (YoY) in direct costs to SAR 342.8 million in the current fiscal year. ACC’s other income fell by 81.2% YoY to SAR 27.4 million.

Administrative and promotion expenses jumped by 25.5% YoY to SAR 25.4 million, with general and administrative expenses (G&A) rising 29.7% YoY to SAR 248.3 million for the same period.

ACC also reported a decline in its profit share from an equity-accounted investee, which incurred a loss of SAR 15 million in FY2021/22 against a profit of SAR 1.7 million for the fiscal year ended March 2021.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2020	Q4 2021	Change‬
Revenues	446.25	-	-
Gross Income	220.77	-	-
Operating Income	127.01	-	-
Net Income	129.45	-	-
Average Shares	475.00	-	-
EPS (Riyals)	0.27	-	-

Item	Q3 2021	Q4 2021	Change‬
Revenues	510.60	-	-
Gross Income	410.90	-	-
Operating Income	308.28	-	-
Net Income	382.08	-	-
Average Shares	475.00	-	-
EPS (Riyals)	0.80	-	-

The fourth-quarter net profit after Zakat and tax fell 17% to SAR 106.88 million, from SAR 129.45 million in the year-ago period.

Shareholders’ equity, after minority interest, decreased by 4.5% to SAR 5.780 billion as of March 31, 2022, compared to SAR 6.052 billion a year earlier.

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Share Price

Arabian Centres Co. (CENOMI CENTERS)

	Current
Market Cap (M Riyal)	9,471.50
Enterprise Value (EV) (M)	20,088.08
Shares Outstanding ((M))	475.00
EPS ( Riyal) (TTM)	2.89
Book Value (BV) ( Riyal)	30.75
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	13.49
P/E (TTM)	6.90
Price/book	0.65
Return on Average Assets (%) (TTM)	4.8
Return on Average Equity (%) (TTM)	9.7

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
Q1 2012	-	-	-	-	-	-
Q2 2012	-	-	-	-	-	-
Q3 2012	-	-	-	-	-	-
Q4 2012	-	-	-	-	-	-
2012	-	-	-	-	-	-
Q1 2013	-	-	-	-	-	-
Q2 2013	-	-	-	-	-	-
Q3 2013	-	-	-	-	-	-
Q4 2013	-	-	-	-	-	-
2013	-	-	-	-	-	-
Q1 2014	-	-	-	-	-	-
Q2 2014	-	-	-	-	-	-
Q3 2014	-	-	-	-	-	-
Q4 2014	-	-	-	-	-	-
2014	1,638.60	-	1,224.76	-	1,158.12	-
Q1 2015	-	-	-	-	-	-
Q2 2015	-	-	-	-	-	-
Q3 2015	-	-	-	-	-	-
Q4 2015	-	-	-	-	-	-
2015	1,852.21	13.0 %	1,289.23	5.3 %	1,127.95	(2.6 %)
Q1 2016	-	-	-	-	-	-
Q2 2016	-	-	-	-	-	-
Q3 2016	-	-	-	-	-	-
Q4 2016	-	-	-	-	-	-
2016	2,123.77	14.7 %	1,313.02	1.8 %	1,135.26	0.6 %
Q1 2017	-	-	-	-	-	-
Q2 2017	-	-	-	-	-	-
Q3 2017	-	-	-	-	-	-
Q4 2017	559.79	-	369.82	-	314.76	-
2017	2,160.51	1.7 %	1,365.11	4.0 %	1,177.61	3.7 %
Q1 2018	558.31	-	355.85	-	316.60	-
Q2 2018	531.57	-	326.91	-	282.04	-
Q3 2018	530.11	-	340.51	-	294.62	-
Q4 2018	556.41	(0.6 %)	370.64	0.2 %	323.18	2.7 %
2018	2,176.40	0.7 %	1,393.91	2.1 %	1,216.44	3.3 %
Q1 2019	572.50	2.5 %	392.78	10.4 %	343.31	8.4 %
Q2 2019	559.12	5.2 %	366.32	12.1 %	322.03	14.2 %
Q3 2019	557.54	5.2 %	361.73	6.2 %	314.60	6.8 %
Q4 2019	508.15	(8.7 %)	317.61	(14.3 %)	262.87	(18.7 %)
2019	2,197.32	1.0 %	1,438.44	3.2 %	1,242.82	2.2 %
Q1 2020	475.85	(16.9 %)	298.65	(24.0 %)	230.77	(32.8 %)
Q2 2020	464.84	(16.9 %)	254.77	(30.5 %)	162.43	(49.6 %)
Q3 2020	469.41	(15.8 %)	248.94	(31.2 %)	152.81	(51.4 %)
Q4 2020	446.25	(12.2 %)	220.77	(30.5 %)	127.01	(51.7 %)
2020	1,856.36	(15.5 %)	1,023.14	(28.9 %)	673.01	(45.8 %)
Q1 2021	510.68	7.3 %	414.33	38.7 %	341.13	47.8 %
Q2 2021	497.04	6.9 %	406.75	59.7 %	319.77	96.9 %
Q3 2021	510.60	8.8 %	410.90	65.1 %	308.28	101.7 %
Q4 2021	-	-	-	-	-	-
2021	2,037.49	9.8 %	1,678.04	64.0 %	1,347.94	100.3 %

