AYYAN Investment’s net profit up 82% to SAR 13.4 mln in Q1 2022

AYYAN Investment’s net profit up 82% to SAR 13.4 mln in Q1 2022

19/05/2022 Argaam Exclusive

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AYYAN Investment Co. reported a net profit of SAR 13.4 million in Q1 2022, an increase of 82% from SAR 7.4 million in the year-earlier period.



Current Quarter Comparison (M)

Compared With The
Item Q1 2021 Q1 2022 Change‬
Revenues 72.53 75.60 4.2 %
Gross Income 21.45 19.13 (10.8 %)
Operating Income 1.87 1.56 (16.5 %)
Net Income 7.37 13.42 82.1 %
Average Shares 82.68 88.35 6.9 %
EPS (Riyals) 0.09 0.15 70.4 %

This was driven by higher revenue, decreased general and administrative expenses (G&As) and increased profit share from associates.

 

On a sequential basis, the company turned to a profit from SAR 7.42 million loss in Q4 2021.

 

Total shareholders’ equity, excluding minority interest, stood at SAR 822.074 million, compared to SAR 758.169 million in the prior-year period.

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Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2013 1.43 (57.6 %) 0.45 (86.7 %) (1.92) (254.8 %)
Q2 2013 2.26 - 0.54 116.0 % (1.66) 70.2 %
Q3 2013 1.13 - (0.06) - (2.40) (48.1 %)
Q4 2013 1.65 - (0.28) - (4.24) (98.5 %)
Q1 2014 0.73 (49.1 %) 0.00 (100.4 %) (1.75) 8.8 %
Q2 2014 2.47 9.4 % 0.58 6.9 % (0.96) 42.1 %
Q3 2014 1.02 (10.1 %) (0.08) (36.1 %) (2.57) (7.0 %)
Q4 2014 2.57 55.5 % 0.25 189.2 % (6.61) (56.0 %)
Q1 2015 9.51 1202.9 % 2.66 132900.0 % (0.85) 51.7 %
Q2 2015 47.51 1820.4 % 13.14 2176.6 % (0.32) 66.4 %
Q3 2015 43.30 4157.4 % 10.82 13141.0 % (1.72) 32.9 %
Q4 2015 50.24 1858.1 % 12.67 4989.2 % (0.51) 92.2 %
Q1 2016 49.61 421.6 % 12.71 378.4 % (1.20) (41.8 %)
Q2 2016 49.61 4.4 % 12.68 (3.4 %) (1.11) (243.3 %)
Q3 2016 45.23 4.5 % 13.43 24.1 % (0.80) 53.8 %
Q4 2016 47.48 (5.5 %) 9.52 (24.9 %) (4.28) (733.7 %)
Q1 2017 50.64 2.1 % 12.56 (1.2 %) (1.94) (61.3 %)
Q2 2017 55.45 11.8 % 15.06 18.8 % 0.61 154.7 %
Q3 2017 49.78 10.1 % 12.73 (5.2 %) (1.10) (38.4 %)
Q4 2017 53.20 12.0 % 12.54 31.8 % (4.73) (10.7 %)
Q1 2018 53.02 4.7 % 12.41 (1.2 %) (2.51) (29.8 %)
Q2 2018 53.67 (3.2 %) 12.13 (19.5 %) (0.77) (227.0 %)
Q3 2018 57.55 15.6 % 14.21 11.6 % (0.42) 61.9 %
Q4 2018 61.42 15.5 % 13.99 11.5 % (2.18) 54.0 %
