Astra Industrial H1 2021 profit up 80% to SAR 105.2 mln

Astra Industrial H1 2021 profit up 80% to SAR 105.2 mln

09/08/2021 Argaam Exclusive

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Astra Industrial Group reported a net profit after Zakat and tax of SAR 105.2 million in the first half of 2021, an 80% increase, compared to SAR 58.3 million in the same period last year.



Financials (M)

Item 6m 2020 6m 2021 Change‬
Revenues 951.02 1,127.63 18.6 %
Gross Income 372.93 463.38 24.3 %
Operating Income 106.32 188.23 77.0 %
Net Income 58.32 105.21 80.4 %
Average Shares 80.00 80.00 -
EPS (Riyals) 0.73 1.32 80.4 %

The earnings increase was driven by higher sales in all segments, along with lower selling and distribution expenses in the pharmaceuticals, and power and steel segments. 

  

Additionally, other expenses increased in the pharmaceuticals business and provision for impairment of financial assets expenses for specialty chemicals segment. 



Current Quarter Comparison (M)

Compared With The
Item Q2 2020 Q2 2021 Change‬
Revenues 441.51 533.09 20.7 %
Gross Income 165.76 205.37 23.9 %
Operating Income 43.27 71.02 64.1 %
Net Income 24.22 54.60 125.4 %
Average Shares 80.00 80.00 -
EPS (Riyals) 0.30 0.68 125.4 %

The company reported a net profit after Zakat and tax of SAR 54.6 million in Q2 2021, rising more than twofold year-on-year (YoY). This was backed by higher sales in all segments and rise in other income from pharmaceuticals, power and steel, and specialty chemicals segments. 

  

On a quarterly basis, Q2 earnings rose 7.8% on a decline in other expenses in pharmaceuticals, power and steel, and specialty chemicals segments. 



Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2012 391.50 9.7 % 155.53 10.1 % 53.40 4.8 %
Q2 2012 376.88 1.0 % 155.50 6.5 % 50.92 1.3 %
Q3 2012 317.94 (4.9 %) 152.83 9.5 % 35.58 (15.4 %)
Q4 2012 410.00 20.3 % 154.06 11.6 % 45.31 (7.7 %)
Q1 2013 454.19 16.0 % 174.40 12.1 % 54.02 1.2 %
Q2 2013 447.54 18.7 % 178.71 14.9 % 50.08 (1.7 %)
Q3 2013 360.22 13.3 % 157.84 3.3 % 36.56 2.8 %
Q4 2013 509.48 24.3 % 169.90 10.3 % 36.38 (19.7 %)
Q1 2014 498.90 9.8 % 184.96 6.1 % 48.34 (10.5 %)
Q2 2014 453.23 1.3 % 136.47 (23.6 %) (5.14) (110.3 %)
Q3 2014 439.81 22.1 % 125.94 (20.2 %) 5.15 (85.9 %)
Q4 2014 491.79 (3.5 %) 158.77 (6.5 %) 20.56 (43.5 %)
Q1 2015 489.36 (1.9 %) 181.61 (1.8 %) 42.43 (12.2 %)
Q2 2015 461.99 1.9 % 162.98 19.4 % 5.50 206.9 %
Q3 2015 381.83 (13.2 %) 130.00 3.2 % 1.92 (62.8 %)
Q4 2015 422.92 (14.0 %) 107.80 (32.1 %) (49.86) (342.5 %)
Q1 2016 503.31 2.9 % 224.54 23.6 % 58.48 37.8 %
Q2 2016 444.56 (3.8 %) 190.17 16.7 % 31.13 466.5 %
Q3 2016 389.16 1.9 % 180.23 38.6 % 39.60 1965.6 %
Q4 2016 404.48 (4.4 %) 185.42 72.0 % 20.77 141.7 %
Q1 2017 512.43 1.8 % 220.92 (1.6 %) 52.98 (9.4 %)
Q2 2017 428.52 (3.6 %) 198.92 4.6 % 23.25 (25.3 %)
Q3 2017 398.37 2.4 % 171.28 (5.0 %) 22.22 (43.9 %)
Q4 2017 456.35 12.8 % 165.46 (10.8 %) 27.75 33.6 %
Q1 2018 476.82 (6.9 %) 191.50 (13.3 %) 44.36 (16.3 %)
Q2 2018 436.40 1.8 % 184.86 (7.1 %) 31.56 35.7 %
Q3 2018 405.35 1.8 % 149.35 (12.8 %) 4.00 (82.0 %)
Q4 2018 478.34 4.8 % 186.25 12.6 % 55.81 101.1 %
Q1 2019 470.18 (1.4 %) 187.63 (2.0 %) 53.82 21.3 %
Q2 2019 493.41 13.1 % 209.98 13.6 % 64.99 105.9 %
Q3 2019 447.16 10.3 % 161.80 8.3 % 29.27 631.5 %
Q4 2019 456.36 (4.6 %) 178.94 (3.9 %) 48.09 (13.8 %)
Q1 2020 509.51 8.4 % 207.17 10.4 % 63.05 17.1 %
Q2 2020 441.51 (10.5 %) 165.76 (21.1 %) 43.27 (33.4 %)
Q3 2020 433.83 (3.0 %) 179.38 10.9 % 29.56 1.0 %
Q4 2020 663.02 45.3 % 250.32 39.9 % 76.56 59.2 %
Q1 2021 594.55 16.7 % 258.01 24.5 % 117.21 85.9 %
Q2 2021 533.09 20.7 % 205.37 23.9 % 71.02 64.1 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2012 64.08 3.3 % 0.80 - 64.08 0.80
Q2 2012 68.50 1.8 % 0.86 - 68.50 0.86
Q3 2012 46.66 (20.2 %) 0.58 - 46.66 0.58
Q4 2012 63.43 (0.5 %) 0.79 - 63.43 0.79
Q1 2013 68.32 6.6 % 0.85 - 68.32 0.85
Q2 2013 61.72 (9.9 %) 0.77 - 61.72 0.77
Q3 2013 50.69 8.7 % 0.63 - 50.69 0.63
Q4 2013 72.41 14.1 % 0.91 - 72.41 0.91
Q1 2014 63.06 (7.7 %) 0.79 - 63.06 0.79
Q2 2014 3.07 (95.0 %) 0.04 - 3.07 0.04
Q3 2014 17.91 (64.7 %) 0.22 - 17.91 0.22
Q4 2014 25.72 (64.5 %) 0.32 - 25.72 0.32
Q1 2015 42.11 (33.2 %) 0.53 - 42.11 0.53
Q2 2015 20.10 554.8 % 0.25 - 20.10 0.25
Q3 2015 9.46 (47.2 %) 0.12 - 9.46 0.12
Q4 2015 (65.19) (353.4 %) (0.81) - (65.19) (0.81)
Q1 2016 12.80 (69.6 %) 0.16 - 12.80 0.16
Q2 2016 (10.60) (152.8 %) (0.13) - (10.60) (0.13)
Q3 2016 (25.34) (367.9 %) (0.32) - (25.34) (0.32)
Q4 2016 (70.80) (8.6 %) (0.88) - (70.80) (0.88)
Q1 2017 19.74 54.3 % 0.25 11.62 8.12 0.10
Q2 2017 7.00 166.0 % 0.09 10.13 (3.13) (0.04)
Q3 2017 2.58 110.2 % 0.03 12.35 (9.77) (0.12)
Q4 2017 28.88 140.8 % 0.36 - 28.88 0.36
Q1 2018 25.53 29.3 % 0.32 - 25.53 0.32
Q2 2018 16.08 129.8 % 0.20 - 16.08 0.20
Q3 2018 (26.87) (1141.9 %) (0.34) - (26.87) (0.34)
Q4 2018 7.73 (73.2 %) 0.10 - 7.73 0.10
Q1 2019 8.91 (65.1 %) 0.11 - 8.91 0.11
Q2 2019 15.78 (1.9 %) 0.20 - 15.78 0.20
Q3 2019 (14.63) 45.6 % (0.18) - (14.63) (0.18)
Q4 2019 19.64 153.9 % 0.25 (60.61) 80.24 1.00
Q1 2020 34.09 282.8 % 0.43 - 34.09 0.43
Q2 2020 24.22 53.5 % 0.30 - 24.22 0.30
Q3 2020 19.20 231.3 % 0.24 - 19.20 0.24
Q4 2020 37.92 93.1 % 0.47 - 37.92 0.47
Q1 2021 50.61 48.4 % 0.63 - 50.61 0.63
Q2 2021 54.60 125.4 % 0.68 - 54.60 0.68

