Al-Baha widens 2020 loss to SAR 29.8 mln

22/04/2021 Argaam Exclusive

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Al-Baha Investment and Development Co. (ALBAHA)

Al-Baha Investment and Development Co. widened net losses after Zakat and tax to SAR 29.8 million for 2020, from SAR 5 million a year earlier.

The increased losses were attributed to higher provisions to offset losses from the exchange of assets with Al Sata'a Modern Contracting Company Ltd., after confirming the judgment from the court of appeal.

The company also reported an impairment of investment properties and a loss in the value of goodwill for subsidiaries, due to the COVID-19 repercussions and its direct impact on the real estate and leasing sector.

Lower other income and an expected credit loss of SAR 3.2 million also weighed negatively on the annual results.

Financials (M)

Item	2019	2020	Change‬
Revenues	10.44	11.18	7.1 %
Gross Income	5.68	6.31	11.1 %
Operating Income	2.22	(0.75)	(133.7 %)
Net Income	(5.33)	(28.59)	(436.9 %)
Average Shares	2,964.00	2,964.00	-
EPS (Halala)	(0.18)	(0.96)	(436.9 %)

In Q4 2020, the company widened net losses to SAR 30.5 million, from SAR 4.6 million in prior-year period.

Shareholders’ equity, excluding minority interest, decreased by 21% to SAR 107.69 million in 2020, from SAR 136.29 million a year earlier.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2019	Q4 2020	Change‬
Revenues	2.74	2.91	6.2 %
Gross Income	1.22	1.27	3.5 %
Operating Income	0.21	(3.49)	(1731.8 %)
Net Income	(4.86)	(29.28)	(502.9 %)
Average Shares	2,964.00	2,964.00	-
EPS (Halala)	(0.16)	(0.99)	(502.9 %)

Item	Q3 2020	Q4 2020	Change‬
Revenues	2.62	2.91	11.2 %
Gross Income	1.51	1.27	(16.3 %)
Operating Income	0.68	(3.49)	(610.5 %)
Net Income	0.11	(29.28)	(27983.8 %)
Average Shares	2,964.00	2,964.00	-
EPS (Halala)	0.00	(0.99)	(27983.8 %)

