Fawaz Alhokair incurs SAR 681.2 mln losses in FY2020

Fawaz Alhokair incurs SAR 681.2 mln losses in FY2020

30/06/2020 Argaam Exclusive

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Fawaz Abdulaziz Alhokair Co. sustained a net loss after zakat and tax of SAR 681.2 million for the fiscal year ended March 2020, against a net profit of SAR 138.1 million a year earlier.



Financials (M)

Item 2018 2019 Change‬
Revenues 5,425.80 5,341.79 (1.5 %)
Gross Income 1,084.50 995.88 (8.2 %)
Operating Income 335.80 344.01 2.4 %
Net Income 144.75 (656.26) (553.4 %)
Average Shares 114.77 114.77 -
EPS (Riyals) 1.26 (5.72) (553.4 %)


Current Quarter Comparison (M)

Compared With The
Item Q4 2018 Q4 2019 Change‬
Revenues 1,072.57 1,085.03 1.2 %
Gross Income 34.57 46.84 35.5 %
Operating Income (84.52) (163.11) (93.0 %)
Net Income (141.00) (887.56) (529.5 %)
Average Shares 114.77 114.77 -
EPS (Riyals) (1.23) (7.73) (529.5 %)

The losses were attributed to a decline of 1.6% in FY2020 revenue, due to the implementation of a portfolio optimization strategy and the temporary closure of the company’s retail units as a result of the COVID-19 pandemic.

 

Depreciation and amortization expenses also increased to SAR 295.5 million in FY2020, up 1.9% or SAR 5.6 million compared to a year earlier.

 

Impairments also rose to SAR 242.5 million in the same fiscal year from SAR 2.6 million in FY2019 as the company recorded a one-time asset impairment following a reappraisal of legacy assets.

 

Finance costs also increased to SAR 451.5 million in FY2020, up by 124.7% or SAR 250.6 million on an annual basis.

 

In Q4, the fashion retailer incurred net losses of SAR 912.51 million.



Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2010 501.49 30.4 % 245.48 32.8 % 43.62 33.9 %
Q2 2010 867.35 18.1 % 370.45 14.2 % 140.25 3.9 %
Q3 2010 593.10 28.1 % 266.86 23.1 % 42.26 14.4 %
Q4 2010 612.67 24.4 % 256.34 18.4 % 35.82 (1.8 %)
Q1 2011 724.67 44.5 % 334.79 36.4 % 92.77 112.7 %
Q2 2011 1,008.54 16.3 % 134.98 (63.6 %) 202.74 44.6 %
Q3 2011 758.32 27.9 % 165.29 (38.1 %) 82.68 95.7 %
Q4 2011 711.13 16.1 % 154.93 (39.6 %) 61.09 70.6 %
Q1 2012 865.28 19.4 % 224.13 (33.1 %) 108.31 16.8 %
Q2 2012 1,383.29 37.2 % 404.35 199.6 % 266.77 31.6 %
Q3 2012 1,172.92 54.7 % 261.56 58.2 % 117.28 41.8 %
Q4 2012 1,237.05 74.0 % 240.33 55.1 % 91.58 49.9 %
Q1 2013 1,258.32 45.4 % 339.66 51.5 % 175.15 61.7 %
Q2 2013 1,569.70 13.5 % 452.91 12.0 % 282.60 5.9 %
Q3 2013 1,297.24 10.6 % 322.90 23.5 % 142.66 21.6 %
Q4 2013 1,357.14 9.7 % 282.50 17.5 % 119.79 30.8 %
Q1 2014 1,664.57 32.3 % 441.75 30.1 % 215.89 23.3 %
Q2 2014 2,071.64 32.0 % 574.47 26.8 % 290.39 2.8 %
Q3 2014 1,548.51 19.4 % 362.94 12.4 % 126.18 (11.6 %)
Q4 2014 1,613.95 18.9 % 408.02 44.4 % 213.39 78.1 %
Q1 2015 1,870.41 12.4 % 512.96 16.1 % 265.93 23.2 %
Q2 2015 2,102.21 1.5 % 618.82 7.7 % 374.36 28.9 %
Q3 2015 1,454.96 (6.0 %) 394.62 8.7 % 152.45 20.8 %
Q4 2015 1,515.98 (6.1 %) 239.39 (41.3 %) 59.35 (72.2 %)
Q1 2016 2,189.93 17.1 % 568.80 10.9 % 318.72 19.9 %
Q2 2016 1,665.26 (20.8 %) 315.61 (49.0 %) 109.86 (70.7 %)
Q3 2016 1,430.49 (1.7 %) 311.56 (21.0 %) 93.81 (38.5 %)
Q4 2016 1,405.98 (7.3 %) 321.10 34.1 % 70.41 18.6 %
Q1 2017 2,069.94 (5.5 %) 550.46 (3.2 %) 306.04 (4.0 %)
Q2 2017 1,503.55 (9.7 %) 300.12 (4.9 %) 86.21 (21.5 %)
Q3 2017 1,349.77 (5.6 %) 318.71 2.3 % 89.02 (5.1 %)
Q4 2017 1,193.26 (15.1 %) 45.34 (85.9 %) (179.56) (355.0 %)
Q1 2018 1,845.73 (10.8 %) 523.34 (4.9 %) 304.88 (0.4 %)
Q2 2018 1,273.97 (15.3 %) 249.91 (16.7 %) 54.49 (36.8 %)
Q3 2018 1,233.53 (8.6 %) 276.69 (13.2 %) 60.95 (31.5 %)
Q4 2018 1,072.57 (10.1 %) 34.57 (23.8 %) (84.52) 52.9 %
Q1 2019 1,732.40 (6.1 %) 507.52 (3.0 %) 357.03 17.1 %
Q2 2019 1,234.59 (3.1 %) 183.28 (26.7 %) 43.84 (19.5 %)
Q3 2019 1,289.78 4.6 % 258.24 (6.7 %) 102.14 67.6 %
Q4 2019 1,085.03 1.2 % 46.84 35.5 % (163.11) (93.0 %)
2019 5,341.79 (1.5 %) 995.88 (8.2 %) 344.01 2.4 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2010 52.14 54.2 % 0.45 - 52.14 0.45
Q2 2010 174.04 36.4 % 1.52 - 174.04 1.52
Q3 2010 33.93 (20.0 %) 0.30 - 33.93 0.30
Q4 2010 55.36 99.6 % 0.48 - 55.36 0.48
Q1 2011 81.69 56.7 % 0.71 - 81.69 0.71
Q2 2011 201.89 16.0 % 1.76 - 201.89 1.76
Q3 2011 76.49 125.4 % 0.67 - 76.49 0.67
Q4 2011 87.32 57.7 % 0.76 - 87.32 0.76
Q1 2012 120.90 48.0 % 1.05 - 120.90 1.05
Q2 2012 252.44 25.0 % 2.20 - 252.44 2.20
Q3 2012 110.50 44.5 % 0.96 - 110.50 0.96
Q4 2012 135.86 55.6 % 1.18 - 135.86 1.18
Q1 2013 165.18 36.6 % 1.44 - 165.18 1.44
Q2 2013 282.09 11.7 % 2.46 - 282.09 2.46
Q3 2013 133.32 20.7 % 1.16 - 133.32 1.16
Q4 2013 190.78 40.4 % 1.66 - 190.78 1.66
Q1 2014 191.27 15.8 % 1.67 - 191.27 1.67
Q2 2014 303.74 7.7 % 2.65 - 303.74 2.65
Q3 2014 106.20 (20.3 %) 0.93 - 106.20 0.93
Q4 2014 201.74 5.7 % 1.76 - 201.74 1.76
Q1 2015 210.80 10.2 % 1.84 (19.12) 229.93 2.00
Q2 2015 310.67 2.3 % 2.71 (30.40) 341.06 2.97
Q3 2015 91.17 (14.1 %) 0.79 (33.60) 124.77 1.09
Q4 2015 3.17 (98.4 %) 0.03 (54.65) 57.81 0.50
Q1 2016 223.19 5.9 % 1.94 (57.45) 280.64 2.45
Q2 2016 66.82 (78.5 %) 0.58 - 66.82 0.58
Q3 2016 49.26 (46.0 %) 0.43 - 49.26 0.43
Q4 2016 86.09 2620.1 % 0.75 - 86.09 0.75
Q1 2017 232.41 4.1 % 2.03 - 232.41 2.03
Q2 2017 6.84 (89.8 %) 0.06 (41.07) 47.91 0.42
Q3 2017 48.69 (1.2 %) 0.42 - 48.69 0.42
Q4 2017 (184.45) (314.3 %) (1.61) - (184.45) (1.61)
Q1 2018 249.19 7.2 % 2.17 - 249.19 2.17
Q2 2018 10.03 46.6 % 0.09 - 10.03 0.09
Q3 2018 26.53 (45.5 %) 0.23 26.26 0.27 0.00
Q4 2018 (141.00) 23.6 % (1.23) (1.20) (139.80) (1.22)
Q1 2019 224.05 (10.1 %) 1.95 (5.98) 230.02 2.00
Q2 2019 (27.22) (371.4 %) (0.24) (2.86) (24.36) (0.21)
Q3 2019 34.47 30.0 % 0.30 140.38 (105.91) (0.92)
Q4 2019 (887.56) (529.5 %) (7.73) (578.84) (308.72) (2.69)
2019 (656.26) (553.4 %) (5.72) (447.30) (208.96) (1.82)

