Al-Baha widens 2020 loss to SAR 29.8 mln

Al-Baha widens 2020 loss to SAR 29.8 mln

22/04/2021 Argaam Exclusive

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Al-Baha Investment and Development Co. widened net losses after Zakat and tax to SAR 29.8 million for 2020, from SAR 5 million a year earlier.

 

The increased losses were attributed to higher provisions to offset losses from the exchange of assets with Al Sata'a Modern Contracting Company Ltd., after confirming the judgment from the court of appeal.

 

The company also reported an impairment of investment properties and a loss in the value of goodwill for subsidiaries, due to the COVID-19 repercussions and its direct impact on the real estate and leasing sector.

 

Lower other income and an expected credit loss of SAR 3.2 million also weighed negatively on the annual results.



Financials (M)

Item 2019 2020 Change‬
Revenues 10.44 11.18 7.1 %
Gross Income 5.68 6.31 11.1 %
Operating Income 2.22 (0.75) (133.7 %)
Net Income (5.33) (28.59) (436.9 %)
Average Shares 2,964.00 2,964.00 -
EPS (Halala) (0.18) (0.96) (436.9 %)

In Q4 2020, the company widened net losses to SAR 30.5 million, from SAR 4.6 million in prior-year period.

 

Shareholders’ equity, excluding minority interest, decreased by 21% to SAR 107.69 million in 2020, from SAR 136.29 million a year earlier.



Current Quarter Comparison (M)

Compared With The
Item Q4 2019 Q4 2020 Change‬
Revenues 2.74 2.91 6.2 %
Gross Income 1.22 1.27 3.5 %
Operating Income 0.21 (3.49) (1731.8 %)
Net Income (4.86) (29.28) (502.9 %)
Average Shares 2,964.00 2,964.00 -
EPS (Halala) (0.16) (0.99) (502.9 %)


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2011 - - - - (1.86) 50.8 %
Q2 2011 - - - - (1.60) (6.4 %)
Q3 2011 0.16 3.2 % (1.08) (33.6 %) (3.58) (270.2 %)
Q4 2011 - - (0.29) 5.8 % (1.56) 31.1 %
Q1 2012 - - - - (1.18) 36.5 %
Q2 2012 - - - - (1.46) 9.0 %
Q3 2012 0.11 (34.8 %) (0.82) 24.5 % (1.16) 67.6 %
Q4 2012 - - (0.31) (6.1 %) (1.38) 11.5 %
Q1 2013 - - - - (1.24) (5.3 %)
Q2 2013 - - - - (1.07) 26.8 %
Q3 2013 - - (0.24) 71.0 % (1.05) 9.7 %
Q4 2013 - - - - (6.13) (343.8 %)
Q1 2014 - - - - (1.11) 10.5 %
Q2 2014 - - - - (1.16) (8.9 %)
Q3 2014 - - - - (0.86) 18.4 %
Q4 2014 - - - - (0.88) 85.6 %
Q1 2015 0.41 - 0.15 - 0.04 103.4 %
Q2 2015 0.62 - 0.13 - 0.01 100.6 %
Q3 2015 1.63 - 0.10 - 0.01 100.6 %
Q4 2015 2.86 - 0.23 - 0.02 102.1 %
Q1 2016 1.68 308.5 % 0.13 (17.8 %) 0.01 (76.3 %)
Q2 2016 1.51 143.9 % 0.14 7.0 % 0.01 (14.3 %)
Q3 2016 2.88 77.1 % 0.18 81.4 % 0.01 20.0 %
Q4 2016 2.81 (2.0 %) 0.17 (26.0 %) (0.15) (894.7 %)
Q1 2017 2.21 31.4 % 0.15 17.6 % 0.01 (33.3 %)
Q2 2017 0.57 (62.1 %) 0.57 314.5 % (0.31) (5216.7 %)
Q3 2017 0.36 (87.6 %) 0.36 103.4 % (0.24) (4083.3 %)
Q4 2017 4.23 50.8 % 1.61 843.9 % 0.28 288.1 %
Q1 2018 3.01 36.2 % 1.39 845.6 % 0.75 12366.7 %
Q2 2018 2.87 401.9 % 1.56 173.4 % 0.86 380.1 %
Q3 2018 2.29 540.8 % 1.04 190.5 % 0.38 259.4 %
Q4 2018 1.50 (64.5 %) 0.80 (50.3 %) 0.24 (15.5 %)
Q1 2019 2.40 (20.3 %) 1.33 (4.5 %) 0.58 (22.3 %)
Q2 2019 2.45 (14.6 %) 1.40 (10.4 %) 0.58 (32.6 %)
Q3 2019 2.84 23.9 % 1.73 66.0 % 0.85 121.8 %
Q4 2019 2.74 82.4 % 1.22 52.6 % 0.21 (10.8 %)
Q1 2020 2.76 14.8 % 1.67 25.8 % 0.94 61.6 %
Q2 2020 2.89 17.9 % 1.86 32.8 % 1.12 93.1 %
Q3 2020 2.62 (7.9 %) 1.51 (12.3 %) 0.68 (19.1 %)
Q4 2020 2.91 6.2 % 1.27 3.5 % (3.49) (1731.8 %)
2020 11.18 7.1 % 6.31 11.1 % (0.75) (133.7 %)


