Al Akaria net profit down 59% in Q1 2019

09/05/2019 Argaam Exclusive

View other reports

Share Price

Saudi Real Estate Co. (ALAKARIA)

Saudi Real Estate Co. (Al Akaria) reported a net profit of SAR 18.5 million for the first quarter of 2019, a 58.5 percent year-on-year decline compared to the same period last

year, the company said in a bourse statement.

The decline can be attributed to lower revenue driven by lower occupancy rates of the company’s units in addition to higher general & administrative expenses and selling and marketing expenses.

When compared to previous quarter’s net loss of SAR 270.7 million, financial charges have declined during this quarter.

Previous quarter included SAR 240 million provisions resulting from the application of IFRS 9.

Current Quarter Comparison (M)

Compared With The

Item	Q1 2018	Q1 2019	Change‬
Revenues	80.29	72.41	(9.8 %)
Gross Income	54.12	45.36	(16.2 %)
Operating Income	32.98	1.44	(95.6 %)
Net Income	44.64	18.49	(58.6 %)
Average Shares	276.53	276.53	-
EPS (Riyals)	0.16	0.07	(58.6 %)

Item	Q4 2018	Q1 2019	Change‬
Revenues	64.14	72.41	12.9 %
Gross Income	36.56	45.36	24.1 %
Operating Income	(19.17)	1.44	107.5 %
Net Income	(270.64)	18.49	106.8 %
Average Shares	276.53	276.53	-
EPS (Riyals)	(0.98)	0.07	106.8 %

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
Q1 2010	50.04	13.9 %	33.22	10.3 %	30.68	(1.1 %)	0.11
Q2 2010	45.11	7.4 %	24.80	(1.8 %)	2.60	(87.8 %)	0.01
Q3 2010	58.86	40.6 %	38.27	53.8 %	33.05	66.9 %	0.12
Q4 2010	278.15	540.4 %	167.46	495.7 %	116.81	467.6 %	0.42
2010	432.15	152.4 %	263.76	143.3 %	183.14	97.7 %	0.66
Q1 2011	69.62	39.1 %	45.22	36.1 %	30.16	(1.7 %)	0.11
Q2 2011	59.10	31.0 %	39.59	59.6 %	25.14	868.0 %	0.09
Q3 2011	59.12	0.5 %	38.06	(0.6 %)	33.80	2.3 %	0.12
Q4 2011	76.82	(72.4 %)	56.95	(66.0 %)	60.62	(48.1 %)	0.22
2011	264.66	(38.8 %)	179.81	(31.8 %)	149.72	(18.3 %)	0.54
Q1 2012	60.60	(13.0 %)	42.03	(7.1 %)	38.18	26.6 %	0.14
Q2 2012	60.49	2.3 %	40.11	1.3 %	37.16	47.8 %	0.13
Q3 2012	141.32	139.0 %	52.31	37.4 %	47.24	39.8 %	0.17
Q4 2012	62.87	(18.2 %)	43.88	(22.9 %)	56.76	(6.4 %)	0.21
2012	325.27	22.9 %	178.33	(0.8 %)	179.51	19.9 %	0.65
Q1 2013	63.21	4.3 %	45.69	8.7 %	42.15	10.4 %	0.15
Q2 2013	62.73	3.7 %	41.47	3.4 %	19.27	(48.2 %)	0.07
Q3 2013	67.11	(52.5 %)	46.80	(10.5 %)	36.21	(23.3 %)	0.13
Q4 2013	65.77	4.6 %	47.44	8.1 %	58.39	2.9 %	0.21
2013	258.82	(20.4 %)	181.39	1.7 %	156.02	(13.1 %)	0.56
Q1 2014	63.76	0.9 %	43.68	(4.4 %)	37.47	(11.1 %)	0.14
Q2 2014	64.88	3.4 %	45.30	9.2 %	48.03	149.3 %	0.17
Q3 2014	68.08	1.5 %	46.94	0.3 %	61.27	69.2 %	0.22
Q4 2014	144.51	119.7 %	117.48	147.6 %	132.20	126.4 %	0.48
2014	341.24	31.8 %	253.40	39.7 %	276.25	77.1 %	1.00
Q1 2015	67.20	5.4 %	46.39	6.2 %	43.12	15.1 %	0.16
Q2 2015	68.49	5.6 %	46.06	1.7 %	36.72	(23.5 %)	0.13
Q3 2015	70.90	4.1 %	50.09	6.7 %	38.37	(37.4 %)	0.14
Q4 2015	72.30	(50.0 %)	52.38	(55.4 %)	29.42	(77.7 %)	0.11
2015	278.89	(18.3 %)	194.92	(23.1 %)	147.63	(46.6 %)	0.53
Q1 2016	72.63	8.1 %	50.41	8.7 %	25.59	(40.7 %)	0.09
Q2 2016	74.65	9.0 %	50.42	9.5 %	42.75	16.4 %	0.15
Q3 2016	77.67	9.5 %	48.99	(2.2 %)	36.19	(5.7 %)	0.13
Q4 2016	89.52	23.8 %	66.52	27.0 %	(21.76)	(174.0 %)	(0.08)
2016	314.47	12.8 %	216.40	11.0 %	73.68	(50.1 %)	0.27
Q1 2017	78.60	8.2 %	52.38	3.9 %	47.76	86.6 %	0.17
Q2 2017	78.65	5.4 %	53.06	5.2 %	20.71	(51.6 %)	0.07
Q3 2017	80.13	3.2 %	52.47	7.1 %	21.36	(41.0 %)	0.08
Q4 2017	77.63	(13.3 %)	52.01	(21.8 %)	39.91	283.4 %	0.14
2017	315.01	0.2 %	209.91	(3.0 %)	132.48	79.8 %	0.48
Q1 2018	80.29	2.2 %	54.12	3.3 %	44.64	(6.5 %)	0.16
Q2 2018	83.12	5.7 %	58.50	10.3 %	30.27	46.1 %	0.11
Q3 2018	69.02	(13.9 %)	36.03	(31.3 %)	12.67	(40.7 %)	0.05
Q4 2018	64.14	(17.4 %)	36.56	(29.7 %)	(270.64)	(778.2 %)	(0.98)
2018	296.57	(5.9 %)	185.20	(11.8 %)	(183.07)	(238.2 %)	(0.66)
Q1 2019	72.41	(9.8 %)	45.36	(16.2 %)	18.49	(58.6 %)	0.07