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2012	-	-	-	-	-	-
2013	-	-	-	-	-	-
2014	1,638.60	-	1,224.76	-	1,158.12	-
2015	1,852.21	13.0 %	1,289.23	5.3 %	1,127.95	(2.6 %)
2016	2,123.77	14.7 %	1,313.02	1.8 %	1,135.26	0.6 %
2017	2,160.51	1.7 %	1,365.11	4.0 %	1,177.61	3.7 %
2018	2,176.40	0.7 %	1,393.91	2.1 %	1,216.44	3.3 %
2019	2,197.32	1.0 %	1,438.44	3.2 %	1,242.82	2.2 %
2020	1,856.36	(15.5 %)	1,023.14	(28.9 %)	673.01	(45.8 %)
2021	2,037.49	9.8 %	1,678.04	64.0 %	1,347.94	100.3 %

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
Q1 2012	-	-	-	-	-	-
Q2 2012	-	-	-	-	-	-
Q3 2012	-	-	-	-	-	-
Q4 2012	-	-	-	-	-	-
2012	-	-	-	-	-	-
Q1 2013	-	-	-	-	-	-
Q2 2013	-	-	-	-	-	-
Q3 2013	-	-	-	-	-	-
Q4 2013	-	-	-	-	-	-
2013	-	-	-	-	-	-
Q1 2014	-	-	-	-	-	-
Q2 2014	-	-	-	-	-	-
Q3 2014	-	-	-	-	-	-
Q4 2014	-	-	-	-	-	-
2014	1,018.66	-	2.14	-	1,018.66	2.14
Q1 2015	-	-	-	-	-	-
Q2 2015	-	-	-	-	-	-
Q3 2015	-	-	-	-	-	-
Q4 2015	-	-	-	-	-	-
2015	981.13	(3.7 %)	2.07	-	981.13	2.07
Q1 2016	-	-	-	-	-	-
Q2 2016	-	-	-	-	-	-
Q3 2016	-	-	-	-	-	-
Q4 2016	-	-	-	-	-	-
2016	931.73	(5.0 %)	1.96	-	931.73	1.96
Q1 2017	-	-	-	-	-	-
Q2 2017	-	-	-	-	-	-
Q3 2017	-	-	-	-	-	-
Q4 2017	236.95	-	0.50	11.06	225.89	0.48
2017	774.57	(16.9 %)	1.63	25.13	749.44	1.58
Q1 2018	77.40	-	0.16	-	77.40	0.16
Q2 2018	188.90	-	0.40	-	188.90	0.40
Q3 2018	272.10	-	0.57	-	272.10	0.57
Q4 2018	251.20	6.0 %	0.53	-	251.20	0.53
2018	789.60	1.9 %	1.66	-	789.60	1.66
Q1 2019	223.01	188.1 %	0.47	-	223.01	0.47
Q2 2019	205.04	8.5 %	0.43	-	205.04	0.43
Q3 2019	107.89	(60.3 %)	0.23	-	107.89	0.23
Q4 2019	97.99	(61.0 %)	0.21	-	97.99	0.21
2019	633.93	(19.7 %)	1.33	-	633.93	1.33
Q1 2020	152.76	(31.5 %)	0.32	35.30	117.46	0.25
Q2 2020	109.03	(46.8 %)	0.23	37.65	71.37	0.15
Q3 2020	95.42	(11.6 %)	0.20	46.52	48.91	0.10
Q4 2020	129.45	32.1 %	0.27	-	129.45	0.27
2020	486.66	(23.2 %)	1.02	119.47	367.19	0.77
Q1 2021	126.61	(17.1 %)	0.27	-	126.61	0.27
Q2 2021	91.57	(16.0 %)	0.19	-	91.57	0.19
Q3 2021	382.08	300.4 %	0.80	-	382.08	0.80
Q4 2021	-	-	-	-	-	-
2021	775.43	59.3 %	1.63	(74.13)	849.56	1.79

