Al Hammadi net profit jumps 45% to SAR 64.1 mln in H1 2020

Al Hammadi net profit jumps 45% to SAR 64.1 mln in H1 2020

24/08/2020 Argaam Exclusive

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Al Hammadi Company for Development and Investment reported a net profit after Zakat and tax of SAR 64.1 million for H1 2020, a 45% increase compared to SAR 44.2 million a year earlier.



Financials (M)

Item 6m 2019 6m 2020 Change‬
Revenues 483.51 450.99 (6.7 %)
Gross Income 136.69 157.29 15.1 %
Operating Income 58.14 86.99 49.6 %
Net Income 44.18 64.05 45.0 %
Average Shares 160.00 160.00 -
EPS (Riyals) 0.28 0.40 45.0 %

The higher net profit was backed by improved performance of Hospital Al-Nuzha branch, higher inpatient revenues, due to the increased referrals from the Ministry of Health, and a decline in some expenses and staff costs.

 

Moreover, a decrease in finance costs due to lower loan balances and lower lending cost also boosted the first-half figures.



Current Quarter Comparison (M)

Compared With The
Item Q2 2019 Q2 2020 Change‬
Revenues 253.83 244.30 (3.8 %)
Gross Income 71.08 90.81 27.7 %
Operating Income 30.95 53.15 71.8 %
Net Income 20.01 39.10 95.4 %
Average Shares 160.00 160.00 -
EPS (Riyals) 0.13 0.24 95.4 %

The second-quarter net profit surged 95% year-on-year to SAR 39.1 million, driven by improved performance of Hospital Al-Nuzha branch, higher inpatient revenues, and a decrease in finance costs.

 

When compared to the previous quarter, net profit climbed 57% on higher inpatient revenues and a decline in some expenses and staff costs.



Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
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 %)
Q2 2019 253.83 18.3 % 71.08 33.4 % 30.95 9.5 %
Q3 2019 220.00 (12.1 %) 62.22 (4.2 %) 31.85 2.1 %
Q4 2019 270.55 18.6 % 83.72 28.2 % 39.60 34.1 %
Q1 2020 206.69 (10.0 %) 66.48 1.3 % 33.84 24.4 %
Q2 2020 244.30 (3.8 %) 90.81 27.7 % 53.15 71.8 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
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
Q2 2019 20.01 0.4 % 0.13 - 20.01 0.13
Q3 2019 21.17 (0.6 %) 0.13 - 21.17 0.13
Q4 2019 27.65 56.2 % 0.17 - 27.65 0.17
Q1 2020 24.94 3.2 % 0.16 - 24.94 0.16
Q2 2020 39.10 95.4 % 0.24 (4.99) 44.10 0.28

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
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 %
Q2 2019 27.75 % 22.56 % 8.65 %
Q3 2019 28.36 % 23.59 % 8.92 %
Q4 2019 29.01 % 23.82 % 9.55 %
Q1 2020 29.81 % 25.12 % 9.86 %
Q2 2020 32.21 % 27.70 % 12.52 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
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
Q2 2019 160.00 0.52 0.52 9.51
Q3 2019 160.00 0.52 0.52 9.63
Q4 2019 160.00 0.58 0.58 9.79
Q1 2020 160.00 0.59 0.59 9.95
Q2 2020 160.00 0.71 0.74 10.21

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
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
Q2 2019 30.97 30.97 1.69
Q3 2019 32.09 32.09 1.73
Q4 2019 27.16 27.16 1.61
Q1 2020 24.17 24.17 1.42
Q2 2020 23.40 22.41 1.62

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
Q2 2019 151.05 102.78
Q3 2019 149.00 71.00
Q4 2019 177.92 92.62
Q1 2020 152.48 54.21
Q2 2020 192.83 51.46

Analysts Estimates (Million)

Item Q2 2020 (e) Q2 2020 (a) Change‬
Average 21.98 39.10 77.94 %

Estimates vs Actual (Million)

Item Q2 2020 (e) Q2 2020 (a) Change
OSOOL AND BAKHEET 39.10 39.10 0.0 %
AlJazira Capital 16.40 39.10 138.4 %
SNB Capital 16.40 39.10 138.4 %
Al Rajhi Capital 16.00 39.10 144.4 %

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

Share Price

38.40
(0.60) (1.54 %)

Al Hammadi Holding (ALHAMMADI)


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