Al Kathiri Holding net profit down 69% in H1 2020 to SAR 2.3 mln

Al Kathiri Holding net profit down 69% in H1 2020 to SAR 2.3 mln

16/08/2020 Argaam Exclusive

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Al Kathiri Holding Co. reported a net profit of SAR 2.3 million for the first half of 2020, a 69.2% year-on-year decline.



Financials (M)

Item 6m 2019 6m 2020 Change‬
Revenues 44.00 40.81 (7.3 %)
Gross Income 13.41 9.42 (29.7 %)
Operating Income 8.52 3.35 (60.7 %)
Net Income 7.58 2.34 (69.2 %)
Average Shares 213.84 213.84 -
EPS (Halala) 3.55 1.09 (69.2 %)

The decline in net profit was attributed to lower revenues, as a result of the suspension of ready-mix concrete activity, due to the precautionary measures taken by the government during the COVID-19 pandemic.

 

In addition, the high operating costs incurred by the company as a result of the precautionary measures contributed to lower net profit.



Current Quarter Comparison (M)

Compared With The
Item Q2 2019 Q2 2020 Change‬
Revenues 17.90 15.24 (14.9 %)
Gross Income 5.62 1.94 (65.4 %)
Operating Income 3.14 (0.71) (122.6 %)
Net Income 3.01 (1.29) (143.0 %)
Average Shares 213.84 213.84 -
EPS (Halala) 1.41 (0.60) (143.0 %)

Al Kathiri reported a net loss of SAR 1.3 million in Q2 2020 compared to a net profit of SAR 3 million in Q2 2019 on lower revenues and higher operating costs.

 

When compared to previous quarter, the company turned to losses in Q2 due to lower revenues on the suspension of ready-mix concrete activity and high operating costs.



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 2.03 - 0.22 - 0.10 -
Q2 2017 9.59 - 2.99 - 1.86 -
Q3 2017 14.44 - 5.53 - 4.09 -
Q4 2017 16.92 - 3.11 - 1.76 -
Q1 2018 13.80 580.6 % 4.08 1795.8 % 2.24 2143.0 %
Q2 2018 12.75 32.9 % 3.92 31.4 % 2.20 18.1 %
Q3 2018 13.67 (5.4 %) 5.49 (0.8 %) 3.48 (15.0 %)
Q4 2018 10.27 (39.3 %) 2.38 (23.5 %) 1.76 0.1 %
Q1 2019 26.10 89.2 % 7.80 91.3 % 4.54 102.4 %
Q2 2019 17.90 40.4 % 5.62 43.1 % 3.14 42.6 %
Q3 2019 18.02 31.8 % 6.68 21.6 % 4.20 20.9 %
Q4 2019 26.36 156.6 % 7.81 228.7 % 5.04 186.7 %
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 %)


Profit Performance (Million)

Period Net Income Change EPS(Halala) 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 0.09 - 0.04 - 0.09 0.00
Q2 2017 1.77 - 0.83 - 1.77 0.01
Q3 2017 3.27 - 1.53 (0.78) 4.05 0.02
Q4 2017 1.52 - 0.71 - 1.52 0.01
Q1 2018 2.27 2365.2 % 1.06 - 2.27 0.01
Q2 2018 2.27 28.2 % 1.06 - 2.27 0.01
Q3 2018 3.40 3.9 % 1.59 - 3.40 0.02
Q4 2018 1.37 (9.6 %) 0.64 - 1.37 0.01
Q1 2019 4.57 101.5 % 2.14 - 4.57 0.02
Q2 2019 3.01 32.7 % 1.41 - 3.01 0.01
Q3 2019 4.15 22.1 % 1.94 - 4.15 0.02
Q4 2019 4.29 212.4 % 2.01 - 4.29 0.02
Q1 2020 3.63 (20.6 %) 1.70 - 3.63 0.02
Q2 2020 (1.29) (143.0 %) (0.60) - (1.29) (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 27.55 % 23.34 % 17.28 %
Q1 2018 28.68 % 24.22 % 17.54 %
Q2 2018 28.73 % 24.51 % 17.45 %
Q3 2018 29.05 % 24.71 % 16.54 %
Q4 2018 31.43 % 28.84 % 18.43 %
Q1 2019 31.20 % 27.05 % 18.49 %
Q2 2019 31.32 % 26.38 % 18.18 %
Q3 2019 31.08 % 25.75 % 18.12 %
Q4 2019 31.57 % 24.95 % 18.12 %
Q1 2020 31.41 % 24.45 % 17.16 %
Q2 2020 28.07 % 20.81 % 12.65 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Halala) Adjusted EPS (Halala) 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 213.84 - - 0.13
Q2 2017 213.84 - - 0.16
Q3 2017 213.84 - - 0.21
Q4 2017 213.84 3.11 3.47 0.21
Q1 2018 213.84 4.13 4.49 0.23
Q2 2018 213.84 4.36 4.73 0.24
Q3 2018 213.84 4.42 4.42 0.25
Q4 2018 213.84 4.35 4.35 0.26
Q1 2019 213.84 5.43 5.43 0.28
Q2 2019 213.84 5.77 5.77 0.29
Q3 2019 213.84 6.13 6.13 0.31
Q4 2019 213.84 7.49 7.49 0.33
Q1 2020 213.84 7.05 7.05 0.35
Q2 2020 213.84 5.04 5.04 0.34

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 - - -
Q3 2017 - - 1.43
Q4 2017 10.94 9.79 1.58
Q1 2018 8.22 7.55 1.51
Q2 2018 9.60 8.86 1.77
Q3 2018 10.53 10.53 1.85
Q4 2018 25.14 25.14 4.24
Q1 2019 16.11 16.11 3.13
Q2 2019 23.32 23.32 4.59
Q3 2019 16.43 16.43 3.22
Q4 2019 39.36 39.36 8.85
Q1 2020 25.82 25.82 5.20
Q2 2020 40.34 40.34 5.91


Financial Ratios
Current
Market Cap (M Riyal) 603.53
Enterprise Value (EV) (M) 685.92
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 4.54
Return on Average Assets (%) (TTM) (1.79 )
Return on Average Equity (%) (TTM) (3.94 )
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Share Price

Al Kathiri Holding Co.
2.67
0.02 0.75 %

Al Kathiri Holding Co. (ALKATHIRI)

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