Al-Baha Investment turns to profit of SAR 1 mln in 9M 2020

Al-Baha Investment turns to profit of SAR 1 mln in 9M 2020

10/11/2020 Argaam Exclusive

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Al-Baha Investment and Development Co. turned to a net profit after Zakat and tax of SAR 1 million for the first nine months of 2020, from a net loss of SAR 211,000 in the same period last year.

 

The company attributed the net profit to higher revenue, lower general & administrative expenses and Zakat expenses.



Financials (M)

Item 9m 2019 9m 2020 Change‬
Revenues 7.70 8.27 7.4 %
Gross Income 4.46 5.05 13.2 %
Operating Income 2.01 2.74 36.8 %
Net Income (0.47) 0.69 245.7 %
Average Shares 2,964.00 2,964.00 -
EPS (Halala) (0.02) 0.02 245.7 %

The company’s net profit for Q3 2020 fell 16% to SAR 178,000 on lower revenues due to reduction in rents for some tenants and higher general and administrative expenses.

 

On sequential basis, net profit in Q3 fell 60.5% compared to Q2 2020.



Current Quarter Comparison (M)

Compared With The
Item Q3 2019 Q3 2020 Change‬
Revenues 2.84 2.62 (7.9 %)
Gross Income 1.73 1.51 (12.3 %)
Operating Income 0.85 0.68 (19.1 %)
Net Income 0.13 0.11 (16.7 %)
Average Shares 2,964.00 2,964.00 -
EPS (Halala) 0.00 0.00 (16.7 %)


Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Halala)
Q1 2011 - - - - (1.86) 50.7 % (0.07)
Q2 2011 - - - - (1.60) (7.9 %) (0.06)
Q3 2011 0.16 3.2 % (1.08) (33.6 %) (3.96) (307.3 %) (0.16)
Q4 2011 - - (0.29) 5.8 % 1.67 931.8 % 0.07
Q1 2012 - - - - (1.18) 36.5 % (0.05)
Q2 2012 - - - - (1.46) 8.9 % (0.06)
Q3 2012 0.11 (34.8 %) (0.82) 24.5 % (1.54) 61.2 % (0.06)
Q4 2012 - - (0.31) (6.1 %) (1.29) (177.2 %) (0.05)
Q1 2013 - - - - (69.94) (5,832.2 %) (2.78)
Q2 2013 - - - - (1.07) 26.8 % (0.04)
Q3 2013 - - (0.24) 71.0 % (1.42) 7.3 % (0.06)
Q4 2013 - - - - (5.85) (353.2 %) (0.23)
Q1 2014 - - - - (1.11) 98.4 % (0.04)
Q2 2014 - - - - (1.16) (8.9 %) (0.05)
Q3 2014 - - - - (0.95) 33.4 % (0.04)
Q4 2014 - - - - (0.88) 84.9 % (0.04)
Q1 2015 0.41 - 0.15 - 0.04 103.4 % 0.00
Q2 2015 0.62 - 0.13 - 0.01 100.6 % 0.00
Q3 2015 1.63 - 0.10 - 0.01 100.5 % 0.00
Q4 2015 2.86 - 0.23 - 0.02 101.9 % 0.00
Q1 2016 1.68 308.5 % 0.13 (17.8 %) 0.01 (76.3 %) 0.00
Q2 2016 1.51 143.9 % 0.14 7.0 % 0.01 (14.3 %) 0.00
Q3 2016 2.88 77.1 % 0.18 81.4 % 0.01 20.0 % 0.00
Q4 2016 2.81 (2.0 %) 0.17 (26.0 %) (0.15) (994.1 %) (0.01)
Q1 2017 2.21 31.4 % 0.15 17.6 % 0.01 (33.3 %) 0.00
Q2 2017 0.57 (62.1 %) 0.57 314.5 % (0.33) (5550.0 %) (0.01)
Q3 2017 0.36 (87.6 %) 0.36 103.4 % (0.26) (4416.7 %) (0.01)
Q4 2017 4.23 50.8 % 1.61 843.9 % 4.57 3105.3 % 0.16
Q1 2018 3.01 36.2 % 1.39 845.6 % 0.61 10000.0 % 0.02
Q2 2018 2.87 401.9 % 1.56 173.4 % (12.19) (3,627.8 %) (0.41)
Q3 2018 2.29 540.8 % 1.04 190.5 % 0.28 206.6 % 0.01
Q4 2018 1.50 (64.5 %) 0.80 (50.3 %) (0.02) (100.4 %) 0.00
Q1 2019 2.40 (20.3 %) 1.33 (4.5 %) (0.69) (213.4 %) (0.02)
Q2 2019 2.45 (14.6 %) 1.40 (10.4 %) 0.09 100.7 % 0.00
Q3 2019 2.84 23.9 % 1.73 66.0 % 0.13 (54.3 %) 0.00
Q4 2019 2.74 82.4 % 1.22 52.6 % (4.86) (26,877.8 %) (0.16)
Q1 2020 2.76 14.8 % 1.67 25.8 % 0.27 139.4 % 0.01
Q2 2020 2.89 17.9 % 1.86 32.8 % 0.31 238.5 % 0.01
Q3 2020 2.62 (7.9 %) 1.51 (12.3 %) 0.11 (16.7 %) 0.00

