Amlak H1 net profit down 69% to SAR 17.4 mln; Q2 at SAR 6.3 mln

01/08/2023 Argaam Exclusive

Amlak International Finance Co. reported a net profit of SAR 17.4 million in H1 2023, a decline of 69% from SAR 55.7 million in the year-earlier period.



Financials (M)

Item 6m 2022 6m 2023 Change‬
Net income from finance commissions 103.61 84.01 (18.9 %)
Net Income 55.68 17.35 (68.8 %)
Average Shares 101.93 101.93 -
EPS (Riyals) 0.55 0.17 (68.8 %)

The profit drop was attributed to higher finance costs, impairment charges for expected credit losses and operating expenses. This was partially offset by an increase in special commission income.

 

The company reported a net profit of SAR 6.31 million in Q2 2023, a 77.9% pullback from SAR 28.56 million a year ago.

 

On a sequential basis, net earnings dropped by 42.8% from SAR 11.04 million.



Current Quarter Comparison (M)

Compared With The
Item Q2 2022 Q2 2023 Change‬
Net income from finance commissions 51.14 41.64 (18.6 %)
Net Income 28.56 6.31 (77.9 %)
Average Shares 101.93 101.93 -
EPS (Riyals) 0.28 0.06 (77.9 %)

Total shareholders’ equity, no minority interest, stood at SAR 1.182 billion as of June 30, 2023, compared to SAR 1.187 billion in the prior-year period.

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Share Price

Amlak International Finance Co.
12.50
0.10 0.81 %

Amlak International Finance Co. (AMLAK)

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Financial Ratios
Current
Market Cap (M) 1,274.06
Shares Outstanding ((M)) 101.93
EPS ( Riyal) (TTM) 0.35
Book Value (BV) ( Riyal) 11.77
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 35.34
P/E (TTM) 35.34
Price/book 1.06
Return on Average Assets (%) (TTM) 0.9
Return on Average Equity (%) (TTM) 3.0
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Financial results (Million)

Period Commission income from finance and investments Change Net income from finance commissions Change
Q1 2014 - - - -
Q2 2014 - - - -
Q3 2014 - - - -
Q4 2014 - - - -
Q1 2015 - - - -
Q2 2015 - - - -
Q3 2015 - - - -
Q4 2015 - - - -
Q1 2016 60.59 - 45.15 -
Q2 2016 65.61 - 46.33 -
Q3 2016 66.99 - 44.16 -
Q4 2016 67.19 - 42.94 -
Q1 2017 66.64 10.0 % 43.52 (3.6 %)
Q2 2017 67.01 2.1 % 44.55 (3.8 %)
Q3 2017 64.81 (3.3 %) 42.52 (3.7 %)
Q4 2017 67.54 0.5 % 43.66 1.7 %
Q1 2018 66.60 (0.1 %) 44.63 2.6 %
Q2 2018 62.94 (6.1 %) 40.68 (8.7 %)
Q3 2018 66.04 1.9 % 42.94 1.0 %
Q4 2018 71.63 6.1 % 49.17 12.6 %
Q1 2019 68.67 3.1 % 43.96 (1.5 %)
Q2 2019 68.89 9.5 % 44.72 9.9 %
Q3 2019 84.52 28.0 % 60.03 39.8 %
Q4 2019 74.26 3.7 % 51.03 3.8 %
Q1 2020 75.26 9.6 % 61.20 39.2 %
Q2 2020 73.16 6.2 % 52.34 17.0 %
Q3 2020 71.52 (15.4 %) 52.43 (12.7 %)
Q4 2020 58.79 (20.8 %) 45.02 (11.8 %)
Q1 2021 71.97 (4.4 %) 55.94 (8.6 %)
Q2 2021 70.61 (3.5 %) 54.37 3.9 %
Q3 2021 72.51 1.4 % 63.86 21.8 %
Q4 2021 69.38 18.0 % 54.23 20.5 %
Q1 2022 67.40 (6.3 %) 52.48 (6.2 %)
Q2 2022 69.82 (1.1 %) 51.14 (6.0 %)
Q3 2022 82.23 13.4 % 63.01 (1.3 %)
Q4 2022 72.02 3.8 % 52.91 (2.4 %)
Q1 2023 68.92 2.3 % 42.37 (19.3 %)
Q2 2023 72.83 4.3 % 41.64 (18.6 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) 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 24.82 - 0.24 - 24.82 0.24
Q2 2016 29.83 - 0.29 - 29.83 0.29
Q3 2016 27.34 - 0.27 - 27.34 0.27
Q4 2016 27.05 - 0.27 - 27.05 0.27
Q1 2017 21.45 (13.6 %) 0.21 - 21.45 0.21
Q2 2017 31.00 3.9 % 0.30 - 31.00 0.30
Q3 2017 26.04 (4.8 %) 0.26 - 26.04 0.26
Q4 2017 24.78 (8.4 %) 0.24 - 24.78 0.24
Q1 2018 23.92 11.5 % 0.23 - 23.92 0.23
Q2 2018 22.58 (27.1 %) 0.22 - 22.58 0.22
Q3 2018 22.97 (11.8 %) 0.23 - 22.97 0.23
Q4 2018 (8.32) (133.6 %) (0.08) - (8.32) (0.08)
Q1 2019 3.60 (85.0 %) 0.04 - 3.60 0.04
Q2 2019 19.68 (12.9 %) 0.19 - 19.68 0.19
Q3 2019 24.76 7.8 % 0.24 - 24.76 0.24
Q4 2019 21.98 364.2 % 0.22 - 21.98 0.22
Q1 2020 29.49 720.3 % 0.29 - 29.49 0.29
Q2 2020 23.80 20.9 % 0.23 - 23.80 0.23
Q3 2020 23.20 (6.3 %) 0.23 - 23.20 0.23
Q4 2020 22.41 2.0 % 0.22 - 22.41 0.22
Q1 2021 25.20 (14.6 %) 0.25 - 25.20 0.25
Q2 2021 28.22 18.6 % 0.28 - 28.22 0.28
Q3 2021 29.50 27.2 % 0.29 - 29.50 0.29
Q4 2021 24.84 10.8 % 0.24 - 24.84 0.24
Q1 2022 27.12 7.6 % 0.27 - 27.12 0.27
Q2 2022 28.56 1.2 % 0.28 - 28.56 0.28
Q3 2022 25.05 (15.1 %) 0.25 - 25.05 0.25
Q4 2022 15.99 (35.6 %) 0.16 - 15.99 0.16
Q1 2023 11.04 (59.3 %) 0.11 - 11.04 0.11
Q2 2023 6.31 (77.9 %) 0.06 - 6.31 0.06

