Tihama widens 9M FY20/21 losses to SAR 31.7 mln

Tihama widens 9M FY20/21 losses to SAR 31.7 mln

11/02/2021 Argaam Exclusive

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Tihama Advertising and Public Relations Co. reported net loss of SAR 31.7 million for the nine months ending Dec. 31, 2020, widening by more than two-fold year-on-year (YoY), driven by  lower gross profit, and decreased revenue over the COVID-19 outbreak. 

 

The company narrowed the third-quarter net losses to SAR 14.6 million, due to lower gross margins of retail and bookstores segment, impacted by the COVID-19 outbreak.



Financials (M)

Item 9m 2019 9m 2020 Change‬
Revenues 72.33 55.30 (23.5 %)
Gross Income 25.08 10.67 (57.5 %)
Operating Income (15.75) (30.03) (90.7 %)
Net Income (12.91) (31.67) (145.4 %)
Average Shares 17.01 18.90 11.1 %
EPS (Riyals) (0.76) (1.68) (120.8 %)

Tihama also cited the suspension of the school year season over the pandemic outbreak, in addition to higher general and selling expenses.

 

On a sequential basis, Q3 2020/2021 losses widened by 73.2%.



Current Quarter Comparison (M)

Compared With The
Item Q3 2019 Q3 2020 Change‬
Revenues 17.32 12.33 (28.8 %)
Gross Income 4.14 2.28 (44.9 %)
Operating Income (11.66) (16.21) (38.9 %)
Net Income (14.71) (14.62) 0.6 %
Average Shares 17.01 18.90 11.1 %
EPS (Riyals) (0.87) (0.77) 10.6 %


Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Riyal)
Q1 2011 35.79 44.8 % 6.95 (20.2 %) (2.67) (139.3 %) (0.16)
Q2 2011 47.14 (24.6 %) 16.21 32.5 % 8.46 91.2 % 0.50
Q3 2011 38.75 (11.1 %) 8.81 (23.8 %) (1.74) (120.8 %) (0.10)
Q4 2011 35.05 (3.1 %) 17.99 15.8 % 13.09 220.7 % 0.77
Q1 2012 24.37 (31.9 %) 8.19 17.8 % 1.65 161.7 % 0.10
Q2 2012 44.18 (6.3 %) 8.86 (45.3 %) 2.85 (66.3 %) 0.17
Q3 2012 35.41 (8.6 %) 5.82 (34.0 %) (2.44) (40.3 %) (0.14)
Q4 2012 33.42 (4.7 %) 4.58 (74.5 %) (1.11) (108.5 %) (0.07)
Q1 2013 20.10 (17.5 %) (3.05) (137.3 %) (13.85) (939.5 %) (0.81)
Q2 2013 38.27 (13.4 %) 0.04 (99.5 %) (11.68) (510.1 %) (0.69)
Q3 2013 32.62 (7.9 %) (1.64) (128.2 %) (15.27) (525.6 %) (0.90)
Q4 2013 21.41 (35.9 %) (3.27) (171.3 %) (11.75) (960.1 %) (0.69)
Q1 2014 12.95 (35.6 %) (3.83) (25.3 %) (14.93) (7.7 %) (0.88)
Q2 2014 40.57 6.0 % 6.51 15030.2 % (3.07) 73.8 % (0.18)
Q3 2014 26.65 (18.3 %) (4.86) (195.7 %) (24.42) (59.9 %) (1.44)
Q4 2014 24.16 12.8 % 10.81 430.9 % 1.27 110.8 % 0.07
Q1 2015 14.28 10.2 % (5.55) (45.0 %) (11.45) 23.3 % (0.67)
Q2 2015 26.04 (35.8 %) (4.73) (172.7 %) (29.29) (855.6 %) (1.72)
Q3 2015 38.78 45.5 % 2.29 147.0 % 11.54 147.2 % 0.68
Q4 2015 23.54 (2.6 %) 2.23 (79.3 %) (9.73) (864.1 %) (0.57)
Q1 2016 13.43 (6.0 %) (4.66) 15.9 % (10.23) 10.6 % (0.60)
Q2 2016 27.33 4.9 % 3.26 168.9 % (3.09) 89.5 % (0.18)
Q3 2016 26.11 (32.7 %) (0.81) (135.6 %) (7.60) (165.9 %) (0.45)
Q4 2016 19.78 (16.0 %) (2.86) (228.2 %) (6.99) 28.2 % (0.41)
Q1 2017 13.95 3.9 % 4.22 190.4 % 1.82 117.8 % 0.11
Q2 2017 15.21 (44.4 %) 8.06 147.1 % 2.22 171.8 % 0.13
Q3 2017 28.77 10.2 % 11.82 1552.5 % 0.73 109.5 % 0.04
Q4 2017 13.63 (31.1 %) 6.36 322.2 % (1.56) 77.7 % (0.09)
Q1 2018 14.00 0.4 % 8.22 94.9 % 1.00 (45.1 %) 0.06
Q2 2018 13.50 (11.2 %) 5.17 (35.8 %) 0.53 (76.1 %) 0.03
Q3 2018 38.81 34.9 % 13.14 11.2 % 1.97 171.8 % 0.12
Q4 2018 14.34 5.2 % 2.92 (54.1 %) 1.67 207.1 % 0.10
Q1 2019 14.95 6.8 % 7.00 (14.7 %) 1.18 17.7 % 0.07
Q2 2019 40.07 196.8 % 13.94 169.4 % 0.63 18.7 % 0.04
Q3 2019 17.32 (55.4 %) 4.14 (68.5 %) (14.71) (845.6 %) (0.87)
Q4 2019 24.48 70.7 % 5.12 75.3 % (12.69) (860.2 %) (0.75)
Q1 2020 21.55 44.2 % 4.91 (29.9 %) (3.10) (363.3 %) (0.18)
Q2 2020 21.42 (46.5 %) 3.48 (75.1 %) (13.95) (2318.4 %) (0.74)
Q3 2020 12.33 (28.8 %) 2.28 (44.9 %) (14.62) 0.6 % (0.77)

