Arriyadh Development posts 44% rise in H1 net profit to SAR 142 mln

Arriyadh Development posts 44% rise in H1 net profit to SAR 142 mln

09/07/2015 Argaam Exclusive

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Arriyadh Development Co., which operates shopping malls in Riyadh, reported a net profit of SAR 142 million for the first half, 44 percent higher compared to the same period in 2014.

 

The year-on-year profit jump was mainly attributed to the significant increase in land sales along with the improved performance of the company's sectors.



Financials (M)

Item 6m 2014 6m 2015 Change‬
Revenues 141.99 199.68 40.6 %
Gross Income 104.44 153.75 47.2 %
Operating Income 98.23 144.40 47.0 %
Net Income 98.46 141.99 44.2 %
Average Shares 177.78 177.78 -
Earnings Per Share before unusual items 0.55 0.80 44.2 %
EPS (Riyals) 0.55 0.80 44.2 %


Current Quarter Comparison (M)

Compared With The
Item Q2 2014 Q2 2015 Change‬
Revenues 66.70 99.63 49.4 %
Gross Income 50.01 76.78 53.5 %
Operating Income 47.00 72.05 53.3 %
Net Income 47.03 70.80 50.5 %
Average Shares 177.78 177.78 -
Earnings Per Share before unusual items 0.26 0.40 50.5 %
EPS (Riyals) 0.26 0.40 50.5 %


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2006 - - - - - -
Q2 2006 - - - - - -
Q3 2006 - - - - - -
Q4 2006 - - - - - -
Q1 2007 - - - - - -
Q2 2007 - - - - - -
Q3 2007 - - - - - -
Q4 2007 - - - - - -
Q1 2008 - - - - - -
Q2 2008 - - - - - -
Q3 2008 - - - - - -
Q4 2008 - - - - - -
Q1 2009 37.47 - 25.22 - 21.62 -
Q2 2009 39.42 - 26.57 - 22.98 -
Q3 2009 39.41 - 26.80 - 24.19 -
Q4 2009 39.19 - 25.11 - 22.73 -
Q1 2010 38.60 3.0 % 26.78 6.2 % 23.17 7.2 %
Q2 2010 41.32 4.8 % 28.79 8.4 % 26.17 13.9 %
Q3 2010 39.57 0.4 % 25.65 (4.3 %) 23.17 (4.2 %)
Q4 2010 43.50 11.0 % 30.35 20.9 % 26.82 18.0 %
Q1 2011 53.38 38.3 % 33.60 25.4 % 29.49 27.3 %
Q2 2011 48.86 18.3 % 37.06 28.7 % 34.18 30.6 %
Q3 2011 47.25 19.4 % 35.04 36.6 % 32.69 41.1 %
Q4 2011 47.46 9.1 % 36.21 19.3 % 33.18 23.7 %
Q1 2012 140.64 163.5 % 97.08 189.0 % 90.94 208.4 %
Q2 2012 53.55 9.6 % 40.06 8.1 % 37.06 8.4 %
Q3 2012 45.39 (3.9 %) 33.36 (4.8 %) 29.98 (8.3 %)
Q4 2012 107.84 127.2 % 79.74 120.2 % 76.36 130.1 %
Q1 2013 - - - - - -
Q2 2013 67.62 26.3 % 51.52 28.6 % 49.18 32.7 %
Q3 2013 59.06 30.1 % 43.56 30.6 % 41.24 37.6 %
Q4 2013 - - - - - -
Q1 2014 75.29 - 54.43 - 51.23 -
Q2 2014 66.70 (1.4 %) 50.01 (2.9 %) 47.00 (4.4 %)
Q3 2014 53.06 (10.2 %) 40.53 (7.0 %) 37.46 (9.2 %)
Q4 2014 56.25 - 43.55 - 40.44 -
Q1 2015 100.06 32.9 % 76.97 41.4 % 72.35 41.2 %
Q2 2015 99.63 49.4 % 76.78 53.5 % 72.05 53.3 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items Earnings Per Share before unusual items
Q1 2006 - - - - - -
Q2 2006 - - - - - -
Q3 2006 - - - - - -
Q4 2006 - - - - - -
Q1 2007 - - - - - -
Q2 2007 - - - - - -
Q3 2007 - - - - - -
Q4 2007 - - - - - -
Q1 2008 - - - - - -
Q2 2008 - - - - - -
Q3 2008 - - - - - -
Q4 2008 - - - - - -
Q1 2009 22.05 - 0.12 - 22.05 0.12
Q2 2009 22.95 - 0.13 - 22.95 0.13
Q3 2009 24.04 - 0.14 - 24.04 0.14
Q4 2009 23.70 - 0.13 - 23.70 0.13
Q1 2010 22.83 3.5 % 0.13 - 22.83 0.13
Q2 2010 26.47 15.3 % 0.15 - 26.47 0.15
Q3 2010 21.01 (12.6 %) 0.12 - 21.01 0.12
Q4 2010 26.32 11.1 % 0.15 - 26.32 0.15
Q1 2011 28.60 25.3 % 0.16 - 28.60 0.16
Q2 2011 32.83 24.0 % 0.18 - 32.83 0.18
Q3 2011 32.25 53.5 % 0.18 - 32.25 0.18
Q4 2011 36.49 38.7 % 0.21 - 36.49 0.21
Q1 2012 93.30 226.2 % 0.52 - 93.30 0.52
Q2 2012 35.74 8.9 % 0.20 - 35.74 0.20
Q3 2012 28.69 (11.0 %) 0.16 - 28.69 0.16
Q4 2012 71.20 95.1 % 0.40 - 71.20 0.40
Q1 2013 - - - - - -
Q2 2013 48.73 36.3 % 0.27 - 48.73 0.27
Q3 2013 40.67 41.7 % 0.23 - 40.67 0.23
Q4 2013 - - - - - -
Q1 2014 51.43 - 0.29 - 51.43 0.29
Q2 2014 47.03 (3.5 %) 0.26 - 47.03 0.26
Q3 2014 37.47 (7.8 %) 0.21 - 37.47 0.21
Q4 2014 53.43 - 0.30 - 53.43 0.30
Q1 2015 71.19 38.4 % 0.40 - 71.19 0.40
Q2 2015 70.80 50.5 % 0.40 - 70.80 0.40

