Fawaz Alhokair net profit up 16% to SAR 79.7 mln in H1 2022/23, Q2 at SAR 22.1 mln

Fawaz Alhokair net profit up 16% to SAR 79.7 mln in H1 2022/23, Q2 at SAR 22.1 mln

02/11/2022 Argaam Exclusive

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Fawaz Abdulaziz Alhokair Co. reported a net profit of SAR 79.7 million in the six months ended Sept. 30, 2022, a 16% increase compared to SAR 68.6 million in the year-ago period.

 

The profit increase was driven by lower selling, general and administrative expenses and financing costs.

 



Financials (M)

Item 6m 2021 6m 2022 Change‬
Revenues 3,061.98 3,092.37 1.0 %
Gross Income 564.94 421.40 (25.4 %)
Operating Income 201.71 128.92 (36.1 %)
Net Income 68.61 2.04 (97.0 %)
Average Shares 114.77 114.77 -
EPS (Riyals) 0.60 0.02 (97.0 %)

In Q2 2022/23, the net profit rose to SAR 22.1 million, from SAR 21.7 million in the year-before period.

 

Sequentially, the company’s net profit fell 61.6% from SAR 57.6 million in Q1 2022/23, on lower performance in the domestic market, which largely outweighed the sustained recovery in F&B and international retail.



Current Quarter Comparison (M)

Compared With The
Item Q2 2021 Q2 2022 Change‬
Revenues 1,361.28 1,705.64 25.3 %
Gross Income 232.34 240.07 3.3 %
Operating Income 77.15 69.64 (9.7 %)
Net Income 21.73 42.82 97.1 %
Average Shares 114.77 114.77 -
EPS (Riyals) 0.19 0.37 97.1 %

Shareholders’ equity, including minority interest, grew to SAR 595.5 million as of Sept. 30, 2022, from SAR 532.2 million in the year-earlier period.

View More Financial Results

 


Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Riyal)
Q1 2013 1,258.32 45.4 % 339.66 51.5 % 165.18 36.6 % 1.44
Q2 2013 1,569.70 13.5 % 452.91 12.0 % 282.09 11.7 % 2.46
Q3 2013 1,297.24 10.6 % 322.90 23.5 % 133.32 20.7 % 1.16
Q4 2013 1,357.14 9.7 % 282.50 17.5 % 190.78 40.4 % 1.66
Q1 2014 1,664.57 32.3 % 441.75 30.1 % 191.27 15.8 % 1.67
Q2 2014 2,071.64 32.0 % 574.47 26.8 % 303.74 7.7 % 2.65
Q3 2014 1,548.51 19.4 % 362.94 12.4 % 106.20 (20.3 %) 0.93
Q4 2014 1,613.95 18.9 % 408.02 44.4 % 201.74 5.7 % 1.76
Q1 2015 1,870.41 12.4 % 512.96 16.1 % 210.80 10.2 % 1.84
Q2 2015 2,102.21 1.5 % 618.82 7.7 % 310.67 2.3 % 2.71
Q3 2015 1,454.96 (6.0 %) 394.62 8.7 % 91.17 (14.1 %) 0.79
Q4 2015 1,515.98 (6.1 %) 239.39 (41.3 %) 3.17 (98.4 %) 0.03
Q1 2016 2,189.93 17.1 % 568.80 10.9 % 223.19 5.9 % 1.94
Q2 2016 1,665.26 (20.8 %) 315.61 (49.0 %) 66.82 (78.5 %) 0.58
Q3 2016 1,430.49 (1.7 %) 311.56 (21.0 %) 49.26 (46.0 %) 0.43
Q4 2016 1,405.98 (7.3 %) 321.10 34.1 % 86.09 2620.1 % 0.75
Q1 2017 2,069.94 (5.5 %) 550.46 (3.2 %) 232.41 4.1 % 2.03
Q2 2017 1,503.55 (9.7 %) 300.12 (4.9 %) 6.84 (89.8 %) 0.06
Q3 2017 1,349.77 (5.6 %) 318.71 2.3 % 48.69 (1.2 %) 0.42
Q4 2017 1,193.26 (15.1 %) 45.34 (85.9 %) (184.45) (314.3 %) (1.61)
Q1 2018 1,845.73 (10.8 %) 523.34 (4.9 %) 249.19 7.2 % 2.17
Q2 2018 1,273.97 (15.3 %) 249.91 (16.7 %) 10.03 46.6 % 0.09
Q3 2018 1,233.53 (8.6 %) 276.69 (13.2 %) 26.53 (45.5 %) 0.23
Q4 2018 1,072.57 (10.1 %) 34.57 (23.8 %) (141.00) 23.6 % (1.23)
Q1 2019 1,732.40 (6.1 %) 507.52 (3.0 %) 224.05 (10.1 %) 1.95
Q2 2019 1,234.59 (3.1 %) 183.28 (26.7 %) (27.22) (371.4 %) (0.24)
Q3 2019 1,289.78 4.6 % 258.24 (6.7 %) 34.47 30.0 % 0.30
Q4 2019 1,085.03 1.2 % 46.84 35.5 % (887.56) (529.5 %) (7.73)
Q1 2020 564.95 (67.4 %) (136.73) (126.9 %) (525.43) (334.5 %) (4.58)
Q2 2020 1,185.60 (4.0 %) 143.36 (21.8 %) (98.79) (263.0 %) (0.86)
Q3 2020 1,349.71 4.6 % 281.45 9.0 % (128.56) (472.9 %) (1.12)
Q4 2020 1,132.26 4.4 % (270.38) (677.3 %) (337.87) 61.9 % (2.94)
Q1 2021 1,700.71 201.0 % 332.60 343.3 % 46.88 108.9 % 0.41
Q2 2021 1,361.28 14.8 % 232.34 62.1 % 21.73 122.0 % 0.19
Q3 2021 1,466.39 8.6 % 244.53 (13.1 %) 16.87 113.1 % 0.15
Q4 2021 - - - - - - -
Q1 2022 1,386.73 (18.5 %) 181.32 (45.5 %) (40.79) (187.0 %) (0.36)
Q2 2022 1,705.64 25.3 % 240.07 3.3 % 42.82 97.1 % 0.37

