Al Abdullatif trims Q1 2021 loss to SAR 4.4 mln

Al Abdullatif trims Q1 2021 loss to SAR 4.4 mln

18/05/2021 Argaam Exclusive

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Al Abdullatif Industrial Investment Co. narrowed net loss after Zakat and tax to SAR 4.4 million in Q1 2021, compared to a loss of SAR 7.7 million in Q1 2020, driven by higher sales and lower industrial expenses in addition to a slight drop in general and administrative expenses (G&As).



Current Quarter Comparison (M)

Compared With The
Item Q1 2020 Q1 2021 Change‬
Revenues 133.35 154.10 15.6 %
Gross Income 5.59 9.56 71.2 %
Operating Income (2.09) 0.20 109.4 %
Net Income (7.73) (4.38) 43.4 %
Average Shares 81.25 81.25 -
Earnings Per Share before unusual items (0.10) (0.05) 43.4 %
EPS (Riyals) (0.10) (0.05) 43.4 %

The company swung to loss in Q1 2021 versus net profit of SAR 8.05 million in Q4 2020.



Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2012 372.38 17.3 % 75.15 44.7 % 59.36 57.4 %
Q2 2012 385.35 11.7 % 95.89 60.2 % 75.48 67.6 %
Q3 2012 363.82 5.3 % 93.84 59.2 % 79.24 80.4 %
Q4 2012 332.98 1.1 % 87.77 54.1 % 79.96 90.1 %
Q1 2013 358.93 (3.6 %) 87.37 16.3 % 71.53 20.5 %
Q2 2013 349.55 (9.3 %) 92.06 (4.0 %) 76.50 1.3 %
Q3 2013 319.13 (12.3 %) 79.14 (15.7 %) 64.06 (19.2 %)
Q4 2013 320.36 (3.8 %) 70.41 (19.8 %) 54.30 (32.1 %)
Q1 2014 336.82 (6.2 %) 74.99 (14.2 %) 61.54 (14.0 %)
Q2 2014 339.16 (3.0 %) 71.44 (22.4 %) 57.54 (24.8 %)
Q3 2014 309.82 (2.9 %) 64.54 (18.4 %) 51.08 (20.3 %)
Q4 2014 339.26 5.9 % 53.02 (24.7 %) 39.11 (28.0 %)
Q1 2015 310.93 (7.7 %) 60.86 (18.8 %) 48.92 (20.5 %)
Q2 2015 306.01 (9.8 %) 75.96 6.3 % 62.56 8.7 %
Q3 2015 238.11 (23.1 %) 39.97 (38.1 %) 29.66 (41.9 %)
Q4 2015 244.22 (28.0 %) 30.96 (41.6 %) 18.21 (53.4 %)
Q1 2016 229.10 (26.3 %) 39.66 (34.8 %) 30.41 (37.8 %)
Q2 2016 214.61 (29.9 %) 26.74 (64.8 %) 16.25 (74.0 %)
Q3 2016 134.88 (43.4 %) 17.04 (57.4 %) 7.42 (75.0 %)
Q4 2016 162.22 (33.6 %) 22.59 (27.0 %) 2.97 (83.7 %)
Q1 2017 166.61 (27.3 %) 26.37 (33.5 %) 16.32 (46.3 %)
Q2 2017 182.25 (15.1 %) 27.21 1.8 % 16.81 3.5 %
Q3 2017 98.04 (27.3 %) 14.56 (14.6 %) 6.23 (16.0 %)
Q4 2017 221.51 36.5 % 13.70 (39.3 %) 6.18 107.9 %
Q1 2018 163.57 (1.8 %) 18.32 (30.5 %) 10.46 (35.9 %)
