Emaar the Economic City (Emaar EC) widened net losses by 35.7 percent year-on-year (YoY) to SAR 19 million in Q1 2017, attributed to an increase in depreciation charge, and decrease in other income.
On a sequential basis, the real estate developer swung to losses in Q1 2017, versus net profit of SAR 429 million in Q4 2016, due to lower G&A expenses and higher impairment and zakat provisions.
| Item | Q1 2016 | Q1 2017 | Change |
|---|---|---|---|
| Revenues | 272.33 | 318.23 | 16.9 % |
| Gross Income | 93.16 | 115.70 | 24.2 % |
| Operating Income | (1.86) | (25.44) | (1,265.4 %) |
| Net Income | (17.04) | (17.51) | (2.7 %) |
| Average Shares | 850.00 | 850.00 | - |
| EPS (Riyals) | (0.02) | (0.02) | (2.7 %) |
| Item | Q4 2016 | Q1 2017 | Change |
|---|---|---|---|
| Revenues | 846.74 | 318.23 | (62.4 %) |
| Gross Income | 602.38 | 115.70 | (80.8 %) |
| Operating Income | 436.44 | (25.44) | (105.8 %) |
| Net Income | 454.56 | (17.51) | (103.9 %) |
| Average Shares | 850.00 | 850.00 | - |
| EPS (Riyals) | 0.53 | (0.02) | (103.9 %) |
| Period | Revenues | Change | Gross Income | Change | Net Income | Change | EPS(Riyal) |
|---|---|---|---|---|---|---|---|
| Q1 2008 | - | - | - | - | (19.29) | - | (0.02) |
| Q2 2008 | - | - | - | - | (40.45) | - | (0.05) |
| Q3 2008 | 43.76 | - | (97.32) | - | (181.79) | - | (0.21) |
| Q4 2008 | 57.81 | - | (22.97) | - | (50.51) | - | (0.06) |
| 2008 | 101.57 | - | (120.29) | - | (292.04) | - | (0.34) |
| Q1 2009 | 82.45 | - | 1.77 | - | (62.33) | (223.2 %) | (0.07) |
| Q2 2009 | 83.76 | - | 20.88 | - | (113.12) | (179.7 %) | (0.13) |
| Q3 2009 | 73.78 | 68.6 % | 34.99 | 136.0 % | (63.53) | 65.1 % | (0.07) |
| Q4 2009 | 20.54 | (64.5 %) | 11.85 | 151.6 % | (69.88) | (38.3 %) | (0.08) |
| 2009 | 260.53 | 156.5 % | 69.48 | 157.8 % | (308.85) | (5.8 %) | (0.36) |
| Q1 2010 | 45.23 | (45.1 %) | 5.46 | 209.3 % | (53.47) | 14.2 % | (0.06) |
| Q2 2010 | 16.24 | (80.6 %) | (32.64) | (256.3 %) | (128.40) | (13.5 %) | (0.15) |
| Q3 2010 | 15.28 | (79.3 %) | (22.86) | (165.3 %) | (195.59) | (207.9 %) | (0.23) |
| Q4 2010 | 14.18 | (31.0 %) | (13.69) | (215.5 %) | (206.36) | (195.3 %) | (0.24) |
| 2010 | 90.93 | (65.1 %) | (63.72) | (191.7 %) | (583.81) | (89.0 %) | (0.69) |
| Q1 2011 | 23.77 | (47.4 %) | 13.45 | 146.4 % | (13.58) | 74.6 % | (0.02) |
| Q2 2011 | 228.00 | 1303.8 % | 152.28 | 566.6 % | 87.57 | 168.2 % | 0.10 |
