Enma AlRawabi’s profit up 33% to SAR 42.2M in 2023

10/03/2024 Argaam Exclusive

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Enma AlRawabi Co. reported a 33% leap in 2023 net profit to SAR 42.2 million from SAR 31.8 million in 2022.

Financials (M)

Item	2022	2023	Change‬
Revenues	48.13	61.74	28.3 %
Gross Income	37.75	50.68	34.3 %
Operating Income	33.36	44.89	34.6 %
Net Income	31.84	42.18	32.5 %
Average Shares	40.00	40.00	-
EPS (Riyals)	0.80	1.05	32.5 %

The profit growth was due to the increase in the rental value of some rental units and the addition of a new property, coupled with the year-on-year (YoY) drop in Zakat expenses.

Current Half Annual Comparison (M)

Compared With The

Item	H2 2022	H2 2023	Change‬
Revenues	28.08	40.22	43.2 %
Gross Income	22.98	34.66	50.8 %
Operating Income	21.41	31.93	49.1 %
Net Income	19.46	29.98	54.1 %
Average Shares	40.00	40.00	-
EPS (Riyals)	0.49	0.75	54.1 %

Item	H1 2023	H2 2023	Change‬
Revenues	21.52	40.22	87.0 %
Gross Income	16.02	34.66	116.4 %
Operating Income	12.97	31.93	146.2 %
Net Income	12.20	29.98	145.7 %
Average Shares	40.00	40.00	-
EPS (Riyals)	0.31	0.75	145.7 %

Total shareholders’ equity, no minority interest, reached SAR 556.22 million as of Dec. 31, 2023, compared to SAR 524.32 million a year earlier.

Historical Data
Period	Revenues (SAR mln)	Net Profit (SAR mln)	EPS (SAR)
H1 2020	17.15	10.23	0.26
H2 2020	25.38	13.11	0.32
H1 2021	19.60	12.82	0.32
H2 2021	19.38	9.17	0.23
H1 2022	20.05	12.38	0.31
H2 2022	28.08	19.46	0.49
H1 2023	21.52	12.20	0.31
H2 2023	40.22	29.98	0.75

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Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
H1 2014	-	-	-	-	-	-
H2 2014	-	-	-	-	-	-
2014	-	-	-	-	-	-
H1 2015	-	-	-	-	-	-
H2 2015	-	-	-	-	-	-
2015	-	-	-	-	-	-
H1 2016	-	-	-	-	-	-
H2 2016	-	-	-	-	-	-
2016	-	-	-	-	-	-
H1 2017	-	-	-	-	-	-
H2 2017	-	-	-	-	-	-
2017	-	-	-	-	-	-
H1 2018	-	-	-	-	-	-
H2 2018	-	-	-	-	-	-
2018	43.28	-	27.39	-	24.68	-
H1 2019	-	-	-	-	-	-
H2 2019	-	-	-	-	-	-
2019	45.00	4.0 %	31.77	16.0 %	28.87	17.0 %
H1 2020	17.15	-	11.29	-	10.19	-
H2 2020	25.39	-	17.95	-	14.72	-
2020	42.53	(5.5 %)	29.24	(8.0 %)	24.91	(13.7 %)
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 %)
H1 2022	20.05	2.3 %	14.77	3.0 %	11.95	(7.1 %)
H2 2022	28.08	44.9 %	22.98	64.4 %	21.41	106.8 %
2022	48.13	23.5 %	37.75	33.3 %	33.36	43.7 %
H1 2023	21.52	7.3 %	16.02	8.5 %	12.97	8.5 %
H2 2023	40.22	43.2 %	34.66	50.8 %	31.93	49.1 %
2023	61.74	28.3 %	50.68	34.3 %	44.89	34.6 %

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	-	-	-	-	-	-
2018	43.28	-	27.39	-	24.68	-
2019	45.00	4.0 %	31.77	16.0 %	28.87	17.0 %
2020	42.53	(5.5 %)	29.24	(8.0 %)	24.91	(13.7 %)
2021	38.98	(8.3 %)	28.31	(3.2 %)	23.21	(6.8 %)
2022	48.13	23.5 %	37.75	33.3 %	33.36	43.7 %
2023	61.74	28.3 %	50.68	34.3 %	44.89	34.6 %

