Ash-Sharqiyah Development widens net loss to SAR 2.7 mln in H1 2021

Ash-Sharqiyah Development widens net loss to SAR 2.7 mln in H1 2021

18/08/2021 Argaam Exclusive

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Ash-Sharqiyah Development Co. widened net loss after Zakat and tax by more than two-fold to SAR 2.7 million in H1 2021, from SAR 1.01 million in year-earlier period, driven by recording the full dues of the CEO, in addition to the reclassification of some expenses.



Financials (M)

Item 6m 2020 6m 2021 Change‬
Gross Income (0.20) (0.26) (28.1 %)
Operating Income (1.03) (3.34) (225.0 %)
Net Income (1.01) (2.74) (170.6 %)
Average Shares 19.65 19.65 -
EPS (Riyals) (0.05) (0.14) (170.6 %)

The company widened net loss after Zakat and tax to SAR 2.43 million in Q2 2021, from SAR 504,345 in year-earlier period, due to recording the CEO’s dues for the previous periods during the current quarter, in addition to the reclassification of some expenses.

 

On a sequential basis, losses widened to SAR 2.43 million, from SAR 313,942 in Q1 2021.



Current Quarter Comparison (M)

Compared With The
Item Q2 2020 Q2 2021 Change‬
Gross Income (0.10) (0.13) (28.4 %)
Operating Income (0.53) (2.82) (430.8 %)
Net Income (0.50) (2.43) (382.1 %)
Average Shares 19.65 19.65 -
EPS (Riyals) (0.03) (0.12) (382.1 %)

