Maharah’s net profit rises 6% to SAR 57 mln in Q1 2020

Maharah’s net profit rises 6% to SAR 57 mln in Q1 2020

03/05/2020 Argaam Exclusive

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Maharah Human Resources Co. reported a net profit after Zakat and tax of SAR 57 million for the first quarter of 2020, a 6% year-on-year (YoY), compared to SAR 54 million in the same period last year.

 

The higher profit was attributed to a 5% increase in revenues, driven by growth in corporate and individual sectors despite partially being affected by the suspension of Khidmah program due to the government’s precautionary procedures to curb the spread of COVID-19.

 

In addition, general and administrative (G&A) expenses fell by 5% and doubtful debts expenses falling by SAR 4.5 million.



Current Quarter Comparison (M)

Compared With The
Item Q1 2019 Q1 2020 Change‬
Revenues 372.88 389.76 4.5 %
Gross Income 79.77 79.03 (0.9 %)
Operating Income 60.85 59.76 (1.8 %)
Net Income 54.02 57.25 6.0 %
Average Shares 475.00 475.00 -
EPS (Riyals) 0.11 0.12 6.0 %

When compared to the previous quarter, Q1 net profit fell 13.2% due to decline in individual sector revenue and higher 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 - - - - - -
Q2 2017 - - - - - -
Q3 2017 - - - - - -
Q4 2017 300.87 - 85.38 - 46.36 -
Q1 2018 327.38 - 62.73 - 42.98 -
Q2 2018 337.52 - 77.03 - 61.53 -
Q3 2018 343.90 - 82.49 - 69.59 -
Q4 2018 343.12 14.0 % 76.13 (10.8 %) 54.02 16.5 %
Q1 2019 372.88 13.9 % 79.77 27.2 % 60.85 41.6 %
Q2 2019 367.22 8.8 % 86.93 12.8 % 70.77 15.0 %
Q3 2019 386.37 12.3 % 106.27 28.8 % 87.11 25.2 %
Q4 2019 385.83 12.4 % 106.84 40.3 % 85.20 57.7 %
Q1 2020 389.76 4.5 % 79.03 (0.9 %) 59.76 (1.8 %)


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 - - - - - -
Q2 2017 - - - - - -
Q3 2017 - - - - - -
Q4 2017 63.26 - 0.13 2.58 60.68 0.13
Q1 2018 48.02 - 0.10 - 48.02 0.10
Q2 2018 57.59 - 0.12 - 57.59 0.12
Q3 2018 69.35 - 0.15 - 69.35 0.15
Q4 2018 47.30 (25.2 %) 0.10 - 47.30 0.10
Q1 2019 54.02 12.5 % 0.11 - 54.02 0.11
Q2 2019 71.99 25.0 % 0.15 1.73 70.26 0.15
Q3 2019 80.13 15.5 % 0.17 - 80.13 0.17
Q4 2019 65.95 39.5 % 0.14 - 65.95 0.14
Q1 2020 57.25 6.0 % 0.12 - 57.25 0.12

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 - - -
Q1 2018 - - -
Q2 2018 - - -
Q3 2018 23.49 % 17.47 % 17.99 %
Q4 2018 22.07 % 17.76 % 16.44 %
Q1 2019 22.57 % 18.66 % 16.33 %
Q2 2019 22.80 % 19.09 % 16.88 %
Q3 2019 23.75 % 20.01 % 17.13 %
Q4 2019 25.11 % 21.47 % 17.88 %
Q1 2020 24.79 % 21.22 % 17.89 %


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 - - - -
Q2 2017 - - - -
Q3 2017 - - - -
Q4 2017 475.00 - - 0.56
Q1 2018 475.00 - - -
Q2 2018 475.00 - - -
Q3 2018 475.00 0.50 0.50 0.93
Q4 2018 475.00 0.47 0.47 0.91
Q1 2019 475.00 0.48 0.48 1.02
Q2 2019 475.00 0.51 0.51 1.17
Q3 2019 475.00 0.53 0.53 1.12
Q4 2019 475.00 0.57 0.57 1.24
Q1 2020 475.00 0.58 0.58 1.11

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 - - -
Q4 2017 - - -
Q1 2018 - - -
Q2 2018 - - -
Q3 2018 - - -
Q4 2018 - - -
Q1 2019 - - -
Q2 2019 13.45 13.54 5.89
Q3 2019 14.80 14.90 7.05
Q4 2019 11.87 11.94 5.47
Q1 2020 7.90 7.95 4.13

Business Segments (Million)

Compared With The
Period Corporate Individuals
Q4 2017 215.85 85.02
Q1 2018 230.97 96.41
Q2 2018 240.47 97.05
Q3 2018 245.31 98.60
Q4 2018 243.87 99.26
Q1 2019 268.44 104.44
Q2 2019 269.67 97.55
Q3 2019 283.46 102.91
Q4 2019 270.89 114.93
Q1 2020 282.91 106.85


Financial Ratios
Current
Market Cap (M Riyal) 2,873.75
Enterprise Value (EV) (M) 3,386.70
Shares Outstanding ((M)) 475.00
EPS ( Riyal) (TTM) 0.28
Book Value (BV) ( Riyal) 1.31
Par Value ( Riyal) 1.00
Adjusted P/E (Last12) 18.94
P/E (TTM) 21.32
Price/book 4.61
Return on Average Assets (%) (TTM) 7.6
Return on Average Equity (%) (TTM) 22.6
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Share Price

Maharah Human Resources Co.
6.05
(0.03) (0.49 %)

Maharah Human Resources Co. (MAHARAH)

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