JAZADCO Q1 2022 profit up 76% to SAR 3.6 mln

JAZADCO Q1 2022 profit up 76% to SAR 3.6 mln

23/05/2022 Argaam Exclusive

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Jazan Energy and Development Co. (JAZADCO) reported a 76% rise in Q1 2022 net profit after Zakat and tax to SAR 3.6 million, from SAR 2 million a year earlier.



Current Quarter Comparison (M)

Compared With The
Item Q1 2021 Q1 2022 Change‬
Revenues 23.18 26.31 13.5 %
Gross Income 6.50 8.60 32.3 %
Operating Income 1.80 2.62 45.4 %
Net Income 2.03 3.56 75.5 %
Average Shares 50.00 50.00 -
EPS (Riyals) 0.04 0.07 75.5 %

The profit rise was driven by higher sales from the agricultural and aquaculture segments, as well as higher revenue from the real estate segment due to a rise in the occupancy rate.

 

The net profit in Q1 2022 more than doubled from SAR 1.53 million in Q4 2021.

 

Shareholder’s equity, after minority interest, stood at SAR 547.81 million at the end of Q1 2022, up from SAR 526.16 million a year earlier.

 

Accumulated losses reached SAR 40.60 million as of March 31, 2022, or 8% of capital.

View More Financial Results

 