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Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2012 7.79 (13.9 %) (2.51) (474.0 %) (3.45) (458.9 %)
Q2 2012 7.32 (26.7 %) (0.86) (680.4 %) (2.41) (120.4 %)
Q3 2012 4.72 6.3 % (0.92) 33.5 % (1.94) 22.7 %
Q4 2012 0.72 (87.3 %) 0.69 132.1 % (1.05) 77.3 %
Q1 2013 5.22 (33.0 %) (1.79) 28.5 % (2.57) 25.7 %
Q2 2013 4.81 (34.3 %) (0.02) 97.6 % (1.29) 46.7 %
Q3 2013 3.85 (18.4 %) (0.05) 94.4 % (1.52) 21.8 %
Q4 2013 3.76 419.1 % (0.82) (219.0 %) (2.42) (130.9 %)
Q1 2014 4.25 (18.5 %) (0.26) 85.7 % (1.54) 40.1 %
Q2 2014 4.36 (9.3 %) (0.38) (1,709.5 %) (1.43) (10.9 %)
Q3 2014 4.00 3.9 % 0.36 798.0 % (0.93) 38.7 %
Q4 2014 6.80 81.0 % 1.11 236.7 % (0.41) 82.9 %
Q1 2015 5.38 26.4 % 1.62 732.4 % 0.06 103.8 %
Q2 2015 6.06 38.9 % 2.70 809.5 % 0.51 135.6 %
Q3 2015 6.15 53.6 % 2.43 582.3 % 0.56 160.2 %
Q4 2015 5.70 (16.3 %) 1.66 49.0 % 0.57 237.1 %
Q1 2016 1.06 (80.2 %) (2.86) (276.8 %) (4.21) (7242.4 %)
Q2 2016 2.69 (55.6 %) (1.56) (158.0 %) (2.59) (610.7 %)
Q3 2016 2.30 (62.6 %) (1.40) (157.5 %) (2.41) (529.8 %)
Q4 2016 0.48 (91.5 %) (5.24) (415.8 %) (6.42) (1235.4 %)
Q1 2017 0.45 (57.7 %) (2.04) 28.8 % (3.08) 26.8 %
Q2 2017 0.40 (85.0 %) (2.04) (30.5 %) (2.89) (11.8 %)
Q3 2017 0.22 (90.6 %) (0.99) 29.2 % (2.13) 11.5 %
Q4 2017 0.45 (8.1 %) (0.94) 82.0 % (2.65) 58.7 %
Q1 2018 0.20 (54.7 %) (0.25) 87.5 % (1.84) 40.4 %
Q2 2018 0.13 (66.8 %) (0.25) 87.8 % (1.81) 37.6 %
Q3 2018 - - (0.28) 72.2 % (2.22) (4.0 %)
Q4 2018 - - (0.23) 75.9 % (1.34) 49.5 %
Q1 2019 - - (0.14) 44.5 % (0.71) 61.4 %
Q2 2019 - - (0.21) 17.3 % (0.72) 60.0 %
Q3 2019 - - (0.11) 60.4 % (0.62) 72.0 %
Q4 2019 - - (0.48) (111.5 %) (2.04) (53.0 %)
Q1 2020 - - (0.13) 7.1 % (0.50) 30.1 %
Q2 2020 - - (0.10) 50.5 % (0.53) 26.3 %
Q3 2020 - - (0.10) 5.5 % (0.74) (18.9 %)
Q4 2020 - - 0.31 163.8 % (0.83) 59.4 %
Q1 2021 - - (0.13) 1.5 % (0.52) (4.2 %)
Q2 2021 - - (0.13) (28.4 %) (2.82) (430.8 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2012 2.59 848.4 % 0.13 - 2.59 0.13
Q2 2012 (2.39) (122.7 %) (0.12) - (2.39) (0.12)
Q3 2012 (1.85) 24.6 % (0.09) - (1.85) (0.09)
Q4 2012 (1.71) 71.2 % (0.09) 5.29 (7.00) (0.36)
Q1 2013 (1.76) (168.0 %) (0.09) - (1.76) (0.09)
Q2 2013 (1.35) 43.5 % (0.07) (0.07) (1.28) (0.07)
Q3 2013 (1.52) 18.2 % (0.08) - (1.52) (0.08)
Q4 2013 (0.94) 44.9 % (0.05) (0.69) (0.26) (0.01)
Q1 2014 (1.53) 12.9 % (0.08) - (1.53) (0.08)
Q2 2014 (0.96) 29.2 % (0.05) - (0.96) (0.05)
Q3 2014 (0.20) 87.1 % (0.01) 0.19 (0.39) (0.02)
Q4 2014 0.22 122.8 % 0.01 0.53 (0.31) (0.02)
Q1 2015 0.67 144.0 % 0.03 0.56 0.11 0.01
Q2 2015 7.00 832.3 % 0.36 6.32 0.69 0.03
Q3 2015 0.56 386.7 % 0.03 - 0.56 0.03
Q4 2015 0.77 258.6 % 0.04 0.17 0.60 0.03
Q1 2016 (4.08) (704.9 %) (0.21) - (4.08) (0.21)
Q2 2016 (1.99) (128.4 %) (0.10) - (1.99) (0.10)
Q3 2016 (5.70) (1113.9 %) (0.29) (3.98) (1.72) (0.09)
Q4 2016 (5.70) (839.0 %) (0.29) - (5.70) (0.29)
Q1 2017 (3.60) 11.7 % (0.18) - (3.60) (0.18)
Q2 2017 (3.87) (94.8 %) (0.20) - (3.87) (0.20)
Q3 2017 (4.66) 18.1 % (0.24) - (4.66) (0.24)
Q4 2017 (4.67) 18.0 % (0.24) (7.40) 2.73 0.14
Q1 2018 (1.86) 48.3 % (0.09) - (1.86) (0.09)
Q2 2018 (1.66) 57.2 % (0.08) - (1.66) (0.08)
Q3 2018 (2.27) 51.4 % (0.12) - (2.27) (0.12)
Q4 2018 (0.93) 80.1 % (0.05) - (0.93) (0.05)
Q1 2019 (0.73) 60.8 % (0.04) - (0.73) (0.04)
Q2 2019 (0.72) 56.6 % (0.04) - (0.72) (0.04)
Q3 2019 (0.89) 60.7 % (0.05) - (0.89) (0.05)
Q4 2019 (65.13) (6,903.7 %) (3.31) (63.37) (1.76) (0.09)
Q1 2020 (0.51) 30.0 % (0.03) - (0.51) (0.03)
Q2 2020 (0.50) 29.9 % (0.03) - (0.50) (0.03)
Q3 2020 (0.42) 52.7 % (0.02) - (0.42) (0.02)
Q4 2020 (0.77) 98.8 % (0.04) - (0.77) (0.04)
Q1 2021 (0.31) 38.4 % (0.02) - (0.31) (0.02)
Q2 2021 (2.43) (382.1 %) (0.12) - (2.43) (0.12)

