Alhasoob net profit slides to SAR 1.7M in 2023

31/03/2024 Argaam Exclusive

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Alhasoob Co.’s net profit slumped by 74% to SAR 1.7 million in 2023, compared to SAR 6.7 million a year earlier.

Financials (M)

Item	2022	2023	Change‬
Revenues	220.24	229.81	4.3 %
Gross Income	20.65	14.36	(30.5 %)
Operating Income	8.20	2.94	(64.2 %)
Net Income	6.66	1.74	(73.8 %)
Average Shares	2.80	2.80	-
EPS (Riyals)	2.38	0.62	(73.8 %)

This was attributed to lower exports and decreased product profit margins on abundant supply and fierce competition.

Current Half Annual Comparison (M)

Compared With The

Item	H2 2022	H2 2023	Change‬
Revenues	121.12	123.93	2.3 %
Gross Income	9.59	7.78	(18.8 %)
Operating Income	4.07	0.88	(78.5 %)
Net Income	3.24	0.31	(90.3 %)
Average Shares	2.80	2.80	-
EPS (Riyals)	1.16	0.11	(90.3 %)

Item	H1 2023	H2 2023	Change‬
Revenues	105.89	123.93	17.0 %
Gross Income	6.58	7.78	18.4 %
Operating Income	2.06	0.88	(57.4 %)
Net Income	1.43	0.31	(78.1 %)
Average Shares	2.80	2.80	-
EPS (Riyals)	0.51	0.11	(78.1 %)

Total shareholders’ equity, no minority interest, stood at SAR 37.19 million by Dec. 31, 2023, compared to SAR 35.55 million a year ago.

Historical Data
Period	Revenue (SAR mln)	Net profit (SAR mln)	EPS (SAR /share)
H1 2020	120.74	4.60	1.64
H2 2020	134.63	6.43	2.30
H1 2021	110.18	5.67	2.02
H2 2021	146.28	6.28	2.25
H1 2022	99.12	3.42	1.22
H2 2022	121.12	3.24	1.16
H1 2023	105.89	1.43	0.51
H2 2023	123.92	0.31	0.11

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Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
H1 2014	-	-	-	-	-	-
H2 2014	-	-	-	-	-	-
2014	-	-	-	-	-	-
H1 2015	-	-	-	-	-	-
H2 2015	-	-	-	-	-	-
2015	-	-	-	-	-	-
H1 2016	-	-	-	-	-	-
H2 2016	-	-	-	-	-	-
2016	-	-	-	-	-	-
H1 2017	-	-	-	-	-	-
H2 2017	-	-	-	-	-	-
2017	-	-	-	-	-	-
H1 2018	-	-	-	-	-	-
H2 2018	-	-	-	-	-	-
2018	181.93	-	14.40	-	7.25	-
H1 2019	-	-	-	-	-	-
H2 2019	-	-	-	-	-	-
2019	208.73	14.7 %	14.99	4.1 %	7.11	(1.9 %)
H1 2020	120.74	-	8.69	-	4.87	-
H2 2020	134.63	-	11.44	-	6.86	-
2020	255.37	22.3 %	20.13	34.2 %	11.73	64.9 %
H1 2021	110.18	(8.7 %)	10.11	16.3 %	6.02	23.6 %
H2 2021	146.27	8.6 %	13.99	22.4 %	6.79	(0.9 %)
2021	256.46	0.4 %	24.10	19.7 %	12.81	9.2 %
H1 2022	99.12	(10.0 %)	11.06	9.5 %	4.12	(31.5 %)
H2 2022	121.12	(17.2 %)	9.59	(31.5 %)	4.07	(40.1 %)
2022	220.24	(14.1 %)	20.65	(14.3 %)	8.20	(36.0 %)
H1 2023	105.89	6.8 %	6.58	(40.5 %)	2.06	(50.1 %)
H2 2023	123.93	2.3 %	7.78	(18.8 %)	0.88	(78.5 %)
2023	229.81	4.3 %	14.36	(30.5 %)	2.94	(64.2 %)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	-	-	-	-	-	-
2018	181.93	-	14.40	-	7.25	-
2019	208.73	14.7 %	14.99	4.1 %	7.11	(1.9 %)
2020	255.37	22.3 %	20.13	34.2 %	11.73	64.9 %
2021	256.46	0.4 %	24.10	19.7 %	12.81	9.2 %
2022	220.24	(14.1 %)	20.65	(14.3 %)	8.20	(36.0 %)
2023	229.81	4.3 %	14.36	(30.5 %)	2.94	(64.2 %)