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2013 7.09 (0.2 %) (4.65) (45.7 %) (8.15) (28.7 %)
Q2 2013 11.39 43.9 % (1.94) 66.6 % (6.37) 37.4 %
Q3 2013 9.62 12.1 % (2.06) 50.4 % (6.31) 22.5 %
Q4 2013 16.41 9.9 % (3.56) 15.2 % (12.61) (51.2 %)
Q1 2014 13.87 95.8 % (0.24) 94.8 % (3.06) 62.5 %
Q2 2014 15.21 33.6 % 3.01 255.4 % 0.27 104.3 %
Q3 2014 12.04 25.2 % 3.29 259.7 % 0.55 108.7 %
Q4 2014 24.11 46.9 % 8.48 338.3 % 5.37 142.6 %
Q1 2015 11.45 (17.5 %) 2.07 963.3 % (0.61) 80.0 %
Q2 2015 15.26 0.4 % 3.66 21.7 % 0.93 240.4 %
Q3 2015 28.41 136.0 % 9.42 186.0 % 6.84 1139.7 %
Q4 2015 35.33 46.6 % 12.68 49.5 % 9.93 85.0 %
Q1 2016 20.27 77.0 % 4.36 110.6 % 1.33 318.0 %
Q2 2016 17.45 14.3 % 7.01 91.2 % 3.72 301.3 %
Q3 2016 28.39 0.0 % 9.30 (1.2 %) 6.59 (3.8 %)
Q4 2016 21.26 (39.8 %) 3.88 (69.4 %) (0.94) (109.4 %)
Q1 2017 9.63 (52.5 %) 1.22 (72.1 %) (1.62) (221.4 %)
Q2 2017 12.50 (28.4 %) 6.96 (0.6 %) 3.76 1.3 %
Q3 2017 28.79 1.4 % 9.74 4.8 % 6.76 2.6 %
Q4 2017 29.33 38.0 % 1.07 (72.3 %) (4.07) (333.7 %)
Q1 2018 9.97 3.5 % 0.12 (90.5 %) (3.25) (100.5 %)
Q2 2018 12.82 2.6 % 7.64 9.8 % 4.32 14.8 %
Q3 2018 18.57 (35.5 %) 7.03 (27.8 %) 3.69 (45.4 %)
Q4 2018 27.16 (7.4 %) (5.50) (612.3 %) (12.25) (201.1 %)
Q1 2019 16.66 67.1 % (1.08) (1039.1 %) (4.98) (53.3 %)
Q2 2019 13.28 3.6 % 5.82 (23.9 %) (1.65) (138.2 %)
Q3 2019 19.10 2.9 % 3.82 (45.7 %) (0.46) (112.5 %)
Q4 2019 22.84 (15.9 %) 7.19 230.7 % (3.45) 71.8 %
Q1 2020 22.59 35.6 % 5.95 651.2 % 1.26 125.2 %
Q2 2020 19.09 43.7 % 9.13 56.9 % 1.19 171.9 %
Q3 2020 18.65 (2.4 %) 11.94 212.7 % 7.96 1826.2 %
Q4 2020 24.75 8.4 % 3.76 (47.6 %) (1.69) 51.0 %
Q1 2021 23.18 2.6 % 6.50 9.2 % 1.80 43.5 %
Q2 2021 19.82 3.8 % 15.22 66.7 % 7.57 538.1 %
Q3 2021 19.16 2.7 % 8.89 (25.5 %) 1.92 (75.9 %)
Q4 2021 36.36 46.9 % 10.34 174.6 % 0.51 130.2 %
Q1 2022 26.31 13.5 % 8.60 32.3 % 2.62 45.4 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2013 21.87 640.4 % 0.44 28.55 (6.68) (0.13)
Q2 2013 134.11 2219.6 % 2.68 154.92 (20.81) (0.42)
Q3 2013 (5.24) 45.9 % (0.10) 0.04 (5.28) (0.11)
Q4 2013 (50.09) (2993.8 %) (1.00) (14.28) (35.81) (0.72)
Q1 2014 (2.08) (109.5 %) (0.04) - (2.08) (0.04)
Q2 2014 1.15 (99.1 %) 0.02 - 1.15 0.02
Q3 2014 3.55 167.7 % 0.07 - 3.55 0.07
Q4 2014 5.74 111.4 % 0.11 - 5.74 0.11
Q1 2015 0.07 103.5 % 0.00 - 0.07 0.00
Q2 2015 3.55 209.0 % 0.07 - 3.55 0.07
Q3 2015 7.24 104.0 % 0.14 - 7.24 0.14
Q4 2015 13.16 129.5 % 0.26 - 13.16 0.26
Q1 2016 1.23 1613.9 % 0.02 - 1.23 0.02
Q2 2016 3.62 1.9 % 0.07 - 3.62 0.07
Q3 2016 6.49 (10.4 %) 0.13 - 6.49 0.13
Q4 2016 (2.38) (118.0 %) (0.05) - (2.38) (0.05)
Q1 2017 (1.72) (239.4 %) (0.03) - (1.72) (0.03)
Q2 2017 3.66 1.3 % 0.07 - 3.66 0.07
Q3 2017 6.66 2.6 % 0.13 - 6.66 0.13
Q4 2017 (5.37) (126.3 %) (0.11) - (5.37) (0.11)
Q1 2018 (3.56) (107.0 %) (0.07) - (3.56) (0.07)
Q2 2018 4.22 15.2 % 0.08 - 4.22 0.08
Q3 2018 3.14 (52.9 %) 0.06 - 3.14 0.06
Q4 2018 (13.91) (158.8 %) (0.28) - (13.91) (0.28)
Q1 2019 (5.23) (47.0 %) (0.10) - (5.23) (0.10)
Q2 2019 (1.77) (142.0 %) (0.04) - (1.77) (0.04)
Q3 2019 (1.32) (141.9 %) (0.03) - (1.32) (0.03)
Q4 2019 (4.58) 67.1 % (0.09) - (4.58) (0.09)
Q1 2020 0.52 110.0 % 0.01 - 0.52 0.01
Q2 2020 0.66 137.3 % 0.01 - 0.66 0.01
Q3 2020 8.45 742.4 % 0.17 - 8.45 0.17
Q4 2020 1.15 125.1 % 0.02 4.09 (2.94) (0.06)
Q1 2021 2.03 287.6 % 0.04 - 2.03 0.04
Q2 2021 7.84 1086.4 % 0.16 - 7.84 0.16
Q3 2021 2.35 (72.2 %) 0.05 - 2.35 0.05
Q4 2021 (0.09) (107.7 %) 0.00 - (0.09) 0.00
Q1 2022 3.56 75.5 % 0.07 - 3.56 0.07