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2010 45.78 % 15.43 % 11.40 %
Q2 2010 45.14 % 14.85 % 12.75 %
Q3 2010 44.79 % 14.59 % 11.73 %
Q4 2010 44.24 % 14.14 % 12.25 %
Q1 2011 43.91 % 14.95 % 12.33 %
Q2 2011 33.79 % 16.36 % 12.69 %
Q3 2011 28.72 % 16.83 % 13.38 %
Q4 2011 24.67 % 17.27 % 13.97 %
Q1 2012 20.32 % 17.17 % 14.55 %
Q2 2012 25.52 % 17.58 % 14.45 %
Q3 2012 25.29 % 17.06 % 13.82 %
Q4 2012 24.26 % 16.26 % 13.30 %
Q1 2013 24.66 % 16.64 % 13.14 %
Q2 2013 24.71 % 16.58 % 13.24 %
Q3 2013 25.28 % 16.90 % 13.36 %
Q4 2013 25.50 % 17.25 % 14.07 %
Q1 2014 25.47 % 17.04 % 13.54 %
Q2 2014 25.38 % 16.13 % 12.82 %
Q3 2014 25.02 % 15.50 % 11.92 %
Q4 2014 25.91 % 16.45 % 11.64 %
Q1 2015 26.16 % 16.89 % 11.85 %
Q2 2015 26.67 % 18.17 % 12.32 %
Q3 2015 27.47 % 18.99 % 12.75 %
Q4 2015 25.43 % 17.09 % 10.85 %
Q1 2016 25.08 % 17.13 % 11.07 %
Q2 2016 22.24 % 14.15 % 7.76 %
Q3 2016 21.10 % 13.08 % 6.68 %
Q4 2016 22.67 % 13.51 % 7.22 %
Q1 2017 22.81 % 13.40 % 6.61 %
Q2 2017 23.14 % 13.41 % 6.48 %
Q3 2017 23.55 % 13.55 % 6.56 %
Q4 2017 19.86 % 10.13 % 2.36 %
Q1 2018 20.15 % 10.52 % 2.74 %
Q2 2018 20.08 % 10.35 % 2.18 %
Q3 2018 19.75 % 10.08 % 1.35 %
Q4 2018 19.99 % 11.53 % 2.21 %
Q1 2019 20.12 % 15.28 % 1.89 %
Q2 2019 19.00 % 18.25 % 1.25 %
Q3 2019 18.46 % 21.50 % (0.75 %)
Q4 2019 18.64 % 22.90 % (3.91 %)
2019 18.64 % 22.98 % (3.91 %)


