Al Othaim’s 9M 2024 profit at SAR 236.6M, Q3 at SAR 75.4M

Al Othaim’s 9M 2024 profit at SAR 236.6M, Q3 at SAR 75.4M

05/11/2024 Argaam Exclusive

View other reports

Abdullah Al Othaim Markets Co.’s net profit tumbled 26% to SAR 236.6 million in the first nine months of 2024, compared to SAR 321.8 million in the year-earlier period.



Financials (M)

Item 9m 2023 9m 2024 Change‬
Revenues 7,651.09 8,065.70 5.4 %
Gross Income 1,622.60 1,734.79 6.9 %
Operating Income 274.23 292.54 6.7 %
Net Income 321.82 236.60 (26.5 %)
Average Shares 900.00 900.00 -
EPS (Riyals) 0.36 0.26 (26.5 %)

The company said 9M 2023 included non-recurring capital gains from selling a land for SAR 96.99 million, after Zakat. Excluding these gains, the 9M 2024 bottom line grew 5.24% following a rise in sales by 5.42%, improved leasing activity and better associates’ performance. 

 

In addition, Al Othaim noted the reversal of Zakat provision for prior years amounting to SAR 17.7 million.

 

Meanwhile, operating profits grew by 6.68% in the first nine months of 2024.



Current Quarter Comparison (M)

Compared With The
Item Q3 2023 Q3 2024 Change‬
Revenues 2,444.68 2,563.10 4.8 %
Gross Income 539.73 564.82 4.6 %
Operating Income 86.68 87.03 0.4 %
Net Income 62.38 75.39 20.9 %
Average Shares 900.00 900.00 -
EPS (Riyals) 0.07 0.08 20.9 %

The third-quarter net profit rose 21% to SAR 75.4 million from SAR 62.4 million in Q3 2023.

 

Compared to Q2 2024, Al Othaim’s bottom line grew 74.2% from SAR 43.28 million.

 

Total shareholders’ equity, after minority interest, decreased to SAR 1.03 billion as of Sept. 30, 2024, from SAR 1.20 billion in the year-earlier period.

View More Financial Results

 


