Home Afrika Ltd
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Par Value:
Closing Price: 0.40
Total Shares Issued: 405255320.00
Market Capitalization: 162,102,128
EPS: -0.68
PE: -0.588
Home Afrika reports HY Earnings through 30th June 2021 versus 30th June 2020
HY 2021 Revenue from contracts with Customers 28.200m versus 43.022219m
HY 2021 [cost of Sales] [31.906519m] versus [28.871055m]
HY Gross Profit [3.706519m] versus 14.151164m
HY Selling and Distribution expenses [8.133012m] versus [14.758147m]
HY Administrative expenses [122.683755m] versus [98.837399m]
HY Other Operating expenses [19.137883m] versus [20.952607m]
HY Operating [Loss] [147.943458m] versus [113.161837m]
HY Finance Costs [74.858725m] versus [129.997466m]
HY Loss before Tax [222.802183m] versus [243.159303m]
HY Loss for the Year [228.840570m] [243.201198m]
HY EPS [0.45] versus [0.49]
Total Equity [2.504269195b] versus [2.281428625b]
Home Afrika reports HY 2020 Earnings
HY Revenue 43.022m versus 103.26m
HY Gross Profit 14.151m versus 43.025m
HY Admin Expenses [98.837m] versus [75.009m]
HY Other Operating Expenses [20.953m] versus [15.995m]
HY Operating Loss [113.162m] versus [58.055m]
HY Finance Costs [129.997m] versus [36.577m]
HY Loss for period [243.159m] versus [94.632m]
HY EPS [0.49] versus [0.15]
Conclusions
Make your own.
FY Revenue 109.038m vs. 262.787m -58.507%
FY Cost of sales [82.281m] vs. [229.006m] -64.070%
FY Gross profit 26.757m vs. 33.781m -20.793%
FY Fair value gain on investment property vs. 60.829m
FY Other operating income 7.858m vs. 9.922m -20.802%
FY Selling and distribution expenses [13.081m] vs. [38.682m] -66.183%
FY Administrative expenses [222.994m] vs. [169.054m] +31.907%
FY Other operating expenses [29.767m] vs. [29.538m] +0.775%
FY Operating [Loss] [231.227m] vs. [132.742m] +74.193%
FY Finance costs [160.678m] vs. [88.272m] +82.026%
FY [Loss] before tax [391.905m] vs. [221.015m] +77.321%
FY [Loss] for the year [346.205m] vs. [181.435m] +90.815%
FY [Loss] attributable to owners of the parent [276.020m] vs. [179.787m] +53.526%
[Loss] per share basic and diluted [0.68] vs. [0.44] +54.545%
Total Assets 4.502462b vs. 4.477828b +0.550%
Total Equity [1.052370b] vs. [677.871m] +55.246%
Cash and cash equivalents at end of year 9.338m vs. 19.640m -52.454%
Home Afrika Limited H1 2018 results through 30th June 2018 vs. 30th June 2017
H1 Revenue 106.718m vs. 92.474m +15.403%
H1 Cost of sales [69.776m] vs. [75.274m] -7.304%
H1 Gross profit/ [loss] 36.942m vs. 17.200m +114.779%
H1 Other operating income 3.925m vs. 7.638m -48.612%
H1 Other [loss] [84.917m] vs. [82.676m] -2.711%
H1 [Loss] before tax [138.431m] vs. [130.266m] -6.268%
H1 [Loss] for the period [111.603m] vs. [102.919m] -8.438%
H1 [Loss] per share [0.24] vs. [0.22] -9.091%
Total Equity [505.090m]
Cash and cash equivalents at the end of the period 11.591m
FY Revenue 262.788m vs. 222.187m +18.273%
FY Cost of sales [229.006m] vs. [160.276m] +42.882%
FY Gross profit 33.781m vs. 61.909m -45.434%
FY Fair value gain/ [loss] on investment property 60.829m vs. [8.646m] +803.551%
FY Other operating income 9.922m vs. 13.183m -24.736%
FY Selling and distribution expenses [38.682m] vs. [19.887m] +94.509%
FY Administrative expenses [169.054m] vs. [100.476m] +68.253%
FY Other operating expenses [29.538m] vs. [31.779m] -7.052%
FY Operating [Loss] [132.742m] vs. [85.697m] +54.897%
FY Finance costs [88.272m] vs. [121.310m] -27.234%
FY [Loss] before tax [221.015m] vs. [207.007m] +6.767%
FY [Loss] for the year [181.435m] vs. [168.458m] +7.703%
FY [Loss] attributable to owners of the parent [179.787m] vs. [156.079m] +15.190%
FY [Loss] attributable to NCI [1.648m] vs0 [12.379m] -86.687%
[Loss] per share basic and diluted [0.44] vs. [0.39] +12.821%
Total Assets 4.477828b vs. 3.930011b +13.939%
Total Equity [391.602m] vs. [210.167m] +86.329%
Increase/ [decrease] in cash and cash equivalents 11.654m vs. [36.505m] +131.924%
Company Commentary
Gross Sales for the year to Dec 2017 increased by 8% to 921m from 849m in 2016
Above sales are largely booked as deposits for plots in the balance sheet and will gradually find their way to the Profit and Loss Statement upon full purchase price payment
Revenues +18% 263m versus 222m.
