Tadweeer’s 2022 net profit jumps 61% to SAR 18.1 mln
29/03/2023
Argaam Exclusive
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National Environmental Recycling Co. (Tadweeer) reported a net profit jump of 61% to SAR 18.1 million in 2022, compared to SAR 11.3 million a year earlier.
Financials (M)
| Item | 2021 | 2022 | Change |
|---|---|---|---|
| Revenues | 153.60 | 402.45 | 162.0 % |
| Gross Income | 18.73 | 30.89 | 64.9 % |
| Operating Income | 10.68 | 23.40 | 119.1 % |
| Net Income | 11.26 | 18.12 | 60.8 % |
| Average Shares | 58.08 | 58.08 | - |
| EPS (Riyals) | 0.19 | 0.31 | 60.8 % |
This profit rise came as sales grew 163% year-on-year (YoY). This is in addition to the efficient management of the cost of sales as well as general and administrative expenses.
Compared With The
Current Half Annual Comparison (M)
| Item | H2 2021 | H2 2022 | Change |
|---|---|---|---|
| Revenues | 86.45 | 210.76 | 143.8 % |
| Gross Income | 8.07 | 16.87 | 109.1 % |
| Operating Income | 2.56 | 12.30 | 380.7 % |
| Net Income | 1.50 | 9.64 | 543.6 % |
| Average Shares | 58.08 | 58.08 | - |
| EPS (Riyals) | 0.03 | 0.17 | 543.6 % |
Total shareholders’ equity, no minority interest, stood at SAR 156.5 million by Dec. 31, 2022, compared to SAR 138.3 million a year earlier.
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| H1 2022 | 191.69 | 185.5 % | 14.02 | 31.4 % | 11.11 | 36.7 % |
| H2 2022 | 210.76 | 143.8 % | 16.87 | 109.1 % | 12.30 | 380.7 % |
| 2022 | 402.45 | 162.0 % | 30.89 | 64.9 % | 23.40 | 119.1 % |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS Before XO Items |
|---|---|---|---|---|---|---|
| H1 2022 | 8.47 | (13.2 %) | 0.15 | - | 8.47 | 0.15 |
| H2 2022 | 9.64 | 543.6 % | 0.17 | - | 9.64 | 0.17 |
| 2022 | 18.12 | 60.8 % | 0.31 | - | 18.12 | 0.31 |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| H1 2022 | 7.94 % | 6.15 % | 3.59 % |
| H2 2022 | 7.67 % | 6.97 % | 4.50 % |
| 2022 | 7.67 % | 6.97 % | 4.50 % |
Compared With The
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| H1 2022 | 58.08 | 0.17 | 0.17 | 2.53 |
| H2 2022 | 58.08 | 0.31 | 0.31 | 2.69 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| H1 2022 | 43.33 | 43.33 | 2.94 |
| H2 2022 | 18.59 | 18.59 | 2.15 |
| Current | |
| Market Cap (M Riyal) | 900.24 |
| Enterprise Value (EV) (M) | 968.85 |
| Shares Outstanding ((M)) | 58.08 |
| Book Value (BV) ( Riyal) | 3.44 |
| Par Value ( Riyal) | 1.00 |
| Adjusted P/E (Last12) | 39.02 |
| Price/book | 4.50 |
Share Price
National Environmental Recycling Co. (TADWEEER)
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