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
2009	171.22	(23.9 %)	108.40	(14.7 %)	92.61	(20.9 %)	0.33
2010	432.15	152.4 %	263.76	143.3 %	183.14	97.7 %	0.66
2011	264.66	(38.8 %)	179.81	(31.8 %)	149.72	(18.3 %)	0.54
2012	325.27	22.9 %	178.33	(0.8 %)	179.51	19.9 %	0.65
2013	258.82	(20.4 %)	181.39	1.7 %	156.02	(13.1 %)	0.56
2014	341.24	31.8 %	253.40	39.7 %	276.25	77.1 %	1.00
2015	278.89	(18.3 %)	194.92	(23.1 %)	147.63	(46.6 %)	0.53
2016	314.47	12.8 %	216.40	11.0 %	73.68	(50.1 %)	0.27
2017	315.01	0.2 %	209.91	(3.0 %)	132.48	79.8 %	0.48
2018	296.57	(5.9 %)	185.20	(11.8 %)	(183.07)	(238.2 %)	(0.66)

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2010	62.87 %	65.29 %	52.04 %
Q2 2010	61.53 %	65.15 %	53.53 %
Q3 2010	63.01 %	65.94 %	55.63 %
Q4 2010	61.03 %	62.92 %	51.06 %
2010	61.03 %	62.92 %	51.06 %
Q1 2011	61.05 %	61.89 %	50.48 %
Q2 2011	62.39 %	62.99 %	50.81 %
Q3 2011	62.30 %	63.34 %	50.95 %
Q4 2011	67.94 %	70.67 %	62.96 %
2011	67.94 %	70.67 %	62.96 %
Q1 2012	69.09 %	70.46 %	65.22 %
Q2 2012	68.92 %	68.62 %	66.05 %
Q3 2012	56.42 %	54.34 %	54.01 %
Q4 2012	54.82 %	58.00 %	55.13 %
2012	54.82 %	58.00 %	55.19 %
Q1 2013	55.50 %	60.86 %	55.91 %
Q2 2013	55.53 %	62.16 %	55.46 %
Q3 2013	69.48 %	80.40 %	69.53 %
Q4 2013	70.08 %	74.74 %	69.38 %
2013	70.08 %	74.74 %	69.39 %
Q1 2014	69.17 %	72.93 %	67.43 %
Q2 2014	70.06 %	72.62 %	71.12 %
Q3 2014	69.85 %	71.83 %	78.16 %
Q4 2014	74.26 %	75.43 %	81.75 %
2014	74.26 %	75.43 %	80.96 %
Q1 2015	74.30 %	75.34 %	82.57 %
Q2 2015	73.75 %	75.55 %	78.47 %
Q3 2015	74.06 %	75.76 %	71.32 %
Q4 2015	69.89 %	70.12 %	52.93 %
2015	69.89 %	70.11 %	52.93 %
Q1 2016	69.97 %	70.35 %	45.76 %
Q2 2016	69.98 %	68.25 %	47.95 %
Q3 2016	68.02 %	62.69 %	46.12 %
Q4 2016	68.79 %	63.62 %	24.33 %
2016	68.81 %	63.64 %	21.44 %
Q1 2017	68.13 %	62.73 %	30.80 %
Q2 2017	68.10 %	61.80 %	22.65 %
Q3 2017	68.65 %	61.40 %	17.95 %
Q4 2017	66.64 %	61.44 %	46.11 %
2017	66.64 %	61.43 %	46.98 %
Q1 2018	66.83 %	60.05 %	41.86 %
Q2 2018	67.59 %	55.60 %	43.31 %
Q3 2018	64.71 %	48.48 %	42.06 %
Q4 2018	62.45 %	34.38 %	6.84 %
2018	62.45 %	34.38 %	6.84 %
Q1 2019	61.12 %	24.15 %	1.28 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2009	63.31 %	64.85 %	54.09 %
2010	61.03 %	62.92 %	51.06 %
2011	67.94 %	70.67 %	62.96 %
2012	54.82 %	58.00 %	55.19 %
2013	70.08 %	74.74 %	69.39 %
2014	74.26 %	75.43 %	80.96 %
2015	69.89 %	70.11 %	52.93 %
2016	68.81 %	63.64 %	21.44 %
2017	66.64 %	61.43 %	46.98 %