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2012 40.23 % 15.71 % 17.61 %
Q2 2012 40.78 % 15.91 % 17.65 %
Q3 2012 42.18 % 15.95 % 17.03 %
Q4 2012 41.30 % 15.09 % 16.22 %
Q1 2013 40.85 % 14.76 % 15.84 %
Q2 2013 40.50 % 13.92 % 14.74 %
Q3 2013 39.77 % 13.56 % 14.60 %
Q4 2013 38.44 % 13.31 % 14.29 %
Q1 2014 38.07 % 13.64 % 13.65 %
Q2 2014 35.63 % 11.75 % 10.39 %
Q3 2014 32.46 % 10.54 % 8.23 %
Q4 2014 32.18 % 9.87 % 5.83 %
Q1 2015 32.16 % 9.69 % 4.74 %
Q2 2015 33.42 % 10.59 % 5.62 %
Q3 2015 34.71 % 10.53 % 5.34 %
Q4 2015 33.16 % 7.75 % 0.37 %
Q1 2016 35.33 % 7.68 % (1.29 %)
Q2 2016 37.23 % 7.90 % (3.05 %)
Q3 2016 39.93 % 9.51 % (5.02 %)
Q4 2016 44.81 % 12.07 % (5.39 %)
Q1 2017 44.37 % 11.60 % (5.63 %)
Q2 2017 45.28 % 11.49 % (5.26 %)
Q3 2017 44.53 % 10.40 % (4.33 %)
Q4 2017 42.13 % 10.71 % 1.34 %
Q1 2018 41.31 % 10.61 % 2.36 %
Q2 2018 40.33 % 11.14 % 3.43 %
Q3 2018 38.94 % 10.18 % 2.46 %
Q4 2018 39.62 % 11.54 % 1.25 %
Q1 2019 39.55 % 12.17 % 0.33 %
Q2 2019 39.69 % 13.73 % 0.30 %
Q3 2019 39.47 % 14.92 % 0.94 %
Q4 2019 39.55 % 14.92 % 4.84 %
Q1 2020 39.75 % 15.29 % 6.06 %
Q2 2020 38.48 % 14.62 % 6.68 %
Q3 2020 39.72 % 14.86 % 8.57 %
Q4 2020 39.19 % 14.75 % 5.64 %
Q1 2021 40.01 % 16.62 % 6.19 %
Q2 2021 40.15 % 17.24 % 7.30 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2012 80.00 3.17 3.17 23.18
Q2 2012 80.00 3.19 3.19 22.27
Q3 2012 80.00 3.04 3.04 22.63
Q4 2012 80.00 3.03 3.03 23.03
Q1 2013 80.00 3.09 3.09 23.94
Q2 2013 80.00 3.00 3.00 22.92
Q3 2013 80.00 3.05 3.05 23.18
Q4 2013 80.00 3.16 3.16 23.68
Q1 2014 80.00 3.10 3.10 24.43
Q2 2014 80.00 2.37 2.37 22.82
Q3 2014 80.00 1.96 1.96 22.99
Q4 2014 80.00 1.37 1.37 23.08
Q1 2015 80.00 1.11 1.11 23.53
Q2 2015 80.00 1.32 1.32 22.71
Q3 2015 80.00 1.22 1.22 22.19
Q4 2015 80.00 0.08 0.08 21.46
Q1 2016 80.00 (0.29) (0.29) 21.65
Q2 2016 80.00 (0.67) (0.67) 21.78
Q3 2016 80.00 (1.10) (1.10) 21.78
Q4 2016 80.00 (1.17) (1.17) 15.43
Q1 2017 80.00 (1.09) (1.23) 15.62
Q2 2017 80.00 (0.87) (1.14) 15.28
Q3 2017 80.00 (0.52) (0.94) 15.21
Q4 2017 80.00 0.73 0.30 15.40
Q1 2018 80.00 0.80 0.52 14.11
Q2 2018 80.00 0.91 0.76 13.80
Q3 2018 80.00 0.55 0.55 13.40
Q4 2018 80.00 0.28 0.28 13.23
Q1 2019 80.00 0.07 0.07 13.38
Q2 2019 80.00 0.07 0.07 13.63
Q3 2019 80.00 0.22 0.22 13.40
Q4 2019 80.00 0.37 1.13 15.19
Q1 2020 80.00 0.69 1.44 15.49
Q2 2020 80.00 0.79 1.55 15.72
Q3 2020 80.00 1.21 1.97 15.98
Q4 2020 80.00 1.44 1.44 16.57
Q1 2021 80.00 1.65 1.65 17.05
Q2 2021 80.00 2.03 2.03 16.90

