AMAK net profit down 21% to SAR 32.9 mln in Q1 2023

AMAK net profit down 21% to SAR 32.9 mln in Q1 2023

15/05/2023 Argaam Exclusive

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Al Masane Al Kobra Mining Co. (AMAK) net profit slumped 21% to SAR 32.9 million in Q1 2023 from SAR 41.8 million a year earlier.



Current Quarter Comparison (M)

Compared With The
Item Q1 2022 Q1 2023 Change‬
Revenues 157.99 143.03 (9.5 %)
Gross Income 68.06 48.72 (28.4 %)
Operating Income 49.66 37.26 (25.0 %)
Net Income 41.82 32.86 (21.4 %)
Average Shares 90.00 90.00 -
EPS (Riyals) 0.46 0.37 (21.4 %)

The profit decline was attributed to lower volume and selling price of copper, as well as an increase in the cost of sales due to high amortization, raw materials expenses and severance fees.

 

However, the company reported an increase in the value of gold and zinc sales, a decrease in selling and marketing expenses, lower general and administrative expenses since IPO costs were booked in Q1 2022 and an increase in other revenues.

 

Sequentially, AMAK’s net profit rose 52.9% from SAR 21.50 million in Q4 2022.

 

Total shareholders’ equity, no minority interest, stood at SAR 1.25 billion as of March 31, 2023, compared to SAR 1.29 billion a year earlier.

View More Financial Results

 


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2014 - - - - - -
Q2 2014 - - - - - -
Q3 2014 - - - - - -
Q4 2014 - - - - - -
Q1 2015 - - - - - -
Q2 2015 - - - - - -
Q3 2015 - - - - - -
Q4 2015 - - - - - -
Q1 2016 - - - - - -
Q2 2016 - - - - - -
Q3 2016 - - - - - -
Q4 2016 - - - - - -
Q1 2017 - - - - - -
Q2 2017 - - - - - -
Q3 2017 - - - - - -
Q4 2017 - - - - - -
Q1 2018 - - - - - -
Q2 2018 - - - - - -
Q3 2018 - - - - - -
Q4 2018 - - - - - -
Q1 2019 - - - - - -
Q2 2019 - - - - - -
Q3 2019 - - - - - -
Q4 2019 - - - - - -
Q1 2020 66.49 - 14.41 - 5.15 -
Q2 2020 78.59 - 23.76 - 15.47 -
Q3 2020 89.79 - 31.61 - 22.03 -
Q4 2020 140.28 - 55.48 - 46.09 -
Q1 2021 117.59 76.8 % 47.11 226.8 % 35.99 599.0 %
Q2 2021 146.62 86.6 % 71.50 200.9 % 56.51 265.3 %
Q3 2021 150.25 67.3 % 66.58 110.7 % 51.60 134.2 %
Q4 2021 172.20 22.8 % 82.50 48.7 % 72.52 57.3 %
Q1 2022 157.99 34.4 % 68.06 44.5 % 49.66 38.0 %
Q2 2022 144.64 (1.3 %) 56.85 (20.5 %) 41.60 (26.4 %)
Q3 2022 125.27 (16.6 %) 36.36 (45.4 %) 25.48 (50.6 %)
Q4 2022 154.87 (10.1 %) 47.10 (42.9 %) 27.21 (62.5 %)
Q1 2023 143.03 (9.5 %) 48.72 (28.4 %) 37.26 (25.0 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2014 - - - - - -
Q2 2014 - - - - - -
Q3 2014 - - - - - -
Q4 2014 - - - - - -
Q1 2015 - - - - - -
Q2 2015 - - - - - -
Q3 2015 - - - - - -
Q4 2015 - - - - - -
Q1 2016 - - - - - -
Q2 2016 - - - - - -
Q3 2016 - - - - - -
Q4 2016 - - - - - -
Q1 2017 - - - - - -
Q2 2017 - - - - - -
Q3 2017 - - - - - -
Q4 2017 - - - - - -
Q1 2018 - - - - - -
Q2 2018 - - - - - -
Q3 2018 - - - - - -
Q4 2018 - - - - - -
Q1 2019 - - - - - -
Q2 2019 - - - - - -
Q3 2019 - - - - - -
Q4 2019 - - - - - -
Q1 2020 1.63 - 0.02 - 1.63 0.02
Q2 2020 11.20 - 0.12 - 11.20 0.12
Q3 2020 16.39 - 0.18 - 16.39 0.18
Q4 2020 58.25 - 0.65 - 58.25 0.65
Q1 2021 34.32 2000.6 % 0.38 - 34.32 0.38
Q2 2021 58.43 421.8 % 0.65 - 58.43 0.65
Q3 2021 41.82 155.2 % 0.46 - 41.82 0.46
Q4 2021 62.74 7.7 % 0.70 - 62.74 0.70
Q1 2022 41.82 21.8 % 0.46 - 41.82 0.46
Q2 2022 40.41 (30.8 %) 0.45 - 40.41 0.45
Q3 2022 22.60 (46.0 %) 0.25 - 22.60 0.25
Q4 2022 21.50 (65.7 %) 0.24 - 21.50 0.24
Q1 2023 32.86 (21.4 %) 0.37 - 32.86 0.37

