Cenomi Retail profit rises 15% to SAR 94.6 mln in short FY from April to December 2022

Cenomi Retail profit rises 15% to SAR 94.6 mln in short FY from April to December 2022

30/03/2023 Argaam Exclusive

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Fawaz Abdulaziz Alhokair Co. (Cenomi Retail) posted a net profit of SAR 94.6 million for the short fiscal year from April 1 to December 2022, a rise of 15% from SAR 82.6 million a year earlier.



Financials (M)

Item 2021 2022 Change‬
Revenues 5,915.10 5,525.34 (6.6 %)
Gross Income 990.80 845.27 (14.7 %)
Operating Income 321.15 292.90 (8.8 %)
Net Income 44.69 39.39 (11.9 %)
Average Shares 114.77 114.77 -
EPS (Riyals) 0.39 0.34 (11.9 %)

Revenue was relatively unchanged at SAR 4.54 million in 2022, with the international portfolio exhibiting an improvement of 13.4% year-on-year (YoY). Meanwhile, retail revenues from Saudi Arabia declined by 2.2% YoY, and the food and beverages segment recorded a decline of 4.5% YoY.

 

Gross profit fell 12.3% YoY to SAR 709.6 million. Selling, general and administrative expenses decreased 19.7% YoY to SAR 326.2 million. 



Current Quarter Comparison (M)

Compared With The
Item Q4 2021 Q4 2022 Change‬
Average Shares 114.77 114.77 -

Total shareholders’ equity, after minority interest, reached SAR 281.3 million by the end of 2022, compared to SAR 550.1 million a year earlier.

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Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Riyal)
Q1 2013 1,258.32 45.4 % 339.66 51.5 % 165.18 36.6 % 1.44
Q2 2013 1,569.70 13.5 % 452.91 12.0 % 282.09 11.7 % 2.46
Q3 2013 1,297.24 10.6 % 322.90 23.5 % 133.32 20.7 % 1.16
Q4 2013 1,357.14 9.7 % 282.50 17.5 % 190.78 40.4 % 1.66
Q1 2014 1,664.57 32.3 % 441.75 30.1 % 191.27 15.8 % 1.67
Q2 2014 2,071.64 32.0 % 574.47 26.8 % 303.74 7.7 % 2.65
Q3 2014 1,548.51 19.4 % 362.94 12.4 % 106.20 (20.3 %) 0.93
Q4 2014 1,613.95 18.9 % 408.02 44.4 % 201.74 5.7 % 1.76
Q1 2015 1,870.41 12.4 % 512.96 16.1 % 210.80 10.2 % 1.84
Q2 2015 2,102.21 1.5 % 618.82 7.7 % 310.67 2.3 % 2.71
Q3 2015 1,454.96 (6.0 %) 394.62 8.7 % 91.17 (14.1 %) 0.79
Q4 2015 1,515.98 (6.1 %) 239.39 (41.3 %) 3.17 (98.4 %) 0.03
Q1 2016 2,189.93 17.1 % 568.80 10.9 % 223.19 5.9 % 1.94
Q2 2016 1,665.26 (20.8 %) 315.61 (49.0 %) 66.82 (78.5 %) 0.58
Q3 2016 1,430.49 (1.7 %) 311.56 (21.0 %) 49.26 (46.0 %) 0.43
Q4 2016 1,405.98 (7.3 %) 321.10 34.1 % 86.09 2620.1 % 0.75
Q1 2017 2,069.94 (5.5 %) 550.46 (3.2 %) 232.41 4.1 % 2.03
Q2 2017 1,503.55 (9.7 %) 300.12 (4.9 %) 6.84 (89.8 %) 0.06
Q3 2017 1,349.77 (5.6 %) 318.71 2.3 % 48.69 (1.2 %) 0.42
Q4 2017 1,193.26 (15.1 %) 45.34 (85.9 %) (184.45) (314.3 %) (1.61)
Q1 2018 1,845.73 (10.8 %) 523.34 (4.9 %) 249.19 7.2 % 2.17
Q2 2018 1,273.97 (15.3 %) 249.91 (16.7 %) 10.03 46.6 % 0.09
Q3 2018 1,233.53 (8.6 %) 276.69 (13.2 %) 26.53 (45.5 %) 0.23
Q4 2018 1,072.57 (10.1 %) 34.57 (23.8 %) (141.00) 23.6 % (1.23)
Q1 2019 1,732.40 (6.1 %) 507.52 (3.0 %) 224.05 (10.1 %) 1.95
Q2 2019 1,234.59 (3.1 %) 183.28 (26.7 %) (27.22) (371.4 %) (0.24)
Q3 2019 1,289.78 4.6 % 258.24 (6.7 %) 34.47 30.0 % 0.30
Q4 2019 1,085.03 1.2 % 46.84 35.5 % (887.56) (529.5 %) (7.73)
Q1 2020 564.95 (67.4 %) (136.73) (126.9 %) (525.43) (334.5 %) (4.58)
Q2 2020 1,185.60 (4.0 %) 143.36 (21.8 %) (98.79) (263.0 %) (0.86)
Q3 2020 1,349.71 4.6 % 281.45 9.0 % (128.56) (472.9 %) (1.12)
Q4 2020 1,132.26 4.4 % (270.38) (677.3 %) (337.87) 61.9 % (2.94)
Q1 2021 1,700.71 201.0 % 332.60 343.3 % 46.88 108.9 % 0.41
Q2 2021 1,361.28 14.8 % 232.34 62.1 % 21.73 122.0 % 0.19
Q3 2021 1,466.39 8.6 % 244.53 (13.1 %) 16.87 113.1 % 0.15
Q4 2021 - - - - - - -
Q1 2022 1,386.73 (18.5 %) 181.32 (45.5 %) (40.79) (187.0 %) (0.36)
Q2 2022 1,705.64 25.3 % 240.07 3.3 % 42.82 97.1 % 0.37
Q3 2022 1,372.88 (6.4 %) 182.23 (25.5 %) 19.83 17.6 % 0.17
Q4 2022 1,060.10 - 241.64 - 17.52 - 0.15
2022 5,525.34 (6.6 %) 845.27 (14.7 %) 39.39 (11.9 %) 0.34

