Rawasi Albina H1 net profit jumps 59.77% to SAR 15.12 ml

Rawasi Albina H1 net profit jumps 59.77% to SAR 15.12 ml

02/08/2023 Argaam Exclusive

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Rawasi Albina Investment Co. reported a net profit of SAR 15.12 million in the first half of 2023, a jump of 59.77% compared to SAR 9.46 million in the same period a year earlier.



Financials (M)

Item 6m 2022 6m 2023 Change‬
Revenues 55.39 94.20 70.1 %
Gross Income 16.28 24.65 51.4 %
Operating Income 13.04 20.91 60.3 %
Net Income 9.47 15.13 59.8 %
Average Shares 55.00 55.00 -
EPS (Riyals) 0.17 0.28 59.8 %

This was spurred by higher revenues and remarkable growth in infrastructure and telecom projects.



Current Half Annual Comparison (M)

Compared With The
Item H1 2022 H1 2023 Change‬
Revenues 55.39 94.20 70.1 %
Gross Income 16.28 24.65 51.4 %
Operating Income 13.04 20.91 60.3 %
Net Income 9.47 15.13 59.8 %
Average Shares 55.00 55.00 -
EPS (Riyals) 0.17 0.28 59.8 %

Shareholders’ equity, after deducting minority interest, reached SAR 130.03 million as of June 30, 2023, compared to SAR 102.49 million in a year earlier period.

 

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Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
H1 2014 - - - - - -
H2 2014 - - - - - -
H1 2015 - - - - - -
H2 2015 - - - - - -
H1 2016 - - - - - -
H2 2016 - - - - - -
H1 2017 - - - - - -
H2 2017 - - - - - -
H1 2018 - - - - - -
H2 2018 - - - - - -
H1 2019 - - - - - -
H2 2019 - - - - - -
H1 2020 - - - - - -
H2 2020 - - - - - -
H1 2021 45.45 - 14.31 - 11.72 -
H2 2021 50.09 - 15.70 - 12.25 -
H1 2022 55.39 21.9 % 16.28 13.7 % 13.04 11.3 %
H2 2022 79.84 59.4 % 21.27 35.5 % 17.95 46.5 %
H1 2023 94.20 70.1 % 24.65 51.4 % 20.91 60.3 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
H1 2014 - - - - - -
H2 2014 - - - - - -
H1 2015 - - - - - -
H2 2015 - - - - - -
H1 2016 - - - - - -
H2 2016 - - - - - -
H1 2017 - - - - - -
H2 2017 - - - - - -
H1 2018 - - - - - -
H2 2018 - - - - - -
H1 2019 - - - - - -
H2 2019 - - - - - -
H1 2020 - - - - - -
H2 2020 - - - - - -
H1 2021 10.08 - 0.18 - 10.08 0.18
H2 2021 7.41 - 0.13 - 7.41 0.13
H1 2022 9.47 (6.0 %) 0.17 - 9.47 0.17
H2 2022 11.43 54.3 % 0.21 - 11.43 0.21
H1 2023 15.13 59.8 % 0.28 - 15.13 0.28

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
H1 2014 - - -
H2 2014 - - -
H1 2015 - - -
H2 2015 - - -
H1 2016 - - -
H2 2016 - - -
H1 2017 - - -
H2 2017 - - -
H1 2018 - - -
H2 2018 - - -
H1 2019 - - -
H2 2019 - - -
H1 2020 - - -
H2 2020 - - -
H1 2021 - - -
H2 2021 31.41 % 29.46 % 18.30 %
H1 2022 30.31 % 27.36 % 16.00 %
H2 2022 27.77 % 26.17 % 15.45 %
H1 2023 26.38 % 25.15 % 15.26 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
H1 2014 - - - -
H2 2014 - - - -
H1 2015 - - - -
H2 2015 - - - -
H1 2016 - - - -
H2 2016 - - - -
H1 2017 - - - -
H2 2017 - - - -
H1 2018 - - - -
H2 2018 - - - -
H1 2019 - - - -
H2 2019 - - - -
H1 2020 - - - -
H2 2020 - - - -
H1 2021 55.00 - - 1.56
H2 2021 55.00 0.32 0.32 1.69
H1 2022 55.00 0.31 0.31 1.86
H2 2022 55.00 0.38 0.38 2.09
H1 2023 55.00 0.48 0.48 2.36

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
H1 2014 - - -
H2 2014 - - -
H1 2015 - - -
H2 2015 - - -
H1 2016 - - -
H2 2016 - - -
H1 2017 - - -
H2 2017 - - -
H1 2018 - - -
H2 2018 - - -
H1 2019 - - -
H2 2019 - - -
H1 2020 - - -
H2 2020 - - -
H1 2021 - - -
H2 2021 - - -
H1 2022 - - -
H2 2022 16.42 16.42 2.99
H1 2023 12.47 12.47 2.55

Business Segments (Million)

Compared With The
Period Electricity installation and connection service Communications installation and connection services Selling shutters and communications supplies


Financial Ratios
Current
Market Cap (M Riyal) 224.40
Enterprise Value (EV) (M) 264.11
Shares Outstanding ((M)) 55.00
Book Value (BV) ( Riyal) 2.50
Par Value ( Riyal) 1.00
Adjusted P/E (Last12) 9.89
Price/book 1.63
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Share Price

Rawasi Albina Investment Co.
4.08
0.01 0.25 %

Rawasi Albina Investment Co. (RAWASI)

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