Al Hokair Group widens losses in 9M 2019

Al Hokair Group widens losses in 9M 2019

29/10/2019 Argaam Exclusive

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Abdulmohsen Alhokair Group for Tourism and Development (Al Hokair Group) widened losses after zakat and tax to SAR 46.96 million for the first nine months of 2019, compared to net losses of SAR 2.57 million in year-earlier period.

 

The losses resulted due to lower revenues, fierce competition, lower average daily room rate, increased financial charges, and lower profit share from joint ventures.



Financials (M)

Item 9m 2018 9m 2019 Change‬
Revenues 894.13 861.51 (3.6 %)
Gross Income 202.45 226.86 12.1 %
Operating Income (7.95) 28.32 456.3 %
Net Income (2.49) (46.96) (1,786.5 %)
Average Shares 226.54 226.54 -
EPS (Riyals) (0.01) (0.21) (1,786.5 %)

Al Hokair incurred net losses after zakat and tax of SAR 15.52 million in Q3 2019, versus net profit of SAR 1.93 million in a year-earlier period, due to lower revenues and increased market competition.

 

On a sequential basis, the company swung to losses in Q3 2019.



Current Quarter Comparison (M)

Compared With The
Item Q3 2018 Q3 2019 Change‬
Revenues 315.52 301.85 (4.3 %)
Gross Income 75.35 82.85 10.0 %
Operating Income 0.64 13.46 2006.4 %
Net Income 1.93 (15.52) (904.9 %)
Average Shares 226.54 226.54 -
EPS (Riyals) 0.01 (0.07) (904.9 %)


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
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 %)
Q2 2017 289.40 3.4 % 77.59 (5.6 %) 10.72 (11.8 %)
Q3 2017 316.08 (6.2 %) 79.58 (35.7 %) 7.25 (87.3 %)
Q4 2017 260.30 0.5 % 46.90 (24.3 %) (17.23) (413.8 %)
Q1 2018 271.00 4.9 % 56.98 (11.6 %) (7.35) (224.5 %)
Q2 2018 307.62 6.3 % 70.13 (9.6 %) (1.24) (111.5 %)
Q3 2018 315.52 (0.2 %) 75.35 (5.3 %) 0.64 (91.2 %)
Q4 2018 256.82 (1.3 %) 25.07 (46.5 %) (41.89) (143.1 %)
Q1 2019 260.73 (3.8 %) 59.70 4.8 % (3.31) 55.0 %
Q2 2019 298.93 (2.8 %) 84.31 20.2 % 18.16 1570.5 %
Q3 2019 301.85 (4.3 %) 82.85 10.0 % 13.46 2006.4 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
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
Q2 2017 14.83 (10.1 %) 0.07 - 14.83 0.07
Q3 2017 9.00 (83.9 %) 0.04 - 9.00 0.04
Q4 2017 (23.14) (577.2 %) (0.10) - (23.14) (0.10)
Q1 2018 (7.52) (194.1 %) (0.03) - (7.52) (0.03)
Q2 2018 3.10 (79.1 %) 0.01 - 3.10 0.01
Q3 2018 1.93 (78.6 %) 0.01 - 1.93 0.01
Q4 2018 (73.56) (217.9 %) (0.32) (24.50) (49.06) (0.22)
Q1 2019 (32.06) (326.3 %) (0.14) - (32.06) (0.14)
Q2 2019 0.63 (79.9 %) 0.00 - 0.63 0.00
Q3 2019 (15.52) (904.9 %) (0.07) - (15.52) (0.07)

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
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 %
Q2 2017 28.66 % 19.98 % 7.30 %
Q3 2017 25.26 % 16.11 % 3.27 %
Q4 2017 23.89 % 14.34 % 0.77 %
Q1 2018 22.96 % 13.34 % (0.60 %)
Q2 2018 21.96 % 12.32 % (1.61 %)
Q3 2018 21.60 % 12.11 % (2.22 %)
Q4 2018 19.77 % 10.15 % (4.48 %)
Q1 2019 20.19 % 14.96 % (6.67 %)
Q2 2019 21.59 % 21.47 % (6.94 %)
Q3 2019 22.53 % 27.37 % (8.59 %)


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
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
Q2 2017 226.54 0.37 0.37 3.13
Q3 2017 226.54 0.16 0.16 3.17
Q4 2017 226.54 0.04 0.04 2.96
Q1 2018 226.54 (0.03) (0.03) 2.88
Q2 2018 226.54 (0.08) (0.08) 2.89
Q3 2018 226.54 (0.11) (0.11) 2.90
Q4 2018 226.54 (0.34) (0.23) 2.57
Q1 2019 226.54 (0.44) (0.34) 2.43
Q2 2019 226.54 (0.45) (0.35) 2.43
Q3 2019 226.54 (0.53) (0.42) 2.36

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
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
Q2 2017 24.63 24.63 2.90
Q3 2017 59.10 59.10 3.02
Q4 2017 More than 100 More than 100 2.52
Q1 2018 NEG NEG 2.21
Q2 2018 NEG NEG 2.40
Q3 2018 NEG NEG 2.03
Q4 2018 NEG NEG 2.03
Q1 2019 NEG NEG 2.13
Q2 2019 NEG NEG 1.75
Q3 2019 NEG NEG 1.90

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 -
Q2 2017 165.94 114.04 9.42 -
Q3 2017 160.63 144.94 10.51 -
Q4 2017 141.06 106.92 12.32 -
Q1 2018 149.34 108.02 13.64 -
Q2 2018 183.71 109.66 14.26 -
Q3 2018 172.72 127.08 15.72 -
Q4 2018 144.26 99.06 13.50 -
Q1 2019 142.46 100.10 18.18 -
Q2 2019 158.30 123.81 16.82 -
Q3 2019 160.17 124.82 16.87 -


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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