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2013 24.66 % 16.64 % 13.14 %
Q2 2013 24.71 % 16.58 % 13.24 %
Q3 2013 25.28 % 16.90 % 13.36 %
Q4 2013 25.50 % 17.25 % 14.07 %
Q1 2014 25.47 % 17.04 % 13.54 %
Q2 2014 25.38 % 16.13 % 12.82 %
Q3 2014 25.02 % 15.50 % 11.92 %
Q4 2014 25.91 % 16.45 % 11.64 %
Q1 2015 26.16 % 16.89 % 11.85 %
Q2 2015 26.67 % 18.17 % 12.32 %
Q3 2015 27.47 % 18.99 % 12.75 %
Q4 2015 25.43 % 17.09 % 10.85 %
Q1 2016 25.08 % 17.13 % 11.07 %
Q2 2016 22.24 % 14.15 % 7.76 %
Q3 2016 21.10 % 13.08 % 6.68 %
Q4 2016 22.67 % 13.51 % 7.22 %
Q1 2017 22.81 % 13.40 % 6.61 %
Q2 2017 23.14 % 13.41 % 6.48 %
Q3 2017 23.55 % 13.55 % 6.56 %
Q4 2017 19.86 % 10.13 % 2.36 %
Q1 2018 20.15 % 10.52 % 2.74 %
Q2 2018 20.08 % 10.35 % 2.18 %
Q3 2018 19.75 % 10.08 % 1.35 %
Q4 2018 19.99 % 11.53 % 2.21 %
Q1 2019 20.12 % 15.28 % 1.89 %
Q2 2019 19.00 % 18.25 % 1.25 %
Q3 2019 18.46 % 21.50 % (0.75 %)
Q4 2019 18.64 % 22.90 % (3.91 %)
Q1 2020 8.42 % 13.91 % (21.08 %)
Q2 2020 7.56 % 11.77 % (23.95 %)
Q3 2020 8.00 % 11.49 % (21.57 %)
Q4 2020 0.42 % 4.01 % (18.21 %)
Q1 2021 9.07 % 10.69 % (5.35 %)
Q2 2021 10.39 % 11.76 % (2.91 %)
Q3 2021 9.52 % 10.11 % (2.28 %)
Q4 2021 - - -
Q1 2022 - - -
Q2 2022 - - -
Q3 2022 - - -
Q4 2022 15.30 % 17.31 % 1.56 %
2022 15.30 % 17.31 % 1.56 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2013 114.77 5.79 5.79 17.23
Q2 2013 114.77 6.04 6.04 19.68
Q3 2013 114.77 6.24 6.24 19.47
Q4 2013 114.77 6.72 6.72 21.14
Q1 2014 114.77 6.95 6.95 20.06
Q2 2014 114.77 7.14 7.14 22.70
Q3 2014 114.77 6.90 6.90 21.34
Q4 2014 114.77 7.00 7.00 20.91
Q1 2015 114.77 7.17 7.33 20.84
Q2 2015 114.77 7.23 7.66 22.71
Q3 2015 114.77 7.10 7.82 22.66
Q4 2015 114.77 5.37 6.57 22.73
Q1 2016 114.77 5.47 7.01 23.45
Q2 2016 114.77 3.35 4.62 23.76
Q3 2016 114.77 2.98 3.96 22.86
Q4 2016 114.77 3.71 4.21 18.41
Q1 2017 114.77 3.79 3.79 25.99
Q2 2017 114.77 3.26 3.62 25.84
Q3 2017 114.77 3.26 3.62 26.00
Q4 2017 114.77 0.90 1.26 19.59
Q1 2018 114.77 1.05 1.41 21.71
Q2 2018 114.77 1.08 1.08 21.81
Q3 2018 114.77 0.88 0.65 22.01
Q4 2018 114.77 1.26 1.04 21.59
Q1 2019 114.77 1.04 0.88 23.52
Q2 2019 114.77 0.72 0.58 22.93
Q3 2019 114.77 0.79 (0.35) 23.25
Q4 2019 114.77 (5.72) (1.82) 14.07
Q1 2020 114.77 (12.25) (7.67) 9.81
Q2 2020 114.77 (12.87) (8.61) 8.74
Q3 2020 114.77 (14.29) (7.87) 7.63
Q4 2020 114.77 (9.50) (6.72) 4.81
Q1 2021 114.77 (4.52) (2.50) 5.31
Q2 2021 114.77 (3.47) (1.40) 5.52
Q3 2021 114.77 (2.20) (1.13) 5.69
Q4 2021 114.77 - - 2.71
Q1 2022 114.77 - - 2.71
Q2 2022 114.77 - - 5.89
Q3 2022 114.77 - - 3.51
Q4 2022 114.77 0.34 0.75 3.82

