Tihama cuts net losses by 22% to SAR 41 mln at the end of March 2015

Tihama cuts net losses by 22% to SAR 41 mln at the end of March 2015

21/04/2015 Argaam Exclusive

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Tihama Advertising and Public Relations Co., which operates Tihama bookstores in Saudi Arabia, reported a net loss of SAR 41.1 million at the end of March 2015, 22% lower compared to the same period in 2014.



Financials (M)

Item 2013 2014 Change‬
Revenues 112.41 104.33 (7.2 %)
Gross Income (7.92) 8.63 209.0 %
Operating Income (58.79) (45.46) 22.7 %
Net Income (52.56) (41.14) 21.7 %
Average Shares 17.01 17.01 -
EPS (Riyals) (3.09) (2.42) 21.7 %

 

The year-on-year loss decrease was mainly attributed to a drop of nearly SAR 17 million in revenue costs and lower net losses from billboards of SAR 4.5 million. In addition, the company cut Zakat provisions by SAR 3 million. It also had lower profit shares of SAR 3 million from its units.  
When compared to Q4-2014, the company’s net profit was fueled by a SAR 17 million decrease in revenue costs, higher profit share of SAR 1.3 million in subsidiaries, and lower Zakat provision of SAR 1 million. in Q4, the company reported SAR 24.4 million in losses.


Current Quarter Comparison (M)

Compared With The
Item Q4 2013 Q4 2014 Change‬
Revenues 21.41 24.16 12.8 %
Gross Income (3.27) 10.81 430.9 %
Operating Income (13.99) (3.23) 76.9 %
Net Income (11.75) 1.27 110.8 %
Average Shares 17.01 17.01 -
EPS (Riyals) (0.69) 0.07 110.8 %


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2005 26.41 (26.3 %) 6.97 26.0 % 0.14 106.9 %
Q2 2005 38.52 (15.5 %) 11.27 3.6 % 3.16 0.0 %
Q3 2005 28.23 (19.9 %) 8.15 101.2 % 0.73 178.5 %
Q4 2005 24.24 13.8 % 4.75 (48.6 %) (7.25) (106.6 %)
Q1 2006 25.84 (2.1 %) 7.66 9.9 % (0.88) (725.0 %)
Q2 2006 35.66 (7.4 %) 11.28 0.1 % 4.14 30.9 %
Q3 2006 34.41 21.9 % 11.85 45.4 % 0.90 23.0 %
Q4 2006 23.91 (1.3 %) 8.07 69.9 % (1.72) 76.3 %
Q1 2007 26.97 4.4 % 9.02 17.7 % 1.54 275.4 %
Q2 2007 39.45 10.6 % 11.97 6.1 % 4.42 6.9 %
Q3 2007 36.26 5.4 % 10.24 (13.6 %) 0.96 7.0 %
Q4 2007 34.04 42.3 % 14.50 79.7 % 5.33 410.5 %
Q1 2008 32.01 18.7 % 9.03 0.1 % 2.02 31.7 %
Q2 2008 33.86 (14.2 %) 10.59 (11.6 %) 1.76 (60.2 %)
Q3 2008 44.24 22.0 % 15.28 49.2 % 4.43 360.6 %
Q4 2008 31.68 (6.9 %) 10.73 (26.0 %) 2.95 (44.6 %)
Q1 2009 25.88 (19.1 %) 6.81 (24.6 %) (0.31) (115.4 %)
Q2 2009 25.76 (23.9 %) 4.92 (53.5 %) (1.58) (189.7 %)
Q3 2009 30.19 (31.7 %) 7.69 (49.7 %) (4.56) (202.9 %)
Q4 2009 35.93 13.4 % 10.60 (1.1 %) (0.15) (105.0 %)
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 %
2014 104.33 (7.2 %) 8.63 209.0 % (45.46) 22.7 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2005 3.74 78.9 % 0.22 - 3.74 0.22
Q2 2005 3.56 (3.8 %) 0.21 - 3.56 0.21
Q3 2005 2.11 56.3 % 0.12 - 2.11 0.12
Q4 2005 2.92 14.1 % 0.17 - 2.92 0.17
Q1 2006 4.11 9.9 % 0.24 - 4.11 0.24
Q2 2006 4.32 21.3 % 0.25 - 4.32 0.25
Q3 2006 4.72 123.6 % 0.28 - 4.72 0.28
Q4 2006 5.92 102.6 % 0.35 - 5.92 0.35
Q1 2007 4.76 15.8 % 0.28 - 4.76 0.28
Q2 2007 6.27 45.1 % 0.37 - 6.27 0.37
Q3 2007 7.46 58.0 % 0.44 - 7.46 0.44
Q4 2007 9.53 61.1 % 0.56 - 9.53 0.56
Q1 2008 5.86 23.1 % 0.34 - 5.86 0.34
Q2 2008 8.50 35.7 % 0.50 - 8.50 0.50
Q3 2008 7.82 4.8 % 0.46 - 7.82 0.46
Q4 2008 7.95 (16.6 %) 0.47 - 7.95 0.47
Q1 2009 3.24 (44.7 %) 0.19 - 3.24 0.19
Q2 2009 4.07 (52.1 %) 0.24 - 4.07 0.24
Q3 2009 (9.78) (225.2 %) (0.58) (6.60) (3.18) (0.19)
Q4 2009 9.80 23.4 % 0.58 4.82 4.98 0.29
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
2014 (41.14) 21.7 % (2.42) - (41.14) (2.42)

