Alhasoob profit drops 58% to SAR 1.4 mln in H1 2023

Alhasoob profit drops 58% to SAR 1.4 mln in H1 2023

31/08/2023 Argaam Exclusive

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Alhasoob Co. reported a 58% slump in H1 2023 net profit to SAR 1.4 million, from SAR 3.4 million in the year-earlier period.



Financials (M)

Item 6m 2022 6m 2023 Change‬
Revenues 99.12 105.89 6.8 %
Gross Income 11.06 6.58 (40.5 %)
Operating Income 4.12 2.06 (50.1 %)
Net Income 3.42 1.43 (58.2 %)
Average Shares 2.80 2.80 -
EPS (Riyals) 1.22 0.51 (58.2 %)

The half-year earnings slump was attributed to a fall of 40.5% year-on-year (YoY) in gross profit, due to selling price discounts to drive sales, especially on computers, amid oversupply, market competition and low product profit rates.

 

On the other hand, sales grew by 6.8% YoY, thanks to better printer and ink sales.



Current Half Annual Comparison (M)

Compared With The
Item H1 2022 H1 2023 Change‬
Revenues 99.12 105.89 6.8 %
Gross Income 11.06 6.58 (40.5 %)
Operating Income 4.12 2.06 (50.1 %)
Net Income 3.42 1.43 (58.2 %)
Average Shares 2.80 2.80 -
EPS (Riyals) 1.22 0.51 (58.2 %)

Total shareholders’ equity, no minority interest, rose to SAR 36.98 million as of June 30, 2023, from SAR 32.48 million a year earlier.

 

Historical Data

Period

Revenue

(SAR mln)

Net Profit

(SAR mln)

EPS

(SAR)

H1 2020

120.74

4.60

1.64

H2 2020

134.63

6.44

2.30

H1 2021

110.18

5.67

2.03

H1 2022

146.28

6.28

2.24

H1 2022

99.12

3.42

1.22

H2 2022

121.12

3.24

2.31

H1 2023

105.89

1.43

0.51

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 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 %)
H2 2022 121.12 (17.2 %) 9.59 (31.5 %) 4.07 (40.1 %)
H1 2023 105.89 6.8 % 6.58 (40.5 %) 2.06 (50.1 %)


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 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
H2 2022 3.24 (48.5 %) 1.16 - 3.24 1.16
H1 2023 1.43 (58.2 %) 0.51 - 1.43 0.51

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 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 %
H2 2022 9.38 % 4.03 % 3.02 %
H1 2023 7.12 % 2.99 % 2.06 %


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 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
H2 2022 2.80 2.38 2.38 12.70
H1 2023 2.80 1.67 1.67 13.21

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 59.75 59.75 24.57
H1 2022 32.85 32.85 9.81
H2 2022 41.02 41.02 7.68
H1 2023 60.50 60.50 7.63


Financial Ratios
Current
Market Cap (M Riyal) 149.24
Enterprise Value (EV) (M) 134.42
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 4.01
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Share Price

Alhasoob Co.
53.30
1.30 2.50 %

Alhasoob Co. (ALHASOOB)

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