Alwasail profit up 4% to SAR 33.6M in 2023

28/03/2024 Argaam Exclusive

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Alwasail Industrial Co.’s net profit grew 4% to SAR 33.6 million in 2023, compared to SAR 32.3 million in the prior-year period.

Financials (M)

Item	2022	2023	Change‬
Revenues	386.59	446.00	15.4 %
Gross Income	97.89	107.94	10.3 %
Operating Income	39.44	42.05	6.6 %
Net Income	32.27	33.59	4.1 %
Average Shares	250.00	250.00	-
EPS (Riyals)	0.13	0.13	4.1 %

The profit increase was a result of an increase in sales by 15% despite higher cost of sales and distribution, general and administrative expenses.

Current Half Annual Comparison (M)

Compared With The

Item	H2 2022	H2 2023	Change‬
Revenues	220.82	238.40	8.0 %
Gross Income	49.11	56.92	15.9 %
Operating Income	18.43	20.73	12.5 %
Net Income	16.09	15.86	(1.4 %)
Average Shares	250.00	250.00	-
EPS (Riyals)	0.06	0.06	(1.4 %)

Item	H1 2023	H2 2023	Change‬
Revenues	207.61	238.40	14.8 %
Gross Income	51.02	56.92	11.6 %
Operating Income	21.32	20.73	(2.7 %)
Net Income	17.73	15.86	(10.6 %)
Average Shares	250.00	250.00	-
EPS (Riyals)	0.07	0.06	(10.6 %)

Total shareholders’ equity, no minority interest, increased to SAR 360.03 million by the end of 2023, compared to SAR 346.14 million in the year-earlier period.

Historical Data
Period	Revenue (SAR mln)	Net Profit (SAR mln)	EPS (SAR)
H1 2020	149.08	17.08	0.68
H2 2020	151.98	10.58	0.04
H1 2021	140.30	14.30	0.06
H2 2021	163.45	16.09	0.06
H1 2022	165.77	16.18	0.06
H2 2022	220.82	16.09	0.07
H1 2023	207.61	17.73	0.07
H2 2023	238.39	15.85	0.06

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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	-	-	-	-	-	-
H1 2019	-	-	-	-	-	-
H2 2019	-	-	-	-	-	-
2019	317.56	-	63.72	-	11.25	-
H1 2020	149.08	-	43.08	-	21.26	-
H2 2020	151.98	-	52.93	-	11.98	-
2020	301.06	(5.2 %)	96.01	50.7 %	33.24	195.5 %
H1 2021	140.30	(5.9 %)	36.62	(15.0 %)	17.72	(16.6 %)
H2 2021	163.45	7.5 %	45.02	(14.9 %)	16.30	36.0 %
2021	303.75	0.9 %	81.64	(15.0 %)	34.02	2.4 %
H1 2022	165.77	18.2 %	48.78	33.2 %	21.01	18.5 %
H2 2022	220.82	35.1 %	49.11	9.1 %	18.43	13.1 %
2022	386.59	27.3 %	97.89	19.9 %	39.44	15.9 %
H1 2023	207.61	25.2 %	51.02	4.6 %	21.32	1.5 %
H2 2023	238.40	8.0 %	56.92	15.9 %	20.73	12.5 %
2023	446.00	15.4 %	107.94	10.3 %	42.05	6.6 %

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	-	-	-	-	-	-
2018	-	-	-	-	-	-
2019	317.56	-	63.72	-	11.25	-
2020	301.06	(5.2 %)	96.01	50.7 %	33.24	195.5 %
2021	303.75	0.9 %	81.64	(15.0 %)	34.02	2.4 %
2022	386.59	27.3 %	97.89	19.9 %	39.44	15.9 %
2023	446.00	15.4 %	107.94	10.3 %	42.05	6.6 %

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	-	-	-	-	-	-
H1 2019	-	-	-	-	-	-
H2 2019	-	-	-	-	-	-
2019	21.61	-	0.09	-	21.61	0.09
H1 2020	17.08	-	0.07	-	17.08	0.07
H2 2020	10.57	-	0.04	-	10.57	0.04
2020	27.66	28.0 %	0.11	-	27.66	0.11
H1 2021	14.30	(16.3 %)	0.06	-	14.30	0.06
H2 2021	16.09	52.2 %	0.06	-	16.09	0.06
2021	30.39	9.9 %	0.12	-	30.39	0.12
H1 2022	16.18	13.1 %	0.06	-	16.18	0.06
H2 2022	16.09	0.0 %	0.06	-	16.09	0.06
2022	32.27	6.2 %	0.13	-	32.27	0.13
H1 2023	17.73	9.6 %	0.07	-	17.73	0.07
H2 2023	15.86	(1.4 %)	0.06	-	15.86	0.06
2023	33.59	4.1 %	0.13	-	33.59	0.13

