Tadweeer posts 20% profit rise to SAR 10.1 mln in H1 2023

Tadweeer posts 20% profit rise to SAR 10.1 mln in H1 2023

13/08/2023 Argaam Exclusive

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National Environmental Recycling Co. (Tadweeer) recorded a 10% increase in H1 2023 net profit to SAR 10.1 million from SAR 8.5 million in the prior-year period.



Financials (M)

Item 6m 2022 6m 2023 Change‬
Revenues 191.69 257.99 34.6 %
Gross Income 14.02 17.14 22.3 %
Operating Income 11.11 13.11 18.0 %
Net Income 8.47 10.15 19.8 %
Average Shares 58.08 58.08 -
EPS (Riyals) 0.15 0.17 19.8 %

The profit growth was buoyed by an around 35% rise year-on-year (YoY) in sales volumes.



Current Half Annual Comparison (M)

Compared With The
Item H1 2022 H1 2023 Change‬
Revenues 191.69 257.99 34.6 %
Gross Income 14.02 17.14 22.3 %
Operating Income 11.11 13.11 18.0 %
Net Income 8.47 10.15 19.8 %
Average Shares 58.08 58.08 -
EPS (Riyals) 0.15 0.17 19.8 %

Shareholders’ equity, with no minority interest, declined to SAR 186.14 million as of June 30, 2023, from SAR 146.68 million a year earlier.

 

Historical Data

Period

Revenue

Net Profit

EPS

H1 2021

67.15

9.77

0.17

H2 2021

86.45

1.5

0.03

H1 2022

212.93

8.47

0.15

H2 2022

212.24

9.65

0.17

H1 2023

257.99

10.15

0.17

View more financial results

 


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 67.15 - 10.67 - 8.13 -
H2 2021 86.45 - 8.07 - 2.56 -
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 %
H1 2023 257.99 34.6 % 17.14 22.3 % 13.11 18.0 %


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 - - - - - -
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 9.77 - 0.22 2.35 7.42 0.16
H2 2021 1.50 - 0.03 - 1.50 0.03
H1 2022 8.47 (13.2 %) 0.15 - 8.47 0.15
H2 2022 9.64 543.6 % 0.17 - 9.64 0.17
H1 2023 10.15 19.8 % 0.17 0.74 9.41 0.16

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 12.20 % 8.83 % 5.80 %
H1 2022 7.94 % 6.15 % 3.59 %
H2 2022 7.67 % 6.97 % 4.50 %
H1 2023 7.25 % 6.73 % 4.06 %


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 45.00 - - -
H2 2021 58.08 0.19 0.15 2.38
H1 2022 58.08 0.17 0.17 2.53
H2 2022 58.08 0.31 0.31 2.69
H1 2023 58.08 0.34 0.33 3.20

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 43.33 43.33 2.94
H2 2022 18.59 18.59 2.15
H1 2023 21.71 22.56 2.31


Financial Ratios
Current
Market Cap (M Riyal) 906.05
Enterprise Value (EV) (M) 974.66
Shares Outstanding ((M)) 58.08
Book Value (BV) ( Riyal) 3.44
Par Value ( Riyal) 1.00
Adjusted P/E (Last12) 39.27
Price/book 4.53
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Share Price

National Environmental Recycling Co.
15.50
0.06 0.39 %

National Environmental Recycling Co. (TADWEEER)

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