Baazeem H1 2022 profit drops 9% to SAR 13.4 mln; Q2 down 7% to SAR 4.6 mln

09/08/2022 Argaam Exclusive

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Baazeem Trading Co. posted a decline of 9% in H1 2022 net profit after Zakat and tax to SAR 13.4 million, compared to SAR 14.7 million a year earlier, due to a 4.54% decline year-on-year (YoY) in sales.

Financials (M)

Item	6m 2021	6m 2022	Change‬
Revenues	139.21	132.89	(4.5 %)
Gross Income	54.27	49.68	(8.5 %)
Operating Income	17.32	15.36	(11.3 %)
Net Income	14.69	13.44	(8.5 %)
Average Shares	101.25	101.25	-
EPS (Riyals)	0.15	0.13	(8.5 %)

In Q2 2022, net profit after Zakat and tax decreased by 7% to SAR 4.6 million, from SAR 4.9 million in the prior-year period, as the company’s sales shrank by 1.55% YoY.

Compared to the previous quarter, net profit plunged 48.8% from SAR 8.89 million.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2021	Q2 2022	Change‬
Revenues	59.38	58.45	(1.6 %)
Gross Income	25.18	23.06	(8.4 %)
Operating Income	6.01	5.29	(11.9 %)
Net Income	4.91	4.55	(7.2 %)
Average Shares	101.25	101.25	-
EPS (Riyals)	0.05	0.04	(7.2 %)

Item	Q1 2022	Q2 2022	Change‬
Revenues	74.44	58.45	(21.5 %)
Gross Income	26.62	23.06	(13.4 %)
Operating Income	10.07	5.29	(47.4 %)
Net Income	8.89	4.55	(48.8 %)
Average Shares	101.25	101.25	-
EPS (Riyals)	0.09	0.04	(48.8 %)

Shareholders’ equity, after minority interest, saw a slight decline of 0.87% to SAR 189.810 million by the end of the six-month period, from SAR 188.176 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	-	-	-	-	-	-
2013	300.33	-	120.43	-	37.40	-
Q1 2014	-	-	-	-	-	-
Q2 2014	-	-	-	-	-	-
Q3 2014	-	-	-	-	-	-
Q4 2014	-	-	-	-	-	-
2014	316.51	5.4 %	128.31	6.5 %	38.12	1.9 %
Q1 2015	-	-	-	-	-	-
Q2 2015	-	-	-	-	-	-
Q3 2015	77.25	-	33.87	-	12.20	-
Q4 2015	104.19	-	45.12	-	9.27	-
2015	344.39	8.8 %	146.58	14.2 %	41.00	7.5 %
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 %)
2016	343.48	(0.3 %)	148.90	1.6 %	35.04	(14.5 %)
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 %)
2017	330.53	(3.8 %)	126.05	(15.3 %)	30.35	(13.4 %)
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 %
2018	302.41	(8.5 %)	124.40	(1.3 %)	27.56	(9.2 %)
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 %
2019	260.26	(13.9 %)	83.46	(32.9 %)	27.81	0.9 %
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 %)
2020	285.48	9.7 %	110.72	32.7 %	32.39	16.5 %
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 %)
2021	259.91	(9.0 %)	96.98	(12.4 %)	27.86	(14.0 %)
Q1 2022	74.44	(6.8 %)	26.62	(8.5 %)	10.07	(11.0 %)
Q2 2022	58.45	(1.6 %)	23.06	(8.4 %)	5.29	(11.9 %)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2012	-	-	-	-	-	-
2013	300.33	-	120.43	-	37.40	-
2014	316.51	5.4 %	128.31	6.5 %	38.12	1.9 %
2015	344.39	8.8 %	146.58	14.2 %	41.00	7.5 %
2016	343.48	(0.3 %)	148.90	1.6 %	35.04	(14.5 %)
2017	330.53	(3.8 %)	126.05	(15.3 %)	30.35	(13.4 %)
2018	302.41	(8.5 %)	124.40	(1.3 %)	27.56	(9.2 %)
2019	260.26	(13.9 %)	83.46	(32.9 %)	27.81	0.9 %
2020	285.48	9.7 %	110.72	32.7 %	32.39	16.5 %
2021	259.91	(9.0 %)	96.98	(12.4 %)	27.86	(14.0 %)

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	-	-	-	-	-	-
2013	32.17	-	0.32	-	32.17	0.32
Q1 2014	-	-	-	-	-	-
Q2 2014	-	-	-	-	-	-
Q3 2014	-	-	-	-	-	-
Q4 2014	-	-	-	-	-	-
2014	32.91	2.3 %	0.33	-	32.91	0.33
Q1 2015	-	-	-	-	-	-
Q2 2015	-	-	-	-	-	-
Q3 2015	10.86	-	0.11	-	10.86	0.11
Q4 2015	9.07	-	0.09	-	9.07	0.09
2015	36.91	12.1 %	0.36	-	36.91	0.36
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
2016	33.20	(10.0 %)	0.33	-	33.20	0.33
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
2017	24.55	(26.0 %)	0.24	-	24.55	0.24
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
2018	20.45	(16.7 %)	0.20	-	20.45	0.20
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
2019	20.63	0.8 %	0.20	-	20.63	0.20
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
2020	26.27	27.3 %	0.26	-	26.27	0.26
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
2021	21.55	(18.0 %)	0.21	-	21.55	0.21
Q1 2022	8.89	(9.1 %)	0.09	-	8.89	0.09
Q2 2022	4.55	(7.2 %)	0.04	-	4.55	0.04

