Fitaihi net profit dives 94% to SAR 7.7 mln in Q1 2022

Fitaihi net profit dives 94% to SAR 7.7 mln in Q1 2022

19/05/2022 Argaam Exclusive

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Fitaihi Holding Group reported a plunge of 94% in Q1 2022 net profit after Zakat and tax to SAR 7.7 million from SAR 130 million in the year-ago period.



Current Quarter Comparison (M)

Compared With The
Item Q1 2021 Q1 2022 Change‬
Revenues 13.71 23.29 69.9 %
Gross Income 6.09 4.98 (18.2 %)
Operating Income (1.71) (1.39) 18.9 %
Net Income 130.11 7.65 (94.1 %)
Average Shares 275.00 275.00 -
EPS (Riyals) 0.47 0.03 (94.1 %)

The profit slump came as the company recorded exceptional capital gains of SAR 125.7 million from selling its entire stake in an associate.

 

Sequentially, the jewelry retailer turned a profit from a net loss of SAR 4.4 million in Q4 2021.

 

Fitaihi recorded a decline of SAR 17.9 million in inventory impairment during the fourth quarter of 2021. It also reported a 59.9% quarter-on-quarter rise in its profit share from an associate.

 

The company reported a decrease in total selling and administrative expenses in the first quarter of 2022, by 6.71 year-on-year (YoY). It received dividends of SAR 0.9 million and recorded lower Zakat charges in Q1 2022.

 

Shareholders’ equity, after minority interest, fell to SAR 496.080 million as of March 31, 2022, from SAR 753.062 million a year earlier.

View More Financial Results

 