Balance Sheet (B)

Period Assets Change Net Finance Investments Change
Q1 2014 - - - -
Q2 2014 - - - -
Q3 2014 - - - -
Q4 2014 - - - -
Q1 2015 - - - -
Q2 2015 - - - -
Q3 2015 - - - -
Q4 2015 - - - -
Q1 2016 3.19 - 2.93 -
Q2 2016 3.29 - 3.01 -
Q3 2016 3.28 - 3.09 -
Q4 2016 3.29 - 3.03 -
Q1 2017 3.27 2.5 % 3.03 3.5 %
Q2 2017 3.28 (0.4 %) 3.03 0.9 %
Q3 2017 3.32 1.2 % 3.17 2.4 %
Q4 2017 3.33 1.1 % 3.12 3.0 %
Q1 2018 3.20 (2.1 %) 3.03 0.1 %
Q2 2018 3.13 (4.5 %) 2.91 (4.2 %)
Q3 2018 3.13 (5.8 %) 2.94 (7.1 %)
Q4 2018 3.26 (1.9 %) 3.09 (1.0 %)
Q1 2019 3.22 0.6 % 3.02 (0.3 %)
Q2 2019 3.33 6.2 % 3.08 6.0 %
Q3 2019 3.18 1.9 % 2.99 1.7 %
Q4 2019 3.41 4.3 % 3.20 3.5 %
Q1 2020 3.50 8.9 % 3.28 8.5 %
Q2 2020 3.75 12.7 % 3.50 13.6 %
Q3 2020 3.85 21.0 % 3.59 19.9 %
Q4 2020 3.58 5.1 % 3.35 4.8 %
Q1 2021 3.65 4.3 % 3.31 1.1 %
Q2 2021 3.51 (6.5 %) 3.29 (6.1 %)
Q3 2021 3.73 (3.2 %) 3.44 (4.1 %)
Q4 2021 3.57 (0.4 %) 3.41 1.7 %
Q1 2022 3.67 0.4 % 3.53 6.4 %
Q2 2022 3.41 (2.7 %) 3.29 0.1 %
Q3 2022 3.43 (8.0 %) 3.28 (4.6 %)
Q4 2022 3.49 (2.3 %) 3.28 (3.7 %)
Q1 2023 3.41 (7.1 %) 3.19 (9.6 %)
Q2 2023 3.55 4.2 % 3.34 1.4 %

