Al Othaim’s net profit rises 8% to SAR 231 mln in FY15

Al Othaim’s net profit rises 8% to SAR 231 mln in FY15

21/01/2016 Argaam Exclusive

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Abdullah Al Othaim Markets Co. (Al Othaim), a major operator of supermarkets in Saudi Arabia, posted a net profit of SAR 230.88 million for the 2015 fiscal year; an eight percent year-on-year (YOY) rise the company attributed to an increase in sales, as well as higher revenue from rent and investments.



Financials (M)

Item 2014 2015 Change‬
Revenues 5,251.90 6,035.80 14.9 %
Gross Income 871.13 998.47 14.6 %
Operating Income 149.74 147.56 (1.5 %)
Net Income 214.78 230.87 7.5 %
Average Shares 900.00 900.00 -
Earnings Per Share before unusual items 0.24 0.26 7.5 %
EPS (Riyals) 0.24 0.26 7.5 %

 

The company’s net profit for Q4-2015 jumped 20 percent to SAR 89.23 million, while profit for the quarter surged 141 percent when compared to Q3-2015.



Current Quarter Comparison (M)

Compared With The
Item Q4 2014 Q4 2015 Change‬
Revenues 1,308.74 1,553.36 18.7 %
Gross Income 252.01 316.73 25.7 %
Operating Income 62.57 66.74 6.7 %
Net Income 74.23 89.23 20.2 %
Average Shares 900.00 900.00 -
Earnings Per Share before unusual items 0.08 0.10 20.2 %
EPS (Riyals) 0.08 0.10 20.2 %


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2006 - - - - - -
Q2 2006 - - - - - -
Q3 2006 515.14 - 31.25 - 9.69 -
Q4 2006 426.25 - 14.90 - (4.97) -
Q1 2007 - - - - - -
Q2 2007 - - - - - -
Q3 2007 732.74 42.2 % 36.16 15.7 % 8.84 (8.8 %)
Q4 2007 601.81 41.2 % 26.26 76.3 % 2.69 154.0 %
Q1 2008 671.75 - 36.69 - 11.80 -
Q2 2008 716.24 - 23.97 - (5.47) -
Q3 2008 780.89 6.6 % 23.96 (33.7 %) (4.30) (148.7 %)
Q4 2008 671.64 11.6 % 33.58 27.9 % (4.27) (258.9 %)
Q1 2009 717.56 6.8 % 23.96 (34.7 %) (2.18) (118.5 %)
Q2 2009 723.85 1.1 % 27.48 14.7 % (0.94) 82.9 %
Q3 2009 861.61 10.3 % 35.33 47.5 % 6.91 260.6 %
Q4 2009 762.12 13.5 % 51.00 51.9 % 15.91 473.0 %
Q1 2010 779.56 8.6 % 37.59 56.9 % 10.58 585.6 %
Q2 2010 821.67 13.5 % 38.46 39.9 % 6.23 764.9 %
Q3 2010 941.39 9.3 % 42.72 20.9 % 5.70 (17.5 %)
Q4 2010 879.81 15.4 % 63.20 23.9 % 26.26 65.0 %
Q1 2011 934.19 19.8 % 45.06 19.9 % 10.86 2.6 %
Q2 2011 987.16 20.1 % 43.82 13.9 % 5.40 (13.3 %)
Q3 2011 1,096.14 16.4 % 42.42 (0.7 %) (7.41) (229.9 %)
Q4 2011 925.31 5.2 % 43.73 (30.8 %) 0.66 (97.5 %)
Q1 2012 976.27 4.5 % 35.50 (21.2 %) (4.40) (140.6 %)
Q2 2012 1,020.85 3.4 % 286.50 553.8 % 53.35 888.1 %
Q3 2012 1,122.32 2.4 % 184.90 335.9 % 25.55 444.8 %
Q4 2012 985.76 6.5 % 178.02 307.1 % 42.40 6333.7 %
Q1 2013 1,066.43 9.2 % 164.06 362.2 % 28.81 754.3 %
Q2 2013 1,161.19 13.7 % 176.39 (38.4 %) 19.51 (63.4 %)
Q3 2013 1,193.14 6.3 % 199.41 7.8 % 22.07 (13.6 %)
Q4 2013 1,159.21 17.6 % 231.29 29.9 % 50.21 18.4 %
Q1 2014 1,222.98 14.7 % 204.66 24.7 % 29.16 1.2 %
Q2 2014 1,511.39 30.2 % 219.39 24.4 % 37.34 91.4 %
Q3 2014 1,208.79 1.3 % 195.07 (2.2 %) 20.67 (6.3 %)
Q4 2014 1,308.74 12.9 % 252.01 9.0 % 62.57 24.6 %
Q1 2015 1,408.03 15.1 % 212.36 3.8 % 28.31 (2.9 %)
Q2 2015 1,725.54 14.2 % 247.99 13.0 % 35.03 (6.2 %)
Q3 2015 1,348.87 11.6 % 221.39 13.5 % 17.48 (15.5 %)
Q4 2015 1,553.36 18.7 % 316.73 25.7 % 66.74 6.7 %
2015 6,035.80 14.9 % 998.47 14.6 % 147.56 (1.5 %)


