AYYAN turns to SAR 44.8 mln loss in 2022; Q4 at SAR 29.7 mln

AYYAN turns to SAR 44.8 mln loss in 2022; Q4 at SAR 29.7 mln

30/03/2023 Argaam Exclusive

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AYYAN Investment Co. swung to a net loss of SAR 44.8 million in 2022, against a net profit of SAR 4.3 million in 2021. 



Financials (M)

Item 2021 2022 Change‬
Revenues 269.56 266.23 (1.2 %)
Gross Income 64.55 16.83 (73.9 %)
Operating Income (10.12) (57.14) (464.4 %)
Net Income 4.29 (44.77) (1142.6 %)
Average Shares 75.46 80.64 6.9 %
EPS (Riyals) 0.06 (0.56) (1075.6 %)

The losses were attributed to a decline in revenue and not achieving unrealized gains from investments at fair value through profit or loss. AYYAN also reported an increase in the cost of goods sold (COGS), higher COGS as a percentage of sales and increased finance costs. 

 

The company recorded lower realized gains from investments at fair value through profit or loss, and higher Zakat expenses. 



Current Quarter Comparison (M)

Compared With The
Item Q4 2021 Q4 2022 Change‬
Revenues 60.80 56.64 (6.8 %)
Gross Income 6.50 (29.09) (547.8 %)
Operating Income (11.29) (30.30) (168.4 %)
Net Income (7.42) (29.71) (300.2 %)
Average Shares 75.46 80.64 6.9 %
EPS (Riyals) (0.10) (0.37) (274.5 %)

In Q4 2022, net losses widened to SAR 29.7 million, from SAR 7.42 million in the prior-year period.

 

The fourth-quarter losses increased by 77.4% from SAR 16.75 million in the previous quarter.

 

Total shareholders’ equity, after minority interest, decreased to SAR 735.73 million as of Dec. 31, 2022, from SAR 808.65 million a year earlier. 

View more financial results

 


Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Riyal)
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
Q2 2015 47.51 1820.4 % 13.14 2176.6 % 29.26 811.3 % 0.60
Q3 2015 43.30 4157.4 % 10.82 13141.0 % 7.56 159.0 % 0.15
Q4 2015 50.24 1858.1 % 12.67 4989.2 % (0.41) 98.2 % (0.01)
Q1 2016 49.61 421.6 % 12.71 378.4 % (2.79) (158.8 %) (0.06)
Q2 2016 49.61 4.4 % 12.68 (3.4 %) (12.83) (143.8 %) (0.26)
Q3 2016 45.23 4.5 % 13.43 24.1 % (2.88) (138.1 %) (0.06)
Q4 2016 47.48 (5.5 %) 9.52 (24.9 %) (14.17) (3,382.6 %) (0.29)
Q1 2017 50.64 2.1 % 12.56 (1.2 %) 1.00 135.9 % 0.02
Q2 2017 55.45 11.8 % 15.06 18.8 % 1.59 112.4 % 0.03
Q3 2017 49.78 10.1 % 12.73 (5.2 %) (2.11) 26.6 % (0.04)
Q4 2017 53.20 12.0 % 12.54 31.8 % (9.93) 30.0 % (0.20)
Q1 2018 53.02 4.7 % 12.41 (1.2 %) (2.79) (378.1 %) (0.06)
Q2 2018 53.67 (3.2 %) 12.13 (19.5 %) 0.32 (79.6 %) 0.01
Q3 2018 57.55 15.6 % 14.21 11.6 % 1.17 155.4 % 0.02
Q4 2018 61.42 15.5 % 13.99 11.5 % 8.51 185.8 % 0.17
Q1 2019 57.62 8.7 % 14.62 17.9 % 1.42 151.0 % 0.03
Q2 2019 58.62 9.2 % 14.98 23.5 % 1.98 510.8 % 0.04
Q3 2019 60.26 4.7 % 15.68 10.4 % 2.30 96.8 % 0.05
Q4 2019 69.00 12.3 % 24.10 72.3 % (6.88) (180.9 %) (0.14)
Q1 2020 63.33 9.9 % 16.01 9.5 % 15.91 1020.4 % 0.22
Q2 2020 61.42 4.8 % 16.44 9.7 % 3.96 100.1 % 0.05
Q3 2020 65.95 9.4 % 18.98 21.0 % 9.19 299.2 % 0.12
Q4 2020 64.62 (6.3 %) 16.45 (31.8 %) (1.76) 74.4 % (0.02)
Q1 2021 72.53 14.5 % 21.45 34.0 % 7.37 (53.7 %) 0.10
Q2 2021 70.43 14.7 % 20.00 21.7 % 0.62 (84.4 %) 0.01
Q3 2021 65.80 (0.2 %) 16.61 (12.5 %) 3.74 (59.4 %) 0.05
Q4 2021 60.80 (5.9 %) 6.50 (60.5 %) (7.42) (321.0 %) (0.10)
Q1 2022 75.60 4.2 % 19.13 (10.8 %) 13.42 82.1 % 0.17
Q2 2022 65.86 (6.5 %) 12.96 (35.2 %) (11.73) (2004.0 %) (0.15)
Q3 2022 68.13 3.5 % 13.84 (16.6 %) (16.75) (548.4 %) (0.21)
Q4 2022 56.64 (6.8 %) (29.09) (547.8 %) (29.71) (300.2 %) (0.37)
2022 266.23 (1.2 %) 16.83 (73.9 %) (44.77) (1142.6 %) (0.56)