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2011 (718.59 %) (2630.13 %) (2892.95 %)
Q2 2011 (718.59 %) (2837.18 %) (2967.95 %)
Q3 2011 (865.22 %) (4380.75 %) (4729.19 %)
Q4 2011 (854.04 %) (3952.80 %) (3565.84 %)
Q1 2012 (854.04 %) (3526.71 %) (3144.10 %)
Q2 2012 (854.04 %) (3447.20 %) (3055.28 %)
Q3 2012 (1057.14 %) (2997.14 %) (2380.00 %)
Q4 2012 (1074.29 %) (2841.90 %) (5201.90 %)
Q1 2013 (1074.29 %) (2924.76 %) (5261.90 %)
Q2 2013 (1074.29 %) (2573.33 %) (4889.52 %)
Q3 2013 - - -
Q4 2013 - - -
Q1 2014 - - -
Q2 2014 - - -
Q3 2014 - - -
Q4 2014 - - -
Q1 2015 36.89 % (312.14 %) (717.23 %)
Q2 2015 27.26 % (62.37 %) (173.33 %)
Q3 2015 14.22 % (11.62 %) (31.37 %)
Q4 2015 11.03 % 1.25 % 1.21 %
Q1 2016 8.57 % 0.59 % 0.56 %
Q2 2016 7.69 % 0.51 % 0.48 %
Q3 2016 7.50 % 0.45 % 0.43 %
Q4 2016 6.87 % (1.46 %) (1.48 %)
Q1 2017 6.72 % (1.41 %) (1.42 %)
Q2 2017 12.58 % 0.32 % 19.45 %
Q3 2017 20.99 % 3.30 % 23.26 %
Q4 2017 36.50 % 11.73 % 54.10 %
Q1 2018 48.13 % 22.42 % 56.14 %
Q2 2018 47.04 % 26.27 % 27.71 %
Q3 2018 45.20 % 25.64 % 27.70 %
Q4 2018 49.55 % 32.34 % 9.98 %
Q1 2019 52.20 % 43.69 % (3.61 %)
Q2 2019 52.84 % 54.86 % (3.91 %)
Q3 2019 57.15 % 68.57 % (5.31 %)
Q4 2019 54.42 % 70.70 % (16.03 %)
Q1 2020 55.80 % 70.86 % (6.63 %)
Q2 2020 57.71 % 71.52 % (4.43 %)
Q3 2020 56.97 % 69.81 % (4.72 %)