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2005 24.23 % 14.35 % 8.83 %
Q2 2005 25.95 % 15.08 % 9.23 %
Q3 2005 31.13 % 17.14 % 10.46 %
Q4 2005 26.52 % 12.62 % 10.50 %
Q1 2006 27.25 % 11.74 % 10.87 %
Q2 2006 27.94 % 11.36 % 11.81 %
Q3 2006 29.58 % 7.52 % 13.37 %
Q4 2006 32.43 % 7.57 % 15.91 %
Q1 2007 33.25 % 9.52 % 16.30 %
Q2 2007 32.80 % 10.11 % 17.36 %
Q3 2007 31.04 % 10.15 % 19.27 %
Q4 2007 33.45 % 14.35 % 20.49 %
Q1 2008 32.26 % 14.13 % 20.54 %
Q2 2008 32.57 % 11.86 % 23.02 %
Q3 2008 34.26 % 13.41 % 22.00 %
Q4 2008 32.17 % 11.97 % 21.24 %
Q1 2009 31.99 % 10.77 % 20.27 %
Q2 2009 29.58 % 8.66 % 18.09 %
Q3 2009 26.56 % 1.98 % 10.64 %
Q4 2009 25.49 % (5.12 %) 7.74 %
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 %)
2014 8.27 % (35.27 %) (39.43 %)


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2005 17.01 0.67 0.67 11.45
Q2 2005 17.01 0.66 0.66 11.15
Q3 2005 17.01 0.70 0.70 11.27
Q4 2005 17.01 0.73 0.73 11.40
Q1 2006 17.01 0.75 0.75 11.65
Q2 2006 17.01 0.79 0.79 11.87
Q3 2006 17.01 0.94 0.94 12.07
Q4 2006 17.01 1.12 1.12 12.43
Q1 2007 17.01 1.16 1.16 12.64
Q2 2007 17.01 1.27 1.27 12.28
Q3 2007 17.01 1.43 1.43 12.72
Q4 2007 17.01 1.65 1.65 13.27
Q1 2008 17.01 1.71 1.71 13.61
Q2 2008 17.01 1.84 1.84 13.13
Q3 2008 17.01 1.86 1.86 13.58
Q4 2008 17.01 1.77 1.77 14.05
Q1 2009 17.01 1.62 1.62 14.24
Q2 2009 17.01 1.36 1.36 13.34
Q3 2009 17.01 0.32 0.71 12.77
Q4 2009 17.01 0.43 0.54 13.35
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

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2005 89.06 89.06 5.19
Q2 2005 More than 100 More than 100 10.39
Q3 2005 More than 100 More than 100 14.45
Q4 2005 More than 100 More than 100 19.02
Q1 2006 More than 100 More than 100 10.66
Q2 2006 More than 100 More than 100 14.59
Q3 2006 More than 100 More than 100 34.81
Q4 2006 95.88 95.88 8.65
Q1 2007 96.15 96.15 8.82
Q2 2007 75.53 75.53 7.83
Q3 2007 75.38 75.38 8.50
Q4 2007 68.06 68.06 8.45
Q1 2008 47.67 47.67 6.00
Q2 2008 46.43 46.43 6.52
Q3 2008 28.61 28.61 3.93
Q4 2008 23.60 23.60 2.98
Q1 2009 33.56 33.56 3.81
Q2 2009 70.41 70.41 7.16
Q3 2009 More than 100 More than 100 6.01
Q4 2009 More than 100 More than 100 4.94
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

Business Segments (Million)

Compared With The
Period Library Sector Advertising and distribution sector Public administration & Investments sector
Q3 2006 10.61 38.39 -
Q4 2006 10.74 13.17 -
Q1 2007 8.61 18.36 -
Q2 2007 14.70 24.74 -
Q3 2007 12.01 24.26 -
Q4 2007 8.42 25.62 -
Q1 2008 9.39 22.62 -
Q2 2008 10.50 23.35 -
Q3 2008 17.19 27.05 -
Q4 2008 8.83 20.17 2.68
Q1 2009 8.88 17.00 -
Q2 2009 8.37 17.38 -
Q3 2009 12.98 17.22 -
Q4 2009 13.33 22.59 -
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 -


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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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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