Tihama widens FY2022/23 loss to SAR 56.4 mln; Q4 at SAR 38.9 mln

22/06/2023 Argaam Exclusive

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Tihama Advertising and Public Relations Co. (TAPRCO) slid into a deeper loss of SAR 56.4 million for the fiscal year ended 31 March 2023 from SAR 35.5 million a year earlier.

Financials (M)

Item	2021	2022	Change‬
Revenues	76.39	81.83	7.1 %
Gross Income	15.23	31.64	107.7 %
Operating Income	(44.48)	(34.29)	22.9 %
Net Income	(35.50)	(60.50)	(70.4 %)
Average Shares	18.90	18.90	0.0 %
EPS (Riyals)	(1.88)	(3.20)	(70.4 %)

The company reported an increase in general and administrative expenses by around SAR 24.1 million year-on-year (YoY). The provision for slow moving inventory increased by nearly SAR 18.6 million YoY.

During the 12-month period, Tihama recognized losses from claims of nearly SAR 4.3 million for the net book value of the outdoor advertising billboards. This came after a judgment was issued dismissing the company’s appeal against Riyadh Municipality for damages caused to the advertising billboards owned by the company, which were removed by the defendant in a way that led to damage.

Tihama also recorded SAR 500,000 losses from lawsuits. During the current year, the company also reported financial reorganization expenses of about SAR 1.5 million. Selling expenses rose by almost SAR 5.5 million YoY.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2021	Q4 2022	Change‬
Revenues	15.84	10.50	(33.7 %)
Gross Income	2.39	10.04	320.3 %
Operating Income	(14.96)	(17.69)	(18.2 %)
Net Income	(6.33)	(39.99)	(531.6 %)
Average Shares	18.90	18.90	0.0 %
EPS (Riyals)	(0.34)	(2.12)	(531.6 %)

Item	Q3 2022	Q4 2022	Change‬
Revenues	23.70	10.50	(55.7 %)
Gross Income	6.17	10.04	62.8 %
Operating Income	(8.11)	(17.69)	(118.1 %)
Net Income	(9.02)	(39.99)	(343.4 %)
Average Shares	5.00	18.90	-
EPS (Riyals)	(1.80)	(2.12)	(17.3 %)

Shareholders’ equity, after minority interest, reached -SAR 57.6 million by the end of the 12-month period, against SAR 6.4 million a year earlier.

Accumulated losses reached SAR 82.8 million as of March 31, 2023, exceeding the company’s capital of SAR 50 million.

View More Financial Results

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
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 %)
2013	112.41	(18.2 %)	(7.92)	(128.9 %)	(58.79)	(275.2 %)
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 %
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 %)
2015	102.64	(1.6 %)	(5.76)	(166.7 %)	(45.09)	0.8 %
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 %)
2016	86.64	(15.6 %)	(5.58)	3.1 %	(43.81)	2.8 %
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 %
2017	71.55	(17.4 %)	30.46	645.6 %	(13.56)	69.1 %
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 %)
2018	80.65	12.7 %	29.45	(3.3 %)	(11.11)	18.1 %
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 %)
Q1 2020	21.55	44.2 %	4.91	(29.9 %)	(5.46)	(22.6 %)
Q2 2020	21.42	(46.5 %)	3.48	(75.1 %)	(8.37)	(2392.6 %)
Q3 2020	12.33	(28.8 %)	2.28	(44.9 %)	(16.21)	(38.9 %)
Q4 2020	17.95	(26.7 %)	(0.03)	(100.6 %)	(25.32)	(24.1 %)
2020	73.25	(24.3 %)	10.63	(64.8 %)	(55.35)	(53.1 %)
Q1 2021	13.89	(35.5 %)	2.56	(47.9 %)	(10.89)	(99.6 %)
Q2 2021	32.22	50.4 %	9.65	177.8 %	(5.86)	29.9 %
Q3 2021	14.43	17.0 %	0.64	(72.2 %)	(12.76)	21.3 %
Q4 2021	15.84	(11.7 %)	2.39	7562.5 %	(14.96)	40.9 %
2021	76.39	4.3 %	15.23	43.3 %	(44.48)	19.6 %
Q1 2022	17.14	23.4 %	4.75	85.9 %	(7.48)	31.3 %
Q2 2022	30.48	(5.4 %)	10.68	10.7 %	(1.01)	82.7 %
Q3 2022	23.70	64.3 %	6.17	871.0 %	(8.11)	36.4 %
Q4 2022	10.50	(33.7 %)	10.04	320.3 %	(17.69)	(18.2 %)
2022	81.83	7.1 %	31.64	107.7 %	(34.29)	22.9 %

