Tihama turns to loss of SAR 26 mln in FY 2019-2020

17/06/2020 Argaam Exclusive

Tihama Advertising and Public Relations Co. (Tihama) reported a net loss after Zakat and tax of SAR 26 million for the fiscal year ending March 31, 2020 , compared to a net profit of SAR 5.2 million in the same period last year.



Financials (M)

Item 2018 2019 Change‬
Revenues 80.65 96.81 20.0 %
Gross Income 29.45 30.20 2.5 %
Operating Income (11.11) (36.15) (225.5 %)
Net Income 5.17 (25.59) (594.9 %)
Average Shares 17.01 17.01 -
EPS (Riyals) 0.30 (1.51) (594.9 %)


Current Quarter Comparison (M)

Compared With The
Item Q4 2018 Q4 2019 Change‬
Revenues 14.34 24.48 70.7 %
Gross Income 2.92 5.12 75.3 %
Operating Income (8.96) (20.40) (127.8 %)
Net Income 1.67 (12.69) (860.2 %)
Average Shares 17.01 17.01 -
EPS (Riyals) 0.10 (0.75) (860.2 %)

The net loss was attributed to higher operational losses due to the impact of COVID-19 measures, writing off of slow moving and obsolete inventory, as well as loss of advertising site contracts in Riyadh.

 

In addition, other income fell as a result of decline in settlements of advertising rental contracts, a drop in service revenues, and an impairment loss in intangible assets’ value.

 

However, the company reported an increase in profit from associates.

 

Meanwhile, Tihama’s net loss after Zakat and tax widened to SAR 16.3 million in the fourth quarter of 2019, compared to a net profit of SAR 1.67 million in the same period of 2018.

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Share Price

Tihama Advertising and Public Relations Co.
15.34
0.22 1.46 %

Tihama Advertising and Public Relations Co. (TAPRCO)

