Al Kathiri turns to losses of SAR 4.5M in 2023; Q4 at SAR 7.8M

31/03/2024 Argaam Exclusive

Al Kathiri Holding Co. reported a net loss of SAR 4.5 million in 2023 against a net profit of SAR 1.7 million a year earlier.



Financials (M)

Item 2022 2023 Change‬
Revenues 129.37 129.18 (0.1 %)
Gross Income 15.07 22.75 51.0 %
Operating Income 3.23 3.32 3.0 %
Net Income 1.71 (4.14) (342.1 %)
Average Shares 226.04 226.04 -
EPS (Halala) 0.76 (1.83) (342.1 %)

The company attributed the losses to lower cement sales, higher financing costs (FCs), and reporting non-recurring expenses from listing the first issue of Al Kathiri Sukuk.



Current Quarter Comparison (M)

Compared With The
Item Q4 2022 Q4 2023 Change‬
Revenues 50.81 34.40 (32.3 %)
Gross Income 10.61 1.38 (87.0 %)
Operating Income 5.45 (4.86) (189.1 %)
Net Income 5.65 (7.37) (230.5 %)
Average Shares 226.04 226.04 -
EPS (Halala) 2.50 (3.26) (230.5 %)

In Q4 2023, Al Kathiri incurred net losses of SAR 7.75 million, compared to net profits of SAR 5.65 million in Q4 2022 and SAR 1.03 million in Q3 2023.

 

Total shareholders’ equity, after excluding minority interest, stood at SAR 131.03 million by Dec. 31, 2023, compared to SAR 135.21 million in the prior-year period.

 

On Oct. 28, 2023, Al Kathiri’s board of directors approved setting up a 100% owned one-person limited liability subsidiary with a capital of SAR 10 million.

View More Financial Results

 

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Share Price

Al Kathiri Holding Co.
2.55
0.03 1.19 %

Al Kathiri Holding Co. (ALKATHIRI)

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Financial Ratios
Current
Market Cap (M Riyal) 576.40
Enterprise Value (EV) (M) 658.80
Shares Outstanding ((M)) 226.04
EPS (Halala) (TTM) (2.37)
Book Value (BV) ( Riyal) 0.59
Par Value ( Halala) 50.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 4.33
Return on Average Assets (%) (TTM) (1.79 )
Return on Average Equity (%) (TTM) (3.94 )
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Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2014 - - - - - -
Q2 2014 - - - - - -
Q3 2014 - - - - - -
Q4 2014 - - - - - -
Q1 2015 - - - - - -
Q2 2015 - - - - - -
Q3 2015 - - - - - -
Q4 2015 - - - - - -
Q1 2016 - - - - - -
Q2 2016 - - - - - -
Q3 2016 - - - - - -
Q4 2016 - - - - - -
Q1 2017 2.03 - 0.22 - 0.10 -
Q2 2017 9.59 - 2.99 - 1.86 -
Q3 2017 14.44 - 5.53 - 4.09 -
Q4 2017 16.92 - 3.11 - 1.76 -
Q1 2018 13.80 580.6 % 4.08 1795.8 % 2.24 2143.0 %
Q2 2018 12.75 32.9 % 3.92 31.4 % 2.20 18.1 %
Q3 2018 13.67 (5.4 %) 5.49 (0.8 %) 3.48 (15.0 %)
Q4 2018 10.27 (39.3 %) 2.38 (23.5 %) 1.76 0.1 %
Q1 2019 26.10 89.2 % 7.80 91.3 % 4.54 102.4 %
Q2 2019 17.90 40.4 % 5.62 43.1 % 3.14 42.6 %
Q3 2019 18.02 31.8 % 6.68 21.6 % 4.20 20.9 %
Q4 2019 26.36 156.6 % 7.81 228.7 % 5.04 186.7 %
Q1 2020 25.57 (2.0 %) 7.48 (4.0 %) 4.06 (10.6 %)
Q2 2020 15.24 (14.9 %) 1.94 (65.4 %) (0.71) (122.6 %)
Q3 2020 26.55 47.4 % 5.76 (13.7 %) 2.55 (39.4 %)
Q4 2020 37.08 40.6 % 11.78 50.8 % 4.46 (11.5 %)
Q1 2021 35.21 37.7 % 9.90 32.3 % 4.50 10.7 %
Q2 2021 40.19 163.7 % 11.81 508.0 % 3.37 574.4 %
Q3 2021 41.48 56.2 % 11.37 97.3 % 5.44 113.5 %
Q4 2021 11.90 (67.9 %) 7.15 (39.3 %) 0.00 (100.0 %)
Q1 2022 25.27 (28.2 %) 1.03 (89.6 %) (1.60) (135.6 %)
Q2 2022 20.73 (48.4 %) (0.59) (105.0 %) (2.83) (183.9 %)
Q3 2022 32.56 (21.5 %) 4.02 (64.6 %) 2.20 (59.6 %)
Q4 2022 50.81 327.1 % 10.61 48.4 % 5.45 545100.0 %
Q1 2023 32.11 27.1 % 5.62 445.6 % 2.44 252.6 %
Q2 2023 32.67 57.6 % 7.29 1329.0 % 2.47 187.5 %
Q3 2023 30.00 (7.8 %) 8.48 110.9 % 3.27 48.7 %
Q4 2023 34.40 (32.3 %) 1.38 (87.0 %) (4.86) (189.1 %)
2023 129.18 (0.1 %) 22.75 51.0 % 3.32 3.0 %