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2013 66.80 (1.9 %) 32.75 (6.4 %) 10.15 (32.7 %)
Q2 2013 64.40 4.4 % 35.32 8.2 % 11.64 12.5 %
Q3 2013 63.50 9.6 % 33.59 13.9 % 7.84 3.0 %
Q4 2013 54.70 (17.5 %) 21.82 (18.1 %) 0.12 (98.3 %)
Q1 2014 74.78 11.9 % 36.69 12.1 % 10.38 2.2 %
Q2 2014 74.71 16.0 % 36.54 3.5 % 8.63 (25.9 %)
Q3 2014 77.36 21.8 % 37.59 11.9 % 6.16 (21.4 %)
Q4 2014 71.61 30.9 % 32.08 47.0 % 3.28 2629.2 %
Q1 2015 68.94 (7.8 %) 33.65 (8.3 %) 7.00 (32.5 %)
Q2 2015 72.01 (3.6 %) 35.82 (2.0 %) 8.17 (5.4 %)
Q3 2015 56.72 (26.7 %) 27.80 (26.0 %) (4.47) (172.6 %)
Q4 2015 65.89 (8.0 %) 30.15 (6.0 %) (0.01) (100.3 %)
Q1 2016 48.34 (29.9 %) 24.29 (27.8 %) (2.08) (129.7 %)
Q2 2016 61.36 (14.8 %) 28.73 (19.8 %) 1.07 (86.9 %)
Q3 2016 37.24 (34.3 %) 18.57 (33.2 %) (5.12) (14.4 %)
Q4 2016 48.42 (26.5 %) 18.63 (38.2 %) (16.69) (166,810.0 %)
Q1 2017 51.08 5.7 % 21.23 (12.6 %) (0.01) 99.3 %
Q2 2017 50.50 (17.7 %) 22.66 (21.1 %) 0.26 (75.8 %)
Q3 2017 19.30 (48.2 %) 9.51 (48.8 %) (9.56) (86.8 %)
Q4 2017 33.97 (29.9 %) 15.42 (17.2 %) (23.08) (38.3 %)
Q1 2018 28.78 (43.7 %) 12.51 (41.1 %) (3.04) (21,642.9 %)
Q2 2018 36.80 (27.1 %) 17.20 (24.1 %) (0.84) (423.8 %)
Q3 2018 19.97 3.5 % 9.86 3.6 % (4.45) 53.4 %
Q4 2018 29.47 (13.2 %) 13.43 (12.9 %) (12.67) 45.1 %
Q1 2019 21.14 (26.6 %) 7.79 (37.7 %) (1.12) 63.1 %
Q2 2019 17.97 (51.2 %) 7.85 (54.3 %) (1.87) (122.6 %)
Q3 2019 11.57 (42.1 %) 5.71 (42.1 %) (2.97) 33.3 %
Q4 2019 20.55 (30.3 %) 8.04 (40.1 %) (0.43) 96.6 %
Q1 2020 18.02 (14.7 %) 8.50 9.2 % (3.24) (187.8 %)
Q2 2020 9.38 (47.8 %) 0.86 (89.1 %) (5.71) (204.7 %)
Q3 2020 9.92 (14.3 %) 4.84 (15.1 %) (1.54) 48.0 %
Q4 2020 15.93 (22.5 %) 7.04 (12.5 %) (1.61) (275.5 %)
Q1 2021 13.71 (24.0 %) 6.09 (28.4 %) (1.71) 47.2 %
Q2 2021 13.95 48.6 % 6.11 614.3 % (1.71) 70.1 %
Q3 2021 9.45 (4.7 %) 4.02 (16.9 %) (3.50) (126.8 %)
Q4 2021 15.57 (2.3 %) (11.25) (259.9 %) (17.85) (1,010.8 %)
Q1 2022 23.29 69.9 % 4.98 (18.2 %) (1.39) 18.9 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2013 19.32 8.9 % 0.07 - 19.32 0.07
Q2 2013 11.86 1.5 % 0.04 - 11.86 0.04
Q3 2013 5.21 (19.1 %) 0.02 - 5.21 0.02
Q4 2013 (0.67) 62.4 % 0.00 5.64 (6.31) (0.02)
Q1 2014 24.13 24.9 % 0.09 0.17 23.96 0.09
Q2 2014 24.45 106.2 % 0.09 13.54 10.92 0.04
Q3 2014 12.83 146.4 % 0.05 2.53 10.30 0.04
Q4 2014 8.73 1411.3 % 0.03 - 8.73 0.03
Q1 2015 16.79 (30.4 %) 0.06 - 16.79 0.06
Q2 2015 21.54 (11.9 %) 0.08 - 21.54 0.08
Q3 2015 9.72 (24.3 %) 0.04 - 9.72 0.04
Q4 2015 (7.49) (185.7 %) (0.03) (11.59) 4.10 0.01
Q1 2016 (30.20) (279.8 %) (0.11) (32.32) 2.12 0.01
Q2 2016 26.31 22.1 % 0.10 (18.26) 44.56 0.16
Q3 2016 3.14 (67.7 %) 0.01 (2.28) 5.43 0.02
Q4 2016 (17.85) (138.4 %) (0.06) - (17.85) (0.06)
Q1 2017 11.94 139.5 % 0.04 3.50 8.44 0.03
Q2 2017 13.11 (50.2 %) 0.05 0.68 12.43 0.05
Q3 2017 (4.62) (246.9 %) (0.02) 0.32 (4.94) (0.02)
Q4 2017 (19.73) (10.5 %) (0.07) 0.03 (19.76) (0.07)
Q1 2018 1.50 (87.5 %) 0.01 - 1.50 0.01
Q2 2018 13.63 3.9 % 0.05 - 13.63 0.05
Q3 2018 (0.15) 96.7 % 0.00 - (0.15) 0.00
Q4 2018 (7.20) 63.5 % (0.03) - (7.20) (0.03)
Q1 2019 5.56 271.5 % 0.02 - 5.56 0.02
Q2 2019 7.45 (45.3 %) 0.03 - 7.45 0.03
Q3 2019 2.18 1515.6 % 0.01 - 2.18 0.01
Q4 2019 (24.73) (243.5 %) (0.09) (24.84) 0.11 0.00
Q1 2020 (2.42) (143.5 %) (0.01) (0.69) (1.72) (0.01)
Q2 2020 (16.87) (326.3 %) (0.06) (5.32) (11.55) (0.04)
Q3 2020 38.06 1645.9 % 0.14 31.20 6.87 0.02
Q4 2020 11.22 145.4 % 0.04 9.50 1.73 0.01
Q1 2021 130.11 5487.4 % 0.47 125.70 4.40 0.02
Q2 2021 17.01 200.8 % 0.06 - 17.01 0.06
Q3 2021 6.92 (81.8 %) 0.03 3.79 3.14 0.01
Q4 2021 (4.40) (139.2 %) (0.02) 10.00 (14.40) (0.05)
Q1 2022 7.65 (94.1 %) 0.03 - 7.65 0.03

