Aqaseem profit declines 16.6% to SAR 6 mln in 2022
29/03/2023
Argaam Exclusive
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Aqaseem Factory for Chemicals and Plastics Co. reported a 17% drop in 2022 net profit to SAR 6 million, from SAR 7.2 million in 2021.
Financials (M)
| Item | 2021 | 2022 | Change |
|---|---|---|---|
| Revenues | 98.72 | 140.51 | 42.3 % |
| Gross Income | 23.88 | 29.02 | 21.5 % |
| Operating Income | 8.30 | 7.20 | (13.2 %) |
| Net Income | 7.22 | 6.02 | (16.6 %) |
| Average Shares | 2.50 | 2.50 | - |
| EPS (Riyals) | 2.89 | 2.41 | (16.6 %) |
The lower profit was attributed to a 2% increase year-on-year (YoY) in the cost of raw materials due to global market conditions. Operating costs rose 1% YoY.
Compared With The
Current Half Annual Comparison (M)
| Item | H2 2021 | H2 2022 | Change |
|---|---|---|---|
| Revenues | 53.15 | 79.27 | 49.2 % |
| Gross Income | 11.97 | 16.76 | 40.0 % |
| Operating Income | 4.34 | 4.96 | 14.3 % |
| Net Income | 3.27 | 4.31 | 31.9 % |
| Average Shares | 2.50 | 2.50 | - |
| EPS (Riyals) | 1.31 | 1.72 | 31.9 % |
Shareholders’ equity, no minority interest, rose to SAR 45.76 million as of Dec. 31, 2022, from SAR 39.94 million a year earlier.
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| H1 2022 | 61.24 | 34.4 % | 12.27 | 2.9 % | 2.24 | (43.4 %) |
| H2 2022 | 79.27 | 49.2 % | 16.76 | 40.0 % | 4.96 | 14.3 % |
| 2022 | 140.51 | 42.3 % | 29.02 | 21.5 % | 7.20 | (13.2 %) |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS Before XO Items |
|---|---|---|---|---|---|---|
| H1 2022 | 1.71 | (56.7 %) | 0.69 | - | 1.71 | 0.69 |
| H2 2022 | 4.31 | 31.9 % | 1.72 | - | 4.31 | 1.72 |
| 2022 | 6.02 | (16.6 %) | 2.41 | - | 6.02 | 2.41 |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| H1 2022 | 21.18 % | 8.60 % | 4.35 % |
| H2 2022 | 20.65 % | 7.16 % | 4.28 % |
| 2022 | 20.65 % | 7.16 % | 4.28 % |
Compared With The
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| H1 2022 | 2.50 | 1.99 | 1.99 | 16.66 |
| H2 2022 | 2.50 | 2.41 | 2.41 | 18.31 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| H1 2022 | 45.20 | 45.20 | 5.40 |
| H2 2022 | 20.77 | 20.77 | 2.73 |
| Current | |
| Market Cap (M Riyal) | 160.25 |
| Enterprise Value (EV) (M) | 179.92 |
| Shares Outstanding ((M)) | 2.50 |
| Book Value (BV) ( Riyal) | 22.39 |
| Par Value ( Riyal) | 10.00 |
| Adjusted P/E (Last12) | 15.81 |
| Price/book | 2.86 |
Share Price
Aqaseem Factory for Chemicals and Plastics Co. (AQASEEM)
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