Dur net profit drops 83% to SAR 1.9 mln in Q1 2021

Dur net profit drops 83% to SAR 1.9 mln in Q1 2021

04/05/2021 Argaam Exclusive

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Dur Hospitality Co. reported a net profit after Zakat and tax of SAR 1.9 million in Q1 2021, a drop of 83% from a profit of SAR 10.9 million in the same period last year.



Current Quarter Comparison (M)

Compared With The
Item Q1 2020 Q1 2021 Change‬
Revenues 139.91 100.18 (28.4 %)
Gross Income 32.71 2.79 (91.5 %)
Operating Income 21.04 (1.79) (108.5 %)
Net Income 10.87 1.88 (82.7 %)
Average Shares 100.00 100.00 -
EPS (Riyals) 0.11 0.02 (82.7 %)

The sharp decline in profit was attributed mainly to lower hospitality revenues, which suffered due to the economic repercussions of COVID-19 pandemic.

The company swung to net profit in Q1 2021, compared to a loss after Zakat and tax of SAR 42 million in Q4 2020.



Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2012 97.25 (22.9 %) 51.19 18.5 % 42.36 11.9 %
Q2 2012 93.61 58.2 % 39.62 (10.1 %) 36.32 (1.1 %)
Q3 2012 103.03 17.1 % 39.33 (10.2 %) 36.45 3.5 %
Q4 2012 111.91 16.9 % 42.49 (18.2 %) 34.88 (13.9 %)
Q1 2013 109.47 12.6 % 42.38 (17.2 %) 38.09 (10.1 %)
Q2 2013 112.45 20.1 % 38.66 (2.4 %) 33.79 (7.0 %)
Q3 2013 101.77 (1.2 %) 31.42 (20.1 %) 28.04 (23.1 %)
Q4 2013 108.76 (2.8 %) 25.92 (39.0 %) 19.35 (44.5 %)
Q1 2014 119.36 9.0 % 45.33 7.0 % 40.97 7.6 %
Q2 2014 116.74 3.8 % 39.19 1.4 % 31.60 (6.5 %)
Q3 2014 123.00 20.9 % 43.94 39.8 % 36.93 31.7 %
Q4 2014 120.44 10.7 % 41.71 60.9 % 25.81 33.4 %
Q1 2015 133.03 11.5 % 50.25 10.8 % 42.48 3.7 %
Q2 2015 127.90 9.6 % 42.43 8.3 % 32.56 3.0 %
Q3 2015 144.19 17.2 % 49.76 13.2 % 40.58 9.9 %
Q4 2015 129.15 7.2 % 37.44 (10.2 %) 25.92 0.4 %
Q1 2016 134.93 1.4 % 42.18 (16.0 %) 32.57 (23.3 %)
Q2 2016 135.22 5.7 % 39.20 (7.6 %) 29.93 (8.1 %)
Q3 2016 119.43 (17.2 %) 36.53 (26.6 %) 29.15 (28.2 %)
Q4 2016 109.64 (15.1 %) 29.19 (22.0 %) 15.77 (39.2 %)
Q1 2017 118.43 (12.2 %) 32.18 (23.7 %) 24.69 (24.2 %)
Q2 2017 130.05 (3.8 %) 38.42 (2.0 %) 29.65 (0.9 %)
Q3 2017 107.61 (9.9 %) 23.78 (34.9 %) 15.90 (45.5 %)
Q4 2017 127.51 16.3 % 36.14 23.8 % 24.89 57.8 %
Q1 2018 115.07 (2.8 %) 28.44 (11.6 %) 19.70 (20.2 %)