| Q3 2011 | 74.82 | 389.8 % | 70.20 | 407.1 % | 6.18 | 103.2 % | 0.01 |
| Q4 2011 | 81.13 | 472.2 % | 75.69 | 653.1 % | 2.39 | 101.2 % | 0.00 |
| 2011 | 407.72 | 348.4 % | 311.62 | 589.0 % | 82.55 | 114.1 % | 0.10 |
| Q1 2012 | 142.04 | 497.5 % | 121.88 | 806.1 % | 45.17 | 432.6 % | 0.05 |
| Q2 2012 | 216.77 | (4.9 %) | 189.72 | 24.6 % | 92.73 | 5.9 % | 0.11 |
| Q3 2012 | 138.99 | 85.8 % | 133.92 | 90.8 % | 44.53 | 620.5 % | 0.05 |
| Q4 2012 | 47.38 | (41.6 %) | 32.94 | (56.5 %) | 4.30 | 80.2 % | 0.01 |
| 2012 | 545.18 | 33.7 % | 478.45 | 53.5 % | 186.12 | 125.5 % | 0.22 |
| Q1 2013 | 14.50 | (89.8 %) | 8.08 | (93.4 %) | (0.33) | (100.7 %) | 0.00 |
| Q2 2013 | 40.04 | (81.5 %) | 29.39 | (84.5 %) | 1.10 | (98.8 %) | 0.00 |
| Q3 2013 | 125.89 | (9.4 %) | 86.30 | (35.6 %) | 17.96 | (59.7 %) | 0.02 |
| Q4 2013 | 653.03 | 1278.3 % | 580.90 | 1663.8 % | 254.33 | 5811.8 % | 0.30 |
| 2013 | 833.45 | 52.9 % | 704.67 | 47.3 % | 273.06 | 46.7 % | 0.32 |
| Q1 2014 | 165.16 | 1038.8 % | 117.64 | 1356.1 % | 49.91 | 15041.9 % | 0.06 |
| Q2 2014 | 450.74 | 1025.8 % | 287.82 | 879.4 % | 212.82 | 19194.7 % | 0.25 |
| Q3 2014 | 145.45 | 15.5 % | 111.68 | 29.4 % | 47.80 | 166.1 % | 0.06 |
| Q4 2014 | 303.00 | (53.6 %) | 213.00 | (63.3 %) | 69.15 | (72.8 %) | 0.08 |
| 2014 | 1,064.34 | 27.7 % | 727.72 | 3.3 % | 379.68 | 39.0 % | 0.45 |
| Q1 2015 | 229.56 | 39.0 % | 157.48 | 33.9 % | 85.72 | 71.8 % | 0.10 |
| Q2 2015 | 236.68 | (47.5 %) | 147.22 | (48.9 %) | 50.35 | (76.3 %) | 0.06 |
| Q3 2015 | 169.89 | 16.8 % | 85.41 | (23.5 %) | 8.19 | (82.9 %) | 0.01 |
| Q4 2015 | 386.83 | 27.7 % | 176.66 | (17.1 %) | 158.45 | 129.1 % | 0.19 |
| 2015 | 1,022.96 | (3.9 %) | 566.77 | (22.1 %) | 302.72 | (20.3 %) | 0.36 |
| Q1 2016 | 272.33 | 18.6 % | 93.16 | (40.8 %) | (17.04) | (119.9 %) | (0.02) |
| Q2 2016 | 558.98 | 136.2 % | 286.68 | 94.7 % | 239.68 | 376.0 % | 0.28 |
| Q3 2016 | 589.72 | 247.1 % | 191.94 | 124.7 % | 69.65 | 750.4 % | 0.08 |
| Q4 2016 | 846.74 | 118.9 % | 602.38 | 241.0 % | 454.56 | 186.9 % | 0.53 |
| 2016 | 2,267.77 | 121.7 % | 1,174.16 | 107.2 % | 719.68 | 137.7 % | 0.85 |
| Q1 2017 | 318.23 | 16.9 % | 115.70 | 24.2 % | (17.51) | (2.7 %) | (0.02) |
| Period | Revenues | Change | Gross Income | Change | Net Income | Change | EPS(Riyal) |
|---|---|---|---|---|---|---|---|
| 2007 | - | - | - | - | - | - | - |
| 2008 | 101.57 | - | (120.29) | - | (292.04) | - | (0.34) |
