Abo Moati H1 2024/25 net profit dips to SAR 12.6M; Q2 at SAR 10.7M

Abo Moati H1 2024/25 net profit dips to SAR 12.6M; Q2 at SAR 10.7M

06/11/2024 Argaam Exclusive

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Abdullah Saad Mohammed Abo Moati for Bookstores Co. reported a net profit of SAR 12.6 million for the six-month period ended Sept. 30, 2024, compared to SAR 15.7 million in the year-earlier period. This was driven by a 2.01% slump in sales revenue, lower retail sales, higher general and administrative expenses (G&As) and increased financing cost (FC).



Financials (M)

Item 6m 2023 6m 2024 Change‬
Revenues 138.94 136.15 (2.0 %)
Gross Income 39.97 40.60 1.6 %
Operating Income 17.47 15.82 (9.4 %)
Net Income 15.74 12.61 (19.9 %)
Average Shares 20.00 20.00 -
EPS (Riyals) 0.79 0.63 (19.9 %)

Q2 2024/25 net profit stood at SAR 10.7 million, a decline of 18% year-on-year (YoY) from SAR 13.05 million, on a 1.59% drop in sales revenue, higher G&As, and increased FC.



Current Quarter Comparison (M)

Compared With The
Item Q2 2023 Q2 2024 Change‬
Revenues 89.06 87.63 (1.6 %)
Gross Income 26.26 26.10 (0.6 %)
Operating Income 14.09 13.06 (7.3 %)
Net Income 13.05 10.65 (18.4 %)
Average Shares 20.00 20.00 -
EPS (Riyals) 0.65 0.53 (18.4 %)

On a sequential basis, net earnings soared from SAR 1.96 million in Q1 2024/25.

 

Total shareholders’ equity (no minority equity) stood at SAR 241.06 million by Sept. 30, 2024, compared to SAR 237.8 million a year earlier.

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Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2015 110.07 - 12.04 - 5.55 -
Q2 2015 118.38 - 15.11 - 9.52 -
Q3 2015 - - - - - -
Q4 2015 - - - - - -
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 -
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 %)
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 %
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 %)
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 %)
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 %
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 %)
Q1 2023 49.89 (20.7 %) 13.71 (16.6 %) 2.50 (46.2 %)
Q2 2023 89.06 (12.5 %) 26.26 (3.0 %) 14.09 0.7 %
Q3 2023 75.06 (13.0 %) 22.22 10.6 % 9.22 10.4 %
Q4 2023 56.49 (10.9 %) 14.23 (15.4 %) 0.99 (73.4 %)
Q1 2024 48.53 (2.7 %) 14.49 5.7 % 2.76 10.2 %
Q2 2024 87.63 (1.6 %) 26.10 (0.6 %) 13.06 (7.3 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2015 4.42 - 0.22 - 4.42 0.22
Q2 2015 8.06 - 0.40 - 8.06 0.40
Q3 2015 - - - - - -
Q4 2015 - - - - - -
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
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
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
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
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
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
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
Q1 2023 2.69 (37.7 %) 0.13 - 2.69 0.13
Q2 2023 13.05 1.9 % 0.65 - 13.05 0.65
Q3 2023 8.55 6.6 % 0.43 - 8.55 0.43
Q4 2023 2.65 132.2 % 0.13 2.31 0.34 0.02
Q1 2024 1.96 (27.2 %) 0.10 0.38 1.58 0.08
Q2 2024 10.65 (18.4 %) 0.53 - 10.65 0.53

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2015 - - -
Q2 2015 - - -
Q3 2015 - - -
Q4 2015 - - -
Q1 2016 - - -
Q2 2016 - - -
Q3 2016 - - -
Q4 2016 13.02 % 6.71 % 5.12 %
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 %
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 %
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 %
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 %
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 %
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 %
Q1 2023 25.78 % 13.65 % 9.19 %
Q2 2023 26.63 % 14.41 % 9.68 %
Q3 2023 28.48 % 15.38 % 10.26 %
Q4 2023 28.25 % 14.84 % 9.10 %
Q1 2024 28.68 % 14.93 % 8.74 %
Q2 2024 28.77 % - 7.89 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
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
Q2 2023 20.00 0.78 1.40 11.89
Q3 2023 20.00 0.80 1.42 11.84
Q4 2023 20.00 1.35 1.23 11.95
Q1 2024 20.00 1.31 1.18 12.01
Q2 2024 20.00 1.19 1.06 12.05

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
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
Q2 2023 44.04 24.49 2.88
Q3 2023 37.11 20.94 2.52
Q4 2023 21.98 24.04 2.48
Q1 2024 22.63 25.22 2.47
Q2 2024 23.23 26.19 2.29

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 -
Q2 2023 86.57 2.49 -
Q3 2023 73.65 1.41 -
Q4 2023 54.75 1.73 -
Q1 2024 46.89 1.64 -
Q2 2024 85.42 2.21 -


Financial Ratios
Current
Market Cap (M Riyal) 606.00
Enterprise Value (EV) (M) 646.57
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) 28.70
P/E (TTM) 25.46
Price/book 2.51
Return on Average Assets (%) (TTM) 7.3
Return on Average Equity (%) (TTM) 9.9
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Share Price

Abdullah Saad Mohammed Abo Moati for Bookstores Co.
30.30
0.40 1.34 %

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

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