Ladun Investment reports 82% net profit hike to SAR 109.3M in 2023

28/03/2024 Argaam Exclusive

Ladun Investment Co. reported an 81.7% net profit surge to SAR 109.34 million in 2023, compared to SAR 60.19 million a year earlier.



Financials (M)

Item 2022 2023 Change‬
Revenues 881.18 1,436.02 63.0 %
Gross Income 167.06 298.09 78.4 %
Operating Income 77.43 153.91 98.8 %
Net Income 60.19 109.34 81.7 %
Average Shares 500.00 500.00 -
EPS (Riyals) 0.12 0.22 81.7 %

This was fueled by the 63% year-on-year (YoY) increase in 2023 revenues on the improved performance of the real estate development segment as the company undertakes several high-margin property projects.

 

During the same year, the gross profit margin jumped to 21%, compared to 19% in 2022.



Current Half Annual Comparison (M)

Compared With The
Item H2 2022 H2 2023 Change‬
Revenues 367.29 783.89 113.4 %
Gross Income 85.18 151.05 77.3 %
Operating Income 34.27 74.16 116.4 %
Net Income 30.18 36.19 19.9 %
Average Shares 500.00 500.00 -
EPS (Riyals) 0.06 0.07 19.9 %

Total shareholders’ equity, no minority interest, advanced to SAR 595.65 million by Dec. 31, 2023, compared to SAR 551.99 million a year ago.

 

Historical Data

Period

Revenue (SAR mln)

Net profit (SAR mln)

EPS (SAR)

H1 2021

402.40

73.49

0.15

H2 2021

367.42

7.31

0.01

H1 2022

513.89

30.01

0.06

H2 2022

367.29

30.18

0.06

H1 2023

652.13

73.15

0.15

H2 2023

783.88

36.19

0.07

 

View more financial results

 

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Share Price

Ladun Investment Co.
3.53
(0.07) (1.94 %)

Ladun Investment Co. (LADUN)

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Financial Ratios
Current
Market Cap (M Riyal) 1,765.00
Enterprise Value (EV) (M) 2,682.32
Shares Outstanding ((M)) 500.00
Book Value (BV) ( Riyal) 1.19
Par Value ( Riyal) 1.00
Adjusted P/E (Last12) 14.58
Price/book 2.96
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Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
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 176.02 - 28.22 - (0.97) -
H2 2020 351.00 - 77.58 - 32.93 -
H1 2021 402.40 128.6 % 35.86 27.1 % 10.48 1182.2 %
H2 2021 367.42 4.7 % 66.99 (13.7 %) 25.40 (22.9 %)
H1 2022 513.89 27.7 % 81.88 128.3 % 43.16 311.8 %
H2 2022 367.29 0.0 % 85.18 27.2 % 34.27 34.9 %
H1 2023 652.13 26.9 % 147.04 79.6 % 79.76 84.8 %
H2 2023 783.89 113.4 % 151.05 77.3 % 74.16 116.4 %
2023 1,436.02 63.0 % 298.09 78.4 % 153.91 98.8 %


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 - - - - - -
H1 2015 - - - - - -
H2 2015 - - - - - -
H1 2016 - - - - - -
H2 2016 - - - - - -
H1 2017 - - - - - -
H2 2017 - - - - - -
H1 2018 - - - - - -
H2 2018 - - - - - -
H1 2019 - - - - - -
H2 2019 - - - - - -
H1 2020 (3.02) - (0.01) - (3.02) (0.01)
H2 2020 27.84 - 0.06 - 27.84 0.06
H1 2021 73.49 2530.5 % 0.15 57.58 15.91 0.03
H2 2021 7.31 (73.7 %) 0.01 - 7.31 0.01
H1 2022 30.01 (59.2 %) 0.06 - 30.01 0.06
H2 2022 30.18 312.6 % 0.06 5.51 24.67 0.05
H1 2023 73.15 143.7 % 0.15 - 73.15 0.15
H2 2023 36.19 19.9 % 0.07 (11.75) 47.94 0.10
2023 109.34 81.7 % 0.22 (11.75) 121.09 0.24

Profitability

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 - - -
H2 2020 20.07 % 15.69 % 4.71 %
H1 2021 15.06 % 12.65 % 5.81 %
H2 2021 13.36 % 8.31 % 3.02 %
H1 2022 16.89 % 11.37 % 4.24 %
H2 2022 18.96 % 13.13 % 6.21 %
H1 2023 22.78 % 14.44 % 9.60 %
H2 2023 20.76 % 13.13 % 8.43 %
2023 20.76 % 13.13 % 8.43 %


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 500.00 - - 1.08
H2 2020 500.00 0.05 0.05 0.89
H1 2021 500.00 0.20 0.09 1.08
H2 2021 500.00 0.16 0.05 1.03
H1 2022 500.00 0.07 0.07 1.09
H2 2022 500.00 0.12 0.11 1.10
H1 2023 500.00 0.21 0.20 1.20
H2 2023 500.00 0.22 0.24 1.19

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 - - -
H1 2022 20.15 20.15 1.38
H2 2022 13.21 14.54 1.44
H1 2023 8.23 8.69 1.41
H2 2023 27.44 24.77 5.04

Business Segments (Million)

Compared With The
Period Real estate investment Construction sector Industrial development services segment Restaurants
Q2 2020 114.25 23.88 - 1.31 36.59
Q4 2020 171.37 117.42 - 0.49 61.72
Q2 2021 343.87 30.86 23.45 4.22 -
Q4 2021 198.00 132.93 39.79 (3.31) -
Q2 2022 307.32 156.57 48.46 1.55 -
Q4 2022 247.55 79.54 38.02 2.18 -
Q2 2023 499.24 100.70 47.52 4.67 -
Q4 2023 572.88 129.44 71.51 10.06 -

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