Quara Finance net profit dips 10% to SAR 25.3M in H1 2024

21/10/2024 Argaam Exclusive

Quara Finance Co. posted a 10% decline in H1 2024 net earnings to SAR 25.3 million, from SAR 27.9 million in the year-earlier period.



Financials (M)

Item 6m 2023 6m 2024 Change‬
Net income from finance commissions 93.07 94.67 1.7 %
Net Income 27.90 25.25 (9.5 %)
Average Shares 30.00 30.00 -
EPS (Riyals) 0.93 0.84 (9.5 %)

The first-half net profit was hurt by an increase in impairment and write-off charges. On the other hand, revenue saw growth, primarily due to better financing portfolio returns.



Current Half Annual Comparison (M)

Compared With The
Item H1 2023 H1 2024 Change‬
Net income from finance commissions 93.07 94.67 1.7 %
Net Income 27.90 25.25 (9.5 %)
Average Shares 30.00 30.00 -
EPS (Riyals) 0.93 0.84 (9.5 %)

Total shareholders’ equity, no minority interest, rose to SAR 441.25 million as of June 30, 2024, from SAR 366.63 million a year earlier.

 

Attached Documents

 

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Share Price

Quara Finance Co.
17.48
0.44 2.58 %

Quara Finance Co. (QUARA)

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Financial Ratios
Current
Market Cap (M) 524.40
Shares Outstanding ((M)) 30.00
Book Value (BV) ( Riyal) 13.08
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 9.75
Price/book 1.34
more


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
H1 2015 - - - - - -
H2 2015 - - - - - -
H1 2016 - - - - - -
H2 2016 - - - - - -
H1 2017 - - - - - -
H2 2017 - - - - - -
H1 2018 - - - - - -
H2 2018 - - - - - -
H1 2019 (0.64) - (0.04) - (0.64) (0.04)
H2 2019 5.38 - 0.36 - 5.38 0.36
H1 2020 (27.75) (4,241.1 %) (1.85) - (27.75) (1.85)
H2 2020 (23.62) (538.8 %) (0.79) - (23.62) (0.79)
H1 2021 1.24 104.5 % 0.04 - 1.24 0.04
H2 2021 30.55 229.4 % 1.02 - 30.55 1.02
H1 2022 25.26 1935.4 % 0.84 - 25.26 0.84
H2 2022 25.58 (16.3 %) 0.85 - 25.58 0.85
H1 2023 27.90 10.4 % 0.93 - 27.90 0.93
H2 2023 25.89 1.2 % 0.86 - 25.89 0.86
H1 2024 25.25 (9.5 %) 0.84 - 25.25 0.84


Financial results (Million)

Period Commission income from finance and investments Change Net income from finance commissions Change
H1 2015 - - - -
H2 2015 - - - -
H1 2016 - - - -
H2 2016 - - - -
H1 2017 - - - -
H2 2017 - - - -
H1 2018 - - - -
H2 2018 - - - -
H1 2019 23.42 - 13.55 -
H2 2019 28.89 - 19.17 -
H1 2020 24.40 4.2 % 7.08 (47.7 %)
H2 2020 23.32 (19.3 %) 13.97 (27.1 %)
H1 2021 80.46 229.7 % 69.55 882.0 %
H2 2021 86.59 271.4 % 78.51 461.8 %
H1 2022 84.41 4.9 % 79.33 14.1 %
H2 2022 86.14 (0.5 %) 76.79 (2.2 %)
H1 2023 98.05 16.2 % 93.07 17.3 %
H2 2023 89.56 4.0 % 85.64 11.5 %
H1 2024 100.52 2.5 % 94.67 1.7 %

Balance Sheet (B)

Period Assets Change Net Finance Investments Change
Q2 2015 - - - -
Q4 2015 - - - -
Q2 2016 - - - -
Q4 2016 - - - -
Q2 2017 - - - -
Q4 2017 - - - -
Q2 2018 - - - -
Q4 2018 - - - -
Q2 2019 - - - -
Q4 2019 0.40 - 0.34 -
Q2 2020 0.57 - 0.38 -
Q4 2020 1.03 155.3 % 0.88 158.8 %
Q2 2021 1.12 95.3 % 1.05 179.4 %
Q4 2021 1.10 7.3 % 0.87 (0.8 %)
Q2 2022 1.01 (9.9 %) 0.70 (33.6 %)
Q4 2022 0.93 (15.6 %) 0.71 (18.5 %)
Q2 2023 0.89 (12.0 %) 0.73 3.7 %
Q4 2023 0.77 (17.8 %) 0.68 (4.7 %)
Q2 2024 0.78 (12.8 %) 0.62 (14.7 %)

Profitability

Period Return On Average Assets Return on Average Equity Net Profit/Investment Income & Other Financing Operations
H1 2015 - - -
H2 2015 - - -
H1 2016 - - -
H2 2016 - - -
H1 2017 - - -
H2 2017 - - -
H1 2018 - - -
H2 2018 - - -
H1 2019 - - -
H2 2019 - - 9.07 %
H1 2020 - (17.20 %) (41.97 %)
H2 2020 (7.18 %) (26.22 %) (107.64 %)
H1 2021 (2.64 %) (12.25 %) (21.56 %)
H2 2021 2.99 % 11.93 % 19.03 %
H1 2022 5.23 % 20.34 % 32.64 %
H2 2022 5.00 % 16.23 % 29.81 %
H1 2023 5.63 % 15.99 % 29.03 %
H2 2023 6.35 % 14.71 % 28.67 %
H1 2024 6.14 % 12.66 % 26.90 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
H1 2015 - - - -
H2 2015 - - - -
H1 2016 - - - -
H2 2016 - - - -
H1 2017 - - - -
H2 2017 - - - -
H1 2018 - - - -
H2 2018 - - - -
H1 2019 15.00 - - 9.41
H2 2019 15.00 0.32 0.32 9.77
H1 2020 15.00 (1.49) (1.49) 7.92
H2 2020 30.00 (1.71) (1.71) 8.17
H1 2021 30.00 (0.75) (0.75) 8.22
H2 2021 30.00 1.06 1.06 9.60
H1 2022 30.00 1.86 1.86 10.08
H2 2022 30.00 1.69 1.69 11.29
H1 2023 30.00 1.78 1.78 12.22
H2 2023 30.00 1.79 1.79 13.08
H1 2024 30.00 1.70 1.70 14.71

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 9.32 9.32 1.08

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