Bahri Q1 2024 profit falls 8% to SAR 452.9M

02/05/2024 Argaam Exclusive

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National Shipping Company of Saudi Arabia (Bahri) posted an 8% fall in Q1 2024 net profit to SAR 452.9 million from SAR 492.5 million a year earlier.

Current Quarter Comparison (M)

Compared With The

Item	Q1 2023	Q1 2024	Change‬
Revenues	2,375.22	2,313.08	(2.6 %)
Gross Income	615.24	663.09	7.8 %
Operating Income	576.61	603.10	4.6 %
Net Income	492.49	452.93	(8.0 %)
Average Shares	738.28	738.28	0.0 %
EPS (Riyals)	0.67	0.61	(8.0 %)

Item	Q4 2023	Q1 2024	Change‬
Revenues	2,023.44	2,313.08	14.3 %
Gross Income	516.43	663.09	28.4 %
Operating Income	418.20	603.10	44.2 %
Net Income	401.23	452.93	12.9 %
Average Shares	738.28	738.28	-
EPS (Riyals)	0.54	0.61	12.9 %

This was attributed to a 3% year-on-year (YoY) decline in Q1 2024 revenues on lower revenues from some segments, especially oil transportation whose revenues decreased YoY by SAR 121 million, due to weak operating activities. Meanwhile, the chemicals transportation segment's revenues increased YoY by SAR 82 million during the same quarter, due to growth in operating activities and shipping rates for this segment.

This is in addition to a SAR 67 million fall in net profits of the company’s share in the results of equity accounted investees compared with a year earlier.

The logistics segment's gross profit also dropped YoY by SAR 60 million due to the decline in operating activities compared with the same quarter last year.

However, this was offset by a SAR 48 million YoY increase in gross profit in Q1 2024, driven by the improvement in the operating activities of some segments.

Sequentially, the three-month net earnings leapt 12.9% from SAR 401.23 million in Q4 2023, mainly spurred by a 14% hike in revenues and a SAR 147 million increase in gross profit.

Total shareholders’ equity, after minority interest, leapt to SAR 12.29 billion by the end of Q1 2024, from SAR 10.98 billion in the corresponding period of the year before.