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2010 114.77 2.18 2.18 8.77
Q2 2010 114.77 2.58 2.58 10.29
Q3 2010 114.77 2.51 2.51 10.58
Q4 2010 114.77 2.75 2.75 9.54
Q1 2011 114.77 3.01 3.01 10.25
Q2 2011 114.77 3.25 3.25 12.01
Q3 2011 114.77 3.62 3.62 12.68
Q4 2011 114.77 3.90 3.90 12.22
Q1 2012 114.77 4.24 4.24 13.27
Q2 2012 114.77 4.68 4.68 15.47
Q3 2012 114.77 4.98 4.98 16.43
Q4 2012 114.77 5.40 5.40 17.62
Q1 2013 114.77 5.79 5.79 17.23
Q2 2013 114.77 6.04 6.04 19.68
Q3 2013 114.77 6.24 6.24 19.47
Q4 2013 114.77 6.72 6.72 21.14
Q1 2014 114.77 6.95 6.95 20.06
Q2 2014 114.77 7.14 7.14 22.70
Q3 2014 114.77 6.90 6.90 21.34
Q4 2014 114.77 7.00 7.00 20.91
Q1 2015 114.77 7.17 7.33 20.84
Q2 2015 114.77 7.23 7.66 22.71
Q3 2015 114.77 7.10 7.82 22.66
Q4 2015 114.77 5.37 6.57 22.73
Q1 2016 114.77 5.47 7.01 23.45
Q2 2016 114.77 3.35 4.62 23.76
Q3 2016 114.77 2.98 3.96 22.86
Q4 2016 114.77 3.71 4.21 18.41
Q1 2017 114.77 3.79 3.79 25.99
Q2 2017 114.77 3.26 3.62 25.84
Q3 2017 114.77 3.26 3.62 26.00
Q4 2017 114.77 0.90 1.26 19.59
Q1 2018 114.77 1.05 1.41 21.71
Q2 2018 114.77 1.08 1.08 21.81
Q3 2018 114.77 0.88 0.65 22.01
Q4 2018 114.77 1.26 1.04 21.59
Q1 2019 114.77 1.04 0.88 23.52
Q2 2019 114.77 0.72 0.58 22.93
Q3 2019 114.77 0.79 (0.35) 23.25
Q4 2019 114.77 (5.72) (1.82) 14.07

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2010 11.52 11.52 2.86
Q2 2010 9.71 9.71 2.44
Q3 2010 11.43 11.43 2.71
Q4 2010 9.55 9.55 2.75
Q1 2011 8.79 8.79 2.58
Q2 2011 8.90 8.90 2.41
Q3 2011 9.23 9.23 2.63
Q4 2011 10.09 10.09 3.22
Q1 2012 10.86 10.86 3.47
Q2 2012 10.46 10.46 3.16
Q3 2012 11.12 11.12 3.37
Q4 2012 11.75 11.75 3.60
Q1 2013 13.05 13.05 4.38
Q2 2013 15.85 15.85 4.87
Q3 2013 19.79 19.79 6.34
Q4 2013 18.92 18.92 6.02
Q1 2014 23.70 23.70 8.21
Q2 2014 24.43 24.43 7.68
Q3 2014 33.28 33.28 10.76
Q4 2014 25.89 25.89 8.66
Q1 2015 24.68 24.12 8.49
Q2 2015 24.81 23.41 7.90
Q3 2015 16.90 15.33 5.29
Q4 2015 24.10 19.69 5.69
Q1 2016 13.92 10.87 3.25
Q2 2016 24.42 17.71 3.44
Q3 2016 20.62 15.53 2.69
Q4 2016 18.17 16.01 3.66
Q1 2017 15.54 15.54 2.26
Q2 2017 23.59 21.26 2.98
Q3 2017 24.22 21.83 3.04
Q4 2017 61.70 44.17 2.84
Q1 2018 46.73 34.83 2.26
Q2 2018 44.06 44.06 2.17
Q3 2018 48.47 65.43 1.94
Q4 2018 31.92 38.60 1.87
Q1 2019 43.09 51.27 1.91
Q2 2019 58.40 72.72 1.83
Q3 2019 60.01 NEG 2.03
Q4 2019 NEG NEG 3.33

Business Segments (Million)

Compared With The
Period Fashion Retail Indoor Entertainment Food and Beverages
Q1 2016 2,174.25 15.68 -
Q2 2016 1,654.59 10.67 -
Q1 2017 2,051.25 18.69 -
Q2 2017 1,487.68 15.87 -
Q3 2017 1,349.77 - -
Q4 2017 1,146.74 46.52 -
Q1 2018 1,826.98 18.75 -
Q2 2018 1,254.22 19.75 -
Q3 2018 1,213.86 19.67 -
Q4 2018 1,108.20 (35.63) -
Q1 2019 1,714.68 17.71 -
Q2 2019 1,217.02 17.57 -
Q3 2019 1,270.18 19.60 -
Q4 2019 1,012.92 19.35 52.76


Financial Ratios
Current
Market Cap (M Riyal) 1,412.04
Enterprise Value (EV) (M) 3,123.62
Shares Outstanding ((M)) 114.80
EPS ( Riyal) (TTM) (9.92)
Book Value (BV) ( Riyal) (7.04)
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book (1.75)
Return on Average Assets (%) (TTM) (19.50 )
Return on Average Equity (%) (TTM) -
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Share Price

Fawaz Abdulaziz Alhokair Co.
12.30
(0.10) (0.81 %)

Fawaz Abdulaziz Alhokair Co. (CENOMI RETAIL)

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