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
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 %)
Q1 2020 8.42 % 13.91 % (21.08 %)
Q2 2020 7.56 % 11.77 % (23.95 %)
Q3 2020 8.00 % 11.49 % (21.57 %)
Q4 2020 0.42 % 4.01 % (18.21 %)
Q1 2021 9.07 % 10.69 % (5.35 %)
Q2 2021 10.39 % 11.76 % (2.91 %)
Q3 2021 9.52 % 10.11 % (2.28 %)
Q4 2021 - - -
Q1 2022 - - -
Q2 2022 - - -


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
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
Q1 2020 114.77 (12.25) (7.67) 9.81
Q2 2020 114.77 (12.87) (8.61) 8.74
Q3 2020 114.77 (14.29) (7.87) 7.63
Q4 2020 114.77 (9.50) (6.72) 4.81
Q1 2021 114.77 (4.52) (2.50) 5.31
Q2 2021 114.77 (3.47) (1.40) 5.52
Q3 2021 114.77 (2.20) (1.13) 5.69
Q4 2021 114.77 - - 2.71
Q1 2022 114.77 - - 2.71
Q2 2022 114.77 - - 5.89

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
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
Q1 2020 NEG NEG 3.27
Q2 2020 NEG NEG 3.96
Q3 2020 NEG NEG 5.56
Q4 2020 NEG NEG 8.30
Q1 2021 NEG NEG 7.76
Q2 2021 NEG NEG 8.33
Q3 2021 NEG NEG 6.69
Q4 2021 - - 10.50
Q1 2022 - - 10.05
Q2 2022 - - 3.53

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
Q1 2020 545.73 0.07 19.14
Q2 2020 1,078.98 0.75 105.88
Q3 2020 1,228.32 2.02 119.36
Q4 2020 1,033.78 2.39 96.09
Q1 2021 1,583.17 9.94 107.10
Q2 2021 1,218.62 12.89 130.27
Q3 2021 1,322.93 12.58 130.87
Q1 2022 1,240.75 16.42 129.56
Q2 2022 1,574.76 15.25 115.64

Analysts Estimates (Million)

Item Q2 2022 (e) Q2 2022 (a) Change‬
Average 34.70 42.82 23.41 %

Estimates vs Actual (Million)

Item Q2 2022 (e) Q2 2022 (a) Change
Al Rajhi Capital 41.00 42.82 4.4 %
Hermes 37.00 42.82 15.7 %
SNB Capital 34.90 42.82 22.7 %
AlJazira Capital 25.90 42.82 65.3 %


Financial Ratios
Current
Market Cap (M Riyal) 932.18
Enterprise Value (EV) (M) 3,081.15
Shares Outstanding ((M)) 114.80
EPS ( Riyal) (TTM) (11.10)
Book Value (BV) ( Riyal) (8.53)
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book (0.95)
Return on Average Assets (%) (TTM) (20.76 )
Return on Average Equity (%) (TTM) -
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Share Price

Fawaz Abdulaziz Alhokair Co.
8.12
0.15 1.88 %

Fawaz Abdulaziz Alhokair Co. (CENOMI RETAIL)

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