Al Hammadi posts 22% profit decline in Q1 2019

Al Hammadi posts 22% profit decline in Q1 2019

28/04/2019 Argaam Exclusive

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Al Hammadi Company for Development and Investment reported a net profit after zakat and tax of SAR 24.17 million for the first quarter of 2019, down 21.7 percent year-on-year (YoT), due to higher operating expenses related to Nozha hospital, and increased financing costs.

When compared to the previous quarter, net profit increased by 36.55 percent, on higher revenue



Current Quarter Comparison (M)

Compared With The
Item Q1 2018 Q1 2019 Change‬
Revenues 200.67 229.68 14.5 %
Gross Income 66.84 65.60 (1.9 %)
Operating Income 38.29 27.20 (29.0 %)
Net Income 30.88 24.17 (21.7 %)
Average Shares 160.00 160.00 -
EPS (Riyals) 0.19 0.15 (21.7 %)


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2010 - - - - - -
Q2 2010 - - - - - -
Q3 2010 - - - - - -
Q4 2010 - - - - - -
Q1 2011 - - - - - -
Q2 2011 - - - - - -
Q3 2011 - - - - - -
Q4 2011 - - - - - -
Q1 2012 - - - - - -
Q2 2012 - - - - - -
Q3 2012 - - - - - -
Q4 2012 - - - - - -
Q1 2013 104.84 - 47.34 - 30.09 -
Q2 2013 108.85 - 45.84 - 22.74 -
Q3 2013 96.26 - 36.81 - 19.02 -
Q4 2013 124.13 - 55.17 - 34.34 -
Q1 2014 122.04 16.4 % 54.71 15.6 % 35.96 19.5 %
Q2 2014 121.66 11.8 % 53.68 17.1 % 35.77 57.3 %
Q3 2014 108.83 13.1 % 44.74 21.5 % 24.77 30.3 %
Q4 2014 129.43 4.3 % 55.99 1.5 % 34.52 0.5 %
Q1 2015 129.48 6.1 % 50.64 (7.4 %) 33.35 (7.3 %)
Q2 2015 137.36 12.9 % 63.56 18.4 % 37.91 6.0 %
Q3 2015 136.80 25.7 % 57.97 29.6 % 31.92 28.8 %
Q4 2015 157.70 21.8 % 68.06 21.6 % 40.39 17.0 %
Q1 2016 144.16 11.3 % 54.75 8.1 % 26.66 (20.0 %)
Q2 2016 138.08 0.5 % 57.56 (9.5 %) 27.63 (27.1 %)
Q3 2016 141.35 3.3 % 56.48 (2.6 %) 25.97 (18.6 %)
Q4 2016 182.65 15.8 % 73.35 7.8 % 18.58 (54.0 %)
Q1 2017 180.23 25.0 % 62.02 13.3 % 33.61 26.0 %
Q2 2017 176.71 28.0 % 58.16 1.0 % 32.88 19.0 %
Q3 2017 163.01 15.3 % 53.91 (4.5 %) 26.46 1.9 %
Q4 2017 188.69 3.3 % 65.08 (11.3 %) 33.93 82.6 %
Q1 2018 200.67 11.3 % 66.84 7.8 % 38.29 13.9 %
Q2 2018 214.49 21.4 % 53.28 (8.4 %) 28.26 (14.0 %)
Q3 2018 250.40 53.6 % 64.92 20.4 % 31.19 17.9 %
Q4 2018 228.04 20.9 % 65.32 0.4 % 29.53 (13.0 %)
Q1 2019 229.68 14.5 % 65.60 (1.9 %) 27.20 (29.0 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2010 - - - - - -
Q2 2010 - - - - - -
Q3 2010 - - - - - -
Q4 2010 - - - - - -
Q1 2011 - - - - - -
Q2 2011 - - - - - -
Q3 2011 - - - - - -
Q4 2011 - - - - - -
Q1 2012 - - - - - -
Q2 2012 - - - - - -
Q3 2012 - - - - - -
Q4 2012 - - - - - -
Q1 2013 29.83 - 0.19 - 29.83 0.19
Q2 2013 30.06 - 0.19 - 24.06 0.15
Q3 2013 18.32 - 0.11 - 18.32 0.11
Q4 2013 33.29 - 0.21 - 33.29 0.21
Q1 2014 34.23 14.7 % 0.21 - 34.23 0.21
Q2 2014 35.60 18.4 % 0.22 - 35.60 0.22
Q3 2014 25.42 38.7 % 0.16 - 25.42 0.16
Q4 2014 33.71 1.2 % 0.21 - 33.71 0.21
Q1 2015 41.01 19.8 % 0.26 9.80 31.21 0.20
Q2 2015 36.89 3.6 % 0.23 - 36.89 0.23
Q3 2015 27.69 8.9 % 0.17 - 27.69 0.17
Q4 2015 35.75 6.0 % 0.22 - 35.75 0.22
Q1 2016 21.14 (48.5 %) 0.13 - 21.14 0.13
Q2 2016 20.63 (44.1 %) 0.13 - 20.63 0.13
Q3 2016 20.73 (25.1 %) 0.13 - 20.73 0.13
Q4 2016 10.48 (70.7 %) 0.07 - 10.48 0.07
Q1 2017 27.97 32.3 % 0.17 - 27.97 0.17
Q2 2017 25.66 24.4 % 0.16 - 25.66 0.16
Q3 2017 23.59 13.8 % 0.15 - 23.59 0.15
Q4 2017 30.76 193.4 % 0.19 - 30.76 0.19
Q1 2018 30.88 10.4 % 0.19 - 30.88 0.19
Q2 2018 19.93 (22.3 %) 0.12 - 19.93 0.12
Q3 2018 21.31 (9.7 %) 0.13 - 21.31 0.13
Q4 2018 17.70 (42.5 %) 0.11 - 17.70 0.11
Q1 2019 24.17 (21.7 %) 0.15 - 24.17 0.15

