Cenomi Centers’ net profit jumps 49% to SAR 1.5B; Q4 at SAR 482.3M

Cenomi Centers’ net profit jumps 49% to SAR 1.5B; Q4 at SAR 482.3M

26/03/2024 Argaam Exclusive

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Arabian Centres Co. (Cenomi Centers) reported a 49% growth in net profit before minority interest to SAR 1.5 billion in 2023, compared to SAR 1 billion a year earlier.



Financials (M)

Item 2022 2023 Change‬
Revenues 2,206.70 2,253.67 2.1 %
Gross Income 1,845.67 1,870.19 1.3 %
Operating Income 1,471.37 1,266.51 (13.9 %)
Net Income 1,007.09 1,515.00 50.4 %
Average Shares 475.00 475.00 -
EPS (Riyals) 2.12 3.19 50.4 %


Current Quarter Comparison (M)

Compared With The
Item Q4 2022 Q4 2023 Change‬
Revenues 550.84 543.92 (1.3 %)
Gross Income 458.83 458.25 (0.1 %)
Operating Income 316.71 284.30 (10.2 %)
Net Income 391.18 506.46 29.5 %
Average Shares 475.00 475.00 -
EPS (Riyals) 0.82 1.07 29.5 %

In Q4 2023, net profit rose to SAR 482.3 million, from SAR 378.87 million.

 

On a quarterly basis, net profit increased 68.3% from SAR 293.6 million in Q3 2023.

 

Total shareholders’ equity, after minority interest, stood at SAR 14.3 billion by Dec. 31, 2023, compared to SAR 14 billion a year ago.

Attached Documents

 

 

View More Financial Results

 


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
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 - - - - - -
Q2 2017 - - - - - -
Q3 2017 - - - - - -
Q4 2017 559.79 - 369.82 - 314.76 -
Q1 2018 558.31 - 355.85 - 316.60 -
Q2 2018 531.57 - 326.91 - 282.04 -
Q3 2018 530.11 - 340.51 - 294.62 -
Q4 2018 556.41 (0.6 %) 370.64 0.2 % 323.18 2.7 %
Q1 2019 572.50 2.5 % 392.78 10.4 % 343.31 8.4 %
Q2 2019 559.12 5.2 % 366.32 12.1 % 322.03 14.2 %
Q3 2019 557.54 5.2 % 361.73 6.2 % 314.60 6.8 %
Q4 2019 508.15 (8.7 %) 317.61 (14.3 %) 262.87 (18.7 %)
Q1 2020 475.85 (16.9 %) 298.65 (24.0 %) 230.77 (32.8 %)
Q2 2020 464.84 (16.9 %) 254.77 (30.5 %) 162.43 (49.6 %)
Q3 2020 469.41 (15.8 %) 248.94 (31.2 %) 152.81 (51.4 %)
Q4 2020 446.25 (12.2 %) 220.77 (30.5 %) 127.01 (51.7 %)
Q1 2021 510.68 7.3 % 414.33 38.7 % 341.13 47.8 %
Q2 2021 497.04 6.9 % 406.75 59.7 % 319.77 96.9 %
Q3 2021 510.60 8.8 % 410.90 65.1 % 308.28 101.7 %
Q4 2021 - - - - - -
Q1 2022 519.17 1.7 % 446.06 7.7 % 378.76 11.0 %
Q2 2022 562.95 13.3 % 456.20 12.2 % 378.86 18.5 %
Q3 2022 573.75 12.4 % 484.59 17.9 % 397.04 28.8 %
Q4 2022 550.84 - 458.83 - 316.71 -
Q1 2023 576.78 11.1 % 491.15 10.1 % 273.94 (27.7 %)
Q2 2023 565.27 0.4 % 458.04 0.4 % 373.01 (1.5 %)
Q3 2023 567.70 (1.1 %) 462.76 (4.5 %) 335.25 (15.6 %)
Q4 2023 543.92 (1.3 %) 458.25 (0.1 %) 284.30 (10.2 %)
2023 2,253.67 2.1 % 1,870.19 1.3 % 1,266.51 (13.9 %)


