Alwasail Industrial’s net profit rises to SAR 24.3M in H1 2024

Alwasail Industrial’s net profit rises to SAR 24.3M in H1 2024

25/08/2024 Argaam Exclusive

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Alwasail Industrial Co. reported a net profit of SAR 24.3 million in H1 2024, compared to SAR 17.7 million a year earlier.



Financials (M)

Item 6m 2023 6m 2024 Change‬
Revenues 207.61 220.07 6.0 %
Gross Income 51.02 59.20 16.0 %
Operating Income 21.32 18.40 (13.7 %)
Net Income 17.73 24.34 37.3 %
Average Shares 250.00 250.00 -
EPS (Riyals) 0.07 0.10 37.3 %

This was spurred by 10% higher sales year-on-year (YoY) from pipe products and a 23% increase YoY in sales of fittings products. The company also cited one-off gains on 100% investment disposal.



Current Half Annual Comparison (M)

Compared With The
Item H1 2023 H1 2024 Change‬
Revenues 207.61 220.07 6.0 %
Gross Income 51.02 59.20 16.0 %
Operating Income 21.32 18.40 (13.7 %)
Net Income 17.73 24.34 37.3 %
Average Shares 250.00 250.00 -
EPS (Riyals) 0.07 0.10 37.3 %

Total shareholders’ equity, no minority interest, amounted to SAR 359.37 million by June 30, 2024, compared to SAR 345.12 million in the prior-year period.

 

Development of Interim Financials

Period

Revenue (SAR mln)

Net Profit (SAR mln)

Earnings Per Share (SAR)

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

H1 2024

220.07

24.34

0.10


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 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 %
H2 2023 238.40 8.0 % 56.92 15.9 % 20.73 12.5 %
H1 2024 220.07 6.0 % 59.20 16.0 % 18.40 (13.7 %)


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 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
H2 2023 15.86 (1.4 %) 0.06 - 15.86 0.06
H1 2024 24.34 37.3 % 0.10 9.65 14.70 0.06

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 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 %
H2 2023 24.20 % 12.11 % 7.53 %
H1 2024 25.33 % 11.32 % 6.66 %


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 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
H1 2024 250.00 0.16 0.12 1.44

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 - - -
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
H1 2024 16.36 21.52 1.83

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
Q2 2024 164.24 32.65 9.14 6.40 2.60 5.04


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
0.00 0.00 %

Alwasail Industrial Co. (ALWASAIL INDUSTRIAL)

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