Al Hammadi 9M 2024 profit up 10% to SAR 261M, Q3 at SAR 79.1M

Al Hammadi 9M 2024 profit up 10% to SAR 261M, Q3 at SAR 79.1M

03/11/2024 Argaam Exclusive

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Al Hammadi Holding reported a net profit of SAR 261million in 9M 2024, a rise of 10% from SAR 238.1 million in the year-earlier period.



Financials (M)

Item 9m 2023 9m 2024 Change‬
Revenues 873.08 831.09 (4.8 %)
Gross Income 326.70 272.85 (16.5 %)
Operating Income 254.07 208.86 (17.8 %)
Net Income 238.14 261.04 9.6 %
Average Shares 160.00 160.00 -
EPS (Riyals) 1.49 1.63 9.6 %

The company attributed the profit growth to an increase in net profit margin to 31.4% compared to 27.3% a year before.

 

It also cited recognition of non-recurring gains of SAR 55.27 million from the sale of a vacant land plot in Riyadh's Al Riyan district during the second quarter of 2024.

 

General and administrative expenses dropped by 13.5% year-on-year (YoY), resulting from the company's efforts to enhance operational efficiency and control spending.

 

In addition, other income grew by SAR 3.92 million compared to the same period of the previous year.

 

Finance income leapt SAR 3.93 million in the third quarter of 2024, reflecting an improvement in the company's cash balance during the period.



Current Quarter Comparison (M)

Compared With The
Item Q3 2023 Q3 2024 Change‬
Revenues 297.83 290.59 (2.4 %)
Gross Income 113.08 96.05 (15.1 %)
Operating Income 79.30 74.77 (5.7 %)
Net Income 74.87 79.13 5.7 %
Average Shares 160.00 160.00 -
EPS (Riyals) 0.47 0.49 5.7 %

Q3 2024 net profit increased 6% to SAR 79.1 million, compared with SAR 74.87 million a year before, mainly due to the recognition of non-recurring gains from the sale of a land plot in Al Riyan district.

 

Sequentially, Q3 net profit fell 32.9% from SAR 117.87 million in Q2 2024.

 

Shareholders’ equity, no minority interest, increased to SAR 1.93 billion as of Sept. 30, 2024, from SAR 1.83 billion a year earlier.



Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2015 129.48 6.1 % 50.64 (7.4 %) 33.35 (7.3 %)
Q2 2015 137.36 12.9 % 63.56 18.4 % 37.91 6.0 %
Q3 2015 136.80 25.7 % 57.97 29.6 % 31.92 28.8 %
Q4 2015 157.70 21.8 % 68.06 21.6 % 40.39 17.0 %
Q1 2016 144.16 11.3 % 54.75 8.1 % 26.66 (20.0 %)
Q2 2016 138.08 0.5 % 57.56 (9.5 %) 27.63 (27.1 %)
Q3 2016 141.35 3.3 % 56.48 (2.6 %) 25.97 (18.6 %)
Q4 2016 182.65 15.8 % 73.35 7.8 % 18.58 (54.0 %)
Q1 2017 180.23 25.0 % 62.02 13.3 % 33.61 26.0 %
Q2 2017 176.71 28.0 % 58.16 1.0 % 32.88 19.0 %
Q3 2017 163.01 15.3 % 53.91 (4.5 %) 26.46 1.9 %
Q4 2017 188.69 3.3 % 65.08 (11.3 %) 33.93 82.6 %
Q1 2018 200.67 11.3 % 66.84 7.8 % 38.29 13.9 %
Q2 2018 214.49 21.4 % 53.28 (8.4 %) 28.26 (14.0 %)
Q3 2018 250.40 53.6 % 64.92 20.4 % 31.19 17.9 %
Q4 2018 228.04 20.9 % 65.32 0.4 % 29.53 (13.0 %)
Q1 2019 229.68 14.5 % 65.60 (1.9 %) 27.20 (29.0 %)
Q2 2019 253.83 18.3 % 71.08 33.4 % 30.95 9.5 %
Q3 2019 220.00 (12.1 %) 62.22 (4.2 %) 31.85 2.1 %
Q4 2019 270.55 18.6 % 83.72 28.2 % 39.60 34.1 %
Q1 2020 206.69 (10.0 %) 66.48 1.3 % 33.84 24.4 %
Q2 2020 244.30 (3.8 %) 90.81 27.7 % 53.15 71.8 %
Q3 2020 207.85 (5.5 %) 77.59 24.7 % 43.13 35.4 %
Q4 2020 230.47 (14.8 %) 68.48 (18.2 %) 19.33 (51.2 %)
Q1 2021 226.29 9.5 % 87.41 31.5 % 22.69 (32.9 %)
Q2 2021 223.90 (8.4 %) 79.96 (11.9 %) 33.63 (36.7 %)
Q3 2021 219.92 5.8 % 88.16 13.6 % 49.65 15.1 %
Q4 2021 281.78 22.3 % 108.53 58.5 % 19.27 (0.3 %)
Q1 2022 250.89 10.9 % 96.08 9.9 % 65.16 187.1 %
Q2 2022 281.94 25.9 % 109.09 36.4 % 70.02 108.2 %
Q3 2022 246.92 12.3 % 83.50 (5.3 %) 52.33 5.4 %
Q4 2022 342.64 21.6 % 131.00 20.7 % 75.30 290.7 %
Q1 2023 298.60 19.0 % 120.20 25.1 % 87.24 33.9 %
Q2 2023 276.66 (1.9 %) 93.42 (14.4 %) 87.53 25.0 %
Q3 2023 297.83 20.6 % 113.08 35.4 % 79.30 51.5 %
Q4 2023 303.68 (11.4 %) 106.45 (18.7 %) 59.10 (21.5 %)
Q1 2024 277.04 (7.2 %) 91.06 (24.2 %) 68.17 (21.9 %)
Q2 2024 263.46 (4.8 %) 85.74 (8.2 %) 65.93 (24.7 %)
Q3 2024 290.59 (2.4 %) 96.05 (15.1 %) 74.77 (5.7 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2015 41.01 19.8 % 0.26 9.80 31.21 0.20
Q2 2015 36.89 3.6 % 0.23 - 36.89 0.23
Q3 2015 27.69 8.9 % 0.17 - 27.69 0.17
Q4 2015 35.75 6.0 % 0.22 - 35.75 0.22
Q1 2016 21.14 (48.5 %) 0.13 - 21.14 0.13
Q2 2016 20.63 (44.1 %) 0.13 - 20.63 0.13
Q3 2016 20.73 (25.1 %) 0.13 - 20.73 0.13
Q4 2016 10.48 (70.7 %) 0.07 - 10.48 0.07
Q1 2017 27.97 32.3 % 0.17 - 27.97 0.17
Q2 2017 25.66 24.4 % 0.16 - 25.66 0.16
Q3 2017 23.59 13.8 % 0.15 - 23.59 0.15
Q4 2017 30.76 193.4 % 0.19 - 30.76 0.19
Q1 2018 30.88 10.4 % 0.19 - 30.88 0.19
Q2 2018 19.93 (22.3 %) 0.12 - 19.93 0.12
Q3 2018 21.31 (9.7 %) 0.13 - 21.31 0.13
Q4 2018 17.70 (42.5 %) 0.11 - 17.70 0.11
Q1 2019 24.17 (21.7 %) 0.15 - 24.17 0.15
Q2 2019 20.01 0.4 % 0.13 - 20.01 0.13
Q3 2019 21.17 (0.6 %) 0.13 - 21.17 0.13
Q4 2019 27.65 56.2 % 0.17 - 27.65 0.17
Q1 2020 24.94 3.2 % 0.16 - 24.94 0.16
Q2 2020 39.10 95.4 % 0.24 (4.99) 44.10 0.28
Q3 2020 36.57 72.7 % 0.23 - 36.57 0.23
Q4 2020 30.21 9.3 % 0.19 - 30.21 0.19
Q1 2021 35.54 42.5 % 0.22 - 35.54 0.22
Q2 2021 40.31 3.1 % 0.25 - 40.31 0.25
Q3 2021 3.58 (90.2 %) 0.02 (39.18) 42.76 0.27
Q4 2021 10.67 (64.7 %) 0.07 (9.69) 20.36 0.13
Q1 2022 61.96 74.4 % 0.39 - 61.96 0.39
Q2 2022 65.10 61.5 % 0.41 - 65.10 0.41
Q3 2022 57.11 1494.9 % 0.36 - 57.11 0.36
Q4 2022 73.17 586.0 % 0.46 - 73.17 0.46
Q1 2023 81.42 31.4 % 0.51 - 81.42 0.51
Q2 2023 81.85 25.7 % 0.51 - 81.85 0.51
Q3 2023 74.87 31.1 % 0.47 - 74.87 0.47
Q4 2023 65.19 (10.9 %) 0.41 6.46 58.73 0.37
Q1 2024 64.04 (21.3 %) 0.40 - 64.04 0.40
Q2 2024 117.87 44.0 % 0.74 55.27 62.60 0.39
Q3 2024 79.13 5.7 % 0.49 - 79.13 0.49

