QACO's H1 profit slumps 99%

07/08/2017 Argaam Exclusive

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Share Price

Al Gassim Investment Holding Co. (GACO)

Qassim Investment Holding Co. (QACO) reported a net profit of SAR 913,163 for the first half of 2017, a 99 percent year-on-year (YoY) plunge due to decline in capital gains.

Financials (M)

Item	6m 2016	6m 2017	Change‬
Revenues	13.65	9.20	(32.6 %)
Gross Income	3.89	4.95	27.3 %
Operating Income	(0.63)	1.40	323.3 %
Net Income	98.34	0.91	(99.1 %)
Average Shares	30.00	30.00	-
EPS (Riyals)	3.28	0.03	(99.1 %)

The second-quarter net profit fell by 76.7 percent YoY to SAR 706,980, mainly due to lower capital gains and revenue.

Compared to the previous quarter, the Q2 net profit more than trebled from SAR 206,183, due to decline in general and administrative expenses, lower zakat provisions, and investment profits.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2016	Q2 2017	Change‬
Revenues	5.57	4.37	(21.6 %)
Gross Income	3.32	2.48	(25.2 %)
Operating Income	1.33	0.58	(56.5 %)
Net Income	3.03	0.71	(76.7 %)
Average Shares	30.00	30.00	-
EPS (Riyals)	0.10	0.02	(76.7 %)

Item	Q1 2017	Q2 2017	Change‬
Revenues	4.83	4.37	(9.6 %)
Gross Income	2.46	2.48	0.7 %
Operating Income	0.82	0.58	(29.7 %)
Net Income	0.21	0.71	243.2 %
Average Shares	30.00	30.00	-
EPS (Riyals)	0.01	0.02	243.2 %

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
Q1 2008	27.42	53.2 %	0.90	(30.2 %)	0.55	127.7 %	0.02
Q2 2008	11.24	43.0 %	0.64	420.0 %	(0.36)	85.9 %	(0.01)
Q3 2008	30.27	146.7 %	3.82	35.5 %	1.33	34.5 %	0.04
Q4 2008	19.48	73.9 %	0.37	232.1 %	(1.22)	18.0 %	(0.04)
2008	88.41	79.6 %	5.73	57.9 %	0.29	110.2 %	0.01
Q1 2009	26.56	(3.1 %)	0.55	(38.9 %)	0.10	(81.1 %)	0.00
Q2 2009	14.47	28.7 %	(1.74)	(371.9 %)	(3.05)	(737.9 %)	(0.10)
Q3 2009	22.95	(24.2 %)	0.15	(96.1 %)	(1.79)	(234.6 %)	(0.06)
Q4 2009	20.30	4.2 %	(0.58)	(256.8 %)	(2.22)	(81.4 %)	(0.07)
2009	84.28	(4.7 %)	(1.62)	(128.3 %)	(6.95)	(2489.0 %)	(0.23)
Q1 2010	14.24	(46.4 %)	(2.40)	(536.4 %)	1.33	1178.8 %	0.04
