Alhokair Group's FY15 profit falls 3% on expansion costs

Alhokair Group's FY15 profit falls 3% on expansion costs

21/01/2016 Argaam Exclusive

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Abdulmohsen Alhokair Group for Tourism and Development Co. (Al Hokair Group) said its net profit for the 2015 fiscal year fell 3.4 percent  year-on-year (YOY) to SAR 189.8 million on pre-operating expenses related to the opening of new hotels and higher general and administrative costs.



Financials (M)

Item 2014 2015 Change‬
Revenues 951.62 1,145.90 20.4 %
Gross Income 356.31 421.80 18.4 %
Operating Income 182.22 170.92 (6.2 %)
Net Income 196.49 189.78 (3.4 %)
Average Shares 226.54 226.54 -
EPS (Riyals) 0.87 0.84 (3.4 %)

 

The group’s fourth-quarter net profit dropped 37 percent YOY to SAR 31.9 million. Profit tumbled 44 percent quarter-on-quarter.



Current Quarter Comparison (M)

Compared With The
Item Q4 2014 Q4 2015 Change‬
Revenues 232.47 275.59 18.5 %
Gross Income 86.37 91.39 5.8 %
Operating Income 47.55 27.55 (42.1 %)
Net Income 50.24 31.90 (36.5 %)
Average Shares 226.54 226.54 -
EPS (Riyals) 0.22 0.14 (36.5 %)


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2006 - - - - - -
Q2 2006 - - - - - -
Q3 2006 - - - - - -
Q4 2006 - - - - - -
Q1 2007 - - - - - -
Q2 2007 - - - - - -
Q3 2007 - - - - - -
Q4 2007 - - - - - -
Q1 2008 - - - - - -
Q2 2008 - - - - - -
Q3 2008 - - - - - -
Q4 2008 - - - - - -
Q1 2009 - - - - - -
Q2 2009 - - - - - -
Q3 2009 - - - - - -
Q4 2009 - - - - - -
Q1 2010 - - - - - -
Q2 2010 - - - - - -
Q3 2010 - - - - - -
Q4 2010 - - - - - -
Q1 2011 - - - - - -
Q2 2011 - - - - - -
Q3 2011 - - - - - -
Q4 2011 - - - - - -
Q1 2012 184.33 - 75.34 - 43.30 -
Q2 2012 199.62 - 82.19 - 45.96 -
Q3 2012 193.78 - 73.93 - 39.43 -
Q4 2012 192.62 - 64.59 - 25.11 -
Q1 2013 218.12 18.3 % 83.27 10.5 % 42.47 (1.9 %)
Q2 2013 231.99 16.2 % 89.12 8.4 % 49.14 6.9 %
Q3 2013 217.19 12.1 % 69.53 (6.0 %) 29.12 (26.1 %)
Q4 2013 212.90 10.5 % 84.28 30.5 % 48.95 95.0 %
Q1 2014 232.60 6.6 % 90.43 8.6 % 47.23 11.2 %
Q2 2014 241.06 3.9 % 88.93 (0.2 %) 47.43 (3.5 %)
Q3 2014 245.49 13.0 % 90.59 30.3 % 40.00 37.4 %
Q4 2014 232.47 9.2 % 86.37 2.5 % 47.55 (2.9 %)
Q1 2015 278.05 19.5 % 113.50 25.5 % 55.24 17.0 %
Q2 2015 275.62 14.3 % 97.93 10.1 % 35.22 (25.7 %)
Q3 2015 316.63 29.0 % 118.98 31.3 % 52.91 32.3 %
Q4 2015 275.59 18.5 % 91.39 5.8 % 27.55 (42.1 %)
2015 1,145.90 20.4 % 421.80 18.4 % 170.92 (6.2 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2006 - - - - - -
Q2 2006 - - - - - -
Q3 2006 - - - - - -
Q4 2006 - - - - - -
Q1 2007 - - - - - -
Q2 2007 - - - - - -
Q3 2007 - - - - - -
Q4 2007 - - - - - -
Q1 2008 - - - - - -
Q2 2008 - - - - - -
Q3 2008 - - - - - -
Q4 2008 - - - - - -
Q1 2009 - - - - - -
Q2 2009 - - - - - -
Q3 2009 - - - - - -
Q4 2009 - - - - - -
Q1 2010 - - - - - -
Q2 2010 - - - - - -
Q3 2010 - - - - - -
Q4 2010 - - - - - -
Q1 2011 - - - - - -
Q2 2011 - - - - - -
Q3 2011 - - - - - -
Q4 2011 - - - - - -
Q1 2012 49.82 - 0.22 - 49.82 0.22
Q2 2012 53.21 - 0.23 - 53.21 0.23
Q3 2012 47.01 - 0.21 - 47.01 0.21
Q4 2012 29.92 - 0.13 - 29.92 0.13
Q1 2013 47.79 (4.1 %) 0.21 - 47.79 0.21
Q2 2013 54.24 1.9 % 0.24 - 54.24 0.24
Q3 2013 32.55 (30.8 %) 0.14 - 32.55 0.14
Q4 2013 60.91 103.6 % 0.27 4.72 56.18 0.25
Q1 2014 52.06 8.9 % 0.23 - 52.06 0.23
Q2 2014 51.61 (4.8 %) 0.23 - 51.61 0.23
Q3 2014 42.58 30.8 % 0.19 - 42.58 0.19
Q4 2014 50.24 (17.5 %) 0.22 - 50.24 0.22
Q1 2015 57.60 10.6 % 0.25 - 57.60 0.25
Q2 2015 43.08 (16.5 %) 0.19 - 43.08 0.19
Q3 2015 57.20 34.3 % 0.25 - 57.20 0.25
Q4 2015 31.90 (36.5 %) 0.14 - 31.90 0.14
2015 189.78 (3.4 %) 0.84 - 189.78 0.84

