Astra earns SAR 475.3M in 2023; Q4 at SAR 134.3M

Astra earns SAR 475.3M in 2023; Q4 at SAR 134.3M

28/02/2024 Argaam Exclusive

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Astra Industrial Group reported a net profit of SAR 475.3 million for 2023, compared to SAR 474.3 million a year earlier.



Financials (M)

Item 2022 2023 Change‬
Revenues 2,594.15 2,858.50 10.2 %
Gross Income 1,040.05 1,186.81 14.1 %
Operating Income 420.85 531.27 26.2 %
Net Income 474.32 475.33 0.2 %
Average Shares 80.00 80.00 -
EPS (Riyals) 5.93 5.94 0.2 %

This was propelled by higher sales and gross profit in pharmaceuticals and steel industries segments, decreased net financing cost, and lower general and administrative expenses.



Current Quarter Comparison (M)

Compared With The
Item Q4 2022 Q4 2023 Change‬
Revenues 729.02 789.70 8.3 %
Gross Income 320.47 335.77 4.8 %
Operating Income 157.63 154.18 (2.2 %)
Net Income 85.66 134.28 56.8 %
Average Shares 80.00 80.00 -
EPS (Riyals) 1.07 1.68 56.8 %

Q4 2023 reached SAR 134.3 million, an increase of 56.8% year-on-year (YoY).

 

On a sequential basis, net earnings rose 29.8% from SAR 103.42 million in Q3 2023.

 

Shareholders’ equity, after minority interest, reached SAR 2.12 billion by Dec. 31, 2023, compared to SAR 1.84 billion a year earlier.

View More Financial Results

 


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
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 %
Q3 2021 611.99 41.1 % 243.18 35.6 % 71.85 143.1 %
Q4 2021 590.58 (10.9 %) 187.97 (24.9 %) 66.22 (13.5 %)
Q1 2022 634.52 6.7 % 273.88 6.1 % 95.31 (18.7 %)
Q2 2022 608.54 14.2 % 225.76 9.9 % 91.40 28.7 %
Q3 2022 622.07 1.6 % 219.94 (9.6 %) 76.51 6.5 %
Q4 2022 729.02 23.4 % 320.47 70.5 % 157.63 138.1 %
Q1 2023 748.28 17.9 % 311.97 13.9 % 138.78 45.6 %
Q2 2023 659.59 8.4 % 277.70 23.0 % 125.25 37.0 %
Q3 2023 643.21 3.4 % 259.20 17.8 % 114.03 49.0 %
Q4 2023 789.70 8.3 % 335.77 4.8 % 154.18 (2.2 %)
2023 2,858.50 10.2 % 1,186.81 14.1 % 531.27 26.2 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
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
Q3 2021 45.37 136.3 % 0.57 - 45.37 0.57
Q4 2021 51.79 36.6 % 0.65 - 51.79 0.65
Q1 2022 74.69 47.6 % 0.93 - 74.69 0.93
Q2 2022 243.10 345.2 % 3.04 172.80 70.30 0.88
Q3 2022 70.87 56.2 % 0.89 - 70.87 0.89
Q4 2022 85.66 65.4 % 1.07 (25.21) 110.87 1.39
Q1 2023 122.88 64.5 % 1.54 - 122.88 1.54
Q2 2023 114.74 (52.8 %) 1.43 - 114.74 1.43
Q3 2023 103.42 45.9 % 1.29 - 103.42 1.29
Q4 2023 134.28 56.8 % 1.68 - 134.28 1.68
2023 475.33 0.2 % 5.94 - 475.33 5.94

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
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 %
Q3 2021 39.83 % 17.76 % 7.85 %
Q4 2021 38.39 % 18.04 % 8.68 %
Q1 2022 38.41 % 16.67 % 9.55 %
Q2 2022 38.06 % 16.85 % 9.90 %
Q3 2022 36.96 % 16.82 % 10.90 %
Q4 2022 40.09 % 19.27 % 12.59 %
Q1 2023 39.81 % 20.11 % 13.85 %
Q2 2023 40.96 % 21.02 % 15.20 %
Q3 2023 42.06 % 22.23 % 16.26 %
Q4 2023 41.70 % 21.92 % 16.73 %
2023 41.52 % 21.75 % 16.63 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
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
Q3 2021 80.00 2.36 2.36 17.44
Q4 2021 80.00 2.53 2.53 18.15
Q1 2022 80.00 2.83 2.83 19.08
Q2 2022 80.00 5.19 3.03 20.56
Q3 2022 80.00 5.51 3.35 21.44
Q4 2022 80.00 5.93 4.08 23.12
Q1 2023 80.00 6.53 4.69 24.75
Q2 2023 80.00 4.93 5.24 23.54
Q3 2023 80.00 5.33 5.65 24.89
Q4 2023 80.00 5.94 5.94 26.60

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
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
Q3 2021 17.82 17.82 2.41
Q4 2021 15.73 15.73 2.19
Q1 2022 16.48 16.48 2.45
Q2 2022 8.97 15.38 2.26
Q3 2022 9.34 15.36 2.40
Q4 2022 8.72 12.66 2.24
Q1 2023 9.72 13.55 2.57
Q2 2023 17.68 16.62 3.70
Q3 2023 16.50 15.58 3.54
Q4 2023 22.42 22.42 5.01

Business Segments (Million)

Compared With The
Period Pharmaceuticals Specialty chemicals Energy and steel industries Other
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
Q3 2021 262.72 221.80 117.50 9.97
Q4 2021 239.98 251.89 88.06 10.64
Q1 2022 288.07 279.35 59.55 7.55
Q2 2022 255.02 277.93 66.64 8.96
Q3 2022 260.87 241.06 111.13 9.00
Q4 2022 322.37 269.25 128.98 8.42
Q1 2023 361.31 294.44 84.32 8.20
Q2 2023 311.87 258.15 89.57 -
Q3 2023 298.50 233.87 110.84 -
Q4 2023 331.30 270.66 174.76 12.98

Analysts Estimates (Million)

Item Q4 2023 (e) Q4 2023 (a) Change‬
Average 89.33 134.28 50.32 %

Estimates vs Actual (Million)

Item Q4 2023 (e) Q4 2023 (a) Change
GIB Capital 93.00 134.28 44.4 %
United Securities Company 89.00 134.28 50.9 %
Al Rajhi Capital 86.00 134.28 56.1 %


Financial Ratios
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
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Share Price

Astra Industrial Group
176.00
1.00 0.57 %

Astra Industrial Group (ASTRA INDUSTRIAL)

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