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Financial Ratios
Current
Market Cap (M Riyal) 613.60
Enterprise Value (EV) (M) 396.89
Shares Outstanding ((M)) 40.00
EPS ( Riyal) (TTM) (1.07)
Book Value (BV) ( Riyal) 5.18
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 2.96
Return on Average Assets (%) (TTM) (9.94 )
Return on Average Equity (%) (TTM) (18.94 )
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Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2010 24.73 (4.5 %) 8.71 27.9 % 0.60 293.9 %
Q2 2010 62.52 142.7 % 12.24 148.9 % 1.50 195.4 %
Q3 2010 43.57 44.3 % 11.56 50.3 % (0.96) 79.0 %
Q4 2010 36.17 0.7 % 15.53 46.4 % (1.38) (840.1 %)
Q1 2011 35.79 44.8 % 6.95 (20.2 %) (6.59) (1193.2 %)
Q2 2011 47.14 (24.6 %) 16.21 32.5 % 4.20 178.9 %
Q3 2011 38.75 (11.1 %) 8.81 (23.8 %) (3.01) (214.2 %)
Q4 2011 35.05 (3.1 %) 17.99 15.8 % 6.48 568.7 %
Q1 2012 24.37 (31.9 %) 8.19 17.8 % (0.40) 93.9 %
Q2 2012 44.18 (6.3 %) 8.86 (45.3 %) (1.21) (128.8 %)
Q3 2012 35.41 (8.6 %) 5.82 (34.0 %) (4.89) (62.5 %)
Q4 2012 33.42 (4.7 %) 4.58 (74.5 %) (9.43) (245.6 %)
Q1 2013 20.10 (17.5 %) (3.05) (137.3 %) (15.45) (3,751.6 %)
Q2 2013 38.27 (13.4 %) 0.04 (99.5 %) (12.07) (897.4 %)
Q3 2013 32.62 (7.9 %) (1.64) (128.2 %) (17.30) (253.7 %)
Q4 2013 21.41 (35.9 %) (3.27) (171.3 %) (13.99) (48.3 %)
Q1 2014 12.95 (35.6 %) (3.83) (25.3 %) (14.60) 5.5 %
Q2 2014 40.57 6.0 % 6.51 15030.2 % (3.08) 74.4 %
Q3 2014 26.65 (18.3 %) (4.86) (195.7 %) (24.54) (41.9 %)
Q4 2014 24.16 12.8 % 10.81 430.9 % (3.23) 76.9 %
Q1 2015 14.28 10.2 % (5.55) (45.0 %) (13.24) 9.3 %
Q2 2015 26.04 (35.8 %) (4.73) (172.7 %) (19.42) (529.5 %)
Q3 2015 38.78 45.5 % 2.29 147.0 % (5.65) 77.0 %
Q4 2015 23.54 (2.6 %) 2.23 (79.3 %) (6.79) (110.0 %)
Q1 2016 13.43 (6.0 %) (4.66) 15.9 % (12.17) 8.1 %
Q2 2016 27.33 4.9 % 3.26 168.9 % (3.71) 80.9 %
Q3 2016 26.11 (32.7 %) (0.81) (135.6 %) (9.15) (62.0 %)
Q4 2016 19.78 (16.0 %) (2.86) (228.2 %) (13.82) (103.7 %)
Q1 2017 13.95 3.9 % 4.22 190.4 % (4.42) 63.7 %
Q2 2017 15.21 (44.4 %) 8.06 147.1 % (4.36) (17.4 %)
Q3 2017 28.77 10.2 % 11.82 1552.5 % 0.12 101.3 %
Q4 2017 13.63 (31.1 %) 6.36 322.2 % (4.90) 64.6 %
Q1 2018 14.00 0.4 % 8.22 94.9 % 0.17 103.8 %
Q2 2018 13.50 (11.2 %) 5.17 (35.8 %) (4.21) 3.4 %
Q3 2018 38.81 34.9 % 13.14 11.2 % 1.88 1483.2 %
Q4 2018 14.34 5.2 % 2.92 (54.1 %) (8.96) (82.9 %)
Q1 2019 14.95 6.8 % 7.00 (14.7 %) (4.45) (2733.7 %)
Q2 2019 40.07 196.8 % 13.94 169.4 % 0.37 108.7 %
Q3 2019 17.32 (55.4 %) 4.14 (68.5 %) (11.66) (719.1 %)
Q4 2019 24.48 70.7 % 5.12 75.3 % (20.40) (127.8 %)
2019 96.81 20.0 % 30.20 2.5 % (36.15) (225.5 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2010 6.81 110.2 % 0.40 - 6.81 0.40
Q2 2010 4.42 8.6 % 0.26 - 4.42 0.26
Q3 2010 8.36 185.5 % 0.49 - 8.36 0.49
Q4 2010 4.08 (58.4 %) 0.24 10.53 (6.45) (0.38)
Q1 2011 (2.67) (139.3 %) (0.16) - (2.67) (0.16)
Q2 2011 8.46 91.2 % 0.50 - 8.46 0.50
Q3 2011 (1.74) (120.8 %) (0.10) - (1.74) (0.10)
Q4 2011 13.09 220.7 % 0.77 6.52 6.58 0.39
Q1 2012 1.65 161.7 % 0.10 - 1.65 0.10
Q2 2012 2.85 (66.3 %) 0.17 - 2.85 0.17
Q3 2012 (2.44) (40.3 %) (0.14) - (2.44) (0.14)
Q4 2012 (1.11) (108.5 %) (0.07) - (1.11) (0.07)
Q1 2013 (13.85) (939.5 %) (0.81) - (13.85) (0.81)
Q2 2013 (11.68) (510.1 %) (0.69) - (11.68) (0.69)
Q3 2013 (15.27) (525.6 %) (0.90) - (15.27) (0.90)
Q4 2013 (11.75) (960.1 %) (0.69) - (11.75) (0.69)
Q1 2014 (14.93) (7.7 %) (0.88) - (14.93) (0.88)
Q2 2014 (3.07) 73.8 % (0.18) - (3.07) (0.18)
Q3 2014 (24.42) (59.9 %) (1.44) - (24.42) (1.44)
Q4 2014 1.27 110.8 % 0.07 - 1.27 0.07
Q1 2015 (11.45) 23.3 % (0.67) - (11.45) (0.67)
Q2 2015 (29.29) (855.6 %) (1.72) (10.94) (18.35) (1.08)
Q3 2015 11.54 147.2 % 0.68 18.00 (6.47) (0.38)
Q4 2015 (9.73) (864.1 %) (0.57) - (9.73) (0.57)
Q1 2016 (10.23) 10.6 % (0.60) - (10.23) (0.60)
Q2 2016 (3.09) 89.5 % (0.18) - (3.09) (0.18)
Q3 2016 (7.60) (165.9 %) (0.45) - (7.60) (0.45)
Q4 2016 (6.99) 28.2 % (0.41) - (6.99) (0.41)
Q1 2017 1.82 117.8 % 0.11 - 1.82 0.11
Q2 2017 2.22 171.8 % 0.13 1.07 1.15 0.07
Q3 2017 0.73 109.5 % 0.04 - 0.73 0.04
Q4 2017 (1.56) 77.7 % (0.09) - (1.56) (0.09)
Q1 2018 1.00 (45.1 %) 0.06 - 1.00 0.06
Q2 2018 0.53 (76.1 %) 0.03 - 0.53 0.03
Q3 2018 1.97 171.8 % 0.12 3.82 (1.85) (0.11)
Q4 2018 1.67 207.1 % 0.10 - 1.67 0.10
Q1 2019 1.18 17.7 % 0.07 7.21 (6.04) (0.36)
Q2 2019 0.63 18.7 % 0.04 1.11 (0.48) (0.03)
Q3 2019 (14.71) (845.6 %) (0.87) (2.53) (12.18) (0.72)
Q4 2019 (12.69) (860.2 %) (0.75) 1.93 (14.62) (0.86)
2019 (25.59) (594.9 %) (1.51) 7.73 (33.32) (1.96)