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
H1 2014	-	-	-	-	-	-
H2 2014	-	-	-	-	-	-
2014	-	-	-	-	-	-
H1 2015	-	-	-	-	-	-
H2 2015	-	-	-	-	-	-
2015	-	-	-	-	-	-
H1 2016	-	-	-	-	-	-
H2 2016	-	-	-	-	-	-
2016	-	-	-	-	-	-
H1 2017	-	-	-	-	-	-
H2 2017	-	-	-	-	-	-
2017	-	-	-	-	-	-
H1 2018	-	-	-	-	-	-
H2 2018	-	-	-	-	-	-
2018	6.81	-	2.43	-	6.81	2.43
H1 2019	-	-	-	-	-	-
H2 2019	-	-	-	-	-	-
2019	6.65	(2.4 %)	2.37	-	6.65	2.37
H1 2020	4.60	-	1.64	-	4.60	1.64
H2 2020	6.44	-	2.30	-	6.44	2.30
2020	11.03	66.0 %	3.94	-	11.03	3.94
H1 2021	5.67	23.2 %	2.02	-	5.67	2.02
H2 2021	6.28	(2.4 %)	2.24	-	6.28	2.24
2021	11.95	8.3 %	4.27	-	11.95	4.27
H1 2022	3.42	(39.7 %)	1.22	-	3.42	1.22
H2 2022	3.24	(48.5 %)	1.16	-	3.24	1.16
2022	6.66	(44.3 %)	2.38	-	6.66	2.38
H1 2023	1.43	(58.2 %)	0.51	-	1.43	0.51
H2 2023	0.31	(90.3 %)	0.11	-	0.31	0.11
2023	1.74	(73.8 %)	0.62	-	1.74	0.62

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	-	-	-	-	-	-
2018	6.81	-	2.43	-	6.81	2.43
2019	6.65	(2.4 %)	2.37	-	6.65	2.37
2020	11.03	66.0 %	3.94	-	11.03	3.94
2021	11.95	8.3 %	4.27	-	11.95	4.27
2022	6.66	(44.3 %)	2.38	-	6.66	2.38
2023	1.74	(73.8 %)	0.62	-	1.74	0.62

