Osool & Bakheet net profit rises to SAR 25.5M in 2023

Osool & Bakheet Investment Co.’s net profit rose to SAR 25.5 million for 2023, compared to SAR 10.2 million a year earlier, backed by a 114% surge year-on-year (YoY) in operating revenue to SAR 60.38 million for 2023, in addition to higher fair value investments.

Financials (M)

Item	2022	2023	Change‬
Revenues	28.21	60.38	114.1 %
Gross Income	28.21	60.38	114.1 %
Operating Income	9.98	27.05	171.1 %
Net Income	10.24	25.50	148.9 %
Average Shares	6.00	8.10	35.0 %
EPS (Riyals)	1.71	3.15	84.4 %

Meanwhile, expenses rose 83% YoY, financing costs surged 368% YoY and other income declined 39% YoY.

Current Half Annual Comparison (M)

Compared With The

Item	H2 2022	H2 2023	Change‬
Revenues	12.43	27.57	121.8 %
Gross Income	12.43	27.57	121.8 %
Operating Income	3.71	13.54	265.3 %
Net Income	3.57	12.54	251.2 %
Average Shares	6.00	8.10	35.0 %
EPS (Riyals)	0.60	1.55	160.1 %

Item	H1 2023	H2 2023	Change‬
Revenues	32.80	27.57	(15.9 %)
Gross Income	32.80	27.57	(15.9 %)
Operating Income	13.51	13.54	0.2 %
Net Income	12.96	12.54	(3.2 %)
Average Shares	6.00	8.10	35.0 %
EPS (Riyals)	2.16	1.55	(28.3 %)

Total shareholders’ equity, no minority interest, stood at SAR 200.1 million by Dec. 31, 2023, compared to SAR 107.69 million a year earlier.

Historical data
Period	Revenue (SAR mln)	Net Profit (SAR mln)	EPS (SAR/ share)
H1 2022	15.77	6.67	1.11
H2 2022	12.24	3.57	0.61
H1 2023	32.57	12.96	2.16
H2 2023	27.81	12.54	2.09

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Share Price

Osool and Bakheet Investment Co. (OSOOL AND BAKHEET)

	Current
Market Cap (M Riyal)	330.89
Enterprise Value (EV) (M)	202.41
Shares Outstanding ((M))	8.10
Book Value (BV) ( Riyal)	24.70
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	12.98
Price/book	1.65

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	-	-	-	-	-	-
H1 2019	-	-	-	-	-	-
H2 2019	-	-	-	-	-	-
2019	-	-	-	-	-	-
H1 2020	-	-	-	-	-	-
H2 2020	-	-	-	-	-	-
2020	-	-	-	-	-	-
H1 2021	-	-	-	-	-	-
H2 2021	-	-	-	-	-	-
2021	50.77	-	50.77	-	25.09	-
H1 2022	15.77	-	15.77	-	6.27	-
H2 2022	12.43	-	12.43	-	3.71	-
2022	28.21	(44.4 %)	28.21	(44.4 %)	9.98	(60.2 %)
H1 2023	32.80	108.0 %	32.80	108.0 %	13.51	115.5 %
H2 2023	27.57	121.8 %	27.57	121.8 %	13.54	265.3 %
2023	60.38	114.1 %	60.38	114.1 %	27.05	171.1 %

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	-	-	-	-	-	-
2018	-	-	-	-	-	-
2019	-	-	-	-	-	-
2020	-	-	-	-	-	-
2021	50.77	-	50.77	-	25.09	-
2022	28.21	(44.4 %)	28.21	(44.4 %)	9.98	(60.2 %)
2023	60.38	114.1 %	60.38	114.1 %	27.05	171.1 %

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	-	-	-	-	-	-
H1 2019	-	-	-	-	-	-
H2 2019	-	-	-	-	-	-
2019	-	-	-	-	-	-
H1 2020	-	-	-	-	-	-
H2 2020	-	-	-	-	-	-
2020	-	-	-	-	-	-
H1 2021	-	-	-	-	-	-
H2 2021	-	-	-	-	-	-
2021	25.89	-	4.31	-	25.89	4.31
H1 2022	6.67	-	1.11	-	6.67	1.11
H2 2022	3.57	-	0.60	-	3.57	0.60
2022	10.24	(60.4 %)	1.71	-	10.24	1.71
H1 2023	12.96	94.1 %	2.16	-	12.96	2.16
H2 2023	12.54	251.2 %	1.55	-	12.54	1.55
2023	25.50	148.9 %	3.15	-	25.50	3.15