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Halala)
Q1 2011	-	-	-	-	(1.86)	50.7 %	(0.07)
Q2 2011	-	-	-	-	(1.60)	(7.9 %)	(0.06)
Q3 2011	0.16	3.2 %	(1.08)	(33.6 %)	(3.96)	(307.3 %)	(0.16)
Q4 2011	-	-	(0.29)	5.8 %	1.67	931.8 %	0.07
2011	0.16	3.2 %	(1.38)	(22.7 %)	(5.74)	10.7 %	(0.23)
Q1 2012	-	-	-	-	(1.18)	36.5 %	(0.05)
Q2 2012	-	-	-	-	(1.46)	8.9 %	(0.06)
Q3 2012	0.11	(34.8 %)	(0.82)	24.5 %	(1.54)	61.2 %	(0.06)
Q4 2012	-	-	(0.31)	(6.1 %)	(1.29)	(177.2 %)	(0.05)
2012	0.11	(34.8 %)	(1.13)	18.0 %	(5.46)	4.9 %	(0.22)
Q1 2013	-	-	-	-	(69.94)	(5,832.2 %)	(2.78)
Q2 2013	-	-	-	-	(1.07)	26.8 %	(0.04)
Q3 2013	-	-	(0.24)	71.0 %	(1.42)	7.3 %	(0.06)
Q4 2013	-	-	-	-	(5.85)	(353.2 %)	(0.23)
2013	-	-	-	-	(78.28)	(1,333.2 %)	(3.12)
Q1 2014	-	-	-	-	(1.11)	98.4 %	(0.04)
Q2 2014	-	-	-	-	(1.16)	(8.9 %)	(0.05)
Q3 2014	-	-	-	-	(0.95)	33.4 %	(0.04)
Q4 2014	-	-	-	-	(0.88)	84.9 %	(0.04)
2014	-	-	-	-	(4.10)	94.8 %	(0.16)
Q1 2015	0.41	-	0.15	-	0.04	103.4 %	0.00
Q2 2015	0.62	-	0.13	-	0.01	100.6 %	0.00
Q3 2015	1.63	-	0.10	-	0.01	100.5 %	0.00
Q4 2015	2.86	-	0.23	-	0.02	101.9 %	0.00
2015	5.52	-	0.61	-	0.07	101.6 %	0.00
Q1 2016	1.68	308.5 %	0.13	(17.8 %)	0.01	(76.3 %)	0.00
Q2 2016	1.51	143.9 %	0.14	7.0 %	0.01	(14.3 %)	0.00
Q3 2016	2.88	77.1 %	0.18	81.4 %	0.01	20.0 %	0.00
Q4 2016	2.81	(2.0 %)	0.17	(26.0 %)	(0.15)	(994.1 %)	(0.01)
2016	8.88	60.8 %	0.61	0.2 %	0.03	(58.2 %)	0.00
Q1 2017	2.21	31.4 %	0.15	17.6 %	0.01	(33.3 %)	0.00
Q2 2017	0.57	(62.1 %)	0.57	314.5 %	(0.33)	(5550.0 %)	(0.01)
Q3 2017	0.36	(87.6 %)	0.36	103.4 %	(0.26)	(4416.7 %)	(0.01)
Q4 2017	4.23	50.8 %	1.61	843.9 %	4.57	3105.3 %	0.16
2017	7.37	(17.0 %)	2.69	341.1 %	3.99	14139.3 %	0.14
Q1 2018	3.01	36.2 %	1.39	845.6 %	0.61	10000.0 %	0.02
Q2 2018	2.87	401.9 %	1.56	173.4 %	(12.19)	(3,627.8 %)	(0.41)
Q3 2018	2.29	540.8 %	1.04	190.5 %	0.28	206.6 %	0.01
Q4 2018	1.50	(64.5 %)	0.80	(50.3 %)	(0.02)	(100.4 %)	0.00
2018	9.68	31.3 %	4.80	78.3 %	(11.33)	(384.0 %)	(0.38)
Q1 2019	2.40	(20.3 %)	1.33	(4.5 %)	(0.69)	(213.4 %)	(0.02)
Q2 2019	2.45	(14.6 %)	1.40	(10.4 %)	0.09	100.7 %	0.00
Q3 2019	2.84	23.9 %	1.73	66.0 %	0.13	(54.3 %)	0.00
Q4 2019	2.74	82.4 %	1.22	52.6 %	(4.86)	(26,877.8 %)	(0.16)
2019	10.44	7.8 %	5.68	18.4 %	(5.33)	53.0 %	(0.18)
Q1 2020	2.76	14.8 %	1.67	25.8 %	0.27	139.4 %	0.01
Q2 2020	2.89	17.9 %	1.86	32.8 %	0.31	238.5 %	0.01
Q3 2020	2.62	(7.9 %)	1.51	(12.3 %)	0.11	(16.7 %)	0.00
Q4 2020	2.91	6.2 %	1.27	3.5 %	(29.28)	(502.9 %)	(0.99)
2020	11.18	7.1 %	6.31	11.1 %	(28.59)	(436.9 %)	(0.96)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Halala)
2011	0.16	3.2 %	(1.38)	(22.7 %)	(5.74)	10.7 %	(0.23)
2012	0.11	(34.8 %)	(1.13)	18.0 %	(5.46)	4.9 %	(0.22)
2013	-	-	-	-	(78.28)	(1,333.2 %)	(3.12)
2014	-	-	-	-	(4.10)	94.8 %	(0.16)
2015	5.52	-	0.61	-	0.07	101.6 %	0.00
2016	8.88	60.8 %	0.61	0.2 %	0.03	(58.2 %)	0.00
2017	7.37	(17.0 %)	2.69	341.1 %	3.99	14139.3 %	0.14
2018	9.68	31.3 %	4.80	78.3 %	(11.33)	(384.0 %)	(0.38)
2019	10.44	7.8 %	5.68	18.4 %	(5.33)	53.0 %	(0.18)
2020	11.18	7.1 %	6.31	11.1 %	(28.59)	(436.9 %)	(0.96)

