Enma AlRawabi profit rises to SAR 39.8M in H1 2024

Enma AlRawabi profit rises to SAR 39.8M in H1 2024

18/08/2024 Argaam Exclusive

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Enma AlRawabi Co. reported an increase in H1 2024 net profit to SAR 39.8 million from SAR 12.2 million in H1 2023.



Financials (M)

Item 6m 2023 6m 2024 Change‬
Revenues 21.52 90.79 322.0 %
Gross Income 16.02 44.76 179.5 %
Operating Income 12.97 38.55 197.3 %
Net Income 12.20 39.80 226.2 %
Average Shares 40.00 40.00 -
EPS (Riyals) 0.31 0.99 226.2 %

The positive performance was primarily driven by a 321.97% increase in total revenues, which was mainly due to higher rental revenues as a result of the rise in rental contracts, initiation of rental contracts for units in new projects and higher real estate sales revenues.

 

In addition, gross profit grew by 179.45% to SAR 44.76 million and bank returns from Shariah-complaint investments rose to SAR 1.29 million.

 

This came despite the increase in general and administrative expenses, and an increase in the provision for expected credit losses.



Current Half Annual Comparison (M)

Compared With The
Item H1 2023 H1 2024 Change‬
Revenues 21.52 90.79 322.0 %
Gross Income 16.02 44.76 179.5 %
Operating Income 12.97 38.55 197.3 %
Net Income 12.20 39.80 226.2 %
Average Shares 40.00 40.00 -
EPS (Riyals) 0.31 0.99 226.2 %

Total shareholders’ equity, no minority interest, reached SAR 586.02 million as of June 30, 2024, compared to SAR 536.52 million a year earlier.

 

Historical Data

Period

Revenue

(SAR mln)

Net Profit

(SAR mln)

Earnings Per Share

(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

H1 2024

40.22

29.98

0.74

 

View more financial results

 


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
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 %)
H2 2022 28.08 44.9 % 22.98 64.4 % 21.41 106.8 %
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 %
H1 2024 90.79 322.0 % 44.76 179.5 % 38.55 197.3 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
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
H2 2022 19.46 112.0 % 0.49 - 19.46 0.49
H1 2023 12.20 (1.4 %) 0.31 - 12.20 0.31
H2 2023 29.98 54.1 % 0.75 - 29.98 0.75
H1 2024 39.80 226.2 % 0.99 - 39.80 0.99

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
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 %
H2 2022 78.43 % 87.31 % 66.15 %
H1 2023 78.63 % 86.87 % 63.84 %
H2 2023 82.09 % 86.86 % 68.33 %
H1 2024 60.62 % 60.45 % 53.26 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
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
H1 2024 40.00 1.74 1.74 14.65

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
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
H1 2024 11.98 11.98 1.43

Business Segments (Million)

Compared With The
Period Commercial center housing center


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
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Share Price

Enma AlRawabi Co.
18.78
0.28 1.51 %

Enma AlRawabi Co. (ENMA ALRAWABI)

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