Munawla Cargo’s net profit up 27% to SAR 9.7 mln in 2022
31/07/2023
Argaam Exclusive
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Munawla Cargo Co. reported a net profit of SAR 9.7 million in 2022, an increase of 27% year-on-year (YoY) from SAR 7.6 million in a year earlier period.
Financials (M)
| Item | 2021 | 2022 | Change |
|---|---|---|---|
| Revenues | 131.76 | 138.91 | 5.4 % |
| Gross Income | 25.13 | 24.77 | (1.4 %) |
| Operating Income | 8.25 | 10.09 | 22.4 % |
| Net Income | 7.58 | 9.66 | 27.5 % |
| Average Shares | 2.00 | 2.00 | - |
| EPS (Riyals) | 3.79 | 4.83 | 27.5 % |
This was driven by a 5.42% year-on-year (YoY) jump in revenue to SAR 139 million, a YoY hike of 19% in gross profit margins and increased other revenue. This came despite higher financing costs as well as operating, administrative and general expenses.
Compared With The
Current Half Annual Comparison (M)
| Item | H2 2021 | H2 2022 | Change |
|---|---|---|---|
| Revenues | 74.47 | 71.41 | (4.1 %) |
| Gross Income | 14.37 | 13.22 | (8.0 %) |
| Operating Income | 4.95 | 8.22 | 66.0 % |
| Net Income | 4.25 | 7.52 | 77.0 % |
| Average Shares | 2.00 | 2.00 | - |
| EPS (Riyals) | 2.12 | 3.76 | 77.0 % |
Shareholders’ equity, no minority interest, reached SAR 32.95 million by the end of 2022, compared to SAR 25.36 million the year before.
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| H1 2022 | 67.50 | 17.8 % | 11.55 | 7.4 % | 1.88 | (43.0 %) |
| H2 2022 | 71.41 | (4.1 %) | 13.22 | (8.0 %) | 8.22 | 66.0 % |
| 2022 | 138.91 | 5.4 % | 24.77 | (1.4 %) | 10.09 | 22.4 % |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS Before XO Items |
|---|---|---|---|---|---|---|
| H1 2022 | 2.14 | (35.7 %) | 1.07 | - | 2.14 | 1.07 |
| H2 2022 | 7.52 | 77.0 % | 3.76 | - | 7.52 | 3.76 |
| 2022 | 9.66 | 27.5 % | 4.83 | - | 9.66 | 4.83 |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| H1 2022 | 18.26 % | 6.51 % | 4.50 % |
| H2 2022 | 17.83 % | 9.04 % | 6.95 % |
| 2022 | 17.83 % | 9.04 % | 6.95 % |
Compared With The
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| H1 2022 | 2.00 | 3.19 | 3.19 | 13.57 |
| H2 2022 | 2.00 | 4.83 | 4.83 | 16.47 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| H1 2022 | - | - | - |
| H2 2022 | - | - | - |
Business Segments (Million)
Q4 2022
| Period | Sea freight | Air freight | Road transport | Logistical business |
|---|---|---|---|---|
| Q2 2022 | 23.72 | 23.76 | 18.11 | 1.91 |
| Q4 2022 | 34.12 | 20.11 | 13.68 | 3.49 |
| Current | |
| Market Cap (M Riyal) | 130.00 |
| Enterprise Value (EV) (M) | 129.64 |
| Shares Outstanding ((M)) | 2.00 |
| Book Value (BV) ( Riyal) | 17.60 |
| Par Value ( Riyal) | 10.00 |
| Adjusted P/E (Last12) | 26.25 |
| Price/book | 3.69 |
Share Price
Munawla Cargo Co. (MUNAWLA)
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