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2011	(718.59 %)	(2630.13 %)	(2892.95 %)
Q2 2011	(718.59 %)	(2837.18 %)	(2967.95 %)
Q3 2011	(865.22 %)	(4380.75 %)	(4729.19 %)
Q4 2011	(854.04 %)	(3952.80 %)	(3565.84 %)
2011	(854.04 %)	(4705.59 %)	(3565.84 %)
Q1 2012	(854.04 %)	(3526.71 %)	(3144.10 %)
Q2 2012	(854.04 %)	(3447.20 %)	(3055.28 %)
Q3 2012	(1057.14 %)	(2997.14 %)	(2380.00 %)
Q4 2012	(1074.29 %)	(2841.90 %)	(5201.90 %)
2012	(1074.29 %)	(2841.90 %)	(5201.90 %)
Q1 2013	(1074.29 %)	(2924.76 %)	(5261.90 %)
Q2 2013	(1074.29 %)	(2573.33 %)	(4889.52 %)
Q3 2013	-	-	-
Q4 2013	-	-	-
2013	-	-	-
Q1 2014	-	-	-
Q2 2014	-	-	-
Q3 2014	-	-	-
Q4 2014	-	-	-
2014	-	-	-
Q1 2015	36.89 %	(312.14 %)	(717.23 %)
Q2 2015	27.26 %	(62.37 %)	(173.33 %)
Q3 2015	14.22 %	(11.62 %)	(31.37 %)
Q4 2015	11.03 %	1.25 %	1.21 %
2015	11.03 %	1.25 %	1.21 %
Q1 2016	8.57 %	0.59 %	0.56 %
Q2 2016	7.69 %	0.51 %	0.48 %
Q3 2016	7.50 %	0.45 %	0.43 %
Q4 2016	6.87 %	(1.46 %)	(1.48 %)
2016	6.87 %	0.33 %	0.32 %
Q1 2017	6.72 %	(1.41 %)	(1.42 %)
Q2 2017	12.58 %	0.32 %	19.45 %
Q3 2017	20.99 %	3.30 %	23.26 %
Q4 2017	36.50 %	11.73 %	54.10 %
2017	36.50 %	11.73 %	25.39 %
Q1 2018	48.13 %	22.42 %	56.14 %
Q2 2018	47.04 %	26.27 %	27.71 %
Q3 2018	45.20 %	25.64 %	27.70 %
Q4 2018	49.55 %	32.34 %	9.98 %
2018	49.56 %	32.35 %	9.98 %
Q1 2019	52.20 %	43.69 %	(3.61 %)
Q2 2019	52.84 %	54.86 %	(3.91 %)
Q3 2019	57.15 %	68.57 %	(5.31 %)
Q4 2019	54.42 %	70.70 %	(16.03 %)
2019	54.43 %	70.69 %	(16.03 %)
Q1 2020	55.80 %	70.86 %	(6.63 %)
Q2 2020	57.71 %	71.52 %	(4.43 %)
Q3 2020	56.97 %	69.81 %	(4.72 %)
Q4 2020	56.48 %	326.09 %	(53.82 %)
2020	56.48 %	326.09 %	(53.81 %)

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2011	(854.04 %)	(4705.59 %)	(3565.84 %)
2012	(1074.29 %)	(2841.90 %)	(5201.90 %)
2013	-	-	-
2014	-	-	-
2015	11.03 %	1.25 %	1.21 %
2016	6.87 %	0.33 %	0.32 %
2017	36.50 %	11.73 %	25.39 %
2018	49.56 %	32.35 %	9.98 %
2019	54.43 %	70.69 %	(16.03 %)
2020	56.48 %	326.09 %	(53.81 %)

