AlNaqool incurs loss of SAR 293,000 in 2023

31/03/2024 Argaam Exclusive

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Mohammed Hasan AlNaqool Sons Co. reported a net loss of SAR 293,000 for 2023, against a net profit of SAR 203,000 a year earlier.

Financials (M)

Item	2022	2023	Change‬
Revenues	43.23	43.29	0.1 %
Gross Income	5.37	5.98	11.4 %
Operating Income	0.79	2.26	185.0 %
Net Income	0.20	(0.29)	(244.4 %)
Average Shares	2.90	2.90	-
EPS (Riyals)	0.07	(0.10)	(244.4 %)

The losses were attributed to a 72% year-on-year (YoY) increase in financial burdens, a 27% surge in depreciation on assets and higher foreign currency exchange differences from a subsidiary.

Current Half Annual Comparison (M)

Compared With The

Item	H2 2022	H2 2023	Change‬
Revenues	20.12	24.52	21.9 %
Gross Income	0.96	3.77	292.3 %
Operating Income	(1.56)	2.16	238.5 %
Net Income	(0.09)	0.36	503.8 %
Average Shares	2.90	2.90	-
EPS (Riyals)	(0.03)	0.12	503.8 %

Item	H1 2023	H2 2023	Change‬
Revenues	18.77	24.52	30.6 %
Gross Income	2.21	3.77	70.3 %
Operating Income	0.10	2.16	2053.6 %
Net Income	(0.65)	0.36	155.1 %
Average Shares	2.90	2.90	-
EPS (Riyals)	(0.22)	0.12	155.1 %

Shareholders' equity, no minority rights, stood at SAR 50.17 million by the end of 2023, compared with SAR 5 million a year earlier.

Historical Data
Period	Revenues (SAR mln)	Net Earnings (SAR mln)	EPS (SAR/Share)
H1 2019	16.75	2.40	0.83
H2 2019	17.60	3.85	1.33
H1 2020	18.80	1.52	0.52
H2 2020	26.04	4.96	1.71
H1 2021	23.25	4.04	1.39
H2 2021	30.07	5.17	1.78
H1 2022	23.11	0.29	0.10
H2 2022	20.12	(0.09)	(0.03)
H1 2023	18.77	1.15	0.40
H2 2023	24.52	(1.45)	(0.50)

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Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
H1 2014	-	-	-	-	-	-
H2 2014	-	-	-	-	-	-
2014	-	-	-	-	-	-
H1 2015	-	-	-	-	-	-
H2 2015	-	-	-	-	-	-
2015	-	-	-	-	-	-
H1 2016	-	-	-	-	-	-
H2 2016	-	-	-	-	-	-
2016	-	-	-	-	-	-
H1 2017	-	-	-	-	-	-
H2 2017	-	-	-	-	-	-
2017	-	-	-	-	-	-
H1 2018	-	-	-	-	-	-
H2 2018	-	-	-	-	-	-
2018	29.19	-	5.39	-	4.31	-
H1 2019	16.75	-	3.04	-	2.10	-
H2 2019	17.60	-	5.55	-	4.22	-
2019	34.35	17.7 %	8.59	59.4 %	6.32	46.6 %
H1 2020	18.80	12.3 %	2.82	(7.2 %)	1.57	(25.4 %)
H2 2020	26.03	47.9 %	7.39	33.0 %	5.02	18.8 %
2020	44.84	30.5 %	10.21	18.8 %	6.58	4.1 %
H1 2021	23.25	23.6 %	6.04	114.2 %	4.16	165.0 %
H2 2021	30.08	15.5 %	4.97	(32.7 %)	4.00	(20.2 %)
2021	53.32	18.9 %	11.01	7.9 %	8.16	23.9 %
H1 2022	23.11	(0.6 %)	4.41	(27.0 %)	2.36	(43.3 %)
H2 2022	20.12	(33.1 %)	0.96	(80.7 %)	(1.56)	(139.1 %)
2022	43.23	(18.9 %)	5.37	(51.2 %)	0.79	(90.3 %)
H1 2023	18.77	(18.8 %)	2.21	(49.8 %)	0.10	(95.7 %)
H2 2023	24.52	21.9 %	3.77	292.3 %	2.16	238.5 %
2023	43.29	0.1 %	5.98	11.4 %	2.26	185.0 %

