Elm net profit up 48% to SAR 250 mln in Q1 2022

Elm net profit up 48% to SAR 250 mln in Q1 2022

24/04/2022 Argaam Exclusive

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Elm Co. reported a net profit after Zakat and tax of SAR 250 million for the first quarter of 2022, a 48% increase from SAR 169 million in the same period last year.

 

The increase in net profit is attributed to higher revenue resulting from the increase in digital business, outsourcing and professional services.



Current Quarter Comparison (M)

Compared With The
Item Q1 2021 Q1 2022 Change‬
Revenues 773.63 1,092.01 41.2 %
Gross Income 275.46 439.54 59.6 %
Operating Income 168.53 269.81 60.1 %
Net Income 168.87 249.64 47.8 %
Average Shares 80.00 80.00 -
EPS (Riyals) 2.11 3.12 47.8 %

The increase in net profit is attributed to higher revenue resulting from the increase in digital business, outsourcing and professional services.

 

Sequentially, net profit more than doubled from a profit of SAR 110 million in Q4 2021.

Total shareholders’ equity excluding minority interest rose 14.5% to SAR 2.752 billion as of March 31, 2022, from SAR 2.403 million a year before.

 

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Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2013 - - - - - -
Q2 2013 - - - - - -
Q3 2013 - - - - - -
Q4 2013 - - - - - -
Q1 2014 - - - - - -
Q2 2014 - - - - - -
Q3 2014 - - - - - -
Q4 2014 - - - - - -
Q1 2015 - - - - - -
Q2 2015 - - - - - -
Q3 2015 - - - - - -
Q4 2015 - - - - - -
Q1 2016 - - - - - -
Q2 2016 - - - - - -
Q3 2016 - - - - - -
Q4 2016 - - - - - -
Q1 2017 - - - - - -
Q2 2017 - - - - - -
Q3 2017 - - - - - -
Q4 2017 - - - - - -
Q1 2018 - - - - - -
Q2 2018 - - - - - -
Q3 2018 - - - - - -
Q4 2018 - - - - - -
Q1 2019 - - - - - -
Q2 2019 - - - - - -
Q3 2019 - - - - - -
Q4 2019 - - - - - -
Q1 2020 509.41 - 127.92 - 25.56 -
Q2 2020 422.32 - 87.12 - (5.92) -
Q3 2020 615.92 - 246.93 - 144.14 -
Q4 2020 918.42 - 375.03 - 191.93 -
Q1 2021 773.63 51.9 % 275.46 115.3 % 168.53 559.3 %
Q2 2021 1,017.79 141.0 % 305.93 251.2 % 134.39 2369.8 %
Q3 2021 966.78 57.0 % 327.32 32.6 % 196.31 36.2 %
Q4 2021 1,069.45 16.4 % 414.21 10.4 % 115.37 (39.9 %)
Q1 2022 1,092.01 41.2 % 439.54 59.6 % 269.81 60.1 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2013 - - - - - -
Q2 2013 - - - - - -
Q3 2013 - - - - - -
Q4 2013 - - - - - -
Q1 2014 - - - - - -
Q2 2014 - - - - - -
Q3 2014 - - - - - -
Q4 2014 - - - - - -
Q1 2015 - - - - - -
Q2 2015 - - - - - -
Q3 2015 - - - - - -
Q4 2015 - - - - - -
Q1 2016 - - - - - -
Q2 2016 - - - - - -
Q3 2016 - - - - - -
Q4 2016 - - - - - -
Q1 2017 - - - - - -
Q2 2017 - - - - - -
Q3 2017 - - - - - -
Q4 2017 - - - - - -
Q1 2018 - - - - - -
Q2 2018 - - - - - -
Q3 2018 - - - - - -
Q4 2018 - - - - - -
Q1 2019 - - - - - -
Q2 2019 - - - - - -
Q3 2019 - - - - - -
Q4 2019 - - - - - -
Q1 2020 28.79 - 0.36 - 28.79 0.36
Q2 2020 (2.14) - (0.03) - (2.14) (0.03)
Q3 2020 147.99 - 1.85 - 147.99 1.85
Q4 2020 132.04 - 1.65 - 132.04 1.65
Q1 2021 168.87 486.5 % 2.11 20.53 148.34 1.85
Q2 2021 110.15 5252.0 % 1.38 - 110.15 1.38
Q3 2021 177.60 20.0 % 2.22 0.33 177.28 2.22
Q4 2021 110.27 (16.5 %) 1.38 3.84 106.43 1.33
Q1 2022 249.64 47.8 % 3.12 - 249.64 3.12

