Jarir Q1 2023 profit edges down to SAR 247.8 mln

17/04/2023 Argaam Exclusive

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Share Price

Jarir Marketing Co. (JARIR)

Jarir Marketing Co. (JMC) reported a net profit of SAR 247.8 million for Q1 2023, compared to SAR 251.3 million a year earlier.

Current Quarter Comparison (M)

Compared With The

Item	Q1 2022	Q1 2023	Change‬
Revenues	2,286.89	2,717.65	18.8 %
Gross Income	325.05	323.74	(0.4 %)
Operating Income	258.12	249.42	(3.4 %)
Net Income	251.31	247.75	(1.4 %)
Average Shares	1,200.00	1,200.00	-
EPS (Riyals)	0.21	0.21	(1.4 %)

Item	Q4 2022	Q1 2023	Change‬
Revenues	2,577.29	2,717.65	5.4 %
Gross Income	341.48	323.74	(5.2 %)
Operating Income	250.48	249.42	(0.4 %)
Net Income	267.57	247.75	(7.4 %)
Average Shares	1,200.00	1,200.00	-
EPS (Riyals)	0.22	0.21	(7.4 %)

The profit decline was due to higher selling and marketing expenses to promote sales. Gross profit slightly declined due to the sharp fall in school supplies sales compared to the same quarter of last year, which witnessed the resumption of study in full attendance for the primary and kindergarten stages after the removal of COVID-19 restrictions.

This was despite the 18.8% sales increase due to a rise in most sections, especially smartphones and video games.

Other revenues increased; hence the net profit decline was limited to 1.4%.

Compared to the previous quarter, net profit decreased by 7.4% from SAR 267.57 million.

Total shareholders’ equity, after minority interest, was almost unchanged at SAR 1.77 billion as of March 31, 2023.

View More Financial Results

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
Q1 2014	1,398.85	5.2 %	235.05	11.5 %	201.33	11.3 %	0.17
Q2 2014	1,289.43	2.5 %	173.66	5.9 %	135.23	7.1 %	0.11
Q3 2014	1,426.25	6.9 %	237.37	8.5 %	203.00	9.0 %	0.17
Q4 2014	1,584.20	20.0 %	240.39	19.7 %	205.81	28.6 %	0.17
2014	5,698.72	8.7 %	886.48	11.6 %	745.37	14.1 %	0.62
Q1 2015	1,909.51	36.5 %	283.51	20.6 %	247.02	22.7 %	0.21
Q2 2015	1,405.76	9.0 %	191.37	10.2 %	154.86	14.5 %	0.13
Q3 2015	1,536.06	7.7 %	253.41	6.8 %	218.50	7.6 %	0.18
Q4 2015	1,524.05	(3.8 %)	243.74	1.4 %	208.09	1.1 %	0.17
2015	6,375.38	11.9 %	972.03	9.7 %	828.47	11.1 %	0.69
Q1 2016	1,417.43	(25.8 %)	214.77	(24.2 %)	174.96	(29.2 %)	0.15
Q2 2016	1,390.74	(1.1 %)	162.76	(15.0 %)	126.48	(18.3 %)	0.11
Q3 2016	1,520.93	(1.0 %)	252.93	(0.2 %)	217.92	(0.3 %)	0.18
Q4 2016	1,793.46	17.7 %	244.80	0.4 %	215.32	3.5 %	0.18
2016	6,122.56	(4.0 %)	875.76	(9.9 %)	734.31	(11.4 %)	0.61
Q1 2017	1,704.95	20.3 %	247.38	15.2 %	221.44	26.6 %	0.18
Q2 2017	1,584.80	14.0 %	192.72	18.4 %	147.76	16.8 %	0.12
Q3 2017	1,651.79	8.6 %	290.72	14.9 %	246.53	13.1 %	0.21
Q4 2017	2,000.39	11.5 %	306.42	25.2 %	251.93	17.0 %	0.21
2017	6,941.94	13.4 %	1,037.24	18.4 %	867.66	18.2 %	0.72
Q1 2018	1,599.42	(6.2 %)	242.67	(1.9 %)	219.10	(1.1 %)	0.18
Q2 2018	1,693.32	6.8 %	212.53	10.3 %	162.59	10.0 %	0.14
Q3 2018	1,932.08	17.0 %	338.56	16.5 %	288.00	16.8 %	0.24
Q4 2018	2,136.90	6.8 %	320.07	4.5 %	290.31	15.2 %	0.24
2018	7,361.72	6.0 %	1,113.82	7.4 %	959.99	10.6 %	0.80
Q1 2019	1,886.64	18.0 %	302.14	24.5 %	233.69	6.7 %	0.19
Q2 2019	1,892.58	11.8 %	233.90	10.1 %	169.13	4.0 %	0.14
Q3 2019	2,251.23	16.5 %	389.14	14.9 %	304.97	5.9 %	0.25
Q4 2019	2,394.06	12.0 %	348.00	8.7 %	276.94	(4.6 %)	0.23
2019	8,424.51	14.4 %	1,273.17	14.3 %	984.73	2.6 %	0.82
Q1 2020	2,340.22	24.0 %	327.46	8.4 %	251.69	7.7 %	0.21
Q2 2020	2,373.92	25.4 %	303.74	29.9 %	208.39	23.2 %	0.17
Q3 2020	2,037.85	(9.5 %)	334.46	(14.1 %)	255.24	(16.3 %)	0.21
Q4 2020	2,553.83	6.7 %	362.96	4.3 %	287.67	3.9 %	0.24
2020	9,305.81	10.5 %	1,328.61	4.4 %	1,002.99	1.9 %	0.84
Q1 2021	2,530.39	8.1 %	337.57	3.1 %	267.64	6.3 %	0.22
Q2 2021	2,015.28	(15.1 %)	262.03	(13.7 %)	189.24	(9.2 %)	0.16
Q3 2021	2,224.49	9.2 %	344.09	2.9 %	272.50	6.8 %	0.23
Q4 2021	2,318.11	(9.2 %)	285.64	(21.3 %)	262.48	(8.8 %)	0.22
2021	9,088.26	(2.3 %)	1,229.33	(7.5 %)	991.86	(1.1 %)	0.83
Q1 2022	2,286.89	(9.6 %)	325.05	(3.7 %)	251.31	(6.1 %)	0.21
Q2 2022	2,010.48	(0.2 %)	248.59	(5.1 %)	177.16	(6.4 %)	0.15
Q3 2022	2,517.03	13.2 %	372.26	8.2 %	273.72	0.4 %	0.23
Q4 2022	2,577.29	11.2 %	341.48	19.5 %	267.57	1.9 %	0.22
2022	9,391.70	3.3 %	1,287.38	4.7 %	969.76	(2.2 %)	0.81
Q1 2023	2,717.65	18.8 %	323.74	(0.4 %)	247.75	(1.4 %)	0.21