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Halala) Adjusted EPS (Halala) Book Value (BV)
Q1 2011 2,511.87 (0.18) (0.18) 0.04
Q2 2011 2,511.87 (0.18) (0.18) 0.04
Q3 2011 2,511.87 (0.30) (0.30) 0.03
Q4 2011 2,511.87 (0.23) (0.23) 0.04
Q1 2012 2,511.87 (0.20) (0.20) 0.03
Q2 2012 2,511.87 (0.20) (0.20) 0.03
Q3 2012 2,511.87 (0.10) (0.10) 0.03
Q4 2012 2,511.87 (0.22) (0.22) 0.03
Q1 2013 2,511.87 (2.95) (0.22) 0.01
Q2 2013 2,511.87 (2.94) (0.20) 0.01
Q3 2013 2,511.87 (2.93) (0.20) 0.01
Q4 2013 2,511.87 (3.12) (0.38) 0.00
Q1 2014 2,511.87 (0.38) (0.38) 0.00
Q2 2014 2,511.87 (0.38) (0.38) 0.00
Q3 2014 2,511.87 (0.36) (0.36) 0.00
Q4 2014 2,511.87 (0.16) (0.16) 0.00
Q1 2015 2,511.87 (0.12) (0.12) 0.00
Q2 2015 2,511.87 (0.07) (0.07) 0.00
Q3 2015 2,511.87 (0.03) (0.03) 0.00
Q4 2015 2,511.87 0.00 0.00 0.00
Q1 2016 2,511.87 0.00 0.00 0.00
Q2 2016 2,511.87 0.00 0.00 0.00
Q3 2016 2,511.87 0.00 0.00 0.00
Q4 2016 2,511.87 (0.01) (0.01) 0.00
Q1 2017 2,850.97 0.00 0.00 0.00
Q2 2017 2,850.97 (0.02) 0.06 0.05
Q3 2017 2,850.97 (0.03) 0.05 0.05
Q4 2017 2,850.97 0.14 0.14 0.05
Q1 2018 2,964.00 0.15 0.15 0.05
Q2 2018 2,964.00 (0.25) 0.10 0.05
Q3 2018 2,964.00 (0.23) 0.12 0.05
Q4 2018 2,964.00 (0.38) 0.03 0.05
Q1 2019 2,964.00 (0.43) (0.01) 0.05
Q2 2019 2,964.00 (0.01) (0.01) 0.05
Q3 2019 2,964.00 (0.02) (0.02) 0.05
Q4 2019 2,964.00 (0.18) (0.06) 0.05
Q1 2020 2,964.00 (0.15) (0.02) 0.05
Q2 2020 2,964.00 (0.14) (0.02) 0.05
Q3 2020 2,964.00 (0.14) (0.02) 0.05

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2011 NEG NEG 5.18
Q2 2011 NEG NEG 5.76
Q3 2011 NEG NEG 7.51
Q4 2011 NEG NEG 6.98
Q1 2012 NEG NEG 9.81
Q2 2012 NEG NEG 6.79
Q3 2012 NEG NEG 7.83
Q4 2012 NEG NEG 7.59
Q1 2013 NEG NEG 29.31
Q2 2013 NEG NEG 31.24
Q3 2013 NEG NEG 34.46
Q4 2013 NEG NEG 59.94
Q1 2014 NEG NEG 69.68
Q2 2014 NEG NEG 83.89
Q3 2014 NEG NEG 100.72
Q4 2014 NEG NEG 123.46
Q1 2015 NEG NEG 122.26
Q2 2015 NEG NEG 122.10
Q3 2015 NEG NEG 121.88
Q4 2015 More than 100 More than 100 121.32
Q1 2016 More than 100 More than 100 121.05
Q2 2016 More than 100 More than 100 120.86
Q3 2016 More than 100 More than 100 120.68
Q4 2016 NEG NEG 120.47
Q1 2017 NEG NEG 120.28
Q2 2017 NEG More than 100 2.71
Q3 2017 NEG More than 100 4.08
Q4 2017 More than 100 More than 100 3.31
Q1 2018 98.46 98.46 2.94
Q2 2018 NEG More than 100 3.07
Q3 2018 NEG 92.98 2.26
Q4 2018 NEG More than 100 3.56
Q1 2019 NEG NEG 3.22
Q2 2019 NEG NEG 2.98
Q3 2019 NEG NEG 2.50
Q4 2019 NEG NEG 2.69
Q1 2020 NEG NEG 2.10
Q2 2020 NEG NEG 2.20
Q3 2020 NEG NEG 5.42

Business Segments (Million)

Compared With The
Period Rents
Q1 2019 2.40
Q2 2019 2.45
Q3 2019 2.84
Q4 2019 2.74
Q1 2020 2.76
Q2 2020 2.89
Q3 2020 2.62


Financial Ratios
Current
Market Cap (M Riyal) 356.40
Enterprise Value (EV) (M) 364.20
Shares Outstanding ((M)) 2,970.00
EPS (Halala) (TTM) 0.10
Book Value (BV) ( Riyal) 0.07
Par Value ( Halala) 10.00
Adjusted P/E (Last12) More than 100
P/E (TTM) More than 100
Price/book 1.66
Return on Average Assets (%) (TTM) 1.0
Return on Average Equity (%) (TTM) 1.4
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Share Price

Al-Baha Investment and Development Co.
0.12
0.00 0.00 %

Al-Baha Investment and Development Co. (ALBAHA)

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