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	-	-	-	-	-	-
2014	-	-	-	-	-	-
H1 2015	-	-	-	-	-	-
H2 2015	-	-	-	-	-	-
2015	-	-	-	-	-	-
H1 2016	-	-	-	-	-	-
H2 2016	-	-	-	-	-	-
2016	-	-	-	-	-	-
H1 2017	-	-	-	-	-	-
H2 2017	-	-	-	-	-	-
2017	-	-	-	-	-	-
H1 2018	-	-	-	-	-	-
H2 2018	-	-	-	-	-	-
2018	23.75	-	0.82	-	23.75	0.82
H1 2019	-	-	-	-	-	-
H2 2019	-	-	-	-	-	-
2019	25.33	6.6 %	0.87	-	25.33	0.87
H1 2020	10.23	-	0.26	-	10.23	0.26
H2 2020	13.11	-	0.33	-	13.11	0.33
2020	23.34	(7.9 %)	0.58	-	23.34	0.58
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
H1 2022	12.38	(3.4 %)	0.31	-	12.38	0.31
H2 2022	19.46	112.0 %	0.49	-	19.46	0.49
2022	31.84	44.8 %	0.80	-	31.84	0.80
H1 2023	12.20	(1.4 %)	0.31	-	12.20	0.31
H2 2023	29.98	54.1 %	0.75	-	29.98	0.75
2023	42.18	32.5 %	1.05	-	42.18	1.05

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	-	-	-	-	-	-
2018	23.75	-	0.82	-	23.75	0.82
2019	25.33	6.6 %	0.87	-	25.33	0.87
2020	23.34	(7.9 %)	0.58	-	23.34	0.58
2021	21.99	(5.8 %)	0.55	-	21.99	0.55
2022	31.84	44.8 %	0.80	-	31.84	0.80
2023	42.18	32.5 %	1.05	-	42.18	1.05

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
H1 2014	-	-	-
H2 2014	-	-	-
2014	-	-	-
H1 2015	-	-	-
H2 2015	-	-	-
2015	-	-	-
H1 2016	-	-	-
H2 2016	-	-	-
2016	-	-	-
H1 2017	-	-	-
H2 2017	-	-	-
2017	-	-	-
H1 2018	-	-	-
H2 2018	-	-	-
2018	63.28 %	87.45 %	54.88 %
H1 2019	-	-	-
H2 2019	-	-	-
2019	70.61 %	82.43 %	56.29 %
H1 2020	-	-	-
H2 2020	68.75 %	78.22 %	54.87 %
2020	68.75 %	78.21 %	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 %
H1 2022	72.89 %	78.41 %	54.67 %
H2 2022	78.43 %	87.31 %	66.15 %
2022	78.43 %	87.31 %	66.15 %
H1 2023	78.63 %	86.87 %	63.84 %
H2 2023	82.09 %	86.86 %	68.33 %
2023	82.09 %	86.86 %	68.33 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	63.28 %	87.45 %	54.88 %
2019	70.61 %	82.43 %	56.29 %
2020	68.75 %	78.21 %	54.87 %
2021	72.62 %	81.53 %	56.41 %
2022	78.43 %	87.31 %	66.15 %
2023	82.09 %	86.86 %	68.33 %

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	65.85 %	83.34 %	59.64 %
H2 2020	70.71 %	74.75 %	51.65 %
H1 2021	73.12 %	87.44 %	65.37 %
H2 2021	72.11 %	75.56 %	47.35 %
H1 2022	73.65 %	81.16 %	61.74 %
H2 2022	81.84 %	91.71 %	69.30 %
H1 2023	74.45 %	80.56 %	56.71 %
H2 2023	86.17 %	90.23 %	74.54 %

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	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
H2 2022	40.00	0.80	0.80	13.11
H1 2023	40.00	0.79	0.79	13.41
H2 2023	40.00	1.05	1.05	13.91

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2014	-	-	-	-
2015	-	-	-	-
2016	-	-	-	-
2017	-	-	-	-
2018	29.12	0.82	0.82	11.71
2019	29.12	0.87	0.87	11.66
2020	40.00	0.58	0.58	11.77
2021	40.00	0.55	0.55	12.31
2022	40.00	0.80	0.80	13.11
2023	40.00	1.05	1.05	13.91

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	62.02	62.02	2.77
H1 2022	40.82	40.82	1.74
H2 2022	22.87	22.87	1.39
H1 2023	25.90	25.90	1.53
H2 2023	17.54	17.54	1.33

Period	P/E	Adjusted P/E	Price/book
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	-	-	-
2020	-	-	-
2021	62.02	62.02	2.77
2022	22.87	22.87	1.39
2023	17.54	17.54	1.33

Business Segments (Million)

Compared With The

Period	Commercial center	housing center

Period	Commercial center	housing center
2020	40.88	1.66
2021	36.88	2.10
2022	45.96	2.17
2023	60.06	1.68

Financial Ratios

	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

Enma AlRawabi Co. (ENMA ALRAWABI)

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Enma AlRawabi’s profit up 33% to SAR 42.2M in 2023

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Financials (M)

Current Half Annual Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million)

Revenue by Business Segment (Latest) 2023 Q4

Financial Ratios

Share Price

Enma AlRawabi Co. (ENMA ALRAWABI)

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Enma AlRawabi’s profit up 33% to SAR 42.2M in 2023

View other reports

Financials (M)

Current Half Annual Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million) 2023

Revenue by Business Segment (Latest) 2023 Q4

Financial Ratios

Share Price

Enma AlRawabi Co. (ENMA ALRAWABI)

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Business Segments (Million)