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
2013	5,242.67	13.1 %	794.36	14.4 %	653.26	14.6 %	0.54
2014	5,698.72	8.7 %	886.48	11.6 %	745.37	14.1 %	0.62
2015	6,375.38	11.9 %	972.03	9.7 %	828.47	11.1 %	0.69
2016	6,122.56	(4.0 %)	875.76	(9.9 %)	734.31	(11.4 %)	0.61
2017	6,941.94	13.4 %	1,037.24	18.4 %	867.66	18.2 %	0.72
2018	7,361.72	6.0 %	1,113.82	7.4 %	959.99	10.6 %	0.80
2019	8,424.51	14.4 %	1,273.17	14.3 %	984.73	2.6 %	0.82
2020	9,305.81	10.5 %	1,328.61	4.4 %	1,002.99	1.9 %	0.84
2021	9,088.26	(2.3 %)	1,229.33	(7.5 %)	991.86	(1.1 %)	0.83
2022	9,391.70	3.3 %	1,287.38	4.7 %	969.76	(2.2 %)	0.81

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2014	15.41 %	12.97 %	12.68 %
Q2 2014	15.51 %	13.03 %	12.78 %
Q3 2014	15.58 %	13.14 %	12.87 %
Q4 2014	15.56 %	13.18 %	13.08 %
2014	15.56 %	13.18 %	13.08 %
Q1 2015	15.06 %	12.79 %	12.74 %
Q2 2015	15.06 %	12.84 %	12.82 %
Q3 2015	15.05 %	12.90 %	12.84 %
Q4 2015	15.25 %	13.19 %	12.99 %
2015	15.25 %	13.19 %	12.99 %
Q1 2016	15.35 %	13.10 %	12.86 %
Q2 2016	14.91 %	12.59 %	12.41 %
Q3 2016	14.94 %	12.65 %	12.50 %
Q4 2016	14.30 %	12.26 %	12.07 %
2016	14.30 %	12.30 %	12.06 %
Q1 2017	14.16 %	12.40 %	12.25 %
Q2 2017	14.20 %	12.33 %	12.10 %
Q3 2017	14.49 %	12.50 %	12.23 %
Q4 2017	14.94 %	12.73 %	12.39 %
2017	14.94 %	12.73 %	12.39 %
Q1 2018	15.10 %	12.90 %	12.55 %
Q2 2018	15.15 %	13.07 %	12.67 %
Q3 2018	15.23 %	13.18 %	12.76 %
Q4 2018	15.13 %	13.18 %	13.04 %
2018	15.13 %	13.18 %	13.04 %
Q1 2019	15.34 %	13.45 %	12.74 %
Q2 2019	15.22 %	13.68 %	12.50 %
Q3 2019	15.25 %	13.76 %	12.22 %
Q4 2019	15.11 %	13.85 %	11.69 %
2019	15.11 %	13.85 %	11.69 %
Q1 2020	14.63 %	13.37 %	11.29 %
Q2 2020	14.62 %	13.11 %	11.13 %
Q3 2020	14.36 %	12.93 %	10.85 %
Q4 2020	14.28 %	13.00 %	10.78 %
2020	14.28 %	13.00 %	10.78 %
Q1 2021	14.10 %	12.87 %	10.73 %
Q2 2021	14.19 %	13.18 %	10.94 %
Q3 2021	14.01 %	13.00 %	10.79 %
Q4 2021	13.53 %	12.28 %	10.37 %
2021	13.53 %	12.28 %	10.37 %
Q1 2022	13.76 %	12.44 %	10.47 %
Q2 2022	13.61 %	12.12 %	10.22 %
Q3 2022	13.49 %	11.88 %	10.03 %
Q4 2022	13.71 %	12.02 %	10.04 %
2022	13.71 %	12.02 %	10.04 %
Q1 2023	13.09 %	11.43 %	9.56 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2013	15.15 %	12.70 %	12.46 %
2014	15.56 %	13.18 %	13.08 %
2015	15.25 %	13.19 %	12.99 %
2016	14.30 %	12.30 %	12.06 %
2017	14.94 %	12.73 %	12.39 %
2018	15.13 %	13.18 %	13.04 %
2019	15.11 %	13.85 %	11.69 %
2020	14.28 %	13.00 %	10.78 %
2021	13.53 %	12.28 %	10.37 %
