Tadweeer’s H1 2024 net profit grows 9% to SAR 11M

Tadweeer’s H1 2024 net profit grows 9% to SAR 11M

29/08/2024 Argaam Exclusive

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National Environmental Recycling Co. (Tadweeer) reported a net profit rise of 9% to SAR 11 million in the first half of 2024, compared to SAR 10.2 million in the year-earlier period.



Financials (M)

Item 6m 2023 6m 2024 Change‬
Revenues 257.99 396.89 53.8 %
Gross Income 17.14 20.07 17.1 %
Operating Income 13.11 13.98 6.7 %
Net Income 10.15 11.03 8.6 %
Average Shares 116.16 116.16 -
EPS (Riyals) 0.09 0.09 8.6 %


Current Half Annual Comparison (M)

Compared With The
Item H1 2023 H1 2024 Change‬
Revenues 257.99 396.89 53.8 %
Gross Income 17.14 20.07 17.1 %
Operating Income 13.11 13.98 6.7 %
Net Income 10.15 11.03 8.6 %
Average Shares 116.16 116.16 -
EPS (Riyals) 0.09 0.09 8.6 %

The six-month net earnings were bolstered by higher sales, mainly due to the launch of several recycling lines, in addition to increased exports to Asia. 

 

Total shareholders’ equity, no minority interest, stood at SAR 210.95 million by the end of H1 2024, compared to SAR 186.14 million in the year-earlier period.

 

Historical Data

Period

Revenues

(SAR mln)

Net Profit

(SAR mln)

EPS

(SAR)

H1 2021

67.15

9.77

0.17

H2 2021

86.45

1.49

0.02

H1 2022

191.69

8.47

0.15

H2 2022

210.76

9.64

0.17

H1 2023

257.99

10.15

0.18

H2 2023

373.92

13.67

0.24

H1 2024

396.89

11.02

0.2

 

View More Financial Results

 


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
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 %
H2 2023 373.92 77.4 % 21.80 29.2 % 15.51 26.1 %
H1 2024 396.89 53.8 % 20.07 17.1 % 13.98 6.7 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
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 - 0.11 2.35 7.42 0.08
H2 2021 1.50 - 0.01 - 1.50 0.01
H1 2022 8.47 (13.2 %) 0.07 - 8.47 0.07
H2 2022 9.64 543.6 % 0.08 - 9.64 0.08
H1 2023 10.15 19.8 % 0.09 0.74 9.41 0.08
H2 2023 13.67 41.7 % 0.12 - 13.67 0.12
H1 2024 11.03 8.6 % 0.09 - 11.03 0.09

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
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 %
H2 2023 6.16 % 5.69 % 3.65 %
H1 2024 5.43 % 5.05 % 3.20 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
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 90.00 - - -
H2 2021 116.16 0.10 0.08 1.19
H1 2022 116.16 0.09 0.09 1.26
H2 2022 116.16 0.16 0.16 1.35
H1 2023 116.16 0.17 0.16 1.60
H2 2023 116.16 0.21 0.20 1.72
H1 2024 116.16 0.21 0.21 1.82

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
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
H2 2023 19.75 20.39 2.35
H1 2024 32.27 32.27 3.78


Share Price

National Environmental Recycling Co.
8.45
0.31 3.81 %

National Environmental Recycling Co. (TADWEEER)

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