Baazeem Q1 2022 net profit down 9% to SAR 8.9 mln

Baazeem Q1 2022 net profit down 9% to SAR 8.9 mln

19/05/2022 Argaam Exclusive

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Baazeem Trading Co. reported a decline of 9% in Q1 2022 net profit after Zakat and tax to SAR 8.9 million, compared to SAR 9.8 million in the first quarter of 2021, on the back of a 6.76% drop year-on-year (YoY) in sales. 



Current Quarter Comparison (M)

Compared With The
Item Q1 2021 Q1 2022 Change‬
Revenues 79.84 74.44 (6.8 %)
Gross Income 29.09 26.62 (8.5 %)
Operating Income 11.31 10.07 (11.0 %)
Net Income 9.78 8.89 (9.1 %)
Average Shares 101.25 101.25 -
EPS (Riyals) 0.10 0.09 (9.1 %)

Compared to Q4 2021, net profit after Zakat and tax climbed 54.4% from SAR 5.76 million, driven by higher sales during the holy month of Ramadan, and Zakat differentials of SAR 2.27 million for the period from 2014-2018, which were recognized in Q4 2021.

 

Shareholders’ equity, after minority interest, declined 1% to SAR 200.988 million by the end of the three-month period, from SAR 202.977 million a year earlier.

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Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
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 - 12.20 -
Q4 2015 104.19 - 45.12 - 9.27 -
Q1 2016 77.45 - 33.22 - 6.62 -
Q2 2016 96.96 - 41.83 - 13.51 -
Q3 2016 75.39 (2.4 %) 31.35 (7.4 %) 6.39 (47.6 %)
Q4 2016 93.68 (10.1 %) 42.49 (5.8 %) 8.53 (7.9 %)
Q1 2017 76.35 (1.4 %) 26.08 (21.5 %) 6.97 5.4 %
Q2 2017 95.25 (1.8 %) 48.57 16.1 % 13.08 (3.2 %)
Q3 2017 66.28 (12.1 %) 25.54 (18.5 %) 4.78 (25.2 %)
Q4 2017 92.66 (1.1 %) 37.10 (12.7 %) 5.53 (35.2 %)
Q1 2018 71.36 (6.5 %) 28.69 10.0 % 7.50 7.6 %
Q2 2018 81.36 (14.6 %) 36.62 (24.6 %) 7.07 (45.9 %)
Q3 2018 65.86 (0.6 %) 26.65 4.3 % 5.52 15.5 %
Q4 2018 83.83 (9.5 %) 32.44 (12.6 %) 7.47 35.1 %
Q1 2019 64.69 (9.4 %) 21.41 (25.4 %) 8.72 16.2 %
Q2 2019 66.71 (18.0 %) 21.18 (42.2 %) 6.90 (2.5 %)
Q3 2019 60.16 (8.7 %) 17.56 (34.1 %) 4.59 (16.9 %)
Q4 2019 68.70 (18.0 %) 23.31 (28.1 %) 7.61 2.0 %
Q1 2020 80.87 25.0 % 31.05 45.1 % 10.62 21.8 %
Q2 2020 71.75 7.6 % 22.84 7.9 % 8.30 20.3 %
Q3 2020 66.00 9.7 % 24.95 42.0 % 6.38 39.0 %
Q4 2020 66.86 (2.7 %) 26.89 15.4 % 7.10 (6.7 %)
Q1 2021 79.84 (1.3 %) 29.09 (6.3 %) 11.31 6.5 %
Q2 2021 59.38 (17.2 %) 25.18 10.2 % 6.01 (27.5 %)
Q3 2021 59.52 (9.8 %) 20.70 (17.0 %) 4.82 (24.5 %)
Q4 2021 61.18 (8.5 %) 22.01 (18.1 %) 5.72 (19.4 %)
Q1 2022 74.44 (6.8 %) 26.62 (8.5 %) 10.07 (11.0 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2013 - - - - - -
Q2 2013 - - - - - -
Q3 2013 - - - - - -
Q4 2013 - - - - - -
Q1 2014 - - - - - -
Q2 2014 - - - - - -
Q3 2014 - - - - - -
Q4 2014 - - - - - -
Q1 2015 - - - - - -
Q2 2015 - - - - - -
Q3 2015 10.86 - 0.11 - 10.86 0.11
Q4 2015 9.07 - 0.09 - 9.07 0.09
Q1 2016 5.89 - 0.06 - 5.89 0.06
Q2 2016 10.70 - 0.11 - 10.70 0.11
Q3 2016 7.23 (33.5 %) 0.07 - 7.23 0.07
Q4 2016 9.38 3.4 % 0.09 - 9.38 0.09
Q1 2017 6.36 7.9 % 0.06 - 6.36 0.06
Q2 2017 11.45 7.0 % 0.11 - 11.45 0.11
Q3 2017 3.95 (45.4 %) 0.04 - 3.95 0.04
Q4 2017 2.80 (70.2 %) 0.03 - 2.80 0.03
Q1 2018 6.47 1.7 % 0.06 - 6.47 0.06
Q2 2018 5.34 (53.4 %) 0.05 - 5.34 0.05
Q3 2018 3.66 (7.3 %) 0.04 - 3.66 0.04
Q4 2018 4.99 78.4 % 0.05 - 4.99 0.05
Q1 2019 7.02 8.5 % 0.07 - 7.02 0.07
Q2 2019 5.36 0.4 % 0.05 - 5.36 0.05
Q3 2019 3.11 (15.1 %) 0.03 - 3.11 0.03
Q4 2019 5.14 3.1 % 0.05 - 5.14 0.05
Q1 2020 8.91 26.9 % 0.09 - 8.91 0.09
Q2 2020 6.59 22.9 % 0.07 - 6.59 0.07
Q3 2020 4.89 57.5 % 0.05 - 4.89 0.05
Q4 2020 5.88 14.4 % 0.06 - 5.88 0.06
Q1 2021 9.78 9.9 % 0.10 - 9.78 0.10
Q2 2021 4.91 (25.5 %) 0.05 - 4.91 0.05
Q3 2021 4.18 (14.5 %) 0.04 - 4.18 0.04
Q4 2021 2.68 (54.4 %) 0.03 - 2.68 0.03
Q1 2022 8.89 (9.1 %) 0.09 - 8.89 0.09