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 - - - - - -
Q1 2015 - - - - - -
Q2 2015 - - - - - -
Q3 2015 - - - - - -
Q4 2015 - - - - - -
Q1 2016 - - - - - -
Q2 2016 - - - - - -
Q3 2016 - - - - - -
Q4 2016 - - - - - -
Q1 2017 - - - - - -
Q2 2017 - - - - - -
Q3 2017 - - - - - -
Q4 2017 236.95 - 0.50 11.06 225.89 0.48
Q1 2018 77.40 - 0.16 - 77.40 0.16
Q2 2018 188.90 - 0.40 - 188.90 0.40
Q3 2018 272.10 - 0.57 - 272.10 0.57
Q4 2018 251.20 6.0 % 0.53 - 251.20 0.53
Q1 2019 223.01 188.1 % 0.47 - 223.01 0.47
Q2 2019 205.04 8.5 % 0.43 - 205.04 0.43
Q3 2019 107.89 (60.3 %) 0.23 - 107.89 0.23
Q4 2019 97.99 (61.0 %) 0.21 - 97.99 0.21
Q1 2020 152.76 (31.5 %) 0.32 35.30 117.46 0.25
Q2 2020 109.03 (46.8 %) 0.23 37.65 71.37 0.15
Q3 2020 95.42 (11.6 %) 0.20 46.52 48.91 0.10
Q4 2020 129.45 32.1 % 0.27 - 129.45 0.27
Q1 2021 126.61 (17.1 %) 0.27 - 126.61 0.27
Q2 2021 91.57 (16.0 %) 0.19 - 91.57 0.19
Q3 2021 382.08 300.4 % 0.80 - 382.08 0.80
Q4 2021 - - - - - -
Q1 2022 175.18 38.4 % 0.37 (74.13) 249.30 0.52
Q2 2022 183.16 100.0 % 0.39 (99.98) 283.14 0.60
Q3 2022 257.57 (32.6 %) 0.54 (4.33) 261.89 0.55
Q4 2022 391.18 - 0.82 165.07 226.11 0.48
Q1 2023 383.35 118.8 % 0.81 214.14 169.21 0.36
Q2 2023 338.65 84.9 % 0.71 73.51 265.14 0.56
Q3 2023 286.54 11.2 % 0.60 60.16 226.38 0.48
Q4 2023 506.46 29.5 % 1.07 294.21 212.25 0.45
2023 1,515.00 50.4 % 3.19 642.02 872.98 1.84

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
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 - - -
Q2 2017 - - -
Q3 2017 - - -
Q4 2017 - - -
Q1 2018 - - -
Q2 2018 - - -
Q3 2018 63.91 % 68.71 % 35.06 %
Q4 2018 64.05 % 69.32 % 36.28 %
Q1 2019 65.32 % 72.09 % 42.69 %
Q2 2019 66.28 % 71.30 % 42.89 %
Q3 2019 66.42 % 71.59 % 35.05 %
Q4 2019 65.46 % 78.26 % 28.85 %
Q1 2020 63.99 % 77.11 % 25.15 %
Q2 2020 61.44 % 77.77 % 19.67 %
Q3 2020 58.38 % 75.67 % 17.50 %
Q4 2020 55.12 % 65.80 % 19.78 %
Q1 2021 60.22 % 64.12 % 19.90 %
Q2 2021 67.11 % 64.36 % 20.62 %
Q3 2021 73.95 % 64.36 % 37.14 %
Q4 2021 - - -
Q1 2022 - - -
Q2 2022 - - -
Q3 2022 - - -
Q4 2022 83.64 % 68.03 % 46.24 %
Q1 2023 83.50 % 61.56 % 41.53 %
Q2 2023 83.50 % 60.89 % 40.69 %
Q3 2023 82.76 % 58.31 % 39.23 %
Q4 2023 82.98 % 56.94 % 38.74 %
2023 82.98 % 56.94 % 38.74 %


