Al Abdullatif widens loss to SAR 64.1 mln in 9M 2023; Q3 at SAR 24.3 mln

Al Abdullatif widens loss to SAR 64.1 mln in 9M 2023; Q3 at SAR 24.3 mln

09/11/2023 Argaam Exclusive

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Al Abdullatif Industrial Investment Co. widened net losses to SAR 64.1 million 9M 2023 from SAR 31.1 million a year earlier, due to a sharp decrease in sales and an increase in the cost of sales and financing costs.



Financials (M)

Item 9m 2022 9m 2023 Change‬
Revenues 492.48 381.49 (22.5 %)
Gross Income 14.27 (18.91) (232.5 %)
Operating Income (18.63) (44.37) (138.2 %)
Net Income (31.13) (64.06) (105.8 %)
Average Shares 81.25 81.25 -
EPS (Riyals) (0.38) (0.79) (105.8 %)

Net losses deepened by 56% year-on-year (YoY) to SAR 24.3 million in Q3 2023, due to lower sales value and other income as finance costs increased.

 

Compared to Q2 2023, net losses expanded by 23% from SAR 19.76 million.



Current Quarter Comparison (M)

Compared With The
Item Q3 2022 Q3 2023 Change‬
Revenues 142.60 117.69 (17.5 %)
Gross Income 0.85 (9.45) (1210.7 %)
Operating Income (8.28) (17.50) (111.3 %)
Net Income (15.57) (24.30) (56.0 %)
Average Shares 81.25 81.25 -
EPS (Riyals) (0.19) (0.30) (56.0 %)

Shareholders’ equity, no minority interest, reached SAR 1.21 billion as of Sept. 30, 2023, down from SAR 1.30 billion a year earlier.

 

Accumulated losses reached SAR 91.34 million by the end of the nine-month period, representing 11.24% of the company’s capital.

View More Financial Results

 


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
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 %
Q2 2021 150.91 84.4 % 17.73 601.8 % 8.47 177.1 %
Q3 2021 156.17 52.3 % 8.02 483.8 % (6.05) 40.8 %
Q4 2021 180.34 21.6 % (16.53) (154.5 %) (28.76) (272.5 %)
Q1 2022 181.65 17.9 % 2.90 (69.7 %) (9.22) (4778.2 %)
Q2 2022 168.23 11.5 % 10.52 (40.6 %) (1.13) (113.4 %)
Q3 2022 142.60 (8.7 %) 0.85 (89.4 %) (8.28) (36.9 %)
Q4 2022 155.02 (14.0 %) (6.84) 58.6 % (18.92) 34.2 %
Q1 2023 140.28 (22.8 %) (4.84) (267.0 %) (12.92) (40.2 %)
Q2 2023 123.53 (26.6 %) (4.62) (143.9 %) (13.95) (1,130.5 %)
Q3 2023 117.69 (17.5 %) (9.45) (1210.7 %) (17.50) (111.3 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
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)
Q2 2021 5.02 138.5 % 0.06 - 5.02 0.06
Q3 2021 (10.59) 12.6 % (0.13) - (10.59) (0.13)
Q4 2021 (37.81) (569.5 %) (0.47) - (37.81) (0.47)
Q1 2022 (12.11) (176.5 %) (0.15) - (12.11) (0.15)
Q2 2022 (3.45) (168.7 %) (0.04) - (3.45) (0.04)
Q3 2022 (15.57) (47.0 %) (0.19) - (15.57) (0.19)
Q4 2022 (26.74) 29.3 % (0.33) - (26.74) (0.33)
Q1 2023 (20.00) (65.2 %) (0.25) - (20.00) (0.25)
Q2 2023 (19.76) (473.0 %) (0.24) - (19.76) (0.24)
Q3 2023 (24.30) (56.0 %) (0.30) - (24.30) (0.30)

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
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 %)
Q2 2021 9.99 % 11.52 % (0.62 %)
Q3 2021 10.77 % 11.04 % (0.31 %)
Q4 2021 2.93 % 3.59 % (7.44 %)
Q1 2022 1.81 % 2.03 % (8.29 %)
Q2 2022 0.72 % 0.61 % (9.32 %)
Q3 2022 (0.34 %) 0.32 % (10.25 %)
Q4 2022 1.15 % 1.68 % (8.94 %)
Q1 2023 (0.05 %) 1.29 % (10.85 %)
Q2 2023 (2.75 %) (0.79 %) (14.62 %)
Q3 2023 (4.80 %) (2.47 %) (16.92 %)


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
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
Q2 2021 81.25 (0.04) (0.04) 13.94
Q3 2021 81.25 (0.02) (0.02) 13.81
Q4 2021 81.25 (0.59) (0.59) 13.48
Q1 2022 81.25 (0.68) (0.68) 13.33
Q2 2022 81.25 (0.79) (0.79) 13.28
Q3 2022 81.25 (0.85) (0.85) 16.07
Q4 2022 81.25 (0.71) (0.71) 15.77
Q1 2023 81.25 (0.81) (0.81) 15.53
Q2 2023 81.25 (1.01) (1.01) 15.28
Q3 2023 81.25 (1.12) (1.12) 14.98

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
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
Q2 2021 NEG NEG 2.68
Q3 2021 NEG NEG 2.52
Q4 2021 NEG NEG 2.19
Q1 2022 NEG NEG 1.83
Q2 2022 NEG NEG 1.33
Q3 2022 NEG NEG 1.09
Q4 2022 NEG NEG 0.99
Q1 2023 NEG NEG 1.11
Q2 2023 NEG NEG 1.23
Q3 2023 NEG NEG 1.15

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
Q2 2021 141.67 9.23
Q3 2021 141.50 14.67
Q4 2021 148.77 31.57
Q1 2022 156.94 24.71
Q2 2022 151.79 16.44
Q3 2022 123.46 19.15
Q4 2022 122.97 32.05
Q1 2023 114.63 25.65
Q2 2023 111.51 12.02
Q3 2023 109.58 8.10


Financial Ratios
Current
Market Cap (M Riyal) 1,262.63
Enterprise Value (EV) (M) 1,447.74
Shares Outstanding ((M)) 81.25
EPS ( Riyal) (TTM) (0.29)
Book Value (BV) ( Riyal) 14.63
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 1.06
Return on Average Assets (%) (TTM) (1.48 )
Return on Average Equity (%) (TTM) (1.92 )
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Share Price

ARTEX Industrial Investment Co.
15.54
0.04 0.26 %

ARTEX Industrial Investment Co. (ARTEX)

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