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2012	-	-	-	-	-	-
2013	-	-	-	-	-	-
2014	1,018.66	-	2.14	-	1,018.66	2.14
2015	981.13	(3.7 %)	2.07	-	981.13	2.07
2016	931.73	(5.0 %)	1.96	-	931.73	1.96
2017	774.57	(16.9 %)	1.63	25.13	749.44	1.58
2018	789.60	1.9 %	1.66	-	789.60	1.66
2019	633.93	(19.7 %)	1.33	-	633.93	1.33
2020	486.66	(23.2 %)	1.02	119.47	367.19	0.77
2021	775.43	59.3 %	1.63	(74.13)	849.56	1.79

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2012	-	-	-
Q2 2012	-	-	-
Q3 2012	-	-	-
Q4 2012	-	-	-
2012	-	-	-
Q1 2013	-	-	-
Q2 2013	-	-	-
Q3 2013	-	-	-
Q4 2013	-	-	-
2013	-	-	-
Q1 2014	-	-	-
Q2 2014	-	-	-
Q3 2014	-	-	-
Q4 2014	-	-	-
2014	74.74 %	80.99 %	62.17 %
Q1 2015	-	-	-
Q2 2015	-	-	-
Q3 2015	-	-	-
Q4 2015	-	-	-
2015	69.60 %	72.28 %	52.97 %
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	-	-	-
Q4 2016	-	-	-
2016	61.82 %	64.87 %	43.87 %
Q1 2017	-	-	-
Q2 2017	-	-	-
Q3 2017	-	-	-
Q4 2017	-	-	-
2017	63.18 %	68.35 %	34.69 %
Q1 2018	-	-	-
Q2 2018	-	-	-
Q3 2018	63.91 %	68.71 %	35.06 %
Q4 2018	64.05 %	69.32 %	36.28 %
2018	64.05 %	69.32 %	36.28 %
Q1 2019	65.32 %	72.09 %	42.69 %
Q2 2019	66.28 %	71.30 %	42.89 %
Q3 2019	66.42 %	71.59 %	35.05 %
Q4 2019	65.46 %	78.26 %	28.85 %
2019	65.46 %	78.26 %	28.85 %
Q1 2020	63.99 %	77.11 %	25.15 %
Q2 2020	61.44 %	77.77 %	19.67 %
Q3 2020	58.38 %	75.67 %	17.50 %
Q4 2020	55.12 %	65.80 %	19.78 %
2020	55.12 %	65.80 %	19.78 %
Q1 2021	60.22 %	64.12 %	19.90 %
Q2 2021	67.11 %	64.36 %	20.62 %
Q3 2021	73.95 %	64.36 %	37.14 %
Q4 2021	-	-	-
2021	82.36 %	67.12 %	41.70 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2012	-	-	-
2013	-	-	-
2014	74.74 %	80.99 %	62.17 %
2015	69.60 %	72.28 %	52.97 %
2016	61.82 %	64.87 %	43.87 %
2017	63.18 %	68.35 %	34.69 %
2018	64.05 %	69.32 %	36.28 %
2019	65.46 %	78.26 %	28.85 %
2020	55.12 %	65.80 %	19.78 %
2021	82.36 %	67.12 %	41.70 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
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	-	-	-
Q3 2016	-	-	-
Q4 2016	-	-	-
Q1 2017	-	-	-
Q2 2017	-	-	-
Q3 2017	-	-	-
Q4 2017	66.06 %	69.46 %	40.35 %
Q1 2018	63.74 %	68.93 %	13.86 %
Q2 2018	61.50 %	66.90 %	35.54 %
Q3 2018	64.23 %	69.50 %	51.33 %
Q4 2018	66.61 %	71.87 %	45.15 %
Q1 2019	68.61 %	79.52 %	38.95 %
Q2 2019	65.52 %	64.04 %	36.67 %
Q3 2019	64.88 %	70.75 %	19.35 %
Q4 2019	62.50 %	100.74 %	19.28 %
Q1 2020	62.76 %	74.69 %	24.68 %
Q2 2020	54.81 %	64.25 %	15.35 %
Q3 2020	53.03 %	60.83 %	10.42 %
Q4 2020	49.47 %	63.19 %	29.01 %
Q1 2021	81.13 %	67.83 %	24.79 %
Q2 2021	81.83 %	65.19 %	18.42 %
Q3 2021	80.47 %	61.09 %	74.83 %
Q4 2021	-	-	-