2018	62.45 %	34.38 %	6.84 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2010	66.39 %	74.08 %	61.32 %
Q2 2010	54.99 %	60.88 %	56.59 %
Q3 2010	65.03 %	68.17 %	56.15 %
Q4 2010	60.21 %	60.13 %	47.24 %
Q1 2011	64.96 %	64.30 %	54.68 %
Q2 2011	66.98 %	69.76 %	57.76 %
Q3 2011	64.37 %	70.87 %	57.17 %
Q4 2011	74.13 %	77.00 %	78.92 %
Q1 2012	69.36 %	62.45 %	63.00 %
Q2 2012	66.32 %	61.97 %	61.44 %
Q3 2012	37.01 %	35.29 %	33.43 %
Q4 2012	69.79 %	100.96 %	90.27 %
Q1 2013	72.27 %	77.10 %	66.69 %
Q2 2013	66.10 %	68.75 %	58.88 %
Q3 2013	69.73 %	75.15 %	62.74 %
Q4 2013	72.14 %	77.79 %	88.78 %
Q1 2014	68.52 %	69.71 %	58.77 %
Q2 2014	69.81 %	67.64 %	74.02 %
Q3 2014	68.94 %	72.06 %	89.99 %
Q4 2014	81.29 %	83.04 %	91.48 %
Q1 2015	69.03 %	69.56 %	64.16 %
Q2 2015	67.26 %	69.07 %	53.62 %
Q3 2015	70.65 %	73.27 %	54.11 %
Q4 2015	72.44 %	68.53 %	40.69 %
Q1 2016	69.40 %	70.50 %	35.23 %
Q2 2016	67.55 %	61.02 %	61.49 %
Q3 2016	63.07 %	51.57 %	46.59 %
Q4 2016	74.31 %	70.67 %	(34.81 %)
Q1 2017	66.65 %	66.33 %	60.77 %
Q2 2017	67.46 %	57.28 %	26.34 %
Q3 2017	65.48 %	50.23 %	26.66 %
Q4 2017	66.99 %	72.26 %	71.37 %
Q1 2018	67.40 %	60.74 %	43.72 %
Q2 2018	70.37 %	40.24 %	32.76 %
Q3 2018	52.19 %	17.39 %	18.36 %
Q4 2018	57.01 %	12.08 %	(85.30 %)
Q1 2019	62.65 %	22.84 %	25.54 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2010	276.53	0.33	0.33	11.23
Q2 2010	276.53	0.27	0.35	10.97
Q3 2010	276.53	0.31	0.40	11.11
Q4 2010	276.53	0.66	0.80	11.58
Q1 2011	276.53	0.66	0.82	11.70
Q2 2011	276.53	0.74	0.86	11.25
Q3 2011	276.53	0.74	0.86	11.35
Q4 2011	276.53	0.54	0.60	11.48
Q1 2012	276.53	0.57	0.60	11.88
Q2 2012	276.53	0.61	0.61	11.57
Q3 2012	276.53	0.66	0.66	11.80
Q4 2012	276.53	0.65	0.65	11.73
Q1 2013	276.53	0.66	0.66	11.90
Q2 2013	276.53	0.60	0.66	11.77
Q3 2013	276.53	0.56	0.64	11.72
Q4 2013	276.53	0.56	0.65	11.95
Q1 2014	276.53	0.55	0.63	11.92
Q2 2014	276.53	0.65	0.67	12.14
Q3 2014	276.53	0.74	0.74	12.20
Q4 2014	276.53	1.01	1.01	12.51
Q1 2015	276.53	1.03	1.03	12.44
Q2 2015	276.53	0.99	0.99	12.50
Q3 2015	276.53	0.91	0.91	12.33
Q4 2015	276.53	0.53	0.53	12.39
Q1 2016	276.53	0.47	0.47	12.54
Q2 2016	276.53	0.49	0.50	12.58
Q3 2016	276.53	0.48	0.50	12.10
Q4 2016	276.53	0.30	0.28	12.68
Q1 2017	276.53	0.38	0.36	12.78
Q2 2017	276.53	0.30	0.27	12.55
Q3 2017	276.53	0.25	0.21	12.34
Q4 2017	276.53	0.47	0.53	12.54
Q1 2018	276.53	0.46	0.48	12.65
Q2 2018	276.53	0.49	0.50	12.50
Q3 2018	276.53	0.46	0.47	12.52
Q4 2018	276.53	(0.66)	0.07	11.43
Q1 2019	276.53	(0.76)	0.01	11.51

