Shalfa net profit rises 10% to SAR 10M in H1 2024

29/09/2024 Argaam Exclusive
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Shalfa Facilities Management Co., poised to list on Nomu-Parallel Market, reported SAR 10 million in net profit for H1 2024, an increase of 10% from SAR 9.1 million in the prior-year period.

The annual profit rise was attributed to a 27% year-on-year (YoY) jump in the six-month topline, coupled with higher other revenues and EBITDA.

 

This came although the gross profit margin decreased to 15% by the end of the first six months of 2024, compared to 17% for the same period a year ago as the cost of revenues ratio soared YoY to 85%.

 

Further, the operating profit margin plunged YoY to 9% in H1 2024 as general and administrative expenses inched up on an annual basis. For the same period, the net profit margin also fell YoY to 7% as the company’s financial burdens climbed YoY to SAR 4 million.



Current Half Annual Comparison (M)

Compared With The
Item H1 2023 H1 2024 Change‬
Revenues 119.09 151.69 27.4 %
Gross Income 20.75 23.26 12.1 %
Operating Income 12.36 14.01 13.4 %
Net Income 9.06 9.96 10.0 %
Average Shares 4.20 4.20 -
Earnings Per Share before unusual items 2.16 2.37 10.0 %
EPS (Riyals) 2.16 2.37 10.0 %

Shareholders' equity (no minority interest) amounted to SAR 71.63 million in H1 2024, compared to SAR 57.99 million in the same period a year earlier.

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Share Price

Shalfa Facilities Management Co.
79.00
0.00 0.00 %

Shalfa Facilities Management Co. (SHALFA)

1 Day (0.38 %) 5 Days (3.66 %) 3 Months (12.22 %) 6 Months (0.38 %) Year (0.38 %) 2 Years (0.38 %) 5 Years (0.38 %) All (0.38 %)
Created with Highstock 6.0.710:1510:3010:4511:0011:1511:3011:4512:0012:1512:3012:4513:0013:1513:3013:4514:0014:1579.0079.1079.2079.3079.4079.5079.6079.7079.8079.9080.00
Close : 79.20 | Mar 27, 14:22
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Financial Ratios
Current
Market Cap (M Riyal) 331.80
Enterprise Value (EV) (M) -
Shares Outstanding ((M)) 4.20
Book Value (BV) ( Riyal) 20.81
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 15.72
Price/book 3.80
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Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
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 119.09 - 20.75 - 12.36 -
H2 2023 141.29 - 28.15 - 17.12 -
2023 260.38 111.5 % 48.90 86.5 % 29.47 119.8 %
H1 2024 151.69 27.4 % 23.26 12.1 % 14.01 13.4 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items Earnings Per Share before unusual items
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 9.06 - 2.16 - 9.06 2.16
H2 2023 16.31 - 3.88 - 16.31 3.88
2023 25.36 166.4 % 6.04 - 25.36 6.04
H1 2024 9.96 10.0 % 2.37 - 9.96 2.37

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
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 18.78 % 13.64 % 9.74 %
H1 2024 17.55 % 12.89 % 8.97 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Earnings Per Share before unusual items (Riyal) Book Value (BV)
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 4.20 - - 13.81
H2 2023 4.20 6.04 6.04 16.26
H1 2024 4.20 6.25 6.25 17.06

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
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 - - -
H1 2024 - - -

Business Segments (Million)

Compared With The
Period Facilities Management Services Environmental Services Rental Income from Investment Property Project Management Services
Q2 2023 100.64 18.29 0.12 0.05
Q4 2023 127.53 13.85 - 0.02
Q2 2024 142.02 9.52 0.14 -

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