Sumou profit grows 9% to SAR 49.6 mln in H1 2023

24/08/2023 Argaam Exclusive

Sumou Real Estate Co. reported a 9% rise in H1 2023 net profit to SAR 49.6 million from SAR 45.5 million in H1 2022. 



Financials (M)

Item 6m 2022 6m 2023 Change‬
Revenues 156.08 119.70 (23.3 %)
Gross Income 32.22 55.74 73.0 %
Operating Income 27.39 50.32 83.7 %
Net Income 45.45 49.60 9.1 %
Average Shares 50.00 50.00 -
EPS (Riyals) 0.91 0.99 9.1 %

The higher profit was spurred by better revenues from the management of real estate projects, along with lower costs of construction works.



Current Half Annual Comparison (M)

Compared With The
Item H1 2022 H1 2023 Change‬

Total shareholders’ equity, no minority interest, reached SAR 545.3 million as of June 30, 2023, compared to SAR 481.9 million a year earlier. 

 

                                                                  Historical Data

Period

Revenue

(SAR mln)

Net Profit

(SAR mln)

EPS

(SAR)

H1 2018

119.54

29.18

0.78

H2 2018

138.21

38.30

1.02

H1 2019

95.28

30.36

0.81

H2 2019

84.71

39.44

1.05

H1 2020

49.91

36.05

0.96

H2 2020

47.25

35.33

0.94

H1 2021

33.34

47.50

1.27

H2 2021

69.79

33.71

0.90

H1 2022

156.08

45.45

1.21

H2 2022

126.34

42.19

1.13

H1 2023

119.70

49.60

1.32

 

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Financial Ratios
Current
Market Cap (M Riyal) 1,942.50
Enterprise Value (EV) (M) 1,828.03
Shares Outstanding ((M)) 50.00
Book Value (BV) ( Riyal) 10.73
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 18.49
Price/book 3.62
more


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
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 66.44 - 18.33 - 14.71 -
H1 2023 66.97 - 43.05 - 40.58 -


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 - - - - - -
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 15.72 - 0.31 - 15.72 0.31
H1 2023 40.68 - 0.81 - 40.68 0.81

Profitability

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 - - -
H2 2022 - - -
H1 2023 40.73 % 37.07 % 37.30 %


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 - - - -
H2 2022 50.00 - - 10.68
H1 2023 50.00 1.84 1.84 10.91

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 - - 3.48
H1 2023 20.20 20.20 3.40

Business Segments (Million)

Compared With The
Period Real estate contracting Real estate project management investment Joint assets and liabilities Other activities
Q2 2023 20.75 46.22 - - -

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