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2006 62.70 % 64.81 % 62.01 %
Q2 2006 61.77 % 63.70 % 59.83 %
Q3 2006 62.16 % 62.98 % 57.74 %
Q4 2006 61.84 % 64.09 % 57.00 %
Q1 2007 - - -
Q2 2007 - - -
Q3 2007 - - -
Q4 2007 - - -
Q1 2008 61.35 % 64.29 % 55.69 %
Q2 2008 61.07 % 64.85 % 55.65 %
Q3 2008 62.67 % 66.58 % 57.35 %
Q4 2008 64.02 % 66.75 % 56.44 %
Q1 2009 65.30 % 67.45 % 57.02 %
Q2 2009 66.40 % 67.96 % 57.30 %
Q3 2009 67.01 % 68.61 % 57.63 %
Q4 2009 66.69 % 70.07 % 59.64 %
Q1 2010 67.20 % 70.52 % 59.71 %
Q2 2010 67.80 % 71.81 % 61.21 %
Q3 2010 67.01 % 71.01 % 59.25 %
Q4 2010 68.46 % 71.60 % 59.29 %
Q1 2011 66.60 % 69.21 % 57.60 %
Q2 2011 68.36 % 70.86 % 58.70 %
Q3 2011 70.50 % 73.05 % 62.18 %
Q4 2011 72.06 % 74.87 % 66.10 %
Q1 2012 72.27 % 73.55 % 68.57 %
Q2 2012 72.13 % 73.29 % 68.46 %
Q3 2012 72.02 % 72.80 % 67.67 %
Q4 2012 72.03 % 72.56 % 65.90 %
Q1 2013 - - -
Q2 2013 - - -
Q3 2013 - - -
Q4 2013 - - -
Q1 2014 74.20 % 77.60 % 70.48 %
Q2 2014 73.89 % 77.25 % 70.09 %
Q3 2014 74.43 % 77.61 % 70.48 %
Q4 2014 75.02 % 77.94 % 75.36 %
Q1 2015 - - -
Q2 2015 - - -


