GACO widens losses to SAR 1.1 mln in 9M 2023; Q3 at SAR 2.5 mln

GACO widens losses to SAR 1.1 mln in 9M 2023; Q3 at SAR 2.5 mln

09/11/2023 Argaam Exclusive

View other reports

Al Gassim Investment Holding Co. (GACO) reported a net loss of SAR 1.1 million for the first nine months of 2023, up from SAR 895,000 a year earlier.



Financials (M)

Item 9m 2022 9m 2023 Change‬
Revenues 8.20 7.87 (4.1 %)
Gross Income 6.90 6.76 (2.1 %)
Operating Income (0.62) 0.34 154.2 %
Net Income (0.90) (1.05) (17.3 %)
Average Shares 30.00 30.00 -
EPS (Riyals) (0.03) (0.03) (17.3 %)

The losses deepened on higher Zakat provision, despite the decrease in general and administrative expenses and provision for expected credit losses, as well as the increase in other revenues.



Current Quarter Comparison (M)

Compared With The
Item Q3 2022 Q3 2023 Change‬
Revenues 2.87 2.66 (7.3 %)
Gross Income 2.45 2.29 (6.3 %)
Operating Income 0.24 0.21 (13.1 %)
Net Income (0.01) (2.45) (18,035.6 %)
Average Shares 30.00 30.00 -
EPS (Riyals) 0.00 (0.08) (18,035.6 %)

The company expanded its losses in Q3 2023 to SAR 2.5 million from SAR 10,000 in Q3 2022, mainly due to the increase in the value of the zakat provision made during the period.

 

Sequentially, GACO swung to losses against a profit of SAR 890,000 in Q2 2023.

 

Total shareholders’ equity, no minority interest, fell to SAR 302.11 million as of Sept. 30, 2023, from SAR 295 million a year earlier.

View More Financial Results

 


