AlBaha swings to net loss in H1

AlBaha swings to net loss in H1

17/08/2017 Argaam Exclusive

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AlBaha Investment and Development Co. swung to a net loss of SAR 321,503 in the first half of 2017, compared to a net profit of SAR 14,944 in the same period last year, due to recording a one-off loss of SAR 5.8 million from subscription costs and property losses.

 

In addition, an increase in general and administrative expenses also weighed on the first-half results.



Financials (M)

Item 6m 2016 6m 2017 Change‬
Revenues 3.19 2.78 (12.8 %)
Gross Income 0.26 0.72 173.4 %
Operating Income 0.02 (0.30) (2106.7 %)
Net Income 0.02 (0.32) (2246.7 %)
Average Shares 2,511.87 2,850.97 13.5 %
EPS (Halala) 0.00 (0.01) (1991.3 %)

The company also turned to a net loss of SAR 327,590 in the second quarter versus a net profit of SAR 5,803 in Q2 2016, hurt by higher general and administrative expenses along with SAR 473,405 in depreciation costs.



Current Quarter Comparison (M)

Compared With The
Item Q2 2016 Q2 2017 Change‬
Revenues 1.51 0.57 (62.1 %)
Gross Income 0.14 0.57 314.5 %
Operating Income 0.01 (0.31) (5216.7 %)
Net Income 0.01 (0.33) (5550.0 %)
Average Shares 2,511.87 2,850.97 13.5 %
EPS (Halala) 0.00 (0.01) (4901.8 %)


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2008 - - - - (1.51) (214.8 %)
Q2 2008 - - - - (1.97) 20.3 %
Q3 2008 0.21 (52.3 %) (0.86) (72.4 %) (1.63) 13.7 %
Q4 2008 0.02 - (0.38) 56.9 % (9.78) (15.1 %)
Q1 2009 - - - - (1.27) 16.2 %
Q2 2009 - - - - (1.51) 23.4 %
Q3 2009 0.24 17.6 % (0.72) 16.1 % (0.92) 43.7 %
Q4 2009 - - (0.42) (11.1 %) (1.49) 84.7 %
Q1 2010 - - - - (3.78) (198.2 %)
Q2 2010 - - - - (1.50) 0.3 %
Q3 2010 0.16 (35.3 %) (0.81) (11.9 %) (0.97) (5.2 %)
Q4 2010 - - (0.31) 25.9 % (2.27) (51.9 %)
Q1 2011 - - - - (1.86) 50.8 %
Q2 2011 - - - - (1.60) (6.4 %)
Q3 2011 0.16 3.2 % (1.08) (33.6 %) (3.58) (270.2 %)
Q4 2011 - - (0.29) 5.8 % (1.56) 31.1 %
Q1 2012 - - - - (1.18) 36.5 %
Q2 2012 - - - - (1.46) 9.0 %
Q3 2012 0.11 (34.8 %) (0.82) 24.5 % (1.16) 67.6 %
Q4 2012 - - (0.31) (6.1 %) (1.38) 11.5 %
Q1 2013 - - - - (1.24) (5.3 %)
Q2 2013 - - - - (1.07) 26.8 %
Q3 2013 - - (0.24) 71.0 % (1.05) 9.7 %
Q4 2013 - - - - (6.13) (343.8 %)
Q1 2014 - - - - (1.11) 10.5 %
Q2 2014 - - - - (1.16) (8.9 %)
Q3 2014 - - - - (0.86) 18.4 %
Q4 2014 - - - - (0.88) 85.6 %
Q1 2015 0.41 - 0.15 - 0.04 103.4 %
Q2 2015 0.62 - 0.13 - 0.01 100.6 %
Q3 2015 1.63 - 0.10 - 0.01 100.6 %
Q4 2015 2.86 - 0.23 - 0.02 102.1 %
Q1 2016 1.68 308.5 % 0.13 (17.8 %) 0.01 (76.3 %)
Q2 2016 1.51 143.9 % 0.14 7.0 % 0.01 (14.3 %)
Q3 2016 2.88 77.1 % 0.18 81.4 % 0.01 20.0 %
Q4 2016 2.81 (2.0 %) 0.17 (26.0 %) (0.15) (894.7 %)
Q1 2017 2.21 31.4 % 0.15 17.6 % 0.01 (33.3 %)
Q2 2017 0.57 (62.1 %) 0.57 314.5 % (0.31) (5216.7 %)


Profit Performance (Million)