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
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 %
Q1 2016 1,606.16 14.1 % 265.48 25.0 % 34.64 22.4 %
Q2 2016 1,976.23 14.5 % 312.31 25.9 % 28.75 (17.9 %)
Q3 2016 1,569.57 16.4 % 271.63 22.7 % 14.30 (18.2 %)
Q4 2016 1,907.19 22.8 % 362.34 14.4 % 88.29 32.3 %
Q1 2017 1,696.23 5.6 % 319.69 20.4 % 47.29 36.5 %
Q2 2017 1,935.88 (2.0 %) 356.38 14.1 % 40.26 40.0 %
Q3 2017 1,627.85 3.7 % 318.56 17.3 % 27.23 90.4 %
Q4 2017 1,971.19 3.4 % 444.98 22.8 % 130.85 48.2 %
Q1 2018 1,798.26 6.0 % 341.54 6.8 % 45.33 (4.1 %)
Q2 2018 2,022.47 4.5 % 375.18 5.3 % 44.73 11.1 %
Q3 2018 1,744.69 7.2 % 339.78 6.7 % 25.89 (4.9 %)
Q4 2018 1,939.04 (1.6 %) 474.84 6.7 % 132.16 1.0 %
Q1 2019 1,959.32 9.0 % 386.48 13.2 % 58.11 28.2 %
Q2 2019 2,171.10 7.3 % 394.15 5.1 % 48.24 7.9 %
Q3 2019 1,936.92 11.0 % 400.01 17.7 % 67.00 158.8 %
Q4 2019 2,098.53 8.2 % 512.27 7.9 % 143.68 8.7 %
Q1 2020 2,379.50 21.4 % 459.32 18.8 % 92.82 59.7 %
Q2 2020 2,574.43 18.6 % 512.15 29.9 % 147.37 205.5 %
Q3 2020 1,812.81 (6.4 %) 411.63 2.9 % 59.73 (10.9 %)
Q4 2020 2,044.77 (2.6 %) 528.05 3.1 % 159.63 11.1 %
Q1 2021 2,097.15 (11.9 %) 419.22 (8.7 %) 47.30 (49.0 %)
Q2 2021 2,171.27 (15.7 %) 400.49 (21.8 %) 36.73 (75.1 %)
Q3 2021 2,000.74 10.4 % 400.94 (2.6 %) 36.21 (39.4 %)
Q4 2021 2,134.42 4.4 % 565.18 7.0 % 143.99 (9.8 %)
Q1 2022 2,462.38 17.4 % 507.10 21.0 % 83.95 77.5 %
Q2 2022 2,254.52 3.8 % 468.72 17.0 % 40.45 10.1 %
Q3 2022 2,340.54 17.0 % 481.25 20.0 % 45.65 26.1 %
Q4 2022 2,492.10 16.8 % 628.55 11.2 % 159.98 11.1 %
Q1 2023 2,784.64 13.1 % 574.25 13.2 % 101.76 21.2 %
Q2 2023 2,421.77 7.4 % 508.63 8.5 % 42.16 4.2 %
Q3 2023 2,444.68 4.4 % 539.73 12.2 % 86.68 89.9 %
Q4 2023 2,563.43 2.9 % 649.72 3.4 % 161.37 0.9 %
Q1 2024 3,038.86 9.1 % 627.93 9.3 % 108.90 7.0 %
Q2 2024 2,463.73 1.7 % 542.04 6.6 % 74.48 76.7 %
Q3 2024 2,563.10 4.8 % 564.82 4.6 % 87.03 0.4 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
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
Q1 2016 46.62 (4.6 %) 0.05 (8.60) 55.22 0.06
Q2 2016 49.76 (10.6 %) 0.06 - 49.76 0.06
Q3 2016 36.19 (2.4 %) 0.04 - 36.19 0.04
Q4 2016 95.50 7.0 % 0.11 (4.42) 99.92 0.11
Q1 2017 60.15 29.0 % 0.07 - 60.15 0.07
Q2 2017 71.21 43.1 % 0.08 - 71.21 0.08
Q3 2017 150.62 316.2 % 0.17 100.08 50.54 0.06
Q4 2017 167.52 75.4 % 0.19 11.87 155.66 0.17
Q1 2018 67.26 11.8 % 0.07 - 67.26 0.07
Q2 2018 74.11 4.1 % 0.08 - 74.11 0.08
Q3 2018 54.31 (63.9 %) 0.06 - 54.31 0.06
Q4 2018 106.92 (36.2 %) 0.12 (6.97) 113.89 0.13
Q1 2019 68.34 1.6 % 0.08 - 68.34 0.08
Q2 2019 58.73 (20.7 %) 0.07 - 58.73 0.07
Q3 2019 75.38 38.8 % 0.08 - 75.38 0.08
Q4 2019 142.23 33.0 % 0.16 - 142.23 0.16
Q1 2020 99.55 45.7 % 0.11 - 99.55 0.11
Q2 2020 125.25 113.3 % 0.14 - 125.25 0.14
Q3 2020 60.69 (19.5 %) 0.07 - 60.69 0.07
Q4 2020 165.48 16.3 % 0.18 6.87 158.61 0.18
Q1 2021 57.68 (42.1 %) 0.06 - 57.68 0.06
Q2 2021 47.93 (61.7 %) 0.05 - 47.93 0.05
Q3 2021 44.87 (26.1 %) 0.05 - 44.87 0.05
Q4 2021 149.64 (9.6 %) 0.17 - 149.64 0.17
Q1 2022 101.78 76.5 % 0.11 - 101.78 0.11
Q2 2022 50.04 4.4 % 0.06 - 50.04 0.06
Q3 2022 756.90 1586.9 % 0.84 719.18 37.72 0.04
Q4 2022 170.80 14.1 % 0.19 - 170.80 0.19
Q1 2023 120.01 17.9 % 0.13 - 120.01 0.13
Q2 2023 139.43 178.6 % 0.15 99.48 39.95 0.04
Q3 2023 62.38 (91.8 %) 0.07 - 62.38 0.07
Q4 2023 168.87 (1.1 %) 0.19 4.07 164.80 0.18
Q1 2024 117.93 (1.7 %) 0.13 - 117.93 0.13
Q2 2024 43.28 (69.0 %) 0.05 - 43.28 0.05
Q3 2024 75.39 20.9 % 0.08 17.70 57.69 0.06

