Al-Baha turns to SAR 2.4 mln loss in 9M 2021

Al-Baha turns to SAR 2.4 mln loss in 9M 2021

11/11/2021 Argaam Exclusive

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Al-Baha Investment and Development Co. reported a net loss after Zakat and tax of SAR 2.4 million for the first nine months of 2021, from a profit of SAR 680,000 in the year-ago period.

 

The company attributed the net loss to lower revenue and higher cost of revenue, in addition to higher general and non-recurring expenses related to the previously announced capital increase file expenses. The firm also recorded expected credit losses due to the COVID-19 repercussions.



Financials (M)

Item 9m 2020 9m 2021 Change‬
Revenues 8.27 7.93 (4.0 %)
Gross Income 5.05 4.17 (17.4 %)
Operating Income 2.74 (1.59) (158.0 %)
Net Income 0.69 (2.44) (455.5 %)
Average Shares 2,964.00 2,964.00 -
EPS (Halala) 0.02 (0.08) (455.5 %)

The company reported a net loss of SAR 0.82 million for Q3 2021, compared to a profit of SAR 0.11 million in the same quarter last year.

 

On sequential basis, the company widened its losses from SAR 0.66 million in Q2 2021.



Current Quarter Comparison (M)

Compared With The
Item Q3 2020 Q3 2021 Change‬
Revenues 2.62 2.59 (1.1 %)
Gross Income 1.51 1.27 (16.2 %)
Operating Income 0.68 (0.11) (115.4 %)
Net Income 0.11 (0.82) (880.0 %)
Average Shares 2,964.00 2,964.00 -
EPS (Halala) 0.00 (0.03) (880.0 %)

Accumulated losses stood at SAR 71.7 million, representing 40.53% of the company’s total capital of SAR 177.7 million.

 

Total shareholders’ equity reached SAR 105.265 million at the end of September 2021, declining from SAR 136.978 million in the same period last year.

 

View more financial results

 


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
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 %)
Q1 2021 2.54 (7.8 %) 1.32 (20.9 %) (0.55) (159.0 %)
Q2 2021 2.81 (3.0 %) 1.58 (15.2 %) (0.93) (183.2 %)
Q3 2021 2.59 (1.1 %) 1.27 (16.2 %) (0.11) (115.4 %)


Profit Performance (Million)

Period Net Income Change EPS(Halala) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
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
Q1 2021 (0.95) (451.3 %) (0.03) - (0.95) 0.00
Q2 2021 (0.66) (315.3 %) (0.02) - (0.66) 0.00
Q3 2021 (0.82) (880.0 %) (0.03) - (0.82) 0.00

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
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 %)
Q1 2021 54.41 % 318.89 % (66.04 %)
Q2 2021 52.25 % 302.58 % (75.50 %)
Q3 2021 50.14 % 297.00 % (84.23 %)


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Halala) Adjusted EPS (Halala) Book Value (BV)
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
Q1 2021 2,964.00 (1.01) (0.24) 0.04
Q2 2021 2,964.00 (1.04) (0.28) 0.04
Q3 2021 2,964.00 (1.07) (0.31) 0.04

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
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
Q1 2021 NEG NEG 8.16
Q2 2021 NEG NEG 8.17
Q3 2021 NEG NEG 8.16

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
Q1 2021 2.54
Q2 2021 2.80
Q3 2021 2.59


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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