Abo Moati reports net profit of SAR 2.7 mln for Q1 2023/2024

02/08/2023 Argaam Exclusive

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Abdullah Saad Mohammed Abo Moati for Bookstores Co. reported a net profit of SAR 2.7 million for the first quarter ended June 30, 2023, a decline of 38% compared to SAR 4.3 million in a year-earlier period.

This was driven by a 20.73% year-on-year (YoY) decline in sales, and lower subsidiary sales.

On a quarterly basis, the company turned to profit in Q1 2023/2024, versus a net loss of SAR 8.22 million, backed by lower operating expenses and goodwill impairment losses.

Current Quarter Comparison (M)

Compared With The

Item	Q1 2022	Q1 2023	Change‬
Revenues	62.94	49.89	(20.7 %)
Gross Income	16.43	13.71	(16.6 %)
Operating Income	4.66	2.50	(46.2 %)
Net Income	4.32	2.69	(37.7 %)
Average Shares	20.00	20.00	-
EPS (Riyals)	0.22	0.13	(37.7 %)

Item	Q4 2022	Q1 2023	Change‬
Revenues	63.37	49.89	(21.3 %)
Gross Income	16.81	13.71	(18.4 %)
Operating Income	3.72	2.50	(32.7 %)
Net Income	(8.22)	2.69	132.7 %
Average Shares	20.00	20.00	-
EPS (Riyals)	(0.41)	0.13	132.7 %

Shareholders’ equity, no minority interest, reached SAR 245.61 million at the end of the three-month period, compared to SAR 240.56 million a year earlier.

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Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
Q1 2014	-	-	-	-	-	-
Q2 2014	-	-	-	-	-	-
Q3 2014	-	-	-	-	-	-
Q4 2014	-	-	-	-	-	-
2014	508.30	-	57.11	-	32.29	-
Q1 2015	110.07	-	12.04	-	5.55	-
Q2 2015	118.38	-	15.11	-	9.52	-
Q3 2015	-	-	-	-	-	-
Q4 2015	-	-	-	-	-	-
2015	440.16	(13.4 %)	50.34	(11.9 %)	24.30	(24.8 %)
Q1 2016	73.59	(33.1 %)	7.41	(38.4 %)	1.54	(72.2 %)
Q2 2016	93.62	(20.9 %)	10.55	(30.2 %)	4.95	(48.0 %)
Q3 2016	101.08	-	15.77	-	8.42	-
Q4 2016	114.04	-	16.05	-	8.25	-
2016	382.33	(13.1 %)	49.78	(1.1 %)	23.45	(3.5 %)
Q1 2017	52.51	(28.7 %)	9.15	23.4 %	2.43	57.6 %
Q2 2017	74.75	(20.2 %)	15.12	43.3 %	6.91	39.5 %
Q3 2017	96.67	(4.4 %)	14.86	(5.8 %)	7.72	(8.3 %)
Q4 2017	78.94	(30.8 %)	15.50	(3.4 %)	4.80	(41.8 %)
2017	302.87	(20.8 %)	54.63	9.7 %	21.87	(6.7 %)
Q1 2018	47.70	(9.1 %)	8.66	(5.3 %)	1.95	(19.8 %)
Q2 2018	92.81	24.2 %	18.60	23.0 %	8.30	20.1 %
Q3 2018	99.17	2.6 %	17.62	18.5 %	7.47	(3.3 %)
Q4 2018	77.18	(2.2 %)	16.76	8.1 %	6.39	33.0 %
2018	316.86	4.6 %	61.63	12.8 %	24.11	10.2 %
Q1 2019	44.32	(7.1 %)	9.14	5.5 %	2.01	2.8 %
Q2 2019	92.63	(0.2 %)	17.83	(4.2 %)	7.11	(14.4 %)
Q3 2019	84.59	(14.7 %)	17.29	(1.9 %)	5.86	(21.5 %)
Q4 2019	75.53	(2.1 %)	15.92	(5.0 %)	4.68	(26.7 %)
2019	297.07	(6.2 %)	60.17	(2.4 %)	19.66	(18.5 %)
Q1 2020	36.16	(18.4 %)	7.90	(13.6 %)	1.32	(34.0 %)
Q2 2020	60.26	(34.9 %)	12.40	(30.4 %)	1.88	(73.5 %)
Q3 2020	68.39	(19.2 %)	13.89	(19.6 %)	4.21	(28.2 %)
Q4 2020	65.21	(13.7 %)	12.91	(18.9 %)	(1.78)	(138.1 %)
2020	230.03	(22.6 %)	47.10	(21.7 %)	5.63	(71.3 %)
Q1 2021	45.38	25.5 %	10.49	32.8 %	2.00	50.8 %
Q2 2021	72.95	21.0 %	17.59	41.9 %	6.68	255.2 %
Q3 2021	90.46	32.3 %	19.37	39.4 %	8.18	94.2 %
Q4 2021	73.51	12.7 %	17.41	34.8 %	5.66	417.2 %
2021	282.30	22.7 %	64.86	37.7 %	22.52	299.7 %
Q1 2022	62.94	38.7 %	16.43	56.7 %	4.66	133.3 %
Q2 2022	101.78	39.5 %	27.08	53.9 %	13.99	109.4 %
Q3 2022	86.29	(4.6 %)	20.09	3.7 %	8.35	2.1 %
Q4 2022	63.37	(13.8 %)	16.81	(3.5 %)	3.72	(34.3 %)
2022	314.38	11.4 %	80.41	24.0 %	30.72	36.4 %
Q1 2023	49.89	(20.7 %)	13.71	(16.6 %)	2.50	(46.2 %)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2013	-	-	-	-	-	-
2014	508.30	-	57.11	-	32.29	-
2015	440.16	(13.4 %)	50.34	(11.9 %)	24.30	(24.8 %)
2016	382.33	(13.1 %)	49.78	(1.1 %)	23.45	(3.5 %)
2017	302.87	(20.8 %)	54.63	9.7 %	21.87	(6.7 %)
2018	316.86	4.6 %	61.63	12.8 %	24.11	10.2 %
2019	297.07	(6.2 %)	60.17	(2.4 %)	19.66	(18.5 %)
2020	230.03	(22.6 %)	47.10	(21.7 %)	5.63	(71.3 %)
2021	282.30	22.7 %	64.86	37.7 %	22.52	299.7 %
2022	314.38	11.4 %	80.41	24.0 %	30.72	36.4 %