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2013	112.41	(18.2 %)	(7.92)	(128.9 %)	(58.79)	(275.2 %)
2014	104.33	(7.2 %)	8.63	209.0 %	(45.46)	22.7 %
2015	102.64	(1.6 %)	(5.76)	(166.7 %)	(45.09)	0.8 %
2016	86.64	(15.6 %)	(5.58)	3.1 %	(43.81)	2.8 %
2017	71.55	(17.4 %)	30.46	645.6 %	(13.56)	69.1 %
2018	80.65	12.7 %	29.45	(3.3 %)	(11.11)	18.1 %
2019	96.81	20.0 %	30.20	2.5 %	(36.15)	(225.5 %)
2020	73.25	(24.3 %)	10.63	(64.8 %)	(55.35)	(53.1 %)
2021	76.39	4.3 %	15.23	43.3 %	(44.48)	19.6 %
2022	81.83	7.1 %	31.64	107.7 %	(34.29)	22.9 %

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
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)
2013	(52.56)	(5626.3 %)	(3.09)	-	(52.56)	(3.09)
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)
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)
2015	(38.94)	5.3 %	(2.29)	7.06	(46.00)	(2.71)
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)
2016	(33.05)	15.1 %	(1.94)	-	(33.05)	(1.94)
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)
2017	3.20	109.7 %	0.19	1.07	2.13	0.13
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
2018	5.17	61.5 %	0.30	3.82	1.35	0.08
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)
Q1 2020	(3.10)	(363.3 %)	(0.18)	0.55	(3.65)	(0.21)
Q2 2020	(13.95)	(2318.4 %)	(0.74)	(2.77)	(11.18)	(0.59)
Q3 2020	(14.62)	0.6 %	(0.77)	3.09	(17.71)	(0.94)
Q4 2020	(40.51)	(219.3 %)	(2.14)	(7.96)	(32.56)	(1.72)
2020	(72.18)	(182.0 %)	(3.82)	(7.09)	(65.09)	(3.44)
Q1 2021	(11.53)	(272.4 %)	(0.61)	1.40	(12.93)	(0.68)
Q2 2021	(8.10)	41.9 %	(0.43)	(0.05)	(8.05)	(0.43)
Q3 2021	(9.54)	34.7 %	(0.50)	1.60	(11.14)	(0.59)
Q4 2021	(6.33)	84.4 %	(0.34)	1.97	(8.30)	(0.44)
2021	(35.50)	50.8 %	(1.88)	4.92	(40.42)	(2.14)
Q1 2022	(7.13)	38.1 %	(1.43)	-	(7.13)	(1.43)
Q2 2022	(3.41)	57.9 %	(0.68)	-	(3.41)	(0.68)
Q3 2022	(9.02)	5.4 %	(1.80)	(1.32)	(7.70)	(1.54)
Q4 2022	(39.99)	(531.6 %)	(2.12)	(22.58)	(17.41)	(0.92)
2022	(60.50)	(70.4 %)	(3.20)	(23.90)	(36.60)	(1.94)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2013	(52.56)	(5626.3 %)	(3.09)	-	(52.56)	(3.09)
2014	(41.14)	21.7 %	(2.42)	-	(41.14)	(2.42)
2015	(38.94)	5.3 %	(2.29)	7.06	(46.00)	(2.71)
2016	(33.05)	15.1 %	(1.94)	-	(33.05)	(1.94)
2017	3.20	109.7 %	0.19	1.07	2.13	0.13
2018	5.17	61.5 %	0.30	3.82	1.35	0.08
2019	(25.59)	(594.9 %)	(1.51)	7.73	(33.32)	(1.96)
2020	(72.18)	(182.0 %)	(3.82)	(7.09)	(65.09)	(3.44)
2021	(35.50)	50.8 %	(1.88)	4.92	(40.42)	(2.14)
2022	(60.50)	(70.4 %)	(3.20)	(23.90)	(36.60)	(1.94)