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 22.07 - 0.02 - 22.07 0.02
Q4 2006 12.15 - 0.01 - 12.15 0.01
Q1 2007 - - - - - -
Q2 2007 - - - - - -
Q3 2007 18.61 (15.7 %) 0.02 - 18.61 0.02
Q4 2007 14.80 21.8 % 0.02 - 14.80 0.02
Q1 2008 23.50 - 0.03 - 23.50 0.03
Q2 2008 14.45 - 0.02 - 14.45 0.02
Q3 2008 14.19 (23.7 %) 0.02 - 14.19 0.02
Q4 2008 10.13 (31.6 %) 0.01 - 10.13 0.01
Q1 2009 16.36 (30.4 %) 0.02 - 16.36 0.02
Q2 2009 19.51 35.0 % 0.02 - 19.51 0.02
Q3 2009 25.20 77.6 % 0.03 - 25.20 0.03
Q4 2009 16.46 62.5 % 0.02 (18.82) 35.28 0.04
Q1 2010 31.74 94.1 % 0.04 - 31.74 0.04
Q2 2010 31.32 60.6 % 0.03 - 31.32 0.03
Q3 2010 45.87 82.0 % 0.05 - 45.87 0.05
Q4 2010 53.00 222.0 % 0.06 - 53.00 0.06
Q1 2011 36.50 15.0 % 0.04 (5.31) 41.81 0.05
Q2 2011 41.10 31.2 % 0.05 (0.58) 41.69 0.05
Q3 2011 35.99 (21.5 %) 0.04 - 35.99 0.04
Q4 2011 36.48 (31.2 %) 0.04 - 30.59 0.03
Q1 2012 33.86 (7.3 %) 0.04 - 33.86 0.04
Q2 2012 36.76 (10.6 %) 0.04 - 36.76 0.04
Q3 2012 40.68 13.0 % 0.05 - 40.68 0.05
Q4 2012 60.47 65.8 % 0.07 - 60.47 0.07
Q1 2013 40.81 20.5 % 0.05 - 40.81 0.05
Q2 2013 39.73 8.1 % 0.04 - 39.73 0.04
Q3 2013 41.94 3.1 % 0.05 - 41.94 0.05
Q4 2013 70.03 15.8 % 0.08 - 70.03 0.08
Q1 2014 46.47 13.9 % 0.05 - 46.47 0.05
Q2 2014 51.79 30.3 % 0.06 - 51.79 0.06
Q3 2014 42.29 0.8 % 0.05 - 42.29 0.05
Q4 2014 74.23 6.0 % 0.08 - 74.23 0.08
Q1 2015 48.89 5.2 % 0.05 - 48.89 0.05
Q2 2015 55.66 7.5 % 0.06 - 55.66 0.06
Q3 2015 37.09 (12.3 %) 0.04 - 37.09 0.04
Q4 2015 89.23 20.2 % 0.10 - 89.23 0.10
2015 230.87 7.5 % 0.26 - 230.87 0.26