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
Q1 2014	-	-	-	-	-	-
Q2 2014	-	-	-	-	-	-
Q3 2014	-	-	-	-	-	-
Q4 2014	-	-	-	-	-	-
2014	27.55	-	1.38	-	27.55	1.38
Q1 2015	4.42	-	0.22	-	4.42	0.22
Q2 2015	8.06	-	0.40	-	8.06	0.40
Q3 2015	-	-	-	-	-	-
Q4 2015	-	-	-	-	-	-
2015	19.43	(29.5 %)	0.97	-	19.43	0.97
Q1 2016	1.20	(72.8 %)	0.06	-	1.20	0.06
Q2 2016	3.82	(52.6 %)	0.19	-	3.82	0.19
Q3 2016	7.45	-	0.37	-	7.45	0.37
Q4 2016	7.11	-	0.36	-	7.11	0.36
2016	20.19	3.9 %	1.01	-	20.19	1.01
Q1 2017	1.43	18.8 %	0.07	-	1.43	0.07
Q2 2017	4.99	30.6 %	0.25	-	4.99	0.25
Q3 2017	7.04	(5.4 %)	0.35	-	7.04	0.35
Q4 2017	4.67	(34.3 %)	0.23	-	4.67	0.23
2017	18.13	(10.2 %)	0.91	-	18.13	0.91
Q1 2018	1.54	8.2 %	0.08	-	1.54	0.08
Q2 2018	5.87	17.5 %	0.29	-	5.87	0.29
Q3 2018	6.19	(12.1 %)	0.31	-	6.19	0.31
Q4 2018	4.62	(1.2 %)	0.23	-	4.62	0.23
2018	18.21	0.5 %	0.91	-	18.21	0.91
Q1 2019	0.99	(35.9 %)	0.05	-	0.99	0.05
Q2 2019	4.36	(25.7 %)	0.22	-	4.36	0.22
Q3 2019	4.78	(22.9 %)	0.24	-	4.78	0.24
Q4 2019	3.75	(18.7 %)	0.19	-	3.75	0.19
2019	13.88	(23.8 %)	0.69	-	13.88	0.69
Q1 2020	(1.80)	(282.0 %)	(0.09)	(2.52)	0.72	0.04
Q2 2020	3.30	(24.2 %)	0.17	-	3.30	0.17
Q3 2020	3.00	(37.3 %)	0.15	-	3.00	0.15
Q4 2020	0.84	(77.8 %)	0.04	-	0.84	0.04
2020	5.33	(61.6 %)	0.27	(2.52)	7.85	0.39
Q1 2021	1.91	206.1 %	0.10	-	1.91	0.10
Q2 2021	5.31	60.9 %	0.27	-	5.31	0.27
Q3 2021	7.20	140.4 %	0.36	-	7.20	0.36
Q4 2021	0.68	(18.3 %)	0.03	(5.45)	6.13	0.31
2021	15.10	183.3 %	0.76	(5.45)	20.56	1.03
Q1 2022	4.32	125.9 %	0.22	-	4.32	0.22
Q2 2022	12.81	141.2 %	0.64	-	12.81	0.64
Q3 2022	8.02	11.3 %	0.40	-	8.02	0.40
Q4 2022	(8.22)	(1305.8 %)	(0.41)	(12.40)	4.18	0.21
2022	16.92	12.0 %	0.85	(12.40)	29.32	1.47
Q1 2023	2.69	(37.7 %)	0.13	-	2.69	0.13

