New Risk • May 08
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 31% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (7.1% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to د.إ11.14, the stock trades at a trailing P/E ratio of 16.9x. Average trailing P/E is 13x in the Consumer Retailing industry in United Arab Emirates. Total loss to shareholders of 73% over the past three years. Announcement • Mar 23
Ghitha Holding P.J.S.C(ADX:GHITHA) dropped from FTSE All-World Index (USD) Ghitha Holding P.J.S.C(ADX:GHITHA) dropped from FTSE All-World Index (USD) Announcement • Feb 05
Ghitha Holding P.J.S.C, Annual General Meeting, Mar 02, 2026 Ghitha Holding P.J.S.C, Annual General Meeting, Mar 02, 2026, at 15:30 Arabian Standard Time. Location: ihc office, abu dhabi United Arab Emirates Announcement • Jan 29
Ghitha Holding P.J.S.C to Report Fiscal Year 2025 Results on Jan 29, 2026 Ghitha Holding P.J.S.C announced that they will report fiscal year 2025 results on Jan 29, 2026 Valuation Update With 7 Day Price Move • Dec 26
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to د.إ18.68, the stock trades at a trailing P/E ratio of 27.5x. Average trailing P/E is 15x in the Consumer Retailing industry in United Arab Emirates. Total loss to shareholders of 74% over the past three years. Valuation Update With 7 Day Price Move • Dec 03
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to د.إ17.40, the stock trades at a trailing P/E ratio of 25.6x. Average trailing P/E is 16x in the Consumer Retailing industry in United Arab Emirates. Total loss to shareholders of 75% over the past three years. Valuation Update With 7 Day Price Move • Nov 12
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to د.إ19.52, the stock trades at a trailing P/E ratio of 28.8x. Average trailing P/E is 16x in the Consumer Retailing industry in United Arab Emirates. Total loss to shareholders of 73% over the past three years. Reported Earnings • Oct 28
Third quarter 2025 earnings released: EPS: د.إ0.03 (vs د.إ0.11 in 3Q 2024) Third quarter 2025 results: EPS: د.إ0.03 (down from د.إ0.11 in 3Q 2024). Revenue: د.إ1.39b (up 14% from 3Q 2024). Net income: د.إ17.5m (down 33% from 3Q 2024). Profit margin: 1.3% (down from 2.1% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has fallen by 30% per year, which means it is significantly lagging earnings. Announcement • Oct 23
Ghitha Holding P.J.S.C to Report Q3, 2025 Results on Oct 27, 2025 Ghitha Holding P.J.S.C announced that they will report Q3, 2025 results on Oct 27, 2025 Reported Earnings • Jul 31
Second quarter 2025 earnings released: EPS: د.إ0.09 (vs د.إ0.20 in 2Q 2024) Second quarter 2025 results: EPS: د.إ0.09. Revenue: د.إ1.30b (up 8.8% from 2Q 2024). Net income: د.إ127.5m (up 162% from 2Q 2024). Profit margin: 9.8% (up from 4.1% in 2Q 2024). The increase in margin was driven by higher revenue. Announcement • Jul 22
Ghitha Holding P.J.S.C to Report Q2, 2025 Results on Jul 29, 2025 Ghitha Holding P.J.S.C announced that they will report Q2, 2025 results on Jul 29, 2025 Valuation Update With 7 Day Price Move • Jun 10
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to د.إ25.84, the stock trades at a trailing P/E ratio of 61.4x. Average trailing P/E is 17x in the Consumer Retailing industry in United Arab Emirates. Total loss to shareholders of 69% over the past three years. Valuation Update With 7 Day Price Move • May 05
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to د.إ20.40, the stock trades at a trailing P/E ratio of 48.5x. Average trailing P/E is 17x in the Consumer Retailing industry in United Arab Emirates. Total loss to shareholders of 80% over the past three years. New Risk • Apr 29
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Emirian stocks, typically moving 7.8% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (7.8% average weekly change). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.0% net profit margin). Reported Earnings • Apr 26
First quarter 2025 earnings released: EPS: د.إ0.08 (vs د.إ11.03 in 1Q 2024) First quarter 2025 results: EPS: د.إ0.08 (down from د.إ11.03 in 1Q 2024). Revenue: د.إ1.35b (up 7.0% from 1Q 2024). Net income: د.إ21.1m (down 99% from 1Q 2024). Profit margin: 1.6% (down from 212% in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 78% per year but the company’s share price has fallen by 44% per year, which means it is significantly lagging earnings. Announcement • Apr 23