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2006 - - -
Q2 2006 - - -
Q3 2006 - - -
Q4 2006 - - -
Q1 2007 - - -
Q2 2007 - - -
Q3 2007 - - -
Q4 2007 - - -
Q1 2008 - - -
Q2 2008 4.52 % 1.88 % 2.62 %
Q3 2008 4.00 % 1.44 % 2.42 %
Q4 2008 4.16 % 1.24 % 2.19 %
Q1 2009 3.65 % 0.81 % 1.91 %
Q2 2009 3.77 % 1.02 % 2.08 %
Q3 2009 4.05 % 1.43 % 2.39 %
Q4 2009 4.49 % 2.09 % 3.14 %
Q1 2010 4.84 % 2.51 % 3.57 %
Q2 2010 5.04 % 2.68 % 3.83 %
Q3 2010 5.14 % 2.62 % 4.36 %
Q4 2010 5.32 % 2.88 % 4.73 %
Q1 2011 5.30 % 2.93 % 4.81 %
Q2 2011 5.20 % 2.96 % 4.87 %
Q3 2011 4.99 % 2.67 % 4.43 %
Q4 2011 4.44 % 2.15 % 3.81 %
Q1 2012 4.15 % 1.79 % 3.57 %
Q2 2012 10.16 % 3.03 % 3.41 %
Q3 2012 13.61 % 3.88 % 3.51 %
Q4 2012 16.68 % 4.90 % 4.18 %
Q1 2013 19.39 % 5.62 % 4.26 %
Q2 2013 16.22 % 4.71 % 4.19 %
Q3 2013 16.29 % 4.60 % 4.15 %
Q4 2013 16.84 % 4.65 % 4.20 %
Q1 2014 17.14 % 4.57 % 4.18 %
Q2 2014 16.80 % 4.65 % 4.13 %
Q3 2014 16.67 % 4.66 % 4.13 %
Q4 2014 16.59 % 4.81 % 4.09 %
Q1 2015 16.16 % 4.69 % 3.99 %
Q2 2015 16.06 % 4.53 % 3.91 %
Q3 2015 16.12 % 4.45 % 3.73 %
Q4 2015 16.54 % 4.58 % 3.83 %
2015 16.54 % 4.58 % 3.83 %


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 - - - -
Q2 2006 - - - -
Q3 2006 900.00 - - 0.30
Q4 2006 900.00 - - 0.26
Q1 2007 - - - -
Q2 2007 - - - -
Q3 2007 900.00 - - 0.26
Q4 2007 900.00 - - 0.26
Q1 2008 900.00 - - 0.29
Q2 2008 900.00 0.08 0.08 0.31
Q3 2008 900.00 0.07 0.07 0.32
Q4 2008 900.00 0.07 0.07 0.33
Q1 2009 900.00 0.06 0.06 0.35
Q2 2009 900.00 0.07 0.07 0.33
Q3 2009 900.00 0.08 0.08 0.36
Q4 2009 900.00 0.09 0.11 0.38
Q1 2010 900.00 0.10 0.12 0.35
Q2 2010 900.00 0.12 0.14 0.39
Q3 2010 900.00 0.14 0.16 0.44
Q4 2010 900.00 0.18 0.18 0.50
Q1 2011 900.00 0.19 0.19 0.46
Q2 2011 900.00 0.20 0.20 0.51
Q3 2011 900.00 0.19 0.19 0.55
Q4 2011 900.00 0.17 0.17 0.59
Q1 2012 900.00 0.16 0.16 0.63
Q2 2012 900.00 0.16 0.15 0.67
Q3 2012 900.00 0.16 0.16 0.71
Q4 2012 900.00 0.19 0.19 0.76
Q1 2013 900.00 0.20 0.20 0.80
Q2 2013 900.00 0.20 0.20 0.77
Q3 2013 900.00 0.20 0.20 0.82
Q4 2013 900.00 0.21 0.21 0.90
Q1 2014 900.00 0.22 0.22 0.95
Q2 2014 900.00 0.23 0.23 0.93
Q3 2014 900.00 0.23 0.23 0.98
Q4 2014 900.00 0.24 0.24 1.06
Q1 2015 900.00 0.24 0.24 1.11
Q2 2015 900.00 0.25 0.25 1.09
Q3 2015 900.00 0.24 0.24 1.13
Q4 2015 900.00 0.26 0.26 1.23

