Alandalus says net profit rises 11% in nine-months 2015
16/12/2015
Argaam Exclusive
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Alandalus Property Co., which is planning to launch an initial public offering (IPO) in the Saudi market, reported a net profit of SAR 72.4 million for the first nine months of 2015, marking an 11 percent year-on-year (YOY) increase supported by higher rent revenue from new shopping centers.
Financials (M)
| Item | 9m 2014 | 9m 2015 | Change |
|---|---|---|---|
| Revenues | 76.58 | 94.36 | 23.2 % |
| Gross Income | 53.06 | 58.42 | 10.1 % |
| Operating Income | 46.27 | 51.90 | 12.2 % |
| Net Income | 65.19 | 72.39 | 11.0 % |
| Average Shares | 93.33 | 93.33 | - |
| EPS (Riyals) | 0.70 | 0.78 | 11.0 % |
The company’s net profit rose by over ten percent in Q3-2015 to 24.2 million. Last month, the developer announced it would float 30 percent of its shares in an initial public offering (IPO) from December 17 to 23.
Compared With The
Current Quarter Comparison (M)
| Item | Q3 2014 | Q3 2015 | Change |
|---|---|---|---|
| Revenues | 27.33 | 33.06 | 21.0 % |
| Gross Income | 18.47 | 19.76 | 7.0 % |
| Operating Income | 15.76 | 17.09 | 8.4 % |
| Net Income | 21.88 | 24.18 | 10.5 % |
| Average Shares | 93.33 | 93.33 | - |
| EPS (Riyals) | 0.23 | 0.26 | 10.5 % |
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| Q1 2015 | 29.58 | 24.7 % | 18.23 | 13.8 % | 16.28 | 12.5 % |
| Q2 2015 | 31.72 | 24.3 % | 20.42 | 10.0 % | 18.53 | 15.6 % |
| Q3 2015 | 33.06 | 21.0 % | 19.76 | 7.0 % | 17.09 | 8.4 % |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS Before XO Items |
|---|---|---|---|---|---|---|
| Q1 2015 | 23.55 | 10.0 % | 0.25 | - | 23.55 | 0.25 |
| Q2 2015 | 24.67 | 12.6 % | 0.26 | - | 24.67 | 0.26 |
| Q3 2015 | 24.18 | 10.5 % | 0.26 | - | 24.18 | 0.26 |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| Q1 2015 | 67.19 % | 69.22 % | 82.01 % |
| Q2 2015 | 65.18 % | 67.95 % | 79.99 % |
| Q3 2015 | 63.15 % | 66.03 % | 78.09 % |
Compared With The
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| Q1 2015 | 93.33 | 0.95 | 0.95 | 8.65 |
| Q2 2015 | 93.33 | 0.98 | 0.98 | 8.92 |
| Q3 2015 | 93.33 | 1.01 | 1.01 | 9.18 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| Q1 2015 | - | - | - |
| Q2 2015 | - | - | - |
| Q3 2015 | - | - | - |
| Current | |
| Market Cap (M Riyal) | 2,286.59 |
| Enterprise Value (EV) (M) | 3,178.67 |
| Shares Outstanding ((M)) | 93.33 |
| EPS ( Riyal) (TTM) | (0.13) |
| Book Value (BV) ( Riyal) | 11.07 |
| Par Value ( Riyal) | 10.00 |
| Adjusted P/E (Last12) | Neg |
| P/E (TTM) | NEG |
| Price/book | 2.21 |
| Return on Average Assets (%) (TTM) | (0.55 ) |
| Return on Average Equity (%) (TTM) | (1.18 ) |
Share Price
Alandalus Property Co. (ALANDALUS)
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