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Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
Q1 2015	1,642.46	113.0 %	455.21	142.9 %	427.94	156.7 %
Q2 2015	1,810.69	137.5 %	440.43	221.7 %	411.92	245.3 %
Q3 2015	1,917.64	131.2 %	611.25	417.6 %	545.29	490.1 %
Q4 2015	2,110.78	67.0 %	689.63	197.5 %	594.87	202.1 %
2015	7,464.02	105.8 %	2,196.52	225.8 %	1,980.03	244.1 %
Q1 2016	1,957.74	19.2 %	747.13	64.1 %	709.67	65.8 %
Q2 2016	1,835.25	1.4 %	555.39	26.1 %	522.95	27.0 %
Q3 2016	1,374.13	(28.3 %)	251.47	(58.9 %)	226.20	(58.5 %)
Q4 2016	1,621.37	(23.2 %)	338.33	(50.9 %)	322.44	(45.8 %)
2016	6,788.48	(9.1 %)	1,892.33	(13.8 %)	1,781.27	(10.0 %)
Q1 2017	1,937.84	(1.0 %)	477.79	(36.0 %)	438.50	(38.2 %)
Q2 2017	1,390.83	(24.2 %)	267.50	(51.8 %)	230.75	(55.9 %)
Q3 2017	1,283.62	(6.6 %)	209.54	(16.7 %)	173.22	(23.4 %)
Q4 2017	1,433.55	(11.6 %)	365.85	8.1 %	306.93	(4.8 %)
2017	6,045.84	(10.9 %)	1,320.68	(30.2 %)	1,149.41	(35.5 %)
Q1 2018	1,457.32	(24.8 %)	303.78	(36.4 %)	247.81	(43.5 %)
Q2 2018	1,496.97	7.6 %	334.47	25.0 %	304.47	31.9 %
Q3 2018	1,393.92	8.6 %	203.87	(2.7 %)	143.16	(17.4 %)
Q4 2018	1,781.70	24.3 %	404.86	10.7 %	378.65	23.4 %
2018	6,129.91	1.4 %	1,246.98	(5.6 %)	1,077.47	(6.3 %)
Q1 2019	1,705.77	17.0 %	426.18	40.3 %	373.20	50.6 %
Q2 2019	1,440.28	(3.8 %)	240.13	(28.2 %)	198.17	(34.9 %)
Q3 2019	1,481.56	6.3 %	296.11	45.2 %	240.74	68.2 %
Q4 2019	1,939.40	8.9 %	464.58	14.8 %	377.75	(0.2 %)
2019	6,567.02	7.1 %	1,427.00	14.4 %	1,194.08	10.8 %
Q1 2020	2,082.18	22.1 %	561.35	31.7 %	498.88	33.7 %
Q2 2020	3,532.43	145.3 %	962.62	300.9 %	919.60	364.0 %
Q3 2020	1,510.30	1.9 %	379.89	28.3 %	307.24	27.6 %
Q4 2020	1,268.09	(34.6 %)	218.02	(53.1 %)	160.74	(57.4 %)
2020	8,393.00	27.8 %	2,121.87	48.7 %	1,886.46	58.0 %
Q1 2021	1,189.20	(42.9 %)	84.20	(85.0 %)	56.05	(88.8 %)
Q2 2021	1,294.76	(63.3 %)	127.27	(86.8 %)	78.63	(91.4 %)
Q3 2021	1,320.58	(12.6 %)	133.10	(65.0 %)	89.71	(70.8 %)
Q4 2021	1,546.54	22.0 %	211.93	(2.8 %)	163.98	2.0 %
2021	5,351.08	(36.2 %)	556.50	(73.8 %)	388.36	(79.4 %)
Q1 2022	1,579.07	32.8 %	156.17	85.5 %	113.24	102.0 %
Q2 2022	1,993.28	53.9 %	246.96	94.0 %	197.29	150.9 %
Q3 2022	2,292.72	73.6 %	383.24	187.9 %	381.50	325.3 %
Q4 2022	2,717.50	75.7 %	684.76	223.1 %	604.24	268.5 %
2022	8,582.58	60.4 %	1,471.13	164.4 %	1,296.27	233.8 %
Q1 2023	2,375.22	50.4 %	615.24	293.9 %	576.61	409.2 %
Q2 2023	2,352.18	18.0 %	580.72	135.1 %	518.71	162.9 %
Q3 2023	2,026.66	(11.6 %)	360.74	(5.9 %)	421.28	10.4 %
Q4 2023	2,023.44	(25.5 %)	516.43	(24.6 %)	418.20	(30.8 %)
2023	8,777.50	2.3 %	2,073.13	40.9 %	1,829.39	41.1 %
Q1 2024	2,313.08	(2.6 %)	663.09	7.8 %	603.10	4.6 %

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2014	3,626.41	27.4 %	674.23	16.3 %	575.35	15.0 %
2015	7,464.02	105.8 %	2,196.52	225.8 %	1,980.03	244.1 %
2016	6,788.48	(9.1 %)	1,892.33	(13.8 %)	1,781.27	(10.0 %)
2017	6,045.84	(10.9 %)	1,320.68	(30.2 %)	1,149.41	(35.5 %)
2018	6,129.91	1.4 %	1,246.98	(5.6 %)	1,077.47	(6.3 %)
2019	6,567.02	7.1 %	1,427.00	14.4 %	1,194.08	10.8 %
2020	8,393.00	27.8 %	2,121.87	48.7 %	1,886.46	58.0 %
2021	5,351.08	(36.2 %)	556.50	(73.8 %)	388.36	(79.4 %)
2022	8,582.58	60.4 %	1,471.13	164.4 %	1,296.27	233.8 %
2023	8,777.50	2.3 %	2,073.13	40.9 %	1,829.39	41.1 %

