Al-Jouf Agricultural posts SAR 6.5 mln profit in Q1 2019

Al-Jouf Agricultural posts SAR 6.5 mln profit in Q1 2019

05/05/2019 Argaam Exclusive

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Al-Jouf Agricultural Development Co. posted a net profit after zakat and tax of SAR 6.5 million for Q1 2019 against a net loss of SAR 23.9 million a year earlier, driven by higher sales.

 

In addition, the company’s profit was lifted by a decline in the cost of sales, general and administrative expenses.

When compared to the previous quarter, net profit after zakat and tax fell 41 percent on a drop in sales, and higher general and administrative expenses.



Current Quarter Comparison (M)

Compared With The
Item Q1 2018 Q1 2019 Change‬
Revenues 41.64 49.64 19.2 %
Gross Income (14.92) 16.00 207.2 %
Operating Income (23.50) 7.52 132.0 %
Net Income (23.96) 6.53 127.3 %
Average Shares 30.00 30.00 -
EPS (Riyals) (0.80) 0.22 127.3 %


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2010 33.82 (34.9 %) 12.87 (35.5 %) 6.48 (58.7 %)
Q2 2010 35.70 (9.2 %) 17.50 (6.8 %) 10.93 9.3 %
Q3 2010 84.42 5.7 % 36.70 8.2 % 23.98 23.5 %
Q4 2010 92.95 (1.9 %) 35.53 13.4 % 25.68 24.0 %
Q1 2011 15.44 (54.3 %) 7.27 (43.5 %) 2.76 (57.4 %)
Q2 2011 50.37 41.1 % 23.51 34.4 % 15.52 42.1 %
Q3 2011 100.53 19.1 % 45.22 23.2 % 30.40 26.8 %
Q4 2011 126.15 35.7 % 50.38 41.8 % 35.22 37.2 %
Q1 2012 36.23 134.7 % 10.30 41.8 % 3.00 8.7 %
Q2 2012 55.63 10.4 % 27.24 15.9 % 18.91 21.8 %
Q3 2012 135.97 35.3 % 57.59 27.3 % 40.33 32.6 %
Q4 2012 116.71 (7.5 %) 54.71 8.6 % 39.21 11.3 %
Q1 2013 38.00 4.9 % 14.30 38.8 % 3.97 32.4 %
Q2 2013 71.34 28.2 % 33.41 22.7 % 22.85 20.9 %
Q3 2013 121.19 (10.9 %) 50.51 (12.3 %) 35.85 (11.1 %)
Q4 2013 110.47 (5.3 %) 54.31 (0.7 %) 32.97 (15.9 %)
Q1 2014 46.84 23.2 % 15.94 11.5 % 5.49 38.3 %
Q2 2014 69.11 (3.1 %) 33.15 (0.8 %) 23.21 1.6 %
Q3 2014 124.13 2.4 % 51.25 1.5 % 38.16 6.4 %
Q4 2014 110.23 (0.2 %) 51.53 (5.1 %) 37.13 12.6 %
Q1 2015 53.18 13.5 % 18.28 14.7 % 8.23 50.0 %
Q2 2015 74.26 7.4 % 31.70 (4.4 %) 20.51 (11.6 %)
Q3 2015 123.03 (0.9 %) 57.47 12.1 % 44.78 17.3 %
Q4 2015 118.49 7.5 % 14.56 (71.7 %) (0.36) (101.0 %)
Q1 2016 56.31 5.9 % 19.17 4.8 % 10.01 21.6 %
Q2 2016 74.58 0.4 % 34.78 9.7 % 23.71 15.6 %
Q3 2016 120.83 (1.8 %) 47.45 (17.4 %) 34.45 (23.1 %)
Q4 2016 128.50 8.4 % 30.82 111.7 % 4.17 1268.6 %
Q1 2017 48.20 (14.4 %) 13.26 (30.8 %) 7.17 (28.4 %)
Q2 2017 67.21 (9.9 %) 22.25 (36.0 %) 11.63 (51.0 %)
Q3 2017 114.03 (5.6 %) 23.46 (50.6 %) 12.78 (62.9 %)
Q4 2017 76.18 (40.7 %) 15.42 (50.0 %) (1.16) (127.7 %)
Q1 2018 41.64 (13.6 %) (14.92) (212.6 %) (23.50) (427.8 %)
Q2 2018 79.94 18.9 % 43.12 93.8 % 29.61 154.6 %
Q3 2018 126.24 10.7 % 44.18 88.3 % 26.88 110.3 %
Q4 2018 111.12 45.9 % 31.00 101.0 % 16.56 1533.8 %
Q1 2019 49.64 19.2 % 16.00 207.2 % 7.52 132.0 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2010 7.15 (48.2 %) 0.24 - 7.15 0.24
Q2 2010 12.00 5.2 % 0.40 - 12.00 0.40
Q3 2010 23.58 40.1 % 0.79 (1.75) 25.33 0.84
Q4 2010 23.53 12.5 % 0.78 (2.06) 25.59 0.85
Q1 2011 6.05 (15.4 %) 0.20 - 6.05 0.20
Q2 2011 15.13 26.1 % 0.50 - 15.13 0.50
Q3 2011 29.31 24.3 % 0.98 - 29.31 0.98
Q4 2011 34.13 45.1 % 1.14 - 34.13 1.14
Q1 2012 7.09 17.3 % 0.24 - 7.09 0.24
Q2 2012 20.24 33.8 % 0.67 (2.17) 22.40 0.75
Q3 2012 34.81 18.8 % 1.16 (2.81) 37.62 1.25
Q4 2012 39.54 15.8 % 1.32 5.21 34.33 1.14
Q1 2013 8.13 14.6 % 0.27 - 8.13 0.27
Q2 2013 23.07 14.0 % 0.77 - 23.07 0.77
Q3 2013 34.36 (1.3 %) 1.15 - 34.36 1.15
Q4 2013 36.51 (7.7 %) 1.22 7.73 28.78 0.96
Q1 2014 5.19 (36.1 %) 0.17 - 5.19 0.17
Q2 2014 27.75 20.3 % 0.93 - 27.75 0.93
Q3 2014 37.15 8.1 % 1.24 - 37.15 1.24
Q4 2014 37.03 1.4 % 1.23 - 37.03 1.23
Q1 2015 8.62 66.1 % 0.29 - 8.62 0.29
Q2 2015 20.16 (27.4 %) 0.67 - 20.16 0.67
Q3 2015 43.35 16.7 % 1.45 - 43.35 1.45
Q4 2015 0.26 (99.3 %) 0.01 - 0.26 0.01
Q1 2016 8.81 2.2 % 0.29 - 8.81 0.29
Q2 2016 22.93 13.7 % 0.76 - 22.93 0.76
Q3 2016 32.89 (24.1 %) 1.10 - 32.89 1.10
Q4 2016 3.53 1240.7 % 0.12 - 3.53 0.12
Q1 2017 8.11 (8.0 %) 0.27 - 8.11 0.27
Q2 2017 7.71 (66.4 %) 0.26 (2.50) 10.21 0.34
Q3 2017 11.47 (65.1 %) 0.38 - 11.47 0.38
Q4 2017 (1.69) (148.0 %) (0.06) - (1.69) (0.06)
Q1 2018 (23.96) (395.4 %) (0.80) - (23.96) (0.80)
Q2 2018 26.05 237.9 % 0.87 - 26.05 0.87
Q3 2018 22.55 96.6 % 0.75 - 22.55 0.75
Q4 2018 11.11 757.0 % 0.37 - 11.11 0.37
Q1 2019 6.53 127.3 % 0.22 - 6.53 0.22