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
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 %)
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 %)
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 %)
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 %)
2016	(6.44 %)	(34.27 %)	(38.14 %)
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 %
2017	42.57 %	2.58 %	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 %
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 %)
Q1 2020	27.17 %	(12.24 %)	(29.90 %)
Q2 2020	20.81 %	(24.52 %)	(49.10 %)
Q3 2020	19.78 %	(31.46 %)	(59.10 %)
Q4 2020	14.52 %	(48.54 %)	(88.86 %)
2020	14.52 %	(48.54 %)	(88.86 %)
Q1 2021	12.63 %	(63.37 %)	(113.38 %)
Q2 2021	18.93 %	(50.60 %)	(93.26 %)
Q3 2021	16.32 %	(46.58 %)	(82.40 %)
Q4 2021	19.94 %	(26.18 %)	(52.91 %)
2021	19.94 %	(26.18 %)	(52.91 %)
Q1 2022	21.89 %	(21.61 %)	(43.48 %)
Q2 2022	23.70 %	(19.18 %)	(38.49 %)
Q3 2022	27.52 %	(13.52 %)	(30.45 %)
Q4 2022	38.66 %	(24.64 %)	(43.58 %)
2022	38.66 %	(24.64 %)	(44.73 %)

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2013	(7.05 %)	(44.71 %)	(46.75 %)
2014	8.27 %	(35.27 %)	(39.43 %)
2015	(5.61 %)	(28.92 %)	(44.82 %)
2016	(6.44 %)	(34.27 %)	(38.14 %)
2017	42.57 %	2.58 %	2.98 %
2018	36.52 %	9.55 %	1.68 %
2019	31.19 %	(13.20 %)	(34.42 %)
2020	14.52 %	(48.54 %)	(88.86 %)
2021	19.94 %	(26.18 %)	(52.91 %)
2022	38.66 %	(24.64 %)	(44.73 %)

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2013	(15.19 %)	(66.28 %)	(68.91 %)
Q2 2013	0.11 %	(26.00 %)	(30.53 %)
Q3 2013	(5.04 %)	(46.32 %)	(46.81 %)
Q4 2013	(15.26 %)	(55.47 %)	(54.86 %)
Q1 2014	(29.53 %)	(97.04 %)	(115.22 %)
Q2 2014	16.04 %	(1.81 %)	(7.56 %)
Q3 2014	(18.23 %)	(83.74 %)	(91.66 %)
Q4 2014	44.74 %	(4.88 %)	5.27 %
Q1 2015	(38.85 %)	(68.56 %)	(80.20 %)
Q2 2015	(18.17 %)	(60.64 %)	(70.46 %)
Q3 2015	5.89 %	(3.22 %)	(16.67 %)
Q4 2015	9.49 %	(12.13 %)	(41.36 %)
Q1 2016	(34.73 %)	(71.96 %)	(76.23 %)
Q2 2016	11.93 %	(3.97 %)	(11.29 %)
Q3 2016	(3.12 %)	(22.98 %)	(29.12 %)
Q4 2016	(14.48 %)	(40.38 %)	(35.32 %)
Q1 2017	30.23 %	(18.06 %)	13.04 %
Q2 2017	53.00 %	(18.19 %)	7.54 %
Q3 2017	41.10 %	5.88 %	2.52 %
Q4 2017	46.67 %	39.93 %	(11.44 %)
Q1 2018	58.69 %	31.78 %	7.14 %
Q2 2018	38.33 %	0.87 %	3.93 %
Q3 2018	33.86 %	15.69 %	(4.76 %)
Q4 2018	20.35 %	(20.58 %)	11.64 %
Q1 2019	46.87 %	1.39 %	(40.39 %)
Q2 2019	34.79 %	13.43 %	(1.19 %)
Q3 2019	23.90 %	(35.87 %)	(70.34 %)
Q4 2019	20.89 %	(49.63 %)	(59.72 %)
Q1 2020	22.78 %	1.48 %	(16.91 %)
Q2 2020	16.22 %	(12.81 %)	(52.19 %)
Q3 2020	18.51 %	(85.39 %)	(143.65 %)
Q4 2020	(0.18 %)	(125.93 %)	(181.38 %)
Q1 2021	18.40 %	(40.98 %)	(93.04 %)
Q2 2021	29.96 %	0.53 %	(24.99 %)
Q3 2021	4.40 %	(58.48 %)	(77.24 %)
Q4 2021	15.07 %	(38.13 %)	(52.38 %)
Q1 2022	27.72 %	(16.92 %)	(41.62 %)
Q2 2022	35.04 %	8.01 %	(11.18 %)
Q3 2022	26.01 %	(22.30 %)	(32.50 %)
Q4 2022	95.62 %	(137.39 %)	(165.88 %)