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	-	-	-	-	-	-
2018	29.19	-	5.39	-	4.31	-
2019	34.35	17.7 %	8.59	59.4 %	6.32	46.6 %
2020	44.84	30.5 %	10.21	18.8 %	6.58	4.1 %
2021	53.32	18.9 %	11.01	7.9 %	8.16	23.9 %
2022	43.23	(18.9 %)	5.37	(51.2 %)	0.79	(90.3 %)
2023	43.29	0.1 %	5.98	11.4 %	2.26	185.0 %

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	-	-	-	-	-	-
2014	-	-	-	-	-	-
H1 2015	-	-	-	-	-	-
H2 2015	-	-	-	-	-	-
2015	-	-	-	-	-	-
H1 2016	-	-	-	-	-	-
H2 2016	-	-	-	-	-	-
2016	-	-	-	-	-	-
H1 2017	-	-	-	-	-	-
H2 2017	-	-	-	-	-	-
2017	-	-	-	-	-	-
H1 2018	-	-	-	-	-	-
H2 2018	-	-	-	-	-	-
2018	2.46	-	0.85	-	2.46	0.85
H1 2019	2.40	-	0.83	-	2.40	0.83
H2 2019	3.85	-	1.33	-	3.85	1.33
2019	6.25	154.6 %	2.16	-	6.25	2.16
H1 2020	1.52	(36.8 %)	0.52	-	1.52	0.52
H2 2020	4.96	28.8 %	1.71	-	4.96	1.71
2020	6.48	3.6 %	2.23	-	6.48	2.23
H1 2021	4.04	166.2 %	1.39	-	4.04	1.39
H2 2021	5.16	4.1 %	1.78	-	5.16	1.78
2021	9.20	42.1 %	3.17	-	9.20	3.17
H1 2022	0.29	(92.8 %)	0.10	-	0.29	0.10
H2 2022	(0.09)	(101.7 %)	(0.03)	1.41	(1.50)	(0.52)
2022	0.20	(97.8 %)	0.07	1.41	(1.21)	(0.42)
H1 2023	(0.65)	(323.5 %)	(0.22)	-	(0.65)	(0.22)
H2 2023	0.36	503.8 %	0.12	-	0.36	0.12
2023	(0.29)	(244.4 %)	(0.10)	-	(0.29)	(0.10)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	-	-	-	-	-	-
2018	2.46	-	0.85	-	2.46	0.85
2019	6.25	154.6 %	2.16	-	6.25	2.16
2020	6.48	3.6 %	2.23	-	6.48	2.23
2021	9.20	42.1 %	3.17	-	9.20	3.17
2022	0.20	(97.8 %)	0.07	1.41	(1.21)	(0.42)
2023	(0.29)	(244.4 %)	(0.10)	-	(0.29)	(0.10)

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
H1 2014	-	-	-
H2 2014	-	-	-
2014	-	-	-
H1 2015	-	-	-
H2 2015	-	-	-
2015	-	-	-
H1 2016	-	-	-
H2 2016	-	-	-
2016	-	-	-
H1 2017	-	-	-
H2 2017	-	-	-
2017	-	-	-
H1 2018	-	-	-
H2 2018	-	-	-
2018	18.46 %	26.85 %	8.42 %
H1 2019	-	-	-
H2 2019	25.02 %	28.92 %	18.21 %
2019	25.02 %	28.92 %	18.21 %
H1 2020	23.01 %	25.40 %	14.75 %
H2 2020	22.77 %	22.96 %	14.45 %
2020	22.77 %	22.96 %	14.45 %
H1 2021	27.25 %	27.07 %	18.27 %
H2 2021	20.65 %	22.61 %	17.26 %
2021	20.65 %	22.61 %	17.26 %
H1 2022	17.63 %	19.29 %	10.25 %
H2 2022	12.42 %	10.79 %	(2.80 %)
2022	12.42 %	10.79 %	(2.80 %)
H1 2023	8.16 %	7.41 %	(5.54 %)
H2 2023	13.82 %	16.51 %	(0.68 %)
2023	13.82 %	16.51 %	(0.68 %)

