Qassim Agriculture posts net loss at SAR 7.3m in Q1 of 2014

Qassim Agriculture posts net loss at SAR 7.3m in Q1 of 2014

31/03/2014 Argaam Exclusive

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Al Qassim Agriculture Company, reported SAR 7.3m net loss at the end of the first quarter of 2014, compared to SAR 3.2m in the same quarter last year, as shown in the following table:



Current Quarter Comparison (M)

Compared With The
Item Q1 2013 Q1 2014 Change‬
Revenues 19.62 8.94 (54.4 %)
Gross Income (0.90) (3.26) (262.6 %)
Operating Income (3.89) (7.22) (85.8 %)
Net Income (3.17) (7.34) (131.4 %)
Average Shares 30.00 30.00 -
EPS (Riyals) (0.11) (0.24) (131.4 %)


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2005 3.17 - (0.34) - (1.57) -
Q2 2005 25.21 - 1.35 - (4.03) -
Q3 2005 4.95 - 0.04 - - -
Q4 2005 4.11 - 4.20 - 4.46 -
Q1 2006 6.85 116.1 % 0.10 129.4 % (1.23) 21.7 %
Q2 2006 9.68 (61.6 %) 2.87 112.6 % 1.74 143.2 %
Q3 2006 15.64 216.0 % 4.79 11875.0 % 3.69 -
Q4 2006 33.48 714.6 % 1.13 (73.1 %) (0.72) (116.2 %)
Q1 2007 17.90 161.3 % 1.29 1190.0 % 0.21 117.1 %
Q2 2007 7.86 (18.8 %) (0.20) (107.0 %) (1.88) (207.9 %)
Q3 2007 12.27 (21.5 %) 2.82 (41.1 %) 1.45 (60.8 %)
Q4 2007 11.20 (66.5 %) (0.28) (124.8 %) (2.13) (194.6 %)
Q1 2008 27.42 53.2 % 0.90 (30.2 %) (0.63) (400.0 %)
Q2 2008 11.24 43.0 % 0.64 420.0 % (0.67) 64.3 %
Q3 2008 30.27 146.7 % 3.82 35.5 % 1.53 5.7 %
Q4 2008 19.48 73.9 % 0.37 232.1 % (1.56) 26.8 %
Q1 2009 26.56 (3.1 %) 0.55 (38.9 %) (1.08) (71.4 %)
Q2 2009 14.47 28.7 % (1.74) (371.9 %) (3.41) (409.0 %)
Q3 2009 22.95 (24.2 %) 0.15 (96.1 %) (1.84) (220.3 %)
Q4 2009 20.30 4.2 % (0.58) (256.8 %) (2.43) (55.5 %)
Q1 2010 14.24 (46.4 %) (2.40) (536.4 %) (3.97) (267.6 %)
Q2 2010 16.09 11.2 % (8.13) (367.2 %) (9.82) (188.0 %)
Q3 2010 21.18 (7.7 %) (0.20) (233.3 %) (2.35) (27.7 %)
Q4 2010 29.38 44.7 % (2.04) (251.7 %) (6.41) (164.3 %)
Q1 2011 13.02 (8.6 %) (1.72) 28.3 % (3.99) (0.5 %)
Q2 2011 17.64 9.6 % 1.21 114.9 % (0.91) 90.7 %
Q3 2011 21.14 (0.2 %) (3.44) (1,620.0 %) (6.05) (157.4 %)
Q4 2011 11.46 (61.0 %) (3.69) (80.9 %) (7.24) (12.9 %)
Q1 2012 12.02 (7.7 %) 0.72 141.9 % (7.86) (96.9 %)
Q2 2012 21.61 22.5 % (1.15) (195.0 %) (3.72) (308.4 %)
Q3 2012 22.10 4.5 % (0.94) 72.7 % (4.51) 25.5 %
Q4 2012 16.00 39.6 % (5.45) (47.7 %) (11.82) (63.3 %)
Q1 2013 19.62 63.2 % (0.90) (225.0 %) (3.89) 50.5 %
Q2 2013 20.27 (6.2 %) 3.24 381.7 % 0.22 105.8 %
Q3 2013 18.97 (14.2 %) (0.71) 24.5 % (3.49) 22.6 %
Q4 2013 11.13 (30.4 %) (3.02) 44.6 % (6.86) 41.9 %
Q1 2014 8.94 (54.4 %) (3.26) (262.6 %) (7.22) (85.8 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2005 9.40 - 0.31 - 9.40 0.31
Q2 2005 20.46 - 0.68 - 20.46 0.68
Q3 2005 27.13 - 0.90 - 27.13 0.90
Q4 2005 14.75 - 0.49 - 14.75 0.49
Q1 2006 3.56 (62.1 %) 0.12 - 3.56 0.12
Q2 2006 (20.07) (198.1 %) (0.67) - (20.07) (0.67)
Q3 2006 (23.31) (185.9 %) (0.78) (44.16) 20.85 0.69
Q4 2006 (14.77) (200.2 %) (0.49) (11.26) (3.51) (0.12)
Q1 2007 0.24 (93.2 %) 0.01 - 0.24 0.01
Q2 2007 (2.58) 87.1 % (0.09) - (2.58) (0.09)
Q3 2007 0.99 104.2 % 0.03 - 0.99 0.03
Q4 2007 (1.49) 89.9 % (0.05) - (1.49) (0.05)
Q1 2008 0.55 127.7 % 0.02 - 0.55 0.02
Q2 2008 (0.36) 85.9 % (0.01) - (0.36) (0.01)
Q3 2008 1.33 34.5 % 0.04 - 1.33 0.04
Q4 2008 (1.22) 18.0 % (0.04) - (1.22) (0.04)
Q1 2009 0.10 (81.1 %) 0.00 - 0.10 0.00
Q2 2009 (3.05) (737.9 %) (0.10) - (3.05) (0.10)
Q3 2009 (1.79) (234.6 %) (0.06) - (1.79) (0.06)
Q4 2009 (2.22) (81.4 %) (0.07) - (2.22) (0.07)
Q1 2010 1.33 1178.8 % 0.04 - 1.33 0.04
Q2 2010 (10.29) (237.5 %) (0.34) - (10.29) (0.34)
Q3 2010 (2.54) (41.9 %) (0.08) - (2.54) (0.08)
Q4 2010 (6.16) (177.4 %) (0.21) - (6.16) (0.21)
Q1 2011 (1.87) (240.8 %) (0.06) - (1.87) (0.06)
Q2 2011 (1.70) 83.4 % (0.06) - (1.70) (0.06)
Q3 2011 (5.89) (132.5 %) (0.20) - (5.89) (0.20)
Q4 2011 (6.59) (7.1 %) (0.22) - (6.59) (0.22)
Q1 2012 7.25 487.0 % 0.24 (4.32) 11.57 0.39
Q2 2012 (0.14) 91.6 % 0.00 0.02 (0.16) (0.01)
Q3 2012 (2.32) 60.7 % (0.08) 2.27 (4.59) (0.15)
Q4 2012 (12.31) (86.7 %) (0.41) 21.67 (33.98) (1.13)
Q1 2013 (3.17) (143.8 %) (0.11) - (3.17) (0.11)
Q2 2013 0.05 132.9 % 0.00 - 0.05 0.00
Q3 2013 (2.90) (25.4 %) (0.10) - (2.90) (0.10)
Q4 2013 (6.25) 49.2 % (0.21) (0.11) (6.14) (0.20)
Q1 2014 (7.34) (131.4 %) (0.24) - (7.34) (0.24)