Profitability

Period Return On Average Assets Return on Average Equity Net Profit/Investment Income & Other Financing Operations
Q1 2014 - - -
Q2 2014 - - -
Q3 2014 - - -
Q4 2014 - - -
Q1 2015 - - -
Q2 2015 - - -
Q3 2015 - - -
Q4 2015 - - -
Q1 2016 - - -
Q2 2016 - - -
Q3 2016 - - -
Q4 2016 - - 41.88 %
Q1 2017 3.27 % 9.30 % 39.66 %
Q2 2017 3.25 % 9.70 % 39.89 %
Q3 2017 3.20 % 9.36 % 39.72 %
Q4 2017 3.12 % 8.97 % 38.82 %
Q1 2018 3.27 % 9.17 % 39.75 %
Q2 2018 3.03 % 8.72 % 37.16 %
Q3 2018 2.93 % 8.26 % 35.82 %
Q4 2018 1.86 % 5.33 % 22.89 %
Q1 2019 1.27 % 3.58 % 15.16 %
Q2 2019 1.17 % 3.36 % 13.78 %
Q3 2019 1.26 % 3.55 % 13.52 %
Q4 2019 2.10 % 6.22 % 23.62 %
Q1 2020 2.85 % 8.42 % 31.66 %
Q2 2020 2.83 % 8.65 % 32.56 %
Q3 2020 2.80 % 8.83 % 33.47 %
Q4 2020 2.83 % 8.70 % 35.48 %
Q1 2021 2.64 % 8.15 % 34.35 %
Q2 2021 2.73 % 8.61 % 36.29 %
Q3 2021 2.78 % 9.21 % 38.46 %
Q4 2021 3.02 % 9.21 % 37.88 %
Q1 2022 3.00 % 9.12 % 39.19 %
Q2 2022 3.18 % 9.49 % 39.42 %
Q3 2022 2.95 % 8.87 % 36.55 %
Q4 2022 2.74 % 7.97 % 33.18 %
Q1 2023 2.28 % 6.53 % 27.52 %
Q2 2023 1.68 % 4.93 % 19.73 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2014 - - - -
Q2 2014 - - - -
Q3 2014 - - - -
Q4 2014 - - - -
Q1 2015 - - - -
Q2 2015 - - - -
Q3 2015 - - - -
Q4 2015 - - - -
Q1 2016 101.93 - - 10.99
Q2 2016 101.93 - - 10.63
Q3 2016 101.93 - - 10.89
Q4 2016 101.93 1.07 1.07 11.12
Q1 2017 101.93 1.04 1.04 11.31
Q2 2017 101.93 1.05 1.05 10.98
Q3 2017 101.93 1.04 1.04 11.23
Q4 2017 101.93 1.01 1.01 11.47
Q1 2018 101.93 1.04 1.04 11.32
Q2 2018 101.93 0.95 0.95 10.91
Q3 2018 101.93 0.92 0.92 11.14
Q4 2018 101.93 0.60 0.60 11.06
Q1 2019 101.93 0.40 0.40 11.08
Q2 2019 101.93 0.37 0.37 11.24
Q3 2019 101.93 0.39 0.39 10.84
Q4 2019 101.93 0.69 0.69 11.04
Q1 2020 101.93 0.94 0.94 11.26
Q2 2020 101.93 0.98 0.98 11.46
Q3 2020 101.93 0.97 0.97 11.04
Q4 2020 101.93 0.97 0.97 11.27
Q1 2021 101.93 0.93 0.93 11.52
Q2 2021 101.93 0.97 0.97 11.11
Q3 2021 101.93 1.03 1.03 11.41
Q4 2021 101.93 1.06 1.06 11.69
Q1 2022 101.93 1.08 1.08 12.07
Q2 2022 101.93 1.08 1.08 11.65
Q3 2022 101.93 1.04 1.04 11.95
Q4 2022 101.93 0.95 0.95 12.12
Q1 2023 101.93 0.79 0.79 12.18
Q2 2023 101.93 0.57 0.57 11.60

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 - - -
Q4 2017 - - -
Q1 2018 - - -
Q2 2018 - - -
Q3 2018 - - -
Q4 2018 - - -
Q1 2019 - - -
Q2 2019 - - -
Q3 2019 - - -
Q4 2019 - - -
Q1 2020 - - -
Q2 2020 - - -
Q3 2020 21.86 21.86 1.91
Q4 2020 20.04 20.04 1.73
Q1 2021 21.22 21.22 1.71
Q2 2021 20.49 20.49 1.79
Q3 2021 20.06 20.06 1.82
Q4 2021 17.77 17.77 1.61
Q1 2022 17.66 17.66 1.57
Q2 2022 14.74 14.74 1.37
Q3 2022 14.16 14.16 1.23
Q4 2022 13.98 13.98 1.09
Q1 2023 17.17 17.17 1.12
Q2 2023 24.31 24.31 1.20

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