Farm Superstores net profit rises 6% to SAR 110 mln in FY15
20/01/2016
Argaam Exclusive
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Saudi Marketing Company (Farm Superstores) reported a net profit of SAR 110.2 million for fiscal year (FY) 2015, a 5.51 percent increase year-on-year (YoY) due to higher revenue and new branches.
Financials (M)
| Item | 2014 | 2015 | Change |
|---|---|---|---|
| Revenues | 1,740.72 | 1,892.32 | 8.7 % |
| Gross Income | 402.98 | 456.19 | 13.2 % |
| Operating Income | 112.16 | 119.82 | 6.8 % |
| Net Income | 104.48 | 107.15 | 2.6 % |
| Average Shares | 45.00 | 45.00 | - |
| EPS (Riyals) | 2.32 | 2.38 | 2.6 % |
The company posted a net profit of SAR 19.4 million in Q4-2015, a 16.16 percent YoY drop and a 33.08 percent decline compared to the previous quarter attributed to an increase in general and administrative expenses.
Compared With The
Current Quarter Comparison (M)
| Item | Q4 2014 | Q4 2015 | Change |
|---|---|---|---|
| Revenues | 450.89 | 474.32 | 5.2 % |
| Gross Income | 102.85 | 108.13 | 5.1 % |
| Operating Income | 28.00 | 16.62 | (40.7 %) |
| Net Income | 23.11 | 16.28 | (29.5 %) |
| Average Shares | 45.00 | 45.00 | - |
| EPS (Riyals) | 0.51 | 0.36 | (29.5 %) |
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| Q1 2015 | 455.49 | 12.5 % | 104.58 | 12.2 % | 32.61 | 16.0 % |
| Q2 2015 | 513.81 | 8.1 % | 123.00 | 19.1 % | 34.21 | 16.5 % |
| Q3 2015 | 448.70 | 9.5 % | 120.48 | 16.0 % | 36.39 | 36.4 % |
| Q4 2015 | 474.32 | 5.2 % | 108.13 | 5.1 % | 16.62 | (40.7 %) |
| 2015 | 1,892.32 | 8.7 % | 456.19 | 13.2 % | 119.82 | 6.8 % |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS Before XO Items |
|---|---|---|---|---|---|---|
| Q1 2015 | 29.08 | 5.6 % | 0.65 | - | 29.08 | 0.65 |
| Q2 2015 | 32.83 | 12.7 % | 0.73 | - | 32.83 | 0.73 |
| Q3 2015 | 28.95 | 17.2 % | 0.64 | (3.68) | 32.63 | 0.73 |
| Q4 2015 | 16.28 | (29.5 %) | 0.36 | 0.93 | 15.36 | 0.34 |
| 2015 | 107.15 | 2.6 % | 2.38 | (2.75) | 109.89 | 2.44 |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| Q1 2015 | 23.14 % | 8.40 % | 5.92 % |
| Q2 2015 | 23.73 % | 8.60 % | 6.00 % |
| Q3 2015 | 24.13 % | 9.07 % | 6.29 % |
| Q4 2015 | 24.11 % | 8.39 % | 5.81 % |
| 2015 | 24.11 % | 8.39 % | 5.81 % |
Compared With The
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| Q1 2015 | 45.00 | 2.36 | 2.36 | 11.68 |
| Q2 2015 | 45.00 | 2.44 | 2.44 | 11.25 |
| Q3 2015 | 45.00 | 2.53 | 2.61 | 11.89 |
| Q4 2015 | 45.00 | 2.38 | 2.44 | 12.22 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| Q1 2015 | 24.69 | 24.69 | 4.98 |
| Q2 2015 | 24.25 | 24.25 | 5.26 |
| Q3 2015 | 20.03 | 19.40 | 4.27 |
| Q4 2015 | 20.10 | 19.60 | 3.92 |
Analysts Estimates (Million)
| Item | Q4 2015 (e) | Q4 2015 (a) | Change |
|---|---|---|---|
| Average | 28.60 | 16.28 | (43.1 %) |
Estimates vs Actual (Million)
| Item | Q4 2015 (e) | Q4 2015 (a) | Change |
|---|---|---|---|
| Alistithmar Capital | 27.80 | 16.28 | (41.4) % |
| SFC | 28.00 | 16.28 | (41.8) % |
| Albilad Capital | 28.00 | 16.28 | (41.8) % |
| Value Capital | 30.60 | 16.28 | (46.8) % |
| Current | |
| Market Cap (M Riyal) | 1,000.80 |
| Enterprise Value (EV) (M) | 1,571.14 |
| Shares Outstanding ((M)) | 45.00 |
| EPS ( Riyal) (TTM) | 0.52 |
| Book Value (BV) ( Riyal) | 15.14 |
| Par Value ( Riyal) | 10.00 |
| Adjusted P/E (Last12) | 26.24 |
| P/E (TTM) | 42.52 |
| Price/book | 1.47 |
| Return on Average Assets (%) (TTM) | 1.0 |
| Return on Average Equity (%) (TTM) | 3.5 |
Share Price
Saudi Marketing Co. (FARM SUPERSTORES)
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