Al Kathiri Holding net profit falls 40% to SAR 9.7 mln in 2020
09/03/2021
Argaam Exclusive
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Al Kathiri Holding Co. reported a net profit after Zakat and tax of SAR 9.7 million in 2020, down 40%, compared to a profit of SAR 16 million in 2019.
Financials (M)
| Item | 2019 | 2020 | Change |
|---|---|---|---|
| Revenues | 89.47 | 104.44 | 16.7 % |
| Gross Income | 27.90 | 26.97 | (3.3 %) |
| Operating Income | 17.85 | 10.36 | (42.0 %) |
| Net Income | 16.02 | 9.66 | (39.7 %) |
| Average Shares | 213.84 | 226.04 | 5.7 % |
| EPS (Halala) | 7.49 | 4.27 | (42.9 %) |
The decline in profit was attributed to increase in operating, production, and raw material expenses, along with higher general and administrative expenses. The firm also noted incurring a one-time expense related to the process of capital increase through rights issue.
The Q4 2020 net profit rose 9% year-on-year (YoY) to SAR 4.7 million.
Compared With The
Current Quarter Comparison (M)
| Item | Q4 2019 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 26.36 | 37.08 | 40.6 % |
| Gross Income | 7.81 | 11.78 | 50.8 % |
| Operating Income | 5.04 | 4.46 | (11.5 %) |
| Net Income | 4.29 | 4.69 | 9.1 % |
| Average Shares | 213.84 | 226.04 | 5.7 % |
| EPS (Halala) | 2.01 | 2.07 | 3.2 % |
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| Q1 2020 | 25.57 | (2.0 %) | 7.48 | (4.0 %) | 4.06 | (10.6 %) |
| Q2 2020 | 15.24 | (14.9 %) | 1.94 | (65.4 %) | (0.71) | (122.6 %) |
| Q3 2020 | 26.55 | 47.4 % | 5.76 | (13.7 %) | 2.55 | (39.4 %) |
| Q4 2020 | 37.08 | 40.6 % | 11.78 | 50.8 % | 4.46 | (11.5 %) |
| 2020 | 104.44 | 16.7 % | 26.97 | (3.3 %) | 10.36 | (42.0 %) |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Halala) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS Before XO Items |
|---|---|---|---|---|---|---|
| Q1 2020 | 3.63 | (20.6 %) | 1.70 | - | 3.63 | 0.02 |
| Q2 2020 | (1.29) | (143.0 %) | (0.60) | - | (1.29) | (0.01) |
| Q3 2020 | 2.64 | (36.4 %) | 1.23 | - | 2.64 | 0.01 |
| Q4 2020 | 4.69 | 9.1 % | 2.07 | - | 4.69 | 0.02 |
| 2020 | 9.66 | (39.7 %) | 4.27 | - | 9.66 | 0.04 |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| Q1 2020 | 31.41 % | 24.45 % | 17.16 % |
| Q2 2020 | 28.07 % | 20.81 % | 12.65 % |
| Q3 2020 | 24.54 % | 17.17 % | 9.89 % |
| Q4 2020 | 25.82 % | 14.90 % | 9.25 % |
| 2020 | 25.82 % | 14.90 % | 9.25 % |
Compared With The
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Halala) | Adjusted EPS (Halala) | Book Value (BV) |
|---|---|---|---|---|
| Q1 2020 | 213.84 | 7.05 | 7.05 | 0.35 |
| Q2 2020 | 213.84 | 5.04 | 5.04 | 0.34 |
| Q3 2020 | 213.84 | 4.33 | 4.33 | 0.36 |
| Q4 2020 | 226.04 | 4.27 | 4.27 | 0.56 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| Q1 2020 | 25.82 | 25.82 | 5.20 |
| Q2 2020 | 40.34 | 40.34 | 5.91 |
| Q3 2020 | 84.82 | 84.82 | 10.33 |
| Q4 2020 | 79.43 | 79.43 | 6.11 |
| Current | |
| Market Cap (M Riyal) | 576.40 |
| Enterprise Value (EV) (M) | 658.80 |
| Shares Outstanding ((M)) | 226.04 |
| EPS (Halala) (TTM) | (2.37) |
| Book Value (BV) ( Riyal) | 0.59 |
| Par Value ( Halala) | 50.00 |
| Adjusted P/E (Last12) | Neg |
| P/E (TTM) | NEG |
| Price/book | 4.33 |
| Return on Average Assets (%) (TTM) | (1.79 ) |
| Return on Average Equity (%) (TTM) | (3.94 ) |
Share Price
Al Kathiri Holding Co. (ALKATHIRI)
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