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2010 27.37 % (4.45 %) 10.88 %
Q2 2010 25.58 % 0.13 % 8.50 %
Q3 2010 25.85 % 1.29 % 14.74 %
Q4 2010 28.76 % 3.34 % 7.88 %
Q1 2011 25.99 % (0.87 %) 2.06 %
Q2 2011 30.89 % (0.61 %) 4.73 %
Q3 2011 30.09 % (0.81 %) (1.52 %)
Q4 2011 31.87 % 4.41 % 6.77 %
Q1 2012 35.23 % 9.88 % 10.28 %
Q2 2012 30.80 % 6.73 % 6.56 %
Q3 2012 29.39 % 9.03 % 6.21 %
Q4 2012 19.98 % 1.89 % 0.69 %
Q1 2013 12.18 % (9.78 %) (10.93 %)
Q2 2013 5.81 % (18.83 %) (22.86 %)
Q3 2013 (0.06 %) (32.70 %) (33.69 %)
Q4 2013 (7.05 %) (44.71 %) (46.75 %)
Q1 2014 (8.26 %) (47.03 %) (50.95 %)
Q2 2014 (2.07 %) (37.46 %) (41.85 %)
Q3 2014 (5.36 %) (46.76 %) (53.32 %)
Q4 2014 8.27 % (35.27 %) (39.43 %)
Q1 2015 6.54 % (32.20 %) (35.65 %)
Q2 2015 (4.75 %) (53.85 %) (58.11 %)
Q3 2015 2.73 % (27.12 %) (33.89 %)
Q4 2015 (5.61 %) (28.92 %) (44.82 %)
Q1 2016 (4.79 %) (29.04 %) (44.00 %)
Q2 2016 3.02 % (14.41 %) (28.64 %)
Q3 2016 0.02 % (21.68 %) (33.91 %)
Q4 2016 (5.86 %) (28.55 %) (32.21 %)
Q1 2017 4.36 % (20.18 %) (18.19 %)
Q2 2017 11.46 % (25.68 %) (15.49 %)
Q3 2017 27.33 % (14.90 %) (4.24 %)
Q4 2017 42.57 % 2.59 % 2.98 %
Q1 2018 48.13 % 12.31 % 1.83 %
Q2 2018 45.17 % 16.74 % 1.00 %
Q3 2018 41.15 % 20.14 % (2.35 %)
Q4 2018 36.52 % 9.55 % 1.68 %
Q1 2019 34.61 % 4.24 % (6.97 %)
Q2 2019 34.21 % 8.06 % (6.19 %)
Q3 2019 32.30 % (4.13 %) (19.65 %)
Q4 2019 31.19 % (13.20 %) (34.41 %)
2019 31.19 % (13.20 %) (34.42 %)


