Astra makes SAR 237.6 mln profit in H1 2023; Q2 at SAR 114.7 mln

Astra makes SAR 237.6 mln profit in H1 2023; Q2 at SAR 114.7 mln

03/08/2023 Argaam Exclusive

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Astra Industrial Group reported a net profit of SAR 237.6 million in H1 2023, a decline of SAR 25.2% from SAR 317.8 million in the year-earlier period, as H1 2022 included gains from discontinued operations.  



Financials (M)

Item 6m 2022 6m 2023 Change‬
Revenues 1,243.06 1,415.30 13.9 %
Gross Income 499.64 589.95 18.1 %
Operating Income 186.71 262.70 40.7 %
Net Income 317.79 237.63 (25.2 %)
Average Shares 80.00 80.00 -
EPS (Riyals) 3.97 2.97 (25.2 %)

Q2 2023 net profit dropped 52.8% year-on-year (YoY) to SAR 114.7 million, as Q2 2022 included gains from discontinued operations and some of the company segments reported higher general and administrative expenses (G&As).



Current Quarter Comparison (M)

Compared With The
Item Q2 2022 Q2 2023 Change‬
Revenues 608.54 667.02 9.6 %
Gross Income 225.76 277.97 23.1 %
Operating Income 91.40 123.91 35.6 %
Net Income 243.10 114.74 (52.8 %)
Average Shares 80.00 80.00 -
EPS (Riyals) 3.04 1.43 (52.8 %)

On a sequential basis, net earnings fell 6.6% from SAR 122.88 million.

 

Shareholders’ equity, no minority equity, reached SAR 1.88 billion as of June 30, 2023, compared to SAR 1.64 billion prior year.

 

View More Financial Results

 

 


Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Riyal)
Q1 2014 498.90 9.8 % 184.96 6.1 % 63.06 (7.7 %) 0.79
Q2 2014 453.23 1.3 % 136.47 (23.6 %) 3.07 (95.0 %) 0.04
Q3 2014 439.81 22.1 % 125.94 (20.2 %) 17.91 (64.7 %) 0.22
Q4 2014 491.79 (3.5 %) 158.77 (6.5 %) 25.72 (64.5 %) 0.32
Q1 2015 489.36 (1.9 %) 181.61 (1.8 %) 42.11 (33.2 %) 0.53
Q2 2015 461.99 1.9 % 162.98 19.4 % 20.10 554.8 % 0.25
Q3 2015 381.83 (13.2 %) 130.00 3.2 % 9.46 (47.2 %) 0.12
Q4 2015 422.92 (14.0 %) 107.80 (32.1 %) (65.19) (353.4 %) (0.81)
Q1 2016 503.31 2.9 % 224.54 23.6 % 12.80 (69.6 %) 0.16
Q2 2016 444.56 (3.8 %) 190.17 16.7 % (10.60) (152.8 %) (0.13)
Q3 2016 389.16 1.9 % 180.23 38.6 % (25.34) (367.9 %) (0.32)
Q4 2016 404.48 (4.4 %) 185.42 72.0 % (70.80) (8.6 %) (0.88)
Q1 2017 512.43 1.8 % 220.92 (1.6 %) 19.74 54.3 % 0.25
Q2 2017 428.52 (3.6 %) 198.92 4.6 % 7.00 166.0 % 0.09
Q3 2017 398.37 2.4 % 171.28 (5.0 %) 2.58 110.2 % 0.03
Q4 2017 456.35 12.8 % 165.46 (10.8 %) 28.88 140.8 % 0.36
Q1 2018 476.82 (6.9 %) 191.50 (13.3 %) 25.53 29.3 % 0.32
Q2 2018 436.40 1.8 % 184.86 (7.1 %) 16.08 129.8 % 0.20
Q3 2018 405.35 1.8 % 149.35 (12.8 %) (26.87) (1141.9 %) (0.34)
Q4 2018 478.34 4.8 % 186.25 12.6 % 7.73 (73.2 %) 0.10
Q1 2019 470.18 (1.4 %) 187.63 (2.0 %) 8.91 (65.1 %) 0.11
Q2 2019 493.41 13.1 % 209.98 13.6 % 15.78 (1.9 %) 0.20
Q3 2019 447.16 10.3 % 161.80 8.3 % (14.63) 45.6 % (0.18)
Q4 2019 456.36 (4.6 %) 178.94 (3.9 %) 19.64 153.9 % 0.25
Q1 2020 509.51 8.4 % 207.17 10.4 % 34.09 282.8 % 0.43
Q2 2020 441.51 (10.5 %) 165.76 (21.1 %) 24.22 53.5 % 0.30
Q3 2020 433.83 (3.0 %) 179.38 10.9 % 19.20 231.3 % 0.24
Q4 2020 663.02 45.3 % 250.32 39.9 % 37.92 93.1 % 0.47
Q1 2021 594.55 16.7 % 258.01 24.5 % 50.61 48.4 % 0.63
Q2 2021 533.09 20.7 % 205.37 23.9 % 54.60 125.4 % 0.68
Q3 2021 611.99 41.1 % 243.18 35.6 % 45.37 136.3 % 0.57
Q4 2021 590.58 (10.9 %) 187.97 (24.9 %) 51.79 36.6 % 0.65
Q1 2022 634.52 6.7 % 273.88 6.1 % 74.69 47.6 % 0.93
Q2 2022 608.54 14.2 % 225.76 9.9 % 243.10 345.2 % 3.04
Q3 2022 622.07 1.6 % 219.94 (9.6 %) 70.87 56.2 % 0.89
Q4 2022 729.02 23.4 % 320.47 70.5 % 85.66 65.4 % 1.07
Q1 2023 748.28 17.9 % 311.97 13.9 % 122.88 64.5 % 1.54
Q2 2023 667.02 9.6 % 277.97 23.1 % 114.74 (52.8 %) 1.43

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 40.86 % 20.91 % 15.16 %


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

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

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 7.43

Analysts Estimates (Million)

Item Q2 2023 (e) Q2 2023 (a) Change‬
Average 69.00 114.74 66.30 %

Estimates vs Actual (Million)

Item Q2 2023 (e) Q2 2023 (a) Change
Al Rajhi Capital 69.00 114.74 66.3 %

Current
Market Cap (M Riyal) 13,008.00
Enterprise Value (EV) (M) 12,268.13
Shares Outstanding ((M)) 80.00
EPS ( Riyal) (TTM) 6.28
Book Value (BV) ( Riyal) 28.53
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 25.90
P/E (TTM) 25.90
Price/book 5.70
Return on Average Assets (%) (TTM) 12.4
Return on Average Equity (%) (TTM) 23.6

Share Price

163.00
1.00 0.62 %

Astra Industrial Group (ASTRA INDUSTRIAL)


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