Dar Al Arkan posts higher net profit at SAR 369.2m in I2 of 2014

20/07/2014 Argaam Exclusive

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Share Price

Dar Alarkan Real Estate Development Co. (DAR ALARKAN)

Dar Alarkan Real Estate Development Co., land and real estate ownership and constructing buildings and investing through selling and leasing, reported SAR 369.2m net profit at the end of the first half of 2014, an 8% increase compared to the same period last year, as shown in the following table:

Financials (M)

Item	6m 2013	6m 2014	Change‬
Revenues	1,516.68	1,698.30	12.0 %
Gross Income	583.65	697.01	19.4 %
Operating Income	503.40	581.56	15.5 %
Net Income	341.31	369.20	8.2 %
Average Shares	1,080.00	1,080.00	-
EPS (Riyals)	0.32	0.34	8.2 %

Current Quarter Comparison (M)

Compared With The

Item	Q2 2013	Q2 2014	Change‬
Revenues	680.86	774.21	13.7 %
Gross Income	208.07	294.24	41.4 %
Operating Income	180.19	233.14	29.4 %
Net Income	103.70	121.34	17.0 %
Average Shares	1,080.00	1,080.00	-
EPS (Riyals)	0.10	0.11	17.0 %

Item	Q1 2014	Q2 2014	Change‬
Revenues	924.09	774.21	(16.2 %)
Gross Income	402.77	294.24	(26.9 %)
Operating Income	348.43	233.14	(33.1 %)
Net Income	247.86	121.34	(51.0 %)
Average Shares	1,080.00	1,080.00	-
EPS (Riyals)	0.23	0.11	(51.0 %)

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
Q1 2005	-	-	-	-	-	-	-
Q2 2005	-	-	-	-	-	-	-
Q3 2005	-	-	-	-	-	-	-
Q4 2005	-	-	-	-	-	-	-
2005	4,196.82	69.0 %	2,029.64	67.6 %	1,775.48	63.1 %	1.64
Q1 2006	846.33	-	399.39	-	380.39	-	0.35
Q2 2006	887.82	-	429.96	-	405.59	-	0.38
Q3 2006	-	-	-	-	-	-	-
Q4 2006	-	-	-	-	-	-	-
2006	4,352.59	3.7 %	2,122.71	4.6 %	1,813.95	2.2 %	1.68
Q1 2007	912.98	7.9 %	452.81	13.4 %	424.60	11.6 %	0.39
Q2 2007	1,041.78	17.3 %	560.20	30.3 %	471.81	16.3 %	0.44
Q3 2007	1,641.14	-	767.13	-	689.80	-	0.64
Q4 2007	1,330.04	-	627.87	-	422.37	-	0.39
2007	4,925.93	13.2 %	2,408.01	13.4 %	2,008.58	10.7 %	1.86