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
Q1 2015	398.41	104.2 %	0.54	1.53	396.88	0.54
Q2 2015	342.48	162.6 %	0.46	0.75	341.73	0.46
Q3 2015	510.30	501.4 %	0.69	1.42	508.88	0.69
Q4 2015	566.40	358.9 %	0.77	1.41	564.98	0.77
2015	1,817.58	240.5 %	2.46	5.11	1,812.48	2.45
Q1 2016	612.92	53.8 %	0.83	(33.81)	646.74	0.88
Q2 2016	487.10	42.2 %	0.66	-	487.10	0.66
Q3 2016	315.38	(38.2 %)	0.43	150.00	165.38	0.22
Q4 2016	302.47	(46.6 %)	0.41	-	302.47	0.41
2016	1,717.87	(5.5 %)	2.33	116.19	1,601.68	2.17
Q1 2017	378.86	(38.2 %)	0.51	-	378.86	0.51
Q2 2017	153.91	(68.4 %)	0.21	-	153.91	0.21
Q3 2017	60.51	(80.8 %)	0.08	-	60.51	0.08
Q4 2017	207.04	(31.5 %)	0.28	(28.90)	235.94	0.32
2017	800.31	(53.4 %)	1.08	(28.90)	829.22	1.12
Q1 2018	123.14	(67.5 %)	0.17	-	123.14	0.17
Q2 2018	185.41	20.5 %	0.25	-	185.41	0.25
Q3 2018	81.28	34.3 %	0.11	-	81.28	0.11
Q4 2018	91.41	(55.8 %)	0.12	-	91.41	0.12
2018	481.24	(39.9 %)	0.65	-	481.24	0.65
Q1 2019	179.33	45.6 %	0.24	-	179.33	0.24
Q2 2019	45.57	(75.4 %)	0.06	-	45.57	0.06
Q3 2019	146.73	80.5 %	0.20	-	146.73	0.20
Q4 2019	249.08	172.5 %	0.34	-	249.08	0.34
2019	620.70	29.0 %	0.84	-	620.70	0.84
Q1 2020	419.22	133.8 %	0.57	-	419.22	0.57
Q2 2020	760.61	1569.0 %	1.03	-	760.61	1.03
Q3 2020	313.74	113.8 %	0.42	-	313.74	0.42
Q4 2020	77.54	(68.9 %)	0.11	-	77.54	0.11
2020	1,571.11	153.1 %	2.13	-	1,571.11	2.13
Q1 2021	43.56	(89.6 %)	0.06	-	43.56	0.06
Q2 2021	38.91	(94.9 %)	0.05	-	38.91	0.05
Q3 2021	17.99	(94.3 %)	0.02	-	17.99	0.02
Q4 2021	91.98	18.6 %	0.12	-	91.98	0.12
2021	192.43	(87.8 %)	0.26	-	192.43	0.26
Q1 2022	64.90	49.0 %	0.09	-	64.90	0.09
Q2 2022	128.02	229.0 %	0.17	-	128.02	0.17
Q3 2022	269.87	1400.0 %	0.37	5.63	264.24	0.36
Q4 2022	578.12	528.5 %	0.78	154.21	423.92	0.57
2022	1,040.91	440.9 %	1.41	159.84	881.07	1.19
Q1 2023	492.49	658.9 %	0.67	16.76	475.74	0.64
Q2 2023	495.38	287.0 %	0.67	72.65	422.73	0.57
Q3 2023	224.34	(16.9 %)	0.30	98.01	126.33	0.17
Q4 2023	401.23	(30.6 %)	0.54	133.59	267.64	0.36
2023	1,613.43	55.0 %	2.19	321.00	1,292.43	1.75
Q1 2024	452.93	(8.0 %)	0.61	21.65	431.28	0.58

