MOBI posts 22% drop in H1 2022 net profit to SAR 9.5 mln

MOBI posts 22% drop in H1 2022 net profit to SAR 9.5 mln

11/09/2022 Argaam Exclusive

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National Fertilizer Co. (MOBI) posted a 22% fall in H1 2022 net profit after Zakat and tax to SAR 9.5 million, compared to SAR 12.2 million a year earlier. 



Financials (M)

Item 6m 2021 6m 2022 Change‬
Revenues 86.90 97.76 12.5 %
Gross Income 27.44 24.57 (10.4 %)
Operating Income 12.35 9.19 (25.7 %)
Net Income 12.21 9.48 (22.4 %)
Average Shares 50.00 50.00 -
EPS (Riyals) 0.24 0.19 (22.4 %)

The company was hit by higher raw material prices, compared to the first half of 2021. The profit decrease came despite sales growth.



Current Half Annual Comparison (M)

Compared With The
Item H1 2021 H1 2022 Change‬
Revenues 86.90 97.76 12.5 %
Gross Income 27.44 24.57 (10.4 %)
Operating Income 12.35 9.19 (25.7 %)
Net Income 12.21 9.48 (22.4 %)
Average Shares 50.00 50.00 -
EPS (Riyals) 0.24 0.19 (22.4 %)

Shareholders’ equity, after minority interest, rose to SAR 69.140 million as of June 30, 2022, from SAR 66.288 million a year earlier.

 

Selling prices have been gradually adjusted since April 2022 to overcome increased raw material prices. The selling prices of fertilizers were raised by 65% on average.

 

View more financial results

 


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
H1 2013 - - - - - -
H2 2013 - - - - - -
H1 2014 - - - - - -
H2 2014 - - - - - -
H1 2015 - - - - - -
H2 2015 - - - - - -
H1 2016 - - - - - -
H2 2016 - - - - - -
H1 2017 - - - - - -
H2 2017 - - - - - -
H1 2018 - - - - - -
H2 2018 - - - - - -
H1 2019 78.28 - 25.29 - 10.15 -
H2 2019 76.73 - 22.34 - 7.57 -
H1 2020 96.03 22.7 % 31.35 23.9 % 11.35 11.8 %
H2 2020 84.40 10.0 % 25.73 15.2 % 6.49 (14.2 %)
H1 2021 86.90 (9.5 %) 27.44 (12.5 %) 12.35 8.9 %
H2 2021 83.48 (1.1 %) 19.45 (24.4 %) 4.46 (31.3 %)
H1 2022 97.76 12.5 % 24.57 (10.4 %) 9.19 (25.7 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
H1 2013 - - - - - -
H2 2013 - - - - - -
H1 2014 - - - - - -
H2 2014 - - - - - -
H1 2015 - - - - - -
H2 2015 - - - - - -
H1 2016 - - - - - -
H2 2016 - - - - - -
H1 2017 - - - - - -
H2 2017 - - - - - -
H1 2018 - - - - - -
H2 2018 - - - - - -
H1 2019 8.56 - 0.17 - 8.56 0.17
H2 2019 1.76 - 0.04 (4.83) 6.59 0.13
H1 2020 11.05 29.1 % 0.22 - 11.05 0.22
H2 2020 6.33 259.3 % 0.13 - 6.33 0.13
H1 2021 12.21 10.4 % 0.24 - 12.21 0.24
H2 2021 3.92 (38.0 %) 0.08 - 3.92 0.08
H1 2022 9.48 (22.4 %) 0.19 - 9.48 0.19

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
H1 2013 - - -
H2 2013 - - -
H1 2014 - - -
H2 2014 - - -
H1 2015 - - -
H2 2015 - - -
H1 2016 - - -
H2 2016 - - -
H1 2017 - - -
H2 2017 - - -
H1 2018 - - -
H2 2018 - - -
H1 2019 - - -
H2 2019 30.73 % - 9.77 %
H1 2020 31.08 % 12.61 % 10.21 %
H2 2020 31.63 % 12.83 % 9.63 %
H1 2021 31.03 % 12.52 % 10.82 %
H2 2021 27.52 % 11.50 % 9.47 %
H1 2022 24.29 % 9.71 % 7.39 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
H1 2013 - - - -
H2 2013 - - - -
H1 2014 - - - -
H2 2014 - - - -
H1 2015 - - - -
H2 2015 - - - -
H1 2016 - - - -
H2 2016 - - - -
H1 2017 - - - -
H2 2017 - - - -
H1 2018 - - - -
H2 2018 - - - -
H1 2019 50.00 - - -
H2 2019 50.00 0.21 0.30 1.29
H1 2020 50.00 0.26 0.35 1.37
H2 2020 50.00 0.35 0.35 1.18
H1 2021 50.00 0.37 0.37 1.33
H2 2021 50.00 0.32 0.32 1.29
H1 2022 50.00 0.27 0.27 1.38

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
H1 2013 - - -
H2 2013 - - -
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 41.17 41.17 10.33
H1 2022 27.80 27.80 5.39

Business Segments (Million)

Compared With The
Period Detergents Fertilizer Agricultural Activity Food sector Plastic Eliminations
Q2 2020 71.38 11.85 8.75 4.04 - -
Q4 2020 67.09 8.02 5.29 6.29 - (2.30)
Q2 2021 76.28 10.62 - - - -
Q4 2021 68.57 14.91 - - - -
Q2 2022 83.76 14.00 - - - -


Financial Ratios
Current
Market Cap (M Riyal) 762.00
Enterprise Value (EV) (M) 759.65
Shares Outstanding ((M)) 50.00
Book Value (BV) ( Riyal) 1.31
Par Value ( Riyal) 1.00
Adjusted P/E (Last12) 25.11
Price/book 11.63
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Share Price

MOBI Industry Co.
15.24
(0.26) (1.68 %)

MOBI Industry Co. (MOBI INDUSTRY)

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