Alhasoob’s H1 2022 net profit declines 40% to SAR 3.4 mln

Alhasoob’s H1 2022 net profit declines 40% to SAR 3.4 mln

23/08/2022 Argaam Exclusive

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Alhasoob Co. reported a net profit after Zakat and tax of SAR 3.4 million in H1 2022, a slump of 40%, compared to SAR 5.7 million in the prior-year period.



Financials (M)

Item 6m 2021 6m 2022 Change‬
Revenues 110.18 99.12 (10.0 %)
Gross Income 10.11 11.06 9.5 %
Operating Income 6.02 4.12 (31.5 %)
Net Income 5.67 3.42 (39.7 %)
Average Shares 2.80 2.80 -
EPS (Riyals) 2.02 1.22 (39.7 %)

This was triggered by a year-on-year (YoY) drop in revenue and exports, amid a YoY rise in selling and administrative expenses.



Current Half Annual Comparison (M)

Compared With The
Item H1 2021 H1 2022 Change‬
Revenues 110.18 99.12 (10.0 %)
Gross Income 10.11 11.06 9.5 %
Operating Income 6.02 4.12 (31.5 %)
Net Income 5.67 3.42 (39.7 %)
Average Shares 2.80 2.80 -
EPS (Riyals) 2.02 1.22 (39.7 %)

Total shareholders’ equity, excluding minority interest, stood at SAR 32.479 million by the end of H1 2022, compared to SAR 22.822 million in the year-earlier period.

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Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
H1 2013 - - - - - -
H2 2013 - - - - - -
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 120.74 - 8.69 - 4.87 -
H2 2020 134.63 - 11.44 - 6.86 -
H1 2021 110.18 (8.7 %) 10.11 16.3 % 6.02 23.6 %
H2 2021 146.27 8.6 % 13.99 22.4 % 6.79 (0.9 %)
H1 2022 99.12 (10.0 %) 11.06 9.5 % 4.12 (31.5 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
H1 2013 - - - - - -
H2 2013 - - - - - -
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 4.60 - 1.64 - 4.60 1.64
H2 2020 6.44 - 2.30 - 6.44 2.30
H1 2021 5.67 23.2 % 2.02 - 5.67 2.02
H2 2021 6.28 (2.4 %) 2.24 - 6.28 2.24
H1 2022 3.42 (39.7 %) 1.22 - 3.42 1.22

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
H1 2013 - - -
H2 2013 - - -
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 7.88 % 4.82 % 4.32 %
H1 2021 8.80 % 5.45 % 4.94 %
H2 2021 9.40 % 5.24 % 4.66 %
H1 2022 10.21 % 4.73 % 3.95 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
H1 2013 - - - -
H2 2013 - - - -
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 2.80 - - -
H2 2020 2.80 3.94 3.94 8.99
H1 2021 2.80 4.32 4.32 8.15
H2 2021 2.80 4.27 4.27 10.38
H1 2022 2.80 3.46 3.46 11.60

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
H1 2013 - - -
H2 2013 - - -
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 59.75 59.75 24.57
H1 2022 32.85 32.85 9.81


Financial Ratios
Current
Market Cap (M Riyal) 144.20
Enterprise Value (EV) (M) 129.38
Shares Outstanding ((M)) 2.80
Book Value (BV) ( Riyal) 13.28
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) More than 100
Price/book 3.88
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Share Price

Alhasoob Co.
51.50
(1.80) (3.38 %)

Alhasoob Co. (ALHASOOB)

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