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2014 - - -
Q2 2014 - - -
Q3 2014 - - -
Q4 2014 - - -
Q1 2015 - - -
Q2 2015 - - -
Q3 2015 - - -
Q4 2015 - - -
Q1 2016 - - -
Q2 2016 - - -
Q3 2016 - - -
Q4 2016 - - -
Q1 2017 - - -
Q2 2017 - - -
Q3 2017 - - -
Q4 2017 - - -
Q1 2018 - - -
Q2 2018 - - -
Q3 2018 - - -
Q4 2018 - - -
Q1 2019 - - -
Q2 2019 - - -
Q3 2019 - - -
Q4 2019 - - -
Q1 2020 - - -
Q2 2020 - - -
Q3 2020 - - -
Q4 2020 33.39 % 31.45 % 23.31 %
Q1 2021 37.06 % 39.50 % 28.19 %
Q2 2021 41.62 % 46.91 % 33.87 %
Q3 2021 43.39 % 48.72 % 34.76 %
Q4 2021 45.63 % 52.81 % 33.63 %
Q1 2022 46.03 % 52.50 % 32.66 %
Q2 2022 43.83 % 50.95 % 29.88 %
Q3 2022 40.62 % 49.71 % 27.92 %
Q4 2022 35.75 % 43.48 % 21.68 %
Q1 2023 33.29 % 43.42 % 20.67 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2014 - - - -
Q2 2014 - - - -
Q3 2014 - - - -
Q4 2014 - - - -
Q1 2015 - - - -
Q2 2015 - - - -
Q3 2015 - - - -
Q4 2015 - - - -
Q1 2016 - - - -
Q2 2016 - - - -
Q3 2016 - - - -
Q4 2016 - - - -
Q1 2017 - - - -
Q2 2017 - - - -
Q3 2017 - - - -
Q4 2017 - - - -
Q1 2018 - - - -
Q2 2018 - - - -
Q3 2018 - - - -
Q4 2018 - - - -
Q1 2019 - - - -
Q2 2019 - - - -
Q3 2019 - - - -
Q4 2019 - - - -
Q1 2020 90.00 - - -
Q2 2020 90.00 - - -
Q3 2020 90.00 - - -
Q4 2020 90.00 0.97 0.97 5.02
Q1 2021 90.00 1.34 1.34 5.40
Q2 2021 90.00 1.86 1.86 6.05
Q3 2021 90.00 2.14 2.14 6.51
Q4 2021 90.00 2.19 2.19 7.20
Q1 2022 90.00 2.28 2.28 14.39
Q2 2022 90.00 2.08 2.08 14.86
Q3 2022 90.00 1.86 1.86 13.68
Q4 2022 90.00 1.40 1.40 13.56
Q1 2023 90.00 1.30 1.30 13.92

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2014 - - -
Q2 2014 - - -
Q3 2014 - - -
Q4 2014 - - -
Q1 2015 - - -
Q2 2015 - - -
Q3 2015 - - -
Q4 2015 - - -
Q1 2016 - - -
Q2 2016 - - -
Q3 2016 - - -
Q4 2016 - - -
Q1 2017 - - -
Q2 2017 - - -
Q3 2017 - - -
Q4 2017 - - -
Q1 2018 - - -
Q2 2018 - - -
Q3 2018 - - -
Q4 2018 - - -
Q1 2019 - - -
Q2 2019 - - -
Q3 2019 - - -
Q4 2019 - - -
Q1 2020 - - -
Q2 2020 - - -
Q3 2020 - - -
Q4 2020 - - -
Q1 2021 - - -
Q2 2021 - - -
Q3 2021 - - -
Q4 2021 - - -
Q1 2022 27.08 27.08 4.28
Q2 2022 27.50 27.50 3.84
Q3 2022 31.44 31.44 4.28
Q4 2022 37.58 37.58 3.89
Q1 2023 41.85 41.85 3.92

Business Segments (Million)

Compared With The
Period Factories mine Guyan mountain mine
Q3 2021 125.71 24.54
Q4 2021 130.47 41.72
Q1 2022 117.33 40.66
Q2 2022 99.78 44.86
Q3 2022 87.16 38.11
Q4 2022 103.51 51.36
Q1 2023 96.01 47.02


Financial Ratios
Current
Market Cap (M Riyal) 6,048.00
Enterprise Value (EV) (M) 6,156.06
Shares Outstanding ((M)) 90.00
EPS ( Riyal) (TTM) 1.58
Book Value (BV) ( Riyal) 13.52
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 42.40
P/E (TTM) 42.40
Price/book 4.97
Return on Average Assets (%) (TTM) 9.4
Return on Average Equity (%) (TTM) 11.7
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Share Price

Almasane Alkobra Mining Co.
67.50
(0.20) (0.30 %)

Almasane Alkobra Mining Co. (AMAK)

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