Baazeem 2021 profit falls 18% to SAR 21.6 mln; Q4 at SAR 2.7 mln

Baazeem 2021 profit falls 18% to SAR 21.6 mln; Q4 at SAR 2.7 mln

13/03/2022 Argaam Exclusive

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Baazeem Trading Co. reported an 18% drop in 2021 net profit after Zakat and tax to SAR 21.6 million, compared to SAR 26.3 million a year earlier. 

 

The lower profit was attributed to a decline in sales and Zakat differences of SAR 2.27 million for the period from 2014 to 2018, which was charged to the 2021 Zakat expenses.

 

The founders’ also paid SAR 2.78 million, or 55% of total Zakat claims for the same period, which offset the financial impact on the company’s net profit.



Financials (M)

Item 2020 2021 Change‬
Revenues 285.48 259.91 (9.0 %)
Gross Income 110.72 96.98 (12.4 %)
Operating Income 32.39 27.86 (14.0 %)
Net Income 26.27 21.55 (18.0 %)
Average Shares 10.13 10.13 -
EPS (Riyals) 2.59 2.13 (18.0 %)

The fourth-quarter net profit after Zakat and tax dipped 54.4% year-on-year to SAR 2.7 million.

 

Compared to Q3 2021, net profit dipped 35.9% from SAR 4.18 million.



Current Quarter Comparison (M)

Compared With The
Item Q4 2020 Q4 2021 Change‬
Revenues 66.86 61.18 (8.5 %)
Gross Income 26.89 22.01 (18.1 %)
Operating Income 7.10 5.72 (19.4 %)
Net Income 5.88 2.68 (54.4 %)
Average Shares 10.13 10.13 -
EPS (Riyals) 0.58 0.26 (54.4 %)

Shareholders’ equity, after minority interest, edged up 1.5% to SAR 194.08 million in 2021, from SAR 191.20 million in 202.

 

The company incurred actuarial losses of SAR 950,236 on re-evaluating employee benefits as of Dec. 31, 2021.

View More Financial Results

 


Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Riyal)
Q1 2012 - - - - - - -
Q2 2012 - - - - - - -
Q3 2012 - - - - - - -
Q4 2012 - - - - - - -
Q1 2013 - - - - - - -
Q2 2013 - - - - - - -
Q3 2013 - - - - - - -
Q4 2013 - - - - - - -
Q1 2014 - - - - - - -
Q2 2014 - - - - - - -
Q3 2014 - - - - - - -
Q4 2014 - - - - - - -
Q1 2015 - - - - - - -
Q2 2015 - - - - - - -
Q3 2015 77.25 - 33.87 - 10.86 - 1.07
Q4 2015 104.19 - 45.12 - 9.07 - 0.90
Q1 2016 77.45 - 33.22 - 5.89 - 0.58
Q2 2016 96.96 - 41.83 - 10.70 - 1.06
Q3 2016 75.39 (2.4 %) 31.35 (7.4 %) 7.23 (33.5 %) 0.71
Q4 2016 93.68 (10.1 %) 42.49 (5.8 %) 9.38 3.4 % 0.93
Q1 2017 76.35 (1.4 %) 26.08 (21.5 %) 6.36 7.9 % 0.63
Q2 2017 95.25 (1.8 %) 48.57 16.1 % 11.45 7.0 % 1.13
Q3 2017 66.28 (12.1 %) 25.54 (18.5 %) 3.95 (45.4 %) 0.39
Q4 2017 92.66 (1.1 %) 37.10 (12.7 %) 2.80 (70.2 %) 0.28
Q1 2018 71.36 (6.5 %) 28.69 10.0 % 6.47 1.7 % 0.64
Q2 2018 81.36 (14.6 %) 36.62 (24.6 %) 5.34 (53.4 %) 0.53
Q3 2018 65.86 (0.6 %) 26.65 4.3 % 3.66 (7.3 %) 0.36
Q4 2018 83.83 (9.5 %) 32.44 (12.6 %) 4.99 78.5 % 0.49
Q1 2019 64.69 (9.4 %) 21.41 (25.4 %) 7.02 8.5 % 0.69
Q2 2019 66.71 (18.0 %) 21.18 (42.2 %) 5.36 0.4 % 0.53
Q3 2019 60.16 (8.7 %) 17.56 (34.1 %) 3.11 (15.1 %) 0.31
Q4 2019 68.70 (18.0 %) 23.31 (28.1 %) 5.14 3.1 % 0.51
Q1 2020 80.87 25.0 % 31.05 45.1 % 8.91 26.9 % 0.88
Q2 2020 71.75 7.6 % 22.84 7.9 % 6.59 22.9 % 0.65
Q3 2020 66.00 9.7 % 24.95 42.0 % 4.89 57.5 % 0.48
Q4 2020 66.86 (2.7 %) 26.89 15.4 % 5.88 14.4 % 0.58
Q1 2021 79.84 (1.3 %) 29.09 (6.3 %) 9.78 9.8 % 0.97
Q2 2021 59.38 (17.2 %) 25.18 10.2 % 4.91 (25.5 %) 0.48
Q3 2021 59.52 (9.8 %) 20.70 (17.0 %) 4.18 (14.5 %) 0.41
Q4 2021 61.18 (8.5 %) 22.01 (18.1 %) 2.68 (54.4 %) 0.26
2021 259.91 (9.0 %) 96.98 (12.4 %) 21.55 (18.0 %) 2.13