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2011	-	-	-
Q2 2011	-	-	-
Q3 2011	(671.43 %)	(1873.29 %)	(2456.52 %)
Q4 2011	-	-	-
Q1 2012	-	-	-
Q2 2012	-	-	-
Q3 2012	(777.14 %)	(583.81 %)	(1461.90 %)
Q4 2012	-	-	-
Q1 2013	-	-	-
Q2 2013	-	-	-
Q3 2013	-	-	-
Q4 2013	-	-	-
Q1 2014	-	-	-
Q2 2014	-	-	-
Q3 2014	-	-	-
Q4 2014	-	-	-
Q1 2015	36.89 %	9.22 %	9.22 %
Q2 2015	20.84 %	1.13 %	1.13 %
Q3 2015	5.96 %	0.31 %	0.31 %
Q4 2015	8.07 %	0.66 %	0.59 %
Q1 2016	7.43 %	0.53 %	0.53 %
Q2 2016	9.14 %	0.40 %	0.40 %
Q3 2016	6.10 %	0.21 %	0.21 %
Q4 2016	6.10 %	(5.38 %)	(5.42 %)
Q1 2017	6.65 %	0.27 %	0.27 %
Q2 2017	100.00 %	29.02 %	312.59 %
Q3 2017	100.00 %	48.88 %	(72.35 %)
Q4 2017	38.15 %	12.24 %	57.98 %
Q1 2018	46.15 %	32.30 %	20.12 %
Q2 2018	54.48 %	37.79 %	3.55 %
Q3 2018	45.34 %	26.42 %	12.03 %
Q4 2018	53.40 %	31.03 %	(1.20 %)
Q1 2019	55.29 %	75.15 %	(28.60 %)
Q2 2019	57.14 %	76.18 %	3.71 %
Q3 2019	60.73 %	76.28 %	4.43 %
Q4 2019	44.69 %	56.12 %	(43.92 %)
Q1 2020	60.57 %	75.19 %	9.83 %
Q2 2020	64.35 %	77.94 %	10.65 %
Q3 2020	57.85 %	69.51 %	4.01 %
Q4 2020	43.55 %	1,041.39 %	(230.25 %)

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Halala)	Adjusted EPS (Halala)	Book Value (BV)
Q1 2011	2,511.87	(0.18)	(0.18)	0.04
Q2 2011	2,511.87	(0.18)	(0.18)	0.04
Q3 2011	2,511.87	(0.30)	(0.30)	0.03
Q4 2011	2,511.87	(0.23)	(0.23)	0.04
Q1 2012	2,511.87	(0.20)	(0.20)	0.03
Q2 2012	2,511.87	(0.20)	(0.20)	0.03
Q3 2012	2,511.87	(0.10)	(0.10)	0.03
Q4 2012	2,511.87	(0.22)	(0.22)	0.03
Q1 2013	2,511.87	(2.95)	(0.22)	0.01
Q2 2013	2,511.87	(2.94)	(0.20)	0.01
Q3 2013	2,511.87	(2.93)	(0.20)	0.01
Q4 2013	2,511.87	(3.12)	(0.38)	0.00
Q1 2014	2,511.87	(0.38)	(0.38)	0.00
Q2 2014	2,511.87	(0.38)	(0.38)	0.00
Q3 2014	2,511.87	(0.36)	(0.36)	0.00
Q4 2014	2,511.87	(0.16)	(0.16)	0.00
Q1 2015	2,511.87	(0.12)	(0.12)	0.00
Q2 2015	2,511.87	(0.07)	(0.07)	0.00
Q3 2015	2,511.87	(0.03)	(0.03)	0.00
Q4 2015	2,511.87	0.00	0.00	0.00
Q1 2016	2,511.87	0.00	0.00	0.00
Q2 2016	2,511.87	0.00	0.00	0.00
Q3 2016	2,511.87	0.00	0.00	0.00
Q4 2016	2,511.87	(0.01)	(0.01)	0.00
Q1 2017	2,850.97	0.00	0.00	0.00
Q2 2017	2,850.97	(0.02)	0.06	0.05
Q3 2017	2,850.97	(0.03)	0.05	0.05
Q4 2017	2,850.97	0.14	0.14	0.05
Q1 2018	2,964.00	0.15	0.15	0.05
Q2 2018	2,964.00	(0.25)	0.10	0.05
Q3 2018	2,964.00	(0.23)	0.12	0.05
Q4 2018	2,964.00	(0.38)	0.03	0.05
Q1 2019	2,964.00	(0.43)	(0.01)	0.05
Q2 2019	2,964.00	(0.01)	(0.01)	0.05
Q3 2019	2,964.00	(0.02)	(0.02)	0.05
Q4 2019	2,964.00	(0.18)	(0.06)	0.05
Q1 2020	2,964.00	(0.15)	(0.02)	0.05
Q2 2020	2,964.00	(0.14)	(0.02)	0.05
Q3 2020	2,964.00	(0.14)	(0.02)	0.05
Q4 2020	2,964.00	(0.96)	(0.20)	0.04