Period Net Income Change EPS(Halala) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2008 (1.27) (167.4 %) (0.05) - (1.27) 0.00
Q2 2008 (1.94) 21.3 % (0.08) - (1.94) 0.00
Q3 2008 (1.54) 21.5 % (0.06) - (1.54) 0.00
Q4 2008 (10.18) (20.9 %) (0.41) - (10.18) 0.00
Q1 2009 (1.24) 2.8 % (0.07) - (1.24) 0.00
Q2 2009 (1.50) 22.8 % (0.08) - (1.50) 0.00
Q3 2009 (0.91) 40.7 % (0.05) - (0.91) 0.00
Q4 2009 (0.91) 91.0 % (0.05) - (0.91) 0.00
Q1 2010 (3.77) (204.9 %) (0.15) - (3.77) 0.00
Q2 2010 (1.48) 0.9 % (0.06) - (1.48) 0.00
Q3 2010 (0.97) (6.2 %) (0.04) - (0.97) 0.00
Q4 2010 (0.20) 78.0 % (0.01) - (0.20) 0.00
Q1 2011 (1.86) 50.7 % (0.07) - (1.86) 0.00
Q2 2011 (1.60) (7.9 %) (0.06) - (1.60) 0.00
Q3 2011 (3.96) (307.3 %) (0.16) - (3.96) 0.00
Q4 2011 1.67 931.8 % 0.07 - 1.67 0.00
Q1 2012 (1.18) 36.5 % (0.06) - (1.18) 0.00
Q2 2012 (1.46) 8.9 % (0.08) - (1.46) 0.00
Q3 2012 (1.54) 61.2 % (0.08) - (1.54) 0.00
Q4 2012 (1.29) (177.2 %) (0.07) - (1.29) 0.00
Q1 2013 (69.94) (5,832.2 %) (2.78) (68.70) (1.24) 0.00
Q2 2013 (1.07) 26.8 % (0.04) - (1.07) 0.00
Q3 2013 (1.42) 7.3 % (0.06) - (1.42) 0.00
Q4 2013 (5.85) (353.2 %) (0.23) - (5.85) 0.00
Q1 2014 (1.11) 98.4 % (0.04) - (1.11) 0.00
Q2 2014 (1.16) (8.9 %) (0.05) - (1.16) 0.00
Q3 2014 (0.95) 33.4 % (0.04) - (0.95) 0.00
Q4 2014 (0.88) 84.9 % (0.04) - (0.88) 0.00
Q1 2015 0.04 103.4 % 0.00 - 0.04 0.00
Q2 2015 0.01 100.6 % 0.00 - 0.01 0.00
Q3 2015 0.01 100.5 % 0.00 - 0.01 0.00
Q4 2015 0.02 101.9 % 0.00 - 0.02 0.00
Q1 2016 0.01 (76.3 %) 0.00 - 0.01 0.00
Q2 2016 0.01 (14.3 %) 0.00 - 0.01 0.00
Q3 2016 0.01 20.0 % 0.00 - 0.01 0.00
Q4 2016 (0.15) (994.1 %) (0.01) - (0.15) 0.00
Q1 2017 0.01 (33.3 %) 0.00 - 0.01 0.00
Q2 2017 (0.33) (5550.0 %) (0.01) (2.12) 1.79 0.00