Q2 2018 155.60 (14.6 %) 12.53 (53.9 %) 4.71 (72.0 %)
Q3 2018 147.62 50.6 % 14.42 (0.9 %) 4.81 (22.8 %)
Q4 2018 154.40 (30.3 %) 12.69 (7.4 %) 4.23 (31.6 %)
Q1 2019 168.85 3.2 % 16.43 (10.3 %) 7.11 (32.0 %)
Q2 2019 172.90 11.1 % 18.79 49.9 % 8.83 87.5 %
Q3 2019 133.85 (9.3 %) 12.18 (15.6 %) 4.35 (9.6 %)
Q4 2019 124.91 (19.1 %) (6.36) (150.1 %) (16.69) (494.7 %)
Q1 2020 133.35 (21.0 %) 5.59 (66.0 %) (2.09) (129.3 %)
Q2 2020 81.86 (52.7 %) (3.53) (118.8 %) (10.98) (224.3 %)
Q3 2020 102.56 (23.4 %) (2.09) (117.2 %) (10.22) (334.9 %)
Q4 2020 148.33 18.7 % 30.33 577.1 % 16.67 199.9 %
Q1 2021 154.10 15.6 % 9.56 71.2 % 0.20 109.4 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items Earnings Per Share before unusual items
Q1 2012 55.54 56.7 % 0.68 - 55.54 0.68
Q2 2012 69.68 66.3 % 0.86 - 69.68 0.86
Q3 2012 70.95 73.2 % 0.87 - 70.95 0.87
Q4 2012 67.51 79.3 % 0.83 - 67.51 0.83
Q1 2013 67.92 22.3 % 0.84 - 67.92 0.84
Q2 2013 70.67 1.4 % 0.87 - 70.67 0.87
Q3 2013 65.46 (7.7 %) 0.81 6.34 59.12 0.73
Q4 2013 62.78 (7.0 %) 0.77 15.00 47.78 0.59
Q1 2014 59.93 (11.8 %) 0.74 3.75 56.18 0.69
Q2 2014 63.87 (9.6 %) 0.79 10.51 53.37 0.66
Q3 2014 46.27 (29.3 %) 0.57 - 46.27 0.57
Q4 2014 30.34 (51.7 %) 0.37 (4.69) 35.03 0.43
Q1 2015 45.04 (24.9 %) 0.55 - 45.04 0.55
Q2 2015 54.27 (15.0 %) 0.67 - 54.27 0.67
Q3 2015 27.63 (40.3 %) 0.34 - 27.63 0.34
Q4 2015 12.28 (59.5 %) 0.15 - 12.28 0.15
Q1 2016 14.76 (67.2 %) 0.18 (10.11) 24.87 0.31
Q2 2016 12.64 (76.7 %) 0.16 - 12.64 0.16
Q3 2016 1.51 (94.5 %) 0.02 - 1.51 0.02
Q4 2016 (0.26) (102.1 %) 0.00 - (0.26) 0.00
Q1 2017 12.18 (17.5 %) 0.15 - 12.18 0.15
Q2 2017 13.59 7.5 % 0.17 - 13.59 0.17
Q3 2017 3.40 125.6 % 0.04 - 3.40 0.04
Q4 2017 6.05 2425.8 % 0.07 6.75 (0.70) (0.01)
Q1 2018 7.27 (40.4 %) 0.09 - 7.27 0.09
Q2 2018 2.84 (79.1 %) 0.03 - 2.84 0.03
Q3 2018 1.72 (49.4 %) 0.02 - 1.72 0.02
Q4 2018 (3.79) (162.7 %) (0.05) - (3.79) (0.05)
Q1 2019 3.38 (53.4 %) 0.04 - 3.38 0.04
Q2 2019 4.12 45.5 % 0.05 - 4.12 0.05
Q3 2019 2.20 28.0 % 0.03 - 2.20 0.03
Q4 2019 (21.38) (463.7 %) (0.26) - (21.38) (0.26)
Q1 2020 (7.73) (328.6 %) (0.10) - (7.73) (0.10)
Q2 2020 (13.03) (415.9 %) (0.16) - (13.03) (0.16)
Q3 2020 (12.12) (650.8 %) (0.15) - (12.12) (0.15)
Q4 2020 8.05 137.7 % 0.10 - 8.05 0.10
Q1 2021 (4.38) 43.4 % (0.05) - (4.38) (0.05)