2022	13.71 %	12.02 %	10.04 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2014	16.80 %	14.93 %	14.39 %
Q2 2014	13.47 %	10.84 %	10.49 %
Q3 2014	16.64 %	14.55 %	14.23 %
Q4 2014	15.17 %	12.30 %	12.99 %
Q1 2015	14.85 %	13.20 %	12.94 %
Q2 2015	13.61 %	11.25 %	11.02 %
Q3 2015	16.50 %	14.64 %	14.22 %
Q4 2015	15.99 %	13.53 %	13.65 %
Q1 2016	15.15 %	12.79 %	12.34 %
Q2 2016	11.70 %	9.10 %	9.09 %
Q3 2016	16.63 %	14.89 %	14.59 %
Q4 2016	13.65 %	12.07 %	12.01 %
Q1 2017	14.51 %	13.23 %	12.99 %
Q2 2017	12.16 %	9.21 %	8.86 %
Q3 2017	17.60 %	15.38 %	14.93 %
Q4 2017	15.32 %	12.92 %	12.59 %
Q1 2018	15.17 %	13.99 %	13.70 %
Q2 2018	12.55 %	10.12 %	9.60 %
Q3 2018	17.52 %	15.48 %	14.91 %
Q4 2018	14.98 %	12.91 %	13.59 %
Q1 2019	16.01 %	14.98 %	12.39 %
Q2 2019	12.36 %	11.40 %	8.94 %
Q3 2019	17.29 %	15.52 %	13.55 %
Q4 2019	14.54 %	13.33 %	11.57 %
Q1 2020	13.99 %	12.95 %	10.76 %
Q2 2020	12.79 %	10.78 %	8.78 %
Q3 2020	16.41 %	14.94 %	12.52 %
Q4 2020	14.21 %	13.57 %	11.26 %
Q1 2021	13.34 %	12.45 %	10.58 %
Q2 2021	13.00 %	11.82 %	9.39 %
Q3 2021	15.47 %	14.03 %	11.75 %
Q4 2021	12.32 %	10.83 %	9.66 %
Q1 2022	14.21 %	13.08 %	10.99 %
Q2 2022	12.36 %	10.41 %	8.30 %
Q3 2022	14.79 %	12.92 %	10.87 %
Q4 2022	13.25 %	11.45 %	9.72 %
Q1 2023	11.91 %	10.77 %	9.12 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2014	1,200.00	0.56	0.56	1.04
Q2 2014	1,200.00	0.57	0.57	1.02
Q3 2014	1,200.00	0.58	0.58	1.10
Q4 2014	1,200.00	0.62	0.62	1.13
Q1 2015	1,200.00	0.66	0.66	1.20
Q2 2015	1,200.00	0.68	0.68	1.16
Q3 2015	1,200.00	0.69	0.69	1.23
Q4 2015	1,200.00	0.69	0.69	1.25
Q1 2016	1,200.00	0.63	0.63	1.23
Q2 2016	1,200.00	0.61	0.61	1.23
Q3 2016	1,200.00	0.61	0.61	1.29
Q4 2016	1,200.00	0.61	0.62	1.25
Q1 2017	1,200.00	0.65	0.65	1.27
Q2 2017	1,200.00	0.67	0.67	1.23
Q3 2017	1,200.00	0.69	0.69	1.33
Q4 2017	1,200.00	0.72	0.72	1.36
Q1 2018	1,200.00	0.72	0.71	1.35
Q2 2018	1,200.00	0.73	0.73	1.30
Q3 2018	1,200.00	0.77	0.77	1.41
Q4 2018	1,200.00	0.80	0.80	1.42
Q1 2019	1,200.00	0.81	0.81	1.32
Q2 2019	1,200.00	0.82	0.82	1.27
Q3 2019	1,200.00	0.83	0.83	1.39
Q4 2019	1,200.00	0.82	0.82	1.37
Q1 2020	1,200.00	0.84	0.84	1.36
Q2 2020	1,200.00	0.87	0.87	1.36
Q3 2020	1,200.00	0.83	0.83	1.41
Q4 2020	1,200.00	0.84	0.84	1.44
Q1 2021	1,200.00	0.85	0.85	1.43
Q2 2021	1,200.00	0.83	0.83	1.37
Q3 2021	1,200.00	0.85	0.84	1.46
Q4 2021	1,200.00	0.83	0.79	1.47
Q1 2022	1,200.00	0.81	0.77	1.48
Q2 2022	1,200.00	0.80	0.75	1.42
Q3 2022	1,200.00	0.80	0.76	1.50
Q4 2022	1,200.00	0.81	0.79	1.50
Q1 2023	1,200.00	0.81	0.78	1.48

