Enma AlRawabi net profit down 6% to SAR 22 mln for 2021

Enma AlRawabi net profit down 6% to SAR 22 mln for 2021

17/03/2022 Argaam Exclusive

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Enma AlRawabi Co. reported a net profit after Zakat and tax of SAR 22 million for 2021, a decline of 6%, from SAR 23.3 million in the year-earlier period.



Financials (M)

Item 2020 2021 Change‬
Revenues 42.53 38.98 (8.3 %)
Gross Income 29.24 28.31 (3.2 %)
Operating Income 24.91 23.21 (6.8 %)
Net Income 23.34 21.99 (5.8 %)
Average Shares 40.00 40.00 -
EPS (Riyals) 0.58 0.55 (5.8 %)

The earnings drop was driven by lower rent revenue on the COVID-19 outbreak, and higher general and administrative expenses (G&As).



Current Half Annual Comparison (M)

Compared With The
Item H2 2020 H2 2021 Change‬
Revenues 25.39 19.38 (23.7 %)
Gross Income 17.95 13.98 (22.1 %)
Operating Income 14.72 10.35 (29.7 %)
Net Income 13.11 9.18 (30.0 %)
Average Shares 40.00 40.00 -
EPS (Riyals) 0.33 0.23 (30.0 %)

Total shareholders’ equity, excluding minority interest, rose 4.65% to SAR 492.565 million in 2021 from SAR 470.68 million a year earlier.

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Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
H1 2012 - - - - - -
H2 2012 - - - - - -
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 17.15 - 11.29 - 10.19 -
H2 2020 25.39 - 17.95 - 14.72 -
H1 2021 19.60 14.3 % 14.33 27.0 % 12.86 26.2 %
H2 2021 19.38 (23.7 %) 13.98 (22.1 %) 10.35 (29.7 %)
2021 38.98 (8.3 %) 28.31 (3.2 %) 23.21 (6.8 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
H1 2012 - - - - - -
H2 2012 - - - - - -
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 10.23 - 0.26 - 10.23 0.26
H2 2020 13.11 - 0.33 - 13.11 0.33
H1 2021 12.81 25.3 % 0.32 - 12.81 0.32
H2 2021 9.18 (30.0 %) 0.23 - 9.18 0.23
2021 21.99 (5.8 %) 0.55 - 21.99 0.55

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
H1 2012 - - -
H2 2012 - - -
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 68.75 % 78.22 % 54.87 %
H1 2021 71.76 % 80.28 % 57.63 %
H2 2021 72.62 % 81.54 % 56.41 %
2021 72.62 % 81.53 % 56.41 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
H1 2012 - - - -
H2 2012 - - - -
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 40.00 - - -
H2 2020 40.00 0.58 0.58 11.77
H1 2021 40.00 0.65 0.65 12.09
H2 2021 40.00 0.55 0.55 12.31

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
H1 2012 - - -
H2 2012 - - -
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 62.02 62.02 2.77

Business Segments (Million)

Compared With The
Period Commercial center housing center


Financial Ratios
Current
Market Cap (M Riyal) 740.00
Enterprise Value (EV) (M) 690.07
Shares Outstanding ((M)) 40.00
Book Value (BV) ( Riyal) 13.91
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 17.54
Price/book 1.33
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Share Price

Enma AlRawabi Co.
18.50
0.46 2.55 %

Enma AlRawabi Co. (ENMA ALRAWABI)

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