Al Hammadi‘s net profit drops 9% in 9M 2019

28/10/2019 Argaam Exclusive

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Share Price

Al Hammadi Holding (ALHAMMADI)

Al Hammadi Company for Development and Investment posted a net profit of SAR 65.35 million for the first nine months of 2019, a 9.38 percent decline as compared to SAR 72.12 million in the same period in 2018.

Financials (M)

Item	9m 2018	9m 2019	Change‬
Revenues	665.56	703.51	5.7 %
Gross Income	185.04	198.90	7.5 %
Operating Income	97.74	89.99	(7.9 %)
Net Income	72.12	65.35	(9.4 %)
Average Shares	160.00	160.00	-
EPS (Riyals)	0.45	0.41	(9.4 %)

The company attributed the decrease in earnings to the increase in operating expenses, administrative salaries and depreciation expenses related to Nuzha Hospital, which opened in Feb. 2018 in addition to the increase in the subsidiary company expenses.

In Q3 2019, the company posted a net profit after zakat and tax of SAR 21.17 million, a 0.65 percent fall as compared to SAR 21.31 million in the same period last year on decrease in pharmaceuticals sales of the subsidiary firm.

On a quarterly basis, the company posted a 5.7 percent rise in net profit.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2018	Q3 2019	Change‬
Revenues	250.40	220.00	(12.1 %)
Gross Income	64.92	62.22	(4.2 %)
Operating Income	31.19	31.85	2.1 %
Net Income	21.31	21.17	(0.6 %)
Average Shares	160.00	160.00	-
EPS (Riyals)	0.13	0.13	(0.6 %)

Item	Q2 2019	Q3 2019	Change‬
Revenues	253.83	220.00	(13.3 %)
Gross Income	71.08	62.22	(12.5 %)
Operating Income	30.95	31.85	2.9 %
Net Income	20.01	21.17	5.8 %
Average Shares	160.00	160.00	-
EPS (Riyals)	0.13	0.13	5.8 %

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
Q1 2010	-	-	-	-	-	-	-
Q2 2010	-	-	-	-	-	-	-
Q3 2010	-	-	-	-	-	-	-
Q4 2010	-	-	-	-	-	-	-
2010	301.55	(2.7 %)	136.40	8.4 %	79.87	4.5 %	0.50
Q1 2011	-	-	-	-	-	-	-
Q2 2011	-	-	-	-	-	-	-
Q3 2011	-	-	-	-	-	-	-
Q4 2011	-	-	-	-	-	-	-
2011	330.66	9.7 %	147.65	8.3 %	89.94	12.6 %	0.56
Q1 2012	-	-	-	-	-	-	-
Q2 2012	-	-	-	-	-	-	-
Q3 2012	-	-	-	-	-	-	-
Q4 2012	-	-	-	-	-	-	-
2012	378.68	14.5 %	163.11	10.5 %	94.27	4.8 %	0.59
Q1 2013	104.84	-	47.34	-	29.83	-	0.19
Q2 2013	108.85	-	45.84	-	30.06	-	0.19
Q3 2013	96.26	-	36.81	-	18.32	-	0.11
Q4 2013	124.13	-	55.17	-	33.29	-	0.21
2013	434.08	14.6 %	185.16	13.5 %	111.50	18.3 %	0.70
Q1 2014	122.04	16.4 %	54.71	15.6 %	34.23	14.7 %	0.21
Q2 2014	121.66	11.8 %	53.68	17.1 %	35.60	18.4 %	0.22
Q3 2014	108.83	13.1 %	44.74	21.5 %	25.42	38.7 %	0.16
Q4 2014	129.43	4.3 %	55.99	1.5 %	33.71	1.2 %	0.21
2014	481.96	11.0 %	209.11	12.9 %	128.95	15.6 %	0.81
Q1 2015	129.48	6.1 %	50.64	(7.4 %)	41.01	19.8 %	0.26
Q2 2015	137.36	12.9 %	63.56	18.4 %	36.89	3.6 %	0.23
Q3 2015	136.80	25.7 %	57.97	29.6 %	27.69	8.9 %	0.17
Q4 2015	157.70	21.8 %	68.06	21.6 %	35.75	6.0 %	0.22
2015	561.33	16.5 %	240.24	14.9 %	141.33	9.6 %	0.88
Q1 2016	144.16	11.3 %	54.75	8.1 %	21.14	(48.5 %)	0.13
Q2 2016	138.08	0.5 %	57.56	(9.5 %)	20.63	(44.1 %)	0.13
Q3 2016	141.35	3.3 %	56.48	(2.6 %)	20.73	(25.1 %)	0.13
Q4 2016	182.65	15.8 %	73.35	7.8 %	10.48	(70.7 %)	0.07
2016	606.24	8.0 %	242.13	0.8 %	72.96	(48.4 %)	0.46
Q1 2017	180.23	25.0 %	62.02	13.3 %	27.97	32.3 %	0.17
Q2 2017	176.71	28.0 %	58.16	1.0 %	25.66	24.4 %	0.16
Q3 2017	163.01	15.3 %	53.91	(4.5 %)	23.59	13.8 %	0.15
Q4 2017	188.69	3.3 %	65.08	(11.3 %)	30.76	193.4 %	0.19
2017	708.62	16.9 %	239.16	(1.2 %)	107.97	48.0 %	0.67
Q1 2018	200.67	11.3 %	66.84	7.8 %	30.88	10.4 %	0.19
Q2 2018	214.49	21.4 %	53.28	(8.4 %)	19.93	(22.3 %)	0.12
Q3 2018	250.40	53.6 %	64.92	20.4 %	21.31	(9.7 %)	0.13
Q4 2018	228.04	20.9 %	65.32	0.4 %	17.70	(42.5 %)	0.11
2018	893.60	26.1 %	250.36	4.7 %	89.81	(16.8 %)	0.56
Q1 2019	229.68	14.5 %	65.60	(1.9 %)	24.17	(21.7 %)	0.15
Q2 2019	253.83	18.3 %	71.08	33.4 %	20.01	0.4 %	0.13
Q3 2019	220.00	(12.1 %)	62.22	(4.2 %)	21.17	(0.6 %)	0.13