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2012 - - -
Q2 2012 - - -
Q3 2012 - - -
Q4 2012 - - -
Q1 2013 - - -
Q2 2013 - - -
Q3 2013 - - -
Q4 2013 - - -
Q1 2014 - - -
Q2 2014 - - -
Q3 2014 - - -
Q4 2014 - - -
Q1 2015 - - -
Q2 2015 - - -
Q3 2015 - - -
Q4 2015 - - -
Q1 2016 - - -
Q2 2016 43.29 % 11.98 % 10.26 %
Q3 2016 42.80 % 10.50 % 9.29 %
Q4 2016 43.35 % 10.63 % 9.67 %
Q1 2017 41.40 % 10.81 % 9.83 %
Q2 2017 43.59 % 10.79 % 10.10 %
Q3 2017 43.04 % 10.56 % 9.39 %
Q4 2017 41.54 % 9.84 % 7.43 %
Q1 2018 42.98 % 10.24 % 7.58 %
Q2 2018 41.06 % 8.94 % 5.95 %
Q3 2018 41.47 % 9.80 % 5.87 %
Q4 2018 41.14 % 10.38 % 6.76 %
Q1 2019 39.60 % 10.95 % 7.10 %
Q2 2019 36.17 % 11.26 % 7.48 %
Q3 2019 33.62 % 10.70 % 7.43 %
Q4 2019 32.07 % 11.82 % 7.93 %
Q1 2020 33.68 % 12.04 % 8.14 %
Q2 2020 33.67 % 12.56 % 8.44 %
Q3 2020 35.55 % 12.80 % 8.88 %
Q4 2020 37.04 % 12.94 % 9.20 %
Q1 2021 36.48 % 13.25 % 9.54 %
Q2 2021 39.00 % 13.02 % 9.36 %
Q3 2021 38.35 % 12.96 % 9.32 %
Q4 2021 37.31 % 12.44 % 8.29 %
2021 37.31 % 12.44 % 8.29 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2012 - - - -
Q2 2012 - - - -
Q3 2012 - - - -
Q4 2012 - - - -
Q1 2013 - - - -
Q2 2013 - - - -
Q3 2013 - - - -
Q4 2013 - - - -
Q1 2014 - - - -
Q2 2014 - - - -
Q3 2014 - - - -
Q4 2014 - - - -
Q1 2015 - - - -
Q2 2015 - - - -
Q3 2015 10.13 - - 16.39
Q4 2015 10.13 - - 17.16
Q1 2016 10.13 - - 17.75
Q2 2016 10.13 3.61 3.61 16.68
Q3 2016 10.13 3.25 3.25 17.39
Q4 2016 10.13 3.28 3.28 18.32
Q1 2017 10.13 3.32 3.32 18.93
Q2 2017 10.13 3.40 3.40 18.04
Q3 2017 10.13 3.08 3.08 18.33
Q4 2017 10.13 2.42 2.42 18.85
Q1 2018 10.13 2.44 2.44 19.49
Q2 2018 10.13 1.83 1.83 18.31
Q3 2018 10.13 1.80 1.80 18.68
Q4 2018 10.13 2.02 2.02 19.17
Q1 2019 10.13 2.07 2.07 19.86
Q2 2019 10.13 2.08 2.08 18.89
Q3 2019 10.13 2.02 2.02 19.20
Q4 2019 10.13 2.04 2.04 17.89
Q1 2020 10.13 2.22 2.22 18.77
Q2 2020 10.13 2.34 2.34 17.82
Q3 2020 10.13 2.52 2.52 18.30
Q4 2020 10.13 2.59 2.59 18.88
Q1 2021 10.13 2.68 2.68 19.85
Q2 2021 10.13 2.51 2.51 18.59
Q3 2021 10.13 2.44 2.44 19.00
Q4 2021 10.13 2.13 2.13 19.17

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2012 - - -
Q2 2012 - - -
Q3 2012 - - -
Q4 2012 - - -
Q1 2013 - - -
Q2 2013 - - -
Q3 2013 - - -
Q4 2013 - - -
Q1 2014 - - -
Q2 2014 - - -
Q3 2014 - - -
Q4 2014 - - -
Q1 2015 - - -
Q2 2015 - - -
Q3 2015 - - -
Q4 2015 - - -
Q1 2016 - - -
Q2 2016 - - -
Q3 2016 - - -
Q4 2016 - - -
Q1 2017 10.47 10.47 1.84
Q2 2017 7.68 7.68 1.45
Q3 2017 8.07 8.07 1.35
Q4 2017 11.43 11.43 1.47
Q1 2018 9.82 9.82 1.23
Q2 2018 14.58 14.58 1.46
Q3 2018 13.59 13.59 1.31
Q4 2018 14.41 14.41 1.52
Q1 2019 14.08 14.08 1.47
Q2 2019 14.26 14.26 1.57
Q3 2019 14.55 14.55 1.53
Q4 2019 21.04 21.04 2.40
Q1 2020 15.93 15.93 1.89
Q2 2020 20.76 20.76 2.73
Q3 2020 23.97 23.97 3.30
Q4 2020 34.79 34.79 4.78
Q1 2021 40.08 40.08 5.41
Q2 2021 57.85 57.85 7.83
Q3 2021 51.57 51.57 6.64
Q4 2021 52.93 52.93 5.88


Financial Ratios
Current
Market Cap (M Riyal) 625.02
Enterprise Value (EV) (M) 596.57
Shares Outstanding ((M)) 10.13
EPS ( Riyal) (TTM) 2.10
Book Value (BV) ( Riyal) 20.01
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 29.44
P/E (TTM) 29.44
Price/book 3.09
Return on Average Assets (%) (TTM) 8.4
Return on Average Equity (%) (TTM) 10.6
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Share Price

Baazeem Trading Co.
61.70
0.30 0.49 %

Baazeem Trading Co. (BAAZEEM)

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