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2013	1,200.00	0.54	0.54	0.98
2014	1,200.00	0.62	0.62	1.13
2015	1,200.00	0.69	0.69	1.25
2016	1,200.00	0.61	0.62	1.25
2017	1,200.00	0.72	0.72	1.36
2018	1,200.00	0.80	0.80	1.42
2019	1,200.00	0.82	0.82	1.37
2020	1,200.00	0.84	0.84	1.44
2021	1,200.00	0.83	0.79	1.47
2022	1,200.00	0.81	0.79	1.50

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2014	27.52	27.52	14.86
Q2 2014	25.93	25.93	14.50
Q3 2014	25.92	25.92	13.78
Q4 2014	22.43	22.43	12.30
Q1 2015	25.01	25.01	13.73
Q2 2015	24.53	24.53	14.28
Q3 2015	19.60	19.60	10.94
Q4 2015	17.37	17.37	9.57
Q1 2016	13.47	13.47	6.90
Q2 2016	14.55	14.55	7.19
Q3 2016	11.47	11.41	5.38
Q4 2016	14.14	14.07	6.91
Q1 2017	15.56	15.48	7.95
Q2 2017	16.44	16.51	8.93
Q3 2017	16.68	16.83	8.70
Q4 2017	15.22	15.35	8.12
Q1 2018	18.40	18.56	9.86
Q2 2018	18.18	18.18	10.24
Q3 2018	17.87	17.87	9.76
Q4 2018	19.00	19.00	10.73
Q1 2019	19.48	19.48	11.98
Q2 2019	20.45	20.45	13.11
Q3 2019	19.00	19.00	11.36
Q4 2019	20.18	20.18	12.08
Q1 2020	15.29	15.29	9.39
Q2 2020	16.81	16.81	10.71
Q3 2020	22.66	22.66	13.32
Q4 2020	20.75	20.75	12.06
Q1 2021	21.43	21.43	12.77
Q2 2021	25.35	25.35	15.38
Q3 2021	24.73	25.00	14.35
Q4 2021	23.81	25.06	13.35
Q1 2022	24.23	25.53	13.31
Q2 2022	20.25	21.59	11.45
Q3 2022	20.77	21.88	11.12
Q4 2022	18.56	19.10	9.99
Q1 2023	20.24	20.83	11.02

Period	P/E	Adjusted P/E	Price/book
2013	21.91	21.91	12.20
2014	22.43	22.43	12.30
2015	17.37	17.37	9.57
2016	14.15	14.07	6.91
2017	15.22	15.35	8.12
2018	19.00	19.00	10.73
2019	20.18	20.18	12.08
2020	20.75	20.75	12.06
2021	23.81	25.06	13.35
2022	18.56	19.10	9.99