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2014 8.94 (54.4 %) (3.26) (262.6 %) (7.22) (85.8 %)
Q2 2014 20.06 (1.1 %) 3.00 (7.4 %) 0.28 28.4 %
Q3 2014 14.94 (21.2 %) 0.11 115.9 % (2.16) 38.2 %
Q4 2014 9.29 (16.5 %) (1.19) 60.5 % (3.00) 56.3 %
Q1 2015 8.14 (8.9 %) (0.78) 76.1 % (2.80) 61.2 %
Q2 2015 14.13 (29.6 %) 2.23 (25.8 %) (0.14) (149.6 %)
Q3 2015 12.83 (14.1 %) (1.76) (1660.2 %) (4.18) (93.7 %)
Q4 2015 11.44 23.2 % (0.97) 18.8 % (4.45) (48.2 %)
Q1 2016 8.08 (0.7 %) 0.57 173.2 % (1.95) 30.2 %
Q2 2016 5.57 (60.6 %) 3.32 49.0 % 1.33 1069.3 %
Q3 2016 4.14 (67.7 %) 2.94 266.6 % 1.27 130.4 %
Q4 2016 4.34 (62.0 %) 2.85 394.2 % (0.24) 94.6 %
Q1 2017 4.83 (40.2 %) 2.46 332.1 % 0.82 142.1 %
Q2 2017 4.37 (21.6 %) 2.48 (25.2 %) 0.58 (56.5 %)
Q3 2017 4.65 12.2 % 2.56 (12.8 %) 1.17 (7.7 %)
Q4 2017 4.02 (7.6 %) 2.46 (13.8 %) 0.93 485.5 %
Q1 2018 2.97 (38.5 %) 2.53 2.7 % 1.31 59.4 %
Q2 2018 2.97 (32.0 %) 2.55 2.9 % 1.46 152.9 %
Q3 2018 3.24 (30.3 %) 2.80 9.5 % 1.87 59.6 %
Q4 2018 2.97 (26.0 %) 2.54 3.5 % (10.79) (1261.2 %)
Q1 2019 2.92 (1.6 %) 2.53 0.0 % 9.47 622.9 %
Q2 2019 2.92 (1.6 %) 2.46 (3.8 %) 1.50 2.3 %
Q3 2019 3.22 (0.4 %) 2.77 (1.2 %) 1.39 (25.5 %)
Q4 2019 2.92 (1.6 %) 2.54 (0.1 %) (42.04) (289.7 %)
Q1 2020 2.87 (1.7 %) 2.48 (1.8 %) 0.87 (90.8 %)
Q2 2020 2.87 (1.7 %) 2.46 0.1 % 1.40 (6.7 %)
Q3 2020 2.96 (8.3 %) 2.56 (7.6 %) 1.57 12.6 %
Q4 2020 2.96 1.1 % 2.41 (5.1 %) (7.70) 81.7 %
Q1 2021 2.82 (2.0 %) 2.36 (4.8 %) (0.25) (128.9 %)
Q2 2021 2.82 (1.9 %) 2.38 (3.2 %) (0.19) (113.6 %)
Q3 2021 2.92 (1.3 %) 2.48 (3.1 %) 0.38 (75.8 %)
Q4 2021 2.82 (4.6 %) 2.36 (2.1 %) 7.72 200.2 %
Q1 2022 2.66 (5.4 %) 2.22 (5.9 %) (0.72) (186.9 %)
Q2 2022 2.66 (5.5 %) 2.24 (6.0 %) (0.14) 24.7 %
Q3 2022 2.87 (1.6 %) 2.45 (1.3 %) 0.24 (37.1 %)
Q4 2022 2.66 (5.5 %) 2.24 (5.1 %) 15.38 99.3 %
Q1 2023 2.60 (2.3 %) 2.24 0.7 % (0.08) 89.2 %
Q2 2023 2.60 (2.3 %) 2.23 (0.2 %) 0.44 409.9 %
Q3 2023 2.66 (7.3 %) 2.29 (6.3 %) 0.21 (13.1 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2014 (7.34) (131.4 %) (0.24) - (7.34) (0.24)
Q2 2014 2.14 4446.8 % 0.07 - 2.14 0.07
Q3 2014 (1.68) 42.3 % (0.06) - (1.68) (0.06)
Q4 2014 (5.04) 19.4 % (0.17) - (5.04) (0.17)
Q1 2015 (2.98) 59.5 % (0.10) - (2.98) (0.10)
Q2 2015 0.47 (78.2 %) 0.02 - 0.47 0.02
Q3 2015 (4.18) (149.6 %) (0.14) - (4.18) (0.14)
Q4 2015 7.71 253.0 % 0.26 13.80 (6.09) (0.20)
Q1 2016 95.31 3301.5 % 3.18 98.55 (3.24) (0.11)
Q2 2016 3.03 551.6 % 0.10 1.83 1.20 0.04
Q3 2016 1.40 133.4 % 0.05 - 1.40 0.05
Q4 2016 59.07 666.2 % 1.97 0.06 59.01 1.97
Q1 2017 0.21 (99.8 %) 0.01 - 0.21 0.01
Q2 2017 0.71 (76.7 %) 0.02 - 0.71 0.02
Q3 2017 1.48 5.6 % 0.05 - 1.48 0.05
Q4 2017 0.96 (98.4 %) 0.03 - 0.96 0.03
Q1 2018 0.29 42.7 % 0.01 - 0.29 0.01
Q2 2018 0.98 37.9 % 0.03 - 0.98 0.03
Q3 2018 1.25 (15.3 %) 0.04 - 1.25 0.04
Q4 2018 (10.23) (1170.0 %) (0.34) - (10.23) (0.34)
Q1 2019 9.36 3082.7 % 0.31 - 9.36 0.31
Q2 2019 1.46 49.5 % 0.05 - 1.46 0.05
Q3 2019 4.71 277.3 % 0.16 - 4.71 0.16
Q4 2019 (30.18) (195.0 %) (1.01) 2.58 (32.75) (1.09)
Q1 2020 0.71 (92.4 %) 0.02 - 0.71 0.02
Q2 2020 0.54 (63.3 %) 0.02 - 0.54 0.02
Q3 2020 (0.28) (106.0 %) (0.01) - (0.28) (0.01)
Q4 2020 (6.09) 79.8 % (0.20) - (6.09) (0.20)
Q1 2021 (0.02) (103.4 %) 0.00 - (0.02) 0.00
Q2 2021 (0.29) (154.8 %) (0.01) - (0.29) (0.01)
Q3 2021 (0.05) 81.6 % 0.00 - (0.05) 0.00
Q4 2021 1.46 124.0 % 0.05 - 1.46 0.05
Q1 2022 (0.52) (2,060.8 %) (0.02) - (0.52) (0.02)
Q2 2022 (0.36) (23.9 %) (0.01) - (0.36) (0.01)
Q3 2022 (0.01) 74.0 % 0.00 - (0.01) 0.00
Q4 2022 7.94 444.5 % 0.26 (6.42) 14.37 0.48
Q1 2023 0.51 198.1 % 0.02 - 0.51 0.02
Q2 2023 0.89 345.2 % 0.03 - 0.89 0.03
Q3 2023 (2.45) (18,035.6 %) (0.08) - (2.45) (0.08)