| 2009 | 260.53 | 156.5 % | 69.48 | 157.8 % | (308.85) | (5.8 %) | (0.36) |
| 2010 | 90.93 | (65.1 %) | (63.72) | (191.7 %) | (583.81) | (89.0 %) | (0.69) |
| 2011 | 407.72 | 348.4 % | 311.62 | 589.0 % | 82.55 | 114.1 % | 0.10 |
| 2012 | 545.18 | 33.7 % | 478.45 | 53.5 % | 186.12 | 125.5 % | 0.22 |
| 2013 | 833.45 | 52.9 % | 704.67 | 47.3 % | 273.06 | 46.7 % | 0.32 |
| 2014 | 1,064.34 | 27.7 % | 727.72 | 3.3 % | 379.68 | 39.0 % | 0.45 |
| 2015 | 1,022.96 | (3.9 %) | 566.77 | (22.1 %) | 302.72 | (20.3 %) | 0.36 |
| 2016 | 2,267.77 | 121.7 % | 1,174.16 | 107.2 % | 719.68 | 137.7 % | 0.85 |
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| Q1 2008 | - | - | - |
| Q2 2008 | - | - | - |
| Q3 2008 | - | - | - |
| Q4 2008 | (118.44 %) | (368.92 %) | (287.53 %) |
| 2008 | (118.44 %) | (368.92 %) | (287.53 %) |
| Q1 2009 | (64.41 %) | (207.75 %) | (182.10 %) |
| Q2 2009 | (36.47 %) | (155.98 %) | (152.27 %) |
| Q3 2009 | 11.64 % | (92.27 %) | (97.21 %) |
| Q4 2009 | 26.67 % | (102.99 %) | (118.55 %) |
| 2009 | 26.67 % | (102.99 %) | (118.55 %) |
| Q1 2010 | 32.77 % | (112.45 %) | (134.33 %) |
| Q2 2010 | 12.62 % | (164.69 %) | (202.35 %) |
| Q3 2010 | (39.26 %) | (281.46 %) | (350.87 %) |
| Q4 2010 | (70.08 %) | (294.10 %) | (350.86 %) |
| 2010 | (70.08 %) | (294.10 %) | (350.86 %) |
| Q1 2011 | (80.23 %) | (363.63 %) | (438.75 %) |
| Q2 2011 | 45.94 % | (12.36 %) | (31.58 %) |
| Q3 2011 | 65.22 % | 21.29 % | 2.05 % |
| Q4 2011 | 76.43 % | 35.42 % | 13.96 % |
| 2011 | 76.43 % | 35.42 % | 13.96 % |
| Q1 2012 | 79.86 % | 47.49 % | 26.87 % |
| Q2 2012 | 88.87 % | 54.84 % | 31.63 % |
| Q3 2012 | 90.03 % | 55.60 % | 34.75 % |
| Q4 2012 | 87.76 % | 49.86 % | 35.06 % |
| 2012 | 87.76 % | 51.34 % | 36.71 % |
| Q1 2013 | 87.31 % | 39.88 % | 20.79 % |
| Q2 2013 | 84.81 % | 4.64 % | (26.72 %) |
| Q3 2013 | 68.79 % | (11.26 %) | (39.92 %) |
| Q4 2013 | 84.55 % | 61.17 % | 48.21 % |
| 2013 | 84.55 % | 61.17 % | 48.21 % |
| Q1 2014 | 82.74 % | 62.33 % | 51.91 % |
| Q2 2014 | 76.90 % | 62.34 % | 54.90 % |
| Q3 2014 | 77.63 % | 64.55 % | 56.26 % |
| Q4 2014 | 68.60 % | 46.03 % | 35.67 % |
| 2014 | 68.37 % | 46.03 % | 35.67 % |
| Q1 2015 | 68.22 % | 47.40 % | 37.19 % |
| Q2 2015 | 68.81 % | 42.24 % | 29.35 % |
| Q3 2015 | 64.22 % | 34.85 % | 24.37 % |
| Q4 2015 | 55.41 % | 33.23 % | 22.90 % |
| 2015 | 55.41 % | 33.23 % | 22.90 % |
| Q1 2016 | 47.15 % | 22.83 % | 11.85 % |
| Q2 2016 | 46.25 % | 23.19 % | 15.02 % |