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
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	-	-	-	-
Q3 2016	-	-	-	-
Q4 2016	-	-	-	-
Q1 2017	-	-	-	-
Q2 2017	-	-	-	-
Q3 2017	-	-	-	-
Q4 2017	475.00	-	-	10.32
Q1 2018	475.00	-	-	10.13
Q2 2018	475.00	-	-	-
Q3 2018	475.00	1.63	1.61	10.14
Q4 2018	475.00	1.66	1.66	10.66
Q1 2019	475.00	1.97	1.97	12.63
Q2 2019	475.00	2.00	2.00	13.05
Q3 2019	475.00	1.66	1.66	12.38
Q4 2019	475.00	1.33	1.33	12.60
Q1 2020	475.00	1.19	1.11	12.97
Q2 2020	475.00	0.98	0.83	12.78
Q3 2020	475.00	0.96	0.71	12.46
Q4 2020	475.00	1.02	0.77	12.74
Q1 2021	475.00	0.97	0.79	12.26
Q2 2021	475.00	0.93	0.83	12.45
Q3 2021	475.00	1.54	1.54	32.19
Q4 2021	-	-	-	-

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2012	-	-	-	-
2013	-	-	-	-
2014	475.00	2.14	2.14	9.59
2015	475.00	2.07	2.07	9.82
2016	475.00	1.96	1.96	10.28
2017	475.00	1.63	1.58	10.32
2018	475.00	1.66	1.66	10.66
2019	475.00	1.33	1.33	12.60
2020	475.00	1.02	0.77	12.74
2021	475.00	1.63	1.79	28.51

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
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	-	-	-
Q3 2016	-	-	-
Q4 2016	-	-	-
Q1 2017	-	-	-
Q2 2017	-	-	-
Q3 2017	-	-	-
Q4 2017	-	-	-
Q1 2018	-	-	-
Q2 2018	-	-	-
Q3 2018	-	-	-
Q4 2018	-	-	-
Q1 2019	-	-	-
Q2 2019	12.91	12.91	1.98
Q3 2019	18.31	18.31	2.45
Q4 2019	21.84	21.84	2.31
Q1 2020	17.78	18.97	1.63
Q2 2020	22.53	26.69	1.74
Q3 2020	27.76	37.63	2.13
Q4 2020	24.45	32.41	1.97
Q1 2021	23.00	28.15	1.82
Q2 2021	28.09	31.38	2.11
Q3 2021	16.13	16.13	0.77
Q4 2021	-	-	-

Period	P/E	Adjusted P/E	Price/book
2012	-	-	-
2013	-	-	-
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	21.84	21.84	2.31
2020	24.45	32.41	1.97
2021	13.83	12.62	0.79

Business Segments (Million)

Compared With The

Period	Rental income	Service and management fee income	Turnover rent	Commission income on provisions for utilities, net
Q1 2019	537.81	24.49	9.43	0.77
Q3 2019	534.25	22.40	-	0.89
Q1 2020	449.91	21.63	3.88	0.43
Q2 2020	435.40	23.15	5.45	0.85
Q3 2020	444.97	21.69	1.85	0.89
Q4 2020	405.95	23.11	16.59	0.60
Q1 2021	474.98	20.35	14.63	0.72
Q2 2021	459.06	19.54	16.77	1.67
Q3 2021	470.33	26.58	12.34	1.15
Q4 2021	477.31	30.45	10.87	0.75

Period	Rental income	Service and management fee income	Turnover rent	Commission income on provisions for utilities, net
2017	2,050.41	93.96	12.59	3.56
2018	2,057.78	97.54	17.58	3.51
2019	2,038.14	93.48	62.40	3.30
2020	1,736.24	89.58	27.77	2.77
2021	1,881.68	96.92	54.60	4.28

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Arabian Centres posts 10% decline in FY2021/22 net profit to SAR 437 mln; Q4 at SAR 106.9 mln

Financials (M)

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Arabian Centres Co. (CENOMI CENTERS)

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Financial results (Million)

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Profit Performance (Million)

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Arabian Centres posts 10% decline in FY2021/22 net profit to SAR 437 mln; Q4 at SAR 106.9 mln

Financials (M)

Current Quarter Comparison (M)

View other reports

Share Price

Arabian Centres Co. (CENOMI CENTERS)

Financial Ratios

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million) Q4 2021

Revenue by Business Segment (Latest) 2021 Q4

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