Q2 2018 114.98 (11.6 %) 25.35 (34.0 %) 14.94 (49.6 %)
Q3 2018 111.10 3.2 % 26.39 10.9 % 17.70 11.4 %
Q4 2018 112.91 (11.5 %) 27.91 (22.8 %) 17.19 (30.9 %)
Q1 2019 114.50 (0.5 %) 24.19 (14.9 %) 13.53 (31.3 %)
Q2 2019 126.35 9.9 % 17.21 (32.1 %) 6.85 (54.1 %)
Q3 2019 139.16 25.3 % 30.10 14.1 % 22.30 26.0 %
Q4 2019 173.84 54.0 % 47.68 70.8 % 36.05 109.7 %
Q1 2020 139.91 22.2 % 32.71 35.2 % 21.04 55.5 %
Q2 2020 92.95 (26.4 %) 13.17 (23.5 %) 1.63 (76.2 %)
Q3 2020 99.59 (28.4 %) 14.41 (52.1 %) 6.53 (70.7 %)
Q4 2020 109.87 (36.8 %) 0.54 (98.9 %) (23.44) (165.0 %)
Q1 2021 100.18 (28.4 %) 2.79 (91.5 %) (1.79) (108.5 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2012 97.35 164.4 % 0.97 56.17 41.18 0.41
Q2 2012 35.74 0.1 % 0.36 - 35.74 0.36
Q3 2012 35.08 (14.6 %) 0.35 - 35.08 0.35
Q4 2012 30.70 (23.5 %) 0.31 - 30.70 0.31
Q1 2013 42.77 (56.1 %) 0.43 - 42.77 0.43
Q2 2013 36.48 2.1 % 0.36 4.12 32.36 0.32
Q3 2013 26.61 (24.2 %) 0.27 0.00 26.60 0.27
Q4 2013 37.16 21.0 % 0.37 - 37.16 0.37
Q1 2014 45.77 7.0 % 0.46 - 45.77 0.46
Q2 2014 47.04 29.0 % 0.47 14.53 32.51 0.33
Q3 2014 36.62 37.6 % 0.37 - 36.62 0.37
Q4 2014 (25.66) (169.0 %) (0.26) (49.73) 24.08 0.24
Q1 2015 44.96 (1.8 %) 0.45 - 44.96 0.45
Q2 2015 36.63 (22.1 %) 0.37 3.57 33.06 0.33
Q3 2015 40.65 11.0 % 0.41 - 40.65 0.41
Q4 2015 23.42 191.3 % 0.23 (2.41) 25.83 0.26
Q1 2016 31.40 (30.2 %) 0.31 - 31.40 0.31
Q2 2016 29.06 (20.6 %) 0.29 - 29.06 0.29
Q3 2016 29.62 (27.2 %) 0.30 - 29.62 0.30
Q4 2016 21.42 (8.6 %) 0.21 5.70 15.72 0.16
Q1 2017 24.91 (20.7 %) 0.25 - 24.91 0.25
Q2 2017 31.68 9.0 % 0.32 3.09 28.59 0.29
Q3 2017 15.01 (49.3 %) 0.15 - 15.01 0.15
Q4 2017 19.03 (11.1 %) 0.19 - 19.03 0.19
Q1 2018 18.13 (27.2 %) 0.18 - 18.13 0.18
Q2 2018 14.09 (55.5 %) 0.14 - 14.09 0.14
Q3 2018 15.20 1.3 % 0.15 - 15.20 0.15
Q4 2018 10.05 (47.2 %) 0.10 (7.35) 17.40 0.17
Q1 2019 9.48 (47.7 %) 0.09 - 9.48 0.09
Q2 2019 3.87 (72.6 %) 0.04 7.32 (3.46) (0.03)
Q3 2019 15.19 (0.1 %) 0.15 4.10 11.09 0.11
Q4 2019 24.46 143.5 % 0.24 - 24.46 0.24
Q1 2020 10.87 14.6 % 0.11 - 10.87 0.11
Q2 2020 (9.93) (356.9 %) (0.10) - (9.93) (0.10)
Q3 2020 (8.41) (155.4 %) (0.08) - (8.41) (0.08)
Q4 2020 (42.03) (271.8 %) (0.42) - (42.03) (0.42)
Q1 2021 1.88 (82.7 %) 0.02 14.12 (12.25) (0.12)