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
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 %
Q1 2016 16.87 % 4.62 % 3.81 %
Q2 2016 17.21 % 4.44 % 3.57 %
Q3 2016 17.39 % 4.33 % 3.44 %
Q4 2016 17.17 % 4.40 % 3.42 %
Q1 2017 17.71 % 4.66 % 3.44 %
Q2 2017 18.43 % 4.91 % 3.76 %
Q3 2017 18.93 % 5.13 % 3.93 %
Q4 2017 19.91 % 5.69 % 4.67 %
Q1 2018 19.93 % 5.61 % 4.70 %
Q2 2018 19.95 % 5.70 % 4.68 %
Q3 2018 19.92 % 5.61 % 4.66 %
Q4 2018 20.41 % 5.79 % 4.13 %
Q1 2019 20.56 % 6.26 % 4.05 %
Q2 2019 20.41 % 6.59 % 3.78 %
Q3 2019 20.68 % 7.38 % 3.95 %
Q4 2019 20.73 % 7.79 % 4.22 %
Q1 2020 20.57 % 7.86 % 4.38 %
Q2 2020 20.96 % 8.68 % 4.92 %
Q3 2020 21.38 % 8.76 % 4.82 %
Q4 2020 21.69 % 8.99 % 5.04 %
Q1 2021 21.94 % 8.77 % 4.72 %
Q2 2021 21.65 % 7.84 % 4.00 %
Q3 2021 21.03 % 7.40 % 3.72 %
Q4 2021 21.25 % 7.16 % 3.57 %
Q1 2022 21.37 % 7.32 % 3.93 %
Q2 2022 21.94 % 7.34 % 3.91 %
Q3 2022 22.00 % 7.24 % 3.69 %
Q4 2022 21.84 % 7.25 % 3.77 %
Q1 2023 21.81 % 7.30 % 3.83 %
Q2 2023 21.84 % 7.31 % 3.67 %
Q3 2023 22.19 % 7.71 % 3.88 %
Q4 2023 22.25 % 7.73 % 3.79 %
Q1 2024 22.22 % 7.66 % 3.68 %
Q2 2024 22.45 % 8.02 % 3.70 %
Q3 2024 22.43 % - 3.61 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
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
Q1 2016 900.00 0.25 0.26 1.17
Q2 2016 900.00 0.25 0.26 1.23
Q3 2016 900.00 0.25 0.26 1.27
Q4 2016 900.00 0.25 0.27 1.37
Q1 2017 900.00 0.27 0.27 1.44
Q2 2017 900.00 0.29 0.30 1.41
Q3 2017 900.00 0.42 0.31 1.58
Q4 2017 900.00 0.50 0.38 1.66
Q1 2018 900.00 0.51 0.38 1.74
Q2 2018 900.00 0.51 0.39 1.67
Q3 2018 900.00 0.40 0.39 1.73
Q4 2018 900.00 0.34 0.34 1.84
Q1 2019 900.00 0.34 0.35 1.79
Q2 2019 900.00 0.32 0.33 1.56
Q3 2019 900.00 0.34 0.35 1.64
Q4 2019 900.00 0.38 0.38 1.65
Q1 2020 900.00 0.42 0.42 1.61
Q2 2020 900.00 0.49 0.49 1.75
Q3 2020 900.00 0.48 0.48 1.51
Q4 2020 900.00 0.50 0.49 1.69
Q1 2021 900.00 0.45 0.45 1.45
Q2 2021 900.00 0.37 0.36 1.51
Q3 2021 900.00 0.35 0.34 1.36
Q4 2021 900.00 0.33 0.33 1.52
Q1 2022 900.00 0.38 0.38 1.42
Q2 2022 900.00 0.38 0.38 1.49
Q3 2022 900.00 1.18 0.38 2.13
Q4 2022 900.00 1.20 0.40 1.56
Q1 2023 900.00 1.22 0.42 1.41
Q2 2023 900.00 1.32 0.41 1.57
Q3 2023 900.00 0.55 0.44 1.34
Q4 2023 900.00 0.55 0.43 1.51
Q1 2024 900.00 0.54 0.43 1.33
Q2 2024 900.00 0.44 0.43 1.23
Q3 2024 900.00 0.45 0.43 1.15