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
2009	309.88	-	125.79	-	76.40	-	0.48
2010	301.55	(2.7 %)	136.40	8.4 %	79.87	4.5 %	0.50
2011	330.66	9.7 %	147.65	8.3 %	89.94	12.6 %	0.56
2012	378.68	14.5 %	163.11	10.5 %	94.27	4.8 %	0.59
2013	434.08	14.6 %	185.16	13.5 %	111.50	18.3 %	0.70
2014	481.96	11.0 %	209.11	12.9 %	128.95	15.6 %	0.81
2015	561.33	16.5 %	240.24	14.9 %	141.33	9.6 %	0.88
2016	606.24	8.0 %	242.13	0.8 %	72.96	(48.4 %)	0.46
2017	708.62	16.9 %	239.16	(1.2 %)	107.97	48.0 %	0.67
2018	893.60	26.1 %	250.36	4.7 %	89.81	(16.8 %)	0.56

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2010	-	-	-
Q2 2010	-	-	-
Q3 2010	-	-	-
Q4 2010	-	-	-
2010	45.23 %	33.73 %	26.49 %
Q1 2011	-	-	-
Q2 2011	-	-	-
Q3 2011	-	-	-
Q4 2011	-	-	-
2011	44.65 %	31.79 %	27.20 %
Q1 2012	-	-	-
Q2 2012	-	-	-
Q3 2012	-	-	-
Q4 2012	-	-	-
2012	43.07 %	27.97 %	24.89 %
Q1 2013	-	-	-
Q2 2013	-	-	-
Q3 2013	-	-	-
Q4 2013	42.66 %	27.60 %	24.31 %
2013	42.66 %	28.96 %	25.69 %
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 %
2014	43.39 %	30.07 %	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 %
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 %
2016	39.94 %	25.10 %	12.03 %
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 %
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 %
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 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2009	40.59 %	31.76 %	24.65 %
2010	45.23 %	33.73 %	26.49 %
2011	44.65 %	31.79 %	27.20 %
2012	43.07 %	27.97 %	24.89 %
2013	42.66 %	28.96 %	25.69 %
2014	43.39 %	30.07 %	26.75 %
2015	42.80 %	31.06 %	23.43 %
2016	39.94 %	25.10 %	12.03 %
2017	33.75 %	25.39 %	15.24 %
2018	28.02 %	24.14 %	10.05 %