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2006 - - -
Q2 2006 - - -
Q3 2006 - - -
Q4 2006 - - -
Q1 2007 - - -
Q2 2007 - - -
Q3 2007 - - -
Q4 2007 - - -
Q1 2008 - - -
Q2 2008 - - -
Q3 2008 - - -
Q4 2008 - - -
Q1 2009 - - -
Q2 2009 - - -
Q3 2009 - - -
Q4 2009 - - -
Q1 2010 - - -
Q2 2010 - - -
Q3 2010 - - -
Q4 2010 - - -
Q1 2011 - - -
Q2 2011 - - -
Q3 2011 - - -
Q4 2011 - - -
Q1 2012 - - -
Q2 2012 - - -
Q3 2012 - - -
Q4 2012 38.43 % 32.12 % 23.36 %
Q1 2013 37.80 % 30.93 % 22.13 %
Q2 2013 37.17 % 30.50 % 21.39 %
Q3 2013 35.64 % 28.73 % 19.13 %
Q4 2013 37.06 % 30.45 % 21.67 %
Q1 2014 37.26 % 30.38 % 21.80 %
Q2 2014 36.86 % 29.92 % 21.29 %
Q3 2014 38.00 % 30.38 % 21.72 %
Q4 2014 37.44 % 30.06 % 20.65 %
Q1 2015 38.05 % 29.92 % 20.26 %
Q2 2015 37.65 % 28.14 % 18.76 %
Q3 2015 37.79 % 28.23 % 18.87 %
Q4 2015 36.81 % 25.81 % 16.56 %
2015 36.81 % 25.81 % 16.56 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2006 - - - -
Q2 2006 - - - -
Q3 2006 - - - -
Q4 2006 - - - -
Q1 2007 - - - -
Q2 2007 - - - -
Q3 2007 - - - -
Q4 2007 - - - -
Q1 2008 - - - -
Q2 2008 - - - -
Q3 2008 - - - -
Q4 2008 - - - -
Q1 2009 - - - -
Q2 2009 - - - -
Q3 2009 - - - -
Q4 2009 - - - -
Q1 2010 - - - -
Q2 2010 - - - -
Q3 2010 - - - -
Q4 2010 - - - -
Q1 2011 - - - -
Q2 2011 - - - -
Q3 2011 - - - -
Q4 2011 - - - -
Q1 2012 226.54 - - 3.83
Q2 2012 226.54 - - 2.54
Q3 2012 226.54 - - 2.74
Q4 2012 226.54 0.79 0.79 2.48
Q1 2013 226.54 0.79 0.79 2.70
Q2 2013 226.54 0.79 0.79 2.94
Q3 2013 226.54 0.73 0.73 3.08
Q4 2013 226.54 0.86 0.84 3.35
Q1 2014 226.54 0.88 0.86 3.27
Q2 2014 226.54 0.87 0.85 3.20
Q3 2014 226.54 0.91 0.89 3.08
Q4 2014 226.54 0.87 0.87 3.13
Q1 2015 226.54 0.89 0.89 3.39
Q2 2015 226.54 0.85 0.85 3.27
Q3 2015 226.54 0.92 0.92 3.53
Q4 2015 226.54 0.84 0.84 3.36

