Retal’s 2021 net profit soars 96% to SAR 193.7 mln; Q4 at SAR 73.8 mln

Retal Urban Development Co., which will list soon on Saudi Exchange (Tadawul), reported a 96% surge in 2021 net profit to SAR 193.7 million, compared to a net profit of SAR 98.6 million a year earlier.

Financials (M)

Item	2020	2021	Change‬
Revenues	587.45	1,085.32	84.8 %
Gross Income	124.31	245.46	97.5 %
Operating Income	90.42	181.53	100.8 %
Net Income	98.63	193.72	96.4 %
Average Shares	500.00	500.00	-
EPS (Riyals)	0.20	0.39	96.4 %

The profit rise was spurred by revenue, which soared 85% year-on-year (YoY) in 2021. Retal reported one-off profit of SAR 13.9 million on the disposal of an affiliate.

On the other hand, the real estate developer incurred impairment provisions of SAR 4.8 million. It also reported higher finance costs and Zakat charges.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2020	Q4 2021	Change‬
Revenues	266.20	471.97	77.3 %
Gross Income	66.89	100.35	50.0 %
Operating Income	59.92	76.60	27.8 %
Net Income	55.70	73.82	32.5 %
Average Shares	500.00	500.00	-
EPS (Riyals)	0.11	0.15	32.5 %

Item	Q3 2021	Q4 2021	Change‬
Revenues	238.01	471.97	98.3 %
Gross Income	54.13	100.35	85.4 %
Operating Income	36.26	76.60	111.3 %
Net Income	35.21	73.82	109.6 %
Average Shares	500.00	500.00	-
EPS (Riyals)	0.07	0.15	109.6 %

In Q4 2021, Retal’s net profit grew by 32.5% to SAR 73.8 million, from SAR 55.70 million in Q4 2020, thanks to a 77% YoY rise in revenue.

Sequentially, net profit more than doubled from SAR 35.12 million on 98% revenue growth.

Shareholders’ equity, after minority interest, increased to SAR 568.77 million in 2021, compared to SAR 518.97 million a year earlier.

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Share Price

Retal Urban Development Co. (RETAL)

	Current
Market Cap (M USD)	7,790.00
Enterprise Value (EV) (M)	8,302.40
Shares Outstanding ((M))	500.00
EPS ( USD) (TTM)	0.46
Book Value (BV) ( USD)	1.51
Par Value ( USD)	1.00
Adjusted P/E (Last12)	33.74
P/E (TTM)	33.74
Price/book	10.32
Return on Average Assets (%) (TTM)	6.3
Return on Average Equity (%) (TTM)	32.0

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
Q1 2012	-	-	-	-	-	-
Q2 2012	-	-	-	-	-	-
Q3 2012	-	-	-	-	-	-
Q4 2012	-	-	-	-	-	-
2012	-	-	-	-	-	-
Q1 2013	-	-	-	-	-	-
Q2 2013	-	-	-	-	-	-
Q3 2013	-	-	-	-	-	-
Q4 2013	-	-	-	-	-	-
2013	-	-	-	-	-	-
Q1 2014	-	-	-	-	-	-
Q2 2014	-	-	-	-	-	-
Q3 2014	-	-	-	-	-	-
Q4 2014	-	-	-	-	-	-
2014	-	-	-	-	-	-
Q1 2015	-	-	-	-	-	-
Q2 2015	-	-	-	-	-	-
Q3 2015	-	-	-	-	-	-
Q4 2015	-	-	-	-	-	-
2015	-	-	-	-	-	-
Q1 2016	-	-	-	-	-	-
Q2 2016	-	-	-	-	-	-
Q3 2016	-	-	-	-	-	-
Q4 2016	-	-	-	-	-	-
2016	-	-	-	-	-	-
Q1 2017	-	-	-	-	-	-
Q2 2017	-	-	-	-	-	-
Q3 2017	-	-	-	-	-	-
Q4 2017	-	-	-	-	-	-
2017	257.63	-	59.83	-	43.86	-
Q1 2018	-	-	-	-	-	-
Q2 2018	-	-	-	-	-	-
Q3 2018	-	-	-	-	-	-
Q4 2018	-	-	-	-	-	-
2018	209.01	(18.9 %)	30.64	(48.8 %)	5.29	(88.0 %)
Q1 2019	-	-	-	-	-	-
Q2 2019	-	-	-	-	-	-
Q3 2019	-	-	-	-	-	-
Q4 2019	-	-	-	-	-	-
2019	456.54	118.4 %	77.40	152.6 %	47.87	805.8 %
Q1 2020	81.07	-	17.94	-	6.61	-
Q2 2020	106.38	-	16.48	-	9.21	-
Q3 2020	133.81	-	23.00	-	14.67	-
Q4 2020	266.20	-	66.89	-	59.92	-
2020	587.45	28.7 %	124.31	60.6 %	90.42	88.9 %
Q1 2021	216.03	166.5 %	51.04	184.6 %	40.26	508.8 %
Q2 2021	159.31	49.8 %	39.94	142.4 %	28.41	208.3 %
Q3 2021	238.01	77.9 %	54.13	135.3 %	36.26	147.2 %
Q4 2021	471.97	77.3 %	100.35	50.0 %	76.60	27.8 %
2021	1,085.32	84.8 %	245.46	97.5 %	181.53	100.8 %