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2012 18.02 % 20.24 % 12.64 %
Q2 2012 20.03 % 21.24 % 14.23 %
Q3 2012 22.18 % 23.01 % 16.11 %
Q4 2012 24.24 % 24.76 % 18.13 %
Q1 2013 25.32 % 25.86 % 19.16 %
Q2 2013 25.69 % 26.61 % 19.71 %
Q3 2013 25.46 % 26.10 % 19.49 %
Q4 2013 24.41 % 25.11 % 18.21 %
Q1 2014 23.88 % 24.76 % 17.63 %
Q2 2014 22.50 % 23.48 % 16.45 %
Q3 2014 21.54 % 22.62 % 15.59 %
Q4 2014 19.92 % 21.13 % 14.40 %
Q1 2015 19.23 % 20.66 % 13.83 %
Q2 2015 20.09 % 21.69 % 14.27 %
Q3 2015 19.24 % 21.29 % 13.56 %
Q4 2015 18.90 % 20.55 % 12.67 %
Q1 2016 18.34 % 20.33 % 11.70 %
Q2 2016 14.83 % 17.28 % 8.36 %
Q3 2016 13.90 % 16.68 % 6.23 %
Q4 2016 14.31 % 16.33 % 5.23 %
Q1 2017 13.67 % 15.64 % 3.84 %
Q2 2017 14.43 % 16.36 % 4.18 %
Q3 2017 14.90 % 16.99 % 4.75 %
Q4 2017 12.24 % 15.84 % 4.26 %
Q1 2018 11.09 % 14.88 % 3.54 %
Q2 2018 9.26 % 13.48 % 2.00 %
Q3 2018 8.57 % 12.19 % 1.61 %
Q4 2018 9.33 % 12.84 % 1.29 %
Q1 2019 8.95 % 12.13 % 0.66 %
Q2 2019 9.68 % 12.35 % 0.84 %
Q3 2019 9.54 % 12.49 % 0.94 %
Q4 2019 6.83 % 9.89 % (1.94 %)
Q1 2020 5.35 % 8.73 % (4.03 %)
Q2 2020 1.66 % 6.07 % (8.43 %)
Q3 2020 (1.44 %) 2.95 % (12.26 %)
Q4 2020 6.50 % 9.56 % (5.33 %)
Q1 2021 7.04 % 9.39 % (4.41 %)


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Earnings Per Share before unusual items (Riyal) Book Value (BV)
Q1 2012 81.25 2.17 2.17 14.01
Q2 2012 81.25 2.51 2.51 14.86
Q3 2012 81.25 2.88 2.88 15.74
Q4 2012 81.25 3.25 3.25 15.32
Q1 2013 81.25 3.40 3.40 16.15
Q2 2013 81.25 3.41 3.41 15.77
Q3 2013 81.25 3.34 3.26 16.58
Q4 2013 81.25 3.28 3.02 15.35
Q1 2014 81.25 3.19 2.88 16.09
Q2 2014 81.25 3.10 2.66 15.87
Q3 2014 81.25 2.87 2.51 16.44
Q4 2014 81.25 2.47 2.35 15.32
Q1 2015 81.25 2.28 2.21 15.87
Q2 2015 81.25 2.17 2.22 16.04
Q3 2015 81.25 1.94 1.99 16.38
Q4 2015 81.25 1.71 1.71 15.28
Q1 2016 81.25 1.34 1.47 15.46
Q2 2016 81.25 0.83 0.95 15.02
Q3 2016 81.25 0.51 0.63 15.04
Q4 2016 81.25 0.35 0.48 15.04
Q1 2017 81.25 0.32 0.32 15.21
Q2 2017 81.25 0.33 0.33 14.88
Q3 2017 81.25 0.36 0.36 14.92
Q4 2017 81.25 0.43 0.35 14.94
Q1 2018 81.25 0.37 0.29 15.03
Q2 2018 81.25 0.24 0.16 14.56
Q3 2018 81.25 0.22 0.14 14.58
Q4 2018 81.25 0.10 0.10 14.58
Q1 2019 81.25 0.05 0.05 14.61
Q2 2019 81.25 0.07 0.07 14.41
Q3 2019 81.25 0.07 0.07 14.44
Q4 2019 81.25 (0.14) (0.14) 14.14
Q1 2020 81.25 (0.28) (0.28) 14.04
Q2 2020 81.25 (0.49) (0.49) 13.88
Q3 2020 81.25 (0.67) (0.67) 13.73
Q4 2020 81.25 (0.31) (0.31) 13.93
Q1 2021 81.25 (0.26) (0.26) 13.87