Ghitha Holding P.J.S.C to Report Q1, 2025 Results on Apr 25, 2025 Ghitha Holding P.J.S.C announced that they will report Q1, 2025 results on Apr 25, 2025 Buy Or Sell Opportunity • Nov 18
Now 74% undervalued after recent price drop Over the last 90 days, the stock has fallen 91% to د.إ2.47. The fair value is estimated to be د.إ9.37, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 63% over the last 3 years. Earnings per share has grown by 110%. Reported Earnings • Oct 26
Third quarter 2024 earnings released: EPS: د.إ0.11 (vs د.إ0.45 in 3Q 2023) Third quarter 2024 results: EPS: د.إ0.11 (down from د.إ0.45 in 3Q 2023). Revenue: د.إ1.22b (down 2.0% from 3Q 2023). Net income: د.إ26.1m (down 76% from 3Q 2023). Profit margin: 2.1% (down from 8.8% in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 110% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to د.إ26.60, the stock trades at a trailing P/E ratio of 2.3x. Average trailing P/E is 17x in the Consumer Retailing industry in Asia. Total returns to shareholders of 146% over the past three years. Reported Earnings • Jul 28
Second quarter 2024 earnings released: EPS: د.إ0.20 (vs د.إ0.005 in 2Q 2023) Second quarter 2024 results: EPS: د.إ0.20 (up from د.إ0.005 in 2Q 2023). Revenue: د.إ1.19b (up 1.5% from 2Q 2023). Net income: د.إ48.7m (up د.إ47.4m from 2Q 2023). Profit margin: 4.1% (up from 0.1% in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 114% per year but the company’s share price has only increased by 44% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 01
First quarter 2024 earnings released: EPS: د.إ11.03 (vs د.إ0.17 loss in 1Q 2023) First quarter 2024 results: EPS: د.إ11.03 (up from د.إ0.17 loss in 1Q 2023). Revenue: د.إ1.26b (up 41% from 1Q 2023). Net income: د.إ2.66b (up د.إ2.71b from 1Q 2023). Over the last 3 years on average, earnings per share has increased by 105% per year but the company’s share price has only increased by 58% per year, which means it is significantly lagging earnings growth. Announcement • May 01
Ghitha Holding P.J.S.C (ADX:GHITHA) acquired additional 12% stake in Al Ain Farms For Livestock Production P.J.S.C. for AED 61 million. Ghitha Holding P.J.S.C (ADX:GHITHA) acquired additional 12% stake in Al Ain Farms For Livestock Production P.J.S.C. for AED 61 million on February 28, 2024.Ghitha Holding P.J.S.C (ADX:GHITHA) completed the acquisition of additional 12% stake in Al Ain Farms For Livestock Production P.J.S.C. for AED 61 million on February 28, 2024. New Risk • Mar 27
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Emirian stocks, typically moving 6.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (6.3% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.7% net profit margin). Announcement • Mar 11
Ghitha Holding P.J.S.C (ADX:GHITHA) acquired 12% stake in Al Ain Dairy Farm for AED 61 million. Ghitha Holding P.J.S.C (ADX:GHITHA) acquired 12% stake in Al Ain Dairy Farm for AED 61 million on March 9, 2024. After the transaction, Ghitha Holding P.J.S.C (ADX:GHITHA) held 63%.Ghitha Holding P.J.S.C (ADX:GHITHA) completed the acquisition of 12% stake in Al Ain Dairy Farm on March 9, 2024. Reported Earnings • Jan 29
Full year 2023 earnings released: EPS: د.إ0.13 (vs د.إ1.44 in FY 2022) Full year 2023 results: EPS: د.إ0.13 (down from د.إ1.44 in FY 2022). Revenue: د.إ4.57b (up 100% from FY 2022). Net income: د.إ30.3m (down 89% from FY 2022). Profit margin: 0.7% (down from 12% in FY 2022). Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has increased by 54% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jan 05
Ghitha Holding P.J.S.C Announces Executive Appointments Ghitha Holding P.J.S.C named Mohamed Somar Nassouh Ajalyaqin as the Chairman of the board. During the same board meeting held on 3 January 2024, Hamad Khlfan Ali Matar Al Shamsi was appointed as the Vice Chairman. New Risk • Nov 04
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 45% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (5.8% net profit margin). New Risk • Aug 03
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 5.2% Last year net profit margin: 8.6% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. This is currently the only risk that has been identified for the company. Reported Earnings • Aug 03