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
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 %
Q2 2015 26.33 % (17.50 %) 69.87 %
Q3 2015 26.11 % (6.83 %) 5.79 %
Q4 2015 26.09 % 4.77 % 8.07 %
Q1 2016 25.88 % 5.37 % 4.76 %
Q2 2016 25.36 % 6.95 % (14.75 %)
Q3 2016 26.45 % 8.29 % (8.05 %)
Q4 2016 25.18 % 4.00 % (8.51 %)
Q1 2017 24.97 % 4.40 % (7.26 %)
Q2 2017 25.44 % 4.43 % (0.68 %)
Q3 2017 24.52 % 4.39 % 0.95 %
Q4 2017 25.30 % 3.92 % (3.32 %)
Q1 2018 24.94 % 2.88 % (5.08 %)
Q2 2018 23.76 % 2.89 % (5.72 %)
Q3 2018 23.59 % 3.08 % (5.16 %)
Q4 2018 23.37 % 3.99 % 3.20 %
Q1 2019 23.86 % 5.12 % 4.96 %
Q2 2019 24.57 % 2.19 % 5.56 %
Q3 2019 24.91 % 5.57 % 5.97 %
Q4 2019 28.26 % 3.64 % (0.48 %)
Q1 2020 28.17 % 3.44 % (0.51 %)
Q2 2020 28.43 % 6.70 % 0.28 %
Q3 2020 29.08 % 4.58 % 1.76 %
Q4 2020 26.58 % 7.00 % 3.80 %
Q1 2021 27.71 % 7.51 % 5.95 %
Q2 2021 28.10 % 6.01 % 4.53 %
Q3 2021 27.25 % 6.12 % 3.64 %
Q4 2021 23.95 % 2.69 % 1.59 %
Q1 2022 22.83 % 2.60 % 3.79 %
Q2 2022 20.59 % 0.66 % (0.75 %)
Q3 2022 19.39 % (7.48 %) (8.32 %)
Q4 2022 6.32 % (13.36 %) (16.82 %)
2022 6.32 % (13.36 %) (16.82 %)


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
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
Q2 2015 49.00 (0.02) 0.86 10.86
Q3 2015 49.00 0.39 0.12 10.59
Q4 2015 49.00 0.84 0.25 10.79
Q1 2016 49.00 0.69 0.19 10.51
Q2 2016 49.00 (0.17) (0.58) 10.24
Q3 2016 49.00 (0.39) (0.32) 10.13
Q4 2016 49.00 (0.67) (0.33) 9.96
Q1 2017 49.00 (0.59) (0.29) 9.95
Q2 2017 49.00 (0.30) (0.03) 9.93
Q3 2017 49.00 (0.28) 0.04 9.95
Q4 2017 49.00 (0.19) (0.14) 9.74
Q1 2018 49.00 (0.27) (0.22) 10.59
Q2 2018 49.00 (0.30) (0.24) 10.65
Q3 2018 49.00 (0.23) (0.23) 10.66
Q4 2018 49.00 0.15 0.15 10.73
Q1 2019 49.00 0.23 0.23 10.69
Q2 2019 49.00 0.27 0.27 10.05
Q3 2019 49.00 0.29 0.29 10.22
Q4 2019 49.00 (0.02) (0.02) 10.55
Q1 2020 73.73 0.18 (0.02) 10.17
Q2 2020 73.73 0.21 0.01 10.23
Q3 2020 73.73 0.30 0.06 10.36
Q4 2020 73.73 0.37 0.13 10.18
Q1 2021 75.46 0.25 0.21 10.28
Q2 2021 75.46 0.20 0.16 10.29
Q3 2021 75.46 0.13 0.13 10.34
Q4 2021 75.46 0.06 0.06 10.03
Q1 2022 80.64 0.13 0.13 10.19
Q2 2022 80.64 (0.02) (0.02) 10.05
Q3 2022 80.64 (0.28) (0.28) 9.84
Q4 2022 80.64 (0.56) (0.56) 9.12

