Avalon Pharma profit up 21% to SAR 79.9M in 2024; Q4 at SAR 44.8M
Middle East Pharmaceutical Industries Co. (Avalon Pharma) posted a net profit of SAR 79.9 million for 2024, a rise of 21% from SAR 65.8 million a year earlier.
Financials (Million Riyal)
| Item | 2023 | 2024 | Change |
|---|---|---|---|
| Revenues | 338.44 | 394.00 | 16.4 % |
| Gross Income | 204.02 | 243.36 | 19.3 % |
| Operating Income | 78.68 | 89.88 | 14.2 % |
| Net Income | 65.83 | 79.85 | 21.3 % |
| Average Shares | 35.00 | 35.00 | - |
| Earnings Per Share before unusual items (Riyals) | 1.88 | 2.26 | 20.3 % |
| EPS (Riyal) | 1.88 | 2.28 | 21.3 % |
Current Quarter Comparison (Million Riyal)
| Item | Q4 2023 | Q4 2024 | Change |
|---|---|---|---|
| Revenues | 129.17 | 135.99 | 5.3 % |
| Gross Income | 83.39 | 89.08 | 6.8 % |
| Operating Income | 48.82 | 46.34 | (5.1 %) |
| Net Income | 45.40 | 44.81 | (1.3 %) |
| Average Shares | 35.00 | 35.00 | - |
| Earnings Per Share before unusual items (Riyal) | 1.30 | 1.26 | (2.7 %) |
| EPS (Riyal) | 1.30 | 1.28 | (1.3 %) |
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Share Price
| Current | |
| Market Cap (M Riyal) | 2,257.50 |
| Enterprise Value (EV) (M Riyal) | 2,324.52 |
| Shares Outstanding ((M)) | 35.00 |
| Recurring EPS ( Riyal) (TTM) | 3.30 |
| Book Value (BV) ( Riyal) | 12.42 |
| Par Value ( Riyal) | 10.00 |
| Recurring P/E (TTM) | 19.52 |
| P/E (TTM) | 19.52 |
| Price/book | 5.19 |
| Dividend Yield (%) (Last Year) | 2.14 |
| Return on Average Assets (%) (TTM) | 18.4 |
| Return on Average Equity (%) (TTM) | 28.7 |
| EV/Revenues | 4.40 |
Financial results (Million Riyal)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| Q1 2024 | 75.82 | 37.3 % | 45.30 | 34.3 % | 12.32 | 316.4 % |
| Q2 2024 | 101.13 | 8.4 % | 63.28 | 20.2 % | 24.51 | 17.4 % |
| Q3 2024 | 81.06 | 33.4 % | 45.70 | 33.5 % | 6.68 | 10.8 % |
| Q4 2024 | 135.99 | 5.3 % | 89.08 | 6.8 % | 46.34 | (5.1 %) |
| 2024 | 394.00 | 16.4 % | 243.36 | 19.3 % | 89.88 | 14.2 % |
Profit Performance (Million Riyal)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS(Riyal) |
|---|---|---|---|---|---|---|
| Q1 2024 | 9.37 | 1987.0 % | 0.27 | - | 9.37 | 0.27 |
| Q2 2024 | 21.81 | 20.8 % | 0.62 | - | 21.81 | 0.62 |
| Q3 2024 | 3.87 | 34.4 % | 0.11 | - | 3.87 | 0.11 |
| Q4 2024 | 44.81 | (1.3 %) | 1.28 | 0.65 | 44.15 | 1.26 |
| 2024 | 79.85 | 21.3 % | 2.28 | 0.65 | 79.20 | 2.26 |
Profitability
| Period | Gross Margin | Adjusted EBITDA margin | Net Margin Before Unusual Items |
|---|---|---|---|
| Q1 2023 | - | - | - |
| Q2 2023 | - | - | - |
| Q3 2023 | - | - | - |
| Q4 2023 | 60.28 % | 26.77 % | 19.45 % |
| 2023 | 60.28 % | 26.77 % | 19.45 % |
| Q1 2024 | 60.05 % | 27.96 % | 21.08 % |
| Q2 2024 | 61.66 % | 28.49 % | 21.66 % |
| Q3 2024 | 61.39 % | 27.48 % | 20.78 % |
| Q4 2024 | 61.77 % | 26.82 % | 20.10 % |
| 2024 | 61.77 % | 26.83 % | 20.10 % |
Compared With The
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Earnings Per Share before unusual items (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| Q1 2024 | 35.00 | 2.16 | 2.16 | 9.01 |
| Q2 2024 | 35.00 | 2.27 | 2.27 | 9.63 |
| Q3 2024 | 35.00 | 2.30 | 2.30 | 9.32 |
| Q4 2024 | 35.00 | 2.28 | 2.26 | 10.52 |
Multiple Ratios (End of Period Price)
| Period | P/E | Recurring P/E | Price/book |
|---|---|---|---|
| Q1 2024 | 38.68 | 38.68 | 9.28 |
| Q2 2024 | 33.12 | 33.12 | 7.81 |
| Q3 2024 | 34.80 | 34.80 | 8.58 |
| Q4 2024 | 30.51 | 30.76 | 6.62 |
Business Segments (Million Riyal)
Q4 2024
| Period | Private customers | Public Customers | Export customers |
|---|---|---|---|
| Q1 2024 | 54.78 | 12.11 | 8.94 |
| Q2 2024 | 71.78 | 18.08 | 11.28 |
| Q3 2024 | 41.77 | 26.88 | 12.41 |
| Q4 2024 | 99.97 | 18.62 | 17.40 |
Analysts Estimates (Million Riyal)
| Item | Profit (Expected) | Profit (Actual) | Change |
|---|---|---|---|
| Average | 50.36 | 44.81 |
Estimates vs Actual (Million Riyal)
| Item | Profit (Expected) | Profit (Actual) | Change | Profit Before Unusual Items | Change |
|---|---|---|---|---|---|
| Al Rajhi Capital | 49.00 | 44.81 | 44.15 | ||
| SNB Capital | 49.10 | 44.81 | 44.15 | ||
| GIB Capital | 50.00 | 44.81 | 44.15 | ||
| OSOOL AND BAKHEET | 53.34 | 44.81 | 44.15 |
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