Q2 2010	16.09	11.2 %	(8.13)	(367.2 %)	(10.29)	(237.5 %)	(0.34)
Q3 2010	21.18	(7.7 %)	(0.20)	(233.3 %)	(2.54)	(41.9 %)	(0.08)
Q4 2010	29.38	44.7 %	(2.04)	(251.7 %)	(6.16)	(177.4 %)	(0.21)
2010	80.89	(4.0 %)	(12.77)	(688.3 %)	(17.66)	(154.0 %)	(0.59)
Q1 2011	13.02	(8.6 %)	(1.72)	28.3 %	(1.87)	(240.8 %)	(0.06)
Q2 2011	17.64	9.6 %	1.21	114.9 %	(1.70)	83.4 %	(0.06)
Q3 2011	21.14	(0.2 %)	(3.44)	(1,620.0 %)	(5.89)	(132.5 %)	(0.20)
Q4 2011	11.46	(61.0 %)	(3.69)	(80.9 %)	(6.59)	(7.1 %)	(0.22)
2011	63.26	(21.8 %)	(7.64)	40.2 %	(16.06)	9.0 %	(0.54)
Q1 2012	12.02	(7.7 %)	0.72	141.9 %	7.25	487.0 %	0.24
Q2 2012	21.61	22.5 %	(1.15)	(195.0 %)	(0.14)	91.6 %	0.00
Q3 2012	22.10	4.5 %	(0.94)	72.7 %	(2.32)	60.7 %	(0.08)
Q4 2012	16.00	39.6 %	(5.45)	(47.7 %)	(12.31)	(86.7 %)	(0.41)
2012	71.73	13.4 %	(6.82)	10.7 %	(7.52)	53.2 %	(0.25)
Q1 2013	19.62	63.2 %	(0.90)	(225.0 %)	(3.17)	(143.8 %)	(0.11)
Q2 2013	20.27	(6.2 %)	3.24	381.7 %	0.05	132.9 %	0.00
Q3 2013	18.97	(14.2 %)	(0.71)	24.5 %	(2.90)	(25.4 %)	(0.10)
Q4 2013	11.13	(30.4 %)	(3.02)	44.6 %	(6.25)	49.2 %	(0.21)
2013	69.99	(2.4 %)	(1.39)	79.6 %	(12.28)	(63.3 %)	(0.41)
Q1 2014	8.94	(54.4 %)	(3.26)	(262.6 %)	(7.34)	(131.4 %)	(0.24)
Q2 2014	20.06	(1.1 %)	3.00	(7.4 %)	2.14	4446.8 %	0.07
Q3 2014	14.94	(21.2 %)	0.11	115.9 %	(1.68)	42.3 %	(0.06)
Q4 2014	9.29	(16.5 %)	(1.19)	60.5 %	(5.04)	19.4 %	(0.17)
2014	53.22	(24.0 %)	(1.39)	0.2 %	(15.04)	(22.5 %)	(0.50)
Q1 2015	8.14	(8.9 %)	(0.78)	76.1 %	(2.98)	59.5 %	(0.10)
Q2 2015	14.13	(29.6 %)	2.23	(25.8 %)	0.47	(78.2 %)	0.02
Q3 2015	12.83	(14.1 %)	(1.76)	(1660.2 %)	(4.18)	(149.6 %)	(0.14)
Q4 2015	11.44	23.2 %	(0.97)	18.8 %	7.71	253.0 %	0.26
2015	46.54	(12.5 %)	(1.28)	7.4 %	1.02	106.7 %	0.03
Q1 2016	8.08	(0.7 %)	0.57	173.2 %	95.31	3301.5 %	3.18
Q2 2016	5.57	(60.6 %)	3.32	49.0 %	3.03	551.6 %	0.10
Q3 2016	4.14	(67.7 %)	2.94	266.6 %	1.40	133.4 %	0.05
Q4 2016	4.34	(62.0 %)	2.85	394.2 %	59.07	666.2 %	1.97
2016	22.14	(52.4 %)	9.67	853.3 %	58.56	5669.5 %	1.95
Q1 2017	4.83	(40.2 %)	2.46	332.1 %	0.21	(99.8 %)	0.01
Q2 2017	4.37	(21.6 %)	2.48	(25.2 %)	0.71	(76.7 %)	0.02

