Enma Al Rawabi’s H1 2022 net profit down 3% to SAR 12.4 mln

Enma Al Rawabi’s H1 2022 net profit down 3% to SAR 12.4 mln

06/09/2022 Argaam Exclusive

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Enma Al Rawabi Co. reported to a 3% decrease in H1 2022 net profit after Zakat and tax to SAR 12.4 million, from SAR 12.8 million in the year-earlier period, driven by higher general and administrative expenses (G&As) compared to a year-earlier period.



Financials (M)

Item 6m 2021 6m 2022 Change‬
Revenues 19.60 20.05 2.3 %
Gross Income 14.33 14.77 3.0 %
Operating Income 12.86 11.95 (7.1 %)
Net Income 12.81 12.38 (3.4 %)
Average Shares 40.00 40.00 -
EPS (Riyals) 0.32 0.31 (3.4 %)

The company cited calculating Zakat for the current period, while there are no comparative calculations for H1 2021, in addition to Zakat claim differences from previous years.



Current Half Annual Comparison (M)

Compared With The
Item H1 2021 H1 2022 Change‬
Revenues 19.60 20.05 2.3 %
Gross Income 14.33 14.77 3.0 %
Operating Income 12.86 11.95 (7.1 %)
Net Income 12.81 12.38 (3.4 %)
Average Shares 40.00 40.00 -
EPS (Riyals) 0.32 0.31 (3.4 %)

Shareholders’ equity, after minority interest, reached SAR 504.94 million as of June 30, 2022, up from SAR 483.494 million a year earlier.



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 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 %)
H1 2022 20.05 2.3 % 14.77 3.0 % 11.95 (7.1 %)


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 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
H1 2022 12.38 (3.4 %) 0.31 - 12.38 0.31

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 68.75 % 78.22 % 54.87 %
H1 2021 71.76 % 80.28 % 57.63 %
H2 2021 72.62 % 81.54 % 56.41 %
H1 2022 72.89 % 78.41 % 54.67 %


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 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
H1 2022 40.00 0.54 0.54 12.62

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 62.02 62.02 2.77
H1 2022 40.82 40.82 1.74

Business Segments (Million)

Compared With The
Period Commercial center housing center

Current
Market Cap (M Riyal) 751.20
Enterprise Value (EV) (M) 701.27
Shares Outstanding ((M)) 40.00
Book Value (BV) ( Riyal) 13.91
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 17.81
Price/book 1.35

Share Price

18.78
0.28 1.51 %

Enma AlRawabi Co. (ENMA ALRAWABI)


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