Business Segments (Million)

Compared With The

Period	Retail sector	Wholesale sector	E-Commerce	Other sectors
Q1 2014	1,275.00	124.00	-	-
Q2 2014	1,230.00	59.00	-	-
Q3 2014	1,252.00	175.00	-	-
Q4 2014	1,486.00	98.00	-	-
Q1 2015	1,783.00	127.00	-	-
Q2 2015	1,345.00	60.00	-	-
Q3 2015	1,367.00	169.00	-	-
Q4 2015	1,397.00	127.00	-	-
Q1 2016	1,293.00	85.00	-	39.00
Q2 2016	1,303.00	50.00	-	38.00
Q3 2016	1,326.00	150.00	-	45.00
Q4 2016	1,673.00	71.00	-	50.00
Q1 2017	1,530.00	133.00	-	42.00
Q2 2017	1,497.00	43.00	-	45.00
Q3 2017	1,446.00	154.00	-	52.00
Q4 2017	1,772.00	121.00	-	107.00
Q1 2018	1,487.00	61.00	-	51.00
Q2 2018	1,596.00	35.00	-	63.00
Q3 2018	1,667.00	158.00	-	107.00
Q4 2018	1,873.00	118.00	-	146.00
Q1 2019	1,723.00	66.00	-	98.00
Q3 2019	1,914.00	170.00	135.00	32.00
Q4 2019	2,149.00	93.00	120.20	32.50
Q1 2020	2,071.00	77.00	148.00	44.00
Q2 2020	1,780.00	44.00	520.00	30.00
Q3 2020	1,804.00	66.00	145.00	23.00
Q4 2020	2,089.00	38.00	404.00	23.00
Q1 2021	2,276.00	40.00	193.00	21.00
Q2 2021	1,811.00	28.00	150.00	27.00
Q3 2021	1,868.00	78.00	255.00	23.00
Q4 2021	2,038.00	46.00	192.00	42.00
Q1 2022	2,012.00	69.00	181.00	25.00
Q2 2022	1,778.00	45.00	165.00	22.00
Q3 2022	2,003.00	115.00	371.00	28.00
Q4 2022	1,988.00	68.00	474.00	47.00
Q1 2023	1,950.00	64.00	665.00	39.00

Period	Retail sector	Wholesale sector	E-Commerce	Other sectors
2013	4,829.00	414.00	-	-
2014	5,243.00	456.00	-	-
2015	5,892.00	483.00	-	-
2016	5,595.00	356.00	-	172.00
2017	6,245.00	451.00	-	246.00
2018	6,623.00	372.00	-	367.00
2019	7,541.00	362.00	397.20	124.50
2020	7,744.00	225.00	1,217.00	120.00
2021	7,993.00	192.00	790.00	113.00
2022	7,781.00	297.00	1,192.00	122.00

Analysts Estimates (Million)

Item	Q1 2023 (e)	Q1 2023 (a)	Change‬
Average	257.34	247.75	(3.7 %)

Estimates vs Actual (Million)

Item	Q1 2023 (e)	Q1 2023 (a)	Change
Riyad Capital	247.00	247.75	0.3 %
SNB Capital	249.00	247.75	(0.5) %
OSOOL AND BAKHEET	256.90	247.75	(3.6) %
Sico	258.00	247.75	(4.0) %
Al Rajhi Capital	259.00	247.75	(4.3) %
U-Capital	263.90	247.75	(6.1) %
AlJazira Capital	267.60	247.75	(7.4) %

Financial Ratios

	Current
Market Cap (M Riyal)	15,264.00
Enterprise Value (EV) (M)	15,413.93
Shares Outstanding ((M))	1,200.00
EPS ( Riyal) (TTM)	0.79
Book Value (BV) ( Riyal)	1.42
Par Value ( Riyal)	1.00
Adjusted P/E (Last12)	16.16
P/E (TTM)	16.16
Price/book	8.93
Return on Average Assets (%) (TTM)	22.8
Return on Average Equity (%) (TTM)	54.2

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Jarir Q1 2023 profit edges down to SAR 247.8 mln

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Share Price

Jarir Marketing Co. (JARIR)

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) 2023 Q1

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

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Jarir Q1 2023 profit edges down to SAR 247.8 mln

View other reports

Share Price

Jarir Marketing Co. (JARIR)

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) Q1 2023

Revenue by Business Segment (Latest) 2023 Q1

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

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Business Segments (Million)