Fawaz Alhokair swings to net profit of SAR 45.7 mln in Q1 2021/22

19/08/2021 Argaam Exclusive

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Share Price

8.49
(0.18) (2.08 %)

Fawaz Abdulaziz Alhokair Co. (CENOMI RETAIL)

Fawaz Abdulaziz Alhokair Co. turned to a consolidated net profit after Zakat and tax of SAR 45.7 million for the first quarter ended June 30, 2021, against a net loss of SAR 535.6 million in the year-earlier period.

 

The leading franchise retailer in Saudi Arabia reported a threefold increase year-on-year (YoY), or SAR 1.135 billion, in Q1 2022 revenue, compared to the year-ago period.

Gross profit stood at SAR 332.6 million for Q1 2022 versus a gross loss of SAR 242.7 million a year earlier.

 

Depreciation and amortization expenses decreased by 16.1%, or SAR 12.5 million, YoY in Q1 2022. Net finance costs dropped 32.8%, or SAR 35.2 million, in Q1 2022.

 

Accumulated losses reached SAR 990.9 million, or 47.2% of capital, by the end of the first quarter.



Current Quarter Comparison (M)

Compared With The
Item Q1 2020 Q1 2021 Change‬
Revenues 564.95 1,700.71 201.0 %
Gross Income (136.73) 332.60 343.3 %
Operating Income (305.99) 124.55 140.7 %
Net Income (525.43) 46.88 108.9 %
Average Shares 114.77 114.77 -
EPS (Riyals) (4.58) 0.41 108.9 %


Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Riyal)
Q1 2012 865.28 19.4 % 224.13 (33.1 %) 120.90 48.0 % 1.05
Q2 2012 1,383.29 37.2 % 404.35 199.6 % 252.44 25.0 % 2.20
Q3 2012 1,172.92 54.7 % 261.56 58.2 % 110.50 44.5 % 0.96
Q4 2012 1,237.05 74.0 % 240.33 55.1 % 135.86 55.6 % 1.18
Q1 2013 1,258.32 45.4 % 339.66 51.5 % 165.18 36.6 % 1.44
Q2 2013 1,569.70 13.5 % 452.91 12.0 % 282.09 11.7 % 2.46
Q3 2013 1,297.24 10.6 % 322.90 23.5 % 133.32 20.7 % 1.16
Q4 2013 1,357.14 9.7 % 282.50 17.5 % 190.78 40.4 % 1.66
Q1 2014 1,664.57 32.3 % 441.75 30.1 % 191.27 15.8 % 1.67
Q2 2014 2,071.64 32.0 % 574.47 26.8 % 303.74 7.7 % 2.65
Q3 2014 1,548.51 19.4 % 362.94 12.4 % 106.20 (20.3 %) 0.93
Q4 2014 1,613.95 18.9 % 408.02 44.4 % 201.74 5.7 % 1.76
Q1 2015 1,870.41 12.4 % 512.96 16.1 % 210.80 10.2 % 1.84
Q2 2015 2,102.21 1.5 % 618.82 7.7 % 310.67 2.3 % 2.71
Q3 2015 1,454.96 (6.0 %) 394.62 8.7 % 91.17 (14.1 %) 0.79
Q4 2015 1,515.98 (6.1 %) 239.39 (41.3 %) 3.17 (98.4 %) 0.03
Q1 2016 2,189.93 17.1 % 568.80 10.9 % 223.19 5.9 % 1.94
Q2 2016 1,665.26 (20.8 %) 315.61 (49.0 %) 66.82 (78.5 %) 0.58
Q3 2016 1,430.49 (1.7 %) 311.56 (21.0 %) 49.26 (46.0 %) 0.43
Q4 2016 1,405.98 (7.3 %) 321.10 34.1 % 86.09 2620.1 % 0.75
Q1 2017 2,069.94 (5.5 %) 550.46 (3.2 %) 232.41 4.1 % 2.03
Q2 2017 1,503.55 (9.7 %) 300.12 (4.9 %) 6.84 (89.8 %) 0.06
Q3 2017 1,349.77 (5.6 %) 318.71 2.3 % 48.69 (1.2 %) 0.42
Q4 2017 1,193.26 (15.1 %) 45.34 (85.9 %) (184.45) (314.3 %) (1.61)
Q1 2018 1,845.73 (10.8 %) 523.34 (4.9 %) 249.19 7.2 % 2.17
Q2 2018 1,273.97 (15.3 %) 249.91 (16.7 %) 10.03 46.6 % 0.09
Q3 2018 1,233.53 (8.6 %) 276.69 (13.2 %) 26.53 (45.5 %) 0.23
Q4 2018 1,072.57 (10.1 %) 34.57 (23.8 %) (141.00) 23.6 % (1.23)
Q1 2019 1,732.40 (6.1 %) 507.52 (3.0 %) 224.05 (10.1 %) 1.95
Q2 2019 1,234.59 (3.1 %) 183.28 (26.7 %) (27.22) (371.4 %) (0.24)
Q3 2019 1,289.78 4.6 % 258.24 (6.7 %) 34.47 30.0 % 0.30
Q4 2019 1,085.03 1.2 % 46.84 35.5 % (887.56) (529.5 %) (7.73)
Q1 2020 564.95 (67.4 %) (136.73) (126.9 %) (525.43) (334.5 %) (4.58)
Q2 2020 1,185.60 (4.0 %) 143.36 (21.8 %) (98.79) (263.0 %) (0.86)
Q3 2020 1,349.71 4.6 % 281.45 9.0 % (128.56) (472.9 %) (1.12)
Q4 2020 1,132.26 4.4 % (270.38) (677.3 %) (337.87) 61.9 % (2.94)
Q1 2021 1,700.71 201.0 % 332.60 343.3 % 46.88 108.9 % 0.41