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2012 12.71 12.71 1.74
Q2 2012 11.74 11.74 1.68
Q3 2012 12.04 12.04 1.62
Q4 2012 11.90 11.90 1.57
Q1 2013 12.18 12.18 1.57
Q2 2013 13.79 13.79 1.81
Q3 2013 13.83 13.83 1.82
Q4 2013 15.51 15.51 2.07
Q1 2014 18.15 18.15 2.30
Q2 2014 21.57 21.57 2.24
Q3 2014 24.30 24.30 2.07
Q4 2014 21.27 21.27 1.26
Q1 2015 26.98 26.98 1.27
Q2 2015 24.44 24.44 1.42
Q3 2015 19.14 19.14 1.05
Q4 2015 More than 100 More than 100 0.92
Q1 2016 NEG NEG 0.69
Q2 2016 NEG NEG 0.75
Q3 2016 NEG NEG 0.62
Q4 2016 NEG NEG 1.11
Q1 2017 NEG NEG 1.06
Q2 2017 NEG NEG 1.01
Q3 2017 NEG NEG 1.10
Q4 2017 21.95 53.03 1.04
Q1 2018 20.87 32.17 1.18
Q2 2018 21.02 25.30 1.39
Q3 2018 31.58 31.58 1.29
Q4 2018 58.37 58.37 1.24
Q1 2019 More than 100 More than 100 1.20
Q2 2019 More than 100 More than 100 1.12
Q3 2019 69.34 69.34 1.15
Q4 2019 41.44 13.63 1.01
Q1 2020 20.99 9.98 0.93
Q2 2020 23.80 12.16 1.20
Q3 2020 19.93 12.27 1.51
Q4 2020 17.81 17.81 1.55
Q1 2021 17.61 17.61 1.70
Q2 2021 24.32 24.32 2.92

Business Segments (Million)

Compared With The
Period Pharmaceuticals Specialty chemicals Energy and steel industries Other
Q1 2012 172.74 135.63 83.14 -
Q2 2012 151.94 138.05 86.89 -
Q3 2012 160.61 122.47 34.86 -
Q4 2012 170.66 150.68 88.66 -
Q1 2013 214.39 165.59 74.22 -
Q2 2013 205.41 157.70 84.42 -
Q3 2013 189.95 114.84 55.43 -
Q4 2013 258.27 115.01 136.20 -
Q1 2014 243.34 161.19 94.37 -
Q2 2014 207.26 144.23 101.73 -
Q3 2014 207.18 127.15 105.48 -
Q4 2014 268.21 154.23 104.43 -
Q1 2015 204.31 178.44 106.61 -
Q2 2015 248.39 143.08 70.51 -
Q3 2015 186.53 134.45 60.85 -
Q4 2015 196.59 136.58 93.75 -
Q1 2016 254.25 182.79 66.27 -
Q2 2016 214.90 166.52 63.14 -
Q3 2016 204.22 119.43 65.51 -
Q4 2016 220.50 131.57 52.41 -
Q1 2017 224.63 202.84 84.97 -
Q2 2017 198.23 142.49 86.79 1.00
Q3 2017 184.52 136.02 74.55 3.28
Q4 2017 214.07 168.68 68.61 4.99
Q1 2018 225.54 183.10 62.31 5.87
Q2 2018 210.02 167.66 52.84 5.87
Q3 2018 191.43 164.03 43.31 6.58
Q4 2018 243.10 189.82 38.81 6.60
Q1 2019 238.47 173.84 49.47 8.41
Q2 2019 249.12 191.70 44.32 8.27
Q3 2019 217.10 161.65 61.32 7.09
Q4 2019 218.28 165.93 63.07 9.08
Q1 2020 263.21 204.69 33.06 8.55
Q2 2020 213.49 205.61 16.04 6.37
Q3 2020 200.76 191.48 33.01 8.58
Q4 2020 386.24 199.77 68.88 8.13
Q1 2021 257.42 269.74 59.74 7.64
Q2 2021 229.64 232.73 61.88 8.84

Current
Market Cap (M Riyal) 14,080.00
Enterprise Value (EV) (M) 13,896.67
Shares Outstanding ((M)) 80.00
EPS ( Riyal) (TTM) 7.40
Book Value (BV) ( Riyal) 29.86
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 25.92
P/E (TTM) 23.78
Price/book 5.89
Return on Average Assets (%) (TTM) 13.1
Return on Average Equity (%) (TTM) 27.0

Share Price

176.00
1.00 0.57 %

Astra Industrial Group (ASTRA INDUSTRIAL)


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