BinDawood Holding 2021 net profit slumps 46% to SAR 240.6 mln, Q4 drops 77% to SAR 13.2 mln

BinDawood Holding 2021 net profit slumps 46% to SAR 240.6 mln, Q4 drops 77% to SAR 13.2 mln

30/03/2022 Argaam Exclusive

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BinDawood Holding Co. reported a net profit after Zakat and tax of SAR 240.6 million for 2021, a 46% slump from SAR 447.7 million in the previous year, due to a decline in sales and lower gross profit.



Financials (M)

Item 2020 2021 Change‬
Revenues 5,156.47 4,382.17 (15.0 %)
Gross Income 1,671.89 1,438.92 (13.9 %)
Operating Income 505.34 264.96 (47.6 %)
Net Income 447.72 240.56 (46.3 %)
Average Shares 1,143.00 1,143.00 -
EPS (Riyals) 0.39 0.21 (46.3 %)

The fourth-quarter net profit after Zakat and tax plunged 77% year-on-year to SAR 13.2 million.

 

Compared to Q3 2021, the Q4 profit was 81.2% lower from SAR 70.24 million.



Current Quarter Comparison (M)

Compared With The
Item Q4 2020 Q4 2021 Change‬
Revenues 1,113.19 1,057.12 (5.0 %)
Gross Income 359.05 268.86 (25.1 %)
Operating Income 62.29 (28.00) (145.0 %)
Net Income 57.39 13.22 (77.0 %)
Average Shares 1,143.00 1,143.00 -
EPS (Riyals) 0.05 0.01 (77.0 %)

Shareholders’ equity, after minority interest, rose 7.5% to SAR 1.411 billion in 2021, from SAR 1.312 billion a year earlier.

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Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
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 - - - - - -
Q1 2018 - - - - - -
Q2 2018 - - - - - -
Q3 2018 - - - - - -
Q4 2018 - - - - - -
Q1 2019 1,120.48 - 357.53 - 91.33 -
Q2 2019 1,306.61 - 417.88 - 123.28 -
Q3 2019 1,196.41 - 447.28 - 146.83 -
Q4 2019 1,220.27 - 421.83 - 145.42 -
Q1 2020 1,413.21 26.1 % 452.45 26.5 % 148.70 62.8 %
Q2 2020 1,547.59 18.4 % 504.12 20.6 % 210.25 70.5 %
Q3 2020 1,082.48 (9.5 %) 356.27 (20.3 %) 84.11 (42.7 %)
Q4 2020 1,113.19 (8.8 %) 359.05 (14.9 %) 62.29 (57.2 %)
Q1 2021 1,124.42 (20.4 %) 373.36 (17.5 %) 84.71 (43.0 %)
Q2 2021 1,122.82 (27.4 %) 399.40 (20.8 %) 115.01 (45.3 %)
Q3 2021 1,077.81 (0.4 %) 397.30 11.5 % 93.25 10.9 %
Q4 2021 1,057.12 (5.0 %) 268.86 (25.1 %) (28.00) (145.0 %)
2021 4,382.17 (15.0 %) 1,438.92 (13.9 %) 264.96 (47.6 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
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 - - - - - -
Q1 2018 - - - - - -
Q2 2018 - - - - - -
Q3 2018 - - - - - -
Q4 2018 - - - - - -
Q1 2019 69.15 - 0.06 - 69.15 0.06
Q2 2019 101.64 - 0.09 - 101.64 0.09
Q3 2019 124.47 - 0.11 - 124.47 0.11
Q4 2019 123.87 - 0.11 - 123.87 0.11
Q1 2020 126.26 82.6 % 0.11 - 126.26 0.11
Q2 2020 185.42 82.4 % 0.16 - 185.42 0.16
Q3 2020 78.65 (36.8 %) 0.07 14.90 63.75 0.06
Q4 2020 57.39 (53.7 %) 0.05 12.69 44.70 0.04
Q1 2021 62.12 (50.8 %) 0.05 - 62.12 0.05
Q2 2021 94.99 (48.8 %) 0.08 - 94.99 0.08
Q3 2021 70.24 (10.7 %) 0.06 3.57 66.68 0.06
Q4 2021 13.22 (77.0 %) 0.01 61.16 (47.94) (0.04)
2021 240.56 (46.3 %) 0.21 64.72 175.84 0.15

