Thob Al Aseel posts 9% profit rise to SAR 75.8 mln in 9M 2020

Thob Al Aseel posts 9% profit rise to SAR 75.8 mln in 9M 2020

18/10/2020 Argaam Exclusive

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Thob Al Aseel Co. posted a net profit after Zakat and tax of SAR 75.8 million for the first nine months of 2020, a rise of 9% year-on-year (YoY), compared to SAR 69.8 million in the same period a year earlier.

 



Financials (M)

Item 9m 2019 9m 2020 Change‬
Revenues 370.96 421.38 13.6 %
Gross Income 140.74 149.41 6.2 %
Operating Income 80.41 88.32 9.8 %
Net Income 69.75 75.76 8.6 %
Average Shares 400.00 400.00 -
EPS (Riyals) 0.17 0.19 8.6 %

The company attributed the profit increase to higher sales and gross profit.



Current Quarter Comparison (M)

Compared With The
Item Q3 2019 Q3 2020 Change‬
Revenues 79.65 110.08 38.2 %
Gross Income 29.16 31.57 8.2 %
Operating Income 9.29 10.57 13.8 %
Net Income 5.21 5.92 13.6 %
Average Shares 400.00 400.00 -
EPS (Riyals) 0.01 0.01 13.6 %

In Q3 2020, the company reported a net profit after Zakat and tax of SAR 5.9 million, a 13.6% rise, driven by a 38.22% YoY growth in sales due to new product launch and the signing of a contract for medical supplies.

 

When compared to the previous quarter, net profit plunged 88.6% on lower sales and seasonality factors.



Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2011 - - - - - -
Q2 2011 - - - - - -
Q3 2011 - - - - - -
Q4 2011 - - - - - -
Q1 2012 - - - - - -
Q2 2012 - - - - - -
Q3 2012 - - - - - -
Q4 2012 - - - - - -
Q1 2013 - - - - - -
Q2 2013 - - - - - -
Q3 2013 - - - - - -
Q4 2013 - - - - - -
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 188.60 - 70.31 - 40.38 -
Q2 2017 210.08 - 86.89 - 63.66 -
Q3 2017 66.38 - 24.47 - 9.89 -
Q4 2017 104.47 - 37.04 - 12.42 -
Q1 2018 82.47 (56.3 %) 32.33 (54.0 %) 16.56 (59.0 %)
Q2 2018 157.61 (25.0 %) 61.10 (29.7 %) 41.77 (34.4 %)
Q3 2018 61.19 (7.8 %) 22.54 (7.9 %) 4.40 (55.5 %)
Q4 2018 76.10 (27.2 %) 27.37 (26.1 %) 10.24 (17.6 %)
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 %
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 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2011 - - - - - -
Q2 2011 - - - - - -
Q3 2011 - - - - - -
Q4 2011 - - - - - -
Q1 2012 - - - - - -
Q2 2012 - - - - - -
Q3 2012 - - - - - -
Q4 2012 - - - - - -
Q1 2013 - - - - - -
Q2 2013 - - - - - -
Q3 2013 - - - - - -
Q4 2013 - - - - - -
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 41.20 - 0.10 - 41.20 0.10
Q2 2017 63.42 - 0.16 - 63.42 0.16
Q3 2017 8.27 - 0.02 - 8.27 0.02
Q4 2017 1.88 - 0.00 (4.19) 6.07 0.02
Q1 2018 14.16 (65.6 %) 0.04 - 14.16 0.04
Q2 2018 38.43 (39.4 %) 0.10 - 38.43 0.10
Q3 2018 1.73 (79.1 %) 0.00 - 1.73 0.00
Q4 2018 2.30 22.5 % 0.01 (3.40) 5.69 0.01
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
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

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2011 - - -
Q2 2011 - - -
Q3 2011 - - -
Q4 2011 - - -
Q1 2012 - - -
Q2 2012 - - -
Q3 2012 - - -
Q4 2012 - - -
Q1 2013 - - -
Q2 2013 - - -
Q3 2013 - - -
Q4 2013 - - -
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 38.40 % 22.72 % 20.89 %
Q1 2018 39.00 % 22.79 % 19.83 %
Q2 2018 37.71 % 20.25 % 16.29 %
Q3 2018 37.71 % 19.16 % 14.88 %
Q4 2018 37.99 % 20.11 % 15.90 %
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 %
Q1 2020 37.24 % 22.67 % 16.55 %
Q2 2020 37.61 % 23.26 % 17.23 %
Q3 2020 35.89 % 22.03 % 16.37 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2011 - - - -
Q2 2011 - - - -
Q3 2011 - - - -
Q4 2011 - - - -
Q1 2012 - - - -
Q2 2012 - - - -
Q3 2012 - - - -
Q4 2012 - - - -
Q1 2013 - - - -
Q2 2013 - - - -
Q3 2013 - - - -
Q4 2013 - - - -
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 400.00 - - 1.32
Q2 2017 400.00 - - 1.48
Q3 2017 400.00 - - 1.35
Q4 2017 400.00 0.29 0.30 1.35
Q1 2018 400.00 0.22 0.23 1.39
Q2 2018 400.00 0.16 0.17 1.34
Q3 2018 400.00 0.14 0.15 1.34
Q4 2018 400.00 0.14 0.15 1.27
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
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

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2011 - - -
Q2 2011 - - -
Q3 2011 - - -
Q4 2011 - - -
Q1 2012 - - -
Q2 2012 - - -
Q3 2012 - - -
Q4 2012 - - -
Q1 2013 - - -
Q2 2013 - - -
Q3 2013 - - -
Q4 2013 - - -
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 - - 1.56
Q3 2017 - - 1.95
Q4 2017 8.20 7.91 1.74
Q1 2018 10.35 9.88 1.63
Q2 2018 14.64 13.72 1.72
Q3 2018 13.62 12.67 1.43
Q4 2018 10.94 10.32 1.22
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
Q1 2020 16.53 16.53 2.66
Q2 2020 18.21 18.21 2.78
Q3 2020 19.73 19.73 3.18

Business Segments (Million)

Compared With The
Period Clothing sector Textiles sector Eliminations
Q1 2017 170.55 19.95 -
Q2 2017 171.92 36.26 -
Q3 2017 56.93 14.66 (0.45)
Q4 2017 76.79 25.14 -
Q1 2018 60.01 22.46 -
Q2 2018 124.16 33.44 -
Q3 2018 50.54 10.65 -
Q4 2018 55.01 21.09 -
Q1 2019 79.00 22.17 -
Q2 2019 157.71 32.43 -
Q3 2019 63.80 15.85 -
Q4 2019 81.00 25.25 -
Q1 2020 91.87 25.59 -
Q2 2020 175.32 18.52 -
Q3 2020 97.05 13.04 -


Financial Ratios
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
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Share Price

Thob Al Aseel Co.
4.33
0.03 0.70 %

Thob Al Aseel Co. (ALASEEL)

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