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Earnings Per Share before unusual items (Riyal) Book Value (BV)
Q1 2006 177.78 0.38 0.38 7.67
Q2 2006 177.78 0.36 0.36 7.46
Q3 2006 177.78 0.35 0.35 7.53
Q4 2006 177.78 0.35 0.35 7.62
Q1 2007 - - - -
Q2 2007 - - - -
Q3 2007 - - - -
Q4 2007 - - - -
Q1 2008 177.78 0.41 0.41 7.85
Q2 2008 177.78 0.42 0.42 7.68
Q3 2008 177.78 0.45 0.45 7.80
Q4 2008 177.78 0.45 0.45 7.90
Q1 2009 177.78 0.46 0.46 7.74
Q2 2009 177.78 0.48 0.48 7.73
Q3 2009 177.78 0.49 0.49 7.86
Q4 2009 177.78 0.52 0.52 8.00
Q1 2010 177.78 0.53 0.53 8.13
Q2 2010 177.78 0.55 0.55 7.99
Q3 2010 177.78 0.53 0.53 8.11
Q4 2010 177.78 0.54 0.54 8.26
Q1 2011 177.78 0.58 0.58 8.42
Q2 2011 177.78 0.61 0.61 8.03
Q3 2011 177.78 0.67 0.67 8.21
Q4 2011 177.78 0.73 0.73 8.42
Q1 2012 177.78 1.10 1.10 8.23
Q2 2012 177.78 1.11 1.11 8.43
Q3 2012 177.78 1.09 1.09 8.23
Q4 2012 177.78 1.29 1.29 8.63
Q1 2013 - - - -
Q2 2013 - - - -
Q3 2013 - - - -
Q4 2013 - - - -
Q1 2014 177.78 1.05 1.05 9.75
Q2 2014 177.78 1.04 1.04 9.16
Q3 2014 177.78 1.02 1.02 9.37
Q4 2014 177.78 1.07 1.07 9.61
Q1 2015 - - - -
Q2 2015 - - - -

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2006 More than 100 More than 100 5.62
Q2 2006 More than 100 More than 100 5.16
Q3 2006 More than 100 More than 100 4.94
Q4 2006 40.32 40.32 1.87
Q1 2007 - - -
Q2 2007 - - -
Q3 2007 - - -
Q4 2007 - - -
Q1 2008 36.34 36.34 1.89
Q2 2008 37.54 37.54 2.07
Q3 2008 21.14 21.14 1.23
Q4 2008 16.13 16.13 0.91
Q1 2009 15.60 15.60 0.94
Q2 2009 19.30 19.30 1.19
Q3 2009 19.79 19.79 1.23
Q4 2009 17.03 17.03 1.11
Q1 2010 18.81 18.81 1.22
Q2 2010 20.42 20.42 1.39
Q3 2010 21.63 21.63 1.41
Q4 2010 20.43 20.43 1.34
Q1 2011 20.45 20.45 1.40
Q2 2011 18.05 18.05 1.37
Q3 2011 17.17 17.17 1.41
Q4 2011 22.89 22.89 1.99
Q1 2012 17.36 17.36 2.31
Q2 2012 15.67 15.67 2.07
Q3 2012 15.85 15.85 2.10
Q4 2012 13.14 13.14 1.96
Q1 2013 - - -
Q2 2013 - - -
Q3 2013 - - -
Q4 2013 - - -
Q1 2014 24.82 24.82 2.66
Q2 2014 21.34 21.34 2.42
Q3 2014 23.90 23.90 2.60
Q4 2014 18.90 18.90 2.09
Q1 2015 - - -
Q2 2015 - - -

Business Segments (Million)

Compared With The
Period Commercial Centers Sector Public utility sector Sale of Land and Contributions Sector Joint Assets and liabilities
Q1 2009 29.29 8.18 - -
Q2 2009 31.31 8.09 0.02 -
Q3 2009 30.44 8.21 0.77 -
Q4 2009 30.77 8.42 - -
Q1 2010 30.35 8.25 - -
Q2 2010 32.81 8.51 - -
Q3 2010 31.30 8.27 - -
Q4 2010 33.42 8.87 1.20 -
Q1 2011 31.97 9.86 11.55 -
Q2 2011 38.96 9.89 - -
Q3 2011 36.86 10.39 - -
Q4 2011 37.03 10.43 - -
Q1 2012 34.71 9.74 96.18 -
Q2 2012 36.81 10.20 6.54 -
Q3 2012 32.63 12.76 - -
Q4 2012 35.12 13.55 59.18 -
Q1 2013 30.86 18.39 117.79 -
Q2 2013 32.20 19.27 16.15 -
Q3 2013 29.69 19.66 9.71 -
Q4 2013 33.08 19.48 9.58 -
Q1 2014 26.63 24.81 23.84 -
Q2 2014 39.22 15.19 12.28 -
Q3 2014 32.44 20.62 - -
Q4 2014 30.94 20.51 4.80 -
Q1 2015 32.11 21.23 46.72 -
Q2 2015 37.08 22.28 40.26 -


Financial Ratios
Current
Market Cap (M Riyal) 7,789.90
Enterprise Value (EV) (M) 7,448.98
Shares Outstanding ((M)) 233.93
EPS ( Riyal) (TTM) 1.67
Book Value (BV) ( Riyal) 14.31
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 27.06
P/E (TTM) 26.30
Price/book 3.06
Return on Average Assets (%) (TTM) 10.4
Return on Average Equity (%) (TTM) 12.0
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Share Price

Arriyadh Development Co.
33.30
0.10 0.30 %

Arriyadh Development Co. (ARDCO)

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