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	45.15 %	31.89 %	28.45 %
Q2 2013	42.11 %	24.00 %	22.10 %
Q3 2013	38.24 %	23.34 %	19.03 %
Q4 2013	44.45 %	30.42 %	26.82 %
Q1 2014	44.83 %	32.21 %	28.04 %
Q2 2014	44.12 %	32.25 %	29.26 %
Q3 2014	41.11 %	26.05 %	23.36 %
Q4 2014	43.26 %	29.45 %	26.04 %
Q1 2015	39.11 %	28.49 %	24.10 %
Q2 2015	46.28 %	30.21 %	26.86 %
Q3 2015	42.37 %	30.62 %	20.24 %
Q4 2015	43.16 %	34.31 %	22.67 %
Q1 2016	37.98 %	27.65 %	14.66 %
Q2 2016	41.68 %	29.60 %	14.94 %
Q3 2016	39.95 %	27.83 %	14.67 %
Q4 2016	40.16 %	17.59 %	5.74 %
Q1 2017	34.41 %	25.82 %	15.52 %
Q2 2017	32.91 %	26.06 %	14.52 %
Q3 2017	33.07 %	24.41 %	14.47 %
Q4 2017	34.49 %	25.21 %	16.30 %
Q1 2018	33.31 %	28.10 %	15.39 %
Q2 2018	24.84 %	23.98 %	9.29 %
Q3 2018	25.93 %	21.86 %	8.51 %
Q4 2018	28.65 %	23.30 %	7.76 %
Q1 2019	28.56 %	22.87 %	10.52 %
Q2 2019	28.00 %	22.30 %	7.88 %
Q3 2019	28.28 %	26.14 %	9.62 %

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
Q2 2019	160.00	0.52	0.52	9.51
Q3 2019	160.00	0.52	0.52	9.63

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2009	160.00	0.48	0.48	2.35
2010	160.00	0.50	0.50	2.78
2011	160.00	0.56	0.56	2.96
2012	160.00	0.59	0.59	3.55
2013	160.00	0.70	0.70	3.66
2014	160.00	0.81	0.81	8.25
2015	160.00	0.88	0.82	8.66
2016	160.00	0.46	0.46	8.56
2017	160.00	0.67	0.67	8.67
2018	160.00	0.56	0.56	9.24

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
Q2 2019	30.97	30.97	1.69
Q3 2019	32.09	32.09	1.73

Period	P/E	Adjusted P/E	Price/book
2009	-	-	-
2010	-	-	-
2011	-	-	-
2012	-	-	-
2013	-	-	-
2014	48.92	48.92	4.78
2015	41.63	44.73	4.24
2016	68.34	68.34	3.64
2017	41.25	41.25	3.21
2018	33.55	33.55	2.04

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

Period	healthy services and other	Pharmaceutical sales revenue - Pharmacies
2010	224.05	77.50
2011	244.33	86.33
2012	274.90	103.78
2013	317.00	117.11
2014	360.30	121.61
2015	451.60	109.71
2016	552.40	89.11
2017	590.84	117.78
2018	580.13	313.47

Analysts Estimates (Million)

Item	Q3 2019 (e)	Q3 2019 (a)	Change‬
Average	23.53	21.17	(10.0 %)

Estimates vs Actual (Million)

Item	Q3 2019 (e)	Q3 2019 (a)	Change
OSOOL AND BAKHEET	21.20	21.17	(0.2) %
AlJazira Capital	21.90	21.17	(3.3) %
SNB Capital	23.00	21.17	(8.0) %
Al Rajhi Capital	28.00	21.17	(24.4) %

Financial Ratios

	Current
Market Cap (M Riyal)	7,776.00
Enterprise Value (EV) (M)	7,774.11
Shares Outstanding ((M))	160.00
EPS ( Riyal) (TTM)	1.79
Book Value (BV) ( Riyal)	11.58
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	27.82
P/E (TTM)	27.19
Price/book	4.20
Return on Average Assets (%) (TTM)	11.1
Return on Average Equity (%) (TTM)	15.9

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Al Hammadi‘s net profit drops 9% in 9M 2019

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Share Price

Al Hammadi Holding (ALHAMMADI)

Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million)

Revenue by Business Segment (Latest) 2019 Q3

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

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Financial Ratios

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Al Hammadi‘s net profit drops 9% in 9M 2019

View other reports

Share Price

Al Hammadi Holding (ALHAMMADI)

Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million) Q3 2019

Revenue by Business Segment (Latest) 2019 Q3

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

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Business Segments (Million)