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	-	-	-	-	-	-
2018	-	-	-	-	-	-
2019	-	-	-	-	-	-
2020	-	-	-	-	-	-
2021	25.89	-	4.31	-	25.89	4.31
2022	10.24	(60.4 %)	1.71	-	10.24	1.71
2023	25.50	148.9 %	3.15	-	25.50	3.15

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	-	-	-
H1 2019	-	-	-
H2 2019	-	-	-
2019	-	-	-
H1 2020	-	-	-
H2 2020	-	-	-
2020	-	-	-
H1 2021	-	-	-
H2 2021	-	-	-
2021	100.00 %	51.26 %	50.99 %
H1 2022	-	-	-
H2 2022	100.00 %	38.84 %	36.32 %
2022	100.00 %	38.84 %	36.32 %
H1 2023	100.00 %	39.96 %	36.54 %
H2 2023	100.00 %	47.25 %	42.23 %
2023	100.00 %	47.25 %	42.23 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	-	-	-
2020	-	-	-
2021	100.00 %	51.26 %	50.99 %
2022	100.00 %	38.84 %	36.32 %
2023	100.00 %	47.25 %	42.23 %

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	-	-	-
H1 2021	-	-	-
H2 2021	-	-	-
H1 2022	100.00 %	42.82 %	42.31 %
H2 2022	100.00 %	33.79 %	28.72 %
H1 2023	100.00 %	42.30 %	39.50 %
H2 2023	100.00 %	53.14 %	45.48 %

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	-	-	-	-
H2 2020	-	-	-	-
H1 2021	-	-	-	-
H2 2021	-	-	-	-
H1 2022	6.00	-	-	17.40
H2 2022	6.00	1.71	1.71	17.95
H1 2023	6.00	2.75	2.75	20.11
H2 2023	8.10	3.15	3.15	24.70

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2014	-	-	-	-
2015	-	-	-	-
2016	-	-	-	-
2017	-	-	-	-
2018	-	-	-	-
2019	-	-	-	-
2020	-	-	-	-
2021	6.00	4.31	4.31	16.29
2022	6.00	1.71	1.71	17.95
2023	8.10	3.15	3.15	24.70

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	-	-	-
H2 2022	-	-	-
H1 2023	-	-	-
H2 2023	9.23	9.23	1.18

Period	P/E	Adjusted P/E	Price/book
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	-	-	-
2020	-	-	-
2021	-	-	-
2022	-	-	-
2023	9.23	9.23	1.18

Business Segments (Million)

Compared With The

Period	Gains on financial investments valuation at fair value	Fund management fees	Portfolio management fees	Custody and operation management fees	Murabaha loans revenues	Subscription management fees	Brokerage revenues, net	Cash dividend	Gains on selling financial investments at fair value	Dealing fees	Underwriting management fees	Special commission revenues
Q2 2022	2.23	3.77	3.39	0.97	0.10	-	0.47	2.40	1.42	1.03	-	-
Q4 2022	5.54	3.63	2.03	0.26	0.27	-	0.26	0.20	0.06	-	0.20	-
Q2 2023	26.03	3.85	0.99	0.57	0.38	0.56	0.28	0.13	0.01	-	-	-

Period	Gains on financial investments valuation at fair value	Fund management fees	Portfolio management fees	Custody and operation management fees	Murabaha loans revenues	Subscription management fees	Brokerage revenues, net	Cash dividend	Gains on selling financial investments at fair value	Dealing fees	Underwriting management fees	Special commission revenues
2021	34.15	7.99	3.57	1.11	0.20	-	1.42	0.25	2.06	-	-	0.01
2022	7.76	7.40	5.41	1.22	0.38	-	0.73	2.59	1.48	1.03	0.20	-
2023	45.47	8.48	3.02	1.31	0.67	-	0.49	0.36	0.01	-	0.56	-

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Osool & Bakheet net profit rises to SAR 25.5M in 2023

Financials (M)

Current Half Annual Comparison (M)

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Share Price

Osool and Bakheet Investment Co. (OSOOL AND BAKHEET)

Financial Ratios

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

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Osool & Bakheet net profit rises to SAR 25.5M in 2023

Financials (M)

Current Half Annual Comparison (M)

View other reports

Share Price

Osool and Bakheet Investment Co. (OSOOL AND BAKHEET)

Financial Ratios

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

Business Segments (Million) Q2 2023

Revenue by Business Segment (Latest) 2023 Q4

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