| Q3 2016 | 41.40 % | 22.45 % | 14.93 % |
| Q4 2016 | 51.78 % | 38.04 % | 27.30 % |
| 2016 | 51.78 % | 36.70 % | 26.10 % |
| Q1 2017 | 51.72 % | 37.13 % | 26.78 % |
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| 2007 | - | - | - |
| 2008 | (118.44 %) | (368.92 %) | (287.53 %) |
| 2009 | 26.67 % | (102.99 %) | (118.55 %) |
| 2010 | (70.08 %) | (294.10 %) | (350.86 %) |
| 2011 | 76.43 % | 35.42 % | 13.96 % |
| 2012 | 87.76 % | 51.34 % | 36.71 % |
| 2013 | 84.55 % | 61.17 % | 48.21 % |
| 2014 | 68.37 % | 46.03 % | 35.67 % |
| 2015 | 55.41 % | 33.23 % | 22.90 % |
| 2016 | 51.78 % | 36.70 % | 26.10 % |
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| Q1 2008 | - | - | - |
| Q2 2008 | - | - | - |
| Q3 2008 | (222.39 %) | (446.21 %) | (415.40 %) |
| Q4 2008 | (39.74 %) | (104.40 %) | (87.39 %) |
| Q1 2009 | 2.14 % | (70.86 %) | (75.60 %) |
| Q2 2009 | 24.92 % | (123.72 %) | (135.05 %) |
| Q3 2009 | 47.43 % | (70.98 %) | (86.10 %) |
| Q4 2009 | 57.67 % | (262.34 %) | (340.19 %) |
| Q1 2010 | 12.07 % | (91.15 %) | (118.20 %) |
| Q2 2010 | (200.95 %) | (671.67 %) | (790.54 %) |
| Q3 2010 | (149.65 %) | (455.82 %) | (586.72 %) |
| Q4 2010 | (96.52 %) | (334.82 %) | (335.30 %) |
| Q1 2011 | 56.59 % | (111.11 %) | (165.00 %) |
| Q2 2011 | 66.79 % | 47.69 % | 38.41 % |
| Q3 2011 | 93.83 % | 50.39 % | 8.26 % |
| Q4 2011 | 93.29 % | 30.06 % | 2.94 % |
| Q1 2012 | 85.81 % | 55.59 % | 31.80 % |
| Q2 2012 | 87.52 % | 65.15 % | 50.32 % |
| Q3 2012 | 96.35 % | 55.61 % | 32.04 % |
| Q4 2012 | 69.52 % | (54.15 %) | (16.07 %) |
| Q1 2013 | 55.71 % | (181.36 %) | (407.95 %) |
| Q2 2013 | 73.40 % | (35.33 %) | (105.21 %) |
| Q3 2013 | 68.55 % | 32.14 % | 14.27 % |
| Q4 2013 | 88.95 % | 78.07 % | 74.29 % |
| Q1 2014 | 71.23 % | 46.78 % | 30.22 % |
| Q2 2014 | 63.86 % | 53.70 % | 47.22 % |
| Q3 2014 | 76.78 % | 57.71 % | 32.87 % |
| Q4 2014 | 70.30 % | 28.61 % | 22.82 % |
| Q1 2015 | 68.60 % | 53.33 % | 39.20 % |
| Q2 2015 | 62.20 % | 39.41 % | 25.99 % |
| Q3 2015 | 50.28 % | 14.67 % | 4.82 % |
| Q4 2015 | 45.67 % | 25.67 % | 19.28 % |
| Q1 2016 | 34.21 % | 9.49 % | (6.62 %) |
| Q2 2016 | 51.29 % | 30.73 % | 25.70 % |
| Q3 2016 | 32.55 % | 18.47 % | 11.81 % |
| Q4 2016 | 71.14 % | 65.66 % | 50.05 % |
| Q1 2017 | 36.36 % | 7.06 % | (5.50 %) |
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| Q1 2008 | 850.00 | - | - | 9.96 |
| Q2 2008 | 850.00 | - | - | 9.91 |