Profit Performance (Million)

Period Net Income Change EPS(Halala) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2011 (1.86) 50.7 % (0.07) - (1.86) 0.00
Q2 2011 (1.60) (7.9 %) (0.06) - (1.60) 0.00
Q3 2011 (3.96) (307.3 %) (0.16) - (3.96) 0.00
Q4 2011 1.67 931.8 % 0.07 - 1.67 0.00
Q1 2012 (1.18) 36.5 % (0.06) - (1.18) 0.00
Q2 2012 (1.46) 8.9 % (0.08) - (1.46) 0.00
Q3 2012 (1.54) 61.2 % (0.08) - (1.54) 0.00
Q4 2012 (1.29) (177.2 %) (0.07) - (1.29) 0.00
Q1 2013 (69.94) (5,832.2 %) (2.78) (68.70) (1.24) 0.00
Q2 2013 (1.07) 26.8 % (0.04) - (1.07) 0.00
Q3 2013 (1.42) 7.3 % (0.06) - (1.42) 0.00
Q4 2013 (5.85) (353.2 %) (0.23) - (5.85) 0.00
Q1 2014 (1.11) 98.4 % (0.04) - (1.11) 0.00
Q2 2014 (1.16) (8.9 %) (0.05) - (1.16) 0.00
Q3 2014 (0.95) 33.4 % (0.04) - (0.95) 0.00
Q4 2014 (0.88) 84.9 % (0.04) - (0.88) 0.00
Q1 2015 0.04 103.4 % 0.00 - 0.04 0.00
Q2 2015 0.01 100.6 % 0.00 - 0.01 0.00
Q3 2015 0.01 100.5 % 0.00 - 0.01 0.00
Q4 2015 0.02 101.9 % 0.00 - 0.02 0.00
Q1 2016 0.01 (76.3 %) 0.00 - 0.01 0.00
Q2 2016 0.01 (14.3 %) 0.00 - 0.01 0.00
Q3 2016 0.01 20.0 % 0.00 - 0.01 0.00
Q4 2016 (0.15) (994.1 %) (0.01) - (0.15) 0.00
Q1 2017 0.01 (33.3 %) 0.00 - 0.01 0.00
Q2 2017 (0.33) (5550.0 %) (0.01) (2.12) 1.79 0.00
Q3 2017 (0.26) (4416.7 %) (0.01) - (0.26) 0.00
Q4 2017 4.57 3105.3 % 0.16 2.12 2.45 0.00
Q1 2018 0.61 10000.0 % 0.02 - 0.61 0.00
Q2 2018 (12.19) (3,627.8 %) (0.41) (12.29) 0.10 0.00
Q3 2018 0.28 206.6 % 0.01 - 0.28 0.00
Q4 2018 (0.02) (100.4 %) 0.00 - (0.02) 0.00
Q1 2019 (0.69) (213.4 %) (0.02) - (0.69) 0.00
Q2 2019 0.09 100.7 % 0.00 - 0.09 0.00
Q3 2019 0.13 (54.3 %) 0.00 - 0.13 0.00
Q4 2019 (4.86) (26,877.8 %) (0.16) (3.65) (1.20) 0.00
Q1 2020 0.27 139.4 % 0.01 - 0.27 0.00
Q2 2020 0.31 238.5 % 0.01 - 0.31 0.00
Q3 2020 0.11 (16.7 %) 0.00 - 0.11 0.00
Q4 2020 (29.28) (502.9 %) (0.99) (22.58) (6.70) 0.00
2020 (28.59) (436.9 %) (0.96) (22.58) (6.01) 0.00