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	18.46 %	26.85 %	8.42 %
2019	25.02 %	28.92 %	18.21 %
2020	22.77 %	22.96 %	14.45 %
2021	20.65 %	22.61 %	17.26 %
2022	12.42 %	10.79 %	(2.80 %)
2023	13.82 %	16.51 %	(0.68 %)

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	18.15 %	22.63 %	14.35 %
H2 2019	31.55 %	34.90 %	21.88 %
H1 2020	15.00 %	16.50 %	8.08 %
H2 2020	28.38 %	27.62 %	19.05 %
H1 2021	25.99 %	26.45 %	17.39 %
H2 2021	16.53 %	19.65 %	17.16 %
H1 2022	19.08 %	18.82 %	1.26 %
H2 2022	4.78 %	1.56 %	(7.47 %)
H1 2023	11.80 %	13.67 %	(3.47 %)
H2 2023	15.38 %	18.68 %	1.47 %

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	2.90	-	-	-
H2 2019	2.90	2.16	2.16	11.88
H1 2020	2.90	1.85	1.85	12.40
H2 2020	2.90	2.23	2.23	14.15
H1 2021	2.90	3.10	3.10	15.54
H2 2021	2.90	3.17	3.17	17.32
H1 2022	2.90	1.88	1.88	17.43
H2 2022	2.90	0.07	(0.42)	17.43
H1 2023	2.90	(0.26)	(0.74)	17.20
H2 2023	2.90	(0.10)	(0.10)	17.30

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2014	-	-	-	-
2015	-	-	-	-
2016	-	-	-	-
2017	-	-	-	-
2018	2.90	0.85	0.85	10.89
2019	2.90	2.16	2.16	11.88
2020	2.90	2.23	2.23	14.15
2021	2.90	3.17	3.17	17.32
2022	2.90	0.07	(0.42)	17.43
2023	2.90	(0.10)	(0.10)	17.30

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	36.27	36.27	7.25
H2 2021	55.64	55.64	10.20
H1 2022	49.24	49.24	5.31
H2 2022	More than 100	NEG	3.67
H1 2023	NEG	NEG	3.42
H2 2023	NEG	NEG	3.03

Period	P/E	Adjusted P/E	Price/book
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	-	-	-
2020	-	-	-
2021	55.64	55.64	10.20
2022	More than 100	NEG	3.67
2023	NEG	NEG	3.03

Business Segments (Million)

Compared With The

Period	Concrete and cement block segment	Real estate segment	Others
Q2 2023	18.77	-	-
Q4 2023	20.93	3.59	-

Period	Concrete and cement block segment	Real estate segment	Others
2022	42.35	-	0.88
2023	39.69	3.59	-

Financial Ratios

	Current
Market Cap (M Riyal)	147.32
Enterprise Value (EV) (M)	164.95
Shares Outstanding ((M))	2.90
Book Value (BV) ( Riyal)	17.30
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	Neg
Price/book	2.94

Mohammed Hasan AlNaqool Sons Co. (ALNAQOOL)

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AlNaqool incurs loss of SAR 293,000 in 2023

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Financials (M)

Current Half Annual Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million)

Revenue by Business Segment (Latest) 2023 Q4

Financial Ratios

Share Price

Mohammed Hasan AlNaqool Sons Co. (ALNAQOOL)

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AlNaqool incurs loss of SAR 293,000 in 2023

View other reports

Financials (M)

Current Half Annual Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million) Q4 2023

Revenue by Business Segment (Latest) 2023 Q4

Financial Ratios

Share Price

Mohammed Hasan AlNaqool Sons Co. (ALNAQOOL)

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Business Segments (Million)