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2010 39.11 % 36.14 % 22.93 %
Q2 2010 39.17 % 36.55 % 23.51 %
Q3 2010 39.57 % 37.58 % 26.50 %
Q4 2010 41.55 % 41.04 % 28.38 %
Q1 2011 42.45 % 43.02 % 30.18 %
Q2 2011 42.36 % 42.63 % 29.65 %
Q3 2011 43.01 % 42.74 % 29.34 %
Q4 2011 43.21 % 41.35 % 28.93 %
Q1 2012 41.31 % 38.57 % 27.34 %
Q2 2012 41.80 % 38.93 % 29.18 %
Q3 2012 41.11 % 37.90 % 28.60 %
Q4 2012 43.49 % 40.21 % 29.44 %
Q1 2013 44.42 % 42.39 % 29.59 %
Q2 2013 44.20 % 43.07 % 28.49 %
Q3 2013 44.04 % 44.99 % 28.77 %
Q4 2013 44.73 % 45.52 % 27.67 %
Q1 2014 44.07 % 44.73 % 26.13 %
Q2 2014 44.28 % 45.76 % 27.64 %
Q3 2014 44.12 % 46.76 % 28.21 %
Q4 2014 43.35 % 48.71 % 30.58 %
Q1 2015 43.24 % 48.65 % 31.00 %
Q2 2015 42.22 % 47.30 % 28.46 %
Q3 2015 44.08 % 49.60 % 30.26 %
Q4 2015 33.07 % 38.57 % 19.62 %
Q1 2016 33.03 % 39.44 % 19.51 %
Q2 2016 33.83 % 40.83 % 20.23 %
Q3 2016 31.32 % 38.76 % 17.53 %
Q4 2016 34.78 % 32.03 % 17.92 %
Q1 2017 33.95 % 32.41 % 18.13 %
Q2 2017 31.20 % 31.24 % 15.01 %
Q3 2017 25.09 % 26.65 % 9.31 %
Q4 2017 24.34 % 33.60 % 9.20 %
Q1 2018 15.45 % 22.16 % (1.33 %)
Q2 2018 21.52 % 27.29 % 3.81 %
Q3 2018 27.10 % 30.56 % 7.09 %
Q4 2018 28.80 % 35.35 % 9.96 %
Q1 2019 36.60 % 42.45 % 18.05 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2010 30.00 1.88 1.89 16.65
Q2 2010 30.00 1.90 1.91 17.05
Q3 2010 30.00 2.12 2.20 17.83
Q4 2010 30.00 2.21 2.34 18.60
Q1 2011 30.00 2.17 2.30 17.37
Q2 2011 30.00 2.28 2.40 17.87
Q3 2011 30.00 2.47 2.54 18.85
Q4 2011 30.00 2.82 2.82 19.99
Q1 2012 30.00 2.86 2.86 20.22
Q2 2012 30.00 3.03 3.10 19.17
Q3 2012 30.00 3.21 3.37 20.33
Q4 2012 30.00 3.39 3.38 21.65
Q1 2013 30.00 3.42 3.42 20.19
Q2 2013 30.00 3.52 3.44 20.96
Q3 2013 30.00 3.50 3.33 22.11
Q4 2013 30.00 3.40 3.14 23.32
Q1 2014 30.00 3.30 3.05 22.66
Q2 2014 30.00 3.46 3.20 23.53
Q3 2014 30.00 3.55 3.30 24.77
Q4 2014 30.00 3.57 3.57 24.37
Q1 2015 30.00 3.69 3.69 25.28
Q2 2015 30.00 3.43 3.43 25.90
Q3 2015 30.00 3.64 3.64 27.34
Q4 2015 30.00 2.41 2.41 25.72
Q1 2016 30.00 2.42 2.42 27.30
Q2 2016 30.00 2.51 2.51 23.67
Q3 2016 30.00 2.16 2.16 24.76
Q4 2016 30.00 2.27 2.27 22.90
Q1 2017 30.00 2.25 2.25 26.15
Q2 2017 30.00 1.74 1.82 24.45
Q3 2017 30.00 1.03 1.11 24.84
Q4 2017 30.00 0.85 0.94 22.84
Q1 2018 30.00 (0.22) (0.13) 22.04
Q2 2018 30.00 0.40 0.40 21.91
Q3 2018 30.00 0.77 0.77 22.66
Q4 2018 30.00 1.19 1.19 23.14
Q1 2019 30.00 2.21 2.21 23.36