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2013 13.05 13.05 4.38
Q2 2013 15.85 15.85 4.87
Q3 2013 19.79 19.79 6.34
Q4 2013 18.92 18.92 6.02
Q1 2014 23.70 23.70 8.21
Q2 2014 24.43 24.43 7.68
Q3 2014 33.28 33.28 10.76
Q4 2014 25.89 25.89 8.66
Q1 2015 24.68 24.12 8.49
Q2 2015 24.81 23.41 7.90
Q3 2015 16.90 15.33 5.29
Q4 2015 24.10 19.69 5.69
Q1 2016 13.92 10.87 3.25
Q2 2016 24.42 17.71 3.44
Q3 2016 20.62 15.53 2.69
Q4 2016 18.17 16.01 3.66
Q1 2017 15.54 15.54 2.26
Q2 2017 23.59 21.26 2.98
Q3 2017 24.22 21.83 3.04
Q4 2017 61.70 44.17 2.84
Q1 2018 46.73 34.83 2.26
Q2 2018 44.06 44.06 2.17
Q3 2018 48.47 65.43 1.94
Q4 2018 31.92 38.60 1.87
Q1 2019 43.09 51.27 1.91
Q2 2019 58.40 72.72 1.83
Q3 2019 60.01 NEG 2.03
Q4 2019 NEG NEG 3.33
Q1 2020 NEG NEG 3.27
Q2 2020 NEG NEG 3.96
Q3 2020 NEG NEG 5.56
Q4 2020 NEG NEG 8.30
Q1 2021 NEG NEG 7.76
Q2 2021 NEG NEG 8.33
Q3 2021 NEG NEG 6.69
Q4 2021 - - 10.50
Q1 2022 - - 10.05
Q2 2022 - - 3.53
Q3 2022 - - 5.30
Q4 2022 45.12 20.59 4.06

Business Segments (Million)

Compared With The
Period Fashion Retail Indoor Entertainment Food and Beverages
Q1 2016 2,174.25 15.68 -
Q2 2016 1,654.59 10.67 -
Q1 2017 2,051.25 18.69 -
Q2 2017 1,487.68 15.87 -
Q3 2017 1,349.77 - -
Q4 2017 1,146.74 46.52 -
Q1 2018 1,826.98 18.75 -
Q2 2018 1,254.22 19.75 -
Q3 2018 1,213.86 19.67 -
Q4 2018 1,108.20 (35.63) -
Q1 2019 1,714.68 17.71 -
Q2 2019 1,217.02 17.57 -
Q3 2019 1,270.18 19.60 -
Q4 2019 1,012.92 19.35 52.76
Q1 2020 545.73 0.07 19.14
Q2 2020 1,078.98 0.75 105.88
Q3 2020 1,228.32 2.02 119.36
Q4 2020 1,033.78 2.39 96.09
Q1 2021 1,583.17 9.94 107.10
Q2 2021 1,218.62 12.89 130.27
Q3 2021 1,322.93 12.58 130.87
Q1 2022 1,240.75 16.42 129.56
Q2 2022 1,574.76 15.25 115.64
Q3 2022 1,220.42 15.25 137.20
Q4 2022 944.33 16.81 98.96


Financial Ratios
Current
Market Cap (M Riyal) 919.55
Enterprise Value (EV) (M) 3,068.53
Shares Outstanding ((M)) 114.80
EPS ( Riyal) (TTM) (11.10)
Book Value (BV) ( Riyal) (8.53)
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book (0.94)
Return on Average Assets (%) (TTM) (20.76 )
Return on Average Equity (%) (TTM) -
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Share Price

Fawaz Abdulaziz Alhokair Co.
8.00
(0.04) (0.50 %)

Fawaz Abdulaziz Alhokair Co. (CENOMI RETAIL)

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