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2012	-	-	-	-	-	-
2013	-	-	-	-	-	-
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	257.63	-	59.83	-	43.86	-
2018	209.01	(18.9 %)	30.64	(48.8 %)	5.29	(88.0 %)
2019	456.54	118.4 %	77.40	152.6 %	47.87	805.8 %
2020	587.45	28.7 %	124.31	60.6 %	90.42	88.9 %
2021	1,085.32	84.8 %	245.46	97.5 %	181.53	100.8 %

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
Q1 2012	-	-	-	-	-	-
Q2 2012	-	-	-	-	-	-
Q3 2012	-	-	-	-	-	-
Q4 2012	-	-	-	-	-	-
2012	-	-	-	-	-	-
Q1 2013	-	-	-	-	-	-
Q2 2013	-	-	-	-	-	-
Q3 2013	-	-	-	-	-	-
Q4 2013	-	-	-	-	-	-
2013	-	-	-	-	-	-
Q1 2014	-	-	-	-	-	-
Q2 2014	-	-	-	-	-	-
Q3 2014	-	-	-	-	-	-
Q4 2014	-	-	-	-	-	-
2014	-	-	-	-	-	-
Q1 2015	-	-	-	-	-	-
Q2 2015	-	-	-	-	-	-
Q3 2015	-	-	-	-	-	-
Q4 2015	-	-	-	-	-	-
2015	-	-	-	-	-	-
Q1 2016	-	-	-	-	-	-
Q2 2016	-	-	-	-	-	-
Q3 2016	-	-	-	-	-	-
Q4 2016	-	-	-	-	-	-
2016	-	-	-	-	-	-
Q1 2017	-	-	-	-	-	-
Q2 2017	-	-	-	-	-	-
Q3 2017	-	-	-	-	-	-
Q4 2017	-	-	-	-	-	-
2017	27.26	-	0.05	(9.33)	36.59	0.07
Q1 2018	-	-	-	-	-	-
Q2 2018	-	-	-	-	-	-
Q3 2018	-	-	-	-	-	-
Q4 2018	-	-	-	-	-	-
2018	2.74	(90.0 %)	0.01	-	2.74	0.01
Q1 2019	-	-	-	-	-	-
Q2 2019	-	-	-	-	-	-
Q3 2019	-	-	-	-	-	-
Q4 2019	-	-	-	-	-	-
2019	59.69	2079.3 %	0.12	-	59.69	0.12
Q1 2020	2.79	-	0.01	-	2.79	0.01
Q2 2020	24.05	-	0.05	-	24.05	0.05
Q3 2020	16.10	-	0.03	-	16.10	0.03
Q4 2020	55.70	-	0.11	-	55.70	0.11
2020	98.63	65.2 %	0.20	-	98.63	0.20
Q1 2021	39.26	1305.5 %	0.08	-	39.26	0.08
Q2 2021	45.43	88.9 %	0.09	11.65	33.78	0.07
Q3 2021	35.21	118.7 %	0.07	3.31	31.90	0.06
Q4 2021	73.82	32.5 %	0.15	(1.03)	74.85	0.15
2021	193.72	96.4 %	0.39	13.94	179.78	0.36