Q1 2008	1,234.17	35.2 %	586.70	29.6 %	452.76	6.6 %	0.42
Q2 2008	1,550.36	48.8 %	836.03	49.2 %	687.53	45.7 %	0.64
Q3 2008	1,567.04	(4.5 %)	859.32	12.0 %	719.50	4.3 %	0.67
Q4 2008	1,259.20	(5.3 %)	563.13	(10.3 %)	496.46	17.5 %	0.46
2008	5,610.77	13.9 %	2,845.18	18.2 %	2,356.25	17.3 %	2.18
Q1 2009	1,237.72	0.3 %	512.83	(12.6 %)	424.52	(6.2 %)	0.39
Q2 2009	1,482.37	(4.4 %)	712.82	(14.7 %)	618.27	(10.1 %)	0.57
Q3 2009	1,523.47	(2.8 %)	714.19	(16.9 %)	616.15	(14.4 %)	0.57
Q4 2009	1,220.50	(3.1 %)	567.29	0.7 %	463.74	(6.6 %)	0.43
2009	5,464.05	(2.6 %)	2,507.14	(11.9 %)	2,122.68	(9.9 %)	1.97
Q1 2010	1,144.94	(7.5 %)	478.42	(6.7 %)	398.65	(6.1 %)	0.37
Q2 2010	1,114.44	(24.8 %)	530.85	(25.5 %)	437.00	(29.3 %)	0.40
Q3 2010	910.21	(40.3 %)	374.90	(47.5 %)	289.63	(53.0 %)	0.27
Q4 2010	972.39	(20.3 %)	380.09	(33.0 %)	330.44	(28.7 %)	0.31
2010	4,141.98	(24.2 %)	1,764.26	(29.6 %)	1,455.71	(31.4 %)	1.35
Q1 2011	955.15	(16.6 %)	366.63	(23.4 %)	273.09	(31.5 %)	0.25
Q2 2011	791.24	(29.0 %)	337.74	(36.4 %)	297.77	(31.9 %)	0.28
Q3 2011	755.19	(17.0 %)	320.63	(14.5 %)	227.47	(21.5 %)	0.21
Q4 2011	810.93	(16.6 %)	344.02	(9.5 %)	289.61	(12.4 %)	0.27
2011	3,312.51	(20.0 %)	1,369.01	(22.4 %)	1,087.94	(25.3 %)	1.01
Q1 2012	868.19	(9.1 %)	367.46	0.2 %	292.59	7.1 %	0.27
Q2 2012	1,083.51	36.9 %	388.05	14.9 %	331.03	11.2 %	0.31
Q3 2012	728.52	(3.5 %)	329.38	2.7 %	220.89	(2.9 %)	0.20
Q4 2012	876.85	8.1 %	308.83	(10.2 %)	144.04	(50.3 %)	0.13
2012	3,557.07	7.4 %	1,393.71	1.8 %	988.54	(9.1 %)	0.92
Q1 2013	835.82	(3.7 %)	375.58	2.2 %	237.61	(18.8 %)	0.22
Q2 2013	680.86	(37.2 %)	208.07	(46.4 %)	103.70	(68.7 %)	0.10
Q3 2013	721.56	(1.0 %)	306.46	(7.0 %)	183.32	(17.0 %)	0.17
Q4 2013	692.93	(21.0 %)	262.97	(14.8 %)	156.83	8.9 %	0.15
2013	2,931.17	(17.6 %)	1,153.07	(17.3 %)	681.46	(31.1 %)	0.63
Q1 2014	924.09	10.6 %	402.77	7.2 %	247.86	4.3 %	0.23
Q2 2014	774.21	13.7 %	294.24	41.4 %	121.34	17.0 %	0.11

