Saudi Top reports SAR 3.2 mln profit in H1 2023

09/08/2023 Argaam Exclusive

Saudi Top for Trading Co. reported a net profit of SAR 3.2 million in H1 2023, a decline of 87% from SAR 23.4 million in the year-earlier period.



Financials (M)

Item 6m 2022 6m 2023 Change‬
Revenues 105.80 67.66 (36.1 %)
Gross Income 34.46 10.53 (69.4 %)
Operating Income 24.12 3.79 (84.3 %)
Net Income 23.40 3.16 (86.5 %)
Average Shares 40.00 40.00 -
EPS (Riyals) 0.59 0.08 (86.5 %)

This was driven by the slowdown in the global petrochemical markets, which led to lower selling prices for most products and a decline in the quantities sold resulting in lower revenue.



Current Half Annual Comparison (M)

Compared With The
Item H1 2022 H1 2023 Change‬
Revenues 105.80 67.66 (36.1 %)
Gross Income 34.46 10.53 (69.4 %)
Operating Income 24.12 3.79 (84.3 %)
Net Income 23.40 3.16 (86.5 %)
Average Shares 40.00 40.00 -
EPS (Riyals) 0.59 0.08 (86.5 %)

Total shareholders’ equity, no minority interest, reached SAR 74.17 million as of June 30, 2023, compared to SAR 76.11 million a year earlier.

 

  Development of Financial Statements                                          

Period

Revenue

Net Profit

EPS

H1 2021

92.93

6.62

1.66

H1 2021

98.84

10.48

2.61

H1 2022

105.80

23.40

5.85

H1 2022

80.74

9.38

2.34

H1 2023

67.66

3.16

0.79
 

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Share Price

Saudi Top for Trading Co.
7.15
(0.07) (0.97 %)

Saudi Top for Trading Co. (SAUDI TOP)

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Financial Ratios
Current
Market Cap (M Riyal) 286.00
Enterprise Value (EV) (M) 279.18
Shares Outstanding ((M)) 40.00
Book Value (BV) ( Riyal) 1.70
Par Value ( Riyal) 1.00
Adjusted P/E (Last12) More than 100
Price/book 4.20
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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 92.93 - 15.12 - 7.02 -
H2 2021 98.84 - 20.64 - 11.03 -
H1 2022 105.80 13.8 % 34.46 128.0 % 24.12 243.6 %
H2 2022 80.75 (18.3 %) 19.61 (4.9 %) 9.82 (10.9 %)
H1 2023 67.66 (36.1 %) 10.53 (69.4 %) 3.79 (84.3 %)


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 6.62 - 0.17 - 6.62 0.17
H2 2021 10.48 - 0.26 - 10.48 0.26
H1 2022 23.40 253.5 % 0.59 - 23.40 0.59
H2 2022 8.86 (15.5 %) 0.22 - 8.86 0.22
H1 2023 3.16 (86.5 %) 0.08 - 3.16 0.08

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 18.64 % 10.94 % 8.91 %
H1 2022 26.92 % 18.79 % 16.55 %
H2 2022 28.99 % 20.23 % 17.29 %
H1 2023 20.31 % 12.08 % 8.09 %


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 40.00 - - -
H2 2021 40.00 0.43 0.43 1.47
H1 2022 40.00 0.85 0.85 1.90
H2 2022 40.00 0.81 0.81 2.14
H1 2023 40.00 0.30 0.30 1.85

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 14.01 14.01 5.29
H1 2023 33.30 33.30 5.39

Business Segments (Million)

Compared With The
Period The industrial sector The commercial sector
Q2 2021 80.31 12.61
Q4 2021 82.98 15.86
Q2 2022 86.20 19.60
Q4 2022 63.86 16.89
Q2 2023 51.36 16.29

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