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 - - - -
Q2 2015 - - - -
Q3 2015 - - - -
Q4 2015 - - - -
Q1 2016 - - - -
Q2 2016 - - - -
Q3 2016 - - - -
Q4 2016 - - - -
Q1 2017 - - - -
Q2 2017 - - - -
Q3 2017 - - - -
Q4 2017 475.00 - - 10.32
Q1 2018 475.00 - - 10.13
Q2 2018 475.00 - - -
Q3 2018 475.00 1.63 1.61 10.14
Q4 2018 475.00 1.66 1.66 10.66
Q1 2019 475.00 1.97 1.97 12.63
Q2 2019 475.00 2.00 2.00 13.05
Q3 2019 475.00 1.66 1.66 12.38
Q4 2019 475.00 1.33 1.33 12.60
Q1 2020 475.00 1.19 1.11 12.97
Q2 2020 475.00 0.98 0.83 12.78
Q3 2020 475.00 0.96 0.71 12.46
Q4 2020 475.00 1.02 0.77 12.74
Q1 2021 475.00 0.97 0.79 12.26
Q2 2021 475.00 0.93 0.83 12.45
Q3 2021 475.00 1.54 1.54 32.19
Q4 2021 - - - -
Q1 2022 475.00 - - 28.51
Q2 2022 475.00 - - 28.90
Q3 2022 475.00 - - 28.69
Q4 2022 475.00 2.12 2.15 29.51
Q1 2023 475.00 2.56 1.98 29.57
Q2 2023 475.00 2.89 1.94 29.26
Q3 2023 475.00 2.95 1.87 28.99
Q4 2023 475.00 3.19 1.84 30.05

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 - - -
Q2 2017 - - -
Q3 2017 - - -
Q4 2017 - - -
Q1 2018 - - -
Q2 2018 - - -
Q3 2018 - - -
Q4 2018 - - -
Q1 2019 - - -
Q2 2019 12.91 12.91 1.98
Q3 2019 18.31 18.31 2.45
Q4 2019 21.84 21.84 2.31
Q1 2020 17.78 18.97 1.63
Q2 2020 22.53 26.69 1.74
Q3 2020 27.76 37.63 2.13
Q4 2020 24.45 32.41 1.97
Q1 2021 23.00 28.15 1.82
Q2 2021 28.09 31.38 2.11
Q3 2021 16.13 16.13 0.77
Q4 2021 - - -
Q1 2022 - - 0.78
Q2 2022 - - 0.67
Q3 2022 - - 0.68
Q4 2022 9.01 8.89 0.65
Q1 2023 7.97 10.29 0.69
Q2 2023 7.69 11.43 0.76
Q3 2023 6.75 10.66 0.69
Q4 2023 6.52 11.31 0.69

Business Segments (Million)

Compared With The
Period Rental income Service and management fee income Turnover rent Commission income on provisions for utilities, net
Q1 2019 537.81 24.49 9.43 0.77
Q3 2019 534.25 22.40 - 0.89
Q1 2020 449.91 21.63 3.88 0.43
Q2 2020 435.40 23.15 5.45 0.85
Q3 2020 444.97 21.69 1.85 0.89
Q4 2020 405.95 23.11 16.59 0.60
Q1 2021 474.98 20.35 14.63 0.72
Q2 2021 459.06 19.54 16.77 1.67
Q3 2021 470.33 26.58 12.34 1.15
Q4 2021 477.31 30.45 10.87 0.75
Q3 2022 525.93 24.69 21.84 1.29
Q4 2022 501.95 42.06 5.76 1.08
Q1 2023 532.48 24.73 18.75 0.82
Q2 2023 524.47 24.86 14.75 0.89
Q3 2023 536.10 15.13 15.09 1.39
Q4 2023 502.22 25.14 15.29 1.28

Analysts Estimates (Million)

Item Q4 2023 (e) Q4 2023 (a) Change‬
Average 240.20 506.46 110.85 %

Estimates vs Actual (Million)

Item Q4 2023 (e) Q4 2023 (a) Change
U-Capital 240.20 506.46 110.8 %


Financial Ratios
Current
Market Cap (M Riyal) 9,395.50
Enterprise Value (EV) (M) 20,012.08
Shares Outstanding ((M)) 475.00
EPS ( Riyal) (TTM) 2.89
Book Value (BV) ( Riyal) 30.75
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 13.38
P/E (TTM) 6.85
Price/book 0.64
Return on Average Assets (%) (TTM) 4.8
Return on Average Equity (%) (TTM) 9.7
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Share Price

Arabian Centres Co.
19.78
(0.02) (0.10 %)

Arabian Centres Co. (CENOMI CENTERS)

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