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2014	533.84	(29.0 %)	0.80	5.39	528.45	0.80
2015	1,817.58	240.5 %	2.46	5.11	1,812.48	2.45
2016	1,717.87	(5.5 %)	2.33	116.19	1,601.68	2.17
2017	800.31	(53.4 %)	1.08	(28.90)	829.22	1.12
2018	481.24	(39.9 %)	0.65	-	481.24	0.65
2019	620.70	29.0 %	0.84	-	620.70	0.84
2020	1,571.11	153.1 %	2.13	-	1,571.11	2.13
2021	192.43	(87.8 %)	0.26	-	192.43	0.26
2022	1,040.91	440.9 %	1.41	159.84	881.07	1.19
2023	1,613.43	55.0 %	2.19	321.00	1,292.43	1.75

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2015	20.94 %	33.66 %	16.24 %
Q2 2015	22.46 %	33.83 %	16.99 %
Q3 2015	26.21 %	36.02 %	20.60 %
Q4 2015	29.36 %	37.43 %	24.23 %
2015	29.43 %	37.52 %	24.28 %
Q1 2016	31.92 %	39.81 %	26.45 %
Q2 2016	33.29 %	40.77 %	28.23 %
Q3 2016	30.83 %	39.67 %	25.61 %
Q4 2016	27.88 %	40.49 %	23.59 %
2016	27.88 %	40.49 %	23.59 %
Q1 2017	23.98 %	36.68 %	19.71 %
Q2 2017	21.11 %	34.70 %	15.82 %
Q3 2017	20.74 %	35.49 %	14.37 %
Q4 2017	21.84 %	33.14 %	13.72 %
2017	21.84 %	33.14 %	13.72 %
Q1 2018	20.60 %	32.89 %	10.30 %
Q2 2018	21.40 %	33.93 %	10.67 %
Q3 2018	20.89 %	31.75 %	10.82 %
Q4 2018	20.34 %	32.61 %	7.85 %
2018	20.34 %	32.67 %	7.85 %
Q1 2019	21.47 %	33.09 %	8.43 %
Q2 2019	20.17 %	32.47 %	6.29 %
Q3 2019	21.33 %	33.13 %	7.22 %
Q4 2019	21.73 %	33.85 %	9.45 %
2019	21.73 %	33.91 %	9.45 %
Q1 2020	22.50 %	35.23 %	12.39 %
Q2 2020	25.29 %	35.36 %	17.44 %
Q3 2020	26.13 %	36.65 %	19.23 %
Q4 2020	25.28 %	36.45 %	18.72 %
2020	25.28 %	36.45 %	18.72 %
Q1 2021	21.93 %	34.16 %	15.94 %
Q2 2021	15.38 %	33.25 %	9.00 %
Q3 2021	11.09 %	30.99 %	3.51 %
Q4 2021	10.40 %	29.66 %	3.60 %
2021	10.40 %	29.66 %	3.60 %
Q1 2022	10.95 %	29.32 %	3.72 %
Q2 2022	11.62 %	28.28 %	4.70 %
Q3 2022	13.47 %	28.99 %	7.41 %
Q4 2022	17.14 %	30.63 %	10.27 %
2022	17.14 %	30.63 %	10.27 %
Q1 2023	20.58 %	33.11 %	13.77 %
Q2 2023	23.25 %	35.46 %	16.29 %
Q3 2023	23.67 %	37.03 %	15.30 %
Q4 2023	23.62 %	38.06 %	14.72 %
2023	23.62 %	36.86 %	14.72 %
Q1 2024	24.34 %	39.29 %	14.32 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2014	18.59 %	32.49 %	14.57 %
2015	29.43 %	37.52 %	24.28 %
2016	27.88 %	40.49 %	23.59 %
2017	21.84 %	33.14 %	13.72 %
2018	20.34 %	32.67 %	7.85 %
2019	21.73 %	33.91 %	9.45 %
2020	25.28 %	36.45 %	18.72 %
2021	10.40 %	29.66 %	3.60 %
2022	17.14 %	30.63 %	10.27 %
2023	23.62 %	36.86 %	14.72 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2015	27.72 %	38.40 %	24.16 %