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
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 - - -
Q1 2018 - - -
Q2 2018 - - -
Q3 2018 - - -
Q4 2018 - - -
Q1 2019 - - -
Q2 2019 - - -
Q3 2019 - - -
Q4 2019 33.95 % 9.42 % 8.65 %
Q1 2020 33.86 % 10.50 % 9.27 %
Q2 2020 33.95 % 15.16 % 10.41 %
Q3 2020 32.96 % 14.35 % 9.49 %
Q4 2020 32.42 % 18.23 % 8.15 %
Q1 2021 32.72 % 19.74 % 7.31 %
Q2 2021 33.49 % 17.41 % 5.98 %
Q3 2021 34.45 % 17.62 % 6.05 %
Q4 2021 32.84 % 15.65 % 4.01 %
2021 32.84 % 15.65 % 4.01 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
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 - - - -
Q1 2018 - - - -
Q2 2018 - - - -
Q3 2018 - - - -
Q4 2018 - - - -
Q1 2019 1,143.00 - - -
Q2 2019 1,143.00 - - 0.86
Q3 2019 1,143.00 - - 0.97
Q4 2019 1,143.00 0.37 0.37 1.04
Q1 2020 1,143.00 0.42 0.42 1.15
Q2 2020 1,143.00 0.49 0.49 1.23
Q3 2020 1,143.00 0.45 0.44 1.30
Q4 2020 1,143.00 0.39 0.37 1.15
Q1 2021 1,143.00 0.34 0.31 1.20
Q2 2021 1,143.00 0.26 0.23 1.29
Q3 2021 1,143.00 0.25 0.23 1.22
Q4 2021 1,143.00 0.21 0.15 1.23

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
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 - - -
Q1 2018 - - -
Q2 2018 - - -
Q3 2018 - - -
Q4 2018 - - -
Q1 2019 - - -
Q2 2019 - - -
Q3 2019 - - -
Q4 2019 - - -
Q1 2020 - - -
Q2 2020 - - -
Q3 2020 - - -
Q4 2020 30.38 32.38 10.36
Q1 2021 32.48 35.00 9.06
Q2 2021 43.20 47.69 8.62
Q3 2021 43.19 45.81 8.80
Q4 2021 45.52 62.27 7.76

Business Segments (Million)

Compared With The
Period Danube markets Bin Dawood Markets
Q3 2021 807.60 270.20
Q4 2021 752.30 304.80

Analysts Estimates (Million)

Item Q4 2021 (e) Q4 2021 (a) Change‬
Average 67.90 13.22 (80.5 %)

Estimates vs Actual (Million)

Item Q4 2021 (e) Q4 2021 (a) Change
Al Rajhi Capital 57.00 13.22 (76.8) %
SNB Capital 69.00 13.22 (80.8) %
AlJazira Capital 70.60 13.22 (81.3) %
Sico 75.00 13.22 (82.4) %


Financial Ratios
Current
Market Cap (M Riyal) 7,818.12
Enterprise Value (EV) (M) 7,387.41
Shares Outstanding ((M)) 1,143.00
EPS ( Riyal) (TTM) 0.25
Book Value (BV) ( Riyal) 1.26
Par Value ( Riyal) 1.00
Adjusted P/E (Last12) 27.29
P/E (TTM) 27.29
Price/book 5.43
Return on Average Assets (%) (TTM) 5.6
Return on Average Equity (%) (TTM) 20.2
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Share Price

BinDawood Holding Co.
6.84
0.07 1.03 %

BinDawood Holding Co. (BINDAWOOD)

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