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2013 48.08 % 18.62 % 16.57 %
Q2 2013 48.63 % 18.83 % 16.46 %
Q3 2013 49.16 % 18.46 % 15.64 %
Q4 2013 49.51 % 16.17 % 12.06 %
Q1 2014 49.51 % 15.89 % 13.49 %
Q2 2014 48.06 % 14.32 % 12.62 %
Q3 2014 47.12 % 13.07 % 13.81 %
Q4 2014 47.88 % 14.12 % 18.06 %
Q1 2015 47.80 % 13.64 % 15.97 %
Q2 2015 47.99 % 13.73 % 19.78 %
Q3 2015 48.03 % 10.77 % 21.09 %
Q4 2015 48.34 % 9.88 % 19.79 %
Q1 2016 48.59 % 6.73 % 15.43 %
Q2 2016 47.77 % 4.01 % 26.04 %
Q3 2016 47.80 % 4.48 % 26.41 %
Q4 2016 46.18 % (1.77 %) 17.54 %
Q1 2017 44.00 % (0.59 %) 20.48 %
Q2 2017 43.31 % (0.96 %) 4.51 %
Q3 2017 42.55 % (3.80 %) (1.13 %)
Q4 2017 44.44 % (5.68 %) (2.47 %)
Q1 2018 45.34 % (10.05 %) (8.13 %)
Q2 2018 45.98 % (11.61 %) (8.06 %)
Q3 2018 46.01 % (8.52 %) (4.01 %)
Q4 2018 46.08 % (2.88 %) 6.76 %
Q1 2019 44.96 % (0.17 %) 11.02 %
Q2 2019 43.96 % (2.18 %) 6.39 %
Q3 2019 43.39 % 1.53 % 9.97 %
Q4 2019 41.26 % 11.05 % 21.48 %
Q1 2020 44.20 % 7.19 % 11.77 %
Q2 2020 38.82 % 0.52 % (18.46 %)
Q3 2020 38.43 % (1.33 %) (10.88 %)
Q4 2020 39.88 % 9.90 % (8.78 %)
Q1 2021 38.46 % 11.06 % 2.96 %
Q2 2021 45.00 % 14.48 % 56.07 %
Q3 2021 43.85 % 10.82 % 49.54 %
Q4 2021 9.43 % (37.21 %) 19.27 %
Q1 2022 6.20 % (32.20 %) 21.52 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2013 275.00 0.13 0.15 2.30
Q2 2013 275.00 0.13 0.15 2.33
Q3 2013 275.00 0.13 0.15 2.47
Q4 2013 275.00 0.13 0.11 2.55
Q1 2014 275.00 0.15 0.13 2.56
Q2 2014 275.00 0.19 0.12 2.64
Q3 2014 275.00 0.22 0.14 2.70
Q4 2014 275.00 0.26 0.20 2.74
Q1 2015 275.00 0.23 0.17 2.69
Q2 2015 275.00 0.22 0.21 2.79
Q3 2015 275.00 0.21 0.21 2.78
Q4 2015 275.00 0.15 0.19 2.70
Q1 2016 275.00 (0.02) 0.14 2.38
Q2 2016 275.00 (0.01) 0.22 2.46
Q3 2016 275.00 (0.03) 0.20 2.54
Q4 2016 275.00 (0.07) 0.12 2.48
Q1 2017 275.00 0.09 0.15 2.61
Q2 2017 275.00 0.04 0.03 2.64
Q3 2017 275.00 0.01 (0.01) 2.64
Q4 2017 275.00 0.00 (0.01) 2.49
Q1 2018 275.00 (0.04) (0.04) 2.49
Q2 2018 275.00 (0.03) (0.03) 2.38
Q3 2018 275.00 (0.02) (0.02) 2.34
Q4 2018 275.00 0.03 0.03 2.30
Q1 2019 275.00 0.04 0.04 2.35
Q2 2019 275.00 0.02 0.02 2.31
Q3 2019 275.00 0.03 0.03 2.28
Q4 2019 275.00 (0.03) 0.06 2.21
Q1 2020 275.00 (0.06) 0.03 2.13
Q2 2020 275.00 (0.15) (0.04) 2.07
Q3 2020 275.00 (0.02) (0.02) 2.24
Q4 2020 275.00 0.11 (0.02) 2.28
Q1 2021 275.00 0.59 0.01 2.74
Q2 2021 275.00 0.71 0.11 2.86
Q3 2021 275.00 0.60 0.10 1.91
Q4 2021 275.00 0.54 0.04 1.85
Q1 2022 275.00 0.10 0.05 1.80