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2008 (195.61 %) (990.76 %) (1266.73 %)
Q2 2008 (320.70 %) (2452.56 %) (3162.79 %)
Q3 2008 (849.27 %) (5018.05 %) (6427.80 %)
Q4 2008 (551.56 %) (5142.22 %) (6637.33 %)
Q1 2009 (551.56 %) (5049.78 %) (6621.33 %)
Q2 2009 (551.56 %) (4862.67 %) (6425.33 %)
Q3 2009 (422.22 %) (3934.48 %) (5298.47 %)
Q4 2009 (474.69 %) (838.59 %) (1892.95 %)
Q1 2010 (474.69 %) (1881.74 %) (2944.40 %)
Q2 2010 (474.69 %) (1880.91 %) (2938.59 %)
Q3 2010 (788.46 %) (3073.08 %) (4576.28 %)
Q4 2010 (718.59 %) (3704.49 %) (4119.23 %)
Q1 2011 (718.59 %) (2630.13 %) (2892.95 %)
Q2 2011 (718.59 %) (2837.18 %) (2967.95 %)
Q3 2011 (865.22 %) (4380.75 %) (4729.19 %)
Q4 2011 (854.04 %) (3952.80 %) (3565.84 %)
Q1 2012 (854.04 %) (3526.71 %) (3144.10 %)
Q2 2012 (854.04 %) (3447.20 %) (3055.28 %)
Q3 2012 (1057.14 %) (2997.14 %) (2380.00 %)
Q4 2012 (1074.29 %) (2841.90 %) (5201.90 %)
Q1 2013 (1074.29 %) (2924.76 %) (5261.90 %)
Q2 2013 (1074.29 %) (2573.33 %) (4889.52 %)
Q3 2013 - - -
Q4 2013 - - -
Q1 2014 - - -
Q2 2014 - - -
Q3 2014 - - -
Q4 2014 - - -
Q1 2015 36.89 % (312.14 %) (717.23 %)
Q2 2015 27.26 % (62.37 %) (173.33 %)
Q3 2015 14.22 % (11.62 %) (31.37 %)
Q4 2015 11.03 % 1.25 % 1.21 %
Q1 2016 8.57 % 0.59 % 0.56 %
Q2 2016 7.69 % 0.51 % 0.48 %
Q3 2016 7.50 % 0.45 % 0.43 %
Q4 2016 6.87 % (1.46 %) (1.48 %)
Q1 2017 6.72 % (1.41 %) (1.42 %)
Q2 2017 12.58 % 0.32 % 19.45 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Halala) Adjusted EPS (Halala) Book Value (BV)
Q1 2008 2,511.87 (0.56) (0.56) 0.05
Q2 2008 2,511.87 (0.54) (0.54) 0.05
Q3 2008 2,511.87 (0.52) (0.52) 0.05
Q4 2008 2,511.87 (0.59) (0.59) 0.04
Q1 2009 1,846.22 (0.81) (0.81) 0.06
Q2 2009 1,846.22 (0.78) (0.78) 0.06
Q3 2009 1,846.22 (0.75) (0.75) 0.06
Q4 2009 1,846.22 (0.25) (0.25) 0.06
Q1 2010 2,511.87 (0.28) (0.28) 0.04
Q2 2010 2,511.87 (0.28) (0.28) 0.04
Q3 2010 2,511.87 (0.28) (0.28) 0.04
Q4 2010 2,511.87 (0.26) (0.26) 0.04
Q1 2011 2,511.87 (0.18) (0.18) 0.04
Q2 2011 2,511.87 (0.18) (0.18) 0.04
Q3 2011 2,511.87 (0.30) (0.30) 0.03
Q4 2011 2,511.87 (0.23) (0.23) 0.04
Q1 2012 1,846.22 (0.27) (0.27) 0.05
Q2 2012 1,846.22 (0.27) (0.27) 0.05
Q3 2012 1,846.22 (0.14) (0.14) 0.05
Q4 2012 1,846.22 (0.30) (0.30) 0.04
Q1 2013 2,511.87 (2.95) (0.22) 0.01
Q2 2013 2,511.87 (2.94) (0.20) 0.01
Q3 2013 2,511.87 (2.93) (0.20) 0.01
Q4 2013 2,511.87 (3.12) (0.38) 0.00
Q1 2014 2,511.87 (0.38) (0.38) 0.00
Q2 2014 2,511.87 (0.38) (0.38) 0.00
Q3 2014 2,511.87 (0.36) (0.36) 0.00
Q4 2014 2,511.87 (0.16) (0.16) 0.00
Q1 2015 2,511.87 (0.12) (0.12) 0.00
Q2 2015 2,511.87 (0.07) (0.07) 0.00
Q3 2015 2,511.87 (0.03) (0.03) 0.00
Q4 2015 2,511.87 0.00 0.00 0.00
Q1 2016 2,511.87 0.00 0.00 0.00
Q2 2016 2,511.87 0.00 0.00 0.00
Q3 2016 2,511.87 0.00 0.00 0.00
Q4 2016 2,511.87 (0.01) (0.01) 0.00
Q1 2017 2,850.97 0.00 0.00 0.00
Q2 2017 2,850.97 (0.02) 0.06 0.05

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2008 NEG NEG 5.68
Q2 2008 NEG NEG 5.47
Q3 2008 NEG NEG 3.42
Q4 2008 NEG NEG 3.38
Q1 2009 NEG NEG 4.01
Q2 2009 NEG NEG 7.79
Q3 2009 NEG NEG 6.27
Q4 2009 NEG NEG 6.31
Q1 2010 NEG NEG 6.24
Q2 2010 NEG NEG 5.16
Q3 2010 NEG NEG 4.99
Q4 2010 NEG NEG 4.68
Q1 2011 NEG NEG 5.24
Q2 2011 NEG NEG 5.82
Q3 2011 NEG NEG 7.59
Q4 2011 NEG NEG 7.06
Q1 2012 NEG NEG 9.92
Q2 2012 NEG NEG 6.86
Q3 2012 NEG NEG 7.92
Q4 2012 NEG NEG 7.68
Q1 2013 NEG NEG 29.62
Q2 2013 NEG NEG 31.57
Q3 2013 NEG NEG 34.83
Q4 2013 NEG NEG 60.58
Q1 2014 NEG NEG 70.42
Q2 2014 NEG NEG 84.79
Q3 2014 NEG NEG 101.79
Q4 2014 NEG NEG 124.78
Q1 2015 NEG NEG 123.56
Q2 2015 NEG NEG 123.41
Q3 2015 NEG NEG 123.19
Q4 2015 More than 100 More than 100 122.62
Q1 2016 More than 100 More than 100 122.34
Q2 2016 More than 100 More than 100 122.15
Q3 2016 More than 100 More than 100 121.97
Q4 2016 NEG NEG 121.75
Q1 2017 NEG NEG 121.57
Q2 2017 NEG More than 100 2.74


Financial Ratios
Current
Market Cap (M Riyal) 960.50
Enterprise Value (EV) (M) 967.12
Shares Outstanding ((M)) 2,182.95
EPS (Halala) (TTM) 0.16
Book Value (BV) ( Riyal) 0.10
Par Value ( Halala) 10.00
Adjusted P/E (Last12) More than 100
P/E (TTM) More than 100
Price/book 4.43
Return on Average Assets (%) (TTM) 1.3
Return on Average Equity (%) (TTM) 1.7
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Share Price

Al-Baha Investment and Development Co.
0.44
0.01 3.23 %

Al-Baha Investment and Development Co. (ALBAHA)

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