Q2 2015	24.32 %	33.95 %	18.87 %
Q3 2015	31.88 %	39.12 %	26.54 %
Q4 2015	32.67 %	38.13 %	26.77 %
Q1 2016	38.16 %	47.71 %	33.03 %
Q2 2016	30.26 %	38.10 %	26.54 %
Q3 2016	18.30 %	32.68 %	12.04 %
Q4 2016	20.87 %	41.11 %	18.65 %
Q1 2017	24.66 %	34.47 %	19.55 %
Q2 2017	19.23 %	29.57 %	11.07 %
Q3 2017	16.32 %	36.33 %	4.71 %
Q4 2017	25.52 %	31.94 %	16.46 %
Q1 2018	20.85 %	33.96 %	8.45 %
Q2 2018	22.34 %	33.76 %	12.39 %
Q3 2018	14.63 %	27.09 %	5.83 %
Q4 2018	22.72 %	34.86 %	5.13 %
Q1 2019	24.98 %	35.57 %	10.51 %
Q2 2019	16.67 %	31.03 %	3.16 %
Q3 2019	19.99 %	30.28 %	9.90 %
Q4 2019	23.95 %	37.16 %	12.84 %
Q1 2020	26.96 %	39.86 %	20.13 %
Q2 2020	27.25 %	33.85 %	21.53 %
Q3 2020	25.15 %	38.13 %	20.77 %
Q4 2020	17.19 %	36.11 %	6.11 %
Q1 2021	7.08 %	27.96 %	3.66 %
Q2 2021	9.83 %	29.62 %	3.01 %
Q3 2021	10.08 %	30.14 %	1.36 %
Q4 2021	13.70 %	30.58 %	5.95 %
Q1 2022	9.89 %	27.16 %	4.11 %
Q2 2022	12.39 %	26.15 %	6.42 %
Q3 2022	16.72 %	31.66 %	11.52 %
Q4 2022	25.20 %	35.05 %	15.60 %
Q1 2023	25.90 %	38.11 %	20.03 %
Q2 2023	24.69 %	36.95 %	17.97 %
Q3 2023	17.80 %	38.51 %	6.23 %
Q4 2023	25.52 %	38.84 %	13.23 %
Q1 2024	28.67 %	42.75 %	18.65 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2015	738.28	1.00	0.99	11.13
Q2 2015	738.28	1.29	1.28	11.12
Q3 2015	738.28	1.86	1.85	11.81
Q4 2015	738.28	2.46	2.45	12.58
Q1 2016	738.28	2.75	2.79	13.40
Q2 2016	738.28	2.95	2.99	12.75
Q3 2016	738.28	2.68	2.53	13.18
Q4 2016	738.28	2.33	2.17	13.11
Q1 2017	738.28	2.01	1.81	12.29
Q2 2017	738.28	1.56	1.36	12.50
Q3 2017	738.28	1.21	1.21	12.58
Q4 2017	738.28	1.08	1.12	12.86
Q1 2018	738.28	0.74	0.78	13.03
Q2 2018	738.28	0.78	0.82	12.48
Q3 2018	738.28	0.81	0.85	12.59
Q4 2018	738.28	0.65	0.65	12.70
Q1 2019	738.28	0.73	0.73	12.95
Q2 2019	738.28	0.54	0.54	12.21
Q3 2019	738.28	0.63	0.63	12.14
Q4 2019	738.28	0.84	0.84	12.48
Q1 2020	738.28	1.17	1.17	13.05
Q2 2020	738.28	2.13	2.13	13.54
Q3 2020	738.28	2.36	2.36	13.43
Q4 2020	738.28	2.13	2.13	13.53
Q1 2021	738.28	1.62	1.62	13.60
Q2 2021	738.28	0.64	0.64	13.12
Q3 2021	738.28	0.24	0.24	12.61
Q4 2021	738.28	0.26	0.26	12.75
Q1 2022	738.28	0.29	0.29	12.85
Q2 2022	738.28	0.41	0.41	13.07
Q3 2022	738.28	0.75	0.74	13.43
Q4 2022	738.28	1.41	1.19	14.21
Q1 2023	738.28	1.99	1.75	14.88
Q2 2023	738.28	2.49	2.15	15.21
Q3 2023	738.28	2.42	1.96	15.51
Q4 2023	738.28	2.19	1.75	16.04
Q1 2024	738.28	2.13	1.69	16.65

