Al Kathiri Holding swings to SAR 5.5 mln net loss in H1 2022; Q2 at SAR 3.5 mln

Al Kathiri Holding swings to SAR 5.5 mln net loss in H1 2022; Q2 at SAR 3.5 mln

16/08/2022 Argaam Exclusive

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Al Kathiri Holding Co. swung to net loss after Zakat and tax of SAR 5.5 million in the first half of 2022, from a profit of SAR 7.3 million in the year-earlier period.



Financials (M)

Item 6m 2021 6m 2022 Change‬
Revenues 75.40 46.01 (39.0 %)
Gross Income 21.70 0.44 (98.0 %)
Operating Income 7.86 (4.43) (156.3 %)
Net Income 7.25 (5.52) (176.2 %)
Average Shares 226.04 226.04 -
EPS (Halala) 3.21 (2.44) (176.2 %)

The earnings decline came due to a decrease in revenues and an increase in general and administrative expenses, and, selling and marketing expenses.



Current Quarter Comparison (M)

Compared With The
Item Q2 2021 Q2 2022 Change‬
Revenues 40.19 20.73 (48.4 %)
Gross Income 11.81 (0.59) (105.0 %)
Operating Income 3.37 (2.83) (183.9 %)
Net Income 3.07 (3.46) (212.7 %)
Average Shares 226.04 226.04 -
EPS (Halala) 1.36 (1.53) (212.7 %)

Al Kathiri turned to a net loss after Zakat and tax of SAR 3.5 million in Q2 2022, compared to a net profit after Zakat and tax of SAR 3.1 in Q2 2021.

 

When compared to the previous quarter, Q2 losses widened from SAR 2.07 million.

 

Shareholders’ equity, after minority interest, stood at SAR 128.2 million as of June 30, 2022, compared to SAR 132.7 million a year earlier.

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Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
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 %)
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 %)
Q1 2021 35.21 37.7 % 9.90 32.3 % 4.50 10.7 %
Q2 2021 40.19 163.7 % 11.81 508.0 % 3.37 574.4 %
Q3 2021 41.48 56.2 % 11.37 97.3 % 5.44 113.5 %
Q4 2021 11.90 (67.9 %) 7.15 (39.3 %) 0.00 (100.0 %)
Q1 2022 25.27 (28.2 %) 1.03 (89.6 %) (1.60) (135.6 %)
Q2 2022 20.73 (48.4 %) (0.59) (105.0 %) (2.83) (183.9 %)


Profit Performance (Million)

Period Net Income Change EPS(Halala) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
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)
Q3 2020 2.64 (36.4 %) 1.23 - 2.64 0.01
Q4 2020 4.69 9.1 % 2.07 - 4.69 0.02
Q1 2021 4.18 15.1 % 1.85 - 4.18 0.02
Q2 2021 3.07 337.6 % 1.36 - 3.07 0.01
Q3 2021 4.49 70.2 % 1.99 - 4.49 0.02
Q4 2021 (3.07) (165.6 %) (1.36) (1.61) (1.47) (0.01)
Q1 2022 (2.06) (149.3 %) (0.91) - (2.06) (0.01)
Q2 2022 (3.46) (212.7 %) (1.53) - (3.46) (0.02)

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
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 %
Q3 2020 24.54 % 17.17 % 9.89 %
Q4 2020 25.82 % 14.90 % 9.25 %
Q1 2021 25.75 % 14.30 % 8.95 %
Q2 2021 28.23 % 15.10 % 10.48 %
Q3 2021 29.13 % 15.87 % 10.67 %
Q4 2021 31.23 % 16.25 % 7.98 %
Q1 2022 26.38 % 13.92 % 3.40 %
Q2 2022 19.07 % 11.74 % (2.51 %)


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Halala) Adjusted EPS (Halala) Book Value (BV)
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
Q3 2020 213.84 4.33 4.33 0.36
Q4 2020 226.04 4.27 4.27 0.56
Q1 2021 226.04 4.52 4.52 0.57
Q2 2021 226.04 6.45 6.45 0.59
Q3 2021 226.04 7.27 7.27 0.61
Q4 2021 226.04 3.83 4.54 0.59
Q1 2022 226.04 1.07 1.79 0.58
Q2 2022 226.04 (1.82) (1.11) 0.57

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
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
Q3 2020 84.82 84.82 10.33
Q4 2020 79.43 79.43 6.11
Q1 2021 86.77 86.77 6.83
Q2 2021 65.00 65.00 7.14
Q3 2021 55.95 55.95 6.70
Q4 2021 91.16 76.90 5.91
Q1 2022 More than 100 More than 100 5.69
Q2 2022 NEG NEG 3.90

Business Segments (Million)

Compared With The
Period Concrete sales Cement sales Special projects Concrete wall sales others
Q1 2021 13.66 12.50 1.52 - 7.52
Q2 2021 15.04 11.65 - - 13.50
Q3 2021 19.93 13.39 0.51 - 7.65
Q1 2022 17.43 6.36 1.48 - -
Q2 2022 13.82 4.46 0.42 2.03 -


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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