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2005 - - -
Q2 2005 - - -
Q3 2005 - - -
Q4 2005 14.02 % - 191.59 %
Q1 2006 13.84 % - 160.24 %
Q2 2006 28.18 % - 99.11 %
Q3 2006 32.97 % 65.16 % 52.60 %
Q4 2006 13.54 % 23.49 % 1.26 %
Q1 2007 13.14 % 21.96 % (3.25 %)
Q2 2007 9.36 % 26.02 % 20.03 %
Q3 2007 7.05 % 18.60 % (6.80 %)
Q4 2007 7.37 % 24.68 % (5.77 %)
Q1 2008 5.51 % 19.33 % (4.31 %)
Q2 2008 6.57 % 19.45 % (0.51 %)
Q3 2008 6.34 % 15.72 % 0.03 %
Q4 2008 6.48 % 14.89 % 0.33 %
Q1 2009 6.15 % 14.35 % (0.18 %)
Q2 2009 3.30 % 11.79 % (3.13 %)
Q3 2009 (0.80 %) 9.08 % (7.14 %)
Q4 2009 (1.92 %) 7.57 % (8.25 %)
Q1 2010 (6.35 %) 4.78 % (7.96 %)
Q2 2010 (14.90 %) (4.35 %) (17.63 %)
Q3 2010 (15.75 %) (5.30 %) (19.10 %)
Q4 2010 (15.79 %) (9.22 %) (21.83 %)
Q1 2011 (15.18 %) (9.46 %) (26.18 %)
Q2 2011 (3.39 %) 2.00 % (15.11 %)
Q3 2011 (7.38 %) (2.30 %) (19.25 %)
Q4 2011 (12.08 %) (2.58 %) (25.39 %)
Q1 2012 (8.35 %) (6.03 %) (4.22 %)
Q2 2012 (11.41 %) (9.77 %) (1.64 %)
Q3 2012 (7.53 %) (5.62 %) 0.33 %
Q4 2012 (9.51 %) (10.79 %) (37.87 %)
Q1 2013 (10.64 %) (7.38 %) (52.82 %)
Q2 2013 (5.19 %) (11.88 %) (53.46 %)
Q3 2013 (5.10 %) 3.87 % (53.45 %)
Q4 2013 (1.99 %) 11.04 % (17.39 %)
Q1 2014 (6.33 %) 16.52 % (27.55 %)