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2013	-	-	-	-	-	-
2014	27.55	-	1.38	-	27.55	1.38
2015	19.43	(29.5 %)	0.97	-	19.43	0.97
2016	20.19	3.9 %	1.01	-	20.19	1.01
2017	18.13	(10.2 %)	0.91	-	18.13	0.91
2018	18.21	0.5 %	0.91	-	18.21	0.91
2019	13.88	(23.8 %)	0.69	-	13.88	0.69
2020	5.33	(61.6 %)	0.27	(2.52)	7.85	0.39
2021	15.10	183.3 %	0.76	(5.45)	20.56	1.03
2022	16.92	12.0 %	0.85	(12.40)	29.32	1.47

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2014	-	-	-
Q2 2014	-	-	-
Q3 2014	-	-	-
Q4 2014	-	-	-
2014	11.23 %	6.71 %	5.42 %
Q1 2015	-	-	-
Q2 2015	-	-	-
Q3 2015	-	-	-
Q4 2015	-	-	-
2015	11.44 %	5.87 %	4.41 %
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	-	-	-
Q4 2016	13.02 %	6.71 %	5.12 %
2016	13.02 %	6.79 %	5.28 %
Q1 2017	14.26 %	7.35 %	5.48 %
Q2 2017	16.38 %	8.31 %	6.13 %
Q3 2017	16.32 %	8.27 %	6.09 %
Q4 2017	18.04 %	8.13 %	5.99 %
2017	18.04 %	8.13 %	5.99 %
Q1 2018	18.16 %	8.12 %	6.12 %
Q2 2018	18.23 %	8.11 %	6.05 %
Q3 2018	18.95 %	7.95 %	5.73 %
Q4 2018	19.45 %	8.51 %	5.75 %
2018	19.45 %	8.51 %	5.75 %
Q1 2019	19.81 %	8.81 %	5.63 %
Q2 2019	19.58 %	8.63 %	5.16 %
Q3 2019	20.42 %	8.77 %	4.93 %
Q4 2019	20.25 %	8.60 %	4.67 %
2019	20.25 %	8.60 %	4.67 %
Q1 2020	20.40 %	8.75 %	4.71 %
Q2 2020	20.85 %	7.99 %	4.89 %
Q3 2020	20.85 %	7.93 %	4.48 %
Q4 2020	20.48 %	5.99 %	3.41 %
2020	20.48 %	5.99 %	3.41 %
Q1 2021	20.77 %	6.35 %	3.78 %
Q2 2021	21.79 %	8.30 %	4.39 %
Q3 2021	22.03 %	9.47 %	5.57 %
Q4 2021	22.98 %	11.74 %	7.28 %
2021	22.98 %	11.74 %	7.28 %
Q1 2022	23.61 %	12.06 %	7.66 %
Q2 2022	24.43 %	13.32 %	9.27 %
Q3 2022	24.96 %	13.65 %	9.64 %
Q4 2022	25.58 %	13.60 %	9.33 %
2022	25.58 %	13.60 %	9.33 %
Q1 2023	25.78 %	13.65 %	9.19 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2013	-	-	-
2014	11.23 %	6.71 %	5.42 %
2015	11.44 %	5.87 %	4.41 %
2016	13.02 %	6.79 %	5.28 %
2017	18.04 %	8.13 %	5.99 %
2018	19.45 %	8.51 %	5.75 %
2019	20.25 %	8.60 %	4.67 %
2020	20.48 %	5.99 %	3.41 %
2021	22.98 %	11.74 %	7.28 %
2022	25.58 %	13.60 %	9.33 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2014	-	-	-