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2012	-	-	-	-	-	-
2013	-	-	-	-	-	-
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	27.26	-	0.05	(9.33)	36.59	0.07
2018	2.74	(90.0 %)	0.01	-	2.74	0.01
2019	59.69	2079.3 %	0.12	-	59.69	0.12
2020	98.63	65.2 %	0.20	-	98.63	0.20
2021	193.72	96.4 %	0.39	13.94	179.78	0.36

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2012	-	-	-
Q2 2012	-	-	-
Q3 2012	-	-	-
Q4 2012	-	-	-
2012	-	-	-
Q1 2013	-	-	-
Q2 2013	-	-	-
Q3 2013	-	-	-
Q4 2013	-	-	-
2013	-	-	-
Q1 2014	-	-	-
Q2 2014	-	-	-
Q3 2014	-	-	-
Q4 2014	-	-	-
2014	-	-	-
Q1 2015	-	-	-
Q2 2015	-	-	-
Q3 2015	-	-	-
Q4 2015	-	-	-
2015	-	-	-
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	-	-	-
Q4 2016	-	-	-
2016	-	-	-
Q1 2017	-	-	-
Q2 2017	-	-	-
Q3 2017	-	-	-
Q4 2017	-	-	-
2017	23.22 %	18.13 %	14.20 %
Q1 2018	-	-	-
Q2 2018	-	-	-
Q3 2018	-	-	-
Q4 2018	-	-	-
2018	14.66 %	3.36 %	1.31 %
Q1 2019	-	-	-
Q2 2019	-	-	-
Q3 2019	-	-	-
Q4 2019	-	-	-
2019	16.95 %	12.55 %	13.07 %
Q1 2020	-	-	-
Q2 2020	-	-	-
Q3 2020	-	-	-
Q4 2020	21.16 %	17.51 %	16.79 %
2020	21.16 %	17.51 %	16.79 %
Q1 2021	21.79 %	18.94 %	18.70 %
Q2 2021	23.33 %	20.32 %	18.68 %
Q3 2021	24.10 %	20.60 %	18.26 %
Q4 2021	22.62 %	18.05 %	16.57 %
2021	22.62 %	18.05 %	16.57 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2012	-	-	-
2013	-	-	-
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	23.22 %	18.13 %	14.20 %
2018	14.66 %	3.36 %	1.31 %
2019	16.95 %	12.55 %	13.07 %
2020	21.16 %	17.51 %	16.79 %
2021	22.62 %	18.05 %	16.57 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2012	-	-	-
Q2 2012	-	-	-
Q3 2012	-	-	-
Q4 2012	-	-	-
Q1 2013	-	-	-
Q2 2013	-	-	-
Q3 2013	-	-	-
Q4 2013	-	-	-
Q1 2014	-	-	-
Q2 2014	-	-	-
Q3 2014	-	-	-
Q4 2014	-	-	-
Q1 2015	-	-	-
Q2 2015	-	-	-
Q3 2015	-	-	-
Q4 2015	-	-	-
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	-	-	-
Q4 2016	-	-	-
Q1 2017	-	-	-
Q2 2017	-	-	-
Q3 2017	-	-	-
Q4 2017	-	-	-
Q1 2018	-	-	-
Q2 2018	-	-	-
Q3 2018	-	-	-
Q4 2018	-	-	-
Q1 2019	-	-	-
Q2 2019	-	-	-
Q3 2019	-	-	-
Q4 2019	-	-	-
Q1 2020	22.13 %	11.49 %	3.45 %
Q2 2020	15.49 %	11.11 %	22.61 %
Q3 2020	17.19 %	11.99 %	12.03 %
Q4 2020	25.13 %	24.67 %	20.92 %
Q1 2021	23.63 %	20.05 %	18.17 %
Q2 2021	25.07 %	20.40 %	21.20 %
Q3 2021	22.74 %	16.67 %	13.40 %
Q4 2021	21.26 %	17.03 %	15.86 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2012	-	-	-	-
Q2 2012	-	-	-	-
Q3 2012	-	-	-	-
Q4 2012	-	-	-	-
Q1 2013	-	-	-	-
Q2 2013	-	-	-	-
Q3 2013	-	-	-	-
Q4 2013	-	-	-	-
Q1 2014	-	-	-	-
Q2 2014	-	-	-	-
Q3 2014	-	-	-	-
Q4 2014	-	-	-	-
Q1 2015	-	-	-	-
Q2 2015	-	-	-	-
Q3 2015	-	-	-	-
Q4 2015	-	-	-	-
Q1 2016	-	-	-	-
Q2 2016	-	-	-	-
Q3 2016	-	-	-	-
Q4 2016	-	-	-	-
Q1 2017	-	-	-	-
Q2 2017	-	-	-	-
Q3 2017	-	-	-	-
Q4 2017	-	-	-	-
Q1 2018	-	-	-	-
Q2 2018	-	-	-	-
Q3 2018	-	-	-	-
Q4 2018	-	-	-	-
Q1 2019	-	-	-	-
Q2 2019	-	-	-	-
Q3 2019	-	-	-	-
Q4 2019	-	-	-	-
Q1 2020	500.00	-	-	-
Q2 2020	500.00	-	-	-
Q3 2020	500.00	-	-	-
Q4 2020	500.00	0.20	0.20	1.04
Q1 2021	500.00	0.27	0.27	1.13
Q2 2021	500.00	0.31	0.29	1.06
Q3 2021	500.00	0.35	0.32	1.13
Q4 2021	500.00	0.39	0.36	1.14

