WAJA’s 2022 profit falls 9% to SAR 17.5 mln

WAJA’s 2022 profit falls 9% to SAR 17.5 mln

30/03/2023 Argaam Exclusive

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WAJA Co. reported a 9% drop in 2022 net profit to SAR 17.5 million, from SAR 19.3 million in 2021 on higher cost of revenue and Zakat provisions.



Financials (M)

Item 2021 2022 Change‬
Revenues 79.03 99.18 25.5 %
Gross Income 23.16 26.02 12.4 %
Operating Income 16.90 20.26 19.9 %
Net Income 17.36 18.26 5.2 %
Average Shares 70.00 70.00 -
EPS (Halala) 24.80 26.09 5.2 %


Current Half Annual Comparison (M)

Compared With The
Item H2 2021 H2 2022 Change‬
Revenues 42.55 55.21 29.8 %
Gross Income 8.04 14.18 76.4 %
Operating Income 4.89 11.15 128.1 %
Net Income 5.57 9.97 79.1 %
Average Shares 70.00 70.00 -
EPS (Halala) 7.95 14.24 79.1 %

Shareholders’ equity, no minority interest, increased to SAR 73.44 million as of Dec. 31, 2022, from SAR 54.52 million a year earlier.

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Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
H1 2013 - - - - - -
H2 2013 - - - - - -
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 36.49 - 15.12 - 12.00 -
H2 2021 42.55 - 8.04 - 4.89 -
H1 2022 43.97 20.5 % 11.84 (21.7 %) 9.11 (24.1 %)
H2 2022 55.21 29.8 % 14.18 76.4 % 11.15 128.1 %
2022 99.18 25.5 % 26.02 12.4 % 20.26 19.9 %


Profit Performance (Million)

Period Net Income Change EPS(Halala) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
H1 2013 - - - - - -
H2 2013 - - - - - -
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 11.80 - 16.85 - 11.80 0.17
H2 2021 5.57 - 7.95 1.65 3.92 0.06
H1 2022 8.30 (29.7 %) 11.85 - 8.30 0.12
H2 2022 9.97 79.1 % 14.24 - 9.97 0.14
2022 18.26 5.2 % 26.09 - 18.26 0.26

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
H1 2013 - - -
H2 2013 - - -
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 29.30 % 23.27 % 19.88 %
H1 2022 22.98 % 17.75 % 14.11 %
H2 2022 26.24 % 21.47 % 18.41 %
2022 26.24 % 21.47 % 18.41 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Halala) Adjusted EPS (Halala) Book Value (BV)
H1 2013 - - - -
H2 2013 - - - -
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 70.00 - - 0.67
H2 2021 70.00 24.80 22.45 0.75
H1 2022 70.00 19.80 17.44 0.90
H2 2022 70.00 26.09 26.09 1.03

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
H1 2013 - - -
H2 2013 - - -
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 - - -
H2 2022 - - -

Business Segments (Million)

Compared With The
Period Contracting business sector Operation and maintenance sector
Q2 2022 38.65 5.32
Q4 2022 51.58 3.64


Financial Ratios
Current
Market Cap (M Riyal) 545.30
Enterprise Value (EV) (M) 554.09
Shares Outstanding ((M)) 70.00
Book Value (BV) ( Riyal) 1.36
Par Value ( Halala) 50.00
Adjusted P/E (Last12) 23.85
Price/book 5.73
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Share Price

Waja Co.
7.79
(0.08) (1.02 %)

Waja Co. (WAJA)

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