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2010 17.01 0.64 0.75 13.66
Q2 2010 17.01 0.66 0.77 14.03
Q3 2010 17.01 1.73 1.45 14.69
Q4 2010 17.01 1.39 0.77 14.57
Q1 2011 17.01 0.83 0.22 14.59
Q2 2011 17.01 1.07 0.45 13.41
Q3 2011 17.01 0.48 (0.14) 13.31
Q4 2011 17.01 1.01 0.62 13.93
Q1 2012 17.01 1.26 0.88 14.03
Q2 2012 17.01 0.93 0.55 14.20
Q3 2012 17.01 0.89 0.51 14.06
Q4 2012 17.01 0.06 0.06 13.92
Q1 2013 17.01 (0.86) (0.86) 13.11
Q2 2013 17.01 (1.71) (1.71) 12.42
Q3 2013 17.01 (2.46) (2.46) 11.52
Q4 2013 17.01 (3.09) (3.09) 10.78
Q1 2014 17.01 (3.15) (3.15) 9.90
Q2 2014 17.01 (2.65) (2.65) 9.72
Q3 2014 17.01 (3.18) (3.18) 8.29
Q4 2014 17.01 (2.42) (2.42) 8.36
Q1 2015 17.01 (2.22) (2.22) 7.69
Q2 2015 17.01 (3.76) (3.11) 5.97
Q3 2015 17.01 (1.64) (2.06) 6.65
Q4 2015 17.01 (2.29) (2.71) 6.07
Q1 2016 17.01 (2.22) (2.63) 5.44
Q2 2016 17.01 (0.68) (1.74) 4.10
Q3 2016 17.01 (1.80) (1.80) 3.65
Q4 2016 17.01 (1.64) (1.64) 2.96
Q1 2017 17.01 (0.93) (0.93) 3.07
Q2 2017 17.01 (0.62) (0.68) 3.45
Q3 2017 17.01 (0.13) (0.19) 3.50
Q4 2017 17.01 0.19 0.13 3.38
Q1 2018 17.01 0.14 0.08 3.45
Q2 2018 17.01 0.04 0.04 3.48
Q3 2018 17.01 0.11 (0.11) 3.60
Q4 2018 17.01 0.30 0.08 3.73
Q1 2019 17.01 0.31 (0.33) 3.80
Q2 2019 17.01 0.32 (0.39) 3.33
Q3 2019 17.01 (0.66) (1.00) 3.16
Q4 2019 17.01 (1.51) (1.96) 2.10