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2012 20.32 % 17.17 % 14.55 %
Q2 2012 25.52 % 17.58 % 14.45 %
Q3 2012 25.29 % 17.06 % 13.82 %
Q4 2012 24.26 % 16.26 % 13.30 %
Q1 2013 24.66 % 16.64 % 13.14 %
Q2 2013 24.71 % 16.58 % 13.24 %
Q3 2013 25.28 % 16.90 % 13.36 %
Q4 2013 25.50 % 17.25 % 14.07 %
Q1 2014 25.47 % 17.04 % 13.54 %
Q2 2014 25.38 % 16.13 % 12.82 %
Q3 2014 25.02 % 15.50 % 11.92 %
Q4 2014 25.91 % 16.45 % 11.64 %
Q1 2015 26.16 % 16.89 % 11.85 %
Q2 2015 26.67 % 18.17 % 12.32 %
Q3 2015 27.47 % 18.99 % 12.75 %
Q4 2015 25.43 % 17.09 % 10.85 %
Q1 2016 25.08 % 17.13 % 11.07 %
Q2 2016 22.24 % 14.15 % 7.76 %
Q3 2016 21.10 % 13.08 % 6.68 %
Q4 2016 22.67 % 13.51 % 7.22 %
Q1 2017 22.81 % 13.40 % 6.61 %
Q2 2017 23.14 % 13.41 % 6.48 %
Q3 2017 23.55 % 13.55 % 6.56 %
Q4 2017 19.86 % 10.13 % 2.36 %
Q1 2018 20.15 % 10.52 % 2.74 %
Q2 2018 20.08 % 10.35 % 2.18 %
Q3 2018 19.75 % 10.08 % 1.35 %
Q4 2018 19.99 % 11.53 % 2.21 %
Q1 2019 20.12 % 15.28 % 1.89 %
Q2 2019 19.00 % 18.25 % 1.25 %
Q3 2019 18.46 % 21.50 % (0.75 %)
Q4 2019 18.64 % 22.90 % (3.91 %)
Q1 2020 8.42 % 13.91 % (21.08 %)
Q2 2020 7.56 % 11.77 % (23.95 %)
Q3 2020 8.00 % 11.49 % (21.57 %)
Q4 2020 0.42 % 4.01 % (18.21 %)
Q1 2021 9.07 % 10.69 % (5.35 %)


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2012 114.77 4.24 4.24 13.27
Q2 2012 114.77 4.68 4.68 15.47
Q3 2012 114.77 4.98 4.98 16.43
Q4 2012 114.77 5.40 5.40 17.62
Q1 2013 114.77 5.79 5.79 17.23
Q2 2013 114.77 6.04 6.04 19.68
Q3 2013 114.77 6.24 6.24 19.47
Q4 2013 114.77 6.72 6.72 21.14
Q1 2014 114.77 6.95 6.95 20.06
Q2 2014 114.77 7.14 7.14 22.70
Q3 2014 114.77 6.90 6.90 21.34
Q4 2014 114.77 7.00 7.00 20.91
Q1 2015 114.77 7.17 7.33 20.84
Q2 2015 114.77 7.23 7.66 22.71
Q3 2015 114.77 7.10 7.82 22.66
Q4 2015 114.77 5.37 6.57 22.73
Q1 2016 114.77 5.47 7.01 23.45
Q2 2016 114.77 3.35 4.62 23.76
Q3 2016 114.77 2.98 3.96 22.86
Q4 2016 114.77 3.71 4.21 18.41
Q1 2017 114.77 3.79 3.79 25.99
Q2 2017 114.77 3.26 3.62 25.84
Q3 2017 114.77 3.26 3.62 26.00
Q4 2017 114.77 0.90 1.26 19.59
Q1 2018 114.77 1.05 1.41 21.71
Q2 2018 114.77 1.08 1.08 21.81
Q3 2018 114.77 0.88 0.65 22.01
Q4 2018 114.77 1.26 1.04 21.59
Q1 2019 114.77 1.04 0.88 23.52
Q2 2019 114.77 0.72 0.58 22.93
Q3 2019 114.77 0.79 (0.35) 23.25
Q4 2019 114.77 (5.72) (1.82) 14.07
Q1 2020 114.77 (12.25) (7.67) 9.81
Q2 2020 114.77 (12.87) (8.61) 8.74
Q3 2020 114.77 (14.29) (7.87) 7.63
Q4 2020 114.77 (9.50) (6.72) 4.81
Q1 2021 114.77 (4.52) (2.50) 5.31