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
2004	2,483.56	87.7 %	1,211.02	98.1 %	1,088.80	104.9 %	1.01
2005	4,196.82	69.0 %	2,029.64	67.6 %	1,775.48	63.1 %	1.64
2006	4,352.59	3.7 %	2,122.71	4.6 %	1,813.95	2.2 %	1.68
2007	4,925.93	13.2 %	2,408.01	13.4 %	2,008.58	10.7 %	1.86
2008	5,610.77	13.9 %	2,845.18	18.2 %	2,356.25	17.3 %	2.18
2009	5,464.05	(2.6 %)	2,507.14	(11.9 %)	2,122.68	(9.9 %)	1.97
2010	4,141.98	(24.2 %)	1,764.26	(29.6 %)	1,455.71	(31.4 %)	1.35
2011	3,312.51	(20.0 %)	1,369.01	(22.4 %)	1,087.94	(25.3 %)	1.01
2012	3,557.07	7.4 %	1,393.71	1.8 %	988.54	(9.1 %)	0.92
2013	2,931.17	(17.6 %)	1,153.07	(17.3 %)	681.46	(31.1 %)	0.63

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2005	-	-	-
Q2 2005	-	-	-
Q3 2005	-	-	-
Q4 2005	-	-	-
2005	48.36 %	44.54 %	42.31 %
Q1 2006	-	-	-
Q2 2006	-	-	-
Q3 2006	-	-	-
Q4 2006	-	-	-
2006	48.77 %	47.53 %	41.68 %
Q1 2007	-	-	-
Q2 2007	-	-	-
Q3 2007	-	-	-
Q4 2007	48.88 %	46.95 %	40.78 %
2007	48.88 %	46.95 %	40.78 %
Q1 2008	48.44 %	46.44 %	38.82 %
Q2 2008	48.96 %	46.74 %	39.13 %
Q3 2008	51.22 %	48.61 %	40.17 %
Q4 2008	50.71 %	48.04 %	42.00 %
2008	50.71 %	48.04 %	42.00 %
Q1 2009	49.36 %	46.59 %	41.47 %
Q2 2009	47.75 %	45.03 %	40.72 %
Q3 2009	45.49 %	42.72 %	39.17 %
Q4 2009	45.88 %	43.22 %	38.85 %
2009	45.88 %	43.22 %	38.85 %
Q1 2010	46.04 %	43.25 %	39.04 %
Q2 2010	45.78 %	42.93 %	38.29 %
Q3 2010	44.45 %	41.53 %	36.20 %
Q4 2010	42.59 %	40.02 %	35.15 %
2010	42.59 %	40.02 %	35.15 %
Q1 2011	41.81 %	39.46 %	33.66 %
Q2 2011	40.21 %	37.78 %	32.82 %
Q3 2011	40.45 %	37.95 %	32.49 %
Q4 2011	41.33 %	38.76 %	32.84 %
2011	41.33 %	38.76 %	32.84 %
Q1 2012	42.47 %	39.68 %	34.33 %
Q2 2012	40.37 %	37.50 %	32.43 %
Q3 2012	40.93 %	37.66 %	30.86 %
Q4 2012	39.18 %	35.45 %	26.20 %
2012	39.18 %	35.45 %	26.20 %
Q1 2013	39.77 %	35.51 %	24.88 %
Q2 2013	39.14 %	34.94 %	20.80 %
Q3 2013	38.49 %	34.52 %	21.47 %
Q4 2013	39.34 %	35.77 %	23.25 %
2013	39.34 %	35.77 %	23.25 %
Q1 2014	39.09 %	35.67 %	22.91 %
Q2 2014	40.68 %	36.30 %	22.79 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2004	48.76 %	45.10 %	43.84 %
2005	48.36 %	44.54 %	42.31 %
2006	48.77 %	47.53 %	41.68 %
2007	48.88 %	46.95 %	40.78 %
2008	50.71 %	48.04 %	42.00 %
2009	45.88 %	43.22 %	38.85 %
2010	42.59 %	40.02 %	35.15 %
2011	41.33 %	38.76 %	32.84 %
2012	39.18 %	35.45 %	26.20 %