Cost of Sales increased by 43% 229m versus 160m
Migaa 48% complete versus 43%
deferred revenue and deposits from sales of plots grew from 2b in 2016 to 2.35b in 2017
book value of Groups sellable land and other inventory increased from 3.1b to 3.7b in 2017
We are hopeful that the process will be successfully concluded and the funding committed to by strategic and other investors by end of 2018
Home Afrika Limited H1 2017 results through 30th June 2017 vs. 30th June 2016
H1 Revenue 92.474m vs. 54.346m +70.158%
H1 Cost of sales [75.274m] vs. [38.286m] +96.610%
H1 Gross profit [loss] 17.200m vs. 16.060m +7.098%
H1 Other operating income 7.638m vs. 5.473m +39.558%
H1 Total operating expenses [107.514m] vs. [64.593m] +66.448%
H1 Operating loss [82.676m] vs. [43.060m] +92.002%
H1 Finance costs [47.590m] vs. [53.958m] -11.802%
H1 Loss for the period [130.266m] vs. [97.018m] +34.270%
H1 Loss attributable to non controlling interests [13.133m] vs. [2.946m] +345.791%
H1 Loss attributable to owners of the parent [89.786m] vs. [96.468m] -6.927%
Basic and diluted [Loss] per share [0.22] vs. [0.24] -8.333%
Current assets 3.358714b
Current liabilities [4.265775b]
H1 Ordinary share capital 405.255m vs. 405.255m
H1 Share premium 68.842m vs 68.842m
H1 Retained earnings [758.113m] vs. [649.285m] -16.761%
H1 Minority interests [29.070m] vs. 34.065m -185.337%
H1 Total equity [313.086m] vs. [141.123m] -121.853%
Cash and cash equivalents at the end of period 13.414m
No interim dividend
Company Commentary
the effect of the suppressed selling prices of the units sold off plan in our Mitini Scapes development within Migaa
The deferred revenue and deposits from sales of plots grew from 2b in 2016 to 2.2b in 2017
Book Value of groups sellable land or land Bank grew to 3.18b
process of fundraising has so far progressed very well.
FY Revenue 222.187m vs. 259.773m -14.469%
FY Cost of sales [160.278m] vs. [233.493m] -31.356%
FY Gross profit 61.909m vs. 26.280m +135.575%
FY Other operating income 13.183m vs. 18.931m -30.363%
FY Operating expenses [152.143m] vs. [349.906m] -56.519%
FY Operating [Loss] [85.697m] vs. [278.079m] -69.182%
FY Finance costs [121.320m] vs. [132.720m] -8.597%
FY Loss before tax [207.007m] vs. [410.799m] -49.609%
FY [Loss] for the year [168.458m] vs. [390.091m] -56.816%
[Loss] per share basic and diluted [0.39] vs. [0.91] -57.143%
Total Assets 3.930011b vs. 3.862316b +1.753%
Total Equity [210.167m] vs. [41.709m] +403.889%
[Decrease] in cash and cash equivalents [36.505m] vs. [264.376m] -86.192%
Conclusions
Their Assets are worth 3.93b their market is 324.204m.