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
2007	49.23	(25.0 %)	3.63	(59.2 %)	(2.84)	94.8 %	(0.09)
2008	88.41	79.6 %	5.73	57.9 %	0.29	110.2 %	0.01
2009	84.28	(4.7 %)	(1.62)	(128.3 %)	(6.95)	(2489.0 %)	(0.23)
2010	80.89	(4.0 %)	(12.77)	(688.3 %)	(17.66)	(154.0 %)	(0.59)
2011	63.26	(21.8 %)	(7.64)	40.2 %	(16.06)	9.0 %	(0.54)
2012	71.73	13.4 %	(6.82)	10.7 %	(7.52)	53.2 %	(0.25)
2013	69.99	(2.4 %)	(1.39)	79.6 %	(12.28)	(63.3 %)	(0.41)
2014	53.22	(24.0 %)	(1.39)	0.2 %	(15.04)	(22.5 %)	(0.50)
2015	46.54	(12.5 %)	(1.28)	7.4 %	1.02	106.7 %	0.03
2016	22.14	(52.4 %)	9.67	853.3 %	58.56	5669.5 %	1.95

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
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 %
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 %)
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 %)
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 %)
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 %)
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 %)
2013	(1.99 %)	11.04 %	(17.39 %)
Q1 2014	(6.33 %)	16.52 %	(27.55 %)
Q2 2014	(6.76 %)	25.77 %	(24.11 %)
Q3 2014	(5.76 %)	10.24 %	(23.65 %)
Q4 2014	(2.52 %)	17.02 %	(22.40 %)
2014	(2.61 %)	11.28 %	(28.26 %)
Q1 2015	2.18 %	24.87 %	(14.41 %)
Q2 2015	0.79 %	26.29 %	(19.84 %)
Q3 2015	(3.40 %)	22.35 %	(26.44 %)
Q4 2015	(2.76 %)	16.99 %	(27.48 %)
2015	(2.76 %)	16.99 %	(27.47 %)
Q1 2016	0.14 %	13.75 %	(28.08 %)
Q2 2016	3.05 %	10.46 %	(32.48 %)
Q3 2016	20.03 %	18.22 %	(23.05 %)
Q4 2016	43.69 %	26.23 %	263.65 %
2016	43.69 %	26.23 %	(189.20 %)
Q1 2017	61.23 %	35.02 %	327.27 %
Q2 2017	60.66 %	30.70 %	346.70 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2007	7.37 %	24.68 %	(5.77 %)
2008	6.48 %	14.89 %	0.33 %
2009	(1.92 %)	7.57 %	(8.25 %)
2010	(15.79 %)	(9.22 %)	(21.83 %)
2011	(12.08 %)	(2.58 %)	(25.39 %)
2012	(9.51 %)	(10.79 %)	(37.87 %)
2013	(1.99 %)	11.04 %	(17.39 %)
2014	(2.61 %)	11.28 %	(28.26 %)
2015	(2.76 %)	16.99 %	(27.47 %)
2016	43.69 %	26.23 %	(189.20 %)

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2008	3.28 %	(0.11 %)	2.01 %
Q2 2008	5.69 %	50.53 %	(3.24 %)
Q3 2008	12.62 %	16.82 %	4.39 %
Q4 2008	1.90 %	12.43 %	(6.28 %)
Q1 2009	2.07 %	(2.37 %)	0.39 %
Q2 2009	(12.02 %)	26.40 %	(21.08 %)
Q3 2009	0.65 %	8.58 %	(7.79 %)
Q4 2009	(2.86 %)	6.00 %	(10.94 %)
Q1 2010	(16.85 %)	(25.07 %)	9.34 %
Q2 2010	(50.53 %)	(17.53 %)	(63.98 %)
Q3 2010	(0.94 %)	6.47 %	(11.97 %)
Q4 2010	(6.94 %)	(8.30 %)	(20.96 %)
Q1 2011	(13.21 %)	(28.03 %)	(14.38 %)
Q2 2011	6.86 %	35.94 %	(9.66 %)
Q3 2011	(16.27 %)	(10.03 %)	(27.88 %)
Q4 2011	(32.20 %)	(19.20 %)	(57.53 %)
Q1 2012	5.99 %	(48.04 %)	96.21 %
Q2 2012	(5.32 %)	16.77 %	(0.75 %)
Q3 2012	(4.25 %)	2.59 %	(20.75 %)
Q4 2012	(34.06 %)	(38.53 %)	(212.40 %)
Q1 2013	(4.59 %)	(19.80 %)	(16.17 %)
Q2 2013	15.98 %	1.06 %	0.23 %
Q3 2013	(3.74 %)	67.11 %	(15.31 %)
Q4 2013	(27.13 %)	(11.96 %)	(55.18 %)
Q1 2014	(36.49 %)	(20.32 %)	(82.11 %)
Q2 2014	14.96 %	28.15 %	10.65 %
Q3 2014	0.76 %	21.03 %	(11.22 %)
Q4 2014	(12.83 %)	22.50 %	(54.26 %)
Q1 2015	(9.57 %)	26.54 %	(36.56 %)
Q2 2015	15.76 %	34.20 %	3.29 %
Q3 2015	(13.74 %)	6.52 %	(32.61 %)
Q4 2015	(8.46 %)	0.68 %	(53.25 %)
Q1 2016	7.05 %	7.96 %	(40.13 %)
Q2 2016	59.54 %	43.26 %	21.54 %
Q3 2016	70.96 %	53.03 %	33.75 %
Q4 2016	65.56 %	12.87 %	1,358.38 %
Q1 2017	50.96 %	30.00 %	4.26 %
Q2 2017	56.75 %	28.03 %	16.18 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
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
Q2 2014	30.00	(0.48)	(0.48)	11.33
Q3 2014	30.00	(0.44)	(0.43)	11.27
Q4 2014	30.00	(0.40)	(0.40)	11.00
Q1 2015	30.00	(0.25)	(0.25)	10.90
Q2 2015	30.00	(0.31)	(0.31)	10.92
Q3 2015	30.00	(0.39)	(0.39)	10.78
Q4 2015	30.00	0.03	(0.43)	11.03
Q1 2016	30.00	3.31	(0.44)	11.86
Q2 2016	30.00	3.40	(0.41)	11.90
Q3 2016	30.00	3.58	(0.22)	11.91
Q4 2016	30.00	5.29	1.95	10.72
Q1 2017	30.00	2.12	2.06	10.72
Q2 2017	30.00	2.05	2.04	10.74