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2013 20.35 17.33 1.15
Q2 2013 19.79 16.87 1.11
Q3 2013 20.97 17.78 1.07
Q4 2013 21.90 26.00 1.12
Q1 2014 21.84 25.49 1.26
Q2 2014 19.69 30.97 1.44
Q3 2014 19.40 30.32 1.59
Q4 2014 13.87 18.04 1.29
Q1 2015 18.14 24.38 1.54
Q2 2015 19.35 20.21 1.51
Q3 2015 15.01 15.01 1.11
Q4 2015 17.35 13.50 0.95
Q1 2016 NEG 17.84 1.02
Q2 2016 NEG 12.36 1.11
Q3 2016 NEG 8.95 0.72
Q4 2016 NEG 17.98 0.90
Q1 2017 25.15 14.59 0.82
Q2 2017 56.47 69.10 0.80
Q3 2017 More than 100 NEG 0.86
Q4 2017 More than 100 NEG 0.86
Q1 2018 NEG NEG 0.81
Q2 2018 NEG NEG 0.88
Q3 2018 NEG NEG 0.85
Q4 2018 65.32 65.32 0.80
Q1 2019 44.32 44.32 0.81
Q2 2019 92.87 92.87 0.83
Q3 2019 65.75 65.75 0.84
Q4 2019 NEG 35.21 0.89
Q1 2020 NEG 53.92 0.74
Q2 2020 NEG NEG 0.85
Q3 2020 NEG NEG 1.51
Q4 2020 27.75 NEG 1.33
Q1 2021 9.02 More than 100 1.95
Q2 2021 8.52 55.80 2.13
Q3 2021 8.95 56.31 2.81
Q4 2021 7.49 More than 100 2.21
Q1 2022 40.72 82.61 2.23

Business Segments (Million)

Compared With The
Period Business Activities Investment activity


Financial Ratios
Current
Market Cap (M Riyal) 1,124.75
Enterprise Value (EV) (M) 1,118.77
Shares Outstanding ((M)) 275.00
EPS ( Riyal) (TTM) 0.04
Book Value (BV) ( Riyal) 1.71
Par Value ( Riyal) 1.00
Adjusted P/E (Last12) More than 100
P/E (TTM) More than 100
Price/book 2.39
Return on Average Assets (%) (TTM) 2.5
Return on Average Equity (%) (TTM) 2.6
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Share Price

Fitaihi Holding Group
4.09
0.02 0.49 %

Fitaihi Holding Group (FITAIHI GROUP)

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