FY Revenue 259.773m vs. 687.301m -62.204%
FY Cost of sales [233.493m] vs. [447.027m] -47.768%
FY Gross profit 26.280m vs. 240.274m -89.062%
FY Other operating income 45.547m vs. 114.878m -60.352%
FY Operating expenses [349.906m] vs. [294.801m] +18.692%
FY Operating [Loss] profit [278.079m] vs. 60.351m -560.769%
FY Finance costs [132.720m] vs. [12.577m] +955.260%
FY Profit before tax [410.799m] vs. 47.774m -959.880%
FY [Loss] profit for the year [390.091m] vs. 8.955m -4,456.125%
FY [Loss] profit attributable to owners of the parent [367.646m] vs.
[17.878m] -1,956.416%
[Loss] per share [0.91] vs. [0.04] -2,175.000%
Total equity [41.709m] vs. 348.382m -111.972%
Cash and cash equivalents at the end of the year 44.491m vs. 308.868m
-85.595%
No dividends
Company Commentary
Deferred income and deposits from sales of Plots grew from 1.7b in 2014 to 1.8b in 2015
In line with our accounting policy, these amounts are carried as current liabilities but will over the next two years convert to revenues in our profitability statement as we increase the percentage of completion.
Total Assets grew to 3.9b in 2015 from 3.7b in 2014.
The Book Value of the groups inventory or land bank therefore grew from 2.4b in 2014 to 2.9b in 2015
Current market valuation of groups inventory or land bank is in excess of 6b.
Conclusions
Their Land Bank is worth 10x the market cap.
H1 Revenue 216.843m vs. 550.420m -60.6%
H1 Cost of Sales [219.820m] vs. [326.383m] -32.6%
H1 Gross [loss] profit [2.977m] vs. 224.037m -101.3%
H1 Other operating income 39.832m vs. 8.561m +365.3%
H1 Administrative expenses [63.081m] vs. [125.589m] -49.8%
H1 Operating[loss]profit [59.165m] vs. 73.134m -180.9%
H1 Finance costs [52.740m] vs. [4.906m]
H1 Profit [loss] before tax [111.905m] vs. 68.228m -264.0%
H1 Profit [loss] after tax [118.152m] vs. 42.909m -375.4%
H1 Earnings per share [0.28] vs. 0.08 -450.0%
CEO Statement
Group received the anticipated the long term funding of 500m, during Q1.
A significant 50% reduction in administrative overheads
Total Assets grew to 3.8b
Conclusions
Slashed Admin Expenses. The Net Asset Value is someways North of the Trading Price.
It represents an interesting Entry into the Real Estate Sector particularly at this Price of under 2 shillings a share.
The Business has been right sized during this reporting Period.
First Half through 30th June 2014 versus 6 months through 30th June 2013
First Half Revenue 550.420m versus 486.672m +13.098%
First Half Cost of Sales [326.383m] versus [167.352m] +95.027%
First Half Gross Profit 224.037m versus 319.320m -29.83%
First Half Administrative expenses [125.589m] versus [66.638m] +88.46%
First Half Operating Profit 73.134m versus 255.938m -71.425%
First Half Profit before Tax 66.228m versus 251.533m -73.67%
First Half Profit after Tax 42.209m versus 155.492m -72.85%
First Half Earnings Per Share 0.08 versus 0.19 -57.89%
Company Commentary
included in administration costs are one off expenses and the impact of the substantial activity in business operations and the various projects resulting in an increase of 88% in the period.
very positive about the real estate Industry
Conclusions
They have a First Mover First Lister Advantage.
I am constructive about Real Estate.
FY Earnings through 31st December 2013 versus through 31st December 2012
FY Revenue 650.577657m versus 348.586170m
Cost of Sales [261.692754m] versus [246.660053m]
Gross Profit 388.884903m versus 101.926117m
Other Operating Income 107.565148m versus 363.648963m
Selling and Distribution [63.784282m] versus [45.038163m]
FY Admin Expenses [212.222659m] versus [107.716190m]
FY Operating Profit 193.338309m versus 292.561017m
FY Profit before Tax 183.464609m versus 234.559043m
FY PAT 80.629957m versus 108.110361m
FY EPS 0.05 versus 0.07
No Dividend
Fair Value Gains on investment property during 2013 amounted to 100.8m
versus 358.6m in 2012 |
Average Price Over the last 5 Weeks |
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Average Price Over the last 5 Months |
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No. Of Shares Traded Over the last 5 Weeks |
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No. Of Shares Traded Over the last 5 Months |
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Market Capitalization Over the last 5 Weeks |
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Market Capitalization Over the last 5 Months |
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Data Source: Nairobi Stock Exchange
Trading Day: 17 Sep 2021
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