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2010 12.19 12.08 1.37
Q2 2010 10.02 9.93 1.11
Q3 2010 9.62 9.29 1.14
Q4 2010 11.56 10.93 1.37
Q1 2011 10.17 9.60 1.27
Q2 2011 9.67 9.15 1.23
Q3 2011 9.76 9.50 1.28
Q4 2011 10.84 10.84 1.53
Q1 2012 12.52 12.52 1.77
Q2 2012 10.30 10.06 1.63
Q3 2012 11.19 10.64 1.77
Q4 2012 10.70 10.72 1.67
Q1 2013 10.08 10.10 1.71
Q2 2013 11.25 11.51 1.89
Q3 2013 12.96 13.64 2.05
Q4 2013 12.22 13.22 1.78
Q1 2014 12.98 14.08 1.89
Q2 2014 13.58 14.67 2.00
Q3 2014 15.08 16.26 2.16
Q4 2014 11.43 11.43 1.68
Q1 2015 11.37 11.37 1.66
Q2 2015 13.45 13.45 1.78
Q3 2015 10.67 10.67 1.42
Q4 2015 13.82 13.82 1.30
Q1 2016 9.69 9.69 0.86
Q2 2016 11.92 11.92 1.27
Q3 2016 12.91 12.91 1.13
Q4 2016 15.31 15.31 1.52
Q1 2017 13.85 13.85 1.19
Q2 2017 16.72 15.95 1.19
Q3 2017 27.35 25.30 1.13
Q4 2017 35.95 32.75 1.34
Q1 2018 NEG NEG 1.36
Q2 2018 66.80 66.80 1.21
Q3 2018 29.82 29.82 1.01
Q4 2018 18.12 18.12 0.93
Q1 2019 10.42 10.42 0.98

Business Segments (Million)

Compared With The
Period Agricultural activity - Manufacturing Agricultural activity - plants
Q3 2016 22.23 98.61
Q4 2016 29.74 98.76
Q1 2017 31.56 16.64
Q2 2017 26.73 40.48
Q3 2017 10.73 103.30
Q4 2017 8.45 67.73
Q1 2018 17.81 23.83
Q2 2018 10.37 69.56
Q3 2018 35.75 90.49
Q4 2018 43.58 67.54
Q1 2019 36.93 12.71


Financial Ratios
Current
Market Cap (M Riyal) 1,800.00
Enterprise Value (EV) (M) 2,021.56
Shares Outstanding ((M)) 30.00
EPS ( Riyal) (TTM) 2.79
Book Value (BV) ( Riyal) 24.94
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 24.13
P/E (TTM) 21.53
Price/book 2.41
Return on Average Assets (%) (TTM) 7.3
Return on Average Equity (%) (TTM) 11.6
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Share Price

Al-Jouf Agricultural Development Co.
60.00
(0.30) (0.50 %)

Al-Jouf Agricultural Development Co. (ALJOUF)

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