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2014 (6.33 %) 16.52 % (27.55 %)
Q2 2014 (6.76 %) 25.77 % (24.11 %)
Q3 2014 (5.76 %) 10.24 % (23.65 %)
Q4 2014 (2.52 %) 17.02 % (22.40 %)
Q1 2015 2.18 % 24.87 % (14.41 %)
Q2 2015 0.79 % 26.29 % (19.84 %)
Q3 2015 (3.40 %) 22.35 % (26.44 %)
Q4 2015 (2.76 %) 16.99 % (27.48 %)
Q1 2016 0.14 % 13.75 % (28.08 %)
Q2 2016 3.05 % 10.46 % (32.48 %)
Q3 2016 20.03 % 18.22 % (23.05 %)
Q4 2016 43.69 % 26.23 % 263.65 %
Q1 2017 61.23 % 35.02 % 327.27 %
Q2 2017 60.66 % 30.70 % 346.70 %
Q3 2017 56.90 % 27.81 % 337.49 %
Q4 2017 55.75 % 34.02 % 18.72 %
Q1 2018 62.64 % 41.04 % 21.45 %
Q2 2018 69.12 % 50.94 % 25.33 %
Q3 2018 78.32 % 61.57 % 26.32 %
Q4 2018 85.74 % (31.67 %) (63.43 %)
Q1 2019 86.08 % 33.51 % 11.17 %
Q2 2019 85.63 % 31.83 % 15.22 %
Q3 2019 85.45 % 25.77 % 43.99 %
Q4 2019 85.77 % (234.69 %) (143.60 %)
Q1 2020 85.75 % (307.67 %) (216.59 %)
Q2 2020 86.14 % (305.63 %) (225.28 %)
Q3 2020 86.32 % (308.93 %) (273.44 %)
Q4 2020 84.97 % (11.25 %) (43.98 %)
Q1 2021 84.36 % (18.78 %) (50.53 %)
Q2 2021 84.07 % (34.67 %) (57.94 %)
Q3 2021 83.65 % (45.07 %) (56.13 %)
Q4 2021 84.22 % 89.96 % 9.58 %
Q1 2022 84.11 % 86.91 % 5.31 %
Q2 2022 84.00 % 88.40 % 4.75 %
Q3 2022 84.07 % 87.17 % 5.12 %
Q4 2022 84.16 % 158.64 % 124.06 %
Q1 2023 84.79 % 164.86 % 134.28 %
Q2 2023 85.24 % 170.53 % 146.72 %
Q3 2023 85.48 % 173.04 % 126.52 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2014 30.00 (0.55) (0.54) 11.26
Q2 2014 30.00 (0.48) (0.48) 11.33
Q3 2014 30.00 (0.44) (0.43) 11.27
Q4 2014 30.00 (0.40) (0.40) 11.00
Q1 2015 30.00 (0.25) (0.25) 10.90
Q2 2015 30.00 (0.31) (0.31) 10.92
Q3 2015 30.00 (0.39) (0.39) 10.78
Q4 2015 30.00 0.03 (0.43) 11.03
Q1 2016 30.00 3.31 (0.44) 11.86
Q2 2016 30.00 3.40 (0.41) 11.90
Q3 2016 30.00 3.58 (0.22) 11.91
Q4 2016 30.00 5.29 1.95 10.72
Q1 2017 30.00 2.12 2.06 10.72
Q2 2017 30.00 2.05 2.04 10.74
Q3 2017 30.00 2.05 2.05 10.54
Q4 2017 30.00 0.11 0.11 10.58
Q1 2018 30.00 0.11 0.11 10.59
Q2 2018 30.00 0.12 0.12 10.62
Q3 2018 30.00 0.12 0.12 10.66
Q4 2018 30.00 (0.26) (0.26) 10.33
Q1 2019 30.00 0.05 0.05 10.64
Q2 2019 30.00 0.06 0.06 10.69
Q3 2019 30.00 0.18 0.18 10.85
Q4 2019 30.00 (0.49) (0.57) 9.84
Q1 2020 30.00 (0.78) (0.86) 9.86
Q2 2020 30.00 (0.81) (0.89) 9.90
Q3 2020 30.00 (0.97) (1.06) 9.90
Q4 2020 30.00 (0.17) (0.17) 9.62
Q1 2021 30.00 (0.20) (0.20) 9.62
Q2 2021 30.00 (0.22) (0.22) 9.61
Q3 2021 30.00 (0.22) (0.22) 9.61
Q4 2021 30.00 0.04 0.04 9.66
Q1 2022 30.00 0.02 0.02 9.65
Q2 2022 30.00 0.02 0.02 9.83
Q3 2022 30.00 0.02 0.02 9.83
Q4 2022 30.00 0.23 0.45 10.11
Q1 2023 30.00 0.27 0.48 10.12
Q2 2023 30.00 0.31 0.53 10.15
Q3 2023 30.00 0.23 0.44 10.07

