Al Hokair Group’s net profit falls 84% in Q1

Al Hokair Group’s net profit falls 84% in Q1

11/05/2017 Argaam Exclusive

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Abdulmohsen Al Hokair Group for Tourism and Development Co. (Al Hokair Group) reported a net profit of SAR 7.99 million for the first quarter 2017, an 84 percent year on year drop on lower retail and corporate demand, and spending on hotels as a result of government spending cuts, lower profit from associates and the seasonal nature of operations which had a positive impact on the company’s results in Q1-2016.

The company’s net profit fell 56 percent quarter on quarter due to lower demand on the company’s services and the decline in the current Omrah season.



Current Quarter Comparison (M)

Compared With The
Item Q1 2016 Q1 2017 Change‬
Revenues 297.81 258.31 (13.3 %)
Gross Income 106.25 64.45 (39.3 %)
Operating Income 45.54 5.90 (87.0 %)
Net Income 49.16 7.99 (83.7 %)
Average Shares 226.54 226.54 -
EPS (Riyals) 0.22 0.04 (83.7 %)


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
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 %)
Q1 2016 297.81 7.1 % 106.25 (6.4 %) 45.54 (17.6 %)
Q2 2016 279.87 1.5 % 82.22 (16.0 %) 12.15 (65.5 %)
Q3 2016 336.89 6.4 % 123.75 4.0 % 57.19 8.1 %
Q4 2016 258.96 (6.0 %) 61.95 (32.2 %) 5.49 (80.1 %)
Q1 2017 258.31 (13.3 %) 64.45 (39.3 %) 5.90 (87.0 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
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
Q1 2016 49.16 (14.7 %) 0.22 - 49.16 0.22
Q2 2016 16.50 (61.7 %) 0.07 - 16.50 0.07
Q3 2016 55.80 (2.5 %) 0.25 - 55.80 0.25
Q4 2016 4.85 (84.8 %) 0.02 - 4.85 0.02
Q1 2017 7.99 (83.7 %) 0.04 - 7.99 0.04

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
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 %
Q1 2016 35.56 % 25.04 % 15.56 %
Q2 2016 34.09 % 23.40 % 13.23 %
Q3 2016 33.91 % 23.53 % 12.89 %
Q4 2016 31.88 % 22.41 % 10.76 %
Q1 2017 29.31 % 20.02 % 7.51 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
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
Q1 2016 226.54 0.80 0.80 2.95
Q2 2016 226.54 0.68 0.68 3.02
Q3 2016 226.54 0.68 0.68 3.11
Q4 2016 226.54 0.56 0.56 3.08
Q1 2017 226.54 0.38 0.38 3.07

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
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
Q1 2016 16.51 16.51 4.47
Q2 2016 17.99 17.99 4.07
Q3 2016 10.59 10.59 2.30
Q4 2016 20.76 20.76 3.75
Q1 2017 25.78 25.78 3.15

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)
Q1 2016 179.29 108.87 9.65 -
Q2 2016 174.97 96.54 8.35 -
Q3 2016 170.76 157.25 8.88 -
Q4 2016 153.81 96.23 8.92 -
Q1 2017 145.66 103.18 9.48 -

Analysts Estimates (Million)

Item Q1 2017 (e) Q1 2017 (a) Change‬
Average 42.25 7.99 (81.1 %)

Estimates vs Actual (Million)

Item Q1 2017 (e) Q1 2017 (a) Change
OSOOL AND BAKHEET 39.80 7.99 (79.9) %
AlJazira Capital 44.70 7.99 (82.1) %


Financial Ratios
Current
Market Cap (M Riyal) 787.50
Enterprise Value (EV) (M) 1,199.23
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 3.56
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
0.00 0.00 %

BAAN Holding Group Co. (BAAN)

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