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2012 10.86 10.86 3.47
Q2 2012 10.46 10.46 3.16
Q3 2012 11.12 11.12 3.37
Q4 2012 11.75 11.75 3.60
Q1 2013 13.05 13.05 4.38
Q2 2013 15.85 15.85 4.87
Q3 2013 19.79 19.79 6.34
Q4 2013 18.92 18.92 6.02
Q1 2014 23.70 23.70 8.21
Q2 2014 24.43 24.43 7.68
Q3 2014 33.28 33.28 10.76
Q4 2014 25.89 25.89 8.66
Q1 2015 24.68 24.12 8.49
Q2 2015 24.81 23.41 7.90
Q3 2015 16.90 15.33 5.29
Q4 2015 24.10 19.69 5.69
Q1 2016 13.92 10.87 3.25
Q2 2016 24.42 17.71 3.44
Q3 2016 20.62 15.53 2.69
Q4 2016 18.17 16.01 3.66
Q1 2017 15.54 15.54 2.26
Q2 2017 23.59 21.26 2.98
Q3 2017 24.22 21.83 3.04
Q4 2017 61.70 44.17 2.84
Q1 2018 46.73 34.83 2.26
Q2 2018 44.06 44.06 2.17
Q3 2018 48.47 65.43 1.94
Q4 2018 31.92 38.60 1.87
Q1 2019 43.09 51.27 1.91
Q2 2019 58.40 72.72 1.83
Q3 2019 60.01 NEG 2.03
Q4 2019 NEG NEG 3.33
Q1 2020 NEG NEG 3.27
Q2 2020 NEG NEG 3.96
Q3 2020 NEG NEG 5.56
Q4 2020 NEG NEG 8.30
Q1 2021 NEG NEG 7.76

Business Segments (Million)

Compared With The
Period Fashion Retail Indoor Entertainment Food and Beverages
Q1 2016 2,174.25 15.68 -
Q2 2016 1,654.59 10.67 -
Q1 2017 2,051.25 18.69 -
Q2 2017 1,487.68 15.87 -
Q3 2017 1,349.77 - -
Q4 2017 1,146.74 46.52 -
Q1 2018 1,826.98 18.75 -
Q2 2018 1,254.22 19.75 -
Q3 2018 1,213.86 19.67 -
Q4 2018 1,108.20 (35.63) -
Q1 2019 1,714.68 17.71 -
Q2 2019 1,217.02 17.57 -
Q3 2019 1,270.18 19.60 -
Q4 2019 1,012.92 19.35 52.76
Q1 2020 545.73 0.07 19.14
Q2 2020 1,078.98 0.75 105.88
Q3 2020 1,228.32 2.02 119.36
Q4 2020 1,033.78 2.39 96.09
Q1 2021 1,583.17 9.94 107.10

Analysts Estimates (Million)

Item Q1 2021 (e) Q1 2021 (a) Change‬
Average 106.60 46.88 (56.0 %)

Estimates vs Actual (Million)

Item Q1 2021 (e) Q1 2021 (a) Change
Al Rajhi Capital 80.00 46.88 (41.4) %
SNB Capital 151.00 46.88 (69.0) %
AlJazira Capital 181.40 46.88 (74.2) %
Arqaam Capital 14.00 46.88 234.9 %

Current
Market Cap (M Riyal) 974.65
Enterprise Value (EV) (M) 3,123.63
Shares Outstanding ((M)) 114.80
EPS ( Riyal) (TTM) (11.10)
Book Value (BV) ( Riyal) (8.53)
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book (1.00)
Return on Average Assets (%) (TTM) (20.76 )
Return on Average Equity (%) (TTM) -

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