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2012 13.52 13.52 2.09
Q2 2012 9.96 9.96 1.68
Q3 2012 10.11 10.11 1.85
Q4 2012 9.77 9.77 2.07
Q1 2013 9.51 9.51 2.00
Q2 2013 11.91 11.91 2.57
Q3 2013 13.16 13.48 2.65
Q4 2013 12.48 13.57 2.67
Q1 2014 13.47 14.91 2.67
Q2 2014 13.70 15.95 2.68
Q3 2014 16.70 19.10 2.91
Q4 2014 13.52 14.20 2.18
Q1 2015 17.04 17.59 2.45
Q2 2015 18.55 18.07 2.50
Q3 2015 17.83 17.31 2.11
Q4 2015 17.48 17.48 1.96
Q1 2016 13.39 12.26 1.16
Q2 2016 21.12 18.37 1.17
Q3 2016 25.09 20.15 0.85
Q4 2016 43.76 32.35 1.03
Q1 2017 45.42 45.42 0.96
Q2 2017 38.10 38.10 0.85
Q3 2017 39.29 39.29 0.94
Q4 2017 31.17 38.56 0.90
Q1 2018 35.08 45.14 0.87
Q2 2018 52.38 80.02 0.87
Q3 2018 51.39 82.59 0.77
Q4 2018 More than 100 More than 100 0.76
Q1 2019 More than 100 More than 100 0.81
Q2 2019 More than 100 More than 100 0.79
Q3 2019 More than 100 More than 100 0.81
Q4 2019 NEG NEG 0.85
Q1 2020 NEG NEG 0.63
Q2 2020 NEG NEG 0.73
Q3 2020 NEG NEG 1.09
Q4 2020 NEG NEG 1.10
Q1 2021 NEG NEG 1.38

Business Segments (Million)

Compared With The
Period Carpets & Rugs and affiliate products Blankets Sector
Q1 2015 286.09 24.83
Q2 2015 295.47 10.54
Q3 2015 229.65 8.47
Q4 2015 214.14 30.14
Q1 2016 212.62 16.49
Q2 2016 201.70 7.87
Q3 2016 132.35 7.56
Q4 2016 148.75 13.47
Q1 2017 156.81 9.81
Q2 2017 175.48 6.77
Q3 2017 85.82 12.22
Q4 2017 192.47 29.04
Q1 2018 147.18 16.39
Q2 2018 138.69 16.92
Q3 2018 136.13 11.49
Q4 2018 136.46 17.94
Q1 2019 152.59 16.26
Q2 2019 157.88 15.02
Q3 2019 119.17 14.68
Q4 2019 100.35 24.57
Q1 2020 115.17 18.18
Q2 2020 67.24 14.62
Q3 2020 95.37 7.19
Q4 2020 125.66 22.67
Q1 2021 140.62 13.49


Financial Ratios
Current
Market Cap (M Riyal) 1,100.13
Enterprise Value (EV) (M) 1,277.29
Shares Outstanding ((M)) 81.25
EPS ( Riyal) (TTM) (1.78)
Book Value (BV) ( Riyal) 12.78
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 1.06
Return on Average Assets (%) (TTM) (9.50 )
Return on Average Equity (%) (TTM) (11.11 )
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Share Price

ARTEX Industrial Investment Co.
13.54
(0.30) (2.16 %)

ARTEX Industrial Investment Co. (ARTEX)

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