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2013 (48.81 %) (32.30 %) (78.00 %)
Q2 2013 (35.57 %) (18.99 %) (106.04 %)
Q3 2013 (29.85 %) (15.73 %) (93.23 %)
Q4 2013 (27.43 %) (4.80 %) (154.13 %)
Q1 2014 (15.21 %) 0.65 % (124.75 %)
Q2 2014 (5.17 %) 7.33 % (76.25 %)
Q3 2014 4.35 % 13.79 % (57.70 %)
Q4 2014 22.30 % 21.10 % 12.81 %
Q1 2015 26.84 % 25.77 % 16.72 %
Q2 2015 27.86 % 28.53 % 20.53 %
Q3 2015 29.83 % 32.21 % 20.94 %
Q4 2015 30.76 % 34.91 % 26.55 %
Q1 2016 30.34 % 34.70 % 25.37 %
Q2 2016 32.98 % 36.99 % 24.89 %
Q3 2016 32.87 % 37.04 % 24.15 %
Q4 2016 28.10 % 30.90 % 10.26 %
Q1 2017 27.89 % 31.76 % 7.83 %
Q2 2017 29.76 % 34.31 % 8.43 %
Q3 2017 30.21 % 34.55 % 8.62 %
Q4 2017 23.67 % 27.34 % 4.02 %
Q1 2018 22.20 % 25.27 % 1.72 %
Q2 2018 22.95 % 25.91 % 2.40 %
Q3 2018 22.44 % 25.35 % (2.23 %)
Q4 2018 13.55 % 14.37 % (14.76 %)
Q1 2019 10.76 % 10.86 % (15.67 %)
Q2 2019 8.28 % 2.97 % (23.50 %)
Q3 2019 4.01 % (2.35 %) (29.17 %)
Q4 2019 21.90 % 1.13 % (17.95 %)
Q1 2020 29.27 % 6.93 % (9.18 %)
Q2 2020 31.20 % 8.15 % (5.64 %)
Q3 2020 41.13 % 16.34 % 6.07 %
Q4 2020 36.19 % 23.26 % 7.87 %
Q1 2021 36.58 % 24.29 % 9.58 %
Q2 2021 43.31 % 31.73 % 17.81 %
Q3 2021 39.55 % 25.03 % 10.68 %
Q4 2021 41.56 % 25.10 % 12.31 %
Q1 2022 42.34 % 25.29 % 13.44 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2013 50.00 0.15 (0.60) 10.30
Q2 2013 50.00 2.96 (0.89) 12.98
Q3 2013 50.00 3.05 (0.80) 12.88
Q4 2013 50.00 2.01 (1.37) 11.92
Q1 2014 50.00 1.53 (1.28) 11.88
Q2 2014 50.00 (1.13) (0.84) 11.90
Q3 2014 50.00 (0.95) (0.66) 11.96
Q4 2014 50.00 0.17 0.17 12.04
Q1 2015 50.00 0.21 0.21 12.06
Q2 2015 50.00 0.26 0.26 12.09
Q3 2015 50.00 0.33 0.33 12.20
Q4 2015 50.00 0.48 0.48 12.42
Q1 2016 50.00 0.50 0.50 12.19
Q2 2016 50.00 0.50 0.50 12.28
Q3 2016 50.00 0.49 0.49 12.39
Q4 2016 50.00 0.18 0.18 11.66
Q1 2017 50.00 0.12 0.12 11.66
Q2 2017 50.00 0.12 0.12 11.73
Q3 2017 50.00 0.12 0.12 11.86
Q4 2017 50.00 0.06 0.06 11.75
Q1 2018 50.00 0.03 0.03 11.68
Q2 2018 50.00 0.04 0.04 11.76
Q3 2018 50.00 (0.03) (0.03) 11.82
Q4 2018 50.00 (0.20) (0.20) 10.58
Q1 2019 50.00 (0.24) (0.24) 11.34
Q2 2019 50.00 (0.36) (0.36) 11.30
Q3 2019 50.00 (0.44) (0.44) 11.27
Q4 2019 50.00 (0.26) (0.26) 10.25
Q1 2020 50.00 (0.14) (0.14) 10.80
Q2 2020 50.00 (0.09) (0.09) 10.82
Q3 2020 50.00 0.10 0.10 10.61
Q4 2020 50.00 0.22 0.13 10.48
Q1 2021 50.00 0.25 0.16 10.52
Q2 2021 50.00 0.39 0.31 10.69
Q3 2021 50.00 0.27 0.19 10.73
Q4 2021 50.00 0.24 0.24 10.85
Q1 2022 50.00 0.27 0.27 10.96