Q1 2019 57.62 8.7 % 14.62 17.9 % 0.40 115.8 %
Q2 2019 58.62 9.2 % 14.98 23.5 % (0.66) 14.8 %
Q3 2019 60.26 4.7 % 15.68 10.4 % 0.52 223.6 %
Q4 2019 69.00 12.3 % 24.10 72.3 % (6.56) (201.4 %)
Q1 2020 63.33 9.9 % 16.01 9.5 % 0.16 (58.9 %)
Q2 2020 61.42 4.8 % 16.44 9.7 % 0.77 217.8 %
Q3 2020 65.95 9.4 % 18.98 21.0 % 2.11 306.0 %
Q4 2020 64.62 (6.3 %) 16.45 (31.8 %) (1.32) 80.0 %
Q1 2021 72.53 14.5 % 21.45 34.0 % 1.87 1045.3 %
Q2 2021 70.43 14.7 % 20.00 21.7 % (2.79) (459.9 %)
Q3 2021 65.80 (0.2 %) 16.61 (12.5 %) 2.08 (1.3 %)
Q4 2021 60.80 (5.9 %) 6.50 (60.5 %) (11.29) (758.5 %)
Q1 2022 75.60 4.2 % 19.13 (10.8 %) 1.56 (16.5 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2013 0.61 (81.6 %) 0.01 - 0.61 0.01
Q2 2013 3.53 (20.6 %) 0.07 - 3.53 0.07
Q3 2013 1.17 180.6 % 0.02 - 1.17 0.02
Q4 2013 10.71 395.8 % 0.20 (4.39) 15.11 0.28
Q1 2014 4.70 674.8 % 0.09 - 4.70 0.09
Q2 2014 (4.11) (216.6 %) (0.08) - (4.11) (0.08)
Q3 2014 (12.83) (1198.1 %) (0.24) (33.59) 20.76 0.39
Q4 2014 (22.37) (308.8 %) (0.42) (15.76) (6.61) (0.12)
Q1 2015 4.74 0.9 % 0.09 2.97 1.77 0.03
Q2 2015 29.26 811.3 % 0.54 2.84 26.42 0.49
Q3 2015 7.56 159.0 % 0.14 23.19 (15.62) (0.29)
Q4 2015 (0.41) 98.2 % (0.01) - (0.41) (0.01)
Q1 2016 (2.79) (158.8 %) (0.05) (1.47) (1.32) (0.02)
Q2 2016 (12.83) (143.8 %) (0.24) (1.75) (11.08) (0.21)
Q3 2016 (2.88) (138.1 %) (0.05) - (2.88) (0.05)
Q4 2016 (14.17) (3,382.6 %) (0.26) (13.12) (1.05) (0.02)
Q1 2017 1.00 135.9 % 0.02 - 1.00 0.02
Q2 2017 1.59 112.4 % 0.03 - 1.59 0.03
Q3 2017 (2.11) 26.6 % (0.04) (2.50) 0.39 0.01
Q4 2017 (9.93) 30.0 % (0.18) - (9.93) (0.18)
Q1 2018 (2.79) (378.1 %) (0.05) - (2.79) (0.05)
Q2 2018 0.32 (79.6 %) 0.01 - 0.32 0.01
Q3 2018 1.17 155.4 % 0.02 - 1.17 0.02
Q4 2018 8.51 185.8 % 0.16 - 8.51 0.16
Q1 2019 1.42 151.0 % 0.03 - 1.42 0.03
Q2 2019 1.98 510.8 % 0.04 - 1.98 0.04
Q3 2019 2.30 96.8 % 0.04 - 2.30 0.04
Q4 2019 (6.88) (180.9 %) (0.13) - (6.88) (0.13)
Q1 2020 15.91 1020.3 % 0.20 14.58 1.33 0.02
Q2 2020 3.96 100.0 % 0.05 - 3.96 0.05
Q3 2020 9.19 299.2 % 0.11 3.01 6.18 0.08
Q4 2020 (1.76) 74.4 % (0.02) - (1.76) (0.02)
Q1 2021 7.37 (53.7 %) 0.09 - 7.37 0.09
Q2 2021 0.62 (84.4 %) 0.01 - 0.62 0.01
Q3 2021 3.74 (59.4 %) 0.05 - 3.74 0.05
Q4 2021 (7.42) (321.2 %) (0.09) - (7.42) (0.09)
Q1 2022 13.42 82.1 % 0.15 - 13.42 0.15