Profit Performance (Million)

Period Net Income Change EPS(Halala) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2014 - - - - - -
Q2 2014 - - - - - -
Q3 2014 - - - - - -
Q4 2014 - - - - - -
Q1 2015 - - - - - -
Q2 2015 - - - - - -
Q3 2015 - - - - - -
Q4 2015 - - - - - -
Q1 2016 - - - - - -
Q2 2016 - - - - - -
Q3 2016 - - - - - -
Q4 2016 - - - - - -
Q1 2017 0.09 - 0.04 - 0.09 0.00
Q2 2017 1.77 - 0.83 - 1.77 0.01
Q3 2017 3.27 - 1.53 (0.78) 4.05 0.02
Q4 2017 1.52 - 0.71 - 1.52 0.01
Q1 2018 2.27 2365.2 % 1.06 - 2.27 0.01
Q2 2018 2.27 28.2 % 1.06 - 2.27 0.01
Q3 2018 3.40 3.9 % 1.59 - 3.40 0.02
Q4 2018 1.37 (9.6 %) 0.64 - 1.37 0.01
Q1 2019 4.57 101.5 % 2.14 - 4.57 0.02
Q2 2019 3.01 32.7 % 1.41 - 3.01 0.01
Q3 2019 4.15 22.1 % 1.94 - 4.15 0.02
Q4 2019 4.29 212.4 % 2.01 - 4.29 0.02
Q1 2020 3.63 (20.6 %) 1.70 - 3.63 0.02
Q2 2020 (1.29) (143.0 %) (0.60) - (1.29) (0.01)
Q3 2020 2.64 (36.4 %) 1.23 - 2.64 0.01
Q4 2020 4.69 9.1 % 2.07 - 4.69 0.02
Q1 2021 4.18 15.1 % 1.85 - 4.18 0.02
Q2 2021 3.07 337.6 % 1.36 - 3.07 0.01
Q3 2021 4.49 70.2 % 1.99 - 4.49 0.02
Q4 2021 (3.07) (165.6 %) (1.36) (1.61) (1.47) (0.01)
Q1 2022 (2.06) (149.3 %) (0.91) - (2.06) (0.01)
Q2 2022 (3.46) (212.7 %) (1.53) - (3.46) (0.02)
Q3 2022 1.58 (64.7 %) 0.70 - 1.58 0.01
Q4 2022 5.65 283.8 % 2.50 2.46 3.19 0.01
Q1 2023 1.56 175.9 % 0.69 - 1.56 0.01
Q2 2023 0.64 118.5 % 0.28 - 0.64 0.00
Q3 2023 1.03 (35.0 %) 0.46 - 1.03 0.00
Q4 2023 (7.37) (230.5 %) (3.26) - (7.37) (0.03)
2023 (4.14) (342.1 %) (1.83) - (4.14) (0.02)

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2014 - - -
Q2 2014 - - -
Q3 2014 - - -
Q4 2014 - - -
Q1 2015 - - -
Q2 2015 - - -
Q3 2015 - - -
Q4 2015 - - -
Q1 2016 - - -
Q2 2016 - - -
Q3 2016 - - -
Q4 2016 - - -
Q1 2017 - - -
Q2 2017 - - -
Q3 2017 - - -
Q4 2017 27.55 % 23.34 % 17.28 %
Q1 2018 28.68 % 24.22 % 17.54 %
Q2 2018 28.73 % 24.51 % 17.45 %
Q3 2018 29.05 % 24.71 % 16.54 %
Q4 2018 31.43 % 28.84 % 18.43 %
Q1 2019 31.20 % 27.05 % 18.49 %
Q2 2019 31.32 % 26.38 % 18.18 %
Q3 2019 31.08 % 25.75 % 18.12 %
Q4 2019 31.57 % 24.95 % 18.12 %
Q1 2020 31.41 % 24.45 % 17.16 %
Q2 2020 28.07 % 20.81 % 12.65 %
Q3 2020 24.54 % 17.17 % 9.89 %
Q4 2020 25.82 % 14.90 % 9.25 %
Q1 2021 25.75 % 14.30 % 8.95 %
Q2 2021 28.23 % 15.10 % 10.48 %
Q3 2021 29.13 % 15.87 % 10.67 %
Q4 2021 31.23 % 16.25 % 7.98 %
Q1 2022 26.38 % 13.92 % 3.40 %
Q2 2022 19.07 % 11.74 % (2.51 %)
Q3 2022 12.83 % 11.00 % (5.97 %)
Q4 2022 11.64 % 12.74 % (0.58 %)
Q1 2023 14.43 % 15.23 % 2.11 %
Q2 2023 18.59 % 17.69 % 4.71 %
Q3 2023 21.98 % 18.78 % 4.41 %
Q4 2023 17.63 % 13.21 % (3.20 %)
2023 17.61 % 13.21 % (3.20 %)