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
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 %)
Q1 2020 27.17 % (12.24 %) (29.90 %)
Q2 2020 20.81 % (24.52 %) (49.10 %)
Q3 2020 19.78 % (31.46 %) (59.10 %)


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
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
Q1 2020 17.01 (1.76) (1.82) 1.65
Q2 2020 18.90 (2.35) (2.20) 6.27
Q3 2020 18.90 (2.35) (2.49) 5.50

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
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
Q1 2020 NEG NEG 20.52
Q2 2020 NEG NEG 5.52
Q3 2020 NEG NEG 21.74

Business Segments (Million)

Compared With The
Period Advertising Sector Production Trading & Distribution Services Library Sector Advertising and distribution sector Public administration & Investments sector Eliminations
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 12.56 - 0.09 0.77 - - -
Q2 2016 14.23 - 11.60 1.50 - - -
Q3 2016 12.88 - 11.21 2.01 - - -
Q4 2016 - - - 0.42 19.36 - -
Q1 2017 13.42 - 0.10 0.43 - - -
Q2 2017 11.43 - 1.22 2.55 - - -
Q3 2017 10.64 - 15.80 1.82 - - -
Q4 2017 10.40 - 2.99 0.75 - - -
Q1 2018 13.40 - 0.12 0.47 - - -
Q2 2018 11.07 - 1.11 1.32 - - -
Q3 2018 11.50 - 26.38 0.94 - - -
Q4 2018 13.15 - 0.16 1.02 - - -
Q1 2019 14.18 - 0.15 0.61 - - -
Q2 2019 6.50 - 26.58 6.98 - - -
Q3 2019 5.94 - 1.30 10.08 - - -
Q4 2019 16.46 - 0.30 7.72 - - -
Q1 2020 8.12 - 12.27 1.17 - - -
Q2 2020 3.89 - 14.05 3.48 - - -
Q3 2020 6.07 - 1.92 4.33 - - -


Financial Ratios
Current
Market Cap (M Riyal) 628.00
Enterprise Value (EV) (M) 332.74
Shares Outstanding ((M)) 40.00
EPS ( Riyal) (TTM) (1.63)
Book Value (BV) ( Riyal) 5.83
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 2.69
Return on Average Assets (%) (TTM) (20.33 )
Return on Average Equity (%) (TTM) (61.91 )
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Share Price

Tihama Advertising and Public Relations Co.
15.70
(0.18) (1.13 %)

Tihama Advertising and Public Relations Co. (TAPRCO)

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