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2014 NEG NEG 2.52
Q2 2014 NEG NEG 2.28
Q3 2014 NEG NEG 2.55
Q4 2014 NEG NEG 1.76
Q1 2015 NEG NEG 2.11
Q2 2015 NEG NEG 2.25
Q3 2015 NEG NEG 1.81
Q4 2015 More than 100 NEG 2.03
Q1 2016 5.05 NEG 1.41
Q2 2016 4.88 NEG 1.39
Q3 2016 3.72 NEG 1.12
Q4 2016 2.95 8.02 1.46
Q1 2017 6.53 6.73 1.29
Q2 2017 6.43 6.43 1.22
Q3 2017 6.55 6.55 1.27
Q4 2017 More than 100 More than 100 1.21
Q1 2018 More than 100 More than 100 1.21
Q2 2018 99.73 99.73 1.16
Q3 2018 91.36 91.36 0.99
Q4 2018 NEG NEG 1.05
Q1 2019 More than 100 More than 100 1.12
Q2 2019 More than 100 More than 100 1.12
Q3 2019 59.22 59.22 0.96
Q4 2019 NEG NEG 1.13
Q1 2020 NEG NEG 0.92
Q2 2020 NEG NEG 1.32
Q3 2020 NEG NEG 2.11
Q4 2020 NEG NEG 2.01
Q1 2021 NEG NEG 2.90
Q2 2021 NEG NEG 3.36
Q3 2021 NEG NEG 3.10
Q4 2021 More than 100 More than 100 2.45
Q1 2022 More than 100 More than 100 2.35
Q2 2022 More than 100 More than 100 2.17
Q3 2022 More than 100 More than 100 2.44
Q4 2022 80.01 41.86 1.86
Q1 2023 96.57 53.79 2.57
Q2 2023 80.26 47.53 2.46
Q3 2023 81.89 42.39 1.87

Business Segments (Million)

Compared With The
Period Agri Sector- Shri Project Agri Sector- Jouf Project Poultry Project Dates Factory Dairy sector Agricultural Activity
Q1 2013 11.09 2.87 2.50 3.17 - -
Q2 2013 10.14 4.29 2.50 3.34 - -
Q3 2013 10.67 4.13 2.50 1.67 - -
Q4 2013 5.75 1.28 2.50 1.60 - -
Q1 2014 3.60 0.70 2.50 2.14 - -
Q2 2014 8.49 4.72 2.50 4.35 - -
Q3 2014 7.03 4.23 2.50 1.18 - -
Q4 2014 2.69 2.34 2.50 1.75 - -
Q1 2015 2.33 0.74 2.50 2.57 - -
Q2 2015 5.54 3.33 2.50 2.76 - -
Q3 2015 7.24 2.10 2.50 0.99 - -
Q4 2015 1.47 5.23 3.89 0.72 - -
Q1 2016 3.45 0.48 2.50 1.72 - -
Q2 2016 1.24 - 2.50 2.04 - -
Q3 2016 1.60 - 1.60 0.65 - -
Q4 2016 1.39 - 1.21 0.84 - -
Q1 2017 1.30 - 1.72 1.81 - -
Q2 2017 1.29 - 1.72 1.35 - -
Q3 2017 1.53 - 1.72 1.40 - -
Q4 2017 1.30 - 1.72 1.00 - -
Q2 2018 1.29 - 1.69 0.91 - -
Q3 2018 1.55 - 1.69 0.08 - -
Q4 2018 1.29 - 1.69 - - -
Q1 2019 1.28 - 1.65 - - -
Q2 2019 1.28 - 1.65 - - -
Q3 2019 1.58 - 1.65 - - -
Q4 2019 1.28 - 1.65 - - -
Q1 2020 1.27 - 1.60 - - -


Financial Ratios
Current
Market Cap (M Riyal) 566.40
Enterprise Value (EV) (M) 517.15
Shares Outstanding ((M)) 30.00
EPS ( Riyal) (TTM) (0.34)
Book Value (BV) ( Riyal) 9.72
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 1.94
Return on Average Assets (%) (TTM) (2.39 )
Return on Average Equity (%) (TTM) (3.48 )
more

Share Price

Al Gassim Investment Holding Co.
18.88
0.26 1.40 %

Al Gassim Investment Holding Co. (GACO)

More

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.