2013	39.34 %	35.77 %	23.25 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2005	-	-	-
Q2 2005	-	-	-
Q3 2005	-	-	-
Q4 2005	-	-	-
Q1 2006	47.19 %	45.42 %	44.95 %
Q2 2006	48.43 %	46.02 %	45.68 %
Q3 2006	-	-	-
Q4 2006	-	-	-
Q1 2007	49.60 %	48.11 %	46.51 %
Q2 2007	53.77 %	52.18 %	45.29 %
Q3 2007	46.74 %	45.72 %	42.03 %
Q4 2007	47.21 %	43.56 %	31.76 %
Q1 2008	47.54 %	45.63 %	36.69 %
Q2 2008	53.92 %	51.43 %	44.35 %
Q3 2008	54.84 %	52.46 %	45.91 %
Q4 2008	44.72 %	40.73 %	39.43 %
Q1 2009	41.43 %	39.08 %	34.30 %
Q2 2009	48.09 %	45.78 %	41.71 %
Q3 2009	46.88 %	44.36 %	40.44 %
Q4 2009	46.48 %	42.87 %	38.00 %
Q1 2010	41.79 %	38.88 %	34.82 %
Q2 2010	47.63 %	45.19 %	39.21 %
Q3 2010	41.19 %	38.60 %	31.82 %
Q4 2010	39.09 %	36.79 %	33.98 %
Q1 2011	38.38 %	36.32 %	28.59 %
Q2 2011	42.68 %	39.82 %	37.63 %
Q3 2011	42.46 %	39.52 %	30.12 %
Q4 2011	42.42 %	39.89 %	35.71 %
Q1 2012	42.32 %	39.48 %	33.70 %
Q2 2012	35.81 %	32.72 %	30.55 %
Q3 2012	45.21 %	40.35 %	22.54 %
Q4 2012	35.22 %	30.78 %	16.43 %
Q1 2013	44.94 %	39.88 %	28.43 %
Q2 2013	30.56 %	28.44 %	15.23 %
Q3 2013	42.47 %	38.61 %	25.41 %
Q4 2013	37.95 %	35.08 %	22.63 %
Q1 2014	43.59 %	39.16 %	26.82 %
Q2 2014	38.01 %	31.85 %	15.67 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2005	-	-	-	-
Q2 2005	-	-	-	-
Q3 2005	-	-	-	-
Q4 2005	-	-	-	-
Q1 2006	1,080.00	-	-	10.00
Q2 2006	1,080.00	-	-	10.37
Q3 2006	-	-	-	-
Q4 2006	-	-	-	-
Q1 2007	1,080.00	-	-	10.22
Q2 2007	1,080.00	-	-	10.66
Q3 2007	1,080.00	-	-	9.79
Q4 2007	1,080.00	1.86	1.86	10.19
Q1 2008	1,080.00	1.89	1.89	10.60
Q2 2008	1,080.00	2.09	2.09	9.74
Q3 2008	1,080.00	2.11	2.11	10.41
Q4 2008	1,080.00	2.18	2.18	10.87
Q1 2009	1,080.00	2.16	2.16	11.26
Q2 2009	1,080.00	2.09	2.09	11.83
Q3 2009	1,080.00	2.00	2.00	12.40
Q4 2009	1,080.00	1.97	1.97	12.83
Q1 2010	1,080.00	1.94	1.94	13.20
Q2 2010	1,080.00	1.77	1.77	12.61
Q3 2010	1,080.00	1.47	1.47	12.87
Q4 2010	1,080.00	1.35	1.35	13.18
Q1 2011	1,080.00	1.23	1.23	13.43
Q2 2011	1,080.00	1.10	1.10	13.71
Q3 2011	1,080.00	1.05	1.05	13.92
Q4 2011	1,080.00	1.01	1.01	14.19
Q1 2012	1,080.00	1.03	1.03	14.46
Q2 2012	1,080.00	1.06	1.06	14.77
Q3 2012	1,080.00	1.05	1.00	14.97
Q4 2012	1,080.00	0.92	0.86	15.10
Q1 2013	1,080.00	0.86	0.81	15.32
Q2 2013	1,080.00	0.65	0.60	15.42
Q3 2013	1,080.00	0.62	0.62	15.59
Q4 2013	1,080.00	0.63	0.63	15.73
Q1 2014	1,080.00	0.64	0.64	15.96
Q2 2014	1,080.00	0.66	0.66	16.08