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	-	-	-	-	-	-
2018	-	-	-	-	-	-
2019	21.61	-	0.09	-	21.61	0.09
2020	27.66	28.0 %	0.11	-	27.66	0.11
2021	30.39	9.9 %	0.12	-	30.39	0.12
2022	32.27	6.2 %	0.13	-	32.27	0.13
2023	33.59	4.1 %	0.13	-	33.59	0.13

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	-	-	-
H1 2019	-	-	-
H2 2019	-	-	-
2019	20.07 %	6.55 %	6.80 %
H1 2020	-	-	-
H2 2020	31.89 %	14.51 %	9.19 %
2020	31.89 %	14.51 %	9.19 %
H1 2021	30.64 %	13.49 %	8.51 %
H2 2021	26.88 %	14.45 %	10.01 %
2021	26.88 %	14.45 %	10.01 %
H1 2022	28.49 %	14.35 %	9.80 %
H2 2022	25.32 %	12.90 %	8.35 %
2022	25.32 %	12.90 %	8.35 %
H1 2023	23.37 %	11.90 %	7.89 %
H2 2023	24.20 %	12.11 %	7.53 %
2023	24.20 %	12.11 %	7.53 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	20.07 %	6.55 %	6.80 %
2020	31.89 %	14.51 %	9.19 %
2021	26.88 %	14.45 %	10.01 %
2022	25.32 %	12.90 %	8.35 %
2023	24.20 %	12.11 %	7.53 %

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	28.89 %	17.92 %	11.46 %
H2 2020	34.83 %	11.17 %	6.96 %
H1 2021	26.10 %	15.99 %	10.19 %
H2 2021	27.54 %	13.13 %	9.85 %
H1 2022	29.43 %	15.56 %	9.76 %
H2 2022	22.24 %	10.91 %	7.29 %
H1 2023	24.58 %	12.95 %	8.54 %
H2 2023	23.88 %	11.38 %	6.65 %

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	250.00	-	-	1.24
H2 2020	250.00	0.11	0.11	1.18
H1 2021	250.00	0.10	0.10	1.24
H2 2021	250.00	0.12	0.12	1.30
H1 2022	250.00	0.13	0.13	1.32
H2 2022	250.00	0.13	0.13	1.38
H1 2023	250.00	0.14	0.14	1.38
H2 2023	250.00	0.13	0.13	1.44

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2014	-	-	-	-
2015	-	-	-	-
2016	-	-	-	-
2017	-	-	-	-
2018	-	-	-	-
2019	250.00	0.09	0.09	1.12
2020	250.00	0.11	0.11	1.18
2021	250.00	0.12	0.12	1.30
2022	250.00	0.13	0.13	1.38
2023	250.00	0.13	0.13	1.44

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	-	-	-
H1 2022	18.98	18.98	1.86
H2 2022	14.18	14.18	1.32
H1 2023	15.24	15.24	1.49
H2 2023	17.42	17.42	1.62

Period	P/E	Adjusted P/E	Price/book
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	-	-	-
2020	-	-	-
2021	-	-	-
2022	14.18	14.18	1.32
2023	17.42	17.42	1.62

Business Segments (Million)

Compared With The

Period	Pipe Sales	Parts Sales	rubber sales	Imported goods sales	Electrical pipe sales	Others**
Q2 2023	149.67	26.57	8.80	5.39	3.80	13.37

Financial Ratios

	Current
Market Cap (M Riyal)	702.50
Enterprise Value (EV) (M)	705.34
Shares Outstanding ((M))	250.00
Book Value (BV) ( Riyal)	1.44
Par Value ( Riyal)	1.00
Adjusted P/E (Last12)	20.91
Price/book	1.95

Alwasail Industrial Co. (ALWASAIL INDUSTRIAL)

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Alwasail profit up 4% to SAR 33.6M 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

Alwasail Industrial Co. (ALWASAIL INDUSTRIAL)

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Alwasail profit up 4% to SAR 33.6M 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) Q2 2023

Revenue by Business Segment (Latest) 2023 Q4

Financial Ratios

Share Price

Alwasail Industrial Co. (ALWASAIL INDUSTRIAL)

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Business Segments (Million)