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
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 % 8.70 % 5.95 %
Q3 2018 41.47 % 9.23 % 5.87 %
Q4 2018 41.14 % 9.79 % 6.76 %
Q1 2019 39.60 % 10.34 % 7.10 %
Q2 2019 36.17 % 10.89 % 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 % 8.43 %
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 %
Q1 2022 37.14 % 12.19 % 8.12 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2013 - - - -
Q2 2013 - - - -
Q3 2013 - - - -
Q4 2013 - - - -
Q1 2014 - - - -
Q2 2014 - - - -
Q3 2014 - - - -
Q4 2014 - - - -
Q1 2015 - - - -
Q2 2015 - - - -
Q3 2015 101.25 - - 1.64
Q4 2015 101.25 - - 1.72
Q1 2016 101.25 - - 1.77
Q2 2016 101.25 0.36 0.36 1.67
Q3 2016 101.25 0.32 0.32 1.74
Q4 2016 101.25 0.33 0.33 1.83
Q1 2017 101.25 0.33 0.33 1.89
Q2 2017 101.25 0.34 0.34 1.80
Q3 2017 101.25 0.31 0.31 1.83
Q4 2017 101.25 0.24 0.24 1.88
Q1 2018 101.25 0.24 0.24 1.95
Q2 2018 101.25 0.18 0.18 1.83
Q3 2018 101.25 0.18 0.18 1.87
Q4 2018 101.25 0.20 0.20 1.92
Q1 2019 101.25 0.21 0.21 1.99
Q2 2019 101.25 0.21 0.21 1.89
Q3 2019 101.25 0.20 0.20 1.92
Q4 2019 101.25 0.20 0.20 1.79
Q1 2020 101.25 0.22 0.22 1.88
Q2 2020 101.25 0.23 0.23 1.78
Q3 2020 101.25 0.25 0.25 1.83
Q4 2020 101.25 0.26 0.26 1.89
Q1 2021 101.25 0.27 0.27 1.99
Q2 2021 101.25 0.25 0.25 1.86
Q3 2021 101.25 0.24 0.24 1.90
Q4 2021 101.25 0.21 0.21 1.92
Q1 2022 101.25 0.20 0.20 2.00

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
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 10.46 10.46 1.84
Q2 2017 7.68 7.68 1.45
Q3 2017 8.06 8.06 1.35
Q4 2017 11.42 11.42 1.47
Q1 2018 9.81 9.81 1.23
Q2 2018 14.57 14.57 1.46
Q3 2018 13.58 13.58 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 14.54 14.54 1.53
Q4 2019 21.03 21.03 2.40
Q1 2020 15.92 15.92 1.89
Q2 2020 20.75 20.75 2.73
Q3 2020 23.96 23.96 3.30
Q4 2020 34.77 34.77 4.78
Q1 2021 40.06 40.06 5.41
Q2 2021 57.82 57.82 7.82
Q3 2021 51.54 51.54 6.63
Q4 2021 52.90 52.90 5.87
Q1 2022 48.96 48.96 4.98


Financial Ratios
Current
Market Cap (M Riyal) 712.80
Enterprise Value (EV) (M) 699.14
Shares Outstanding ((M)) 101.25
EPS ( Riyal) (TTM) 0.22
Book Value (BV) ( Riyal) 1.92
Par Value ( Riyal) 1.00
Adjusted P/E (Last12) 32.08
P/E (TTM) 32.08
Price/book 3.68
Return on Average Assets (%) (TTM) 9.1
Return on Average Equity (%) (TTM) 11.6
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Share Price

Baazeem Trading Co.
7.04
0.24 3.53 %

Baazeem Trading Co. (BAAZEEM)

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