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2011 (718.59 %) (2630.13 %) (2892.95 %)
Q2 2011 (718.59 %) (2837.18 %) (2967.95 %)
Q3 2011 (865.22 %) (4380.75 %) (4729.19 %)
Q4 2011 (854.04 %) (3952.80 %) (3565.84 %)
Q1 2012 (854.04 %) (3526.71 %) (3144.10 %)
Q2 2012 (854.04 %) (3447.20 %) (3055.28 %)
Q3 2012 (1057.14 %) (2997.14 %) (2380.00 %)
Q4 2012 (1074.29 %) (2841.90 %) (5201.90 %)
Q1 2013 (1074.29 %) (2924.76 %) (5261.90 %)
Q2 2013 (1074.29 %) (2573.33 %) (4889.52 %)
Q3 2013 - - -
Q4 2013 - - -
Q1 2014 - - -
Q2 2014 - - -
Q3 2014 - - -
Q4 2014 - - -
Q1 2015 36.89 % (312.14 %) (717.23 %)
Q2 2015 27.26 % (62.37 %) (173.33 %)
Q3 2015 14.22 % (11.62 %) (31.37 %)
Q4 2015 11.03 % 1.25 % 1.21 %
Q1 2016 8.57 % 0.59 % 0.56 %
Q2 2016 7.69 % 0.51 % 0.48 %
Q3 2016 7.50 % 0.45 % 0.43 %
Q4 2016 6.87 % (1.46 %) (1.48 %)
Q1 2017 6.72 % (1.41 %) (1.42 %)
Q2 2017 12.58 % 0.32 % 19.45 %
Q3 2017 20.99 % 3.30 % 23.26 %
Q4 2017 36.50 % 11.73 % 54.10 %
Q1 2018 48.13 % 22.42 % 56.14 %
Q2 2018 47.04 % 26.27 % 27.71 %
Q3 2018 45.20 % 25.64 % 27.70 %
Q4 2018 49.55 % 32.34 % 9.98 %
Q1 2019 52.20 % 43.69 % (3.61 %)
Q2 2019 52.84 % 54.86 % (3.91 %)
Q3 2019 57.15 % 68.57 % (5.31 %)
Q4 2019 54.42 % 70.70 % (16.03 %)
Q1 2020 55.80 % 70.86 % (6.63 %)
Q2 2020 57.71 % 71.52 % (4.43 %)
Q3 2020 56.97 % 69.81 % (4.72 %)
Q4 2020 56.48 % 326.09 % (53.82 %)
2020 56.48 % 326.09 % (53.81 %)


