Thob Al Aseel posts 3% rise in 2020 net profit to SAR 82.4 mln
14/02/2021
Argaam Exclusive
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Thob Al Aseel Co. posted a net profit after Zakat and tax of SAR 82.4 million in 2020, a rise of 3%, compared to a net profit of SAR 80.3 million a year earlier.
The company attributed the profit increase to a 10.5% year-on-year (YoY) in sales and signing of a medical supply contract, which in turn boosted gross profit and net profit.
Financials (M)
| Item | 2019 | 2020 | Change |
|---|---|---|---|
| Revenues | 477.21 | 527.34 | 10.5 % |
| Gross Income | 180.71 | 188.49 | 4.3 % |
| Operating Income | 94.92 | 97.93 | 3.2 % |
| Net Income | 80.37 | 82.39 | 2.5 % |
| Average Shares | 400.00 | 400.00 | - |
| EPS (Riyals) | 0.20 | 0.21 | 2.5 % |
In Q4 2020, the company reported a net profit after Zakat and tax of SAR 6.6 million, a drop of 34% YoY.
The company said that total shareholders’ equity, excluding minority interest, increased by 2.7% YoY to SAR 542.81 million in 2020.
Compared With The
Current Quarter Comparison (M)
| Item | Q4 2019 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 106.25 | 105.96 | (0.3 %) |
| Gross Income | 39.98 | 39.08 | (2.2 %) |
| Operating Income | 14.51 | 9.61 | (33.8 %) |
| Net Income | 10.62 | 6.63 | (37.6 %) |
| Average Shares | 400.00 | 400.00 | - |
| EPS (Riyals) | 0.03 | 0.02 | (37.6 %) |
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| Q1 2020 | 117.46 | 16.1 % | 42.98 | 7.7 % | 21.75 | 13.8 % |
| Q2 2020 | 193.84 | 1.9 % | 74.86 | 4.5 % | 56.01 | 7.7 % |
| Q3 2020 | 110.08 | 38.2 % | 31.57 | 8.2 % | 10.57 | 13.8 % |
| Q4 2020 | 105.96 | (0.3 %) | 39.08 | (2.2 %) | 9.61 | (33.8 %) |
| 2020 | 527.34 | 10.5 % | 188.49 | 4.3 % | 97.93 | 3.2 % |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS Before XO Items |
|---|---|---|---|---|---|---|
| Q1 2020 | 17.51 | 8.1 % | 0.04 | - | 17.51 | 0.04 |
| Q2 2020 | 52.32 | 8.2 % | 0.13 | - | 52.32 | 0.13 |
| Q3 2020 | 5.92 | 13.6 % | 0.01 | - | 5.92 | 0.01 |
| Q4 2020 | 6.63 | (37.6 %) | 0.02 | - | 6.63 | 0.02 |
| 2020 | 82.39 | 2.5 % | 0.21 | - | 82.39 | 0.21 |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| Q1 2020 | 37.24 % | 22.67 % | 16.55 % |
| Q2 2020 | 37.61 % | 23.26 % | 17.23 % |
| Q3 2020 | 35.89 % | 22.03 % | 16.37 % |
| Q4 2020 | 35.74 % | 21.07 % | 15.62 % |
| 2020 | 35.74 % | 21.07 % | 15.62 % |
Compared With The
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| Q1 2020 | 400.00 | 0.20 | 0.20 | 1.27 |
| Q2 2020 | 400.00 | 0.21 | 0.21 | 1.40 |
| Q3 2020 | 400.00 | 0.22 | 0.22 | 1.34 |
| Q4 2020 | 400.00 | 0.21 | 0.21 | 1.36 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| Q1 2020 | 16.53 | 16.53 | 2.66 |
| Q2 2020 | 18.21 | 18.21 | 2.78 |
| Q3 2020 | 19.73 | 19.73 | 3.18 |
| Q4 2020 | 28.41 | 28.41 | 4.31 |
Business Segments (Million)
Q4 2020
| Period | Clothing sector | Textiles sector | Eliminations |
|---|---|---|---|
| Q1 2020 | 91.87 | 25.59 | - |
| Q2 2020 | 175.32 | 18.52 | - |
| Q3 2020 | 97.05 | 13.04 | - |
| Q4 2020 | 76.52 | 29.44 | - |
| Current | |
| Market Cap (M Riyal) | 1,732.00 |
| Enterprise Value (EV) (M) | 1,640.67 |
| 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) | 20.67 |
| P/E (TTM) | 20.67 |
| Price/book | 2.98 |
| 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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