Alwasail profit rises 10% to SAR 17.7 mln in H1 2023

Alwasail profit rises 10% to SAR 17.7 mln in H1 2023

22/08/2023 Argaam Exclusive

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Alwasail Industrial Co.’s net profit grew 10% to SAR 17.7 million in the first half of 2023, compared to SAR 16.2 million in the prior-year period, thanks to a 25% year-on-year jump in sales.



Financials (M)

Item 6m 2022 6m 2023 Change‬
Revenues 165.77 207.61 25.2 %
Gross Income 48.78 51.02 4.6 %
Operating Income 21.01 21.32 1.5 %
Net Income 16.18 17.73 9.6 %
Average Shares 250.00 250.00 -
EPS (Riyals) 0.06 0.07 9.6 %


Current Half Annual Comparison (M)

Compared With The
Item H1 2022 H1 2023 Change‬
Revenues 165.77 207.61 25.2 %
Gross Income 48.78 51.02 4.6 %
Operating Income 21.01 21.32 1.5 %
Net Income 16.18 17.73 9.6 %
Average Shares 250.00 250.00 -
EPS (Riyals) 0.06 0.07 9.6 %

Total shareholders’ equity, no minority interest, increased to SAR 345.12 million by the end of the six-month period, compared to SAR 329.91 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

0.42

H1 2021

140.30

14.30

0.57

H2 2021

163.45

16.09

0.64

H1 2022

165.77

16.18

0.65

H2 2022

220.82

16.09

0.64

H1 2023

207.61

17.73

0.71

 

View More Financial Results

 


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
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 149.08 - 43.08 - 21.26 -
H2 2020 151.98 - 52.93 - 11.98 -
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 %
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 %
H1 2023 207.61 25.2 % 51.02 4.6 % 21.32 1.5 %


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 - - - - - -
H1 2015 - - - - - -
H2 2015 - - - - - -
H1 2016 - - - - - -
H2 2016 - - - - - -
H1 2017 - - - - - -
H2 2017 - - - - - -
H1 2018 - - - - - -
H2 2018 - - - - - -
H1 2019 - - - - - -
H2 2019 - - - - - -
H1 2020 17.08 - 0.07 - 17.08 0.07
H2 2020 10.57 - 0.04 - 10.57 0.04
H1 2021 14.30 (16.3 %) 0.06 - 14.30 0.06
H2 2021 16.09 52.2 % 0.06 - 16.09 0.06
H1 2022 16.18 13.1 % 0.06 - 16.18 0.06
H2 2022 16.09 0.0 % 0.06 - 16.09 0.06
H1 2023 17.73 9.6 % 0.07 - 17.73 0.07

Profitability

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 - - -
H2 2020 31.89 % 14.51 % 9.19 %
H1 2021 30.64 % 13.49 % 8.51 %
H2 2021 26.88 % 14.45 % 10.01 %
H1 2022 28.49 % 14.35 % 9.80 %
H2 2022 25.32 % 12.90 % 8.35 %
H1 2023 23.37 % 11.90 % 7.89 %


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

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

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
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Share Price

Alwasail Industrial Co.
2.81
0.07 2.55 %

Alwasail Industrial Co. (ALWASAIL INDUSTRIAL)

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