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2006 - - -
Q2 2006 - - -
Q3 2006 - - -
Q4 2006 - - -
Q1 2007 - - -
Q2 2007 - - -
Q3 2007 - - -
Q4 2007 - - -
Q1 2008 - - -
Q2 2008 - - -
Q3 2008 - - -
Q4 2008 - - -
Q1 2009 - - -
Q2 2009 - - -
Q3 2009 - - -
Q4 2009 - - -
Q1 2010 - - -
Q2 2010 - - -
Q3 2010 - - -
Q4 2010 - - -
Q1 2011 - - -
Q2 2011 - - -
Q3 2011 - - -
Q4 2011 - - -
Q1 2012 - - -
Q2 2012 - - -
Q3 2012 - - -
Q4 2012 - - -
Q1 2013 - - -
Q2 2013 - - -
Q3 2013 - - -
Q4 2013 - - -
Q1 2014 - - -
Q2 2014 23.07 23.63 6.27
Q3 2014 28.78 29.46 8.54
Q4 2014 20.68 20.68 5.73
Q1 2015 24.39 24.39 6.42
Q2 2015 29.97 29.97 7.82
Q3 2015 22.79 22.79 5.94
Q4 2015 23.77 23.77 5.92

Business Segments (Million)

Compared With The
Period Hotels sector Recreational centers sector Other sectors Disposals
Q1 2012 115.48 65.86 3.69 (0.69)
Q2 2012 130.73 65.52 4.20 (0.83)
Q3 2012 110.73 78.08 5.71 (0.74)
Q4 2012 126.00 62.92 3.46 0.24
Q1 2013 137.98 76.11 4.77 (0.74)
Q2 2013 151.69 76.30 4.76 (0.75)
Q3 2013 127.96 84.80 5.05 (0.76)
Q4 2013 135.45 73.43 4.97 (0.94)
Q1 2014 147.82 80.21 5.37 (0.80)
Q2 2014 158.09 78.81 4.94 (0.79)
Q3 2014 142.08 98.68 5.57 (0.84)
Q4 2014 144.34 83.69 5.28 (0.83)
Q1 2015 169.23 104.03 5.50 (0.70)
Q2 2015 177.58 93.11 5.58 (0.64)
Q3 2015 178.24 133.24 5.82 (0.67)
Q4 2015 177.93 89.39 9.14 (0.86)

Analysts Estimates (Million)

Item Q4 2015 (e) Q4 2015 (a) Change‬
Average 55.00 31.90 (42.0 %)

Estimates vs Actual (Million)

Item Q4 2015 (e) Q4 2015 (a) Change
OSOOL AND BAKHEET 54.50 31.90 (41.5) %
AlJazira Capital 55.50 31.90 (42.5) %


Financial Ratios
Current
Market Cap (M Riyal) 784.35
Enterprise Value (EV) (M) 1,196.08
Shares Outstanding ((M)) 315.00
EPS ( Riyal) (TTM) (0.16)
Book Value (BV) ( Riyal) 0.70
Par Value ( Riyal) 1.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 3.54
Return on Average Assets (%) (TTM) (2.46 )
Return on Average Equity (%) (TTM) (20.25 )
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Share Price

BAAN Holding Group Co.
2.49
(0.02) (0.80 %)

BAAN Holding Group Co. (BAAN)

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