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2009	276.53	0.33	0.33	11.09
2010	276.53	0.66	0.80	11.58
2011	276.53	0.54	0.60	11.48
2012	276.53	0.65	0.65	11.73
2013	276.53	0.56	0.65	11.95
2014	276.53	1.00	1.00	12.51
2015	276.53	0.53	0.53	12.39
2016	276.53	0.27	0.24	12.68
2017	276.53	0.48	0.54	12.54
2018	276.53	(0.66)	0.07	11.43

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2010	45.67	45.67	1.36
Q2 2010	52.49	40.03	1.27
Q3 2010	47.00	37.19	1.33
Q4 2010	23.28	19.32	1.33
Q1 2011	21.74	17.41	1.23
Q2 2011	19.01	16.48	1.25
Q3 2011	17.91	15.53	1.17
Q4 2011	28.48	25.59	1.34
Q1 2012	30.74	29.08	1.48
Q2 2012	23.93	23.93	1.27
Q3 2012	22.56	22.56	1.27
Q4 2012	29.58	29.58	1.63
Q1 2013	30.27	30.27	1.69
Q2 2013	30.99	28.00	1.57
Q3 2013	33.41	28.99	1.59
Q4 2013	36.09	31.35	1.70
Q1 2014	38.39	33.22	1.76
Q2 2014	38.09	36.89	2.04
Q3 2014	37.81	37.81	2.30
Q4 2014	19.50	19.50	1.57
Q1 2015	20.38	20.38	1.69
Q2 2015	22.11	22.11	1.75
Q3 2015	15.10	15.10	1.11
Q4 2015	25.33	25.33	1.09
Q1 2016	23.14	23.14	0.87
Q2 2016	25.82	25.24	1.01
Q3 2016	21.58	21.08	0.86
Q4 2016	52.38	56.66	1.24
Q1 2017	32.25	34.30	0.96
Q2 2017	41.10	46.36	0.98
Q3 2017	48.86	56.69	0.97
Q4 2017	28.10	25.10	1.05
Q1 2018	27.94	26.68	1.01
Q2 2018	38.08	37.27	1.50
Q3 2018	36.00	35.19	1.33
Q4 2018	NEG	More than 100	1.26
Q1 2019	NEG	More than 100	1.33

Period	P/E	Adjusted P/E	Price/book
2009	45.33	45.33	1.37
2010	23.28	19.32	1.33
2011	28.48	25.59	1.34
2012	29.55	29.55	1.63
2013	36.09	31.35	1.70
2014	19.69	19.69	1.57
2015	25.33	25.33	1.09
2016	58.84	64.29	1.24
2017	27.51	24.63	1.05
2018	NEG	More than 100	1.26

Business Segments (Million)