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2012 (21.01 %) (3.09 %) (24.67 %)
Q2 2012 (27.22 %) (12.99 %) (32.49 %)
Q3 2012 (25.11 %) (7.97 %) (29.76 %)
Q4 2012 (17.51 %) 3.30 % (42.11 %)
Q1 2013 (16.04 %) 8.30 % (72.32 %)
Q2 2013 (13.22 %) 10.41 % (76.86 %)
Q3 2013 (8.07 %) 19.66 % (79.13 %)
Q4 2013 (15.19 %) 8.06 % (27.29 %)
Q1 2014 (6.86 %) 13.52 % (27.51 %)
Q2 2014 (9.26 %) 16.90 % (26.28 %)
Q3 2014 (6.69 %) 6.58 % (19.15 %)
Q4 2014 4.29 % 19.21 % (16.44 %)
Q1 2015 13.19 % 24.91 % (7.55 %)
Q2 2015 26.01 % 31.22 % 0.41 %
Q3 2015 32.23 % 39.77 % 4.28 %
Q4 2015 36.11 % 43.07 % 8.40 %
Q1 2016 20.69 % 28.17 % (11.77 %)
Q2 2016 (2.16 %) 7.03 % (31.44 %)
Q3 2016 (35.43 %) (10.38 %) (61.16 %)
Q4 2016 (169.28 %) (186.32 %) (206.23 %)
Q1 2017 (172.90 %) (192.99 %) (219.53 %)
Q2 2017 (294.61 %) (325.48 %) (409.15 %)
Q3 2017 (663.45 %) (870.98 %) (1147.23 %)
Q4 2017 (396.63 %) (490.63 %) (620.46 %)
Q1 2018 (333.02 %) (537.67 %) (603.70 %)
Q2 2018 (243.64 %) (599.10 %) (545.65 %)
Q3 2018 (219.67 %) (855.43 %) (390.04 %)
Q4 2018 (297.34 %) (1700.30 %) (1986.39 %)
Q1 2019 (665.67 %) (3543.28 %) (4166.42 %)
Q2 2019 - - -
Q3 2019 - - -
Q4 2019 - - -
Q1 2020 - - -
Q2 2020 - - -
Q3 2020 - - -
Q4 2020 - - -
Q1 2021 - - -
Q2 2021 - - -