| Q3 2008 | 850.00 | - | - | 9.70 |
| Q4 2008 | 850.00 | (0.34) | (0.34) | 9.64 |
| Q1 2009 | 850.00 | (0.39) | (0.39) | 9.56 |
| Q2 2009 | 850.00 | (0.48) | (0.48) | 9.43 |
| Q3 2009 | 850.00 | (0.34) | (0.34) | 9.35 |
| Q4 2009 | 850.00 | (0.36) | (0.36) | 9.27 |
| Q1 2010 | 850.00 | (0.35) | (0.35) | 9.21 |
| Q2 2010 | 850.00 | (0.37) | (0.37) | 9.06 |
| Q3 2010 | 850.00 | (0.53) | (0.40) | 8.83 |
| Q4 2010 | 850.00 | (0.69) | (0.38) | 8.59 |
| Q1 2011 | 850.00 | (0.64) | (0.36) | 8.57 |
| Q2 2011 | 850.00 | (0.39) | (0.10) | 8.67 |
| Q3 2011 | 850.00 | (0.15) | 0.01 | 8.68 |
| Q4 2011 | 850.00 | 0.10 | 0.07 | 8.68 |
| Q1 2012 | 850.00 | 0.17 | 0.17 | 8.74 |
| Q2 2012 | 850.00 | 0.17 | 0.19 | 8.85 |
| Q3 2012 | 850.00 | 0.22 | 0.24 | 8.90 |
| Q4 2012 | 850.00 | 0.22 | 0.22 | 8.90 |
| Q1 2013 | 850.00 | 0.17 | 0.10 | 8.90 |
| Q2 2013 | 850.00 | 0.06 | (0.08) | 8.90 |
| Q3 2013 | 850.00 | 0.03 | (0.11) | 8.92 |
| Q4 2013 | 850.00 | 0.32 | 0.47 | 9.22 |
| Q1 2014 | 850.00 | 0.38 | 0.60 | 9.28 |
| Q2 2014 | 850.00 | 0.63 | 0.90 | 9.53 |
| Q3 2014 | 850.00 | 0.66 | 0.94 | 9.58 |
| Q4 2014 | 850.00 | 0.45 | 0.45 | 9.67 |
| Q1 2015 | 850.00 | 0.49 | 0.49 | 9.77 |
| Q2 2015 | 850.00 | 0.30 | 0.32 | 9.83 |
| Q3 2015 | 850.00 | 0.25 | 0.27 | 9.84 |
| Q4 2015 | 850.00 | 0.36 | 0.28 | 10.02 |
| Q1 2016 | 850.00 | 0.24 | 0.15 | 8.31 |
| Q2 2016 | 850.00 | 0.46 | 0.25 | 8.59 |
| Q3 2016 | 850.00 | 0.53 | 0.32 | 8.67 |
| Q4 2016 | 850.00 | 0.88 | 0.73 | 9.17 |
| Q1 2017 | 850.00 | 0.88 | 0.73 | 9.15 |
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| 2007 | - | - | - | - |
| 2008 | 850.00 | (0.34) | (0.34) | 9.64 |
| 2009 | 850.00 | (0.36) | (0.36) | 9.27 |
| 2010 | 850.00 | (0.69) | (0.38) | 8.59 |
| 2011 | 850.00 | 0.10 | 0.07 | 8.68 |
| 2012 | 850.00 | 0.22 | 0.24 | 8.90 |
| 2013 | 850.00 | 0.32 | 0.47 | 9.22 |
| 2014 | 850.00 | 0.45 | 0.45 | 9.67 |
| 2015 | 850.00 | 0.36 | 0.28 | 10.02 |
| 2016 | 850.00 | 0.85 | 0.70 | 9.17 |
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| Q1 2008 | - | - | 2.41 |
| Q2 2008 | - | - | 3.03 |
| Q3 2008 | - | - | 2.01 |
| Q4 2008 | NEG | NEG | 1.24 |
| Q1 2009 | NEG | NEG | 1.15 |
| Q2 2009 | NEG | NEG | 1.48 |
| Q3 2009 | NEG | NEG | 1.49 |
| Q4 2009 | NEG | NEG | 1.38 |
| Q1 2010 | NEG | NEG | 1.43 |
| Q2 2010 | NEG | NEG | 1.26 |
| Q3 2010 | NEG | NEG | 1.19 |
| Q4 2010 | NEG | NEG | 1.10 |
| Q1 2011 | NEG | NEG | 1.07 |
