Thob Al Aseel’s net profit up 42% in FY 2019
18/02/2020
Argaam Exclusive
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Thob Al Aseel Co. reported a net profit after Zakat and tax of SAR 80.37 million for the fiscal year ended Dec. 31, 2019, a 41.9% year-on-year (YoY) increase, as compared to SAR 56.61 million in FY2018.
The increase in net profit was attributed to higher sales, the company said in a bourse statement.
Financials (M)
| Item | 2018 | 2019 | Change |
|---|---|---|---|
| Revenues | 377.37 | 477.21 | 26.5 % |
| Gross Income | 143.35 | 180.71 | 26.1 % |
| Operating Income | 72.97 | 94.92 | 30.1 % |
| Net Income | 56.61 | 80.37 | 42.0 % |
| Average Shares | 400.00 | 400.00 | - |
| EPS (Riyals) | 0.14 | 0.20 | 42.0 % |
The company also reported a net profit of SAR 10.62 million for Q4 2019, which more than quadrupled compared to the same quarter a year earlier.
On a sequential basis, net profit doubled on higher sales due to the seasonality of the company’s activities.
Compared With The
Current Quarter Comparison (M)
| Item | Q4 2018 | Q4 2019 | Change |
|---|---|---|---|
| Revenues | 76.10 | 106.25 | 39.6 % |
| Gross Income | 27.37 | 39.98 | 46.0 % |
| Operating Income | 10.24 | 14.51 | 41.7 % |
| Net Income | 2.30 | 10.62 | 362.7 % |
| Average Shares | 400.00 | 400.00 | - |
| EPS (Riyals) | 0.01 | 0.03 | 362.7 % |
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| Q1 2019 | 101.18 | 22.7 % | 39.91 | 23.4 % | 19.11 | 15.4 % |
| Q2 2019 | 190.14 | 20.6 % | 71.66 | 17.3 % | 52.01 | 24.5 % |
| Q3 2019 | 79.65 | 30.2 % | 29.16 | 29.4 % | 9.29 | 111.0 % |
| Q4 2019 | 106.25 | 39.6 % | 39.98 | 46.0 % | 14.51 | 41.7 % |
| 2019 | 477.21 | 26.5 % | 180.71 | 26.1 % | 94.92 | 30.1 % |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS Before XO Items |
|---|---|---|---|---|---|---|
| Q1 2019 | 16.20 | 14.4 % | 0.04 | - | 16.20 | 0.04 |
| Q2 2019 | 48.34 | 25.8 % | 0.12 | - | 48.34 | 0.12 |
| Q3 2019 | 5.21 | 200.9 % | 0.01 | - | 5.21 | 0.01 |
| Q4 2019 | 10.62 | 362.7 % | 0.03 | - | 10.62 | 0.03 |
| 2019 | 80.37 | 42.0 % | 0.20 | - | 80.37 | 0.20 |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| Q1 2019 | 38.11 % | 20.54 % | 15.67 % |
| Q2 2019 | 37.68 % | 22.02 % | 16.79 % |
| Q3 2019 | 37.60 % | 22.89 % | 16.88 % |
| Q4 2019 | 37.87 % | 22.92 % | 16.84 % |
| 2019 | 37.87 % | 22.92 % | 16.84 % |
Compared With The
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| Q1 2019 | 400.00 | 0.15 | 0.16 | 1.31 |
| Q2 2019 | 400.00 | 0.17 | 0.18 | 1.36 |
| Q3 2019 | 400.00 | 0.18 | 0.19 | 1.29 |
| Q4 2019 | 400.00 | 0.20 | 0.20 | 1.32 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| Q1 2019 | 14.50 | 13.71 | 1.62 |
| Q2 2019 | 11.60 | 11.05 | 1.47 |
| Q3 2019 | 14.16 | 13.52 | 1.97 |
| Q4 2019 | 16.28 | 16.28 | 2.48 |
Business Segments (Million)
Q4 2019
| Period | Clothing sector | Textiles sector | Eliminations |
|---|---|---|---|
| Q1 2019 | 79.00 | 22.17 | - |
| Q2 2019 | 157.71 | 32.43 | - |
| Q3 2019 | 63.80 | 15.85 | - |
| Q4 2019 | 81.00 | 25.25 | - |
| Current | |
| Market Cap (M Riyal) | 1,716.00 |
| Enterprise Value (EV) (M) | 1,624.67 |
| Shares Outstanding ((M)) | 400.00 |
| EPS ( Riyal) (TTM) | 0.21 |
| Book Value (BV) ( Riyal) | 1.45 |
| Par Value ( Riyal) | 1.00 |
| Adjusted P/E (Last12) | 20.48 |
| P/E (TTM) | 20.48 |
| Price/book | 2.95 |
| Return on Average Assets (%) (TTM) | 12.2 |
| Return on Average Equity (%) (TTM) | 14.5 |
Share Price
Thob Al Aseel Co. (ALASEEL)
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