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2006 - - -
Q2 2006 - - -
Q3 2006 - - -
Q4 2006 - - -
Q1 2007 - - -
Q2 2007 - - -
Q3 2007 - - -
Q4 2007 - - -
Q1 2008 - - -
Q2 2008 - - -
Q3 2008 13.49 13.49 3.12
Q4 2008 14.45 14.45 3.01
Q1 2009 15.48 15.48 2.70
Q2 2009 22.06 22.06 4.41
Q3 2009 14.96 14.96 3.26
Q4 2009 14.73 11.86 3.33
Q1 2010 14.47 12.04 4.22
Q2 2010 16.44 13.94 4.92
Q3 2010 12.47 10.85 3.95
Q4 2010 10.84 10.84 3.91
Q1 2011 12.46 12.07 4.97
Q2 2011 12.40 12.00 4.77
Q3 2011 13.04 12.59 4.39
Q4 2011 14.99 14.99 4.23
Q1 2012 13.89 14.41 3.62
Q2 2012 13.45 14.02 3.20
Q3 2012 13.48 14.04 3.10
Q4 2012 10.78 10.78 2.72
Q1 2013 10.48 10.48 2.60
Q2 2013 13.87 13.87 3.63
Q3 2013 16.11 16.11 4.01
Q4 2013 14.58 14.58 3.48
Q1 2014 20.10 20.10 4.67
Q2 2014 22.80 22.80 5.73
Q3 2014 24.55 24.55 5.88
Q4 2014 22.06 22.06 4.97
Q1 2015 21.92 21.92 4.75
Q2 2015 21.91 21.91 4.93
Q3 2015 19.12 19.12 4.06
Q4 2015 17.34 17.34 3.62

Business Segments (Million)

Compared With The
Period Retail and wholesale Head office and leasing and others
Q1 2011 934.19 32.34
Q2 2011 987.16 38.21
Q3 2011 1,096.14 40.08
Q4 2011 925.31 37.48
Q1 2012 976.27 36.44
Q2 2012 1,020.85 3.02
Q3 2012 1,122.32 20.32
Q4 2012 985.76 21.90
Q1 2013 1,066.43 21.50
Q2 2013 1,161.19 23.94
Q3 2013 1,193.14 23.78
Q4 2013 1,159.21 23.98
Q1 2014 1,222.98 24.03
Q2 2014 1,511.39 22.85
Q3 2014 1,208.79 26.42
Q4 2014 1,308.74 22.64
Q1 2015 1,408.03 26.15
Q2 2015 1,725.54 27.56
Q3 2015 1,348.57 26.93
Q4 2015 1,553.66 30.55

Analysts Estimates (Million)

Item Q4 2015 (e) Q4 2015 (a) Change‬
Average 75.36 89.23 18.40 %

Estimates vs Actual (Million)

Item Q4 2015 (e) Q4 2015 (a) Change
SNB Capital 80.60 89.23 10.7 %
Al Rajhi Capital 79.40 89.23 12.4 %
SFC 79.00 89.23 13.0 %
Albilad Capital 79.00 89.23 13.0 %
AlJazira Capital 77.30 89.23 15.4 %
NBK Capital 77.00 89.23 15.9 %
Alistithmar Capital 75.40 89.23 18.3 %
Value Capital 55.20 89.23 61.7 %


Financial Ratios
Current
Market Cap (M Riyal) 8,802.00
Enterprise Value (EV) (M) 9,047.98
Shares Outstanding ((M)) 900.00
EPS ( Riyal) (TTM) 0.58
Book Value (BV) ( Riyal) 1.53
Par Value ( Riyal) 1.00
Adjusted P/E (Last12) 25.58
P/E (TTM) 16.83
Price/book 6.41
Return on Average Assets (%) (TTM) 8.0
Return on Average Equity (%) (TTM) 14.1
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Share Price

Abdullah Al Othaim Markets Co.
9.78
0.03 0.31 %

Abdullah Al Othaim Markets Co. (A.OTHAIM MARKET)

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