Q2 2014	-	-	-
Q3 2014	-	-	-
Q4 2014	-	-	-
Q1 2015	10.94 %	-	4.01 %
Q2 2015	12.77 %	-	6.81 %
Q3 2015	-	-	-
Q4 2015	-	-	-
Q1 2016	10.07 %	2.96 %	1.63 %
Q2 2016	11.27 %	6.02 %	4.08 %
Q3 2016	15.61 %	8.95 %	7.37 %
Q4 2016	14.07 %	7.72 %	6.24 %
Q1 2017	17.42 %	5.82 %	2.71 %
Q2 2017	20.22 %	10.10 %	6.68 %
Q3 2017	15.38 %	8.81 %	7.28 %
Q4 2017	19.64 %	6.97 %	5.92 %
Q1 2018	18.16 %	5.51 %	3.23 %
Q2 2018	20.04 %	9.69 %	6.32 %
Q3 2018	17.76 %	8.27 %	6.24 %
Q4 2018	21.71 %	9.25 %	5.98 %
Q1 2019	20.61 %	7.43 %	2.23 %
Q2 2019	19.24 %	9.08 %	4.70 %
Q3 2019	20.43 %	8.71 %	5.65 %
Q4 2019	21.08 %	8.57 %	4.97 %
Q1 2020	21.84 %	8.42 %	1.99 %
Q2 2020	20.57 %	5.99 %	5.48 %
Q3 2020	20.31 %	8.68 %	4.38 %
Q4 2020	19.80 %	1.82 %	1.28 %
Q1 2021	23.11 %	9.80 %	4.21 %
Q2 2021	24.12 %	12.79 %	7.28 %
Q3 2021	21.41 %	12.14 %	7.96 %
Q4 2021	23.68 %	11.41 %	8.34 %
Q1 2022	26.10 %	11.85 %	6.86 %
Q2 2022	26.61 %	16.66 %	12.59 %
Q3 2022	23.28 %	13.30 %	9.29 %
Q4 2022	26.52 %	10.84 %	6.59 %
Q1 2023	27.48 %	11.68 %	5.39 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2014	-	-	-	-
Q2 2014	-	-	-	-
Q3 2014	-	-	-	-
Q4 2014	-	-	-	-
Q1 2015	20.00	-	-	-
Q2 2015	20.00	-	-	10.13
Q3 2015	-	-	-	-
Q4 2015	-	-	-	-
Q1 2016	20.00	-	-	10.00
Q2 2016	20.00	-	-	10.24
Q3 2016	20.00	-	-	10.17
Q4 2016	20.00	0.98	0.98	10.52
Q1 2017	20.00	0.99	0.99	10.61
Q2 2017	20.00	1.05	1.05	10.87
Q3 2017	20.00	1.03	1.03	10.82
Q4 2017	20.00	0.91	0.91	11.01
Q1 2018	20.00	0.91	0.91	11.09
Q2 2018	20.00	0.96	0.96	10.94
Q3 2018	20.00	0.91	0.91	11.28
Q4 2018	20.00	0.91	0.91	11.53
Q1 2019	20.00	0.88	0.88	11.60
Q2 2019	20.00	0.81	0.81	11.40
Q3 2019	20.00	0.74	0.74	11.65
Q4 2019	20.00	0.69	0.69	11.78
Q1 2020	20.00	0.55	0.68	11.73
Q2 2020	20.00	0.50	0.63	11.48
Q3 2020	20.00	0.41	0.54	11.60
Q4 2020	20.00	0.27	0.39	11.63
Q1 2021	20.00	0.45	0.45	11.79
Q2 2021	20.00	0.55	0.55	11.55
Q3 2021	20.00	0.76	0.76	11.88
Q4 2021	20.00	0.76	1.03	11.89
Q1 2022	20.00	0.88	1.15	12.03
Q2 2022	20.00	1.25	1.52	12.18
Q3 2022	20.00	1.29	1.56	12.54
Q4 2022	20.00	0.85	1.47	12.14
Q1 2023	20.00	0.76	1.38	12.28