Second quarter 2023 earnings released: EPS: د.إ0.01 (vs د.إ0.37 in 2Q 2022) Second quarter 2023 results: EPS: د.إ0.01 (down from د.إ0.37 in 2Q 2022). Revenue: د.إ1.17b (up 104% from 2Q 2022). Net income: د.إ1.30m (down 98% from 2Q 2022). Profit margin: 0.1% (down from 13% in 2Q 2022). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Apr 06
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to د.إ35.00, the stock trades at a trailing P/E ratio of 30x. Average trailing P/E is 17x in the Consumer Retailing industry in Asia. Total loss to shareholders of 58% over the past year. Valuation Update With 7 Day Price Move • Mar 21
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to د.إ61.95, the stock trades at a trailing P/E ratio of 53.1x. Average trailing P/E is 17x in the Consumer Retailing industry in Asia. Total returns to shareholders of 2.4% over the past year. Valuation Update With 7 Day Price Move • Feb 21
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to د.إ86.20, the stock trades at a trailing P/E ratio of 73.9x. Average trailing P/E is 17x in the Consumer Retailing industry in Asia. Total returns to shareholders of 74% over the past year. Reported Earnings • Feb 08
Full year 2022 earnings released: EPS: د.إ1.44 (vs د.إ0.58 in FY 2021) Full year 2022 results: EPS: د.إ1.44 (up from د.إ0.58 in FY 2021). Revenue: د.إ2.28b (up 318% from FY 2021). Net income: د.إ281.7m (up 389% from FY 2021). Profit margin: 12% (up from 11% in FY 2021). Reported Earnings • Oct 29
Third quarter 2022 earnings released: EPS: د.إ0.22 (vs د.إ0.11 in 3Q 2021) Third quarter 2022 results: EPS: د.إ0.22 (up from د.إ0.11 in 3Q 2021). Revenue: د.إ626.1m (up 389% from 3Q 2021). Net income: د.إ52.3m (up 357% from 3Q 2021). Profit margin: 8.4% (down from 8.9% in 3Q 2021). Announcement • Oct 22
Ghitha Holding P.J.S.C to Report Q3, 2022 Results on Oct 26, 2022 Ghitha Holding P.J.S.C announced that they will report Q3, 2022 results on Oct 26, 2022 Reported Earnings • Aug 02
Second quarter 2022 earnings released: EPS: د.إ0.37 (vs د.إ0.10 in 2Q 2021) Second quarter 2022 results: EPS: د.إ0.37 (up from د.إ0.10 in 2Q 2021). Revenue: د.إ576.3m (up 310% from 2Q 2021). Net income: د.إ72.7m (up د.إ62.2m from 2Q 2021). Profit margin: 13% (up from 7.5% in 2Q 2021). Announcement • Feb 08
Ghitha Holding P.J.S.C, Annual General Meeting, Mar 02, 2022 Ghitha Holding P.J.S.C, Annual General Meeting, Mar 02, 2022, at 11:00 Coordinated Universal Time. Agenda: To approve the report of the board of directors on the company's activity and its financial position and its corporate governance report; to approve auditors' report; to approve balance sheet and profit and loss account; to discharge member of board of directors from the liabilities for their activity; to discharge auditors for their activities; to appoint the company's auditors and determine their fees; to consider the approval of board of director's proposal for non-distribution of remuneration and profit to the members; and to transact other matters. Valuation Update With 7 Day Price Move • Aug 31
Investor sentiment improved over the past week After last week's 101% share price gain to د.إ30.08, the stock trades at a trailing P/E ratio of 18.6x. Average trailing P/E is 18x in the Consumer Retailing industry in Asia. Valuation Update With 7 Day Price Move • Aug 11
Investor sentiment improved over the past week After last week's 23% share price gain to د.إ11.80, the stock trades at a trailing P/E ratio of 14.8x. Average trailing P/E is 18x in the Consumer Retailing industry in Asia. Announcement • Jan 22
Zee Stores LLC (ADX:ZS) acquired an unknown minority stake in Royal Horizon Holding LLC from its shareholders for AED 40 million. Zee Stores LLC (ADX:ZS) acquired an unknown minority stake in Royal Horizon Holding LLC from its shareholders for AED 40 million on January 20, 2021. In a related transaction, Zee Stores LLC (ADX:ZS) completed the capital infusion of AED 40 million. In both the transaction, Zee Stores acquired a combined stake of 60% in Royal Horizon . As of December 31, 2020, Royal Horizon reported a total assets of AED 68 million and annual turnover of AED 123 million.
Zee Stores LLC (ADX:ZS) completed the acquisition of an unknown minority stake in Royal Horizon Holding LLC from its shareholders on January 20, 2021.