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Halala) Adjusted EPS (Halala) Book Value (BV)
Q1 2014 - - - -
Q2 2014 - - - -
Q3 2014 - - - -
Q4 2014 - - - -
Q1 2015 - - - -
Q2 2015 - - - -
Q3 2015 - - - -
Q4 2015 - - - -
Q1 2016 - - - -
Q2 2016 - - - -
Q3 2016 - - - -
Q4 2016 - - - -
Q1 2017 213.84 - - 0.13
Q2 2017 213.84 - - 0.16
Q3 2017 213.84 - - 0.21
Q4 2017 213.84 3.11 3.47 0.21
Q1 2018 213.84 4.13 4.49 0.23
Q2 2018 213.84 4.36 4.73 0.24
Q3 2018 213.84 4.42 4.42 0.25
Q4 2018 213.84 4.35 4.35 0.26
Q1 2019 213.84 5.43 5.43 0.28
Q2 2019 213.84 5.77 5.77 0.29
Q3 2019 213.84 6.13 6.13 0.31
Q4 2019 213.84 7.49 7.49 0.33
Q1 2020 213.84 7.05 7.05 0.35
Q2 2020 213.84 5.04 5.04 0.34
Q3 2020 213.84 4.33 4.33 0.36
Q4 2020 226.04 4.27 4.27 0.56
Q1 2021 226.04 4.52 4.52 0.57
Q2 2021 226.04 6.45 6.45 0.59
Q3 2021 226.04 7.27 7.27 0.61
Q4 2021 226.04 3.83 4.54 0.59
Q1 2022 226.04 1.07 1.79 0.58
Q2 2022 226.04 (1.82) (1.11) 0.57
Q3 2022 226.04 (3.10) (2.39) 0.57
Q4 2022 226.04 0.76 (0.33) 0.60
Q1 2023 226.04 2.36 1.27 0.61
Q2 2023 226.04 4.17 3.09 0.61
Q3 2023 226.04 3.93 2.84 0.61
Q4 2023 226.04 (1.83) (1.83) 0.58

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2014 - - -
Q2 2014 - - -
Q3 2014 - - -
Q4 2014 - - -
Q1 2015 - - -
Q2 2015 - - -
Q3 2015 - - -
Q4 2015 - - -
Q1 2016 - - -
Q2 2016 - - -
Q3 2016 - - -
Q4 2016 - - -
Q1 2017 - - -
Q2 2017 - - -
Q3 2017 - - 1.43
Q4 2017 10.94 9.79 1.58
Q1 2018 8.22 7.55 1.51
Q2 2018 9.60 8.86 1.77
Q3 2018 10.53 10.53 1.85
Q4 2018 25.14 25.14 4.24
Q1 2019 16.11 16.11 3.13
Q2 2019 23.32 23.32 4.59
Q3 2019 16.43 16.43 3.22
Q4 2019 39.36 39.36 8.85
Q1 2020 25.82 25.82 5.20
Q2 2020 40.34 40.34 5.91
Q3 2020 84.82 84.82 10.33
Q4 2020 79.43 79.43 6.11
Q1 2021 86.77 86.77 6.83
Q2 2021 65.00 65.00 7.14
Q3 2021 55.95 55.95 6.70
Q4 2021 91.16 76.90 5.91
Q1 2022 More than 100 More than 100 5.69
Q2 2022 NEG NEG 3.90
Q3 2022 NEG NEG 3.83
Q4 2022 More than 100 NEG 2.97
Q1 2023 More than 100 More than 100 5.62
Q2 2023 74.02 More than 100 5.08
Q3 2023 74.32 More than 100 4.77
Q4 2023 NEG NEG 4.59

Business Segments (Million)

Compared With The
Period Concrete sales Cement sales Construction projects Concrete wall sales Construction Revenue Sand and white Pebble sales
Q1 2021 13.66 12.50 1.52 - - 7.52
Q2 2021 15.04 11.65 - - - 13.50
Q3 2021 19.93 13.39 0.51 - - 7.65
Q1 2022 17.43 6.36 1.48 - - -
Q2 2022 13.82 4.46 0.42 2.03 - -
Q3 2022 22.01 4.27 0.25 6.03 - -
Q4 2022 44.20 4.98 0.05 1.58 - -
Q1 2023 21.02 4.05 5.34 1.70 - -
Q2 2023 21.91 1.41 0.07 2.55 - 6.72
Q3 2023 21.73 1.28 5.82 1.16 - -
Q4 2023 26.98 3.16 - 4.17 0.09 -

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