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2015 41.90 % 29.13 % 25.73 %
Q2 2015 42.55 % 28.68 % 25.19 %
Q3 2015 42.80 % 29.71 % 24.29 %
Q4 2015 42.80 % 31.06 % 23.43 %
Q1 2016 42.42 % 30.79 % 21.09 %
Q2 2016 41.32 % 30.64 % 18.24 %
Q3 2016 40.74 % 29.96 % 16.90 %
Q4 2016 39.94 % 25.11 % 12.04 %
Q1 2017 38.83 % 24.74 % 12.43 %
Q2 2017 36.71 % 24.09 % 12.46 %
Q3 2017 35.22 % 23.41 % 12.48 %
Q4 2017 33.75 % 25.39 % 15.24 %
Q1 2018 33.46 % 26.03 % 15.21 %
Q2 2018 31.18 % 25.45 % 13.71 %
Q3 2018 29.28 % 24.60 % 12.04 %
Q4 2018 28.02 % 24.14 % 10.05 %
Q1 2019 27.00 % 22.96 % 9.01 %
Q2 2019 27.75 % 22.56 % 8.65 %
Q3 2019 28.36 % 23.59 % 8.92 %
Q4 2019 29.01 % 23.82 % 9.55 %
Q1 2020 29.81 % 25.12 % 9.86 %
Q2 2020 32.21 % 27.70 % 12.52 %
Q3 2020 34.28 % 29.29 % 14.34 %
Q4 2020 34.11 % 28.49 % 15.27 %
Q1 2021 35.68 % 26.87 % 16.11 %
Q2 2021 35.28 % 25.58 % 16.05 %
Q3 2021 35.98 % 26.21 % 16.52 %
Q4 2021 38.24 % 24.65 % 14.60 %
Q1 2022 38.17 % 28.20 % 16.94 %
Q2 2022 38.84 % 29.87 % 18.38 %
Q3 2022 37.42 % 29.18 % 19.27 %
Q4 2022 37.39 % 32.36 % 22.93 %
Q1 2023 37.93 % 32.83 % 23.66 %
Q2 2023 36.75 % 34.47 % 25.20 %
Q3 2023 37.65 % 35.21 % 25.61 %
Q4 2023 36.81 % 35.12 % 25.23 %
Q1 2024 34.97 % 34.23 % 24.19 %
Q2 2024 34.70 % 32.59 % 22.79 %
Q3 2024 33.42 % 32.22 % 23.31 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2015 160.00 0.85 0.79 8.51
Q2 2015 160.00 0.86 0.80 8.27
Q3 2015 160.00 0.87 0.81 8.44
Q4 2015 160.00 0.88 0.82 8.66
Q1 2016 160.00 0.76 0.76 8.80
Q2 2016 160.00 0.66 0.66 8.37
Q3 2016 160.00 0.61 0.61 8.50
Q4 2016 160.00 0.46 0.46 8.56
Q1 2017 160.00 0.50 0.50 8.75
Q2 2017 160.00 0.53 0.53 8.89
Q3 2017 160.00 0.55 0.55 9.04
Q4 2017 160.00 0.67 0.67 8.67
Q1 2018 160.00 0.69 0.69 8.85
Q2 2018 160.00 0.66 0.66 8.98
Q3 2018 160.00 0.64 0.64 9.11
Q4 2018 160.00 0.56 0.56 9.24
Q1 2019 160.00 0.52 0.52 9.40
Q2 2019 160.00 0.52 0.52 9.51
Q3 2019 160.00 0.52 0.52 9.63
Q4 2019 160.00 0.58 0.58 9.79
Q1 2020 160.00 0.59 0.59 9.95
Q2 2020 160.00 0.71 0.74 10.21
Q3 2020 160.00 0.80 0.83 10.42
Q4 2020 160.00 0.82 0.85 10.62
Q1 2021 160.00 0.88 0.92 10.47
Q2 2021 160.00 0.89 0.89 10.73
Q3 2021 160.00 0.69 0.93 10.75
Q4 2021 160.00 0.56 0.87 10.37
Q1 2022 160.00 0.73 1.03 10.47
Q2 2022 160.00 0.88 1.19 10.56
Q3 2022 160.00 1.22 1.28 10.61
Q4 2022 160.00 1.61 1.61 10.69
Q1 2023 160.00 1.73 1.73 10.85
Q2 2023 160.00 1.83 1.83 11.01
Q3 2023 160.00 1.95 1.95 11.49
Q4 2023 160.00 1.90 1.86 11.53
Q1 2024 160.00 1.79 1.75 11.58
Q2 2024 160.00 2.01 1.63 11.97
Q3 2024 160.00 2.04 1.65 12.11