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2014	664.45	0.80	0.80	10.59
2015	738.28	2.46	2.45	12.58
2016	738.28	2.33	2.17	13.11
2017	738.28	1.08	1.12	12.86
2018	738.28	0.65	0.65	12.70
2019	738.28	0.84	0.84	12.48
2020	738.28	2.13	2.13	13.53
2021	738.28	0.26	0.26	12.75
2022	738.28	1.41	1.19	14.21
2023	738.28	2.19	1.75	16.04

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2015	21.79	22.00	1.96
Q2 2015	21.81	21.96	2.52
Q3 2015	11.12	11.18	1.75
Q4 2015	10.08	10.11	1.97
Q1 2016	8.16	8.04	1.68
Q2 2016	6.96	6.87	1.61
Q3 2016	6.04	6.42	1.23
Q4 2016	9.94	10.67	1.77
Q1 2017	9.47	10.53	1.55
Q2 2017	12.79	14.71	1.60
Q3 2017	13.84	13.84	1.33
Q4 2017	15.49	14.95	1.31
Q1 2018	22.68	21.53	1.28
Q2 2018	20.96	19.96	1.31
Q3 2018	22.08	21.06	1.42
Q4 2018	27.34	27.34	1.40
Q1 2019	22.14	22.14	1.24
Q2 2019	26.95	26.95	1.19
Q3 2019	24.93	24.93	1.29
Q4 2019	25.39	25.39	1.71
Q1 2020	16.46	16.46	1.47
Q2 2020	8.55	8.55	1.35
Q3 2020	9.53	9.53	1.67
Q4 2020	10.17	10.17	1.60
Q1 2021	12.87	12.87	1.53
Q2 2021	32.51	32.51	1.59
Q3 2021	84.87	84.87	1.62
Q4 2021	66.43	66.43	1.36
Q1 2022	65.78	65.78	1.48
Q2 2022	32.31	32.31	1.01
Q3 2022	24.31	24.56	1.36
Q4 2022	13.95	16.48	1.38
Q1 2023	10.89	12.38	1.46
Q2 2023	9.01	10.42	1.47
Q3 2023	9.78	12.09	1.53
Q4 2023	10.09	12.60	1.38
Q1 2024	12.48	15.74	1.60

Period	P/E	Adjusted P/E	Price/book
2014	25.07	25.33	1.71
2015	10.08	10.11	1.97
2016	9.94	10.67	1.77
2017	15.49	14.95	1.31
2018	27.34	27.34	1.40
2019	25.39	25.39	1.71
2020	10.17	10.17	1.60
2021	66.43	66.43	1.36
2022	13.95	16.48	1.38
2023	10.09	12.60	1.38

Business Segments (Million)