| Q2 2011 | NEG | NEG | 1.21 |
| Q3 2011 | NEG | More than 50 | 0.99 |
| Q4 2011 | More than 50 | More than 50 | 1.13 |
| Q1 2012 | More than 50 | More than 50 | 1.99 |
| Q2 2012 | More than 50 | More than 50 | 1.35 |
| Q3 2012 | More than 50 | More than 50 | 1.35 |
| Q4 2012 | More than 50 | 49.19 | 1.24 |
| Q1 2013 | More than 50 | More than 50 | 1.42 |
| Q2 2013 | More than 50 | NEG | 1.49 |
| Q3 2013 | More than 50 | NEG | 1.73 |
| Q4 2013 | More than 50 | 37.50 | 1.92 |
| Q1 2014 | More than 50 | 38.15 | 2.47 |
| Q2 2014 | 32.04 | 22.38 | 2.12 |
| Q3 2014 | 34.94 | 24.81 | 2.42 |
| Q4 2014 | 35.48 | 35.48 | 1.64 |
| Q1 2015 | 35.97 | 35.60 | 1.80 |
| Q2 2015 | More than 50 | More than 50 | 2.02 |
| Q3 2015 | More than 50 | More than 50 | 1.47 |
| Q4 2015 | 48.43 | More than 50 | 1.72 |
| Q1 2016 | More than 50 | More than 50 | 2.24 |
| Q2 2016 | 42.06 | More than 50 | 2.24 |
| Q3 2016 | 30.14 | More than 50 | 1.84 |
| Q4 2016 | 26.03 | 31.40 | 2.49 |
| Q1 2017 | 25.85 | 31.14 | 2.48 |
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| 2007 | - | - | - |
| 2008 | NEG | NEG | 1.24 |
| 2009 | NEG | NEG | 1.38 |
| 2010 | NEG | NEG | 1.10 |
| 2011 | More than 50 | More than 50 | 1.13 |
| 2012 | More than 50 | 46.99 | 1.24 |
| 2013 | More than 50 | 37.50 | 1.92 |
| 2014 | 35.48 | 35.48 | 1.64 |
| 2015 | 48.43 | More than 50 | 1.72 |
| 2016 | 27.02 | 32.84 | 2.49 |
Q1 2017
2017
| Period | Hospitality and Leisure | Residential business | Industrial development | Other activities |
|---|---|---|---|---|
| Q1 2016 | 16.22 | 139.39 | 100.03 | 16.69 |
| Q2 2016 | 13.28 | 336.39 | 185.24 | 24.07 |
| Q3 2016 | 12.02 | 480.98 | 76.52 | 20.19 |
| Q4 2016 | 62.88 | 394.77 | 355.07 | 34.03 |
| Q1 2017 | 16.71 | 189.07 | 96.32 | 16.13 |
| Period | Hospitality and Leisure | Residential business | Industrial development | Other activities |
|---|---|---|---|---|
| 2016 | 104.40 | 1,351.53 | 716.87 | 94.98 |
| Current | |
| Market Cap (M Riyal) | 7,761.05 |
| Enterprise Value (EV) (M) | 14,481.49 |
| Shares Outstanding ((M)) | 1,133.00 |
| EPS ( Riyal) (TTM) | (0.38) |
| Book Value (BV) ( Riyal) | 5.34 |
| Par Value ( Riyal) | 10.00 |
| Adjusted P/E (Last12) | Neg |
| P/E (TTM) | NEG |
| Price/book | 1.28 |
| Return on Average Assets (%) (TTM) | (2.83 ) |
| Return on Average Equity (%) (TTM) | (6.92 ) |
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