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2012 56.15 % 52.01 % 44.48 %
Q2 2012 49.80 % 47.30 % 40.41 %
Q3 2012 46.73 % 46.17 % 39.03 %
Q4 2012 42.54 % 44.12 % 35.16 %
Q1 2013 39.19 % 42.68 % 34.52 %
Q2 2013 37.28 % 41.07 % 32.26 %
Q3 2013 35.57 % 39.64 % 30.40 %
Q4 2013 32.00 % 36.64 % 32.12 %
Q1 2014 31.95 % 37.07 % 32.08 %
Q2 2014 31.76 % 36.86 % 31.80 %
Q3 2014 33.00 % 37.46 % 32.50 %
Q4 2014 35.49 % 38.47 % 28.98 %
Q1 2015 35.50 % 37.62 % 28.01 %
Q2 2015 35.36 % 37.25 % 27.50 %
Q3 2015 35.04 % 37.03 % 27.16 %
Q4 2015 33.67 % 37.07 % 27.05 %
Q1 2016 32.05 % 35.50 % 24.42 %
Q2 2016 31.02 % 35.09 % 23.36 %
Q3 2016 29.95 % 34.71 % 22.35 %
Q4 2016 29.47 % 33.06 % 21.19 %
Q1 2017 28.40 % 32.70 % 20.57 %
Q2 2017 28.54 % 32.65 % 20.70 %
Q3 2017 26.53 % 31.02 % 18.09 %
Q4 2017 26.99 % 32.92 % 18.10 %
Q1 2018 26.40 % 32.65 % 16.82 %
Q2 2018 24.44 % 31.05 % 14.24 %
Q3 2018 24.82 % 31.37 % 14.18 %
Q4 2018 23.80 % 30.16 % 14.27 %
Q1 2019 22.90 % 29.39 % 12.39 %
Q2 2019 20.59 % 28.20 % 8.31 %
Q3 2019 20.17 % 28.66 % 7.00 %
Q4 2019 21.52 % 30.89 % 7.51 %
Q1 2020 22.05 % 31.82 % 7.42 %
Q2 2020 22.65 % 33.42 % 6.69 %
Q3 2020 21.33 % 33.62 % 3.36 %
Q4 2020 13.75 % 25.03 % (11.19 %)
Q1 2021 7.68 % 22.65 % (18.04 %)


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2012 100.00 2.14 1.51 18.27
Q2 2012 100.00 2.14 1.51 17.77
Q3 2012 100.00 2.08 1.52 17.56
Q4 2012 100.00 1.99 1.43 17.89
Q1 2013 100.00 1.44 1.44 17.45
Q2 2013 100.00 1.45 1.41 17.83
Q3 2013 100.00 1.37 1.32 17.68
Q4 2013 100.00 1.43 1.39 18.01
Q1 2014 100.00 1.46 1.42 17.75
Q2 2014 100.00 1.57 1.42 18.26
Q3 2014 100.00 1.67 1.52 18.21
Q4 2014 100.00 1.04 1.39 17.79
Q1 2015 100.00 1.03 1.38 18.24
Q2 2015 100.00 0.93 1.39 17.92
Q3 2015 100.00 0.97 1.43 17.74
Q4 2015 100.00 1.46 1.45 17.96
Q1 2016 100.00 1.32 1.31 18.17
Q2 2016 100.00 1.25 1.27 17.78
Q3 2016 100.00 1.14 1.16 17.57
Q4 2016 100.00 1.11 1.06 17.78
Q1 2017 100.00 1.05 0.99 18.03
Q2 2017 100.00 1.08 0.99 17.90
Q3 2017 100.00 0.93 0.84 17.65
Q4 2017 100.00 0.91 0.88 17.88
Q1 2018 100.00 0.84 0.81 17.76
Q2 2018 100.00 0.66 0.66 17.81
Q3 2018 100.00 0.66 0.66 17.71
Q4 2018 100.00 0.57 0.65 17.75
Q1 2019 100.00 0.49 0.56 17.25
Q2 2019 100.00 0.39 0.39 17.04
Q3 2019 100.00 0.39 0.35 17.19
Q4 2019 100.00 0.53 0.42 17.41
Q1 2020 100.00 0.54 0.43 17.52
Q2 2020 100.00 0.41 0.36 16.92
Q3 2020 100.00 0.17 0.17 16.84
Q4 2020 100.00 (0.49) (0.49) 16.39
Q1 2021 100.00 (0.58) (0.73) 16.41