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2012 19.65 (0.35) (0.35) 3.71
Q2 2012 19.65 (0.42) (0.42) 3.59
Q3 2012 19.65 (0.39) (0.39) 3.50
Q4 2012 19.65 (0.17) (0.44) 3.41
Q1 2013 19.65 (0.39) (0.66) 3.32
Q2 2013 19.65 (0.34) (0.61) 3.25
Q3 2013 19.65 (0.32) (0.59) 3.17
Q4 2013 19.65 (0.28) (0.24) 3.12
Q1 2014 19.65 (0.27) (0.23) 3.05
Q2 2014 19.65 (0.25) (0.22) 3.00
Q3 2014 19.65 (0.18) (0.16) 2.99
Q4 2014 19.65 (0.13) (0.16) 3.00
Q1 2015 19.65 (0.01) (0.08) 3.03
Q2 2015 19.65 0.39 0.00 3.39
Q3 2015 19.65 0.43 0.05 3.42
Q4 2015 19.65 0.46 0.10 3.45
Q1 2016 19.65 0.22 (0.11) 3.28
Q2 2016 19.65 (0.24) (0.25) 1.53
Q3 2016 19.65 (0.56) (0.37) 1.45
Q4 2016 19.65 (0.89) (0.69) 11.99
Q1 2017 19.65 (0.86) (0.66) 11.83
Q2 2017 19.65 (0.96) (0.76) 11.63
Q3 2017 19.65 (0.91) (0.91) 11.39
Q4 2017 19.65 (0.85) (0.48) 11.17
Q1 2018 19.65 (0.77) (0.39) 11.07
Q2 2018 19.65 (0.65) (0.28) 10.99
Q3 2018 19.65 (0.53) (0.16) 10.87
Q4 2018 19.65 (0.34) (0.34) 10.83
Q1 2019 19.65 (0.28) (0.28) 10.79
Q2 2019 19.65 (0.24) (0.24) 10.75
Q3 2019 19.65 (0.17) (0.17) 10.71
Q4 2019 19.65 (3.43) (0.21) 7.39
Q1 2020 19.65 (3.42) (0.20) 7.37
Q2 2020 19.65 (3.41) (0.19) 7.34
Q3 2020 19.65 (3.39) (0.16) 7.32
Q4 2020 19.65 (0.11) (0.11) 7.28
Q1 2021 19.65 (0.10) (0.10) 7.26
Q2 2021 19.65 (0.20) (0.20) 7.14

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2012 NEG NEG 8.91
Q2 2012 NEG NEG 7.01
Q3 2012 NEG NEG 8.55
Q4 2012 NEG NEG 9.92
Q1 2013 NEG NEG 9.84
Q2 2013 NEG NEG 10.58
Q3 2013 NEG NEG 11.99
Q4 2013 NEG NEG 10.31
Q1 2014 NEG NEG 12.20
Q2 2014 NEG NEG 15.45
Q3 2014 NEG NEG 21.44
Q4 2014 NEG NEG 14.15
Q1 2015 NEG NEG 13.54
Q2 2015 More than 100 More than 100 13.72
Q3 2015 75.71 More than 100 9.53
Q4 2015 70.10 More than 100 9.30
Q1 2016 More than 100 NEG 7.24
Q2 2016 NEG NEG 14.48
Q3 2016 NEG NEG 10.86
Q4 2016 NEG NEG 2.15
Q1 2017 NEG NEG 1.84
Q2 2017 NEG NEG 1.86
Q3 2017 NEG NEG 2.57
Q4 2017 NEG NEG 2.40
Q1 2018 NEG NEG 2.34
Q2 2018 NEG NEG 2.97
Q3 2018 NEG NEG 2.55
Q4 2018 NEG NEG 2.80
Q1 2019 NEG NEG 2.65
Q2 2019 NEG NEG 2.47
Q3 2019 NEG NEG 2.32
Q4 2019 NEG NEG 4.05
Q1 2020 NEG NEG 4.11
Q2 2020 NEG NEG 5.32
Q3 2020 NEG NEG 7.22
Q4 2020 NEG NEG 7.59
Q1 2021 NEG NEG 8.75
Q2 2021 NEG NEG 8.54


Financial Ratios
Current
Market Cap (M Riyal) 575.40
Enterprise Value (EV) (M) 397.85
Shares Outstanding ((M)) 30.00
EPS ( Riyal) (TTM) 0.35
Book Value (BV) ( Riyal) 12.49
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) More than 100
P/E (TTM) More than 100
Price/book 1.54
Return on Average Assets (%) (TTM) 2.5
Return on Average Equity (%) (TTM) 2.9
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Share Price

Ash-Sharqiyah Development Co.
19.18
(0.12) (0.62 %)

Ash-Sharqiyah Development Co. (SHARQIYAH DEV)

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