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2005 30.00 - - 12.45
Q2 2005 30.00 - - 14.09
Q3 2005 30.00 - - 15.00
Q4 2005 30.00 2.39 2.39 15.46
Q1 2006 30.00 2.20 2.20 15.57
Q2 2006 30.00 0.85 0.85 14.91
Q3 2006 30.00 (0.84) 0.64 14.12
Q4 2006 30.00 (1.82) 0.03 13.58
Q1 2007 30.00 (1.93) (0.08) 13.59
Q2 2007 30.00 (1.35) 0.50 13.50
Q3 2007 30.00 (0.54) (0.16) 13.52
Q4 2007 30.00 (0.09) (0.09) 13.47
Q1 2008 30.00 (0.08) (0.08) 13.49
Q2 2008 30.00 (0.01) (0.01) 13.51
Q3 2008 30.00 0.00 0.00 13.56
Q4 2008 30.00 0.01 0.01 13.52
Q1 2009 30.00 (0.01) (0.01) 13.33
Q2 2009 30.00 (0.09) (0.09) 13.42
Q3 2009 30.00 (0.20) (0.20) 13.36
Q4 2009 30.00 (0.23) (0.23) 13.28
Q1 2010 30.00 (0.19) (0.19) 13.33
Q2 2010 30.00 (0.43) (0.43) 12.99
Q3 2010 30.00 (0.46) (0.46) 12.90
Q4 2010 30.00 (0.59) (0.59) 12.70
Q1 2011 30.00 (0.70) (0.70) 12.63
Q2 2011 30.00 (0.41) (0.41) 12.58
Q3 2011 30.00 (0.52) (0.52) 12.38
Q4 2011 30.00 (0.54) (0.54) 12.16
Q1 2012 30.00 (0.23) (0.09) 12.65
Q2 2012 30.00 (0.18) (0.04) 12.47
Q3 2012 30.00 (0.06) 0.01 12.35
Q4 2012 30.00 (0.25) (0.91) 11.92
Q1 2013 30.00 (0.60) (1.40) 11.80
Q2 2013 30.00 (0.59) (1.39) 11.80
Q3 2013 30.00 (0.61) (1.33) 11.71
Q4 2013 30.00 (0.41) (0.41) 11.50
Q1 2014 30.00 (0.55) (0.54) 11.26

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2005 - - 2.03
Q2 2005 - - 4.21
Q3 2005 - - 5.13
Q4 2005 54.23 54.23 8.39
Q1 2006 33.84 33.84 4.77
Q2 2006 More than 100 More than 100 7.04
Q3 2006 NEG More than 100 7.35
Q4 2006 NEG More than 100 2.58
Q1 2007 NEG NEG 2.54
Q2 2007 NEG 55.84 2.07
Q3 2007 NEG NEG 2.53
Q4 2007 NEG NEG 2.81
Q1 2008 NEG NEG 1.98
Q2 2008 NEG NEG 1.73
Q3 2008 More than 100 More than 100 1.18
Q4 2008 More than 100 More than 100 0.94
Q1 2009 NEG NEG 1.13
Q2 2009 NEG NEG 1.25
Q3 2009 NEG NEG 1.30
Q4 2009 NEG NEG 1.29
Q1 2010 NEG NEG 1.24
Q2 2010 NEG NEG 1.08
Q3 2010 NEG NEG 1.13
Q4 2010 NEG NEG 1.19
Q1 2011 NEG NEG 1.35
Q2 2011 NEG NEG 1.38
Q3 2011 NEG NEG 1.31
Q4 2011 NEG NEG 3.06
Q1 2012 NEG NEG 3.85
Q2 2012 NEG NEG 2.31
Q3 2012 NEG More than 100 2.15
Q4 2012 NEG NEG 1.97
Q1 2013 NEG NEG 2.01
Q2 2013 NEG NEG 1.85
Q3 2013 NEG NEG 2.01
Q4 2013 NEG NEG 2.62
Q1 2014 NEG NEG 2.52

Business Segments (Million)

Compared With The
Period Agri Sector- Shri Project Agri Sector- Jouf Project Poultry Project Dates Factory Dairy sector Agricultural Activity
Q1 2013 11.09 2.87 2.50 3.17 - -
Q2 2013 10.14 4.29 2.50 3.34 - -
Q3 2013 10.67 4.13 2.50 1.67 - -
Q4 2013 5.75 1.28 2.50 1.60 - -
Q1 2014 3.60 0.70 2.50 2.14 - -

Current
Market Cap (M Riyal) 540.00
Enterprise Value (EV) (M) 490.75
Shares Outstanding ((M)) 30.00
EPS ( Riyal) (TTM) (0.34)
Book Value (BV) ( Riyal) 9.72
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 1.85
Return on Average Assets (%) (TTM) (2.39 )
Return on Average Equity (%) (TTM) (3.48 )

Share Price

Al Gassim Investment Holding Co. (GACO)


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