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2012	-	-	-	-	-	-
2013	32.17	-	0.32	-	32.17	0.32
2014	32.91	2.3 %	0.33	-	32.91	0.33
2015	36.91	12.1 %	0.36	-	36.91	0.36
2016	33.20	(10.0 %)	0.33	-	33.20	0.33
2017	24.55	(26.0 %)	0.24	-	24.55	0.24
2018	20.45	(16.7 %)	0.20	-	20.45	0.20
2019	20.63	0.8 %	0.20	-	20.63	0.20
2020	26.27	27.3 %	0.26	-	26.27	0.26
2021	21.55	(18.0 %)	0.21	-	21.55	0.21

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2013	-	-	-
Q2 2013	-	-	-
Q3 2013	-	-	-
Q4 2013	-	-	-
2013	40.10 %	-	10.71 %
Q1 2014	-	-	-
Q2 2014	-	-	-
Q3 2014	-	-	-
Q4 2014	-	-	-
2014	40.54 %	12.50 %	10.40 %
Q1 2015	-	-	-
Q2 2015	-	-	-
Q3 2015	-	-	-
Q4 2015	-	-	-
2015	42.56 %	12.27 %	10.72 %
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 %
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 %
2017	38.14 %	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 %
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 %
2019	32.07 %	11.82 %	7.92 %
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 %
2020	38.79 %	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 %
Q1 2022	37.14 %	12.19 %	8.12 %
Q2 2022	36.44 %	11.92 %	8.01 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2012	-	-	-
2013	40.10 %	-	10.71 %
2014	40.54 %	12.50 %	10.40 %
2015	42.56 %	12.27 %	10.72 %
2016	43.35 %	10.63 %	9.67 %
2017	38.14 %	9.84 %	7.43 %
2018	41.14 %	9.79 %	6.76 %
2019	32.07 %	11.82 %	7.92 %
2020	38.79 %	12.94 %	9.20 %
2021	37.31 %	12.44 %	8.29 %

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	43.84 %	-	14.06 %
Q4 2015	43.30 %	9.26 %	8.71 %
Q1 2016	42.90 %	8.96 %	7.61 %
Q2 2016	43.14 %	14.27 %	11.04 %
Q3 2016	41.58 %	8.93 %	9.58 %
Q4 2016	45.36 %	9.59 %	10.01 %
Q1 2017	34.16 %	9.76 %	8.33 %
Q2 2017	51.00 %	14.27 %	12.02 %
Q3 2017	38.53 %	7.51 %	5.95 %
Q4 2017	40.04 %	7.04 %	3.02 %
Q1 2018	40.21 %	11.56 %	9.06 %
Q2 2018	45.01 %	9.06 %	6.56 %
Q3 2018	40.46 %	9.99 %	5.55 %
Q4 2018	38.69 %	8.86 %	5.95 %
Q1 2019	33.09 %	14.25 %	10.85 %
Q2 2019	31.74 %	11.09 %	8.03 %
Q3 2019	29.20 %	9.03 %	5.16 %
Q4 2019	33.93 %	12.70 %	7.48 %
Q1 2020	38.40 %	14.50 %	11.01 %
Q2 2020	31.83 %	13.19 %	9.18 %
Q3 2020	37.80 %	10.39 %	7.41 %
Q4 2020	40.22 %	13.30 %	8.79 %
Q1 2021	36.44 %	15.63 %	12.26 %
Q2 2021	42.40 %	12.12 %	8.26 %
Q3 2021	34.78 %	9.82 %	7.02 %
Q4 2021	35.99 %	11.15 %	4.38 %
Q1 2022	35.76 %	15.00 %	11.95 %
Q2 2022	39.45 %	10.95 %	7.79 %

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
Q2 2022	101.25	0.20	0.20	1.87

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2012	-	-	-	-
2013	101.25	0.32	0.32	1.50
2014	101.25	0.33	0.33	1.59
2015	101.25	0.36	0.36	1.72
2016	101.25	0.33	0.33	1.83
2017	101.25	0.24	0.24	1.88
2018	101.25	0.20	0.20	1.92
2019	101.25	0.20	0.20	1.79
2020	101.25	0.26	0.26	1.89
2021	101.25	0.21	0.21	1.92

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
Q2 2022	32.37	32.37	3.46

Period	P/E	Adjusted P/E	Price/book
2012	-	-	-
2013	-	-	-
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	11.42	11.42	1.47
2018	14.41	14.41	1.52
2019	21.04	21.04	2.40
2020	34.77	34.77	4.78
2021	52.90	52.90	5.87

Financial Ratios

	Current
Market Cap (M Riyal)	704.70
Enterprise Value (EV) (M)	691.04
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)	31.71
P/E (TTM)	31.71
Price/book	3.63
Return on Average Assets (%) (TTM)	9.1
Return on Average Equity (%) (TTM)	11.6

Baazeem Trading Co. (BAAZEEM)

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Baazeem H1 2022 profit drops 9% to SAR 13.4 mln; Q2 down 7% to SAR 4.6 mln

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Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Financial Ratios

Share Price

Baazeem Trading Co. (BAAZEEM)

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Baazeem H1 2022 profit drops 9% to SAR 13.4 mln; Q2 down 7% to SAR 4.6 mln

View other reports

Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Financial Ratios

Share Price

Baazeem Trading Co. (BAAZEEM)

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