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2010 - - -
Q2 2010 - - -
Q3 2010 - - -
Q4 2010 - - -
Q1 2011 - - -
Q2 2011 - - -
Q3 2011 - - -
Q4 2011 - - -
Q1 2012 - - -
Q2 2012 - - -
Q3 2012 - - -
Q4 2012 - - -
Q1 2013 - - -
Q2 2013 - - -
Q3 2013 - - -
Q4 2013 42.66 % 27.60 % 24.31 %
Q1 2014 42.66 % 27.85 % 24.35 %
Q2 2014 43.18 % 29.90 % 26.17 %
Q3 2014 43.70 % 30.34 % 26.97 %
Q4 2014 43.39 % 30.09 % 26.75 %
Q1 2015 41.90 % 29.13 % 25.73 %
Q2 2015 42.55 % 28.68 % 25.19 %
Q3 2015 42.80 % 29.71 % 24.29 %
Q4 2015 42.80 % 31.06 % 23.43 %
Q1 2016 42.42 % 30.79 % 21.09 %
Q2 2016 41.32 % 30.64 % 18.24 %
Q3 2016 40.74 % 29.96 % 16.90 %
Q4 2016 39.94 % 25.11 % 12.04 %
Q1 2017 38.83 % 24.74 % 12.43 %
Q2 2017 36.71 % 24.09 % 12.46 %
Q3 2017 35.22 % 23.41 % 12.48 %
Q4 2017 33.75 % 25.39 % 15.24 %
Q1 2018 33.46 % 26.03 % 15.21 %
Q2 2018 31.18 % 25.45 % 13.71 %
Q3 2018 29.28 % 24.60 % 12.04 %
Q4 2018 28.02 % 24.14 % 10.05 %
Q1 2019 27.00 % 22.96 % 9.01 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2010 - - - -
Q2 2010 - - - -
Q3 2010 - - - -
Q4 2010 - - - -
Q1 2011 - - - -
Q2 2011 - - - -
Q3 2011 - - - -
Q4 2011 - - - -
Q1 2012 - - - -
Q2 2012 - - - -
Q3 2012 - - - -
Q4 2012 - - - -
Q1 2013 160.00 - - 3.74
Q2 2013 160.00 - - 3.67
Q3 2013 160.00 - - 3.78
Q4 2013 160.00 0.70 0.66 3.66
Q1 2014 160.00 0.72 0.69 3.87
Q2 2014 160.00 0.76 0.76 7.88
Q3 2014 160.00 0.80 0.80 8.04
Q4 2014 160.00 0.81 0.81 8.25
Q1 2015 160.00 0.85 0.79 8.51
Q2 2015 160.00 0.86 0.80 8.27
Q3 2015 160.00 0.87 0.81 8.44
Q4 2015 160.00 0.88 0.82 8.66
Q1 2016 160.00 0.76 0.76 8.80
Q2 2016 160.00 0.66 0.66 8.37
Q3 2016 160.00 0.61 0.61 8.50
Q4 2016 160.00 0.46 0.46 8.56
Q1 2017 160.00 0.50 0.50 8.75
Q2 2017 160.00 0.53 0.53 8.89
Q3 2017 160.00 0.55 0.55 9.04
Q4 2017 160.00 0.67 0.67 8.67
Q1 2018 160.00 0.69 0.69 8.85
Q2 2018 160.00 0.66 0.66 8.98
Q3 2018 160.00 0.64 0.64 9.11
Q4 2018 160.00 0.56 0.56 9.24
Q1 2019 160.00 0.52 0.52 9.40