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Halala) Adjusted EPS (Halala) Book Value (BV)
Q1 2011 2,511.87 (0.18) (0.18) 0.04
Q2 2011 2,511.87 (0.18) (0.18) 0.04
Q3 2011 2,511.87 (0.30) (0.30) 0.03
Q4 2011 2,511.87 (0.23) (0.23) 0.04
Q1 2012 1,846.22 (0.27) (0.27) 0.05
Q2 2012 1,846.22 (0.27) (0.27) 0.05
Q3 2012 1,846.22 (0.14) (0.14) 0.05
Q4 2012 1,846.22 (0.30) (0.30) 0.04
Q1 2013 2,511.87 (2.95) (0.22) 0.01
Q2 2013 2,511.87 (2.94) (0.20) 0.01
Q3 2013 2,511.87 (2.93) (0.20) 0.01
Q4 2013 2,511.87 (3.12) (0.38) 0.00
Q1 2014 2,511.87 (0.38) (0.38) 0.00
Q2 2014 2,511.87 (0.38) (0.38) 0.00
Q3 2014 2,511.87 (0.36) (0.36) 0.00
Q4 2014 2,511.87 (0.16) (0.16) 0.00
Q1 2015 2,511.87 (0.12) (0.12) 0.00
Q2 2015 2,511.87 (0.07) (0.07) 0.00
Q3 2015 2,511.87 (0.03) (0.03) 0.00
Q4 2015 2,511.87 0.00 0.00 0.00
Q1 2016 2,511.87 0.00 0.00 0.00
Q2 2016 2,511.87 0.00 0.00 0.00
Q3 2016 2,511.87 0.00 0.00 0.00
Q4 2016 2,511.87 (0.01) (0.01) 0.00
Q1 2017 2,850.97 0.00 0.00 0.00
Q2 2017 2,850.97 (0.02) 0.06 0.05
Q3 2017 2,850.97 (0.03) 0.05 0.05
Q4 2017 2,850.97 0.14 0.14 0.05
Q1 2018 2,964.00 0.15 0.15 0.05
Q2 2018 2,964.00 (0.25) 0.10 0.05
Q3 2018 2,964.00 (0.23) 0.12 0.05
Q4 2018 2,964.00 (0.38) 0.03 0.05
Q1 2019 2,964.00 (0.43) (0.01) 0.05
Q2 2019 2,964.00 (0.01) (0.01) 0.05
Q3 2019 2,964.00 (0.02) (0.02) 0.05
Q4 2019 2,964.00 (0.18) (0.06) 0.05
Q1 2020 2,964.00 (0.15) (0.02) 0.05
Q2 2020 2,964.00 (0.14) (0.02) 0.05
Q3 2020 2,964.00 (0.14) (0.02) 0.05
Q4 2020 2,964.00 (0.96) (0.20) 0.04

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2011 NEG NEG 5.24
Q2 2011 NEG NEG 5.82
Q3 2011 NEG NEG 7.59
Q4 2011 NEG NEG 7.06
Q1 2012 NEG NEG 9.92
Q2 2012 NEG NEG 6.86
Q3 2012 NEG NEG 7.92
Q4 2012 NEG NEG 7.68
Q1 2013 NEG NEG 29.62
Q2 2013 NEG NEG 31.57
Q3 2013 NEG NEG 34.83
Q4 2013 NEG NEG 60.58
Q1 2014 NEG NEG 70.42
Q2 2014 NEG NEG 84.79
Q3 2014 NEG NEG 101.79
Q4 2014 NEG NEG 124.78
Q1 2015 NEG NEG 123.56
Q2 2015 NEG NEG 123.41
Q3 2015 NEG NEG 123.19
Q4 2015 More than 100 More than 100 122.62
Q1 2016 More than 100 More than 100 122.34
Q2 2016 More than 100 More than 100 122.15
Q3 2016 More than 100 More than 100 121.97
Q4 2016 NEG NEG 121.75
Q1 2017 NEG NEG 121.57
Q2 2017 NEG More than 100 2.74
Q3 2017 NEG More than 100 4.13
Q4 2017 More than 100 More than 100 3.34
Q1 2018 99.49 99.49 2.97
Q2 2018 NEG More than 100 3.11
Q3 2018 NEG 94.00 2.28
Q4 2018 NEG More than 100 3.59
Q1 2019 NEG NEG 3.26
Q2 2019 NEG NEG 3.01
Q3 2019 NEG NEG 2.53
Q4 2019 NEG NEG 2.72
Q1 2020 NEG NEG 2.12
Q2 2020 NEG NEG 2.23
Q3 2020 NEG NEG 5.48
Q4 2020 NEG NEG 7.81

Business Segments (Million)

Compared With The
Period Rents
Q1 2019 2.40
Q2 2019 2.45
Q3 2019 2.84
Q4 2019 2.74
Q1 2020 2.76
Q2 2020 2.89
Q3 2020 2.62
Q4 2020 2.91


Financial Ratios
Current
Market Cap (M Riyal) 960.50
Enterprise Value (EV) (M) 967.12
Shares Outstanding ((M)) 2,182.95
EPS (Halala) (TTM) 0.16
Book Value (BV) ( Riyal) 0.10
Par Value ( Halala) 10.00
Adjusted P/E (Last12) More than 100
P/E (TTM) More than 100
Price/book 4.43
Return on Average Assets (%) (TTM) 1.3
Return on Average Equity (%) (TTM) 1.7
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Share Price

Al-Baha Investment and Development Co.
0.44
0.01 3.23 %

Al-Baha Investment and Development Co. (ALBAHA)

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