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2012 13.63 19.30 1.60
Q2 2012 13.02 18.43 1.57
Q3 2012 13.16 18.02 1.56
Q4 2012 13.43 18.71 1.49
Q1 2013 19.34 19.34 1.60
Q2 2013 21.79 22.42 1.77
Q3 2013 26.51 27.33 2.05
Q4 2013 24.05 24.77 1.91
Q1 2014 23.97 24.67 1.97
Q2 2014 24.84 27.39 2.13
Q3 2014 24.45 26.79 2.24
Q4 2014 28.13 21.00 1.64
Q1 2015 31.71 23.63 1.79
Q2 2015 42.83 28.58 2.21
Q3 2015 28.82 19.50 1.57
Q4 2015 18.38 18.53 1.49
Q1 2016 17.72 17.88 1.29
Q2 2016 18.95 18.59 1.33
Q3 2016 15.54 15.22 1.00
Q4 2016 21.46 22.62 1.35
Q1 2017 20.81 22.00 1.21
Q2 2017 18.38 20.01 1.10
Q3 2017 21.87 24.15 1.15
Q4 2017 21.06 21.81 1.07
Q1 2018 24.22 25.15 1.14
Q2 2018 30.16 30.16 1.12
Q3 2018 33.11 33.11 1.24
Q4 2018 31.85 28.23 1.03
Q1 2019 41.42 36.00 1.17
Q2 2019 46.53 46.49 1.05
Q3 2019 53.12 59.39 1.19
Q4 2019 44.15 56.28 1.34
Q1 2020 42.62 53.95 1.32
Q2 2020 61.09 67.95 1.47
Q3 2020 More than 100 More than 100 1.85
Q4 2020 NEG NEG 1.75
Q1 2021 NEG NEG 1.89

Business Segments (Million)

Compared With The
Period Hospitality sector Asset management Property management Hotels and recreational centers sector Owned Real estate Services and Employment sector Mutual transactions Others
Q3 2012 - - - 90.88 13.05 5.81 (6.70) -
Q4 2012 - - - 74.05 27.19 15.45 (8.49) -
Q1 2013 - - - 93.64 16.53 4.71 (5.40) -
Q2 2013 - - - 101.71 11.59 4.56 (5.41) -
Q3 2013 - - - 86.96 15.61 4.67 (5.47) -
Q4 2013 - - - 84.05 14.06 10.16 (10.00) 10.48
Q1 2014 - - - 103.79 15.96 6.56 (6.95) -
Q2 2014 - - - 103.60 14.19 5.00 (6.05) -
Q3 2014 - - - 102.14 21.03 7.83 (8.00) -
Q4 2014 - - - 104.08 5.96 6.95 (7.02) 10.47
Q1 2015 - - - 116.47 15.19 6.62 (7.27) 2.02
Q2 2015 - - - 113.58 13.88 7.63 (8.09) 0.91
Q3 2015 - - - 125.40 16.68 9.27 (7.39) 1.19
Q4 2015 - - - 109.30 16.78 6.10 (5.90) 0.24
Q1 2016 117.80 15.43 1.71 - - - - -
Q2 2016 116.78 16.19 2.25 - - - - -
Q3 2016 100.65 17.00 1.78 - - - - -
Q4 2016 89.70 18.05 1.89 - - - - -
Q1 2017 98.68 18.58 1.17 - - - - -
Q2 2017 109.05 19.36 1.64 - - - - -
Q3 2017 84.90 20.31 2.40 - - - - -
Q4 2017 102.49 23.88 1.14 - - - - -
Q1 2018 91.99 21.92 1.17 - - - - -
Q2 2018 89.57 24.28 1.13 - - - - -
Q3 2018 84.27 24.43 2.39 - - - - -
Q4 2018 86.97 25.24 0.70 - - - - -
Q1 2019 87.60 26.07 0.82 - - - - -
Q2 2019 97.59 27.31 1.45 - - - - -
Q3 2019 107.38 28.79 2.98 - - - - -
Q4 2019 143.03 29.43 1.38 - - - - -
Q1 2020 109.18 30.22 0.52 - - - - -
Q2 2020 62.83 29.72 0.39 - - - - -
Q3 2020 69.09 30.13 0.36 - - - - -
Q4 2020 79.93 29.54 0.40 - - - - -
Q1 2021 69.69 30.18 0.31 - - - - -


Financial Ratios
Current
Market Cap (M Riyal) 2,700.00
Enterprise Value (EV) (M) 3,783.73
Shares Outstanding ((M)) 100.00
EPS ( Riyal) (TTM) 0.66
Book Value (BV) ( Riyal) 16.27
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 47.70
P/E (TTM) 40.65
Price/book 1.66
Return on Average Assets (%) (TTM) 1.9
Return on Average Equity (%) (TTM) 4.1
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Share Price

Dur Hospitality Company
27.00
0.20 0.75 %

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