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2012	-	-	-	-
2013	-	-	-	-
2014	-	-	-	-
2015	-	-	-	-
2016	-	-	-	-
2017	500.00	0.05	0.07	0.27
2018	500.00	0.01	0.01	0.26
2019	500.00	0.12	0.12	0.69
2020	500.00	0.20	0.20	1.04
2021	500.00	0.39	0.36	1.14

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2012	-	-	-
Q2 2012	-	-	-
Q3 2012	-	-	-
Q4 2012	-	-	-
Q1 2013	-	-	-
Q2 2013	-	-	-
Q3 2013	-	-	-
Q4 2013	-	-	-
Q1 2014	-	-	-
Q2 2014	-	-	-
Q3 2014	-	-	-
Q4 2014	-	-	-
Q1 2015	-	-	-
Q2 2015	-	-	-
Q3 2015	-	-	-
Q4 2015	-	-	-
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	-	-	-
Q4 2016	-	-	-
Q1 2017	-	-	-
Q2 2017	-	-	-
Q3 2017	-	-	-
Q4 2017	-	-	-
Q1 2018	-	-	-
Q2 2018	-	-	-
Q3 2018	-	-	-
Q4 2018	-	-	-
Q1 2019	-	-	-
Q2 2019	-	-	-
Q3 2019	-	-	-
Q4 2019	-	-	-
Q1 2020	-	-	-
Q2 2020	-	-	-
Q3 2020	-	-	-
Q4 2020	-	-	-
Q1 2021	-	-	-
Q2 2021	-	-	-
Q3 2021	-	-	-
Q4 2021	-	-	-

Period	P/E	Adjusted P/E	Price/book
2012	-	-	-
2013	-	-	-
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	-	-	-
2020	-	-	-
2021	-	-	-

Business Segments (Million)

Compared With The

Period	Development	Other	Eliminations
Q1 2021	324.82	7.30	(116.09)
Q2 2021	36.43	7.34	115.55
Q3 2021	229.38	10.19	(1.56)
Q4 2021	469.56	0.31	2.11

Period	Development	Other	Eliminations
2021	1,060.19	25.13	-

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Retal’s 2021 net profit soars 96% to SAR 193.7 mln; Q4 at SAR 73.8 mln

Financials (M)

Current Quarter Comparison (M)

View other reports

Share Price

Retal Urban Development Co. (RETAL)

Financial Ratios

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Business Segments (Million)

Revenue by Business Segment (Latest) 2021 Q4

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Retal’s 2021 net profit soars 96% to SAR 193.7 mln; Q4 at SAR 73.8 mln

Financials (M)

Current Quarter Comparison (M)

View other reports

Share Price

Retal Urban Development Co. (RETAL)

Financial Ratios

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Business Segments (Million) Q4 2021

Revenue by Business Segment (Latest) 2021 Q4

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