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2007	30.00	(0.09)	(0.09)	13.47
2008	30.00	0.01	0.01	13.52
2009	30.00	(0.23)	(0.23)	13.28
2010	30.00	(0.59)	(0.59)	12.70
2011	30.00	(0.54)	(0.54)	12.16
2012	30.00	(0.25)	(0.91)	11.92
2013	30.00	(0.41)	(0.41)	11.50
2014	30.00	(0.50)	(0.50)	11.00
2015	30.00	0.03	(0.43)	11.03
2016	30.00	1.95	(1.40)	10.72

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2008	NEG	NEG	1.98
Q2 2008	NEG	NEG	1.73
Q3 2008	More than 50	More than 50	1.18
Q4 2008	More than 50	More than 50	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 50	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
Q2 2014	NEG	NEG	2.28
Q3 2014	NEG	NEG	2.55
Q4 2014	NEG	NEG	1.76
Q1 2015	NEG	NEG	2.11
Q2 2015	NEG	NEG	2.25
Q3 2015	NEG	NEG	1.81
Q4 2015	More than 50	NEG	2.03
Q1 2016	5.05	NEG	1.41
Q2 2016	4.88	NEG	1.39
Q3 2016	3.72	NEG	1.12
Q4 2016	2.95	8.02	1.46
Q1 2017	6.53	6.73	1.29
Q2 2017	6.43	6.43	1.22

Period	P/E	Adjusted P/E	Price/book
2007	NEG	NEG	2.81
2008	More than 50	More than 50	0.94
2009	NEG	NEG	1.29
2010	NEG	NEG	1.19
2011	NEG	NEG	3.06
2012	NEG	NEG	1.97
2013	NEG	NEG	2.62
2014	NEG	NEG	1.76
2015	More than 50	NEG	2.03
2016	7.99	NEG	1.46

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	-	-
Q2 2014	8.49	4.72	2.50	4.35	-	-
Q3 2014	7.03	4.23	2.50	1.18	-	-
Q4 2014	2.69	2.34	2.50	1.75	-	-
Q1 2015	2.33	0.74	2.50	2.57	-	-
Q2 2015	5.54	3.33	2.50	2.76	-	-
Q3 2015	7.24	2.10	2.50	0.99	-	-
Q4 2015	1.47	5.23	3.89	0.72	-	-
Q1 2016	3.45	0.48	2.50	1.72	-	-
Q2 2016	1.24	-	2.50	2.04	-	-
Q3 2016	1.60	-	1.60	0.65	-	-
Q4 2016	1.39	-	1.21	0.84	-	-
Q1 2017	1.30	-	1.72	1.81	-	-
Q2 2017	1.29	-	1.72	1.35	-	-

Period	Agri Sector- Shri Project	Agri Sector- Jouf Project	Poultry Project	Dates Factory	Dairy sector	Agricultural Activity
2007	-	-	-	12.99	1.50	34.74
2008	-	-	-	10.70	1.50	76.21
2009	29.72	25.57	17.22	10.28	1.50	-
2010	25.69	25.92	19.05	10.23	-	-
2011	17.64	17.77	17.04	10.80	-	-
2012	38.20	21.20	7.42	4.91	-	-
2013	37.65	12.57	10.00	9.77	-	-
2014	21.81	11.99	10.00	9.41	-	-
2015	16.71	11.41	11.39	7.04	-	-
2016	7.68	0.48	8.71	5.26	-	-

Financial Ratios

	Current
Market Cap (M Riyal)	511.20
Enterprise Value (EV) (M)	467.14
Shares Outstanding ((M))	30.00
EPS ( Riyal) (TTM)	(0.30)
Book Value (BV) ( Riyal)	9.82
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	Neg
P/E (TTM)	NEG
Price/book	1.74
Return on Average Assets (%) (TTM)	(2.08 )
Return on Average Equity (%) (TTM)	(3.00 )

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Search Result

QACO's H1 profit slumps 99%

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Share Price

Al Gassim Investment Holding Co. (GACO)

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) 2017 Q2

Financial Ratios

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QACO's H1 profit slumps 99%

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Share Price

Al Gassim Investment Holding Co. (GACO)

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) Q2 2017

Revenue by Business Segment (Latest) 2017 Q2

Financial Ratios

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Business Segments (Million)