Compared With The

Period	services segment	Residential sector	The commercial sector	Rents	Other real estate revenues	Maintenance revenues	Sale of Land	Amana Project
Q1 2010	-	-	-	48.72	0.22	1.09	-	-
Q2 2010	-	-	-	43.43	0.63	1.05	-	-
Q3 2010	-	-	-	57.54	2.61	(1.29)	-	-
Q4 2010	-	-	-	54.75	0.31	0.17	222.91	-
Q1 2011	-	-	-	57.26	0.22	0.63	11.51	-
Q2 2011	-	-	-	58.53	-	0.57	-	-
Q3 2011	-	-	-	58.37	0.36	0.40	-	-
Q4 2011	-	-	-	59.28	-	0.24	17.50	-
Q1 2012	-	-	-	59.99	-	0.60	-	-
Q2 2012	-	-	-	59.94	0.01	0.54	-	-
Q3 2012	-	-	-	60.76	0.01	0.57	79.99	-
Q4 2012	-	-	-	62.28	0.01	0.58	-	-
Q1 2013	-	-	-	62.66	0.01	0.54	-	-
Q2 2013	-	-	-	62.21	0.12	0.41	-	-
Q3 2013	-	-	-	66.81	0.01	0.30	-	-
Q4 2013	-	-	-	65.17	0.14	0.46	-	-
Q1 2014	-	-	-	63.23	0.02	0.51	-	-
Q2 2014	-	-	-	64.47	0.01	0.40	-	-
Q3 2014	-	-	-	67.32	0.28	0.49	-	-
Q4 2014	-	-	-	67.06	-	0.56	77.15	-
Q1 2015	-	-	-	66.68	0.02	0.51	-	-
Q4 2016	-	113.91	(24.39)	-	-	-	-	-
Q1 2017	-	45.84	32.76	-	-	-	-	-
Q2 2017	-	21.60	57.05	-	-	-	-	-
Q3 2017	-	33.98	46.15	-	-	-	-	-
Q4 2017	-	35.82	41.81	-	-	-	-	-
Q1 2018	-	44.71	35.58	-	-	-	-	-
Q2 2018	-	28.12	55.00	-	-	-	-	-
Q3 2018	-	30.99	37.69	-	-	-	-	-
Q4 2018	-	28.19	36.29	-	-	-	-	-
Q1 2019	-	32.44	39.96	-	-	-	-	-

Period	services segment	Residential sector	The commercial sector	Rents	Other real estate revenues	Maintenance revenues	Sale of Land	Amana Project
2009	-	-	-	168.02	0.83	2.36	-	-
2010	-	-	-	204.44	3.77	1.02	222.91	-
2011	-	-	-	233.44	0.37	1.84	29.01	-
2012	-	-	-	242.96	0.03	2.29	79.99	-
2013	-	-	-	256.84	0.27	1.71	-	-
2014	-	-	-	262.06	0.06	1.96	77.15	-
2015	-	-	-	277.12	0.08	1.69	-	-
2016	-	198.79	115.68	-	-	-	-	-
2017	-	137.24	177.77	-	-	-	-	-
2018	-	132.01	164.56	-	-	-	-	-

Analysts Estimates (Million)

Item	Q1 2019 (e)	Q1 2019 (a)	Change‬
Average	16.00	18.49	15.59 %

Estimates vs Actual (Million)

Item	Q1 2019 (e)	Q1 2019 (a)	Change
SNB Capital	16.00	18.49	15.6 %

Financial Ratios

	Current
Market Cap (M Riyal)	7,500.00
Enterprise Value (EV) (M)	9,850.63
Shares Outstanding ((M))	375.00
EPS ( Riyal) (TTM)	0.16
Book Value (BV) ( Riyal)	12.74
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	More than 100
P/E (TTM)	More than 100
Price/book	1.57
Return on Average Assets (%) (TTM)	0.7
Return on Average Equity (%) (TTM)	1.3

Twitter

Facebook

Linked in

Comments {{getCommentCount()}}

Be the first to comment

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

Sorry: the validity period has ended to comment on this news

Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Sign In

Search Result

Al Akaria net profit down 59% in Q1 2019

View other reports

Share Price

Saudi Real Estate Co. (ALAKARIA)

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 Q1

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

Comments {{getCommentCount()}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}}

Sign In

×

Forgot password?

Al Akaria net profit down 59% in Q1 2019

View other reports

Share Price

Saudi Real Estate Co. (ALAKARIA)

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 2019

Revenue by Business Segment (Latest) 2019 Q1

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

Comments {{getCommentCount()}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}}

Business Segments (Million)