Compared With The

Period	Oil transport	Petrochemical transport	Logistics	Transport of bulk cargo	Other	Eliminations
Q1 2015	1,275.03	201.34	138.06	28.03	-	-
Q2 2015	1,413.36	193.19	175.87	28.28	-	-
Q3 2015	1,406.83	198.58	284.07	28.16	-	-
Q4 2015	1,636.53	181.50	245.11	30.09	-	-
Q1 2016	1,540.94	161.52	208.09	47.18	-	-
Q2 2016	1,370.17	194.70	215.25	55.14	-	-
Q3 2016	911.03	222.40	164.63	76.07	-	-
Q4 2016	975.57	195.53	343.81	92.77	-	-
Q1 2017	1,365.55	200.18	272.26	99.85	-	-
Q2 2017	800.48	193.65	285.22	111.49	-	-
Q3 2017	750.95	195.73	261.68	75.27	-	-
Q4 2017	809.27	215.71	318.80	75.70	-	-
Q1 2018	812.32	213.37	316.20	100.35	15.09	-
Q2 2018	906.92	226.02	245.65	104.13	14.25	-
Q3 2018	897.27	210.00	224.45	76.91	(14.70)	-
Q4 2018	1,076.04	222.80	371.73	106.00	5.14	-
Q1 2019	1,041.44	275.80	237.60	146.96	3.97	-
Q2 2019	807.92	258.81	264.17	103.89	5.49	-
Q3 2019	806.07	278.69	300.25	90.92	5.63	-
Q4 2019	1,303.77	291.85	267.25	78.29	(1.75)	-
Q1 2020	1,552.33	324.82	171.91	30.71	2.40	-
Q2 2020	2,849.21	345.19	316.76	29.18	(7.91)	-
Q3 2020	924.64	304.04	243.63	33.15	4.84	-
Q4 2020	764.74	267.89	186.55	44.33	4.58	-
Q1 2021	687.16	277.24	169.84	52.43	2.53	-
Q2 2021	747.62	259.41	226.75	57.87	3.11	-
Q3 2021	754.32	304.29	190.25	67.62	4.10	-
Q4 2021	913.36	333.82	221.89	75.57	1.83	-
Q1 2022	906.10	341.90	263.60	65.11	2.37	-
Q2 2022	1,135.45	455.11	319.27	80.60	2.86	-
Q3 2022	1,400.52	583.54	229.79	75.99	2.89	-
Q4 2022	1,677.15	677.55	286.51	74.69	1.61	-
Q1 2023	1,354.75	718.98	225.41	71.41	4.68	-
Q2 2023	1,390.13	663.74	225.81	70.03	2.48	-
Q3 2023	1,111.57	621.02	220.17	71.10	2.81	-
Q4 2023	939.37	719.46	291.93	68.38	4.30	-
Q1 2024	1,234.24	800.55	192.88	83.30	2.11	-

Period	Oil transport	Petrochemical transport	Logistics	Transport of bulk cargo	Other	Eliminations
2014	2,152.26	802.92	550.39	120.84	-	-
2015	5,731.74	774.61	843.11	114.56	-	-
2016	4,797.71	774.15	931.77	271.16	-	(85.05)
2017	3,726.24	805.27	1,137.96	362.30	14.07	-
2018	3,692.55	872.17	1,158.02	387.39	19.78	-
2019	3,959.20	1,105.14	1,069.27	420.05	13.35	-
2020	6,090.91	1,241.95	918.85	137.37	3.92	-
2021	3,102.46	1,174.76	808.81	253.49	11.56	-
2022	5,119.22	2,058.10	1,099.16	296.39	9.72	-
2023	4,795.82	2,723.20	963.30	280.91	14.27	-

Financial Ratios

	Current
Market Cap (M Riyal)	21,040.98
Enterprise Value (EV) (M)	27,536.22
Shares Outstanding ((M))	738.28
EPS ( Riyal) (TTM)	2.84
Book Value (BV) ( Riyal)	17.77
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	11.84
P/E (TTM)	10.04
Price/book	1.60
Return on Average Assets (%) (TTM)	8.6
Return on Average Equity (%) (TTM)	17.1

National Shipping Company of Saudi Arabia (BAHRI)

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Bahri Q1 2024 profit falls 8% to SAR 452.9M

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Bahri Q1 2024 profit falls 8% to SAR 452.9M

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Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million) Q1 2024

Revenue by Business Segment (Latest) 2024 Q1

Financial Ratios

Share Price

National Shipping Company of Saudi Arabia (BAHRI)

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Business Segments (Million)