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
H1 2014	-	-	-
H2 2014	-	-	-
2014	-	-	-
H1 2015	-	-	-
H2 2015	-	-	-
2015	-	-	-
H1 2016	-	-	-
H2 2016	-	-	-
2016	-	-	-
H1 2017	-	-	-
H2 2017	-	-	-
2017	-	-	-
H1 2018	-	-	-
H2 2018	-	-	-
2018	7.92 %	4.06 %	3.74 %
H1 2019	-	-	-
H2 2019	-	-	-
2019	7.18 %	3.44 %	3.18 %
H1 2020	-	-	-
H2 2020	7.88 %	4.82 %	4.32 %
2020	7.88 %	4.82 %	4.32 %
H1 2021	8.80 %	5.45 %	4.94 %
H2 2021	9.40 %	5.24 %	4.66 %
2021	9.40 %	5.24 %	4.66 %
H1 2022	10.21 %	4.73 %	3.95 %
H2 2022	9.38 %	4.03 %	3.02 %
2022	9.38 %	4.03 %	3.02 %
H1 2023	7.12 %	2.99 %	2.06 %
H2 2023	6.25 %	1.58 %	0.76 %
2023	6.25 %	1.58 %	0.76 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	7.92 %	4.06 %	3.74 %
2019	7.18 %	3.44 %	3.18 %
2020	7.88 %	4.82 %	4.32 %
2021	9.40 %	5.24 %	4.66 %
2022	9.38 %	4.03 %	3.02 %
2023	6.25 %	1.58 %	0.76 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
H1 2014	-	-	-
H2 2014	-	-	-
H1 2015	-	-	-
H2 2015	-	-	-
H1 2016	-	-	-
H2 2016	-	-	-
H1 2017	-	-	-
H2 2017	-	-	-
H1 2018	-	-	-
H2 2018	-	-	-
H1 2019	-	-	-
H2 2019	-	-	-
H1 2020	7.20 %	4.38 %	3.81 %
H2 2020	8.50 %	5.22 %	4.78 %
H1 2021	9.17 %	5.72 %	5.14 %
H2 2021	9.57 %	4.88 %	4.30 %
H1 2022	11.16 %	4.50 %	3.45 %
H2 2022	7.91 %	3.65 %	2.67 %
H1 2023	6.21 %	2.24 %	1.35 %
H2 2023	6.28 %	1.02 %	0.25 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
H1 2014	-	-	-	-
H2 2014	-	-	-	-
H1 2015	-	-	-	-
H2 2015	-	-	-	-
H1 2016	-	-	-	-
H2 2016	-	-	-	-
H1 2017	-	-	-	-
H2 2017	-	-	-	-
H1 2018	-	-	-	-
H2 2018	-	-	-	-
H1 2019	-	-	-	-
H2 2019	-	-	-	-
H1 2020	2.80	-	-	-
H2 2020	2.80	3.94	3.94	8.99
H1 2021	2.80	4.32	4.32	8.15
H2 2021	2.80	4.27	4.27	10.38
H1 2022	2.80	3.46	3.46	11.60
H2 2022	2.80	2.38	2.38	12.70
H1 2023	2.80	1.67	1.67	13.21
H2 2023	2.80	0.62	0.62	13.28

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2014	-	-	-	-
2015	-	-	-	-
2016	-	-	-	-
2017	-	-	-	-
2018	2.80	2.43	2.43	2.49
2019	2.80	2.37	2.37	2.43
2020	2.80	3.94	3.94	8.99
2021	2.80	4.27	4.27	10.38
2022	2.80	2.38	2.38	12.70
2023	2.80	0.62	0.62	13.28

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
H1 2014	-	-	-
H2 2014	-	-	-
H1 2015	-	-	-
H2 2015	-	-	-
H1 2016	-	-	-
H2 2016	-	-	-
H1 2017	-	-	-
H2 2017	-	-	-
H1 2018	-	-	-
H2 2018	-	-	-
H1 2019	-	-	-
H2 2019	-	-	-
H1 2020	-	-	-
H2 2020	-	-	-
H1 2021	-	-	-
H2 2021	59.75	59.75	24.57
H1 2022	32.85	32.85	9.81
H2 2022	41.02	41.02	7.68
H1 2023	60.50	60.50	7.63
H2 2023	More than 100	More than 100	6.19

Period	P/E	Adjusted P/E	Price/book
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	-	-	-
2020	-	-	-
2021	59.75	59.75	24.57
2022	41.02	41.02	7.68
2023	More than 100	More than 100	6.19

Financial Ratios

	Current
Market Cap (M Riyal)	149.24
Enterprise Value (EV) (M)	134.42
Shares Outstanding ((M))	2.80
Book Value (BV) ( Riyal)	13.28
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	More than 100
Price/book	4.01

Alhasoob Co. (ALHASOOB)

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Alhasoob net profit slides to SAR 1.7M in 2023

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Financials (M)

Current Half Annual Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Financial Ratios

Share Price

Alhasoob Co. (ALHASOOB)

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Alhasoob net profit slides to SAR 1.7M in 2023

View other reports

Financials (M)

Current Half Annual Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Financial Ratios

Share Price

Alhasoob Co. (ALHASOOB)

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