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
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
Q1 2016 16.93 16.32 3.67
Q2 2016 20.21 19.45 4.07
Q3 2016 15.47 14.89 3.01
Q4 2016 19.50 18.44 3.61
Q1 2017 20.49 20.12 3.83
Q2 2017 19.67 19.34 4.06
Q3 2017 14.62 19.58 3.88
Q4 2017 12.31 16.40 3.70
Q1 2018 15.18 20.11 4.44
Q2 2018 14.73 19.47 4.51
Q3 2018 17.30 17.88 4.04
Q4 2018 20.88 20.41 3.81
Q1 2019 21.37 20.89 4.02
Q2 2019 24.19 23.62 4.98
Q3 2019 24.03 23.50 5.03
Q4 2019 21.28 21.28 4.93
Q1 2020 22.22 22.22 5.76
Q2 2020 22.74 22.74 6.40
Q3 2020 27.27 27.27 8.57
Q4 2020 24.51 24.89 7.25
Q1 2021 27.81 28.28 8.70
Q2 2021 33.64 34.35 8.21
Q3 2021 32.07 32.79 8.30
Q4 2021 32.45 32.45 7.12
Q1 2022 30.59 30.59 8.23
Q2 2022 26.82 26.82 6.94
Q3 2022 10.49 32.74 5.79
Q4 2022 8.67 25.98 6.65
Q1 2023 10.49 30.43 9.06
Q2 2023 10.57 34.05 8.87
Q3 2023 24.77 31.04 10.11
Q4 2023 24.21 30.69 8.75
Q1 2024 24.50 31.09 10.00
Q2 2024 26.14 26.42 9.30
Q3 2024 26.46 27.96 10.33

Business Segments (Million)

Compared With The
Period Retail and wholesale Head office and leasing and others Others
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 -
Q1 2016 1,640.02 28.03 -
Q2 2016 2,020.19 28.36 -
Q3 2016 1,583.28 28.54 -
Q4 2016 1,928.23 38.64 -
Q1 2017 1,875.71 - -
Q2 2017 2,165.24 - -
Q3 2017 1,750.81 9.20 -
Q4 2017 2,189.82 - -
Q1 2018 1,772.52 - 25.74
Q2 2018 1,987.55 - 34.92
Q3 2018 1,701.84 - 42.85
Q4 2018 1,897.55 - 52.15
Q1 2019 1,902.26 - 57.40
Q2 2019 2,113.62 - 57.98
Q3 2019 1,871.89 - 65.47
Q4 2019 2,028.50 - 68.77
Q1 2020 2,307.18 - 72.31
Q2 2020 2,508.53 - 65.89
Q3 2020 1,750.05 - 62.76
Q4 2020 1,987.30 - 54.14
Q1 2021 2,042.29 - 54.85
Q2 2021 2,117.96 - 53.31
Q3 2021 1,949.68 - 51.17
Q4 2021 2,084.42 - 50.01
Q1 2022 2,410.51 - 51.87
Q2 2022 2,194.53 - 59.99
Q3 2022 2,275.72 - 64.82
Q4 2022 2,428.34 - 63.76
Q1 2023 2,725.04 - 59.61
Q2 2023 2,361.10 - 60.67
Q3 2023 2,382.60 - 62.07
Q4 2023 2,496.18 - 67.24
Q1 2024 2,969.14 - 69.73
Q2 2024 2,392.30 - 71.43
Q3 2024 2,484.94 - 78.16

Analysts Estimates (Million)

Item Q3 2024 (e) Q3 2024 (a) Change‬
Average 69.85 75.39 7.94 %

Estimates vs Actual (Million)

Item Q3 2024 (e) Q3 2024 (a) Change
OSOOL AND BAKHEET 75.16 75.39 0.3 %
Al Rajhi Capital 74.00 75.39 1.9 %
Goldman Sachs 72.00 75.39 4.7 %
AlJazira Capital 71.40 75.39 5.6 %
Sico 68.50 75.39 10.1 %
Hermes 68.00 75.39 10.9 %
U-Capital 65.50 75.39 15.1 %
SNB Capital 64.20 75.39 17.4 %


Financial Ratios
Current
Market Cap (M Riyal) 9,864.00
Enterprise Value (EV) (M) 9,926.51
Shares Outstanding ((M)) 900.00
EPS ( Riyal) (TTM) 0.45
Book Value (BV) ( Riyal) 1.15
Par Value ( Riyal) 1.00
Adjusted P/E (Last12) 25.71
P/E (TTM) 24.33
Price/book 9.49
Return on Average Assets (%) (TTM) 6.6
Return on Average Equity (%) (TTM) 36.1
more

Share Price

Abdullah Al Othaim Markets Co.
10.96
0.04 0.37 %

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

More

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.