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2013 More than 100 NEG 1.56
Q2 2013 5.51 NEG 1.26
Q3 2013 5.38 NEG 1.27
Q4 2013 8.67 NEG 1.46
Q1 2014 12.06 NEG 1.56
Q2 2014 NEG NEG 1.74
Q3 2014 NEG NEG 1.74
Q4 2014 83.73 83.73 1.16
Q1 2015 68.23 68.23 1.19
Q2 2015 57.28 57.28 1.22
Q3 2015 33.52 33.52 0.91
Q4 2015 35.72 35.72 1.38
Q1 2016 24.21 24.21 1.00
Q2 2016 23.45 23.45 0.96
Q3 2016 17.18 17.18 0.68
Q4 2016 61.88 61.88 0.95
Q1 2017 More than 100 More than 100 1.18
Q2 2017 More than 100 More than 100 1.20
Q3 2017 More than 100 More than 100 1.56
Q4 2017 More than 100 More than 100 1.45
Q1 2018 More than 100 More than 100 1.46
Q2 2018 More than 100 More than 100 1.38
Q3 2018 NEG NEG 1.29
Q4 2018 NEG NEG 1.40
Q1 2019 NEG NEG 1.21
Q2 2019 NEG NEG 1.12
Q3 2019 NEG NEG 1.07
Q4 2019 NEG NEG 1.14
Q1 2020 NEG NEG 0.88
Q2 2020 NEG NEG 1.05
Q3 2020 More than 100 More than 100 1.52
Q4 2020 77.15 More than 100 1.59
Q1 2021 86.65 More than 100 2.02
Q2 2021 68.95 87.27 2.51
Q3 2021 92.14 More than 100 2.30
Q4 2021 79.31 79.31 1.77
Q1 2022 70.85 70.85 1.77

Business Segments (Million)

Compared With The
Period Agricultural Activity Water bottling Segment Shrimp Farming Segment Commercial sector Properties for development and sale
Q1 2013 2.71 - - 3.49 0.89
Q2 2013 3.85 - - 6.64 0.91
Q3 2013 1.15 - - 7.53 0.93
Q4 2013 7.83 - - 7.63 0.95
Q1 2014 6.59 - - 6.34 0.94
Q2 2014 4.87 - - 9.28 1.05
Q3 2014 1.19 - - 9.96 0.89
Q4 2014 15.06 - - 7.84 1.21
Q1 2015 1.05 - - 6.95 3.45
Q2 2015 0.50 - - 10.71 4.05
Q3 2015 13.01 - - 11.33 4.08
Q4 2015 21.07 - - 9.83 4.44
Q1 2016 6.35 - - 9.65 4.26
Q2 2016 0.58 - - 12.21 4.65
Q3 2016 15.61 - - 8.16 4.62
Q4 2016 8.34 - - 8.08 4.84
Q1 2017 0.59 - - 4.19 4.86
Q2 2017 0.76 - - 7.26 4.48
Q3 2017 20.34 - - 4.03 4.41
Q4 2017 17.94 - - 7.34 4.05
Q1 2018 1.08 - - 4.89 4.00
Q2 2018 0.67 - - 8.41 3.74
Q3 2018 7.77 - - 7.23 3.57
Q4 2018 17.97 - - 5.78 3.41
Q1 2019 7.95 - - 5.87 2.84
Q2 2019 3.35 - - 7.41 2.53
Q3 2019 8.77 - - 8.44 1.89
Q4 2019 14.13 - - 6.31 2.40
Q1 2020 14.56 - - 5.45 2.58
Q2 2020 11.95 - - 4.33 2.80
Q3 2020 10.17 - - 5.52 2.96
Q4 2020 17.32 - - 4.49 2.94
Q1 2021 16.07 - - 4.41 2.70
Q2 2021 11.88 - - 4.79 3.15
Q3 2021 13.13 - - 3.04 2.99
Q4 2021 25.07 - - 8.32 2.96
Q1 2022 20.03 - - 3.14 3.14


Financial Ratios
Current
Market Cap (M Riyal) 648.00
Enterprise Value (EV) (M) 678.31
Shares Outstanding ((M)) 50.00
EPS ( Riyal) (TTM) (1.78)
Book Value (BV) ( Riyal) 8.62
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 1.50
Return on Average Assets (%) (TTM) (14.99 )
Return on Average Equity (%) (TTM) (17.92 )
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Share Price

Jazan Development and Investment Co.
12.96
(0.10) (0.77 %)

Jazan Development and Investment Co. (JAZADCO)

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