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2013 - - -
Q2 2013 - - -
Q3 2013 - - -
Q4 2013 - - -
Q1 2014 - - -
Q2 2014 - - -
Q3 2014 - - -
Q4 2014 - - -
Q1 2015 - - -
Q2 2015 - - -
Q3 2015 - - -
Q4 2015 - - -
Q1 2016 - - -
Q2 2016 - - -
Q3 2016 - - -
Q4 2016 - - -
Q1 2017 - - -
Q2 2017 - - -
Q3 2017 - - -
Q4 2017 - - -
Q1 2018 - - -
Q2 2018 - - -
Q3 2018 - - -
Q4 2018 - - -
Q1 2019 - - -
Q2 2019 - - -
Q3 2019 - - -
Q4 2019 - - -
Q1 2020 - - -
Q2 2020 - - -
Q3 2020 - - -
Q4 2020 33.94 % 18.95 % 12.44 %
Q1 2021 36.06 % 22.33 % 15.61 %
Q2 2021 36.18 % 22.56 % 16.19 %
Q3 2021 34.92 % 21.90 % 15.44 %
Q4 2021 34.56 % 19.08 % 14.17 %
Q1 2022 35.87 % 20.07 % 15.52 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2013 - - - -
Q2 2013 - - - -
Q3 2013 - - - -
Q4 2013 - - - -
Q1 2014 - - - -
Q2 2014 - - - -
Q3 2014 - - - -
Q4 2014 - - - -
Q1 2015 - - - -
Q2 2015 - - - -
Q3 2015 - - - -
Q4 2015 - - - -
Q1 2016 - - - -
Q2 2016 - - - -
Q3 2016 - - - -
Q4 2016 - - - -
Q1 2017 - - - -
Q2 2017 - - - -
Q3 2017 - - - -
Q4 2017 - - - -
Q1 2018 - - - -
Q2 2018 - - - -
Q3 2018 - - - -
Q4 2018 - - - -
Q1 2019 - - - -
Q2 2019 - - - -
Q3 2019 - - - -
Q4 2019 - - - -
Q1 2020 80.00 - - 24.44
Q2 2020 80.00 - - -
Q3 2020 80.00 - - -
Q4 2020 80.00 3.83 3.83 27.92
Q1 2021 80.00 5.58 5.33 30.04
Q2 2021 80.00 6.99 6.73 31.41
Q3 2021 80.00 7.36 7.10 33.63
Q4 2021 80.00 7.09 6.78 35.12
Q1 2022 80.00 8.10 8.04 34.40

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2013 - - -
Q2 2013 - - -
Q3 2013 - - -
Q4 2013 - - -
Q1 2014 - - -
Q2 2014 - - -
Q3 2014 - - -
Q4 2014 - - -
Q1 2015 - - -
Q2 2015 - - -
Q3 2015 - - -
Q4 2015 - - -
Q1 2016 - - -
Q2 2016 - - -
Q3 2016 - - -
Q4 2016 - - -
Q1 2017 - - -
Q2 2017 - - -
Q3 2017 - - -
Q4 2017 - - -
Q1 2018 - - -
Q2 2018 - - -
Q3 2018 - - -
Q4 2018 - - -
Q1 2019 - - -
Q2 2019 - - -
Q3 2019 - - -
Q4 2019 - - -
Q1 2020 - - -
Q2 2020 - - -
Q3 2020 - - -
Q4 2020 - - -
Q1 2021 - - -
Q2 2021 - - -
Q3 2021 - - -
Q4 2021 - - -
Q1 2022 26.53 26.70 6.24

Business Segments (Million)

Compared With The
Period Digital Business Business process outsourcing Digital Services
Q1 2020 392.23 90.27 26.91
Q2 2020 309.90 86.72 25.70
Q3 2020 398.54 202.79 14.59
Q4 2020 626.42 272.71 19.29
Q1 2021 460.17 290.17 23.30
Q2 2021 596.01 396.36 25.41
Q3 2021 475.69 467.59 23.50
Q4 2021 570.50 481.06 17.88
Q1 2022 657.15 387.14 47.72


Financial Ratios
Current
Market Cap (M Riyal) 88,000.00
Enterprise Value (EV) (M) 85,261.53
Shares Outstanding ((M)) 80.00
EPS ( Riyal) (TTM) 20.70
Book Value (BV) ( Riyal) 59.79
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) More than 100
P/E (TTM) More than 100
Price/book 18.40
Return on Average Assets (%) (TTM) 20.5
Return on Average Equity (%) (TTM) 39.4
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Share Price

Elm Co.
1,100.00
(12.00) (1.08 %)

Elm Co. (ELM)

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