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
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
Q4 2020	18.90	(3.82)	(3.44)	2.34
Q1 2021	18.90	(4.27)	(3.93)	2.20
Q2 2021	18.90	(3.96)	(3.77)	1.30
Q3 2021	18.90	(3.69)	(3.42)	0.70
Q4 2021	18.90	(1.88)	(2.14)	0.34
Q1 2022	5.00	(6.22)	(6.93)	(0.15)
Q2 2022	5.00	(5.28)	(6.00)	(0.30)
Q3 2022	5.00	(5.18)	(5.31)	(4.45)
Q4 2022	18.90	(3.15)	(1.89)	(3.48)

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2013	17.01	(3.09)	(3.09)	10.78
2014	17.01	(2.42)	(2.42)	8.36
2015	17.01	(2.29)	(2.71)	6.07
2016	17.01	(1.94)	(1.94)	2.96
2017	17.01	0.19	0.13	3.38
2018	17.01	0.30	0.08	3.73
2019	17.01	(1.51)	(1.96)	2.10
2020	18.90	(3.82)	(3.44)	2.34
2021	18.90	(1.88)	(2.14)	0.34
2022	18.90	(3.20)	(1.94)	(3.48)

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
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
Q4 2020	NEG	NEG	43.30
Q1 2021	NEG	NEG	49.25
Q2 2021	NEG	NEG	87.51
Q3 2021	NEG	NEG	141.76
Q4 2021	NEG	NEG	219.29
Q1 2022	NEG	NEG	(1886.48)
Q2 2022	NEG	NEG	(714.93)
Q3 2022	NEG	NEG	(47.18)
Q4 2022	NEG	NEG	(10.59)

Period	P/E	Adjusted P/E	Price/book
2013	NEG	NEG	27.01
2014	NEG	NEG	28.72
2015	NEG	NEG	13.03
2016	NEG	NEG	30.47
2017	More than 100	More than 100	18.76
2018	More than 100	More than 100	15.84
2019	NEG	NEG	22.67
2020	NEG	NEG	43.30
2021	NEG	NEG	219.29
2022	NEG	NEG	(10.59)

Business Segments (Million)

Compared With The

Period	Retail Sector	Trading & Distribution Services	Production	Advertising Sector	Library Sector	Advertising and distribution sector	Public administration & Investments sector	Eliminations
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	-	-	-
Q1 2020	-	12.27	-	8.12	1.17	-	-	-
Q2 2020	-	14.05	-	3.89	3.48	-	-	-
Q3 2020	-	1.92	-	6.07	4.33	-	-	-
Q1 2021	-	0.26	8.50	1.48	6.10	-	-	-
Q2 2021	-	20.51	4.98	1.41	2.89	-	-	-
Q3 2021	-	1.56	3.94	1.43	7.49	-	-	-
Q4 2021	-	0.70	6.46	1.98	6.70	-	-	-
Q1 2022	8.19	1.23	6.16	1.65	0.01	-	-	(0.10)
Q2 2022	7.52	18.80	2.91	1.14	0.01	-	-	-
Q3 2022	7.36	7.30	7.66	1.37	-	-	-	-

Period	Retail Sector	Trading & Distribution Services	Production	Advertising Sector	Library Sector	Advertising and distribution sector	Public administration & Investments sector	Eliminations
2013	-	-	-	-	21.48	90.93	-	-
2014	-	-	-	-	18.20	86.13	-	-
2015	-	-	-	-	8.05	94.59	-	-
2016	-	-	-	-	4.71	81.93	-	-
2017	-	20.12	-	45.89	5.54	-	-	-
2018	-	27.77	-	49.12	3.76	-	-	-
2019	-	28.34	-	43.09	25.39	-	-	-
2020	-	27.69	27.15	7.18	13.42	-	12.17	(14.35)
2021	-	23.03	23.88	6.29	23.18	-	-	-
2022	31.15	27.20	18.54	5.04	-	-	-	-

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 )

Tihama Advertising and Public Relations Co. (TAPRCO)

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Tihama widens FY2022/23 loss to SAR 56.4 mln; Q4 at SAR 38.9 mln

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Tihama widens FY2022/23 loss to SAR 56.4 mln; Q4 at SAR 38.9 mln

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Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million) Q3 2022

Revenue by Business Segment (Latest) 2022 Q4

Financial Ratios

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Tihama Advertising and Public Relations Co. (TAPRCO)

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