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2013 NEG NEG 2.50
Q2 2013 NEG NEG 2.17
Q3 2013 More than 100 More than 100 2.40
Q4 2013 74.26 58.28 2.27
Q1 2014 68.36 56.11 2.63
Q2 2014 More than 100 83.92 2.70
Q3 2014 NEG 42.36 3.00
Q4 2014 NEG 79.52 2.42
Q1 2015 NEG 99.61 2.36
Q2 2015 NEG 31.40 2.50
Q3 2015 45.16 More than 100 1.67
Q4 2015 24.18 81.85 1.88
Q1 2016 30.94 More than 100 2.02
Q2 2016 NEG NEG 1.91
Q3 2016 NEG NEG 1.63
Q4 2016 NEG NEG 1.93
Q1 2017 NEG NEG 2.49
Q2 2017 NEG NEG 1.99
Q3 2017 NEG More than 100 2.05
Q4 2017 NEG NEG 2.03
Q1 2018 NEG NEG 1.75
Q2 2018 NEG NEG 1.77
Q3 2018 NEG NEG 1.56
Q4 2018 More than 100 More than 100 1.53
Q1 2019 73.53 73.53 1.60
Q2 2019 63.61 63.61 1.69
Q3 2019 59.45 59.45 1.69
Q4 2019 NEG NEG 1.75
Q1 2020 57.88 NEG 1.03
Q2 2020 59.51 More than 100 1.21
Q3 2020 57.68 More than 100 1.67
Q4 2020 58.50 More than 100 2.13
Q1 2021 90.40 More than 100 2.24
Q2 2021 More than 100 More than 100 2.98
Q3 2021 More than 100 More than 100 2.72
Q4 2021 More than 100 More than 100 2.03
Q1 2022 More than 100 More than 100 1.87
Q2 2022 NEG NEG 1.68
Q3 2022 NEG NEG 1.70
Q4 2022 NEG NEG 1.55

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 - -
Q2 2015 44.09 3.43 - -
Q3 2015 41.55 1.75 - -
Q4 2015 47.09 3.15 - -
Q1 2016 46.51 3.10 - -
Q2 2016 45.56 4.04 - -
Q3 2016 43.72 1.51 - -
Q4 2016 44.67 2.81 - -
Q1 2017 47.97 2.67 - -
Q2 2017 50.48 4.98 - -
Q3 2017 46.87 2.91 - -
Q4 2017 50.60 2.59 - -
Q1 2018 50.24 2.78 - -
Q2 2018 48.22 5.45 - -
Q3 2018 54.82 2.73 - -
Q4 2018 57.67 3.75 - -
Q1 2019 53.71 3.91 - -
Q2 2019 54.45 4.17 - -
Q3 2019 56.65 3.62 - -
Q4 2019 64.25 4.75 - -
Q1 2020 58.48 4.85 - -
Q2 2020 57.41 4.01 - -
Q3 2020 62.20 3.74 - -
Q4 2020 60.44 4.18 - -
Q1 2021 67.58 4.95 - -
Q2 2021 66.66 3.77 - -
Q3 2021 62.23 3.57 - -
Q4 2021 56.17 4.63 - -
Q1 2022 70.01 5.59 - -
Q2 2022 61.83 4.03 - -
Q3 2022 63.91 4.22 - -
Q4 2022 51.22 5.42 - -


Financial Ratios
Current
Market Cap (M Riyal) 1,474.10
Enterprise Value (EV) (M) 2,187.36
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 3.33
Return on Average Assets (%) (TTM) (13.69 )
Return on Average Equity (%) (TTM) (39.81 )
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Share Price

AYYAN Investment Co.
18.28
0.18 0.99 %

AYYAN Investment Co. (AYYAN)

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