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2015 51.53 55.54 5.14
Q2 2015 54.13 58.30 5.61
Q3 2015 44.33 47.69 4.57
Q4 2015 41.63 44.73 4.24
Q1 2016 36.41 36.41 3.14
Q2 2016 45.86 45.86 3.60
Q3 2016 36.32 36.32 2.62
Q4 2016 68.31 68.31 3.64
Q1 2017 61.37 61.37 3.50
Q2 2017 58.51 58.51 3.49
Q3 2017 47.94 47.94 2.91
Q4 2017 41.25 41.25 3.21
Q1 2018 39.28 39.28 3.07
Q2 2018 37.68 37.68 2.76
Q3 2018 32.21 32.21 2.27
Q4 2018 33.55 33.55 2.04
Q1 2019 35.91 35.91 1.98
Q2 2019 30.97 30.97 1.69
Q3 2019 32.09 32.09 1.73
Q4 2019 27.16 27.16 1.61
Q1 2020 24.17 24.17 1.42
Q2 2020 23.40 22.41 1.62
Q3 2020 27.10 26.08 2.08
Q4 2020 26.52 25.54 2.04
Q1 2021 24.66 23.82 2.08
Q2 2021 33.33 33.33 2.77
Q3 2021 42.10 31.02 2.68
Q4 2021 53.70 34.82 2.92
Q1 2022 46.73 32.92 3.25
Q2 2022 41.33 30.71 3.46
Q3 2022 36.83 35.09 4.23
Q4 2022 24.93 24.93 3.75
Q1 2023 28.18 28.18 4.49
Q2 2023 33.19 33.19 5.53
Q3 2023 26.78 26.78 4.53
Q4 2023 31.33 32.01 5.15
Q1 2024 32.45 33.20 5.01
Q2 2024 22.44 27.76 3.77
Q3 2024 20.94 25.83 3.52

Business Segments (Million)

Compared With The
Period healthy services and other Pharmaceutical sales revenue - Pharmacies
Q1 2017 150.74 29.49
Q2 2017 147.45 29.26
Q3 2017 136.70 26.31
Q4 2017 155.95 32.73
Q1 2018 140.85 59.82
Q2 2018 143.64 71.39
Q3 2018 140.83 109.03
Q4 2018 154.81 73.23
Q1 2019 146.91 82.77
Q2 2019 151.05 102.78
Q3 2019 149.00 71.00
Q4 2019 177.92 92.62
Q1 2020 152.48 54.21
Q2 2020 192.83 51.46
Q3 2020 47.34 35.26
Q4 2020 185.43 45.04
Q1 2021 168.82 57.47
Q2 2021 163.87 60.02
Q3 2021 180.27 39.64
Q4 2021 224.93 56.85
Q1 2022 195.39 55.50
Q2 2022 232.25 49.69
Q3 2022 201.88 45.04
Q4 2022 241.22 101.43
Q1 2023 238.75 59.85
Q2 2023 217.85 58.80
Q3 2023 242.76 55.06
Q4 2023 251.51 52.17
Q1 2024 227.43 49.61
Q2 2024 217.02 46.44
Q3 2024 239.71 50.88

Analysts Estimates (Million)

Item Q3 2024 (e) Q3 2024 (a) Change‬
Average 68.70 79.13 15.18 %

Estimates vs Actual (Million)

Item Q3 2024 (e) Q3 2024 (a) Change
United Securities Company 84.00 79.13 (5.8) %
OSOOL AND BAKHEET 73.87 79.13 7.1 %
U-Capital 70.90 79.13 11.6 %
Al Rajhi Capital 65.00 79.13 21.7 %
Hermes 65.00 79.13 21.7 %
AlJazira Capital 63.40 79.13 24.8 %
SNB Capital 58.70 79.13 34.8 %

Current
Market Cap (M Riyal) 6,312.00
Enterprise Value (EV) (M) 6,073.92
Shares Outstanding ((M)) 160.00
EPS ( Riyal) (TTM) 2.04
Book Value (BV) ( Riyal) 12.11
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 23.86
P/E (TTM) 19.35
Price/book 3.26
Return on Average Assets (%) (TTM) 12.5
Return on Average Equity (%) (TTM) 17.3

Share Price

39.55
0.00 0.00 %

Al Hammadi Holding (ALHAMMADI)


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