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2010 - - -
Q2 2010 - - -
Q3 2010 - - -
Q4 2010 - - -
Q1 2011 - - -
Q2 2011 - - -
Q3 2011 - - -
Q4 2011 - - -
Q1 2012 - - -
Q2 2012 - - -
Q3 2012 - - -
Q4 2012 - - -
Q1 2013 - - -
Q2 2013 - - -
Q3 2013 - - -
Q4 2013 - - -
Q1 2014 - - -
Q2 2014 - - -
Q3 2014 51.42 51.42 5.14
Q4 2014 48.92 48.92 4.78
Q1 2015 51.53 55.54 5.14
Q2 2015 54.13 58.30 5.61
Q3 2015 44.33 47.69 4.57
Q4 2015 41.63 44.73 4.24
Q1 2016 36.41 36.41 3.14
Q2 2016 45.86 45.86 3.60
Q3 2016 36.32 36.32 2.62
Q4 2016 68.31 68.31 3.64
Q1 2017 61.37 61.37 3.50
Q2 2017 58.51 58.51 3.49
Q3 2017 47.94 47.94 2.91
Q4 2017 41.25 41.25 3.21
Q1 2018 39.28 39.28 3.07
Q2 2018 37.68 37.68 2.76
Q3 2018 32.21 32.21 2.27
Q4 2018 33.55 33.55 2.04
Q1 2019 35.91 35.91 1.98

Business Segments (Million)

Compared With The
Period healthy services and other Pharmaceutical sales revenue - Pharmacies
Q1 2017 150.74 29.49
Q2 2017 147.45 29.26
Q3 2017 136.70 26.31
Q4 2017 155.95 32.73
Q1 2018 140.85 59.82
Q2 2018 143.64 71.39
Q3 2018 140.83 109.03
Q4 2018 154.81 73.23
Q1 2019 146.91 82.77

Analysts Estimates (Million)

Item Q1 2019 (e) Q1 2019 (a) Change‬
Average 23.80 24.17 1.56 %

Estimates vs Actual (Million)

Item Q1 2019 (e) Q1 2019 (a) Change
Sico 23.00 24.17 5.1 %
AlJazira Capital 21.20 24.17 14.0 %
Al Rajhi Capital 20.00 24.17 20.9 %
SNB Capital 31.00 24.17 (22.0) %


Financial Ratios
Current
Market Cap (M Riyal) 6,144.00
Enterprise Value (EV) (M) 5,905.92
Shares Outstanding ((M)) 160.00
EPS ( Riyal) (TTM) 2.04
Book Value (BV) ( Riyal) 12.11
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 23.23
P/E (TTM) 18.83
Price/book 3.17
Return on Average Assets (%) (TTM) 12.5
Return on Average Equity (%) (TTM) 17.3
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Share Price

Al Hammadi Holding
38.40
(0.60) (1.54 %)

Al Hammadi Holding (ALHAMMADI)

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