Period	Shares Outstanding (M)	EPS (Halala)	Adjusted EPS (Halala)	Book Value (BV)
2011	2,511.87	(0.23)	(0.23)	0.04
2012	2,511.87	(0.22)	(0.22)	0.03
2013	2,511.87	(3.12)	(0.38)	0.00
2014	2,511.87	(0.16)	(0.16)	0.00
2015	2,511.87	0.00	0.00	0.00
2016	2,511.87	0.00	0.00	0.00
2017	2,850.97	0.14	0.07	0.05
2018	2,964.00	(0.38)	0.03	0.05
2019	2,964.00	(0.18)	(0.06)	0.05
2020	2,964.00	(0.96)	(0.20)	0.04

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2011	NEG	NEG	5.18
Q2 2011	NEG	NEG	5.76
Q3 2011	NEG	NEG	7.51
Q4 2011	NEG	NEG	6.98
Q1 2012	NEG	NEG	9.81
Q2 2012	NEG	NEG	6.79
Q3 2012	NEG	NEG	7.83
Q4 2012	NEG	NEG	7.59
Q1 2013	NEG	NEG	29.31
Q2 2013	NEG	NEG	31.24
Q3 2013	NEG	NEG	34.46
Q4 2013	NEG	NEG	59.94
Q1 2014	NEG	NEG	69.68
Q2 2014	NEG	NEG	83.89
Q3 2014	NEG	NEG	100.72
Q4 2014	NEG	NEG	123.46
Q1 2015	NEG	NEG	122.26
Q2 2015	NEG	NEG	122.10
Q3 2015	NEG	NEG	121.88
Q4 2015	More than 100	More than 100	121.32
Q1 2016	More than 100	More than 100	121.05
Q2 2016	More than 100	More than 100	120.86
Q3 2016	More than 100	More than 100	120.68
Q4 2016	NEG	NEG	120.47
Q1 2017	NEG	NEG	120.28
Q2 2017	NEG	More than 100	2.71
Q3 2017	NEG	More than 100	4.08
Q4 2017	More than 100	More than 100	3.31
Q1 2018	98.46	98.46	2.94
Q2 2018	NEG	More than 100	3.07
Q3 2018	NEG	92.98	2.26
Q4 2018	NEG	More than 100	3.56
Q1 2019	NEG	NEG	3.22
Q2 2019	NEG	NEG	2.98
Q3 2019	NEG	NEG	2.50
Q4 2019	NEG	NEG	2.69
Q1 2020	NEG	NEG	2.10
Q2 2020	NEG	NEG	2.20
Q3 2020	NEG	NEG	5.42
Q4 2020	NEG	NEG	7.72

Period	P/E	Adjusted P/E	Price/book
2011	NEG	NEG	6.98
2012	NEG	NEG	7.59
2013	NEG	NEG	59.94
2014	NEG	NEG	123.46
2015	More than 100	More than 100	121.32
2016	More than 100	More than 100	120.47
2017	More than 100	More than 100	3.31
2018	NEG	More than 100	3.56
2019	NEG	NEG	2.69
2020	NEG	NEG	7.72

Business Segments (Million)

Compared With The

Period	Rents
Q1 2019	2.40
Q2 2019	2.45
Q3 2019	2.84
Q4 2019	2.74
Q1 2020	2.76
Q2 2020	2.89
Q3 2020	2.62
Q4 2020	2.91

Period	Rents
2018	9.68
2019	10.44
2020	11.18

Financial Ratios

	Current
Market Cap (M Riyal)	386.10
Enterprise Value (EV) (M)	398.27
Shares Outstanding ((M))	2,970.00
EPS (Halala) (TTM)	0.13
Book Value (BV) ( Riyal)	0.07
Par Value ( Halala)	10.00
Adjusted P/E (Last12)	More than 100
P/E (TTM)	More than 100
Price/book	1.80
Return on Average Assets (%) (TTM)	1.3
Return on Average Equity (%) (TTM)	1.9

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Al-Baha widens 2020 loss to SAR 29.8 mln

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Al-Baha Investment and Development Co. (ALBAHA)

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Al-Baha widens 2020 loss to SAR 29.8 mln

View other reports

Share Price

Al-Baha Investment and Development Co. (ALBAHA)

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) Q4 2020

Revenue by Business Segment (Latest) 2020 Q4

Financial Ratios

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Business Segments (Million)