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2010 99.75 85.75 4.68
Q2 2010 89.02 76.86 4.20
Q3 2010 35.84 42.87 4.22
Q4 2010 55.27 99.52 5.28
Q1 2011 82.98 More than 100 4.75
Q2 2011 99.04 More than 100 7.91
Q3 2011 More than 100 NEG 12.91
Q4 2011 More than 100 More than 100 14.09
Q1 2012 More than 100 More than 100 13.62
Q2 2012 More than 100 More than 100 14.16
Q3 2012 More than 100 More than 100 15.44
Q4 2012 More than 100 More than 100 16.15
Q1 2013 NEG NEG 17.36
Q2 2013 NEG NEG 21.47
Q3 2013 NEG NEG 21.71
Q4 2013 NEG NEG 27.01
Q1 2014 NEG NEG 54.06
Q2 2014 NEG NEG 26.54
Q3 2014 NEG NEG 31.88
Q4 2014 NEG NEG 28.72
Q1 2015 NEG NEG 31.09
Q2 2015 NEG NEG 43.89
Q3 2015 NEG NEG 14.16
Q4 2015 NEG NEG 13.03
Q1 2016 NEG NEG 17.36
Q2 2016 NEG NEG 20.56
Q3 2016 NEG NEG 18.64
Q4 2016 NEG NEG 30.47
Q1 2017 NEG NEG 18.83
Q2 2017 NEG NEG 12.20
Q3 2017 NEG NEG 17.64
Q4 2017 More than 100 More than 100 18.76
Q1 2018 More than 100 More than 100 16.75
Q2 2018 More than 100 More than 100 19.10
Q3 2018 More than 100 NEG 14.85
Q4 2018 More than 100 More than 100 15.84
Q1 2019 More than 100 NEG 14.94
Q2 2019 More than 100 NEG 15.60
Q3 2019 NEG NEG 16.11
Q4 2019 NEG NEG 22.67

Business Segments (Million)

Compared With The
Period Trading & Distribution Services Advertising Sector Library Sector Advertising and distribution sector Public administration & Investments sector
Q1 2010 - - 4.20 20.52 -
Q2 2010 - - 16.66 68.22 0.73
Q3 2010 - - 9.23 35.07 -
Q4 2010 - - 6.55 29.62 -
Q1 2011 - - 8.75 27.05 -
Q2 2011 - - 2.46 44.68 -
Q3 2011 - - 6.34 32.41 -
Q4 2011 - - 7.87 27.18 -
Q1 2012 - - 4.12 20.25 -
Q2 2012 - - 9.20 34.99 -
Q3 2012 - - 5.23 30.18 -
Q4 2012 - - 5.60 27.83 -
Q1 2013 - - 2.19 17.92 -
Q2 2013 - - 9.86 28.41 -
Q3 2013 - - 5.99 26.64 -
Q4 2013 - - 3.44 17.97 -
Q1 2014 - - 3.07 9.88 -
Q2 2014 - - 8.78 31.79 -
Q3 2014 - - 3.35 23.30 -
Q4 2014 - - 2.99 21.17 -
Q1 2015 - - 1.02 13.26 -
Q2 2015 - - 3.80 22.24 -
Q3 2015 - - 1.92 36.86 -
Q4 2015 - - 1.31 22.23 -
Q1 2016 0.09 12.56 0.77 - -
Q2 2016 11.60 14.23 1.50 - -
Q3 2016 11.21 12.88 2.01 - -
Q4 2016 - - 0.42 19.36 -
Q1 2017 0.10 13.42 0.43 - -
Q2 2017 1.22 11.43 2.55 - -
Q3 2017 15.80 10.64 1.82 - -
Q4 2017 2.99 10.40 0.75 - -
Q1 2018 0.12 13.40 0.47 - -
Q2 2018 1.11 11.07 1.32 - -
Q3 2018 26.38 11.50 0.94 - -
Q4 2018 0.16 13.15 1.02 - -
Q1 2019 0.15 14.18 0.61 - -
Q2 2019 26.58 6.50 6.98 - -
Q3 2019 1.30 5.94 10.08 - -
Q4 2019 0.30 16.46 7.72 - -

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