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2004	1,080.00	1.01	1.01	5.05
2005	1,080.00	1.64	1.64	9.65
2006	1,080.00	1.68	1.68	9.83
2007	1,080.00	1.86	1.86	10.19
2008	1,080.00	2.18	2.18	10.87
2009	1,080.00	1.97	1.97	12.83
2010	1,080.00	1.35	1.35	13.18
2011	1,080.00	1.01	1.01	14.19
2012	1,080.00	0.92	0.86	15.10
2013	1,080.00	0.63	0.63	15.73

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2005	-	-	-
Q2 2005	-	-	-
Q3 2005	-	-	-
Q4 2005	-	-	-
Q1 2006	-	-	-
Q2 2006	-	-	-
Q3 2006	-	-	-
Q4 2006	-	-	-
Q1 2007	-	-	-
Q2 2007	-	-	-
Q3 2007	-	-	-
Q4 2007	19.77	19.77	3.61
Q1 2008	16.71	16.71	2.97
Q2 2008	12.71	12.71	2.72
Q3 2008	11.43	11.43	2.32
Q4 2008	6.83	6.83	1.37
Q1 2009	6.08	6.08	1.16
Q2 2009	8.48	8.48	1.50
Q3 2009	7.94	7.94	1.28
Q4 2009	7.15	7.15	1.09
Q1 2010	7.29	7.29	1.07
Q2 2010	6.65	6.65	0.94
Q3 2010	6.93	6.93	0.79
Q4 2010	6.68	6.68	0.68
Q1 2011	7.84	7.84	0.72
Q2 2011	7.12	7.12	0.57
Q3 2011	5.98	5.98	0.45
Q4 2011	7.20	7.20	0.51
Q1 2012	12.78	12.78	0.91
Q2 2012	8.57	8.57	0.61
Q3 2012	8.52	8.97	0.60
Q4 2012	9.01	9.56	0.55
Q1 2013	9.54	10.16	0.54
Q2 2013	15.90	17.29	0.67
Q3 2013	16.31	16.31	0.65
Q4 2013	15.61	15.61	0.63
Q1 2014	19.52	19.52	0.78
Q2 2014	18.80	18.80	0.77

Period	P/E	Adjusted P/E	Price/book
2004	-	-	-
2005	-	-	-
2006	-	-	-
2007	19.77	19.77	3.61
2008	6.83	6.83	1.37
2009	7.15	7.15	1.09
2010	6.68	6.68	0.68
2011	7.20	7.20	0.51
2012	9.01	9.56	0.55
2013	15.61	15.61	0.63

Business Segments (Million)

Compared With The

Period	property Leasing	Sale of Land	Sale of residential properties
Q1 2007	-	560.55	352.43
Q2 2007	-	646.65	395.12
Q1 2008	-	916.32	317.85
Q2 2008	-	1,042.34	508.02
Q3 2008	-	1,455.49	111.56
Q4 2008	-	1,206.25	52.96
Q1 2009	-	1,117.60	120.11
Q2 2009	-	1,330.76	151.61
Q3 2009	-	1,400.67	122.80
Q4 2009	-	1,095.70	124.80
Q1 2010	-	1,026.97	117.97
Q2 2010	-	980.19	134.24
Q3 2010	-	831.26	78.95
Q4 2010	-	926.88	45.51
Q1 2011	5.23	938.54	11.39
Q2 2011	2.78	757.68	30.77
Q3 2011	3.30	729.91	21.98
Q4 2011	3.69	794.04	13.20
Q1 2012	4.66	850.75	12.79
Q2 2012	5.04	1,072.63	5.84
Q3 2012	17.35	708.06	3.12
Q4 2012	25.74	847.56	3.55
Q1 2013	24.92	810.91	-
Q2 2013	27.62	652.78	0.46
Q3 2013	27.81	693.75	-
Q4 2013	28.09	664.84	-
Q1 2014	31.22	892.87	-
Q2 2014	31.02	735.19	8.00

Period	property Leasing	Sale of Land	Sale of residential properties
2005	-	3,190.79	1,006.03
2006	-	3,201.84	1,150.75
2007	-	3,604.76	1,321.18
2008	-	4,620.39	990.38
2009	-	4,944.73	519.32
2010	-	3,765.30	376.68
2011	15.00	3,220.17	77.35
2012	52.78	3,479.00	25.29
2013	108.43	2,822.28	0.46

Financial Ratios

	Current
Market Cap (M Riyal)	13,910.40
Enterprise Value (EV) (M)	18,429.39
Shares Outstanding ((M))	1,080.00
EPS ( Riyal) (TTM)	0.57
Book Value (BV) ( Riyal)	18.79
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	22.78
P/E (TTM)	22.78
Price/book	0.69
Return on Average Assets (%) (TTM)	1.8
Return on Average Equity (%) (TTM)	3.1

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Dar Al Arkan posts higher net profit at SAR 369.2m in I2 of 2014

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Share Price

Dar Alarkan Real Estate Development Co. (DAR ALARKAN)

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) 2014 Q2

Financial Ratios

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Dar Al Arkan posts higher net profit at SAR 369.2m in I2 of 2014

View other reports

Share Price

Dar Alarkan Real Estate Development Co. (DAR ALARKAN)

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 2014

Revenue by Business Segment (Latest) 2014 Q2

Financial Ratios

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Business Segments (Million)