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2013 (204.53 %) (539.68 %) (1.46 %)
Q2 2013 26.79 % (99.59 %) (25.35 %)
Q3 2013 19.25 % (89.06 %) 34.82 %
Q4 2013 10.04 % (95.52 %) 315.10 %
Q1 2014 3.43 % (103.24 %) 424.48 %
Q2 2014 3.93 % (88.57 %) 281.77 %
Q3 2014 3.63 % (128.17 %) 620.97 %
Q4 2014 10.92 % (157.30 %) 217.25 %
Q1 2015 21.83 % (65.06 %) 75.87 %
Q2 2015 26.33 % (17.50 %) 69.87 %
Q3 2015 26.11 % (6.83 %) 5.79 %
Q4 2015 26.09 % 4.77 % 8.07 %
Q1 2016 25.88 % 5.37 % 4.76 %
Q2 2016 25.36 % 6.95 % (14.75 %)
Q3 2016 26.45 % 8.29 % (8.05 %)
Q4 2016 25.18 % 4.00 % (8.51 %)
Q1 2017 24.97 % 4.40 % (7.26 %)
Q2 2017 25.44 % 4.43 % (0.68 %)
Q3 2017 24.52 % 4.39 % 0.95 %
Q4 2017 25.30 % 3.92 % (3.32 %)
Q1 2018 24.94 % 2.88 % (5.08 %)
Q2 2018 23.76 % 2.89 % (5.72 %)
Q3 2018 23.59 % 3.08 % (5.16 %)
Q4 2018 23.37 % 3.99 % 3.20 %
Q1 2019 23.86 % 5.12 % 4.96 %
Q2 2019 24.57 % 2.19 % 5.56 %
Q3 2019 24.91 % 5.57 % 5.97 %
Q4 2019 28.26 % 3.64 % (0.48 %)
Q1 2020 28.17 % 3.44 % (0.51 %)
Q2 2020 28.43 % 6.70 % 0.28 %
Q3 2020 29.08 % 4.58 % 1.76 %
Q4 2020 26.58 % 7.00 % 3.80 %
Q1 2021 27.71 % 7.51 % 5.95 %
Q2 2021 28.10 % 6.01 % 4.53 %
Q3 2021 27.25 % 6.12 % 3.64 %
Q4 2021 23.95 % 2.69 % 1.59 %
Q1 2022 22.83 % 2.60 % 3.79 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2013 53.69 0.00 0.00 9.05
Q2 2013 53.69 (0.02) (0.02) 9.24
Q3 2013 53.69 0.03 0.03 9.43
Q4 2013 53.69 0.30 0.38 9.77
Q1 2014 53.69 0.37 0.46 9.75
Q2 2014 53.69 0.23 0.31 9.78
Q3 2014 53.69 (0.03) 0.68 9.60
Q4 2014 53.69 (0.64) 0.27 9.04
Q1 2015 53.69 (0.64) 0.22 9.28
Q2 2015 53.69 (0.02) 0.79 9.91
Q3 2015 53.69 0.36 0.11 9.67
Q4 2015 53.69 0.77 0.23 9.85
Q1 2016 53.69 0.63 0.17 9.59
Q2 2016 53.69 (0.16) (0.53) 9.34
Q3 2016 53.69 (0.35) (0.29) 9.24
Q4 2016 53.69 (0.61) (0.30) 9.09
Q1 2017 53.69 (0.54) (0.26) 9.08
Q2 2017 53.69 (0.27) (0.03) 9.07
Q3 2017 53.69 (0.26) 0.04 9.09
Q4 2017 53.69 (0.18) (0.13) 8.89
Q1 2018 53.69 (0.25) (0.20) 9.66
Q2 2018 53.69 (0.27) (0.22) 9.72
Q3 2018 53.69 (0.21) (0.21) 9.73
Q4 2018 53.69 0.13 0.13 9.79
Q1 2019 53.69 0.21 0.21 9.76
Q2 2019 53.69 0.24 0.24 9.17
Q3 2019 53.69 0.26 0.26 9.33
Q4 2019 53.69 (0.02) (0.02) 9.63
Q1 2020 80.79 0.16 (0.02) 9.28
Q2 2020 80.79 0.19 0.01 9.34
Q3 2020 80.79 0.27 0.06 9.45
Q4 2020 80.79 0.34 0.12 9.29
Q1 2021 82.68 0.23 0.19 9.38
Q2 2021 82.68 0.19 0.15 9.39
Q3 2021 82.68 0.12 0.12 9.44
Q4 2021 82.68 0.05 0.05 9.15
Q1 2022 88.35 0.12 0.12 9.30