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2013	-	-	-	-
2014	20.00	1.38	1.38	9.56
2015	20.00	0.97	0.97	9.98
2016	20.00	1.01	1.01	10.52
2017	20.00	0.91	0.91	11.01
2018	20.00	0.91	0.91	11.53
2019	20.00	0.69	0.69	11.78
2020	20.00	0.27	0.39	11.63
2021	20.00	0.76	1.03	11.89
2022	20.00	0.85	1.47	12.14

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
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	13.74	13.74	1.28
Q2 2017	9.99	9.99	0.96
Q3 2017	9.18	9.18	0.87
Q4 2017	11.21	11.21	0.92
Q1 2018	10.05	10.05	0.83
Q2 2018	9.52	9.52	0.83
Q3 2018	8.34	8.34	0.68
Q4 2018	10.77	10.77	0.85
Q1 2019	12.68	12.68	0.97
Q2 2019	17.33	17.33	1.23
Q3 2019	15.60	15.60	0.99
Q4 2019	27.64	27.64	1.63
Q1 2020	23.13	18.84	1.09
Q2 2020	32.54	26.01	1.42
Q3 2020	74.18	56.82	2.64
Q4 2020	More than 100	More than 100	4.60
Q1 2021	More than 100	More than 100	4.38
Q2 2021	96.82	96.82	4.63
Q3 2021	65.42	65.42	4.20
Q4 2021	51.31	37.70	3.26
Q1 2022	43.41	33.10	3.16
Q2 2022	22.99	18.88	2.36
Q3 2022	24.09	19.89	2.48
Q4 2022	30.09	17.36	2.10
Q1 2023	38.39	21.20	2.39

Period	P/E	Adjusted P/E	Price/book
2013	-	-	-
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	11.21	11.21	0.92
2018	10.77	10.77	0.85
2019	27.64	27.64	1.63
2020	More than 100	More than 100	4.60
2021	51.31	37.70	3.26
2022	30.09	17.36	2.10

Business Segments (Million)

Compared With The

Period	Retail and wholesale	Inks segment	Head office and leasing and others
Q3 2019	55.46	29.13	-
Q4 2019	48.80	26.73	-
Q1 2020	22.55	13.61	0.37
Q3 2020	40.21	28.18	-
Q4 2020	34.88	30.33	-
Q1 2021	28.83	16.55	-
Q2 2021	55.07	17.88	-
Q3 2021	56.36	34.10	-
Q4 2021	62.11	11.40	-
Q1 2022	48.57	14.37	-
Q2 2022	85.83	15.95	-
Q3 2022	77.78	8.51	-
Q4 2022	62.28	1.09	-
Q1 2023	48.86	1.03	-

Period	Retail and wholesale	Inks segment	Head office and leasing and others
2019	194.77	102.30	-
2020	133.75	96.28	-
2021	202.36	79.93	-
2022	274.45	39.92	-

Financial Ratios

	Current
Market Cap (M Riyal)	610.00
Enterprise Value (EV) (M)	657.34
Shares Outstanding ((M))	20.00
EPS ( Riyal) (TTM)	1.19
Book Value (BV) ( Riyal)	12.05
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	29.30
P/E (TTM)	25.63
Price/book	2.53
Return on Average Assets (%) (TTM)	7.1
Return on Average Equity (%) (TTM)	9.9

Abdullah Saad Mohammed Abo Moati for Bookstores Co. (ABO MOATI)

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Abo Moati reports net profit of SAR 2.7 mln for Q1 2023/2024

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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

Business Segments (Million)

Revenue by Business Segment (Latest) 2023 Q1

Financial Ratios

Share Price

Abdullah Saad Mohammed Abo Moati for Bookstores Co. (ABO MOATI)

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Abo Moati reports net profit of SAR 2.7 mln for Q1 2023/2024

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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

Business Segments (Million) Q1 2023

Revenue by Business Segment (Latest) 2023 Q1

Financial Ratios

Share Price

Abdullah Saad Mohammed Abo Moati for Bookstores Co. (ABO MOATI)

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Business Segments (Million)