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2013 NEG NEG 2.85
Q2 2013 NEG NEG 2.47
Q3 2013 More than 100 More than 100 2.73
Q4 2013 84.59 66.38 2.58
Q1 2014 77.87 63.91 2.99
Q2 2014 More than 100 95.59 3.07
Q3 2014 NEG 48.25 3.41
Q4 2014 NEG 90.58 2.75
Q1 2015 NEG More than 100 2.69
Q2 2015 NEG 35.77 2.85
Q3 2015 51.44 More than 100 1.90
Q4 2015 27.54 93.24 2.14
Q1 2016 35.24 More than 100 2.30
Q2 2016 NEG NEG 2.17
Q3 2016 NEG NEG 1.86
Q4 2016 NEG NEG 2.19
Q1 2017 NEG NEG 2.84
Q2 2017 NEG NEG 2.26
Q3 2017 NEG More than 100 2.33
Q4 2017 NEG NEG 2.32
Q1 2018 NEG NEG 1.99
Q2 2018 NEG NEG 2.02
Q3 2018 NEG NEG 1.77
Q4 2018 More than 100 More than 100 1.74
Q1 2019 83.75 83.75 1.83
Q2 2019 72.46 72.46 1.92
Q3 2019 67.72 67.72 1.92
Q4 2019 NEG NEG 2.00
Q1 2020 65.93 NEG 1.17
Q2 2020 67.79 More than 100 1.37
Q3 2020 65.70 More than 100 1.91
Q4 2020 66.64 More than 100 2.42
Q1 2021 More than 100 More than 100 2.55
Q2 2021 More than 100 More than 100 3.39
Q3 2021 More than 100 More than 100 3.10
Q4 2021 More than 100 More than 100 2.31
Q1 2022 More than 100 More than 100 2.13

Business Segments (Million)

Compared With The
Period Manufacturing sector medical service Investments Food
Q1 2013 - - 3.29 1.43
Q2 2013 - - 5.37 2.26
Q3 2013 - - 3.62 1.13
Q4 2013 - - 2.52 1.65
Q1 2014 0.73 - - -
Q2 2014 2.47 - - -
Q3 2014 1.02 - - -
Q4 2014 2.57 - - -
Q1 2015 2.59 6.92 - -
Q2 2015 3.43 44.09 - -
Q3 2015 1.75 41.55 - -
Q4 2015 3.15 47.09 - -
Q1 2016 3.10 46.51 - -
Q2 2016 4.04 45.56 - -
Q3 2016 1.51 43.72 - -
Q4 2016 2.81 44.67 - -
Q1 2017 2.67 47.97 - -
Q2 2017 4.98 50.48 - -
Q3 2017 2.91 46.87 - -
Q4 2017 2.59 50.60 - -
Q1 2018 2.78 50.24 - -
Q2 2018 5.45 48.22 - -
Q3 2018 2.73 54.82 - -
Q4 2018 3.75 57.67 - -
Q1 2019 3.91 53.71 - -
Q2 2019 4.17 54.45 - -
Q3 2019 3.62 56.65 - -
Q4 2019 4.75 64.25 - -
Q1 2020 4.85 58.48 - -
Q2 2020 4.01 57.41 - -
Q3 2020 3.74 62.20 - -
Q4 2020 4.18 60.44 - -
Q1 2021 4.95 67.58 - -
Q2 2021 3.77 66.66 - -
Q3 2021 3.57 62.23 - -
Q4 2021 4.63 56.17 - -
Q1 2022 5.59 70.01 - -


Financial Ratios
Current
Market Cap (M Riyal) 1,495.51
Enterprise Value (EV) (M) 2,239.32
Shares Outstanding ((M)) 100.64
EPS ( Riyal) (TTM) (2.35)
Book Value (BV) ( Riyal) 6.17
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 2.70
Return on Average Assets (%) (TTM) (12.78 )
Return on Average Equity (%) (TTM) (36.76 )
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Share Price

AYYAN Investment Co.
14.86
(0.22) (1.46 %)

AYYAN Investment Co. (AYYAN)

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